Page 2641 - Business Finance
Lockout at Odisha plant lifted: JK Paper
JK Paper said Tuesday that lockout at its manufacturing unit in Odisha has been lifted, sending its shares up by close to 5 per cent on bourses. In a regulatory filing, the company said contract workers at unit JKPM at district Rayagada have called off stoppage of work and accordingly, the lockout declared by JK Paper at the plant on August 31, 2018, has been lifted. "... Some of the contract workers at unit JKPM at district Rayagada, Odisha, had resorted to illegal and unlawful stoppage of work, which has resulted in disruption of production threat since then," JK Paper had said in a BSE filing on August 31. It further had said, "The company, due to their continued illegal and unlawful activities of stoppage of work, has declared a lockout with effect from today August 31, 2018, at the said unit and it shall continue till further notice in this regard". Shares of JK Paper were trading 4.98 per cent up at Rs 171.80 on BSE.
Sugar prices slip on bumper stock, thin demand
Sugar prices fell by Rs 70 per quintal at the wholesale market in the national capital today following weak demand and soaring stocks. Increase in monthly sugar quota by over 14 per cent to 20 lakh tonnes for September, too, pulled down the trading sentiments in sugar prices. Marketmen said besides, limited offtake by stockists and bulk consumers, bumper stocks position brought down the sugar prices. Sugar mill delivery M-30 and S-30 prices declined by Rs 50 each to conclude at Rs 3,110-3,255 and Rs 3,100-3,245 per quintal, respectively. Sugar ready M-30 and S-30 prices also dropped Rs 30 each to finish the day at Rs 3,380-3,480 and Rs 3,370-3,470 per quintal, respectively. In mill gate section, sugar Khatuli, Mawana, and Dorala lost Rs 70 each to conclude at Rs 3,230, Rs 3,145 and Rs 3,150 per quintal, respectively. Sugar Kinnoni, Budhana, Thanabhavan, Modinagar and Shamli slide by Rs 60 each to Rs 3,255, Rs 3,155, Rs 3,145, Rs 3,130 and Rs 3,115 per quintal, respectively. Following .
Amazon.in now available in Hindi
Breaking the language barrier for Indian customers, Amazon India on Tuesday launched a link for a Hindi option on its e-commerce portal 'amazon.in' available on Android and its mobile website.
Railways needs to increase earnings, reduce expenditure: Sinha
Indian Railways needs to increase its earnings and reduce expenditure as also use its resources to produce solar energy, Union Minister Manoj Sinha said Tuesday. He was speaking at a Conference on E-Mobility in Indian Railways. The Minister of State for Railways said in 2017-18, railways electrified 4,000 km route and in 2018-19 it targets to electrify 6,000 km route. He also exhorted the railways to use its resources and become the largest producer of solar energy by providing its spare land. Speaking at the same event, Niti Aayog CEO Amitabh Kant said battery storage will be the key driver of e-mobility. Kant pointed out that the market share of railways sector is falling rapidly. "It is not good for the country. Railways will have to play a critical role in India's economic development," the Niti Aayog CEO said. Noting that out of the 20 most polluted cities in the world, 14 are in India, Kant said if India will use electric power then it will be able to reduce both pollution and ..
UK bank CEO resigns following big IT breakdowns
The banking group TSB says its chief executive, Paul Pester, has quit after a string of huge IT failures. The group said Tuesday that non-executive chairman Richard Meddings would take over while a search for a new CEO begins. Pester's decision follows another IT failure Monday that left some customers unable to access their accounts. Earlier this year, roughly 1.9 million account holders were unable to access their digital or mobile accounts due to a widespread IT breakdown. Meddings said Pester will leave with 1.2 million pounds (USD 1.54 million) in pay and benefits for a 12-month notice period plus a bonus.
NCC Ltd leads losers in 'A' group
Network 18 Media & Investments Ltd, Sun TV Network Ltd, TV18 Broadcast Ltd and Edelweiss Financial Services Ltd are among the other losers in the BSE's 'A' group today, 04 September 2018.
China explores merger of carriers China Unicom, China Telecom - Bloomberg
SHANGHAI (Reuters) - The Chinese government is exploring a merger of two of the nation's top wireless carriers to speed up the development of 5G mobile services, Bloomberg reported on Tuesday, citing people familiar with the matter.
