Page 2574 - Business Finance
Samsung doubles down in India, opens its biggest store world-wide
MUMBAI (Reuters) - Samsung Electronics Co Ltd opened its biggest mobile store in the world in India on Tuesday as it tries to take pole position in the world's second-biggest smartphone market amid fierce competition from Chinese brands.
Deals in unlisted companies to be in demat form
As part of its drive against benami entities, the government on Tuesday said all deals in securities of unlisted public companies will have to be in dematerialised form from October 2.
Global Markets: World stocks hit by trade strain, Brexit talk supports sterling
LONDON (Reuters) - World stocks slipped back towards three-week lows on Tuesday, on ongoing concerns over the trade dispute between Washington and Beijing, while the pound hovered near a five-week high on hopes of a UK-EU deal over Brexit.
Paytm bets on local expertise to fend off rivals
SINGAPORE (Reuters) - India's top digital payments firm, Paytm, is betting on its local expertise and a deep pool of backers to fuel business growth and fight off global rivals in a rapidly growing market, its chief executive said on Tuesday.
Petrol, diesel prices hit fresh highs
Petrol and diesel prices hit fresh highs on Tuesday as rupee plunged to an all-time low, making imports costlier. A 14 paisa per litre hike in petrol and diesel prices each took the rates to an all-time high, according to price notification of state-owned fuel retailers. Petrol price in Delhi climbed to Rs 80.87 per litre, while in Mumbai it inched up to Rs 88.26. A litre of diesel in the national capital was priced at Rs 72.97 and Rs 77.47 in Mumbai. Delhi has the cheapest fuel among all metros and most state capitals because of lower taxes. Mumbai has the highest sales tax or VAT. Petrol in Chennai costs Rs 84.07 per litre and Rs 83.75 in Kolkata. Diesel is priced at Rs 77.15 per litre in Chennai and Rs 75.82 in Kolkata. According to oil companies, refinery gate price of petrol, without considering any central or state tax and dealers commission, is Rs 40.45 per litre. The same for diesel is Rs 44.28. Retail rates are high after adding excise duty, which is charged by the central ...
GPT Infraprojects announces resignation of nominee director
With effect from 10 September 2018
Outcome of board meeting of Ravindra Energy
Held on 11 September 2018
Larger number of bad loans originated in 2006-2008: RBI ex-chief
A larger number of bad loans or NPAs originated in 2006-2008 when Indian economic growth was strong as the banks made mistakes, former RBI Governor Raghuram Rajan has said.
India's public spending on agri R&D not far behind China: Niti member
India's public spending on agriculture research and development is not far behind neighbouring China, Niti Aayog member Ramesh Chand said Tuesday. He however expressed concern that private sector is investing in other places than in India's agriculture Research and Development (R&D) and this need to be changed. Chand said the food demand is set to rise with increase in population and the technology innovation will be a key driver to achieve the desired production. He was participating in a panel discussion on the report 'Fixing Asia's Food System' commissioned by Cargill India. "The report says that India's public spending is 0.40 per cent of farm GDP on agri R&D whereas Brazil spends much more. But public spending on agri R&D is still not that bad here. We are not far behind China," he said. Private investment in agri R&D is not much in India. However of late in China, private investment in farm research is on the rise. It is rising rapidly as compared to the public ..
Turnover on NSE's F&O segment jumps
Bajaj Finance, Reliance Industries and State Bank of India September 2018 futures at premium
Quick Wrap: Nifty FMCG Index declines 2.41,NIFTY Tumbles 1.32%
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Piyush Goyal launches 'Rail Sahyog'
Union Railway Minister Piyush Goyal on Tuesday launched a web portal 'Rail Sahyog', a platform for the corporates and PSUs (Public Sector Undertakings) to contribute to the creation of amenities at Railway stations through Corporate Social Responsibility (CSR) funds.The companies desirous of contributing can register their requests on the portal which will be processed by Railway officials. Based on the principle of first come first serve, the requests will be shortlisted and selected ones will be intimated to deposit the funds with Railways agencies like RITES, RAILTEL and so on. The nominated agency will get the work executed thereafter.The activities identified to be funded through CSR include the construction of toilets in circulating areas of all stations with the provision of low-cost sanitary pad vending machine. The incinerator will be added in female toilets and a condom vending machine in male toilets.Providing free wifi at stations by setting up hotspots is another activity
Sensex plunges 500 points; Nifty loses 150 points
The key Indian equity indices continued their steep fall for the second consecutive session on Tuesday with the benchmark Sensex losing 509 points and the Nifty50 down 150 points.
