Page 3290 - Business Finance
Brent oil gains $1 to claw back some losses as Libyan exports to resume
TOKYO (Reuters) - Brent crude rose more than $1 on Thursday, recouping some ground after its biggest one-day drop in two years during the previous session after Libya said it would resume oil exports and U.S.-China trade tensions raised demand concerns.
Advanced Enzyme Technologies receives organic certification from APEDA
Under the National Program for Organic Production
Axis Bank to table results
On 30 July 2018
Dolat Investments to convene board meeting
On 23 July 2018
Wheat futures inch higher by 0.21% on speculative buying
Wheat prices traded marginally up by 0.21 per cent to Rs 1,893 per quintal in futures trade today as speculators built up fresh positions. At the National Commodity and Derivatives Exchange, wheat for delivery in August was trading higher by Rs 4, or 0.21 per cent, to Rs 1,893 per quintal with an open interest of 7,610 lots. Analysts said fresh positions created by traders due to improved demand in the physical market and a pause in arrivals from producing belts influenced wheat prices in futures trade.
Coffee Day Enterprises gains on signing pact with Uber Eats
Coffee Day Enterprises rose 2.39% to Rs 270.35 at 11:16 IST on BSE after the company said it signed an agreement with UberEats for distribution of food products for five years.
Board of AVT Natural Products decides to set up subsidiary in Mexico
At meeting held on 12 July 2018
L&T construction arm bags orders worth Rs 2,388 cr
Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 2,388 crore in the domestic market. L&T in a regulatory filing said its water and effluent treatment business has bagged orders worth Rs 2,388 crore from the Madhya Pradesh Jal Nigam Maryadit and Tirunelveli Municipal Corporation. The order from the Madhya Pradesh Jal Nigam Maryadit is for the execution of Satna, Kundatiya and Mohanpura Multi Village Rural Water Supply Schemes on turnkey basis. The projects are funded by the New Development Bank. L&T said the company has also received an order from the Tirunelveli Municipal Corporation for providing Underground Sewerage Scheme (UGSS) to additional areas of Tirunelveli Corporation - Phase II. Shares of L&T were trading at Rs 1,293.65 apiece, up 1.46 per cent, from the previous close on BSE.
Silver futures remain weak, shed 0.16% on global cues
Silver prices fell further by 0.16 per cent to Rs 39,226 per kg in futures trade today as speculators cut bets, amid a weak trend overseas. At the Multi Commodity Exchange, silver for delivery in September declined by Rs 64, or 0.16 per cent, to Rs 39,226 per kg in a business turnover of 1,433 lots. Similarly, the white metal for delivery in December contracts shed Rs 47, or 0.12 per cent, to Rs 40,100 per kg in 13 lots. Analysts said cutting down of positions by participants in line with a weak trend overseas kept silver prices down at futures trade. Meanwhile, silver fell by 1.53 per cent to USD 15.78 an ounce in New York in Yesterday's trade.
Nspira Management Services raises USD 75 Mn of equity capital
Nspira Management Services has announced raising funds worth ~USD 75 million of equity investment led by a fund managed by Morgan Stanley Private Equity Asia and Banyan Tree Growth Capital II.Nspira, which is one of the largest management services players in the private education space in India, provides end-to-end spectrum of services to over 500 educational institutions with a student base of close to 400,000 across 13 states in India.Further, Nspira also offers coaching services in the medical and engineering competitive examinations space.As part of the current transaction, a fund managed by Morgan Stanley Private Equity Asia has invested about USD 67MM of primary capital into the Company for a minority stake. The proceeds will be used to fund the organic and inorganic growth plans of the Company. Anand Rathi acted as the sole financial advisor to Nspira for this transaction."We will be deploying the funds to scale our business geographically, increase our client base, develop ...
Barley futures spurt on brisk spot demand
Barley prices strengthened by Rs 29 to Rs 1,529.50 per quintal in futures trade today as investors accumulated holdings buoyed by strong demand in spot market. Market players said, traders were enhancing bets on the back of positive physical markets leads, which led to an uptick in barley futures prices. In the spot market, robust demand from beer making industries amid a pause in supplies from growing belts mainly kept prices northward, they said. At the National Commodity and Derivatives Exchange, barley delivery for July hardened by Rs 29, or 1.93 per cent, to Rs 1,529.50 per quintal, with an open interest of 1,200 lots. The August delivery also followed suit gaining Rs 23.50, or 1.53 per cent, to Rs 1,554.50 per quintal, in a business turnover of 10,330 open lots.
