Page 3 - Business Finance
Trading turns volatile
Indices witnessed a bout of volatility in mid-morning trade. Both the key barometers wiped off day's gains and briefly slipped into negative terrain. At 11:15 IST, the barometer index, the S&P BSE Sensex, was now up 52.23 points or 0.13% at 39,487.17. The Nifty 50 index also bounced back and was now up 21.85 points or 0.19% at 11,818.30.
Reliance Power reverses 2-day slump
Reliance Power jumped 7.98% to Rs 4.33 at 10:53 IST on BSE on bargain hunting after a recent slump.
Reliance raises $1.85 billion long-term loan to infuse into Jio
Mukesh Ambani-led Reliance Industries has signed pacts with overseas lenders to avail long-term loans of 1.85 billion dollars (about Rs 12,850 crore) to finance its capital expenditure for the telecom arm.The fund-raising comes amid reports of the company planning to infuse as much as Rs 20,000 crore into Jio to bolster broadband and e-commerce play ahead of a potential entry into 5G mobile telephony services in future."The company has entered into agreements with offshore lenders for availing long term loans aggregating 1.85 billion dollars, primarily for meeting a part of its planned capital expenditure in the normal course of its business," it said in a statement.Reliance on an ongoing basis evaluates financing opportunities with lenders in the normal course of business. "If any of such proposal requires disclosure to the stock exchanges under Clause 30 of SEBI LODR Regulations 2015, the company will make such disclosure at the time and in the manner prescribed under the applicable
Volumes soar at Century Plyboards (India) Ltd counter
Century Plyboards (India) Ltd recorded volume of 6.37 lakh shares by 10:49 IST on BSE, a 117.75 times surge over two-week average daily volume of 5406 shares
Ducon inks pact with Sterling & Wilson to bid for large FGD projects in India
Ducon Infratechnologies Wednesday said it has entered into a strategic partnership with Shapoorji Pallonji group firm Sterling & Wilson to jointly bid for large size Flue Gas Desulfurization (FGD) tenders in India. "The joint bidding exercise has significantly expanded our financing capabilities to bid successfully for large FGD projects which were earlier not biddable solely by them or us as an individual entity and has created a win-win situation for both the parties," Ducon Infratechnologies said in a regulatory filing. Sterling & Wilson is an engineering, procurement and construction (EPC) company in the area of renewable energy, construction, and transmission and distribution. Ducon Infratechnologies said considering the massive influx of FGD tenders, the company had decided to capitalise on the maximum FGD project opportunities by either sole bidding on smaller projects or joint bidding with another reputable EPC company on large FGD projects.
Adani Power says resolution plan for GMR Chhattisgarh approved
A consortium of lenders led by Axis Bank has issued a letter of intent approving Adani Power's resolution plan to acquire controlling equity stake and restructure debt in GMR Chhattisgarh Energy Limited (GCEL).The resolution plan was submitted by Adani Power in response to an invitation issued on behalf of the lenders of GCEL, seeking bids for the acquisition of controlling equity stake and restructuring of debt of GCEL.Post the transaction, Adani Power will hold 100 per cent equity stake in GCEL. Of this, 52.38 per cent stake will be acquired from the lenders, and the balance 47.62 per cent from the GMR Group, the company said in a statement.GCEL owns an operational 1,370-megawatt supercritical thermal power plant at Raikheda in Raipur district of Chhattisgarh. The plant consists of two units of 685 MW each, commissioned in June 2015 and April 2016.After the approval of the resolution plan by the committee of creditors of Korba West Power Company Limited (KWPCL) on April 8, Adani ...
SpiceJet takes off after launching new flights
SpiceJet was up 3.99% to Rs 130.20 at 10:31 IST on the BSE after the company said it launched eight new non-stop international flights.
US stocks end in the red
Tech stocks suffer the most losses
DHFL slips after defaulting on commercial papers repayment
DHFL was down 1.72% to Rs 74.10 at 09:43 IST on the BSE after the company said it managed to meet 40% of its Rs 375-crore repayment commitment toward commercial papers.
DHFL spurts after paying interest on NCDs
Dewan Housing Finance Corporation was up 4.06% to Rs 93.60 at 09:44 IST on the BSE, after the company announced that it had made full payment towards interest payable on secured redeemable non-convertible debentures.
Equities gain some ground, Nifty hovers around 11,820
Equity benchmark indices opened in the red on Wednesday but gained some ground as the trading progressed despite weak cues from Asian markets.At 10:15 am, the BSE S & P Sensex was up 90 points at 39,525 while the Nifty 50 gained 20 points to 11,817. Except metal and PSU bank, all sectoral indices at the National Stock Exchange were in the green.Among stocks, Power Grid traded 2 per cent higher while power utility major NTPC was up 1.8 per cent. The others which showed gains were Larsen & Toubro, Sun Pharma and ONGC.However, Bharat Petroleum Corporation, Indian Oil, Indiabulls Housing Finance, Britannia and Tata Steel were in the red.Meanwhile, Asian stock markets slipped after overnight losses on the Wall Street as Washington's conflict with trading partners continued.Investors awaited US-China trade talks on the sidelines of upcoming G-20 meeting later this week in Japan. Rising geopolitical tensions between the United States and Iran also kept traders on the edge..
