Page 3886 - Business Finance
Jeera futures higher 0.57% on pick-up in demand
Jeera prices firmed up by 0.57 per cent to Rs 15,800 per quintal in futures trade today as speculators created fresh positions, driven by pick up in demand from stockists. Besides, tight stock positions following restricted arrivals from the growing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, jeera for delivery in June rose by Rs 90, or 0.57 per cent, to Rs 15,800 per quintal, with an open interest of 5,175 lots. Likewise, contract for far-month July was increased by Rs 65, or 0.41 per cent, to Rs 15,880 per quintal, as the open interest of contract stood at 1,878 lots. Traders said speculative positions built up by participants amid rising domestic as well as export demand led to the rise in jeera prices.
Ola expands to 3 Australian cities
Following successful launches in the cities of Perth, Sydney and Melbourne; Ola, one of the world's largest ride sharing platforms, is now available in Brisbane, Gold Coast and Canberra.To celebrate its launch in these cities, Ola is offering discounted rides from Tuesday."As we continue to expand across Australia, we have seen that customers and driver-partners are choosing Ola over competitors for the best rideshare experience possible. By doing so, everyone is choosing an affordable and better way to move," said Chandra Nath, vice president, Head of International, Ola.Customers can download the Ola app either from Google Play or iOS App Store, register for an Ola account and begin booking their rides.Now operating across six major metropolitan cities in Australia, Ola continues to receive feedback from customers to understand their needs and enhance their rideshare experience.This includes regular updates to the Ola app to improve customer experience, lower estimated time of ...
Focus: Beer maker AB InBev pumps up the volume in Africa
JOHANNESBURG/BRUSSELS/LONDON (Reuters) - Sitting outside the ramshackle Vimba Tavern in Johannesburg's Alexandra township, Patrick Mashego swigs from a one-litre bottle of Carling Black Label, South Africa's most popular beer.
Copper futures soften by 0.52% on profit booking
Copper prices moved down by 0.52 per cent to Rs 469.55 per kg in futures market today as speculators booked profits amid easing demand in the spot market. However, a firm trend in global markets capped the fall. At the Multi Commodity Exchange, copper for delivery in August fell by Rs 2.45, or 0.52 per cent to Rs 469.55 per kg in business turnover of 48 lots. Likewise, the metal for delivery in June shed Rs 2.35, or 0.50 per cent to Rs 465.50 per kg in 2,348 lots. Market analysts said besides profit-booking by participants, fall in demand from consuming industries in the physical market led to decline in copper prices at futures trade. Meanwhile, copper for delivery in three months rise 0.1 per cent to USD 6,889 a tonne on the London Metal Exchange with prices underpinned as the chance of a US-China trade war appeared to fade.
Auto exports from India is expected to show strong growth-Care Ratings
The industry is valued at around 7.1% of the country's Gross Domestic Product (GDP). The Two Wheelers segment leads the Indian Automobiles market with 80% market share owing to a growing middle class and a young population. Moreover, the companies growing interest in exploring the rural markets further aided the growth of the sector. This is followed by the Passenger Vehicle (PV) segment with 14% market share.
Trading turns volatile
A bout of volatility was witnessed as key benchmark indices reversed trend and re-entered negative terrain in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was down 22.19 points or 0.06% at 34,593.94. The Nifty 50 index was down 4.90 points or 0.05% at 10,511.80. Selling in IT shares put pressure on the benchmarks.
Adobe to buy Magento Commerce for $1.68 billion
(Reuters) - Adobe Systems Inc said on Monday it would buy e-commerce services provider Magento Commerce from private equity firm Permira for $1.68 billion in cash, its biggest deal in nearly a decade.
Milkbasket raises USD 7 million in series A funding
Daily grocery delivery service platform, Milkbasket, on Tuesday announced the successful closure of USD 7 million in series A funding led by Kalaari Capital with participation from Singapore based BeeNext and its existing investors, Unilever Ventures and Blume Ventures."Strong founding team, focus towards data-based decision making, operational rigor, and incessant focus on customer delight, backed by a large market opportunity in the grocery space culminated into us leading a USD 7M series A round into Milkbasket," said Vani Kola, MD at Kalaari Capital."We are very excited to have Kalaari and BeeNext join us in the journey to crack the online grocery space in a sustainable manner. This funding will help us to continue investing in the 3Ts that we hold close to our hearts - talent, technology and territory, and in achieving our vision to create the most convenient grocery fulfilment model for today's busy households," said Anant Goel, CEO at Milkbasket.The company is going to use ...
Volumes spurt at Hatsun Agro Product Ltd counter
Hatsun Agro Product Ltd registered volume of 28392 shares by 10:54 IST on BSE, a 35.89 fold spurt over two-week average daily volume of 791 shares
Two women mountaineers and TSAF instructor conquer Mt Everest
Two women mountaineers and an instructor of the Tata Steel Adventure Foundation (TSAF) here, have climbed the summit of the Mount Everest, a Tata Steel release said. The two women mountaineers - Poonam and Swarnalata Dalai -- and instructor Sandeep Toliya climbed the summit on Sunday, it said. Poonam (21) hailed from Uttarkashi of Uttarakhand, while Swarnalata Dalai (20) is a native of Odisha. They had been undergoing training at the TSAF for the past one year. Sandeep Toliya has been working with TSAF for more than 10 years as senior instructor, it said adding that the mission was sponsored by the Tata Steel. "Its a great achievement by the trekkers which showcases their indomitable spirit, zeal and grit. We at Tata Steel are proud to have been able to support them to realise their dreams. TSAF, through this unique endeavour, will continue to promote the adventure sports in the country," vice president, corporate services of the Tata Steel, Sunil Bhaskaran said.
