Page 2671 - Business Finance
Vodafone-Idea merger complete, becomes operational
The merger of Vodafone India and Idea Cellular is complete after the National Company Law Tribunal (NCLT) approved the merger, creating India's largest telecom operator with over 400 million subscribers, a joint statement by the two companies said on Friday.
Jowar falls on reduced offtake
Jowar prices came down by Rs 100 per quintal at the wholesale grains market today after consuming industries slowed down their buying activity against sufficient stocks position. However, other grains including wheat and rice basmati held steady on scattered demand. Traders said besides easing demand from consuming industries, adequate stocks position, mainly weighed on jowar prices. In the national capital, jowar yellow and white fell by Rs 100 each to Rs 1,700-1,750 and Rs 2,900-2,950 per quintal, respectively. Following are today's quotations (in Rs per quintal): Wheat MP (desi) Rs 2,320-2,420, Wheat dara (for mills) Rs 1,970-1,975, Atta Chakki (delivery) Rs 1,980-1,985, Atta Rajdhani (10 kg) Rs 250-280, Shakti Bhog (10 kg) Rs 275-310, Roller flour mill Rs 1,070-1,090 (50 kg), Maida Rs 1,170-1,180 (50 kg) and Sooji Rs 1,200-1,210 (50 kg). Basmati rice (Lal Quila) Rs 10,700, Shri Lal Mahal Rs 11,300, Super Basmati rice Rs 9,900, Basmati common new Rs 7,600-7,700, Rice Pusa (1121) Rs
Indian stocks set for new highs even though rated expensive: Reuters poll
BENGALURU (Reuters) - Indian shares will hit a new record high by year-end despite being rated as expensive, strategists polled by Reuters said, citing high oil prices and election uncertainty as the biggest downside risks to the BSE Sensex.
Idea Cellular, Vodafone complete merger of India businesses
(Reuters) - Idea Cellular Ltd and Vodafone Plc completed the merger of their India operations on Friday, creating the country's largest telecom operator by subscribers and revenue after the entry of a new player sparked a bitter price war.
Coca Cola to buy coffee chain Costa for $5.1 bn
The Coca Cola Company on Friday said it will buy British coffee shop chain Costa for $5.1 billion, diversifying further from its soft drink roots, according to a Dow Jones report.
World shares fall for second day as Trump makes fresh trade threats
LONDON (Reuters) - Global stocks fell for a second day on Friday as a report that U.S. President Donald Trump was preparing to step up a trade war with Beijing dampened risk appetite and erased some of the gains made in a rally this week.
PM to launch India Post Payments Bank on Sept 1
Prime Minister Narendra Modi will tomorrow launch the India Post Payments Bank (IPPB) that seeks to leverage the expansive network of the postal department to ensure financial inclusion for the masses. The event is scheduled to be held at Talkatora Stadium in New Delhi, along with simultaneous launch events at 650 branches and 3,250 access points that will go live tomorrow, an official statement said. "IPPB has been envisioned as an accessible, affordable and trusted bank for the common man, to help speedily achieve the financial inclusion objectives of the Union Government," it added. The payments bank, where the Indian government holds 100 per cent equity, will leverage the vast network of the Department of Posts (DoP) that has more than three lakh postmen and Grameen Dak Sewaks. All the 1.55 lakh post offices in the country will be linked to the IPPB system by December 31, 2018. IPPB will, hence, significantly augment the reach of the banking sector in India, the statement ...
BSE looks to prevent trade reversals in all equity derivative contracts from Monday
To ensure safety of the securities markets, top stock exchange BSE has decided to introduce the mechanism to automatically cancel reversal trades executed on all contracts in equity derivatives segment from Monday. The mechanism, Reversal Trade Prevention Check (RTPC), is aimed at preventing potential cases of trade reversal taking place on the exchange's trading platform which may have been undertaken for the purposes of tax evasion. It will act as a preventive measure wherein the second leg of a potential reversal trade will be automatically cancelled by trading system at the time of order matching in an online real-time manner. In a circular BSE said, "With effect from September 3, 2018, the RTPC shall be made applicable on all contracts available for trading in the equity derivatives segment except for futures contracts on stocks and S&P BSE Sensex for all market participants". Earlier in March 2016, the exchange had introduced RTPC on select set of contracts in equity ...
