Page 2516 - Business Finance
Castor seed futures up by Rs 32 per quintal
Castor seed prices rose by Rs 32 to Rs 4,671 per quintal in futures trade Tuesday after investors widened their bets amid firm trends. Marketmen said apart from rising demand from consuming industries, short position of stocks in the spot markets mainly led to the rise in castor seed futures. At the National Commodity and Derivatives Exchange, castor seed for October was trading higher by Rs 32, or 0.69 per cent, to Rs 4,671 per quintal, clocking an open interest of 1,41,340 lots. Castor seed for November rose by Rs 27, or 0.57 per cent, to Rs 4,750 per quintal, having an open interest of 35,740 lots.
Accenture to lead digital transformation journey of UTI Asset Management
Accenture has announced its selection to design, implement and manage a digital transformation strategy for UTI Asset Management Company Ltd. (UTI), one of India's largest investment managers, to help the company drive innovation-led growth in the digital economy."Embracing digital is one of the best methods of delivering best-in-class customer experiences in the future," said Imtaiyazur Rahman, UTI's acting CEO."This engagement with Accenture, combined with our own expertise, will help us achieve our vision of becoming the most preferred mutual fund organization in India. This is a strategic investment for our future," he added.Accenture, who will be on a two year contract with UTI, will design their enterprise technology architecture and fast-track its infrastructure modernization, which includes moving certain applications to the cloud and revamping its data security framework;-implement a new marketing automation platform to deliver optimized and cost-effective campaigns to UTI's .
Sensex, Nifty trade near flat line
The Sensex and the Nifty were trading near flat line in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 2.31 points or 0.01% at 37,587.82. The Nifty 50 index was down 6.20 points or 0.05% at 11,371.55.
Hindustan Copper Ltd rises for third straight session
The stock is quoting at Rs 61.5, up 1.4% on the day as on 12:49 IST on the NSE. Hindustan Copper Ltd is down 1.91% in last one year as compared to a 11.99% jump in NIFTY and a 0.17% jump in the Nifty Metal index.
Den Networks Ltd gains for third consecutive session
The stock is quoting at Rs 61.2, up 1.92% on the day as on 12:49 IST on the NSE. Den Networks Ltd is down 35.41% in last one year as compared to a 11.99% drop in NIFTY and a 15.06% drop in the Nifty Media index.
General Insurance Corporation of India spurts 1.97%
The stock is quoting at Rs 354.4, up 1.97% on the day as on 12:49 IST on the NSE. General Insurance Corporation of India is down 18.93% in last one year as compared to a 11.99% spurt in NIFTY and a 8.8% spurt in the Nifty Financial Services index.
U.S. gives rare earths reprieve in revised $200 billion China tariff list
BEIJING (Reuters) - The United States did not include rare earth elements, metals used in magnets, radars and consumer electronics, from its final list of tariffs on $200 billion of Chinese goods, underscoring its reliance on China for the strategic minerals.
Coriander futures rise 1.60% on spot demand
Coriander prices were trading higher by 1.60 per cent at Rs 4,820 per quintal in futures trade Tuesday as participants built up positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing belts also weighed on coriander futures. At the National Commodity and Derivatives Exchange, coriander for this month's contract rose by Rs 76, or 1.60 per cent, to Rs 4,820 per quintal with an open interest of 360 lots. Similarly, the delivery for October was trading higher by Rs 57, or 1.11 per cent, to Rs 5,171 per quintal with an open interest of 27,900 lots. Market analysts attributed the rise in coriander futures to the rise in demand in the physical market against tight stocks on fall in supplies from producing regions.
Guar seed futures recover on short-covering
Guar seed prices rose by Rs 46.50 to Rs 4,225 per quintal in futures trade Tuesday as traders widened their portfolios at existing levels, spurred by rising prices in the spot markets. Marketmen said besides covering-up of short positions by participants, a firm trend at the physical markets following pick up in demand from guar gum makers, lifted guar seed prices in futures trade here. At the National Commodity and Derivatives Exchange, guar seed for October was trading higher by Rs 46.50, or 1.11 per cent, to Rs 4,225 per quintal, with the business turnover in 99,270 open interest lots. Also, the delivery of guar seed for November gained by Rs 44, or 1.04 per cent, to Rs 4,279 per quintal, with an open interest of 18,500 lots.
