Page 2763 - Business Finance
Global Markets: Trump's Fed attack sees dollar dive and emerging markets rally
LONDON (Reuters) - Critical comments by U.S. President Donald Trump about the country's central bank saw the dollar fall for the fourth straight day in its worst spell since March, boosting emerging market stocks and currencies in the process.
Sebi declares highest bidders for Pancard Clubs' properties in Kerala, Goa
Markets regulator Sebi today declared the highest bidders for a couple of properties belonging to Pancard Clubs for a combined bid value of Rs 4.94 crore. The properties include land parcels in Kerala and Goa, according to separate Sebi communications. Following the conclusion of e-auction of the land parcels in Kerala, ARV Ventures has been declared as the highest bidder with a bid amount of Rs 4.40 crore, the Securities and Exchange Board of India (Sebi) said. For the property in Goa, the regulator has announced Ramniwas L Agarwal, Vijay J Shewakramani and Manohar Jathar as the highest bidders "jointly" for a bid value of Rs 54 lakh. In both cases, the bidders have to immediately pay a sum amounting to the bid value's 25 per cent, which includes the earnest money deposit already deposited by them. The balance amount has to be paid within a period of 15 days along with poundage fee of 1 per cent of the bid amount. Pancard Clubs had mobilised Rs 7,035 crore from 51,55,516 investors ...
Honda's new Amaze records 30k unit sales in 3 months
Honda Cars India (HCIL) today said its newly launched compact sedan Amaze has clocked over 30,000 unit sales in the first three months of launch, thus becoming its best-selling new model ever. The car has recorded over 30,000 sales in the first three months of launch, which is the highest sales number recorded by any new model launched by HCIL in its 20-year history, the company said in a statement. HCIL Director, Sales and Marketing, Makoto Hyoda said the new Amaze has been built on all new platform and developed as a proper sedan from ground-up, helping it stand apart from the rest. "The customers have really appreciated this aspect and accepted the car very well," he said. The robust response to the new Amaze has driven up the company's cumulative sales in the April-July period, which grew by 12.5 per cent to 62,579 units as against 55,647 units in the year-ago period, HCIL said. India is the first country where Honda has launched the all-new Amaze, which also has the first diesel .
OpenTap inks pact with ITI EdVest
: City-based startup OpenTap today signed a partnership with ITI EdVest, promoted by financial services firm Investment Trust of India Ltd, to provide financial assistance to parents for paying the education fees of their children. "The partnership will add loans worth Rs 25 crore over the next six months. To begin with, it will focus on lending to parents for payment of their children education fees", the company said in a statement. OpenTap, promoted by former investment bankers, focuses on providing short term credit for individuals with a monthly income upto Rs 25,000. The company has set a target to disburse Rs 100 crore loans and to add 40,000 customers by March 2019. Currently, the company has an active base of 1,200 individuals with a loan book size of Rs three crore. "The partnership with ITI EdVest is a huge milestone for us. ITI EdVest's focus on delivering customised financial solutions to catalyse growth for students will greatly help towards this. We are ...
UK says aims to boost exports to 35 percent of GDP, gives no timeframe
LONDON (Reuters) - Britain aims to boost exports to 35 percent of gross domestic product after leaving the European Union as it looks to increase trade ties with the rest of the world, its trade minister said on Tuesday, but he gave no timeframe for reaching the target.
Outcome of board meeting of La Tim Metal & Industries
Held on 21 August 2018
AGS Transact Tech files Rs 1,000-cr IPO papers
Payment solutions provider AGS Transact Technologies has filed preliminary papers with capital markets regulator Sebi to mop-up Rs 1,000 crore through an initial public offer. In addition, another firm Harsha Engineers, manufacturer of precision bearing cages, has also approached Sebi to float an IPO. AGS' initial share-sale comprises fresh issue of equity shares aggregating up to Rs 400 crore, besides, an offer for sale worth up to Rs 600 crore by the existing shareholders, draft papers filed with Securities and Exchange Board of India (Sebi) showed. Besides, the company plans a pre-IPO placement of up to 50 lakh equity shares for up to Rs 125 crore. Funds raised through the issue will be used for payment of certain loans and other general corporate purposes. This is the company's third attempt to hit the capital market. Earlier, AGS had filed initial papers with Sebi in 2015 to raise up to Rs 1,350 crore through an initial public offer (IPO). It had secured the regulator's go ahead .
5 platforms helping entrepreneurs to be future-ready
In a country with a relatively greater proportion of younger people who aspire to be an entrepreneur, companies are actively working to create ease in the jumbling lives of youth.The millenial generation is so hard at work that they always feed on platform that can add comfort and structure to their future planning's. This year's World Entrepreneur Day is the perfect occasion to draw attention to the wide variety of challenges that today's entrepreneurs face in their daily lives.Here are few platforms that are important for today's Entrepreneurs to be future ready:Paytm for Travel requirementsPaytm, owned by One97communications limited, is India's largest payments company. It has acquired a significant share of India's online travel market within a very short span of time. With attractive cash back offers and simplified user experience they have no doubt become a public choice in terms of planning Travel schedules of a person.Udacity for Learning and skill developmentUdacity is a ...
