Page 2618 - Business Finance
Sensex, Nifty hit intraday high
Key benchmark indices extended gains and hit fresh intraday high in mid-afternoon trade. At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 172.05 points or 0.45% at 38,190.36. The Nifty 50 index was up 39.65 points or 0.35% at 11,516.60. Most power generation stocks gained.
GST annual return forms to help check tax evasion: experts
The newly notified annual GST return forms will go a long way in checking tax evasion by providing the entire financial transactions logged by an assessee to the revenue department, said experts. The finance ministry has notified annual tax return forms for businesses registered under the GST, in which details of sales, purchases and input tax credit (ITC) benefits accrued to them during 2017-18 fiscal have to be provided in a consolidated manner. The last date for filing the annual return form for normal taxpayers (GSTR-9) and for composition taxpayers (GSTR-9A) is December 31. The Goods and Services Tax (GST), which subsumed 17 different indirect taxes, was rolled out on July 1, 2017. "Annual tax return is consolidation of the monthly returns being filed by assesses and it will completely expose the financial transactions before the revenue department. (In the forms) there will be no scope to claim excessive input credit," V Lakshmikumaran, Managing Partner, Lakshmikumaran & ...
Aurobindo to acquire Sandoz's dermatology, oral solids biz for
Pharma major Novartis on Thursday announced itagreed to sell selected portions of its Sandoz US portfolio, specifically the Sandoz US dermatology business and generic US oral solids portfolio, to Aurobindo Pharma USA Inc, for USD 900 million of cash plus USD 0.1 billion of potential earn-outs. According to a press release issued by the company, the Sandoz US portfolios to be sold to Aurobindo include approximately 300 products, as well as additional development projects. The sale includes the Sandoz US generic and branded dermatology businesses as well as its dermatology development centre. "As part of the transaction, Aurobindo will acquire the manufacturing facilities in Wilson, North Carolina, as well as Hicksville and Melville, New York. The business had net sales of USD 0.6 billion in H1, 2018," it said. As part of the agreement, approximately 750 employees in Hicksville, Melville, Wilson and Princeton, New Jersey, as well as the field representatives for the ...
Base metals up on industrial demand, global cues
Prices of base metals strengthened by up to Rs 5 per kg at the non-ferrous metals market following pick up in demand from consuming industries amid firm global cues. Traders said besides increased demand from consuming industries following a firm trend in base metals overseas mainly attributed to rise in base metals. Globally, copper for delivery in three-month added 0.5 per cent to USAD 5,899 per tonne on the London Metal Exchange, while at Shanghai Futures Exchange, it rose 0.8 per cent to 47,660 yuan a tonne. In the national capital, copper mixed scrap and nickel plate (4x4) rose by Rs 2 and Rs 5 to Rs 445 and Rs 938-940 per kg, respectively. Zinc ingot, lead ingot and lead imported also enquired higher by Rs 2 each to Rs 141-147, Rs 148 and Rs 155 per kg respectively. Following are today's metal rates (in Rs per kg): Zinc ingot Rs 141-147, nickel plate (4x4) Rs 938-940, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 445, chadri deshi Rs 295. Lead ingot Rs ..
Vivanta Industries Ltd leads losers in 'B' group
Tinna Trade Ltd, Arihant Foundations & Housing Ltd, BKM Industries Ltd and Motor & General Finance Ltd are among the other losers in the BSE's 'B' group today, 06 September 2018.
Volumes spurt at Housing & Urban Development Corporation Ltd counter
Housing & Urban Development Corporation Ltd registered volume of 113.05 lakh shares by 14:14 IST on NSE, a 10.92 fold spurt over two-week average daily volume of 10.35 lakh shares
Sagar Cements gains after good cement sales
Sagar Cements rose 1.49% to Rs 740.85 at 14:20 IST on BSE after the company said its total consolidated cement sales rose 24.03% to 247,051 MTs in August 2018 over August 2017.
