Page 2737 - Business Finance
Volumes jump at Mahindra CIE Automotive Ltd counter
Mahindra CIE Automotive Ltd witnessed volume of 30.64 lakh shares by 10:48 IST on BSE, a 173.75 times surge over two-week average daily volume of 17635 shares
Gold futures fall 0.10% on profit-booking
Gold prices drifted 0.10 per cent lower to Rs 29,780 per 10 grams in futures trade as speculators booked profits amid a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in December fell Rs 31, or 0.10 per cent, to Rs 29,780 per 10 grams in a business turnover of just 1 lot. Similarly, metal for delivery in October contracts traded Rs 26, or 0.09 per cent, lower at Rs 29,582 per 10 grams in 143 lots. Analysts attributed the fall in gold futures to profit-booking by participants and a weak trend overseas on a stronger dollar reduced the precious metal's appeal as a safe-haven. Globally, gold fell 0.90 per cent to USD 1,184.60 an ounce in New York yesterday.
Hexaware Technologies tanks 19 pc on stake sale reports
Shares of Hexaware Technologies today slumped as much as 19 per cent in morning trading on bourses amid reports that Baring PE Asia is selling stakes worth around Rs 1,100 crore. According to reports, Baring PE Asia through an entity called HT Global IT Solutions Holdings will sell stakes around Rs 1,120 crore. Following this, shares of Hexaware Technologies opened on a weak note at Rs 453, then fell to a low of Rs 415.20, down 16.57 per cent from its previous closing price. Similar movement was seen on the NSE as well, where the stock opened at Rs 452, then fell to a low of Rs 401.10, down 19.24 per cent over its last close. HT Global is the investment vehicle through which Barings Asia holds a controlling stake in company. As per the June quarter, HT Global IT Solutions Holdings holds 21,13,18,590 shares, amounting to 71.22 per cent stake in the company.
Exclusive: China's Unipec to resume U.S. oil purchases after tariff policy change - sources
SINGAPORE/BEIJING (Reuters) - China's Unipec will resume purchases of U.S. crude oil in October after a two-month halt due to the trade dispute between the world's two largest economies, three sources with knowledge of the matter said.
Casino firm Landing says unable to contact chairman, shares drop 33 percent
HONG KONG (Reuters) - Casino operator Landing International Development Ltd said it has not been able to contact its chairman and controlling shareholder for over a day, sending its Hong Kong-listed shares down as much as 33 percent.
Asia slips after U.S.-China trade talks end without progress
TOKYO (Reuters) - Asian stocks fell on Friday after U.S.-China trade talks ended without progress and market focus shifted to a speech by the Federal Reserve chairman for fresh clues on the direction of U.S. monetary policy.
Singapore July factory output growth slows on-month, but beats forecast
SINGAPORE (Reuters) - Singapore's industrial production growth slowed slightly on-year in July from a month ago, but still came in above forecasts, data showed on Friday.
Market turns volatile
A bout of volatility was seen in morning trade as the key benchmark indices once again sink in negative zone after after briefly turning positive. At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 20.01 points or 0.05% at 38,316.75. The Nifty 50 index was down 4.35 points or 0.04% at 11,578.40. Cement stocks rose.
Ashok Leyland wins tender for defence tracked combat vehicles
Hinduja Group firm Ashok Leyland today said it has bagged a tender in the defence tracked vehicle space, marking its foray into the niche segment. "As per the scope of work, the company will collaborate with Combat Vehicles Research and Development Establishment (CVRDE), Chennai, for manufacture, assembly and testing of light weight clutch for the design and development of weight optimised 1500 hp automatic transmission for main battle tanks," Ashok Leyland said in a statement. Ashok Leyland Head - Defence Amandeep Singh said, as a part of the company's strategy to expand its business scope.. it has been working on tracked vehicles. "With this win, we mark yet another milestone where we start working on the tracked vehicles that our soldiers use. We see huge potential in repowering and upgrading of existing BMPs/Tanks of the Indian Army," he added. He said the tracked combat vehicle opportunity also exists in several other countries which use Russian made combat vehicles. Shares of ...
Ashok Leyland rises after winning order
Ashok Leyland rose 0.34% to Rs 132.55 at 10:13 IST on BSE after the company said it won a tender for defence tracked combat vehicle.
SREI Infra gains as subsidiary to sell 26% stake in Quippo Drilling
SREI Infrastructure Finance rose 2.15% to Rs 47.45 at 9:58 IST on BSE after the company said its wholly owned subsidiary proposes to sell 26% stake in Quippo Drilling International to an overseas entity.
Australia's Westpac reports lower margins, warns delinquencies on rise
SYDNEY (Reuters) - Australia's Westpac Banking Corp, the country's second-biggest lender, on Friday reported a steep drop in quarterly margins on higher funding costs and cautioned that mortgage delinquencies were on the rise in most states.
Casino firm Landing says chairman unreachable, shares plunge
HONG KONG (Reuters) - Hong Kong-listed casino operator Landing International Development said it had lost contact with its chairman since Thursday, sending the company's shares down as much as 33 percent.
Graphic: India's stock market rally lacks depth
(Reuters) - Five Indian blue-chip companies have driven 97 percent of the stock market's rise to record highs this year, and analysts reckon uncertainty heading into next year's general elections will keep the rally in the months ahead just as narrowly focused.
Oil prices rise on Iran sanctions, but U.S.-China row mutes trading
SINGAPORE (Reuters) - Oil prices rose on Friday as U.S. sanctions on Iran are expected to cut significant volumes of crude from the market, although trading was muted by concerns over the unresolved trade dispute between Washington and Beijing.
Gold prices inch up, but trade concerns drag
BENGALURU (Reuters) - Gold prices edged up on Friday after falling nearly 1 percent in the previous session, but expectations of higher U.S. interest rates and a robust dollar amid the Sino-U.S. trade war kept a lid on the market.
Facebook hires top HP executive as Chief Marketing Officer
Facebook on Friday announced to hire Antonio Lucio, currently Global Chief Marketing and Communication Officer at HP Inc, who will work across the social media giant's family of apps, including WhatsApp and Instagram.
Board of Britannia Industries approves sub-division of shares
At meeting held on 23 August 2018
Sensex, Nifty turn volatile on weak global cues
Benchmark indices inched higher, but were trading on a volatile note in early trade amid rising trade tensions between the US and China as talks between the two countries ended without any significant outcome. The BSE Sensex was trading at 58.61 points, or 0.15 per cent, higher at 38,395.37. The index had hit a high of 38,428.99, rising 92.74 points, or 0.24 per cent, in opening session. The gauge had gained 673.20 points in the past four sessions. The wider NSE Nifty too rose 21.85 points, or 0.18 per cent to 11,604.60. Brokers said besides profit-booking at record levels, a mixed trend at other Asian markets following a negative leads from Wall Street dented the trading sentiment here. Investors are also cautious ahead of Federal Reserve Chairman Jerome Powell speech at the annual global central bank conference in Jackson Hole later in the day. Major gainers include PowerGrid, Axis Bank, Coal India, SBI, NTPC, Tata Steel and M&M with up to 1.58 per cent gains. While, ICICI Bank,
Board of Vivimed approved sale of specialty chemical business
At meeting held on 23 August 2018