Page 2765 - Business Finance
Indian private shipbuilders risk going under: Association
Indian private shipbuilders have called for a level playing field in the country, failing which they risk going under jeopardizing the livelihood of more than 11.5 lakh families, the Shipyards Association of India (SAI) said.
Comply with Indian laws, IT Minister tells WhatsApp CEO
Union IT Minister Ravi Shankar Prasad on Tuesday told WhatsApp CEO Chris Daniels to comply with the Indian laws and take "suitable" steps to prevent misuse of the instant messaging platform in the country.
Greece officially enters post-bailout era, challenges remain
Greece remains shackled to the austerity demands of its former creditors even though it officially entered its post-bailout era today. Though the country has little fear of new calls for cutbacks from abroad, its hard-won fiscal freedom still carries a high price. In a visit that was heavy on symbolism, Prime Minister Alexis Tsipras travelled today to the western island of Ithaca legendary home of the ancient mariner Odysseus, hero of Homer's Odyssey epic, who spent ten years struggling to get back to his family after the siege of Troy. Speaking to local officials on the island, ahead of an expected televised address to the nation, Tsipras compared Greece's bailout travails with those of Odysseus. "We must remember that the return to Ithaca is not the end of the adventure," he added. Though Greece will no longer have to pass regular checks from creditors to get money it needs to avoid bankruptcy, the country cannot return to the old lax ways that put it in a mess in the first ...
Housing Development & Infrastructure Ltd leads losers in 'A' group
Redington India Ltd, DLF Ltd, Gujarat Fluorochemicals Ltd and Future Lifestyle Fashions Ltd are among the other losers in the BSE's 'A' group today, 21 August 2018.
Zensar partners with PTC ThingWorx
To deliver next-generation loT capabilities
Ganges Securities Ltd leads losers in 'B' group
Ravikumar Distilleries Ltd, BKM Industries Ltd, Simbhaoli Sugars Ltd and Kavveri Telecom Products Ltd are among the other losers in the BSE's 'B' group today, 21 August 2018.
Volumes soar at Kajaria Ceramics Ltd counter
Kajaria Ceramics Ltd recorded volume of 40.95 lakh shares by 14:14 IST on NSE, a 8.3 times surge over two-week average daily volume of 4.93 lakh shares
Gur steady in Delhi, gur Chakku falls in Muzaffarnagar
The wholesale gur (jaggery) market ruled steady in the national capital today with prices by and large after moving in a limited range on small bouts of buying and selling, ended same on last levels. Meanwhile, gur Chakku prices dropped by Rs 200 per quintal in Muzaffarnagar gur markets due to paucity of demand. Marketmen said thin demand due to off-season amid fresh supplies mainly pulled down gur chakku in Muzaffarnagar. In Muzaffarnagar gur Chakku prices dipped by Rs 200 to settle the day at Rs 2,900-3,000 per quintal. Following are today's rates (in Rs per quintal): Gur chakku Rs 3,400-3,500, pedi Rs 3,600-3,700, dhayya Rs 3,700-3,800 and shakkar Rs 3,800-3,900. Muzaffarnagar: Rasket Rs 2,650-2,700, chakku Rs 2,900-3,000, khurpa NA and Ladoo NA. Muradnagar: Pedi Rs 3,250-3,350 and dhayya NA.
Festive cheer, global cues keep gold up at Rs 30,600
More buying by local jewellers amid festive cheer coupled with firm global cues shot up gold prices to Rs 30,600 per 10 gram at the bullion market today. While the yellow metal rose by Rs 180, silver gained Rs 50 to Rs 38,150 per kg on increased offtake by industrial units and coin makers. Marketmen said the upswing was a result of a firm global trend where gold rose on a weaker US dollar, after US President Donald Trump said he was not thrilled with the Federal Reserve for raising interest rates. Globally, gold rose 0.33 per cent to USD 1,194 an ounce and silver by 0.31 per cent to USD 14.78 an ounce in Singapore. Moreover, persistent buying by local jewellers to meet the ongoing festive season demand at the domestic spot market kept the prices higher, they said. In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed Rs 180 each to Rs 30,600 and Rs 30,450 per 10 gram, respectively. The precious metal had gained Rs 170 yesterday. Sovereign however remained ...
Pharma stocks gain
Key indices gyrated in a small range near the flat line in mid-afternoon trade. At 14:20 IST, the barometer index, the S&P BSE Sensex, was up 15.65 points or 0.04% at 38,294.40. The Nifty 50 index was up 13.75 points or 0.12% at 11,565.50.
RBI Deputy Governor Highlights Measures to Strengthen MSME Lending: FICCI
In his inaugural address, Mr. Vishwanathan highlighted the importance of the MSME sector. "The MSME sector plays an important role in any economy, and India is no exception," he said. Recognising their role as providers of employment and generators of export, the Government and RBI have taken affirmative measures to strengthen the sector. And in order to ensure that the larger entities within the sector do not crowd out the smaller ones, the banks have been given specific targets to address the latter group.
Global Markets: Trump's Fed attack sees dollar dive and stocks struggle
LONDON (Reuters) - Critical comments by U.S. President Donald Trump about the country's central bank held back some stocks on Tuesday, while the dollar fell for the fourth consecutive day in its worst spell since March.
