Page 2328 - Business Finance
Tata Motors shares dive over 16%, hit 52-week low as JLR global sales decline
Shares of Tata Motors fell over 16 per cent Tuesday after the company-owned Jaguar Land Rover (JLR) reported 12.3 per cent decline in global sales in September. The scrip, after a weak opening, further tumbled 16.19 per cent to Rs 178.30 as trade progressed on BSE. On NSE, shares of the company cracked 15.54 per cent to hit its one-year low of Rs 179.35. The stock was the worst hit among blue chips on both the key indices during early trade. JLR Monday reported 12.3 per cent decline in global sales at 57,114 units in September, hit by lower demand in China, the auto major said. The company's sales in China declined by 46.2 per cent during September as compared to the same month last year as ongoing market uncertainty resulting from import duty changes and continued trade tensions held back consumer demand.
Fiorano Software partners with Transnational Technology Solutions Lanka
Fiorano Software, a leading provider of enterprise integration middleware has announced its partnership with Transnational Technology Solutions Lanka (Pvt.) Ltd., a leading Sri Lankan IT company to deliver business productivity solutions for the enterprise segment."As a progressive Sri Lankan IT company offering cutting-edge software applications and SI solutions to the Financial Services Industry, we value the partnership with Fiorano as strategic and timely to support our current initiatives of helping banks achieve Digital Transformation in Sri Lanka," said Sr. VP- Technology, Productivity and Innovation of Transnational Company, Singapore and Executive Director of Transnational Technology Solutions Lanka, Sunimal Weerasooriya."This strategic partnership will surely provide our customers an advantage in terms of speed and reliability," added Weerasooriya.With its innovative features to communicate and integrate heterogeneous business applications and multi-vendor technology ...
India's Economy Expected To Clock Growth Of 7.3% In 2018 Says IMF
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Railwaymen likely to get 78-day bonus before Puja
Ahead of the festive season, railway employees are likely to get 78-day wages as bonus this year, the same as in the last six years.
Oil prices rise on signs Iranian crude exports fall further
TOKYO (Reuters) - Oil prices rose on Tuesday as more evidence emerged that crude exports from Iran, OPEC's third-largest producer, are declining in the run-up to the re-imposition of U.S. sanctions and as a hurricane moved across the Gulf of Mexico.
Copper futures fall on low demand, profit-booking
Copper futures traded 0.07 per cent lower on Tuesday as speculators trimmed positions amid muted demand at the domestic spot market. However, firm trend in overseas market, capped the fall in base metals. At the Multi Commodity Exchange, copper for delivery in November eased by 30 paise, or 0.07 per cent, to Rs 456.25 per kg in a business turnover of 43,007 lots. The fall in copper prices at futures market was largely due to cutting down of bets by participants amid low demand at the domestic spot market but a firm trend overseas, limited the fall.
Uttam Sugar Mills Ltd leads gainers in 'B' group
Dhampur Sugar Mills Ltd, Rollatainers Ltd, Thiru Arooran Sugars Ltd and Dwarikesh Sugar Industries Ltd are among the other gainers in the BSE's 'B' group today, 09 October 2018.
Microsoft invests in ride-hailing service Grab
Singapore-based ride-sharing service Grab on Tuesday announced that Microsoft will strategically invest in the company with the aim of improving delivery of digital services and mobility solutions across Southeast Asia.
Mentha oil up 0.65 pc on firm demand
Mentha oil prices were trading up 0.65 per cent to Rs 1,715 per kg in futures market after participants raised bets on rise in demand from consuming industries at the spot markets. Tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also supported the uptrend in mentha oil prices. In futures trading at the Multi Commodity Exchange, mentha oil for delivery in current month rose by Rs 11.10, or 0.65 per cent, to Rs 1,715 per kg, clocking a business volume of 1,000 lots. Marketmen said raising of bets by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Over 19 mn smartphones to be sold online in India festive quarter: Report
Riding on the festive season, 19.1 million smartphones (53 per cent) of the total 36 million smartphones are expected to be sold online during the festive quarter this year, a new report said on Tuesday.
Balrampur Chini Mills Ltd leads gainers in 'A' group
Magma Fincorp Ltd, Vakrangee Ltd, Kwality Ltd and EID Parry (India) Ltd are among the other gainers in the BSE's 'A' group today, 09 October 2018.
