Page 369 - Business Finance
Engineers India advances on signing contract
Engineers India rose 1.3% to Rs 105.25 at 09:48 IST on BSE after the company signed a contract for construction of a crude oil refinery plant in Mongolia.
Rupee opens marginally higher in early trade
The rupee recovered marginally and opened 9 paise higher at 70.43 against the US dollar Tuesday amid weak global cues and foreign fund outflows. The rupee opened at 70.43 at the interbank forex market, displaying gains of 9 paise over its last close. The rupee Monday fell sharply by 59 paise to close at nearly two-and-a-half-month-low of 70.51 against the US currency. Forex dealers said, foreign fund outflows, rising crude prices and US-China trade related concerns weighed on the domestic currency. Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 1,056.01 crore on a net basis Monday, as per provisional data. Brent crude futures, the global oil benchmark, rose 0.34 per cent to USD 70.47 per barrel. Meanwhile, the benchmark BSE Sensex opened on a cautious note at 37,035.44, down by 55.38 points; while the NSE Nifty was trading at 11,132.20, lower by 16 points. On the global front, US President Donald Trump remained adamant on his policy .
Graphite India Ltd Falls 3.46%
Graphite India Ltd has lost 26.78% over last one month compared to 6.62% fall in S&P BSE Capital Goods index and 4.38% drop in the SENSEX
Aarti Industries gains as board may consider bonus proposal
Aarti Industries rose 0.79% to Rs 1,562 at 09:19 IST on BSE after the company said its board of directors may consider a proposal pertaining to issue of bonus shares on 21 May 2019.
Reliance Industries Ltd Spurts 0.58%
Reliance Industries Ltd has lost 7.75% over last one month compared to 6.17% fall in S&P BSE Energy index and 4.48% drop in the SENSEX
Jet Airways' deputy CEO and CFO Amit Agarwal quits
Grounded carrier Jet Airways' deputy chief executive and chief financial officer (CFO) Amit Agarwal has resigned, the airline said on Tuesday. Agarwal's resignation is effective from May 13, it said. "We wish to inform that Amit Agarwal, the deputy chief executive officer and CFO of the company, has resigned from service due to personal reasons, with effect from May 13," Jet Airways said in a regulatory filing. The airline seized operations temporarily around mid- April due to acute liquidity crisis. Most of the airline's board members have also quit in the last one month.
NASA dubs 2024 Moon mission 'Artemis,' asks for USD 1.6 billion
NASA's next mission to the Moon will be called Artemis, the US space agency has announced, though it's still looking for the money to make the journey happen by its accelerated 2024 deadline. In March, US President Donald Trump's administration moved the date for the next American lunar mission up by four years from its original goal of 2028 while pledging to get a female astronaut to the Moon's surface for the first time. NASA Administrator Jim Bridenstine told reporters on Monday the agency would need an additional USD 1.6 billion to pay for the new ground and space vehicles needed to meet the deadline. "This additional investment, I want to be clear, is a downpayment on NASA's efforts to land humans on the Moon by 2024," he said. Bridenstine said the mission was named Artemis after the Greek mythological goddess of the Moon and twin sister to Apollo, namesake of the program that sent 12 American astronauts to the Moon between 1969 and 1972. NASA's total annual budget is ...
Market slides in early trade
Key benchmark indices were trading lower in early trade. At 9:19 IST, the barometer index, the S&P BSE Sensex, was down 56.57 points or 0.15% at 37,034.25. The Nifty 50 index was down 2 points or 0.02% at 11,146.20. Global cues were weak as the trade war between the United States and China escalated.
'Miles to go before SDGs are achieved'
India had slipped considerably on the UN Millennium Development Goals (MDGs). For instance, in 2015 half the population suffered from hunger. And, three years into the SDGs 29 states have been able to achieve only 42-69 per cent of targets and the Union Territories 57-68 per cent. While Himachal Pradesh and Kerala were top performers (50-64 per cent), Uttar Pradesh and Dadra Nagar Haveli could achieve only 0-49 per cent of the SDGs.
Shares may extend recent losses
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 40.50 points at the opening bell due to ongoing weakness in global shares.
Godrej Industries may advance after strong Q4 outcome
Godrej Industries' consolidated net profit surged 108.33% to Rs 297.41 crore on 40.32% rise in total income to Rs 3,444.36 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 13 May 2019.
