Page 2335 - Business Finance
CCI dismisses complaint against distributor of 'Vivo' handsets Fangs Technology
The Competition Commission has dismissed a case alleging unfair business practices against Fangs Technology, engaged in business of trading and distribution of 'Vivo' mobile handsets, with regard to distributorship agreement. Noting that "no contravention of either section 3 or section 4 of the Act is made out" against Fangs Technology Pvt Ltd, the Competition Commission of India (CCI) ordered the closure of the matter. While Section 3 deals with anti-competitive agreements, Section 4 pertains to abuse of dominant market position. The ruling came on the complaint filed by Tamil Nadu Consumer Products Distributors Association alleging unreasonable and unfair conditions imposed on distributors after entering into ''Vivo distributorship agreement" with Fangs Technology. For the case, the fair trade regulator considered the 'market for smartphones in India', as the relevant one and also observed that Fangs was not in dominant position in it. On the allegation with regard to Fangs imposing
NBFC stocks under pressure, DHFL slumps 18.5 pc
Shares of NBFCs fell up to 18.5 per cent Monday after the Reserve Bank said it is looking at strengthening the guidelines to avoid situations of asset liability mismatch (ALM) by non-banking lenders. The scrip of DHFL crashed 18.52 per cent, Edelweiss Financial Services 13.67 per cent, Shriram City Union Finance 6.82 per cent, Cholamandalam Investment and Finance Company 6.07 per cent, Muthoot Capital Services 4.48 per cent and Motilal Oswal Financial Services 2.48 per cent on the BSE. Among others, shares of Srei Infrastructure Finance declined 2.48 per cent and Mahindra & Mahindra Financial Services 2.37 per cent. Asserting that the NBFC sector is "overall quite strong", RBI Deputy Governor NS Vishwanathan Friday hinted at additional efforts to ensure they do not have to undergo ALM in the future. The RBI is looking at strengthening the guidelines to avoid situations of ALM by non-banking lenders, especially infrastructure financing NBFCs dependent on short-term liabilities like
ASK Investment, Puranik Builders among 4 cos to get Sebi's nod for IPO
As many as four companies, including wealth management firm ASK Investment Managers and real estate developer Puranik Builders, have received markets regulator Sebi's approval to float initial share-sales. The other two companies are IT solutions firm Nihilent and Muthoot Microfin. Nihilent obtained "observations" from the markets regulator on October 1, while the other three firms got the same on October 5, as per the latest update with Securities and Exchange Board of India (Sebi). The regulator's observations are necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer and rights issue. These four companies had approached Sebi between June and August, seeking its clearance to launch initial public offers. Going by the draft papers, ASK Investment Managers' IPO comprises fresh issuance of shares worth up to Rs 600 crore besides an offer for sale of up to 1,35,69,405 shares by private equity company AI Global and 44 lakh stocks by ...
Infosys Foundation announces Rs 1.5 cr reward for innovation in social work
The winners will have an option of technical mentorship at IIT Hyderabad to help them further develop their solutions.
Exclusive: EU regulators to okay without conditions Microsoft, GitHub deal - sources
BRUSSELS (Reuters) - EU antitrust regulators are set to approve Microsoft's $7.5 billion bid for coding website GitHub without demanding concessions, two people familiar with the matter said on Monday.
Rupee slumps 30 paise to close at record low of 74.06
The rupee slumped by 30 paise to finish at a fresh lifetime low of 74.06 against the US dollar Monday amid strengthening of the greenback and steady capital outflows. The rupee had opened lower by 14 paisa against Friday's close of 73.76 in early trade as the US dollar strength against major global currencies weighed on the rupee sentiment. At the Interbank Foreign Exchange (Forex) market, the local currency opened lower at 73.89 a dollar against its previous closing of 73.76. It recovered to a high of 73.76, but failed to sustain the momentum and plunged to 74.10 and finally closed at 74.06, down by 30 paise, marking its fifth straight session of decline. On Friday, the domestic unit plummeted by 18 paise to end at 73.76.
Global Markets: Shares slide on 'powerful cocktail' of China slump, Treasuries and Italy
LONDON (Reuters) - European markets fell on Monday as investor confidence took a knock from last week's spike in Treasury yields and from a Chinese market slump brought on by concern that an escalating trade war with the United States could curb China's growth.
