Page 3262 - Business Finance
Goldman to formally name David Solomon next CEO early this week: NYT
(Reuters) - Goldman Sachs Group Inc is expected to name its president, David Solomon, its next chief executive officer early this week, the New York Times reported on Sunday.
Dr Reddy's shares tank nearly 11% after US District Court's decision on sale of product
Shares of Dr Reddy's Laboratories today slumped nearly 11 per cent following a decision made by the District Court of New Jersey with respect to further sale and commercialisation of its product in the US. After opening the day on a weak note, the stock further plunged 9.48 per cent to Rs 2,097.70 on BSE. On NSE, shares of the company cracked 10.77 per cent to Rs 2,069.95. Dr Reddy's Lab on Saturday said it will appeal the decision of the US District Court of New Jersey regarding further sale and commercialisation of its Buprenorphine and Naloxone sublingual film in America. "The company disagrees with the court's decision, and will vigorously appeal it," Dr Reddy's said in a BSE filing. The company intends to appeal the decision made by the US District Court of New Jersey in a preliminary injunction hearing with respect to further sale and commercialisation of its product in the US, it added. The product is indicated for treatment of opioid dependence.
Cottonseed oil cake futures ease on weak spot cues
Cottonseed oil cake prices inched lower by Rs 8 to Rs 1,781.50 per quintal in futures trade today as traders trimmed positions in sync with negative physical markets sentiments. Market players said the fall in cottonseed oil cake prices was mostly due to off-loading of positions by investors in line with a weak trend at the spot markets on sluggish demand from cattle feed makers against ample stocks position. At the National Commodity and Derivatives Exchange counter, cottonseed oil cake delivery for the most-traded August shed Rs 8 or 0.45 per cent to Rs 1,7681.50 per quintal, with an open interest of 1,07,210 lots. Similarly, the delivery for September eased by Rs 4 or 0.22 per cent to Rs 1,793.50 per quintal, showing an open interest of 49,670 lots.
Silver futures soar Rs 76 on firm global cues
Silver prices were higher by Rs 76 to Rs 39,122 per kg in futures trading today as participants widened their bets amid a firming trend in precious metals overseas. At the Multi Commodity Exchange, silver for delivery in far-month September was trading higher by Rs 76, or 0.19 per cent, at Rs 39,122 per kg, in a business turnover of 175 lots. Analysts said bets enlarged by speculators in tandem with a firming trend in precious metals overseas, influenced silver prices at futures trade. Meanwhile, silver was up 0.16 per cent at USD 15.81 an ounce in Singapore.
Britannia Industries Ltd gains for a third straight session
The stock is quoting at Rs 6555.05, up 1.23% on the day as on 12:49 IST on the NSE. Britannia Industries Ltd is up 77.27% in last one year as compared to a 10.83% spurt in NIFTY and a 8.62% spurt in the Nifty FMCG index.
Piramal Enterprises Ltd up for a fifth straight session
The stock is quoting at Rs 2534.05, up 0.58% on the day as on 12:44 IST on the NSE. Piramal Enterprises Ltd is down 13.43% in last one year as compared to a 10.8% jump in NIFTY and a 11.08% jump in the Nifty Pharma.
TCS receives award for The Best Innovation Centre
At The Asian Banker Financial Technology Innovation Awards 2018
Wholesale Price Inflation Soars To 4 Year High
The official Wholesale Price Index for 'All Commodities' (Base: 2011-12=100) for the month of June, 2018 rose by 1.1% to 119.2 (provisional) from 117.9 (provisional) for the previous month. The annual rate of inflation, based on monthly WPI, stood at 5.77% (provisional) for the month of June, 2018 (over June, 2017) as compared to 4.43% (provisional) for the previous month and 0.90% during the corresponding month of the previous year. This is the highest level in four years for the WPI. Build up inflation rate in the financial year so far was 2.49% compared to a build up rate of -0.44% in the corresponding period of the previous year.
Sensex, Nifty edge lower; pharma, energy stocks top drag
(Reuters) - The Sensex and Nifty fell on Monday, dented by losses in energy and healthcare stocks, with subdued Asian peers dampening sentiment further, while technology stocks gained with Infosys Ltd hitting an all-time high on upbeat quarterly results.
India's wholesale inflation rate rises to 5.77% in June
Rise in prices of manufactured products along with that of food articles and fuel types accelerated India's wholesale inflation rate at 5.77 per cent compared to 4.43 per cent in the previous month, official data showed on Monday.
Guar seed futures climb 3% on positive physical mkt cues
Guar seed prices went up by 3 per cent to Rs 4,125 per quintal in futures trade today as participants created positions, taking positive cues from the physical markets. A significant rise in guar seed prices was mostly attributed to big positions built up by participants following a firm trend at the spot markets on robust demand from guar gum makers amid a pause in supplies from growing belts, marketmen said. At the National Commodity and Derivatives Exchange, guar seed to be delivered in this month's contracts rose by Rs 120, or 3 per cent, to Rs 4,125 per quintal, clocking an open interest of 360 lots. Also, the contract for delivery in October spurted by Rs 119.50, or 2.86 per cent, to Rs 4,302 per quintal, with 1,01,940 open lots.
