Page 33 - Business Finance
Asian Oilfield Services bags orders worth USD 37 million
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M&M skids after announcing price hike
Mahindra & Mahindra fell 1.71% to Rs 615.25 at 15:11 IST on BSE after the company announced price increase for personal range of vehicles from 1 July 2019.
Gold, silver prices rise on increased offtake
Gold prices rose marginally by Rs 20 to Rs 33,740 per 10 gm at the bullion market in the national capital on Wednesday, while silver surged by Rs 130 to Rs 38,350 per kg, according to the All India Sarafa Association. Traders said increased offtake by industrial units and coin makers mainly pushed up silver prices. Globally, spot gold was trading lower at USD 1,343 an ounce, while silver was down at USD 15.01 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 20 each to Rs 33,740 and Rs 33,570 per 10 gram, respectively. Sovereign gold, however, held steady at Rs 26,800 per eight gram. On Tuesday, gold rose by Rs 100 to Rs 33,720 per 10 gram. Meanwhile, silver ready rose by Rs 130 to Rs 38,350 per kg, while weekly-based delivery gained Rs 46 to Rs 37,302 per kg. Price of silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
Rajesh Exports bags new order worth Rs 942 crore from Germany
Rajesh Exports, the world's largest manufacturer of gold products, said on Wednesday that it has bagged an order worth Rs 942 crore to supply a designer range of jewellery from Germany.The contract is to be completed by August 2019, it said in a statement. The company will execute the order from its own manufacturing facility which has a processing capacity of 250 tonnes of jewellery and gold products per year."The hard work of the company's designers and manufacturing personnel has paid rich dividends in the international markets," said Chairman Rajesh Mehta.He said the company will execute the order within the time frame by leveraging its expertise, skilled craftsmen, artisans and strong backward integrated infrastructure.With annual sales of Rs 1.75 lakh crore (or 25 billion dollars), Rajesh Exports processes 35 per cent of gold produced in the world. It is the only company with a presence across the value chain of gold -- from mining till its own retail brand.After its recent ...
Goa govt to provide financial assistance to new taxi operators
Amidst a tussle between traditional tourist taxi operators and app-based service providers in Goa, the state government Wednesday announced a scheme which proposes to provide a financial assistance to the locals for buying vehicles for operating a taxi service. Goa Tourism Development Corporation (GTDC) chairman Dayanand Sopte told reporters the financial scheme was aimed at providing employment to the Goans who can now buy vehicles with the government assistance. He said the vehicle purchased could be converted into taxis. Traditional taxi operators in Goa, which attracts lakhs of domestic and foreign tourists throughout the year, have been opposing 'Goa Miles', the app-based taxi service introduced by the GTDC in August last year. Amidst protests, Chief Minister Pramod Sawant had asked the tourist taxi operators to join the app-based service on a trial basis for a month before forming their opinion about it. Sopte said the app-based taxi service is an accepted norm ...
Amazon opens T'gana's largest delivery centre in Hyderabad
E-commerce giant, Amazon India Wednesday launched its largest delivery station here in Telangana, which would improve its capabilities to speed up last-mile deliveries for customers in the neighbouring Ranga Reddy district. "Today is the launch of the largest delivery centre in Telangana which expands over 20,000 square feet serving thousands of customers. Over the last two to three months we are expanding our network in Telangana. Today we have close to 90 delivery stations in the state with over 12 in Hyderabad itself," Prakash Rochlani, Director, Last Mile Transportation, Amazon India told reporters here. "Along with this we also have 2,500 stores which help us deliver to our customers with the same experience that Amazon offers," he said. He noted that Amazon has three fulfilment centres in Hyderabad with more than 3.2 million of storage space and two sort centres with one lakh square feet of processing capacity. The E-commerce company also has close to 90 ...
Reforms and transparency needed for Belt and Road success: World Bank
China's global Belt and Road Initiative could boost economies and reduce poverty rates in dozens of developing countries, but risks environmental damage, debt and corruption if improvements aren't made, the World Bank said Wednesday. President Xi Jinping's signature foreign policy aims to reinvent the ancient Silk Road to connect Asia to Europe and Africa through massive investments in maritime, road and rail projects -- with hundreds of billions of dollars in financing from Chinese banks. Critics, however, say the six-year-old BRI is a plan to boost Beijing's global influence, riddled with opaque deals favouring Chinese companies, and will saddle nations with debt and environmental damage. The World Bank's "Belt and Road Economics" report said the project has "the potential to substantially improve trade, foreign investment, and living conditions", but only if China and corridor countries make policy reforms to improve transparency, expand trade and mitigate against environmental and
Board of Whirlpool of India approves change in directorate
At meeting held on 19 June 2019
GAIL (India) fixes record date for bonus issue
Record date is 10 July 2019
Jain Irrigation Systems Ltd leads losers in 'A' group
Jet Airways (India) Ltd, Housing Development & Infrastructure Ltd, Vakrangee Ltd and Reliance Capital Ltd are among the other losers in the BSE's 'A' group today, 19 June 2019.
