Page 414 - Business Finance
Base effect dents April passenger vehicle retail sales: FADA
The base effect, along with weak consumer sentiment and high interest costs, dragged passenger vehicle retail sales lower by two per cent on a year-on-year basis in April.
Nifty May futures at steep premium
Turnover in F&O segment rises
Sensex tanks 487 pts as trade jitters take a toll
Markets wilted under selling pressure for the sixth straight day Wednesday as investor sentiment remained grim amid US-China trade tensions and declining foreign fund inflows. The 30-share BSE Sensex plunged 487.50 points, or 1.27 per cent, to end at 37,789.13; while the broader NSE Nifty sank 138.45 points, or 1,20 per cent, to 11,359.45. According to traders, domestic equities tracked weakness in global markets, which have been rattled ever since US President Donald Trump on Sunday threatened to hike tariffs on USD 200 billion worth of Chinese goods this week. The recent flare-up in tensions between the world's two top economies has sent investors scurrying to safe-haven assets like bonds, gold and the Japanese yen. A depreciating rupee, mixed corporate earnings and caution ahead of the elections outcome added to the gloom, analysts added. Index heavyweight Reliance Industries was the biggest loser in the Sensex pack, skidding 3.35 per cent, followed by Bajaj Finance, Tata Motors, ..
Bharat Financial Inclusion completes first Direct Assignment transaction
Of Rs 1,107.41 crore.
Shares dive as US-China trade fears grow
Key domestic benchmarks extended losses for sixth straight trading session. Sentiment was weak across global stock markets amid worries of an unsuccessful US-China trade negotiation. The Sensex ended below 38,000 mark while the Nifty closed below 11,400 level.
Quick Wrap: Nifty Media Index declines 4.53%, NIFTY Tumbles 1.20%
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Olympia Group to set up Rs 750 cr IT Park in Chennai
Olympia Cyberspace, unit of the city-based Olympia Group Wednesday said, it has planned to set up an Information Technology park spread across 1.1 million square foot here at an investment of about Rs 750 crore. The IT Park is being set up with US Private equity fund Apollo Global as joint venture partner. The campus to come up in Guindy here, is proposed to be constructed in three years and expected to generate 12,500 direct jobs. On the IT Park, Olympia Group Managing Director, Ajit Kumar Chordia said, "the ongoing demand for office space in city has prompted the development of IT Park". "The project will have a total investment of about Rs 750 crore and is expected to generate employment for 12,500 IT professionals directly..," he said. Noting that the project would be a milestone for the group in the IT office space vertical, he said, "we are confident that this facility will attract IT/ITeS MNCs that benefit from the state-of-the-art amenities at a strategic ...
Sensex dives 488 points to 37,789, Nifty settles below 11,360
Equity benchmark indices nosedived on Wednesday, led by selling pressure in heavyweight stocks like Reliance Industries, Vedanta and State Bank of India.The S & P BSE Sensex shed 488 points to close at 37,789 while the Nifty 50 was down 138 points to 11,359. Traders said subdued corporate results and caution ahead of the general elections outcome also weighed on indices.All sectoral indices were in the red at National Stock Exchange. Nifty Media was down 4.5 per cent while Nifty Realty slipped 2.1 per cent.Among stocks, Zee Entertainment fell 9.7 per cent after reports said that Essel Group's stake sale process in the company is at an advanced stage.Reliance Industries was down 3.35 per cent while oil prices rose as US sanctions on crude exporters Iran and Venezuela left markets tight.Vedanta dropped 2.5 per cent, a day after reporting a substantial dip in profit during the fourth quarter of fiscal 2018-19.State Bank of India was down 2.5 per cent, ONGC 1.7 per cent and Bajaj Auto
Kalavathi G V to lead Philips Innovation Campus in India
Philips India today announced the appointment of Kalavathi G V as the new Chief Executive Officer (CEO) of the Philips Innovation Campus (PIC) in Bengaluru, effective from May 2, 2019.Kalavathi, currently the head of Global Customer Service and Operations for Philips' Healthcare Informatics business, will succeed Srinivas Prasad M R, who as CEO of PIC for the last 6 years was instrumental in establishing PIC as a global innovation hub for Royal Philips.The new PIC CEO Kalavathi has over 23 years of experience in business, product segment and engineering leadership and has led global teams handling projects that span product, solution development and delivery lifecycles."I am honored to be appointed as the new head of Philips Innovation Campus and to take over the reins from Srinivas Prasad, who has been an inspirational leader," said Kalavathi."India is on the cusp of digital transformation, and with the growing application of disruptive technologies we are strengthening our focus on .
