Page 3464 - Business Finance
Fitch: US Rates, Policy Divergence, Keep Pressure on Emerging Markets
India forecast increased for FY2018-2019 slightly, to 7.4% following better-than-expected 1Q18 GDP
Symphony to acquire 95% stake in Australia based Climate Technologies
The acquisition will be executed at a valuation range of AS 40-44 million (Rs 201- 22I crore) depending on the achievement of FY18F EBITDA (June ended). Further, the valuation is subject to change based on customary closing conditions. The Company plans to finance the acquisition through a judicious mix of debt and internal cash accruals.
Venezuela says 'a challenge' to recover lost crude output by end 2018
VIENNA (Reuters) - Venezuela has the ability to boost crude output by 1 million barrels per day (bpd) by end of the year in its bid to recover lost production, but the oil minister also said on Friday this goal would be "a challenge" for state oil firm PDVSA.
Venezuela says oil output recovery by end of 2018 will be 'a challenge'
VIENNA (Reuters) - Venezuela has the ability to boost crude output by 1 million barrels per day (bpd) by end of the year in its bid to recover lost production, although the oil minister also said on Friday this goal would be "a challenge" for state oil firm PDVSA.
Sensex rises, posting fifth straight winning week
(Reuters) - Indian shares closed higher on Friday, marking their fifth straight winning week, led by gains in financials such as Housing Development Finance Corp Ltd.
Skoda to take driver's seat in VW group's journey in India
German automobile major Volkswagen group today announced a major rejig in plans for the Indian operations giving group firm Skoda the responsibility for the market here. Under its 'India 2.0' project, all models designed and produced locally in the future will be based on Volkswagen Group's MQB platform and Skoda Auto will launch a volume segment model based on sub-compact MQB A0 platform by 2020, Skoda Auto said in a statement. Further, the project will be headed by Skoda Auto India Managing Director Gurpratap Boparai, it added. "Volkswagen Group has tasked us with this responsibility, thereby highlighting the level of trust that Volkswagen Group's management places in the expertise of the Skoda team, Skoda CEO Bernhard Maier said. About 18 months ago, Skoda Auto was tasked with developing a sustainable model campaign for both Skoda and Volkswagen brands in the Indian volume segments. "Preparations for the India-based development and production of the new, technologically pioneering .
Spices rule steady in weak trade
Spices ruled steady, in an otherwise listless spices market, today in the absence of any worthwhile buying activity from stockists and retailers amid ample stock positions. Following are today's closing rates (in Rs) with previous rates in brackets: Black pepper rd (per kg) 365/425 (365/425), ginger unbleached (per kg) 165 (165), copra office Alappuzha (per quintal) 12,300 (12,300), copra office Kozhikode (per quintal) 12,100 (12,100), copra Rajapur Mumbai (per quintal) 20,700 (20,700), copra edible Mumbai (per quintal) 15,700 (15,700).
Gala Global Products announces change in directorate
with effect from 21 June 2018
Board of Federal Bank approves raising of funds by issue of debt securities
At meeting held on 22 June 2018
Market provisionally settles with modest gains
Key benchmark indices logged modest gains after a volatile session of trade. The barometer index, the S&P BSE Sensex, gained 257.21 points or 0.73% at 35,689.60, as per the provisional closing data. The Nifty 50 index gained 80.75 points or 0.75% at 10,821.85, as per the provisional closing data. Index heavyweights HDFC, HDFC Bank and ITC gained. Index heavyweight Reliance Industries dropped.
Euro zone second-quarter growth likely decent but trade concerns rising
BENGALURU (Reuters) - Euro zone economic growth likely put in a decent performance in the second quarter with private businesses growing faster than expected in June, but trade worries knocked manufacturing growth to the weakest in 18 months, a private survey showed.
Sensex soars 257 pts in see-saw trade
The Sensex rebounded over 257 points to close at 35,689.60 while the NSE Nifty went past the 10,800-mark in volatile trade today, with institutional investors lending crucial support. Sentiment was buoyed after data showed that foreign portfolio investors (FPIs), who had been net sellers for the past several sessions, were back to buying mode on the domestic bourses yesterday. FPIs bought shares worth a net Rs 1,126.75 crore, while domestic institutional investors (DIIs) picked up equities to the tune of Rs 663.57 crore yesterday, provisional data showed. The 30-share Sensex, after a negative opening, slipped further to the day's low of 35,344.49, but staged a strong comeback in the latter part of the session. It finally finished 257.21 points, or 0.73 per cent higher at 35,689.60. The NSE Nifty, after shuttling between 10,710.45 and 10,837, ended at 10,821.85, up 80.75 points, or 0.75 per cent. Both the Sensex and Nifty posted fifth straight weekly gains, rising 67.46 points, or 0.19
No unusual deposits in Ahmedabad DCCB during demonetisation: Nabard
Amid reports of high number of demonetised currency being deposited in Ahmedabad DCCB, regulator Nabard today said the deposits were in line with size of the bank and all KYC norms were adhered to. Nabard saw nothing unusual in the scrapped Rs 500 and Rs 1,000 notes (worth Rs 746 crore) deposited or exchanged during November 10-14, 2016, and said that only 1.6 lakh out of 17 lakh account holders deposited the amount at an average of Rs 46,795. The clarification by National Bank for Agriculture and Rural Development (Nabard) came after reports suggested that deposits were unusually high in Ahmedabad District Central Cooperative Bank (DCCB), where BJP president Amit Shah is a director. Of the total 17 lakh accounts with the Ahmedabad DCCB, deposits or exchanges were made only by 1.60 lakh customers, a miniscule 9.37 per cent of the total deposit accounts, Nabard said in a statement . Of these, less than Rs 2.5 lakh were deposited in 98.94 per cent of the accounts in which deposits or ...
