Page 2527 - Business Finance
Kwality Ltd leads losers in 'A' group
Ashoka Buildcon Ltd, Redington India Ltd, Future Retail Ltd and Delta Corp Ltd are among the other losers in the BSE's 'A' group today, 17 September 2018.
Nasdaq's Nordic clearing buffer almost fully restored after power trader's default
OSLO (Reuters) - Members of Nasdaq's Nordic commodities exchange have replenished more than 90 percent of vital clearing house contingency funds that were lost last week when a single Norwegian trader defaulted, the exchange operator said.
Officers of Audit and Accounts Service guardians of public trust, financial prudence: Prez
Asserting that CAG reports play a pivotal part in enforcing accountability on the executive, President Ram Nath Kovind said Monday that officers of the Audit and Accounts Service are guardians of public trust and financial prudence. The president was addressing separate groups of officer trainees of the Indian Audit and Accounts Service, Indian Trade Service and Indian Information Service, who had called on him at Rashtrapati Bhavan here. Addressing the officer trainees, Kovind said that the Audit and Accounts Service officers have a critical role in ensuring the accountability of the executive to the legislature. "The reports of the CAG (Comptroller and Auditor General), submitted to the legislature, play a pivotal part in enforcing accountability on the executive. Officers of the Audit and Accounts Service are guardians of public trust and financial prudence," he said. The president said that in today's globalised world, the strength of a nation is assessed by the strength of its ...
Poddar Housing & Development Ltd leads losers in 'B' group
TCI Developers Ltd, Ducon Infratechnologies Ltd, Bedmutha Industries Ltd and Advani Hotels & Resorts (India) Ltd are among the other losers in the BSE's 'B' group today, 17 September 2018.
Ayla Networks joins Tata Elxsi to deliver IoT solutions for CSPs
California-based Internet of Things (IoT) company Ayla Networks on Monday announced a strategic partnership with global technology and design services provider Tata Elxsi to help communications service providers (CSPs).
Mindtree partners IIT Madras on faculty position in AI
Global technology services company Mindtree on Monday said it has entered into a partnership with the Indian Institute of Technology Madras (IIT Madras) to set up a dedicated faculty fellow position in data science and Artificial Intelligence (AI).
Sensex, Nifty turn range bound
Key indices were hovering in a narrow range near day's low in mid-afternoon trade. At 14:23 IST, the barometer index, the S&P BSE Sensex, was down 393.58 points or 1.03% at 37,697.06. The Nifty 50 index was down 106.05 points or 0.92% at 11,409.15. The Sensex was trading below the psychologically important 38,000 mark.
Volumes spurt at Oracle Financial Services Software Ltd counter
Oracle Financial Services Software Ltd registered volume of 9.41 lakh shares by 14:14 IST on NSE, a 16.95 fold spurt over two-week average daily volume of 55505 shares
Swiss watchdog raps Credit Suisse for anti-corruption failings
ZURICH (Reuters) - Credit Suisse failed to adequately combat money laundering in suspected corruption cases linked to soccer's ruling body FIFA and Venezuelan and Brazilian state oil companies, Switzerland's financial watchdog FINMA said on Monday, dealing a blow to the bank's reputation.
Global shares knocked after new U.S. tariff threat on Chinese goods
LONDON (Reuters) - European share markets followed Asian counterparts lower on Monday as investors took fright at news Washington was set to announce a new round of tariffs on Chinese goods in the latest escalation of their trade conflict.
Oil higher as U.S. Iran sanctions raise supply concerns
BEIJING (Reuters) - Oil prices rose on Monday as investors focused on the impact of U.S. sanctions on Iran despite assurances by Washington that Saudi Arabia, Russia and the United States could together raise output fast enough to offset falling supplies.
Jharkhand Petrol and Diesel Association calls for strike on October 1
The Jharkhand Petrol and Diesel Association has called a strike on October 1 against the rising fuel prices.
Another independent director of Jaypee Infratech resigns; fourth in last one week
Jaypee Infratech, which is facing insolvency proceedings, Monday said that the company's independent director Sham Lal Mohan has resigned citing personal reasons. Last week, three independent directors Lalit Bhasin, Keshav Prasad Rau and Basant Kumar Goswami had resigned from the board. Goswami resigned because of his growing age and indifferent health, and others cited personal reasons. In a BSE filing, Jaypee Infratech said the company has received intimation dated 17th September from Sham Lal Mohan, Independent Director, conveying his resignation from the board with immediate effect for personal reasons. The Interim Resolution Professional will place the same for acceptance in the next meeting of the Committee of Creditors (CoC). Last year, the National Company Law Tribunal (NCLT) had admitted the application by an IDBI Bank-led consortium, seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code. The tribunal had appointed Anuj Jain as IRP to mange the ...
