Page 43 - Business Finance
Prithviraj Chavan questions authenticity of Maharashtra's economic survey
Former Maharashtra Chief Minister Prithviraj Chavan has questioned the authenticity of the state's economic survey and criticised the BJP-led government for "tampering numbers."The state Monsoon Assembly began on Monday with the economic survey of Budget 2018-2019 being presented. It shows that the advance estimates of Maharashtra's economy are expected to grow by 7.5 per cent during 2018-2019, while the Indian economy is expected to grow by 6.8 per cent.The agriculture and allied activities sector is expected to grow by 0.4 per cent during 2018-2019 due to less rain (73.6 per cent of the normal monsoon).Talking about the survey, Chavan told ANI, "There is a debate in the country on economic growth and the article by Arvind Subramanian has said that Prime Minister Narendra Modi-led government has raised the number of economic growth. It is applicable to Maharashtra also. The numbers which are printed in the economic survey report has also risen, which is a matter to be debated. It is .
Surya Roshni rises after winning order
Surya Roshni rose 1.99% to Rs 240.90 at 10:47 IST on the BSE after the company said it obtained an order worth to Rs 151.88 crore from Bharat Gas Resources to supply API Grade 3LPE coated line pipes.
US stocks end with moderate gains
All eyes set on Fed meeting
India's SME-focused Digital Neo Bank EZOTO Gearing up for Launch in June 2019
/ -- Small businesses (SMEs) in India spend significant time for mundane work like sales invoice tracking, payment to vendors and employees, and get frustrated with the alien world of GST and accounting. Close to 35% of the entrepreneur's time is utilized in non-revenue generating activities like invoicing and bank reconciliation. This is a big concern for young startups and SMEs. This further led to concerns like improper accounting, non-compliance, extended credit period, penalties, etc. EZOTO is an SME-focused Neo Bank, which will automate banking and accounting for modern businesses of India. EZOTO wants to disrupt traditional banking by offering API-driven digital banking for SMEs. EZOTO founders have been in the fintech space for a significant time and know the SME sector very well. Small businesses, entrepreneurs and freelancers have started moving to app-based banking, and EZOTO offers a whole new range of services. EZOTO has three core functions - Smart Banking, Invoicing ...
Auctioneer Sotheby's announces its acquistion for $3.7 bn
International auction house Sotheby's has made a formal announcement of its acquisition by French-Israeli telecommunications mogul Patrick Drahi for $3.7 billion.
IndiGo places $20 billion LEAP-1A engine order with CFM
Low-cost airline IndiGo has placed a 20 billion dollar (about Rs 1.4 lakh crore) jet engine order with CFM International to power 280 Airbus A320neo and A321neo aircraft.The contract for LEAP-1A is the largest ever single engine order in history and includes spare engines, an overhaul support agreement and a long-term service agreement.IndiGo has been a CFM customer since 2016 and currently operates a fleet of 17 A320ceo aircraft powered by CFM56-5B engines as part of a total fleet of 215 A320/A321 family aircraft. Delivery of the first LEAP-1A-powered A320neo is scheduled in 2020."We are pleased to partner with CFM for our next batch of Airbus A320neo and A321neo aircraft," said Riyaz Peermohamed, Chief Aircraft Acquisition and Financing Officer of IndiGo."The CFM LEAP engine will allow IndiGo to maintain its strong focus on lowering operating costs and delivering fuel efficiency with high standards of reliability. This new partnership will allow IndiGo to continue to provide ...
Volumes soar at Johnson Controls-Hitachi Air Condition. India Ltd counter
Johnson Controls-Hitachi Air Condition. India Ltd clocked volume of 1923 shares by 10:48 IST on BSE, a 15.52 times surge over two-week average daily volume of 124 shares
Mayawati slams Yogi for proposed power hike
Bahujan Samaj Party President Mayawati has slammed the Yogi Adityanath government in Uttar Pradesh for proposing a hike in power tariff.
Sandhar Tech gains after JV with South Korea's Winnercom
Sandhar Technologies was up 2.22% to Rs 282.85 at 10:27 IST on the BSE after the company said it entered into a 50-50 joint venture with South Korea's Winnercom Co.
Positive market breadth
Volatility struck bourses in morning trade as the key indices regained strength soon after trimming early gains. At 10:15 IST, the barometer index, the S&P BSE Sensex, was up 152.79 points or 0.39% at 39,039.43. The Nifty 50 index was up 35.30 points or 0.30% at 11,707.45. Shares of index heavyweight Infosys gained.
Sensex, Nifty flat ahead of Fed policy meet
The Sensex on Tuesday opened marginally higher ahead of the US Federal Reserve policy meet.
