Page 2655 - Business Finance
Volumes soar at City Union Bank Ltd counter
City Union Bank Ltd clocked volume of 7.31 lakh shares by 10:47 IST on BSE, a 33.1 times surge over two-week average daily volume of 22076 shares
CPWD to execute CWC's upcoming projects in country
The CPWD will execute several upcoming projects of Central Warehousing Corporation (CWC) as both the agencies are set to sign an MoU Thursday, a senior official said. The official of the Central Public Works Department (CPWD), which comes under the Housing and Urban Affairs Ministry, said the memorandum of understanding (MoU) will be signed to construct the warehouses of corporation. "The CWC has expressed interest in getting its various project executed through the CPWD. Both the Central Warehousing Corporation and the CPWD will sign the MoU on September 6 ," CPWD Director General Prabhakar Singh told PTI. The CWC, a premier warehousing agency providing logistics support to the agricultural sector, is one of the biggest public warehouse operators in the country offering logistics services to a diverse group of clients. Another official said the number of projects to be executed by the CPWD is yet to be ascertained as it is expected to be finalised in the MoU. "The number of projects .
Global stocks still hooked on buybacks; trade war snaring more bulls: Reuters poll
BENGALURU (Reuters) - The historic run-up in world shares will continue through 2019, but the outlook for almost half of the major bourses polled by Reuters has slipped, with many now only expected to recoup losses from this year's sell-off.
L&T Construction bags orders worth Rs 2,654 crore from MSRDC
Larsen & Toubro (L&T) Monday said its construction arm has won orders worth Rs 2,654 crore from Maharashtra State Road Development Corporation (MSRDC). L&T, in a regulatory filing, said its transportation infrastructure business has bagged a new order worth Rs 2,095 crore from MSRDC, for the construction of the six-lane Nagpur Mumbai Super Communication Expressway in Maharashtra. Its heavy civil infrastructure business has bagged an order worth Rs 559 crore from MSRDC for construction of the Thane Creek Bridge-III. "The project involves construction of a 1.837 kilometer dual bridge across the Thane Creek Channel connecting Mumbai and Navi Mumbai," it added. Shares of the company were trading at Rs 1,384 apiece, up 1.09 per cent, from the previous close on BSE.
IT stocks in demand
Key benchmark indices extended gains and hit fresh intraday high in morning trade. At 10:12 IST, the barometer index, the S&P BSE Sensex, was up 136.51 points or 0.35% at 38,781.58. The Nifty 50 index was up 32.20 points or 0.28% at 11,712.70. IT stocks gained.
Crude oil weakens by 0.44% on negative overseas cues
Crude oil prices dipped by 0.44 per cent to Rs 4,937 per barrel in futures market today as speculators cut bets amid weak global cues. At the Multi Commodity Exchange, crude oil for delivery in September fell by Rs 22, or 0.44 per cent to Rs 4,937 per barrel in business turnover of 700 lots. Similarly, the oil for delivery in October shed Rs 19, or 0.38 per cent to Rs 4,930 per barrel in a single lot. Analysts said said off-loading of positions by traders in line with a weak trend overseas amid rising supply from OPEC and the United States, influenced crude oil prices at futures trade. Globally, brent shed 24 cents, or 0.31 per cent, to USD 77.40 a barrel while West Texas Intermediate (WTI) crude oil was down 15 cents, or 0.21 per cent to USD 69.62 a barrel, on the New York Mercantile Exchange.
Silver futures down 0.38% on overseas cues
Taking weak cues from the global markets, silver prices drifted lower by 0.38 per cent to Rs 36,561 per kg in futures trading today as participants reduced their exposure. At Multi Commodity Exchange, silver for delivery in September fell by Rs 140, or 0.38 per cent to Rs 36,561 per kg in business turnover of 77 lots. Likewise, the white metal for delivery in December declined by Rs 117, or 0.31 per cent to Rs 37,365 per kg in 253 lots. Analysts attributed the slide in silver futures to a weak trend in the precious metals overseas. Globally, silver fell 0.52 per cent to USD 14.43 an ounce in Singapore.
Hero MotoCorp sells 6.85 lakh motorcycles in August 2018
Records 10% growth in first five months of FY 2018
Board of Hindustan Construction Company to consider fund raising
On 05 September 2018
L&T gains after winning orders
Larsen & Toubro rose 1.16% to Rs 1,384.95 at 10:31 IST on BSE after the company said its construction arm has won orders worth Rs 2654 crore across various business segments.
Global Economy: Asian factories feel pinch from escalating trade conflict
TOKYO (Reuters) - Manufacturing activity in major Asian economies took a hit from weak export orders in August, a sign firms are starting to feel the pinch from intensifying trade friction between the United States and China that many fear could derail global growth.
