Page 2747 - Business Finance
Den Networks Ltd down for fifth straight session
The stock is quoting at Rs 52.9, down 1.58% on the day as on 13:19 IST on the NSE. Den Networks Ltd gained for a third straight session today in last one year as compared to a 17.45% up 0.1%. in NIFTY and a 1.97% up 17.63% in the Nifty Media index.
L&T rises 3% as board approves share buyback proposal
Shares of Larsen & Toubro (L&T) today rose nearly three per cent after its board approved a proposal to buy back six crore shares amounting to Rs 9,000 crore to reward its shareholders. The stock had opened on a bullish note at Rs 1,326.10 and shot up 2.8 per cent to touch the day's high of Rs 1,359.20. The scrip is currently trading at Rs 1,359, up 2.79 per cent from the previous close. At NSE, L&T scrip is currently quoting at Rs 1,358.55, a rise of 2.72 per cent from the previous close. It has touched a high of Rs 1,360. In a filing to stock exchanges, L&T said its board has approved a proposal to buy back six crore shares at a maximum price of Rs 1,500 apiece, amounting to a total of Rs 9,000 crore. This is L&T's first-ever share buyback proposal. The buyback size is 4.29 per cent of paid-up equity capital of the company. This year, boards of many IT firms including TCS, HCL Technologies and Mphasis have approved proposals to buy back shares.
Trade tensions may power down China's robot industry
BEIJING (Reuters) - At a trade show in southern Beijing, children and parents crowd around a group of pink and blue dancing robots that resemble toddler-sized Power Rangers.
Lupin enters prescription dermatology segment in Brazil
Drug maker Lupin today said it has entered the prescription dermatology segment in Brazil with the launch of two products Fillerina and Recrexina in the country. Fillerina is a high-end anti-aging technology that incorporates a deep action innovative formulation to fill wrinkles and expression lines. Recrexina, on the other hand, is a hair-growth formulation which stimulates natural hair growth in active and partially inactive follicles. "The launch of Lupin high-end skin science is a recognition of Lupin Brazil's capabilities within the pharmaceutical market, and with the launch of Fillerina and Recrexina, we look to executing on our capabilities in this sector and address the dermatological needs of the market," Lupin Latin America President Martin Mercer said in a statement. The dermatology segment is a rapidly growing portion of the Brazilian pharmaceutical market, he added. "The establishment of this new division to cater to Brazil's fast growing dermatological segment will ...
Jagran Prakashan Ltd up for five straight sessions
The stock is quoting at Rs 122.7, up 0.41% on the day as on 12:44 IST on the NSE. Jagran Prakashan Ltd is down 29.28% in last one year as compared to a 17.47% fall in NIFTY and a 1.84% fall in the Nifty Media.
Revv raises Rs. 100 Cr in Series B funding led by Hyundai Motor
Car-sharing company Revv on Thursday announced securing Rs. 100 crore in Series B funding led by Hyundai Motor.Being amongst the largest car sharing platforms in India, Revv aims to re-imagine the mobility solutions for users' needs ranging from few hours to a few years, to cater to the vast majority of Indians who do not own a car yet.Its products include hourly self-drive car sharing, one-way outstation car sharing and Switch - India's first monthly car subscription program, where members enjoy all the benefits of car ownership without the hassle, upkeep and commitment.With its strategic investment in Revv, Hyundai Motor gains its first foothold in the Indian car-sharing market and is the only automotive company amongst Revv's investors. Hyundai Motor's blueprint is to co-develop the company's new growth engine by developing innovative mobility services that combine technologies such as autonomous driving and artificial intelligence with the sharing economy to transform people's ...
3EA research reveals growing entrepreneurship potential for MSMEs in UP
3rd Eye Advisory (3EA) conducted a study in Uttar Pradesh after the two events, UP Investor's Summit, which was held on 21 and 22 July and 'Ground Breaking Ceremony' held on 29 July, where government announced an investment of over Rs. 60,000 crore in 81 projects of Uttar Pradesh.Primary and secondary data collected through focused group interviews of MSME's and nano entrepreneurs, with a sample size of 200, across districts of central UP have revealed that though benefits of investor summits will be realized by society at large after minimum 2 financial years, a positive eco-system has been created. Almost 80 per cent of sample covered mentioned that they would prefer entrepreneurship over full-time jobs for their livelihood.Young qualified professionals having engineering and management backgrounds were covered in the survey. The younger generations of UP have shifted their focus from full-time jobs to become entrepreneurs. They are trying to establish start-ups related to their ...
Chana futures edge down 1.61% on profit-booking
Chana prices moved down by 1.61 per cent to Rs 4,194 per quintal in futures trade today as investors booked profits at prevailing levels amid easing demand in the spot market. At the National Commodity and Derivatives Exchange, chana for delivery in September fell by Rs 69, or 1.61 per cent, to Rs 4,194 per quintal with an open interest of 81,180 lots. Similarly, the commodity for delivery in far-month October declined by Rs 66, or 1.51 per cent, to Rs 4,285 per quintal in 15,590 lots. Analysts said besides profit-booking by participants at existing levels, a decline in demand in the physical market against sufficient stocks position attributed to the fall in chana futures.
