Page 487 - Business Finance
Edelweiss Financial Services Ltd slips for fifth straight session
Edelweiss Financial Services Ltd is quoting at Rs 160.9, down 2.22% on the day as on 13:24 IST on the NSE. The stock tumbled 35.68% in last one year as compared to a 9.23% rally in NIFTY and a 16.65% fall in the Nifty Financial Services index.
Tata Motors Ltd drops for fifth straight session
Tata Motors Ltd is quoting at Rs 216.7, down 2.32% on the day as on 13:19 IST on the NSE. The stock tumbled 35.68% in last one year as compared to a 9.23% rally in NIFTY and a 26.68% fall in the Nifty Auto index.
Jubilant Foodworks Ltd in demand
Jubilant Foodworks Ltd is quoting at Rs 1341.25, up 1.01% on the day as on 12:54 IST on the NSE. The stock is up 5.14% in last one year as compared to a 9.3% spurt in NIFTY and a 6.82% spurt in the Nifty FMCG index.
Silver futures rise 0.59% on firm global cues
Silver futures rose 0.59 per cent to Rs 37,679 per kg Friday after speculators raised bets, driven by a firm trend overseas. Silver contracts for delivery in May traded higher by Rs 222, or 0.59 per cent, at Rs 37,679 per kg in a business turnover of 12,712 lots at the Multi Commodity Exchange. Similarly, the white metal to be delivered in July advanced by Rs 197, or 0.52 per cent, to Rs 38,255 per kg in 8,898 lots. Analysts said widening of positions by traders, in sync with a firm trend overseas for precious metals, influenced silver prices at futures trade here. In the international market, silver traded higher by 1.24 per cent at USD 15.05 an ounce in Singapore.
Crude oil futures fall by Rs 70 amid weak trend overseas
Crude oil futures Friday eased by Rs 70 to Rs 4,567 per barrel as speculators reduced their exposure amid a weakening trend overseas. At the Multi Commodity Exchange, crude for delivery in May was trading lower by Rs 70, or 1.51 per cent, at Rs 4,567 per barrel in a business turnover of 20,722 lots. The oil for delivery in June also fell by Rs 64, or 1.37 per cent, to Rs 4,592 a barrel in 695 lots. Globally, West Texas Intermediate (WTI) crude slipped 0.46 per cent to USD 64.91, while Brent crude, the international benchmark, was down 0.17 per cent to USD 74.22 per barrel at the New York Mercantile Exchange.
UK firm to sell water-saving washing machine tech to India's IFB
UK-headquartered Xeros Technology Group informed the London Stock Exchange on Friday of its new tie-up with Indian home appliance manufacturer IFB for the supply of its water-saving technology. The agreement means that domestic and commercial washing machines incorporating the company's innovative Xeros technology will be made and sold in India by IFB Industries Ltd from 2020-2021. It marks the first time that the UK firm's XOrb technology will go to market in a domestic washing machine anywhere in the world, which the company claims will "change washing machines forever" by cutting down on water use in commercial machines by up to 80 per cent and domestic machines by up to 50 per cent. "This licensing agreement with the leading Indian OEM (original equipment manufacturer) for both the domestic appliance and commercial laundry markets is another major milestone in the commercialisation of our cleaning technologies," said Mark Nichols, Chief Executive of Xeros. "IFB's capabilities and .
Prasanna Kumar Rao wins Corporate Excellence award from Enterprise Asia
Prasanna Kumar Rao, Managing Director, Heidelberg Prominent Fluid Controls India Pvt. Ltd., received the Corporate Excellence award in the Manufacturing Industry, from Enterprise Asia of Malaysia for the year 2019, in a grand event which was conducted at Andaz, Hyatt Hotel, New Delhi."I am honoured to receive this prestigious award in recognition of our excellent products, services and contribution to the growth of this critical industry in India. It is a sign of the fact that top-notch products made in India are finding acceptance in leading international markets. Our team is responsible for the highest standards of quality, reliability and service", said Prasanna Kumar Rao.The prestigious Asia Pacific Entrepreneurship Award (APEA) from Enterprise Asia is a regional award recognition programme recognizing entrepreneurial excellence. The APEA bands together leading entrepreneurs and organizations across Asia to spur greater innovation, fair practices and growth in entrepreneurship, to
Aveva bets big on smart cities, airports in India
Aveva, a global leader in engineering and industrial software, is betting big on smart cities and smart airports as it looks to double its growth in India, which is also home to its largest research and development facility in the world.
Aurobindo Pharma Ltd soars 4.68%, rises for third straight session
Aurobindo Pharma Ltd is quoting at Rs 832.8, up 4.68% on the day as on 12:54 IST on the NSE. The stock is up 32.05% in last one year as compared to a 9.3% gain in NIFTY and a 5.84% gain in the Nifty Pharma index.
Jindal Stainless (Hisar) Ltd up for third straight session
Jindal Stainless (Hisar) Ltd is quoting at Rs 93.15, up 3.27% on the day as on 12:54 IST on the NSE. The stock is down 49.53% in last one year as compared to a 9.3% drop in NIFTY and a 19.25% drop in the Nifty Metal index.
Tata Consultancy Services Ltd spurts 1.37%
Tata Consultancy Services Ltd is quoting at Rs 2225, up 1.37% on the day as on 12:54 IST on the NSE. The stock is up 28.91% in last one year as compared to a 9.3% spurt in NIFTY and a 19.46% spurt in the Nifty IT index.
