Page 472 - Business Finance
Gold futures fall 0.31 pc on weak domestic cues
Gold prices traded lower 0.31 per cent to Rs 31,841 per 10 gram in futures trade Tuesday after participants cut positions amid a weak global trend. On the Multi Commodity Exchange, gold for delivery in June contracts was trading lower by Rs 98, or 0.31 per cent, at Rs 31,841 per 10 gram in a business turnover of 13,091 lots. Similarly, gold to be delivered in August contracts fell by Rs 107, or 0.33 per cent, to Rs 32,005 per 10 gram in 3,623 lots. Analysts said off-loading of positions by traders following a weak trend overseas influenced gold prices in futures trade. Meanwhile, however, gold prices was trading a notch up by 0.38 per cent to USD 1,283.45 an ounce in Singapore.
Lava doubles market share in feature phone market
Domestic phone brand Lava has more than doubled its market share to 13 per cent, becoming the second brand in the country in the 2G feature phone segment.
Hong Kong Market falls 0.7%
Factory activity in China expanded for a second straight month in April but at a much slower pace than expected, an official survey showed on Tuesday, suggesting the economy is still struggling for traction despite a flurry of support measures. Reading on the official Purchasing Managers' Index (PMI) for manufacturing unexpectedly fell to 50.1 in April from March's reading of 50.5 stoking concerns about the economic state of China and pressuring Asian equities lower. Data from a private business survey, the Caixin/Markit factory PMI, fell to 50.2 in April lower than the March reading of 50.8. A reading above 50 indicates expansion, while a reading below that signals contraction.
Garden Reach spurts after new order win
Garden Reach Shipbuilders & Engineers surged 10.99% to Rs 105.05 at 12:05 IST on BSE after the company entered into a contract with the Government of India for construction of Swallow Water Craft.
Nifty regains 11,700 mark; most IT shares advance
Key barometers further pared losses in early afternoon trade. At 12:25 IST, the barometer index, the S&P BSE Sensex, was down 151.34 points or 0.39% at 38,915.99. The Nifty 50 index was down 53.15 points or 0.45% at 11,701.50. The Nifty regained 11,700 mark in early afternoon trade after slipping below that level in morning trade.
Jugnoo, India's Largest Auto-rickshaw Aggregator Enters Raipur
/ -- Rolls out to benefit the commuters with Jugnoo Autos and Taxi Jugnoo, India's largest auto-aggregator, has announced the launch of autos and Jugnoo Taxi in Raipur providing an affordable and accessible mode of commuting for the people of the city. Commuters in the city will now have access to Jugnoo's reliable and quick services through a click on the Jugnoo app which provides an auto and a taxi seamlessly. (Logo: https://mma.prnewswire.com/media/640388/Jugnoo_Logo.jpg ) With a fleet of over 50,000 autos and taxis on-road across 50+ cities, Jugnoo aims to expand its services in various cities across the country. Jugnoo autos and taxi services will be available in Raipur at affordable rates and users can avail 50% OFF on first two rides daily till May. Jugnoo will on-board license drivers who have been screened and accredited by the authorities. Also, every driver partner will be required to submit valid government documents before accessing the app. Samar Singla, CEO & ...
China Market rebounds on bargain buying
Factory activity in China expanded for a second straight month in April but at a much slower pace than expected, an official survey showed on Tuesday, suggesting the economy is still struggling for traction despite a flurry of support measures. Reading on the official Purchasing Managers' Index (PMI) for manufacturing unexpectedly fell to 50.1 in April from March's reading of 50.5 stoking concerns about the economic state of China and pressuring Asian equities lower. Data from a private business survey, the Caixin/Markit factory PMI, fell to 50.2 in April lower than the March reading of 50.8. A reading above 50 indicates expansion, while a reading below that signals contraction.
Signet Industries Ltd leads gainers in 'B' group
Vaswani Industries Ltd, Goldiam International Ltd, CIL Nova Petrochemicals Ltd and Optiemus Infracom Ltd are among the other gainers in the BSE's 'B' group today, 30 April 2019.
Yes Bank shares dive 30% on Q4 loss
Shares of Yes Bank plummeted nearly 30 per cent Tuesday after the company reported a loss of Rs 1,506.64 crore for the fourth quarter ended March 31, owing to rise in provisioning for bad loans. The scrip after a weak opening further tumbled 28.39 per cent to Rs 170 on the BSE. At the NSE, shares plunged 29.76 per cent to Rs 166.60. The scrip was the worst hit among the front-line companies on both the indices during the morning trade. Markets were closed on Monday due to elections in Mumbai. The bank had recorded a net profit of Rs 1,179.44 crore on standalone basis during January-March period of 2017-18, it said in a regulatory filing Friday. The bank's total income rose to Rs 8,388.38 crore as against Rs 7,163.95 crore in the same quarter of the previous fiscal, the bank had said in the filing. On the asset quality front, gross non-performing assets (NPAs) of the bank doubled to 3.22 per cent of the gross advances as on March 31, 2019 from 1.28 per cent at the end of 2017-18.
