Page 3453 - Business Finance
Market breadth turns negative from positive
Volatility continued as the key benchmark indices extended fall and hit intraday low in mid-morning trade. At 11:21 IST, the barometer index, the S&P BSE Sensex, was down 82.34 points or 0.23% at 35,607.26. The Nifty 50 index was down 26.75 points or 0.25% at 10,795.10. Auto stocks declined.
Meituan-Dianping files Hong Kong IPO, said to raise over $4 billion
HONG KONG/SHANGHAI (Reuters) - China's Meituan-Dianping, an online food delivery-to-ticketing services platform, filed for a Hong Kong IPO on Monday, an offering that aims to raise more than $4 billion, three people with knowledge of the plans said.
Muted demand drags down coriander futures by 1.11 pc
Coriander prices declined 1.11 per cent to Rs 4,537 per quintal in futures market today as speculators trimmed their exposure amid subdued demand at the spot market against sufficient stocks position. Increased supplies from major producing regions also weighed on prices. At the National Commodity and Derivatives Exchange, coriander for delivery in July contract fell Rs 51, or 1.11 per cent, to Rs 4,537 per quintal with an open interest of 31,410 lots. Similarly, the spice for delivery in far-month contract was trading lower by Rs 51, or 1.09 per cent, to Rs 4,605 per quintal in 7,180 lots. Market analysts attributed the fall in coriander futures to sluggish demand in the physical market against adequate stocks position on increased supplies from producing regions.
Aahaa Stores raises $2mn towards tech upgrade
Online office supplies platform Aahaa Stores announced fresh equity infusion of USD 2 million, led by global investment group, Calega.The company plans to utilise the fresh investments to upgrade their technology, expand business across new verticals and geographies, enrich infrastructure by inducting more independent service providers and mobilise superior talent.The Chennai-based startup helps businesses save on indirect purchases spend by managing their supply chain, bringing collective bargaining benefits and streamlining the vendor network.Before this round the company raised capital funds twice, worth one million dollars each, from a group of investors led by YourNest"We are well on course to achieve the first milestone of Rs. 100 million per month sales. Using these funds, we plan to expand the full range of curated assortment of products across all major brands in stationery, printed materials, housekeeping, electronics and it, food and beverage, packaging and company specific
Mentha oil edges higher on firm demand
Mentha oil prices rose 1.65 per cent to Rs 1,166.90 per kg in futures market today after participants raised their bets, taking positive cues from the spot market on pick up in demand from consuming industries. Restricted supplies from the major producing belts of Chandausi in Uttar Pradesh too supported the uptrend. At the Multi Commodity Exchange, mentha oil for delivery in the current month contract was higher by Rs 19, or 1.65 per cent, to Rs 1,166.90 per kg, clocking a business volume of 191 lots. The oil for July delivery was trading higher by Rs 14.20, or 1.22 per cent, at Rs 1,182 per kg, with a trading volume of just one lot. Marketmen said raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Chana futures slip on profit-booking
Chana prices moved down by 2.12 per cent to Rs 3,408 per quintal in futures trade today as speculators booked profits at prevailing levels amid easing demand at the spot market. At the National Commodity and Derivatives Exchange, chana for delivery in July contract fell by Rs 74, or 2.12 per cent, to Rs 3,408 per quintal with an open interest of 98,750 lots. Similarly, the commodity for delivery in August contract declined by Rs 71, or 2.01 per cent, to Rs 3,454 per quintal in 46,680 lots. Analysts said besides profit-booking by participants at existing level, decline in demand in the physical market against sufficient stocks position led to the fall in chana futures.
Board of Sumeet Industries recommends bonus issue of 1:4
At meeting held on 22 June 2018
Phoenix Mills firms up after acquiring property in Indore
The Phoenix Mills rose 1.25% to Rs 639.50 at 11:10 IST on BSE after the company announced that it has acquired an under-construction retail asset in Indore.
Silver futures weaken on overseas cues
Tracking a weak trend overseas, silver prices came down by 0.21 per cent to Rs 40,347 per kg in futures trade today as speculators cut down their bets. At the Multi Commodity Exchange, silver for delivery in September fell by Rs 85, or 0.21 per cent to Rs 40,347 per kg in a business turnover of 134 lots. Likewise, the white metal for delivery in July declined by Rs 60, or 0.15 per cent to Rs 39,736 per kg in 925 lots. Analysts said offloading of positions by participants in line with a weak trend in global markets, mainly led to decline in silver prices at futures trade. Globally, silver fell 0.55 per cent to USD 16.33 an ounce in Singapore.
