Page 2975 - Business Finance
Maruti Suzuki launches "Auto Gear Shift" in top variants of Swift
Automobile major Maruti Suzuki India on Wednesday launched the "Auto Gear Shift" (AGS) option in the top-end variants of its Swift hatchback.
Airbnb cancels Great Wall sleepover competition
US-based home rental website Airbnb has called off a contest offering its users a chance to spend a night on the iconic Great Wall of China, official Chinese media reported on Wednesday.
Need to set up water regulatory authority on lines of power & telecom sectors, says ASSOCHAM-KPMG study
The report added that with fossil fuels having the biggest water footprint, energy sector is inextricably linked with water since almost all forms of energy production rely on the supply of water. It further said that lack of regulatory authority is hampering the growth of water sector in India more so considering the enormous challenges and multiple disputes around allocation of water.
Maruti introduces AGS in top trims of Swift
Maruti Suzuki India (MSI) today introduced auto gear shift (AGS) option in top-end variants of its premium hatchback Swift, priced up to Rs 8.76 lakh (ex-showroom Delhi). The top-end petrol variant of the model with AGS is priced at Rs 7.76 lakh while the top-end diesel trim is tagged at Rs 8.76 lakh. At the launch of new Swift in February this year, the company had offered AGS transmission in VXI, ZXI, VDI and ZDI variants. "We had customer feedback seeking convenience of AGS in the high-selling top-end variants. Accordingly, we are now offering AGS in the top-end ZXI+ and ZDI+ variants," MSI Senior Executive Director (Marketing and Sales) R S Kalsi said in a statement. This will further strengthen the brand Swift and enhance the popularity of MSI's two-pedal technology, he added. Since its launch in 2005, Swift cumulatively has sold over 1.9 million units in India.
Hindustan Zinc Ltd gains for five straight sessions
The stock is quoting at Rs 286.1, up 0.12% on the day as on 12:44 IST on the NSE. Hindustan Zinc Ltd is down 0.19% in last one year as compared to a 15.48% gain in NIFTY and a 2.38% gain in the Nifty Metal.
ZipGo gets Rs 300 cr funding from Essel Green Mobility
ZipGo, an app-based provider of intra-city and inter-city bus services in India, today said it has raised Rs 300 crore in funding from Subhash Chandra-led Essel Group. The series B funding is by Essel Green Mobility (EGM), a subsidiary of Essel Infraprojects Ltd (EIL) -- the infrastructure arm of the Essel Group, a statement said. "The investment is in line with EIL's foray into electric vehicle segment this year," the statement said. EGM is the holding company for the electric-vehicles and green mobility initiatives of EIL. EIL has a diversified portfolio of infrastructure projects across 10 business verticals. "This investment will be used to transition to a fleet of 100 per cent electric buses, expand our fleet and routes network in existing cities and starting operations in new cities," Pritesh Gupta, co-founder and COO of ZipGo, said. He added that the investment will also help in expanding operations in smaller cities such as Udaipur, Indore, Bhubaneswar, Mangalore, Tirupati ..
Strides Pharma Q1 net loss at Rs 4 cr
Strides Pharma Science today reported a consolidated net loss of Rs 4.16 crore for the quarter ended June 30. The company had posted a net profit of Rs 5.78 crore in April-June 2017, Strides Pharma said in a BSE filing. Consolidated revenue from operations stood at Rs 663.46 crore for the quarter under review. It was Rs 657.78 crore for the same period a year ago. Shares of the company were trading at Rs 416.40 per scrip on BSE, up 6.20 per cent from the previous close.
Most Indians spend 6-10hrs on online research to plan holidays
Almost 42 per cent Indians spend an average six to 10 hours researching online for deals on hotels, airlines or combo offers before booking a week-long holiday, according to a survey. Around 23 per cent spend 11-30 hours and 20 per cent spend more than 30 hours on research and planning while booking a week-long holiday, the survey conducted by Access Media International, on behalf of Expedia, showed. Interestingly, the survey also revealed that 14 per cent respondents have fought with their spouses for spending too much time researching before booking a holiday. The survey was conducted online from May 30 to June 25, across Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Pune, among 600 employed adults aged 18 years and above. It showed that 93 per cent respondents book their hotels within a week of booking their flights tickets. However, if there is a hotel discount, 27 per cent would book immediately, while a total of over 90 per cent will book within the offer ...
Hike in Custom Duty on Textile Products in direction to encourage domestic manufacturing: FICCI
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Ivanka Trump thanks 'mentor and inspiration' Indra Nooyi
An adviser to her father President Donald Trump, Ivanka Trump has said that Indra Nooyi has been her mentor and inspiration as she expressed her gratitude for the outgoing PepsiCo chief's passionate engagement on various social issues. "The great @IndraNooyi is stepping down as PepsiCo CEO, after 12 yrs. Indra, you are a mentor + inspiration to so many, myself included," Ivanka tweeted. Ivanka said she is "deeply grateful" for Nooyi's friendship and thanked the Chennai-born executive for her "passionate engagement on issues that benefit the people of this country, and beyond." In 2016, Nooyi had joined a 19-person Strategic and Policy Forum created by then President-elect Trump as he prepared his economic agenda for the US. However, the forum disbanded in August 2017 in the wake of Trump's confrontational response to a violent white supremacist rally in Charlottesville, Virginia. PepsiCo's Board of Directors unanimously elected Ramon Laguarta, 54, to succeed Nooyi, 62, as Chief ...
