Page 2686 - Business Finance
BSE to launch F&O contracts on Bharat-22 index from Sept 3
Leading stock exchange BSE will introduce futures and options (F&O)contracts on Bharat-22 index from September 3. Bharat-22 index, comprising shares of 22 companies, is a blend of shares of key central public sector enterprises (CPSEs), public sector banks (PSBs) and blue chip private companies like Larsen & Toubro (L&T), Axis Bank and ITC. The other companies part of the index are -- ONGC, IOC, SBI, BPCL, Coal India, Nalco, Bharat Electronics, REC, Power Finance Corp, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, Power Grid Corporation, NLC India, Indian Bank and Bank of Baroda. "The exchange shall introduce futures and options contracts on S&P BSE Bharat-22 Index in equity derivatives segment with effect from September 3, 2018," BSE said in a circular. At present, there are over 200 securities available in the F&O segment for trade. Recently, several stocks have been added in the segment. Derivative in financial markets typically refers to a forward, future, ...
Lifeasy launches hardware on its platform
Leading full stack on-demand home services provider Lifeasy has announced the addition of 'Buy Hardware' as a new segment in its offerings.An industry first, Lifeasy will offer spare parts, small hardware items required at home or required to deliver the quality services from its platform, eyeing the massive revenue segment, that is largely fragmented and unorganised."We are confident that not only customer satisfaction will increase, but our revenues will also ascend with this initiative," said co-founder Lifeasy, Jeet Narayan Singh.The company technician carries basic spare parts and hardware for jobs booked by customers, making service completion swift and seamless. Customers can also order spare parts and hardware items separately from the Lifeasy mobile application, which will be delivered at the customer doorstep within defined TAT.Lifeasy has a team of technicians employed and trained by Lifeasy that delivers the promise of impeccable service to its customers. The company ...
Horticulture Crop Output Estimated Up 2%
Domestic Horticulture production in the year ended June 2018 is estimated at 306.82 million tonnes (mt), up 2% from the previous year's 300.64 mt, according to the third advance estimates of horticultural production, released by the Agriculture Ministry on Wednesday. The latest projections are slightly lower than the 307.2 mt estimated in the second advance estimates released in May this year. The production of fruits is expected to edge above 97 mt, following an impressive increase in the output of many fruits, particularly mangoes, which registered 9% surge. Production of vegetables, is estimated around 180 mt, marginally up from 2016-17.
Bosch Ltd rises for third straight session
The stock is quoting at Rs 21570, up 7.43% on the day as on 12:49 IST on the NSE. Bosch Ltd is down 1.9% in last one year as compared to a 17.71% jump in NIFTY and a 4.2% jump in the Nifty Auto index.
South Indian Bank Ltd up for fifth session
The stock is quoting at Rs 17.8, up 0.28% on the day as on 12:44 IST on the NSE. South Indian Bank Ltd is down 36.09% in last one year as compared to a 17.72% spurt in NIFTY and a 16.94% spurt in the Nifty Private Bank.
JSW Steel Ltd soars 0.6%, gains for fifth straight session
The stock is quoting at Rs 401.4, up 0.6% on the day as on 12:44 IST on the NSE. JSW Steel Ltd is up 57.78% in last one year as compared to a 17.72% jump in NIFTY and a 5.66% jump in the Nifty Metal.
Tata Steel Ltd spurts 2.1%, up for fifth straight session
The stock is quoting at Rs 606.65, up 2.1% on the day as on 12:44 IST on the NSE. Tata Steel Ltd is down 0.21% in last one year as compared to a 17.72% jump in NIFTY and a 5.66% jump in the Nifty Metal.
Jindal Steel & Power Ltd gains for fifth session
The stock is quoting at Rs 225.8, up 3.79% on the day as on 12:44 IST on the NSE. Jindal Steel & Power Ltd is up 64.7% in last one year as compared to a 17.72% spurt in NIFTY and a 5.66% spurt in the Nifty Metal.
NSE to conduct mock trading session in commodity derivatives segment on Saturday
Preparing itself to launch commodity derivatives trades, the National Stock Exchange (NSE) will conduct mock trading sessions for such products on Saturday. Rival stock exchange BSE had held mock trading in January. "The exchange will conduct mock trading session in the commodity derivatives segment on Saturday, September 1, for members to get familiarised with trading system," NSE said in a circular. The mock trading session would be conducted from 10 am to 1 pm. Earlier this month, NSE chief Vikram Limaye had said that the exchange is in the process of entering into commodities from October 1, when it becomes a universal exchange, offering other products, including agri- and non-agri commodities. On December 28, 2017, markets regulator Sebi had announced that the country would have a unified bourse regime from October 1, wherein stock exchanges would be allowed to offer trading in commodities derivatives.
