Page 367 - Business Finance
Stocks further extend gains; breadth negative
The market further extended gains and hit fresh intraday high in mid-afternoon trade. At 14:20 IST, the barometer index, the S&P BSE Sensex, was up 317.94 points or 0.86% at 37,408.76. The Nifty 50 index was up 100.65 points or 0.90% at 11,248.85.
Adani to develop container terminal port in Myanmar
Adani Group Tuesday said it has received approvals to develop a new container terminal in Myanmar as the diversified conglomerate spreads its port operations beyond Indian shores. This will be Adani's second international port after Australia. It said the investment does not breach Australian, US, UN or other international sanctions against Myanmar. "Adani rejects insinuations that this investment is unethical or will compromise human rights," the group said in a statement. "As with all its international investments, the Adani Group has been guided by the Securities and Exchange Board of India and other key international guidelines and will inform the concerned authorities when we firm up the agreements." The land where the port is proposed to be built has been leased from the Myanmar Economic Corporation (MEC). "An Adani Group company, the Adani Yangon International Terminal Co Ltd, has received approval from the Myanmar Investment Commission for an investment in a new container port
Arvind Fashions Partners With Nucleus Vision to Create a More Seamless & Personalized Shopping Experience
/ -- Deploys Nucleus Vision's proprietary sensor technology in GAP, Nautica & U.S. Polo Assn. stores to offer a personalized shopping experience to consumers As modern-day shoppers are inclining more towards personalization, Indian clothing retail chain Arvind Fashions Limited is exploring new ways to understand their customers better. Arvind, a licensee of numerous international fashion brands, has signed an MoU with Nucleus Vision, an IoT & Blockchain company, to initiate a pilot project aiming to offer a personalized experience to their shoppers. Following the partnership, Arvind will implement Nucleus Vision's proprietary sensor technology in their GAP, Unlimited and U.S. Polo. Assn. stores to strengthen customer analytics. "We see tremendous interest from the customers for a more evolved and personalized shopping experience. Nucleus Vision's revolutionary technology will give us valuable insights into our customer behavior, which will help us improve customer ...
Hong Kong, Shanghai stocks sink as China hikes tariffs
Shares in Hong Kong sank Tuesday, in line with a sell-off across Asia and following a hammering on Wall Street as China's retaliation against US tariff hikes fanned fears of an all-out trade war between the economic titans. The Hang Seng Index fell 1.50 percent, or 428.22 points, to 28,122.02. The benchmark Shanghai Composite Index lost 0.69 percent, or 20.10 points, to 2,883.61 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 0.62 percent, or 9.68 points, to 1,542.07.
Sensex, Nifty come off day's low
Key benchmarks pared losses after hitting fresh intraday low in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, was down 68.18 points or 0.18% at 37,022.64. The Nifty 50 index was down 17.20 points or 0.15% at 11,131. Investor sentiment took a hit as the trade war between the United States and China escalated.
Aluminium futures up 0.17 pc on spot demand
Aluminium prices inched up 0.17 per cent to Rs 148.85 per kg in futures trade Tuesday as speculators created fresh positions amid rising spot demand and positive trend overseas. On the Multi Commodity Exchange, aluminium for delivery in May contracts edged up by 25 paise, or 0.17 per cent, to Rs 148.85 per kg in 1,592 lots. Analysts said positions built up by participants on the back of rising demand from consuming industries in the physical markets, coupled with positive global cues, led to the rise in aluminium prices.
Bain & Company's India Private Equity Report 2019, Released
/ -- - PRIVATE EQUITY FUNDS RECORDED INVESTMENTS WORTH $ 26.3 BILLION IN 2018, SECOND HIGHEST IN THE LAST DECADE - Bain & Company's latest India Private Equity Report finds 2018 was an excellent year with 265 exits valued at nearly $33 billion and fund raising worth $714 billion, the third-largest amount on record The private equity market in India remained a hotbed for deal-making in 2018 with a total of $26.3 billion in investments across 793 deals, which was the second highest in the last decade in total investment value, according to Bain & Company's '2019 India Private Equity Report', released today in partnership with Indian Private Equity & Venture Capital Association (IVCA). Private equity funds are also increasingly prioritizing deal quality over quantity, with the top 15 deals comprising about 40 percent of total deal value and the number of deals greater than $50 million, increasing from the previous year. The market for exits remained strong as well, with 265 .
