Page 2706 - Business Finance
Lakshmi Vilas Bank signs corporate agency agreement with HDFC Ergo General Insurance Company
The Insurance Products offered are like Motor, Health, Travel, Home and Personal Accident Insurance in the retail space and customized products like Property, Marine and Liability Insurance in the corporate space.
Diesel prices hit all-time high; petrol Rs 78.05/litre in Delhi
Fuel prices continued to rise on Tuesday, with diesel prices rising to fresh record levels across metros and petrol crossing the Rs 78-per-litre mark in the national capital.
Gold climbs as dollar dips after U.S.-Mexico trade deal
LONDON (Reuters) - Gold edged higher on Tuesday, helped by weakness in the dollar after a trade deal was struck between the United States and Mexico but analysts said ongoing U.S.-China tensions would continue to weigh.
Delhi Metro Dilshad Garden-Ghaziabad service to start in November
Delhi Metro services will start operating between Dilshad Garden in Delhi and New Bus Stand in Ghaziabad in the second week of November.
Trade uptick to help FMCG sector grow 12-13% in 2018 :Nielsen
With trade dynamism triggered by demonetisation and GST roll out almost settling down, the fast moving consumer goods (FMCG) industry is expected to grow at 12-13 per cent in 2018, according to market researcher Nielsen. The industry witnessed 10.9 per cent growth in the second quarter of the calendar year over the previous year on the back of consumer offtake, consumption buoyancy and price benefits passed on to the consumers under GST. "The average price in FMCG is increasing at 2-3 per cent over last few quarters, while consumer price inflation is hovering around 5 per cent,largely because of benefits from GST and the efficiencies being built in system," Nielsen India executive director Sameer Shukla told reporters here. "The other effect of lower price increase would reflect in consumption increase," he added. He added that if the inflation inches up, it may have a deterrent impact on the FMCG industry. FMCG growth stood at 11.6 per cent in MAT (moving annual total) .
Narvar raises USD 30Mn in Series C Funding round
Narvar, the premium post-purchase customer engagement platform has announced receiving funds worth USD 30 million in Series C financing round led by Accel, who also led Narvar's Series A round.Existing investors including Battery Ventures participated in the round, as well as new investors Salesforce Ventures and Scale Venture Partners. In conjunction with the financing, Ryan Sweeney, partner at Accel, will join Narvar's board. Since its founding in 2012, Narvar has raised USD 64 million in total funding."Accel has proudly been a Narvar partner from the start, and has watched the company's customer adoption, product innovation, employee culture and global market traction continue to flourish," said Sweeney.Experts predict that by 2020, customer experience will overtake price and product as the key brand differentiator. Traditionally, retailers have been obsessed with acquisition and conversion, often neglecting the post-purchase phase of the journey. Narvar helps brands to engage ...
World stocks at six-month high as NAFTA deal eases trade war fears
LONDON (Reuters) - World stocks rose to a six-month high on Tuesday, lifted by investor optimism that a U.S.-Mexico deal to overhaul the North American Free Trade Agreement will go some way to averting a global trade war.
Lupin to be excluded from Nifty 50 from Sep 28; JSW Steel to move in
Drug major Lupin will move out from the National Stock Exchange's benchmark index Nifty 50 from September 28. In its place, leading alloy maker JSW Steel will enter the index, NSE Indices Ltd (formerly known as India Index Services and Products Ltd) said in a statement issued today. Besides, it has decided replacement of stock on various other indices including Nifty Next 50, Nifty 500, Nifty 100, Nifty 200, Nifty Midcap 150, Nifty Smallcap 250, Nifty Midcap 50, Nifty Midcap 100 as well as sectoral indices like PSU Banks, media, realty and commodities among others. The changes were announced by NSE Indices, an arm of the NSE, as part of its periodic review. "These changes shall become effective from September 28, 2018," the statement noted. Six companies -- Punjab National Bank, Cummins India, Emami, JSW Steel, Power Finance Corporation and Rural Electrification Corporation -- will be excluded from Nifty Next 50 index, which composes of 50 companies from Nifty 100, other than the ...
Mnuchin says trade deal with Canada possible this week - CNBC
WASHINGTON (Reuters) - U.S. Treasury Secretary Steve Mnuchin said on Tuesday he believed the United States can reach a trade deal with Canada this week after coming to an agreement with Mexico.
