Page 348 - Business Finance
Tata Chemicals, Tata Global Beverages zoom on biz merger announcement
Shares of Tata Chemicals zoomed nearly 9 per cent Thursday after the Tata Group announced the transfer of the branded food business from the company to Tata Global Beverages in an all-share deal. The scrip jumped 8.36 per cent to Rs 604 on the BSE, and 8.83 per cent to Rs 606 on the NSE. Shares of Tata Global Beverages also advanced 10.61 per cent to Rs 219.85 on the BSE. With an intent to put in place a consolidated platform for its consumer business and become a leader in the FMCG segment, Tata Group Wednesday announced the transfer of the branded food business from Tata Chemicals to Tata Global Beverages in an all-share deal that will create an over Rs 9,000-crore giant. Under the agreement, Tata Global Beverages (TBGL) will buy the business of selling edible salt, spices, and lentils and give shares in return to Tata Chemicals (TCL). TGBL will rename itself as Tata Consumer Products after the deal. A statement issued by the group said that the combination of the two ...
Tata Global Beverages Ltd leads gainers in 'A' group
Indiabulls Real Estate Ltd, Tata Chemicals Ltd, Phoenix Mills Ltd and Jet Airways (India) Ltd are among the other gainers in the BSE's 'A' group today, 16 May 2019.
Kesoram Inds gains after turnaround Q4 outcome
Kesoram Industries rose 1.62% to Rs 66.05 at 11:32 IST on BSE after the company reported net profit of Rs 20.75 crore in Q4 March 2019 as compared with net loss of Rs 158.17 crore in Q4 March 2018.
TVS Motor Company extends service support for cyclone Fani affected customers in Orissa
Powered by Capital Market - Live News
Trump to provide rare look of finances in disclosure report
President Donald Trump's latest financial disclosure report is expected to provide a rare glimpse into whether his presidency has helped or hurt his hotels, golf resorts and other parts of his business empire. The report, which is filed with the Office of Government Ethics and set for release Thursday, will be closely studied for changes in revenue at key properties in 2018, including his Mar-a-Lago resort in Palm Beach, Florida, his Washington, D.C., hotel and his Doral golf resort in Miami. Experts say the Trump business has taken a hit from the president's divisive policies and rhetoric, though the Trump Organization says much of the business is fine. Trump's biggest revenue generator among his golf properties, Doral, took in USD 75 million in revenue in 2017. By comparison, Trump's "Summer White House," his golf club in Bedminster, New Jersey, generated USD 15 million. Mar-a-Lago took in USD 25 million in 2017 and his Washington hotel generated USD 40 million. In total, the ...
Benchmarks turn range bound
The Sensex and the Nifty continued trading in a narrow range near the flat line in mid-morning trade. At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 19.83 points or 0.05% at 37,134.71. The Nifty 50 index was up 14.35 points or 0.13% at 11,171.35.
Essar Steel allege ArcelorMittal of filing false affidavit
Lawyer Haren Raval counsel for Essar Steel Asia Holdings Ltd has alleged that ArcelorMittal India had knowingly filed a false affidavit pertaining to NPAs on October 18, 2018.
Volumes soar at Torrent Power Ltd counter
Torrent Power Ltd clocked volume of 92217 shares by 10:49 IST on BSE, a 4.13 times surge over two-week average daily volume of 22314 shares
Jet's lenders to get bids verified, open to joint bid
Grounded Jet Airways' lenders plan to get all bids legally verified before beginning negotiations with interested parties.
Negative market breadth; pharma shares tumble
Key equity indices were almost flat in morning trade. At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 6.19 points or 0.02% at 37,108.69. The Nifty 50 index was down 2.30 points or 0.02% at 11,154.70.
Himachal Futuristic Communications acquired majority stake in telecom & defence firm RADDEF
RADDEF was formed with an aim to provide Common Of The Shelf (COTS), Radio Frequency (RF) & Microwave products to Indian and worldwide customers covering Navy, Military, Aerospace, Process Control & Automation, Communication, Test and Measurement Industry.
