Page 2597 - Business Finance
Outcome of board meeting of Bullish Bonds & Holdings
Held on 08 September 2018
Board of Piramal Enterprises allots 85,280 equity shares on conversion of CCDs
At meeting held on 07 September 2018
Petrol prices surge; crosses Rs 80 a litre in Delhi
The high cost of global crude oil and a weak rupee led the petrol price in Delhi to cross a record high level of Rs 80 per litre on Saturday.
Haier signs MoU with UP Govt; to invest in state over next four years
Consumer Electronics brand Haier has announced signing of a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh (UP) to set up its second industrial park in India to strengthen its commitment towards 'Make in India' initiative.Haier, which will invest Rs.3069 crore in the state over the next four years, is expected to create almost 4000 new direct employment opportunities along with over 10,000 indirect jobs.The expansion will serve as an opportunity for vendors and OEMs, bringing about an expanded business with increased local production and lesser imports of products.To boost local manufacturing, Haier will set up its industrial park in Greater Noida to fulfill its commitment towards the central government's 'Make in India' initiative.The MoU was signed in the presence of the Chief Minister of Uttar Pradesh, Yogi Adityanath and other dignitaries from the Government of Uttar Pradesh along with Song Yujun, VP, Global Appliances Haier Group and Managing Director, ...
FastFox registers 3x growth post rollout of revolutionary 'Open House' model
Home rental marketplace FastFox has announced a three-fold growth post its adoption of the 'Open House' model.Clocking a month-over-month (MoM) growth of 20 percent, FastFox now extends handpicked renting options (through its AI-based recommendation engine that analyses 108 diverse data points) to its customers based on their end-to-end needs and preferences.The customers can browse through the recommended properties, reserve time slots, and visit these Open Houses at the designated time. The platform also helps its customers with end-to-end paperwork and ancillary services that are required for relocation.Since the rollout of its new business model, FastFox.com's GMV run rate (annual) is now also peaking at USD 20 million. Its inventory, moreover, comprises 40% of the rentable houses in Gurgaon and is being used by more than 15% of all home seekers in the city. The monthly closures have simultaneously increased to around 280 to 300 per month, up from 100 during early 2018, which is ..
External factors responsible for fuel price hike: Pradhan
Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Saturday reiterated that the hike in fuel price in the country was due to international factors, and not under the Centre's control.Speaking to reporters here, the minister said that one major reason for the rise in fuel price is the depreciation of the Indian rupee against the US dollar."Due to two major external factors, this unavoidable situation is prevailing in the market. American Dollar is creating a unique and unavoidable situation which is not good for world's economy also. Today, the Indian currency is stronger as ever. But how do we purchase oil? Through Dollars. Today Dollar is, in a way, the world's biggest exchange currency. That is creating a problem for us," Pradhan said.He also said that the Organization of Petroleum Exporting Countries (OPEC) had promised to produce 1 mn MT/day, but as per July-August statistics, the target is not being fulfilled."Issues of Iran, Venezuela and Turkey are creating pressure
Retailers to look out if you are a sports enthusiast
People who like to remain fit and active in their daily lives understand the importance of sports brands. Be it for running, cycling, gymming or even yoga, a person needs to have the right kind of clothes, shoes, and bicycle to perform at their best potential.Here are some amazing sports retailers in the market that are famous among sports enthusiasts:Element RetailElement Retail is India's strongest fitness-focused premium retail brand. With iconic brands such as Asics, Speedo and Giant Manufactures, it offers the widest range of products from these brands with complete assurance regarding quality and prompt service. It aims to continue its association with the best brands in the world and bring to Indian customers a world class experience of their beloved brands.DecathlonDecathlon S.A. is a popular French sporting goods retailer. It is one of the largest sporting goods retailer with over 1400 stores in 45 countries. It brings the joy of sports to people across the world by ...
