Page 473 - Business Finance
Stock markets drift with negative bias, Yes Bank falls 25 pc
Equity benchmark indices opened on a flat note and slipped into negative territory on Tuesday as the trading hours progressed.All sectoral indices except IT were in the red. The drag was led by losses in financial stocks.At 10:15 am, the BSE S & P Sensex was down 274 points at 38,793 while the NSE Nifty slipped 88 points to 11,666.Yes Bank lost over 25 per cent following bad corporate results for Q4 of FY 19. IndusInd Bank and Indiabulls Housing Finance slipped more than 6 per cent each while Bharti Infratel and Sun Pharma were down over 3 per cent.However, Asian Paints, Indian Oil, HCL Tech, Tech Mahindra and Dr Reddy showed marginal gains.Meanwhile, Asian shares fell as data on China's manufacturing activity failed to meet expectations.Official and private business surveys pointed to slower Chinese factory growth in April, disappointing investors who were hoping for a faster expansion due to government stimulus package.
Samsung profits fall 60%, Galaxy S10 selling stronG
Hit by weak demand in the memory chips and displays, Samsung Electronics on Tuesday reported a massive 60 per cent drop in operating profit (year-on-year) in the first quarter of 2019.
Yes Bank tumbles after reverse turnaround in Q4
Yes Bank slumped 24.85% to Rs 178.40 at 09:51 IST on BSE after the bank reported net loss of Rs 1506.64 crore in Q4 March 2019 as compared with net profit of Rs 1179.44 crore in Q4 March 2018.
China factory activity softens despite stimulus
China's factory activity softened in April, official data showed Tuesday, in the latest sign that the world's second-largest economy remains on uneven footing despite a raft of government stimulus measures. The Purchasing Managers' Index (PMI), a key gauge of factory conditions, came in at 50.1 for the month, down from 50.5 in March, the National Bureau of Statistics said. The reading is below analyst forecasts but remains above the 50.0 level separating expansion from contraction. "The latest survey data disappoint hopes for a further recovery," said Julian Evans-Pritchard of Capital Economics. "The official PMIs suggest that (the second quarter) got off to a weaker start and reinforce our view that there are still some downside risks to near-term activity," he said in a note. Growth in factory activity from last month and new orders softened, while raw material inventories declined. Tepid global demand and a trade war with Washington that has seen tariffs slapped on more than USD ...
Alphabet stock down 7% over slow ad growth
Alphabet, Google's parent company, saw its stock tumbling 7 per cent after the company suggested that recent ad product changes in YouTube and Search are hurting its top-line growth.
Indian equities react to weak Chinese factory data
The key equity indices opened on a dull note on Tuesday taking cues from the Asian markets which fell after China reported a weaker than expected manufacturing data.
Sensex falls 150 points on foreign fund outflow in early trade
The BSE benchmark Sensex Tuesday plunged over 150 points to slip below the 39,000-mark in early trade amid capital outflows by foreign funds and mixed global cues. However, a strengthening rupee and global crude oil prices restricted further losses in equity markets, brokers said. The 30-share index dropped 154.60 points, or 0.40 per cent, to 38,912.73 in early morning trade, after touching a high of 39,068.67. Similarly, the NSE Nifty declined by 19.75 points, or 0.44 per cent, to 11,703.30. Top losers in the Sensex pack include Yes Bank, IndusInd Bank, Sun Pharma, HeroMoto Corp, and Maruti. On the other hand, the gainers in the lot include HCL Tech, HDFC Bank, Asian Paints, Infosys, Hindustan Uniliver, Axis Bank and ONGC. On Friday, the Sensex closed 336.47 points, or 0.87 per cent, higher at 39,067.33. The NSE Nifty too ended 112.85 points, or 0.97 per cent, up at 11,754.65. Domestic equity markets were closed Monday due to elections in Mumbai. Meanwhile, Chinese manufacturing ...
