Page 2576 - Business Finance
Kalpataru Power Transmission to raise Rs 100 crore
By way of private placement of NCDs
Power Finance Corporation Ltd leads losers in 'A' group
Max Financial Services Ltd, Cholamandalam Investment & Finance Company Ltd, Swan Energy Ltd and Mahindra CIE Automotive Ltd are among the other losers in the BSE's 'A' group today, 11 September 2018.
Global Markets: Brexit cheer provides relief as world stocks hit by trade strain
LONDON (Reuters) - Hopes of a UK-EU deal over Brexit kept the British pound near five-week highs on Tuesday, helping lighten the mood in Europe even though the ongoing trade dispute between Washington and Beijing kept world stocks trading just off three-week lows.
GTN Industries Ltd leads losers in 'B' group
Usha Martin Ltd, Khaitan (India) Ltd, L T Foods Ltd and Vivanta Industries Ltd are among the other losers in the BSE's 'B' group today, 11 September 2018.
European share bounce stalls in trade dispute void
MILAN (Reuters) - A recovery in European shares stalled on Tuesday as uncertainty over a trade dispute between Washington and Beijing kept investors on edge.
Djibouti nationalises key port terminal after row with Dubai
Djibouti has ordered the nationalisation of the Doraleh Container Terminal, a vital port facility, after a long spat with leading global operator Dubai Ports World. The terminal is an essential facility for supplies to neighbouring landlocked Ethiopia. The Djibouti government had a two-thirds stake in the venture but claimed that the terminal had come under the de facto control of DP World. "The Republic of Djibouti following a presidential decree dated September 9, has decided to nationalise with immediate effect the shares," a statement said Monday. It said the government would name a new set of company officials. The terminal was run by DP World since 2006. But in late February Djibouti cancelled the contract saying its national sovereignty was being compromised. Dubai says the move is illegal and has lodged a case at the London Court of International Arbitration. It also says an injunction issued by a British court means that Djibouti cannot name new directors without the ...
Wheat rises on increased offtake by flour mills
Wheat prices rose by Rs 15 per quintal at the wholesale grains market on Tuesday due to increased offtake by flour mill amid pause in arrivals from producing belts. However, other grains moved in a narrow range in limited deals and settled at previous levels. Traders said besides increased offtake by flour mills, fall in supplies from growing regions, mainly attributed the rise in wheat prices. In the national capital, wheat MP (desi) and wheat dara for mills) rose by Rs 15 each to Rs 2,335-2,435 and Rs 2,015-2,020 per quintal, respectively. Atta chakki delivery followed suit and traded higher by a similar margin to Rs 2,025-2,030 per 90 kg. Following are today's quotations (in Rs per quintal): Wheat MP (desi) Rs 2,335-2,435, Wheat dara (for mills) Rs 2,015-2,020, Atta Chakki(delivery) Rs 2,025-2,030, Atta Rajdhani (10 kg) Rs 250-280, Shakti Bhog (10 kg) Rs 275-310, Roller flour mill Rs 1,070-1,090 (50 kg), Maida Rs 1,170-1,180 (50 kg) and Sooji Rs 1,220-1,230 (50 kg). Basmati rice ..
Mustard oil strengthens on rising demand, tight supply
Mustard oil prices strengthened by Rs 100 per quintal in an otherwise steady wholesale oils and oilseeds market Tuesday on the back of surging local demand against restricted arrivals from growing regions. Castor oil in the non-edible section, also advanced on pick up in demand from consuming industries. Traders attributed to rise in mustard oil prices to upsurge in local demand against restricted supplies from growing regions. In the national capital, mustard expeller (Dadri) oil gained Rs 100 to Rs 8,400 per quintal. Mustard pakki and kachi ghani oils also traded higher by Rs 10 each to Rs 1,305-1,350 and Rs 1,355-1,455 per tin, respectively. In the non-edible section, castor oil traded higher by Rs 100 to Rs 7,600-7,700 per quintal. Following are today's quotations (in Rs per quintal): Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900, Vanaspati Ghee (15-litre tin) Rs 1,160--1,360. Edible oils: Groundnut mill delivery (Gujarat) Rs 9,000, Groundnut Solvent ...
Volumes jump at Dredging Corporation of India Ltd counter
Dredging Corporation of India Ltd witnessed volume of 20.55 lakh shares by 14:14 IST on NSE, a 13.38 times surge over two-week average daily volume of 1.54 lakh shares
German investor morale brightens unexpectedly in September
BERLIN (Reuters) - The mood among German investors brightened unexpectedly for the second month in a row in September, a survey showed on Tuesday, as concerns about an escalating tit-for-tat trade dispute faded into the background.
FirstBuild inks pact with T-Works to set up centre
FirstBuild, a global co-creating community backed by GE Appliances Tuesday signed an agreement with T-Works, an incubator for startups in hardware and electronics to establish its centre here. FirstBuild is an online and physical community dedicated to designing, engineering, building, and selling the next generation of major home appliances. T-Works is an initiative of the Telangana government for startups in hardware and electronics. According to a press release, this agreement is in continuation to the MoU it signed in December last year where both sides created a task force to work out the details. The partnership begins with the signing of a MOU in the presence of KT Rama Rao, Telangana Minister for Information Technology and Chief Operating Officer for GE Appliances, Melanie Cook. The pact is aimed at bringing smart products and appliances to market faster through open product innovation that engages India's growing maker community. FirstBuild has already engaged ...