Freight rates fall on excess truck position
Freight rates for the nine-metric tonne pay load section declined by Rs 1,000 at the local truck transport market in the national capital Saturday following heavy position of trucks against restricted cargo movements. Transporters said besides tight movements of cargo, ample position of trucks in the markets, mainly attributed fall in freight rates for a few destinations. Capital to Guwahati, Hyderabad, Bengaluru and Mumbai freight rates dropped by Rs 1,000 each to Rs 60,000, Rs 57,000, Rs 62,000 and Rs 30,000. Rates to Ahmedabad, Baroda, Patna and Surat also came down by Rs 1,000 each to Rs 23,000, Rs 26,000, Rs 29,000 and Rs 27,000.
Jack Ma to step down as Alibaba chief, to pursue philanthropy
In a surprising move, China's richest man, Jack Ma, has revealed plans to step down as the Executive Chairman of e-commerce giant Alibaba on Monday to pursue philanthropy in education, paving the way for a change of guard for the $420 billion Internet company that he co-founded.
Gur ends quiet in listless trade
Quiet conditions persisted at the wholesale gur (Jaggery) market in the national capital on Saturday following scattered demand and prices finished at previous levels. Muzaffarnagar and Muradnagar gur markets also ruled steady in thin trade. Marketmen said activity remained extremely restricted and volume of business also dropped. Following are today's rates (in Rs per quintal): Gur chakku Rs 3,300-3,400, pedi Rs 3,600-3,700, dhayya Rs 3,700-3,800 and shakkar Rs 3,800-3,900. Muzaffarnagar: Rasket Rs 2,800-2,850, chakku Rs 2,950-3,050, khurpa NA and Ladoo NA. Muradnagar: Pedi Rs 3,350-3,400 and dhayya NA.
Niyogin Fintech acquires 50% stake in Moneyfront for Rs 12 cr
Niyogin Fintech, which provides platform for collateral free credit to MSME's, Saturday said it has acquired 50.1 per cent stake in Moneyfront for Rs 12 crore. "Niyogin Fintech Ltd has announced that it had entered into an agreement to acquire 50.1 per cent share in Moneyfront for Rs 12 crore," the company said in a statement. Moneyfront, a subsidiary of InvestDirect Capital Services, provides platform to help clients invest in mutual funds and other fixed-income instruments. The deal will be a non-cash equity swap transaction, the statement said, adding that investments from Niyogin, as part of the deal, will be used for acceleration of growth and business requirements. "We are excited to partner with Moneyfront where I believe that the combination of wealth solutions and talent, which Moneyfront brings to the table will enable deepening of our existing client relationships while being value accretive to our shareholders," Niyogin Chairman and Co-Founder Amit Rajpal said. The ...
Maize rises on uptick in demand
In thin trade, maize prices hardened by Rs 20 per quintal at the wholesale grains market Saturday due to pick up in demand from consuming industries. However, other grains held steady in tight movements. Traders said mild demand from consuming industries led to rise in maize prices. In the national capital, maize rose by Rs 20 to Rs 1,360-1,365 per quintal. Following are today's quotations (in Rs per quintal): Wheat MP (desi) Rs 2,320-2,420, Wheat dara (for mills) Rs 2,000-2,005, Atta Chakki(delivery) Rs 2,010-2,015, 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 (Lal Quila) Rs 10,700, Shri Lal Mahal Rs 11,300, Super Basmati rice Rs 9,900, Basmati common new Rs 7,900-8,000, Rice Pusa (1,121) Rs 6,850-6,950, Permal raw Rs 2,425-2,450, Permal wand Rs 2,525-2,575, Sela Rs 3,050-3,150 and rice IR-8 Rs 2,025-2,075. Bajra Rs 1,350-1,355, Jowar yellow Rs ..
Steady condition prevails in oil market
Steady condition prevailed at the wholesale oils and oilseeds market Saturday as prices of edible and non-edible oils moved in a narrow range on alternate bouts of trading and pegged at last levels. Traders said adequate stocks position against sporadic demand mainly kept edible and non-edible oils unaltered. 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 Refined (per tin) Rs 1,750-1,850, Mustard expeller (Dadri) Rs 8,200, Mustard Pakki Ghani (per tin) Rs 1,295-1,340, Mustard Kachi Ghani (per tin) Rs 1,345-1,445, Sesame mill delivery Rs 10,500, Soybean Refined mill delivery (Indore) Rs 7,750, Soybean Degum (Kandla) Rs 7,350, Crude Palm Oil (Ex-Kandla) Rs 5,600, Cottonseed mill delivery (Haryana) Rs 7,800, Palmolein (RBD) Rs 6,850, Palmolein (Kandla) Rs 6,900 and Coconut (per ...
