Page 3870 - Business Finance
F-16 production can make India fighter jet export hub: Lockheed
Global aerospace giant Lockheed Martin today said its proposal to manufacture custom-built F-16 fighter jets in India will make the country an export hub and give it access to an estimated USD 165 billion fighter aircraft market over the next few decades. Eyeing India's lucrative defence market, the American aerospace major said F-16 production would place India at the centre of the world's largest fighter aircraft ecosystem, creating "unmatched" Make in India opportunities and export potential. Vivek Lall, vice president, Strategy and Business Development, Lockheed Martinthe said F-16 Block 70 being proposed to India will be the most technologically advanced and capable F-16 fighter jet ever produced. "F-16 exports could begin within five years of establishing production in India. Depending on when India makes its selection, more than 200 F-16s could be exported from India, Lall told PTI. The F-16 Block 70, he said, brings the most modern avionics, a proven Active Electronically ...
Rupee pares some losses, down 11 paise against dollar
The rupee pared its initial losses, trading 11 paise lower at 68.15 against the American currency in late morning deals on sustained dollar demand from importers and banks amid higher dollar overseas. Traders are awaiting the release of the minutes of the US Federal Reserve's early-May policy meeting later in the day. The rupee hit a fresh 16-month low of 68.15 in morning trade as against yesterday's closing level of 68.04 per dollar at the inter-bank foreign exchange here. It slid further to 68.29 at 1030 hrs. The domestic unit hovered between 68.29 and 68.15 during morning deals. Continued foreign capital outflows and lower local equities also added to rupee volatility, dealer said. Meanwhile, the US dollar were higher versus a basket of currencies in early Asian trade, with investors awaiting the minutes of the US Federal Reserve's last policy meeting for hints on the pace of further US monetary tightening. The 30-share BSE Sensex lower by 67.67 points, or 0.20 per cent, at ...
Yes Bank recovers Rs 184 crore from sale of Bhushan Steel to Tata Steel
Against claims of Rs 325 crore
Board of Peria Karamalai Tea& Produce Company recommends final dividend
Of Rs 0.75 per share
Volumes jump at Gujarat State Petronet Ltd counter
Gujarat State Petronet Ltd saw volume of 5.06 lakh shares by 10:54 IST on BSE, a 14.05 fold spurt over two-week average daily volume of 36031 shares
Nickel futures fall 1.11% on weak spot cues
Nickel prices dipped by 1.11 per cent to Rs 994.30 per kg in futures market today as speculators cut down their positions, taking negative cues from spot market on muted demand from consuming industries. At the Multi Commodity Exchange, nickel for delivery in May fell by Rs 11.20, or 1.11 per cent to Rs 994.30 per kg in business turnover of 1,995 lots. Likewise, the metal for delivery in June was trading lower by Rs 11, or 1.09 per cent to Rs 998.70 per kg in 82 lots. Market analysts said offloading of positions by participants following fall in demand from alloy-makers in the physical markets influenced nickel prices at futures trade.
Crude oil slips 0.32% on negative global cues
Crude oil futures slipped by 0.32 per cent to Rs 4,920 per barrel in futures trading today largely in tandem with a weak trend overseas. At the Multi Commodity Exchange, crude oil for delivery in July fell by Rs 16, or 0.32 per cent to Rs 4,920 per barrel in business turnover of 77 lots. Likewise, the oil for delivery in June shed Rs 13, or 0.26 per cent to Rs 4,916 per barrel in 3,487 lots. Analysts said the fall in crude oil futures was mostly in tune with a weak trend in the global markets where oil prices edged lower with the possibility of higher OPEC output weighing on the market, although geopolitical risks are expected to keep prices near multi-year highs. Meanwhile, West Texas Intermediate was down 28 cents, or 0.39 per cent at USD 71.92 a barrel, while global benchmark Brent was down 51 cents, or 0.64 per cent at USD 79.06 a barrel.
Muted demand drags down lead futures by 0.44%
Lead prices drifted down by 0.44 per cent to Rs 168.20 per kg in futures trading today as speculators trimmed their positions, taking negative cues from the spot market on tepid demand. At the Multi Commodity Exchange, lead for delivery in June fell by 75 paise, or 0.44 per cent to Rs 168.20 per kg in business turnover of 18 lots. Likewise, the metal for delivery in May was trading lower by 70 paise, or 0.42 per cent to Rs 167.35 per kg in 446 lots. Analysts said cutting down of positions by traders owing to slackened demand from battery-makers in the physical markets, mainly influenced lead prices at futures trade.