Global Markets: World shares fall for fifth straight day, hit by trade war jitters
LONDON (Reuters) - World shares fell for a fifth straight day on Thursday as investors braced for another escalation in a trade war between the United States and China, while emerging-market currencies paused near 15-month lows.
World shares fall for fifth straight day, hit by trade war jitters
LONDON (Reuters) - World shares fell for a fifth straight day on Thursday as investors braced for another escalation in a trade war between the United States and China, while emerging-market currencies paused near 15-month lows.
Congress attacks Modi government over tumbling rupee
The Congress on Thursday attacked the Modi government after the rupee breached the 72 mark against the US dollar, saying government polices had derailed the economy.
Australian regulator files suit against NAB over fees charged to retirees
SYDNEY (Reuters) - Australia's corporate watchdog filed a lawsuit on Thursday against pension funds run by the wealth management unit of National Australia Bank Ltd, accusing them of charging fees with no service to hundreds of thousands of retirees.
Indian rupee breaches 72 to the dollar for first time, markets weigh mild RBI reaction
MUMBAI (Reuters) - The Indian rupee breached the 72 to the dollar mark for the first time on Thursday, extending losses as a rout in emerging markets kept investors on edge.
Equity indices cede major gains to trade marginally up
Volatility prevailed in the Indian equity market on Thursday as the key indices pared major gains made earlier in the day to trade marginally higher during the afternoon session.
Guar gum futures recover on export demand, weak rupee
Guar gum prices recovered Rs 35 to Rs 9,560 per quintal in futures trade as speculators accumulated huge positions on the back of pick-up in exports demand following depreciating rupee. Marketmen said participants indulged in accumulating positions due to strong export demand in the spot markets following weakness in the rupee mainly led to the rise in guar gum futures. The weak rupee is seen as a positive indication for the exporters, as their revenues comes in dollar. At the National Commodity and Derivatives Exchange, guar gum for October was trading higher by Rs 35, or 0.37 per cent, to Rs 9,560 per quintal, with an open interest of 59,655 lots. Guar gurm for November edged up by Rs 14, or 0.15 per cent, to Rs 9,650 per quintal having an open interest of 6,190 lots.
Don't look to ECB for bigger stability role: Mersch
FRANKFURT (Reuters) - The European Central Bank has only limited responsibility in maintaining financial stability, executive board member Yves Mersch said on Thursday, rebuffing calls for the bank to do more beyond getting inflation back on track.
China warns of retaliation if U.S. slaps new tariffs
BEIJING (Reuters) - China will be forced to retaliate if the United States implements any new tariff measures, China's commerce ministry warned on Thursday, as the world's two biggest economies remain locked in an intensifying trade war.
Bosch Ltd eases for fifth straight session
The stock is quoting at Rs 20645, down 0.26% on the day as on 13:19 IST on the NSE. Bosch Ltd tumbled 6.61% in last one year as compared to a 15.49% rally in NIFTY and a 0.88% fall in the Nifty Auto index.
Novartis sells parts of Sandoz U.S. to Aurobindo Pharma for $900 million
(Reuters) - Novartis AG said on Thursday it would sell the dermatology and generic U.S. oral solids portfolios of Sandoz U.S. to India's Aurobindo Pharma Ltd for $900 million, as the Swiss drugmaker looks to focus on higher growth areas.
Week before Ganeshotsav, petrol flares up to Rs 88.77 in Maharashtra
Barely a week before the state's biggest public festival Ganeshotsav, petrol-diesel prices in Maharashtra's Parbhani shot up to Rs 88.77, perhaps the highest in the country, an official said.
Novartis sells parts of Sandoz US to Aurobindo Pharma for $900 million
(Reuters) - Novartis AG said on Thursday it would sell the dermatology and generic U.S. oral solids portfolios of Sandoz U.S. to India's Aurobindo Pharma Ltd for $900 million, as the Swiss drugmaker looks to focus on higher growth areas.