Page 3919 - Business Finance
Gur ends flat in Delhi
The wholesale gur (jaggery) market depicted a steady trend in the national capital today with prices closing at previous levels. On the other hand, gur Chakku in Muzaffarnagar dropped by Rs 100 per quintal on sluggish demand. Marketmen said muted demand from stockists and retailers coupled with fresh supplies from manufacturing belts, mainly led to fall in gur Chakku prices at Muzaffarnagar. In Muzaffarnagar, gur Chakku prices declined from Rs 2,400-2,550 to end the day at Rs 2,300-2,500 per quintal. Following are today's rates (in Rs per quintal): Gur chakku Rs 2,900-3,000, pedi Rs 2,900-3,000, dhayya Rs 3,100-3,200 and shakkar Rs 3,200-3,300. Muzaffarnagar: Rasket Rs 2,100-2,150, chakku Rs 2,300-2,500, khurpa Rs 2,250-2,300 and Ladoo Rs 2,500- 2,600. Muradnagar: Pedi Rs 2,500-2,550 and dhayya Rs 2,550-2600.
Sugar mill gate prices fall on ample supply
Sugar mill gate prices remained marginally lower and fell by Rs 5 per quintal at the wholesale market in the national capital today following selling pressure from millers amid scattered buying by stockists and bulk consumers. Marketmen said increased supplies from mills along with limited offtake by stockists and bulk consumer, largely pulled down sugar mill gate prices. In the mill gate section, sugar Dorala, Thanabhavn, Budhana, Shamli and Malakpur traded lower by Rs 5 each to Rs 2,590, Rs 2,600, Rs 2,590, Rs 2,580 and Rs 2,585 per quintal respectively. On the other hand, sugar spot prices remained unaltered on scattered buying support from local parties. Following are today's quotations (in Rs per quintal) Sugar retail markets - Rs 29-31 per kg. Sugar ready: M-30 Rs 2,760-2,880, S-30 Rs 2,750-2,870. Mill delivery: M-30 Rs 2,550-2,680, S-30 Rs 2,540-2,670. Sugar millgate (including duty): Mawana Rs 2,590, Kinnoni Rs 2,680, Asmoli Rs 2,650, Dorala Rs 2,590, Budhana Rs 2,590, ...
Snail cream, smelly fruit: Thai cosmetics, food firms tap into Chinese tourism boom
BANGKOK (Reuters) - The label on the pink and white box of face cream sold in a Bangkok hypermarket proudly declares that it is based on a "snail secretion filtrate moisture system". The Snail White branding - plus some positive internet reviews - is enough to have Chinese tourists recently lining up to buy the slime-infused product.
China removes tariff on sorghum import from US
China announced on Friday that it was removing the heavy 178.6 per cent tariff imposed a month ago on imports of sorghum, a cereal used as cattle feed, from the US in an apparent goodwill gesture as key talks are underway in Washington over the trade dispute between the two nations.
Avenue Supermarts promoter Radhakishan Damani to sell up to 1% stake in co
Radhakishan Damani, the billionaire investor and promoter of Avenue Supermarts which operates D-Mart stores, will sell up to 1 per cent stake in the company for an estimated sum of over Rs 888 crore. Damani will sell shares to comply with minimum public shareholding requirements. "Radhakishan Shivkishan Damani, one of our promoters, has conveyed to us his intention to sell the equity shares...of the company to enable us to comply with the requirements of minimum public shareholding," Avenue Supermarts said in a BSE filing. The company said Damani has proposed to sell up to 1 per cent of the total paid up equity share capital of the company aggregating to 62,40,844 shares. Based on current share price of Avenue Supermarts at Rs 1,424 apiece, sale of 62,40,844 shares will be for an estimated sum of Rs 888.69 crore. Avenue Supermarts said share sale by Damani will be in the period beginning from May 21 to June 14 or the actual date of completion of sale of all equity shares, whichever is
Odisha CM appoints Dilip Tirkey as OTDC chairman
Chief Minister Naveen Patnaik today appointed former Rajya Sabha MP and ex-captain of Indian national hockey team, Dilip Tirkey, as the chairman of Odisha Tourism Development Corporation (OTDC), official sources said. Tirkey, a leader of the ruling BJD, was elected to the Rajya Sabha on March 22, 2012 and his tenure ended on April 2, this year. OTDC is a state government undertaking, incorporated in 1979, to promote tourism in the state and operate some of the existing tourist bungalows and transport fleets on commercial basis.
