Page 3563 - Business Finance
Global policy trends that should interest Indian infrastructure sector (Column: Behind Infra Lines)
In a world where trade wars dominate news headlines, trade in goods is interesting, but trade in capital is no less exciting. The Indian infrastructure ecosystem should take note of some policy and regulatory changes globally over the last few months. These can potentially aid the country to significantly bridge the infrastructure financing gap.
Robust demand lifts cardamom futures by 3 pc
Cardamom prices spurted 3 per cent to Rs 979.50 per kg in futures trade today as speculators raised their bets amid an increase in physical demand in the domestic spot market. Tight stocks position on fall in arrivals from growing regions too fuelled the uptrend. At the Multi Commodity Exchange, cardamom for delivery in July month went up by Rs 28.50, or 3 per cent, to Rs 979.50 per kg in a business turnover of 64 lots. Similarly, the spice for delivery in the current month edged higher by Rs 26.70, or 2.99 per cent, to Rs 919.20 per kg with a trading volume of just one lot. Traders said widening of positions by participants, driven by surge in demand in the physical market against restricted supplies from producing regions, led to the rise in cardamom prices in futures trade.
Mentha oil futures gain 1.33% on spot demand
Mentha oil prices climbed 1.33 per cent to Rs 1,138 per kg in futures market today after participants raised bets amid rise in demand from consuming industries at the spot market against restricted arrivals from producing regions. At the Multi Commodity Exchange, mentha oil for delivery this month's contract was higher by Rs 15, or 1.33 per cent, at Rs 1,138 per kg with a business volume of 321 lots. The oil for July delivery was trading higher by Rs 12.10, or 1.07 per cent, to Rs 1,147 per kg with a trading volume of 89 lots. Marketmen said raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
WTO chief warns of global downturn if trade dispute escalates
BERLIN (Reuters) - If the trade conflict between the United States and other countries intensifies, it could negatively impact the global economy and there are indications this is already happening, the head of the World Trade Organization warned in newspaper.
Sun Pharma shares gain 4%; m-cap rises by Rs 2,384 cr
Shares of Sun Pharmaceutical Industries today gained nearly 4 per cent after the company received establishment inspection report (EIR) from the US health regulator for its Halol facility in Gujarat. The stock went up by 3.74 per cent to Rs 560.75 on BSE. On NSE, shares of the company rose by 3.79 per cent to Rs 560.95. Led by the rally in the stock, the company's market valuation climbed Rs 2,384.55 crore to Rs 1,31,911.60 crore during the morning trade. The company has received EIR from the United States Food and Drug Administration (USFDA) for the inspection conducted at the Halol facility during the period February 12-23, 2018, Sun Pharma said in a filing to BSE yesterday. "The agency concluded that the inspection is now closed and the issues contained in the warning letter issued in December 2015 have been addressed," it added. Commenting on the development, Sun Pharma MD Dilip Shanghvi said, "This is an important development for Sun Pharma. We remain committed to following the ..
Bharat Forge firms up after picking strategic stake in UK's Tevva Motors
Bharat Forge rose 1.91% to Rs 665.70 at 11:49 IST on BSE after the company said it took a strategic stake in electric vehicle company, Tevva Motors (Jersey).
TCS up 3% on share buyback plan
The scrip of Tata Consultancy Services (TCS) rose nearly 3 per cent today on the company's plan to buy back shares at its board meeting later this week. Shares of the company opened the day on a positive note and later gained 2.75 per cent to Rs 1,830 as the trade progressed on BSE. At NSE, shares of the IT major climbed 2.24 per cent to Rs 1,821. "...the Board of Directors will consider a proposal for buyback of equity shares of the company, at its meeting to be held on June 15, 2018," TCS said in a BSE filing late last night. The Mumbai-based company however did not disclose any further details about the buyback proposal. Share buybacks typically improve earnings per share and return surplus cash to shareholders, while also supporting share price during period of sluggish market condition.
Weak British market drags down Mulberry's retail sales
LONDON (Reuters) - British leather handbag maker Mulberry said retail like-for-like sales fell 7 percent in the 10 weeks to June 2 as growth in international markets failed to offset weak demand at home.
Sensex edges higher; TCS gains on hopes of share buyback
(Reuters) - Indian shares edged higher or Wednesday, set for their third straight winning session, as top software services exporter Tata Consultancy Services Ltd gained on hopes that it would buy back stock, while solid monthly industrial growth data on Tuesday boosted market sentiment.
