Page 2672 - Business Finance
Playtoome receives Rs. 2 Cr from Venture Catalysts
Venture Catalysts, India's integrated incubator has announced investment worth Rs. 2 crore into Playtoome, a live entertainment destination, via Pre-Series A investment.Led by VCats angels, the funding round saw participation by Arihant Patni, serial entrepreneur Bhaskar Raju Konduru, Founding member of Red Bus & current CTO at Housejoy, Goverdhan Singh Jamwal, Chairman Kunwar Viyogi Memorial Trust, philanthropist and art and culture activist, Akhileshwaran Krishnan-Group CFO at Apollo Hospitals.The platform had earlier raised a seed round of funding of Rs. 1.5 crores from an Angel Investment firm Newport Holdings LLP, founded by Rangarajan Narayanan (Co- Founder EXILANT Technologies) and from HNIs including Ex Global commodity financial services leader Ramesh Sundaresan at OLAM international, and Deb Dasgupta, Global Alliance Director at Red Hat New York.Playtoome allows users to connect with their favourite stars and watch them perform LIVE - all from the comfort of their own ...
Japan says financial dialogue with China 'extremely good'
BEIJING (Reuters) - Japanese Finance Minister Taro Aso said on Friday that the current round of financial dialogue with China was "extremely good", and that both sides agreed to maintain cooperation in macro-economic policies and measures.
Castor seed futures surge by Rs 23 per quintal
Castor seed prices rose by Rs 23 to Rs 4,710 per quintal in futures trade today as traders were collecting holdings on the back of rising prices at the spot markets. Marketmen said following the higher physical markets stance, traders went for long positions, which resulted in a upmove in castor seed futures prices. At the spot markets, brisk demand from paint, soap and lubricant industries amid thin supplies from producing regions, drove the prices upside, they added. At the National Commodity and Derivatives Exchange counter, rates for October spurted by Rs 23 or 0.49 per cent to Rs 4,710 per quintal, with the business turnover in 83,370 open interest lots. In a similar manner, the delivery of the first contract September advanced by Rs 21 or 0.46 per cent to Rs 4,634 per quintal, open interest stood of 73,080 lots.
Smartworks opens second center in Chennai
India's largest provider of managed workspaces, Smartworks has announced its second facility in the city of Chennai."We are excited to launch Smartworks' second facility in Chennai, a city that is continuously witnessing a rise in demand for office spaces which indicates a healthy and thriving culture in the city. This is a huge accomplishment for us. Chennai is fast emerging as a destination for information technology, outsourcing, manufacturing and enterprises that has led to entry of global firms here," said founder Smartworks, Neetish Sarda.Adding to this he said that the facility in OMR complements our already functional Smartworks facility in Guindy was booked out 100 percent within two months of its launch which has led to the opening of this new facility in OMR."Smartworks aspires to be the preferred partner of choice for businesses here that wish to create productive, innovative and dynamic workplaces for their employees. We are bullish on the sector we operate in and see ...
Guar seed futures jump Rs 86.50/quintal
Tracking a strong trend at the physical markets, guar seed prices shot up by Rs 86.50 to Rs 4,386.50 per quintal today as traders raised their bets. At the National Commodity and Derivatives Exchange, guar seed, contract for delivery in November hardened by Rs 86.50 or 2.01 per cent to Rs 4,386.50 per quintal, with an open interest of 10,030 lots. Similarly, the delivery for the most-traded in October rallied by Rs 78 or 1.83 per cent to Rs 4,344 per quintal, having an open interest of 1,11,440 lots. Marketmen attributed a significant rise in guar seed prices at futures trade to widening of positions by participants, taking positive cues from the spot markets where prices surged on halt in supplies from growing belts amid strong demand from guar gum making units.
