Page 2354 - Business Finance
Samsung flags third-quarter profit jump to record, but chip price falls cast shadow
SEOUL (Reuters) - Samsung Electronics Co Ltd estimated third-quarter operating profit jumped by a fifth to a record high, with its semiconductor unit bolstered by robust demand from data centres and gains in production yields.
RBI and the government must work closely in balancing the growth need and inflation concerns: FICCI
"The RBI Monetary Policy stance, slated to be announced tomorrow, therefore, is coming at a crucial time when there are increasing pressures on the inflation front and there is also a need to support growth revival," said Mr Rashesh Shah, President, FICCI.
Unilever withdraws proposal to move to Netherlands
LONDON (Reuters) - Unilever on Friday said its board had withdrawn its proposal to move to the Netherlands, after a growing tide of opposition by UK shareholders.
Dilip Buildcon receives orders worth Rs 476.02 cr for Bhopal, Indore Metro Rail project
Highways builder Dilip Buildcon (DBL) Friday said it has won orders worth Rs 476.02 crore for Bhopal and Indore Metro Rail project. "DBL has received letter of acceptance (LoA) for Bhopal and Indore Metro Rail project, phase-I, valued at Rs 247.06 crore and Rs 228.96 crore, respectively, by the Madhya Pradesh Metro Rail Co. Ltd, Urban Administration and Development Department, Bhopal (MP)," the company said in a BSE filing. Shares of Dilip Buildcon were trading 0.03 per cent lower at Rs 625.40 apiece on BSE.
Twitter accounts linked to fake news still thriving: Study
Twitter still remains a hotbed for accounts spreading fake news, suggests a new study that looked into how fake and conspiracy news flourished on the microblogging site both before and after the 2016 US presidential election.
Jeera up 0.16% on rising domestic demand
Jeera prices increased by Rs 30 to Rs 19,000 per quintal in futures trade Friday on higher bets, tracking a firm trend at the spot market in the wake of rising domestic demand. Further, tight stocks position following restricted arrivals from the growing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, jeera for delivery in the current month rose Rs 30, or 0.16 per cent, to Rs 19,000 per quintal with an open interest of 5,001 lots. On similar lines, November rates were trading higher at Rs 19,145, up by Rs 30, or 0.16 per cent quintal with an open interest at 4,632 lots. Analysts said the rise in jeera prices in futures trade was supported by increased buying by retailers and stockists at the spot market amid restricted supplies from producing regions.
Refined soya oil futures decline on adequate supply
Refined soya oil prices drifted down by 0.42 per cent to Rs 762 per 10 kg in futures trading as speculators engaged in reducing their positions amid sufficient stocks position at the spot market against subdued demand. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-mlnth December declined by Rs 3.25, or 0.42 per cent to Rs 762 per 10 kg with an open interest of 6,430 lots. Similarly, the oil for delivery in November shed Rs 1.75, or 0.23 per cent to Rs 714.30 per 10 kg in 33,860 lots. Market analysts said cutting down of positions by participants on the back of tepid demand in the physical market against ample stocks position on increased supplies from producing belts, mainly kept refined soya oil prices down at the futures trade.
Steel Strips Wheels bags export order from OPEL Spain (PSA Group company)
This order will help SSWL to further strengthen its position as a preferred supplier in the PSA Group. SSWL has been in strong business relationship with PSA since last 9 years and this new nomination only reflects their level of trust in SSWL's capabilities. This business will also support SSWL to grow its presence in the challenging EU Steel wheels market.
HDFC allots 84.57 lakh equity shares
On conversion of warrants
Oil & gas stocks tumble
Stocks staged mild recovery in mid-morning trade after seeing steep intraday slide. At 11:15 IST, the barometer index, the S&P BSE Sensex, was down 295.44 points or 0.84% at 34,873.72. The Nifty 50 index was down 121.50 points or 1.15% at 10,477.75. Shares from oil & gas sectors dropped sharply. Negative Asian stocks weighed on the sentiment.
