Page 3238 - Business Finance
Kridhan Infra spurts after new order win
Kridhan Infra surged 7.08% to Rs 77.90 at 11:45 IST on BSE after the company announced that its associate VNC has been awarded a new project worth Rs 222.6 crore.
BPCL naphtha cargo premium falls to five-month low
SINGAPORE (Reuters) - India's Bharat Petroleum Corp Ltd sold an August naphtha cargo at the lowest premium it has received in five months, traders familiar with the matter said on Wednesday.
Cottonseed oil cake recovers on bargain buying
Cottonseed oil cake prices bounced back by Rs 13.50 to Rs 1,777 per quintal in futures trade today as investors accumulated fresh positions at lower levels amid a firm trend at the physical markets. Marketmen said building up fresh positions by the speculators after yesterday's sell-off in tandem with a firm trend at the spot markets due to tight stocks against rising demand from cattle-feed makers led to recovery in cottonseed oil cake futures prices. At the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in September contracts advanced by Rs 13.50 or 0.77 per cent to Rs 1,777 per quintal in an open interest of 53,650 lots. Also, the most-traded delivery in August contract moved up by Rs 11 or 0.63 per cent to Rs 1,761.50 per quintal having the business turnover of 99,940 lots.
Carzonrent teams up with SAP Concur for smooth business travel
Online car rental firm Carzonrent on Wednesday announced the integration of its app with SAP Concur -- a leading provider of expense, travel and invoice management solutions.
Apple gains in OS market, equals brand share with Samsung in US: Report
Gaining ground, Apple improved its position in the US smartphone market during the second quarter of 2018, eating into Android's share and equalising its standing with rival Samsung, a report said on Wednesday.
Guar gum futures rebound on short-covering
Guar gum staged a comeback with prices rising by Rs 151 to Rs 9,092 per quintal in futures trade today as participants built up fresh positions at prevailing levels coupled with a firming trend at the physical markets following uptick in export demand. At the National Commodity and Derivatives Exchange, guar gum for delivery in November contract shot up by Rs 151, or 1.69 per cent, to Rs 9,092 per quintal with an open interest of 480 lots. Similarly, the most-traded October contract rose by Rs 130, or 1.47 per cent, to Rs 8,985 per quintal clocking an open interest of 56,605 lots. Marketmen attributed to the rise in guar gum prices at futures market to widening of bets by participants at existing levels, taking firm cues from physical markets, supported by rising export demand.
Global Markets: Dollar's advance puts squeeze on gold, commodities
SYDNEY (Reuters) - Asian share markets were mostly firmer on Wednesday as a bullish outlook from the head of the U.S. central bank buoyed the dollar, lifted Tokyo shares to a one-month top and sent gold to a one-year trough.
Asian currencies dip after Fed chairman's upbeat remarks lift dollar
(Reuters) - Asian currencies weakened on Wednesday as Federal Reserve Chairman Jerome Powell's optimistic comments on the U.S. economy strengthened expectations of more interest rate hikes this year and lifted the dollar.
Swiggy appoints Dale Vaz as Head of Engineering and Data Sciences
Food delivery platform Swiggy on Wednesday announced the appointment of Dale Vaz as the Head of Engineering and Data Sciences.In this role, he will be responsible for driving the company's technology strategy and building Swiggy's next generation AI driven platform for hyperlocal discovery and on-demand delivery.Dale will work closely with Swiggy CTO, Rahul Jaimini and Swiggy's fast-growing technology team. He will report directly to Swiggy CEO, Sriharsha Majety.He joins Swiggy after 11 years at Amazon.com. In his most recent role as the Director of Software Engineering at Amazon India, he led functions across verticals such as Consumer Tech, Mobile Engineering, Payments Engineering, New Initiatives and Data Engineering.At Swiggy, he will extend this expertise to deliver a delightful consumer experience across the numerous new initiatives the company is currently working on."As Swiggy continues to leverage technology to make the lives of consumers more convenient, Dale's expertise ...
Crude palm oil futures gain 0.32%
Crude palm oil prices went up by 0.32 per cent to Rs 616 per 10 kg in futures trade today as speculators widened their positions amid firm demand at the spot market. Besides, a positive trend in overseas markets supported the upmove. At the Multi Commodity Exchange, crude palm oil for this month contract rose by Rs 2 or 0.32 per cent to Rs 616 per 10 kg in a business turnover of 187 lots. Similarly, the oil for delivery in August contract went up by Rs 1.80 or 0.30 per cent to Rs 607.90 per 10 kg in 173 lots. Analysts said widening of positions by participants amid pick up in spot demand against tight stocks position on restricted supplies from overseas markets mainly kept crude palm oil prices higher at futures trade.
