Page 2318 - Business Finance
Garden Shipbuilders shares make weak debut; slump over 13%
Shares of Garden Reach Shipbuilders & Engineers made a weak debut at the bourses Wednesday, plunging over 13 per cent from the issue price of Rs 118 per share. The stock listed at Rs 104, falling 11.86 per cent from the issue price on BSE. At NSE, shares of the company debuted at Rs 102.50, plunging 13.13 per cent as compared to the issue price. In terms of equity volume, 3.54 lakh shares of the company were traded on BSE and over 18 lakh shares changed hands at NSE during the morning trade. The company's Rs 345-crore initial public offer ran from September 24-October 1 as the issue closure date was extended. Also, the price band for the offer was revised from Rs 115-118 per share to Rs 114-118 per share. IDBI Capital Markets & Securities and YES Securities were the book running lead managers to the offer. Garden Reach is a ship building company under the administrative control of the Defence Ministry. It has also built India's first indigenous warship -- the INS Ajay -- in ...
China Market trades flat
U.S. President Donald Trump on Tuesday repeated his threat to impose tariffs on $267 billion worth of additional Chinese imports if China retaliates for the recent levies and other measures the United States has taken in the countries' escalating trade war. Last month Trump imposed tariffs on nearly US$200 billion of Chinese imports and then threatened more levies if China retaliated. China then hit back with tariffs on about US$60 billion of US imports. Citing the growing trade war, the International Monetary Fund on Tuesday cut its global economic growth forecasts for 2018 and 2019.
Hong Kong Stocks gain 0.5%
Property shares fell after Chief Executive Carrie Lam delivered her 2018 Policy Address in late morning. The HK Government has decided to commence immediately a study on phased reclamation near Kau Yi Chau and Hei Ling Chau for the construction of artificial islands with a total area of about 1,700 hectares. New World Development (00017) and Wheelock and Company (00020) dipped 1.1% to HK$10.4 and HK$44.55. Henderson Land (00012) softened 0.8% to HK$38.6. CK Asset Holdings (01113) and Sun Hung Kai Properties (00016) edged down 0.5% to HK$56.3 and HK$109. HKR International (00480) soared 5.4% to HK$4.28.
HEG Ltd leads gainers in 'A' group
Dewan Housing Finance Corporation Ltd, Centrum Capital Ltd, Venkys (India) Ltd and Shriram Transport Finance Company Ltd are among the other gainers in the BSE's 'A' group today, 10 October 2018.
SoftBank in talks to buy majority stake in loss-making WeWork - source
SAN FRANCISCO/NEW YORK (Reuters) - Japan's SoftBank Group Corp is in discussions to buy a majority stake in U.S. shared office space provider WeWork Cos, a source said, potentially doubling down on one of its biggest bets on a loss-making startup.
Global Markets: Asian shares steady as global bond sell-off eases; sterling rises
TOKYO (Reuters) - Asian shares staged a mild rebound on Wednesday after world stocks hit eight-week lows the previous day on worries about global economic growth, although the British pound stayed firm on hopes for a Brexit deal.
Dilip Buildcon alters main object of MoA for engagement with IOCL
- To carry on the business of purchase and sale of petroleum and petroleum products - To act as dealers in and distributors for petroleum companies - To run service station for repair and servicing of automobiles and to manufacture or deal in fuel oils, cutting oils and greases - To explore, develop, produce, purchase or otherwise acquire petroleum crude oil, natural gas, all kinds of hydrocarbons and mineral substances, both onshore, within the territorial jurisdiction of the Indian Union and anywhere in the World
Australia: Market recovers 0.14%
The International Monetary Fund cuts its official growth forecast for Australia and the global economy on Tuesday. Only three months ago, the IMF had been projecting the global economy would grow at an annual rate of 3.9% this year and next, but it cut that projection to 3.7% for both years. IMF officials said Donald Trump's trade war with China and Europe would likely hit global growth and reverberate through 2019. The escalation of the US president's protectionist policies, which had resulted in the world's largest economy doubling import duties on some Chinese goods, would negatively affect the growth of the world's largest trading countries, including the US, France, Germany and China.
Japan Nikkei gains 0.2%
Shares of utility sector advanced on bargain hunting. Tokyo Gas jumped 1.5% and Chubu Electric Power gained 1.3%.
Atos completes $3.4 bn acquisition of US IT firm Syntel
French technology services company Atos has announced the completion of the acquisition of US-based information technology firm Syntel for $3.4 billion.
