Page 3720 - Business Finance
Mustard seed futures resume higher on short covering
Mustard seed prices recovered by Rs 7 to Rs 3,965 per quintal in futures trade today after participants created fresh positions at prevailing levels, tracking a firm trend at the physical markets. Marketmen said building up fresh positions following a positive trend at the spot markets on rising demand from oil mills amid a pause in supplies, mainly influenced mustard seed prices at futures market. At the National Commodity and Derivatives Exchange, mustard seed for July contracts increased by Rs 7 or 0.18 per cent to Rs 3,965 per quintal, having an open interest of 80,980 lots. Also, the contracts for this month gained Rs 6 or 0.15 per cent to Rs 3,921 per quintal, depicting an open interest of 83,120 lots.
GET MY PARKING partners with APCOA parking to revolutionize parking in 13 countries
APCOA PARKING, Europe's leading parking operator, has partnered with GET MY PARKING, India's Smart parking startup, to customize and deploy an open IoT technology that integrates parking equipment onto a standard, interoperable platform.This digital platform will be scaled to all 13 countries in which APCOA operates more than 1.4 million car spaces at over 9000 locations. This enables APCOA to provide the latest consumer solutions such as their recently launched mobile app APCOA FLOW (www.apcoa.de/flow), which includes ticketless automated access & cashless exit. It will soon be enhanced by pre-booking options and on-street parking payment functions."This strategic partnership enables us to develop our digital platform and new products very quickly and cost-effectively. We are therefore in a position to offer our customers additional value: The GMP technology works with existing barrier technologies in older car parks, eliminating the need to purchase a new parking system. And the
HDFC Bank recognized for best practices in payment security at visa summit
HDFC Bank has once again been recognized with the Champion Security Award at the 14th Visa Asia Pacific Security Summit. For the second time in a row, the bank has won the award in the India and South Asia category. The Award is a mark of excellence reflecting leadership in risk management and payment security performance."Congratulations to HDFC Bank on receiving their Visa champion security award. HDFC Bank has reliably exhibited a high level of risk management proficiency, which has constantly created a safe payment environment for consumers and merchants in India & South Asia. The award recognizes banks who apply international best practices to every aspect of keeping electronic transactions secure," Shivakumar Sriraman, Chief Risk Officer-India & South Asia, Visa, said."The Champion Security Award by Visa is a testament of HDFC Bank's unremitting focus on risk management and creating a secured payment mechanism for customers. As more and more customers take to using ...
Bajaj Auto Ltd leads gainers in 'A' group
Firstsource Solutions Ltd, Blue Dart Express Ltd, KPIT Technologies Ltd and Navin Fluorine International Limited are among the other gainers in the BSE's 'A' group today, 01 June 2018.
Global trade friction puts Asian factories, export recovery at risk
BEIJING (Reuters) - Factory growth in Asia's major manufacturing hubs showed signs of cooling last month as they braced for a rocky ride from rising global trade tensions, while the region's key emerging markets grappled with accelerating inflation and a strong dollar.
Copper futures soften on global cues, muted demand
Copper prices moved down by 0.28 per cent to Rs 460.85 per kg in futures trading today as speculators trimmed positions amid weak global cues. Besides, sluggish demand from consuming industries at the domestic spot markets fuelled the downtrend. At the Multi Commodity Exchange, copper for delivery in July fell by Rs 1.30, or 0.28 per cent to Rs 460.85 per kg in a business turnover of 13 lots. Likewise, the metal for delivery in June declined by Rs 1.20, or 0.26 per cent to Rs 455.85 per kg in 718 lots. Analysts said cutting down of positions by traders in line with a weak trend overseas, weighed on copper prices at futures trade. Globally, copper for three-month delivery fell 0.2 per cent to USD 6,840.00 per metric tonne on the London Metal Exchange.
Nickel futures soften on low demand
Tracking a weak trend at the domestic spot markets due to tepid demand, nickel prices traded lower by 0.15 per cent to Rs 1,030.60 per kg in futures trade today as participants cut down their bets. At the Multi Commodity Exchange, nickel for delivery in June fell by Rs 1.50, or 0.15 per cent, to Rs 1,030.60 per kg, in a business turnover of 1,242 lots. Likewise, the metal for delivery in July traded lower by 60 paise, or 0.06 per cent, to Rs 1,035.50 per kg in 11 lots. Analysts attributed the slide in nickel futures to a weak trend at the physical markets due to fall in demand from alloy makers.
Chanda Kochhar not asked to go on leave: ICICI Bank
ICICI Bank Ltd today denied reports that its chief executive Chanda Kochhar has been asked to go on leave until an independent board enquiry into allegations raised by an anonymous whistleblower is completed. India's second largest private sector bank also said no search committee has been formed to find her successor. "The ICICI Bank Board denies having asked Ms Chanda Kochhar to go on leave. She is on her annual leave which was planned in advance," the bank said in a statement. "Further, the Board denies that it has appointed any search committee to find her successor." The clarification came days after the board of ICICI Bank instituted an independent enquiry into allegations 'conflict of interest' and 'quid pro quo' in Kochhar's dealing with certain borrowers. The bank had in March said the board has "full confidence and reposes full faith" in Kochhar.
