Page 2590 - Business Finance
Amin Tannery Ltd leads gainers in 'B' group
Lyka Labs Ltd, Bal Pharma Ltd, Sree Rayalaseema Hi-Strength Hypo Ltd and Sastasundar Ventures Ltd are among the other gainers in the BSE's 'B' group today, 10 September 2018.
Petroleum prices rising due to global factors: ASSOCHAM
The major factor for rising prices of petrol and diesel is the global macro situation, said industry body ASSOCHAM but expressed hope the tax burden would be brought down to some extent. "It has been our stand that petrol and diesel should be brought under the Goods and Services Tax (GST). However, it may not be feasible at this point of time", ASSOCHAM secretary general, Uday Kumar Varma, told PTI. The major factor, at this point of time, for rising prices of petrol and diesel is the global macro situation, impacting the entire pack of Emerging Markets, with India being no exception, he said. The US dollar, Varma said, has been appreciating against most currencies of the world, so the weakening of rupee against the dollar has to be seen in that context. With India being a large importer of crude oil, the currency depreciation does have an impact on the landed prices, he said. Besides, the crude, in any case, has been rising amidst a firm global sentiment. "We, in the ...
Cardamom futures rise 2.10 pc on spot demand
Cardamom prices rose 2.10 per cent to Rs 1,478 per kg in futures trade today as participants built up fresh positions on the back of improved export and spot demand. Further, restricted supplies from major producing belts added support to cardamom prices. At the Multi Commodity Exchange, cardamom for delivery in October was trading higher by Rs 30.50, or 2.10 per cent, to Rs 1,478 per kg in a business turnover of 52 lots. The spice for delivery in November traded higher by Rs 9.20, or 0.62 per cent, to Rs 1,484 per kg with a business volume of just one lot. Analysts said speculators widened their positions following reports of heavy losses to crop amid recent floods and improved export and spot demand pushed up cardamom prices.
Turmeric futures rise 1.51 pc on firm demand
Turmeric prices rose 1.51 per cent to Rs 6,586 per quintal in futures trade today after participants built up fresh positions on the back of pick-up in domestic and exports demand and restricted supplies from growing regions. At the National Commodity and Derivatives Exchange, turmeric for delivery this month's contract was trading higher by Rs 98, or 1.51 per cent, to Rs 6,586 per quintal with an open interest of 3,125 lots. The spice for October also increased by Rs 82, or 1.23 per cent, to Rs 6,698 per quintal in an open interest of 11,330 lots. Analysts said, fresh positions created by participants following the upsurge in domestic as well as exports demand at the spot market against restricted supplies from producing belts pushed up turmeric futures.
Oil rises as U.S. drilling stalls, Washington sanctions on Iran loom
SINGAPORE (Reuters) - Oil prices rose on Monday as U.S. drilling for new production stalled and as the market eyed tighter conditions once Washington's sanctions against Iran's crude exports kick in from November.
Max Financial Services Ltd leads gainers in 'A' group
Coffee Day Enterprises Ltd, KRBL Ltd, eClerx Services Ltd and Hexaware Technologies Ltd are among the other gainers in the BSE's 'A' group today, 10 September 2018.
Alibaba's Jack Ma to step down in one year, hand baton to CEO Zhang
BEIJING (Reuters) - Jack Ma, the charismatic co-founder of China's largest e-commerce firm Alibaba Group Holding Ltd, will step down as chairman in one year to concentrate on philanthropy and education, passing on the reins to trusted lieutenant Daniel Zhang.
Rent It Bae launches first AI retail store
Fashion rental platform, Rent It Bae on Monday announced the launch of India's first tech-enabled store in New Delhi, which promises to delight customers with its individualised services and interactive technology.With a no sales staff store, the customer can just pick what they want without any manual intervention thus saving time and mall talk. They can just pick a garment and place it in front of the smart screen, which will give out the details for fabric, designer, size chart, rental costs, MRP, security, etc."With the latest tech-enabled store, we have truly made it a smart experience for our consumers to do the exact same thing. This also gives our consumers the idea to try-out stuff without any manual, read sales staff, intervention, thus making it into an intensely personal experience," said CEO & co-founder Rent it Bae, Aanchal Saini.The tech-enabled store has thoroughly enabled its philosophies into a seamless customer experience by putting in force a Magic Mirror, ...
Richemont reintroduces CEO role as sales rise
GENEVA (Reuters) - Cartier maker Richemont on Monday named group veteran Jerome Lambert as chief executive officer to help the world's second biggest luxury goods group master adjust to changing consumer habits and put its watch brands back on track.
Business travel a social status for millenials: Report
Almost 60 per cent of the people between 19-34 years of age consider business travel a status symbol and also an upward movement in life, reports the OnRoute survey by technology-driven budget hotel franchise brand FabHotels.
Targeting double digit growth in India: Fujifilm India MD
Tokyo-headquartered photography and imaging major Fujifilm Corp is targeting double-digit growth of its business in India this financial year and subsequent years, according to Fujifilm India Managing Director Haruto Iwata.
