Page 347 - Business Finance
Rama Paper Mills extends plant shutdown for repair works
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India's Merchandise Exports Grow By 0.64% In April
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Asian markets mixed as trade hopes offset Huawei worries
Asian markets were mixed Thursday as investors weighed hopes for trade talks against Donald Trump's ban on US firms from using foreign telecoms equipment, which has been seen as a kick against China. Investors were jolted in the morning after the president issued an executive order, citing national security grounds, that effectively bars Chinese giant Huawei from the US market. It was also added to a blacklist restricting US sales to the firm, which will likely ramp up tensions with Beijing as the two economic titans engage in a drawn-out trade war that threatens global growth. The Trump administration has for months tried to persuade allies not to allow China a role in building next-generation 5G mobile networks, warning that doing so would result in restrictions on sharing of information with the United States. The announcement comes after the US last week hiked tariffs on USD 200 billion of Chinese goods, to which Beijing retaliated in kind, fanning fears their trade war - which ...
Most firms lack tech to deliver customer experiences
While delivering personalised customer experiences (CX) is top priority for businesses, most of them are still lagging behind in adoption of technologies that can help them achieve their targets, an Adobe study said on Thursday.
Crude oil futures rise 0.25% on global cues
Crude oil prices edged up 0.25 per cent to Rs 4,377 per barrel in futures trade Thursday as speculators widened their bets in tandem with firm trend overseas. On the Multi Commodity Exchange, crude for delivery in June contracts was up by Rs 11, or 0.25 per cent, to Rs 4,377 per barrel in a business turnover of 16,351 lots. Analysts said the rise in crude oil futures was largely due to raising of bets by participants at domestic markets. Globally, the prices continued its rising streak as fears of supply disruptions due to tensions in the Middle East allayed the effects of unexpected rise in US inventories, say reports. Meanwhile, West Texas Intermediate crude prices were trading up 0.47 per cent to USD 62.31, while Brent Crude was up 0.36 per cent at USD 72.03 a barrel at the New York Mercantile Exchange.
Jindal Stainless (Hisar) Ltd slips for fifth straight session
Jindal Stainless (Hisar) Ltd is quoting at Rs 75.05, down 1.83% on the day as on 13:24 IST on the NSE. The stock tumbled 5.25% in last one year as compared to a 4.63% rally in NIFTY and a 23.89% spurt in the Nifty Metal index.
Finance Comm discusses fiscal management with FinMin
Finance Commission held discussions with the finance ministry on fiscal and economic management as well as rationalisation of expenditure related to centrally sponsored schemes, an official statement said Thursday. During the meeting, which happened on Wednesday, the 15th Finance Commission observed that the GDP numbers suggest continued high growth over the medium term even though there have been fluctuations within the overall global trend. "On the expenditure trend, there were discussions with regard to rationalisation of the Centrally Sponsored Schemes in sync with the new life cycle, they being co-terminus with the finance commissions," the statement said. Centrally sponsored schemes are schemes that are implemented by state governments but are funded by the Centre with some portion of funding being borne by states. The Commission also noted that the revenue projections on direct taxes are healthy though on indirect taxes, there have been periodic fluctuations. "The Commission ..
Colgate-Palmolive (India) Ltd eases for fifth straight session
Colgate-Palmolive (India) Ltd is quoting at Rs 1114.4, down 0.54% on the day as on 13:24 IST on the NSE. The stock tumbled 5.25% in last one year as compared to a 4.63% rally in NIFTY and a 2.43% spurt in the Nifty FMCG index.
Bharat Petroleum Corporation Ltd in demand
Bharat Petroleum Corporation Ltd is quoting at Rs 363.55, up 1.11% on the day as on 12:54 IST on the NSE. The stock is down 6.93% in last one year as compared to a 4.63% jump in NIFTY and a 12.37% jump in the Nifty Energy index.
Negative market breadth
Key equity benchmarks hovered in positive zone in afternoon trade. At 13:15 IST, the barometer index, the S&P BSE Sensex, was up 14.03 points or 0.04% at 37,128.91. The Nifty 50 index was up 19.50 points or 0.17% at 11,176.50.
Gold futures slide 0.02 pc on low demand
Gold prices dipped by 0.02 per cent to Rs 32,251 per 10 gram in futures trade Thursday as speculators reduced exposure, driven by subdued demand at the spot market. On the Multi Commodity Exchange, gold for delivery in June contracts fell by Rs 8, or 0.02 per cent, to Rs 32,251 per 10 gram in a business turnover of 9,091 lots. Analysts said off-loading of positions by participants to book profits and a weak trend in the domestic markets, mainly influenced gold prices at futures trade here. Globally, however, the prices of the precious metal recovered marginally 0.11 per cent to USD 1,298.20 an ounce in New York.
