Page 2673 - Business Finance
MCX gains as MCXCCL to commence operations
Multi Commodity Exchange of India rose 0.62% to Rs 829.35 at 11:45 IST on BSE after the company announced that its subsidiary Multi Commodity Exchange Clearing Corporation will commence operations from 3 September 2018.
Jai Corp Ltd leads gainers in 'A' group
Welspun India Ltd, Reliance Naval & Engineering Ltd, Abbott India Ltd and Jyothy Laboratories Ltd are among the other gainers in the BSE's 'A' group today, 31 August 2018.
Coca-Cola expands into coffee with $5.1 billion deal for Britain's Costa
(Reuters) - Coca-Cola Co has agreed to buy the world's second largest coffee chain Costa from Britain's Whitbread Plc for an enterprise value of 3.9 billion pounds ($5.1 billion), opening a new front in its push away from traditional sodas.
Coca-Cola buys coffee chain Costa for 3.9 bn pounds
Coca-Cola today said it had agreed to buy global coffee chain Costa from its owner Whitbread for 3.9 billion pounds ($5.1 billion). "Hot beverages is one of the few remaining segments of the total beverage landscape where Coca-Cola does not have a global brand. Costa gives us access to this market through a strong coffee platform," Coca-Cola chief executive James Quincey said in a joint statement.
Britain's Whitbread to sell Costa Coffee to Coke for $5.1 billion
(Reuters) - Britain's Whitbread Plc said on Friday it had agreed to sell coffee chain Costa to Coca Cola for an enterprise value of 3.9 billion pounds ($5.1 billion).
Sensex 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.
Surprise China factory pick-up may not last as export orders shrink again
BEIJING (Reuters) - Growth in China's manufacturing sector unexpectedly picked up in August after a two-month slide, offering some cushion for the slowing economy as the United States rapidly ratchets up tariffs on Chinese goods.
Nifty, Sensex slip on global trade worries; rupee hits fresh low
(Reuters) - Indian shares slipped on Friday tracking muted global sentiment after a report that U.S. President Donald Trump was preparing to impose more tariffs on China and as losses in financials offset gains in technology and healthcare stocks.
Panasonic to move its European headquarters out of UK
Japanese technology company Panasonic will move its European headquarters outside of the United Kingdom on October 1, before the country leaves the European Union, a move known as brexit, in 2019, a spokeswoman for the conglomerate said on Friday.
Sensex, Nifty hit fresh intraday low
Key indices extended losses and hit fresh intraday low in mid-morning trade. At 11:21 IST, the barometer index, the S&P BSE Sensex, was down 116.05 points or 0.30% at 38,574.05. The Nifty 50 index was down 25.10 points or 0.21% at 11,651.70. Negative global cues spoiled investors sentiment.
Jeera futures fall Rs 240 per quintal on profit-booking
Jeera prices fell Rs 240 to quote at Rs 19,100 per quintal in futures trading today as speculators trimmed positions to book profits at prevailing levels amid lower domestic and exports demand at the spot market. Furthermore, ample stocks position following higher supplies from the producing belts, fuelled the downtrend. At the National Commodity and Derivatives Exchange, jeera for delivery in September fell Rs 240, or 1.24 per cent, to trade at Rs 19,100 per quintal, with an open interest of 5,466 lots. Similarly, the spice for delivery in far-month October moved down by Rs 175, or 0.89 per cent, to quote at Rs 19,465 per quintal in 3,318 lots. Analysts said besides profit-booking by speculators at existing levels, a fall in demand at the spot market against adequate stocks position, kept pressure on jeera futures.
Mentha oil futures gain 1.55% on spot demand
Mentha oil prices up 1.55 per cent to Rs 1,749 per kg in futures market today as participants increased their bets amid rise in demand from consuming industries at the spot markets. Besides, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported the upside in mentha oil prices. At the Multi Commodity Exchange, mentha oil for delivery in the current month's was higher by Rs 26.80, or 1.55 per cent, at Rs 1,749 per kg with a business volume of 60 lots. The oil for September was also up by Rs 15.40, or 0.87 per cent, to Rs 1,781 per kg with a trading volume of 360 lots. Marketmen said widening of positions by traders following pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Sensex falls over 100 pts on weak rupee, negative global cues
The BSE Sensex pared its early gains to fall over 100 points in late morning deals, on selling in metal, energy, capital goods, banks, financials and realty sectors amid weakness rupee as well as negative Asian cues. Caution also crept ahead of the release of the gross domestic product (GDP) data for the June quarter today. Earlier, the Sensex surged nearly 150 points on buying in healthcare, IT, teck, power, capital goods, consumer durables, utilities, FMCG, industrial and FMCG sectors. The 30-share index is trading at 38,638.63, showing a loss of 51.47 points, or 0.13 per cent at 1100 hrs. The broader Nifty50 index was also trading marginally lower at 11,670.00, down 6.80 points, or 0.06 per cent. Major losers were Yes Bank, Reliance Industries, Vedanta, ICICI Bank and M&M falling up to 6 per cent. Gainers include, PowerGrid, Sun Pharma, Infosys and Wipro, rising up to 2 per cent. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 958.01 crore on net ..
