Page 2662 - Business Finance

Sugar prices close quiet on weak demand

Sugar prices ended steady at the wholesale market in the national capital today due to absence of any worthwhile buying activity. Arrivals and offtake, too, remained at a low ebb and the volume of business was also small. Marketmen said sporadic demand and restricted supplies kept prices unmoved. Following are today's quotations (in Rs per quintal) Sugar retail markets - Rs 35-40 per kg. Sugar ready: M-30 Rs 3,410-3,510, S-30 Rs 3,400-3,500. Mill delivery: M-30 Rs 3,160-3,305, S-30 Rs 3,150-3,295. Sugar millgate (including duty): Mawana Rs 3,245, Kinnoni Rs 3,305, Asmoli Rs 3,270, Dorala Rs 3,245, Budhana Rs 3,215, Thanabhavan Rs 3,205, Dhanora Rs 3,270, Simbholi Rs 3,260, Khatuli Rs 3,300, Dhampur 3,170, Sakoti 3,180, Modinagar 3,190, Shamli 3,175, Malakpur Rs 3,180, Ramala NA (not available), Anupshaher NA, Baghpat NA, Morna NA, Chandpur NA, Nazibabad NA and Nanota NA.

Escorts records 6.3% growth in tractor sales

In August 2018

OLX reports 40% growth as pre-owned phone market thrives in India

With more and more Indians aiming to own high-end smartphones, the pre-owned smartphone market is booming and on the online trading platform OLX, the average selling price (ASP) of a pre-owned smartphone has jumped from Rs 9,000 to Rs 11,000 in just one year, the company said on Saturday.

Mahindra & Mahindra records 14% growth in August sales

The company's domestic sales touched 45,373 vehicles during August 2018, registering a growth of 15%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 19,758 vehicles in August 2018, as against 19,406 vehicles in August 2017.

Bharat Dynamics announces change in directorate

With effect from 31 August 2018

Mahindra sales up 14% at 48,324 units in August

Auto major Mahindra & Mahindra reported Saturday 14 per cent increase in total sales at 48,324 units in August. The company had sold 42,207 units in the same month last year, M&M said in a statement. In the domestic market, sales were at 45,373 units last month, up 15 per cent, as compared to 39,615 units in August 2017. Exports also increased 14 per cent at 2,951 units in August against 2,592 units in the same month last year. Sales of passenger vehicles (which includes UVs, cars and vans) were at 19,758 units, up 2 per cent, as compared to 19,406 units in the same month last year. Commercial vehicle sales were at 20,326 units in August, up 25 per cent, against 16,303 units in the year-ago period, M&M said. M&M President Automotive Sector Rajan Wadhera said, "The auto industry remained subdued in August with low sentiments due to some external factors. Our commercial vehicles portfolio including our trucks and buses continue to post robust growth".

Ashok Leyland sales up 27 pc at 17,386 units in August

Hinduja Group flagship Ashok Leyland today reported a 27 per cent increase in total sales at 17,386 units in August. The company had sold 13,637 units in the same month last year. Sales of medium and heavy commercial vehicles grew by 24 per cent to 13,158 units as against 10,570 in the year-ago month, the company said in a statement. Light commercial vehicle sales rose 38 per cent to 4,228 units compared with 3,067 units in August last year, it added.

Select edible oils see mixed trend this week

The wholesale oils and oilseeds market displayed a mixed trend during the week with select edible oils recovering on fresh buying by Vanaspati millers amid restricted arrivals from producing belts, while a few others remained weak on adequate stocks position. In the non-edible section, castor oil eased on reduced offtake by consuming industries. Marketmen said pick up in offtake by Vanaspati millers, driven by ongoing festive season against restricted supplies from producing regions following firm trend overseas, attributed to the recovery in select edible oil prices. They said, however, groundnut mill delivery and mustard expeller oils weakened on ample stock positions. In the national capital, sesame mill delivery and cottonseed mill delivery (Haryana) oils rose by Rs 100 and Rs 50 to Rs 10,300 and Rs 7750 per quintal, respectively. Palmolein (RBD) and palmolein (Kandla) oils edged up by Rs 50 each to Rs 6,750 and Rs 6,800 per quintal, respectively, on firm global cues. Crude palm ..