Arunachal govt takes full ownership of Donyi Polo Ashok Hotel
The Arunachal Pradesh government has taken full ownership of the Donyi Polo Ashok Hotel here, an official statement said. A share transfer agreement to this effect was signed between India Tourism Development Corporation Ltd (ITDC) and Arunachal Pradesh Industrial Development and Financial Corporation Ltd (APIDFC) here yesterday. Chief Minister Pema Khandu was also present during the agreement signing ceremony, the release said. The state government will now own 100 per cent share in the centrally located 3-star hotel in Itanagar through the APIDFC, and the word Ashok will be done away with. As per the share agreement, 51 per cent equity share has been transferred from ITDC to APIDFC. The Hotel Donyi Polo Ashok Corporation Ltd is a joint venture project of ITDC and APIDFC established consequent upon execution of promoters agreement for JV project on January 7, 1982 on 51:49 ratios of equity shares, the release added.
Weak market breadth
Weakness persisted on the bourses in mid-afternoon trade as index pivotals remained gripped in selling pressure. At 14:18 IST, the barometer index, the S&P BSE Sensex, was down 235.93 points or 0.67% at 34,913.19. The Nifty 50 index was down 68.05 points or 0.64% at 10,614.65. Pharma shares dropped. Sentiment was weak due to political uncertainty in Karnataka after the Supreme Court reportedly directed for floor test in Karnataka Assembly tomorrow, 19 May 2018. Crude oil prices hovering near the $80 per barrel mark and sustained selling from foreign funds also dented sentiment.
Starlit Power Systems Ltd leads losers in 'B' group
Ruchira Papers Ltd, MIRC Electronics Ltd, Kavveri Telecom Products Ltd and Sequent Scientific Ltd are among the other losers in the BSE's 'B' group today, 18 May 2018.
Volumes jump at Voltas Ltd counter
Voltas Ltd witnessed volume of 164.33 lakh shares by 14:24 IST on NSE, a 13.45 times surge over two-week average daily volume of 12.22 lakh shares
Bajaj Auto fourth-quarter profit jumps 35 percent, beats estimates
(Reuters) - India's Bajaj Auto Ltd posted a near 35 percent jump in fourth-quarter profit on Friday, beating estimates, aided by a rise in sales volume.
India has no plans to cancel bond auctions despite spike in yields: finance ministry source
NEW DELHI (Reuters) - India's government is unlikely to cancel a bond auction despite a spike in bond yields as it does not want to trigger panic in financial markets, a senior finance ministry official said on Friday.
Saudi Arabia assures on supply as oil hits $80 a barrel
RIYADH (Reuters) - Saudi Arabia said on Friday it is consulting other oil producers in and outside OPEC to ensure the world has adequate supplies to support economic growth after prices hit $80 a barrel for the first time since 2014.
Pradhan expresses concern over high oil prices with Saudi Minister
Petroleum Minister Dharmendra Pradhan raised concern over the ongoing surge in crude oil prices and the resultant hike in transport fuel prices in the country during a telephonic interaction with Saudi Arabias Minister of Energy, Industry and Mineral Resources Khalid Al-Falih.
