Page 2936 - Business Finance
Coriander futures rise 1.43% on spot demand
Coriander prices were trading higher by 1.43 per cent at Rs 5,080 per quintal in futures trade today as participants built up positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing belts also weighed on coriander futures. At the National Commodity and Derivatives Exchange, coriander for September delivery rose by Rs 72, or 1.43 per cent, to Rs 5,080 per quintal with an open interest of 35,330 lots. Similarly, the delivery for this month's contract was trading higher by Rs 67, or 1.35 per cent, to Rs 5,005 per quintal with an open interest of 5,920 lots. Market analysts attributed the rise in coriander futures to the rise in demand in the physical market against tight stocks on fall in supplies from producing regions.
Guar gum futures rise on firm export demand
Guar gum prices rose by Rs 187 to Rs 9,747 per quintal in futures trade today on the accumulation of holdings, powered by a boost in export demand amidst falling domestic currencies against dollar. Marketmen said, a hefty bounce in the export demand for the oil drilling industries due to weakening of the rupee against the American units, motivated traders to build up positions, which kept the guar gum prices higher in futures trade. At the National Commodity and Derivatives Exchange platform, guar gum delivery for the November contract shot up by Rs 187, or 1.96 per cent, to Rs 9,747 per quintal with an open interest of 2,825 lots. The delivery of October contracts sharpened by Rs 172, or 1.82 per cent, to Rs 9,641 per quintal, with an open interest of 64,170 lots.
Cottonseed oil cake futures climb 1.28%
Cottonseed oil cake prices rallied 1.28 per cent to Rs 1,739 per quintal in futures trade today on widened bets by traders, propelled by robust physical market sentiment. Marketmen said shortage of ready stocks due to pause in supplies, triggered by heavy buying by animal feed makers in the spot markets, buoyed the cottonseed oil cake prices towards upside. At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for the current contract August shot up by Rs 22, or 1.28 per cent, to Rs 1,739 per quintal with an open interest of 18,950 lots. In line with the general trend, delivery of September contract also jumped up by Rs 20, or 1.14 per cent, to Rs 1,781.50 per quintal, clocking an open interest of 1,24,130 lots.
Chana prices surges 2.46 pc on robust demand
Chana prices rose further by 2.46 per cent to Rs 4,287 per quintal in futures trade today as participants created fresh positions, driven by rising demand from dal mills in the spot market. Besides, tight inventory positions following drop in arrivals from producing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, chana for delivery in September went up by Rs 103, or 2.46 per cent higher, to Rs 4,287 per quintal with an open interest of 12,040 lots. Likewise, the commodity for delivery in the current month gained Rs 98, or 2.36 per cent, to Rs 4,242 per quintal in 87,720 lots. Analysts attributed the rise in chana prices to surging demand in the spot markets against restricted supplies from producing regions.
Mentha oil extend gains, surge 1.23% on strong demand
Mentha oil was trading higher by 1.23 per cent to Rs 1,655 per kg in futures market today after participants raised bets amid pick-up in demand from consuming industries. Further, restricted supplies from the major producing belts of Chandausi in Uttar Pradesh, too, supported the uptrend. At the Multi Commodity Exchange, mentha oil for delivery in the current month rose by Rs 20.10, or 1.23 per cent, to Rs 1,655 per kg with a trading volume of 583 lots. The oil for September delivery was trading higher by Rs 19.20, or 1.14 per cent, to Rs 1,704 per kg with a trading volume of 76 lots. Marketmen said, raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi led to the rise in mentha oil prices.
Den Networks Ltd leads gainers in 'A' group
Indiabulls Real Estate Ltd, PC Jeweller Ltd, BF Utilities Ltd and Reliance Naval & Engineering Ltd are among the other gainers in the BSE's 'A' group today, 10 August 2018.
Global Markets: Turkish turmoil, rouble woes knock euro, riskier assets
SHANGHAI (Reuters) - Worries over the plunging Turkish lira and Russian rouble pulled the euro lower on Friday and rippled through riskier assets worldwide, sending stock markets lower and buoying safe haven assets such as U.S. Treasuries.
Crude palm oil futures gain 0.69% on firm demand
Crude palm oil prices went up by 0.69 per cent to Rs 597 per 10 kg in futures trade today as speculators widened their positions amid firm demand at the spot market. Besides, a positive trend in overseas markets also supported the upmove. At the Multi Commodity Exchange, crude palm oil for September contract rose by Rs 4.10, or 0.69 per cent, to Rs 597 per 10 kg in a business turnover of 235 lots. Similarly, the oil for delivery this month contract went up by Rs 3.50, or 0.59 per cent, to Rs 597 per 10 kg in 570 lots. Analysts said widening of positions by participants amid pick up in spot demand against tight stock position on restricted supplies from overseas markets kept crude palm oil prices higher.
Metal and mining stocks decline
Weakness persisted on the bourses in mid-morning trade. At 11:27 IST, the barometer index, the S&P BSE Sensex, was down 108.68 points or 0.29% at 37,915.69. The Nifty 50 index was down 37.50 points or 0.33% at 11,433.20. Metal and mining stocks fell.
Jaguar Land Rover July 2018 sales decline 21.6%
Total retail sales stand at 36,144 vehicles
Trade war threatens reign of luxury stocks
LONDON/PARIS (Reuters) - An escalating trade war between the United States and China could abruptly end a glittering stock market run for luxury goods firms, with some investors already put off by lofty valuations in a sector powered by shoppers in the two countries.
