Page 503 - Business Finance
E-sports platform Mobile Premier League raises $35.5 mn
Mobile e-sports or gaming platform, Mobile Premier League (MPL), has raised $35.5 million (around Rs 244 crore)in a Series A funding round led by Sequia India, Times Internet and GoVentures, MPL said on Wednesday.
China Market gains as tech-share rally eases monetary policy concerns
The People's Bank of China injected 267.4 billion yuan funds to select commercial banks via its targeted medium-term lending facility (TMLF) on Wednesday as it looks to provide struggling smaller business with a steady stream of affordable financing. The move reinforced views PBOC is now leaning more on targeted tools to direct funding to parts of the economy that are still struggling, rather than more sweeping system-wide cash infusions measures - such as reserve ratio cuts - used over the past year when there were worries of a sharper slowdown in the world's second-largest economy. Expectations of further stimulus in China have shifted markedly since the release of better-than-expected first-quarter GDP and March economic data last week, which suggested the economy may be starting to steady after a flurry of earlier growth-boosting measures.
Indices extend gains
Stocks extended gains and hit intraday high in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 237.11 points or 0.61% at 38,801.99. The Nifty 50 index was up 81.55 points or 0.7% at 11,657.50. Telecom stocks gained.
MovingNow - a Distinct Category Leader in the Logistics Space in India
/ -- Starting in Hyderabad from 2 seats cramped into a cabin back in 2016 to setting up dedicated regional office in Bengaluru and Mumbai in 2018 and having successfully raised the 1st round of funding, the story of MovingNow's growth is nothing short of meteoric. With doubled up projected revenues for 2019 and illustrious customers like JK Tyres, Water Health, Govt. of Telengana and other large companies in just 2 years after inception, it is emerging as a distinct category leader in the logistics space in India. (Photo: https://mma.prnewswire.com/media/876449/MovingNow.jpg ) MovingNow is a tech-enabled logistics startup in India that provides consumers with automated pricing for local movement of goods, using their proprietary pricing algorithm, and offers shipment negotiations to home and industry customers for both Part and Full truck load for long distance transportation. They offer services from an array of Packers and Movers and Transporters with spare capacity trucks where ...
FYERS launches School of Stocks for Traders
The technology-focused stockbroking firm FYERS launches School of Stocks for Traders. The platform will help in educating readers on the Indian capital markets, trading & amp; investments.It's an education platform which is available for free and will be regularly updated with fresh content to help people constantly learn and explore the capital markets.The platform is committed to help increase the knowledge about trading & amp; investments and the goal is to help people understand all the important concepts from ground-up. The material is structured in modules and chapters. One can get a brief understanding of what you're going to learn beforehand by reading the description mentioned in the table of contents. While reading, if you want to bookmark or mark a reference to any particular section on School Of Stocks, click on any lesson, paragraph or sub-heading to generate a unique URL (link).The idea of this platform is to simplify what is perceived as a very complicated ...
VRS package may save Rs 1,080 cr in annual salary tab: MTNL chief
The Voluntary Retirement Scheme (VRS) being proposed by the telecom department could save Rs 1,080 crore in annual wage expenses for Mahanagar Telephone Nigam Ltd (MTNL), and the telco expects about 9,500 employees to opt for the scheme as and when it comes up, according to its chairman. The Department of Telecom (DoT) has prepared a rescue plan for the distressed PSUs, MTNL and Bharat Sanchar Nigam Ltd (BSNL), in form of a revival package that entails components like VRS, asset monetisation, and allocation of 4G spectrum. According to sources, the revival plan may be taken up by the cabinet soon. MTNL Chairman and Managing Director PK Purwar told PTI recently that the telecom corporation expects annual salary expenses to reduce by Rs 1,080 crore, from the current about Rs 2,500 crore - bringing it to far more managable levels of 40-50 per cent of revenue. "We are expecting that nearly 50 per cent of the targeted employees may (opt for it)... 19,000 employees will be offered and we ...
Hyundai Motor swings back to black with Q1 profit
South Korea's largest automaker Hyundai Motor bounced back in the first three months from its first quarterly loss in eight years on strong domestic demand for its new sport utility vehicles, the company said Wednesday. Net profit during the January to March period rose 30 percent from a year earlier to 954 billion won (US$830 million), Hyundai said in a statement. The increase came after the firm reported its first quarterly loss in eight years for October-December 2018. "Strong sales of newly released vehicles including the G90 and the Palisade led to an improvement in profitability," Hyundai said. The launch of the Palisade, Hyundai's flagship SUV model, helped boost domestic volume by 8.7 percent, it said, but global sales dropped 4.9 percent -- to 837,420 cars -- as demand remained low in key markets such as the US and China. Hyundai forecast global demand to pick up with the launch of new models in China and added it will focus on emerging markets including India and the ASEAN ..
