Page 2710 - Business Finance
Mustard seed futures rise on firm spot market
Mustard seed prices went up by Rs 9 to Rs 4,090 per quintal in futures trade today as speculators widened holdings in tandem with strong demand at the spot markets. Marketmen said raising of bets by investors, taking positive leads from the spot markets on strong demand from oil mills against fall in supplies from growing belts, mainly supported the upside in mustard seed futures prices. At the National Commodity and Derivatives Exchange, mustard seed for delivery in October contracts marked higher by Rs 9 or 0.22 per cent to Rs 4.090 per quintal with an open interest of 34,840 lots. The most-active delivery in September contracts inched up by Rs 4 or 0.10 per cent to Rs 4,010 per quintal, with an open interest of 93,800 lots.
Soybean futures gain 0.41 pc
Soybean prices enquired higher by 0.41 per cent to Rs 3,197 per quintal in futures trade today after raising of bets by traders in tune with upbeat overseas lead. Marketmen said, optimistic buying by the investors, following firm overseas markets stance, gave upward indications to the soybean futures prices. At the National Commodity and Derivatives Exchange, soybean delivery for October went up by Rs 13 or 0.41 per cent to Rs 3,197 per quintal, having an open interest of 57,580 lots. Similarly, the delivery for November edged up by Rs 8 or 0.25 per cent to Rs 3,217 per quintal with an open interest of 39,930 lots.
India's crude steel output up 5.4% in Jan-Jul: World Steel Association
India's crude steel output increased by 5.4 per cent to 61.8 million tonnes (MT) in the first seven month of the calender year 2018, according to World Steel Association. The country had produced 58.6 MT of crude steel in the January-July period of 2017, the association said in a statement. India's crude steel production in July increased by 8.4 per cent to 9 MT, over 8.3 MT in July 2017, the release said. World crude steel production for the 64 countries reporting to the World Steel Association was at 154.6 MT in July, registering an increase of 5.8 per cent when compared to July 2017. China's crude steel production for July was at 81.2 MT, registering an increase of 7.2 per cent when compared to July 2017. Japan produced 8.4 MT of crude steel last month, down by 2 per cent when compared to July 2017. The government had earlier said that India's crude steel output is expected to soar by 38 per cent to 140 MT by the end of this year. The country produced 101.4 MT steel in 2017. The ...
Guar seed futures move up on positive spot cues
Guar seed prices were higher by Rs 41.50 to Rs 4,221 per quintal in futures trade today as speculators turned active in creating fresh positions on the back of the bullish trend in the physical markets. At the National Commodity and Derivatives Exchange counter, guar seed for delivery in November month contracts climbed by Rs 41.50 or 0.99 per cent to Rs 4,221 per quintal, with an open interest of 8,060 lots. Likewise, the most-traded, contract for October surged by Rs 32.50 or 0.78 per cent to Rs 4,183 per quintal, depicting an open interest of 1,09,070 lots. According to the marketmen, the rise in guar seed futures prices was mostly due to building up of fresh positions by participants, tracking a firm trend at the spot markets on rising demand from guar gum makers amid a halt in arrivals from producing regions.
Piramal Enterprises Ltd spurts 2.8%, gains for third straight session
The stock is quoting at Rs 3146.55, up 2.8% on the day as on 12:49 IST on the NSE. Piramal Enterprises Ltd is up 18.42% in last one year as compared to a 19.9% gain in NIFTY and a 14.42% gain in the Nifty Pharma index.
NMDC Ltd spurts 1.16%, gains for third straight session
The stock is quoting at Rs 108.9, up 1.16% on the day as on 12:49 IST on the NSE. NMDC Ltd is down 10.59% in last one year as compared to a 19.9% spurt in NIFTY and a 5.88% spurt in the Nifty Metal index.
JSW Steel Ltd soars 1.24%
The stock is quoting at Rs 360, up 1.24% on the day as on 12:49 IST on the NSE. JSW Steel Ltd is up 45.81% in last one year as compared to a 19.9% spurt in NIFTY and a 5.88% spurt in the Nifty Metal index.
Tata Steel Ltd soars 1.29%, Gains for third straight session
The stock is quoting at Rs 588.7, up 1.29% on the day as on 12:49 IST on the NSE. Tata Steel Ltd is down 1.95% in last one year as compared to a 19.9% gain in NIFTY and a 5.88% gain in the Nifty Metal index.
Coal India Ltd rises for third straight session
The stock is quoting at Rs 296.95, up 1.3% on the day as on 12:49 IST on the NSE. Coal India Ltd is up 24.64% in last one year as compared to a 19.9% jump in NIFTY and a 5.88% jump in the Nifty Metal index.
Vedanta Ltd soars 2.46%
The stock is quoting at Rs 231.05, up 2.46% on the day as on 12:49 IST on the NSE. Vedanta Ltd is down 22.74% in last one year as compared to a 19.9% spurt in NIFTY and a 5.88% spurt in the Nifty Metal index.
Hindalco Industries Ltd spurts 2.84%
The stock is quoting at Rs 236.8, up 2.84% on the day as on 12:49 IST on the NSE. Hindalco Industries Ltd is up 4.18% in last one year as compared to a 19.9% spurt in NIFTY and a 5.88% spurt in the Nifty Metal index.
