Page 2607 - Business Finance
Tata Motors Ltd up for third straight session
The stock is quoting at Rs 278.3, up 3.09% on the day as on 12:49 IST on the NSE. Tata Motors Ltd is down 25.8% in last one year as compared to a 16.29% jump in NIFTY and a 1.56% jump in the Nifty Auto index.
Bajaj Auto Ltd spurts 3.34%, rises for third straight session
The stock is quoting at Rs 2876, up 3.34% on the day as on 12:49 IST on the NSE. Bajaj Auto Ltd is down 1.35% in last one year as compared to a 16.29% gain in NIFTY and a 1.56% gain in the Nifty Auto index.
TVS Motor Company Ltd soars 3.61%, Gains for third straight session
The stock is quoting at Rs 590.25, up 3.61% on the day as on 12:49 IST on the NSE. TVS Motor Company Ltd is down 7.04% in last one year as compared to a 16.29% gain in NIFTY and a 1.56% gain in the Nifty Auto index.
Guar seed futures extend weakness on rising stockpiles
Guar seed prices fell by Rs 63.50 to Rs 4,316.50 per quintal in futures trade today as speculators narrowed their holdings, taking negative leads from the physical markets. Marketmen said soaring stocks in the market following unabated supplies from producing belts led to the fall in guar seed futures prices. At the National Commodity and Derivatives Exchange, guar seed for October was trading lower by Rs 63.50, or 1.45 per cent, to Rs 4,316.50 per quintal, having an open interest of 1,07,510 lots. Similarly, the delivery in November drifted down by Rs 60, or 1.36 per cent, to Rs 4,363 per quintal, with an open interest of 12,880 lots.
NCLAT says Numetal bid for Essar Steel eligible, asks ArcelorMittal to clear dues in 3 days
The National Company Law Appellate Tribunal (NCLAT) Friday ruled that Russia's VTB Capital-backed NuMetal's second bid for Essar Steel is eligible but the same by ArcelorMittal will qualify only if it clears the Rs 7,000 crore dues of firms it was previously associated within three days. NuMetal and steel tycoon Lakshmi Mittal-led ArcelorMittal had in February submitted separate bids to takeover Essar Steel, which lenders were auctioning to recover their Rs 49,000 crore defaulted loans. The Committee of Creditors (CoC), however, disqualified both bids saying their promoters were tied to companies which were bank loan defaulters and so ineligible under Section 29A of the Insolvency and Bankruptcy Code. The second round of bids was called where JSW Steel joined NuMetal to put in a bid of Rs 37,000 crore while Vedanta Ltd entered the fray as a third bidder. ArcelorMittal too put in a bid. A two-member bench of NCLAT headed by Chairman Justice S J Mukhopadhaya ruled that the first round ..
HURL gets land on lease to revive 3 urea plants
Hindustan Urvarak and Rasayan Ltd (HURL) has received land on lease for 55 years to revive FCIL's Gorakhpur and Sindri units and Barauni unit of HFCL. The land agreement and also concession pacts in this regard have been executed by HURL in the presence of Fertiliser Secretary Bharathi Sivaswami Sihag and senior officials of Fertilizer Corporation of India Limited (FCIL) and Hindustan Fertilizer Corporation Limited (HFCL). As per the agreements signed, FCIL and HFCL has leased the land to HURL for 55 years, an official statement said. The revival of three units will augment indigenous production of urea. The three new units are currently under implementation and are expected to be commissioned by early 2021, it added. HURL, a joint venture company of the NTPC, Indian Oil Corporation(IOC), Coal India and Fertilizer Corporation of India Limited (FCIL) and Hindustan Fertilizer Corporation Limited (HFCL), incorporated to implement the fertiliser revival projects at Gorakhpur in Uttar ...
Paytm enables Visa credit card bill payments on its platform
One97 Communications Limited, that owns the brand Paytm, India's largest digital payments company has announced its partnership with Visa, to enable Visa credit card payments across banks on the Paytm App.The platform has also integrated BHIM UPI as a source of pulling funds for the customer to pay for credit card bill payments thereby adding an important use-case for Paytm BHIM UPI.VISA credit card users can now pay their monthly bills at any-time, anywhere using their preferred payment method including UPI, net banking and debit cards. The company aims to process over 2 million credit card bill payments this financial year."We are delighted to partner with Visa in enabling seamless credit card bill payments on Paytm. This will benefit millions of credit card users across the country," said Kiran Vasireddy, COO - Paytm.He added that the company has also integrated Paytm BHIM UPI to enable users to pay for their bills, along with other payment methods like debit card, ...