Xoxoday Strengthens it's Leadership Team With Ten New Hires
/ -- A SaaS commerce company, Xoxoday is all ready to strengthen its leadership team with the appointment of ten highly skilled professionals. Xoxoday has recently on-boarded Srivatsan Mohan and Vivek Parihar. They will be working closely with Anindo Bandyopadhyay, VP of Engineering team. Together this terrific trio will lead a 35+ team and aid them in building a robust and engaging Xoxoday platform. Vinod More and Ceeon Karian have joined the Quality Assurance team as the QA Heads and will be managing a team of 12+ members. Their combined knowledge in manual, automation and performance testing, will help Xoxoday with high-quality deliverables and release management for new products. On the sales side, Gurmeet Singh has joined the company as VP for the Account Management department. He has 14 years of sales and business development experience. He will be assisting the company in developing an innovative sales strategy that will help Xoxoday secure future leads. From the marketing ...
Rupee slips 12 paise to 69.48 vs USD in early trade
The rupee opened on a weak note and declined 12 paise to 69.48 against the US dollar in opening trade Wednesday, amid simmering geopolitical tensions in the Middle East and higher crude oil prices. The rupee opened weak at 69.40 at the interbank forex market and then fell further to 69.48, down 12 paise over its last close. The rupee had settled at 69.36 against the US dollar on Tuesday. Forex traders said, rupee is trading in a narrow range as market participants are cautious amid rising tensions between the US and Iran. On the global front, the trade concerns between the US and China, and rising US-Iran tensions are poised to dominate a high-stakes G20 summit from Friday. Besides, strengthening of the American currency in the overseas market weighed on the local unit. Meanwhile, foreign fund inflows and strong opening in domestic equities supported the domestic currency. Brent crude futures, the global oil benchmark, rose 1.60 per cent to USD 66.09 per barrel. Foreign institutional .
Sensex rises over 150 pts; Nifty above 11,800
Domestic equity benchmark BSE Sensex rose over 150 points in early trade Wednesday tracking gains in index heavyweights ICICI Bank, L&T and RIL, amid heavy foreign fund inflow. After swinging over 200 points within the first 15 minutes of trade, the 30-share index pared opening losses to trade 111.08 points, or 0.28 per cent, higher at 39,546.02 at 0930 hours. Similarly, the broader NSE Nifty was quoting 32.60 points, or 0.28 per cent, up at 11,829.05. In the previous session Tuesday, the BSE gauge settled 311.98 points, or 0.80 per cent, higher at 39,434.94; and the Nifty rose 96.80 points, or 0.83 per cent, to 11,796.45. Top gainers in the Sensex pack included PowerGrid, NTPC, Sun Pharma, L&T, ICICI Bank, Axis Bank, Tata Motors, M&M, Vedanta and ONGC, rising up to 2.26 per cent. While, Tata Steel, Bajaj Finance, HUL, TCS, HDFC and IndusInd Bank fell up to 0.26 per cent. According to experts, a positive momentum has been triggered in domestic stock market as monsoon ...
NTPC advances on new order win
NTPC was up 1.62% to Rs 141.15 at 09:25 IST on the BSE after the company announced that it has won 40 megawatts solar projects in auction held by UPNEDA.
Stocks reverse initial losses amid volatility
A bout of volatility was witnessed in early trade as the key indices reversed initial losses triggered by negative Asian stocks. At 9:24 IST, the barometer index, the S&P BSE Sensex, was up 29.55 points or 0.07% at 39,464.49. The Nifty 50 index was up 6.75 points or 0.06% at 11,803.20.
Japan Nikkei extends losses, eyes on G-20
The US share market declined on Tuesday, partly reflecting a negative reaction to a Conference Board report showing a substantial deterioration in U.S. consumer confidence in the month of June. Additional selling pressure was generated in reaction to comments from the U.S. Federal Reserve Chairman Jerome Powell that the U.S. central bank is assessing whether current economic uncertainties call for lower rates, but noted the Fed will take a wait-and-see approach given how rapid recent economic changes have been. On the Wall Street, Dow Jones Industrial Average ended about 179 points lower at 26,548.22. The S&P 500 also closed approximately 0.95% lower at 2,917.38, while the Nasdaq Composite fell 1.51% to close at around 7,884.72.
Australia Market trades softer ahead of G20 Summit
The US share market declined on Tuesday, partly reflecting a negative reaction to a Conference Board report showing a substantial deterioration in U.S. consumer confidence in the month of June. Additional selling pressure was generated in reaction to comments from the U.S. Federal Reserve Chairman Jerome Powell that the U.S. central bank is assessing whether current economic uncertainties call for lower rates, but noted the Fed will take a wait-and-see approach given how rapid recent economic changes have been. On the Wall Street, Dow Jones Industrial Average ended about 179 points lower at 26,548.22. The S&P 500 also closed approximately 0.95% lower at 2,917.38, while the Nasdaq Composite fell 1.51% to close at around 7,884.72.
Edelweiss Financial Services gets revision in credit ratings from ICRA
The rating of [ICRA]Al + indicates very strong degree of safety regarding timely payment of financial obligations. The rating of [ICRA]AA on Non-convertible Debentures Programme of Rs. 466 crore of the Company now stands as [ICRA]AA-. Rating of [ICRA]AA-indicates high degree of safety regarding timely payment of financial obligations carrying very low credit risk.
Stocks may open higher
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 29 points at the opening bell.