Abhay V. Udeshi appointed as International Castor Oil Association President
Abhay V. Udeshi Director at Jayant Agro Group, manufacturer of castor oil has been selected by International Castor Oil Association (ICOA) for the position of its President. He will be succeeding Marjorie Klayman. The announcement was made in the recently held Annual General Meet in Stockholm, Sweden.On the occasion Abhay V. Udeshi, Director Jayant Agro commented, "I am honored to be appointed as the current President of the association. I look forward to adding value and foster practices best suited for the overall growth and development of the association."Abhay will facilitate greater focus on ICOA's vision through his expertise gained from decades of experience within the industry. In his current role he will outline strategies best suited for the global presence for ICOA. He will use his background and leadership to further enhance and enlarge the activities for the association.The ICOA is an organization whose members are involved in growing, processing, trading, marketing ...
Gur prices flat in thin trade
Steady conditions prevailed at the wholesale market in the national capital today with prices moving in a narrow range in limited deals and pegged at the last levels. A similar trend also emerged at Muzaffarnagar and Muradnagar gur markets. Marketmen said, adequate stocks position against restricted buying activity kept gur prices steady. Following are today's rates (in Rs per quintal): Gur chakku Rs 3,300-3,400, pedi Rs 3,300-3,400, dhayya Rs 3,500-3,600 and shakkar Rs 3,500-3,600. Muzaffarnagar: Rasket Rs 2,200-2,250, chakku Rs 2,850-3,100, khurpa NA and Ladoo NA. Muradnagar: Pedi Rs 3,000-3,050 and dhayya NA.
KEF Infrastructure announces merger with Katerra
Infrastructure manufacturing company KEF Infrastructure today announced its strategic merger with US-based technology firm Katerra. The partnership will jointly expand their geographic reach, manufacturing capacity, and market expertise, a statement issued by KEF here said. "Both companies employ a vertically integrated model, offering end-to-end building services enhanced by offsite manufacturing and enterprise technology. The partnership will now help build KEF Katerra's in-house execution team which will reduce the on-site challenges on a project," it said. The merged company already has more than USD 3.7 billion in bookings at this time across North America and India. Katerra is a pioneer in multi-family housing design, build and delivery. "There is a tremendous potential for replicating their model to other regions of India, which will be key geographies for the KEF Katerra expansion. In addition to addressing housing needs, KEF Katerra will be actively engaged in .
Sugar extends losses on higher supply
Sugar prices drifted lower in the wholesale sugar market in the national capital today on fall in demand from bulk consumers and stockists against ample stocks position on increased arrivals from mills. Marketmen said, ample stocks on increased supplies from mills against reduced offtake by stockists and bulk consumers mainly kept the sweetener prices lower. Sugar ready M-30 and S-30 slipped to Rs 3,450-3,560 and Rs 3,440-3,550 from previous levels of Rs 3,450-3,590 and Rs 3,440-3,590 per quintal, respectively. Mill delivery M-30 and S-30 followed suit and quoted lower at Rs 3,150-3,340 and Rs 3,140-3,330 instead of Rs 3,170-3,340 and Rs 3,160-3,330 per quintal, respectively. In the millgate section, Mawana, Kinnoni and Asmoli also enquired lower at Rs 3,200, Rs 3,240 and Rs 3,290 as compared to previous close of Rs 3,260, Rs 3,425 and Rs 3,390 per quintal, respectively. Dorala, Budhana, Thanabhavan and Dhanora eased to Rs 3,200, Rs 3,230, Rs 3,225 and Rs 3,300 against last levels of .
Chinese media says US has 'delusions' as impact of trade war spreads
BEIJING/SHANGHAI (Reuters) - U.S. protectionism is self-defeating and a "symptom of paranoid delusions" that must not distract China from its path to modernisation, Chinese media said on Friday as Beijing kept up with its war of words with Washington while markets wilted.
'HSCC, EPIL in advanced stages for merger with similarly placed CPSEs'
Consultancy firms HSCC and EPIL are likely to be the first set of state-owned firms which will be merged with their peers in the current fiscal. The government last October invited bids from similarly placed central public sector enterprises (CPSEs) for buying out entire 100 per cent stake in them, along with management control. EPIL and HSCC are in advanced stages as bids have come in from respective sectoral CPSEs. The Alternate mechanism, led by finance minister, will meet to decide the reserve price, an official told PTI. The official said once the reserve price is fixed, the bids from prospective buyers would be opened and the one which would have bid above the reserve price would be eligible to buyout the PSU on offer. In the Budget for 2017-18, the then Finance Minister Arun Jaitley had announced the possibility of merger of PSUs to create large state-owned firms. Consequently, in January this year, the government entered into an agreement with ONGC for strategic sale of its .
Gold recovers on global cues, jeweller buying
Gold prices edged higher by Rs 15 to Rs 31,585 per 10 grams at the bullion market today, snapping its two day slide following a firm trend overseas coupled with pick-up in buying by the local jewellers. On the other hand, silver ready slumped by Rs 250 to Rs 40,750 per kg, below the Rs 41,000-mark, due to reduced offtake by industrial units and coin makers. Traders attributed the recovery in gold prices to a firm trend overseas where the precious metals traded higher, after hitting a six-month trough in the previous session, as the dollar pulled back from a 11-month peak on profit-booking. Globally, gold rose by 0.09 per cent to USD 1,268 an ounce in Singapore. In addition, increased buying by local jewellers at domestic spot market also supported the uptrend, they said. In the national capital, gold of 99.9 per cent and 99.5 per cent purity inched up by Rs 15 each to Rs 31,585 and Rs 31,435 per 10 grams, respectively. It had lost Rs 330 in the last two days. Sovereign gold, however, .