Page 2650 - Business Finance
Ashok Leyland shares gain nearly 4 pc on robust sales
Shares of Ashok Leyland Monday gained nearly 4 per cent after the company reported 27 per cent increase in its total sales for August. The scrip climbed 3.21 per cent to settle at Rs 133.40 on the BSE. Intra-day, it jumped 4.52 per cent to Rs 135.10. On the NSE, shares of the company rose by 3.60 per cent to end at Rs 133.70. In terms of the equity volume, 17 lakh shares of the company were traded on the BSE and over 3 crore shares changed hands on the NSE during the day. Ashok Leyland Saturday reported a 27 per cent increase in its total sales at 17,386 units in August. The company had sold 13,637 units in the same month last year.
President Kovind invites investment from Cyprus
Underling Cyprus' contribution to India's economic growth, President Ram Nath Kovind today invited the businesses in the Mediterranean nation to invest in the country in the areas of digitalisation, Smart Cities, infrastructure and tourism. Cyprus is the eighth largest investor in India and bilateral trade stands at around USD 8.2 billion. During his address to the House of Representatives of Cyprus, the President said India is at an exciting juncture and offers appealing business opportunities. He said massive outlays and attractive and viable projects are evident in the Digital India mission, Smart Cities mission and in key infrastructure sectors such as power and energy, highways, and ports and shipping. India is also promoting tourism in a big manner, including by way of simplifying visa provisions and augmenting infrastructure and facilities, Kovind said. "In all these areas, we look to Cyprus for partnership. You can come as investors and you can come as stake-holders, you can ..
FPIs press sales
Net outflow of Rs 2781.04 crore on 31 August 2018
China discusses ways to stabilise market expectations: central bank
BEIJING (Reuters) - China's financial oversight body has discussed with experts ways to improve communications with market participants and stabilise market expectations, the central bank said on Monday.
RBI buys 8.46 tonne of gold in FY18; first purchase in 9 yrs
The Reserve Bank of India (RBI) has bought 8.46 tonne of gold in financial year 2017-18, the first purchase of yellow metal by the apex bank in almost nine years, a report said. RBI held 566.23 tonne of gold as on June 30, 2018, compared with 557.77 tonne as on June 30, 2017, according to RBI's latest annual report for 2017-18. "The increase is on account of addition of 8.46 tonne of gold during the year," the report said. Last time the apex bank purchased gold was in November 2009, when it had bought 200 tonne of yellow metal from the International Monetary Fund (IMF). Of 566.23 tonne of gold reserves, 292.30 tonne is held as backing for notes and is shown as an asset of the Issue Department, and the balance 273.93 tonne is treated as an asset of the Banking Department. The value of gold held as asset of Banking Department rose by 11.12 per cent to Rs 69,674 crore as on June 30, 2018, from Rs 62,702 crore as on June 30, 2017. This increase was primarily on account of ...
UK government in talks to keep Carney longer at BoE: BBC
LONDON (Reuters) - Britain's finance ministry is in talks with the Bank of England over whether Governor Mark Carney is willing to stay beyond his planned departure date of June 30 next year, amid difficulties finding a successor, the BBC reported on Monday.
Sensex sheds over 300 points on global cues; Nifty ends below 11,600
Shedding the gains made earlier in the day, the Indian equity indices plunged nearly 1 per cent on Monday, with the S&P BSE Sensex losing 332.55 points, tracking similar global cues and a slowdown in the manufacturing sector.
Fund raising via QIP dives 86 pc in Apr-Jul FY19
Funds raised by Indian firms by issuing shares to institutional investors plunged by a massive 86.56 per cent to nearly Rs 4,070 crore in the first four months of the current fiscal. During April-July of 2017-18, the firms had mobilised Rs 30,279 crore. As per the data available with the Securities and Exchange Board of India, the capital mopped up by the listed firms through qualified institutional placement (QIP) route stood at Rs 4,070 crore during April-July of 2018-19. The funds were mobilised for business expansion, refinancing of debt, working capital requirements and other general corporate purposes. QIP is an alternative mode of resource raising available for listed companies to mobilise funds from the domestic market. In April 2018, the firms garnered Rs 1,862 crore, while the amount mopped up by them in May and June 2018 stood at Rs 1,008 crore and Rs 1,200 crore, respectively. No funds were raised during July 2018. Also, there were 9 issues during April-July of 2018-19 ...
Choice International signs deal to acquire broking business of NG Rathi Group
The acquisition of Retail Broking Business of "NG Rathi" group brings in over 11,000 clientele base into "Choice Broking" and additionally brings in a network of its two branches.