Lead futures soften on weak spot cues
Lead prices shed 0.09 per cent to Rs 163.75 per kg in futures trading today as speculators cut down their positions, taking negative cues from spot market on easing demand. At the Multi Commodity Exchange, lead for delivery in June eased by 15 paise, or 0.09 per cent to Rs 163.75 per kg in a business turnover of 238 lots. Similarly, the metal for delivery in July contracts was trading lower by 10 paise, or 0.06 per cent to Rs 164.65 per kg in 39 lots. Analysts said offloading of positions by traders owing to slackened demand from battery makers in the physical market, mainly weighed on lead prices at futures trade.
Muted demand drags down zinc futures
Zinc prices drifted lower by 1.14 per cent to Rs 199 per kg in futures trading today as speculators reduced exposure, taking negative cues from the spot market on slump in demand. In futures trading at the Multi Commodity Exchange, zinc for delivery in July fell by Rs 2.30, or 1.14 per cent to Rs 199 per kg in a business turnover of 141 lots. Likewise, the metal for delivery in June contracts was trading lower by Rs 2.10, or 1.04 per cent to Rs 200.25 per kg in 579 lots. Analysts said trimming of positions by participants due to fall in demand from consuming industries in the physical market mainly led to the slide in zinc prices at futures trade.
Gold edges lower amid firm dollar; trade tensions limit downside
BENGALURU (Reuters) - Gold prices edged lower on Monday, pressured by a strong U.S. dollar amid prospects of higher interest rates, while global trade tensions kept the metal buoyed above a six-month low hit last week.
Outcome of board meeting of Tumus Electric Corporation
Held on 23 June 2018
HDFC Bank allots 8.58 lakh equity shares
Under ESOS
Volumes spurt at BASF India Ltd counter
BASF India Ltd registered volume of 1.46 lakh shares by 10:46 IST on BSE, a 494.07 fold spurt over two-week average daily volume of 296 shares
Refined soya oil futures slide 0.31 pc on profit-booking
Refined soya oil prices moved down by 0.31 per cent to Rs 746 per 10 kg in futures market today as speculators booked profits, driven by a fall in demand in the spot market against adequate stocks position. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July month declined by Rs 2.30, or 0.31 per cent to Rs 746 per 10 kg with an open interest of 53,010 lots. Similarly, the oil for delivery in far-month August contract was trading lower by Rs 1.80, or 0.24 per cent to Rs 749.60 per 10 kg in 15,260 lots. Analysts said besides profit-booking by participants, slump in demand in the physical market against sufficient stocks position mainly led to the decline in refined soya oil prices at futures trade.
Crude oil futures down 0.37 pc on weak Asian trend
Crude oil futures eased 0.37 per cent to Rs 4,591 per barrel today as speculators reduced their positions amid a weakening trend in Asian markets. At the Multi Commodity Exchange, crude oil for delivery in far-month August traded Rs 17 or 0.37 per cent lower at Rs 4,591 per barrel in 23 lots. Oil for July delivery also moved down by Rs 8, or 0.17 per cent, to Rs 4,664 per barrel in 748 lots. Oil prices fell in Asia today as traders factored in an expected output increase that was agreed by the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday, analysts said. Meanwhile, West Texas Intermediate (WTI) crude was down 20 cents, or 0.29 per cent, to USD 68.38, while Brent crude eased USD 1.33, or 1.76 per cent, to USD 74.22 a barrel on the New York Mercantile Exchange.
Oil stocks decline
Stocks turned volatile in morning trade as the key benchmark indices once again dipped in negative zone after briefly turning positive. At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 29.25 points or 0.08% at 35,660.35. The Nifty 50 index was down 10.45 points or 0.1% at 10,811.40. Oil stocks declined.
Symphony rises after acquiring Australia's Climate Technologies
Symphony rose 2.76% to Rs 1478.10 at 10:33 IST on BSE after the company said it signed an agreement to purchase effectively 95% equity stake in Australia's Climate Technologies.
India is the largest borrower from Asian Infrastructure Investment Bank
Unlike most other multilateral development banks set up by advanced economies, AIIB is the first major multilateral development bank where principal contributors are the borrowing members themselves. The third Annual Meeting of the bank focuses on infrastructure, with the theme of innovation and collaboration, said Shri Garg.