Page 2336 - Business Finance
Benelli India cuts after sales service costs by 34%
Italian premium bikes maker Benelli Monday announced lowering its after sales service costs by more than a third for its customers in India. The company in a release said it has revised the service intervals from every 4,000 kms or four months periodic service to 6,000 kms or six months periodic service. With the change in service schedule, the cost of servicing has dropped up to 34 per cent and this benefit is offered to all existing customers owning Benelli TNT25, TNT 300 TNT 302R TNT 600i TNT 600 GT and TNT 899 models, it said. Owned by China's QianJiang group, the bike maker had in August said that it plans to launch a total of 12 models by next year. It had recently signed an initial pact with Telangana-based Adishwar Auto Ride International (AARI), a subsidiary of Mahavir group, to market its products and set up a local manufacturing facility near Hyderabad. "Our on-going national service camp has allowed us to connect with Benelli owners from all over the country ..
Sensex, Nifty snap three sessions of losses to close higher
(Reuters) - Indian shares snapped three sessions of losses and ended higher on Monday, after swinging between gains and losses through the day, as oil marketing companies continued to drive gains, while metal and some non-banking financial stocks dragged the investor sentiment.
Market ends in the green, breaks three-day losing streak
In a highly volatile session, value-buying by investors in recently battered banking, oil & gas and auto stocks reversed the three-session losing streak, helping the Sensex and Nifty to close on a positive note Monday. The Sensex swung over 660 points both ways on alternate bouts of selling and buying. The 30-share Sensex touched a high of 34,636.43 on the back of sustained buying by domestic institutional investors (DIIs), but later turned choppy and hit a low of 33,974.66 as selling pressure gathered momentum. However, amid buying towards the fag-end, it recovered to close the day higher by 97.39 points, or 0.28 per cent, at 34,474.38. The 30-scrip gauge had lost 2,149.15 points in the previous three straight sessions. The 50-share NSE Nifty too recovered by 31.60 points, or 0.31 per cent, to end at 10,348.05. During the session, it moved between 10,198.40 and 10,398.35. Besides value buying, covering-up of short positions by investors also aided the recovery in the ...
Educational institutes providing services to NRI students eligible for export incentives
Institutes providing education to non-resident Indians (NRIs) will be eligible to claim services export incentives under the commerce ministry's SEIS scheme. Providers of eligible services are entitled to duty credit scrips on net foreign exchange earned under the Services Exports from India Scheme (SEIS). The directorate general of foreign trade (DGFT), under the commerce ministry, has stated that it has received references from members of trade seeking clarification on eligibility of firms providing educational services to NRI students for benefits under the scheme. "It is clarified that for the purpose of claim of SEIS benefits...the educational services rendered by Indian institutes to NRIs (who constitute foreign consumers) are eligible for SEIS benefits under the foreign trade policy," the DGFT said in a policy circular. However, it said that services given to Indian students sponsored by NRIs would not be eligible, since such category of students cannot be considered as foreign
Nobel Prize in Economics awarded to 2 Americans
The Nobel Prize in Economic Sciences 2018 was awarded on Monday to American economists William Nordhaus and Paul Romer for designing methods that address fundamental and pressing issues including long-term sustainable growth in the global economy.
India needs innovation overdrive to sustain momentum: Naidu
With India striving to become a five trillion-dollar economy by 2025, Vice President M. Venkaiah Naidu on Monday said the country has to go on an innovation overdrive to sustain the momentum.
Ready-to-move-in flats in hot demand; only 5% home buyers want to invest in new projects: Survey
With many real estate projects stuck across the country, prospective home buyers are shying away from investing in newly launched projects and instead looking for ready-to-move-in flats or units to be completed within next six months, according to a survey. As per the online survey by property consultant ANAROCK, about 49 per cent respondents prefer ready-to-move-in properties while 35 per cent are looking to buy property which will be in ready-to-move-in stage within the next six months. Eleven per cent participants favoured those properties that will be ready within a year and only 5 per cent buyers want to put their money in newly launched projects. The survey was conducted in seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Hyderabad, Chennai, Kolkata and Pune -- and saw participation of 2,621 people. "Ready-to-move-in property has become the flavour of the season with buyers preferring to see what they get. More so, buyers prefer to stay away from ...
