Page 2778 - Business Finance
Exclusive: China's Sany Group plans $2 billion spin-off, taps PE firms - sources
HONG KONG (Reuters) - China's leading heavy machinery maker Sany Group plans to spin off four business units and is looking to rope in private equity (PE) firms as investors for the deal that could fetch a total of $2 billion, sources told Reuters.
Gold rebounds on positive global leads, jeweller-buying
Gold prices recovered by Rs 170 to Rs 30,420 per 10 grams at the bullion market today on the back of firm global trend amid fresh buying by local jewellers. Silver followed suit and edged higher by Rs 100 to Rs 38,100 per kg due to increased offtake from industrial units and coin makers. Traders said sentiment turned better on firm trend overseas as hopes of easing trade tensions between the US and China exerted pressure on the dollar, adding to demand for the yellow metal that improved last week after prices touched 19-month low. Globally, gold rose 0.24 per cent to USD 1,187.40 an ounce and silver inched 0.10 per cent higher to USD 14.78 an ounce in Singapore. Furthermore, pick-up in buying by local jewellers to meet ongoing festive season demand also supported the upmove, they said. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 170 each to Rs 30,420 and Rs 30,270 per ten grams, respectively. It had shed Rs 90 in Saturday's trade. Sovereign .
HfS positions L&T Technology Services in 'Winner's Circle' for Automotive Engineering Services
L&T Technology Services (NSEThe HfS Report evaluated LTTS across both the value chain and product development lifecycle and acknowledged the company's expertise in these domains.LTTS has developed autonomous vehicle features solutions in collaboration with a Chinese Tier-1 company, partnered with a German automotive OEM to develop electric vehicles and developed telematics platforms for connected car development.HfS in its report also highlighted LTTS' unparalleled expertise in the Off-Highway segment."LTTS has the highest presence in the off-highway vehicle sector among all the service providers evaluated for this Blueprint report. It has worked on new product development and hydraulic hybrid solution areas with off-highway OEMs," the report stated.It added that LTTS' percentage of clients with long-term 5+ year contracts is one of the highest among the service providers.LTTS counts 11 of the top 20 automotive OEMs and 25 of the top 100 auto parts suppliers as its customers. It ..
CG Power gains after strategic alliance with Tenaga Switchgear
CG Power and Industrial Solutions rose 1.43% to Rs 60.30 at 14:13 IST on BSE after the company said it entered into a strategic alliance agreement with TENAGA Switchgear Sdn. Bhd., Malaysia.
Indices hold firm
Firmness prevailed on the bourses in mid-afternoon trade on steady buying demand in index pivotals. At 14:19 IST, the barometer index, the S&P BSE Sensex, was up 368.16 points or 0.97% at 38,316.04. The Nifty 50 index was up 87.35 points or 0.76% at 11,558.10. Oil & gas stocks gained. IT stocks saw mixed trend. Positive global stocks boosted sentiment on the domestic bourses.
'Bag rage' slows sales at Australian grocery giant Woolworths
SYDNEY (Reuters) - Australia's biggest grocer Woolworths Group flagged on Monday it had rapidly lost sales momentum after starting to charge shoppers for plastic bags, sending its shares lower.
Mobiistar appoints new VP for sales in India
Vietnam-based smartphone maker Mobiistar on Monday appointed Hardeep Singh Johar as the Vice President for Sales (North and East) in India.
Palmolein oil up on fresh buying
Palmolein oil prices edged up by Rs 50 per quintal at the wholesale oils and oilseeds market in the national capital today on scattered buying by retailers. However, other edible and non-edible oils moved in a narrow range in limited deals and pegged at last levels. Traders said some enquiries from retailers mainly attributed the rise in palmolein oil prices. In the national capital, palmolein (RBD) and Palmolein (Kandla) oils were up by Rs 50 each to Rs 6,700 and Rs 6750 per quintal respectively. Following are today's quotations (in Rs per quintal): Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900, Vanaspati Ghee (15-litre tin) Rs 800-1,000. Edible oils: Groundnut mill delivery (Gujarat) Rs 9,500, Groundnut Solvent Refined (per tin) Rs 1,800-1,900, Mustard expeller (Dadri) Rs 8,300, Mustard Pakki Ghani (per tin) Rs 1,295-1,340, Mustard Kachi Ghani (per tin) Rs 1,345-1,445, Sesame mill delivery Rs 10,200, Soybean Refined mill delivery (Indore) Rs 7,700, ...