Equities trade volatile, Jet stocks slide further by 10 pc
Equity benchmark indices opened with a positive bias on Tuesday but see-sawed during early hours in the absence of fresh catalysts.At 10:15 am, the BSE S & P Sensex was up 148 points at 39,109 while the Nifty 50 climbed up 39 points to 11,711.Most sectoral indices at the National Stock Exchange were in the green but Nifty FMCG, metal and PSU bank showed thin losses.Among stocks, Jet Airways nosedived another 10 per cent to Rs 61.50 per share, a day after lenders led by State Bank of India decided to seek resolution for the grounded airline under the Insolvency and Bankruptcy Code (IBC).IndusInd Bank was up 1.7 per cent, Power Grid 1.6 per cent, Vedanta 1.4 per cent and Cipla 1.3 per cent. Infosys, HDFC, Hero MotorCorp, ICICI Bank and Larsen & Toubro also showed some gains.However, Indiabulls Housing Finance, Asian Paints, Hindustan Lever and State Bank of India traded in the negative territory.Meanwhile, Asian stocks saw muted gains as markets entered a holding pattern ahead
Exotel Turns Eight, Eyes the Global Customer Communication Market
/ -- Cloud telephony platform Exotel celebrated its 8th anniversary last week. Over the last 8 years, Exotel has grown to become the largest cloud telephony platform in Asia. With patented flagship products like number privacy, easy authentication, and lead management solutions, the growth of Exotel in the customer communication space has been phenomenal. (Logo: https://mma.prnewswire.com/media/923757/Exotel_Logo.jpg ) https://www.youtube.com/watch?v=cHcm1RtYAKM The company today has nearly 2,500 customers including Uber, Ola, Ekart, Aramex, Blue Dart, Fabelio, Swiggy, etc. With a global presence, Exotel works with some of the fastest growing companies in the BFSI, e-commerce, transportation, education, startup, and government sectors. They power nearly 10 million conversations every day and have connected over 3 billion people worldwide. Innovations like the Heartbeat API, which gives customers the uptime of a virtual number, have taken Exotel closer to its goal of being the most ...
Rupee rises 11 paise to 69.80 vs USD in early trade
The rupee appreciated by 11 paise to 69.80 against the US dollar in opening trade Tuesday, driven by positive opening in domestic equities and easing crude prices. Forex dealers said, selling of the American currency by exporters and fall in crude oil prices supported the rupee. However, foreign fund outflows weighed on the domestic currency. The rupee opened strong at 69.82 at the interbank forex market then gained further ground to touch 69.80 per dollar amid positive opening in domestic equities, displaying gains of 11 paise against the greenback. On Monday, the rupee had settled at 69.91 against the US dollar. Forex traders said investors are waiting the outcome of the monetary policy of Federal Open Market Committee (FOMC), Bank of England and Bank of Japan, scheduled this week. Foreign funds pulled out Rs 331.21 crore from the capital markets on a net basis Monday, provisional data showed. The benchmark BSE Sensex was trading with gains of 74.25 points, or 0.19 per cent to quote
Asian markets mostly rise as Fed meeting looms
Asian markets mostly rose Tuesday but gains were limited with investors treading uneasily as they await the conclusion of a crucial Federal Reserve meeting this week. While geopolitical tensions and the China-US trade war continue to make waves, the key focus for now is what the US central bank plans to do with monetary policy as the tariffs stand-off shows signs of impacting the world's top economy. The latest weak data saw manufacturing activity in New York state plunge into contraction this month and hit its lowest level since late 2016, reflecting steep drop-offs in new orders, order backlogs and employment. Observers pointed out the reading coincided with Trump's threat to impose tariffs on Mexico over immigration policy, which he has since withdrawn, but added that the reaction suggests how manufacturers would react to further action against China. There has been increasing talk that the Fed will cut borrowing costs for the first time in more than a decade, though the ...
Sensex, Nifty turn cautious ahead of US Fed policy meet
Domestic equity benchmark BSE Sensex the NSE Nifty turned cautious in early trade Tuesday ahead of US Federal Reserve's meeting, amid escalating global trade war concerns. After rebounding over 150 points in opening session, the 30-share index pared gains to trade marginally higher at 38,969.76 at 0945 hours. Similarly, the broader NSE Nifty was quoting slightly up at 11,678.25. In the previous session on Monday, the BSE gauge settled 491.28 points, or 1.25 per cent, lower at 38,960.79; while the Nifty cracked 151.15 points, or 1.28 per cent, to close at 11,672.15. Top losers in the Sensex pack in early trade included Yes Bank, Tata Steel, Asian Paints, HUL, SBI and RIL, shedding up to 1.55 per cent. On the other hand, PowerGrid, Infosys, IndusInd Bank, HCL Tech, Vedanta, M&M, Bajaj Finance and HDFC rose up to 1.42 per cent. Investors have turned cautious ahead of the US Federal Reserve's policy meeting, scheduled to begin later in the day, traders said. According to experts, ...
Vedanta Ltd Spikes 1.34%
Vedanta Ltd has added 3.33% over last one month compared to 2.43% gain in S&P BSE Metal index and 3.04% rise in the SENSEX
HDFC AMC slides after providing liquidity for certain FMP schemes
HDFC Asset Management Company fell 4.89% to Rs 1835.35 at 9:26 IST on the BSE after the company said it will provide a liquidity arrangement of up to Rs 500 crore to certain fixed maturity plans to deal with illiquidity.
Sensex regains 39,000 level
Local stocks drifted higher in early trade tracking mostly positive Asian stocks. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 78.64 points or 0.2% at 39,039.43. The Nifty 50 index was 20.65 points or 0.18% at 11,692.80. The Sensex regained the psychological 39,000 level in early trade.
Polygoons, Inc Enhances its Augmented and Virtual Reality Technology
/ -- Polygoons, Inc. announces the upgrade of its immersive, augmented reality, mobile technology that is now capable of creating a whole new category of consumer advertising and product marketing, in addition to gaming. Polygoons has developed proprietary technology, processes and methodologies to deliver a range of augmented and virtual reality experiences - gaming and custom applications, such as product demonstration, consumer marketing and newer advertising formats. Polygoons technology demonstrator is a free download from Apple and Android stores as an FPS game . Polygoons is developing a range of games to become a Publisher of immersive games. Steve Chainani, Founder and CEO, reported, "Polygoons, Inc is committed to the future of augmented/virtual reality as an enabler for gaming, marketing and custom solutions. It truly represents the next generation of experiential marketing where any product can be 'virtualized' to the customers environment." According to Chaitanya ...