Page 48 - Business Finance
Japan Nikkei edges up with eyes on trade
The Tokyo market made a dismal start following a fallback on Wall Street on Friday. The market was dampened further by selling of semiconductor-related issues prompted by U.S. chipmaker Broadcom Inc.'s forecast of a substantial sales decline for the year ending in October. The Nikkei, however, returned to positive territory in the afternoon. Although the key index lost steam later, it managed to stay above the previous session's closing level for the rest of Monday's trading.
Maha spent Rs 4.9 k cr on drought relief in 2018-19: Economic
The Maharashtra government made available Rs 4909.50 crore for drought relief in 2018-19, the state Economic Survey revealed Monday, adding that the total affected area was 85.76 lakh hectare spread over 151 talukas. It said the scarcity situation during the Kharif season of the just-ended fiscal affected 151 talukas in 26 district, comprising 112 talukas which reeled under severe drought and 39 talukas that experienced moderate drought. Further it informed that, during April 2018, some 5094 hectare were affected by untimely rain and hailstorm, for which compensation to the tune of Rs 8.15 crore was sanctioned in December. In May last year, 1,741 hectare were affected by rain and hailstorm for which Rs 2.93 crore was sanctioned in December. The survey stated that annual budget for agriculture and allied activities sectors in 2018-19 in the annual credit plan was Rs 85,464 crore. On the agriculture credit front, it said, during 2017 -18, primary credit societies disbursed
Refined soya oil futures rise by 0.31 pc
Refined soya oil prices increased 0.31 per cent to Rs 741.5 per 10 kg in futures market Monday as speculators created fresh positions. On the National Commodity and Derivatives Exchange, refined soya oil contracts for July delivery went up by Rs 2.3, or 0.31 per cent, to Rs 741.5 per 10 kg with an open interest of 50,200 lots. Similarly, refined soya oil for August delivery traded higher by Rs 2.3, or 0.32 per cent, at Rs 728.9 per 10 kg in 18,830 lots. Analysts said fresh positions built up by traders against restricted arrivals from growing regions, mainly led to the rise in refined soya oil prices at futures trade.
Jet Airways (India) Ltd leads losers in 'A' group
PC Jeweller Ltd, Vakrangee Ltd, Cox & Kings Ltd and Jaiprakash Associates Ltd are among the other losers in the BSE's 'A' group today, 17 June 2019.
Shriram Transport tumbles after Piramal Enterprises offloads entire stake
Shriram Transport Finance Company fell 5.69% to Rs 1,020 at 14:25 IST on BSE after Piramal Enterprises sold its entire stake in the company.
Arihant Foundations & Housing Ltd leads losers in 'B' group
Hubtown Ltd, Manaksia Aluminium Company Ltd, Kwality Ltd and Oil Country Tubular Ltd are among the other losers in the BSE's 'B' group today, 17 June 2019.
Volumes soar at Shriram Transport Finance Company Ltd counter
Shriram Transport Finance Company Ltd clocked volume of 307.51 lakh shares by 14:19 IST on NSE, a 19.17 times surge over two-week average daily volume of 16.04 lakh shares
Lufthansa shares plunge after profit warning
Shares in German airline giant Lufthansa plunged more than 12 percent on Monday after the group posted a profit warning. At 0753 GMT, the shares were down 12.5 percent at 15.48 euros, underperforming Frankfurt's main DAX index which was up 0.12 percent. In a statement issued late Sunday, the Frankfurt-based group said it now expects to reach an operating margin of between 5.5 to 6.5 percent, down from an earlier estimate of 6.5 to 8.0 percent. The revision in its annual targets corresponds to an operating profit of between 2.0 to 2.4 billion euros ($2.2 -2.7 billion). The outlook also factors in a fuel cost increase of 550 million euros. Further, it said it would set aside 340 million euros over "tax risk" linked to a case in Germany between 2001 and 2005. Lufthansa plunged into the red in the first quarter of this year, but when they were announced it April it had stuck to its annual targets.
Negative growth in 2018-19 Maha crop production: Economic
Crop production in Maharashtra is expected to see negative growth of 8 per cent in the 2018-19 fiscal due to severe drought in several parts of the state, the Economic Survey tabled in the state Legislature Monday revealed. Agriculture and the allied sector on a whole is expected to grow at 0.4 per cent, a decline when compared to last year's 3.1 per cent rise, the survey further stated. The state's economy is expected to grow by 7.5 per cent during 2018-19, same as the Gross State Domestic Product growth clocked last year. The industry sector is expected to grow by 6.9 per cent, lower than last year's 7.6 per cent, and the service sector by 9.2 per cent, better than last year's 8.1 per cent, the survey revealed. Maharashtra's per capita income was Rs 1,91,827, third behind Karnataka at Rs 2,07,062 and Andhra Pradesh's Rs 1,43,935. The gross irrigated area to gross cropped area ratio was not provided in the survey for the seventh year in a row. In 2009-10, when the ...
