Page 304 - Business Finance
Gold futures loses sheen as markets ride high, shed 0.24%
Gold prices dipped 0.24 per cent to Rs 31,460 per 10 gram in futures trade Tuesday as speculators reduced exposure at the spot market. On the Multi Commodity Exchange, gold for delivery in June contracts fell by Rs 77, or 0.24 per cent, to Rs 31,460 per 10 gram in a business turnover of 7,620 lots. Traders said, the gold prices dipped after domestic equity markets saw strong gains and investors turning to riskier equities over the safe-haven metal. Globally, the gold prices fell 0.16 per cent to USD 1,275.20 an ounce in New York.
Yuzvendra Chahal and HTS introduce CheQmate
India spinner Yuzvendra Chahal in association with High Times Solutions (HTS) has started lifestyle brand "CheQmate". This is Chahal's maiden entrepreneurial venture. "With the launch of CheQmate, my partner, HTS and I, open our arms to brand collaborations for future. Initially, we plan to deal in lifestyle products and services like games, ventures and sub-brands to offer Indian sports lovers with one of a kind experience," Chahal said. Piyush Sachdeva, MD and CEO, HTS stated, "I am very excited to make this collaboration a success and wholeheartedly invite others to be a part of this exciting and rewarding initiative.
United Breweries Ltd rises for third straight session
United Breweries Ltd is quoting at Rs 1447, up 5.29% on the day as on 12:54 IST on the NSE. The stock is up 23.24% in last one year as compared to a 11.89% jump in NIFTY and a 7.38% jump in the Nifty FMCG index.
Japan Market falls on global economic concerns
Total 24 issues of 33 subsectors of the Tokyo Stock Exchange declined, with shares in Marine Transportation, Mining, Oil & Coal Products, Warehousing & Harbor Transportation Services, Insurance, and Electric Appliances issues being notable losers, whereas Rubber Products, Information & Communication, and Iron & Steel were notable gainers.
Jubilant Foodworks Ltd soars 1.29%, rises for fifth straight session
Jubilant Foodworks Ltd is quoting at Rs 1326.05, up 1.29% on the day as on 12:49 IST on the NSE. The stock is up 5.54% in last one year as compared to a 11.99% spurt in NIFTY and a 7.43% spurt in the Nifty FMCG.
Australia Market closes at fresh 11-years high
Shares of banks surged after the Australian Prudential Regulation Authority (APRA) proposed dropping requirements for banks to use a minimum 7% interest rate when assessing a borrower's ability to service a loan, which it said would increase customers' maximum borrowing capacity. Commonwealth Bank rose 2% to a close of A$78.97, Westpac gained 2.7% to A$28.50, ANZ Bank gained 2% to A$28.43, and NAB gained 1.5%.
New Government Should Free Up Agriculture Sector: Surjit Bhalla
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Tata Motors shares fall 6 pc post quarterly results
Shares of Tata Motors Tuesday tumbled over 6 per cent in morning trade a day after the company posted 49 per cent decline in March quarter results. The scrip, after a weak opening at Rs 186.60, further dropped 6.10 per cent to Rs 178.40 on the BSE. At the NSE, shares plunged 6.36 per cent to Rs 178.05. On Monday, the company reported 49 per cent decline in March quarter 2019 results at Rs 1,108.66 crore. The company said the plunge was mainly due to lower revenues and exceptional charge on account of its British arm Jaguar Land Rover. During the latest quarter, JLR announced a voluntary redundancy programme and accordingly had an exceptional charge of Rs 1,367.22 crore. For 2018-19, the company posted a loss of Rs 28,724.20 crore, mainly on the back of impairment charge of Rs 27,837.91 crore recognised in the third quarter of the fiscal. Tata Motors Group CFO PB Balaji on Monday said market conditions in fourth quarter were adverse due to significant stress on liquidity, higher ...
Metal and mining stocks decline
Local stocks trimmed gains in early afternoon trade. At 12:25 IST, the barometer index, the S&P BSE Sensex, was up 63.74 points or 0.16% at 39,416.41. The Nifty 50 index was up 7.60 points or 0.06% at 11,835.85. Metal and mining stocks declined. Shares of index heavyweight Reliance Industries and HDFC gained.
People throng Kishan ration shop to buy goods at subsidised rates
The Kishan ration shop, an initiative taken by the Kishan Research and Development Centre, is helping the locals here to save money by selling fresh farm products at a fixed price and other grocery items at a subsidized rate, similarly like cooperative department stores.It is worth noticing that these shops sell farm produce acquired directly from the farmers at a price profitable to them and also beneficial to the buyers. It sells products such as rice, wheat, pulses, spices, vegetables, and dairy products. Besides, it also has consumer durables like coffee powder, tea leaves, tea powder, and even soaps."Earlier I used to buy products from the grocery shop outside my house at a higher price. But buying things from Kishan ration shops has helped me to save money. Besides saving money, the quality of the products are also good as they are directly coming from the farmers, " said Meenakshi, a customer.In order to buy the products at a minimal rate, the customers visiting the shop need ..
BLB Ltd leads gainers in 'B' group
Banswara Syntex Ltd, Esab India Ltd, Aksh Optifibre Ltd and Sumeet Industries Ltd are among the other gainers in the BSE's 'B' group today, 21 May 2019.
