Page 2329 - Business Finance
Nickel futures down Rs 2.60/kg on low spot demand
Nickel futures fell by Rs 2.60 to Rs 937.60 per kg Tuesday after participants cut down their holdings amid subdued domestic demand. In futures trading at the Multi Commodity Exchange,nickel for delivery in October declined by Rs 2.60, or 0.28 per cent to Rs 937.60 per kg in a business turnover of 30,633 lots. The fall was in line with a weak trend at the domestic spot markets due to muted demand from alloy-makers, traders said.
Maruti Suzuki India flags off field testing for proto-type Electric Vehicles
At its Gurugram facility
Global Markets: Asia shares hit 17-month low, China lets yuan slip
SYDNEY (Reuters) - Asian shares hit 17-month lows on Tuesday as China allowed its currency to slip past a psychological bulwark amid recent losses in domestic share markets, a shift that pressured other emerging currencies.
Chana futures climb 0.43 pc on spot demand
Chana prices were higher by 0.43 per cent at Rs 4,266 per quintal in futures trade Tuesday after participants enlarged their portfolios amid pick up in demand from dal mills in the spot markets. In futures trading at the National Commodity and Derivatives Exchange, chana for delivery in December rose by Rs 18, or 0.43 per cent, to Rs 4,266 per quintal with an open interest of 1,970 lots. Similarly, the commodity for November delivery edged higher by Rs 3, or 0.07 per cent, to Rs 4,183 per quintal in 48,730 lots. Analysts attributed the rise in chana prices in futures trade to widening of positions by speculators, tracking a firm trend at the domestic spot market on strong demand.
IMF says not yet approached by Pakistan for financial assistance
NUSA DUA, Indonesia (Reuters) - Pakistan has not yet formally approached the International Monetary Fund for financial assistance, but if bailout talks get underway this week, the goal will be to help Pakistan reach its full potential, the IMF's chief economist said on Tuesday.
Hyundai Santro to make comeback later this month in India
South Korean auto major Hyundai Tuesday said it will bring back its once popular hatchback, Santro in an all new avatar in India later this month. The company, which operates here in the country through wholly-owned subsidiary Hyundai Motor India (HMIL), had discontinued the previous Santro model from December 2014. The all-new Santro, which was developed under the code name AH2, will be powered by a 4-cylinder 1.1 litre petrol engine. It will also be available with automated manual transmission (AMT) and factory-fitted CNG fuel options. HMIL Managing Director and CEO Y K Koo said the company decided to name the "new family car" as Santro following an overwhelming response from customers in an online poll. "The AH2 retains the values of the Santro in the form of a 'modern Tall Boy' car," he said here. The company will open online pre-bookings for the all-new Santro from October 10-22 with Rs 11,100 as booking amount for the first 50,000 customers. "We will have the global premiere of .
Market breadth turns negative
Key indices trimmed losses after hitting fresh intraday low in mid-morning trade. At 11:21 IST, the barometer index, the S&P BSE Sensex, was down 90.92 points or 0.26% at 34,383.46. The Nifty 50 index was down 37.15 points or 0.36% at 10,310.90.
IMF cuts world economic growth forecasts as import tariffs, emerging market issues bite
NUSA DUA, Indonesia (Reuters) - The International Monetary Fund on Tuesday cut its global economic growth forecasts for 2018 and 2019, saying that trade policy tensions and the imposition of import tariffs were taking a toll on commerce while emerging markets struggle with tighter financial conditions and capital outflows.
Market indices open positive, Rupee gains in early trade
Market indices registered significant gains on Tuesday morning after days of rallying in red, backed by significant gains in the Indian Rupee and select sectoral indices.The BSE's Sensex opened nearly 100 points higher at 34563.86, while Nifty managed to regain the 10,350 mark to trade at 10,365.60.Pharmaceutical, financial and energy sectors saw maximum gains in morning trade. Shares of JSW Steel and Coal India witnessed 2-5 per cent rise, with the former witnessing an upgradation in long-term ratings.Meanwhile, the Indian Rupee opened 19 paise higher at Rs 73.87 per dollar from its previous close of Rs. 74.06.
