Page 3451 - Business Finance
With 90% tax on petrol & diesel, bringing them under GST impractical: NITI Aayog Vice Chairman (IANS Interview) (Lead, correcting figures in para 8)
Petroleum is the taxation milch cow for the central and the state governments and it is unlikely to be brought under the Goods and Services Tax (GST) any time soon.
Allahabad Bank leads losers in 'A' group
Idea Cellular Ltd, Tata Motors-DVR, Tata Motors Ltd and Aegis Logistics Ltd are among the other losers in the BSE's 'A' group today, 25 June 2018.
P-note investments dip to over 9-year low at May-end
Investments through participatory notes into Indian capital markets plunged to over 9-year low of more than Rs 93,000 crore at May-end amid stringent norms put in place by Sebi to check the misuse of these instruments. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock markets without registering themselves directly. They however need to go through a proper due diligence process. According to Sebi data, the total value of P-note investments in Indian markets - equity, debt, and derivatives - slumped to a low of Rs 93,497 crore at May-end from Rs 1,00,245 crore in the end of April. Prior to that, the figure was Rs 1,06,403 crore. This is the lowest level since April 2009 when the cumulative value of such investments stood at Rs 72,314 crore. Of the total investments made last month, P-note holdings in equities were at Rs 70,442 crore and the remaining in debt and derivatives markets. Besides, the quantum of .
JVL Agro Industries Ltd leads losers in 'B' group
KRBL Ltd, Salona Cotspin Ltd, Hind Syntex Ltd and Eurotex Industries and Exports Ltd are among the other losers in the BSE's 'B' group today, 25 June 2018.
Idea Cellular tumbles on likely delay in Vodafone merger
Idea Cellular fell 6.77% to Rs 56.45 at 14:30 IST on BSE on media reports that the company's merger with Vodafone India may not meet the expected 30 June 2018 deadline.
Volumes spurt at KRBL Ltd counter
KRBL Ltd notched up volume of 51.99 lakh shares by 14:14 IST on NSE, a 48.97 fold spurt over two-week average daily volume of 1.06 lakh shares
Gold rises on jewellers' buying, silver falls
Gold gained Rs 50 to close at Rs 31,650 per ten gram at the bullion market today on persistent buying by local jewellers despite a weak trend overseas. Silver however fell by Rs 100 to Rs 40,900 per kg on reduced offtake by industrial units and coin makers. Traders said continued buying by local jewellers to meet increased demand for jewellery at domestic spot markets mainly kept gold prices higher, but a weak trend overseas capped the rise. Globally, gold fell 0.20 per cent to USD 1,266.30 an ounce and silver slipped 0.55 per cent to USD 16.33 an ounce in Singapore on a strong US dollar amid prospects of higher interest rates. A depreciating rupee against the dollar making imports of gold costlier also supported the uptrend, they added. In the national capital, gold of 99.9 and 99.5 per cent purity advanced by Rs 50 each to Rs 31,650 and Rs 31,500 per ten gram, respectively. It had gained Rs 30 in the previous two days. Sovereign however remained unaltered at Rs 24,800 per piece of ..
Saudi ARAMCO and ADNOC sign MoU for participating in the Ratnagiri Refinery project in Maharashtra
The MoU was signed between Saudi Aramco President and CEO, Amin H. Nasser and H.E.Dr. Sultan Ahmed Al Jaber, UAE Minister of State & ADNOC Group CEO. The signing was witnessed by His Highness Sheikh Abdullah bin Zayed bin Sultan Al Nahyan, UAE Minister of Foreign Affairs and International Cooperation,who is on an official visit to India, and Shri Dharmendra Pradhan, Minister of Petroleum and Natural Gas & Skill Development & Entrepreneurship, Government of India.
