Page 2712 - Business Finance
Turmeric futures soften on profit-booking
Turmeric prices eased by 0.85 per cent to Rs 6,778 per quintal in futures market today as traders booked profits, driven by subdued demand at the spot market against adequate stocks position. At the National Commodity and Derivatives Exchange, turmeric for delivery in October fell by Rs 58, or 0.85 per cent to Rs 6,778 per quintal with an open interest of 8,525 lots. Similarly, the spice for delivery in September contracts shed Rs 44, or 0.65 per cent to Rs 6,724 per quintal in 11,700 lots. Market analysts said apart from profit-booking by participants, easing demand in the physical markets against sufficient stocks position, mainly influenced turmeric prices at futures trade.
Explainer: Tesla's U-turn puts it back at square one on cash
NEW YORK (Reuters) - Elon Musk's take-private plans for Tesla Inc have evaporated, but the company's looming debt needs remain.
Board of Dhenu Buildcon Infra appoints directors
With effect from 27 August 2018
Focused on building brand loyalty, innovation in India: Vivo
As the festive season inches closer in India, Vivo is focused on building brand loyalty and offering consumers innovative new "made in India" products across all price segments, a top company official said here on Tuesday.
Gujarat State Petronet announces appointment of nominee director
With effect from 08 August 2018
Cardamom futures gain 1.75% on strong demand
Cardamom prices rose 1.75 per cent to Rs 1,359 per kg in futures trade today as participants raised their bets amid pick up in demand in the spot market against tight stocks position. At the Multi Commodity Exchange, cardamom for delivery in September shot up by Rs 23.40, or 1.75 per cent, to Rs 1,359 per kg in a business turnover of 13 lots. Analysts said widening of positions by traders on the back of soaring demand in spot market against tight stocks position on fall in arrivals from growing regions, pushed up cardamom prices in futures trade.
Robust demand lifts crude palm oil futures by 0.34%
Crude palm oil prices moved up by 0.34 per cent to Rs 591.90 per 10 kg in futures market today as speculators widened their positions, taking positive cues from spot market on uptick in demand. At the Multi Commodity Exchange, crude palm oil for delivery in September rose by Rs 2, or 0.34 per cent, to Rs 591.90 per kg in business turnover of 211 lots. Similarly, the oil for delivery in August contract gained Rs 1.80, or 0.30 per cent, to Rs 593 per 10 kg in 111 lots. Analysts said expanding of positions by participants after upsurge in demand in the physical markets against tight stocks position on restricted supplies from growing regions, led to rise in crude palm oil prices in futures trade.
Volumes spurt at Lux Industries Ltd counter
Lux Industries Ltd notched up volume of 51726 shares by 10:48 IST on BSE, a 31.4 fold spurt over two-week average daily volume of 1647 shares
Asian currencies rise as U.S.-Mexico deal eases trade worries
(Reuters) - Asian currencies edged higher on Tuesday as global trade tensions eased slightly after an agreement between the United States and Mexico to overhaul the North American Free Trade Agreement boosted risk appetites.
Oil markets trading in range amid mixed supply signals
SINGAPORE (Reuters) - Oil prices were steady on Tuesday, capped by gradually rising output from producer club OPEC and supported by perceived supply risks from places such as Venezuela, Africa and Iran.
U.S., Mexico reach NAFTA deal, turn up pressure on Canada
WASHINGTON (Reuters) - The United States and Mexico agreed on Monday to overhaul the North American Free Trade Agreement (NAFTA), putting pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-nation pact.
Nickel futures gain 0.13% on spot demand
Amid pick-up in demand from consuming industries at the domestic spot markets, nickel prices inched marginally higher by 0.13 per cent to Rs 937.90 per kg in futures trade today as participants created positions. At the Multi Commodity Exchange, nickel for delivery in September moved up Rs 1.20, or 0.13 per cent, to Rs 937.90 per kg, in a business turnover of 39 lots. Likewise, the metal for delivery in August traded higher by 70 paise, or 0.08 per cent, to Rs 932.90 per kg in 891 lots. Analysts said pick-up in demand from alloy-makers at the spot market, led to the rise in nickel prices in futures trade here.
Nestle, Starbucks wrap up $7.15 billion licensing deal
ZURICH (Reuters) - Nestle and Starbucks said on Tuesday they had concluded their licensing deal for the Swiss food giant to market the U.S. coffee maker's packaged coffees and teas around the world.