Soybean futures gain on positive global cues
Soybean prices advanced by Rs 25 to Rs 3,214 per quintal in futures trade today after speculators raised their bets, taking positive leads from global markets. Marketmen said positive trend in global markets, largely supported the upside in soybean prices in futures trade as participants created big positions. At the National Commodity and Derivatives Exchange, soybean for October gained Rs 25, or 0.78 per cent, to Rs 3,214 per quintal, in an open interest of 57,610 lots. Similarly, the delivery for November strengthened by Rs 23, or 0.72 per cent, to Rs 3,225 per quintal, with an open interest of 40,980 lots.
Gold edges down as rate hike views dent appeal
BENGALURU (Reuters) - Gold prices inched lower on Thursday as the dollar firmed amid expectations of higher U.S. interest rates, but the precious metal continued to hold above a key support level of $1,200.
Inside Albemarle's quest to reinvent the lithium market
(Reuters) - As global demand for lithium hits overdrive, Albemarle Corp is investing millions of dollars to engineer specialized types of the light metal for electric car batteries, part of a strategy to remain the niche market's top producer.
China business forum shifts launch to Singapore amid U.S. trade row
SHANGHAI (Reuters) - Organisers of a new business leaders' forum spearheaded by former New York mayor Michael Bloomberg have been forced to move the event to Singapore from Beijing amid growing China-U.S. trade friction and scheduling conflicts with another forum.
Oil prices rise on decline in U.S. fuel inventories, looming Iran sanctions
SINGAPORE (Reuters) - Oil prices rose on Thursday, extending solid gains from the previous session on a fall in U.S. crude inventories and expected disruptions to supply from Iran and Venezuela.
Castor seed futures rise 0.64% on firm spot cues
Castor seed prices inched higher by Rs 30 to Rs 4,690 per quintal in futures trade today as participants built positions, amid firm physical market trend. At the National Commodity and Derivatives Exchange, castor seed for delivery in October contracts moved up by Rs 30, or 0.64 per cent, to Rs 4,690 per quintal with having an open interest of 75,920 lots. Also, the delivery for the September contract hardened by Rs 24, or 0.52 per cent, to Rs 4,620 per quintal, with a business turnover of 85,230 open interest lots. Marketmen said big positions built up by participants amid positive cues from spot markets on pick up in demand from soap and other consuming industries, led to the rise in castor seed prices in futures market here.
Guar gum futures advance on export demand; weak rupee
Guar gum prices advanced by Rs 93 to Rs 9,191 per quintal in futures trade today as operators expanded holdings, tracking upbeat physical leads on the back of strong export demand amid the rupee hitting a record low against the US dollar. Marketmen said a significant rise in export demand from oil drilling industries amid pause in supplies of guar seed at the spot markets from growing belts, influenced guar gum prices at futures trade here. The rupee has plunged to a fresh record low of 70.82 against the dollar in day trade. At the National Commodity and Derivatives Exchange, guar gum delivery for November rose by Rs 93 or 1.02 per cent to Rs 9,191 per quintal, with an open interest of 4,420 lots. Likewise, the most-traded delivery in October contracts moved up by Rs 92 or 1.02 per cent to Rs 9,110 per quintal, having a business turnover in 60,410 open interest lots.
Indian enterprises to spend $1.7 bn on bolstering security in 2018
Increasing security breaches amid skill shortage will push enterprise spending on information security products and services in India to reach $1.7 billion in 2018, Gartner said on Thursday.
Mahindra Logistics to invest up to Rs 7 cr in ShipX
Mahindra Logistics (MLL), a third-party logistics solution provider, today said it will invest up to Rs 7 crore in Transtech Logistics (TLPL), which provides transport management solutions under the brand name 'ShipX'. Under the transaction, MLL will acquire up to 1,15,554 compulsory convertible preference shares and 100 equity shares, MLL said in a regulatory filing. The company would make aggregate investment of up to Rs 7 crore in TLPL through subscription to its shares, it added. The transaction is expected to be completed by August 31, 2020. "The proposed investment in TLPL, which has built a technology platform, is expected to bring operational efficiencies in the supply chain management function of the company," MLL said. It added that the transaction will also provide opportunities to the company to offer technology solutions to its customers and business partners. Also, this is part of the larger end-to-end digitisation plan for MLL. MLL has been a customer to ShipX for over .
Hindusthan National Glass & Industries Ltd leads gainers in 'B' group
Zodiac-JRD-MKJ Ltd, ITI Ltd, Mahanagar Telephone Nigam Ltd and Williamson Magor & Company Ltd are among the other gainers in the BSE's 'B' group today, 30 August 2018.
Positive market breadth
Key equity indices traded mildly lower in early afternoon trade. At 12:18 IST, the barometer index, the S&P BSE Sensex, was down 28.79 points or 0.07% at 38,694.14. The Nifty 50 index was down 16.70 points or 0.14% at 11,675.20.