Page 3309 - Business Finance
JLR India sales up 66% in Jan-Jun period
Jaguar Land Rover India today reported a 66 per cent increase in sales at 2,579 units in the first half of 2018 buoyed by a strong product portfolio. Rohit Suri, president and managing director of the Tatas-run company, said, "We have seen tremendous growth on the back of new launches like the Range Rover Velar, Evoque Convertible and the Model Year 2018 Range Rover and Range Rover Sport. "These, coupled with dedicated retail and after sales initiatives have helped us register a solid growth of 66 per cent in the first half of 2018 at 2,579 units." Other luxury brands also did well with the market leader Mercedes-Benz clocking 12.4 per cent more volumes at 8,061 units and the number two player BMW selling 13 per cent more units at 5,171. Swedish player Volvo reported over 30 per cent spike in volumes at 1,242 units in the first half of 2018. The third largest player Audi has not yet disclosed its half-yearly sales figures.
United Airlines to start Mumbai-New York Boeing 777-300ER service
US' United Airlines on Tuesday announced it will launch its Boeing 777-300ER aircraft service daily from Mumbai to New York/Newark from October 28.
Sensex, Nifty rally on positive global stocks
Domestic bourses logged strong gains on upbeat global stocks. The barometer index, the S&P BSE Sensex, gained 304.90 points or 0.85% at 36,239.62, as per the provisional closing data. The Nifty 50 index gained 94.35 points or 0.87% at 10,947.25, as per the provisional closing data. Shares of index heavyweight Reliance Industries (RIL) advanced.
Hong Kong Market end softer
Shares of energy players rose after crude oil prices continued the recent rally, with September Brent futures rising 1.2% to US$78.07/bbl. CNOOC (00883) put on 2.5% to HK$13.04. PetroChina (00857) gained 2.3% to HK$5.86. Sinopec (00386) added 0.9% to HK$7.09.
China Market extends gain on bargain hunting
The rebound followed a week of savage selling. Chinese markets fell in the run-up to Friday's imposition of tariffs on US$34 billion worth of Chinese goods, which was immediately matched by equivalent tariffs from China on U.S. products.
ClearTax, Zerodha join hands to ease tax woes of Indian investors, traders
India's leading tax, finance, and business compliance company ClearTax and India's leading technology-driven brokerage firm, Zerodha have partnered to offer tax filing solutions to traders and investors across India.Investors who deal with complex securities such as equity, derivatives, commodity, currency, mutual funds etc, find tax compliance challenging. Income tax computation is loaded with complexities for investors and traders as it varies with the type of security, the duration of holdings, and the mode of trading.A trader needs a smart and efficient tax compliance solution to be able to focus all energies and efforts on their core business. Zerodha found its ideal partner in ClearTax to address tax woes of over 9 lakh customers on its platform.The manual entry of hundreds of equity or derivatives transactions is an extremely tedious process and increases exposure to errors that may lead to penalties. Integration between ClearTax and Zerodha platforms aims to help avoid such ...
Nifty July futures at marginal premium
Turnover on NSE's F&O segment rises
India, S Korea ink 11 MoUs
India and South Korea on Tuesday signed 11 Memorandums of Understanding (MOUs) during South Korean President Moon Jae-in's visit to India.According to a Ministry of External Affairs (MEA) release, a joint statement on early harvest package of the upgraded Comprehensive Economic Partnership Agreement (CEPA) was signed to facilitate ongoing negotiations on upgrading the India-RoK (Republic of Korea) CEPA by identifying key areas for trade liberalization (including shrimp, molluscs and processed fish).The agreement was signed by Union Commerce and Industry Minister Suresh Prabhu from the Indian side and Minister for Trade, Industry and Energy Kim Hyun-chong from the South Korean side.A MoU on trade remedies was also signed for cooperation in the area of trade remedies such as anti-dumping, subsidy, countervailing and safeguard measures through consultations and exchange of information through the establishment of a cooperation committee, comprising government officials and domain ...
FPIs continue selling
Net outflow of Rs 512.30 crore on 9 July 2018
Vegoils: Palm oil hits two-year low on weaker Dalian oils, stronger ringgit
KUALA LUMPUR (Reuters) - Malaysian palm oil futures fell more than 1 percent to a two-year low on Tuesday, hurt by weaker oils on China's Dalian Commodity Exchange and a firmer ringgit.
Oil rises above $79 a barrel on Norway strike, Libyan disruption
TOKYO/LONDON (Reuters) - Oil prices rose more than $1 per barrel on Tuesday due to growing supply outages, with Norway shutting one oilfield as hundreds of workers began a strike and Libya saying its production more than halved in recent months.
ICICI Bank, Australia's Westpac join hands to facilitate online fee payment for students
ICICI Bank has tied-up with Austrialia's Westpac Banking Corporation (Westpac) to facilitate online fee payments by Indian students. The online payment of the fees will be routed through outward remittance platform Money2World (M2W). With this, Indian residents, who are customers of any bank in India, can initiate an online remittance to make fee payments to an Australian university at a fixed exchange rate from the comfort of their homes, any time, ICICI Bank said in a release today. The lender said it is the first bank in the country to tie-up with an Australian bank to allow Indian students pay fee online. The full value of remittance will be credited to the beneficiary university without any deduction of charges, the bank said. As a first, ICICI Bank and Westpac have partnered with La Trobe University for this initiative. ICICI Bank aims to tie up with other universities and colleges in Australia as well. The transactions carried out by students using the Money2World platform is ..
