Page 2674 - Business Finance
HC finds pharma co guilty in infringement case, asks it to give Rs 1.50 cr for Kerala flood relief
The Bombay High Court has ordered a pharmaceutical company to deposit Rs 1.50 crore towards the Kerala Chief Minister's Fund for flood relief work in a trademark infringement case. Justice S J Kathawalla on August 28 held that Galpha Laboratories was a "habitual infringer" of various medicinal products, whose trademarks have been registered by other pharma companies. The court was hearing a suit filed by Glenmark Pharmaceuticals against Galpha Laboratories for allegedly infringing upon its medicinal cream products. According to Glenmark, the defendant companies were selling a cream 'Clodid B' with the same design and pattern as that of Glenmark's 'Candid B' cream. The court accepted the arguments and noted that there has been a systematic copy of Glenmark Pharmaceutical's products. "Drugs are not sweets. Pharmaceutical companies which provide medicines for health of the consumers have a special duty of care towards them," Justice Kathawalla said in his order. "These companies, in ...
Crude oil futures down 0.12% on weak global trend
Crude oil futures eased by 0.12 per cent to Rs 4,985 a barrel today as speculators booked profits after recent gains amid a weakening trend overseas. At the Multi Commodity Exchange, crude oil for delivery in October month traded at Rs 6, or 0.12 per cent lower, at Rs 4,985 a barrel in 24 lots. Oil for September delivery also moved down by Rs 2, or 0.04 per cent, to trade at Rs 4,997 per barrel in 2,107 lots. Analysts attributed the fall to a weak trend in overseas markets and profit-booking by speculators after recent gains. Meanwhile, Brent crude, used to price international oils, shed 1 cent, to USD 78.01 a barrel, while West Texas Intermediate (WTI) crude was up 5 cents, or 0.07 per cent at USD 70.30 on the New York Mercantile Exchange.
PNC Infratech jumps after order win
PNC Infratech surged 5.88% to Rs 169.35 at 10:48 IST on BSE after the company received Letter of Acceptance for Package 4 of Nagpur-Mumbai Super Communication Expressway.
Volumes jump at Mahindra Lifespace Developers Ltd counter
Mahindra Lifespace Developers Ltd saw volume of 1.83 lakh shares by 10:46 IST on BSE, a 65.87 fold spurt over two-week average daily volume of 2777 shares
Silver up Rs 122 a kg in futures trade on global cues
Tracking a firm trend in the precious metals overseas, silver prices soared by Rs 122 to Rs 36,983 per kg in futures trade today as speculators widened their bets. In futures trading at the Multi Commodity Exchange, silver for delivery in September shot up by Rs 122 or 0.33 per cent to Rs 39,683 per kg in a business turnover of 285 lots. The white metal for delivery in far-month December was trading higher by Rs 118 or 0.31 per cent to Rs 37,807 per kg in 184 lots. Market analysts said speculative position created by participants, driven by firm global trend, mainly supported the upside in silver futures prices here. Globally, silver rose 0.38 per cent to USD 14.57 an ounce in Singapore today.
NCLT nod to Vodafone-Idea merger: Source
The mega merger of Vodafone India and Idea Cellular has been cleared by NCLT, paving the way for creation of India's largest telecom operator worth over USD 23 billion with a 35 per cent market share. The telecom juggernaut -- Vodafone Idea Ltd -- will dislodge the current market leader Bharti Airtel from the pole position, by its sheer size and scale. The combined entity of Vodafone and Idea Cellular will have nearly 443 million customers surpassing Bharti Airtel's 344 million users. The National Company Law Tribunal (NCLT) clearance is through, and a joint statement is expected to be issued in the next few hours, a source privy to the development said. On July 26, the government had approved the merger of Vodafone India and Idea after the two firms provided for Rs 7,248.78 crore as one-time spectrum charge (OTSC). Kumar Mangalam Birla will be the non-executive Chairman and Balesh Sharma the new CEO of the merged entity, which would remain listed. Telecom Secretary Aruna Sundararajan
Gold futures up Rs 111 on global cues
Gold prices were higher by Rs 111 to Rs 30,281 per 10 grams in futures trade today as speculators widened their positions on positive cues from global markets. At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 111, or 0.37 per cent, at Rs 30,281 per 10 grams, in a business turnover of 297 lots. The metal for delivery in far-month December, too, rose by Rs 91, or 0.30 per cent, at Rs 30,488 per 10 grams, in a turnover of 14 lots. Analysts said raising of bets by participants, tracking a firming trend in global market, influenced the gold prices in futures trade. Globally, gold rose 0.37 per cent at USD 1,204 an ounce in Singapore today.
Oil stable as Iran sanctions loom, but trade wars weigh
SINGAPORE (Reuters) - Oil markets held steady on Friday, supported by looming U.S. sanctions against Iran's oil exports and falling Venezuelan output, but held back by concerns the trade war between the United States and China could intensify.
Idea Cellular completes merger with Vodafone India
(Reuters) - India's Idea Cellular Ltd said on Friday it completed its merger with Vodafone India Ltd and Vodafone Mobile Services Ltd after getting approval from the National Company Law Tribunal. https://reut.rs/2PQtfo9
Trading turns volatile
A bout of volatility was witnessed as key benchmark indices came off day's high and were trading near flat line in morning trade. At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 13.28 points or 0.03% at 38,676.82. The Nifty 50 index was up 3.70 points or 0.03% at 11,680.50. Negative global cues spoiled investors sentiment.
Idea Cellular allots 389.39 crore equity shares
Pursuant to Scheme of amalgamation and arrangement
Torrent Pharmaceuticals announces change in CFO
With effect from 01 September 2018
Hong Kong Market falls on renewed China trade concerns
China kept its tariff dispute with the United States infocus as its commerce ministry insisted negotiations must be based on "equality," with Washington's proposed tariffs on an additional $200 billion worth of Chinese goods, which will come into effect next month after a public comment period ends on Wednesday, Sept. 5.
US stocks snap four day winning streak
Trade war jitters worry investors
Japan Stocks mixed
Japan's factory output dropped marginally in July, marking the third successive month of decline, due to slowing exports of cars and steel and flooding that disrupted production, compounded by global trade tensions that cloud the export-reliant economy's outlook.
Australia Market falls 0.3%
China kept its tariff dispute with the United States infocus as its commerce ministry insisted negotiations must be based on "equality," with Washington's proposed tariffs on an additional $200 billion worth of Chinese goods, which will come into effect next month after a public comment period ends on Wednesday, Sept. 5.
Rupee slides further; hits fresh low of 71
The Indian rupee plunged to a fresh record low of just over 71 to a US dollar during the morning trade session on Friday.
Hong Kong home prices hit another record but seen cooling as rates rise
HONG KONG (Reuters) - Hong Kong private home prices rose to another record in July, government data showed on Friday, but the prospect of rising interest rates was expected to cool one of the world's hottest property markets.
Gold prices edge up, but still set for longest monthly losing streak since 2013
BENGALURU (Reuters) - Gold prices inched up on Friday but remained on course to rack up their longest monthly losing streak since 2013, hit by worries over lingering U.S.-Sino trade tensions.
Key equity indices open in green
The key Indian equity indices opened on a positive note on Friday after declining for the last two trading sessions.