Guar gum climbs Rs 206/quintal on export demand,weak rupee
Guar gum prices bounced by Rs 206 to Rs 9,385 per quintal in futures trade today after investors created huge positions, spurred by strong export demand and rising prices in the spot markets amid the rupee plunging to 71-mark to the dollar. Marketmen said long positions built up by participants following strong export demand, triggered by weakening rupee against the dollar, lifted guar gum prices notably higher. Besides, a firm trend at the physical markets due to pause in supplies of guar seed also boosted sentiments, they added. The rupee today slumped to a lifetime low of 71 mark against the dollar on heavy month-end dollar demand from importers and bank, as well as surging crude oil prices globally. At the National Commodity and Derivatives Exchange, guar gum for the most-traded, delivered in October shot up by Rs 206 or 2.24 per cent to Rs 9,385 per quintal, having the business turnover of 60,040 open interest lots. Guar gum for delivery in far-month November also spurted by Rs
Yes Bank shares continue to fall; plunge 7%
Shares of Yes Bank continued to fall for the fourth straight session today, plunging 7 per cent. The stock dived 6.6 per cent to Rs 338 on BSE. At NSE, shares of the company tumbled 7 per cent to Rs 336.25. The stock was the biggest loser among the blue-chips on both the key indices during the morning trade. In four trading sessions, the stock has lost nearly 12 per cent. Yes Bank yesterday said it has received RBI's approval for continuance of Rana Kapoor as MD and CEO of the company till further notice from the central bank. In June this year, Yes Bank's shareholders had approved the re-appointment of Kapoor as CEO and MD for three years, subject to final approval from the Reserve Bank. "We wish to inform you that the bank has received RBI's approval that Rana Kapoor may continue as Managing Director & CEO of YES Bank till further notice from RBI," the bank said in a regulatory filing.
Sun Pharmaceuticals Industries Ltd gains for third straight session
The stock is quoting at Rs 653.15, up 2.06% on the day as on 12:49 IST on the NSE. Sun Pharmaceuticals Industries Ltd is up 34.34% in last one year as compared to a 16.83% jump in NIFTY and a 14.11% jump in the Nifty Pharma index.
Wipro Ltd up for third consecutive session
The stock is quoting at Rs 304.95, up 2.01% on the day as on 12:49 IST on the NSE. Wipro Ltd is up 2.87% in last one year as compared to a 16.83% jump in NIFTY and a 49.85% jump in the Nifty IT index.
KPIT Technologies Ltd soars 1.82%, gains for fifth straight session
The stock is quoting at Rs 301.8, up 1.82% on the day as on 12:44 IST on the NSE. KPIT Technologies Ltd is up 152.76% in last one year as compared to a 16.84% jump in NIFTY and a 49.85% jump in the Nifty IT.
Bharat Forge Ltd soars 1.61%, rises for fifth straight session
The stock is quoting at Rs 679.8, up 1.61% on the day as on 12:44 IST on the NSE. Bharat Forge Ltd is up 20% in last one year as compared to a 16.84% spurt in NIFTY and a 1.41% spurt in the Nifty Auto.
Gold rises, but set for longest monthly losing streak in 5-1/2 years
BENGALURU (Reuters) - Gold rose on Friday as investors hedged against risks stemming from the ongoing trade dispute, with $1,200 acting as a strong support, but the bullion was headed for its longest monthly losing streak since 2013.
Sadbhav Engineering bags Rs 1,620 cr order from Maharashtra State Road Development Corp
Sadbhav Engineering today said it has received letter of acceptance (LOA) from the Maharashtra State Road Development Corporation for road project worth Rs 1,620 crore. The order is for construction of access controlled Nagpur-Mumbai Super Communication Expressway (Maharastra Samruddhi Mahamarg) in Maharashtra in district Washim. "The company has received Letter of Acceptance (LOA) from Maharashtra State Road Development Corpn. Ltd. (A Government of Maharashtra Undertaking) for the road project/work for a negotiated contract value of Rs 1,620 crore," Sadbhav Engineering said in a BSE filing. In a separate filing, the company said it has also been declared the successful bidder (Ll) for other road and irrigation projects worth Rs 1,299.98 crore. Shares of the company were trading 0.30 per cent lower at Rs 280.25 apiece on the BSE.