Snapdeal's 5-day mega Diwali sale starts on October 10th
Snapdeal has announced its 'Mega Diwali Sale', from 10- 14 October.Snapdeal's Diwali Sale is built around offering great value on products, which are traditionally a part of annual Diwali shopping by families across the country. In recent months, Snapdeal has seen massive growth in business from both existing and new buyers, with nearly 80% of the new buyers coming from smaller cities across the country."The offers and selection in the Snapdeal Mega Diwali Sale are built on basis of an analysis of user purchase patterns over the past many festive seasons. We want our users to fulfil their entire Diwali shopping list, without being troubled by budgets now or EMIs later," said Snapdeal.The special Diwali selection offers great discounts up to 50 per cent on household items and appliances for the kitchen including microwaves, juicer mixers, gas stoves, cookers, glassware, dinner sets and more.No Diwali shopping list is complete without sprucing up the home and for this Snapdeal has a ...
Usha Martin union raises concern over irregular payment of salaries at Ranchi plant
A union of Usha Martin has raised concerns about irregular payment of salaries and sought government's intervention for sale of the company's wire rope manufacturing facility in Jharkhand to Tata Steel. Hind Mazdoor Sabha affliate Engineering Labour Union of Usha Martin Ltd has written a letter to Jharkhand Chief Minister Raghubar Das over the issue, weeks after Tata Steel announced the acquisition of the steel business of Usha Martin Ltd (UML) for Rs 4,300-4,700 crore. "We the workers of Usha Martin Ltd, Tatisilwai, Ranchi (Jharkhand) want to draw your attention towards the exploitation meted out to the workers of the company by the management of the company...From the past two to three years the company is not paying the salaries to its workers on time," the letter noted. The union has also urged the government that company should be acquired by the Tata Steel so that the future of the employees is secure. Usha Martin Ranchi facility is spread across an area of more than 100 acres, .
Amazon makes special offers for festival sale
The world's leading e-tailer Amazon is making special offers for the ensuing festival season to online shoppers from Wednesday, said the Indian arm of the US-based e-commerce major on Monday.
Goa Carbon reports standalone net loss of Rs 1.27 crore in the September 2018 quarter
Sales decline 24.77% to Rs 113.33 crore
Welcure Drugs & Pharmaceuticals reports standalone nil net profit/loss in the September 2018 quarter
Reported sales nil
Tata Elxsi standalone net profit rises 43.57% in the September 2018 quarter
Sales rise 17.72% to Rs 402.78 crore
Dewan Housing Finance Corporation Ltd leads losers in 'A' group
JM Financial Ltd, Edelweiss Financial Services Ltd, IIFL Holdings Ltd and DCM Shriram Ltd are among the other losers in the BSE's 'A' group today, 08 October 2018.
Goa Carbon Ltd leads losers in 'B' group
Celestial Biolabs Ltd, Onward Technologies Ltd, GPT Infraprojects Ltd and Nu Tek India Ltd are among the other losers in the BSE's 'B' group today, 08 October 2018.
World's First Shared Trading Platform, Exchain, Launches Public Beta Test
/ -- The world's first shared trading platform, Exchain, rolled out its public beta test on October 6, 12:00 am (GMT +8). Exchain is invested by oversea institutes and industry professionals, builds branches in Singapore, HK, US, China, etc. Exchain aims to build a transparent, open and mutually beneficial trading platform that is co-owned, shared and governed by the public and features shared benefits, monitoring and transaction transparency. In order to better create a shared trading platform, Exchain comes with several features: the transaction is a form of investment in the platform; no transaction fees for the first three months; availability of partner programs; and the ability to issues ICOs that will never be subject to listing fees. These features set up a scenario whereby both the project developer and the users of the exchange can participate in co-ownership, sharing and co-governance. Exchain adopted the "transaction is a form of investment" model, in which users can, ...
Market extends losses
Key indices extended losses and hit fresh intraday low in mid-afternoon trade. At 14:28 IST, the barometer index, the S&P BSE Sensex, was down 380.25 points or 1.11% at 33,996.74. The Nifty 50 index was down 102.60 points or 0.99% at 10,213.85. Negative global cues and a weak rupee spoiled investors' sentiment.
India has potential to fill in the gaps left by America in the Chinese market: India-China Trade Study
While releasing the study the Minister said that most industry associations want the Government to pursue a defensive approach to Free Trade Agreements (FTAs) and raise tariffs on the doctrine of domestic markets for domestic producers. Protectionist policies are on the rise globally. The global use of protectionist measures in 2018 was unprecedented with the trade wars looming between two of the largest economies of the world.
Volumes spurt at Finolex Industries Ltd counter
Finolex Industries Ltd notched up volume of 1.29 lakh shares by 14:14 IST on NSE, a 4.29 fold spurt over two-week average daily volume of 30008 shares