Govt clears over 36% hike in artisan wages
The MSME Ministry has approved a proposal by the Khadi and Village Industries Commission (KVIC) to increase the wages of artisans by over 36 per cent, from Rs 5.50 per hank previously to Rs 7.50 per hank. In a statement, KVIC said Tuesday its proposal for increase in wages to Khadi spinners along with payment of government subsidy -- modified market development assistance (MMDA), has been approved with effect from August 15, 2018. Under the MMDA programme, 30 per cent of the prime cost is paid to the Khadi institutions as production subsidy. Out of this 30 per cent, 40 per cent goes to artisans as wage incentives and the remaining 60 per cent goes to the Khadi institutions. The wage incentives are paid by KVIC directly to the accounts of the artisans through direct benefits transfer. As a result, if an artisan makes 20 hanks in a day he will get Rs 150 per day as wage at the rate of Rs 7.50 per hank, plus incentives like MMDA, which would be approximately 35 per cent on Rs 150, that .
Reuters poll: No-deal Brexit odds hold at one in four, economists say
LONDON (Reuters) - The chances Britain will leave the European Union in March without a deal are one in four, a Reuters poll found, and the Bank of England is likely to wait until after Brexit before raising borrowing costs again.
Global Markets: Dollar shifts up through the gears, EM currencies skid again
LONDON (Reuters) - A rebound in Chinese shares and a rally in Italian bonds bolstered Europe's spirits on Tuesday, though the pressure remained firmly on emerging market currencies as the dollar shifted up through the gears again.
Rupee falls to fresh low of 71.43 per US dollar
High crude oil prices and negative global cues pulled the Indian rupee to a new record low of 71.43 per US dollar in the late on Tuesday afternoon.
Steel Strips Wheels sales volumes grow 14% in August 2018
Achieves total wheel rim sales of 14.14 lakh
TCI Developers Ltd leads losers in 'B' group
Balmer Lawrie Investment Ltd, STI India Ltd, Khaitan (India) Ltd and Binani Industries Ltd are among the other losers in the BSE's 'B' group today, 04 September 2018.
WOW air appoints Kiran Jain as MD for India operations
Kiran Jain, a dynamic professional with over 25 years of experience in the commercial aviation business covering both airports and airlines, will be joining WOW air as the Managing Director for India.Her experience ranges from airlines and airports in the United States and India where she has led the marketing, sales, communication and government relations functions, thereby bringing a diverse aviation management experience to the company.Most recently, Kiran was the Director for Commercial and Government Relations with AirAsia India.She was also the Head of Airline Marketing at Delhi International Airport (P) Ltd in an earlier role."It is our pleasure to welcome Kiran to our team and have her lead our operations in India. Kiran has great versatile work experience in the Indian market which I am sure will benefit and strengthen our presence in India.WOW air is committed to provide the best possible prices and services to its Indian customers. We welcome Kiran aboard and wish hergreat
Air India gets Rs 2100Cr govt borrowing
National carrier Air India has been assured of Rs 2100 crore from the Centre in the form of guaranteed borrowing, Ministry of Civil Aviation Secretary RN Chaubey said on Tuesday.On May 22, Chaubey had said that the option of selling Air India would not be available if the bidding amount ascertained was inadequate."There are two stages of bidding. The first involves an expression of interest in bidding. The last date for this is May 31. The ones who succeed in this will be asked to present a financial bid. We are seeing a lot of excitement about the sale. However, if the required amount is not met, we will decide whether the sale will take place or not," Choubey told ANI.However, the Ministry official assured that interest of those employed with the national carrier would be safeguarded at all times.In March this year, the Centre had appointed Ernst & Young LLP India (EY) as its transaction advisor for advising and managing the proposed strategic disinvestment of the national ...
UK construction activity slows in August, price pressures ease
(Reuters) - British construction activity slowed in August after reaching a two-year high the month before, as builders worked their way through projects delayed by bad weather earlier in the year, industry data showed on Tuesday.
Cement, telecom stocks fall
Fresh selling in index pivotals pulled the key benchmark indices to intraday low in mid-afternoon trade. At 14:27 IST, the barometer index, the S&P BSE Sensex, was down 170.12 points or 0.44% at 38,142.40. The Nifty 50 index was down 73.95 points or 0.64% at 11,508.40. Cement stocks dropped sharply. Telecom stocks declined.
Volumes soar at JM Financial Ltd counter
JM Financial Ltd recorded volume of 65.85 lakh shares by 14:14 IST on NSE, a 14.03 times surge over two-week average daily volume of 4.69 lakh shares
Timken India allots 72.18 lakh shares
Under Scheme of Amalgamation and Arrangement
Weak rupee subdues equity indices; TCS m-cap crosses Rs 8 lakh cr
A slump in the Indian rupee rupee along with broadly negative global cues subdued the key Indian equity indices on Tuesday afternoon.