Oil dips as trade wars weigh, but looming Iran sanctions prevent bigger fall
SINGAPORE (Reuters) - Oil prices dipped on Friday on concerns that the trade war between the United States and China could intensify, although looming U.S. sanctions against Iran's oil exports and falling Venezuelan output prevented bigger falls.
Chana futures extend fall on tepid demand
Chana prices fell 0.87 per cent to Rs 3,971 per quintal in futures trade today as participants indulged in trimming bets amid subdued demand at the spot market against adequate stocks. Moreover, forecast of higher production of kharif pulses amid scattered buying by millers in local wholesale market also put pressure on chana prices. Analysts said besides profit-booking by participants at existing level, higher output forecast and decline in demand in the physical market weighed on chana futures. At the National Commodity and Derivatives Exchange, chana for delivery in October contract fell by Rs 35, or 0.87 per cent, to Rs 3,971 per quintal with an open interest of 38,550 lots. Similarly, the commodity for delivery in September drifted lower by Rs 33, or 0.84 per cent, to Rs 3,858 per quintal. The open interest of the contract stood at 53,760 lots.
Global Markets: Asian stocks bruised on Trump's fresh trade war threats
TOKYO (Reuters) - Asian shares came under renewed pressure on Friday as a report U.S. President Donald Trump was preparing to step up a trade war with Beijing sent Chinese stocks lower and partially erased gains made in this week's global rally.
Most telecom shares decline
Key benchmarks came off day's low and were trading with small losses in early afternoon trade. At 12:19 IST, the barometer index, the S&P BSE Sensex, was down 79.85 points or 0.21% at 38,610.25. The Nifty 50 index was down 20.95 points or 0.18% at 11,655.85. Negative global cues spoiled investors sentiment.
Brooks Laboratories Ltd leads gainers in 'B' group
Century Extrusions Ltd, Maan Aluminium Ltd, Country Club Hospitality & Holidays Ltd and Jaiprakash Power Ventures Ltd are among the other gainers in the BSE's 'B' group today, 31 August 2018.
Vodafone completes merger with Idea, creates India's largest mobile operator
The merger of Idea Cellular and Vodafone India has been completed, creating India's biggest telecom service provider with over 408 million subscribers, the two companies said today. A new board has been constituted for the merged entity "Vodafone Idea Ltd' with 12 directors (including six independent directors) and Kumar Mangalam Birla as its Chairman. The board has appointed Balesh Sharma as the CEO, the companies said in a joint statement. The combination will have all India revenue market share of 32.2 per cent and take the numero uno slot in nine telecom circles, it said adding that both Vodafone and Idea brands will continue. The telecom giant will topple Bharti Airtel from its current pole position, and will have the firepower to take on competition in the Indian telecom market, which has intensified with the aggressive entry of Reliance Jio. It will have a broadband network of 3.4 lakh sites and distribution network with 17 lakh retail outlets. "The merger is expected to ...
Cardamom futures up 1.39 pc as participants widen positions
Cardamom prices rose 1.39 per cent to Rs 1,349.50 per kg in futures trade today as participants created huge speculative positions amid pick-up in domestic demand. Furthermore, fall in arrivals from Kerala due to floods in several districts including largest cardamom growing-Idukki amid export demand lifted the cardamom prices in future trade here. At the Multi Commodity Exchange, cardamom for delivery in October was trading higher by Rs 18.60, or 1.39 per cent, to Rs 1,349.50 per kg in a business turnover of 8 lots. The spice for delivery in September traded higher by Rs 3.70, or 0.28 per cent, to Rs 1,348.20 per kg with trading volume of just one lot. Analysts said speculative positions built up by traders on the back of pick-up in export and domestic demand against restricted arrivals, pushed up cardamom prices.