Page 3028 - Business Finance
RBS profits almost wiped out on US fine
Profits at Britain's Royal Bank of Scotland almost evaporated in the second quarter after a vast US fine over its role in the notorious subprime crisis, the lender said today. Earnings after taxation collapsed to just 96 million pounds (USD 125 million) in the three months to the end of June, RBS said in a results statement. That compared with 680 million pounds in the same part of the previous year. Operating profit halved to 613 million pounds over the reporting period. Edinburgh-based RBS was hit by 782 million pounds in litigation and conduct costs in the second quarter. That helped to cover part of the vast settlement reached with US regulators earlier this year over claims it mis-sold mortgages in the run-up to the 2008 global financial meltdown and subsequent worldwide recession. In May, RBS was fined USD 4.9 billion by the US Justice Department over its role in the subprime housing crisis but much of the cost had already been set aside, while the total was less than ...
Stocks hit fresh day's high
Key benchmark indices extended gains and hit fresh intraday high in afternoon trade. At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 328.05 points or 0.88% at 37,493.21. The Nifty 50 index was up 91.50 points or 0.81% at 11,336.20.
Deutsche Bank reports show chinks in money laundering armour
FRANKFURT (Reuters) - Deutsche Bank has uncovered shortcomings in its ability to fully identify clients and the source of their wealth, internal documents seen by Reuters show, more than a year after it was fined nearly $700 million for allowing money laundering.
weak spot demand pulls down maize futures
Maize prices softened by Rs 5 to Rs 1,301 per quintal in futures trade today on liquidation of the holdings in tandem with easing physical markets stance. Marketmen said traders preferred to cut down bets, guided by sluggish demand for poultry feed makers amid ample stocks on steady inflow of supplies from growing belts in spot markets, which dragged the maize prices down in futures trade. At the National Commodity and Derivatives Exchange platform, maize delivery for September traded lower by Rs 5 or 0.38 per cent to Rs 1,301 per quintal, in an open interest of 3,770 lots. Similarly, the delivery of current August quoted lower by Rs 4 or 0.31 per cent to Rs 1,271 per quintal, having an open interest of 6,380 lots.
Tata Motors-DVR eases for fifth straight session
The stock is quoting at Rs 143.4, down 0.07% on the day as on 13:19 IST on the NSE. Tata Motors-DVR tumbled 43.76% in last one year as compared to a 12.54% rally in NIFTY and a 3.15% fall in the Nifty Auto index.
India, Kazakhstan agree to further strengthen defence cooperation
India and Kazakhstan today agreed to further strengthen defence cooperation as External Affairs Minister Sushma Swaraj met the country's top leaders to discuss ways to consolidate the strategic partnership in areas like trade, energy, security and information technology. Swaraj is on a three-nation tour to Kazakhstan, Kyrgyzstan and Uzbekistan as part of India's efforts to boost strategic partnership with the resource-rich central Asian nations. She held delegation-level talks with her Kazakh counterpart Kairat Abdrakhmanov. The two leaders held a comprehensive discussion on deepening cooperation in trade and investment, defence and security, energy, Information and Communications Technology (ITC), pharma, capacity building and culture. Kazakhstan is India's largest trade and investment partner in Central Asia. She also called on Prime Minister of Kazakhstan, Bakytzhan Sagintayev and exchanged views on strengthening cooperation in trade and investment, ICT, joint film production, ...
Analysis: India chooses between a falling rupee and a banking cash crunch
MUMBAI (Reuters) - The Reserve Bank of India (RBI) faces a tough choice in how it uses its monetary muscle. Does it protect a fragile rupee or does it ensure there's enough cash in the banking system so lending in the economy doesn't dry up?
Hindustan Unilever Ltd up for fifth straight session
The stock is quoting at Rs 1755.1, up 0.38% on the day as on 12:44 IST on the NSE. Hindustan Unilever Ltd is up 47.23% in last one year as compared to a 12.51% spurt in NIFTY and a 22.16% spurt in the Nifty FMCG.
Japan second-quarter GDP growth seen recovering on consumer spending, capex: Reuters poll
TOKYO (Reuters) - Japan's economy likely rose in the second quarter, swinging from contraction in the previous three months, a Reuters poll showed, led by consumer spending, capital expenditure and solid overseas demand.