Gold slips Rs 100 on global cues, low demand; silver rebounds
Falling for the second straight day, gold prices declined by Rs 100 to Rs 31,350 per 10 grams at the bullion market Saturday on a sluggish overseas trend and softness in local demand. However, silver bounced back by Rs 275 to Rs 37,775 per kg due to increased offtake from industrial units and coin makers. Marketmen said apart from a weak trend overseas, easing demand from local jewellers and retailers at the domestic spot market weighed on gold prices. Globally, gold prices fell 0.28 per cent to USD 1,196.20 an ounce in New York in yesterday's trade following upbeat US jobs data that strengthened the dollar and eroded demand for the precious metals as a safe haven. In the national capital, gold of 99.9 per cent and 99.5 per cent purity drifted further lower by Rs 100 to Rs 31,350 and Rs 31,200 per 10 grams, respectively. The precious metal had shed Rs 60 yesterday. Sovereign, however, remained steady at Rs 24,500 per piece of eight grams. On the other hand, silver ready rebounded by ..
Petrol price in Delhi crosses Rs 80 mark, diesel at highest ever
Petrol price in the national capital Saturday crossed the Rs 80 mark for the first time ever as rupee depreciation made imports costlier. Petrol price was Saturday raised by 39 paise a litre and diesel by 44 paise per litre, according to price notification issued by state fuel retailers. The increase pushed the petrol price in Delhi to Rs 80.38 per litre. Diesel rate touched its highest level of Rs 72.51 a litre. In Mumbai, a litre of petrol costs Rs 87.77 and diesel comes for Rs 76.98, the notification said. Fuel prices in Delhi are the cheapest among all metros and most state capitals due to lower taxes. Mumbai has the highest tax rates among the metros. Opposition parties have called for a nation-wide 'Bharat Bandh' on Monday (September 10) to protest against the spiralling fuel prices. The spike in prices has renewed calls for cut in excise duty but Finance Minister Arun Jaitley has remained non-committal, saying international oil prices are volatile and have not shown any linear .
Akzo Nobel India appoints Rajiv Rajgopal as Managing Director
The Board of Directors of Akzo Nobel India Limited (ANIL) has approved the appointment of Rajiv Rajgopal as the Managing Director of the company, effective from November 1, 2018.Amit Jain, Chairman, Akzo Nobel India Limited said, "I warmly welcome Rajiv back to India from his current assignment heading the Middle-East and Africa region. Rajiv's earlier experience at managing and profitably growing the Dulux business in India, makes him the ideal candidate to take Akzo Nobel India to greater heights".
Real Estate platforms helping tenants with end to end solutions
Traditional methods of leasing where the tenant and the property owner must meet to sign a contract and give out the keys are passing away.Due to the hectic schedule, many people are unable to invest their time, money and energy to upkeep and maintain the property so they prefer property management firms.These platforms help tenants with end to end solutions like renovation of the house, rent agreement, legal work, shifting etc.Below mentioned platforms are bridging this gap to expedite the buyers/ sellers from the shifting woes:RenisoReniso offers a complete range of services from property monitoring, leasing, maintenance, renovation, sale/ purchase, loan & insurance services along with legal and advisory assistance. Right from property management work processes to smartly-designed, smooth and functional client interface that works basis a slew of complex algorithms, the platform ensures quality deliverable, adding to the customer delight.NoBroker.comThis platform helps you save .
RBI imposes penalty of Rs 1 cr on Bank of India
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Syndicate Bank increases MCLR
With effect from 10 September 2018
Board of Vijay Textiles fixes issue price of proposed preferential issue of warrants/ equity shares
At meeting held on 08 September 2018