Page 3466 - Business Finance
Global Markets: Asian shares hit six-month lows as tariffs take economic toll
TOKYO (Reuters) - Asian shares stumbled to their lowest in six months on Friday, hurt by signs U.S. trade battles with China and many other countries are starting to chip away at corporate profits, while oil prices were choppy before an OPEC meeting to discuss raising output.
Tata Power Company Ltd gains for a third straight session
The stock is quoting at Rs 75.8, up 1.68% on the day as on 12:49 IST on the NSE. Tata Power Company Ltd is down 6.99% in last one year as compared to a 12.31% jump in NIFTY and a 18.4% jump in the Nifty Energy index.
Equity indices trade flat amid weak global cues
The key Indian equity indices traded on a flat-to-positive note on Friday afternoon tracking broadly weak global markets.
Chinese media says U.S. has 'delusions' as impact of trade war spreads
SHANGHAI/BEIJING (Reuters) - U.S. protectionism is self-defeating and a "symptom of paranoid delusions" that must not distract China from its path to modernisation, Chinese state media said on Friday as Beijing kept up with its war of words with Washington over trade.
Hero FinCorp, FinTech stakeholders collaborate to launch Globally Applicable Guidelines
Hero FinCorp, part of the $10 billion Hero Group, has reaffirmed its commitment towards responsible business practices and financial inclusion by becoming a co-founding signatory to the globally applicable Guidelines for Investing in Responsible Digital Financial Inclusion.These guidelines comprise of 10 touch-points that industry veterans and stakeholders can use to evaluate opportunities, mitigate risks, and contribute to a more responsible and inclusive digital finance ecosystem. The guidelines include promotion of fair and transparent pricing, better disclosure of terms and conditions, preventing consumers from taking on excess debt, boosting financial literacy, accurately establishing customer identity, ensuring high levels of data privacy/ security standards, fostering an effective legal and regulatory framework, and enabling interoperability of DFS or Digital Financial Services."Digital is altering the way Financial Services are delivered and used, these guidelines would help ..
Coriander futures fall 0.73% on muted demand
Coriander prices fell 0.73 per cent to Rs 4,584 a quintal in futures market today as participants trimmed their holdings on the back of easing demand at the spot markets. Besides, increased supplies from major producing regions also fuelled the downtrend. At the National Commodity and Derivatives Exchange, coriander prices for delivery in July declined by Rs 34, or 0.73 per cent, to Rs 4,584 per quintal with an open interest of 31,740 lots. Similarly, rates for August was trading lower by Rs 24, or 0.51 per cent, to Rs 4,655 per quintal in 6,760 lots. Market analysts attributed the fall in coriander futures to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.
Sensex, Nifty claw back in positive zone
Key benchmark indices once regained positive zone amid volatility. At 12:21 IST, the barometer index, the S&P BSE Sensex, was up 16.76 points or 0.05% at 35,449.15. The Nifty 50 index was up 3.70 points or 0.03% at 10,744.80. Most FMCG stocks declined. Negative Asian stocks weighed on the domestic bourses.
Board of M K Exim (India) approves change in directorate
At meeting held on 20 June 2018
Most Asian currencies set for losing week, rupee gains
(Reuters) - Most Asian currencies trod water on Friday, and with the exception of the Indian rupee they were set to end the week lower, partly due to concerns over a brewing trade war and caution ahead an OPEC meeting later in the day.
Crude palm oil futures gain 0.35% on firm demand
Crude palm oil prices went up by 0.35 per cent to Rs 627.40 per 10 kg in futures trade today as speculators widened their positions amid firm demand at the spot markets. Further, positive cues from overseas markets supported the upmove. At the Multi Commodity Exchange, crude palm oil for July rose by Rs 2.20, or 0.35 per cent, to Rs 627.40 per 10 kg, in a business turnover of 25 lots. Similarly, the oil for delivery this month went up by Rs 2 or 0.31 per cent, to Rs 631.20 per 10 kg in 33 lots. Analysts said raising of positions by participants amid pick up in spot demand against tight stocks position on restricted supplies from overseas markets mainly kept crude palm oil prices higher at futures trade.
Vakrangee Ltd leads gainers in 'A' group
Godfrey Phillips India Ltd, Jet Airways (India) Ltd, Jubilant Foodworks Ltd and HeidelbergCement India Ltd are among the other gainers in the BSE's 'A' group today, 22 June 2018.