Alembic Pharma gets USFDA nod for depressive disorder drug
Alembic Pharmaceuticals Monday said it has received approval from the US health regulator to market Desenlafaxine extended-release tablets, used to treat major depressive disorder. The company has received approval from the US Food and Drug Administration (USFDA) to market its product which is a generic equivalent of Wyeth Pharma Inc's Pristiq tablets, Alembic Pharmaceuticals said in a regulatory filing. According to IQVIA, Desvenlafaxine extended-release tablets has a market size of around USD 13.3 million for twelve months ending December 2017. Alembic shares were trading at 0.25 per cent up at Rs 649.30 on the BSE.
Mother Dairy won't cut prices despite Patanjali's cheaper cow milk
Unfazed by the introduction of cheaper packaged cow milk by new entrant Patanjali group, market leader Mother Dairy Monday said the company will not reduce prices to match competition. Mother Dairy, which sells around 7 lakh litres of cow milk per day largely in Delhi-NCR market, also expressed confidence that its sales volume will not be affected with more players entering in this segment. Haridwar-based Patanjali Ayurved has launched cow milk at Rs 40 per litre as against Rs 42 charged by the Mother Dairy. "We welcome competition. Patanjali group's entry will lead to an increase in the overall size of the cow milk segment. It will also help farmers and the rural economy," Mother Dairy Fruit & Vegetable Pvt Ltd Director Saugata Mitra told PTI. Asked whether the company will cut rates, he said, "We will neither increase nor decrease our price of cow milk". Last week, Baba Ramdev's Patanjali Ayurved announced its entry into the cow milk segment by launching cow milk and milk-based .
Wheat prices edge up on demand from flour mills
Wheat prices inched up by Rs 5 per quintal at the wholesale grains market Monday due to increased offtake by flour mills. Barley also moved up on pick up in demand from consuming industries. Traders said besides increased offtake by flour mills, pause in arrivals from growing regions, helped wheat prices trade higher. In the national capital, wheat dara (for mills) edged up by Rs 5 to Rs 2,035-2,040 per quintal. Atta chakki delivery followed suit and traded higher by a similar margin to Rs 2,045-2,050 per 90 kg. Sooji also seen in demand and advanced by Rs 20 to Rs 1,240-1,250 per 50 kg. Other bold grain like, barley too went up by Rs 20 to Rs 1,630-1,640 per quintal. Following are today's quotations (in Rs per quintal): Wheat MP (desi) Rs 2,350-2,450, Wheat dara (for mills) Rs 2,035-2,040, Atta Chakki(delivery) Rs 2,045-2,050, Atta Rajdhani (10 kg) Rs 250-280, Shakti Bhog (10 kg) Rs 275-310, Roller flour mill Rs 1,080-1,100 (50 kg), Maida Rs 1,180-1,190 (50 kg) and Sooji Rs ...
NPA provisions for banks may stay elevated till FY20: Report
Banks are witnessing a spurt in asset quality stress in the non-corporate segment and the overall loan loss provisions for lenders are expected to stay elevated till fiscal year 2019-20, a report said. The outlook on private sector banks, along with SBI and Bank of Baroda among the state-run ones is stable, while all the other state-run banks carry a negative outlook, India Ratings said in its mid-year outlook on banks Monday. Banks will continue with credit costs or provisions of up to 3 per cent for both the ongoing fiscal as well as the one after, according to the rating agency. It attributed the higher credit costs to ageing of NPAs (non-performing assets) recognised earlier since the asset quality review of FY16, accelerated provisioning and slippages especially from non-corporate accounts. In what can be a worrying sign, the agency said it has observed a spurt in asset quality stress building up in the non-corporate loans, even as the same in the corporate segment .
Hong Kong Market falls on trade concerns, Typhoon double blow
As per reports, Trump was going ahead with plans to impose new tariffs on about $200 billion of Chinese imports. The tariff level will likely be set at about 10%, below the 25% announced earlier this year. At the same time, U.S. officials, led by Treasury Secretary Steven Mnuchin, are preparing to hold new talks on the tariff dispute with Beijing. Envoys met last month in Washington but reported no progress. The two governments have already imposed 25% tariffs on $50 billion of each other's goods. Beijing has issued a list of another $60 billion of American products for retaliation if Trump's next tariff hike goes ahead.
China Market drops as trade row worries mount
As per reports, Trump was going ahead with plans to impose new tariffs on about $200 billion of Chinese imports. The tariff level will likely be set at about 10%, below the 25% announced earlier this year. At the same time, U.S. officials, led by Treasury Secretary Steven Mnuchin, are preparing to hold new talks on the tariff dispute with Beijing. Envoys met last month in Washington but reported no progress. The two governments have already imposed 25% tariffs on $50 billion of each other's goods. Beijing has issued a list of another $60 billion of American products for retaliation if Trump's next tariff hike goes ahead.
Exclusive: Eurobank CEO expects to beat bad debt reduction target
ATHENS (Reuters) - Eurobank is confident of beating this year's sour loan reduction target agreed with European Central Bank supervisors and plans to make further progress by 2021, the chief executive of Greece's third largest lender said on Monday.