Page 2579 - Business Finance
FMCG shares decline
The Sensex and the Nifty were almost flat in mid-morning trade. At 11:17 IST, the barometer index, the S&P BSE Sensex, was down 36.49 points or 0.10% at 37,885.68. The Nifty 50 index was down 6.55 points or 0.06% at 11,431.55. Investors sentiment was fragile due to negative global cues amid lingering global trade war concerns.
NMDC revises prices of Iron Ore
With effect from 07 September 2018
Muted demand drags down nickel futures by 0.29%
Nickel prices eased by 0.29 per cent in futures market on Tuesday as traders cut down their bets, driven by subdued demand from consuming industries in the spot markets. At the Multi Commodity Exchange, nickel for delivery in the current month drifted lower by Rs 2.60, or 0.29 per cent, to Rs 898.20 per kg in business turnover of 479 lots. Analysts said the fall in nickel prices in futures trade is mostly attributed to tepid demand from alloy-makers at the domestic spot markets.
Renesas in $6.7 bln deal for IDT to boost chips for self-driving cars
TOKYO (Reuters) - Japan's Renesas Electronics Corp said it had agreed to buy Integrated Device Technology Inc (IDT) for $6.7 billion, its second major acquisition as it deepens its push into semiconductors for self-driving cars.
Turmeric rises on uptick in demand
Turmeric prices were up 0.77 per cent to Rs 6,730 per quintal in futures trading Tuesday as participants indulged in widening their portfolios, driven by uptick in domestic and export demand. Besides, restricted supplies from growing regions also supported the upward movement of turmeric prices. At the National Commodity and Derivatives Exchange, turmeric for delivery in October was trading higher by Rs 52, or 0.77 per cent, to Rs 6,730 per quintal with an open interest of 11,635 lots. The spice for delivery in the current month was also trading higher by Rs 48, or 0.73 per cent, at Rs 6,574 per quintal, in an open interest of 1,795 lots. Analysts said raising of positions by participants following upsurge in domestic as well as export demand at the spot market against restricted supplies from producing regions, mainly pushed up turmeric prices in futures trade.
Crude oil futures fall 0.39% on profit-booking
Crude oil futures fell 0.39 per cent to Rs 4,897 per barrel Tuesday as participants locked-in gains at current levels even as it strengthened in Asian trade. Crude oil for delivery in the current month was trading lower by Rs 19, or 0.39 per cent, at Rs 4,897 per barrel, with a business volume of 795 lots at the Multi Commodity Exchange (MCX). Also, oil prices for October delivery were down by Rs 16, or 0.32 per cent, lower at Rs 4,910 per barrel, with a business volume of 29 lots. Analysts said the fall in crude oil futures is mostly due to profit-booking at existing levels by participants but a firm trend overseas, supported by looming US sanctions against Iran's petroleum industry, capped the losses. Globally, West Texas Intermediate rose 5 cents, or 0.07 per cent, to USD 67.59 while Brent was trading up by 14 cents, or 0.18 per cent, to USD 77.51 a barrel on the New York Mercantile Exchange.
Silver futures fall 0.50% on weak global cues
Silver prices fall Rs 192 to Rs 38,097 per kg in futures trade Tuesday as speculators cut holdings amid a weakening trend overseas. Silver for delivery in far-month March next year was trading sharply lower by Rs 192, or 0.50 per cent, at Rs 38,097 per kg in a business turnover of four lots at the Multi Commodity Exchange (MCX). The white metal for delivery in December fell Rs 150, or 0.40 per cent, at Rs 37,344 per kg with a business turnover of 177 lots. In the international market, silver traded 0.18 per cent lower at USD 14.14 an ounce in Singapore Tuesday. Market analysts said a weak trend in precious metals in global market and a stronger US dollar curbed demand for the precious metals, considered as safe haven investment.
Volumes jump at Somany Ceramics Ltd counter
Somany Ceramics Ltd witnessed volume of 1.88 lakh shares by 10:47 IST on BSE, a 64.26 times surge over two-week average daily volume of 2922 shares
BPCL to skip Iran oil purchases in October: source
NEW DELHI (Reuters) - India's state-run Bharat Petroleum Corp will skip purchase of Iranian oil in October due to turnaround at its plants, a source privy to the plan said on Tuesday.
Japanese firms dealing with Russia feel little impact from U.S. sanctions - Sumitomo
VLADIVOSTOK, Russia (Reuters) - Japanese firms dealing with Russia were experiencing little impact from U.S. sanctions on Moscow, but it was possible that they may also be sanctioned by the United States, the managing executive officer of Sumitomo Corporation said on Tuesday.
