Page 3438 - Business Finance
Kolte Patil Developers to acquire balance stake in Kolte Patil Real Estate
From K2A Residential
Sensex gives up gains on late sell-off; F&O expiry weighs
The BSE Sensex ended flat in choppy trade today as investors stayed on the sidelines ahead of expiry of June series derivatives contracts on Thursday. Global cues were mixed amid escalating trade tensions between the US and other leading economies, including the EU, China and India. The 30-share benchmark, after rising over 145 points intra-day, surrendered most of the gains in the last 30 minutes of trade to end at 35,490.04, up just 19.69 points, or 0.06 per cent. In similar fashion, the 50-share NSE Nifty closed higher by 6.70 points, or 0.06 per cent at 10,769.15, after moving between 10,805.25 and 10,732.55. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 198.68 crore, while domestic institutional investors (DIIs) sold shares worth Rs 86.22 crore yesterday, as per provisional data released by the stock exchanges.
Trump blasts Harley plan to shift U.S. production to avoid EU tariffs
(Reuters) - U.S. President Donald Trump on Monday slammed Harley-Davidson Inc after the motorcycle maker said it would move production for European customers overseas to avoid retaliatory tariffs that could cost it up to $100 million per year.
Former Pak PM Shaukat Aziz calls for more unregulated economy
Former Pakistan prime minister Shaukat Aziz today favoured a more unregulated economy saying that an open market will help a country improve its connectivity. Connectivity is the key to success for any country and one of the best ways to improve this is to open up your markets, Aziz said while addressing a session at the third annual meeting of Asian Infrastructure Investment Bank (AIIB). The comments come amidst rising worries about liberal global trade after US President Donald Trump announced a slew of protective trade tariffs against major exporting nations including China, Europe and India, and counter measures by these nations on American goods. Calling for a multiple approach to develop the infrastructure sector, Aziz said when it comes to the power sector, a greater government assistance is required. The former PM of Pakistan also said that mobilisation of resources in the public sector is more time consuming than the private sector. Private providers of infra ...
ExxonMobil mulls 'multi-billion' dollar expansion at Singapore refinery
SINGAPORE (Reuters) - ExxonMobil said on Tuesday it plans to make a final investment decision in 2019 on what it called a "multi-billion dollar" project that would expand its clean fuel and lubricant output at its Singapore refinery.
Palmolein, mustard oils up on retailers' demand
Prices of Palmolein and mustard oils edged higher by Rs 50 per quintal at the wholesale oils and oilseeds market today on pick-up in demand. However, castor oil in the non-edible section, drifted down on reduced offtake by consuming industries. Traders attributed the rise in palmolein and mustard oil prices to upsurge in demand from retailers. In the national capital, palmolein (RBD) and palmolein (Kandla) oils were up by Rs 50 each to Rs 7,100 and Rs 7,150 per quintal, respectively. Mustard expeller (Dadri) oil also traded higher by a similar margin to Rs 7,650 per quintal. On the other hand, castor oil in the non-edible section, however, traded lower by Rs 200 to Rs 6,900-7,000 per quintal. Following are today's quotations (in Rs per quintal): Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800-1,000. Edible oils: Groundnut mill delivery (Gujarat) Rs 8,400, Groundnut Solvent Refined (per tin) Rs 1,720-1,820, Mustard ...
Hong Kong Market falls amid rising trade fears
Hong Kong's value of total exports of goods rose 15.9% in May over a year earlier to HK$351.4 billion, after a year-on-year increase of 8.1% in April, according to the Census and Statistics Department. Concurrently, the value of imports of goods grew 16.5% over a year earlier to HK$394.6 billion in May 2018, after a year-on-year increase of 11.1% in April. A visible trade deficit of HK$43.2 billion, equivalent to 11% of the value of imports of goods, was recorded in May. For the first five months of 2018 as a whole, the value of total exports of goods rose 10.7% over the same period in 2017. Concurrently, the value of imports of goods increased by 11.9%. A visible trade deficit of HK$219.8 billion, equivalent to 11.9% of the value of imports of goods, was recorded in the first five months of 2018.
