Page 2749 - Business Finance
New US tariffs on $16 bn of Chinese goods kick in
A new round of US tariffs on $16 billion worth of Chinese imports kicked in on Thursday, prompting Beijing to retaliate with its own levies on American goods worth the same amount.
RCom concludes sale of 'media nodes' to Reliance Jio for Rs 2,000 cr
Reliance Communications today said it has completed the planned sale of its media convergence nodes (MCNs) and related infrastructure assets, worth Rs 2,000 crore, to Mukesh Ambani-backed Reliance Jio Infocomm (RJIO). The transaction entailed 248 nodes covering close to 5 million sq. ft. of area, used for hosting the telecom infrastructure, all of which now stands transferred to Jio, RCom said in a statement. "Reliance Communications Limited (RCOM) today announced the completion of the sale of its MCNs and related infrastructure assets, worth Rs 2,000 crore, to Reliance Jio Infocomm," the RCom statement said. Earlier this month, Reliance Communications had reinstated bank guarantees worth Rs 774 crore with the telecom department ahead of the timeline set by the telecom tribunal, and had said that its Rs 25,000 crore asset sale plans are "on track". Last year, Anil Ambani-owned Reliance Communications signed a pact with Reliance Jio for sale of wireless spectrum, tower, fiber and MCN ..
Reliance Communications completes sale of MCNs and related infra assets worth Rs 2000 cr
Powered by Capital Market - Live News
Spot demand lifts aluminium futures by 0.10%
Aluminium prices inched marginally higher by 0.10 per cent to Rs 143.60 per kg in futures trade today as speculators built up fresh positions amid uptick in demand at the spot market. At the Multi Commodity Exchange, aluminium for delivery in August edged up by 15 paise, or 0.10 per cent to Rs 143.60 per kg in business turnover of 541 lots. On similar lines, the metal for delivery in September was enquiring higher by a similar margin to Rs 144.50 per kg in 37 lots. Analysts said fresh positions created by participants due to pick up in demand from consuming industries in the physical market influenced aluminium prices in futures trade.
Prataap Snacks spurts after acquisition
Prataap Snacks rose 14.57% to Rs 1229.95 at 11:00 IST on BSE after the company said it will acquire 80% equity stake in Avadh Snacks for Rs 148 crore.
Volumes jump at Mahanagar Gas Ltd counter
Mahanagar Gas Ltd witnessed volume of 35.3 lakh shares by 10:48 IST on BSE, a 98.34 times surge over two-week average daily volume of 35899 shares
Reliance Communications sells $285 million worth assets to Reliance Jio
(Reuters) - India's Reliance Communications Ltd said https://www.bseindia.com/xml-data/corpfiling/AttachLive/6d78ba56-0338-4e82-9a79-3f1a6eab545c.pdf on Thursday it completed the sale of its media convergence nodes (MCNs) and related infrastructure assets worth 20 billion rupees ($285.4 million) to Reliance Jio Infocomm.
Wheat futures edge higher by 0.55% on spot demand
Wheat prices moved up by 0.55 per cent to Rs 2,001 per quintal in futures market today as speculators built up fresh positions amid improved demand. At the National Commodity and Derivatives Exchange, wheat for delivery in October rose by Rs 11, or 0.55 per cent to Rs 2,001 per quintal with an open interest of 600 lots. Likewise, the wheat for delivery in September was trading higher by Rs 6, or 0.30 per cent to Rs 1,991 per quintal in 3,950 lots. Analysts said fresh positions created by traders following improved demand in the physical market and a pause in arrivals from producing belts, mainly attributed the rise in wheat prices in futures trade.
Zinc futures slide by 0.84% on weak spot cues
Zinc prices drifted lower by 0.84 per cent to Rs 171.75 per kg in futures trade today as speculators cut down their positions, taking negative cues from spot market on tepid demand. At the Multi Commodity Exchange, zinc for delivery in September declined by Rs 1.45, or 0.84 per cent to Rs 171.75 per kg in business turnover of 61 lots. In a similar fashion, the metal for delivery in August shed Rs 1.40, or 0.81 per cent to Rs 171.65 per kg in 1,755 lots. Analysts said off-loading of positions by traders, driven by a fall in demand from consuming industries in the physical market, mainly led to decline in zinc prices at futures trade.
Refined soya oil softens by 0.59% on ample stocks
Refined soya oil prices fell by 0.59 per cent to Rs 734.10 per 10 kg in futures market today as speculators cut bets, triggered by adequate stocks position at spot market against lower demand. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October declined by Rs 4.35, or 0.59 per cent to Rs 734.10 per 10 kg with an open interest of 9,650 lots. Similarly, the oil for delivery in September was trading lower by Rs 3.45, or 0.47 per cent to Rs 736.75 per 10 kg in 47,410 lots. Analysts said trimming of of positions by participants, driven by sufficient stocks position on increased supplies from growing regions in the physical market against easing demand, led to the fall in refined soya oil prices in futures trade.
