Page 427 - Business Finance
Apollo Tyres Ltd drops for fifth straight session
Apollo Tyres Ltd is quoting at Rs 196.9, down 0.08% on the day as on 13:24 IST on the NSE. The stock tumbled 31.89% in last one year as compared to a 8.27% rally in NIFTY and a 27.68% fall in the Nifty Auto index.
IndusInd Bank Ltd down for fifth straight session
IndusInd Bank Ltd is quoting at Rs 1522.05, down 0.41% on the day as on 13:24 IST on the NSE. The stock tumbled 18.59% in last one year as compared to a 8.27% rally in NIFTY and a 13.7% spurt in the Nifty Bank index.
New government to take up BSNL, MTNL revival plans: Sources
The Finance Ministry has asked the Department of Telecommunications (DoT) to re-examine the revival proposals for the telecom firms BSNL and MTNL and submit these to the new government that will take office after the ongoing general elections, a senior official source said on Tuesday.
China going back on commitment on trade talks: top US official
China is going back on its commitment on trade and related issues, the Trump administration has alleged while asserting that the US is going ahead with its plans to impose stiff tariffs on import of Chinese products worth over USD 200 billion beginning Friday. US President Donald Trump, in a series of tweets on Sunday, said the US has been losing USD 500 billion per year on trade with China and he will no longer allow that to happen any more. "The 10 per cent will go up to 25 per cent on Friday. 325 billions dollars of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25 per cent," he said, adding the tariffs paid to the US have had little impact on product cost, mostly borne by China. Trump's remarks came as the two countries locked in a longstanding trade war seemed near to striking a trade deal. A high-level Chinese delegation led by Vice Premier Liu was scheduled to be in Washington this week to resume talks aimed at resolving the trade war ...
Airtel, Hughes to combine India VSAT operations
Bharti Airtel and Hughes Communications India announced an agreement on Tuesday to combine their VSAT operations in India and leverage the demand for secure connectivity in a rapidly growing digital economy.Hughes will have majority ownership while Airtel will have a significant shareholding in the combined entity that will benefit from enhanced scale, improved operational efficiencies and wider market reach, according to an official statement."These are exciting times for satellite broadband service providers as VSAT becomes more mainstream, driven by growing demand from both, enterprise and government segments," said Partho Banerjee, President and Managing Director of Hughes Communications India.Ajay Chitkara, Director and Chief Executive Officer of Airtel Business, said: "The partnership will bring amazing synergies to the forefront and combine the proven capabilities of both the companies. Customers can look forward to highly secure and reliable connectivity solutions across the ..
Company in strong financial position, has funds to meet capex needs: ONGC
State-owned ONGC Tuesday said it continues to have strong financial position and sufficient funds to meet current and future capex needs, as it sought to allay concerns over its finances after successive acquisitions and government demands drained out its surplus. From a zero-debt company, Oil and Natural Gas Corp (ONGC) had to resort to borrowings in the past couple of years after the government asked it to acquire state-owned refiner Hindustan Petroleum Corp Ltd (HPCL), pay record dividend and buy back shares. Reacting to reports on the company's ability to meet its capital requirements, ONGC in a statement said,"it has strong financials in place to finance its projects both ongoing as well as upcoming ones." "The company's operational plans and expenditure thereon have also been in line with its requirement," it said. "There is no plan or item of expense that had to be deferred due to paucity of funds/ resources." ONGC in 2017 bought Gujarat government firm GSPC's 80 per cent stake
Crude oil futures slip 0.53 pc on weak global cues
Crude oil futures fell 0.53 per cent to Rs 4,323 per barrel Tuesday after participants reduced exposure, in tandem with a weak trend in overseas markets. On the Multi Commodity Exchange, crude oil for delivery in May contracts shed Rs 23, or 0.53 per cent, to trade at Rs 4,323 per barrel with a business volume of 18,106 lots. Globally, the oil prices remained spiralling low after US President Donald Trump Sunday announced to sharply raise tariffs on Chinese goods, raising fresh fears of an escalation of trade war between the world's two largest economies. The oil for delivery in the June contracts was also trading lower by 0.55 per cent, or Rs 24, at Rs 4,345 per barrel with a business volume of 1,090 lots. Meanwhile, West Texas Intermediate crude oil was down 0.02 per cent to USD 62.24, while Brent fell 0.32 per cent to trade at USD 71.01 a barrel.
China Market rebounds 0.7%
An official confirmation that Chinese Vice-Premier Liu He will visit the US this week for a fresh round of trade talks soothes jittery sentiment. Investors waited to see how Beijing would respond to fresh tariffs threats from U.S. President Donald Trump, which have thrown trade talks between the two sides into doubt. The world's two largest economies are expected to continue talks on Thursday and Friday in Washington for negotiations aimed at ending the tit-for-tat tariff war, as per reports.
Market breadth turns negative
Key benchmarks sharply pared gains in afternoon trade. At 13:22 IST, the barometer index, the S&P BSE Sensex, was up 52.18 points or 0.14% at 38,652.52. The Nifty 50 index was up 5.20 points or 0.04% at 11,603.45.
