Page 3576 - Business Finance
Indo Amines registers two products under REACH registration
1.Tallow Amine 2.Oleyl Amine
Freight rates for southern states up
Freight rates for nine-tonne pay load section for southern states rose by Rs 1,000 at the local truck transport market in the national capital today following pick up in cargo movements against tight availability of trucks. Transporters said, increased cargo movements against less availability of trucks mainly pushed up freight rates for selected destinations. Freight rates from Delhi to Bengaluru, Chennai and Mysore quoted higher by Rs 1,000 each to Rs 62,000, Rs 64,000 and Rs 68,000, respectively.
Cabinet nod for new telecom policy by July-end: Manoj Sinha
A new telecom policy is likely to be in place by July 2018, Communications Minister Manoj Sinha said on Wednesday.
Positive market breadth
Stocks hovered in positive zone in mid-afternoon trade on sustained buying demand in index pivotals. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 183.85 points or 0.52% at 35,667.32. The Nifty 50 index was up 47.65 points or 0.44% at 10,834.60. Capital goods stocks stocks saw mixed trend. Sentiment on the domestic bourses was boosted by upbeat global stocks after US President Donald Trump and North Korean leader Kim Jong Un reportedly signed an unspecified document in Singapore.
Hotel Leela gains on converting debt to equity
Hotel Leela Venture rose 2.56% to Rs 18 at 14:27 IST on BSE after the company said its board approved issuing 125 crore shares to JM Financial Asset Reconstruction Company on conversion of debt.
Volumes jump at ERIS Lifesciences Ltd counter
ERIS Lifesciences Ltd saw volume of 3.37 lakh shares by 14:24 IST on NSE, a 17.7 fold spurt over two-week average daily volume of 19031 shares
Sugar remains muted in thin trade
There was not much activity at the wholesale sugar market in the national capital today with prices moving in a narrow range in scattered deals and settled at previous levels. Marketmen said, sufficient stocks position in the market against sporadic demand mainly kept sugar prices at last levels. Following are today's quotations (in Rs per quintal) Sugar retail markets - Rs 35-40 per kg. Sugar ready: M-30 Rs 3,550-3,700, S-30 Rs 3,540-3,690. Mill delivery: M-30 Rs 3,260-3,430, S-30 Rs 3,250-3,420. Sugar millgate (including duty): Mawana Rs 3,290, Kinnoni Rs 3,430, Asmoli Rs 3,360, Dorala Rs 3,350, Budhana Rs 3,360, Thanabhavan Rs 3,370, Dhanora Rs 3,390, Simbholi Rs 3,420, Khatuli Rs 3,460, Dhampur Rs 3,280, Sakoti 3,300, Modinagar 3,320, Shamli 3,310, Malakpur 3,320, Ramala not available, Anupshaher N.A, Baghpat N.A.,Morna N.A., Chandpur N.A., Nazibabad N.A and Nanota N.A.
Hong Kong stocks close higher after summit
Hong Kong shares ended higher today following a historic summit between Donald Trump and Kim Jong Un, while the focus now turns to key policy meetings at the Federal Reserve and European Central Bank. The Hang Seng Index rose 0.13 percent, or 39.36 points, to close at 31,103.06. The benchmark Shanghai Composite Index closed 0.89 percent higher, or 27.02 points, at 3,079.80. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 1.03 percent, or 17.98 points, to 1,759.16.
The economy is in a sweet spot-CII
The economy is in a sweet spot right now as the adjustment process regarding major reforms of the past few years is largely stabilised and industry is ready for a fresh phase of investment while capacity utilization builds up, said Mr Rakesh Bharti Mittal, President, CII. Rs 50,000 crore worth of investments have been recently announced, noted the CII release.
Gold stays weak on global cues, low demand
Continuing its fall for the second straight day, gold prices drifted down by another Rs 150 to Rs 31,800 per 10 gram at the bullion market today largely in tandem with a subdued trend overseas amid muted demand from local jewellers. However, silver reclaimed the Rs 41,000-mark by spurting Rs 1,110 to Rs 41,560 due to increased offtake by industrial units and coin makers. Traders said sentiment in gold remained downbeat on the back of weak global cues where gold dropped, weighed down by a stronger dollar amid encouraging signs of an historic US-North Korea summit in Singapore and a likely interest rate hike by the US Federal Reserve, eroding demand for the precious metal as a safe haven. Globally, gold fell 0.19 per cent to USD 1,297.50 an ounce in Singapore. Besides, fall in demand from local jewellers and retailers at the domestic spot market too weighed on gold prices, they said. In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell further by Rs 150 each to .