Dena Bank surges 20%; BoB tumbles 14% post merger announcement
Shares of Dena Bank surged up to 20 per cent, while Bank of Baroda tumbled nearly 14 per cent Tuesday following merger announcement. The scrip of Dena Bank zoomed 19.75 per cent to Rs 19.10 -- its highest trading permissible limit for the day -- on BSE. On the other hand, shares of Bank of Baroda dived 13.76 per cent to Rs 116.50 and Vijaya Bank lost 2.59 per cent to Rs 58.25. The government Monday said state-owned Bank of Baroda, Vijaya Bank and Dena Bank will be merged to create the country's third largest lender as part of efforts to revive credit and economic growth. The move follows top lender State Bank of India last year merging with itself five of its subsidiary banks and taking over Bharatiya Mahila Bank, catapulting it to be among top 50 global lenders. Post this merger, the number of PSU banks will come down to 19.
Benchmarks bounce back amid volatility
A bout of volatility was witnessed as the key barometers bounced back in early afternoon trade. At 12:22 IST, the barometer index, the S&P BSE Sensex, was up 42.20 points or 0.11% at 37,627.71. The Nifty 50 index was up 10.90 points or 0.10% at 11,388.65. Sentiment continued to be fragile as US-China trade tensions took a renewed toll on investor appetite for risky assets.
U.S. willing to exempt Indian steel, aluminium exports from high tariff with riders: ET NOW
NEW DELHI (Reuters) - The United States is willing to grant a conditional waiver to Indian steel and aluminium products from higher import tariff, television channel ET NOW said on Tuesday citing sources.
Headwinds before takeoff for new Thai Airways team
BANGKOK (Reuters) - Struggling national carrier Thai Airways International PCL is pinning hopes of a revival to its 1990s heyday on a new leadership team, jet purchases and improving its brand as tourism booms in the region.
Oil prices fall as U.S.-China trade war clouds demand outlook
BEIJING/SINGAPORE (Reuters) - Oil markets slipped on Tuesday as the latest escalation in the Sino-U.S. trade war clouded the outlook for crude demand from the two countries, the world's top crude consumers.
Trump to slap tariffs on $200 bn worth of Chinese goods
US President Donald Trump has escalated his trade war with China, saying his administration would impose tariffs on $200 billion worth of goods and was also prepared to tax all imports.
L&T wins contracts worth Rs 2,048 crore
Infrastructure major Larsen & Toubro (L&T) Tuesday said its construction arm has won contracts worth Rs 2,048 crore across two business segments. Power transmission and distribution business of L&T Construction has bagged orders worth Rs 1,633 crore in the domestic market, it said in a BSE filing. "The business has secured a major order for a Main Plant Electrical Package of units 3 & 4 of the Kudankulam Nuclear Power Project," L&T said. Besides, L&T Construction's water and effluent treatment business has secured an order worth Rs 415 crore. Shares of the company were trading 0.28 per cent up at Rs 1,348.05 apiece on BSE.
Global Markets: Asian shares rebound even as Sino-U.S. trade tensions intensify
SYDNEY (Reuters) - Asian shares rebounded on Tuesday as Chinese markets proved resilient to a new round of tariffs from the United States although the mood was cautious as investors braced for a further escalation of tensions between the two giants.
Sensex falls tracking global cues; Unilever gains
(Reuters) - Indian shares were lower on Tuesday dragged by financial stocks, as sentiment across the globe turned sour amid worsened trade tensions between the U.S. and China.
Gallantt Metal Ltd leads gainers in 'B' group
Commercial Engineers & Body Builders Company Ltd, Fortune Financial Services (India) Ltd, Bajaj Hindusthan Sugar Ltd and Bedmutha Industries Ltd are among the other gainers in the BSE's 'B' group today, 18 September 2018.
Infosys says arbitrator rules in favour of ex-CFO's severance pay
(Reuters) - Infosys Ltd said on Tuesday an arbitration tribunal has ruled in favour of former chief financial officer Rajiv Bansal's disputed severance package.