Sebi calls for bigger, cleaner & safer markets
Market regulator Sebi Tuesday called for bigger, cleaner and safer markets and enhancing the overall governance standards in the market for issuers, intermediaries or market infrastructure providers. It also said that call on the recommendations by fair market conduct committee to further strengthen the rules to deter financial crimes like frauds, market manipulations and insider trading, will be taken soon. "We are also equally committed to ensure clean and safe markets. We are duty bound to ensure that the market mechanism is not misused or manipulated by the unscrupulous elements," Securities and Exchange Board of India (Sebi) chairman Ajay Tyagi said at the 'Ficci CAPAM 2018' conference. "The fair market conduct committee constituted by Sebi has since submitted its recommendations, which were also put in public domain seeking comments. A view on these recommendations will be taken soon," he added. He said that the the manipulators will not be allowed to take ...
Talent lies in India, says Staffing Federation chief
Technology has opened a vista of opportunities for jobs in India and there is great demand for talents for emerging technologies, Indian Staffing Federation President Rituparna Chakraborty said Tuesday. India was emerging as a hub for global who's who in all technology sectors because a realisation was dawning upon tech companies that talent lies in the country, she told reporters on the sidelines of the fourth IT conference on the theme "Thriving in smart transformation." "There is a realisation among global companies that no matter whatever is the political climate governing each of these countries, the talent finally lies in India. Whether you hire them or not, talent lies in India," said Chakraborty, co-founder and executive vice-president of TeamLease Services Limited. She insisted technology has transcended beyond industry and has converted into the basic operating system of every industry today. The conference brought together HR leaders and tech stalwarts to ...
China hotpot firm Haidilao tests investor appetite with $1 billion HK IPO
HONG KONG (Reuters) - Haidilao International Holding, one of China's most popular hotpot chains, is seeking to raise up to $963 million in its Hong Kong initial public offering to fund its international expansion into markets including the UK and Canada.
Gold slips, pressured by strong dollar outlook
LONDON (Reuters) - Gold dipped on Tuesday even though the dollar remained flat against a basket of currencies, with investors concerned the greenback could resume its rally amid looming interest rate increases and escalating Sino-U.S. trade tensions.
From Oct 2, unlisted cos to issue new shares in demat form: Govt
Unlisted public companies have to compulsorily issue new shares in demat form beginning October 2, the government said Tuesday, amid continuing efforts to curb illicit fund flows. Besides, transfer of shares by these companies has to be done only in the demat or electronic form. This step has been taken for "further enhancing transparency, investor protection and governance in the corporate sector," the Corporate Affairs Ministry said in a release. The decision also comes at a time when the ministry is clamping down on shell companies that are suspected of being conduits for illicit fund flows. From October 2, issue of further shares and transfer of all shares by unlisted public companies shall be in dematerialised form only, the ministry said. Under the Companies Act, 2013, there are public as well as private companies. Generally, those having more than 200 members are classified as public companies and they have to follow stricter corporate governance norms. Generally, shareholders .
Kalpataru board approves proposal to raise Rs 100 cr via NCDs
Kalpataru Power Transmission Ltd (KPTL) said Tuesday its board has approved a proposal to raise Rs 100 crore through issuance of Non-Convertible Debentures (NCDs). "The Executive Committee of Board of Directors has approved issuance of Zero Coupon Listed Rated Unsecured Redeemable Taxable NCDs of Rs 100 crore on private placement basis," a BSE filing said. As many as 1,000 NCDs of Rs 10 lakh each would be issued, it said. These will be listed at Wholesale Debt Market Segment of BSE. The deemed date of allotment would be September 12, 2018.
Nifty, Sensex end near six-week closing low
(Reuters) - Indian shares fell more than 1 percent for a second straight session on Tuesday, as markets globally braced for a potential escalation in the Sino-U.S. trade dispute, while the rupee continued its downward spiral touching a fresh life-low.