Instagram Stories gets shoppable tags feature
Instagram is extending its shoppable tags feature to Stories starting this week.The shoppable tags will now also be visible in Stories. Once you tap on them, you will be redirected to more details on pricing and availability of the product, TechCrunch reported.Instagram says 300 million people are using its Stories platform every day.
IT stocks advance
Key benchmark indices once again regained strength in mid-morning trade led by gains in TCS, Infosys and Axis Bank. At 11:18 IST, the barometer index, the S&P BSE Sensex, was up 127.83 points or 0.36% at 35,820.35. The Nifty 50 index was up 29.60 points or 0.27% at 10,872.45. IT stocks gained. Telecom stocks saw mixed trend.
DailyNinja secures USD 3 mn funding from Saama, Sequoia Capital
Hyperlocal subscription-based delivery startup Daily Ninja has announced raising funds worth USD 3 million from Saama Capital and existing investor Sequoia Capital.The company which provides early morning delivery everyday essentials, will utilize the funds in expanding and becoming a household name across Bengaluru and Hyderabad.After receiving funds from VC round in October 2017, this is the second time the company has secured funding. With a total USD 4.5 million, the company intends to use the capital to expand their business by acquiring more customers across Bengaluru, Hyderabad and Gurgaon.The funds will also be used upgrade customer experience by adding more offerings for their customers."With this fundraise we plan to expand in new cities and capture a bigger customer base in our home city of Bengaluru. We are delighted to have two very successful and respected investors in Sequoia and Saama capital partner with us," said CEO and co-founder Daily Ninja, SagarYarnalkar."This ..
Toshiba sets $6.3 billion share buyback with proceeds of chip unit sale
TOKYO (Reuters) - Toshiba Corp unveiled a higher-than-expected $6.3 billion stock buyback that sent its shares up as much as 11 percent, as the Japanese firm followed up on a pledge to share proceeds from an $18 billion sale of its memory chip business.
Global Markets: Asian stocks step back as investors brace for Fed, eye trade row
TOKYO (Reuters) - Asian shares fell on Wednesday as investors braced for a Federal Reserve policy decision later in the day and any clues it might give on future rate hikes that could alter the course of global economic growth and corporate earnings.
Crude palm oil futures fall 0.94 pc on profit-booking
Crude palm oil prices fell by another 0.94 per cent to Rs 627.50 per 10 kg in futures trade today as speculators booked profits amid fall in demand at the spot market. Negative overseas cues also put pressure on prices. At the Multi Commodity Exchange, crude palm oil for delivery in the current month eased by Rs 6, or 0.94 per cent, to Rs 627.50 per 10 kg, in a business turnover of 208 lots. The oil for delivery in July contract traded lower by Rs 4.80, or 0.76 per cent, to Rs 675.70 per 10 kg in 109 lots. Analysts said profit-booking by speculators at prevailing levels and a fall in demand at spot market weighed on crude palm oil prices.
Refined soya oil futures drop on low demand
Continuing its losing streak for the fourth straight day, refined soya oil prices declined 0.47 per cent to Rs 736.80 per 10 kg in futures market today as speculators cut their holdings amid fall in demand at the spot market. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July fell Rs 3.50, or 0.47 per cent to Rs 736.80 per 10 kg with an open interest of 50,640 lots. Likewise, the oil for delivery in June was trading lower by Rs 2.85, or 0.39 per cent to Rs 729.45 per 10 kg in 29,680 lots. Analysts said cutting down of positions by participants due to slump in demand in the physical market against adequate stocks position on increased arrivals from producing regions mainly kept refined soya oil prices down at futures trade.
NLC India forays into Power Trading
CERC grants it Category I Licence for power trading
Zinc futures extend slide on weak spot cues
Zinc prices fell further by 0.48 per cent to Rs 216.40 per kg in futures trading today as speculators reduced their positions, tracking a weak trend at the spot market on muted demand. At the Multi Commodity Exchange, zinc for delivery in June month fell by Rs 1.05, or 0.48 per cent to Rs 216.40 per kg in business turnover of 890 lots. Similarly, the metal for delivery in July contracts shed Re 1, or 0.46 per cent to Rs 216.30 per kg in 9 lots. Analysts said trimming of positions by participants due to fall in demand from consuming industries in the physical market mainly kept zinc prices weak at futures trade.
US stocks end mostly higher
The utilities sector was the top performer
Volumes soar at Jammu and Kashmir Bank Ltd counter
Jammu and Kashmir Bank Ltd recorded volume of 27.64 lakh shares by 10:54 IST on BSE, a 54.26 times surge over two-week average daily volume of 50947 shares