Will meet Xi Jinping face-to-face at G20: Trump
US President Donald Trump said that he will have a face-to-face meeting with his Chinese counterpart Xi Jinping at the G20 summit next month amid the latest escalation in trade tensions between the two countries.
'Step-change' in energy investment needed to meet climate goals: IEA
The world must double spending on renewable power and slash investment in oil and coal by 2030 to keep the Paris climate treaty temperature targets in play, the International Energy Agency (IEA) said Tuesday. For that to happen, however, trend lines on both fronts moved in the wrong direction last year, the agency reported in its 4th annual World Energy Investment overview. Money going into new upstream oil and gas projects -- exploration, drilling and infrastructure -- rose four per cent in 2018, while investment in new coal sources went up by two per cent, the first increase in that sector since 2012. At the same time, investment in new renewable power of all kinds dipped by about two per cent. In total, global energy investment in 2018 -- split across the fuel supply and electric power sectors -- totalled USD 1.85 trillion, about the same as in 2017, the IEA reported. This two-year plateau following three years of slow decline reflects uncertainty across the industry as to what the
Mercedes want to abandon combustion engines by 2039
German giant Mercedes-Benz said Monday it wants to stop selling traditional combustion engine cars by 2039 and plans for its new vehicles sold worldwide by that time to be carbon-neutral. "We aim to have a carbon-neutral new passenger car fleet in 20 years," said Ola Kallenius, current head of Mercedes research, who is to succeed Dieter Zetsche as chairman of the Daimler group next week. All Mercedes models will be electric or hybrids within two decades, a company spokesman said, but different approaches were possible. "Our current focus is on battery-electric mobility. But there's also room and need to continue to work on other solutions, for example, the fuel cell or eFuels," Kallenius said in a statement. "Today, no one knows for sure which drivetrain mix will best serve our customers' needs 20 years from now. "That's why we encourage policy makers to pave the way for tech neutrality: Let's fix the target, but not the means to achieve it." Daimler says synthetic fuels produced with
Essar Steel: SCB counsel Kapil Sibal challenges acceptance of bid amount
Arguing on behalf of Standard Chartered Bank, senior advocate Kapil Sibal on Monday challenged the acceptance of Rs 39,500 crore bid amount by the Committee of Creditors(CoC) of bankrupt Essar Steel.
Etihad puts riders for fund infusion, Jet revival an uphill task
Attaching too many riders for infusing funds into grounded Jet Airways, the Abu Dhabi-based Etihad has put the onus of reviving the airline on lenders led by State Bank of India (SBI).
UBI posts Rs 95.18 cr net profit in Q4
State-run United Bank of India (UBI) on Monday said it has posted a net profit of Rs 95.18 crore in the fourth quarter of the financial year 2018-19 (FY19), after seven quarters of consecutive losses.
Hero MotoCorp launches two new scooter models
New Delhi, May 13 (IANS ) Two-wheeler major Hero MotoCorp on Monday launched two new scooters - Maestro Edge 125 and Pleasure+ 110 a" for the domestic and international markets.
China announces tariff hikes on US goods worth $ 200 billion
China on Monday announced that it would raise tariffs on a range of US products, in retaliation to Washington's decision to ramp up the tariffs rate to 25 per cent on USD 200 billion worth of Chinese imports.Escalating the trade war between the two biggest economies, China's Ministry of Finance said that it will raise tariffs on USD 60 billion worth of US goods on June 1. The tariff would range from 5 per cent to 25 per cent, reported the Washington Post.The development has come hours after US President Donald Trump warned China to "not retaliate," arguing that the country has taken "advantage of the US for so many years."Trump wrote on his official Twitter handle, "There will be nobody left in China to do business with. Very bad for China, very good for USA! But China has taken so advantage of the U.S. for so many years, that they are way ahead (Our Presidents did not do the job). Therefore, China should not retaliate-will only get worse!"The US President went on to say: "I say ...
Traffic congestion, pollution, better jobs matter for Delhi voters: ADR
Traffic congestion, water & air pollution and better employment opportunities were the top three voters' priorities in urban areas of the national capital, claimed the Association for Democratic Reforms (ADR) survey on Monday.