Page 2937 - Business Finance
Volumes spurt at AU Small Finance Bank Ltd counter
AU Small Finance Bank Ltd notched up volume of 271.54 lakh shares by 10:48 IST on BSE, a 646.23 fold spurt over two-week average daily volume of 42019 shares
Board of Hester Biosciences approves fund raising from equity issue and borrowings
At meeting held on 10 August 2018
Rupee to trade near record low over coming year; trade anxiety weighs: Reuters poll
BENGALURU (Reuters) - India's battered rupee will trade in a tight range in the coming year but not far from its historic low, hampered by higher oil prices and as trade tensions hurt emerging markets, a Reuters poll found.
Hinduja Global Solutions Q1 net profit slips 9% to Rs 40 cr
Hinduja Global Solutions (HGS) has reported 9.1 per cent decline in consolidated net profit to Rs 40.3 crore for the June 2018 quarter, impacted by costs related to its AxisPoint Health acquisition. The company's net profit stood at Rs 44.3 crore in the corresponding period of the previous fiscal. Its revenue from operations stood at Rs 1,100.8 crore during the reported quarter, growing 18.7 per cent over the year-ago period. "We had acquired AxisPoint Health, which was a loss making company in the US. While we try and fix this, it's going to take a little bit more time to fix the losses. It's on expected lines...I think one more quarter there will be impact...After that we will be back to normal profitability," HGS CEO Partha DeSarkar told PTI. The other impact has been the increase in minimum wages in Karnataka, he added. On sequential basis, the company's net profit declined 21.6 per cent (from Rs 51.3 crore in March 2018 quarter), while revenue increased 9.7 per cent (from Rs ...
Wheat futures shed 0.51 pc on ample stocks
Wheat prices eased by 0.51 per cent to Rs 1,970 per quintal in futures trade today as speculators cut down holdings amid adequate stocks in the spot market. At the National Commodity and Derivatives Exchange, wheat for delivery in August month contract drifted lower by Rs 10, or 0.51 per cent to Rs 1,970 per quintal with an open interest of 3,360 lots. Market analysts said offloading of positions by traders driven by sufficient stocks position on increased arrivals from producing belts in the physical markets against low demand weighed on wheat prices in futures trade.
Refined soya oil futures rise 0.32 pc on spot demand
Refined soya oil prices went up by 0.32 per cent to Rs 734.05 per 10 kg in futures trade today as speculators built up fresh positions amid pick-up in demand at the domestic spot market against restricted arrivals from producing regions. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September month edged higher by Rs 2.35, or 0.32 per cent to Rs 734.05 per 10 kg with an open interest of 41,350 lots. Likewise, the oil for delivery in August contract was up by Rs 1.95, or 0.27 per cent to Rs 735.35 per 10 kg in 16,390 lots. Analysts said fresh positions created by traders due to pick-up in demand at the spot market against restricted supplies from producing belts mainly led to rise in refined soya oil prices in futures trade.
Zinc futures soften by 0.19% on profit-booking
Zinc prices slipped by 0.19 per cent to Rs 179.50 per kg in futures market today as speculators booked profits amid easing demand at the spot market. At the Multi Commodity Exchange, zinc for delivery in August shed 35 paise, or 0.19 per cent, to Rs 179.50 per kg in business turnover of 4,973 lots. The metal for delivery in September contracts was trading lower by 30 paise, or 0.17 per cent, to Rs 179.65 per kg in 32 lots. Analysts said besides profit-booking by participants, fall in demand from consuming industries in the physical market weighed on zinc prices in futures trade.
Market breadth turns negative
Key benchmark indices continued to trade lower in morning trade. At 10:18 IST, the barometer index, the S&P BSE Sensex, was down 90.65 points or 0.24% at 37,933.72. The Nifty 50 index was down 26.75 points or 0.23% at 11,443.95. The Sensex was trading below the psychological 38,000 level after falling below that level in early trade.
Oil edges up on Iran sanctions, but trade disputes dent demand outlook
SINGAPORE (Reuters) - Oil prices edged up on on Friday on worries that renewed U.S. sanctions against Iran will tighten supplies, although the escalating trade dispute between Washington and Beijing restricted gains.