Tata Consultancy Services Ltd spurts 0.74%, gains for five straight sessions
The stock is quoting at Rs 2066, up 0.74% on the day as on 12:44 IST on the NSE. Tata Consultancy Services Ltd is up 67.23% in last one year as compared to a 19.94% gain in NIFTY and a 48.52% gain in the Nifty IT.
Soybean futures gain 0.41 per cent
Soybean prices were higher by 0.41 per cent to Rs 3,197 per quintal in futures trade today after traders raised their bets in tune with upbeat overseas leads. Marketmen said widening of portfolios by investors, taking positive cues from global markets, mainly gave push to soybean prices at futures trade here. At the National Commodity and Derivatives Exchange, soybean for the most-active delivery in October went up by Rs 13 or 0.41 per cent to Rs 3,197 per quintal, having an open interest of 57,580 lots. Similarly, the delivery for November contracts edged up by Rs 8 or 0.25 per cent to Rs 3,217 per quintal, with open interest at 39,930 lots.
Substantial debt may impact company's ability to raise finance: Tata Steel
Substantial debt on the balance sheet is likely to have an adverse impact on Tata Steel's ability to raise finance at competitive rates, the steel major said in its report. This comes against the backdrop of Tata Steel earlier stating that it will raise Rs 16,500 crore through debt instruments to fund Rs 32,500 crore acquisition of Bhushan Steel Ltd (BSL). "Substantial amount of debt on the balance sheet may have an adverse impact on the company's ability to raise finance at competitive rates," Tata Steel said in its Annual Report 2017-18. Changes in assumptions underlying the carrying value of certain assets may result in the impairment of such assets, the company said. On the financial risks facing Tata Steel, it said, fluctuation in foreign exchange rates due to volatility in financial markets is likely to impact the company's debt servicing and create uncertainties in accessing the financial markets. It further said mitigation strategies for the financial risks would be ...
Guar gum futures rise 0.92% on firm spot cues
Guar gum prices went up by 0.92 per cent to Rs 9,030 per quintal in futures trade today as investors created holdings at existing levels, spurred by a firming trend at the physical markets amid pick up in export demand. Marketmen said building up of positions by participants, supported by rising prices in the spot markets, largely influenced guar gum prices in futures trade. Besides, increased export demand for oil drilling industries due to depreciating value of the rupee against the US dollar, also gave push to rising guar gum futures prices, they added. At the National Commodity and Derivatives Exchange, guar gum to be delivered in November spurted by Rs 82, or 0.92 per cent, to Rs 9,030 per quintal with an open interest of 3,825 lots. Guar gum for delivery in October too gained Rs 70, or 0.79 per cent, to Rs 8,940 per quintal revealing a business turnover in 61,835 open interest lots.
India's Crude Oil Production Falls 3.16% This Fiscal
India's Crude oil production during July, 2018 was 2896.24 TMT which is 6.66% lower than target and 5.39% lower when compared with July, 2017. Cumulative crude oil production during April-July, 2018 was 11703.41 TMT which is 2.8% lower than target for the period and 3.16% lower than production during corresponding period of last year.
Religare Enterprises allots 91.63 lakh equity shares
On conversion of warrants
Ruchi Soya's promoters sell over 1 cr shares worth 3.18% stake in open mkt
Bankruptcy-bound Ruchi Soya's promoters have sold 1.06 crore shares, worth 3.18 per cent stake, through open market transactions, the debt-ridden edible oil firm said in a regulatory filing. Ruchi Soya's promoter entity Disha Foundation Trust sold these shares on August 24. After sale of these shares, the promoters' stake in the company has come down to 38.88 per cent from 42.06 per cent, the filing said. Ruchi Soya, which is facing insolvency proceedings, has a total debt of about Rs 12,000 crore. The company has many manufacturing plants and its leading brands include Nutrela, Mahakosh, Sunrich, Ruchi Star and Ruchi Gold. In December 2017, Ruchi Soya Industries entered into the corporate insolvency resolution process (CIRP) and Shailendra Ajmera was appointed as the resolution professional (RP). The appointment was made by the National Company Law Tribunal (NCLT) on the application of the creditors Standard Chartered Bank and DBS Bank, under the Insolvency and Bankruptcy Code. Last .
Castor seed futures rise on positive spot lead cues
Castor seed prices were up sharply by Rs 48 to Rs 4,694 per quintal in futures trade today on building up of positions by traders, taking positive leads from the physical markets. Marketmen said fresh positions built up by participants, taking positive cues from the physical markets, where prices strengthened on thin supplies and acceleration in demand from consuming industries, attributed the rise in castor seed prices in futures trade here. At the National Commodity and Derivatives Exchange, castor seed for delivery in October contracts spurted by Rs 48, or 1.03 per cent, to Rs 4,694 per quintal, showing an open interest of 57,320 lots. Castor seed for September delivery also rose by Rs 39, or 0.85 per cent, to Rs 4,630 per quintal, with a business turnover of 1,09,600 lots.
Global Markets: Asian markets cautiously optimistic on U.S.-Mexico trade deal
SYDNEY (Reuters) - Asian shares advanced on Tuesday and the U.S. dollar hovered near its lowest in a month, with risk appetite sharpened by the United States and Mexico reaching a deal to overhaul the North American Free Trade Agreement.