Page 3562 - Business Finance
Megastar Foods receives additional purchase order worth Rs 7.11 cr
For supply of wheat flour
Gold steady as markets cautious ahead of U.S. Fed statement
BENGALURU (Reuters) - Gold prices held steady on Wednesday after falling to a one-week low in the previous session, as investors waited for clues on the pace of future interest rate hikes by the U.S. Federal Reserve when its policy meeting concludes later in the day.
Auto, cement stocks in demand
Stocks trimmed gains in early afternoon trade. At 12:19 IST, the barometer index, the S&P BSE Sensex, was up 87.03 points or 0.24% at 35,779.55. The Nifty 50 index was up 22.50 points or 0.21% at 10,865.35. Auto stocks gained. Cement stocks rose.
Oil prices drop on rising supplies from top three producers
SINGAPORE (Reuters) - Oil prices fell on Wednesday, hit by rising supplies in the United States and expectations that producer cartel OPEC could relax voluntary output cuts.
Vegoils: Palm oil extends fall to over 22-month low on weaker related oils
KUALA LUMPUR (Reuters) - Malaysian palm oil futures extended falls to a more than 22-month low on Wednesday, tracking weakness in related edible oils.
Blackstone raises $9.4 billion for Asia real estate, private equity funds
HONG KONG (Reuters) - Blackstone Group LP said it has raised about $9.4 billion for two new funds - the largest-ever fund dedicated to real estate investments in Asia as well as its first private equity fund for the region.
Jeera futures up 1.11% on rising demand
Jeera prices rose by 1.11 per cent to Rs 16,365 per quintal in futures trade today as stockists and retailers built up positions, triggered by a firm trend at the physical markets on domestic and export demand. Besides, tight stock positions following restricted arrivals from the growing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, jeera for delivery in the current month contract rose by Rs 180, or 1.11 per cent, to trade at Rs 16,365 per quintal, with an open interest of 231 lots. Likewise, the contracts for delivery in July was trading higher by Rs 105, or 0.64 per cent, to Rs 16,480 per quintal with an open interest of contract stood at 5,520 lots. Traders said, speculative positions built up by participants amid rising domestic as well as export demand led to the rise in jeera prices.
Growing love for organic skincare in India
Organic and vegan products are the new must-haves that beauty conscious people and skincare lovers are rooting for. While some brands have been able to spot and bank on the gaping gap in the variety available, consumers are becoming more receptive to know the importance of using chemical-free products with right ingredients on their body.
Jubilant Industries Ltd leads gainers in 'B' group
Adlabs Entertainment Ltd, Ortin Laboratories Ltd, Ansal Housing & Construction Ltd and Lovable Lingerie Ltd are among the other gainers in the BSE's 'B' group today, 13 June 2018.
Craftsman Automation files IPO papers with Sebi
Auto component maker Craftsman Automation has filed draft papers with markets regulator Sebi for its Initial Public Offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an offer for sale of up to 43,83,320 shares of Craftsman Automation by promoters, as per the DRHP filed with Securities and Exchange Board of India (Sebi). The promoters offloading the stakes include Srinivasan Ravi (2.10 lakh shares), Marina III (SINGAPORE) (over 15.59 lakh), IFC (14.14 lakh ) and K Gomatheswaran (up to 12 lakh ). The company proposes to utilise the funds towards funding the repayment/pre-payment, in full or part, of certain borrowings and for general corporate purposes. The shares offered through the IPO are proposed to be listed on stock exchanges and the company has received 'in-principle' approval from BSE and NSE for the listing. International Finance Corporation (IFC) and Marina presently hold 14.06 per cent and 15.50 per cent stake, respectively,
Second tranche of Bharat-22 ETF on June 19; govt to get up to Rs 8,400 cr
The Finance Ministry will launch the second tranche of Bharat-22 exchange traded fund (ETF) on June 19 which will help raise up to Rs 8,400 crore from the markets. The issue will open for anchor investors on June 19 and for other institutional and retail investors the next day. The ETF follow on offer will remain open till June 22. The investors would get a 2.5 per cent discount over the issue price. The government is aiming at mopping up Rs 6,000 crore, with a green-shoe option to retain another Rs 2,400 crore from the Bharat-22 ETF follow on offer to be launched on June 19, a Finance Ministry official said. This offer would also help the government in meeting the minimum public holding norm in PSUs like Coal India. The government had in November last year launched Bharat-22 ETF comprising shares of 22 companies, including public sector undertakings (PSUs), public sector banks, ITC, Axis Bank and L&T. The fund had garnered bids to the tune of Rs 32,000 crore, although the ...
Recruitment of freshers increases 15% in May: Report
Hiring of freshers across the major cities in the country increased around 15 per cent in May 2018 on a year-on-year basis, a report said here on Wednesday.
