Page 3325 - Business Finance
Chinese stocks have best day in two years, yuan firms despite tariff blow
SHANGHAI (Reuters) - China's share market and the yuan bounced on Monday despite heightened trade tensions between Washington and Beijing after each imposed major tariffs on the other's goods last week and investors nervously watched for more policy action.
Guar gum futures decline on thin export demand
Guar gum prices fell by Rs 44 to Rs 8,415 per quintal in futures trade today on as investors liquidated bets in line with a weak physical market trend amid muted export demand. Market players said traders were cutting their exposures in view of subdued physical markets, coupled with weak export demand from oil drilling industries, which led to the fall in guar gum futures prices. At the National Commodity and Derivatives Exchange, guar gum delivery for the July contract eased by Rs 44, or 0.52 per cent, to Rs 8,415 per quintal with an open interest of 13,150 lots. Also, the delivery of the most active October contract dropped by Rs 31, or 0.35 per cent, to Rs 8,730 per quintal with an open interest of 50,235 lots.
TV18 Broadcast Ltd rose for a third straight session today
The stock is quoting at Rs 48.7, up 1.88% on the day as on 12:49 IST on the NSE. TV18 Broadcast Ltd is up 28.5% in last one year as compared to a 10.91% gain in NIFTY and a 1.1% gain in the Nifty Media index.
Emami Ltd is up for a third straight session in a row
The stock is quoting at Rs 545.55, up 2.41% on the day as on 12:49 IST on the NSE. Emami Ltd is up 3.78% in last one year as compared to a 10.91% spurt in NIFTY and a 7.13% spurt in the Nifty FMCG index.
Hindustan Petroleum Corporation Ltd gained for a third straight session today
The stock is quoting at Rs 272, up 1.47% on the day as on 12:49 IST on the NSE. Hindustan Petroleum Corporation Ltd is down 20.41% in last one year as compared to a 10.91% spurt in NIFTY and a 10.54% spurt in the Nifty Energy index.
NCLT dismisses petition of former Tata Sons Chairman Cyrus Mistry
MUMBAI (Reuters) - An Indian tribunal dismissed on Monday a petition by former Tata Sons Chairman Cyrus Mistry who had alleged oppression of minority shareholders and mismanagement, giving the $100 billion conglomerate an initial win in a drawn-out feud.
Coal India Ltd is up for a fifth straight session today
The stock is quoting at Rs 272, up 0.29% on the day as on 12:44 IST on the NSE. Coal India Ltd is up 5.1% in last one year as compared to a 10.94% jump in NIFTY and a 7.66% jump in the Nifty Metal.
Soybean futures rise on strong global cues
Soybean prices rose by Rs 35 to Rs 3,562 per quintal in futures trade today as participants raised holdings, guided by robust overseas cues. Market players attributed the uptick in soybean futures prices to firm global markets sentiments. Besides, the uptrend in the edible oils prices also helped to boost trading sentiments in soybean futures, they added. At the National Commodity and Derivatives Exchange counter, soybean delivery for this month contract moved up by Rs 35, or 0.99 per cent, to Rs 3,562 per quintal with an open interest of 62,790 lots. Similarly, soybean for delivery in October contract rose by Rs 31, or 0.89 per cent, to Rs 3,522 per quintal with an open interest of 34,590 lots.
Indian tribunal dismisses petition of former Tata Sons Chairman Mistry
MUMBAI (Reuters) - An Indian tribunal dismissed on Monday a petition by former Tata Sons Chairman Cyrus Mistry who had alleged oppression of minority shareholders and mismanagement, giving the $100 billion conglomerate an initial win in a drawn-out feud.
Asian cues push equity indices higher; Sensex gains over 200 points
Firm Asian cues lifted the key Indian equity indices on Monday, with the BSE Sensex rising over 200 points.
Coriander futures rise 1.20% on spot demand
Coriander prices were trading higher by 1.20 per cent at Rs 4,809 per quintal in futures trade today as participants built up positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing belts also weighed on coriander futures. At the National Commodity and Derivatives Exchange, coriander for this month's delivery rose by Rs 57, or 1.20 per cent, to Rs 4,809 per quintal, with an open interest of 10,830 lots. Similarly, the delivery for August contract was trading higher by Rs 42, or 0.87 per cent, to Rs 4,856 per quintal with an open interest of 26,900 lots. Market analysts attributed the rise in coriander futures to the rise in demand in the physical market against tight stocks on fall in supplies from producing regions.
