Page 449 - Business Finance
Facebook, T-Hub look for innovative Indian AI startups
Facebook, in partnership with the global startup catalyst T-Hub, on Friday announced to open applications for the second edition of the "India Innovation Accelerator' programme.
PESB invites applications for Hindustan Copper's CMD post
Government head-hunter PESB has invited applications for the post of Chairman and Managing Director of Hindustan Copper Ltd (HCL). The move comes at a time when the company has chalked out strategy, which includes reopening of closed mines, to augment production capacity to up to 20 million tonne per annum by 2024. "The Public Enterprises Selection Board (PESB) is seeking qualified candidates for the post of Chairman and Managing Director (CMD), Hindustan Copper Ltd," the mines ministry said in a notification. "The names of the candidates...may be kindly forwarded so as to reach the PESB by...July 3," it said. Candidates working in private sector firm with annual turnover of Rs 2,000 crore or more can also apply for the post, it added. At present, Santosh Sharma is the Chairman-cum-Managing Director of the PSU, which is under the administrative jurisdiction of the mines ministry. The Cabinet had earlier approved a fresh equity issue of 15 per cent by HCL that will help the state-owned
EMI financing grew 10-fold in tier III cities: ZestMoney
A study done by ZestMoney, India's largest and fastest growing consumer lending Technology Company has revealed that EMI financing has grown over 1000 per cent in tier III cities over the past one year, bypassing the combined growth of tier I and II cities of India."EMI financing is the key to enable masses in realising their aspirations without financial limitations. Tier II & amp; III cities constitute the majority of the Indian population, and being able to cater to this section of our society is critical for the growth of Fintech Companies," said Lizzie Chapman, CEO, ZestMoney.The study also revealed that in the year 2018-19, 46 per cent of EMI financing was availed by borrowers from Tier-III cities, while 54 per cent was from customers in Tier I & amp; II cities. This showcases the growing depth of Fintech financing in India."Digitally enabled lending, coupled with the penetration of data has opened up even the smallest towns for us. We are observing a steep increase in
Zinc futures up 0.11% on spot demand
Zinc prices rose 0.11 per cent to Rs 218.25 per kg in futures trade Friday tracking a firm trend at the spot market on the back of pick-up in demand. On the Multi Commodity Exchange, zinc for May contracts was trading higher by 25 paise, or 0.11 per cent, at Rs 218.25 per kg with a business turnover of 5,542 lots. Marketmen said widening of positions by participants following pick-up in demand from consuming industries mainly kept zinc prices higher.
Eros International Media Ltd leads losers in 'B' group
Shree Rama Multi-Tech Ltd, Cox & Kings Financial Service Ltd, Techindia Nirman Ltd and Magnum Ventures Ltd are among the other losers in the BSE's 'B' group today, 03 May 2019.
Volumes spurt at Gujarat Alkalies & Chemicals Ltd counter
Gujarat Alkalies & Chemicals Ltd registered volume of 3.67 lakh shares by 14:14 IST on NSE, a 12.95 fold spurt over two-week average daily volume of 28371 shares
Hong Kong Hang Seng Index tops 30,000-point level
Hong Kong-listed shares of HSBC jumped more than 2.5% after the bank reported first-quarter earnings that beat expectations. HSBC (5 HK), Europe's largest bank and the second heaviest component on the Hang Seng Index, reported a 34 per cent jump in first-quarter profit to US$4.13 billion, while its pretax profit rose to US$6.35 billion. HSBC is the second-largest stock on the Hang Seng Index, with a 10.33 per cent weighting, just slightly behind Tencent Holdings (700 HK) at 10.35 per cent. HSBC's Hang Seng Bank (11 HK) unit soared after announcing a larger dividend payout, rising by as much as 3.8 per cent to HK$212.20.
Realty sales across cities tepid in Q1 2019: Report
Property sales during the first quarter of 2019 was tepid across the major cities in the country, which kept prices under pressure, according to a 99acres report.
US, Canada, Australia most trending family-friendly intl destinations this summer: Report
The US, Canada and Australia are the most favoured destinations for educational and family-friendly vacations for Indian tourists this summer, according to a survey. As per the data revealed by leading travel search engine KAYAK this year, Houston topped the list as the most trending international family-friendly destination, recording the highest year-on-year search growth of 151 per cent on its platforms. Boston bagged the second spot with a significant increase in year-on-year search growth at 103 per cent, while Los Angeles was trending at third position with 87 per cent year-on-year growth. Melbourne was at fourth position with 51 per cent year-on-year search growth and Toronto at fifth position with 44 per cent rise. "This summer, KAYAK looked through its data and identified the top trending destinations that are family-friendly, such as Houston, Boston, Los Angeles, Melbourne and Toronto," said Abhijit Mishra, Regional Director, APAC of KAYAK. As a leading travel search engine,
ITD Cementation India appoints director
On 03 May 2019
Silver futures fall 0.01 pc to Rs 36,700/kg
Amid profit-booking by traders, silver prices fell by 0.01 per cent to Rs 36,700 per kg Friday even as the metal strengthened overseas. On the Multi Commodity Exchange, silver for delivery in July contracts fell by Rs 5, or 0.01 per cent, to Rs 36,700 per kg in a business turnover of 27,503 lots. Traders said off-loading of positions by participants to book profits led to the fall in silver prices here. However, a firm trend in global market capped the fall. Globally, however, the white metal gathered steam. The metal was trading higher by 0.68 per cent to USD 14.63 an ounce in Singapore.