Graphite India halts operations at Bengaluru Plant for on-going revamp work
To resume by end November 2018
Strong market breadth
The market extended gains in mid-morning trade amid strong buying in index pivotals. At 11:19 IST, the barometer index, the S&P BSE Sensex, was up 361.20 points or 1.05% at 34,660.67. The Nifty 50 index was up 128.50 points or 1.25% at 10,429.55.
China September exports seen slowing further as U.S. tariffs bite: Reuters poll
BEIJING (Reuters) - China's export growth is expected to have further slowed in September, weighed down by a faster decline in orders as an intensifying trade war with the United States starts to hurt Chinese shipments, a Reuters poll showed.
IT Dept raids premises, businesses linked to Delhi minister Kailash Gahlot
TheIncome Tax Department(ITD) Wednesday conducted searches on multiple premises linked to Delhi Transport Kailash Gahlot in connection with a tax evasion case, officials said. They said at least 16 locations in the national capital and adjoining Gurgaon are being raided by a team of over 60 ITD sleuths and police officials. The search teams are raiding locations in Delhi's upscale residential areas like Vasant Kunj and Defence Colony, offices and residences in Paschim Vihar, Najafgarh, Laxmi Nagar and Palam Vihar area in Gurgaon, the officials said. The searches are being conducted as part of a tax evasion probe against two firms -- Brisk Infrastructure and Developers Pvt Ltd and Corporate International Financial Services Limited -- that are operated and owned by the family members of Gahlot, they said. The officials said multiple transactions and alleged under-reporting of profits has led the department to launch a tax evasion probe against the promoters of the two firms and their ...
Gold futures rise 0.27 pc on global cues
Gold prices rose 0.27 per cent in futures trade Wednesday as speculators created fresh positions, taking positive cues from global markets. At the Multi Commodity Exchange, gold for delivery in December was up by Rs 86, or 0.27 per cent, to Rs 31,369 per 10 grams in a trade volume of 24 lots. The metal for delivery in November moved up Rs 64, or 0.21 per cent, to Rs 31,225 per 10 grams in a turnover of 303 lots. Market analysts said raising of bets by participants, tracking a firm trend overseas, influenced gold at futures trade here. Meanwhile, gold was marginally higher at USD 1,190 an ounce in Singapore Wednesday.
Muted demand drags down copper futures by 0.02%
Copper futures traded a shade lower at Rs 463.10 per kg Wednesday on lower exposure amid subdued demand at the domestic spot markets. At the Multi Commodity Exchange, copper for delivery in November shed 10 paise or 0.02 per cent, to quote at Rs 463.10 per kg in a business volume of 157 lots. Analysts said off-loading of positions by participants due to slackened demand from consuming industries in the physical market and a weak trend overseas influenced copper prices in futures trade.
Twin Recognition for Aspect Software at Frost and Sullivan Asia-Pacific Best Practices Awards 2018
/ -- Aspect Software, a leading provider of fully integrated consumer engagement, workforce optimization, and self-service omni-channel solutions today announced that it has received two prestigious awards at the 2018 Frost and Sullivan Asia-Pacific Best Practices Awards. These are the 2018 Asia-Pacific Outbound Systems Market Share Leadership Award and the 2018 Asia-Pacific Contact Center Application Growth Excellence Leadership Award. (Logo: https://mma.prnewswire.com/media/675536/Aspect_Software.jpg ) Aspect has once more received the Asia Pacific Outbound Systems Market Share Leadership Award and has successfully maintained the leadership position for the Outbound segment since 2007. This award is presented by Frost & Sullivan to the company that has demonstrated excellence in capturing the highest market share within its industry in the specific year. The award establishes that Aspect Software is the undisputed leader in the outbound contact center systems market. Aspect ...
Cords Cable Industries gets enlisted as approved vendor for Engineers India
The new validity of this enlistment is up to 31 January 2020 and it covers the following items:
IndusInd Bank launches India's first 2 EMV chip debit cum credit card
With a range of benefits that straddle both types of cards, it is a powerhouse of convenience and flexibility for the customer. With just one card to carry for all their financial needs, the customer can travel light with just one card plastic. The card design uses the anagram technique to enhance and highlight the singularity of the Duo Card.
Zinc futures shed 0.37 pc on low demand
Zinc prices moved down by 0.37 in futures trading Wednesday as traders cut down bets, tracking a weak trend at domestic spot markets due to fall in demand from consuming industries. In futures trading at the Multi Commodity Exchange, zinc for delivery in October fell by 75 paise, or 0.37 per cent, to Rs 202.15 per kg in a business turnover of 122 lots. Analysts said apart from trimming of positions by speculators to book profits, low demand at the domestic spot markets, weighed on zinc prices at futures trade.