15.55 mln tonnes of fertilisers sold via PoS under DBT scheme in Apr-Jul
About 15.55 million tonnes of fertilisers were sold during April-July of this fiscal through the point of sale (PoS) devices installed at retail shops under the direct benefit transfer (DBT) scheme, a senior Fertiliser Ministry official said today. Under the fertiliser DBT system, 100 per cent subsidy on various fertiliser grades is released to the fertiliser companies on the basis of actual sales made by the retailers to the beneficiaries who are identified through documents like Aadhaar card, Kisan credit card and the voter identity. "Sale of fertilisers are being undertaken through the PoS machines smoothly. Up to July, 15.55 million tonnes of fertilisers were sold," the official told PTI. About 1.29 million tonnes of fertilisers were sold in April, 2.26 million tonnes in May, 4.63 million tonnes in June and 7.35 million tonnes in July of the current fiscal, he added. Among fertilisers, sale of locally manufactured urea was 7 million tonnes and imported urea was 1.34 million tonnes
Copper futures fall 0.11% on weak global cues
Copper prices drifted lower by 0.11 per cent to Rs 425.65 per kg in futures trade today as participants cut bets in sync with a weak trend overseas amid muted demand at the domestic spot markets. At the Multi Commodity Exchange, copper for delivery in November shed 45 paise, or 0.11 per cent, to Rs 425.65 per kg in a business turnover of 106 lots. Similarly, the metal for delivery in August eased by 30 paise, or 0.07 per cent, to Rs 418.20 per kg in 1,785 lots. Analysts said offloading of positions by traders, triggered by a weak trend at the London Metal Exchange (LME) as the trade war between the US and China clouded the demand-outlook for industrial metals, led to decline in copper prices at futures trade. Besides, muted demand from consuming industries at the domestic markets too weighed on the metal prices, they added. At the LME, copper for delivery in three months dropped 0.6 per cent to USD 6,066.50 a tonne, while the most-traded copper contract on the Shanghai Futures ...
JBF Inds hits the roof after debt restructuring plan
JBF Industries rose 5% to Rs 41.05 at 10:36 IST on BSE after the company's board approved debt restructuring plan for its subsidiary JBF Petrochemicals.
China raises yuan mid-point most in 15 months, spurs dollar buying
SHANGHAI (Reuters) - China's central bank raised its daily guidance rate for the yuan by the most in nearly 15 months on Tuesday, its latest move to put a floor under the currency as a trade war with the United States grinds on.
Gold futures up Rs 78 on positive global cues
Gold prices rose by Rs 78 at Rs 30,080 per 10 grams in futures trade today after speculators raised bets, tracking a firming global trend. At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 78, or 0.26 per cent, to Rs 30,080 per 10 grams, in a business turnover of 376 lots. The yellow metal for delivery in December too rose by Rs 77, or 0.25 per cent, to Rs 30,295 per 10 grams in five lots. Analysts attributed the rise in gold prices in futures trade here to a firming trend overseas where it hit two-week high as the dollar weakened in the wake of a trade deal between the US and Mexico, improving demand for the precious metals as a safe-haven asset. Meanwhile, gold rose 0.46 per cent, to USD 1,210.80 an ounce in New York yesterday.
Positive global cues lift silver futures by Rs 111 per kg
Silver prices went up by Rs 111 to Rs 38,084 per kg in futures trading today as speculators widened positions amid firm trend in precious metals overseas. At the Multi Commodity Exchange, silver for delivery in December traded higher by Rs 111, or 0.29 per cent, at Rs 38,084 per kg in a business turnover of 141 lots. Likewise, the white metal for delivery in September was up by Rs 106, or 0.29 per cent, to Rs 37,256 per kg in 443 lots. Market analysts said speculative positions built up by participants, tracking a better trend in global markets for precious metals, supported the upside in silver prices in futures trade here. Meanwhile, silver surged 0.64 per cent to USD 14.86 an ounce in York yesterday.
Crude oil futures rise on positive global cues
Crude oil rose by Rs 10 to Rs 4,836 per barrel in futures market today as speculators raised bets, taking positive cues from global markets. Crude oil for delivery in September was trading higher by Rs 10, or 0.21 per cent, to Rs 4,836 per barrel, in a business turnover of 1,387 lots at the Multi Commodity Exchange (MCX). Likewise, the oil for delivery in October rose Rs 8, or 0.17 per cent, to Rs 4,829 per barrel in six lots. Analysts attributed the upside in oil prices to speculative positions created by traders as prices picked up in global oil market as risks of supply disruptions from places such as Venezuela, Africa and Iran triggered expectations of a tightening market. Meanwhile, West Texas Intermediate gained 9 cents, or 0.1 per cent, to USD 68.96, while global benchmark Brent was up 16 cents, or 0.2 per cent, to USD 76.37 a barrel.