Tiffany's results trump estimates, profit outlook up
(Reuters) - Tiffany & Co's quarterly results topped Wall Street estimates on Tuesday on strong demand for its jewelry in the Americas and China, prompting the luxury retailer to raise its full-year profit forecast.
Sebi slaps Rs 1 cr fine on Sunshine Infrabuild, 2 directors for non compliance
Sebi today imposed a fine of Rs 1 crore on Sunshine Infrabuild Corporation and its two directors for not complying with the market regulator's earlier direction to refund the money raised illegally from investors. In an order passed in September 2015, Sebi had held that the firm and its two directors, Dharm Singh Kushwah and Mukesh Singh, along with others, had raised Rs 35.41 crore from 8,071 investors illegally through different types of unregistered debentures from 2010 to 2014. Through the order, the regulator had directed Sunshine and its directors to refund the money with interest to the investors. In its fresh ruling, Securities and Exchange Board Of India (Sebi) observed that the firm and its two directors have failed to refund the money to investors and thus not complied with the earlier order. "The gravity of this matter cannot be ignored as non-compliance of the directions is continuing till date after lapse of almost 3 years," Sebi said. "The brazen defiance and wilful ...
Domestic refined copper production falls 47% in Q1: Care Ratings
Domestic refined copper production declined by 47.1 per cent in the first quarter this fiscal, mainly on account of Vedanta's copper smelter plant shutdown at Tuticorin, Care Ratings said today. During the quarter, the output of Hindustan Copper (HCL) and Hindalco was also restrained due to shutdown of their smelters for maintenance purposes. "Domestic refined copper production has fallen by 47.1 per cent during Q1-FY19. Fall in production is mainly attributable to the shutdown of the 400 KT, Tuticorin smelter which accounted for 40 per cent of the country's copper smelting capacity," the rating agency said in a statement. The drop in domestic production has led to the domino effect of a sharp increase in the country's imports and fall in the exports. "Exports have fallen by 91.6 per cent (it had increased 70.1 per cent in the first quarter previous fiscal), whereas imports have increased by 221.6 per cent (it fell 69.9 per cent in April-June quarter last year). "India imported ...
Petrol crosses Rs 78, diesel rates at new high
Petrol prices today crossed the Rs 78 per litre mark in Delhi for the first time in more than two-and-half-months, while diesel continued to scale new highs. Petrol price was hiked by 14 paise and diesel by 15 paise, according to price notification of state-owned fuel retailers. The increase pushed up the petrol price past Rs 78 for the first time since June 3. It now costs Rs 78.05 a litre in Delhi. In Mumbai, it is at Rs 85.47. Diesel rates scaled a new high of Rs 69.61 per litre. In Mumbai, it costs Rs 73.90. Fuel prices in Delhi are the cheapest in all metros and most of state capitals due to lower sales tax or VAT. Diesel prices hit their highest level, crossing the previous peak of Rs 69.31 a litre reached on May 29. Petrol rates are however lower than the peak hit on May 29 when they touched Rs Rs 78.43 a litre in Delhi and Rs 86.24 in Mumbai. Fuel prices have been on the rise since August 16 after the rupee dipped to its lowest value against the US dollar. The domestic unit ...
YES BANK, Rajasthan govt. partner to launch payments wallet 'Bhamashah'
YES BANK, India's fourth largest private sector bank has announced its partnership with the Government of Rajasthan to launch Bhamashah Wallet, a simple instant payment digital wallet solution for the state of Rajasthan.The Bhamashah wallet, Rajasthan government's online payment application was launched by Chief Minister of Rajasthan, Vasundhara Raje. The wallet service was launched as a part of Bhamashah Yojana, a scheme introduced by the Government of Rajasthan to transfer financial and non-financial benefits of governmental schemes directly to women recipients in a transparent way.Through the Bhamashah wallet, subsidy disbursements can now be done seamlessly by the Government to the beneficiaries directly in the digital wallets provided to them."YES BANK is pleased to partner with the Government of Rajasthan to further digital payment services for citizens, ease subsidy disbursement process for the government and be an enabler of financial services for the last mile. The Bank is ...
Oil touches seven-week highs after signs of tighter supply
LONDON (Reuters) - The oil price rose towards its highest since early July on Tuesday, thanks to evidence of still-modest increases in output from OPEC and improving Chinese refinery demand.