Power Grid Corporation of India Ltd slips for fifth straight session
Power Grid Corporation of India Ltd is quoting at Rs 181.65, down 0.55% on the day as on 13:24 IST on the NSE. The stock tumbled 15.06% in last one year as compared to a 3.4% rally in NIFTY and a 8.86% spurt in the Nifty Energy index.
Sensex, Nifty hit intraday high
Key benchmark indices reversed losses to hit intraday high in afternoon trade as European stocks opened higher. At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 143.77 points or 0.39% at 37,234.59. The Nifty 50 index was up 44.05 points or 0.4% at 11,192.25.
Silver futures fall 0.1 pc to Rs 37,613 per kg
Amid profit-booking by participants and weak domestic cues, silver prices dropped 0.1 per cent to Rs 37,613 per kg in futures trade Tuesday. On the Multi Commodity Exchange, silver for delivery in July contracts fell Rs 37, or 0.1 per cent, to Rs 37,613 per kg in a business turnover of 21,708 lots. Traders said off-loading of positions by participants to book profits and a tepid domestic trend led to the fall in silver prices in futures trade. Globally, however, silver rose 0.19 per cent to USD 14.81 an ounce in New York.
Zinc futures marginally up on upbeat cues
Zinc prices inched up 0.16 per cent to Rs 213 per kg in futures market Tuesday as traders created fresh positions following upsurge in demand at the spot market. On the Multi Commodity Exchange, zinc to be delivered in May contracts was trading higher by 35 paise, or 0.16 per cent, to trade at Rs 213 per kg in a business turnover of 4,955 lots. Market attributed the rise in zinc futures to a pick-up in demand from consuming industries at the spot market amid a firm trend in base metals in global market.
Crude oil slips 0.02 pc on subdued domestic cues
Crude oil prices Tuesday fell 0.02 per cent to Rs 4,311 per barrel as speculators indulged in reducing holdings despite a steady trend overseas. In futures trading on the Multi Commodity Exchange, crude for delivery in May contracted fell by Re 1, or 0.02 per cent, to Rs 4,311 per barrel in a business volume of 18728 lots. Analysts said continuous off-loading of holdings by participants in line with a weakening trend in domestic markets, mainly weighed on crude oil prices at futures trade here. The oil for delivery in June contracts also lost Rs 17, or 0.39 per cent, to Rs 4,323 per barrel in 2,189 lots. The prices in the global markets, however, rose after supply assurance from Saudi Arabia amid US-Iran tensions, say analysts. The West Texas Intermediate (WTI) crude was trading up 0.08 per cent to USD 61.09, while Brent crude, the international benchmark, rose 0.24 per cent to USD 70.40 a barrel on the New York Mercantile Exchange.
Gold futures fall 0.43 pc on weak cues
Taking weak cues from global markets, gold prices fell 0.43 per cent in futures trade Tuesday as speculators engaged in reducing their holdings. In futures trading on the Multi Commodity Exchange, gold for delivery in June contracts was trading lower by Rs 140, or 0.43 per cent, to Rs 32,358 per 10 gram in a business turnover of 9,784 lots. Similarly, the August contract of gold fell by Rs 162, or 0.5 per cent, to Rs 32,538 per 10 gram in a business volume of 8,002 lots. Reports say the continuing trade dispute between the US and China dented on investor sentiments. Analysts said off-loading of positions by participants, tracking a weak trend overseas, led to the fall in gold prices at futures trade here. Gold prices fell 0.28 per cent to USD 1,298.20 an ounce in New York.
