Page 3738 - Business Finance
Infibeam Incorporation Ltd is up for a fifth straight session in a row
The stock is quoting at Rs 172.3, up 1.06% on the day as on 12:54 IST on the NSE. Infibeam Incorporation Ltd is up 77.37% in last one year as compared to a 10.85% spurt in NIFTY and a 28.85% spurt in the Nifty IT.
Indiabulls Housing Finance Ltd is up for a fifth straight session today
The stock is quoting at Rs 1246.1, up 1.33% on the day as on 12:54 IST on the NSE. Indiabulls Housing Finance Ltd is up 8.82% in last one year as compared to a 10.85% jump in NIFTY and a 15.79% jump in the Nifty Financial Services.
GAIL (India) Ltd is up for a fifth straight session in a row
The stock is quoting at Rs 349.15, up 1.78% on the day as on 12:54 IST on the NSE. GAIL (India) Ltd is up 13.45% in last one year as compared to a 10.85% spurt in NIFTY and a 14.5% spurt in the Nifty Energy.
IIFL AMC launches AIF to focus on professional entrepreneurship
IIFL Asset Management today announced the launch of an alternative investment fund (AIF) that will focus on backing professional entrepreneurship. The company is aiming to raise around Rs 1,200-1,500 crore through the new fund- IIFL India Private Equity Fund - a close-ended Sebi-registered Category II AIF. The fund is designed to back professionals with a strong execution track record and provide capital to such professional entrepreneurs both at seed and growth stage, IIFL AMC said in a statement. It will target experienced professionals who have hunger to create something big by leveraging their experience and networks, it said. "Historically, the available pool of capital was mostly foreign private equity capital. IIFL India Private Equity Fund is perhaps one of the first home-grown funds to back Indian professionals who have entrepreneurial aspirations," CEO Amit Shah said. The asset management company said the new fund will focus on professional entrepreneurs who are ready to ...
Oil prices ease after sharp gains; eyes on OPEC supply moves
SINGAPORE (Reuters) - Oil prices eased slightly on Thursday following a rally in the previous session, as investors eyed a surprise increase in U.S. crude oil inventories and looked to a possible rise in output when OPEC and other producers meet in June.
Gold prices rise on weaker dollar, trade tension
BENGALURU (Reuters) - Gold prices rose on Thursday, as the dollar eased from 6-1/2-month highs hit earlier this week, with prices further supported by concerns over U.S.-China trade.
Normal monsoon predictions, better GDP hopes lift equity indices
Predictions of normal southwest monsoon rains, and expectations of a improved gross domestic product data due later in the day pushed the key Indian equity indices higher on Thursday afternoon.
ONGC shares gain nearly 4% after Q4 results
Shares of Oil and Natural Gas Corp (ONGC) today rose by nearly 4 per cent after the company reported its highest profit in 17 quarters. The stock, after a positive opening, further jumped 3.50 per cent to Rs 180.05 as the trade progressed on BSE. On NSE, shares of the company went up by 3.64 per cent to Rs 180.35. State-owned ONGC's net profit in three-months to March 31, 2018, jumped 37 per cent on back of higher oil prices. Net profit in the fourth quarter of 2017-18 at Rs 5,915.12 crore, or Rs 4.61 a share, was higher than Rs 4,340.18 crore net in the same period of the previous fiscal, the company said in a statement yesterday. The board of directors of ONGC recommended a final dividend of Rs 1.35 per share (27 per cent). This is in addition to the interim dividend of Rs 5.25 per share declared in two phases previously.
Eastman Auto and Power Limited on a nationwide mission to spread awareness about e-Rickshaw batteries
Eastman Auto and Power Limited (EAPL), a leading company in energy storage and solar solutions, has embarked on a nationwide campaign to sensitize common populace about the benefits of e-rickshaw batteries.Conceptualized with the objective of creating awareness about the usage and maintenance of e-rickshaw batteries, the campaign was initiated in West Bengal in the first phase. In the second phase, the company is targeting to sensitize thousands of people across Uttar Pradesh and Haryana.The intention of this campaign is to educate and empower the e-rickshaw sellers, battery sellers, spare part sellers and E Rickshaw owners so that they benefit in their day-to-day business.The campaign is titled as 'Mobility Sales and Service Partner (MSSP) program'. It makes attendees aware of the technical know-how in handling an e-rickshaw battery, maintaining battery health and taking preventive actions to prolong battery life and performance. Under this campaign EAPL is providing the requisite ...
SAIL declares Rs. 816 Crore Net Profit for Q4 FY18
All the five integrated steel plants of the Company have also recorded individual profits in Q4 FY18. SAIL management's sustained efforts for process integration starting from production till reaching the customers, the intensive marketing efforts along with ramping up of production and stabilization of new mills are all yielding results and a novel end-to-end approach with its new product offerings is helping the Company achieve a stronger position.
Pharma stocks decline
Key benchmark indices hovered near day's high in early afternoon trade. At 12:24 IST, the barometer index, the S&P BSE Sensex, was up 143.19 points or 0.41% at 35,049.30. The Nifty 50 index was up 43.30 points or 0.41% at 10,657.65. The Sensex was currently trading above the psychological 35,000 level after moving above and below that level in intraday trade. Pharma shares declined. Positive Asian stocks boosted sentiment.