Global Payroll Week Recognizes Payroll Professionals for Paying the World's Employees Accurately and On-Time
/ -- The Global Payroll Management Institute (GPMI) will host the second annual Global Payroll Week (GPW), 29 April - 3 May. The week recognizes payroll professionals around the world for their efforts to pay employees accurately and on-time, every time. "Global Payroll Week celebrates global payroll professionals by encouraging worldwide recognition for their diligent, important work," said Dan Maddux, president of the Global Payroll Management Institute. "Payroll drives the financial engines that make the world's global economies work. GPW helps us work toward building better payroll organizations for today and the future." This year's event also focuses on providing easy access to continuing payroll education. The Global Payroll Week schedule has grown from three complimentary webinars to five, features a new #globalpayweek social media challenge, and will offer multiple online engagement and networking opportunities throughout the week. The full schedule of GPW events can be found
Australia Market extends losses on soft China data, ahead of election
Reading on the official Purchasing Managers' Index (PMI) for manufacturing unexpectedly fell to 50.1 in April from March's reading of 50.5 stoking concerns about the economic state of China and pressuring Asian equities lower. Data from a private business survey, the Caixin/Markit factory PMI, fell to 50.2 in April lower than the March reading of 50.8. A reading above 50 indicates expansion, while a reading below that signals contraction.
Orient Cement Ltd leads gainers in 'A' group
Vakrangee Ltd, Blue Star Ltd, JSW Steel Ltd and Greaves Cotton Ltd are among the other gainers in the BSE's 'A' group today, 30 April 2019.
Maruti Suzuki India introduces new diesel engine in Next Gen Ertiga
introduced powerful 1.5-litre DDIS 225 Diesel Engine with 6-speed manual transmission in the Next Gen Ertiga. The latest 1.5 Litre DDIS 225 4-cylinder diesel engine is developed in-house to deliver enhanced performance.
Benchmarks come off day's low; auto shares tumble
Key benchmarks pared losses in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was down 182.05 points or 0.47% at 38,885.28. The Nifty 50 index was down 60.35 points or 0.51% at 11,694.30.
Home Ministry issues notice to Rahul Gandhi over his citizenship
The Ministry of Home Affairs on Tuesday issued a notice to Congress president Rahul Gandhi over his citizenship after receiving a complaint from Rajya Sabha MP Dr Subramanian Swamy."Ministry has received a representation from MP Dr Subramanian Swamy in which it has been brought out that a Company named Backops Limited was registered in the United Kingdom in the year 2003 and that you were one of the Directors and Secretary of the said Company," the notice read.Swamy has stated that the Congress president had declared his nationality as British in a UK-based company."It has been further brought out in the complaint that in the Company's Annual Returns filed on October 10, 2005, and October 31, 2006, your date of birth has been given as June 19, 1970, and that you had declared your nationality as British. Further, in the Dissolution application dated 17/02/2009 of the above-referred company, your nationality has been mentioned as British," the notice said.On April 20, BJP MP GVL ...
MHA serves notice to Rahul Gandhi on complaint questioning citizenship
The Home Ministry has served a notice to Congress President Rahul Gandhi, asking him to clarify within a fortnight his "factual position" on a complaint questioning his citizenship status. In a letter, the Home Ministry said it has received arepresentation from BJP MP Subramanian Swamy in which it has been brought out that a company named Backops Limited was registered in the United Kingdom in2003 with Rahul as one of its directors. The Home Ministry said Swamy's letter also mentioned that in the British company's annual returns filed on October 10, 2005 and October 31, 2006, Rahul's date of birth has been given as June 19, 1970 and had declared his nationality as British. "Further, in the dissolution application dated February 17, 2009 of the above referred company, your nationality has been mentioned as British. "You are requested to intimate the factual position in the matter to this Ministry within a fortnight of the receipt of this communication," the Home Ministry notice issued .
Max India exploring new businesses after divesting healthcare, health insurance
Multi-business corporate Max India plans to enter new areas of business after selling its hospitals and health insurance subsidiaries.Analjit Singh-led group is currently in the middle of selling 51 per cent stake in its health insurance joint venture Max Bupa to private equity firm True North. The process is likely to be completed in the next six months.The company has also undertaken a transaction which will result in its demerger into two listed entities.The first entity, created from a merger of Max Healthcare with the KKR backed hospital operator Radiant Life Care, will be India's third largest corporate hospital chain with over 3,200 beds and 16 hospitals.It will be automatically listed on the Indian stock exchanges, said Max India in regulatory filings after market closing hour on Monday.The other demerged entity, which has currently been named as Advaita, will own the group's senior living business -- Antara Senior Living. It will also manage a corpus of over Rs 500 crore ...
Yes Bank tanks 30% after Q4, rating downgrades
Yes Bank fell up to 30 per cent on the NSE on Tuesday after the private lender reported a weak earning results for the fourth quarter and multiple rating agencies downgraded its stock.
Jet tells staff it can not provide Mediclaim
Faced with severe liquidity crisis, grounded Jet Airways has informed employees that it will not be able to fund the premium of Group Mediclaim Policy and advised them to take medical cover of their choice.
Volumes spurt at Mindtree Ltd counter
Mindtree Ltd notched up volume of 327.92 lakh shares by 10:48 IST on BSE, a 1148.25 fold spurt over two-week average daily volume of 28559 shares