Pradhan, Saudi oil minister discuss oil price hike over phone
Union Petroleum and Natural Gas Minister Dharmendra Pradhan has expressed his concern over rising oil prices and its negative impact on consumers and the Indian economy with Saudi Arabia's Minister of Energy, Industry and Mineral Resources Khalid Al-Falih in a telephonic conversation.Pradhan expressed his concern about rising prices and its negative impact on consumers and the Indian economy. He emphasised his desire for stable and moderate prices, the statement, issued by Ministry of Petroleum and Natural Gas, read."Al-Falih assured Pradhan that supporting global economic growth is one of the Kingdom's key goals. He reiterated his commitment towards stable supplies and that the Kingdom together with other producers will ensure availability of adequate supplies to offset any potential shortfalls and ensure that prices remain reasonable," the statement added.The call was made from the Saudi oil minister's end.The two ministers discussed continued joint cooperation between the two ...
Himatsingka Seide acquires home portfolio of Global Brands Group Holding
Through its subsidiary
Select edible oils rise on retailers demand
Select edible oil prices rose by up to Rs 100 per quintal at the wholesale oils and oilseeds market today due to pick up in demand from retailers. However, linseed and castor oils in the non-edible section slipped due to reduced offtake by consuming industries. Traders said uptick in demand from retailers against restricted arrivals from producing belts led to the rise in select edible oil prices. In the national capital, sesame and cottonseed mill delivery (Haryana) oils rose by Rs 100 each to Rs 9,200 and Rs 7,100 per quintal, respectively. Mustard expeller (Dadri) oil also edged up by Rs 50 to Rs 7,700 per quintal. On the other hand, castor and linseed oils fell by Rs 100 each to Rs 7,100-7,200 and Rs 8,800 per quintal, respectively. Following are today's quotations (in Rs per quintal): Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800-1,000. Edible oils: Groundnut Mill Delivery (Gujarat) Rs 8,500, Groundnut Solvent ...
India can benefit from 5G technology by becoming early adopter: Manoj Sinha
India needs to boost its own ambition and become early adopter of 5G technology, Comunications Minister Manoj Sinha said here on Friday.
Pradhan asks Saudi Arabia for stable, moderate oil prices
With global crude prices touching USD 80 a barrel, Oil Minister Dharmendra Pradhan has pressed OPEC kingpin Saudi Arabia to keep prices stable and moderate, saying that spike in rates would have a negative impact on Indian consumers as well as the economy. Pradhan conveyed India's concerns when Saudi Arabian Minister of Energy, Industry and Mineral Resources Khalid Al-Falih called him last evening "to discuss continued joint cooperation between the two countries and in particular the current oil market situation", an official statement said here. Brent crude oil, which breached USD 80 a barrel mark yesterday, was trading at USD 79.54 today, the highest level since November 2014. The rally is being attributed to a combination of factors -- renewed US sanctions on third-largest OPEC producer Iran, shrinking supplies from Venezuela and the International Energy Agency saying that a global surplus has finally been eliminated due to output cuts by the Organization of Petroleum Exporting ...
Gold regains glitter on jewellers' buying
Reversing a two-day slide, gold prices climbed Rs 210 to Rs 31,990 per 10 grams at the bullion market today on pick up in buying by local jewellers despite a weak trend overseas. Silver also rebounded by Rs 120 to Rs 40,870 per kg on increased offtake by industrial units and coin makers. Traders said fresh buying by local jewellers to meet seasonal demand at domestic spot market led to the recovery in gold prices but a a weak trend overseas capped the gains. Globally, gold fell 0.12 per cent to USD 1,288.70 an ounce in Singapore. Depreciating rupee against the dollar also fuelled the uptrend in gold, they said. In the national capital, gold of 99.9 per cent and 99.5 per cent purity went up by Rs 210 each to Rs 31,990 and Rs 31,840 per 10 grams, respectively. The precious metal had lost Rs 670 in the last two sessions. Sovereign, however, remained flat at Rs 24,800 per piece of eight grams. Tracking gold, silver ready too rose by Rs 120 to Rs 40,870 per kg. Weekly-based delivery ...