Page 514 - Business Finance
Over 10% voting in UP LS polls (9 a.m.)
Over 10 per cent voting was recorded for the 10 Lok Sabha seats in Uttar Pradesh on Tuesday, according to an election official.
JSPL completes first-ever rail order ahead of schedule
Jindal Steel and Power Ltd (JSPL) Tuesday said it has completed delivery of its one lakh tonne first-ever rail order, which the firm had bagged from the Indian Railways. In July last year, JSPL had received from the national transporter an order of one lakh tonne rails, to be supplied within a year. "In a significant development, JSPL has completed delivery of first ever rail order to supply rails to Indian Railways. The company had bagged 20 per cent of the Rs 2,500 crore global tender by the Railways to supply long rails," JSPL said in a BSE filing. The order, which was to be completed over a period of one year, has been completed ahead of the scheduled time, JSPL Joint Managing Director N A Ansari said. He also said that recently JSPL bagged an additional order of 30,000 tonne long rails from the Indian Railways. "We are proud to contribute to government's Make In India initiative. These achievements are testament to the capability of our team as well as our valued partnership with
Essel Propack inches up as Blackstone Group to acquire majority stake
Essel Propack rose 0.34% to Rs 133.10 at 11:03 IST on BSE after Blackstone commits up to $460 million to acquire a majority stake in the company.
JSPL completes delivery of first order to Railways ahead of schedule
Jindal Steel and Power Limited (JSPL) said on Tuesday that it has completed the delivery of its first order to supply rails to Indian Railways.In July 2018, JSPL had bagged 20 per cent of the Rs 2,500 crore global tender which saw the participation of seven leading global manufacturers. It was the only company to have technically qualified for the tender.JSPL was mandated to supply 97,400 tonnes of rails to the national transporter over a period of one year.It started dispatching the first consignments of rails on August 15 last year from its Raigarh plant and completed delivery of total quantities on April 22, almost four months ahead of schedule.Indian Railways recently placed an additional order of about 30,000 tonnes of rails with JSPL, which enhances the initial order size by over 30 per cent."We are proud to have contributed to the government's Make in India initiative and complete such a challenging project far ahead of schedule," said Joint Managing Director Naushad Akhter ...
Volumes jump at Tejas Networks Ltd counter
Tejas Networks Ltd saw volume of 92798 shares by 10:48 IST on BSE, a 12.18 fold spurt over two-week average daily volume of 7621 shares
BEML ties-up with Syndicate Bank for financing of equipment
Under the MOU, BEML will nominate Syndicate Bank as a preferred financer for financing its customers. The customers under the tie-up arrangement will be provided loans in the range of Rs. 20 lakh to Rs. 3 crore and preferential pricing by Syndicate Bank. Financing Equipment of BEML will be covered under 'SPECIAL' scheme of the Bank.
Hindustan Copper rises as board to consider fundraising via QIP
Hindustan Copper rose 1.77% to Rs 49 at 10:38 IST on BSE after the company said its board will meet on 25 April 2019, to consider raising funds through qualified institutional placement of shares.
Australia Market gains 0.8%; Energy shares lead on jump in oil prices
Energy stocks climbed up on rising oil prices on a supply squeeze. The United States said it will eliminate all waivers that allowed eight countries to buy Iranian oil without facing U.S. sanctions, in its latest step to choke off Iranian oil exports. Most major local oil & gas producers were benefiting with the likes of Woodside, Santos, and Oil Search all rising more than 2%.
Market trims gains
Stocks trimmed gains in morning trade after an initial upmove. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 64.82 points or 0.17% at 38,710. The Nifty 50 index was up 23.10 points or 0.2% at 11,617.55.
Sensex below 38,700 in early trading, Nifty around 11,600
Equity benchmark indices turned volatile during early trading on Tuesday with stocks of oil marketing firms continuing to be the negative territory on worries over rising global crude oil prices.At 10:15 am, the BSE S & P Sensex was up 35 points at 38,680 while the NSE Nifty was up 6 points to 11,601.All sectoral indices were trading in the green on National Stock Exchange except the Nifty IT index, which down 0.3 per cent due to a marginal appreciation in the Indian rupee.Among stocks, Zee Entertainment gained by nearly 4.5 per cent. Other winners included Indiabulls Housing Finance, Yes Bank, ONGC and Dr Reddy's Labs.But state-owned GAIL was down by over 3 per cent. Other which lost included Bharat Petroleum Corporation Ltd, Larsen & Toubro, Adani Ports and Infratel.Meanwhile, Asia stocks rose marginally as many markets reopened after the long Easter break. But there are growing concerns about tight global supplies after the United States announced a further clampdown on ..