ANAROCK Releases Real Estate Consumer Outlook - H2 2018
/ -- 51% homebuyers seek rental income, 39% prefer affordable housing 39% prefer to invest in housing priced below ?40 Lakh 68% seek property for end-use; 52% favour compact 2BHKs 51% of investors focused on rental returns As many as 81% of polled aspiring homebuyers acknowledge Indian real estate's improved and improving transparency, discipline and accountability post implementation of regulatory policies, reveals ANAROCK Property Consultants' 'Real Estate Consumer Outlook: H2 2018'. (Logo: https://mma.prnewswire.com/media/701435/ANAROCK_Logo.jpg ) Commenting on the survey, Anuj Puri, Chairman - ANAROCK Property Consultants says, "With the now discernible impact of RERA, DeMo and GST, housing sales are seeing an upward trajectory in 2018 q-o-q. New launches have also gone up this year with affordable housing witnessing significant growth. NRIs see India's rebooted real estate market environment conducive enough to justify property investments, especially on the back of the ...
Prudential Plc eyes takeovers, bank distribution pacts in Asia
HONG KONG (Reuters) - Britain's largest listed insurer Prudential Plc is eager to make acquisitions in Asia and is eyeing distribution partnerships with banks in countries including Indonesia and Vietnam to boost growth, its Asia chief executive said.
Graphic: Banks, brokerages cut forecasts for emerging market firms
(Reuters) - Slower growth at the developing world's big homegrown companies in the second quarter has led analysts to cut their profit and price estimates sharply since the end of June, according to a Reuters analysis of data on thousands of listed firms.
Britain's Schroders gains on potential Lloyds wealth deal
(Reuters) - A wealth management tie-up between Schroders and Lloyds would give the asset manager access to the distribution network of Britain's biggest bank, which would gain investment skills and greater diversification, analysts said.
India lacks ecosystem for electric cars: Volkswagen official
India does not have a "clear vision" and "ecosystem" in place for the promotion of electric cars, a senior official of European car manufacturer Volkswagen said here on Monday. "India needs to have a political framework and a clear vision for electric cars. The vision is loose. For (promotion of electric cars), there has to be a lot of subsidies," director of Volkswagen Passenger Cars (India), Steffen Knapp, said here. Knapp, who was here to mark the company's 10 years of its association with Automark Motors, one of its leading dealers in the country, said it does make sense for the company to sell electric cars in India in the absence of a clear vision on part of the government. He said government will require to give a lot of subsidies to make it viable for the company to invest in electric cars in India. "There needs to be a clear guidance. We are not in a position at the moment. It is about standardisation of charging stations, which is not clear," he said. He said .
Nifty October 2018 futures at premium
F&O segment turnover at Rs 7.94 lakh crore
Sportking India allots 15 lakh preference shares
Powered by Capital Market - Live News
Quick Wrap: Nifty Energy Index records a surge of 4.14%
Powered by Capital Market - Live News
Oil drops below $83 on expectations Iran will maintain some exports
LONDON (Reuters) - Oil dropped below $83 a barrel on Monday, pressured by expectations that some Iranian oil exports will keep flowing after the U.S. reimposes sanctions, easing a strain on supplies.
Gold slides alongside equities as dollar climbs
BENGALURU (Reuters) - Gold fell alongside equity markets on Monday partly in response to gains in the dollar which is benefiting from a run of strong U.S. economic data reinforcing expectations of further interest rate rises.
Value buying, Q2 expectations buoy equity indices; Sensex up 100 points
The key equity indices closed in the green on Monday on the back of value buying after last week's heavy declines and expectations of a positive set of corporate earnings.
Aavas Financiers shares make weak debut, drop 6%
Shares of housing finance company Aavas Financiers made a weak debut at the bourses Monday and ended 6 per cent lower against the issue price of Rs 821 per share. The stock listed at Rs 758, a fall of 7.67 per cent from the issue price on BSE. During the day, the scrip plunged 13.52 per cent to Rs 710. It finally ended 5.82 per cent lower at Rs 773.15. On NSE, shares of the company settled at Rs 771, plunging 6 per cent as compared to the issue price. The stock had listed at Rs 750, a discount of 8.64 per cent from the issue price. In terms of equity volume, 4.96 lakh shares of the company were traded on BSE and over 35 lakh shares changed hands on NSE during the day. The company's market valuation stood at Rs 6,038.91 crore on BSE. Aavas Financiers' Rs 1,734 crore initial public offer ran from September 25 to September 27, and was subscribed 97 per cent. Price band for the offer was fixed at Rs 818-821 per share. ICICI Securities Limited, Citigroup Global Markets India Private ...