Mustard seed futures up 0.14% on fresh demand
Mustard seed prices saw a modest rise of Rs 6 to Rs 4,171 per quintal in futures trade today after creating bets by participants due to emerging physical markets. Marketmen said pause in arrivals and pick up in demand in spot markets encouraged traders to build up positions, consequently prices of mustard seed futures gone up. At the National Commodity and Derivative Exchange Counter, mustard seed delivery for the most traded near September inched up by Rs 6 or 0.14 per cent to Rs 4,171 per quintal, with an open interest of 88,650 lots. The delivery of the current August, too, edged up by Rs 5 or 0.12 per cent to Rs 4,126 per quintal, having business turnover in 74,500 open lots.
Aurobindo Pharma Ltd gains for third consecutive session
The stock is quoting at Rs 623.45, up 1.41% on the day as on 12:49 IST on the NSE. Aurobindo Pharma Ltd is down 14.04% in last one year as compared to a 12.51% spurt in NIFTY and a 2.77% spurt in the Nifty Pharma index.
Coal India Ltd up for third straight session
The stock is quoting at Rs 281.05, up 2.74% on the day as on 12:49 IST on the NSE. Coal India Ltd is up 12.78% in last one year as compared to a 12.51% jump in NIFTY and a 2.12% jump in the Nifty Metal index.
Jindal Stainless (Hisar) Ltd spurts 3.24%, up for third straight session
The stock is quoting at Rs 138.45, up 3.24% on the day as on 12:49 IST on the NSE. Jindal Stainless (Hisar) Ltd is down 18.65% in last one year as compared to a 12.51% gain in NIFTY and a 2.12% gain in the Nifty Metal index.
GlaxoSmithkline Consumer Healthcare Ltd spurts 3.38%, rises for third straight session
The stock is quoting at Rs 6835, up 3.38% on the day as on 12:49 IST on the NSE. GlaxoSmithkline Consumer Healthcare Ltd is up 24.73% in last one year as compared to a 12.51% gain in NIFTY and a 22.16% gain in the Nifty FMCG index.
Bajaj Holdings & Investment Ltd gains for third consecutive session
The stock is quoting at Rs 2982, up 1.22% on the day as on 12:49 IST on the NSE. Bajaj Holdings & Investment Ltd is up 23.39% in last one year as compared to a 12.51% spurt in NIFTY and a 14.36% spurt in the Nifty Financial Services index.
GAIL (India) Ltd up for third consecutive session
The stock is quoting at Rs 384.15, up 1.72% on the day as on 12:49 IST on the NSE. GAIL (India) Ltd is up 35.59% in last one year as compared to a 12.51% jump in NIFTY and a 14.77% jump in the Nifty Energy index.
Gold hits one-year low, headed for fourth weekly loss
BENGALURU (Reuters) - Gold prices fell to their lowest in over a year on Friday amid a resilient U.S. dollar and were headed for a fourth straight weekly loss.
Indiabulls Housing vaults after robust Q1 result
Indiabulls Housing Finance advanced 5.35% to Rs 1,370.75 at 12:24 IST on BSE after consolidated net profit rose 30.29% to Rs 1054.72 crore on 23.81% rise in total income to Rs 4071.32 crore in Q1 June 2018 over Q1 June 2017.
Soybean futures dip on global cues
Soybean prices dipped by Rs 17 to Rs 3,412 per quintal in futures trade today with cut down in exposures, guided by pessimistic overseas leads. Marketmen said operators were minimizing their holdings, driven by slackness in its prices overseas, which reflected down slide in soybean futures prices. Apart from downbeat sentiments in edible oils prices too weighed on soybean prices, they said. At the National Commodity and Derivatives Exchange platform, soybean delivery for the October shed by Rs 17 or 0.50 per cent to Rs 3,412 per quintal, in an open interest of 56,770 lots. Also, the delivery of the November eased by same margins to Rs 3,392 per quintal, open interest stood of 22,960 lots.
Coriander futures fall 1.17 pc on subdued demand
Coriander prices fell 1.17 per cent to Rs 5,085 a quintal in futures market today as participants trimmed holdings in-line with subdued demand at the spot markets. Further, increased arrivals from major producing belts weighed on the coriander futures. At the National Commodity and Derivatives Exchange, coriander prices for delivery in September declined by Rs 60, or 1.17 per cent, to Rs 5,085 per quintal with an open interest of 28,170 lots. Similarly, rates for this month were trading lower by Rs 55, or 1.08 per cent, to Rs 5,020 per quintal in 15,140 lots. Market analysts attributed the fall in coriander futures to muted demand in the physical market against adequate stocks position on increased supplies from producing regions.