Page 2768 - Business Finance
Jet Airways stock falls 4% on reports of preliminary govt probe
Shares of Jet Airways today fell nearly 4 per cent in morning trade on bourses after reports surfaced that the Ministry of Corporate Affairs has opened a preliminary inquiry into the carrier. As per the media reports, the Mumbai Registrar of Companies (RoC) will inspect Jet's books of accounts. In a regulatory filing, however, the company today said it "has not received any communication from the Ministry of Corporate Affairs in this regard". The shares of the company opened on a weak note at Rs 297.80, then fell to a low of Rs 289.95, down 3.73 per cent over its previous closing price. Similar movement was seen on NSE as well, where the stock opened at Rs 297.40, then fell to a low of Rs 289.65, down 3.89 per cent over its last close. Jet Airways is facing financial stress and on August 9 the company held off from announcing the unaudited financial results for the June quarter. Both BSE and NSE have sought an explanation from the company on this. Meanwhile, a meeting of the board of .
Cardamon up 4% on higher demand
Cardamom prices rise 4 per cent to hit an upper circuit of Rs 1,376.60 per kg in futures trade today as participants built up fresh positions amid pick-up in demand at spot market. Moreover, fears of damage to standing crops and delay in new crop supplies also fuelled the upward momentum. At the Multi Commodity Exchange, cardamom for delivery in far-month October was trading higher by Rs 52.90, or 4 per cent, to hit an upper limit at Rs 1,376.60 per kg in a business turnover of 12 lots. For September, the spice traded higher by Rs 11.50, or 0.82 per cent, to Rs 1,397.80 per kg with trading volume of 47 lots. Analysts said fresh positions created by traders due to pick-up in demand in spot market against tight stocks lifted cardamom prices notably higher.
Guar seed futures dip on subdued physical lead
Guar seed prices plunged by Rs 50.50 to Rs 4,599 per quintal in futures trade today as traders cut positions in tune with downbeat physical cues. Marketmen said, following down trend in the spot markets, where prices traded lower due to easing demand from guar gum makers amid soaring stocks on end less supplies at prevailing levels, traders indulged in cutting down their bets, which reflected down slide in guar seed futures prices. At the National Commodity and Derivatives Exchange platform, guar seed delivery for November slipped by Rs 50.50 or 1.09 per cent to Rs 4,599 per quintal, clocking an open interest of 7,680 lots. In a similar step, the delivery of the most-traded first contract October month dipped by RS 49.50 or 1.07 per cent to Rs 4,569 per quintal, open interest stood at 1,25,940 lots.
Guar gum futures slide on weak export
Guar gum prices dived by Rs 158 to Rs 9,880 per quintal in futures trade today on sell-off bets by the investors dampened by negative physical cues amid weak export demand. Marketmen said investors were down loaded holdings, influenced by subdued physical markets cues, driven by slackness in export demand from oil drilling industries at higher levels, mainly dragged down sentiments in guar gum futures prices. At the National Commodity and Derivatives Exchange counter, guar gum delivery for the November tumbled by Rs 158 or 1.57 per cent to Rs 9,880 per quintal, with an open interest of 3,155 lots. Likewise, the delivery of the most traded first contract October plummeted by Rs 146 or 1,47 per cent to Rs 9,799 per quintal, with the business turnover of 64,120 open lots.
DLF to settle Rs 8,500 cr payable to JV with GIC by 2020
Realty major DLF will settle Rs 8,500 crore payable to its joint venture with Singapore's sovereign wealth fund GIC by 2020, mainly by transferring certain assets, the company said. In the joint venture firm DLF Cyber City Developers Ltd (DCCDL), DLF has 66.66 per cent stake while GIC has 33.34 per cent shareholding. DCCDL currently holds about 27 million sq ft of rent-yielding commercial assets, largely in Gurugram, with annual rental income of about Rs 2,400 crore. The JV was formed in December 2017 when DLF promoters sold entire 40 per cent stake in DCCDL for nearly Rs 12,000 crore. This deal included sale of 33.34 per cent stake in DCCDL to GIC for about Rs 9,000 crore and buyback of remaining shares worth about Rs 3,000 crore by DCCDL. In an analyst presentation, DLF said that about Rs 8,500 crore amount is inter-company payable by DLF Group to DCCDL. "It is anticipated that inter-company payables shall be settled by 2020, largely by transfer of certain identified assets of DLF,"
India tells state oil firm ONGC to list overseas unit
MUMBAI/NEW DELHI (Reuters) - The Indian government has asked its biggest state-owned firm, Oil and Natural Gas, to list its overseas unit ONGC Videsh, according to a letter seen by Reuters.
Oil edges up on tighter U.S. outlook, Iran sanctions
SINGAPORE (Reuters) - Oil prices edged higher on Tuesday as U.S. fuel markets were seen to be tightening while looming American sanctions against Iran were expected to cut supply out of global markets
Capital Float acquires Walnut for $30 mn
Digital lending firm Capital Float today said it has acquired Pune-based Walnut (Thumbworks Technologies) in a deal amounting to USD 30 million (about Rs 208.6 crore). Walnut offers a personal finance management mobile app that helps users to automatically track spends, bank and card balances, bill payments, and split expenses within a group. It has over seven million downloads on Google Play Store. In July 2017, Walnut had launched 'Walnut Prime', a small-ticket, app-based credit line for its users. It recently crossed Rs 100 crore in loans to users. "Their approach towards leveraging technology to solve financial concerns of the common individual was particularly impressive... Walnut Prime is a product of deep interest to us, and it will essentially become a new addition to our stable of exceptional, customised credit products," Capital Float founders Sashank Rishyasringa and Gaurav Hinduja said in a statement. Walnut's 'Prime Credit Score' takes into consideration an alternate data
Realty stocks decline
A divergent trend was witnessed in mid-morning trade as the barometer index, the S&P BSE Sensex, was trading with small losses while the Nifty 50 index was trading with small gains. At 11:23 IST, the barometer index, the S&P BSE Sensex, was down 7.05 points or 0.02% at 38,271.70. The Nifty 50 index was up 3.05 points or 0.03% at 11,554.80. Shares of index heavyweight Reliance Industries gained. Realty stocks fell.