PC Jeweller cuts debt by 10% to Rs 4,064 cr in Q1 FY19
PC Jeweller has cut its net debt by about 10 per cent during the first quarter of the current fiscal to Rs 4,064 crore and targets to bring it down to less than Rs 3,000 crore by September. In an analyst presentation, the company said it has "voluntarily repaid bank debt of Rs 426 crores in Q1 FY19". After the repayment, the company's net debt declined to Rs 4,064 crore as on June 30, from Rs 4,490 crore as on March 31, 2018. PC Jeweller said it has reduced bank liabilities from internal accruals and better realisations from inventory. The company said it has Rs 1,162 crore as cash balance in books of accounts. This fund would be utilised "to further reduce our bank liabilities to less than Rs 3,000 crore by September end", the company said. PC Jeweller has posted 4.5 per cent growth in its net profit at Rs 142 crore during the first quarter of this fiscal. Its sales rose by 14.4 per cent to Rs 2,423 crore for the quarter ended June. Out of total sales, domestic market contributed Rs .
Niti calls for more participation from private sector for Aspirational Districts Programme
Niti Aayog today called for more participation from private players for the success of government's Aspirational Districts Programme which aims to transform 117 most backward districts of the country. Addressing an event here, Niti Aayog CEO Amitabh Kant said overhauling these districts will lead to India's growth as well. "These 117 districts are determined to change the destiny of India within next 3 years. And if they transform, then India will transform itself rapidly as you will get an incremental growth of about 1-1.5 per cent because these districts will become the key drivers of growth," he said at the event organised by Indo-US Chamber of Commerce here. However, the government alone cannot bring this huge transformation and more private players should join the efforts. "We need a huge amount of investment from the private sector. It is not possible for the government alone to bring the change. We need a great partnership between the government and private sector and only this
Jet scrip trades lower on reports of government probe
The scrip of Jet Airways traded lower during the mid-afternoon trade session on Tuesday after reports claimed that the government has initiated a probe against the airline.
Over 22,500 to run8thAirtel Hyderabad Marathon
: Over 22,500 participants will take part in four run categories in the eighth edition of the Airtel Hyderabad Marathon here on August 25 and 26. "Nearly 3,500 runners out of the over 22,500 registered participants coming from different cities from across the country, besides Kenya and Ethiopia, will take part in this year's event. This year women participants constitute 28 per cent," Airtel Hyderabad Marathon Race Director Abhijeet Madnurkar told reporters here. A curtain raiser- a 5K run - will be held onAugust 25 while the marathon will be held on August 26 wherein the 10K, half marathon (21.095 km) and full marathon (42.195 km) will take place, he said. The Airtel Hyderabad Marathon is certified by AIMS (Association of International Marathons and Distance Races), Abhijeet said. The Corporate Trophy for the largest corporate participant was commissioned today to encourage runners form large corporates and build awareness on promoting healthy lifestyles with running.
WhatsApp CEO meets IT Minister, promises to sanitise platform
WhatsApp CEO Chris Daniels on Tuesday met Union IT Minister Ravi Shankar Prasad and promised to step up action to prevent the circulation of fake news and misinformation on its platform.
Govt aid will give capital relief to banks, but stress will remain: Moody's
Moody's Investors Service today said the government's plan to provide more capital support to public sector banks in current fiscal will restore capital adequacy and improve loan-loss coverage at many loss-making banks, but stress will persist. The government plans to provide Rs 65,000 crore of new capital for public sector banks (PSBs) in the year ending March 2019 (fiscal 2019) after infusing Rs 90,000 crore in the prior year. Of the Rs 65,000 crore, the government allocated Rs 11,300 crore to five banks in July. "The large-scale recapitalisation plan, which was meant to improve capital buffers and loan-loss reserves and also support sufficiently strong loan growth, will now be just enough to shore up capital ratios above regulatory requirements because the banks' capital shortfalls have grown larger than the government's initial projection," said Alka Anbarasu, a Moody's Vice President and Senior Credit Officer. Moody's said the PSBs' external capital needs will not grow much ...
Global Markets: Asian stocks up on hopes trade tensions ease, Trump comments hit dollar
TOKYO (Reuters) - Asian stocks rose on Tuesday, supported by hopes Beijing and Washington would dial back trade hostilities, though comments from the U.S. president about the yuan and Federal Reserve policy capped gains and weighed on the dollar.
Cygni Energy raises USD 6.4 million through debt and equity
Cygni Energy, a city-based Solar-DC solutions startup today said it has raised USD 6.4 million through a combination of equity and debt. According to a press release from Cygni, the equity funding is led by Endiya Partners, and the debt by IndusInd Bank. The funds will help the startup in expanding capacity, strengthening R&D capabilities and increasing market reach, it said. Cygni which manufactures efficient solar controllers raised an initial funding in 2014 and was the first company to be recognised under the 'Startup India' programme. The company posted annual revenues of USD 7.8 million for the financial year 2018 and is looking to quadrapulate the growth in the next fiscal, the release said. CEO of Cygni Energy Venkat Rajaraman said, This round of funding will helpthemstrengthen product offeringandenhance customer experience. "It will enable us to achieve our mission of building great products that will facilitate rural development and electrification in our ..