Page 3542 - Business Finance
Sun Pharmaceuticals Industries Ltd is up for a fifth straight session today
The stock is quoting at Rs 558.3, up 2.2% on the day as on 12:44 IST on the NSE. Sun Pharmaceuticals Industries Ltd is up 2.63% in last one year as compared to a 12.64% jump in NIFTY and a 6.55% jump in the Nifty Pharma.
Wholesale inflation hits 14-month high at 4.43 pct in May
India's wholesale inflation witnessed a 14-month high as it grew 4.43 percent in May.Driven by some food items and fuel prices, the latest price data released by the commerce and industry ministry showed the Wholesale Price Index (WPI), which is a marker for price movements in bulk buys, a growth of 3.18 percent in April and 2.26 percent in May 2017.Index for primary articles that account for more than a fifth of the entire wholesale price index grew 3.16 percent in May from (-)1.71 percent year a percent ago and 1.41 percent in April.Vegetables prices grew 2.51 percent in May as compared with a fall of 0.89 percent in April and (-) 18.37 percent a year ago.Potato prices continued to rise for the fifth consecutive month to rise 81.93 percent in May from 67.94 percent in April and (-) 43.84 percent a year ago.Prices of pulses continued to slump for over a year now, with rate of decline relatively slowing at (-) 21.13 percent in May, as compared with a de-growth of (-) 22.46 percent in .
JSW Steel completes acquisition of 83% stake in Acero Junction Holdings Inc
After giving effect to closing adjustments, the total Enterprise Value of the transaction is USD 182.41 million, with equity value of USD 80.85 million and liabilities of USD 101.56 million
Corporation Bank revises MCLR
With effect from 15 June 2018
Wheat futures surge on speculative buying
Wheat prices shot up by 0.95 per cent to Rs 1,808 per quintal in futures trade today as speculators built up fresh positions. At the National Commodity and Derivatives Exchange, wheat for delivery in August shot up by Rs 17, or 0.95 per cent to Rs 1,808 per quintal with an open interest of 240 lots. Similarly, the wheat for delivery in July went up by Rs 9, or 0.50 per cent to Rs 1,795 per quintal with an open interest of 9,300 lots. Analysts said fresh positions created by traders following pick-up in demand in the physical market and a pause in arrivals from producing belts influenced wheat prices.
Oil eases on China refining dip, higher U.S. crude output
SINGAPORE (Reuters) - Oil prices eased on Thursday, dragged down by rising output and a decline in China's refining activity, although strong fuel consumption in the United States and a drop in its crude inventories provided some support.
Coriander futures rise 2.16% on spot demand
Coriander prices were trading higher by 2.16 per cent at Rs 4,435 per quintal in futures trade today as participants built up positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing belts also weighed coriander futures. At the National Commodity and Derivatives Exchange, coriander for this month delivery rose by Rs 94, or 2.16 per cent, to Rs 4,435 per quintal, with an open interest of 350 lots. On similar lines, the delivery for July contract was trading higher by Rs 58, or 1.30 per cent, to Rs 4,490 per quintal with an open interest of 34,890 lots. Market analysts attributed the rise in coriander futures to upsurge in demand in the physical market against tight stocks on fall in supplies from producing regions.
Multi-product SEZ inaugurated at Mahindra World City, Jaipur
This occasion was also marked by the signing of MoU's with two new customers - Sigma Electric, global leader and exporter of castings and precision-machined components and Aro Granite, largest exporter of processed granite from India - for setting up manufacturing facilities in the newly launched Multiproduct SEZ. The SEZ at Mahindra World City. Jaipur is already home to leading companies such as Deutsche Bank, Metlife, Infosys, Knitpro, Maxop and Wipro.
Negative market breadth
Weakness persisted on the bourses in early afternoon trade. At 12:16 IST, the barometer index, the S&P BSE Sensex, was down 231.43 points or 0.65% at 35,507.73. The Nifty 50 index was down 76.05 points or 0.7% at 10,780.65. Oil stocks declined. Telecom stocks saw mixed trend. Negative Asian stocks weighed on the domestic bourses.
ECB gets ready to pull the plug on stimulus scheme
FRANKFURT (Reuters) - The European Central Bank will debate on Thursday whether to end its huge asset purchases by year-end, in what would be its biggest step towards dismantling crisis-era stimulus credited with pulling the euro zone economy out of recession.