Weak German trade suggests meagre growth in Q3
BERLIN (Reuters) - German exports unexpectedly fell in August, data showed on Tuesday, in a fresh sign that manufacturers in Europe's largest economy have shifted into a lower gear over the summer months.
Muted demand drags down jeera futures by 0.74 pc
Jeera prices declined by 0.74 per cent to Rs 19,425 per quintal in futures trade Tuesday as traders cut down positions amid easing demand at the spot markets. Improved arrivals from major producing belts also fuelled the downtrend. In futures trading at the National Commodity and Derivatives Exchange, jeera for delivery in October fell by Rs 145, or 0.74 per cent, to Rs 19,425 per quintal with an open interest of 3,837 lots. Jeera to be delivered in November month also fell by a similar margin to trade at Rs 19,480 per quintal in 5,610 lots. Analysts said trimming of positions by participants amid subdued demand at the spot market, mainly led to the fall in jeera prices in futures trade.
Crude oil up 0.67 pc on global cues
Crude oil prices rose 0.67 per cent to Rs 5,531 per barrel in futures market as speculators created fresh bets, taking positive cues from Asian markets. In futures trading at the Multi Commodity Exchange, crude oil for delivery this month rose Rs 37, or 0.67 per cent, to Rs 5,531 per barrel in a business turnover of 1,591 lots. Speculators built fresh positions after Brent crude oil prices again jumped above USD 84 per barrel in Asian trade, which supported the rise in crude prices at futures trade here, traders said. Meanwhile, West Texas Intermediate gained 40 cents, or 0.54 per cent, to USD 74.69 while Brent crude rose 49 cents, or 0.58 per cent, to USD 84.40 per barrel.
German exports, imports fall in August
BERLIN (Reuters) - German exports unexpectedly fell in August, data showed on Tuesday, in a fresh sign that manufacturers in Europe's largest economy have shifted into a lower gear over the summer months.
Silver crashes 2pc in futures trade
Silver prices came down sharply by 2 per cent,to Rs 38,490 per kg in futures trade Tuesday as speculators cut down their bets, taking weak cues from global markets coupled with profit-booking. Silver for delivery in far-month December dipped by Rs 784, or 2 per cent, to Rs 38,490 per kg in futures trade at Multi Commodity Exchange. It clocked a business volume of 21,668 lots. Silver for delivery in November, too, was trading lower by Rs 776, or 1.97 per cent, to Rs 38,525 per kg in a business turnover of 28,891 lots. Market analysts said trimming of positions by participants in sync with weak trend overseas, mainly pulled down silver prices in futures trade here. In the international market, silver traded 2.39 per cent lower at USD 14.38 an ounce in New York Monday.
Hyundai unveils all new Santro
India's second largest carmaker Hyundai Motor India Ltd will ship out its all new Santro model to global markets apart from catering to the domestic market, said a top company official on Tuesday.
Gold futures plunge Rs 394 on global cues, profit-booking
Gold prices tumbled Rs 394 to Rs 31,249 per 10 grams in futures trade Tuesday as participants indulged in off-loading their exposure in line with a weak trend overseas amid profit-booking at prevailing levels. In futures trade at the Multi Commodity Exchange, gold for delivery in December was trading sharply lower by Rs 394 or 1.25 per cent, at Rs 31,249 per 10 grams in a business turnover of 9,586 lots. Analysts said besides profit-booking by traders at the existing level and weakness in precious metals, led to the fall in gold prices at futures trade here. Globally, gold fell 1.39 per cent to USD 1,187 an ounce in New York yesterday.
Pakistani rupee dives 8 percent in de facto central bank devaluation as IMF bailout talks loom
ISLAMABAD (Reuters) - The Pakistani rupee plunged about 8 percent in early trading on Tuesday in an apparent devaluation by the central bank, market participants said, a day after the new government said it would seek an International Monetary Fund (IMF) bailout.
Nifty, Sensex fall; Tata Motors hits near seven-year low
(Reuters) - Indian shares fell on Tuesday, dragged down by automaker Tata Motors Ltd, as investors refrained from making big bets ahead of corporate results and weakening global cues.