Page 3237 - Business Finance
Indiabulls Housing Finance Ltd gains for third straight session
The stock is quoting at Rs 1200.35, up 4.14% on the day as on 12:49 IST on the NSE. Indiabulls Housing Finance Ltd is up 4.41% in last one year as compared to a 11% spurt in NIFTY and a 15.13% spurt in the Nifty Financial Services index.
First commercial flight in 20 years leaves Ethiopia for Eritrea: airline
The first commercial flight to Eritrea in two decades departed today from Addis Ababa, according to the Ethiopian Airlines website, after the two nations ended their bitter conflict in a whirlwind peace process. Ethiopian Airlines indicated that flight ET0312 to Asmara had left Bole International Airport, after a ceremony inaugurating the flight, which chief executive Tewolde GebreMariam described as a "unique event in the history of Ethiopia and Eritrea".
Cardamom futures climb 2.94% on higher demand
Cardamom prices rose further by 2.94 per cent to Rs 1,129 per kg in futures trade today on frantic buying by stockists and retailers due to increased demand from domestic and export markets. Besides, reports of damage to standing crops and anticipation of delay in supplies of the fresh crops amid heavy monsoon also fuelled the upward momentum. At the Multi Commodity Exchange, cardamom for delivery in August was trading higher by Rs 32.20, or 2.94 per cent, at Rs 1,129 per kg in a business turnover of 144 lots. The September contract of the spice was trading higher by Rs 20.50, or 1.90 per cent, to Rs 1,100 per kg with trading volume of 9 lots. Analysts said fresh positions created by traders backed by reports of damage to standing crops and a likely delay in supplies of fresh crop lifted cardamom prices notably.
'Global investor sentiment turns bearish in Jul over growth uncertainty'
Global investor sentiment turned bearish this month as growth and profit expectations plunged amid trade war fears that emerged as the biggest risk, says a survey. According to BofA Merrill Lynch July Fund Manager Survey, 60 per cent of respondents cited trade war as the biggest tail risk. Meanwhile, growth and profit expectations plunged significantly as just 11 per cent of respondents said they expect faster global growth in the next 12 months, down 12 percentage point from last month and the lowest level since February 11, 2016, the survey said. "Investor sentiment is bearish this month, with survey respondents eyeing the risks from a possible trade war," said Michael Hartnett, chief investment strategist. When asked their expectations for global profits, net 9 per cent of respondents indicated that they do not expect an improvement in the next 12 months, down 53 percentage point from the beginning of the year and the lowest level since February 2016. Net 11 per cent of those ...
Soybean futures see mixed trend
Soybean depicted a mixed trend in futures trade today with delivery in July contracts falling after participants trimmed their bets. At the National Commodity and Derivatives Exchange, soybean to be delivered this month eased by Rs 8, or 0.23 per cent, to Rs 3,525 per quintal with an open interest of 12,460 lots. On the other hand, for the October month contract rose by Rs 30, or 0.90 per cent, to Rs 3,374 per quintal as participants raised bets. The volume of business stood at 54,160 open lots. Marketmen said profit-booking by participants led to the fall in prices of July contracts, while delivery in October month edged higher.
Bandhan Bank first-quarter profit surges on higher interest income
(Reuters) - India's Bandhan Bank Ltd posted a 47 percent surge in its quarterly profit on Wednesday, helped by higher interest income.
Nifty slips below 11,000 mark
The market sharply reversed trend and hit fresh intraday low in early afternoon trade. At 12:19 IST, the barometer index, the S&P BSE Sensex, was down 59.16 points or 0.16% at 36,460.80. The Nifty 50 index was down 10.45 points or 0.09% at 10,997.60. The Nifty slipped below the psychologically important 11,000 mark. Telecom shares tumbled.
India-Oman Bilateral Trade Showing Remarkable Growth In Recent Years
The India-Oman Joint Commission held its 8th session on 16th - 17th July, 2018 in Muscat, Oman. The Omani Delegation was headed by Dr. Ali bin Masoud Al Sunaidy, Minister of Commerce and Industry and the Indian side was led by Minister of Commerce & Industry, Suresh Prabhu.
Musk says sorry over 'pedo' remark after backlash
Bowing to pressure from investors amid falling Tesla stock, Elon Musk on Wednesday apologised to British cave explorer Vern Unsworth whom he had baselessly called a "pedo".
Sensex retreats from fresh record high to trade in red
After touching a fresh all-time high of 36,747.87 points, the benchmark BSE Sensex retreated and traded on a negative note during the afternoon session on Wednesday.
HDFC Bank scales record high after preferential allotment
HDFC Bank rose 1.04% to Rs 2,199.35 at 12:15 IST on BSE after the bank allotted 3.90 crore shares to HDFC by way of the preferential allotment.
