Page 3365 - Business Finance
Higher oil prices risk to growth: Moody's
Higher crude price is a key risk to India's growth, but subsidy reform in petrol and diesel has diminished the risk to sovereign credit profile, Moody's Investors Service said today. As per market polls of 175 investors conducted by Moody's and its affiliate ICRA on 175 last month in Singapore and Mumbai, investors identified higher oil prices as a key risk to growth and said that there are risks to achieving 3.3 per cent fiscal deficit. The investors also said that the government's PSB recapitalisation package is not sufficient, given the banks have not been able to raise capital as planned. In its report Moody's said: "Similarly to the views of the poll respondents, we also consider higher oil prices to be a risk to growth, but risks to sovereign credit dynamics from oil has diminished in recent years following subsidy reforms to petroleum and diesel fuel; only liquefied petroleum gas and kerosene oil remain subsidised". The rating agency said it does not expect oil prices to remain
Volumes spurt at Shriram Transport Finance Company Ltd counter
Shriram Transport Finance Company Ltd notched up volume of 3.24 lakh shares by 10:47 IST on BSE, a 10.27 fold spurt over two-week average daily volume of 31517 shares
Market breadth turns negative
Key indices reversed early trend and hit fresh intraday low in morning trade due to weak Asian cues. At 10:20 IST, the barometer index, the S&P BSE Sensex, was down 50.60 points or 0.14% at 35,328. The Nifty 50 index was down 16.85 points or 0.16% at 10,683.05.
India services activity in June expands at fastest pace in a year - PMI
BENGALURU (Reuters) - Activity in India's service industry rebounded in June from a mild contraction the prior month, a private survey showed, expanding at its quickest pace in a year on the back of a surge in new business orders.
India services activity in June expands at fastest pace in a year -PMI
BENGALURU (Reuters) - Activity in India's service industry rebounded in June from a mild contraction the prior month, a private survey showed, expanding at its quickest pace in a year on the back of a surge in new business orders.
Petrobras suspends major asset sales after justice's decision
SAO PAULO (Reuters) - State-run Brazilian oil company Petroleo Brasileiro SA (Petrobras) said on Tuesday it was suspending major asset sales after a Supreme Court justice ruled that Congress must approval any privatizations.
Samsung's second-quarter profit seen flagging as smartphone innovation dries up
SEOUL (Reuters) - Samsung Electronics Co Ltd is expected to post its smallest profit growth in more than a year in the second quarter, as lacklustre sales of its premium Galaxy smartphones overshadow its highly profitable chip business.
Exclusive: Japan's Inpex delays production from giant Australia gas project
TOKYO (Reuters) - Japan's Inpex Corp has delayed gas production from its giant Ichthys field off the coast of Australia just weeks after giving assurances that output would start imminently.
Samsung's second quarter profit seen flagging as smartphone innovation dries up
SEOUL (Reuters) - Samsung Electronics Co Ltd is expected to post its smallest profit growth in more than a year in the second quarter, as lacklustre sales of its premium Galaxy smartphones overshadow its highly profitable chip business.
Dena Bank to float 'Request of Quotation' for sale of non-core assets
1. NSDL E-Governance Infrastructure 6,25,000 equity shares of face value Rs.10/- each, which is 1.563% of the total paid up equity share capital of the company.
Outcome of board meeting Kwality
Held on 03 July 2018
ISGEC Heavy advances after emerging as lowest bidder
ISGEC Heavy Engineering advanced 3.76% to Rs 5,354.80 at 10:05 IST on BSE after the company announced that it has emerged as lowest bidder for thermal power project.
Gold prices rise to one-week high as softer U.S. dollar supports buying
BENGALURU (Reuters) - Gold prices rose to a one-week high early on Wednesday, rebounding from a seven-month low touched in the previous session, as the dollar softened, stoking some demand for the yellow metal.
China Stocks lower ahead of US tariff on Chinese goods
The uncertainty over trade policy was still hanging over markets. Planned tariffs on up to $34 billion on Chinese products are set to go into effect on Friday. The Trump administration was seen as keeping the U.S.-China tensions alive after late Monday saying it seeks to block China Mobile from operating in the U.S. market. The White House cited national security interests as the reason for refusing China Mobile access to the U.S.
Sensex, Nifty turn choppy on weak global cues
The BSE Sensex turned negative after opening 59 points higher in the early trading session today on sustained capital outflows amid weak global cues following rising concerns of a global trade war. The 30-share index was trading lower by 54.01 points, or 0.15 per cent, at 35,324.59. The gauge had gained 114.19 points in the previous session. Investor sentiment turned weak after most Asian stocks declined as trade jitters continued to simmer ahead of the July 6 deadline when US tariffs are due to take effect. The deadline is set to see the imposition of 25 per cent tariff on USD 34 billion worth of Chinese goods. China has also announced that it will retaliate against those measures, brokers said. Vedanta, ONGC, Tata Motors, Adani Ports, SBI, Yes Bank, Tata Steel, TCS, Bharti Airtel, Hero MotoCorp, Infosys, Asian Paints, ITC, L&T, ICICI Bank, Wipro and Coal India were among the top index losers, shedding up to 1.91 per cent. On the other hand, Power Grid, Sun Pharma, HDFC Ltd, RIL,
Oil prices edge up as U.S. supply tightens, Iran sanctions loom
SINGAPORE (Reuters) - Oil prices edged up on Wednesday following a report of tightening U.S. fuel inventories amid an outage at Syncrude Canada oil sands facility in Alberta, which usually supplies the United States.
GE Power India gains after winning order
GE Power India rose 1.88% to Rs 776 at 09:48 IST on BSE after the company announced winning an order worth Rs 468 crore for twin boiler equipment from Bhel.
Australia Market falls on material, consumer stocks
The uncertainty over trade policy was still hanging over markets. Many investors fear Washington will go ahead with its plan to impose tariffs on $34 billion worth of Chinese goods on July 6, which Beijing has vowed to match with tariffs on U.S. products, raising the risk of a full-blown trade war. The Trump administration was seen as keeping the U.S.-China tensions alive after late Monday saying it seeks to block China Mobile from operating in the U.S. market. The White House cited national security interests as the reason for refusing China Mobile access to the U.S.
Japan Stocks fall on weak offshore lead, strong yen
CURRENCY NEWS: The Japanese yen has ticked higher against greenback on Wednesday amid trade tensions. Trade tensions remain at high levels, and although Japan has not been on the receiving end of U.S tariffs, a global trade war could be devastating for the Japanese economy, which is heavily dependent on its export sector. Investors are awaiting the release of the Federal Reserve's June meeting minutes on Thursday and Friday's US jobs data for validation of policymakers' forecasts for two more rate hikes this year.
Rupee gains 10 paise in opening trade
The rupee firmed up further by 10 paise to 68.47 against the US dollar at the Interbank Foreign Exchange in the opening trade today on increased selling of the US currency by exporters and banks amid weakness in the greenback against other currencies overseas. Besides, selling of the American currency by exporters and banks and a higher opening in the domestic equity market influenced the rupee uptrend, forex dealers said. Yesterday, the rupee had gained 23 paise to end at 68.57 on fresh dollar selling by exporters and corporates. Meanwhile, the benchmark BSE Sensex rose by 59.33 points, or 0.16 per cent, at 35,437.93 in the opening trade today.