Chambal Fertilisers & Chemicals gets assigned credit ratings
From CRISIL and ICRA
Solar installations in India rise by 34% in Q1
Solar installations in India increased by 34 per cent to 3,269 mw in the first quarter of 2018 compared with the fourth quarter of 2017, according to Mercom Communications. "Q1 2018 was the best quarter on record for solar installations in India, with 3,269 MW, a 34 per cent increase compared to 2,448 MW installed in Q4 2017. Installations were also up when compared to the 2,991 MW installed in Q1 of 2017," Mercom Communications India said in a statement. Mercom Communications India, a subsidiary of Mercom Capital Group, said that the surge in installations in first quarter of ongoing calendar year was primarily on account of completion of projects which were scheduled for commissioning the previous quarter, but had experienced delays due to grid connection issues. This was the first quarter of over 3 GW installed in the Indian solar market and the fifth quarter in a row where at least 2 GW of solar installations, the statement said. "Even though Q1 was a record quarter, solar ...
China auto sales rise 7.9 per cent in May as electrics surge
China's auto sales rose 7.9 per cent in May from a year earlier as purchases of electric and gasoline-electric hybrid vehicles more than doubled to 102,000. An industry group, the China Association of Automobile Manufacturers, said today that sales of SUVs, sedans and mini vans rose to 1.9 million. Total vehicle sales, including trucks and buses, rose 9.6 per cent to 2.3 million. The group said sales from January through May rose 5.1 per cent to 9.9 million, rebounding from 2017's annual growth of just 1.4 per cent. Sales of electric and gasoline-electric hybrids rose 126 per cent. Beijing has spent heavily to transform China into the world's biggest electric car market and is preparing to enforce sales quotas to press global auto makers to speed up development.
BSE, Ebix plan to launch insurance platform by year-end
Leading bourse BSE and its joint venture (JV) partner Ebix, a US-based insurance exchange, are awaiting approval from the IRDAI to start an insurance distribution exchange platform, and expect to launch it by the end of this year, a senior BSE official said. The platform will allow distribution outlets, stock brokers, wealth management advisors and financial institutions to sell life and non-life insurance products. "We have tied up with Ebix for distribution of insurance in an exchange model, and are expecting IRDAI approval soon," Ashishkumar Chauhan, managing director and chief executive, Bombay Stock Exchange (BSE) told reporters on the sidelines of a 'retail technology' conclave here. "It is expected to be launched by the end of this year," he added. The product will be similar to BSE-Star MF, which allows to purchase and redeem mutual fund schemes through a single platform, Chauhan said. The newly established JV, which was announced last October, will operate under
Cadila Healthcare Ltd is up for a fifth straight session
The stock is quoting at Rs 376.65, up 2.23% on the day as on 12:54 IST on the NSE. Cadila Healthcare Ltd is down 30.52% in last one year as compared to a 12.86% spurt in NIFTY and a 7.57% spurt in the Nifty Pharma.
Infosys Ltd gains for a fifth straight session today
The stock is quoting at Rs 1262.4, flat on the day as on 12:54 IST on the NSE. Infosys Ltd is up 31.8% in last one year as compared to a 12.86% spurt in NIFTY and a 33.92% spurt in the Nifty IT.
Tata Consultancy Services Ltd up for a fifth straight session
The stock is quoting at Rs 1775.6, up 1.48% on the day as on 12:54 IST on the NSE. Tata Consultancy Services Ltd is up 44.85% in last one year as compared to a 12.86% spurt in NIFTY and a 33.92% spurt in the Nifty IT.
Emami Ltd spurts for a fifth straight session today
The stock is quoting at Rs 1082.8, up 1.18% on the day as on 12:54 IST on the NSE. Emami Ltd is down 4.37% in last one year as compared to a 12.86% gain in NIFTY and a 11.9% gain in the Nifty FMCG.
Bajaj Holdings & Investment Ltd soars 3%
The stock is quoting at Rs 2965, up 3.01% on the day as on 12:54 IST on the NSE. Bajaj Holdings & Investment Ltd is up 39.46% in last one year as compared to a 12.86% spurt in NIFTY and a 14.75% spurt in the Nifty Financial Services.
Kim, Trump commit to 'complete denuclearization' of Korean Peninsula
North Korean leader Kim Jong-un agreed on Tuesday with US President Donald Trump to completely denuclearize the Korean Peninsula in exchange for security guarantees.