Page 2773 - Business Finance
Emami denies potential acquisition of health drink brands Horlicks, Complan
Emami has been looking to enter into the fast-growing food segment besides expanding in other verticals
 "Emami denies potential acquisition of health drink brands Horlicks, Complan")
Tesla nears 3-month low as JPMorgan adds to deal doubts
(Reuters) - Tesla Inc shares fell nearly 4 percent on Monday as a $113 cut in JPMorgan Chase's price target for the electric carmaker added to growing doubts among market players about a plan to take the company private.
Wall Street higher on U.S.-China trade talk optimism
(Reuters) - U.S. stock index opened higher on Monday as reports of planned trade talks between the United States and China raised hopes of a potential resolution to their trade spat.
StanChart sells Asia real estate business to Actis: source
LONDON (Reuters) - Standard Chartered has completed the sale of its principal finance real estate business in Asia to private equity firm Actis, a source with direct knowledge of the matter said on Monday.
Leasing activity up 45% across metros in Jan-June 2018: Report
Leasing activity in the logistics and warehousing sector across seven major cities in India rose by 45 per cent during January-June 2018, on a year-on-year basis to around 10 million square feet, a CBRE report said on Monday.
Vicat Group pumps Rs 300cr to expand capacities in India
French cement giant Vicat Group today said it has invested Rs 300 crore this year to expand cement capacities to meet growing demand in south and eastern parts of the country and launched its Vicat brand in India. "To meet the overall 5 per cent growth in cement industry, we have major expansion plans in India. We have chalked out Rs 1,700 crore investment plans by 2021 to increase our cement manufacturing capacity to 13 million tonnes (mt), Vicat India CEO Anoop Kumar Saxena told reporters here. "We have already invested Rs 300 crore this year. Our expansion plan includes setting up of 1.2 mt of bulk cement terminal at Kalamboli in Mumbai and second line of 2.75 mtpa capacity in existing Kalburgi cement plant and establish a grinding unit of 1.7 mtpa capacity at Vizag in Andhra Pradesh to expand our footprint, Saxena said. The company has an integrated cement plant consisting 2 lines in Kadapa district of Andhra Pradesh. The total capacity of group in India is 7.75 ...
Share of imported non-coking coal consumption to fall to 13.4% in FY23: Crisil
Share of imports in non-coking coal consumption is expected to fall to 13.4 per cent in the financial year (FY) 2023 from 19.6 per cent in 2017-18, said a report released on Monday.
Legislate an umbrella law for public credit registry: RBI
Reserve Bank of India (RBI) deputy governor Viral V Acharya today called for enacting a special law to enable the proposed public credit registry (PCR) to come into being, and said this can go a long way in resolving the deep data asymmetry in the financial system which in turn can help prevent bad loan pile-up. With a low credit-to-GDP ratio of a modest 55.7 per cent, the country is still under-penetrated financially and the proposed PCR can help the system move towards more equitable and timely access to credit, especially to the underserved segments, and thus democratise and formalise the credit flow, he said. According to the Q4 2017 data from the Bank for International Settlements, India's credit-to-GDP ratio stood at a low 55.7 per cent, against China's 208.7 per cent, Britain's 170.5 per cent and the US' 152.2 per cent. Norway lead the chart with 245.6 per cent credit-to-GDP ratio. He also said those countries which have PCRs or private credit bureaux have been .
Ola marks UK launch with ride-hailing services in 3 Welsh cities
India's cab-hailing service Ola today started operations across South Wales to mark its UK launch. The Bangalore-headquartered company began its services in Cardiff, Newport and the Vale of Glamorgan and said it will offer additional transportation options on its platform in the future to provide passengers with greater choice. One of the world's largest ride-hailing platforms, which had announced the acquisition of a licence to operate in the region earlier this month, said it is the only cab-hailing app in South Wales to offer customers the option of private hire vehicles (PHVs) and official taxis on one "user-friendly" platform. "This is an exciting moment for everyone at Ola and we are very pleased that South Wales is where we will be starting our UK journey," said Ben Legg, Managing Director of Ola UK. "Over recent weeks, Ola has received positive feedback from drivers in South Wales and looks forward to providing passengers with a dynamic, new responsible service. We are ...
Sebi fines Rs 10 lakh on Omkar Overseas, 3 officials
Markets regulator Sebi today imposed a fine totalling Rs 10 lakh on Omkar Overseas Ltd and its former officials for the delay in disclosure of the company's quarterly result, among others, to stock exchanges. It has levied a fine of Rs 5 lakh on Omkar Overseas, besides, a collective fine of Rs 5 lakh on its then CMD Champalal Gopiram Agarwal, director Shankarlal Gopiram Agarwal, and compliance officer Subhashchandra Omkarmal Agarwal, the regulator said in an order. A probe conducted by Sebi found that the firm had failed to disclose its quarterly results within 45 days from the end of the quarter for three months ended September 2009, December 2009, March 2010 and June 2010 to BSE. Further, the firm had not given prior intimation to the bourse about its board meeting to be held on October 30, 2009, and January 30, 2010, in which September and December 2009 financial results were being considered and did not inform outcome of such meetings. By this, the firm has violated Listing ...