Cisco introduces new tools to empower developers
Global networking major Cisco has released new developer capabilities across its intent-based networking platform, spanning the entire network from campus to data centre.
Cisco's 'DevNet' programme hits 5 lakh members
Global networking major Cisco's developer programme 'DevNet' that began in 2014 now has 5 lakh registered members, the company has said.
Maha govt, Quebec ink pact for greater economic cooperation
The Maharashtra government and Canada's Quebec province have signed a pact to increase the economic cooperation, specially in areas like information technology, biotechnology, artificial intelligence and welfare of the tribal community. Chief Minister Devendra Fadnavis, who is on a week- long tour to the US and Canada, signed a Memorandum of Understanding (MoU) to this effect with Quebec Premier Philippe Couillard today. "We also discussed ways to increase our collaboration over knowledge-sharing on ports as today Maharashtra has the strength of majority of youngest population," Fadnavis said in a statement. The chief minister also met Pierre Beaudoin, chairman of the Board Corporate office of Bombardier Inc, a multinational aerospace and transportation company and the world's leading manufacturer of aircraft and trains in Quebec. Fadnavis said Bombardier Inc has assured support to the Maharashtra Metro and Monorail Transport Infrastructure, "that will change the shape .
Wheat futures shed 2.32% on ample stocks
Wheat prices moved down by 2.32 per cent to Rs 1,770 per quintal in futures trade today as speculators cut down their holdings, triggered by adequate stocks in the spot market on increased supplies. At the National Commodity and Derivatives Exchange, wheat for delivery in August fell by Rs 42, or 2.32 per cent, to Rs 1,770 per quintal with an open interest of 200 lots. Similarly, the wheat for delivery in July contracts shed Rs 3, or 0.17 per cent, to Rs 1,785 per quintal in 9,250 lots. Market analysts said offloading of positions by traders, driven by sufficient stock position on increased arrivals from producing belts in the physical markets against low demand, weighed on wheat prices at futures trade.
Turmeric futures edge 1.61% higher on bargain buying
Turmeric prices rose 1.61 per cent to Rs 7,306 per quintal in futures trading today due to bargain buying by retailers and stockists at current levels amid restricted supplies from growing regions. Meanwhile, firm domestic spot as well as export demand also kept the prices in positive trend. At the National Commodity and Derivatives Exchange, turmeric for delivery in July contract was trading higher by Rs 116, or 1.61 per cent, to Rs 7,306 per quintal with an open interest of 15,145 lots. The spice for delivery in the current month also increased by Rs 66, or 0.93 per cent, was trading at Rs 7,170 per quintal, in an open interest of 95 lots. Analysts said bargain buying by participants at prevailing levels amid pick up in domestic as well as export demand at the spot market against restricted supplies from producing regions, pushed up turmeric prices in futures trade.
OVL conditions financing of Venezuelan oilfield on clearing past dues
ONGC Videsh has conditioned arranging for finances for remediating and raising oil production at Venezuela's San Cristobal field on the cash-strapped Latin American nation clearing its past dividend dues. The firm's parent, state-owned Oil and Natural Gas Corp (ONGC) in a regulatory filing said Venezuela has not paid OVL USD 449 million (about Rs 3,305 crore) of accrued dividend for four years. OVL has 40 per cent stake in the San Cristobal field, which produces around 18,000 barrels of oil per day. Venezuelan national oil company Petroleos De Venezuela S.A. (PDVSA), which holds the remaining 60 per cent stake, has not paid the dividend to Indian firm since 2009. In response to comments sought by stock exchanges over a PTI story on Venezuela stopping dividend payments to OVL, ONGC said Venezuela had in November 2016 agreed to pay USD 537.63 million of dividend due for 2009 to 2013, in installments. In lieu, OVL agreed to help PDVSA arrange USD 318 million financing for the San ...
Redington India Ltd leads gainers in 'A' group
Delta Corp Ltd, PC Jeweller Ltd, Jai Corp Ltd and Vakrangee Ltd are among the other gainers in the BSE's 'A' group today, 13 June 2018.
China's ZTE dives 39% at resumption of trading in Hong Kong
Shares in Chinese telecoms equipment maker ZTE collapsed 39 per cent today as trading in the company resumed after it reached a settlement with the United States over its handling of a sanctions violation. Dealing in the firm was suspended in April after Washington said it had banned American companies from selling crucial hardware and software components to it for seven years. The decision came after US officials said ZTE had failed to take action against staff who were responsible for violating trade sanctions against Iran and North Korea. The company was fined USD 1.2 billion last year for those violations. The move in April put the company's future in doubt and it became a key issue in a wider trade spat between Washington and Beijing. But last week the two sides reached a deal to replace the sanctions with a USD 1 billion penalty, plus another USD 400 million in escrow to cover possible future violations. Shenzhen-based ZTE will also be required to change its entire board of ...