Pradhan to launch DSF-II bid round tomorrow
Petroleum Minister Dharmendra Pradhan will tomorrow open the second round of bidding for discovered oil and gas fields with 26 areas on offer, an official statement said. In the first round of bidding for Discovered Small Fields (DSF) last year, 134 bids were received for 34 blocks out of 46 on offer. A total of 30 contracts were awarded to 20 companies, of which 13 were new entrants in the exploration and production sector, the statement said adding oil/gas from these fields is expected in 2019-20. "Encouraged with the success of Round-I and looking at the massive interest from industry especially from the private sector, the government is now rolling out DSF bid Round-II which is offering larger field areas in commercially producing basins," it said. The 60 discoveries clubbed into 26 contract areas spread over 3,100 sq km and eight sedimentary basins will be put on offer. The fields are being offered in Rajasthan, Gujarat, Kutch & Cambay shallow waters, Mumbai offshore, Assam ..
Kapas futures gain on spot cues
Kapas prices went up by Rs 2.50 to Rs 1,200.50 per 20 kilo in the futures trade today as traders created holdings in line with emerging physical markets. Marketmen said, the uptrend in the spot markets was due to gearing up in demand for fibre unit and textile industries along with shortage of stock on halt in supplies. At the National Commodity and Derivatives Exchange, kapas delivery for April gained by Rs 2.50, or 0.21 per cent, to Rs 1,200.50 per 20 kg, in a business turnover of 2,693 open lots.
China to make targeted RRR cuts to support debt-to-equity swaps: state planner
BEIJING (Reuters) - China will use policy tools such as targeted cuts in banks' reserve requirement ratio (RRR) to support debt-to-equity swaps this year as it seeks lower corporate debt levels, the country's state planner said on Wednesday.
Mustard seed futures rise on physical demand
Mustard seed prices showed a moderate fall of Rs 5 at Rs 4,141 per quintal in futures trade today as traders reduced holdings amid lower demand in the spot markets. Marketmen attributed the fall in mustard seed futures to reduced demand from oil mills, triggered by ample stocks in the spot markets. At the National Commodity and Derivatives Exchange, mustard seed for September dropped by Rs 5, or 0.12 per cent, to Rs 4,141 per quintal, clocking an open interest of 1,05,850 lots. Also, the delivery for August went down by Rs 4, or 0.10 per cent, to Rs 4,093 per quintal, having an open interest of 51,910 lots.
Bajaj Finance Ltd spurts 1.38%, up for third straight session
The stock is quoting at Rs 2785.15, up 1.38% on the day as on 12:49 IST on the NSE. Bajaj Finance Ltd is up 64.05% in last one year as compared to a 15.51% gain in NIFTY and a 17.42% gain in the Nifty Financial Services index.
Ashok Leyland Ltd up for third straight session
The stock is quoting at Rs 124.65, up 4.27% on the day as on 12:49 IST on the NSE. Ashok Leyland Ltd is up 13.73% in last one year as compared to a 15.51% jump in NIFTY and a 0.52% jump in the Nifty Auto index.
Exide Industries Ltd up for five straight sessions
The stock is quoting at Rs 285.5, up 0.04% on the day as on 12:44 IST on the NSE. Exide Industries Ltd is up 37.79% in last one year as compared to a 15.48% gain in NIFTY and a 0.57% gain in the Nifty Auto.
Guar gum futures decline by Rs 137 on profit booking
Guar gum prices declined by Rs 137 to Rs 9,390 per quintal in futures trade today as selling emerged at higher levels in anticipations with subdued physical markets lead. Marketmen said, besides profit booking by the investors at existing levels, slackness in export demand for oil drilling industries along with a weak trend in the spot markets mainly exerted pressure on the prices of guar gum futures. At the National Commodity and Derivatives Exchange, guar gum delivery for October dipped by Rs 137, or 1.44 per cent, to Rs 9,390 per quintal,in a business turnover of 63,845 open lots. Similarly, the delivery for November plunged by Rs 113, or 1.18 per cent, to Rs 9,493 per quintal, mirroring open interest of 2,720 lots.
Soybean futures slide on profit booking
Soybean prices met with resistance at prevailing levels, falling by Rs 18 to Rs 3,373 per quintal in futures trade today due to selling by operators on weak global clues. Marketmen attributed the down trend in soybean futures to weak global cues. At the National Commodity and Derivatives Exchange, soybean delivery for November eased by Rs 18, or 0.53 per cent, to Rs 3,373 per quintal, depicting an open interest of 23,650 lots. In a similar way, the delivery for October shed Rs 16, or 0.47 per cent, to Rs 3,377 per quintal, in a business turnover of 53,230 open lots.
Guar seed futures fall on low demand
Guar seed prices came down by Rs 31.50 to Rs 4,370.50 per quintal in futures trade today on trimming of positions by participants, dampened by negative physical cues. Marketmen said, falling prices in the spot markets due to the mounting of stocks amid slackness in demand from guar gum makers, influenced the price of guar seed futures. At the National Commodity and Derivatives Exchange, guar seed delivery for November receded by Rs 31.50, or 0.72 per cent, to Rs 4,370.50 per quintal, revealing an open interest of 6,460 lots. In a similar manner, the delivery for October was enquired lower by Rs 21, or 0.48 per cent, to Rs 4,343 per quintal with an open interest of 1,07,540 lots.