Nifty August futures at small premium
Turnover on NSE's F&O segment rises
Underpaid CEOs tend to engage more in layoffs: Study
CEOs who are paid lesser than their peers are four times more likely to engage in layoffs, a new research has found.
AI will be everywhere in next 10 years: Gartner
The rate at which deployment of Artificial Intelligence (AI) technology is increasing, it will be widely available to the masses in the next 10 years, says a new Gartner report.
Amid flat trade Sensex, Nifty settle at new record closing highs
The key Indian equity indices provisionally ended at fresh record closing levels on Tuesday with nominal gains amid a largely choppy trade.
Cygni Energy raises USD 6.4 million to drive growth, expansion
Solar-DC solutions startup Cygni Energy today announced it has raised USD 6.4 million through a combination of equity and debt. The equity funding is led by Endiya Partners, an early-stage venture capital firm that invests in product startups, and the debt by IndusInd Bank, the company said in a statement. According to the statement, the funds will help the startup in expanding capacity, strengthening R&D capabilities and increasing market reach. Cygni manufactures one of the most efficient solar controllers and had raised an initial funding in 2014. It was the first company to be recognised under Startup India programme, it said. The company is also boosting its leadership team and has roped in Paramjit Singh as Chief Operating Officer, who was earlier serving as Circle Chief Technology Officer with Airtel, the firm said. The startup has received a grant from Millennium Alliance (Ficci in partnership with USAID, TDB, and World Bank) for developing Solar-DC microgrid systems. The .
Indices settle at lifetime high
Key benchmark indices settled with small gains after a quiet session of trade. The barometer index, the S&P BSE Sensex, rose 7 points or 0.02% to settle at 38,285.75. The Nifty 50 index rose 19.15 points or 0.17% to settle at 11,570.90. The Sensex and the Nifty, both, attained record high on intraday as well as closing basis.
Quick Wrap: Nifty Realty Index declines 1.80%
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Adani Green Energy acquires AGEPteL to invest in intl renewable biz
Adani Green Energy today said it has acquired 100 per cent stake of Adani Green Energy Pte Ltd (AGEPteL) from its Group firm Adani Global Pte Ltd. AGEPteL was incorporated in March 2017 for investment in international renewable businesses, a BSE filing said. According to the filing, AGEPteL has authorised and paid-up share capital of USD 2,000 with no turnover as on March 31, 2018. AGEPteL is acquired with an objective of having the benefit of synergy and make it an investment arm of Adani Green Energy for international renewable businesses. After this acquisition, AGEPteL has become a wholly-owned subsidiary of Adani Green Energy. The shares are acquired at face value of USD 1 each share.
MCA seeks clarifications from Jet Airways auditors on deferring results announcement
The Ministry of Corporate Affairs is seeking clarifications from the auditors of Jet Airways on the airline deferring announcement of its June quarter results, sources said. The board of crisis-hit Jet Airways -- which is working on ways to reduce costs amid financial woes -- on August 9 deferred the matter of consideration of the unaudited financial results for the June quarter. Sources said the ministry is seeking clarifications from the auditors of Jet Airways on delay in announcement of results. The auditors are believed to have issues regarding the airline being a going concern, they added. In accounting parlance, the going concern assumption means that the company would remain in business for the foreseeable future without being forced to halt operations and liquidate its assets. Markets regulator Sebi is also looking into the airline delaying the June quarter results. The airline's board is scheduled to meet on August 27 to consider and approve the unaudited financial results ..
Analysis: Britain can't afford to close door to EU banks after Brexit
LONDON (Reuters) - Britain is expected to keep the door open for European Union banks and investors after Brexit to try to preserve London's global financial clout, irrespective of whether it gets a good trade deal from the bloc, bankers and industry officials say.
Foreign automakers oppose Trump NAFTA plan as U.S-Mexico talks resume
WASHINGTON (Reuters) - Foreign-brand automakers with U.S. plants do not support Trump administration rules to raise the amount of local content in North American-made vehicles, a group representing companies including Toyota Motor Corp, Volkswagen AG and Hyundai Motor Co has told key U.S. lawmakers.
Overall HCP India market grew 23.1% in Q2, HP leads: IDC
The HCP (Inkjet, laser, SDM and line printers) market in India posted the highest growth (year-on-year) of 23.1 per cent in the second quarter of 2018, with HP (excluding Samsung Print) maintaining its leadership with 40.3 per cent market share and a 5.3 per cent growth (year on year), an IDC report said on Tuesday.