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Gold futures fall 0.04% on weak global cues
Gold prices fell 0.04 per cent in futures trade Tuesday as speculators tightened positions in domestic market post weak overseas cues. In futures trading on the Multi Commodity Exchange, gold for delivery in June contracts was trading lower by Rs 14, or 0.04 per cent, to Rs 31,549 per 10 gram in a business turnover of 9,962 lots. Despite remaining a safe haven for the past day, the gold prices took a beating in the overseas market. The yellow metal prices dipped over speculation of US-China trade war escalation resulting in global economic slowdown, say reports. On similar notes, the August contract for gold fell by Rs 36, or 0.11 per cent, to Rs 31,695 per 10 gram in a business volume of 5,275 lots. Gold prices fell 0.05 per cent to USD 1,283.20 an ounce in New York.
CSS Corp wins Best Use of Emerging Technologies award
CSS Corp, a new-age IT services and technology support company, recently bagged the SmartTech Award under the "Best Use of Emerging Technologies" category at IMC's Digital Technology Awards.The event was hosted by IMC Chamber of Commerce and Industry at St. Regis Marriott Hotel in Mumbai. The company was recognised for its innovative adoption of Artificial Intelligence (AI) in Customer Service Management.CSS Corp's home-grown customer experience solution helps simplify complex business processes and streamlines customer life cycle management. By using artificial intelligence, the solution leverages real-time data to effectively deliver personalised and context driven customer engagement. Additionally, in a customer support ecosystem, CSS Corp's platform uses AI and analytics to identify issues, analyse the best course of action and guide customers through specific solutions."It is an honour to be recognized for our innovation in digital capabilities and excellence. This accolade ...
Japan Market falls on renewed US-China trade tension
Japan share markets were closed during the 10-day Golden Week string of national holidays through Monday (27 April 2019 to 6 May 2019) to celebrate the enthronement of the country's Crown Prince Naruhito.
Australia Market recovers on bargain hunting, miners lead
Local market fell into a sea of red on Monday on renewed US-China trade war fears. Early Sunday, President Trump tweeted that he would raise tariffs on $200 billion worth of Chinese goods to 25% from the current 10%.
GOI Announces Sale Of Dated Securities For Rs 17000 Crore
Government of India (GoI) has announced the sale (re-issue) of four dated securities for Rs 17000 crore. These include 7.32% GS 2024 (Rs 5,000 crore), 7.26% GS 2029 (Rs 6,000 crore), 7.69% GS 2043 (Rs 2,000 crore), and 7.72% GS 2049 (Rs 4,000 crore). Subject to the limit of Rs 17000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to Rs 1000 Cr each against any one or more of the above security.
Market extends gains
The market extended gains in early afternoon trade. At 12:28 IST, the barometer index, the S&P BSE Sensex, was up 106.43 points or 0.28% at 38,706.77. The Nifty 50 index was up 20 points or 0.17% at 11,618.25. Shares of index heavyweights HDFC and L&T gained.
Hughes and Airtel to combine their India VSAT operations
On 07 May 2019
Industry Veterans Join Incedo in Crucial Roles
/ -- Company reinforces leadership team to support strategic growth Incedo, a Bay Area headquartered, consulting, analytics and technology solutions firm, announced strategic additions to its executive leadership team. Joining the team are Shailaja Iyer as Chief Human Resource Officer and Roger Castillo as Chief Technology Officer. (Logo: https://mma.prnewswire.com/media/515715/Incedo_Logo.jpg ) "I am excited to have Shailaja and Roger join the team. Both are strategic hires for Incedo, bringing unique value towards building a world class tech and analytics firm," said Nitin Seth, CEO, Incedo. "Shailaja brings deeps experience of working with hi-quality talent and building a distinctive culture. Roger is an acknowledged industry thought leader. He will bring cutting edge engineering expertise to our clients and to our platform development efforts," added Nitin. Roger Castillo comes with over 25 years of experience as an entrepreneur, a technology leader, building consumer and ...
TMT Groups and Flexible Workspace Operators Represents 22% of Aggregate Grade A Office Space in the CBDs of Major Asian Cities: Colliers International India
/ -- Asian CBD areas have historically been dominated by finance. However, technology, media and telecoms (TMT) groups and flexible workspace operators were key drivers of demand over 2017-2018. TMT groups now occupy about 18% of prime office space in Asian CBDs, and flexible workspace 4-5%. Growth in TMT and flexible workspace may slow, but is unlikely to reverse. Conversely, finance is generally flat or in slight decline. In addition to changing occupation profiles, patterns of workplace organization and design are evolving. Occupiers in general increasingly value flexibility, efficiency of space use and ambient experience. "Not only are occupier profiles changing, but so too are patterns of workplace organization and design. Offices are increasingly laid out on open-plan activity-based or agile working principles, while occupiers in general are demanding flexibility, efficiency of space use and enhanced ambient experience as tools to staff retention for a more mobile and younger ..