Amazon's India summer sale starts on Friday midnight
Amazon's Indian arm would start on Friday midnight its annual summer sale with great deals and deep discounts, said the world's leading e-tailer.
SEG Automotive develops motor to power e-rickshaws
Auto component maker SEG Automotive India Friday said it has developed an electric motor for e-rickshaws. The Bengaluru-based firm, which is a leading supplier of various auto components like starter motors, said the e-motor would be manufactured locally with high local content and would cater to customers in domestic as well as overseas markets. "The company is now entering this fast-growing market with an e-motor, setting new standards in terms of efficiency and durability," SEG Automotive India Managing Director Anil Kumar M R said in a statement. The new EM1.2-HR e-motor is based on advanced technology instead of a BLDC (brush less DC) motor, he added. "We will manufacture the e-motor locally in India for the domestic and overseas markets. Thanks to the FAME II policy, which promotes the development of local EV supply chain in India, our new motor will also feature a high share of local components," Kumar M R said. Over 10 lakh e-rickshaws are already on the Indian roads providing
Gold futures decline Rs 93 on profit-booking
Gold prices fell by Rs 93 to Rs 31,252 per 10 gram in futures trade Friday as speculators went for profit-booking at prevailing levels even as the metal strengthened overseas. On the Multi Commodity Exchange, gold to be delivered in June contracts fell by Rs 93, or 0.3 per cent, to trade at Rs 31,252 per 10 gram in a business turnover of 12,205 lots. The yellow metal for delivery in August contracts shed Rs 103, or 0.33 per cent, to trade at Rs 31,399 per 10 gram in a business volume of 4,439 lots. Analysts attributed the fall in gold futures to profit-booking by traders in domestic market. Globally, however, the yellow metal was trading higher by 0.05 per cent to USD 1,270.70 an ounce in Singapore.
NSE to conduct extended live trading session on Akshaya Tritiya
The National Stock Exchange (NSE) will conduct an extended live trading session on May 7 in the capital market segment on the occasion of Akshaya Tritiya. The extended live trading session will be held for trading in gold exchange-traded fund (ETF) and sovereign gold bonds only, the NSE said in a circular. The regular market timing will remain the same and the closing session will not be available for gold ETF securities and sovereign gold bonds, it added. The outstanding orders of gold ETF and sovereign gold bonds will be carried forward to extended trading session and can be cancelled by members during the pre-open period of extended market session between 1625 hours and 1630 hours. The extended trading session will commence at 1630 hours and close at 1900 hours. There will be no closing session after the extended market is closed, the exchange said.
Australia Market edges down ahead of US jobs data
Shares of financials were largely mixed as ANZ and NAB reported their half-year results. While ANZ managed to maintain its dividend, NAB said it would cut its payment to shareholders. ANZ gained 0.5%, Westpac gained 0.1%, and Commonwealth was up 0.2%, while NAB fell 0.12%. Macquarie Group fell 5.4% to A$128.81 after the financial services company warned it expected a more subdued performance over the next 12 months.
National Fertilisers net profit totals Rs 298 crore in FY 19
High capacity utilisation and energy savings lifted operational revenue of National Fertilisers Limited (NFL) to Rs 12,245 crore on standalone basis in 2018-19 compared to Rs 8,954 crore in the previous year.The government-owned enterprise reported net profit of Rs 298 crore in FY 19 as against Rs 213 crore in FY 18, it informed stock exchanges in regulatory filings after closing hours on Thursday.The provision for depreciation too was higher at Rs 101 crore compared to Rs 73 crore in 2017-18.NFL is engaged in manufacturing and marketing of neem coated urea, three strains of bio-fertilisers (solid and liquid) and other allied industrial products like ammonia, nitric acid, ammonium nitrate, sodium nitrite and sodium nitrate.It has five gas-based ammonia urea plants: one each at Nangal and Bathinda in Punjab, one at Panipat in Haryana besides two at Vijaipur in Guna district of Madhya Pradesh.Apart from manufacturing business, the company imports various agro-inputs like non-urea ...
ICICI Prudential Life Insurance Company Ltd gains for five straight sessions
ICICI Prudential Life Insurance Company Ltd is quoting at Rs 375, up 0.01% on the day as on 12:44 IST on the NSE. The stock is down 13.6% in last one year as compared to a 10.69% gain in NIFTY and a 18.1% gain in the Nifty Financial Services.
Negative market breadth
Key equity benchmarks hovered with modest gains in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was up 120.30 points or 0.31% at 39,101.73. The Nifty 50 index was up 25.85 points or 0.22% at 11,750.60.
Update on MCA Inspection - MCA Finds no Irregularities and no Further Action Pending Pertaining to Vakrangee
/ -- Vakrangee Ltd. today announced that it has received an update on the Inspection report from Ministry of Corporate Affairs which clearly states that pursuant to Inspection of Books of Accounts of the company for the last three years there are no irregularities and there is no further action pending pertaining to it with respect to the below mentioned matters. Earlier in September 2018, the Ministry of Corporate affairs (MCA) had ordered the Inspection of Books of Accounts for a period of three financial years to be conducted in terms of Section 206(5) of the Companies Act 2013. The scope, inter alia, included:- Resignation of Price Water House and Co Chartered Accountants LLP as Statutory Auditors of the Company Abnormal trading of the Company stock and consequent action taken by the Stock Exchanges Income Tax Assessment order and Tax Audit report for the last 5 years Shareholding structure of the Company The Ministry of Corporate Affairs finds no irregularities and there is .