Page 2543 - Business Finance
Bharti Airtel picks banks for London flotation of Africa business - sources
LONDON (Reuters) - India's biggest mobile carrier Bharti Airtel Ltd has chosen UBS, JP Morgan and Citi to coordinate the London initial public offering of its Africa business, two sources familiar with the matter said.
India reiterates call for taking forward FTA talks with EU
India and the European Union (EU) should find new and innovative ways to move ahead with negotiations for a free trade agreement (FTA) they are engaged in, the Secretary (West) in the External Affairs Ministry, Ruchi Ghanashyam, has said.
Govt tenders worth Rs 15k cr cancelled over discriminatory conditions against domestic players
Government tenders worth over Rs 15,000 crore were cancelled due to highly discriminatory conditions against domestic companies, a top official said Friday. Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said the cancelled tenders were re-issued by making changes to promote 'Make in India' initiative of the government. He said a lot of government departments and PSUs are discriminating against Indian companies by having highly discriminatory tender conditions, and the issues are being actually addressed now. "We find that now we are getting more and more industry complaints and they point out how the tender conditions are completely crazy. Nobody can justify that. "We have got more than Rs 15,000 crore of tenders by various government departments cancelled and they are re-tendered because the conditions were completely unacceptable. I think, Indian industry needs at least level playing field," he said here at a function. The government issued ...
Investec to hive off asset management, shares jump
JOHANNESBURG/LONDON (Reuters) - South Africa's Investec plans to hive off and separately list its asset management unit in a restructuring that comes as the long-serving company founder leaves the financial services group.
Hyundai Motor Group promotes heir apparent Chung as succession looms
SEOUL (Reuters) - Hyundai Motor Group promoted heir apparent Euisun Chung on Friday to a role of overseeing the conglomerate, moving him a step closer to succeeding his octogenarian father as head of South Korea's second largest group.
Metro confident of interest as puts Real hypermarkets on block
BERLIN (Reuters) - German retailer Metro AG plans to sell its struggling Real chain and is confident of interest in the hypermarkets, which some analysts say could fetch around 1 billion euros ($1.2 billion).
Eon Electric gets revision in credit ratings
From CRISIL
Metro's Real hypermarket sale triggers talk of Amazon interest
BERLIN (Reuters) - German retailer Metro AG plans to sell its struggling Real hypermarket chain, which some analysts say could fetch around 1 billion euros ($1.2 billion) and attract interest from potential buyers including online giant Amazon.
India's fuel demand rose 0.8 pct y/y in August
NEW DELHI (Reuters) - India's fuel demand rose 0.8 percent in August compared with the same month last year.
Gold down Rs 200 on low demand
Gold fell by Rs 200 to Rs 31,400 per 10 gram at the bullion market Friday owing to weak demand from jewellers and retailers even as the metal strengthened overseas. Silver followed suit and fell by Rs 250 to Rs 37,650 per kg due to reduced offtake by industrial units and coin makers. Marketmen said muted demand from local jewellers and retailers at the domestic spot markets mainly kept pressure on the precious metal, but a firm trend overseas capped the fall. Globally, gold rose 0.61 per cent to USD 1,208.20 an ounce and silver 0.78 per cent to USD 14.25 an ounce in Singapore as softer-than-expected US consumer prices data dimmed the case for a faster pace of policy tightening by the Federal Reserve. In the national capital, gold of 99.9 and 99.5 per cent purity drifted lower by Rs 200 each to Rs 31,400 and Rs 31,250 per 10 gram, respectively. The precious metal had shed Rs 25 yesterday. Sovereign, however, remained flat at Rs 24,500 per piece of eight gram. Tracking gold, silver ...
