Page 3236 - Business Finance
SPML Infra Ltd leads losers in 'B' group
3P Land Holdings Ltd, H T Media Ltd, Metkore Alloys & Industries Ltd and Prabhat Dairy Ltd are among the other losers in the BSE's 'B' group today, 18 July 2018.
Volumes spurt at Indian Overseas Bank counter
Indian Overseas Bank notched up volume of 55.3 lakh shares by 14:14 IST on NSE, a 13.39 fold spurt over two-week average daily volume of 4.13 lakh shares
Online ticketing portal BookMyShow raises $100 million funding
(Reuters) - Bigtree Entertainment Pvt Ltd, owner of online movie and events ticketing portal BookMyShow, on Wednesday said it has raised $100 million in its latest round of funding from a group of investors.
Pulses import plunge in India to ripple across Canadian, Australian farms
MUMBAI (Reuters) - Pulses imports to India, the world's biggest buyer, may fall to their lowest in nearly two decades after the government raised import taxes and restricted overseas purchases to bolster prices, impacting the plans of its global suppliers.
Payswiff launches new android POS
Payswiff, a city-based payment solutions company today unveiled its new addition of Point of Sale device for the next generation of mobile payments. According to a press release, Telangana IT and Industries Minister KT Rama Rao launched the new Android POS. The POS is the result of integrating leading edge hardware functionality with Android Operating System which helps the merchants and business owners to use the device like a smartphone loaded with apps, it said. Through this device, merchants can accept payments from credit cards, debit cards, wallets, online payments, UPI, Bharat QR and offer EMI option and the payments can be accepted inside the store, at customer's home and online making it a complete omni-channel payment solution, it added. Apart from accepting payments, the Android POS allows merchants generate bills, invoices, track sales along with transactions on a daily,weekly and monthly manner.
Piyush Goyal to hold meeting for real estate sector
Union Finance Minister Piyush Goyal will hold a top-level meeting on Thursday with an aim to accelerate the growth of real estate sector.According to finance ministry sources, the meeting will focus on various issues acting as roadblocks to realty sector such as Taxation issues, Construction and possession delays, and refinancing of stalled projects.Chaired by Goyal, the meeting will include Finance Secretary Hasmukh Adhia, Department of Economic Affairs Secretary Subhash Chandra Garg, and Department of Financial Services Secretary Rajiv Kumar, along with heads of major Public Sector banks, as well as NBCC and NHB.The representatives of Realty body CREDAI and NAREDCO, as well as the officials from ministries of Urban Development, Rural Development and Commerce will also be the part of the meeting.
Market extends intraday losses
Key benchmarks extended losses and hit fresh intraday low in mid-afternoon trade. At 14:17 IST, the barometer index, the S&P BSE Sensex, was down 173.62 points or 0.48% at 36,346.34. The Nifty 50 index was down 40.60 points or 0.37% at 10,967.45. The Nifty was currently trading a tad below the psychologically important 11,000 mark after sliding below that level in early afternoon trade.
Exclusive: Ethiopia says reforms 'to unleash private sector'
ADDIS ABABA (Reuters) - Ethiopia is open to selling off a host of state-owned firms, either partially or entirely, as part of a major economic reform drive designed to "unleash the potential of the private sector", its information minister said on Wednesday.
Foreigners sell Asian bonds for third straight month in June
(Reuters) - Foreigners withdrew money from Asian bond markets for the third consecutive month in June amid concerns that increasing trade frictions between the United States and China will disrupt the region's economic growth.
Board of Pharmaids Pharmaceuticals approves scheme of amalgamation
At meeting held on 18 July 2018
Gold hits 5-month low, loses another Rs 250 on global cues
Gold prices today tumbled by Rs 250 to trade at over five-month low of Rs 30,800 per 10 grams at the bullion market today amid weakening global trend and considerable fall in demand from local jewellers. Silver followed suit and dropped by Rs 620 to Rs 39,200 per kg on poor offtake by industrial units and coin makers. Traders said sentiment was downbeat as gold prices slipped to their lowest in a year in global markets, as the dollar firmed after Federal Reserve Chairman Jerome Powell's US economic outlook reinforced views that the central bank is on track to steadily hike interest rates, eroding appeal of the precious metal. Globally, gold fell 0.32 per cent to USD 1,223.30 an ounce and silver by 0.84 per cent to USD 15.41 an ounce in Singapore. Besides, muted demand from local jewellers and retailers at domestic spot markets too weighed on prices. In the national capital, gold of 99.9 per cent and 99.5 per cent purity plunged by Rs 250 each to Rs 30,800 and Rs 30,650 per 10 grams, .
