Page 2276 - Business Finance
Benchmarks hit fresh intraday low
Key benchmarks declined and hit fresh intraday low in morning trade. At 10:35 IST, the barometer index, the S&P BSE Sensex, was down 128.67 points or 0.37% at 34,604.91. The Nifty 50 index was down 36.65 points or 0.35% at 10,435.85.
Dr Reddy's Labs inks deal for sale of API unit to Therapiva
Dr Reddy's Laboratories Ltd Monday said it entered into a definitive agreement for the sale of its API Active Pharmaceutical Ingredients (API) manufacturing business unit located in Jeedimetla, here, to Therapiva Private Ltd, an emerging generics pharmaceutical company. Therapivais a joint venture between Omnicare Drugs India Private Limited, a wholly owned subsidiary of Neopharma LLC, Abu Dhabi and Laxai Life Sciences Private Ltd. According to a press release, the sale is being done as a going concern and includes all related fixed assets (land and building), current assets, current liabilities, and its employees. The divestiture of our API manufacturing business unit is a step towards streamlining its manufacturing operations and optimising the cost structures, Sanjay Sharma, Executive Vice President and Head, Global Manufacturing Operations, Dr Reddys said. "We are confident that we have found in Therapiva, a buyer-partner who fully understands and appreciates the ...
Ex-Intel India CFO Joins INCX
/ -- InternationalCryptoX PTE Ltd, INCX , a state-of-the-art next-gen crypto trading platform inducts a top finance professional to the leadership team. (Logo: https://mma.prnewswire.com/media/715315/INCX_Logo.jpg ) Arun V Rao, ex-Intel India CFO, is inducted into the leadership team at INCX as the new CFO. Arun's addition to the team brings significant value, as the exchange platform, is gearing to go live in a few weeks from now. Arun brings along with over 25+ years of global professional experience. Arun has a B.Tech from IIT, Madras, MS from SUNY, Buffalo and a MBA from the Anderson School of Management, UCLA. Speaking on the announcement, Sanjoy Gaddipati - Founder, CEO & Managing Director, INCX, said "Extremely happy and delighted to have Arun on-board. Arun's inclusion into the team holds significant importance at this juncture as INCX is on the threshold of making an impactful presence in the global financial sector. Great pleasure in welcoming Arun." "I am delighted to ..
Did not issue 5-day strike call in Nov: AIBEA
The All India Bank Employees' Association (AIBEA) has denied issuing any circular calling for five days of bank strike in November-end demanding wage hike, said a top official on Monday.
Oil prices climb amid Saudi tensions, but demand outlook drags
BEIJING (Reuters) - Crude oil futures rose on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices.
Cloudera appoints Vinod Ganesan as Country Head for India
US-based software Company Cloudera on Monday announced the appointment Vinod Ganesan as Country Manager for its India operations.
Higher U.S. tariffs on Japanese cars less likely, trade war posing risk: Reuters poll
TOKYO (Reuters) - Higher U.S. tariffs on Japanese car exports are less likely now the two nations agreed to start new trade talks, economists said, but most think U.S. trade friction with China and other economies will have a significant impact on Japan.
L&T Heavy Engineering receives orders worth Rs 1050 crore in Q2
The total order inflow in H1 FY19 for the Process Plant and Nuclear equipment business of Heavy Engineering has reached Rs 2,661 crore, a significant achievement after a prolonged subdued market scenario.
Global cues, rupee subdue equity indices
Broadly negative global cues, along with a weak rupee and a rise in global crude oil prices subdued the key domestic equity indices during Monday's morning trade session.
Japan Nikkei extends losses on Monday
Shares of Softbank tumbled by around 5 percent over concerns of the company's ties to Saudi Arabia, which is under mounting pressure internationally following the disappearance of a prominent journalist who was a critic of the administration.
UK to see 3 years of low growth: Forecaster
The UK can expect low economic growth till 2021, while a no-deal Brexit could dent growth even further, says a forecasting body.
Dr. Reddy's Laboratories sells its API manufacturing unit in Jeedimetla, Hyderabad
This divestiture is being done by way of slump sale (as a going concern) and includes all related fixed assets (land and building), current assets, current liabilities, and its employees.
Australia Market trades lower on Monday
Shares of materials companies were lower despite rising copper and iron ore prices, with BHP, Rio Tinto and Fortescue Metals fell in a range of 1% to 3%. Gold miners Evolution Mining was lower by more than 2% and Newcrest Mining was down more than 1% after gold prices declined 0.5% Friday.
Diesel price continues to rise, Petrol stagnant
Fuel prices continued its upward march on Monday, with diesel prices surging by 8 paise and 9 paise in four metropolitan cities.While Delhi and Kolkata saw a hike of 8 paise, a litre of diesel has increased by 9 paise in Mumbai and Chennai.After the revision of the rates, diesel in Delhi is being retailed at Rs 75.46 per litre and Rs 77. 31 per litre in Kolkata.In Mumbai, diesel touched Rs 79. 11 per litre mark, while the same is being retailed at Rs 79.80 per litre in Chennai.Meanwhile, the petrol price across the four metropolitan cities remained stagnant.The fuel price has been soaring since the past few months in the country, causing many problems for the common people.The Opposition has repeatedly blamed the Centre for the steep hike in the fuel price, while the latter has maintained that global crude oil prices and other international factors are responsible for the increase in prices of petroleum products.
Natco and Mylan get favourable decision for patent dispute in US Court
These were the last remaining patent infringement cases Mylan was defending in the U.S. relating to Glatiramer Acetate Injection 40mg/ml.
Nalco will be watched after board OKs share buyback
National Aluminium Company (Nalco) said its board approved the buyback by the company of its fully paid-up equity shares of face value of Rs 5 each not exceeding 6.73 crore equity shares, representing 3.48% of the total number of equity shares in the paid-up share capital of the company, at Rs 75 per equity share payable in cash for an aggregate consideration not exceeding Rs 504.83 crore. The announcement was made after market hours on Friday, 12 October 2018.
Market may open with small gains
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 9 points at the opening bell.
China property market feels fresh chill, 'winter' is coming
HONG KONG (Reuters) - China's property developers usually look forward to the months dubbed "Golden September and Silver October" as the high season for new home sales. This year is proving to be different.
SoftBank shares fall 5.5 percent as Saudi ties cause concern
TOKYO (Reuters) - SoftBank Group Corp shares tumbled 5.5 percent on Monday, hurt by worries over its ties to Saudi Arabia as well as a broader market sell-off.
JP Morgan and Ford cancel plans for Saudi investor event
NEW YORK (Reuters) - JP Morgan & Chase Co Chief Executive Jamie Dimon and Ford Motor Co Chairman Bill Ford canceled plans to attend a Saudi investor conference, the companies said on Sunday, the latest such high-profile announcements after the disappearance of Saudi journalist Jamal Khashoggi.