Page 2643 - Business Finance
HCL Technologies Ltd soars 2.3%, Gains for third straight session
The stock is quoting at Rs 1073.25, up 2.3% on the day as on 12:49 IST on the NSE. HCL Technologies Ltd is up 24.81% in last one year as compared to a 16.4% gain in NIFTY and a 53.18% gain in the Nifty IT index.
Sun Pharmaceuticals Industries Ltd up for five straight sessions
The stock is quoting at Rs 657.7, up 0.23% on the day as on 12:44 IST on the NSE. Sun Pharmaceuticals Industries Ltd is up 33.72% in last one year as compared to a 16.44% gain in NIFTY and a 14.04% gain in the Nifty Pharma.
Wipro Ltd soars 1.65%, up for fifth straight session
The stock is quoting at Rs 313.45, up 1.65% on the day as on 12:44 IST on the NSE. Wipro Ltd is up 5.45% in last one year as compared to a 16.44% spurt in NIFTY and a 53.15% spurt in the Nifty IT.
Lego dinosaurs and sports car help toymaker build recovery
COPENHAGEN (Reuters) - Sales of Lego dinosaurs and a Bugatti sports car helped the Danish toymaker stabilise revenue in the first half of this year after a drop in 2017 for the first time in more than a decade.
Canada's Oxford offers $2.4 billion for Australia's Investa fund, edging out Blackstone
(Reuters) - Investa Office Fund said on Tuesday that Canada-based Oxford Properties Group had offered A$3.29 billion ($2.4 billion) for acquiring the property manager, higher than an A$3.2 billion offer earlier from Blackstone Group.
Reliance Home Fin in exclusive talks with an overseas investor for equity investment
Reliance Home Finance (RHFL), a subsidiary of Reliance Capital, has entered into exclusive discussions with an overseas institutional investor for a potential equity investment into the company. Reliance Home Finance said the discussions are subject to confirmatory due diligence, definitive documentation, and necessary approvals. "Reliance Home Finance has entered into exclusive discussions with an overseas institutional investor for a potential equity investment... in RHFL, along with an appropriate governance framework," the company said in a BSE filing. There can be no certainty at this stage that these discussions will result in any transaction. Further announcements will be made as appropriate, in due course, it added. Earlier this fiscal, Reliance Home Finance had said it is targeting to achieve an assets under management (AUM) of Rs 50,000 crore by 2021 and is focusing on affordable housing for future growth. For the year ended March 31, 2018, the company made disbursements of .
Sensex, Nifty trade little changed amid fund outflow worries
(Reuters) - Indian shares were little changed on Tuesday amid concerns of foreign fund outflows after the rupee hit a new low in its recent record-setting spree, while gains in IT stocks on the back of a weaker currency underpinned the market.
Maize futures slip on negative physical cues
Maize prices slipped by Rs 12 to Rs 1,356 per quintal in futures trade today on narrowing of bets by speculators amid downbeat physical market sentiment. Marketmen said traders were shrinking their holdings, guided by cheerless sentiment at spot markets, which directed the downfall in maize futures prices. At the spot markets, prices were enquired lower due to subdued demand from poultry feed makers amid ample stocks on relentless supplies from growing belts, they said. At the National Commodity and Derivatives Exchange counter, maize delivery for September came down by Rs 12 or 0.88 per cent to Rs 1,356 per quintal, with an open interest of 5,480 lots. In similar fashion, the delivery for October moved down by Rs 3 or 0.22 per cent to Rs 1,385 per quintal with an open interest stood of 1,110 lots.
Gold falls as trade, emerging market worries lift dollar
BENGALURU (Reuters) - Gold prices edged down on Tuesday as the dollar hit a more-than-one-week high on the back of intensifying global trade tensions and economic worries in emerging markets.
U.S. crude prices rise as Gulf oil rigs evacuated; Brent dips
SINGAPORE (Reuters) - U.S. oil prices rose on Tuesday, breaking past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane.
Aluminium futures gain 0.50% on positive spot cues
Aluminium prices edged up by 0.50 per cent to Rs 149.35 per kg in futures market today as speculators built up fresh positions, taking positive cues from spot market on improved demand. At the Multi Commodity Exchange, aluminium for delivery in September edged higher by 75 paise, or 0.50 per cent, to Rs 149.35 per kg in a business turnover of 426 lots. On similar lines, the metal for delivery in October contracts edged higher by 50 paise, or 0.33 per cent, to Rs 150.50 per kg in nine lots. Analysts said fresh positions created by participants following uptick in demand from consuming industries in the physical market influenced aluminium prices in futures trade.
