Page 513 - Business Finance
Indian Bank slips for fifth straight session
Indian Bank is quoting at Rs 255, down 0.53% on the day as on 13:24 IST on the NSE. The stock tumbled 17.23% in last one year as compared to a 9.5% rally in NIFTY and a 13.64% spurt in the Nifty PSU Bank index.
Network 18 Media & Investments Ltd eases for fifth straight session
Network 18 Media & Investments Ltd is quoting at Rs 33.4, down 1.18% on the day as on 13:24 IST on the NSE. The stock tumbled 34.76% in last one year as compared to a 9.5% rally in NIFTY and a 28.72% fall in the Nifty Media index.
Eicher Motors Ltd slips for fifth straight session
Eicher Motors Ltd is quoting at Rs 20312.8, down 0.43% on the day as on 13:19 IST on the NSE. The stock tumbled 34.76% in last one year as compared to a 9.5% rally in NIFTY and a 23.58% fall in the Nifty Auto index.
Suryoday Small Finance Bank starts ops in Hyderabad
Maharashtra-based Suryoday Small Finance Bank (SSFB) launched its operations here Tuesday with the inauguration of its first branch. MD and CEO of Suryoday Small Finance Bank, Baskar Babu said, "the lender focuses on ensuring financial inclusion of the un-banked and under-banked through innovative banking practices and continues to expand its reach in states where it currently does not have a presence. We are happy to start our banking operations in Telangana with our first bank branch in Hyderabad and we will offer one of the most competitive interest rates on deposits to our customers because of our robust business model with low operating costs," he said in a press release. He further said the bank has completed two years of operations as a Small Finance Bank and plans to continue building a healthy book and generate wealth for our customers.
Indegene AI-driven Next Generation Commercialization Platform Launches Yosprala
/ -- Indegene, a leading transformational partner to lifesciences industry, today disrupted the traditional biopharma launch and commercialization model with the next generation AI-driven launch of Yosprala for secondary CAD and stroke prevention. (Logo: https://mma.prnewswire.com/media/661882/Indegene_Logo.jpg ) Indegene's AI-driven Next Generation Commercialization Platform incorporates sophisticated predictive analytics, proprietary library of digital customer insights, Omnipresence CRM technology and intelligent content to provide a fundamentally new way of launching brands and driving accelerated peak sales through optimized dollar spends. Indegene's Yosprala launch is a landmark departure from the traditional commercialization approaches that have burdened biopharma companies with hefty costs and extended lead times. Gaurav Kapoor, Executive Vice President, Indegene, said, "The pharma industry is looking for new ways to launch and commercialize its products. The current model ..
China Market extends fall on talks of less stimulus
Top-ranking policymaking bodies including the Politburo, the State Council, the central bank and the Central Financial and Economic Affairs Commission have all held meetings in the last two weeks.
Amazon to close its online biz in China: Report
Retail giant Amazon will withdraw its domestic e-commerce marketplace business in China, effective from July 18, but will keep operating its other business sections, including Amazon Web Services, Kindle e-books and cross-border operations.
IHCL ties up with Sankalp In for Taj hotel in Ahmedabad
Tata Group hospitality arm Indian Hotels Company (IHCL) Tuesday said it has tied up with diversified group Sankalp In for a Taj hotel in Ahmedabad. This will be the company's fourteenth hotel in Gujarat, IHCL said in a statement. The partnership highlights the growth momentum of the company and is a great addition to IHCL's domestic portfolio, IHCL MD and CEO Puneet Chhatwal said. The hotel, slated to open in early 2020, will have 315 rooms, the statement said. IHCL operates 179 hotels including 30 under development globally across 4 continents, 12 countries and in over 80 locations.
Prepared to deal with impact of US decision to end waiver for importing Iran oil: India
India on Tuesday said it is "adequately prepared" to deal with the impact of the US decision to end waiver for importing oil from Iran and that it will continue to work with Washington and other partner countries to find "all possible ways" to protect its energy and economic security interests.
Digital Infrastructure To Play Major Role In Reviving Indian Economy
Co-founder and Chairman of Infosys Technologies, Nandan Nilekani said yesterday that India's digital infrastructure will play a major role in reviving the economy, according to a latest update from Federation of Indian Chambers of Commerce and Industry (FICCI). Nilekani made these comments while addressing FICCI members at the National Executive Committee Meeting on 'Digital India and its Impact on Economy and Industry' in Bengaluru.