Mentha oil futures drop 2% on subdued demand
Mentha oil futures fell 1.81 per cent to Rs 1,160.20 per kg today as speculators trimmed positions, triggered by subdued demand from consuming industries at the spot markets. Besides, adequate stocks position on higher supplies from major producing belt of Chandausi in Uttar Pradesh fuelled the down trend. At the Multi Commodity Exchange, mentha oil for delivery in the current month declined by Rs 21.40, or 1.81 per cent, to Rs 1,160.20 per kg, in a business turnover of 162 lots. Likewise, the oil for delivery in July traded lower by Rs 18.20, or 1.52 per cent, at Rs 1,183 per kg, in 214 lots. Analysts said, off-loading of positions by participants owing to slackened demand from consuming industries at the spot market against sufficient stocks position on increased supplies from Chandausi in Uttar Pradesh led to the decline in mentha oil prices in futures trade.
Economy makes it merry in March; expenditure shoots up in closing month of fiscal year: ASSOCHAM
Be it the RTGS, paper clearing, retail electronic clearing or NEFT, most of these indicators on the RBI's governed payment systems showed that expenditure transactions peaked in March 2018 as compared to February or April, both in terms of volume as also value.
Realty stocks decline
Stocks traded with small losses in mid-morning trade after alternately swinging between positive and negative zone. At 11:25 IST, the barometer index, the S&P BSE Sensex, was down 31.34 points or 0.09% at 35,401.05. The Nifty 50 index was down 10.75 points or 0.1% at 10,730.35. Shares of index heavyweight Reliance Industries dropped. Shares of another index heavyweight ITC gained. Realty stocks declined. Negative Asian stocks weighed on the domestic bourses.
Hotel Leela Venture defaults interest payment on NCDs
The company has defaulted in payment of quarterly interest of Rs. 2.12 crore which was due on 19 June, 2018.
Aluminium futures slide 0.30% on weak spot cues
Aluminium prices softened by 0.30 per cent to Rs 148.80 per kg in futures market today as speculators reduced exposure, taking negative cues from the spot market on muted demand. At the Multi Commodity Exchange, aluminium for delivery in June eased by 45 paise, or 0.30 per cent to Rs 148.80 per kg in business turnover of 119 lots. Similarly, the metal for delivery in July shed 35 paise, or 0.23 per cent to Rs 149 per kg in 8 lots. Analysts said off-loading of positions by traders on the back of easing demand from consuming industries in the physical market weighed on aluminium prices in futures trade.
Most set for losing week, Indian rupee gains
(Reuters) - Most Asian currencies trod water on Friday, and with the exception of the Indian rupee they were set to end the week lower, partly due to concerns over a brewing trade war and caution ahead an OPEC meeting later in the day.
Tepid demand drags down lead futures by 0.46%
Lead prices fell by 0.46 per cent to Rs 161.15 per kg in futures market today as speculators trimmed positions amid sluggish demand at spot markets. In futures trading at the Multi Commodity Exchange, lead for delivery in June declined by 75 paise, or 0.46 per cent to Rs 161.15 per kg in business turnover of 247 lots. In a similar fashion, the metal for delivery in July was trading lower by a similar margin to Rs 162.20 per kg in 23 lots. Analysts said cutting down of positions by traders owing to slackened demand from battery makers in the physical market, mainly attributed the fall in lead prices at futures trade.
Volumes spurt at Kalpataru Power Transmission Ltd counter
Kalpataru Power Transmission Ltd notched up volume of 3.36 lakh shares by 10:47 IST on BSE, a 13.3 fold spurt over two-week average daily volume of 25239 shares
Zinc futures down 0.75% on low demand
Zinc prices moved down by 0.75 per cent to Rs 199.60 per kg in futures trading today as speculators cut their bets, taking negative cues from the spot market on subdued demand. At the Multi Commodity Exchange, zinc for delivery in June fell by Rs 1.50, or 0.75 per cent to Rs 199.60 per kg in business turnover of 92 lots. Similarly, the metal for delivery in June was trading lower by Rs 1.35, or 0.67 per cent to Rs 200.25 per kg in 826 lots. Analysts said cutting down of positions by participants following a fall in demand from consuming industries in the physical market mainly led to decline in zinc prices at futures trade.