Metal and mining stocks decline
Stocks continued to hover near the flat line in early afternoon trade. At 12:25 IST, the barometer index, the S&P BSE Sensex, was up 16 points or 0.04% at 38,328.52. The Nifty 50 index was down 5.80 points or 0.05% at 11,576.55. Metal and mining stocks declined.
Cottonseed oil cake futures rise on physical cues
Cottonseed oil cake prices strengthened by Rs 25.50 to Rs 1,759.50 per quintal in futures trade today on widening of holdings by traders. Marketmen mentioned the uplift to low stock positions amid brisk demand for animal feed makers at spot markets. At the National Commodity and Derivatives Exchange platform, cottonseed oil cake delivery for September spurted by Rs 25.50 or 1.47 per cent to Rs 1,759.50 per quintal, with a business turnover of 61,160 lots. In line with the general trend, the delivery of the December contract too inched down by Rupee one or 0.06 per cent to Rs 1,725.50 per quintal, showing an open interest of 48,980 lots.
Australia's Investa Office Fund gets $2.4 billion takeover offer from Oxford Properties
(Reuters) - Investa Office Fund said on Tuesday that Canada-based Oxford Properties Group had offered A$3.29 billion ($2.4 billion) for acquiring the property manager, trumping an earlier offer from the Blackstone Group.
Hathway Cable & Datacom Ltd leads gainers in 'B' group
Allied Digital Services Ltd, Beardsell Ltd, Texmo Pipes & Products Ltd and Ind-Swift Ltd are among the other gainers in the BSE's 'B' group today, 04 September 2018.
Guar seed futures skid on low demand
Guar seed prices slumped by Rs 107.50 to Rs 4,326.50 per quintal in futures trade today as traders preferred to cut their holdings, dampened by negative physical markets stance. Markertmen attributed the downslide in guar seed futures prices to soaring stocks on non-stop arrivals from growing areas amid paucity of demand from guar gum makers at existing levels in the spot markets. At the National Commodity and Derivatives Exchange platform, guar seed delivery for October dipped by Rs 107.50 or 2.42 per cent to Rs 4,326.50 per quintal, revealing an open interest of 1,13,280 lots. Likewise, the delivery for November slipped by Rs 103 or 2.30 per cent to Rs 4,377 per quintal, with an open interest of 12,620 lots.
Crude palm oil futures gain on firm demand
Crude palm oil prices went up by 1.01 per cent to Rs 606.80 per 10 kg in futures trade today 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 delivery in this month rose by Rs 6.10, or 1.01 per cent, to Rs 606.80 per 10 kg in a business turnover of 656 lots. Similarly, the oil for delivery in October went up by Rs 5.40, or 0.89 per cent, to Rs 610 per 10 kg in 195 lots. Analysts said widening of positions by participants amid pick-up in spot demand against tight stock position on restricted supplies from overseas markets kept crude palm oil prices higher.
Mustard seed futures advance on spot sentiment
Mustard seed prices rose by Rs 16 to Rs 4,092 per quintal in futures trade today as traders enlarged bets buoyed by upbeat physical markets lead. Marketmen said, rising prices at the spot markets due to pause in supplies against pick-up in demand for oil mills, mainly led an upsurge in mustard seed futures prices. At the National Commodity and Derivatives Exchange counter, mustard seed delivery for October marked up by Rs 16 or 0.39 per cent to Rs 4,092 per quintal, showing an open interest of 40,690 lots. The delivery for September moved up by Rs 13 or 0.32 per cent to Rs 4,014 per quintal, with an open interest of 59,500 lots.
Skoda Auto India appoints Zac Hollis as director sales, service and marketing
Skoda Auto India Tuesday announced the appointment of Zac Hollis as Director Sales, Service and Marketing. Hollis, who is currently head of sales China region at Skoda Auto, Czech Republic, will take charge with effect from November 1, 2018, the company said in a statement. He will report to Skoda Auto India Managing Director Gurpratap Boparai, it added. Hollis will replace Ashutosh Dixit, who will take on an international role within the Volkswagen (VW) Group, the company said. His appointment comes at a time when Skoda Auto India has been entrusted to lead Volkswagen group's India 2.0 project. In July this year, VW group had announced an investment of 1 billion euro (around Rs 7,900 crore) between 2019 and 2021 as part of its latest strategy to enhance presence in India. Commenting on the appointment, Boparai said, "His (Hollis') experience and expertise in developing markets like China will help us immensely to implement the India 2.0 strategy for Skoda Auto India.
Larsen & Toubro Infotech Ltd leads gainers in 'A' group
Kwality Ltd, Greaves Cotton Ltd, Jubilant Life Sciences Ltd and Infosys Ltd are among the other gainers in the BSE's 'A' group today, 04 September 2018.