Sebi restrains Hotel Leela from selling properties to Brookfield
Cash-strapped Hotel Leelaventure Wednesday said capital markets regulator Sebi has barred it from selling its four hotels and other assets to Canadian investment fund Brookfield Asset Management till further directions. On March 18, Hotel Leelaventure Ltd (HLVL) had announced sale of its four hotels located in Bengaluru, Chennai, Delhi and Udaipur, as well as a property to Canadian investment fund Brookfield for Rs 3,950 crore. It had sought shareholders approval and voting is scheduled to end on April 24. The Securities and Exchange Board of India (Sebi) in its letter to Hotel Leelaventure said it has received representations from ITC, which has also moved the National Company Law Tribunal against Hotel Leelaventure alleging "oppression and mismanagement", and minority shareholder Life Insurance Corporation (LIC). Diversified group ITC has made certain alllegations against HLVL, its promoters and JM Finanacial Asset Reconstruction Company Ltd with respect to postal ballot notice ...
Tata Global Beverages slides after weak Q4 earnings
Tata Global Beverages fell 1.12% to Rs 207.20 at 13:46 IST on BSE after consolidated net profit declined 61.48% to Rs 22.90 crore on 5.16% rise in net sales to Rs 1775.46 crore in Q4 March 2019 over Q4 March 2018.
Gold futures up on higher demand
Gold prices rose by Rs 32 to Rs 31,594 per 10 gram in futures trade Wednesday as participants created fresh positions on spot demand. However, equity gains and strengthening dollar capped the gains in the precious metal. On the Multi Commodity Exchange, gold contracts for delivery in June traded higher by Rs 32, or 0.1 per cent, at Rs 31,594 per 10 gram in a business turnover of 13,843 lots. The gold for delivery in August also rose by Rs 15, or 0.05 per cent, to Rs 31,740 per 10 gram in 3,089 lots. Market analysts said the rise in gold prices at the futures trade was mostly due to widening of positions by participants in the domestic markets. Globally, gold was trading higher by 0.23 per cent at USD 1,272.28 an ounce in Singapore.
National Aluminium Company Ltd down for fifth straight session
National Aluminium Company Ltd is quoting at Rs 52.7, down 0.94% on the day as on 13:24 IST on the NSE. The stock tumbled 31.69% in last one year as compared to a 9.72% rally in NIFTY and a 19.14% fall in the Nifty Metal index.
MOIL Ltd eases for fifth straight session
MOIL Ltd is quoting at Rs 155.95, down 0.35% on the day as on 13:24 IST on the NSE. The stock in last one year as compared to a 9.72% in NIFTY and a 19.14% lost in the Nifty Metal index.
Coromandel International jumps after good Q4 outcome
Coromandel International rose 3.51% to Rs 441.30 at 11:16 IST on BSE after consolidated net profit rose 23.18% to Rs 110.38 crore on 9.39% rise in net sales to Rs 2638.34 crore in Q4 March 2019 over Q4 March 2018.
LS polls: 62.37 pc polling in Maha in third phase
An average 62.37 per cent voter turnout was recorded across 14 seats in Maharashtra where polling for the third phase of Lok Sabha elections took place on Tuesday, as per the final figures released by the state election office. In the 2014 Lok Sabha polls, the average polling across these seats was 62.88 per cent, an election official said on Wednesday. Polling was held on Tuesday in Jalgaon, Raver (north Maharashtra), Jalna, Aurangabad (Marathwada), Raigad, Ratnagiri-Sindhudurg (Konkan), Pune, Baramati, Madha, Sangli, Satara, Kolhapur, Hatkanangale (western Maharashtra) and Ahmednagar seats. Kolhapur recorded the highest voter turnout at 70.7 per cent, followed by Hatkanangale, where 70.28 per cent polling was recorded, the official said. The constituencies of Baramati, Aurangabad, Ahmednagar, Madha, Sangli and Satara this time saw more voter turnout as compared to the 2014 general elections, according to the official figures. This time, Jalgaon recorded 56.12 per cent
Sensex, Nifty trade with small gains
Key equity benchmarks were trading with small gains in afternoon trade. At 13:22 IST, the barometer index, the S&P BSE Sensex, was up 55.22 points or 0.14% at 38,620.10. The Nifty 50 index was up 17.95 points or 0.16% at 11,593.90.
Xiaomi aims 10,000 retail stores in India by 2019
Making a big push for offline sales in India, Chinese smartphone maker Xiaomi, which opened its 1,000th "Mi Store" in the country is on track to reach the target of having 10,000 retail stores by the end of this year, a top company official said on Wednesday.
Modi remains unchallenged No. 1 choice to be PM: CVOTER-IANS tracker
Narendra Modi continues to be the overwhelming first choice of the voters to become Prime Minister staying ahead of his distant rival Rahul Gandhi by leaps and bounds, according to the latest finding of the CVOTER-IANS tracker.
Soybean futures fall on weak demand
Soybean prices fell by Rs 8 to Rs 3,767 per quintal in futures trade Wednesday as traders cut down their positions amid weak cues from physical markets. At the National Commodity and Derivatives Exchange, soybean to be delivered in June moved down by Rs 8, or 0.21 per cent, to Rs 3,767 per quintal with an open interest of 76,770 lots. Soybean for delivery in July also eased by Rs 3, or 0.08 per cent, to Rs 3,810 per quintal with an open interest of 2,630 lots. The fall in soybean prices at futures trade was mostly due to reduction of exposure by participants, marketmen said.
Board of Systematix Securities approves change in directorate and appoints CFO & CS
At meeting held on 22 April 2019
Long Term Strategy Needed To Reduce Vulnerability Of India's Farming Community
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