GAIL to expand gas pipeline network capacity by 50% in 3 yrs
GAIL India Tuesday said it will expand its pipeline network capacity by about 50 per cent by constructing 5,500-kilometers of new lines in the next three years. The state-owned company is also looking at setting up 400 CNG stations and giving out a record 10 lakh piped natural gas (PNG) connections to household kitchens, its Chairman and Managing Director B C Tripathi said. GAIL operates 11,000-km of pipeline network and markets two-thirds of all natural gas sold in the country. It is rapidly building infrastructure to support the government push towards a gas-based economy by raising the share of natural gas in the energy basket to 15 per cent from current 6.2 per cent, in next few years. GAIL plans to "add 5,500-km gas pipelines to the existing network and leapfrog to capacity augmentation by about 50 per cent on the current base in the next three years in phases," he told shareholders at the company's 34th Annual General Meeting (AGM). The company is building a 2,655-km gas ...
Market hits fresh intraday low
The market hit fresh intraday low in mid-afternoon trade as selling pressure intensified. At 13:22 IST, the barometer index, the S&P BSE Sensex, was down 309.39 points or 0.82% at 37,612.78. The Nifty 50 index was down 94.70 points or 0.83% at 11,343.40. Investors sentiment was fragile due to negative Asian cues amid lingering global trade war concerns.
Slack demand pulls down gold prices
Gold fell Tuesday by Rs 100 to Rs 31,450 per 10 gram on sluggish demand from jewellers even as the metal firmed up overseas. Silver held steady at Rs 37,950 per kg on scattered demand from industrial units and coin makers. According to traders, easing demand from jewellers and retailers mainly led to the slide in gold prices in the domestic spot market but a firm trend overseas, capped the fall. Globally, gold edged up 0.07 per cent to USD 1,196.20 an ounce and silver by 0.28 per cent to USD 14.20 an ounce in Singapore. In the national capital, gold of 99.9 per cent and 99.5 per cent purity shed Rs 100 each to Rs 31,450 and Rs 31,300 per 10 gram, respectively. It had climbed Rs 200 in yesterday's trade. Sovereign however remained unchanged at Rs 24,500 per piece of eight gram in limited deals. On the other hand, silver ready ruled flat at Rs 37,950 per kg on some support while weekly-based delivery rose by Rs 80 to Rs 37,405 per kg. Silver coins however held steady at Rs 72,000 for
Germany may meet EU debt ceiling goal this or next year - Scholz
BERLIN (Reuters) - Germany could meet the European Union's Maastricht debt ceiling target, under which public debt amounts to no more than 60 percent of national output, this year or next, Finance Minister Olaf Scholz said on Tuesday.
Alibaba, Russian tech firm Mail.ru announce partnership: Statement
Chinese e-commerce giant Alibaba and Russian technology group Mail.ru on Tuesday announced an agreement to launch a joint venture in Russia and former Soviet countries. The two groups, along with the Russian sovereign wealth fund and telecom operator MegaFon, announced the creation of "a new strategic partnership to integrate Russia's key consumer internet and e-commerce platforms and launch a leading social commerce joint venture in Russia and the CIS.
Dubai to host India-UAE Partnership Summit
Abu Dhabi, Sep 11 (IANS/WAM) A two-day India-UAE Partnership Summit (IUPS) will be held in Dubai from October 30.
Alibaba's JV in Russia to use Russia's payment system - RDIF
VLADIVOSTOK (Reuters) - A new joint venture between Chinese e-commerce firm Alibaba and Russian firms will use Russia's payment system, Kirill Dmitriev, the head of the Russian Direct Investment Fund (RDIF) said on Tuesday.
China markets regulator says trade war does not benefit U.S. or China
BEIJING (Reuters) - The head of China's market regulator said on Tuesday a trade war does not benefit China or the United States and tensions can only be resolved through dialogue and negotiation.
PV sales decline 2.46% in Aug, car sales down 1%
Domestic passenger vehicle sales declined for the second month in succession with 2.46 per cent drop in August due to high base effect and partial impact of floods in Kerala, automobile industry body SIAM said Tuesday. According to data released by Society of Indian Automobile Manufacturers (SIAM), domestic passenger vehicle (PV) sales stood at to 2,87,186 units last month as against 2,94,416 units in August last year. Car sales declined 1.03 per cent to 1,96,847 units last month as against 1,98,892 units in August last year. PV sales in July had declined by 2.71 per cent to 2,90,960 units from 2,99,066 units in the same month previous year. Car sales had also declined marginally to 1,91,979 units in July compared to 1,92,845 in the year-ago month. "There is an impact of high base effect, as sales last year from July to September were high after GST implementation," SIAM Director General Vishnu Mathur said here. Besides, there is also some impact of floods, specially in Kerala which ..