'NPAs hampered economy's growth, not demonetisation'
New Delhi [India], Sep 3 (ANI): NITI Aayog Vice Chairman Rajiv Kumar on Monday said that economic growth in six quarters starting from the last quarter of 2015-16 slowed down due to rise in Non-Performing Assets (NPAs) and not the 2016 demonetisation drive, as claimed."The declining trend for the last six quarters starting 2015-16, when the growth rate was as high as 9.2 per cent, was not a result of demonetisation. The growth was declining because of the rising NPAs in the banking sector. When this (Narendra Modi) government came to office, that figure was about Rs 4 lakh crore. It rose to Rs 10.5 lakh crore by the middle of 2017, because under the previous RBI governor Mr (Raghuram) Rajan, they had instituted a new mechanism to identify stressed NPAs. This continuously began to rise, after which the banking sector stalled credit disbursal to the industry. In fact, in some cases like that of the Micro, Small and Medium Enterprises (MSME) industry, credit actually shrank. It was a ...
Quick Wrap: Nifty FMCG Index falls 2.44%
Powered by Capital Market - Live News
Gold hovers above $1,200, under pressure from trade tensions
LONDON (Reuters) - Gold prices steadied on Monday as the dollar held near a one-week high on worries over an escalation in trade conflicts between the United States and its trading partners.
Reliance Infra pays Rs 2,640 cr outstanding electricity dues to Maha govt
Reliance Infrastructure today said it has paid all outstanding electricity duty and other taxes amounting to Rs 2,640 crore to the Maharashtra government last week on closure of deal to sell its integrated Mumbai power distribution business to Adani Transmission Ltd. "Reliance Infrastructure has reduced debt liabilities by Rs 13,800 crore from the deal proceeds. Regulatory Assets under approval of Rs 5,000 crore will flow entirely to Reliance Infrastructure making the company debt-free in 2019,' the company said in a BSE filing. This was the largest ever debt reduction for any company in the Indian power sector, the company said, adding that with this deal, it is set to achieve top-end ratings.
The ThickShake Factory announces new outlet in Mumbai
The ThickShake Factory, India's first premium thick shake brand, is all set to expand its footprint in Maharashtra by launching its outlet in Bandra, Mumbai.Bringing the concept of cold dessert beverage quick service business (QSB) for the first time in the country, The ThickShake Factory currently has 90 outlets in 20 cities including one in US.The founders of The ThickShake factory, M. Yeshwanth Nag and Ashwin Mocherla, were inspired by the global trend of growing appetite for sweet savories and therefore brought the most appealing range of tastiest 'Thick' Shakes to India.With the scheduled launch of their outlet on 13th September at Bandra in Mumbai, The ThickShake Factory is aiming at increasing its footprint in the state of Maharashtra in the coming months with a simple concept and built a category around it.As a precursor to the launch, the company will also be the official beverage partner for India Retail Forum this year, the best place to connect, collaborate and create ...
Interview: Russia's oil industry can shoulder extra taxes, finance ministry says
MOSCOW (Reuters) - Russia's oil industry is awash with cash and will be able to withstand the planned 1 trillion roubles ($15 billion) in extra taxes over the next six years, Alexei Sazanov, the head of the tax department in the finance ministry, said in an interview.
Sensex closes lower; Hindustan Unilever, ITC top drags
(Reuters) - Indian shares reversed course to end lower in the final hour of trade on Monday, tracking global cues, with the Indian rupee hitting a record low and crude prices on the climb.
Trade war could force heavier hand from China on yuan
SHANGHAI (Reuters) - China's central bank may have to decide soon whether to intervene more forcefully to support the wobbling yuan currency as the United States readies more sweeping tariffs on Chinese goods.
Xi announces $60 bn for Africa
China will extend a total of $60 billion of financing to Africa, Chinese President Xi Jinping announced on Monday.
Elan Group joins hand with Mitsubishi
Elan Group, one of the leading commercial real estate developers of Gurgaon, has entered into a strategic partnership with Mitsubishi Elevator India Private Limited (hereafter called Mitsubishi Elevator).Mitsubishi Elevator India Private Limited's mother factory in Japan, called Mitsubishi Electric Corporation Inazawa Works, is one of the leading global manufacturers of elevators and escalators. This partnership will help Elan Group deliver high-end commercial properties in Delhi-NCR."Elan Group believes in delivering lasting quality coupled with luxury to its customers. We believe in using high-end products and technology in all our projects. Elan Group is privileged to be associated with the world-renowned Mitsubishi Elevator," said Ravish Kapoor, Director, Elan Group.The deal was finalized in August 2018 under the mentorship of Raj Singhal, CEO, Elan Group. Elan will be using Mitsubishi elevatora in all its commercial projects. Under this agreement, a letter of intent (LoI) has ...
China August manufacturing growth slows to 14-month low: Caixin PMI
BEIJING (Reuters) - China's manufacturing activity grew at the slowest pace in more than a year in August, with export orders shrinking for a fifth month and employers cutting more staff, a private survey showed on Monday.