Page 2652 - Business Finance
Balkrishna Industries tumbles after unveiling capex plans
Balkrishna Industries fell 7.15% to Rs 1266.50 at 14:29 IST on BSE after the company announced a capital expenditure plan of Rs 1700 crore.
Volumes soar at Mahindra CIE Automotive Ltd counter
Mahindra CIE Automotive Ltd recorded volume of 33.38 lakh shares by 14:14 IST on NSE, a 14.84 times surge over two-week average daily volume of 2.25 lakh shares
SBI responds to Singapore govt initiative with remittance centre
Responding to Singapore government's initiative for making it "easy lifestyle" for construction workers at dormitories, the State Bank of India has set up a remittance centre in the suburb Punggol district. "This is in line with the Singapore government's initiative of providing doorstep facilities for the workers living in dormitories," Soma Sankara Prasad, SBI's Country Head, told PTI after opening the centre on Sunday. Construction and marine industry workers can remit to their homes in India and Bangladesh in rupee and taka, respectively, he said. The centre will operate late in the night. The centre was opened by India's High Commissioner to Singapore, Jawed Ashraf, on Sunday. This reduces the worker's time to travel to main banks and branches in city areas, he pointed out. Depending on demand for the centre, SBI plans to open more outlets serving the South Asian workers. These centres will be in addition to the 25 ATMs and branches SBI is allowed as a full qualifying bank by the
Media Matrix Worldwide divests its entire stake in DigiVive Services
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Indices extend fall
Fresh selling pulled the key key benchmark indices to fresh intraday low in mid-afternoon trade. At 14:19 IST, the barometer index, the S&P BSE Sensex, was down 60.86 points or 0.16% at 38,584.21. The Nifty 50 index was down 24.45 points or 0.21% at 11,656.05. Auto stocks saw mixed trend after declaring monthly sales volume data for August 2018. Negative global cues weighed on the domestic bourses.
Retd IAS officer joins TPL as independent director
: Retired IAS officer N Sundaradevan has been appointed on the Board of Tamilnadu Petroproducts Ltd as an independent director with immediate effect. Sundaradevan has more than three decades of experience in government services including district administration, civil supplies, revenue, health and family, welfare, industries departments, a company statement said. He retired from service in September 2012, it said. Currently, he serves Ascendas IT Park Chennai, as its Director. Sundaradevan also holds the post of Independent External Monitor of Indian Oil Group company Chennai Petroleum Corporation among others, it added.
WPP names insider Read as new CEO after Sorrell
LONDON (Reuters) - WPP named insider Mark Read as its new chief executive on Monday tasked with replacing its founder Martin Sorrell and steering the world's biggest advertising company through a period of industry change.
Oil steady on high OPEC supply ahead of Iran sanctions
LONDON (Reuters) - Oil prices steadied on Monday, weighed down by rising supply from OPEC and the United States but supported by concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November.
MTNL's plans to hike borrowing limit, authorised capital, 'enablers' for 4G roll-out: CMD
MTNL's plans to seek approval of shareholders for raising authorised share capital to Rs 10,000 crore and borrowing powers by almost 40 per cent will aid the state-owned corporation's 4G plans and provide it the firepower to compete in the market, its chairman P K Purwar has said. At a time when the sector that has seen shuffling of the top deck with the recent completion of Vodafone and Idea Cellular merger, Mahanagar Telephone Nigam Ltd (MTNL) has lined up an annual general meeting on September 28 to raise the authorised share capital to Rs 10,000 crores from Rs 800 crores, as an enabling provision. It has also sought shareholders' approval for raising the borrowing powers of the board to Rs 25,000 crore from the current Rs 18,000 crore, and issue of non-convertible debentures on private placement basis. Much of this is being done in anticipation of 4G spectrum allocation by the government as and when it happens, Purwar said adding that increase in borrowing powers would be crucial .
Murali Yadama of MYK Laticrete wins 'The Most Trusted CEO' award
Managing Director of MYK Laticrete India Pvt. Ltd., Murali Yadama has been given the most trusted CEO award by WCRC Ideafest.WCRC Leaders Asia is currently one of the leading niche media in print and online format in Asia. The award honors excellence in businessmen, who have steered their organizations to great heights in the last financial year, and continues the success spree with their dynamism, strategy as well as the trust of the employees.WCRC Leaders Asia is an eclectic mix of contemporary findings on special issue on brands, organizations and leaders. The India edition enjoys the most superlative viewership across all business media in the country.With a Bachelors degree in Ceramic and Cement Engineering under his belt, Murali Yadama has been involved in creating and successfully operating building material companies.He was instrumental in forging and forming joint ventures with Laticrete International of USA and Schomburg GmbH of Germany and introduced quality building ...