Zensar Tech jumps after Q1 results
Zensar Technologies rose 5.98% to Rs 1,267 at 11:23 IST on BSE after consolidated net profit rose 13.32% to Rs 83.91 crore on 11.04% increase in net sales to Rs 904.66 crore in Q1 June 2018 over Q4 March 2018.
Cabinet approves India -Indonesia MoU on Health cooperation
The MoU covers the following areas of cooperation:-
Cardamom futures rise 3.75% on strong demand
Cardamom prices rose 3.75 per cent to Rs 1,165.50 per kg in futures trade today as participants built up fresh positions, tracking strong demand from the domestic spot market. Besides, tight stocks position on fall in arrivals from growing regions also supported the rise. At the Multi Commodity Exchange, cardamom for delivery in September was trading higher by Rs 42.10, or 3.75 per cent, to Rs 1,165.50 per kg in a business turnover of 42 lots. The current month contract of the spice traded higher by Rs 20, or 1.78 per cent, to Rs 1,145 per kg with trading volume of just one lot. Analysts said fresh positions created by traders due to pick-up in demand in spot market pushed up the cardamom prices.
Silver futures ease 0.35% on overseas cues
Taking weak cues from the global market, silver prices moved down by 0.35 per cent to Rs 38,837 per kg in futures trade today as participants reduced their exposure. At Multi Commodity Exchange, silver for delivery in December fell by Rs 136, or 0.35 per cent, to Rs 38,837 per kg in business turnover of 122 lots. Similarly, the white metal for delivery in September contracts traded lower by Rs 109, or 0.29 per cent, to Rs 38,018 per kg in 1,569 lots. Analysts attributed the slide in silver futures to a weak trend in the precious metals overseas. Globally, silver was trading 0.58 per cent down at USD 15.33 an ounce in Singapore.
India arrests former Bhushan Steel MD Neeraj Singhal over alleged fraud
NEW DELHI (Reuters) - Indian authorities arrested a former managing director of Bhushan Steel Ltd on Thursday over an alleged fraud, after a probe found billions of rupees had been siphoned off by the firm's founders from funds borrowed from state-run banks.
IFFCO forays into food processing, forms JV with Spain firm for Rs 325 cr plant
Fertiliser major IFFCO today announced joint venture with Spain's Congelados De Navarra to set up a food processing plant at Ludhiana in Punjab with an investment of Rs 325 crore. With this joint venture, co-operative IFFCO will foray into food processing sector. Congelados De Navarra is a USD 220 million company that has pioneered the individually quick frozen (IQF) technology. It is into processing of vegetables, fruits, herbs and ready-made pre-cooked dishes. "We have formed a JV with Congelados De Navarra to set up a plant in Ludhiana. We have already identified 40-acre land for this purpose," IFFCO's MD US Awasthi told PTI. In the JV, IFFCO will have 30 per cent stake while Congelados De Navarra will have the remaining 70 per cent stake, he added. "The joint venture company will invest 40 million Euros (about Rs 325 crore) to set up a greenfield food processing unit. The foundation stone of this plant would be laid in December and work would be completed in 18 months," Awasthi ...
Jet Airways stock hits 52-week low as board defers Q1 result announcement
Shares of Jet Airways today plunged 14 per cent and touched its 52-week low in morning trade after the company deferred announcing the June quarter numbers. In a BSE filing late last night, the Naresh Goyal-run airline said the board of directors has decided not to review the unaudited financial performance for the June quarter. Following this, the shares of the company today opened on a weak note at Rs 271.55, then fell to a low of Rs 261.60, down 13.29 per cent, over its previous closing price on BSE. Similar movement was seen on the NSE as well, where the stock opened at Rs 271.60, then fell 14.49 per cent to its 52-week low of Rs 258. The stock is on a downward trend for the last six consecutive sessions and has declined by 21 per cent since August 2. Since the start of this year, the stock has tumbled a whopping 69 per cent. "The audit committee did not recommend financial results to the board for its approval, pending closure of certain matters," the airline had said in the ...
Gold futures weaken by 0.09 pc on global cues
Gold prices softened by 0.09 per cent to Rs 29,640 per 10 grams in futures trade today as participants trimmed their positions amid a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in October month declined by Rs 28, or 0.09 per cent to Rs 29,640 per 10 grams in business turnover of 727 lots. Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas. Gold prices fell 0.30 per cent to USD 1,208.50 an ounce in Singapore today.
Crude oil futures edge higher on global cues
Crude oil prices edged up by 0.09 per cent to Rs 4,577 per barrel in futures trade today after participants raised their bets, taking positive cues from the global markets. At the Multi Commodity Exchange, crude oil for delivery in September month rose by Rs 4, or 0.09 per cent to Rs 4,577 per barrel in business turnover of 59 lots. Likewise, the oil for delivery in August contract was trading higher by just Re 1, or 0.02 per cent, to Rs 4,603 per barrel in 3,740 lots. Marketmen said sentiment improved after oil prices edged up in overseas markets on worries that reimposed US sanctions against Iran would tighten supplies. Meanwhile, West Texas Intermediate crude was up by 5 per cent to USD 66.86 a barrel while Brent crude was higher by 13 per cent to USD 72.20 per barrel on the New York Mercantile Exchange.