Ashoka Buildcon allots 9.35 crore equity shares
Under bonus issue
Turmeric futures rise 1.83% pc on good demand
Turmeric prices rose by 1.83 per cent to Rs 7,088 per quintal in futures trade today as stockists engaged in fresh buying tracking up-tick in spot demand. Besides, fall in supplies from growing regions also fuelled the up-trend. At the National Commodity and Derivatives Exchange, turmeric for delivery in August was trading higher by Rs 130, or 1.83 per cent, to Rs 7,088 per quintal, with an open interest of 17,495 lots. The contract for September delivery was trading at Rs 7,110, up by 1.71 per cent or Rs 120. The open interest of the contract stood at 5,985 lots. Analysts said, fresh positions created by participants following upsurge in domestic as well as exports demand at the spot market against restricted supplies from producing regions, mainly pushed up turmeric prices at futures trade.
Bhansali Engineering drops after dull Q1 outcome
Bhansali Engineering Polymers lost 5% to Rs 128.50 at 11:58 IST on BSE after net profit declined 0.65% to Rs 16.77 crore on 10.17% fall in total income to Rs 201.98 crore in Q1 June 2018 over Q1 June 2017.
Aurobindo Pharma to acquire Apotex' businesses in Poland, Czech Republic, the Netherlands, Spain and Belgium
The acquisition is in line with Aurobindo's strategy to strengthen and grow its European business and to expand in Eastern Europe.
First Fiddle Restaurants aims top-line growth by 2020; to opt for franchising route to expansion
In line with prolific concepts and innovations, MD & CEO First Fiddle Restaurants, Priyank Sukhija now aims to endeavor Rs. 500 crore top-line growth along with a chain of new restaurants by the year 2020."First Fiddle plans to open 25 new restaurants by 2020 in its endeavor for Rs. 500 crore top-line. The group currently operates 25 restaurants and has recently adopted the franchising route to expansion," said Priyank Sukhija in an email interaction to ANI.While elaborating on the details about the company's expansion, he said that future expansion will include tier II cities through the existing brands like Tamasha, Flying Saucer and Lord of the Drinks, while opening new properties simultaneously."The newest steps taken by the group is tapping established international markets like Dubai, Singapore, and London for further expansion," he added while hinting on the International expansion plans.On the sidelines of expansion, he said that the company plans to raise external funds ..
Sensex, Nifty pare intraday losses
Key indices pared losses in early-afternoon trade after hitting fresh intraday low in mid-morning trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, was down 65.51 points or 0.18% at 36,476.12. The Nifty 50 index was down 33.20 points or 0.30% at 10,985.70. The Nifty was trading below the psychologically important 11,000 mark in morning trade after opening above that level.
June WPI soars to 5.77%; marks a high of 4.5-years
India's wholesale inflation grew 5.77 percent in June, marking a four-and-half year high.Driven by some food items and fuel prices, the latest price data released by the commerce and industry ministry shows the Wholesale Price Index (WPI) witnessing a growth of 4.43 percent in May and 0.90 percent in June 2017.Wholesale inflation rate, which is measured by Wholesale Price Index (WPI) shows that primary articles, which accounts for more than a fifth of the entire wholesale price index, grew 5.3 percent in June from 3.16 percent in May.On the other hand, prices for vegetables grew 8.12 percent in June as compared with a growth of 2.51 percent in May.Prices of pulses have continued to slump for over a year now, with rate of decline relatively slowing at (-)20.23 percent in June, as compared with a de-growth of (-)21.13 percent in May.Similarly, fuel and power inflation, which has a weightage of 13.15 percent in WPI, grew at 16.18 percent in June from 11.22 percent in May.Petrol prices ...
WPI inflation rises to 5.77 pc in June on costlier veggies, fuel
Inflation based on wholesale prices shot up to 5.77 per cent in June on increasing prices of vegetables and fuel items. The Wholesale Price Index (WPI) based inflation stood at 4.43 per cent in May and 0.90 per cent in June last year. According to the government data released today, inflation in food articles stood at 1.80 per cent in June 2018, as against 1.60 per cent in the preceding month. Inflation in vegetables jumped to 8.12 per cent in June, from 2.51 per cent in the previous month. Inflation in 'fuel and power' basket too rose sharply to 16.18 per cent in June from 11.22 per cent in May as prices of domestic fuel increased during the month in line with rising global crude oil rates. Potato inflation was at a peak of 99.02 per cent, against 81.93 per cent in May. Price rise in onion was 18.25 per cent during June, as against 13.20 per cent in the preceding month. Deflation continued in pulses at 20.23 per cent in June. The WPI inflation for April was revised upwards to 3.62 ...