Page 3326 - Business Finance
Kirloskar Pneumatic rises on stock split plan
Kirloskar Pneumatic Company rose 3.14% to Rs 952.10 at 12:02 IST on BSE after the company said its board will meet on 24 July 2018 to consider sub-division of equity shares.
German exports rise more than expected in May
BERLIN (Reuters) - German exports rose by more than imports in May, widening the trade surplus, data showed on Monday, in a further sign that Europe's biggest economy remains in robust form despite trade tensions the United States.
Cairn says Indian tax office sells $216 million of Vedanta shares
(Reuters) - Cairn Energy said on Monday it would write down the value of its investment in Vedanta Ltd after Indian tax authorities sold $216 million worth of its shares in the Indian mining company.
Sensex, Nifty rise; Reliance Industries, ICICI Bank lead
(Reuters) - Indian shares rose on Monday, tracking gains in Asian peers after favourable U.S. jobs data boosted risk appetite, with heavyweights Reliance Industries Ltd and ICICI Bank Ltd driving the indexes higher.
Vegoils: Palm oil gains; set to snap losing streak on overnight soyoil
KUALA LUMPUR (Reuters) - Malaysian palm oil futures rose on Monday, and were in line to snap four sessions of losses, tracking overnight gains in U.S. soyoil.
Xiaomi's weak debut portends trouble for imminent Hong Kong tech listings
HONG KONG (Reuters) - Xiaomi Corp's shares fell as much as 6 percent in their Hong Kong debut on concerns over the Chinese smartphone maker's valuation, in an ominous sign for its technology sector peers who have lined up listings in the city.
NCLT upholds Tata Sons' 2016 move sacking Cyrus Mistry as Chairman
The National Company Law Tribunal (NCLT) on Monday upheld the October 24, 2016 decision of the Tata Sons Board of Directors dismissing its then Chairman Cyrus Mistry, a company official said here.
Indo Count Industries Ltd leads gainers in 'A' group
Time Technoplast Ltd, Jai Corp Ltd, Gujarat Pipavav Port Ltd and D B Corp Ltd are among the other gainers in the BSE's 'A' group today, 09 July 2018.
Shares of Tata group cos see mixed trends after NCLT ruling
Shares of various Tata group companies witnessed mixed trends today after the National Company Law Tribunal (NCLT) dismissed pleas of Cyrus Mistry against Tata Sons for removing him as chairman. IT bellwether Tata Consultancy Services (TCS) fell over one per cent to Rs 1,890.30, while Tata Motors rose nearly two per cent to Rs 275.85 on the BSE. In late morning trade, the scrips of Tata Steel and Tata Power climbed over one per cent to Rs 560.05 and Rs 72.80, respectively. Gaining more than one per cent, Tata Chemicals too was trading in the green at Rs 711.30. The shares of Tata Coffee went up over two per cent to Rs 121.00. In a legal battle running for nearly two years, the NCLT today dismissed the pleas of Cyrus Mistry challenging his removal as Chairman of Tata Sons. Mistry was removed as the Tata Sons board and majority of its members lost confidence in him, the tribunal said. In its ruling, the tribunal said it was not accepting Mistry's contentions that his removal was due to .
Global Markets: Asia rallies on U.S. jobs relief, pound pinched by politics
SYDNEY (Reuters) - Asian shares rallied on Monday as favourable U.S. jobs data whetted risk appetites, while sterling wobbled after the shock resignation of two UK ministers over Brexit threatened the survival of Prime Minister Theresa May.
Nissan shares tumble ahead of emissions briefing
TOKYO (Reuters) - Shares in Nissan Motor Co on Monday slumped about 5 percent to their lowest level in more than a year after the automaker said it would hold a briefing regarding its procedures to measure vehicle exhaust gas at its domestic plants.
Focus: The Foxconns of fast beauty propel South Korean cosmetics' success in China
SEOUL (Reuters) - At a factory two hours south of Seoul, women clad in plastic caps and masks put peach-coloured eye-shadow into cases, right next to a machine churning out a skin-colour face powder.
Global Markets: Asia rallies on US jobs relief, pound pinched by politics
SYDNEY (Reuters) - Asian shares rallied on Monday as favourable U.S. jobs data whetted risk appetites, while sterling wobbled after the shock resignation of two UK ministers over Brexit threatened the survival of Prime Minister Theresa May.