AIF investments swell by 90% to Rs 75,000 cr till June quarter
The capital put in by alternative investment funds (AIFs) has risen to nearly Rs 75,000 crore at the end of April-June quarter of the current fiscal, a surge of 90 per cent from the year-ago period. AIFs are a class of pooled-in vehicles for investing in real estate, private equity and hedge funds and over 270 such funds are registered with the Securities and Exchange Board of India (Sebi) since 2012. The investment made by AIFs stood at Rs 74,893 crore during the three months ended June 2018, much higher than Rs 39,308 crore invested in the same quarter last year, according to latest data available with Sebi. At the end of March quarter, capital infused by AIFs was at Rs 61,400 crore. The category I AIFs poured in Rs 8,955 crore, category II Rs 41,710 crore and category III Rs 24,228 crore. The regulator, in May 2012, notified the guidelines for this class of market intermediaries. At the end of December 2012, they pumped in just Rs 20 lakh, which has now jumped to close to Rs 75,000
Petrol, diesel rates scale new highs
Petrol and diesel prices Friday scaled new highs as rates were increased on account of rupee depreciation and rise in international oil rates. While petrol price was increased by 28 paise a litre, diesel rates went up by 22 paise, according to a price notification of state-owned oil marketing companies. Petrol in Delhi now costs Rs 81.28 per litre and diesel is priced at Rs 73.30 a litre. In Mumbai, petrol is retailed at 88.67 per litre, for Rs 84.49 in Chennai and Rs 83.14 in Kolkata. Diesel costs Rs 77.82 per litre in Mumbai, Rs 77.49 per litre in Chennai and Rs 75.36 per litre in Kolkata, according to the notification. Delhi has the cheapest fuel rates among all metros and most state capitals because of lower taxes. Mumbai has the highest sales tax or value added tax (VAT). A combination of a dip in rupee value against the US dollar and rise in crude oil prices has led to a spike in pump prices since mid-August. Petrol price has since risen by Rs 4.20 per litre and diesel by Rs ...
Sensex reclaims 38,000 mark, Nifty up 120 points
The benchmark S&P BSE Sensex reclaimed the 38,000 mark on Friday afternoon, supported by a recovery in the rupee and positive global markets.
Bajaj Finserv offers customised loans to MSME and SMEs
Bajaj Finance Ltd, the lending arm of Bajaj Finserv, offers SME and MSME segment a customized Business Loans with simple eligibility criteria and minimal documentation. SMEs and MSMEs can borrow loan up to Rs. 30 lakh by submitting their registration certificate of the company and previous year income tax returns. The loan can be availed in 24hours once the application meets all the criteria.With the evolvement of GST as a framework, most of the data is expected to be structured and uniformly available across SME segment. This enhances ability of the segment to borrow funds for growth and expansion. Bajaj Finserv has also introduced secured enterprises for SME customers. This is essentially a lighter version of mortgage offering which is offered in smaller markets where structured information may not be readily available.This loan eligibility is solely based on the valuation of the property to be mortgaged and not basis the financial documents of the applicant.The Business Loan by ...
India needs to be vigilant over rupee - PM economic panel member
NEW DELHI (Reuters) - India needs to be extremely vigilant to check weakness in the rupee and the task was to minimise volatility and avoid contagion to other macro policies, a member of the prime minister's economic advisory panel said on Friday.
Castor seed futures fall 0.54 pc on weak spot cues
Castor seed prices softened by 0.54 per cent to Rs 4,610 per quintal in futures trade Friday after participants liquidated holdings in line with weak trend at the physical markets. Marketmen said taking negative lead from the spot markets due to ample stocks following persistent supplies against slackened demand from soap, paint and other consuming industries, led to the fall in castor seed futures prices. At the National Commodity and Derivatives Exchange, castor seed for this month declined by Rs 25, or 0.54 per cent, to Rs 4,610 per quintal, with an open interest of 1,400 lots. Castor seed for October advanced by Rs 6, or 0.13 per cent, to Rs 4,678 per quintal, in the business turnover of 1,46,670 open interest lots.
Bajaj Holdings & Investment Ltd rises for third consecutive session
The stock is quoting at Rs 3098.1, up 1.03% on the day as on 12:49 IST on the NSE. Bajaj Holdings & Investment Ltd is up 12.68% in last one year as compared to a 13.66% spurt in NIFTY and a 10.74% spurt in the Nifty Financial Services index.
Bajaj Finserv Ltd spurts 1.78%, rises for third straight session
The stock is quoting at Rs 6527.05, up 1.78% on the day as on 12:49 IST on the NSE. Bajaj Finserv Ltd is up 15.02% in last one year as compared to a 13.66% gain in NIFTY and a 10.74% gain in the Nifty Financial Services index.
NTPC Ltd rises for third straight session
The stock is quoting at Rs 172.2, up 1.29% on the day as on 12:49 IST on the NSE. NTPC Ltd is up 2.9% in last one year as compared to a 13.66% jump in NIFTY and a 18.07% jump in the Nifty Energy index.
Federal Bank Ltd spurts 1.7%, up for third straight session
The stock is quoting at Rs 77.55, up 1.7% on the day as on 12:49 IST on the NSE. Federal Bank Ltd is down 32.83% in last one year as compared to a 13.66% gain in NIFTY and a 8.88% gain in the Nifty Bank index.