India to inject $1.65 billion in five state banks in about a week: government source
NEW DELHI (Reuters) - The Indian government will inject a total 113.36 billion rupees ($1.65 billion) in five state-run banks, including fraud-hit Punjab National Bank, in a week or so, a senior government official told Reuters on Wednesday.
S Korea minister warns of fallout of US-China trade war
South Korea's finance minister warned that an all-out trade war between the US and China would have grim implications for the country, as he lowered this year's growth outlook today. The world's 11th largest economy is expected to grow 2.9 per cent this year, lower than an earlier estimate of three per cent, Kim Dong-yeon said, citing slowing demand at home and abroad as well as rising unemployment. The latest estimate is also lower than last year's figures, when the export-reliant economy expanded 3.1 per cent, and comes as the South's top two trading partners China and the US engage in a bitter spat that has seen them impose hefty tariffs on billions of dollars in goods. "The economic situation down the road does not seem to be bright," Kim told reporters. "The situation may get worse if anxiety in the international financial markets spreads due to the US-China trade dispute... and market and corporate sentiment does not improve," he said. Overseas shipments account for more than ...
Why financial architecture is essential for Indian infrastructure (Column: Behind Infra Lines)
For ideal risk management in infrastructure finance, it is vital that the capital market infrastructure and the microstructure of the financial market aid such effective risk management. For the Indian economy, infrastructure investors must have access to more financial instruments to hedge risks. Essentially, the financial markets require greater microstructure.
Kanani Industries Ltd leads gainers in 'B' group
Tamil Nadu Petro Products Ltd, Kolte Patil Developers Ltd, Intense Technologies Ltd and Kridhan Infra Ltd are among the other gainers in the BSE's 'B' group today, 18 July 2018.
Mustard seed futures surge 1.09 per cent
Mustard seed prices rose by Rs 45 to Rs 4,187 per quintal in futures trade today on widening of positions by traders, taking positive cues from the physical markets. The rise in mustard seed prices at futures market was mostly attributed to raising of holdings by participants, tracking a firm' trend at the spot markets on increased enquiries from oil mills against thin supplies, analysts said. At the National Commodity and Derivatives Exchange counter, mustard seed for delivery in August strengthened by Rs 45 or 1.09 per cent to Rs 4,187 per quintal with the business turnover of 1,30,810 open lots. Mustard seed for delivery in September contract marked higher by Rs 38 or 0.91 per cent to Rs 4,224 per quintal depicting an open interest of 20,480 lots.
Castor seed futures rise on firm spot cues
Castor seed prices rose by Rs 32 to Rs 4,489 per quintal in futures trade today as traders made fresh exposures amid firm spot market cues. Marketmen said a decline in ready stocks due to pause in supplies from growing belts amid strengthening demand for consuming industries such as soap, paint and lubricant industries in the spot markets, enthused traders to build up their holdings, marking the uptick in castor seed futures prices. At the National Commodity and Derivatives Exchange, castor seed delivery for the August contract hardened by Rs 32, or 0.72 per cent, to Rs 4,489 per quintal showing the business turnover in 1,32,330 open lots. Similarly, the delivery of the September contract went up by Rs 31, or 0.69 per cent, to Rs 4,530 per quintal with an open interest of 7,470 lots.
Guar seed futures climb 2.54 pc on strong spot demand
Guar seed prices bounced by 2.54 per cent to Rs 4,302 per quintal in futures trade today after participants enlarged their portfolios, triggered by a firm trend at the spot markets on strong demand. Marketmen said raising of bets by participants following robust demand at the spot markets against fall in arrivals from growing belts lifted guar seed futures prices. At the National Commodity and Derivatives Exchange, guar seed contract for November delivery climbed Rs 106.50 or 2.54 per cent to Rs 4,302 per quintal in open interest of 2,380 lots. Guar seed for delivery in October too spurted by Rs 90 or 2.15 per cent to Rs 4,271 per quintal with business turnover of 1,05,470 open lots.
Turmeric surges 1.73% on rising demand
Turmeric prices were up by 1.73 per cent to Rs 7,050 per quintal in futures trade today as participants built up fresh positions, driven by uptick in domestic and export demand. Besides, restricted supplies from producing regions also supported the upward movement of turmeric prices. At the National Commodity and Derivatives Exchange, turmeric for delivery in the current month contract was trading higher by Rs 120 or 1.73 per cent to Rs 7,050 per quintal with an open interest of 50 lots. The spice for delivery in August contract also increased by Rs 60 or 0.84 per cent was trading at Rs 7,200 per quintal in an open interest of 16,380 lots. Analysts said, fresh positions created by participants following upsurge in domestic as well as export demand at the spot market against restricted supplies from producing regions pushed up turmeric prices in futures trade.
Indo Count Industries Ltd leads gainers in 'A' group
Future Consumer Ltd, Indian Overseas Bank, Radico Khaitan Ltd and Oil & Natural Gas Corpn Ltd are among the other gainers in the BSE's 'A' group today, 18 July 2018.