Nilgiri Mountain Rail suffers loss of Rs 26 cr in 2017-18
The railways suffered a loss of over Rs 26 crore in 2017-18 in operating the Nilgiri Mountain Rail Service, a UNESCO World Heritage Site, Union Minister of State for Railways Manoj Sinha said today. Sinha said in Lok Sabha that the expenditure for running the Nilgiri Mountain Rail Service in Tamil Nadu was Rs 28 crore in 2017-18 while the earnings were Rs 1.82 crore. In 2016-17, the expenditure for the rail service was Rs 26.74 crore while earnings were Rs 1.99 crore. The Nilgiri Hill Railways is a UNESCO World Heritage Site and the Indian Railways operates the Nilgiri Mountain Rail Service for facilitating tourists of this catchment area. Sinha said though Indian Railways incurs losses on operation of this service, there is no proposal to compensate the losses incurred on operating this heritage service.
Global Markets: Dollar's advance puts squeeze on gold, Brexit blues sink sterling
LONDON (Reuters) - The world's major stock markets were mostly firmer on Wednesday as a bullish outlook from the head of the U.S. central bank buoyed the dollar, lifted bond yields and sent safe-haven gold to a one-year trough.
Oil prices fall on rise in U.S. stocks, demand worries
LONDON (Reuters) - Oil prices fell on Wednesday after news of a rise in U.S. crude inventories last week, defying analysts' expectations for a big fall, while concerns about weak demand also resurfaced.
Pancard Clubs' properties, vehicles put on sale
Looking to recover over Rs 7,000 crore of investor money from Pancard Clubs, markets regulator Sebi has put up for sale the company's luxury vehicles and properties. The regulator had auctioned at least 77 properties between December and June with a combined reserve price of more than Rs 4,500 crore. In a notice issued today, Sebi said it will auction 43 properties of Pancard Clubs as well as five vehicles, including Mercedes Benz, Toyota Innova and Hyundai Verna, owned by the company. The properties listed for the sale mostly include hotels, resorts, bunglows, a flat, land parcels and office space. These assets are located in Maharashtra, Karnataka, Gujarat, Haryana, Uttarakhand, Goa, West Bengal, Madhya Pradesh, Tamil Nadu and Kerala. As per the notice, vehicles would be auctioned on August 2. However, the regulator has not mentioned the auction date for properties. The move comes after Pancard Clubs had failed to comply with Sebi' order passed in February 2016 that had directed the
HTC South Asia President Faisal Siddiqui quits
South Asia head of premium smartphone maker HTC, Faisal Siddiqui, who was also looking after India business, has resigned from the company after a stint of around 7 years. "Faisal Siddiqui has resigned from HTC last week," an industry source said. When contacted Siddiqui confirmed the development, saying "it is due to personal reasons". He, however, did not share any further details. Siddiqui, who joined as India head of HTC in 2011, was elevated to the post of South Asia President in February 2015. The South Asia region of the Taiwanese smartphone firm includes India, Singapore, Malaysia, Indonesia, Thailand, Australia, New Zealand, Pakistan, Bangladesh and Sri Lanka. HTC had less than one per cent market share in overall smartphone segment and less than 2 per cent in premium smartphone segment in India in 2017, according to various estimates. Prior to joining HTC, Siddiqui was in Motorola Mobile Devices India business as Country Head. Prior to Motorola, he has held leadership ...
Weak market breadth
Volatility continued as key benchmark indices cut losses in afternoon trade soon after reversing intraday gains in early afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was down 59.55 points or 0.16% at 36,460.41. The Nifty 50 index was down 7.45 points or 0.07% at 11,000.60. The Nifty was currently trading a tad above the psychologically important 11,000 mark after sliding below that level in early afternoon trade.
Sweden's Ericsson swings to modest profit as savings kick in
STOCKHOLM (Reuters) - Mobile telecom equipment maker Ericsson posted an unexpected swing to a modest operating profit, saying it was boosted by growing sales traction in North America, which gave it confidence of meeting longer-term financial targets.
BookMyShow raises $100 million in Series D funding
Online ticketing platform BookMyShow on Wednesday said it has raised $100 million in Series D funding round led by private equity firm TPG Growth.
BookMyShow raises $100 mn funding led by TPG Growth
Bigtree Entertainment, which operates online ticketing platform BookMyShow, today said it has raised USD 100 million (about Rs 685 crore) in a funding round led by TPG Growth. BookMyShow, in a statement, said it has "executed definitive documents" to raise the said amount in Series D funding and the round has seen participation from existing investors as well. "This fresh infusion of funds will fuel BookMyShow's growth plans as it transforms into the ultimate Entertainment Destination' for its customers," it added. In July 2016, BookMyShow had raised over Rs 550 crore, led by US-based Stripes Group. "BookMyShow is excited to welcome TPG Growth as our newest partner. They bring with them extensive experience across the global media and entertainment sector, which will be instrumental as we look to accelerate our growth plans in this space," BookMyShow founder and CEO Ashish Hemrajani said. Akshay Tanna, a Principal at TPG Growth, said India's entertainment industry that was ...