Future Consumer Ltd leads losers in 'A' group
Aegis Logistics Ltd, IDBI Bank Ltd, Gati Ltd and Jindal Saw Ltd are among the other losers in the BSE's 'A' group today, 26 June 2018.
Global Markets: Europe claws higher after China enters bear territory
LONDON (Reuters) - Modest gains from Europe's main bourses relieved nervy investors on Tuesday, after the latest escalation in an increasingly global trade storm pummeled Wall Street and sent China into 'bear' market territory.
Belfrics Group resumes trading on Indian cryptocurrency exchange
Cryptocurrency exchange and blockchain development platform Belfrics Group on Tuesday announced that it will resume trading operations on its Indian exchange by introducing four new cryptocurrency coins.
Nagreeka Capital & Infrastructure Ltd leads losers in 'B' group
Sambhaav Media Ltd, 3P Land Holdings Ltd, Tree House Education & Accessories Ltd and JVL Agro Industries Ltd are among the other losers in the BSE's 'B' group today, 26 June 2018.
JMC Projects (India) spurts on winning orders
JMC Projects (India) rose 4.67% to Rs 549.50 at 14:28 IST on BSE after the company said it has secured new orders of Rs 1966 crore.
Volumes jump at Honeywell Automation India Ltd counter
Honeywell Automation India Ltd witnessed volume of 20571 shares by 14:14 IST on NSE, a 34.83 times surge over two-week average daily volume of 591 shares
CFOs believe GST had positive impact on overall business: Report
Its close to a year since the implementation of GST, and a significant percentage of the country's chief financial officers believe that it had a positive impact on the overall business climate, says a Deloitte survey. According to Deloitte India's annual CFO Survey, 77 per cent CFOs believe that GST has had a positive impact on the overall business. Moreover, 57 per cent of CFOs are now willing to take greater business risks, as the next couple of years are expected to be a period of consolidating gains from recent reforms. "Introduction of GST necessitated a relook at the existing business models by CFOs. It had far-reaching implications on business functions, where the impact was on taxation, finance, legal, IT systems and supply chain. Overall, GST's value proposition has been appreciated by CFOs," said Porus Doctor, Partner, Deloitte India. As per the survey, the GST impact reflected better on revenue and supply chain, and 58 per cent CFOs saw an improvement in ease of doing ...
Gold prices hit over six-month low amid U.S. rate hike prospects
BENGALURU (Reuters) - Gold prices fell to a more than six-month low on Tuesday, pressured by prospects of rising U.S. interest rates amid a strengthening economy.
Cement stocks in demand
Shares of four cement manufacturers rose by 3.43% to 1.82% at 13:45 IST on BSE on reports that the cement manufacturers in north and central India have raised prices by Rs 5-15 per bag.
BMW not considering moving production out of Britain over Brexit: executive
LONDON (Reuters) - BMW is not considering moving production out of Britain because of uncertainty connected to Brexit, the company's special representative in Britain said on Tuesday.
China Market falls 0.8% as trade war heats up
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Japan Nikkei edges higher on bargain hunting
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Fitch retains Airtel's ratings at BBB-, outlook stable
International rating agency Fitch today retained its ratings on Bharti Airtel at BBB- along with a stable outlook, citing the unlikelihood of a further drop in tariffs coupled with its rising non-telecom revenue streams. The agency has a BBB- ratings on Bharti's long-term foreign-currency issuer default rating (IDR) and senior unsecured rating along with a BBB- ratings on the bonds issued by its subsidiary Bharti Airtel International Netherlands. It said the rating reflects Bharti's diversified and integrated business profile, with operations spanning mobile, fixed-line, digital TV, telecom tower and enterprise sectors in the home market along with mobile operations in Sri Lanka and 14 African markets. "Bharti will increase its home market mobile revenue market share to 35-36 per cent, on completion of its acquisition of Tata Tele, despite high competitive intensity," Fitch said. The agency, however, was quick to add that "any further increase in competitive intensity ...