Aksh Optifibre Ltd leads losers in 'B' group
Industrial Investment Trust Ltd, R&B Denims Ltd, B A G Films & Media Ltd and Reliance Naval & Engineering Ltd are among the other losers in the BSE's 'B' group today, 19 June 2019.
Daimler, HPCL launch co-branded fleet card
: Daimler India Commercial Vehicles, a subsidiary of German commercial vehicle-maker Daimler, Wednesday said it has launched a co-branded fleet card in association with oil marketing major Hindustan Petroleum Corporation Ltd to offer its services for its entire range of trucks. According to the agreement, BharatBenz customers would be eligible for DIESELAABH fleet card enabling them to save about Rs 50,000 per annum. BharatBenz has designed the programme to reduce diesel cost borne by the fleet operators in the form of loyalty programme. The loyalty points can be redeemed at HPCL fuel stations. "At BharatBenz, the constant effort is to enhance our customer experience at every step of their journey. The BharatBenz DIESELAABH fleet card is a progress in this direction," DICV vice-president (Marketing and Sales) Rajaram Krishnamurthy said in a statement. "As diesel is the highest expense for transporters,this card will help in additional fuel savings," he said. The ...
Soybean prices fall on weak demand
Soybean prices fell by Rs 26 to Rs 3,616 per quintal in futures trade Wednesday on subdued cues from the market. At the National Commodity and Derivatives Exchange, soybean contracts for July delivery fell by Rs 26, or 0.71 per cent, to Rs 3,616 per quintal with an open interest of 1,05,890 lots. Soybean contracts for August delivery also dipped by Rs 20, or 0.55 per cent, to Rs 3,640 per quintal with an open interest of 25,970 lots.
Refined soya oil futures slide on adequate stocks
Refined soya oil prices Wednesday eased 0.46 per cent to Rs 740 per 10 kg in futures trade as speculators trimmed bets, triggered by adequate stocks at the spot market. At the National Commodity and Derivatives Exchange, refined soya oil for July contracts declined by Rs 3.4, or 0.46 per cent, to Rs 740 per 10 kg with an open interest of 47,240 lots. Likewise, the oil for August contracts fell by Rs 2.35, or 0.32 per cent, to Rs 728.55 per 10 kg in 19,740 lots. Market analysts said, cutting down of positions by participants due to decline in demand against ample stocks mainly influenced the prices.
Volumes soar at Shriram City Union Finance Ltd counter
Shriram City Union Finance Ltd recorded volume of 29582 shares by 14:19 IST on NSE, a 9.86 times surge over two-week average daily volume of 3000 shares
Nifty slips into the red; PSU OMCs slide
The Sensex was almost flat while the Nifty slipped into negative terrain in mid-afternoon trade. At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 12.82 points or 0.03% at 39,059.16. The Nifty 50 index was down 11.55 points or 0.10% at 11,680.00.
KTM launches RC 125 ABS model at Rs 1.47 lakh
Austrian bike maker KTM Wednesday launched its all-new RC 125 ABS model at an introductory price of Rs 1.47 lakh. The company, which is a part of Bajaj Auto, said bookings for the bike commenced from Wednesday at 470 exclusive KTM showrooms in the country and deliveries will start by the end of the month. Powered by a 124.7 cc engine, the all-new RC 125 gives biking enthusiasts an entry into KTM's world of supersport motorcycling, Bajaj Auto said in a statement. "KTM motorcycles are built to a purpose of winning performance and handling. It is no different with the RC 125 which will provide a true KTM experience to the motorcycle enthusiast seeking to enter our supersport world," Bajaj Auto Vice President (Probiking) Sumeet Narang said.
Thomas Cook India sees 22 pc growth in bookings this summer
Travel services firm Thomas Cook India Wednesday said it has witnessed 22 per cent growth in bookings this summer driven by various factors including rising demand from smaller cities and the country's transition from a saver's economy to a spender's economy. The company's data reiterated a strong shift in source markets to regional tier 2 and 3 cities and towns, Thomas Cook India said in a filing to BSE. According to Thomas Cook India, metro/mini-metro cities such as Mumbai, New Delhi, Hyderabad, Bengaluru, Ahmedabad and Chennai continue to witness an increase in demand with 20 per cent growth over last year. While, tier 2 and 3 markets such as Amritsar, Karnal, Guwahati, Ranchi, Aurangabad, Vishakapatnam, Hubli, Udaipur and Vijaywada have shown a high growth in demand upwards of 30 per cent. "Summer has always been a peak travel season, this year, we have noticed a significant growth in bookings of 22 per cent as compared to the previous year," Thomas Cook (India) Holidays, MICE, ...
Board of Lawreshwar Polymers proposed to change company name
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Blue Star spurts after receiving MMRCL order
Blue Star rose 4.04% to Rs 785 at 13:14 IST on the BSE after the company said it was awarded a single largest order from Mumbai Metro Rail Corporation.