Emami Ltd falls for fifth straight session
Emami Ltd is quoting at Rs 325.6, down 1.91% on the day as on 13:24 IST on the NSE. The stock tumbled 14.67% in last one year as compared to a 8.4% rally in NIFTY and a 3.56% spurt in the Nifty FMCG index.
Godrej Consumer Products Ltd extends losses
Godrej Consumer Products Ltd is quoting at Rs 659.95, down 0.48% on the day as on 13:24 IST on the NSE. The stock tumbled 14.67% in last one year as compared to a 8.4% rally in NIFTY and a 3.56% spurt in the Nifty FMCG index.
Bajaj Auto Ltd tumbles 0.91%
Bajaj Auto Ltd is quoting at Rs 2846.55, down 0.91% on the day as on 13:24 IST on the NSE. The stock tumbled 1.68% in last one year as compared to a 8.4% rally in NIFTY and a 28.99% fall in the Nifty Auto index.
Divi's Labs firms up after USFDA concludes inspection at Andhra unit
Divi's Laboratories was up 1.44% to Rs 1548.85 at 14:10 IST on the BSE after the company said that the US drug regulator concluded inspection at Andhra Pradesh unit with zero 483 observations.
Dr Reddys Laboratories Ltd slips for fifth straight session
Dr Reddys Laboratories Ltd is quoting at Rs 2554.5, down 0.42% on the day as on 13:24 IST on the NSE. The stock jumped 7.07% in last one year as compared to a 8.4% rally in NIFTY and a 14.09% fall in the Nifty Pharma index.
Tech Mahindra Ltd eases for fifth straight session
Tech Mahindra Ltd is quoting at Rs 736.4, down 0.52% on the day as on 13:24 IST on the NSE. The stock jumped 3.64% in last one year as compared to a 8.4% rally in NIFTY and a 15.9% spurt in the Nifty IT index.
Tata Power Company Ltd slips for fifth straight session
Tata Power Company Ltd is quoting at Rs 64.6, down 0.84% on the day as on 13:24 IST on the NSE. The stock tumbled 13.87% in last one year as compared to a 8.4% rally in NIFTY and a 13.22% spurt in the Nifty Energy index.
RBL Bank Ltd down for fifth straight session
RBL Bank Ltd is quoting at Rs 617.95, down 1.27% on the day as on 13:24 IST on the NSE. The stock jumped 12.03% in last one year as compared to a 8.4% rally in NIFTY and a 14.81% spurt in the Nifty Bank index.
Huawei founder says to cut output by $30 billion in 2019-20
The founder of Huawei said Monday the embattled Chinese telecom giant would slash production over the next two years as it grapples with a US push to isolate the company internationally. "In the coming two years, the company will cut production by $30 billion," Ren Zhengfei said during a panel discussion at corporate headquarters in Shenzhen. Huawei earned just over $100 billion in revenue in 2018. But Ren, who compared Huawei to damaged aircraft, added that he expected the company to get back on its previous trajectory by 2021. "In 2021, we will regain our vitality and (continue to) provide services to human society," he said. Huawei has emerged as a key bone of contention in the wider China-US trade war that has seen tit-for-tat tariffs imposed on hundreds of billions of dollars worth of goods. President Donald Trump's administration has essentially banned Huawei from the huge US market and barred American tech companies from supplying the Chinese company with vital components ...
Sensex, Nifty hit fresh intraday low
Key indices further extended losses and hit fresh intraday low in afternoon trade. At 13:29 IST, the barometer index, the S&P BSE Sensex, was down 366.57 points or 0.93% at 39,085.50. The Nifty 50 index was down 111.25 points or 0.94% at 11,712.05.
RICS appoints esteemed industry leaders to its South Asia Board
A number of esteemed industry professionals and leaders have been appointed as Members of the RICS South Asia Board, in order for the organisation to draw upon their experience and expertise.This would help RICS to embed international standards, benchmark competency frameworks and promote professionalism across the length and breadth of the built environment sector.The following leading professionals are now part of the RICS South Asia Board and will serve the tenure of three years in this role:* Ameya Gumaste MRICS - Country Manager, Turner and Townsend* Anshul Jain FRICS - MD - India Operations, Cushman and Wakefield* Prof Chitra Weddikkara - Managing Director, Qserve (Pvt) Ltd (Sri Lanka)* Ramesh Nair FRICS - CEO and Country Head, JLL India* Sangeeta Prasad - CEO, Mahindra Lifespace Developers Ltd.* Satish Magar - MD, Magarpatta City and President, CREDAI* SC Dixit FRICS - Executive Director and President - Engineering and ...