ASSOCHAM Committed To Strengthening Presence In Countries That Boost Growth & Expansion For Indian Business
Powered by Capital Market - Live News
U.S. Federal Reserve's solo act faces tremors in Turkey and a slower Europe
WASHINGTON/SAN FRANCISCO (Reuters) - The U.S. Federal Reserve, deep into a cycle of rate hikes it hopes to continue into 2020, now faces emerging risks from abroad that could short-circuit its plans.
India tells state oil firm ONGC to list overseas unit - letter
MUMBAI/NEW DELHI (Reuters) - The government has asked its biggest state-owned firm, Oil and Natural Gas, to list its overseas unit ONGC Videsh, according to a letter seen by Reuters.
Gold gains as Trump remarks weigh on dollar
BENGALURU (Reuters) - Gold prices climbed on the back of a weaker dollar on Tuesday, extending gains into a third session, after U.S. President Donald Trump said he was "not thrilled" with the Federal Reserve for raising interest rates.
Mentha oil futures gain 0.63% on spot demand
Mentha oil prices up 0.63 per cent to Rs 1,702 per kg in futures market today as participants increased their bets amid rise in demand from consuming industries at the spot market. Besides, tight stocks position on restricted supplies from major growing regions of Chandausi in Uttar Pradesh also supported the upside in mentha oil prices. At the Multi Commodity Exchange, mentha oil for delivery in September was higher by Rs 10.70, or 0.63 per cent, at Rs 1,702 per kg with a business volume of 77 lots. The oil for this month was also up by Rs 8.60, or 0.52 per cent, to Rs 1,667 per kg with a trading volume of 199 lots. Marketmen said widening of positions by traders following pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Now IOC targets clothes ironing shops with gas iron boxes
Energy major Indian Oil Corporation (IOC) is now looking at newer market segments with products like gas powered iron boxes for neighbourhood launderers, value added gas for metal cutting units and bigger gas cylinders for rice mills, food factories and hotels, said a senior official.
Wheat rises by 0.40% on speculative buying
Wheat prices rose by 0.40 per cent to Rs 1,993 per quintal in futures trade today as speculators built up fresh positions. At the National Commodity and Derivatives Exchange, wheat for delivery in September was trading higher by Rs 8, or 0.40 per cent to Rs 1,993 per quintal with an open interest of 4,010 lots. Analysts said fresh positions created by traders on improved demand in the physical market amid pause in arrivals from producing belts influenced wheat prices in futures trade.
Choice International launches online stock trading platform 'JIFFY'
Redefining and revolutionizing the online stock market trading space, Choice Broking has launched its app - Jiffy to enable investment fraternity to trade with speed and ease. 'JIFFY' is a trader-driven & Investor friendly platform which facilitates a single-window and single-click trade for its users without any time lag to cope up with the ever-fluctuating Markets.
Lead inches up by 0.36% on positive spot cues
Lead prices edged up by 0.36 per cent to Rs 138.10 per kg in futures trading today as traders built up fresh positions, taking positive cues from the spot markets on uptick in demand. At the Multi Commodity Exchange, lead for delivery in August traded higher by 50 paise, or 0.36 per cent to Rs 138.10 per kg in business turnover of 1,128 lots. Likewise, the metal for delivery in September edged up by 45 paise, or 0.32 per cent to Rs 139.40 per kg in 9 lots. Analysts said fresh positions created by participants due to upsurge in demand from battery-makers in the physical market and a firm trend in select base metal in global markets, influenced lead prices at futures trade.
Muted demand drags down refined soya oil by 0.29%
Amid easing demand at domestic spot markets against adequate stocks position, refined soya oil prices edged down by 0.29 per cent to Rs 740.50 10 kg in futures trade today as speculators cut bets. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September declined by Rs 2.15, or 0.29 per cent to Rs 740.50 per 10 kg with an open interest of 47,860 lots. Likewise, the oil for delivery in October shed Rs 2.05, or 0.28 per cent to Rs 737.65 per 10 kg in 8990 lots. Traders said off-loading of positions by traders as demand eased in the physical market against ample stocks position on increased supplies from producing regions put pressure on refined soya oil prices in futures trade.
Aluminium gains 0.14% on spot demand, global cues
Aluminium prices inched up by 0.14 per cent to Rs 144.10 per kg in futures trading today as speculators built up fresh positions following improved demand at the spot markets amid firm global cues. At the Multi Commodity Exchange, aluminium for delivery in September was trading higher by 20 paise, or 0.14 per cent, to Rs 144.10 per kg in a business turnover of 3 lots. Similarly, the metal for delivery in August edged up by 10 paise, or 0.07 per cent to Rs 143.20 per kg in 305 lots. Analysts said fresh positions created by participants after uptick in demand from industries in the physical market and a firm trend overseas influenced aluminium prices in futures trade. Meanwhile, at Shanghai futures Exchange aluminium was the biggest gainer, rising 1.5 per cent to 14,635 yuan a tonne, after a similar jump in London yesterday.