Gold futures slide 0.22 pc on global cues
Gold prices drifted lower by 0.22 per cent to Rs 30,242 per 10 grams in futures trade today as participants trimmed positions tracking a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in August fell by Rs 68, or 0.22 per cent, to Rs 30,242 per ten gram in a business turnover of 686 lots. Likewise, the yellow metal for delivery in October was trading lower by a similar margin to Rs 30,540 per ten grams in 123 lots. Analysts said the fall in gold futures was mostly in tune with a weak trend overseas. Meanwhile, gold fell 1.12 per cent to USD 1,241 an ounce in New York in yesterday's trade.
L&T Construction bags orders worth Rs 2388 crore
Under water and effluent treatment business segment
Global Markets: Stocks, commodities recover after latest trade war jolt
TOKYO (Reuters) - Stocks and commodities recovered slightly on Thursday as markets tried to consolidate from the previous session's steep losses when fears of an escalation in the U.S.-China trade war jolted investor sentiment.
Robust demand lifts nickel futures 1.72 pc
Nickel prices traded higher by 1.72 per cent to Rs 975.10 per kg in futures market today as speculators built up fresh positions. At the Multi Commodity Exchange, nickel for delivery in July moved up by Rs 16.50, or 1.72 per cent, to Rs 975.10 per kg in a business turnover of 3,796 lots. On similar lines, the metal for delivery in August was trading higher by Rs 16.20, or 1.68 per cent, to Rs 979.30 per kg in 101 lots. Analysts said fresh positions created by participants after upsurge in demand from alloy-makers in the physical market mainly led to the rise in nickel prices at futures trade.
Zinc futures edge up 0.23 pc on positive spot cues
Zinc prices inched up by 0.23 per cent to Rs 177.50 per kg in futures trade today as speculators created fresh positions taking positive cues from the spot market on pick up in demand. At the Multi Commodity Exchange, zinc for delivery in July edged up by 40 paise, or 0.23 per cent, to Rs 177.50 per kg in a business turnover of 884 lots. Similarly, the metal for delivery in August was enquired higher by a similar margin to Rs 177.65 per kg in 43 lots. Analysts said fresh positions built up by participants due to uptick in demand from consuming industries in the physical markets mainly influenced zinc prices at futures trade.
Volumes spurt at Schaeffler India Ltd counter
Schaeffler India Ltd notched up volume of 5006 shares by 10:47 IST on BSE, a 24.54 fold spurt over two-week average daily volume of 204 shares
Cipla's subsidiary to buy South Africa's Mirren South African Rand 450 mn
Drug major Cipla's subsidiary has signed an agreement to fully acquire South Africa's Mirren (Pty) Ltd for a cash consideration of South African Rand 450 million (approx Rs 228 crore). Cipla said the acquisition of Mirren, which specialises in over the counter (OTC) pharmaceutical products, will strengthen its market position and help it to accelerate growth within OTC space. "The company's wholly-owned subsidiary Cipla Medpro South Africa (Pty) Ltd has signed an agreement to acquire 100 per cent stake in Mirren (Pty) Ltd, South Africa," Cipla said in a regulatory filing. The transaction required approval by the South African Competition Commission and is expected to be completed before September 30, 2018, Cipla said. "Cash consideration of South African Rand 450 million to be paid on closing of transaction," the company said. Mirren (Pty) Ltd, South Africa had a turnover of South African Rand 152.1 million for the financial year ended on February 28, 2018. It has presence in South ...
Copper futures rise 0.56 pc on overseas cues
Copper prices went up by 0.56 per cent to Rs 422.50 per kg in futures trade today as speculators built up of fresh positions amid positive global cues. Besides, uptick in demand from consuming industries at the domestic spot market fuelled the uptrend. At the Multi Commodity Exchange, copper for delivery in August rose by Rs 2.35, or 0.56 per cent, to Rs 422.50 per kg in a business turnover of 1,200 lots. Likewise, the metal for delivery in November gained Rs 2.25, or 0.53 per cent, to Rs 429.85 per kg in 13 lots. Market analysts said fresh positions created by participants following a firm trend overseas mainly led to a rise in copper prices at futures trade. Globally, copper for delivery in three-months increased 0.7 per cent to USD 6,189 per metric tonne on the London Metal Exchange.
Sensex scales record high
Stocks extended gains and hit fresh intraday high in morning trade, with the Sensex hitting record high. At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 272.55 points or 0.75% at 36,538.48. The Nifty 50 index was up 83.75 points or 0.76% at 11,032.05. Oil stocks were in demand. Positive Asian stocks boosted sentiment on the domestic bourses.