Page 3276 - Business Finance
Gold falls on weak overseas cues, low demand
Gold prices drifted further lower by Rs 95 to Rs 31,115 per 10 grams at the bullion market today, extending its fall for the fourth straight day, tracking a weak global trend amid fall in demand from local jewellers. However, silver held steady at Rs 40,030 per kg in scattered deals. Traders said sentiment remained bearish on the back of subdued global trend, as the dollar extended gains from the previous session when US inflation data and trade war concerns boosted demand for the greenback. Globally, gold fell 0.47 per cent to USD 1,241.10 an ounce and silver 0.66 per cent at USD 16.82 an ounce in Singapore. Besides, fall in demand from local jewellers as well as retailers at the domestic spot market too weighed on prices. In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 95 each to Rs 31,115 an Rs 30,965 per 10 grams, respectively. It had lost Rs 440 in last three days. Sovereign gold also slipped by Rs 100 to Rs 24,700 per piece of eight ...
R S Software hits the roof
R S Software (India) hit an upper circuit limit of 20% at Rs 46.10 at 13:59 IST on BSE after the company said it emerged as the lowest bidder in the reverse online auction conducted by National Payments Corporation of India.
BOJ may project inflation missing its target for 3 more years: sources
TOKYO (Reuters) - The Bank of Japan this month might concede that inflation could fall short of its 2 percent target for as long as three more years, sources say, in what would be the strongest sign yet of acceptance that its goal cannot be reached quickly.
Australia, India 'too far apart' to conclude CECA soon: Aus report
The negotiating positions of Australia and India are "too far apart" to conclude the bilateral Comprehensive Economic Cooperation Agreement (CECA) in the near term, said an Australian government's report on the country's economic strategy for India. The report titled 'An India Economic Strategy to 2035' -- authored by former Australian high commissioner to India Peter Varghese -- said Canberra should focus on securing some of the objectives of the CECA with India through the Regional Comprehensive Economic Partnership (RCEP). The negotiation for the CECA between India and Australia, was started in 2011 to provide fillip to trade and investments between the countries. Several rounds of negotiations have been completed for liberalising trade and services regime, besides removing non-tariff barriers and encouraging investments. But, both the sides have yet to resolve issues pertaining to goods and services. Making a list of total 90 recommendations on making India its top destination for
China's trade surplus with U.S. hits record as exporters rush to beat tariffs
BEIJING (Reuters) - China's trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington.
India presents great business opportunities: Alibaba Cloud
With Indian organisations already spending heavily on public Cloud services, time is now right to do business in the country, a top executive from Alibaba Cloud, the cloud computing arm of Chinese giant Alibaba Group, said on Friday.
There is a need to understand product specific supply chains for India urges Commerce Minister
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Hero MotoCorp Ltd slips for fifth straight session
The stock is quoting at Rs 3462.4, down 1.04% on the day as on 13:19 IST on the NSE. Hero MotoCorp Ltd tumbled 7.87% in last one year as compared to a 11.66% rally in NIFTY and a 1.15% spurt in the Nifty Auto index.
Gold prices subdued as dollar extends gains
BENGALURU (Reuters) - Gold prices were muted on Friday, stuck in a tight trading range, as the dollar extended rally from the previous session when strong U.S. inflation data and trade war concerns boosted demand for the greenback.
JP Morgan raises oil price outlook, but trims demand-growth forecast
(Reuters) - Investment bank JP Morgan on Friday raised its outlook for oil prices, but lowered its forecast for global crude demand-growth this year amid increasing uncertainty over international trade.
China stocks have best week in two years
SHANGHAI (Reuters) - China stocks ended mixed on Friday, but posted their best weekly gain in more than two years.
Rupee up 10 paise to 68.42 against US dollar
The rupee pared its initial gains, while trading 15 paise higher at 68.42 against the American currency in late morning deals on continued bouts of dollar selling from banks and exporters. The rupee resumed sharply higher at 68.32 from yesterday's closing level of 68.57 at the inter-bank foreign exchange here. The Indian unit traded between 68.31 and 68.43 on sustained selling of the US dollar by banks during morning deals, it was quoting at 68.42 at 1030 hrs. "Macro concerns and dollar's strength pressured the rupee sentiment," a dealer said. Meanwhile, the domestic industrial production slipped to a seven-month low of 3.2 per cent in May due to sluggish performance of manufacturing and power sectors, while retail inflation continued to remain firm in June on costlier fuel. Overseas, the US dollar was buoyant near a 10-day peak against its major peers in early Asian trade, supported by US Treasury yields that edged higher on expectations the American inflation rate will rise. The ...
Fortis picks IHH to takeover hospital chain
Fortis Healthcare today said its board has picked Malaysia's IHH Healthcare to take control of India's second-largest hospital chain, ending months of takeover battle. Fortis board picked up IHH offer to infuse Rs 4,000 crore of capital by way of subscription to preferential shares, over rival TPC-Manipal consortium's offer that included Rs 2,100 crore infusion and merger of Manipal Hospitals with Fortis Healthcare. IHH, which will get 31 per cent stake in Fortis Healthcare through the preferential allotment of shares at Rs 170 apiece, will make an open offer for an additional 26 per cent at the same price. The open offer will cost another Rs 3,300 crore. The offer price is about 20 per cent higher than Fortis' closing price on Thursday. Based on the offer price of Rs 170 per share, the implied equity valuation for 100 per cent of Fortis Healthcare is Rs 8,880 crore (RM 5.2 billion). "The transaction is expected to be completed within 7 business days of receipt of shareholders' and ...
D B Corp Ltd is up for a third straight session in a row
The stock is quoting at Rs 285, up 1.17% on the day as on 12:49 IST on the NSE. D B Corp Ltd is down 24.63% in last one year as compared to a 11.61% fall in NIFTY and a 4.47% fall in the Nifty Media index.
Edelweiss Financial Services Ltd is up for a third straight session today
The stock is quoting at Rs 303.3, up 1.88% on the day as on 12:49 IST on the NSE. Edelweiss Financial Services Ltd is up 55.74% in last one year as compared to a 11.61% jump in NIFTY and a 15.81% jump in the Nifty Financial Services index.
China's trade surplus with US hits record as exporters rush to beat tariffs
BEIJING (Reuters) - China's trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington.
Oil futures edge lower, set for big weekly declines, on oversupply concerns
TOKYO (Reuters) - Oil prices fell on Friday as markets digested big swings earlier in the week that have left both major benchmarks facing a second weekly loss and largely shrugged off a warning about tightness in spare capacity.
Sensex, Nifty flat; state-run banks fall
(Reuters) - India's benchmark BSE index scaled a new peak on Friday before trading flat as retail inflation hit a five-month high in June and stayed above the central bank's target for the eighth straight month, raising chances of a rate hike.
Twitter tests new advertisement strategy for trending topic
Micro blogging site Twitter is reportedly starting to test a new advertising strategy to boost revenue from its trending topics.
KPIT Technologies Ltd is up for a fifth straight session in a row
The stock is quoting at Rs 302.05, up 0.8% on the day as on 12:44 IST on the NSE. KPIT Technologies Ltd is up 121.61% in last one year as compared to a 11.61% spurt in NIFTY and a 41.08% spurt in the Nifty IT.