Nickel futures rise 0.24% on rising spot demand
Nickel prices advanced by 0.24 per cent to Rs 959.40 per kg in futures trade today as participants raised bets, tracking a firm trend at the spot market. At the Multi Commodity Exchange, nickel for delivery in September rose by Rs 2.30, or 0.24 per cent, to Rs 959.40 per kg in business turnover of 26 lots. On similar lines, the metal for delivery in August contracts edged up by Rs 1.80, or 0.19 per cent, to Rs 953.90 per kg in 1,035 lots. Analysts said widening of positions by traders on the back of surging demand from alloy-makers in the spot markets too supported the upmove at futures trade.
Lead futures edge up by 0.10% on positive spot cues
Lead prices inched up by 0.10 per cent to Rs 144.80 per kg in futures trade today as participants built up fresh positions, taking positive cues from the spot market. At the Multi Commodity Exchange, lead for delivery in August edged higher by 15 paise, or 0.10 per cent, to Rs 144.80 per kg in business turnover of 457 lots. Likewise, the metal for delivery in September contracts was trading higher by 10 paise, or 0.07 per cent, to Rs 145.75 per kg in 6 lots. Analysts said fresh positions created by participants after uptick in demand from battery-makers in the physical market led to the rise in lead prices in futures trade.
Jet Airways shares slump after company defers first-quarter results
NEW DELHI (Reuters) - Shares of India's leading full-service carrier Jet Airways Ltd fell as much as 14.5 percent in early trade on Friday after the company deferred its first-quarter results.
Copper moves up by 0.19% on higher demand
Copper prices went up by 0.19 per cent to Rs 421.95 per kg in futures trade today as speculators built up fresh positions, taking positive cues from spot market. At the Multi Commodity Exchange, copper for delivery in August rose by 80 paise, or 0.19 per cent, to Rs 421.95 per kg in business turnover of 646 lots. In a similar fashion, the metal for delivery in November contracts was trading higher by a similar margin to Rs 429.15 per kg in 5 lots. Market analysts said fresh positions created by participants due to uptick in demand from consuming industries in the physical markets, mainly attributed to the rise in copper prices.
Aluminium futures gain 0.52% on rising demand
Aluminium prices strengthened by 0.52 per cent to Rs 144.15 per kg in futures trade today as speculators raised their bets, following pick up in demand at the spot market. At the Multi Commodity Exchange, aluminium for delivery in September edged up by 75 paise, or 0.52 per cent, to Rs 144.15 per kg in business turnover of just one lot. On similar lines, the metal for delivery in August contracts was trading higher by 65 paise, or 0.46 per cent, to Rs 143.10 per kg in 163 lots. Analysts said expanding of positions by participants following pick up in demand from consuming industries in the physical market mainly led to rise in aluminium at futures trade.
Global Markets: Asian shares down on trade anxiety; lira, rouble hit by economic worries
SHANGHAI (Reuters) - Asian stock markets fell on Friday amid heightened global trade tensions, while currency markets were whipsawed by a searing selloff in Russia's rouble after the United States slapped new sanctions, and as economic worries sent the Turkish lira tumbling.
Jet Airways (India) tumbles after board defers Q1 results
Jet Airways (India) fell 6.25% to Rs 282.85 at 9:46 IST on BSE after the company said that its board of directors deferred the matter of consideration of the unaudited financial results for the quarter ended 30 June 2018.
China Market trades mixed
Investors risk sentiments remained subdued amid escalating U.S.-China trade dispute raised concerns about the outlook for global economic growth. The Chinese Ministry of Commerce's announcement of 25% tariff on $16 billion worth of U.S. goods. The goods being targeted by China include large passenger cars and motorcycles as well as various fuels and fiber optical cables. The announcement by China came after the U.S. finalized a list of approximately $16 billion worth of Chinese imports that will be subject to a 25% tariff. The second tranche of tariffs, which are due to take effect on August 23rd, follows the first tranche of tariffs on approximately $34 billion of Chinese imports that went into effect on July 6th.
Board of Talwalkars Better value Fitness approves change in directorate
At meeting held on 09 August 2018
Japan's economy rebounds on brisk spending but trade rifts cloud outlook
TOKYO (Reuters) - Japan's economy grew more than expected in the second quarter, helped by strong household and business spending and recovering from an earlier contraction, but global trade tensions loom as major risks to the export and investment outlook.
Oil edges up on Iran sanctions tightening supply, but trade spat weighs
SINGAPORE (Reuters) - Oil prices on Friday edged up on worries that reimposed U.S. sanctions against Iran would tighten supplies, although the escalating trade dispute between Washington and Beijing held markets back from further gains.