Bajaj Auto August sales up 30% at 4.37 lakh units
Bajaj Auto today reported a 30 per cent increase in total sales in August at 4,37,092 units as against 3,35,031 units in the same month last year. Domestic sales increased by 27 per cent at 2,55,631 units as against 2,00,659 units in the same month last year, Bajaj Auto said in a BSE filing. Total motorcycle sales were at 3,62,923 units as against 2,83,861 units in August last year, up 28 per cent. Bajaj Auto said its total commercial vehicles sales stood at 74,169 units as against 51,170 units in the year-ago month, a growth of 45 per cent. Exports during the month were at 1,81,461 units as compared to 1,34,372 units in the corresponding month last year, up 35 per cent, the company added.
No relief from surging fuel prices
Surging fuel prices have left common people perturbed. In the national capital, petrol is being sold Rs.0.31 higher at Rs 79.15 per litre, while diesel prices have been hiked by Rs.0.39 to a price of Rs 71.15 per litre.In Mumbai, petrol price has breached the Rs 86 mark, and was being sold at Rs 86.56 per litre (increased by Rs 0.31 per litre) while diesel spurted to a new high of Rs 75.54 per litre (increase by Rs 0.44 per litre).The skyrocketing fuel prices have burnt a hole in people's pockets.A resident of Mumbai requested the government to intervene in the matter and facilitate a decrease in prices. "We are facing a lot of problem due to hike in fuel prices. Would like to request the government to decrease the prices," Taj Mohammad, a Mumbai resident, told ANI.On Sunday, the price of petrol was Rs 78.84 per litre in Delhi and that of diesel was Rs 70.76 per litre. In Mumbai, petrol was sold at Rs 86.25 per litre and diesel at Rs 75.12 per litre.Union Minister for Petroleum and ...
Oil falls on rising output from OPEC and United States
SINGAPORE (Reuters) - Oil prices fell on Monday amid rising supply from OPEC and the United States, outweighing concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November.
Bajaj Auto records highest ever monthly sales
Sells 4.37 lakh units in August 2018
Bajaj Auto gains after good August sales
Bajaj Auto rose 1.04% to Rs 2774.95 at 10:17 IST on BSE after the company reported a 30% growth in its total vehicles sales at 4.37 lakh units in August 2018 over August 2017.
Govt to target 25 clusters to boost handicraft exports
The government is in the process of identifying 25 export-oriented clusters to boost India's shipments from the handicraft sector, a top official said. The exports of handicrafts during the April-June period registered a growth of 3.52 per cent in rupee terms and stood at Rs 5,797 crore. However, in dollar terms, there was a marginal decline of (-) 0.39 per cent with exports of USD 865 million. "We are in the process of identifying 25 handicraft export-oriented clusters to boost shipments from the sector. We can even organise reverse buyer-seller meets in these clusters," Development Commissioner (Handicrafts) Shantmanu told PTI. Besides, he said, in the last two years, 25 lakh artisans have been identified for issuance of 'pehchan' (identity) card which enables them to avail direct benefit transfer facility under schemes, and 20 lakh artisans have already been issued such cards. Office of Development Commissioner (Handicrafts) comes under the administrative control of the Textiles ...
IndiGo's 10 lakh seats up for grabs at fares starting Rs 999
Budget carrier India said Monday it has put on sale 10 lakh (one million) promotional seats for all-inclusive fares starting Rs 999 for a one way journey across its flight network, under a limited period offer. The Gurugram-headquartered airline has also offered a super cash amount of up to Rs 600 (20 per cent) on booking the ticket through mobile wallet provider MobiKwik under the promotional offer, according to a company release. The bookings of tickets under the four-day "festive sale" offer have begun from Monday for the travel period from September 18, 2018 to March 30, 2019, it said. "We are delighted to announce this four-day festive sale across our network, effective from September 3 till September 6, 2018. We are sure customers will quickly grab the seats we have available, starting at fares as low as Rs 999," IndiGo's chief commercial officer William Boulter said. Selling inventory in advance helps an airline generate working capital. This is the second time in .
Sensex, Nifty rally on robust GDP data, rupee recovery
The BSE Sensex rallied nearly 300 points in early session Monday on fresh buying in IT, teck and capital goods counters following robust GDP growth rate for the April-June quarter of fiscal and recovery in rupee. The 30-share index rebounded by 289.28 points, or 0.74 per cent, to quote at 38,934.35. The benchmark bourse, however, pared some gains within the first hour of the session, and was trading 153.03 points, or 0.40 per cent, higher at 38,798.10 at 1000 hrs. The gauge had lost 251.56 points in the past three sessions. The NSE Nifty also went past 10,700 rising 71.30 points, or 0.61 per cent, to 11,751.80. Official data released after market hours Friday showed India's economy grew at two-year high of 8.2 per cent in the April-June quarter of 2018-19 on strong performance of manufacturing and agriculture sectors, increasing its lead over China to remain the world's fastest growing major economy. The rupee's recovery from its record low against the dollar and fresh buying by ...
Ashok Leyland rises after good monthly sales
Ashok Leyland rose 3.68% to Rs 134 at 9:31 IST on BSE after total sales rose 27% to 17,386 units in August 2018 over August 2017.