Turmeric futures down 0.38%, low demand hurts
Turmeric prices moved down by 0.38 per cent to Rs 6,800 per quintal in futures trade Friday as participants reduced exposure amid easing demand at the domestic spot markets against adequate stock position. Besides, increased arrivals from major producing belts weighed. At the National Commodity and Derivatives Exchange, turmeric for delivery in November fell by Rs 26, or 0.38 per cent, to Rs 6,800 per quintal, with an open interest of 11 lots. In contrast, the October rates were up by Rs 15, or 0.22 per cent, to Rs 6880 per quiontal, having an opening interest of 7,540 lots. Marketmen said off-loading of positions by traders, driven by fall in demand in the spot market against ample stock position on increased supplies from growing regions, mainly put pressure on turmeric prices in futures trade.
Nickel futures slide 0.23% on profit-booking
Nickel prices declined by 0.23 per cent to Rs 923.90 per kg in futures trade Friday as speculators booked profits at existing levels amid easing demand at the spot market. At the Multi Commodity Exchange, nickel for delivery in October shed Rs 2.10, or 0.23 per cent to Rs 923.90 per kg in a business turnover of 7,298 lots. Analysts said profit-booking by participants at prevailing levels amid fall in demand from alloy-makers at spot markets, mainly influenced nickel prices at futures trade.
Volumes spurt at Indian Oil Corporation Ltd counter
Indian Oil Corporation Ltd notched up volume of 43.88 lakh shares by 10:48 IST on BSE, a 10.04 fold spurt over two-week average daily volume of 4.37 lakh shares
Copper futures shed 0.57% on muted demand, weak global cues
Copper futures fell 0.57 per cent Friday as speculators booked profit at prevailing high levels amid low demand at spot markets and weak global cues. At Multi Commodity Exchange, copper for November declined by Rs 2.60, or 0.57 per cent, to Rs 454.60 per kg in a business turnover of 1,203 lots. Analysts attributed the fall to off-loading of positions by speculators at prevailing higher levels amid muted demand at the spot markets and a weak trend in global markets.
Silver futures down Rs 113 on profit-booking, global cues
Amid profit-booking by speculators and weak global cues, silver prices dropped by Rs 113 to Rs 38,858 per kg in futures trade Friday. Silver for delivery in far-month December was trading lower by Rs 113 or 0.29 per cent to Rs 38,858 per kg in a business turnover of 790 lots at Multi Commodity Exchange (MCX). Globally, silver traded 0.03 per cent lower at USD 14.64 an ounce in Singapore after precious metals held steady early Friday as investors remained cautious after US Treasury yields hit multi-year peaks and ahead of monthly employment data, which if stronger could boost Federal Reserve's case for a tighter monetary policy. Market analysts said the fall in silver prices at futures trade was mostly attributed to profit-booking by speculators at prevailing levels and weak global cues.
Chana futures slide on profit booking
Chana prices declined by 0.01 per cent to Rs 4,202 per quintal in futures market Friday as speculators booked profits at prevailing levels, triggered by ample stocks position at the spot markets against low demand. At the National Commodity and Derivatives Exchange, chana for delivery in November fell by Rs 4, or 0.04 per cent to Rs 4,202 per quintal with an open interest of 44,520 lots. Likewise, the commodity for delivery in the current month shed Re 1, or 0.01 per cent to Rs 4,200 per quintal in 22,380 lots. Marketmen said besides profit booking by traders at existing levels, fall in demand in physical market against adequate stocks position on increased arrivals from producing belts, mainly attributed fall in chana prices at futures trade.
Italy cuts 2018 economic growth forecast to 1.2 percent
MILAN (Reuters) - Italy cut its economic growth forecast for this year to 1.2 percent from a previous estimate of 1.5 percent, an update to the government's economic and finance document (NADEF) showed on Friday.
Market extends slide
Fresh selling pulled the key benchmark indices to intraday low in morning trade. At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 367.13 points or 1.04% at 34,802.03. The Nifty 50 index was down 141.15 points or 1.33% at 10,458.10. Negative Asian stocks weighed on the sentiment.
Gold little changed, U.S. non-farm payroll data in focus
BENGALURU (Reuters) - Gold prices were steady on Friday as investors remained cautious after U.S. Treasury yields hit multi-year peaks and on expectations that stronger monthly employment data could boost the Federal Reserve's case for a tighter monetary policy.
Lenovo shares tumble, investors fret over impact of chip hack report
HONG KONG (Reuters) - Shares in Lenovo Group Ltd and ZTE Corp plunged on Friday, hurt by concerns their sales could suffer in the wake of a Bloomberg report that U.S. companies' systems had been infiltrated by malicious computer chips inserted by Chinese spies.