Hackers steal 7,000 bitcoin from Binance
Hackers stole over 7,000 bitcoin from global cryptocurrency exchange Binance, which provides a platform for trading more than 100 cryptocurrencies.
Samco Securities Ltd sets up R&D Centre in Chennai
Financial technology startup Samco Securities Ltd has set up its first research, analytics and development centre here, at an outlay of Rs 20 crore, a top official said Wednesday. The Research and Development Centre set up at the famous Old Mahabalipuram Road (IT Corridor) would focus on building products that can hand-hold customers and automate their investment process. The products would be built using machine learning and artificial intelligence for customers. "India is a recognised technology innovation hub with highly-sought after engineering talent.. the Research and Development Centre in Chennai is a step towards accelerating our R&D initiatives," company Founder-CEO, Jimeet Modi told reporters here. "The investment made by SAMCO in the Research and Development Centre in Chennai is a reflection of our commitment towards accelerating our innovation. The Centre will work towards innovation in three aspects -- people, processes and product. The centre will also .
Neogen Chemicals shares make robust mkt debut; zoom nearly 23%
The scrip of Neogen Chemicals made a robust debut on the bourses Wednesday, zooming nearly 23 per cent at the close of trade over the issue price of Rs 215 per share. The company's shares closed at Rs 263.55, registering a sharp gain of 22.58 per cent over the issue price on the BSE. Earlier in the day, the scrip listed at Rs 251, up 16.74 per cent. At the NSE, shares zoomed 22.58 per cent to close at Rs 263.55. In terms of volume, 2.88 lakh shares were traded on the BSE during the day, while over 13 lakh shares were traded on the NSE. The company's market valuation was at Rs 614.98 crore on the BSE. The Rs 132-crore initial public offering had received good response from investors as the issue was subscribed 41.14 times last month. The price range for the offer was fixed at Rs 212-215 per share. Neogen Chemicals is a manufacturer of bromine-based and lithium-based specialty chemicals.
Lanka offers relief package to revive tourism industry hit by Easter attacks
The Sri Lankan government has announced a one-year debt moratorium and subsidised working capital for the tourism sector as a slew a measures to help revive the tourism industry hit hard by the Easter Sunday terror attacks. The relief package comes as the official tourism arrival figures released on Tuesday, the first monthly report since the terror attacks, showed that Sri Lanka's tourist arrivals declined 7.5 per cent in April 2019 compared to the same period last year. The Sri Lanka Tourism Development Authority said April recorded 166,975 foreign tourists in the country compared to 180,429 in April 2018, a 7.5 per cent dip in arrival of tourists from abroad. State Minister for Finance Eran Wickremeratne said the debt moratorium will be given by the Central Bank of Sri Lanka to tourism sector institutions and individuals, on a case-by-case basis. The moratorium period will be until March 31, 2020 for both capital and interest payments granted to the tourism sector as of April 18, ..
Elite Elevators Inaugurates First Thyssenkrupp Home Elevator Experience Center in India
/ -- Thyssenkrupp, in association with Elite Elevators, has launched its First Home Elevator Experience Center in India on 8th May 2019. This showroom is for all the prospective and existing clients to experience the look and feel of their exclusive products. Thyssenkrupp has introduced the concept of Home Elevators in the Indian market. Since there are no set standards for Home Elevators in India, therefore all their elevators follow European Safety codes and go through 194 different parameters of safety. As opposed to commercial lifts, Thyssenkrupp home elevators require no pit (just 100mm) and no headroom space. These lifts operate on single phase power supply and require no oiling and lubrication on rails, which reduces the maintenance cost to minimal. Moreover, all their home lifts are certified by third-party organizations post installation, which imprints the safety standards they follow. The inauguration of showroom at Prestige Meridian, Bangalore, was done by Mr Andrew ...
Shriram Asset Management Co reports standalone net loss of Rs 0.22 crore in the March 2019 quarter
Sales decline 54.55% to Rs 0.10 crore
Sharp India reports standalone net loss of Rs 3.27 crore in the March 2019 quarter
Reported sales nil
Kopran consolidated net profit rises 49.71% in the March 2019 quarter
Sales rise 3.57% to Rs 99.71 crore
Chennai Petroleum Corporation reports consolidated net loss of Rs 24.89 crore in the March 2019 quarter
Sales rise 1.72% to Rs 9956.75 crore
Rain Industries consolidated net profit declines 72.60% in the March 2019 quarter
Sales decline 3.34% to Rs 3196.53 crore