Amazon blocks Australia from global sites over tax
US internet giant Amazon will block Australian shoppers from its international websites to counter new tax laws on online purchases, it announced today. New rules require internet retailers like the American behemoth to collect a 10 percent goods and services tax on everything bought from overseas sites from July 1, including under the current tax-free threshold of Austrian dollars 1,000 (USD 760). As a result, Amazon said Australian shoppers wanting to use its global platforms will instead be directed to its smaller Australian site, which offers much less for sale. Amazon reportedly baulked at the massive administrative burden of tracking GST from all overseas transactions. "While we regret any inconvenience this may cause customers, we have had to assess the workability of the legislation as a global business with multiple international sites," it said in a statement. The retailer said it would compensate by opening a "global store" for Australians, adding an extra four million ...
3P Land Holdings Ltd leads gainers in 'B' group
Punj Lloyd Ltd, Kesar Terminals & Infrastructure Ltd, Sree Rayalaseema Hi-Strength Hypo Ltd and BGR Energy Systems Ltd are among the other gainers in the BSE's 'B' group today, 31 May 2018.
European shares to end 2018 just above January peak: Reuters poll
LONDON/MILAN (Reuters) - European shares will end 2018 just ahead of their January peak, recovering from current levels as a resilient economy gradually overcomes a temporary slowdown and corporate earnings continue to rise, a Reuters poll showed.
Reliance Communications Ltd leads gainers in 'A' group
GE T&D India Ltd, Sundram Fasteners Ltd, Reliance Naval & Engineering Ltd and Bombay Burmah Trading Corporation Ltd are among the other gainers in the BSE's 'A' group today, 31 May 2018.
Soybean futures remain down on weak global cues
Soybean prices fell by another Rs 42 to Rs 3,557 per quintal in futures trade today on renewed selling by speculators in tune with weak cues from domestic spot as well as overseas markets. Market players attributed the persistent fall in soybean prices in futures market to ample stock position in the spot markets on steady inflow of supplies against reduced demand and weak trend overseas. Besides, reports of normal monsoon and expectations of improved sowing too weighed on soybean prices, they quoted. At the National Commodity and Derivatives Exchange, soybean to be delivered in July contracts fell by Rs 42, or 1.17 per cent, to Rs 3,557 per quintal with an open interest of 76,340 lots. Soybean for the delivery in June contracts also declined by Rs 39, or 1.09 per cent, to Rs 3,532 per quintal with a business turnover of 1,20,690 open lots.
Mustard seed futures decline on muted spot demand
Mustard seed prices drifted lower by Rs 22 to Rs 3,921 per quintal in futures trading today as speculators cut down their holdings, driven by a weak trend at the spot markets on slackened demand. At the National Commodity and Derivatives Exchange, mustard seed for delivery in July slipped by Rs 22, or 0.56 per cent, to Rs 3,921 per quintal, clocking an open interest of 76,910 lots. Similarly, the most-traded delivery in June receded by Rs 20, or 0.51 per cent, to Rs 3,879 per quintal with a business turnover of 88,690 lots. Marketmen said comfortable position of stocks on relentless supplies from growing areas amid slackness in demand from mills in the spot markets, led to the fall in mustard seed futures.
Sensex up 123 pts, Nifty above 10,600 in late morning trade
The BSE Sensex pared its initial gains but was still trading higher by 123 points in late morning deals amid buying in energy, telecom, IT, finance and consumer durables sectors on the back of higher Asian cues. Bouts of short-covering lifted the key indices in view May derivatives expiry today, while investors awaited GDP data to be released later in the day. Healthcare, metal, power and industrial counters witnessed profit-booking. The 30-share index was trading higher at 35,029.53, showing a gain of 123.42 points, or 0.35 per cent at 1055 hrs. The broader Nifty-50 index too was trading above the key 10,600-level at 10,649.50, up 35.15 points, or 0.33 percent. Major gainers were ONGC 3.16 per cent, HDFC Bank 2.10 per cent, Infosys 1.16 per cent, M&M 1.05 per cent and Coal India 0.94 per cent. Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 1,286.91 crore on net basis, while domestic institutional investors (DIIs) bought equities to the tune of Rs 492.46 crore .
Jeera futures fall 1.71 pc on profit-booking
Jeera prices fell 1.71 per cent to Rs 16,055 per quintal in futures trade today as speculators trimmed their positions to book profits amid lower domestic and export demand at the spot market. Ample stocks position following higher supplies from the producing belts too fuelled the downtrend. At the National Commodity and Derivatives Exchange, jeera for delivery in June contract fell Rs 280, or 1.71 per cent, to Rs 16,055 per quintal, with an open interest of 4,470 lots. Similarly, the spice for delivery in far-month July contract moved down by Rs 265, or 1.62 per cent, to Rs 16,025 per quintal in 2,505 lots. Analysts said besides profit-booking by speculators at existing levels, fall in demand at the spot market against adequate stocks position weighed on jeera futures.
Sensex, Nifty rise ahead of GDP data
(Reuters) - Indian shares advanced on Thursday as Asian markets rebounded after worries about a political crisis in Italy waned, while expectations that the domestic economy likely gained momentum in the first three months of 2018 buoyed investor sentiment.