Page 3544 - Business Finance
Zinc futures remain weak, shed 0.43 pc on low demand
Zinc prices drifted lower by 0.43 per cent to Rs 217.65 per kg in futures trading today as speculators cut positions, taking negative cues from the spot market on easing demand. In futures trading at the Multi Commodity Exchange, zinc for delivery in June month fell by 95 paise, or 0.43 per cent to Rs 217.65 per kg in business turnover of 369 lots. Similarly, the metal for delivery in July contract was trading lower by 85 paise, or 0.39 per cent to Rs 217.35 per kg in 6 lots. Analysts said trimming of positions by participants due to subdued demand from consuming industries in the physical market mainly kept zinc prices down at futures trade.
Copper futures shed 0.33 pc on muted demand
Copper futures fell 0.33 per cent to Rs 483.60 per kg today as speculators booked profits at prevailing levels amid low demand at the spot markets. At the Multi Commodity Exchange, copper for delivery in far-month August declined by Rs 1.60, or 0.33 per cent to Rs 489.50 per kg in a business turnover of 8 lots. The metal for delivery in June month shed Rs 1.45 or 0.30 per cent to Rs 483.60 per kg in a business volume of 358 lots. Analysts attributed the fall to offloading of positions by speculators at prevailing higher levels coupled with subdued spot demand.
Moody's assigns Counterparty Risk Ratings for ICICI Bank
On 12 June 2018
Sintex Industries rises on bargain hunting
Sintex Industries rose 2.71% to Rs 17.05 at 10:18 IST on BSE on bargain hunting after a recent slide.
Fortis Malar Hospitals update on scheme of arrangement and amalgamation
Delay in approval process compels Board to withdraw scheme
Gold slips as Fed signals more rate hikes, but trade worries limit losses
BENGALURU (Reuters) - Gold prices eased on Thursday as the U.S. Federal Reserve forecast a slightly faster pace of interest rate hikes this year, although lingering worries over trade tensions between Washington and Beijing prevented steeper losses.
Board of Fortis Healthcare decides to withdraw scheme of arrangement and amalgamation
On 13 June 2018
Moody's Counterparty Risk Ratings for HDFC Bank and its branches
HDFC Bank Assigned local currency long-term Counterparty Risk Rating of Baa1. Assigned local currency short-term Counterparty Risk Rating of P-2.
Market drifts lower in early trade
Domestic stocks edged lower in early trade tracking negative Asian stocks after the US Federal Reserve struck a hawkish tone in its latest policy statement. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 90.35 points or 0.25% at 35,648.81. The Nifty 50 index was down 32 points or 0.29% at 10,824.70.
Phased manufacturing plan needed to boost local manufacturing of electronic components other than mobile phones: Study
As domestic value addition has increased for mobile phones, similar plans are needed to encourage manufacturing of components which are the core ingredients in the overall increase of domestic value addition, noted the study jointly conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and NEC Technologies India Pvt. Ltd.
Stocks may open on a weak note
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 38 points at the opening bell.
Rupee jumps 8 paise against dollar to 67.57
The rupee appreciated by 8 paise to 67.57 against the US dollar in early session today after the American currency weakened overseas. Dealers said fresh selling of the greenback by banks and exporters backed up the rupee. The dollar turned weak against other currencies overseas even after the US Federal Reserve lifted interest rates and signalled two more hikes this year and four in 2019. Yesterday, the domestic unit ended 16 paise down to close at a near one-week low of 67.65 against the US currency on sustained dollar demand. The benchmark Sensex dropped by 126.09 points, or 0.35 per cent, to 35,613.07 in early trade today.
Fortis Healthcare pulls out of amalgamation scheme with Fortis Malar, SRL
(Reuters) - Fortis Healthcare Ltd on Wednesday withdrew the scheme of arrangement and amalgamation with its units Fortis Malar Hospitals Ltd and SRL Ltd, citing a delay in its completion.