Ola kicks off UK operations with South Wales
Ride hailing platform Ola today said it has started its services in the UK market beginning with South Wales. "Ola has today started its first UK services across South Wales, including in Cardiff, Newport and Vale of Glamorgan... It will be the only ride-hailing app in south Wales to offer customers the option of private hire vehicles (PHVs) and taxis on one user-friendly platform," Ola said in a statement. It added that the company is offering commission rates at 10 per cent for PHV drivers and 5 per cent for Taxis as well as payments made daily - to help driver partners earn more money and access it easily. "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 determined to do a great job for the community and work closely with local authorities to help with their mobility goals," Ola UK Managing Director Ben Legg said. Ola said it is working with local authorities
Foreign casino operators go all in as they vie for Osaka licence
OSAKA (Reuters) - In late July, a lavish fireworks display lit up Osaka's skies in the finale to one of Japan's most famous festivals, courtesy of a first-time sponsor: Macau casino operator Melco Resorts and Entertainment Ltd.
Trend Micro's 'virtual patching' to protect firms against cyber attacks
Cybersecurity solutions leader Trend Micro on Monday announced a non-disruptive approach called "Virtual Patching" to help its customers shield vulnerabilities in critical systems until a security patch is available.
Market extends intraday gains
Shares extended gains and hit fresh intraday high in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was up 350.53 points or 0.92% at 38,298.41. The Nifty 50 index was up 88.20 points or 0.77% at 11,558.95. Positive global stocks boosted sentiment on domestic bourses.
BSE to delist 17 companies from tomorrow
Leading stock exchange BSE will delist as many as 17 companies from tomorrow as trading in their shares has remained suspended for over six months. The exchange has been delisting for the past few months those firms in which trading has remained suspended for a long period. In a circular, BSE today said, "17 companies that have remained suspended for more than 6 months would be delisted from the platform of the exchange, with effect from August 21, 2018 pursuant to order of the delisting committee". These companies are -- Associated Marmo & Granites, Baroda Electric Meters, Bihar Air Products, Cana Glass, Graphic Charts, IAG Company, Kiev Finance, Mahavir Impex, Neelkanth Motels & Hotels, Prithvi Information Solutions, Realtime Finlease and Sibar Media & Entertainment. Besides, Sudar Industries, Valuemart Retail Solutions, Graham Firth Steel Products India, Spartek Ceramics India and Yule Financing & Leasing Company are also facing delisting. According to the exchange,
Shares of Page Industries touch 52-week high on bourses
Shares of Page Industries today rose for the fifth consecutive session and rose 3 per cent to its 52-week high of Rs 35,049.90 on bourses. On August 13, MSCI, a leading provider of benchmark indices globally, had said that Page Industries has been added in the MSCI India Domestic Index. The changes in constituents for the MSCI India Domestic Index will take place as of the close of August 31, 2018, MSCI had said. The shares of the company today opened on a bullish note at Rs 34,144, then gained further ground and touched its 52-week high of Rs 35,049.90, up 2.95 per cent over its previous closing price. Similar movement was seen on NSE as well, where the stock opened at Rs 34,130, then touched its 52-week high of Rs 35,080, up 3.14 per cent over its last close. Since August 10, the share has surged 11.48 per cent and since the start of this year the stock has jumped as much as 37.65 per cent. Bengaluru-based Page Industries is the exclusive licensee of Jockey International Inc (USA) ..
Cadila Healthcare Ltd soars 5.67%, up for third straight session
The stock is quoting at Rs 377.5, up 5.67% on the day as on 12:49 IST on the NSE. Cadila Healthcare Ltd is down 20.23% in last one year as compared to a 18.49% gain in NIFTY and a 15.26% gain in the Nifty Pharma index.
Godrej Consumer Products Ltd spurts 2.72%, gains for third straight session
The stock is quoting at Rs 1382.5, up 2.72% on the day as on 12:49 IST on the NSE. Godrej Consumer Products Ltd is up 53% in last one year as compared to a 18.49% spurt in NIFTY and a 26.56% spurt in the Nifty FMCG index.
Mahindra & Mahindra Ltd soars 1.11%
The stock is quoting at Rs 972.15, up 1.11% on the day as on 12:49 IST on the NSE. Mahindra & Mahindra Ltd is up 41.03% in last one year as compared to a 18.49% spurt in NIFTY and a 3.94% spurt in the Nifty Auto index.
IDFC Bank Ltd gains for third straight session
The stock is quoting at Rs 47.5, up 1.93% on the day as on 12:49 IST on the NSE. IDFC Bank Ltd is down 13.08% in last one year as compared to a 18.49% jump in NIFTY and a 18.28% jump in the Nifty Bank index.
Australian 'bag rage' slows sales at grocery giant Woolworths
SYDNEY (Reuters) - Australia's biggest grocer Woolworths Group flagged on Monday it had rapidly lost sales momentum after starting to charge shoppers for plastic bags, sending its shares lower.
Gold gains on bargain hunting; U.S.-China trade talks in focus
BENGALURU (Reuters) - Gold edged higher on Monday as investors found the metal attractive after prices fell to a 19-month low last week, while a rising dollar weighed on the market ahead of planned U.S.-China trade talks.