L&T gains after large order win
Larsen & Toubro gained 1.8% to Rs 1,337.65 at 10:40 IST on BSE after the company said its construction arm has won orders valued Rs 4033 crore.
Crude oil futures up 0.14% on positive global cues
Crude oil prices advanced 0.14 per cent to Rs 4,945 per barrel in futures market today as speculators raised their bets amid positive global cues. At the Multi Commodity Exchange, crude oil for delivery in July edged up by Rs 7, or 0.14 per cent to Rs 4,945 per barrel in business turnover of 35 lots. Also, the oil for delivery in June was trading higher by Rs 6, or 0.12 per cent to Rs 4,944 per barrel in 3,847 lots. Analysts said sentiment remained firm after oil prices rose in global markets on concerns that Venezuela's crude output could drop further following a disputed presidential election and the potential US sanctions on the OPEC-member. Meanwhile, West Texas Intermediate rose 22 cents, or 0.30 per cent, to USD 72.46 per barrel on the New York Mercantile Exchange. Brent crude went up by 15 cents, or 0.19 per cent to USD 79.37 a barrel.
Astrazeneca Pharma advances after turnaround Q4 result
Astrazeneca Pharma India rose 1.34% to Rs 1,153 at 10:21 IST on BSE after the company reported net profit of Rs 3.22 crore in Q4 March 2018 as against net loss of Rs 9.56 crore in Q3 March 2017.
India's Ola in 3 more Australian cities
Indian ride-sharing major Ola on Tuesday expanded its services in Australia to three more cities -- Brisbane, Gold Coast and Canberra.
Silver futures slide 0.35% on overseas cues
Amid a weak trend overseas, silver prices drifted lower by 0.35 per cent to Rs 40,247 per kg in futures trading today as speculators reduced their holdings. At the Multi Commodity Exchange, silver for delivery in July declined by Rs 140, or 0.35 per cent to Rs 40,247 per kg in business turnover of 193 lots. On similar lines, the white metal for delivery in September shed Rs 130, or 0.32 per cent to Rs 40,820 per kg in 3 lots. Globally, silver fell 0.27 per cent to USD 16.45 an ounce in Singapore. Market analysts said cutting down of positions by traders in tandem with a weak trend in precious metals in the global markets mainly weighed on silver prices at futures trade.
Gold futures slip 0.32% on bearish global cues
Gold prices moved down by 0.32 per cent to Rs 31,270 per 10 grams in futures trade today as participants trimmed their positions, tracking a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in August fell by Rs 99, or 0.32 pr cent, to Rs 31,270 per ten grams in business turnover of 30 lots. Likewise, the yellow metal for delivery in June contracts was trading lower by Rs 92, or 0.30 per cent, at Rs 31,020 per ten grams in 223 lots. Analysts said offloading of positions by speculators in line with a weak trend overseas where gold prices dipped slightly today, hovering not far off a 2018-low struck in the previous session as a firm dollar near five-month highs and optimism in global markets curbed appetite for the precious metal, influenced gold prices here at futures trade. Globally, gold fell 0.22 per cent to USD 1,289.30 an ounce in Singapore.
Sensex, Nifty hit fresh intraday high
Key benchmark indices bounced back and hit fresh intraday high in morning trade led by strength in index pivotals ICICI Bank, HDFC Bank and Larsen & Toubro. At 10:20 IST, the barometer index, the S&P BSE Sensex, was up 60.57 points or 0.17% at 34,676.70. The Nifty 50 index was up 24.45 points or 0.23% at 10,541.15.
Negative global cues subdue key Indian equity indices
Broadly negative Asian markets, along with high crude oil prices and caution ahead of key quarterly results subdued the Indian equity indices during the morning trade session on Tuesday.
Sensex opens in green on value-buying, up 83 points
The BSE Sensex rebounded over 83 points in opening trade today, breaking its five-session losing streak on value-buying in select blue-chips amid a strengthening rupee. Overseas, most Asian shares were trading higher, tracking strong closing in the US market overnight as investors applauded easing of trade tensions between the US and China, traders said. The 30-share BSE index jumped 83.74 points, or 0.24 per cent, to 34,699.87 in early trade. The NSE Nifty too rose by 24.25 points, or 0.23 per cent, to 10,540.95. Sectoral indices, including capital goods, consumer durables, infrastructure and oil and gas, advanced up to 0.46 per cent. The Sensex had lost 940.58 points in the previous five sessions as investors rushed to unwind bets following post-poll instability in Karnataka amid discouraging global cues. Domestic institutional investors (DIIs) made purchases worth Rs 1,190.56 crore while foreign portfolio investors (FPIs) sold shares worth a net Rs 496.03 crore yesterday, as per ...
India receives the 1st cargo of ADNOC crude oil for its Mangalore Startegic Petroleum Reserve
In February 2018, during the visit of Prime Minister Narendra Modi to UAE, ISPRL and ADNOC signed an Agreement under which ADNOC will store about 5.86 million barrels of crude oil in India's SPR facility at Mangalore at its own cost. The filling up began with the 2 million barrels reaching Mangalore today. ADNOC will bring additional crude oil and fill up the Mangalore cavern later this year.