RBI defends 72 rupee/dollar mark strongly - dealers
MUMBAI (Reuters) - The Reserve Bank of India intervened heavily in the foreign exchange market on Friday, mounting a formidable defence of the 72 rupee to the dollar mark in a reversal of its light-handed approach in the last few weeks, dealers said.
China's Aug bank lending seen lower but shift to credit easing intact: Reuters poll
BEIJING (Reuters) - China's banks likely extended fewer new loans in August than the previous month, but the pace was still well above last year's levels as the central bank looks to support the economy amid rising U.S. trade tensions, a Reuters poll showed.
Barley futures decline on negative physical cues
Barley prices drifted lower by Rs 10.50 to Rs 1,611 per quintal in futures trade today after participants cut down their holdings, tracking a weakening trend at the spot markets. At the National Commodity and Derivatives Exchange, barley for delivery in September slipped by Rs 10.50 or 0.65 per cent to Rs 1,611 per quintal, having an open interest of 990 lots. The most-active delivery in October too inched lower by Rs 5 or 0.30 per cent to Rs 1,680 per quintal, depicting an open interest of 8,020 lots.
ECGC should provide liberal insurance cover to promote exports: FIEO
The commerce ministry should direct the Export Credit Guarantee Corporation (ECGC) to provide liberal insurance coverage to consignments with a view to promote overseas shipments, FIEO said Friday. Federation of Indian Export Organisations (FIEO) President Ganesh Gupta said the claims made by exporters should be settled on time and not rejected outrightly. "We have asked the commerce ministry to direct ECGC on this issue. Exporters are facing huge problem at this front. Proper insurance cover is important to boost the country's exports. ECGC should work with exporters to address all the issues," he said. Gupta said the liberal insurance cover for markets such as Africa and Latin America would help promote shipments in these regions. In June, the government approved capital infusion of Rs 2,000 crore to ECGC to enhance insurance coverage to micro, small and medium enterprises exports. Insurance coverage from the corporation will help improve competitive position of Indian exporters in
Sensex and Nifty edge up, head for worst weekly drop since mid-May
(Reuters) - Indian shares edged higher on Friday, supported by gains in energy and auto stocks, but were headed for their biggest weekly drop since mid-May as a depreciating rupee soured investor sentiment.
Pharma shares gain
Stocks gyrated in a small range near the flat line in early afternoon trade. At 12:27 IST, the barometer index, the S&P BSE Sensex, was up 26.53 points or 0.07% at 38,269.34. The Nifty 50 index was up 16.60 points or 0.14% at 11,553.50. Pharma shares gained.
Bank of Maharashtra reviews MCLR rates
With effect from 07 September 2018
Playtech sells whole stake in Plus500 for $228 million
(Reuters) - Playtech Plc has sold its entire 10 percent shareholding in retail online trading platform Plus500 for about 176 million pounds ($228 million), the company said on Friday, giving no details on the buyer.
Amin Tannery Ltd leads gainers in 'B' group
Texmo Pipes & Products Ltd, Sree Rayalaseema Hi-Strength Hypo Ltd, Ador Welding Ltd and Tejas Networks Ltd are among the other gainers in the BSE's 'B' group today, 07 September 2018.
Global Markets: Asia shares worn out by trade tension, yen a safe harbour
SYDNEY (Reuters) - Asian shares carved out a 14-month trough on Friday as investors feared a new salvo of Sino-U.S. tariffs could come at any moment, while a slump in U.S. chip stocks rippled through the tech-heavy region.
Castor seed futures slide on weak spot markets
Castor seed prices weakened by Rs 27 to Rs 0.58 per cent to Rs 4,640 per quintal in futures trade today after participants liquidated their bets, tracking a weak trend at the physical markets. Marketmen attributed the fall in castor seed prices in futures trade to cutting down of bets by participants amid mounting stocks on consistent supplies from growing belts. At the National Commodity and Derivatives Exchange, castor seed to be delivered this month declined by Rs 27 or 0.58 per cent to Rs 4,640 per quintal, clocking an open interest of 32,680 lots. Also, the most-traded delivery in October eased by Rs 14 or 0.29 per cent to Rs 4,732 per quintal, having a business turnover of 1,29,850 lots.
Kirloskar Oil Engines Ltd leads gainers in 'A' group
Himadri Speciality Chemical Ltd, Jubilant Life Sciences Ltd, Cyient Ltd and Aurobindo Pharma Ltd are among the other gainers in the BSE's 'A' group today, 07 September 2018.
British Airways website suffers data breach; 380,000 payments affected
(Reuters) - Financial and personal data has been stolen from potentially hundreds of thousands of British Airways customers who booked online in recent weeks, extending a run of embarrassing technological mishaps suffered by the UK flag carrier.