Mustard seed futures gain on spot sentiments
Mustard seed prices looked up by Rs 26 to Rs 4,129 per quintal in futures trade today as traders enhanced exposures buoyed by robust physical market sentiments. Market players said, tracking positive spot markets sentiment, where prices were higher due to tight arrivals and gearing up in demand for oil mill, mainly gave upward movements to the mustard seed futures prices. At the National Commodity and Derivatives Exchange, mustard seed delivery for the most traded second contract August rose by Rs 26 or 0.63 per cent to Rs 4,129 per quintal, with an open interest of 1,11,310 lots. Likewise, the delivery of the first contract July advanced by Rs 19 or 0.47 per cent to Rs 4,075 per quintal, clocking an open interest of 44,450 lots.
Maize futures bounce 2.38% on brisk spot demand
Maize prices sharpened by 2.38 per cent to Rs 1,247 per quintal in futures trade today as traders raised bets in line with robust spot market sentiment. Market players said speculators were raising their holdings on the back of strong demand in the spot markets for poultry feed makers, which brought the rise in maize futures prices. At the National Commodity and Derivatives Exchange, maize delivery for the most active August contract improved by Rs 29, or 2.38 per cent, to Rs 1,247 per quintal with an open interest of 8,280 lots. Similarly, the delivery of the July contract rose by Rs 25, or 2.11 per cent, to Rs 1,211 per quintal with a business turnover of 7,160 open lots.
Castor seed futures spurt on upbeat physical cues
Castor seed prices spurted by Rs 84 to Rs 4,493 per quintal in futures trade today as investors accumulated exposures backed up by positive physical market sentiments. Market players mentioned the up movements in the castor seed futures prices to brisk demand from consuming industries amid tight supplies in the spot markets. At the National Commodity and Derivatives Exchange platform, castor seed delivery for the most traded second contract August shot up by Rs 84 or 1.91 per cent to Rs 4,493 per quintal, with an open interest of 1,17,630 lots. In a similar step, the delivery of the current contract July strengthened by Rs 77 or 1.76 per cent to Rs 4,440 per quintal, having an open interest of 43,330 lots.
Pharma shares gain
Fresh buying in index pivotals propelled the key benchmark indices near day's high in early afternoon trade. At 12:28 IST, the barometer index, the S&P BSE Sensex, was up 248.90 points or 0.7% at 35,906.76. The Nifty 50 index was up 70.35 points or 0.65% at 10,843. Shares of index heavyweight Reliance Industries advanced. Pharma shares gained. Upbeat Asian stocks boosted sentiment on the domestic bourses.
Railways to seek Rs 2,500 crore loan through IRFC for CCTV project
Unable to get further allocations from the Finance Ministry under the Nirbhaya Fund, Indian Railways is exploring the loan route to raise Rs 2,500 crore to install CCTVs at all stations and coaches to ensure state-of-the-art surveillance systems in the entire rail network across the country.
Cottonseed oil cake futures climb by 2.96%
Cottonseed oil cake prices firmed up by Rs 47 to Rs 1,636 per quintal in futures trade today as investors raised bets in tune with encouraging physical markets leads. Market players said frantic buying by animal feed makers amid pause of ready stocks in the spot markets drove up trend in cottonseed oil cake futures prices. At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for the immediate contract July hardened by Rs 47 or 2.96 per cent to Rs 1,636 per quintal, with an open interest of 37,440 lots. Most active delivery in August contract also bolstered by Rs 44.50, or 2.73 per cent, to Rs 1,672 per quintal with a business turnover of 1,26,830 lots.
Oil prices inch up in face of tight market
TOKYO (Reuters) - Oil prices rose on Monday as investors focused on tight market conditions after data late last week showed U.S. crude inventories fell to their lowest in more than three years.
I-T dept sells part of Cairn shares to recover retro tax
The income tax department has sold roughly 40 per cent of Cairn Energy plc's shareholding in Vedanta to recover a part of the Rs 10,247 crore retrospective tax it had raised against the British firm. While an international arbitration tribunal is to begin final hearing in Cairn's challenge to the tax imposed retrospectively, ?the I-T department realised USD 216 million from selling some of the firm's residual holding in Vedanta. "As previously announced, the Indian Income Tax Department (IITD) has continued to enforce its retrospective tax claim against Cairn whilst the treaty arbitration has been ongoing. "To date the IITD has seized dividends due to Cairn from its shareholding in Vedanta Limited (VL) totalling USD 155 million and it has offset a tax rebate of USD 234 million due to Cairn as a result of overpayment of capital gains tax on a separate matter," Cairn Energy said in a statement. The firm said it has now been notified by the IITD that it has sold part of its shareholding .
Assam Company India Ltd leads gainers in 'B' group
Banaras Beads Ltd, HOV Services Ltd, TCI Finance Ltd and Starlit Power Systems Ltd are among the other gainers in the BSE's 'B' group today, 09 July 2018.