Government Announces Sale Of Four Dated Securities For Rs 17,000 crore
Government of India (GoI) has announced the sale (issue/re-issue) of four dated securities for Rs 17000 crore. These include 7.32% GS 2024 ( Rs 5,000 crore), 7.26% GS 2029 (Rs 6,000 crore), GS 2043 ( Rs 2,000 crore) and 7.72% GS 2049 (Rs 4,000 crore). Subject to the limit of Rs 17000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to Rs 1000 Cr each against any one or more of the above security.
Indices trade in small range
Key indices hovered in a small range in positive zone in early afternoon trade. At 12:27 IST, the barometer index, the S&P BSE Sensex, was up 97.90 points or 0.25% at 38,743.08. The Nifty 50 index was up 30.85 points or 0.27% at 11,625.30. Realty stocks saw mixed trend. Cement shares rose.
Landmark Property Development Company Ltd leads gainers in 'B' group
GTN Industries Ltd, Salona Cotspin Ltd, Neuland Laboratories Ltd and Jaiprakash Power Ventures Ltd are among the other gainers in the BSE's 'B' group today, 23 April 2019.
Jet Airways shares halt three-day slide; zoom 13 pc
Shares of Jet Airways (India) Limited halted its three-day decline and surged 13 per cent Tuesday on value buying at lower levels. The scrip, after a positive opening, jumped 11.57 per cent to Rs 172.50 on the BSE. At the NSE, shares zoomed 13 per cent to Rs 174.95. In the past three days, the scrip had plummeted 40.94 per cent. Running into debt of more than Rs 8,500 crore, Jet Airways has shut down operations temporarily after lenders decided against extending emergency funds for its survival. Cash-starved Jet Airways, which has around 23,000 employees, has delayed payment of salaries to the employees, including pilots.
RattanIndia Finance bets big on MSME growth
RattanIndia Finance, a joint venture between Rajiv Rattan and US-based private equity, Loan Star funds has launched MSME loans to facilitate easier credit access to MSMEs. The company plans to cater the MSME segment with its retail lending offering which is powered by a newly developed technology platform and backed by strong data analytics to provide customers with an easy and seamless experience. MSMEs can avail a range of financial solutions vis-a-vis access to business loans, working capital, invoicing and supply chain financing which will help them accelerate their growth.RattanIndia Finance aims to build USD 1 billion loan book in three years and has already built Rs 1200 crore loan book across corporate, retail & amp; SME segment. The company had launched its unsecured and secured loan offering for SME customers late last calendar year."MSMEs play a crucial role in the economic and social development of the country. Our key objective at RattanIndia Finance is to empower ...
Jeera futures up on positive demand
Jeera prices rose 0.56 per cent to Rs 17,100 per quintal in futures trade Tuesday on higher physical and export demand. "Exports of jeera is up 20.8 per cent on year in January at 9,429 tn compared to 7,800 tn last year while for Apr-Jan period it is up 24.75 per cent at 1.46 lt, compared to last year", according to Directorate General of Commercial Intelligence and Statistics (DGCIS). At the National Commodity and Derivatives Exchange, jeera for delivery in June rose by Rs 95, or 0.56 per cent, to Rs 17,100 per quintal, with an open interest of 1,215 lots. Likewise, the contract for May was trading higher by Rs 70, or 0.41 per cent, at Rs 16,975 per quintal with an open interest of 6,723 lots.
Jet Airways (India) Ltd leads gainers in 'A' group
Zee Entertainment Enterprises Ltd, Dewan Housing Finance Corporation Ltd, Reliance Capital Ltd and Linde India Ltd are among the other gainers in the BSE's 'A' group today, 23 April 2019.
Capacit'e Infraprojects bags orders worth Rs 342.38 cr
Construction firm Capacit'e Infraprojects Tuesday said it has bagged two orders worth Rs 342.38 crore from private sector clients for construction of commercial and residential buildings at Mumbai. "The repeat order further reinforces the trust which existing clients place on Capacit'e. We remain confident of delivering these projects within the stipulated timelines," Capacit'e Infraprojects Managing Director Rahul Katyal said. The company had recently also bagged a Rs 483-crore project from Municipal Corporation of Greater Mumbai (MCGM) for redevelopment of a hospital. Capacit'e provides end-to-end construction services for housing, commercial hospitals, hotels and industrial projects. Shares of Capacit'e Infraprojects were trading 1.03 per cent higher at Rs 231.25 apiece on BSE.
Market breadth turns negative
Stocks hovered in positive zone in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 74.20 points or 0.19% at 38,719.38. The Nifty 50 index was up 17.65 points or 0.15% at 11,612.10. Telecom stocks declined.
IBA submits memo to RBI on resolution of stressed assets (IANS Special)
The Indian Banks Association (IBA) has submitted a memorandum to the Reserve Bank of India (RBI) on resolution of stressed assets.