Jammu and Kashmir Bank Ltd up for third straight session
Jammu and Kashmir Bank Ltd is quoting at Rs 55.75, up 2.58% on the day as on 12:54 IST on the NSE. The stock is up 7.42% in last one year as compared to a 4.63% jump in NIFTY and a 6.35% jump in the Nifty PSU Bank index.
Indian Oil Corporation Ltd rises for third consecutive session
Indian Oil Corporation Ltd is quoting at Rs 148, up 1.54% on the day as on 12:54 IST on the NSE. The stock is down 10.17% in last one year as compared to a 4.63% spurt in NIFTY and a 12.37% spurt in the Nifty Energy index.
Warren Buffett's Berkshire reveals $900 mn Amazon stake
Warren Buffett's Berkshire Hathaway had shares worth $904 million in e-commerce giant Amazon at the end of March 31, the media reported citing a regulatory filing.
HFCL posts 12 pc fall in Q4 net; record profit of Rs 232 cr in FY19
Telecom equipment and network development company Himachal Futuristic Communications Ltd (HFCL) Thursday reported a 12 per cent drop in its fourth-quarter net profit even as it ended the fiscal with highest ever order book of about two-and-half-times its current revenues. Net profit in January-March quarter came at Rs 57.51 crore, down from Rs 58.24 crore net profit in the same period of the previous financial year, the company said in a statement here. Turnover rose by over 16 per cent to Rs 1,094.68 crore. For the full 2018-19 fiscal year that ended March 31, 2019, HFCL reported an all-time high net profit of Rs 232 crore, up 35 per cent over the previous financial year. Revenue jumped by over 46 per cent to Rs 4,785 crore. The company closed FY19 with highest ever order book of Rs 11,350 crore, which translates into 2.5 times of 2018-19 fiscal revenues, the statement said. HFCL Managing Director Mahendra Nahata said: "The company has delivered another record performance on the back
NIIT Technologies Ltd soars 0.4%, up for fifth straight session
NIIT Technologies Ltd is quoting at Rs 1265, up 0.4% on the day as on 12:49 IST on the NSE. The stock is up 19.7% in last one year as compared to a 4.61% spurt in NIFTY and a 17.85% spurt in the Nifty IT.
Rama Steel Tubes Ltd leads gainers in 'B' group
Shiva Texyarn Ltd, PG Electroplast Ltd, Zenith Exports Ltd and Transwarranty Finance Ltd are among the other gainers in the BSE's 'B' group today, 16 May 2019.
Lupin shares tank 6 pc after observations from USFDA for Aurangabad plant
Shares of Lupin Limited dropped 6 per cent Thursday after the company received three observations from the US health regulator for its Aurangabad-based manufacturing facility. The scrip declined 6 per cent to Rs 736.10 on the BSE. On the NSE, shares tanked 5.84 per cent to Rs 736.40. The US Food and Drug Administration (USFDA) carried out the inspection at the plant from May 6 to May 15, Lupin said in a statement Wednesday. "The inspection at the Aurangabad facility closed with three observations. The company is confident of addressing them satisfactorily," it added. Lupin Wednesday posted consolidated profit after tax of Rs 296.37 crore for the fourth quarter of 2018-19 fiscal.
Global Recognition for Synergy Group
/ -- Bags the coveted Seatrade Award Recognised for 'Investment in People' Synergy Group, with over a decade of experience as a leading shipmanager, has been awarded the prestigious Seatrade Award in the 'Investment in People' category. The award recognises Synergy's significant contribution to the recruitment, training, retention and advancement of the industry's most valuable asset - its people. The award is a testimony to the Group's commitment to safety at sea, seafarer welfare and female empowerment in the maritime workforce. While thanking the judges for recognising training, development and encouragement of personnel as Synergy's core values, Captain Rajesh Unni, CEO & Founder, Synergy Group, said, "We are delighted to be recognised at such a prestigious platform. This is yet another pivotal milestone in Synergy's history. At Synergy, it is our constant endeavour to create benchmarks and constantly reinvent and to this end, our biggest investment are our people. We want .
InterGlobe Aviation shares tank nearly 8 pc
Shares of InterGlobe Aviation Limited dropped nearly 8 per cent Thursday amid reports of an alleged rift between the promoters of IndiGo. The scrip tumbled 7.55 per cent to Rs 1,487.10 on the BSE. On NSE, shares tanked 7.73 per cent to Rs 1,485.75. On the traded volume front, 1.77 lakh shares were traded on BSE and over 33 lakh shares on the NSE during the morning trade. According to media reports, the founders of the budget carrier Rahul Bhatia and Rakesh Gangwal locked horns over strategies and ambitions for the airline. Promoters hold about 75 per cent stake in InterGlobe Aviation as per March quarter shareholding pattern on the BSE.