China's central bank unexpectedly holds fire on rates as economy wobbles
SHANGHAI (Reuters) - China's central bank left borrowing costs for interbank loans unchanged on Thursday, a surprising decision that shrugged off the U.S. Federal Reserve's policy rate increase and came as data showed the world's second-biggest economy lost more steam than expected.
HDFC Bank in spotlight after cabinet nod for Rs 24000 crore FDI
HDFC Bank will be watched. The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the proposal for grant of permission to HDFC Bank to raise additional share capital of up to a maximum of Rs 24000 crore, including premium, over and above the previous approved limit of Rs 10000 crore, such that the composite foreign shareholding in the bank shall not exceed 74% of the enhanced paid-up equity share capital of the bank, the Ministry of Finance said in a statement yesterday, 13 June 2018.
Nissan announces expansion plans in India, Africa, Middle East
Nissan Motor Co. aims to expand the company's footprints in African, Middle Eastern, and Indian markets as part of its six-year midterm plan.It plans to maintain and build on solid profit margins in the region by developing a partnership with local talent to meet growing demand for automobiles.Nissan has projected an increase of forty percent in its regional sales by bringing more than 12 million vehicles by 2022.It will further accelerate its Datsun brand's presence in new and existing markets and will continue to increase its market share in Turkey, Saudi Arabia, and India.The product range provided under Nissan Intelligent Mobility will be expanded as new services in electrification, autonomous driving systems, and improved connectivity tools will be introduced.Chairman of Nissan in Africa, Middle East, and India Peyman Kargar said, "Our ambitious plans reflect the exciting opportunities ahead. Nissan has already developed a strong presence within this fast-growing region, and we ..
Indian Dhivya Suryadevara named GM's CFO
General Motors Co on Wednesday announced Dhivya Suryadevara as Chief Financial Officer as the successor to retiring Chuck Stevens.Stevens, who has been serving the company for more than forty years, will retire as the Executive Vice President and Chief Financial Officer on March 1, 2019.Suryadevara will report to Chief Executive Officer and Chairman Mary Barra while Stevens will continue working for the company as an advisor until his retirement."Dhivya's experience and leadership in several key roles throughout our financial operations position her well to build on the strong business results we've delivered over the last several years," said Barra.Suryadevara has been GM's vice president of corporate finance since July 2017.She has played an integral role in the Opel divestiture, Cruise acquisition, Lyft investment and more recently, SoftBank's investment in GM Cruise.Suryadevara was born the year after Stevens began his career in General Motors. She was named Automotive News Rising
Gold slips as Fed signals two more rate raises
BENGALURU (Reuters) - Gold prices inched lower on Thursday as the Federal Reserve forecast two more U.S. rate increases this year after raising rates on Wednesday, although lingering worries over trade tensions between Washington and Beijing prevented steeper losses.
Oil prices fall as U.S. crude production hits another record
SINGAPORE (Reuters) - Oil prices eased on Thursday, dragged down by rising output, although strong demand and a drop in U.S. fuel inventories provided the market with some support.
Despite progress, India has a long way to go in digital and financial inclusion: W20
Despite significant progress in the Digital India campaign, India still has a long way to go when it comes to growth in financial inclusion, in particular that of women, an Indian delegate to the W-20, which represents women from G-20 countries, said. In its first recommendation paper on Digital Inclusion, the W20 has called on the G20 member states to take coordinated action to make digital transformation more inclusive by fostering women's participation in the digital sector and closing the digital gender divide in the access, development and use of digital technologies. "While the Jan Dhan Scheme may have brought in an additional 310 million Indians into the banking system between 2014-18, the extent to which they have been 'meaningfully included' into the finance system is not very clear," W-20 spokesperson Anita Gurumurthy told PTI. Gurumurthy is also the executive director of Bangalore-based IT for Change (ITfC) and Delegate of India for the W20. "There have been a number of ...