Maize futures down on spot demand
Maize prices went down by 0.67 per cent to Rs 1,329 per quintal in futures trade today on minimizing bets amid lower physical markets stance. Marketmen mentioned the downturn in maize futures prices to falling prices in the spot markets due to ample stocks on consistent supplies along with slackness in demand from poultry feed makers. At the National Commodity and Derivatives Exchange counter, maize delivery for September shed Rs 9 or 0.67 per cent to Rs 1,329 per quintal, depicting an open interest of 7,550 lots. Also, the delivery for October inched down by Rs 9 or 0.66 per cent to Rs 1,360 per quintal, revealing an open interest of 2,70 lots.
Welspun Corp Ltd rises for third consecutive session
The stock is quoting at Rs 157.8, up 5.94% on the day as on 12:49 IST on the NSE. Welspun Corp Ltd is up 17.63% in last one year as compared to a 17.43% drop in NIFTY and a 0.01% drop in the Nifty Metal index.
Godrej Industries Ltd spurts 1.9%, rises for third straight session
The stock is quoting at Rs 631.6, up 1.9% on the day as on 12:49 IST on the NSE. Godrej Industries Ltd is up 4.46% in last one year as compared to a 17.43% gain in NIFTY and a 27.32% gain in the Nifty FMCG index.
GlaxoSmithkline Consumer Healthcare Ltd rises for third consecutive session
The stock is quoting at Rs 7484.85, up 5.27% on the day as on 12:49 IST on the NSE. GlaxoSmithkline Consumer Healthcare Ltd is up 41.34% in last one year as compared to a 17.43% spurt in NIFTY and a 27.32% spurt in the Nifty FMCG index.
NTPC Ltd soars 1.99%, rises for third straight session
The stock is quoting at Rs 164.05, up 1.99% on the day as on 12:49 IST on the NSE. NTPC Ltd is down 2.93% in last one year as compared to a 17.43% gain in NIFTY and a 21.17% gain in the Nifty Energy index.
Turmeric futures slips 2 pc on weak demand
Turmeric prices fell by 2 per cent to Rs 6,884 per quintal in the futures market today on account of easing demand from retailers and industrial buyers at the spot market. Besides, reports of improved sowing from major growing areas of Tamil Nadu, Karnataka and Maharashtra also influenced turmeric futures prices. At the National Commodity and Derivatives Exchange, turmeric for September declined by Rs 140, or 2 per cent, to Rs 6,884 per quintal with an open interest of 16,135 lots. Similarly, the spice for October lost Rs 106, or 1.49 per cent, to Rs 6,994 per quintal in 4,935 lots. Market analysts said off-loading of positions by traders, triggered by fall in demand at the domestic spot market against adequate stocks position, mainly exerted pressure on turmeric prices.
TVS launches 110cc bike 'Radeon'
TVS Motor Company today announced the launch of its new 110cc motorbike, Radeon. The company said the bike's features include "largest seat in the segment" besides car-like speedometer. Chrome silencer, thigh pads on the petrol tank, synchronised braking and high ground clearance are the other features, the company said after launching the vehicle here. TVS Motor Company President and CEO, KN Radhakrishnan, said the company was "targeting the discerning progressive customers" with Radeon. "TVS Radeon boasts of multiple first-in-class features and usage-led design, which offers strength, comfort and style without compromising practicality," he said.
Jeera futures fall Rs 550 per qtl on profit-booking
Jeera prices fell Rs 550 to quote at Rs 19,820 per quintal in futures trading today as speculators trimmed positions to book profits at prevailing levels amid lower domestic and exports demand at the spot market. Furthermore, ample stocks position following higher supplies from the producing belts, fuelled the downtrend. At the National Commodity and Derivatives Exchange, jeera for delivery in September fell Rs 550, or 2.70 per cent, to to trade at Rs 19,820 per quintal, with an open interest of 7,344 lots. Similarly, the spice for delivery in far-month October moved down by Rs 550, or 2.66 per cent, to quote at Rs 20,130 per quintal in 1,755 lots. Analysts said besides profit-booking by speculators at existing levels, a fall in demand at the spot market against adequate stocks position, kept pressure on jeera futures.
Negative market breadth
Stocks regained positive zone in early afternoon trade. At 12:15 IST, the barometer index, the S&P BSE Sensex, was up 35.86 points or 0.09% at 38,321.61. The Nifty 50 index was up 2.80 points or 0.02% at 11,573.70. Capital goods stocks saw mixed trend.
Board of Force Motors approves binding arrangements with Man Trucks India
For sale and transfer of assets
HDFC Bank allots 46.2 lakh equity shares
Under ESOS
RInfra defaults on Rs 133 cr NCD redemption payment
Reliance Infrastructure (RInfra)has defaulted on payment of redemption of non convertible debentures (NCDs) amounting to Rs 133.38 crore. The company however said it expects to make these payments in the next few days from the proceeds from sale of Mumbai Power Business to Adani Transmission for Rs 18,800 crore. "The entire proceeds of the sale transaction have been earmarked for the payment of various debt including final redemption of Series 3 NCDs amounting to Rs 133.38 crore due on August 20, 2018," RInfra said in a BSE filing. "The company expects to make these payments in the next few days from the proceeds of the aforesaid sale transaction, and the debenture holders have duly been informed in this regard," it added. RInfra said it has obtained all relevant approvals from fair trade regulator CCI, shareholders of the company, Maharashtra Electricity Regulatory Commission, and others. All lenders have provided their NOCs, and the company expects to close the transaction within ...