Torrent Pharma shares dive 7 pc post Q4 results
Shares of Torrent Pharmaceuticals Tuesday plunged over 7 per cent in morning trade a day after it reported a loss of Rs 152 crore for the quarter ended March 31, 2019. The company posted a profit of Rs 228 crore in the same quarter of 2017-18 financial year, as per a BSE filing on Monday. The net loss of Rs 152 crore in the latest quarter is on account of exceptional items of Rs 357 crore and lower hedging gains, the company said. On the BSE, the stock after opening on a negative note of Rs 1,634.90 further slipped 7.88 per cent to Rs 1,525.20. Following the downtrend, on the NSE the scrip touched Rs 1,525.35, a decline of 7.80 per cent over its previous close of Rs 1,654.40. Out of Rs 357 crore worth exceptional items, Rs 217 crore pertains to impairment provision of certain intangible assets under development and goodwill recognised with respect to the acquisition of Bio-Pharm Inc. An amount of Rs 140 crore is in relation to product recalls made during the current year, the drug ...
Reliance Retail set to disrupt Amazon, Walmart-Flipkart: Report
Reliance Retail's upcoming entry into the online retail sector is the biggest challenge for Amazon and Walmart-Flipkart as the Mukesh Ambani-led behemoth is well positioned to create massive disruption in the market, a new report has stressed.
Vymo Collaborates With Microsoft to Power Organizations Globally With its Intelligent Personal Assistant for Sales
/ -- Vymo has announced its collaboration with Microsoft to expand the global presence of its intelligent personal assistant for sales. The partnership will focus on enabling organizations to strengthen their Customer Relationship Management (CRM) using Artificial Intelligence (AI) capabilities and empower their sales function with predictive and actionable insights. Vymo is already powering an existing base of 85,000+ users in 50+ large global businesses across Banking, Insurance, Financial Services and Pharma sectors with Microsoft Azure-backed Machine Learning and AI tools to help them draw intelligent and actionable insights and increase the productivity by over 30%. Speaking on the collaboration, Vymo Co-founder & CEO, Yamini Bhat said, "We are helping organizations move to a more proactive CRM experience powered by mobility and intelligence. With Vymo, salespeople can operate more effectively in a deskless environment and that has translated into a significant revenue ...
Sobha Q4 profit jumps 73 pc to Rs 113.3 cr
Realty firm Sobha Ltd has posted 73 per cent growth in its consolidated net profit at Rs 113.3 crore for the quarter ended March on higher sales. Its net profit stood at Rs 65.4 crore in the year-ago period. Total income rose to Rs 1,421.6 crore in the fourth quarter of 2018-19 fiscal from Rs 789.2 crore in the corresponding period of the previous year. During the full 2018-19 fiscal year, the company's net profit rose to Rs 297.1 crore from Rs 216.8 crore in the previous year. Total income increased to Rs 3,515.6 crore last fiscal from Rs 2,836.5 crore in the 2017-18 fiscal. Despite the real estate sector facing the headwind, Sobha has delivered a record operational and financial performance during the year. The performance for Q4-19 in particular was quite satisfactory on all parameters, Sobha Ltd Vice Chairman and MD J C Sharma said in a statement. The company achieved the highest-ever total income of Rs 3,516 crore, EBITDA of Rs 747 crore, profit before tax (PBT) of Rs 448 crore, .
Just Dial Ltd leads gainers in 'A' group
J K Cements Ltd, Edelweiss Financial Services Ltd, Jai Corp Ltd and United Breweries Ltd are among the other gainers in the BSE's 'A' group today, 21 May 2019.
Indices hold firm
Stocks hovered in positive zone in mid-morning trade. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 112.35 points or 0.29% at 39,465.02. The Nifty 50 index was up 22.05 points or 0.19% at 11,850.30. Most auto stocks declined.
Jet staff knock on Aviation Ministry's doors
Faced with the prospect of job loss, the employees of grounded Jet Airways knocked on the doors of government for helping to save the airline.
US temporarily loosens restrictions on Huawei products
The US Commerce Department has announced loosening of some of the restrictions Washington placed on Huawei equipment last week, which made it difficult for American companies to do business with the Chinese tech giant.
Global In-house Centers Leasing to be in the Range of 30-35 Million sq Feet Between 2019-2021, Across the Top Six Cities: Colliers International India
/ -- As per Colliers International, while Bengaluru will likely remain the first choice for GICs, occupiers may consider Hyderabad, led by its ease of doing business, talent pool and quality upcoming supply. As of 2019, India is the undisputed leader in the GIC market led by a change in strategy among multi-national companies (MNCs), further aided by competitively affordable rents in certain markets (that offer sub-dollar rentals), a strong IT infrastructure, tax breaks and a highly skilled, English-speaking talent pool. "With technology investments imperative to future growth, we expect occupiers will continue to invest in GICs, especially to develop Centers of Excellence (CoE), as Research & Development (R&D) hubs, and innovation centers. We foresee GIC leasing to be in the range of 30-35 million sq ft, between 2019-2021, across the top six cities of Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune," said Ritesh Sachdev, Senior Executive Director, Occupier Services