Andhra govt joins hands with US firm, announces USD 1 mn global challenge for start-ups
The Andhra Pradesh government in association with a US-based innovation platform for enterprises, founded by an Indian IT veteran, has announced a USD 1 million global challenge for startups to showcase their products and solutions in the fields of agriculture, emerging technology and Fintech. As part of the challenge, roadshows are planned in Chicago, New York, San Francisco, Tel Aviv, Paris, London, Hong Kong and Bangalore. The first roadshow was held in Chicago on Friday, a press release said on Monday. The challenge, organised by Fintech Valley Vizag in collaboration with Bizofit, will culminate in Vizag with presentations by 25 selected finalists on October 25. Fintech Valley Vizag is an initiative of the Andhra Pradesh government to promote business infrastructure and attract investors and multinational corporations to set up offices in the state. Bizofit, founded by Indian IT veteran Bala Palamadai, is a crowdsourced innovation platform connecting enterprises with tech ...
Marriott Hotels, TED deliver inspiring women in innovation salon
Marriott International's flagship brand Marriott Hotels, continues to spark creative ideas and meaningful conversations worldwide, hosting its second TED Fellows salon in Asia Pacific at the Bengaluru Marriott Hotel Whitefield in India.The event was attended by an engaged crowd of over 200 movers and shakers including innovative entrepreneurs, Marriott Rewards loyalty members, international media and influencers as well as top business school students. Bengaluru Marriott Hotel Whitefield was chosen as the destination to host this year's Marriott TED Fellows Salon because of the city's reputation as India's hub of technology and innovation.At the event, three TED fellows shared personal and professional stories around the theme of "Women in Innovation'. The speakers included women's health advocate Zubaida Bai from India, a passionate activist for improving global maternal health. She is the creator of the simple but revolutionary 'clean birth kit' to provide safer childbirths for ...
CSS Corp Ranked 7th by HFS Research
CSS Corp, a new-age IT services and technology support company, has announced that it has been named amongst the Global Top 10 Cognitive Assistant Service Providers by HFS Research in its latest Cognitive Assistant Service Providers Report for 2018.The report has been compiled based on interviews with 300 enterprise clients of IT services from the Global 2000 on the innovation and execution performance of service providers.CSS Corp has been featured for strategically blending domain centric customer service capabilities with their technology prowess in customer engagements. HFS Research has recognized CSS Corp's cognitive assistant platform Yodaa for its modular ability to be integrated easily with contact center channels and with voice platforms like Amazon Echo.Yodaa provides an omni-channel customer experience and offers context-driven, real-time support with a human-like interaction to resolve customers' needs. The platform also impacts business results outside of cost savings, ...
Manali Petro gains on plan to launch Notedome products in India
Manali Petrochemicals rose 2.94% to Rs 38.50 at 10:52 IST on BSE after the company said it will launch products of its UK arm, Notedome, in India.
Gold futures slip on weak global cues
Gold prices fell by Rs 151 to Rs 30,564 per 10 grams in futures trade Tuesday as traders cut down bets at current levels amid a weak global trend. At the Multi Commodity Exchange, gold prices for delivery in October were trading lower by Rs 151, or 0.49 per cent, to Rs 30,564 per 10 grams in a business turnover of 188 lots. Also, the metal for delivery in December eased by a similar margin to quote at Rs 30,800 per 10 grams in six lots. Analysts attributed the fall in prices to trimming of bets by participants, tracking a weak trend overseas where gold inched lower as the dollar firmed on worries over a potential new trade action from the US against China and expectations of a US interest rate increase this month by the Federal Reserve. Meanwhile, gold was trading 0.17 per cent down at USD 1,193.40 an ounce in Singapore on Tuesday.
GAIL India says aims to add 5,500 km gas pipeline in 3 years
NEW DELHI (Reuters) - Indian gas firm GAIL (INDIA) Ltd aims to add 5,500 km gas pipelines to boost its capacity by about 50 percent in the next 3 years, its chairman said on Tuesday.
Japan Nikkei extends gain on yen softer tone, offshore lead
Shares of export-related companies gained as yen slipped against the dollar for the third day. Canon Inc, Panasonic, Mitsubishi Electric, Sony Corp, Toyota Motor, and Tokyo Electron rose in a range of 0.5% to 2%.
Australia Market gains 0.6%
Investors were bracing for the next step in the U.S.-China trade dispute after the Trump administration signaled it's ready to impose tariffs on even more goods imported into the U.S. On last Friday, US President Donald Trump said he was ready to levy additional taxes on practically all Chinese imports, threatening duties on $267 billion of goods over and above planned tariffs on $200 billion of Chinese products. China said it will respond if Washington takes any new steps on trade.
Confidence Petroleum India hikes stake in Blue Flame industries
Blue Flame industries has a cylinder manufacturing plant at Jharkhand with a installed capacity of 6 lakh LPG cylinders per annum mainly for supply to PSU Oil companies.
ICICI Bank update on proposed power exchange
This proposed institutional exchange, subject to necessary regulatory approvals, would leverage on the experience and expertise of its stakeholders in their fields; knowledge of the power sector, funding of power projects and associated infrastructure, setting-up and running various exchanges and platforms in India, and offer the market participants a credible power trading platform.