Board of Navneet Education approves buyback of shares up to Rs 75 cr
At meeting held on 20 August 2018
Evolutyz plans to up headcount to 2,000
Evolutyz Corp, a leading next-generation IT products, platforms, and services company, plans to increase its headcount to 2,000 and triple the market cap by 2020.
Brent oil stabilises near $72 as economic concerns weigh
SINGAPORE/MOSCOW (Reuters) - Brent oil stabilised near $72 per barrel on Monday after several weeks of decline, weighed down by concerns over slowing global economic growth but supported by an expected fall in supply from Iran due to U.S. sanctions.
PepsiCo taps healthier drinks market with SodaStream deal
PepsiCo today said it was buying Israeli company SodaStream for USD 3.2 billion as the US beverage giant contends with falling demand for sugar-laden soft drinks among health-conscious consumers. SodaStream makes machines that carbonate home tap water, and both PepsiCo and its arch-rival Coca-Cola have been diversifying away from their mainstay fizzy drinks in part to counter the onset of anti-obesity sugar taxes around the world. SodaStream offers consumers "the ability to make great-tasting beverages while reducing the amount of waste generated", PepsiCo chief executive Indra Nooyi, who is stepping down following 12 years at the helm, said in a statement. Along with the health appeal of its product over traditional soft drinks, SodaStream's reusable bottles are another marketing point exploited by the Israeli company as consumers are urged to shun polluting plastics. Under the cash deal, PepsiCo is to pay USD 144 per share for SodaStream's outstanding stock, a premium of 11 per cent
Nifty extends record run, gains 81 pts
The NSE benchmark Nifty closed at a fresh record closing high of 11,551.75, rising 81 points on strong buying mainly in infra, metal, energy and auto sectors amid positive global cues. A massive recovery in rupee and lower crude prices kept the investors interested in buying activities. Globally, stocks in Europe and Asia rose amid optimism over planned US-China trade talks, while Turkish lira fell after its credit ratings were downgraded and shots were fired outside the US embassy in Ankara. The Nifty 50 index rose 81 points or 0.71 per cent to end at 11,551.75, another fresh record closing high. The index rose 94.55 points at the day's high of 11,565.30, an all-time historic peak. It saw an intra-day movement of about 65.65 points. On the sectoral front, infra surged by 2.75 per cent followed by metal 2.50 per cent, PSU bank 1.96 per cent, energy 1.77 per cent, auto 1.10 per cent, pharma 1.09 per cent, financial service 0.75 per cent, realty 0.65 per cent, media 0.65 per cent, bank .
Sensex, Nifty touch record levels as rupee recovers (Roundup)
Positive global cues on easing trade protectionist measures along with an appreciation in the Indian rupee lifted the key equity indices -- S&P BSE Sensex and the NSE Nifty50 -- to settle at fresh high levels on Monday.
All India traders strike against Walmart-Flipkart deal: CAIT
The Confederation of All India Traders (CAIT) on Monday called for an all India traders strike against the Walmart-Flipkart deal on September 28.
Rupee rebounds from life lows, up 33 paise at 69.82 vs USD
The Indian rupee today made a strong comeback from its life-time low and ended with a stellar 33 paise gain at 69.82 on heavy dollar unwinding and a robust rally in domestic equities. This is the biggest one-day vault against the American currency in seven weeks. After a seemingly endless stream of gloomy news and falling values, sentiment has finally started to show signs of improvement globally against the backdrop of the upcoming visit of Chinese delegates to the US in order to re-engage in trade talks. Easing contagion risk on emerging market currencies after last week's carnage also led to a positive influence on the trading front. The recovery also coincides with the falling inflation levels despite widening trade deficit, which has risen to a near five-year high. The Indian currency had its most turbulent week in more than two years witnessing record lows after doing little to quell investors' fears of a prolonged downturn ahead -- a shock resembling 2013 currency crisis. The ..
Greece on post-bailout 'new chapter' but doubts remain
Greece turned a page on eight years of spending cuts and three straight international bailouts today as experts warned that the country's economic challenges are far from over. "The conclusion of the stability support programme marks an important moment for Greece and Europe," said European Commission President Jean-Claude Juncker, hailing "a new chapter" in the country's "storied history". The European Union, the European Central Bank and the International Monetary Fund loaned debt-wrecked Greece a total of 289 billion euros (USD 330 billion) in three successive programmes in 2010, 2012 and 2015. The economic reforms the creditors demanded in return brought the country to its knees, with a quarter of its gross domestic product (GDP) evaporating over eight years and unemployment soaring to more than 27 per cent. But Greece has now returned to growth, its once vast public deficit has been turned into a solid budget surplus -- before interest payments are made -- and the jobless rate ...