Royal Enfield unveils new model
Royal Enfield today launched Classic Signals 350 motorcycle priced at Rs 1,58,861 (ex-showroom Bengaluru) across the country in two new colours. The new model would be available in two colours - Airborne Blue and Stormrider Sand - with a dedicated collection of gear and over 40 accessories, including panniers and steel engine guards, Royal Enfield business head (India) Shaji Koshy told reporters here. With more than 50 per cent growth over the last five years, Royal Enfield is fast becoming an important player in the global mid-size motorcycle market, Koshy said. The company is working towards re-inventing this space with motorcycles that are evocative and engaging and great fun to ride, he said. Royal Enfield operates through 17 company-operated stores and 705-plus dealers in all major cities and towns, Koshy said. The company exports to over 50 countries including USA, the UK, European and Latin American countries, he said, adding that it also exports to the Middle ...
Fertiliser stocks in heavy demand; surge up to 11%
Fertiliser stocks were in huge demand today, surging up to 11 per cent, amid reports that these companies will get weekly subsidies. Shares of Fertilizers and Chemicals Travancore soared 10.98 per cent, Madras Fertilizers 6.60 per cent, Chambal Fertilisers & Chemicals 6.28 per cent and Nagarjuna Fertilizers and Chemicals 4.80 per cent on BSE. Among others, Zuari Agro Chemicals gained 2.20 per cent, National Fertilizers 2.08 per cent, Gujarat State Fertilizers & Chemicals 1.58 per cent and Deepak Fertilisers & Petrochemicals Corporation 0.77 per cent.
GoAir to launch int'l ops; first flight on Mumbai-Phuket route
Wadia group-owned budget carrier GoAir is all set to fly international from October, with the first flight to operate on the Mumbai-Phuket route, a source privy to development said. The bookings for the maiden international flight will commence soon and an announcement to this effect is expected to be made by Thursday, the source said. The city-based airline, which became eligible to fly overseas more than two years ago when it took delivery of its 20th aircraft, which was also the first Airbus A320 Neo for the airline, will be the fifth domestic carrier to have international operations. "We will be launching our international operations with a flight to Phuket (Thailand) from Mumbai in October. We have all regulatory approvals in place and the flight is expected to go into the system (bookings) in a week's time," the source told PTI. The source said the airline is looking to launch three to four international destinations by March next year, adding the proposed ...
Warren Buffett's Berkshire picks up stake in India's Paytm
Warren Buffett's Berkshire Hathaway Inc has acquired a Rs 2,500 crore stake in India's biggest digital-payments firm Paytm, its first investment in the country's burgeoning startup ecosystem. In a statement, One97 Communications Ltd, which owns the Paytm brand, said US-based Berkshire Hathaway would have a member on the company board in lieu of the investment, but did not disclose the size of the deal or the stake sold. However, people with direct knowledge of the development said Berkshire could have bought 3-4 per cent stake for about USD 300-350 million (about Rs 2,500 crore), valuing the Indian firm at over USD 10 billion. The investment has not been made by Buffett in his personal capacity. Berkshire, which has traditionally invested in companies in sectors like consumer, energy and insurance, joins Japanese giant SoftBank that had last year bought a reported 20 per cent stake in Paytm for an estimated USD 1.4 billion (over Rs 9,000 crore). Other high-profile investors in Paytm ..
Tata Motors to showcase 5 new public transport vehicles at Bengaluru bus exhibition
Tata Motors today said it will showcase five new public transport vehicles at the bus and coach exhibition, BusWorld India, in Bengaluru starting from tomorrow. Under its new turnaround strategy, the company is "aggressively" focusing on introducing new range of products with improved features and modern technological advancements, Rohit Srivastava, Product Line Head - Passenger Commercial Vehicle, Tata Motors said. The new range of transport solutions on display will be - Starbus Ultra AC 22-Seater Push back, Starbus 12-Seater AC Maxi cab, WINGER 12-Seater, Tata 1515 MCV Staff Bus and MAGNA intercity coach. Tata Motors will continue to play an active role in mass public transportation, with a commitment towards striking the right balance between sustainable growth and profitability, the company said. Bus and coach manufacturers, component suppliers, and technology providers participate in the exhibition.