Robust spot demand lifts aluminium by 0.32%
Aluminium prices went up by 0.32 per cent to Rs 154.55 per kg in futures trading today as speculators created fresh positions, taking positive cues from spot market on pick up in demand. At the Multi Commodity Exchange, aluminium for delivery in May edged up by 50 paise, or 0.32 per cent to Rs 154.55 per kg in business turnover of 340 lots. Likewise, the metal for delivery in June was enquiring higher by 40 paise, or 0.26 per cent to Rs 155.65 per kg in 113 lots. Analysts said fresh positions by participants after upsurge in demand from consuming industries in the physical market mainly led to the rise in aluminium prices at futures trade.
Gravita India advances after signing contract
Gravita India rose 3.33% to Rs 169.10 at 10:35 IST on BSE after the company signed a contract with Amara Raja Batteries for lead acid battery scrap collection and recycling arrangements.
Norway's wealth fund voted in favour of Shell CEO pay, against climate targets
OSLO (Reuters) - Norway's $1 trillion sovereign wealth fund, the world's largest, voted against a motion presented at the annual general meeting of Royal Dutch Shell calling on the energy giant to set climate targets.
Copper futures slip 0.08% on global cues
Copper prices declined by 0.08 per cent to Rs 471.60 per kg in futures trade today as speculators reduced their positions amid weak trend overseas. At the Multi Commodity Exchange, copper for delivery in June declined by 40 paise, or 0.08 per cent to Rs 471.60 per kg in business turnover of 484 lots. Similarly, the metal for delivery in far-month August shed 35 paise, or 0.07 per cent to Rs 476.55 per kg in 8 lots. Analysts attributed the fall in copper prices at futures trade to a weak overseas trend where the metal edged lower, pulling back from the previous session's nearly one-month peak, after U.S. President Donald Trump said he was not pleased with recent trade talks between the United States and China. Globally, copper for delivery in three-month was down 0.5 per cent at USD 6,944 a tonne on the London Metal Exchange, after peaking at USD 6,999 on Tuesday, its loftiest since April 26.
Zinc gains 0.41% as speculators create fresh position
Zinc prices edged higher by 0.41 per cent to Rs 208.25 per kg in the futures market today as participants built up fresh positions due to pick up in demand at the spot markets. At the Multi Commodity Exchange, zinc for delivery in May edged up by 85 paise, or 0.41 per cent to Rs 208.25 per kg in business turnover of 919 lots. On similar lines, the metal for delivery in June was trading higher by 75 paise, or 0.36 per cent to Rs 208.95 per kg in 26 lots. Analysts said fresh positions created by traders backed by uptick in demand from consuming industries at the physical markets led to the rise in zinc prices.
9,739 vacancies for RPF, RSPF in Railways
Ministry of Railways on Tuesday invited online applications for recruitment to 9, 739 posts in the Railway Protection Force/Railway Protection Special Force.According to a press statement issued by the Railways, of the total posts, 8,619 are for the rank of constables (4403 Male and 4216 Female), while 1,120 are for sub-inspectors (819 Male and 301 Female).Candidates applying for the post of constable must be Class-X passed and fall in the 18-25 years age group, while those applying for the sub-inspector post must be graduates and in the 20-25 years age group.The online application forms will be available from June 1 to June 30.
Petrol price can be cut by Rs 25 per litre: Chidambaram
Congress leader and former Union Finance Minister P. Chidambaram on Wednesday criticised the Centre for the fuel price hike and claimed that the rate can be reduced by Rs 25 per litre but the government is not doing it.
Ballarpur Industries' Q4 net loss narrows to Rs 145.82 cr
Avantha group firm Ballarpur Industries' consolidated net loss narrowed to Rs 145.82 crore for the quarter ended March 31, 2018, on the account of higher income. The company, which makes writing and printing paper, had posted a net loss of Rs 243.37 crore in the same period previous fiscal. Total income from operations stood at Rs 224.09 crore in the quarter under review. It was Rs 137.21 crore in the year-ago period, Ballarpur Industries (BILT) said in a BSE filing. The stock was trading 0.36 per cent lower at Rs 10.93 apiece on the BSE.
Cipla in pink of health after turnaround Q4 outcome
Cipla surged 4.41% to Rs 547.50 at 9:31 IST on BSE after the company reported consolidated net profit of Rs 153.25 crore in Q4 March 2018 as compared with net loss of Rs 62.79 crore in Q4 March 2017.
SoftBank to sell Flipkart stake to Walmart, first known Vision Fund divestment
TOKYO (Reuters) - SoftBank Group Corp said on Wednesday it is selling its roughly 20 percent stake in Indian e-commerce firm Flipkart to Walmart Inc, the first public divestment by its Vision Fund.
Sensex, Nifty open lower on negative Asian cues
Key benchmark indices were trading lower in early trade, tracking negative cues from other Asian shares. At 9:27 IST, the barometer index, the S&P BSE Sensex, was down 50.22 points or 0.14% at 34,601.02. The Nifty 50 index was down 15.80 points or 0.15% at 10,520.90.