Page 2338 - Business Finance
Aavas Financiers shares plunge 9.5 pc in debut trade
Shares of housing finance company Aavas Financiers made a weak debut at the bourses Monday, plunging 9.5 per cent from the issue price of Rs 821 per share. The stock listed at Rs 758, falling 7.67 per cent from the issue price on BSE. On NSE, shares of the company debuted at Rs 750, plunging 9.46 per cent against the issue price. In terms of equity volume, 3.17 lakh shares of the company changed hands on BSE and over 22 lakh shares were traded on NSE during morning trade. 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 Limited, Edelweiss Financial Services Limited, Spark Capital Advisors (India) Private Limited and HDFC Bank Limited were the book running lead managers to the issue.
Nickel futures slide 1.60% on muted demand
Nickel prices declined by 1.60 per cent to Rs 925.20 per kg in futures trade Monday as speculators cut down their bets, driven by easing demand in the spot market. At the Multi Commodity Exchange, nickel for delivery in October was trading lower by Rs 15, or 1.60 per cent, to Rs 925.20 per kg, in a business turnover of 967 lots. Analysts said offloading of positions by participants due to sluggish demand from alloy-makers in the domestic spot market and weakness in some base metals overseas, mainly weighed on nickel prices at futures trade.
GM China sales drop 15 percent in third quarter as market stalls
SHANGHAI (Reuters) - General Motors Co's China sales fell 14.9 percent in the third quarter of the year, hit by a wider slowdown in the market and faltering Chinese economic growth amid a whipsawing trade war with the United States.
Copper futures slide 0.65 pc as traders trim position
Copper prices fell by 0.65 per cent to Rs 453.60 a kg in futures trade Monday as participants cut exposure amid weak global cues. At the Multi Commodity Exchange, copper for delivery in November declined by Rs 2.95, or 0.65 per cent, to Rs 453.60 per kg in a business turnover of 779 lots. Analysts said offloading of positions by traders, tracking subdued demand at the domestic spot market due to weak overseas cues, mainly weighed on copper prices at futures trade.
IT stocks decline
The market pared gains in early afternoon trade as selling emerged at higher levels. At 12:24 IST, the barometer index, the S&P BSE Sensex, was up 124.95 points or 0.36% at 34,501.94. The Nifty 50 index was up 41.65 points or 0.40% at 10,358.10.
Morarjee Textiles Ltd leads gainers in 'B' group
Eurotex Industries and Exports Ltd, Patspin India Ltd, L G Balakrishnan & Bros Ltd and Winsome Textile Industries Ltd are among the other gainers in the BSE's 'B' group today, 08 October 2018.
Oil drops as U.S. considers granting some countries waivers on Iran sanctions
SINGAPORE (Reuters) - Oil prices fell on Monday after Washington said it may grant waivers to sanctions against Iran's oil exports next month, and as Saudi Arabia was said to be replacing any potential shortfall from Iran.
Nifty, Sensex rise led by oil marketers; HPCL among top gainers
(Reuters) - Indian shares rose amid volatile trade on Monday after three sessions of fall, driven by gains in oil marketing companies such as Reliance Industries Ltd, while non-banking financial companies continued to face stress.
Elgi Equipments Ltd leads gainers in 'A' group
Gateway Distriparks Ltd, Time Technoplast Ltd, Yes Bank Ltd and Kwality Ltd are among the other gainers in the BSE's 'A' group today, 08 October 2018.
Bank of Maharashtra reviews MCLR rates
Effective 07 October 2018
Boeing's Indian executive to lead F-15 programme in the US
Boeing India President Pratyush Kumar would lead its F-15 fighter aircraft programme in the US, the global aerospace major said on Monday.
German industry output unexpectedly falls for third month running
BERLIN (Reuters) - German industrial output unexpectedly dipped in August for the third consecutive month, data showed on Monday, and the Economy Ministry said production had suffered a weak summer overall.
China shares weigh on regional markets despite central bank support
SHANGHAI (Reuters) - Shares in Asia slumped Monday as China's markets stumbled in their first trading day after a one-week holiday even though Beijing's central bank increased liquidity to offset the impact of an escalating trade dispute with the United States.
Silver plummets Rs 423 on profit-booking, global cues
Amid profit-booking by speculators and weak global cues, silver prices dropped by Rs 423 to Rs 38,851 per kg in futures trade Monday. Silver for delivery in December was trading sharply lower by Rs 423 or 1.08 per cent to Rs 38,851 per kg in a business turnover of 1,492 lots at Multi Commodity Exchange (MCX). Silver traded 0.11 per cent lower at USD 14.48 an ounce in Singapore. Market analysts said fall in silver prices at futures trade was mostly attributed to profit-booking by speculators at prevailing levels and weak global cues as strengthening dollar eroded appeal for precious metals as a safe haven investment.
Gold futures down Rs 216 on profit booking, global cues
Gold prices drifted lower by Rs 216 to Rs 31,427 per 10 gram in futures trade as participants lightened their positions at prevailing levels amid a weak trend overseas. In futures trade, gold for delivery in December was trading Rs 216 or 0.68 per cent down at Rs 31,427 per 10 gram on the Multi Commodity Exchange with a business turnover of 673 lots. The metal for delivery in February next year, too, fell by Rs 186 or 0.58 per cent to Rs 31,770 per 10 gram in 39 lots. Analysts said apart from profit-booking by speculators at existing levels, metal's fresh weakness in the overseas after dollar strengthened as China's central bank eased its domestic policy to support the economy, weighed on gold futures. In international market, gold lost 0.66 per cent to USD 1,197.50 an ounce in Singapore.
Hong Kong Stocks fall 0.6%
The People's Bank of China (PBOC) moved on Sunday to support the economy by slashing the level of cash that banks must hold as reserves. It was the fourth cut this year and comes as the economy struggles with the drag from an escalating trade dispute with the United States. Reserve requirement ratios (RRRs) - currently 15.5% for large commercial lenders and 13.5% for smaller banks - would be cut by 100 basis points effective Oct. 15, the PBOC said, matching a similar-sized move in April.
Volumes soar at CCL Products (India) Ltd counter
CCL Products (India) Ltd recorded volume of 1.5 lakh shares by 10:48 IST on BSE, a 6.17 times surge over two-week average daily volume of 24355 shares
China Market falls after weeklong layoff
China's central bank moved on Sunday to support the economy by slashing the level of cash that banks must hold as reserves. It was the fourth cut this year and comes as the economy struggles with the drag from an escalating trade dispute with the United States. Reserve requirement ratios (RRRs) - currently 15.5% for large commercial lenders and 13.5% for smaller banks - would be cut by 100 basis points effective Oct. 15, the PBOC said, matching a similar-sized move in April.
Australia Market falls 1.4%
Equity markets around the world were under pressure last week after a steep sell-off in US Treasuries, prompted by hawkish comments from US Federal Reserve officials and data widely seen as bolstering the case of further US rate hikes.
International team to examine Pakistan's efforts against terror financing
A team of international experts has arrived in Pakistan to examine the country's efforts to block terror financing through money laundering and illegal remittances, a media report said on Monday.