Brace for costlier home, auto loans as SBI raises lending rates by 20 bps

SBI) has increased the lending rate by 20 basis points across all tenors up to three years

China's Meituan Dianping sets HK IPO valuation at up to $55 billion: sources

SINGAPORE/HONG KONG (Reuters/IFR) - China's Meituan Dianping, an online food delivery-to-ticketing services platform, has set an indicative price range of HK$60 to HK$72 ($7.64-$9.17) per share for its initial public offering (IPO) in Hong Kong, valuing itself at up to $55 billion, four people with direct knowledge of the matter said.

Maruti Suzuki posts 3.4% decline in August sales

Automobile major Maruti Suzuki India on Saturday reported a 3.4 per cent dip in sales in August as the car maker sold a total of 158,189 units in the month, compared to 163,701 units sold in the year-ago month.

Gujarat govt partners with US advocacy group for 'Vibrant Gujarat' summit

The Gujarat Government has partnered with a top India-centric American advocacy group for the Vibrant Gujarat summit in January 2019, which is expected to be attended by some of the top American corporate leaders. John Chambers, chairman of US-India Strategic and Partnership Forum (USISPF), will lead a high-level CEO delegation to the summit next year, a media release said here on Friday. Ahead of the summit, the USISPF will take out roadshows in the five cities of San Francisco, Houston, Chicago, New York and Washington DC, it said. A senior-level delegation, led by Arvind Agarwal, Additional Chief Secretary, Finance, government of Gujarat, will visit the US in September to engage with a host of businesses, investors, start-ups and incubators, thought leaders and key members of the Indian diaspora, the release said. The USISPF will also host focused roundtables and investment roadshow programmes, among other events, the release said. "Vibrant Gujarat 2019 is focused on 'Ideas for a ..

BOJ's Kuroda: no rate hike 'for an extended time' - paper

TOKYO (Reuters) - The Bank of Japan is unlikely to raise interest rates for "quite some time" and recent steps to make policy more flexible are not preparation for policy normalisation, Governor Haruhiko Kuroda said in an interview published on Saturday.

Board of GCM Commodity & Derivatives appoints directors

With effect from 31 August 2018

Board of L T Foods approves proposed investment of India Agri Business Fund in subsidiary

At meeting held on 31 August 2018

Board of UTL Industries approves change in directorate

On 31 August 2018

Fuel prices hit fresh record high

Fuel prices continued to rise on Saturday, with petrol and diesel prices touching a new record high in several metropolitan cities, including Delhi and Mumbai.The price of petrol has been increased to Rs 78.68 per litre in Delhi, against Rs. 78.52 on Friday, while diesel is being retailed at Rs. 70.42 per litre.In Mumbai, petrol is being sold at Rs 86.09 per litre (increased by Rs 0.16 per litre), while diesel spurted to a new high of Rs. 74.76 per litre (increased by Rs 0.22 per litre).On August 31, the price for petrol was Rs. 78.52 per litre in Delhi and diesel was sold at Rs. 70.21. In Mumbai, petrol was sold at Rs 85.93 per litre and diesel at Rs 74.54 per litre.There has been a surge in fuel prices since August 16 after the rupee hit a record low of 71 against the US dollar.

Oil prices fall as US oil rig count rises

Oil prices retreated on Friday as US energy companies added oil rigs for the first time in three weeks.

S&P 500, Dow lose ground as trade talks hit snag

NEW YORK (Reuters) - The S&P 500 and the Dow were down and the Nasdaq edged higher in light trading on Friday as investors reacted to the possibility that a new Canada-U.S. trade agreement could miss a deadline heading into the Labor Day weekend.

Global Markets: Shares extend fall on Trump trade threats

NEW YORK (Reuters) - Global stocks ended August much as they began the month - under the dark cloud of a potentially worsening trade war.