Page 2546 - Business Finance
Nickel futures rise 0.62% as demand picks up
Nickel prices advanced by 0.62 per cent to Rs 906.70 per kg in futures market Friday after participants created fresh positions, in line with a firming at the spot markets on rising demand from alloy-makers. At the Multi Commodity Exchange, nickel for delivery in September went up by Rs 5.60, or 0.62 per cent, to Rs 906.70 per kg in a business turnover of 583 lots. Similarly, the metal for delivery in October contracts gained Rs 5.50, or 0.61 per cent, to Rs 912 per kg in seven lots. Analysts said widening of positions by traders on the back of soaring demand from alloy-makers in the spot markets, led to rise in nickel prices in futures trade.
Muted demand drags refined soya oil futures
Refined soya oil prices drifted lower by 0.49 per cent to Rs 734 per 10 kg in futures trade on Friday as speculators cut down bets, taking negative lead from spot market on subdued demand. Besides, adequate stocks position on increased supplies from growing regions, too weighed on prices. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October fell Rs 3.65, or 0.49 per cent to Rs 734 per 10 kg with an open interest of 51,850 lots. Similarly, the oil for delivery in September contracts shed Rs 1.55, or 0.21 per cent to Rs 735.35 per 10 kg in 17,690 lots. Analysts said cutting down of positions by participants owing to slackened demand in the physical markets against sufficient stocks position, led to decline in refined soya oil prices at futures trade.
Walmart's purchase of Mexico food delivery app set to spur e-commerce
MEXICO CITY (Reuters) - Walmart Inc will acquire Latin American food delivery service Cornershop for $225 million, it said on Thursday, in a move to ramp up its online grocery business in Mexico and Chile.
Carige's top investors told to seek regulatory clearance on stake
MILAN (Reuters) - Three leading investors in Italy's Carige must seek regulatory clearance for their combined 15.2 percent stake after agreeing to jointly vote for a new board or else their voting rights will be capped at 10 percent, the bank said on Friday.
Xiaomi creates new management jobs aimed at CEO succession planning
BEIJING (Reuters) - Chinese smartphone maker Xiaomi Inc said on Friday it will rejig its businesses and create new leadership positions aimed at building a second tier to CEO Lei Jun, amid increased scrutiny of governance and successions at Chinese tech firms.
Zinc futures climb 1.01% on rising demand
Zinc prices surged by 1.01 per cent to Rs 170.15 per kg in futures market Friday after speculators raised bets, driven by rising demand at the spot market. At the Multi Commodity Exchange, zinc for delivery in September rose by Rs 1.70, or 1.01 per cent, to Rs 170.15 per kg in business turnover of 1,299 lots. Likewise, the metal for delivery in October contracts was trading higher by Rs 1.50, or 0.88 per cent, to Rs 171 per kg in 33 lots. Analysts said expanding of positions by participants on the back of soaring demand from consuming industries in the spot market, attributed the rise in zinc prices in futures trade.
Smartwatches to rule nearly half of wearables by 2022: IDC
If you are still skeptical about owning a smartwatch, it may just be the time to do so. According to the latest estimates by market researcher IDC, smartwatches are set to dominate nearly half of the entire wearables market by 2022.Smartwatches will account for a total of 46.2 million units in 2018, up by 38.9 percent from last year. However, by 2022, the volumes will grow at a CAGR of 19.5 percent to hit 94.3 million units milestone, accounting for nearly half of the entire wearables market.Apple Watch is expected to continue to dominate with the newest model appealing to cardiac patients following the approval from the FDA and AHA.The latest report also indicates that wristbands will continue to play a significant role in the wearables market with devices going beyond step counting having an advantage against the pricier smartwatches.Lastly, earwear is set to be the fastest growing wearable device. The devices which offer features in addition to audio will be seeing more growth. It .
Market holds firm at higher levels
Key indices held firm near day's high in mid-morning trade. At 11:15 IST, the barometer index, the S&P BSE Sensex, was up 239.28 points or 0.63% at 37,957.24. The Nifty 50 index was up 91.95 points or 0.81% at 11,461.85. Positive leads from Asian markets and overnight gains on the Wall Street boosted investors sentiment.
Hyundai Motor Group names heir apparent as chief vice chairman
SEOUL (Reuters) - Hyundai Motor Group appointed heir apparent Euisun Chung as chief vice chairman on Friday, moving him a step closer to succeeding his father as head of South Korea's second largest conglomerate.
Aluminium futures gain 0.28% on high demand
Aluminium prices traded higher by 0.28 per cent to Rs 145.85 per kg in futures trade Friday as speculators raised bets, taking positive cues from spot market on rising demand. At the Multi Commodity Exchange, aluminium for delivery in September edged up by 40 paise, or 0.28 per cent, to Rs 145.85 per kg in business turnover of 219 lots. Likewise, the metal for delivery in October inched up by 40 paise, or 0.27 per cent, to Rs 147.15 per kg in 5 lots. Analysts said widening of positions by participants following pick up in demand from consuming industries in the physical market attributed to the rise in aluminium prices in futures trade.
Rise in demand lifts lead futures by 0.44 pc
Lead prices rose 0.44 per cent to Rs 146.75 per kg in futures trading on Friday as speculators increased positions, tracking a firm trend at spot market on strong demand. At the Multi Commodity Exchange, lead for delivery in September traded higher by 65 paise, or 0.44 per cent, to Rs 146.75 per kg in a business turnover of 252 lots. Similarly, the metal for delivery in October inched higher by 60 paise, or 0.41 per cent, to Rs 147.85 per kg in 1 lot. Analysts said widening of positions by participants on the back of surging demand from battery-makers in the physical market led to the rise in lead prices in futures trade.