Nickel futures drop by 1.12% as participants trim bets
Nickel prices dropped by 1.12 per cent to Rs 939.10 per kg in futures trade today as participants cut bets, driven by muted demand from consuming industries in the spot market. At the Multi Commodity Exchange, nickel for delivery in September fell by Rs 10.60, or 1.12 per cent, to Rs 939.10 per kg in business turnover of 105 lots. Similarly, the metal for delivery in august contracts was trading lower by Rs 10.20, or 1.08 per cent, to Rs 934.40 per kg in 1,945 lots. Analysts said the fall in nickel prices in futures trade was mostly attributed to trimming of positions by participants owing to subdued demand from alloy-makers at the domestic spot market amid weakness in select base metals overseas.
Xiaomi's first results after IPO soothe investors as revenue jumps
BEIJING/SINGAPORE (Reuters) - China's Xiaomi Inc impressed investors with a surge in quarterly revenue that was driven by robust demand for its cheap smartphones in emerging markets, sending the company's shares as much as 7.2 percent higher on Thursday.
Copper futures fall 0.93% on global cues, low demand
Tracking weak trend overseas amid easing demand at the domestic spot market, copper prices declined by 0.93 per cent to Rs 408.35 per kg in futures trade today as speculators reduced bets. Besides, easing demand from consuming industries at domestic spot market, too fulled the downtrend. At the Multi Commodity Exchange, copper for delivery in August fell by Rs 3.85, or 0.93 per cent, to Rs 408.35 per kg in a business turnover of 986 lots. Likewise, the metal for delivery in November contracts lost Rs 3.65, or 0.87 per cent, to Rs 415.70 per kg in 71 lots. Analysts said sentiment turned bearish after London copper prices lost more ground today as hopes of progress on trade talks between Washington and Beijing faded, triggering concerns over demand for industrial metals. Globally, copper for delivery in three months lost 0.3 per cent to USD 5,986 a tonne on the London Metal Exchange. Also, copper contract on the Shanghai Futures Exchange gave up 0.7 per cent to 48,240 yuan (USD ...
CreditAccess Grameen sees weak debut
Shares of CreditAccess Grameen were trading at Rs 410 at 10:32 IST on BSE, a discount of 2.84% over the initial public offer price of Rs 422.
IIFL Asset Management appoints Pranob Gupta, Abhinav Jain to lead structured debt fund under AIF platform
IIFL Asset Management, part of IIFL Investment Managers, announced the appointments of Pranob Gupta and Abhinav Jain to lead the structured debt fund under the Alternative Investment Fund management platform. The duo will lead investing in structured credit opportunities, for Indian corporates and promoters.Prior to joining IIFL Asset Management business, Pranob Gupta was associated with KKR India where he was a senior structured finance originator. Earlier, he was associated with Citibank NA, Credit Suisse and Deutsche Bank among others.Abhinav Jain used to run his own Advisory and was earlier associated with Capital First and Deutsche Bank among others."We are very pleased to have Pranob Gupta and Abhinav Jain join us," commented Karan Bhagat, Founder, MD & CEO, IIFL Investment Managers. "They have come on board at a time of major opportunity in Indian structured debt and their domain expertise will go a long way in providing bespoke solutions for client needs."Pranob Gupta, ...
Gold futures fall 0.22% on weak overseas cues
Gold prices moved down by 0.22 per cent to Rs 29,640 per 10 grams in futures trade today as speculators trimmed positions, tracking a weak global trend. At the Multi Commodity Exchange, gold for delivery in October fell by Rs 65, or 0.22 per cent, to Rs 29,640 per ten grams in a business turnover of 17 lots. Sentiment dampened after gold prices edged down in global markets today, after hitting their highest in over a week in the previous session, as the dollar steadied on expectations of rising US interest rates, analysts said. Globally, gold fell 0.41 per cent to USD 1,190.40 an ounce in Singapore.
Weak global cues drag down silver futures by 0.57%
Taking subdued cues from the global market, silver prices drifted down by 0.57 per cent to Rs 36,690 per kg in futures trade today as participants reduced their exposure. At Multi Commodity Exchange, silver for delivery in September fell by Rs 210, or 0.57 per cent, to Rs 36,690 per kg in business turnover of 651 lots. Likewise, the white metal for delivery in December contracts was trading lower by Rs 185, or 0.49 per cent, to Rs 37,531 per kg in 90 lots. Analysts said offloading of positions by traders in tandem with a weak trend in the precious metals overseas, influenced silver prices in futures trade here. Globally, silver fell 0.88 per cent to USD 14.60 an ounce in Singapore.
Nestle India jumps after tie up with Flipkart to launch new Maggi variant
Nestle India rose 4.40% to Rs 11366.95 at 10:16 IST on BSE after the company announced that it will partner with Flipkart to launch MAGGI Special Masala Noodles.
International oil prices slip as trade spat escalates; US crude stock drop supports
SINGAPORE (Reuters) - International oil prices slipped on Thursday, weighed down by the escalating trade dispute between the United States and China, although a decline in U.S. commercial crude inventories offered some support.
Arun Jaitley to resume charge as finance minister
NEW DELHI (Reuters) - India minister Arun Jaitley will resume charge of the finance and corporate affairs ministry on Thursday after a gap of more than three months following a kidney transplant surgery, a government statement said.