Indiabulls Real Estate Ltd Slips 6.69%, S&P BSE Realty Index index Shed 2.36%
Indiabulls Real Estate Ltd has added 27.11% over last one month compared to 3.48% fall in S&P BSE Realty Index index and 0.69% rise in the SENSEX
Rupee rises 32 paise to 69.70 vs USD in early trade amid easing crude prices
The rupee appreciated by 32 paise to 69.70 against the US dollar in opening trade Tuesday, amid easing crude prices and weakening of the greenback vis-a-vis some currencies overseas. The rupee opened strong at 69.83 at the interbank forex market, then gained further ground to touch 69.70 per dollar, displaying gains of 32 paise against the greenback over its previous close. The local unit, however, pared some gains and was quoted at 69.79 against the American currency at 0943 hrs, displaying gains of 23 paise over its last close. The rupee had rebounded by 23 paise to close at 70.02 against the US dollar Friday. Currency market was shut on Monday due to general elections in Mumbai. Forex dealers said, selling of the American currency by exporters supported the rupee. Besides the decline in Brent crude oil prices from a six-month high of USD 75.60/barrel also supported investor sentiment in the forex market. Brent crude, the global benchmark, was trading at 71.93 per barrel lower by ...
Max India exploring new lines of businesses after divesting Healthcare and Health Insurance
Max India's 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 received from the divestment of Max Bupa.
Hero MotoCorp drops after poor Q4 result
Hero MotoCorp lost 2.31% to Rs 2,544 at 09:21 IST on BSE after net profit fell 24.51% to Rs 730.32 crore on 7.8% fall in total income to Rs 8049.18 crore in Q4 March 2019 over Q4 March 2018.
Bharat Petroleum Corporation Ltd Spikes 2.32%
Bharat Petroleum Corporation Ltd has lost 4.24% over last one month compared to 0.22% gain in S&P BSE Oil&Gas index and 0.92% rise in the SENSEX
Market trades lower on negative Asian cues
Key benchmark indices were trading lower in early trade, tracking negative leads from other Asian markets. At 9:34 IST, the barometer index, the S&P BSE Sensex, was down 112.12 points or 0.29% at 38,955.21. The Nifty 50 index was down 38.25 points or 0.33% at 11,716.40.
Shares may witness selling
Market is seen opening lower tracking negative leads from other Asian markets.
Dell Technologies, Microsoft expand Cloud partnership
In a bid to accelerate digital transformation and address a wider range of customer needs, Dell Technologies and Microsoft have extended their partnership at the "Dell Technologies World 2019" to deliver a fully native, supported and certified VMware Cloud infrastructure on Azure.
Marriott to launch luxury home-sharing platform
Hotel chain Marriott International on Monday announced the launch of an online rental platform for luxury homes -- joining the likes of home-sharing giant Airbnb. Starting next week, the group will offer around 2,000 high-end homes in certain areas of the US, Europe, the Caribbean and Latin America, the US firm said in a statement. "The launch of Homes & Villas by Marriott International reflects our ongoing commitment to innovation as consumer travel needs evolve," commercial director Stephanie Linnartz said. The launch follows a successful pilot program, she added. Marriott, which owns brands including Sheraton and Ritz-Carlton, will allow customers using the new platform to earn loyalty points that can be put toward new bookings. The firm is the first hotel group to delve into the home-sharing sector, with competitors including Hilton and Hyatt also exploring the industry, according to The Wall Street Journal. Marriott said users of its new platform can expect to see properties .
US stocks close higher; Alphabet falls
US stocks closed higher as Wall Street braced for a busy week, featuring a new wave of corporate results.
US to ensure adequate oil supplies in global market: Pompeo
US Secretary of State Mike Pompeo said that the US would seek to stabilise global oil market after Washington's decision not to extend sanctions waivers for Iran oil purchase.
Spotify records 217 million monthly active users in Q1, 2019
Spotify recorded an uptick in its monthly active users in Q1, 2019 at 217 million after a 26 per cent growth.The music streaming service expanded its global market footprint to 79 countries by launching in India in late February, where it recorded more than 1 million users in the first week itself.It now boasts more than 2 billion users in India, Spotify noted in its official release. Meanwhile, premium subscribers grew to 100 million, up by 32 per cent.In terms of total revenue, Spotify recorded a 33 per cent increase at 1,511 million euros with premium revenue of 1,385 million euros in Q1 growing 34 per cent.Ad-supported revenue grew 24 per cent at 126 million euros and the average revenue per user was 4.71 euros in Q1.
Boeing says regulators to test 737 MAX software update by next week
Boeing expects US regulators will conduct a test flight of a software fix for the grounded 737 MAX by the end of next week, a company spokesman said Monday. Boeing expects the certification of the software fix -- a key step in returning the planes to the skies -- some time after the Federal Aviation Administration meeting with international regulators on May 23, the spokesman said. The plane was grounded worldwide in mid-March following a second deadly crash, but US carriers have said they expect to resume flights on the popular 737 MAX over the summer.