Page 2645 - Business Finance
IT stocks gain on weak rupee
Key benchmark indices were off day's low in morning trade, with the Sensex regaining the positive zone while Nifty was slightly in the negative zone. At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 31.72 points or 0.08% at 38,344.24. The Nifty 50 index was down 6.80 points or 0.06% at 11,575.55. IT stocks gained on weak rupee.
IT shares firm up on weak rupee
Nine IT stocks rose by 0.38% to 3.39% at 10:15 IST on BSE as the rupee weakened against the dollar.
Persistent Systems gains after acquisition
Persistent Systems rose 1.92% to Rs 853 at 10:04 IST on BSE after the company said its US arm acquired 100% stake in Herald Technologies for $5.2 million.
Equity indices reverse opening gains to trade in red
The key Indian equity indices turned negative minutes after opening on positive note on Tuesday.
Fuel prices up for 10th consecutive day
Citizens are yet to receive any respite from rising fuel prices, as the rates of petrol and diesel have risen for the tenth consecutive day.In New Delhi, petrol prices were hiked by 16 paise to trade at Rs 79.31 per litre, while diesel is being sold 19 paise higher at Rs.71.34 per litre.The price of petrol has crossed the Rs 86 mark in Mumbai to be sold at Rs 86.72 per litre, while diesel is being sold at Rs 75.74 per litre.The rise in prices has burnt a hole in the pockets of locals in the two metropolitan cities, with commuters urging government's intervention in the matter.Speaking to ANI, Ashwaq Saeed, a commuter from Mumbai, said "If at all we have to travel outside Mumbai via car, the prices of the fuel is so high that it pinches our pocket. It is high time that the Centre must take some action in order to control the prices."Narrating his ordeal, another commuter, Aslam Sheikh, said that because of the surge in prices of petrol and diesel, the prices of the other products are ..
Rupee falls to fresh low of 71.37 per dollar
The Indian rupee hit a new all-time low of 71.37 per dollar on Tuesday tracking a similar trend among its global peers and amid concerns of trade war escalation.
Market drifts lower in volatile early trade
A bout of volatility was seen in early trade as the key benchmark indices reversed initial gains to sink in negative zone. At 9:30 IST, the barometer index, the S&P BSE Sensex, was down 87.73 points or 0.23% at 38,224.79. The Nifty 50 index was down 19.10 points or 0.16% at 11,563.25.
Board of Varun Mercantile approves shifting of registered office
At meeting held on 03 September 2018
India Grid Trust allots NCDs and completes investment in Patran Transmission Company
On 31 August 2018
U.S. oil prices rise as Gulf oil rigs evacuated ahead of hurricane
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.
Asian shares hit by trade friction, emerging market tumult; dollar up
SHANGHAI (Reuters) - Asian shares fell and the dollar turned higher on Tuesday as the trade dispute between the United States and China threatened to escalate this week, and as emergency austerity measures in Argentina underscored the turbulence gripping emerging markets.
Board of Celebrity Fashions approves allotment of 21.91 lakh shares on conversion of warrants
On 03 September 2018
Japan finance minister seeks record 2019 budget to boost welfare, defence spending
TOKYO (Reuters) - Japanese Finance Minister Taro Aso said on Tuesday initial budget requests for fiscal 2019 would likely reach a record high around 102 trillion yen ($918 billion), given an ageing population and defence challenges from China and North Korea.
Persistent Systems in focus after acquisition
Persistent Systems announced that its US subsidiary, Persistent Systems Inc., has acquired Herald Technologies Inc. (or Herald Health), a start-up in the US, created to transform the data overload swamping healthcare professionals into clear and actionable insights. Herald Health is focused on implementation of proprietary platforms and related IT services for the healthcare industry. The acquired business will strengthen Persistent's IP led offerings in the healthcare domain and create a number of cross-sell opportunities. The enterprise value payable for the acquisition of 100% shares of Herald is $5.2 million, subject to customary adjustments for working capital. The announcement was made after trading hours yesterday, 3 September 2018.
Market may open slightly higher
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 6 points at the opening bell.
Indian airline losses could reach $1.9 billion this year - CAPA India
NEW DELHI (Reuters) - Indian airlines are expected to post combined losses of up to $1.9 billion this financial year led by full-service carriers like Air India and Jet Airways driven by rising costs and low air fares, aviation consulting firm CAPA India said.
Asian shares fall under pressure from trade, emerging markets worries
SHANGHAI (Reuters) - Asian shares fell in early trade on Tuesday, amid growing concerns over escalating international trade disputes and as emergency austerity measures in Argentina highlighted turbulence in emerging markets.
Gold edges lower as trade tensions weigh
LONDON/NEW YORK (Reuters) - Gold prices eased slightly on Monday as the dollar held near a one-week high on worries over an escalation in trade conflicts between the United States and other countries.
Pakistan at risk of debt distress due to CPEC: U.S. senators
As newly elected government in Pakistan headed by Prime Minister Imran Khan is willing to pursue an International Monetary Fund (IMF) bailout, a group of United States Senators have asserted that Islamabad is at risk of debt distress due to rising current-account deficit and external debt obligations caused by the China Pakistan Economic Corridor (CPEC).David A Perdue, Patrick Leahy and 14 other U.S. senators have written to Secretary of State Michael R. Pompeo and Secretary of Treasury Steven T. Mnuchin while expressing concern over bailout request by countries that fall in China's debt trap."These financial crisis illustrates the dangers of China's debt-trap diplomacy and its Belt and Road Initiative (BRI) to developing countries, as well as the national security threat they pose to the United States," said the senators in their letter.The Centre for Global Development has estimated that of the 68 countries currently hosting BRI-funded projects, 23 countries are at risk of debt ...