Mentha oil futures surge 3.10% on spot demand
Mentha oil prices climbed 3.10 per cent to Rs 1,798.80 per kg in futures market Monday as participants increased their bets amid pick-up in demand from both domestic and overseas markets. Besides, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported the upside in mentha oil prices. At the Multi Commodity Exchange, mentha oil for delivery this in month's contract was higher by Rs 54.20, or 3.10 per cent, at Rs 1,798.80 per kg with a business volume of 270 lots. The oil for October contract was also up by Rs 44.90, or 2.54 per cent, to Rs 1,812 per kg with a trading volume of 80 lots. Marketmen said widening of positions by traders following pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Crude palm oil futures gain 0.65%
Crude palm oil prices went up by 0.65 per cent to Rs 604.70 per 10 kg in futures trade Monday as speculators widened their positions amid firm demand at the spot market. Besides, a positive trend in overseas markets supported the upmove. At the Multi Commodity Exchange, crude palm oil for this month's contract rose by Rs 3.90, or 0.65 per cent, to Rs 604.70 per 10 kg in a business turnover of 103 lots. Similarly, the oil for delivery in October contract went up by Re 3, or 0.50 per cent, to Rs 608 per 10 kg in 31 lots. Analysts said widening of positions by participants amid pick up in spot demand against tight stocks position on restricted supplies from overseas markets kept crude palm oil prices higher in futures trade.
Wheat futures slip 0.59% on ample stocks
Wheat prices slipped 0.59 per cent to Rs 2,018 per quintal in futures trade Monday as speculators trimmed positions, triggered by adequate stocks positions at spot markets. At the National Commodity and Derivatives Exchange, wheat for delivery in September declined by Rs 12, or 0.59 per cent, to Rs 2,018 per quintal with an open interest of 2,130 lots. Analysts said offloading of positions by traders amid sufficient stocks position on increased supplies from producing belts in the physical market against low demand weighed on wheat prices in futures trade.
Sensex, Nifty hit fresh intraday low
Key benchmarks further extended losses and hit fresh intraday low in mid-morning trade, tracking subdued global cues and sharp fall in the Indian rupee. At 11:20 IST, the barometer index, the S&P BSE Sensex, was down 293.03 points or 0.76% at 38,096.79. The Nifty 50 index was down 99.20 points or 0.86% at 11,489.90. Concerns over heightened US-China trade tensions weighed on investors sentiment.
InCred on-boards Kamlesh Dangi as Group Head for HR
Mumbai based new-age financial services group, InCred on Monday announced appointment of industry veteran Kamlesh Dangi as Group Head for Human Resources.In his role, Dangi will lead the firms HR practise across all aspects from talents acquisition and nurturing, compensation and benefits, digitsation of internal processes and finally shaping organisational cultureKamlesh has a proven track record of more than two decades. He most recently held the position of CHRO of UTI AMC and prior to that was Group Chief - People Officer at Religare Enterprises. Kamles has also worked as a senior member of the HR function at ICICI Bank for many years."Our Incredibly talented leadership team and employees have been key to InCred's phenomenal growth so far. We are delighted to welcome a leader of Kamlesh's caliber to take the HR function to the next level," said founder and CEO of InCred, Bhupinder Singh."I've learned over the years that people make an organization what it truly is. Thus, people ...
How Indonesia Rupiah woes will affect India
Singapore, Sept 10 (ANI): In the past week, in all likelihood, the central banks of India and Indonesia pumped in billions of dollars to support their respective currencies with the Indian Rupee touching record lows against the US dollar and the Rupiah reaching its lowest level since the Asian financial crisis of 1998. This is an effort to prevent their currencies from freefalling and impacting their economies negatively.Lately, there has been a lot of concern with regards to the growing economic problems in emerging markets with the economies of Turkey, Argentina and South Africa in crisis and whether there will be a contagion effect on other emerging markets and even major economies. This coupled with the ongoing Trump trade war with Canada and China has made many investors nervous.The Indonesian stock market fell as much as 6 per cent in the middle of the week compared with Monday's opening but recovered to end the week down just 2.2 per cent.Besides intervening in the foreign ...
Rupee falls against dollar, rallies around 72
Showing continues depreciation against the US dollar, the Rupee on Monday rallied around the Rs. 72 mark.The currency opened at 72.18, marking down of 60 paise from Friday's closing value of Rs 71.73 against a dollar.However, it has been witnessing a fall for several days now against the US dollar after breaching the 69-mark last month.The Government is under pressure from the Opposition for the weak performance of the Indian Rupee.
Refined soya oil futures rise 0.51% on spot demand
Amid pick up in demand at the domestic spot market against restricted supplies from growing regions, refined soya oil prices went up by 0.51 per cent to Rs 743.20 per 10 kg in futures trade Monday as participants built up fresh positions. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September rose by Rs 3.75, or 0.51 per cent, to Rs 743.20 per 10 kg with an open interest of 23,040 lots. Similarly, the oil for delivery in October contracts gained Rs 3.65, or 0.49 per cent, to Rs 746.25 per 10 kg in 37,650 lots. Analysts said building up of positions by traders after pick-up in demand in the physical market against restricted supplies from producing belts led to the rise in refined soya oil prices.
Nickel futures rise 0.27% on firm spot cues
Nickel prices rose 0.27 per cent to Rs 896 per kg in futures trade today as traders widened their bets on pick-up in demand from consuming industries at the spot market. At the Multi Commodity Exchange, nickel for delivery in October moved up by Rs 2.40, or 0.27 per cent, to Rs 896 per kg in a business turnover of six lots. Also, the metal for delivery in this month's contract gained Rs 2.30, or 0.26 per cent, to Rs 891 per kg in 850 lots. Marketmen said raising of positions by speculators following pick-up in domestic demand from alloy-makers, led to the rise in nickel prices in futures trade.