Copper, nickel firm up on rising demand
Copper and nickel firmed up at the non-ferrous metal market here today on stockists' buying amid rising demand from industrial users. Elsewhere, tin recovered owing to good demand from alloy industries. While, copper sheet cuttings, brass sheet cuttings and zinc eased due to sluggish demand from consuming industries. Tin prices rebounded by Rs 10 per kg to Rs 1,410 from Monday's closing level of Rs 1,400 and nickel surged by Rs 5 per kg to Rs 1,025 as against Rs 1,020. Copper armature edged up by Rs 2 per kg to Rs 459 as compared Rs 457 yesterday. Copper cable scrap and copper billets inched up per kg each to Rs 472 and Rs 500. However, copper sheet cuttings, brass sheet cuttings and zinc softened by a rupee per kg to Rs 455, Rs 358 and Rs 220.
United to deploy B 777-300ER on BOM-NY/Newark route from Oct
American carrier United Airlines today said it will operate its latest Boeing 777-300ER aircraft to service its Mumbai and New York/Newark route from October. The new wide-body plane, which features the all-new United Polaris business class seats, will replace the 777-200ER, which is currently being used to operate the route, United Airlines said in a release. The third largest US carrier after Delta and American Airlines, United Airlines currently flies once daily between Mumbai and New York/Newark. "We are excited to introduce the 777-300ER to our service between Mumbai and New York/Newark. I am confident our customers in India will appreciate our all-new United Polaris business class seats on board this aircraft," said Harvinder Singh, United Airlines' country manager for India. The American carrier also flies to New Delhi besides Mumbai.
IndusInd Bank Q1 net up 24% at Rs 1,036 cr on NII, loan growth
Private sector lender IndusInd Bank today posted a 24 per cent increase in net profit at Rs 1,036 crore in the June quarter on healthy rise in advances and core interest income. The city-based bank had posted a net profit of Rs 837 crore in the corresponding period last year. The core net interest income rose 20 per cent to Rs 2,122 crore on the back of a 29 per cent loan growth, while the non-interest income moved up to Rs 1,301 crore from Rs 1,167 crore in the year-ago period. The net interest margin (NIM) narrowed to 3.92 per cent and the bank management said it will be stable at the 3.90 per cent level in the future as well. Its managing director and chief executive Romesh Sobti said the bank had to book a mark-to-market (MTM) loss of Rs 85 crore on its G-sec portfolio. The reverses have been fully absorbed through provisioning, he said, adding that the profit growth would have been higher but for this impact. Its overall provisions rose to over Rs 350 crore in the ..
SoftBank tightens grip on Yahoo Japan via $2 billion deal with Altaba
TOKYO (Reuters) - SoftBank Group is increasing its stake in Yahoo Japan through a $2 billion, three-way deal with U.S. firm Altaba to deepen ties with the internet heavyweight ahead of an IPO of its telecoms unit.
Sensex soars 305 pts, recaptures 36k-mark on earnings optimism
Rising for the third straight day, the BSE Sensex rallied about 305 points to end at an over 5-month high of 36,239.62 today as participants wagered on encouraging corporate earnings. Sentiment got a boost on unabated buying by domestic institutional investors (DIIs) and a good set of corporate results so far, brokers said. The 30-share Sensex hit a high of 36,274.33 before ending at 36,239.62, up 304.90 points or 0.85 per cent. It has now gained 665.07 points in three sessions. The benchmark is just a tad lower from its all-time high of 36,283.25 hit on January 29 this year. Similarly, the 50-share NSE Nifty climbed 94.35 points, or 0.87 per cent, to end at 10,947.25. Intra-day, it shuttled between 10,956.90 and 10,876.65. The Sensex and Nifty remained above their key levels of 36,000 and 10,900 throughout the session, indicating robust investor optimism after a prolonged lacklustre spell. Domestic institutional investors (DIIs) picked up shares worth a net Rs 740.39 crore yesterday,
Happy to get merger letter; we will remain competitive: Vodafone CEO designate
British telecom major Vodafone today said it will remain competitive post merger with Idea Cellular in the India market, which has seen huge disruption and turbulent tariff war with entry of new entrant Reliance Jio. "We will remain competitive," Vodafone CEO designate Nick Read told PTI after meeting with top brass at the telecom ministry. The top management of British telecom major Vodafone today met communications minister Manoj Sinha and secretary Aruna Sundararajan following approval of its Indian arm with Idea Cellular. Read confirmed to have received the letter approving the merger. "We are happy to receive the letter," Read said. There have been speculation that Idea Cellular and Vodafone may challenge in court the demand of Rs 3,976 crore for one time spectrum charge of Vodafone India, and joint bank guarantee of Rs 3,342 crore sought by DoT before it grants final approval for the merger. Vodafone CEO Vittorio Colao, who will remain in office till October, said: "I am very ..
Intellect appoints Janet Thomas as CEO, Capital Markets biz
: Intellect Design Arena Ltd, a leader in financial technology across the banking and insurance sectors, today announced the appointment of Janet Thomas as the CEO of it's Capital Markets business. Thomas, prior to taking up this responsibility, was serving Infinity Capital Partners as its Managing Director, Intellect Design Arena Ltd said in a statement. In her over two decade career, Thomas held various responsibilities including Head, Prime Brokerage, Bank of America, Head, Product and Marketing, Citigroup. "..her expertise, network, knowledge and experience will further accelerate Intellect's position as a Global FinTech major. Having Janet Thomas onboard after extensive search as the CEO of Capital Markets at the perfect time", Intellect Design Arena Ltd Chairman and Managing Director Arun Jain said on her appointment. "I am confident Janet will lead the business forward to capitalise on the many opportunities coming our way", he added.
Sensex extends gain to over five-month closing high
(Reuters) - Indian shares rose for a third straight session on Tuesday and posted their highest close in more than five months, led by financials such as Housing Development Finance Corp (HDFC) and energy stocks including Reliance Industries Ltd.