Mustard oil softens on muted local demand
In restricted activity, mustard oil prices declined by Rs 50 per quintal at the wholesale oils and oilseeds market today on easing local demand. However, other edible and non-edible oils moved in a narrow range in limited deals and pegged at the last levels. Traders said, subdued demand from local parties against adequate stocks position led to the decline in mustard oil prices. In the national capital, mustard expeller (Dadri) oil shed by Rs 50 to Rs 7,600 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 expeller (Dadri) Rs 7,600, Mustard Pakki Ghani (per tin) Rs 1,265-1,310, Mustard Kachi Ghani (per tin) Rs 1,315-1,415, Sesame Mill delivery Rs 9,500, Soybean Refined Mill Delivery (Indore) Rs 7,600, Soybean Degum (Kandla) Rs 7,200, ...
ADNOC joins Saudi Aramco to take stake in $44 bn Ratanagiri refinery
Abu Dhabi National Oil Company (ADNOC) today signed an initial pact to take a stake in the planned USD 44-billion refinery in Maharashtra, joining Saudi Aramco which is looking at the project as a vehicle to enter India's entire energy "value chain" including fuel retailing. Aramco and ADNOC will together hold 50 per cent stake in the 60 million-tonne-a-year refinery and adjacent 18 million-tonne-petrochemical complex while the remaining half will be split between state-owned Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL). For both Saudi Arabia and UAE, "strategic business investment with the world's fastest growing oil consumer has reached an irresistible tipping point," said Amin H Nasser, CEO and President of Saudi Aramco. Aramco, which had at the time of signing the original agreement to a 50 per cent stake in the planned project in April stated that it will bring a partner at a later date, is looking at not just refining its oil in the ...
Global Markets: Trade worries hit world stocks, oil gives back gains
LONDON (Reuters) - World shares fell on Monday, dented by worries over a worsening trade dispute between the United States and other major economies, while oil prices gave up some of the gains made after major exporters agreed a modest production increase.
Board of Birla Capital & Financial Services approves change in directorate
At meeting held on 25 June 2018
Union Bank of India down for fifth straight session
The stock is quoting at Rs 83.35, down 2.8% on the day as on 13:19 IST on the NSE. Union Bank of India tumbled 41.51% in last one year as compared to a 13.5% rally in NIFTY and a 12.35% fall in the Nifty PSU Bank index.
D B Corp Ltd slips for fifth straight session
The stock is quoting at Rs 249.55, down 1.73% on the day as on 13:19 IST on the NSE. D B Corp Ltd in last one year as compared to a 13.5% in NIFTY and a 5.85% up 25.45% in the Nifty Media index.
H T Media Ltd eases for fifth straight session
The stock is quoting at Rs 75.75, down 0.2% on the day as on 13:22 IST on the NSE. H T Media Ltd in last one year as compared to a 13.5% in NIFTY and a 5.85% up 25.45% in the Nifty Media index.
German business morale falls in June
BERLIN (Reuters) - German business confidence deteriorated in June, a survey showed on Monday, suggesting the mood among company executives in Europe's biggest economy is darkening in light of the threat of a global trade war.
EU watchdog tells banks to speed up Brexit preparations
LONDON (Reuters) - Banks have failed to make enough progress on their Brexit preparations and should not expect "miracle" public intervention to help them, the European Union's banking watchdog said on Monday.
Global cues depress equity indices; auto stocks fall
Decline in international markets and rising global trade tensions subdued the key Indian equity indices on Monday afternoon.
Maize futures down as participants trim position
Maize futures traded lower by Rs 12 to Rs 1,150 per quintal today as traders reduced their holdings coupled with a weak trend at the physical markets. Marketmen said, cutting down of positions by participants and a weak trend at the spot markets on fall in demand from poultry feed makers against ample stocks, mainly led to the fall in maize prices at futures trade here. At the National Commodity and Derivatives Exchange, maize to be delivered in July edged down by Rs 12, or 1.03 per cent, to Rs 1,150 per quintal, in an open interest of 8,580 lots. Maize for delivery in August, too, fell by Rs 9, or 0.76 per cent, to Rs 1,170 per quintal with an open interest of 5,270 lots.
Ooh!Media buying Adshel as Australia billboard assets M&A heats up
(Reuters) - Australian advertiser Ooh!Media Ltd is scooping up bus stop advertising business Adshel for $424 million after outbidding rival suitor APN Outdoor which has itself received a takeover offer from French advertiser JCDecaux.