Page 3245 - Business Finance
Kalpataru Power Transmission to seek shareholders' nod to raise up to Rs 300 cr
Kalpataru Power Transmission Ltd (KPTL) today said it will seek shareholders' nod to raise up to Rs 300 crore through issuance of non-convertible debentures. The company would seek shareholders' approval at the annual general meeting to be held early next month, it said in a BSE filing. A special resolution to raise up to Rs 300 crore through secured/ unsecured redeemable nonconvertible debentures is listed in the notice of the annual general meeting which is to be held on August 7, the filing said. Kalpataru Power Transmission Ltd, a global power transmission and infrastructure EPC company, will make an offer or invite subscription to secured/unsecured redeemable non-convertible debentures during the period of one year from the date of this annual general meeting for an aggregate amount not exceeding Rs 300 crore, in one or more series/tranches, on a private placement basis, the filing said. Shares of the company closed marginally up by 0.16 per cent at Rs 354.65 on BSE today.
Trade war puts the hoof into U.S. pig part exports to China
CHICAGO (Reuters) - Before the U.S.-China trade war, American pig processors exported nine out of every 10 pigs' feet and heads they shipped overseas to China and Hong Kong - for prices higher than they would fetch anywhere else.
Oil prices lift equity indices; Nifty regains 11k-mark (Roundup)
Slide in global crude oil prices along with expectations of fund infusion into public sector banks and value buying lifted the key domestic equity indices higher on Tuesday.
IDBI Bank to seek government nod for LIC's stake purchase
State-run IDBI Bank on Tuesday said it will seek rgw central government's nod on the Life Insurance Corp's (LIC) proposal to acquire 51 per cent stake in the debt-ridden lender.
IDBI Bank seeks govt nod for majority stake sale to LIC
The board of IDBI Bank today decided to seek the government's decision on LIC's proposal to acquire up to 51 per cent stake in the debt ridden bank. The board meeting took place a day after insurance behemoth LIC got approval of its board to increase its stake in the bank up to 51 per cent. In a regulatory filing, IDBI Bank said it has received a letter from Life Insurance Corporation of India (LIC) expressing its interest in acquiring 51 per cent controlling stake in IDBI Bank, as a promoter through preferential allotment of shares/ open offer. The bank's board considered the proposal and "decided to seek Government of India's decision in this regard", the filing said. Insurance regulator Irdai has already given its approval to the insurer for the stake purchase. LIC stake buy will help the debt-ridden state-owned bank get a capital support of Rs 10,000- 13,000 crore. Once the deal goes through, IDBI Bank, which is grappling with mounting toxic loans with gross non-performing assets .
CMAI's 67th National Garment Fair to continue up to 19th July
The Clothing Manufacturers Association of India (CMAI) has organized, "India's Largest Apparel Trade Show - The 67th National Garment Fair" from 16th July to 19th July 2018 at Bombay Exhibition Centre, NSE Complex, Goregaon (East), Mumbai. The Fair was inaugurated on 16thJuly 2018 by Chief Guest Kishore Biyani, Group CEO -Future Group.Mr. Rahul Mehta, President, The Clothing Manufacturers Association of India (Ex-Chairman, International Apparel Federation), stated that this B2B Fair was spread over Approx. 6,50,000 Square Feet, covering all the Halls at the Bombay Exhibition Centre. There were 916 Exhibitors in 986 Stalls displaying 1087 Brands. This was India's Largest Ever Garment Fair held so far. The Fair displayed leading Brands in Men's wear, Women's wear, Kid's wear and Accessories. CMAI had also published the 'Show Directory', popularly known as the Fair Guide.67th National Garment Fair would be spread over 4 Days instead of the normal 3 Days Fair. The Fair timing would be ...
Global Markets: World stocks slip on oil as focus turns to Fed
LONDON (Reuters) - Global stocks fell on Tuesday as oil prices hit a three-month low, while the dollar edged lower and most other markets were subdued before Federal Reserve Chair Jerome Powell was due to testify to the U.S. Congress.