Euro zone manufacturing growth eases on trade war worries: PMI
Euro zone manufacturing growth slowed to a near two-year low in August as optimism dwindled amid growing fears of an escalating global trade war, a survey showed on Monday.
India manufacturing growth eases in August on softer domestic demand: PMI
Growth in India's manufacturing sector unexpectedly slowed in August as domestic demand softened, a private business survey showed on Monday.
Lira sell-off poses no risk to Turkey's banks, Finance Minister Albayrak says
ISTANBUL (Reuters) - The sell-off in Turkey's lira poses no risk to the country's banks, Finance Minister Berat Albayrak said in an interview, in stark contrast to recent comments from major ratings agencies about the impact of the currency crisis on lenders.
Rupee Deceleration Temporary As Indian economy Resilient To Withstand External Shocks
India's trade deficit (merchandise) increased from around USD 89 billion in FY2008 to USD 162 billion in FY2018. For the current year, India's trade deficit increased to around USD 63 billion in April - July FY2019 as against USD 52 billion in the corresponding period of last year. International market volatility, increasing trade protectionism, depreciating international currencies including weakness of Chinese Yuan and rise in crude oil prices have put pressure on Indian rupee in the recent times, said Mr. Aggarwal.
Indian economy is approaching towards its potential growth trajectory: PHD Chamber
The employment oriented construction sector has posted an inspiring growth of 8.7% in Q1 FY2019 which is indicating improved Ease of Doing Business in the construction sector, said Mr. Anil Khaitan. The growth of agriculture, forestry and fishing at 5.3% in Q1 FY2019 is reflecting the focus of the government on agriculture and rural economy during the last few years which would go a long way to strengthen the economy and put it on USD 5 trillion economy by 2025, added Mr. Anil Khaitan. Growth of electricity, gas, water supply and other utility services at 7.3% in Q1 FY2019 is also indicative of strengthening reforms, said Mr. Khaitan.
GST Revenue collection for August 2018 close to ninety-four thousand crore rupees
The total revenue earned by Central Government and the State Governments after settlement including provisional settlement of Rs. 12,000 crore in the month of August, 2018 is Rs. 36,963 crore for CGST and Rs. 41,136 crore for the SGST. For the bi-monthly period June-July, 2018, compensation of Rs. 14,930 crore has been released to the States.
Gold down as rising trade tensions unnerve investors
BENGALURU (Reuters) - Gold fell on Monday as the dollar remained firm on worries over intensifying Sino-U.S. trade tensions, especially after an impasse in trade talks between the United States and Canada. Spot gold was down 0.2 percent to $1,198.43 an ounce at 0708 GMT, after hitting an intra-day low of $1,195.36.
Oil prices steady as OPEC supplies weigh but Iran sanctions loom
SINGAPORE (Reuters) - Oil prices were stable on Monday, weighed down by rising supply from OPEC and the United States but supported by concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November.
Reliance Infra wins Rs 200-crore arbitration against NHAI: Company
Reliance Infrastructure on Monday said it has won a Rs 200 crore arbitration award against National Highway Authority of India (NHAI). "A three-member Arbitration Tribunal in its unanimous award on August 31, 2018, has asked NHAI to pay Rs 150 crore by November 29, 2018, to Reliance Infrastructure. NHAI will have to pay interest at the rate of 12 per cent per annum on the amount if they do not pay Rs 150 crore by the deadline," the company said in a BSE filing. The tribunal has also awarded Reliance Infrastructure compensation at the rate of 13.5 per cent of actual revenue for the loss of revenue suffered due to change in location of toll plaza, it added. Reliance Infrastructure said this is payable from March 2017 till the end of concession on January 14, 2038. Net present value of this future cash-flow is estimated at over Rs 50 crore. Reliance Infrastructure said the need for arbitration arose due to prolonged delay in providing land by the NHAI to TD Toll Road Pvt Ltd (TD Toll ...
Kapas futures drop on weak physical demand
Kapas prices eased by 0.26 per cent to Rs 1,138.50 per 20 kilos at the futures trade today on cutting down of bets by the traders amid lower physical markets lead. Marketmen said traders were shortening their holdings, depressed by weak sentiments in the spot markets, which reflected the downfall in kapas futures prices. In the spot market feeble demand from textile industries and fiber units held the prices in the negative territory, they added. At the National Commodity and Derivatives Exchange, kapas for April 2019 faded by Rs 3, or 0.26 per cent, to Rs 1,138.50 per 20 kilos, having business turnover of 3,515 open interest lots.