Schenker India set to double warehousing capacity by 2022
Integrated logistics services provider Schenker India Tuesday said it plans to strengthen its local footprint and is set to double the warehousing capacity by 2022. Schenker India is a subsidiary of DB Schenker, the transport and logistics division of the 40.4 billion-euro Deutsche Bahn Group, as per a company statement. The company plans to double its warehousing capacity, from the current 3.5 million sq ft spread across 53 warehouse locations and enhance efficiencies through technology deployment for faster processing and real time updates across the value chain, it said. "India is a priority market for DB Schenker globally and with the growth spurt triggered by the implementation of GST, we are well poised to increase capacity and expand aggressively to better serve our customers. "We are looking to double our warehousing capacity from the current 3.5 million sq ft," Schenker India CEO Vishal Sharma said. Schenker India offers a complete range of international air and ocean ...
India's April wholesale inflation eases to 3.07%
Lower prices of manufactured items and key transportation fuels eased India's annual rate of inflation based on wholesale prices to 3.07 per cent in April from 3.18 per cent in March, official data showed on Tuesday.
WPI inflation slips to 3.07 pc in April from 3.18 pc in March
The annual rate of inflation based on wholesale price index stood at 3.07 per cent in April compared to 3.18 per cent in March, the government said on Tuesday.It was 3.62 per cent in April last year, according to a statement released by the Ministry of Commerce and Industry.The official wholesale price index for all commodities (base: 2011-12=100) for April 2019 rose by 0.8 per cent to 120.9.Build up inflation rate in the financial year so far was 0.75 per cent compared to a build-up rate of 0.86 per cent in the corresponding period of previous year.The index for primary articles group (with weightage of 22.6 per cent) rose by 3.3 per cent to 139.2 from 134.7 for March.Under this, the index for food articles group rose by 3.4 per cent due to higher price of tea by 15 per cent, fruits and vegetables by 14 per cent, peas and chawali by 6 per cent, maize by 5 per cent, poultry chicken by 4 per cent, arhar, bajra and pork by 3 per cent each), gram, condiments and spices by 2 per cent ...
Kochhars appear before ED again in Videocon case
Former ICICI Bank MD and CEO Chanda Kochhar and her husband Deepak Kochhar on Tuesday appeared before the Enforcement Directorate for questioning in connection with its ongoing investigation into Rs 1,875-crore Videocon loan case.
Deepika Padukone invests in yogurt brand Epigamia
Bollywood actress Deepika Padukone has made an investment in Drum Foods International Pvt Ltd, the maker of flavoured yogurt brand Epigamia, as part of a strategic partnership that will also see her endorse the brand. The investment will be used by the firm to expand into new products and enter new cities, the company said in a press statement. "This investment is an extension of the recently closed Series C round of funding led by Verlinvest, a Belgium-based consumer-focused investment firm, Danone Manifesto Ventures, the venture investment arm of one of the world's leading food and beverage companies, and DSG Consumer Partners, an Asia focused VC fund," the statement said. Launched in June 2015, Epigamia is currently available in 20 stock keeping units (SKUs) under greek yogurt, artisanal curd, snack pack, mishti doi and smoothies. The flavoured yogurt brand retails in about 10,000 touch points and aims to scale up to 50,000 outlets in a few years. Rohan Mirchandani, Co-Founder, ...
Rank Me Online is transforming businesses to customer-centric brands
Rank Me Online recently announced the launch of "Review Analyzer", an artificial intelligence-driven tool. Through Review Analyzer, brands get actionable insights so that the brands can directly use the data to power their strategy.For example, a person reviews a cafe online as "The coffee was good but the service was bad". Review Analyzer shows that Coffee is termed as positive and service is termed as negative. Now the cafe can directly use this information to start promoting its coffee and internally work on improving its service to the customers."There is no doubt in saying that customers are the heart of any business. Just like every human being's first priority is to be healthy, the first priority of any business is to keep their customers happy," said Jyoti Gupta, Founder of Rank Me Online.Today's businesses are hungry for data about their customers, their competitors, and their target audience so that they can do business the way their customers want them to. More and more ...
Transwarranty Finance Ltd leads gainers in 'B' group
Shyam Century Ferrous Ltd, Motor & General Finance Ltd, CIL Nova Petrochemicals Ltd and Zenith Exports Ltd are among the other gainers in the BSE's 'B' group today, 14 May 2019.