Newsmaker: Goldman Sachs names Solomon as CEO, putting a banker in charge
NEW YORK (Reuters) - Goldman Sachs Group Inc named David Solomon as its next chief executive officer on Tuesday, ushering in a new era for the Wall Street bank as it expands into different businesses and revamps familiar ones.
TECNO Mobile to launch new smartphone in India
TECNO Mobile, a subsidiary of Hong Kong-based Transsion Holdings, is set to launch a new smartphone in India on July 23.
Government to soon recapitalise some PSBs with Rs 10,000 cr
The government is likely to recapitalise some state-run banks in urgent need by up to Rs 10,000 crore within a few days to help them meet regulatory capital requirements, official sources said on Tuesday.
China Stocks end softer on GDP data
Amid trade tensions, Chinese mainland stocks were down almost 30% since their peak in January. On July 6, U.S. President Donald Trump's administration officially instituted 25% duties on $34 billion worth of Chinese goods. China, for its part, swiftly responded by implementing retaliatory tariffs on the U.S. shortly afterward. The following week, the U.S. released a list of Chinese goods with an annual trade value of about $200 billion that may be subjected to 10% tariffs.
Hong Kong Hang Seng falls 1.25%
Shares of energy companies declined as crude oil prices slipped after Libyan ports reopened and the market saw potential supply increases by Russia and other oil producers. CNOOC (00883) slid 3.4% to HK$12.56. PetroChina (00857) fell 2.8% to HK$5.56. Sinopec (00386) shed 0.4% to HK$7.05.
Goldman Sachs names David Solomon as CEO to replace Blankfein
(Reuters) - Goldman Sachs Group Inc named David Solomon as its next chief executive officer on Tuesday, replacing Lloyd Blankfein who will step down on Sept. 30.
Johnson & Johnson quarterly profit beats on higher pharma unit sales
(Reuters) - Johnson & Johnson on Tuesday topped analysts' estimates for quarterly profit and revenue, driven by higher sales of rare-disease treatments from its acquisition of Actelion and cancer drugs Zytiga and Darzalex.
Goldman Sachs beats on strength in bond trading, investment banking
(Reuters) - Goldman Sachs Group Inc reported a better-than-expected quarterly profit on Tuesday, driven by growth in bond trading and investment banking.
Goldman Sachs profit rises 44 pct
(Reuters) - Goldman Sachs Group Inc reported a 44 percent rise in second-quarter profit on Tuesday, driven by strength in its investment banking and fixed income trading businesses.
Japan, EU sign free trade agreement
Japanese Prime Minister Shinzo Abe and European Union (EU) leaders signed a free trade agreement on Tuesday, eliminating tariffs on a majority of their products to enhance business between the two sides.
Ashok Leyland posts Rs 370 crore profit in Q1
Commercial vehicles major Ashok Leyland Ltd on Tuesday said it closed the first quarter of the current fiscal with a net profit of Rs 370.10 crore.
Zaggle announces acquisition of Click&Pay
Zaggle, a payments and group dining company today announced the acquisition of city-based Click&pay, a tech start up backed by Dubai-based Investors in a cash-and-stock deal. According to a company release, the acquisition will enable it to build a "World Class Expense Management Platform" and create a unique value proposition for its customers. Zaggle being a platform thatconnects consumer and corporate spends to merchants through proprietary tech platforms like Employee Perk System, Reward and Recognition Program, Channel Incentive and Online Cashback. Zaggle's huge customer base and Click&Pay unique payment proposition will enable customers to consolidate expense management and bring about an efficient mechanism within the organisations, it said. Founder of Click&Pay Kalyan Karteek said, the partnership would help create a vibrant corporate ecosystem where millions of corporates get the opportunity of consolidating and centralising all travel, health and ..
Mediaset and F2i launch bid for EI Towers, spur sector tie-up hopes
MILAN (Reuters) - Italy's biggest commercial broadcaster, Mediaset, has joined forces with infrastructure fund F2i to launch a takeover bid for masts group EI Towers, in a move widely expected to spur further consolidation in the sector.