Cottonseed oil cake futures remain higher
Cottonseed oil cake prices were up by Rs 8 to Rs 1,343 per quintal in futures trade today as traders indulged in expanding positions, taking positive cues from spot markets on strong demand. At the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in current month gained Rs 8 or 0.60 per cent to Rs 1,343 per quintal, in an open interest of 1,30,610 lots. Cottonseed oil cake for delivery in July contracts also edged up by Rs 6 or 0.44 per cent to Rs 1,365.50 per quintal, in a business turnover of 86,520 open lots. Marketmen said widening of bets by participants, taking positive cues from the physical markets on strong demand from animal feed makers amid the shortage of stocks at spot markets, kept cottonseed oil cake prices higher at futures trade here.
Samsonite CEO makes hasty exit after short-seller attack, shares surge
SHANGHAI/HONG KONG (Reuters) - Samsonite International SA said CEO Ramesh Tainwala had stepped down, leaving less than week after a short-seller attacked accounting practices that involved entities owned by his family and accused him of resume padding.
ICICI Bank says CEO Kochhar on planned leave
(Reuters) - ICICI Bank Ltd said on Friday Chief Executive Officer Chanda Kochhar is on planned annual leave and denied a media report that she was asked to go on leave until an independent board enquiry is concluded.
Stocks move in a narrow range
Key benchmark indices turned range-bound in mid-morning trade amid divergent trend in index pivotals. At 11:15 IST, the barometer index, the S&P BSE Sensex, was up 57 points or 0.16% at 35,379.38. The Nifty 50 index was up 7.95 points or 0.07% at 10,744.10. Most power generation stocks fell. Good GDP data announced by the government boosted market sentiment.
Castor seed futures up on physical cues
Castor seed prices improved by Rs 15 to Rs 3,935 per quintal in futures trade today following raising of bets by speculators, driven by a firming trend at the physical markets Marketmen said widening of holdings by participants in tune with rising prices at the spot markets due to restricted supplies and pick-up in demand from consuming paint, soap and lubricant industries, supported the upside in castor seed prices at futures trade. At the National Commodity and Derivatives Exchange, castor seed for delivery this month was up by Rs 15 or 0.38 per cent to Rs 3,935 per quintal, with an open interest of 56,020 lots. In a similar way, the delivery of the most-traded delivery in July went up by similar margin to Rs 3,989 per quintal, in an open interest of 59,970 lots.
Maruti Suzuki moves up on good May sales
Maruti Suzuki India rose 2.37% to Rs 8737.05 at 11:24 IST on BSE after the company said that its total sales rose 26% to 1.72 lakh units in May 2018 over May 2017.
Refined soya oil futures extend losses on ample stocks
Refined soya oil prices fell by another 0.40 per cent to Rs 773.30 per 10 kg in futures market today as speculators trimmed their holdings amid ample stocks position on higher supplies at the spot market. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July month fell by Rs 3.10, or 0.40 per cent to Rs 773.30 per 10 kg with an open interest of 27,650 lots. In similar fashion, the oil for delivery in June contract was trading lower by Rs 2.95, or 0.38 per cent to Rs 763.50 per 10 kg in 56,880 lots. Traders said offloading of positions by participants following adequate stocks position on increased arrivals from producing belts in the physical markets against muted demand kept refined soya oil prices down at futures trade.
Maruti Suzuki's May sales up 26 pc at 1,72,512 units
The country's largest car maker Maruti Suzuki India (MSI) today reported a 26 per cent increase in total sales at 1,72,512 units in May as against 1,36,962 units in the year-ago month. The firm's domestic sales stood at 1,63,200 units, up 24.9 per cent from 1,30,676 units in May last year, MSI said in a statement. Sales of mini segment cars, including Alto and WagonR, witnessed a 3.1 per cent decline at 37,864 units from 39,089 units in May 2017, MSI said. The auto major further said sales of the compact segment comprising Swift, Estilo, Dzire and Baleno jumped by 50.8 per cent to 77,263 units last month as against 51,234 units earlier. Sales of mid-sized sedan Ciaz declined by 14.8 per cent to 4,024 units during the month. Sales of utility vehicles, including Ertiga, S-Cross and compact SUV Vitara Brezza, increased by 13.4 per cent to 25,629 units in May, from 22,608 units in the same month of 2017. Sales of vans -- Omni and Eeco -- increased by 32.7 per cent to 16,717 units last ...
Toshiba completes $18 billion sale of chip unit to Bain consortium
TOKYO (Reuters) - Japan's Toshiba Corp said on Friday it had completed the $18 billion sale of its chip unit to a consortium led by U.S. private equity firm Bain Capital.
Subhash Chandra slams UK over illogical investment deadlock
Indian media tycoon Subhash Chandra has slammed the UK's investment policies which are blocking his plans for a multi-billion-pound investment to create a world-class visitor attraction celebrating Indian culture and history in east London. Chandra's Essel Group had unveiled plans to redevelop a 62-acre brownfield site in east London's Royal Docks area known as Silvertown Quays last month. A proposal was submitted to the Greater London Authority (GLA) to purchase the land from the current developers, The Silvertown Partnership (TSP), a consortium consisting of Chelsfield Properties, First Base and Macquarie Capital. But it has now emerged that the proposal was not formally tabled before the Mayor of London, Sadiq Khan, because both sides are in a procedural deadlock. "The challenges that Essel Group has encountered in bringing this investment to London have come as a surprise to me," said Chandra, chairman of the Essel Group. He revealed that Sir Stuart Lipton, of Chelsfield ...
Housing sector vital for achieving double-digit growth: Rashesh Shah
Mr. Shah said that there is a demand-supply gap of 20 million in the housing sector. "It will take around 8-10 years to fill the demand-supply gap in the housing sector," he added.