Page 3313 - Business Finance
FPIs sell stake in Manpasand Beverages; Nomura, Parvest Equity exit
Foreign portfolio investors (FPIs) have sharply reduced their stake in SAIF Partners-backed Manpasand Beverages to 13.35 per cent in the June quarter with entities such as Nomura and Parvest Equity India exiting the company. FPIs held 21.56 per cent stake in Manpasand at the end of the previous quarter -- March 31. Nomura Group and Parvest Equity India have exit the Vadodara-based fruit juice maker company. As per the latest BSE shareholding data for June quarter, while Nomura held 4.86 per cent stake in Manpasand through various funds, Parvest Equity held 1.07 per cent stake, as on March 31, 2018. Last month, shares of Manpasand plunged over 60 per cent in a week's time after its statutory auditor Deloitte Haskins & Sells resigned ahead of May 30 board meeting for consideration of financial results. Nomura Group held shares in Manpasand through Nomura India Investment Mother Fund (2.43 per cent), Nomura Trust and Banking (1.38 per cent) and Nomura Funds Ireland Public Ltd Co ...
Britannia Industries Ltd is up for a fifth straight session today
The stock is quoting at Rs 6402.2, up 0.3% on the day as on 12:44 IST on the NSE. Britannia Industries Ltd is up 73.17% in last one year as compared to a 11.64% jump in NIFTY and a 8.39% jump in the Nifty FMCG.
IIFL Holdings Ltd is up for a fifth straight session in a row
The stock is quoting at Rs 674.55, up 0.63% on the day as on 12:44 IST on the NSE. IIFL Holdings Ltd is up 14.71% in last one year as compared to a 11.64% gain in NIFTY and a 16.31% gain in the Nifty Financial Services.
Bank of Baroda gained for a fifth straight session today
The stock is quoting at Rs 120.05, up 2.61% on the day as on 12:44 IST on the NSE. Bank of Baroda is down 26.19% in last one year as compared to a 11.64% spurt in NIFTY and a 14.1% spurt in the Nifty Bank.
Zensar joins Oracle Cloud Managed Service Provider Program
As part of the current industry trend toward data center transformation, many customers want to outsource their data centers to public cloud. These customers are looking for partners who can help migrate, run and manage any workload in the cloud. The Oracle Cloud Managed Service Provider (MSP) program identifies and recognizes partners who have skills, tools and processes to build, deploy, run, and manage Oracle and non-Oracle workloads on Oracle Cloud Platform.
Tata Motors records 12% growth in group global wholesales in June 2018
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M3M sees two-fold jump in property sales to Rs 3,700 cr last fiscal
Realty firm M3M group today said it has sold housing and commercial properties worth about Rs 3,700 crore during the last fiscal, helped by better sales of ready-to-move-in flats and launch of luxury project Trump Towers in January 2018. The company's sales booking stood at around Rs 1,600 crore in the 2016-17 financial year. "M3M has recorded sales close to a whopping Rs 3,700 crore across its projects in Gurgaon during 2017-2018," the company said in a statement. The Gurgaon-based developer sold 921 housing units and 1,000 commercial units covering 8 lakh sq ft area. In value terms, residential segment contributed sales of nearly Rs 2,400 crore while commercial accounted for revenues of about Rs 1,250 crore, the company said, adding that it has become the fastest growing developer in North India. The Trump Tower project contributed nearly Rs 700 crore worth sales last fiscal, a company official said. M3M group director Pankaj Bansal said the company has achieved about Rs 3,700 crore
Chana futures rise 0.95% on strong demand
Chana prices rose by 0.95 per cent to Rs 3,901 per quintal in futures trade today as participants built up fresh positions, taking positive cues from spot market on rising demand from dal mills. At the National Commodity and Derivatives Exchange, chana for delivery in August increased by Rs 37, or 0.95 per cent, to Rs 3,901 per quintal with an open interest of 1,11,630 lots. Similarly, the commodity for delivery in the current month traded higher by Rs 36, or 0.94 per cent, to Rs 3,856 per quintal in 18,820 lots. Analysts said, raising of bets by participants owing to increased demand from dal mills against restricted arrivals from producing belts due to weak sowing progress of kharif pulses kept chana prices higher in futures trade.
Oil prices rise as looming Norway strike adds to disruptions
TOKYO (Reuters) - Oil prices rose on Tuesday on escalating concerns over potential supply shortages, with Brent crude leading the way as hundreds of oil workers in Norway were set to strike later in the day.
Home bias props up Indian stocks in face of foreign sales
(Reuters) - India's domestic institutional investors have been sapping up shares this year, helping put a floor under its stock markets even as foreigners flee on concerns over the country's accelerating consumer prices, rising global yields and a falling rupee.