Bharat Petroleum Corporation Ltd rises for third straight session
Bharat Petroleum Corporation Ltd is quoting at Rs 371.5, up 3.7% on the day as on 12:49 IST on the NSE. The stock is down 4.78% in last one year as compared to a 9.3% jump in NIFTY and a 17.01% jump in the Nifty Energy index.
HCL Technologies sets up cyber security centre in Texas
IT services major HCL Technologies has set up a CyberSecurity Fusion Centre (CSFC) in Frisco, Texas, and said it will conduct training and college hiring programme in the US state. The opening of the CSFC represents the next phase in the company's mission to support secure business growth by providing customers with a single point of contact for the enterprise security lifecycle - from detection to remediation, HCL Technologies said in a statement late Thursday night. "The CSFC takes a multi-dimensional approach to combat security risks using integrated cyberthreat intelligence to monitor for better, faster detection and remediation of security incidents," it added. No investment details were disclosed. HCL has also unveiled a university-to-industry collaboration under which the IT firm will conduct on-campus hackathons. Overseen and coached by HCL executives, the top participants in the programme from winning teams at each school will be offered full-time jobs and advanced training ..
Gold up on positive global cues
Gold prices were up 0.08 per cent to Rs 31,937 per 10 gram in futures trade Friday as speculators raised their bets amid a firm global trend. At the Multi Commodity Exchange, gold contract for delivery in June was trading higher by Rs 26, or 0.08 per cent, at Rs 31,937 per 10 gram with a business turnover of 13,819 lots. The yellow metal for delivery in August gained Rs 36, or 0.11 per cent, to trade at Rs 32,116 per 10 gram in 9,043 lots. Market analysts attributed the rise in gold prices to positive global cues. Globally, gold was trading 0.48 per cent higher at USD 1,281.90 an ounce in Singapore.
Rallis India shares drop over 5% on disappointing March quarter earnings
The scrip of agriculture solutions firm Rallis India dropped over 5 per cent Friday after the company reported a 93 per cent fall in consolidated net profit for the fourth quarter of 2018-19. Shares of the company dropped 4.86 per cent to Rs 149.55 on the BSE. At the NSE, shares declined 5.41 per cent to Rs 149.25. Rallis India on Thursday reported a 93 per cent fall in consolidated net profit at Rs 1.35 crore for January-March 2019 due to poor sales. The firm had posted a net profit of Rs 19.58 crore in the corresponding period a year ago, it said in a BSE filing. Total income declined to Rs 350.64 crore during the quarter ended March from Rs 372.66 crore in the year-ago period.
JSPL produces 7.07 MT pellets in FY'19
Jindal Steel and Power Ltd (JSPL) Friday said its pellet production in 2018-19 stood at 7.07 million tonne (MT). The company achieved highest ever annual production and dispatch at its 9 MTPA pelletization complex at Barbil, Odisha with output of 7.07 MT pellets in the previous financial year, JSPL said in a BSE filing. JSPL produced 6.86 MT pellets in 2017-18. The company also informed that it has surpassed its previous monthly production records by clocking 6,77,000 tonne during March 2019. "The plant achieved the highest ever monthly pellet dispatch of 6,61,786 MT in March 2019. The cumulative dispatch during 2018-19 was 7.17 MT," it added. JSPL's pelletization complex in Odisha is India's largest single-location pellet manufacturing facility. Part of the USD 22 billion diversified O P Jindal Group, JSPL has a significant presence in core infrastructure sectors including steel, power, mining and infrastructure.
Telecom stocks decline
Key indices were trading with modest gains in early afternoon trade. At 12:28 IST, the barometer index, the S&P BSE Sensex, was up 102.10 points or 0.26% at 38,832.96. The Nifty 50 index was up 37.30 points or 0.32% at 11,679.10.
Online helicopter booking from May 1 for Amarnath Yatra
The online helicopter booking for the annual Amarnath Yatra will begin on May 1, according to an announcement on Friday.
Axis Bank shares gain over 3 pc post Q4 results
Axis Bank shares gained over 3 per cent Friday after the company reported a net profit of Rs 1,505 crore for the March quarter of 2018-19, driven by a significant decline in provisioning and higher interest income. The scrip rose by 3.25 per cent to Rs 765 on the BSE. On NSE, shares went up by 3.27 per cent to Rs 765.15. "Axis Bank reported strong Q4 FY19 results, with higher-than-expected profits of Rs 15 billion," as per a report by Emkay Global Financial Services. Axis Bank announced its earnings for the March quarter post market trading hours Thursday. The bank had a net loss of Rs 2,188 crore in the January-March quarter of 2017-18. Gross non-performing assets (NPAs) as a percentage of loans declined to 5.26 per cent in the March quarter of 2018-19, from 6.77 per cent in the same period in the previous fiscal, Axis Bank said in a filing to the BSE. The board of Axis Bank approved a dividend of Re 1 per equity share of Rs 2 each.
Banaras Beads Ltd leads gainers in 'B' group
Vishal Fabrics Ltd, MRO-TEK Realty Ltd, Electrotherm (India) Ltd and RPP Infra Projects Ltd are among the other gainers in the BSE's 'B' group today, 26 April 2019.