India's economy likely grew 7.6 percent year-on-year in April-June quarter
NEW DELHI (Reuters) - India's economy likely sustained strong growth momentum for a second straight quarter in April-June, but the depreciating rupee and monetary tightening pose risks for coming periods.
Refined soya oil gains 0.14% as demand picks up
Refined soya oil prices went up by 0.14 per cent to Rs 734.90 per 10 kg in futures trade today as speculators built up fresh positions, taking positive cues from spot markets on firm demand. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October rose by Rs 1.05, or 0.14 per cent to Rs 734.90 per 10 kg with an open interest of 22,490 lots. Likewise, the oil for delivery in September edged up by 85 paise, or 0.12 per cent to Rs 733 per 10 kg in 38,220 lots. Analysts said fresh positions created by traders on the back of rise in demand in the spot market against restricted arrivals from producing belts attributed to the rise in refined soya oil prices in futures trade.
Robust demand lifts zinc futures by 1 pc
Zinc prices hardened by 1.09 per cent to Rs 176.90 per kg in the futures market today as participants built up fresh positions, taking positive cues from spot market. At the Multi Commodity Exchange, zinc for delivery in August rose by Rs 1.90, or 1.09 per cent to Rs 176.90 per kg in business turnover of 1,112 lots. In a similar fashion, the metal for delivery in September gained Rs 1.80, or 1.02 per cent to Rs 177.75 per kg in 634 lots. Analysts said fresh positions created by traders amid upsurge in demand from consuming industries in the physical markets led to a rise in zinc prices at futures trade.
Wheat futures up 0.50% on speculative buying
Wheat prices went up by 0.50 per cent to Rs 2,000 per quintal in futures market today as speculators built up fresh positions. At the National Commodity and Derivatives Exchange, wheat for delivery in October moved up by Rs 10, or 0.50 per cent to Rs 2,000 per quintal with an open interest of 590 lots. Analysts said fresh positions created by traders after the uptick in demand in the physical market and a pause in arrivals from producing belts influenced wheat prices in futures trade.
Nickel futures rise 0.22% on strong spot demand
Amid pick-up in demand at the domestic spot market, nickel prices edged up by 0.22 per cent to Rs 946.10 per kg in futures trade today as participants built up fresh positions. At the Multi Commodity Exchange, nickel for delivery in September rose by Rs 2.10, or 0.22 per cent to Rs 946.10 per kg in business turnover of 996 lots. On similar lines, the metal for delivery in August was up by Rs 1.90, or 0.20 per cent to Rs 940.30 per kg in 1,689 lots. Analysts attributed the rise in nickel futures to a fresh positions built up by traders after an uptick in demand from alloy-makers at domestic spot market.
Spot demand lifts lead futures by 0.93%
Lead prices moved up by 0.93 per cent to Rs 147.20 per kg in futures trading today as speculators raised their bets, driven by uptick in demand at the spot markets. At the Multi Commodity Exchange, lead for delivery in August went up by Rs 1.35, or 0.93 per cent to Rs 147.20 per kg in business turnover of 381 lots. Similarly, the metal for delivery in September was trading higher by Rs 1.35, or 0.92 per cent to Rs 148.50 per kg in 260 lots. Analysts said widening of positions by traders due to upsurge in demand from battery markers in the physical market, mainly attributed the rise in lead prices at futures trade.
Aluminium futures edge up by 0.33% on positive spot cues
Aluminium prices traded marginally higher by 33 per cent to Rs 150.40 per kg in futures trade today as speculators built up fresh positions following uptick in demand at the spot markets. At the Multi Commodity Exchange, aluminium for delivery in August inched up by 50 paise, or 0.33 per cent to Rs 150.40 per kg in business turnover of 169 lots. On similar lines, the metal for delivery in September traded higher by 40 paise, or 0.26 per cent to Rs 151.60 per kg in 132 lots. Analysts said fresh positions created by participants due to improved demand from consuming industries in the physical market led to rise in aluminium prices at futures trade.