Barley futures surge over 1.56% on spot demand
Barley prices rallied by Rs 1.56 per cent to Rs 1,528 per quintal in futures trade today as participants created holdings amid firm physical market trend. Market players said pick up in demand for beer-makers and pause in supplies from growing regions in the spot markets encouraged traders to build up fresh positions, which pushed trading sentiments upward in the barley futures. At the National Commodity and Derivatives Exchange, barley delivery for August contract climbed up by Rs 23.50, or 1.56 per cent, to Rs 1,528 per quintal in a business turnover of 9,330 open lots. Similarly, the delivery of the immediate contract July jumped up by Rs 21.50, or 1.45 per cent, to Rs 1,500 per quintal with an open interest of 3,120 lots.
Crude palm oil futures gain 0.35%
Crude palm oil prices went up by 0.39 per cent to Rs 632 per 10 kg in futures trade today as speculators widened their positions amid firm demand at the spot market. Besides, a positive trend in overseas markets supported the upmove. However, some gains were trimmed in line with lower tariff value for July. The government had slashed the base import price of crude palm oil by USD 26 to USD 618 per tonne. At the Multi Commodity Exchange, crude palm oil for this month contract rose by Rs 2.20, or 0.35 per cent, to Rs 632 per 10 kg, in a business turnover of 109 lots. Similarly, the oil for delivery in August contract went up by Rs 1.80, or 0.29 per cent, to Rs 625.90 per 10 kg in 78 lots. Analysts said widening of positions by participants amid pick up in spot demand against tight stocks position on restricted supplies from overseas markets kept crude palm oil prices higher in futures trade.
Metal & mining stocks shine
Key benchmark indices were trading firm in mid-morning trade. At 11:19 IST, the barometer index, the S&P BSE Sensex, was up 191.84 points or 0.54% at 35,849.70. The Nifty 50 index was up 52.70 points or 0.49% at 10,825.35. Metal and mining stocks gained as copper prices rose in global commodity markets. Upbeat Asian stocks boosted sentiment on the domestic bourses.
Aluminium futures rise 0.87% as demand picks up
Aluminium prices were up by 0.87 per cent to Rs 145.35 per kg in futures trade today as speculators built up fresh positions, taking positive cues from the spot market on pick up in demand. At the Multi Commodity Exchange, aluminium for delivery in August rose by Rs 1.25, or 0.87 per cent, to Rs 145.35 per kg in business turnover of 21 lots. Likewise, the metal for delivery in July contracts edged up by Re 1, or 0.70 per cent, to Rs 144.85 per kg in 902 lots. Analysts said fresh positions created by participants after upsurge in demand from consuming industries in the physical market influenced aluminium prices in futures trade.
Wheat futures rise 0.91% on speculative buying
Wheat prices jumped up by 0.91 per cent to Rs 1,878 per quintal in futures market today as speculators built up fresh positions. At the National Commodity and Derivatives Exchange, wheat for delivery in July rose by Rs 17, or 0.91 per cent, to Rs 1,878 per quintal with an open interest of 3,470 lots. Similarly, the wheat for delivery in August contracts was trading higher by Rs 17, or 0.91 per cent, at Rs 1,895 per quintal in 5,760 lots. Analysts said fresh positions created by traders after the uptick in demand in the physical market and a pause in arrivals from producing belts influenced wheat prices in futures trade.
Nickel futures climb 1.57% on spot demand, global cues
Amid pick-up in demand at the domestic spot market and a firm trend overseas, nickel prices traded higher by 1.57 per cent to Rs 974 per kg in futures trade today as participants built up fresh positions. At the Multi Commodity Exchange, nickel for delivery in July shot up by Rs 15.10, or 1.57 per cent, to Rs 974 per kg in business turnover of 3,468 lots. On similar lines, the metal for delivery in May contracts was trading higher by Rs 13.90, or 1.44 per cent, at Rs 978 per kg in 58 lots. Analysts attributed the rise in nickel futures to a fresh positions built up by traders after an uptick in demand from alloy-makers at domestic spot market and a firm trend overseas.
Robust demand lifts refined soya oil futures by 0.54%
Refined soya oil prices climbed by 0.54 per cent to Rs 762.75 per 10 kg in futures trade today as speculators built up fresh positions amid upsurge in demand at the spot market. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August shot up by Rs 4.10, or 0.54 per cent, to Rs 762.75 per 10 kg with an open interest of 34,180 lots. Similarly, the oil for delivery in July contracts was trading higher by Rs 2.95, or 0.39 per cent, to Rs 758 per 10 kg in 30,640 lots. Analysts said fresh positions created by traders following pick up in demand in the spot market against restricted arrivals from producing belts, pushed up refined soya oil prices in futures trade.