K E C International bags orders worth Rs 1010 crore
Transmission & Distribution: The T&D business has secured turnkey orders of Rs. 491 crore across India, Middle East and The Americas:
Corrected: Idea Cellular, Vodafone complete merger of India businesses
(Reuters) - Idea Cellular Ltd and Vodafone Plc completed the merger of their India operations on Friday, creating the country's largest telecom operator by subscribers and revenue after the entry of a new player sparked a bitter price war.
Exclusive: SAIL declines dividend to government, cites financial covenant risk
NEW DELHI (Reuters) - State-owned Steel Authority of India Ltd (SAIL) has declined a government call for a dividend this year, saying it did not have "any cash and bank balance" and that its debt-to-income ratio was much higher than agreed with some lenders, showed an internal company document reviewed by Reuters.
Sumadhura Group to invest Rs 500 cr to develop commercial project in Bengaluru
With demand for quality office space rising, Bengaluru-based realty firm Sumadhura Group today said it will invest about Rs 500 crore over the next three years to develop a commercial complex with a leasable area of one million sq ft. The group, which has developed about 30 projects in Hyderabad and Bengaluru over the last 16 years, has bought 8 acre land parcel in Whitefield from Alembic group for this project, its Chairman and MD Madhusudhan G said. "There is a great demand for Grade-A office space. We want to focus on creating commercial assets for rental income. We did a small commercial complex in Hyderabad long back. Now, we are entering into commercial real estate in a big way," he told PTI. Sumadhura Group will develop a commercial complex at Whitefield comprising 1.5 million sq ft of built-up area and one million sq ft of leasable area. Asked about the investment, Madhusudhan said the project cost would be around Rs 500 crore, including land and construction cost. The ...
Positive market breadth
Weakness persisted on the bourses in afternoon trade. At 13:25 IST, the barometer index, the S&P BSE Sensex, was down 76.81 points or 0.2% at 38,613.29. The Nifty 50 index was down 18.20 points or 0.16% at 11,658.60. Negative global cues spoiled investors sentiment.
A2Z Infra Engineering's subsidiary wins contract worth Rs 67.80 cr
From Central Railways, Pune Division
D B Corp Ltd down for fifth straight session
The stock is quoting at Rs 224.4, down 0.18% on the day as on 13:19 IST on the NSE. D B Corp Ltd gained for a third straight session today in last one year as compared to a 16.9% down 0.24%. in NIFTY and a 6.39% up 34.34% in the Nifty Media index.
Trump ready to ratchet up China trade war with more tariffs: report
WASHINGTON (Reuters) - U.S. President Donald Trump is prepared to quickly ramp up a trade war with China and has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week, Bloomberg News reported on Thursday.
Equity indices in red on record-low rupee, weak global cues
The key Indian equity indices ceded all their gains made earlier in the day to trade in the negative territory during the afternoon session on Friday as the rupee plunged further, along a with decline in the global indices.
Bank branches to function normally next week; no need for panic: FinMin
Dismissing rumours, the government today said bank branches would remain open next week and there was no need for panic. It has come to notice that a rumour is circulating in several sections of social media that banks will be closed for 6 days in the first week of September 2018, causing undue panic among the general public, Finance Ministry said in a statement said. "It is hereby clarified that banks will remain open and banking activity will continue unimpeded in the first week of September. Banks will only observe holidays on Sunday, September 2, and second Saturday, September 8," it said. Coming Monday, September 3 is not a pan-India holiday and banks only in some states where a holiday is declared under the Negotiable Instruments Act, 1881, will remain closed, it said. Even on those days, it said, ATMs in all states will be fully functional and there will be no impact on online banking transactions. Banks have been advised to ensure that sufficient cash is available for ...
Board of J B Chemicals & Pharmaceuticals approves buyback of share up to Rs 130 cr
At meeting held on 31 August 2018