Volkswagen is killing the iconic Beetle
Volkswagen has announced that it is officially killing off the Beetle in 2019 after producing the last ever models to carry the iconic name.The company will be rolling out the Final Edition SE and Final Edition SEL before putting the Beetle legacy to rest.The original Beetle was dubbed the 'People's Car' and was designed by Adolf Hitler and Ferdinand Porsche to be a cheap and simple vehicle. The original model continued to be in production through 2003, whereas the New Beetle debuted in 1998, with a design inspired from the original model.It was in 2011 that Volkswagen kept the moniker simple at just 'Beetle'. In a company statement, Volkswagen America President and CEO, Hinrich J. Woebcken said that the loss of the Beetle after over nearly seven decades will evoke a host of emotions from the fans.
India-Russia trade at a mere 10% of potential (Comment)
India and Russia have been strong trading partners but the total trade between them in the five years till 2015-16 remained stagnant at $6 billion. In 2016-17, the trade stood at $7.5 billion -- an increase of 22 per cent over the previous year.
Rashtriya Chemicals stock jumps over 17% on cabinet nod to land transfer
Shares of Rashtriya Chemicals and Fertilizers (RCF) Friday jumped more than 17 per cent in morning trade on bourses after the cabinet gave nod to transfer the state-run firm's land to Mumbai Metropolitan Regional Development Authority (MMRDA). The cabinet Wednesday gave ex-post facto approval for transfer of land of RCF to MMRDA. Following the development, shares of the RCF Friday opened on a bullish note at Rs 78.55, then touched a high of Rs 79.85, up 17.85 per cent over its previous closing price. Similar movement was seen on NSE as well, where the stock opened at Rs 79.25 then touched a high of Rs 79.60, up 17.23 per cent over its last close. MMRDA had acquired 48,849.74 square metre land of RCF and completed the construction of the Eastern Free Way-AnikPanjrapol Link Road (APLR), opened for public use in 2014. In a statement, the government said the cabinet has given ex-post facto approval for transfer of RCF's land to MMRDA and also a proposal for approval for transfer of the ...
Gold goes up Rs 104 on positive global cues
Gold prices went rose by Rs 104 to Rs 30,554 per 10 gram in futures trade Friday after speculators raised bets, driven by a firming global trend. At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 104, or 0.34 per cent, to Rs 30,554 per 10 gram in a business turnover of 133 lots. Analysts attributed the rise in gold prices in futures trade here to raising of bets by investors tracking a firming trend overseas as softer-than-expected US consumer prices data dimmed the case for a faster pace of policy tightening by the Federal Reserve. Meanwhile, gold was trading 0.27 per cent higher at USD 1,204.20 an ounce in Singapore today.
Silver futures climb Rs 143 on firm global cues
Silver rallied by Rs 143 to Rs 37,204 per kg in futures trade on Friday as participants raised their bets, tracking a firming trend overseas. At the Multi Commodity Exchange, silver for delivery in December surged Rs 143, or 0.39 per cent, to Rs 37,204 per kg in a business turnover of 336 lots. Market analysts said participants built up positions amid a firm global trend as as softer-than-expected US consumer prices data dimmed the case for a faster pace of policy tightening by the Federal Reserve, influenced precious metals prices at futures trade here. Meanwhile, silver surged 0.46 per cent to USD 14.21 an ounce in Singapore.
NBCC stock jumps 5 pc on buyout of govt-owned consultancy firm HSCC
Shares of NBCC Friday surged more that 5 per cent in morning trade on the bourses after the company said it will buy out 100 per cent government stake in consultancy firm HSCC for Rs 285 crore. "DIPAM intimated vide letter dated September 13, 2018, that NBCC has been selected as the buyer for 100 per cent strategic disinvestment of HSCC at a bid amount of Rs 285 crore," NBCC had said in a regulatory filing Thursday. Shares of the company opened on a strong note at Rs 69, then gained 5.45 per cent over its previous closing price to touch an intraday high of Rs 70.50 on BSE. On NSE, the stock opened at Rs 67.95, then gained further ground and touched a high of Rs 70.40, up 5.31 per cent over its previous closing price. The government last October invited bids from similarly placed central public sector enterprises (CPSEs) for buying out entire 100 per cent stake in HSCC, along with management control. Thereafter, in June 2018, NBCC had submitted financial bid for buying HSCC. Hospital ..
Volumes spurt at Indian Energy Exchange Ltd counter
Indian Energy Exchange Ltd notched up volume of 1.31 lakh shares by 10:48 IST on BSE, a 63.85 fold spurt over two-week average daily volume of 2047 shares
ChargePoint to grow global EV charging network to 2.5 million
FRANKFURT (Reuters) - ChargePoint, operator of one of the world's largest charging station networks for electric vehicles (EV), is targeting a near fifty-fold increase in its global network of loading spots by the middle of next decade, it said on Friday.
Metal shares in demand
Key benchmarks firmed up in morning trade. At 10:20 IST, the barometer index, the S&P BSE Sensex, was up 217.25 points or 0.58% at 37,935.21. The Nifty 50 index was up 85.90 points or 0.76% at 11,455.80. Positive leads from Asian markets and overnight gains on the Wall Street boosted investors sentiment.