Chana futures up 1.86% on rising demand
Chana prices rose 1.86 per cent to Rs 4,225 per quintal in futures trade today as participants created fresh positions, driven by rising demand from dal mills in the spot market. Besides, tight stocks positions following drop in arrivals from producing regions. At the National Commodity and Derivatives Exchange, chana for delivery this month was trading Rs 77, or 1.86 per cent, higher at Rs 4,225 per quintal with an open interest of 460 lots. Likewise, the commodity for delivery in August gained Rs 44 or 1.04 per cent, to Rs 4,255 per quintal in 75,250 lots. Analysts attributed the rise in chana prices to surging demand in the spot markets against restricted supplies from the producing regions.
Lead futures weaken by 0.10% on low demand
Lead prices softened by 0.10 per cent to Rs 149 per kg in futures trade today as speculators cut down positions, taking negative cues from domestic spot market on easing demand. At the Multi Commodity Exchange, lead for delivery in August month fell by 15 paise or 0.10 per cent to Rs 149 per kg in business turnover of 6 lots. Similarly, the metal for delivery in July contract was down by 10 paise or 0.07 per cent to Rs 148.10 per kg in 642 lots. Analysts said offloading of positions by traders due to easing demand from battery-makers in the physical market, mainly led to decline in lead prices at futures trade.
Refined soya oil futures extend losses on weak spot cues
Refined soya oil prices eased further by 0.04 per cent to Rs 743 per 10 kg in futures trade today as speculators trimmed their positions, tracking a weak trend at the spot market due to muted demand. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July declined by 30 paise, or 0.04 per cent, to Rs 743 per 10 kg with an open interest of 9,120 lots. Likewise, the oil for delivery in August contracts was trading lower by 15 paise, or 0.02 per cent, to Rs 742.70 per 10 kg in 55,200 lots. Traders said offloading of positions due to easing demand in the physical markets against sufficient stocks position on increased arrivals from producing regions kept refined soya oil prices weak in futures trade.
Market breadth turns negative
Key barometers turned range bound in mid-morning trade. At 11:18 IST, the barometer index, the S&P BSE Sensex, was up 116.21 points or 0.32% at 36,636.17. The Nifty 50 index was up 44.30 points or 0.40% at 11,052.35.
Zinc futures edge up 0.12% on positive global cues
Zinc prices were marginally higher by 0.12 per cent to Rs 173.20 per kg in futures trade today as speculators created fresh positions following positive lead from the global markets. At the Multi Commodity Exchange, zinc for delivery in July edged higher by 20 paise or 0.12 per cent to Rs 173.20 per kg in business turnover of 775 lots. Similarly, the metal for delivery in August was trading lower by a similar margin to Rs 173.40 per kg in 8 lots. Analysts said fresh positions built up by participants in line with positive trend in Asian trade, mainly supported the upside in zinc prices at futures trade here. Meanwhile, the most-traded September zinc contract on the Shanghai Futures Exchange was trading up 0.6 per cent at 20,370 yuan (USD 3,039.98) a tonne, above Tuesday's one-year low of 20,055 yuan a tonne. It has fallen in 10 of the previous 13 trading days.
Akzo Nobel misses second-quarter core earnings, sales forecasts
AMSTERDAM (Reuters) - Akzo Nobel, the Dutch paints and coatings maker, on Wednesday said its operating income fell 23 percent to 225 million euros as sales slid 3 percent in the second quarter, missing market forecasts.
Wheat futures climb 1.15% on speculative buying
Wheat prices firmed up by 1.15 per cent to Rs 1,936 per quintal in futures market today as speculators built up fresh positions. At the National Commodity and Derivatives Exchange, wheat for delivery in September shed Rs 22, or 1.15 per cent, to Rs 1,936 per quintal with an open interest of 320 lots. Analysts said fresh positions created by traders due to improved demand in the physical market and a pause in arrivals from producing belts pushed up wheat prices in futures trade.
Volumes spurt at Quess Corp Ltd counter
Quess Corp Ltd registered volume of 1.46 lakh shares by 10:47 IST on BSE, a 46.53 fold spurt over two-week average daily volume of 3144 shares
Monarch Networth Capital gets registered to carry business of Portfolio Management Services
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