Mixed finish for US stocks
investors await earnings reports at Wall Street
Japan Stocks mixed on profit booking
Total 25 issues out of 33 subsectors of the Tokyo Stock Exchange inclined, with shares in Mining, Oil & Coal Products, Land Transportation, Electric Power & Gas, and Precision Instruments issues being notable gainers, whereas Other Products, Glass & Ceramics Products, Rubber Products, and Textiles & Apparels issues were notable losers.
Self-driving Tesla robotaxi coming in 2020: Musk
Tesla CEO Elon Musk has said that the electric car maker is ready to fly autonomous robotaxis from 2020.
LS polls: 8.21 pc voter turnout in Maha by 9 am
An average 8.21 per cent voter turnout was recorded in the first two hours in 14 seats of Maharashtra where polling for the third phase of Lok Sabha elections was underway on Tuesday, an official said. Polling began at 7 am and long queues were seen outside many booths. The Ratnagiri-Sindhudurg constituency reported 10.9 per cent voting till 9 am, followed by Kolhapur, where there was around 9.97 per cent polling, according to the state election office. The voting figures in other constituencies are as follows: Jalgaon -7.81 per cent, Raver-8.48 per cent, Jalna- 9.21 per cent, Aurangabad-8.77 per cent, Raigad-9.35 per cent, Pune-5.7 per cent, Baramati-8.54 per cent, Ahmednagar-7.37 per cent, Madha-6.85 per cent, Sangli-7.04 per cent, Satara-6.84 per cent and Hatkanangale-8.98 per cent. State BJP president Raosaheb Danve (Jalna) and NCP chief Sharad Pawar's daughter Supriya Sule (Baramati) are among the prominent candidates in the fray.
Rupee rises 9 paise against US dollar in early trade
The rupee appreciated by 9 paise to 69.58 against the US dollar on Tuesday ahead of the RBI's second round of dollar-rupee swap auction. The currency was also buoyed on reports that India has lined up alternate sources to make up for likely shortfall in crude supplies, forex dealers said. Besides, a positive start of the equity markets influenced the recovery of the rupee, they added. However, a strong US dollar against major global currencies capped gains of the domestic unit. The Reserve Bank of India (RBI) is set to inject long-term liquidity worth USD 5 billion into the banking system through dollar-rupee buy-sell swap for a tenure of three years, the second such auction within a month. At the Interbank Foreign Exchange market, the domestic unit opened higher at 69.63 against the dollar then rose further to quote at 69.58, up 9 paise over its previous close. The rupee had declined by 32 paise to a two-week low of 69.67 against the US dollar Monday. According to the dealers, the ...
Sensex rebounds over 180 pts; Nifty above 11,600
The benchmark BSE Sensex rebounded over 180 points in early trade Tuesday led by gains in index heavyweights RIL, HDFC Bank and ITC, amid unabated foreign fund inflow. The 30-share index was trading 152.78 points or 0.40 per cent higher at 38,797.96. The NSE Nifty too rose to 40.35 points or 0.35 per cent to 11,634.80. In the previous session, the BSE bourse settled 495.10 points, or 1.26 per cent, lower at 38,645.18; while the broader Nifty tumbled 158.35 points, or 1.35 per cent, to close at 11,594.45. Equities took a beating Monday as macroeconomic worries resurfaced. The Trump administration decided not to renew waiver that let countries like India buy Iranian oil without facing US sanctions. However, investor sentiment turned positive in early trade Tuesday on reports that India has lined up alternate sources to make up for the likely shortfall in supplies after the US decided not to give waiver from its sanctions for buying oil from the Persian Gulf nation, traders said. Top ...
Board of Frontier Informatics approves preferential allotment of 3.82 cr shares
At meeting held on 22 April 2019
Cipla appoints President and Global Chief People Officer
In her role at Cipla, Raju will oversee Human Resources, and Administration and Facilities Management. She will be a member of the Management Council of Cipla, and will report to Umang Vohra, Managing Director & Global Chief Executive Officer.
Jindal Steel & Power completes delivery of rails to Indian Railways
JSPL was to supply 97,400 tonnes of rails to the national transporter over a period of one year. JSPL started dispatching the first consignments of rails on 15 August, 2018 from its Raigarh plant and completed delivery of total quantities on 22 April, 2019, almost 4 months ahead of schedule.
KSK Energy Ventures Ltd Falls 4.5%
KSK Energy Ventures Ltd has added 17.78% over last one month compared to 1.24% fall in S&P BSE Utilities index and 1.61% rise in the SENSEX