Tata Communications partners with Cisco to offer multi cloud hybrid network
The combination of Tata Communications' IZO cloud enablement platform and Cisco SD-WAN is a fully-managed, global solution that gives businesses greater control over their digital infrastructure, the ability to securely connect any user to any application location, and provide the assurance of application performance needed to support successful digital transformation.
Stock markets open in the green, Tata Motors up 3 pc
Equity benchmark indices opened in the green on Thursday but volatility was high in early trading hours.At 10:15 am, the BSE S & P Sensex was up 42 points at 37,157 while the Nifty 50 gained 11 points to 11,167.At the National Stock Exchange, sectoral indices were mixed with IT, media and realty showing positive signs.Among the early gainers were Tata Motors which moved up 3 per cent, Bharti Infratel, Bajaj Finance, Power Grid and Infosys.Tata Chemicals gained nearly 6 per cent after the parent group Tata Sons announced consolidation of its consumer products business.However, Indiabulls Housing Finance, Eicher Motors, Sun Pharma, Cipla and Indian Oil Corporation were in the red.Meanwhile, Asian equities swung between gains and losses as US-China tensions continued to flare.Stocks fell in Tokyo and Seoul after US President Donald Trump moved to curb Huawei Technologies' access to the US market and American suppliers.
Petronet slips after poor Q4 result
Petronet LNG fell 1.44% to Rs 229.50 at 09:40 IST on BSE after net profit declined 15.78% to Rs 440.20 crore on 2.35% fall in total income to Rs 8534.59 crore in Q4 March 2019 over Q4 March 2018.
Rupee rises 9 paise to 70.25 vs USD in early trade
The rupee appreciated marginally by 9 paise to 70.25 against the US dollar in opening trade Thursday, driven by weakening of the greenback in overseas markets and positive opening in domestic equities. Forex dealers said, weakening of the American currency in the overseas markets supported the rupee, while rising crude prices, US-China trade concerns and foreign fund outflows weighed on the domestic currency. The rupee opened at 70.26 at the interbank forex market, and touched a high of 70.25, displaying gains of 9 paise over its last close. The local unit however, pared some gains and was trading at 70.28 at 0957 hrs. The rupee Wednesday had appreciated 10 paise and closed at 70.34 against the US dollar. Meanwhile, foreign institutional investors net sold equities worth Rs 1,142.44 crore on Wednesday, provisional data available with stock exchanges showed. Brent crude futures, the global oil benchmark, rose 0.57 per cent to USD 72.18 per barrel. Domestic equity benchmarks BSE Sensex .
Lupin Ltd Slides 4.3%
Lupin Ltd has lost 9.93% over last one month compared to 8.77% fall in S&P BSE Healthcare index and 5.45% drop in the SENSEX
Lupin drops after three observations from USFDA
Lupin dropped 3.84% to Rs 753 at 09:25 IST on BSE after the company said it has received three observations from the USFDA for its Aurangabad manufacturing facility.
Phoenix Mills Ltd Spikes 2.76%
Phoenix Mills Ltd has lost 3.01% over last one month compared to 9.44% fall in S&P BSE Realty Index index and 5.4% drop in the SENSEX
Market trades on a mixed note
The Sensex was trading with small gains while the Nifty was almost flat in early trade. At 9:22 IST, the barometer index, the S&P BSE Sensex, was up 24.40 points or 0.07% at 37,139.28. The Nifty 50 index was down 0.80 points or 0.01% at 11,156.20.
Lupin in focus as USFDA completes inspection at Aurangabad facility
Lupin announced the completion of the United States Food and Drug Administration (USFDA) inspection carried out at its Aurangabad manufacturing facility. The inspection was carried out from May 6 to May 15, 2019. The inspection at the Aurangabad facility closed with three observations. The company is confident of addressing them satisfactorily. The announcement was made after market hours yesterday, 15 May 2019.