Guar gum futures drop further on low export demand
Guar gum prices fell further by Rs 44 to Rs 8,950 per quintal in futures trade today following liquidation of the holdings by participants in tune with negative physical markets sentiment amid weak export demand. Marketmen said, participants were off-loading holdings constantly in pressure of lower physical markets along with tepid export demand for oil drilling industries, which kept guar gum futures prices down for the second session today. At the National Commodity and Derivatives Exchange, guar gum delivery for October dropped by Rs 44, or 0.49 per cent, to Rs 8,950 per quintal, with an open interest of 54,555 lots. Similarly, the delivery of July contracts eased by Rs 22, or 0.25 per cent, to Rs 9,658 per quintal with an open interest of 10,185 lots.
Turmeric futures rise 1.10% on firm demand
Turmeric prices rose by 1.10 per cent to Rs 7,142 per quintal in futures trade today after participants built up fresh positions on the back of pick up in domestic and export demand. Restricted supplies from growing regions also fuelled the upward movement. At the National Commodity and Derivatives Exchange, turmeric for delivery in August was trading higher by Rs 78, or 1.10 per cent, to Rs 7,142 per quintal with an open interest of 17,615 lots. The spice for delivery in the current month also increased by Rs 70, or 1 per cent, to Rs 7,070 per quintal in an open interest of 2,505 lots. Analysts said, fresh positions created by participants following the upsurge in domestic as well as export demand at the spot market against restricted supplies from producing belts pushed up turmeric futures.
Tata Motors global sales up 10% in June
Tata Motors today reported 10.07 per cent rise in global sales, including that of Jaguar Land Rover (JLR), to 100,135 units in last month. It had sold 90,966 units in June last year. Global wholesale units of all Tata Motors' commercial vehicles and Tata Daewoo range in June this year stood at 44,229 units, up 46.25 per cent from 30,241 units a year ago, the company said in a statement. The company's global sales of all passenger vehicles were at 55,906 units, 7.93 per cent lower than 60,725 units in June 2017. Global sales of JLR were 37,490 units. Jaguar wholesale units for the month were 10,354 vehicles, while those of Land Rover stood at 27,136 vehicles.
Nila Infrastructure secures work order worth Rs 53.84 crore
From Adani Group's Shantigram Estate Management
Sathavahana Ispat Ltd leads gainers in 'B' group
Electrotherm (India) Ltd, TCI Finance Ltd, Vardhman Polytex Ltd and Ujaas Energy Ltd are among the other gainers in the BSE's 'B' group today, 10 July 2018.
Sorrell beats WPP in race to win Dutch agency MediaMonks
LONDON (Reuters) - Martin Sorrell has beaten WPP in the race to buy the highly coveted Dutch agency MediaMonks, in a move that is set to further strain tensions with the company he founded.
Asian FX hobbled by absence of catalysts, lingering trade worries
(Reuters) - Most Asian currencies struggled for traction on Tuesday as the backdrop of an U.S.-driven international trade war and the absence of positive catalysts kept investor sentiment largely in check.
Japanese refiner Idemitsu wins family backing for Showa Shell merger
TOKYO (Reuters) - Japanese oil refiners Idemitsu Kosan and Showa Shell Sekiyu said on Tuesday they had agreed to merge on April 1 next year, after Idemitsu's founding family dropped its long-standing opposition to the plan.
Jeera futures fall 0.86% on profit-booking
Jeera prices fell by 0.86 per cent to Rs 18,435 per quintal in futures trade today as speculators trimmed their positions to book profits at prevailing levels amid lower domestic and exports demand at the spot market. Furthermore, ample stocks position following higher supplies from the producing belts, too, fuelled the downtrend. At the National Commodity and Derivatives Exchange, jeera for delivery in the current month fell by Rs 160, or 0.86 per cent, to trade at Rs 18,435 per quintal, with an open interest of 1,677 lots. Similarly, the spice for delivery in August moved down by Rs 120, or 0.63 per cent, to Rs 18,650 per quintal in 5,199 lots. Analysts said, besides profit-booking by speculators at existing levels, fall in demand at the spot market against adequate stocks position, put pressure on jeera futures.
WebEngage roped in by OTA major Goibibo
After conducting intensive research, OTA player Goibibo has chosen WebEngage to power the brand's entire user and partner engagement strategy.The Mumbai based SaaS company is touted as one of the leading Marketing Automation platforms to come out of India, having over 40k businesses around the world under their belt. Esteemed brands such as Flipkart, Ebay, Avaya, Sendgrid, Pluralsight, Souq trust WebEngage with their user engagement.As India's leading online travel brand, millions of Goibibo customers frequent their platform to book flights, train tickets, hotels and outstation cab rides every month. They identified the need for an engagement platform to enhance the overall user experience and increase the number of bookings using Personalization and Contextual cross-channel Communication."We at Goibibo are strong believers in the power of creating an unparalleled user experience. Giving users a brand experience that helps them solve a problem and creates value for them is the end ...