US-based Avaya set to empower growing Indian mobile workforce
India, which is a mobile-first country, will soon have millions working on their smartphones from anywhere, any time, and global communications technology firm Avaya is all geared up to tap the huge potential, a top executive has stressed.
British engine maker Rolls-Royce cutting 4,600 jobs
Rolls-Royce, the British maker of plane engines, said today that it plans to cut 4,600 mainly British jobs by 2020, adding to thousands of cuts already announced in recent years. "Rolls-Royce announces the next stage in our drive for pace and simplicity with a proposed restructuring that will deliver improved returns, higher margins and increased cash flow," the group said in a statement. The London-listed company, whose engines are used in Airbus and Boeing aircraft, said the latest cuts would produce 400 million pounds (USD 536 million) of annual cost savings by the end of 2020. Rolls has faced a tough trading environment in recent years on weak demand for its plane engines and marine power systems. Although it roared back into profit last year, this was largely owing to a recovery in the pound. "Our world-leading technology gives Rolls-Royce the potential to generate significant profitable growth," the company's chief executive Warren East said alongside today's announcement. "The
IT, cement stocks decline
Stocks continued to trade with weakness in mid-morning trade. At 11:16 IST, the barometer index, the S&P BSE Sensex, was down 218.92 points or 0.61% at 35,520.24. The Nifty 50 index was down 69.40 points or 0.64% at 10,787.30. IT stocks dropped. Cement stocks declined. Negative Asian stocks weighed on the domestic bourses.
Hindusthan National Glass & Industries Ltd leads gainers in 'B' group
Jubilant Industries Ltd, Kanani Industries Ltd, Binani Industries Ltd and Trigyn Technologies Ltd are among the other gainers in the BSE's 'B' group today, 14 June 2018.
India's May wholesale inflation doubles year-on-year to 4.43%
A major spurt in food and fuel prices in the country pushed the wholesale price index (WPI) for May to 4.43 per cent, to nearly double over the 2.26 per cent registered in May last year and higher than the 3.18 per cent recorded in April, 2018, Commerce Ministry data showed on Thursday.
Want to make Mumbai fintech hub: Maharashtra CM Fadnavis
Maharashtra Chief Minister Devendra Fadnavis said he is focussing on making Mumbai a hub for the financial technology industry, an emerging and fast-growing sector that offers tremendous employment potential, and is keen to invite foreign investment in the sector in his state. Our big focus is on fintech (financial technology). We have not leveraged Mumbai's recognition as the financial capital of India. Fintech is an emerging field which not only opens up lot of job opportunities but is also one of the fastest growing fields, Fadnavis told PTI in an interview here yesterday. Fadnavis is currently visiting the US following a trip to Canada. We want to make Mumbai a fintech hub and that is where I'm looking for fintech investments and companies to come and set up base in the city, he said. Fadnavis, who arrived in the city after visiting Canada, will also visit Washington and San Francisco and meet with investors and companies, inviting them to continue their investments in his state. .
WPI inflation rises to 14-month high of 4.43 pc in May on costlier fuel, veggies
Inflation based on wholesale prices shot up to a 14-month high of 4.43 per cent in May on increasing prices of petrol and diesel as well as vegetables. The Wholesale Price Index (WPI) based inflation stood at 3.18 per cent in April and 2.26 per cent in May last year. According to government data released today, inflation in food articles was at 1.60 per cent in May 2018, as against 0.87 per cent in the preceding month. Inflation in vegetables climbed to 2.51 per cent in May, while in the previous month it was (-)0.89 per cent. Inflation in 'fuel and power' basket rose sharply to 11.22 per cent in May from 7.85 per cent in April as prices of domestic fuel increased in line with rising global crude oil rates. Potato inflation was at a peak of 81.93 per cent, against 67.94 per cent in April. Price rise in fruits was in double digits at 15.40 per cent, while pulses saw a deflation of 21.13 per cent. The WPI inflation for March was revised upwards to 2.74 per cent from the provisional ...
KPIT Technologies bags two manufacturing leadership awards
From Frost and Sullivan
Alembic Pharmaceuticals Ltd leads gainers in 'A' group
Vakrangee Ltd, Kwality Ltd, Jaiprakash Associates Ltd and Divis Laboratories Ltd are among the other gainers in the BSE's 'A' group today, 14 June 2018.