National Housing Bank Increases the Refinance Limit to Rs 30000 crore for FY19
National Housing Bank had set an inital limit to sanction Rs. 24,000 crore this year (July 2018-June 2019) towards refinancing eligible institutions. Till date, Rs.8835 crore has been sanctioned. This refinancing is a credit flow to Housing Finance Companies & other Institutions.
Volumes jump at Inox Leisure Ltd counter
Inox Leisure Ltd witnessed volume of 3.27 lakh shares by 10:48 IST on BSE, a 35.98 times surge over two-week average daily volume of 9093 shares
L&T Finance Holdings plans to raise Rs 250 crore
Through private placement of preference shares
Puravankara acquires 60% stake in D.V. Infrhomes
Through its subsidiary - Provident Housing
IMF projects India's growth at 7.3 per cent in 2018, 7.4 per cent next year
India is projected to grow at 7.3 per cent in 2018 and 7.4 per cent next year, the IMF said Tuesday in its latest report, predicting India to regain the tag of the world's fastest growing major economy this year, crossing China with more than 0.7 percentage points. In 2017, India had clocked a 6.7 per cent growth rate. In India, important reforms have been implemented in the recent years, including the Goods and Services Tax (GST), the inflation-targeting framework, the Insolvency and Bankruptcy Code, and steps to liberalise foreign investment and make it easier to do business, the International Monetary Fund (IMF) said in its latest World Economic Outlook (WEO) report. "India's growth is expected to increase to 7.3per cent in 2018 and 7.4per cent in 2019 (slightly lower than in the April 2018 World Economic Outlook (WEO) for 2019, given the recent increase in oil prices and the tightening of global financial conditions), up from 6.7per cent in 2017," it said in the WEO report. This ..
Market turns volatile
Trading turned volatile as key benchmarks reversed intraday gains and slipped into negative terrain in morning trade. At 10:26 IST, the barometer index, the S&P BSE Sensex, was down 5.85 points or 0.02% at 34,468.53. The Nifty 50 index was flat at 10,347.65.
IL&FS group companies slump
Shares of the IL&FS group companies were locked in lower circuit at 10:40 IST on BSE after its parent defaulted on debt obligations.
Pakistani rupee tumbles about 5 percent in apparent central bank devaluation: market participants
ISLAMABAD (Reuters) - The Pakistani rupee plunged about 5 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.
Indus Towers Wins Deming Prize for 2018
/ -- Indus Towers becomes the first Indian company in the service sector and fifth globally to achieve this feat Indus Towers, world's largest telecom tower company (outside China), won the Deming Prize for 2018, being the first Indian company in the service sector and the fifth in the world to achieve this. The Deming Prize was bestowed on Indus Towers for distinctive performance improvements through the application of Total Quality Management (TQM) practices. Being a globally renowned award, the Deming Prize is the oldest and most widely recognized, given to companies that have established customer-oriented business objectives and strategies, and implemented TQM to achieve them. Indus Towers is only the 29th Indian company to win this coveted award, with other notable names including Tata Steel, Ashok Leyland, Mahindra and Mahindra, and NBC Bearings, etc. Commenting on the latest recognition, Bimal Dayal, CEO, Indus Towers said, "We are honored to receive the prestigious Deming ...
JMC Projects bags orders worth Rs 514 cr
Civil engineering firm JMC Projects Tuesday said it had secured orders worth Rs 514 crore in the domestic market. The company said it has received two orders totalling Rs 236 crore for construction of educational institutes in Andhra Pradesh, JMC Projects said in a regulatory filing. It has also won civil construction and related mechanical, electrical, plumbing (MEP) works for residential building in Telangana for Rs 141 crore and civil works for a steel plant in Odisha for Rs 137 crore. JMC Projects (India) is an arm of Kalpataru Power Transmission. Shares of JMC Projects were trading 3.68 per cent higher at Rs 74.60 apiece on BSE.
China must take strong stimulus measures to support growth: state media
BEIJING (Reuters) - China must take strong stimulus measures to support growth, with the country in a "critical" period of stabilising its economy, according to a commentary in the Global Times, a state-backed Chinese tabloid.