Page 533 - Business Finance
Air India keen on taking 5 grounded Jet Boeings
Air India wants to take 4-5 wide-body Boeing 777 aircraft of the now-grounded Jet Airways and may hold discussions for it with the airline's lead lender State Bank of India (SBI).
SpiceJet continues its big run; shares zoom 15 pc
Shares of SpiceJet continued their best performance for the fifth day in a row, zooming 15 per cent Thursday, following the company's plans to expand its fleet. The scrip jumped 14.99 per cent to Rs 152.60 -- its 52-week high -- on BSE. SpiceJet Thursday said it will induct six more Boeing 737-800 NG aircraft on dry lease. "These six aircraft are in addition to the 16 B737s and 5 Q400s that the airline will soon induct. The total number of planes to be inducted in the immediate future now stands at 27," the company said in a BSE filing Thursday. The airline has applied to the Directorate General of Civil Aviation for a No Objection Certificate (NOC) to import the planes. Subject to regulatory approvals the aircraft would begin joining SpiceJet's fleet in the next ten days, it added. Ajay Singh, Chairman and Managing Director, SpiceJet said, "we are taking all possible proactive measures to deal with the sudden reduction of aviation capacity in the Indian market. SpiceJet continues to .
DGCA to seek credible revival plan from Jet Airways, says official
With cash-starved Jet Airways suspending operations, aviation regulator DGCA Thursday said it will ask the airline for a "concrete and credible" revival plan, as well as extend help within the regulatory framework. A senior official of the Directorate General of Civil Aviation (DGCA) also said the regulator would take action in accordance with due procedure under relevant regulations. After weeks of uncertainty, Jet Airways Wednesday announced temporary suspension of its operations as it did not receive emergency funds to stay afloat. The DGCA would be asking the company for concrete and credible revival plan to restart the suspended operations, the official said. According to the official, the watchdog would also endeavour to do its best to help the company revive its operations within the set regulatory framework. Lenders are carrying out the bidding process for stake sale in the ailing airline, which has a debt burden of more than Rs 8,000 crore. Against the backdrop of capacity ...
India Anti-Money Laundering (AML) Software Market to Reach $86.7 Million by 2023
/ -- According to a new market intelligence report by BIS Research, titled 'Global Anti-Money Laundering (AML) Software Market - Analysis and Forecast, 2018-2023', the global anti-money laundering software market was estimated at $868.0 million in 2017 and is expected to reach $1.77 billion by 2023. It is estimated that the AML software market in India, which accounted for approximately 4.09% of the global market in 2017, will reach $86.7 million by 2023, growing at a CAGR of 15.71% during the forecast period (2018-2023). (Logo: https://mma.prnewswire.com/media/495163/BIS_Research_Logo.jpg ) Browse 52 market Data Tables and 104 Figures spread through 220 Pages and in-depth TOC on 'Global AML Software Market' The growth in the AML software market in India can be significantly attributed to the factors such as regulatory compliance requirements of financial institutions with international regulatory bodies along with increased volume of wired transactions. Money laundering has been a ..
Soybean futures eased by Rs 16 per quintal
Soybean prices fell by Rs 16 to Rs 3,777 per quintal in futures trade Thursday 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 16, or 0.42 per cent, to Rs 3,777 per quintal with an open interest of 55,650 lots. Soybean for delivery in May also eased by Rs 15, or 0.4 per cent, to Rs 3,730 per quintal with an open interest of 1,52,460 lots. Marketmen said the fall in soybean prices at futures trade was mostly due to reduction of exposure by participants. Besides, weakness at the physical market kept pressure on the commodity prices.
Amazon to pull plug on China retail operations
Amazon plans to close down its online retail operations that cater to consumers in China in an apparent admission of defeat to local e-commerce rivals such as Alibaba and JD.com, a report said on Thursday. The US e-commerce pioneer will maintain other operations in China such as Amazon Web Services (AWS), Kindle e-books and cross-border teams that help ship goods from Chinese merchants to customers abroad, Bloomberg News said, citing unidentified people familiar with the plans. Beginning on July 18, the company's Chinese website, Amazon.cn, will featured only diminished offerings sourced from its global network, the report said. An Amazon spokesperson did not explicitly confirm plans to throw in the towel on domestic e-commerce, but said the company was looking to focus more on cross-border sales. "Over the past few years, we have been evolving our China online retail business to increasingly emphasise cross-border sales, and in return we've seen a very strong response from Chinese ...
Turmeric futures slide 1.67% on low demand
Turmeric prices fell 1.67 per cent to Rs 6,606 per quintal in futures market Thursday on account of easing demand from retailers and industrial buyers at the spot market. Further, ample stocks position following higher supplies from the producing belts mainly fuelled the downtrend. On the National Commodity and Derivatives Exchange, turmeric for delivery in July declined by Rs 112, or 1.67 per cent, to Rs 6,606 per quintal with an open interest of 65 lots. The spice for delivery in June gained Rs 42, or 0.65 per cent, to Rs 6,524 per quintal in a business turnover of 4,920 lots. Market analysts said offloading of positions by traders because of fall in demand at the domestic spot market against adequate stock position on increased supplies mainly exerted pressure on turmeric prices here.
Board of MSP Steel & Power appoints director
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Sensex, Nifty trade near day's low
Key barometers were trading near day's low in early afternoon trade. At 12:21 IST, the barometer index, the S&P BSE Sensex, was down 114.20 points or 0.29% at 39,161.44. The Nifty 50 index was down 42.25 points or 0.36% at 11,744.90.
Opensignal releases mobile network experience report for India
Opensignal, a mobile analytics firm, has released its latest mobile network experience report for India. According to the report, Jio continues to increase its 4G availability, with the highest national score ever recorded. Jio's score of 4G availability rose to 97.5 per cent, highest at a country level and Airtel recorded the greatest growth in 4G availability as its score jumped by over 10 percentage points to cross 85 per cent.The report examines 90 days - from December 01, 2018 to take a deep dive into the mobile experience on the networks of India's key five operators Airtel, BSNL, Idea, Jio and Vodafone, both at a national level and across all 22 of the country's telecoms circle.The key findings of the report are:India's 4G Availability just keeps risingJio continues to astound, growing its 4G Availability to 97.5 per cent - the highest national recorded by Opensignal. But Airtel showed the greatest growth in this category, as its average score jumped by over 10 percentage ...
Mahindra, Ford sign pact to co-develop mid-size sports utility vehicle
Mahindra Group and Ford Motor Company on Thursday signed an agreement to co-develop a mid-size sports utility vehicle for fast-growing markets in India and other emerging economies.This follows a strategic alliance between the two companies in September 2017 and an announcement on powertrain sharing and connected car solutions in October 2018.The compact sports utility vehicle (C-SUV) will have a common Mahindra product platform and powertrain, thus driving engineering and commercial efficiencies."Having identified several areas for joint development, both companies will continue to work together to develop products using common product platforms," said M & M's Managing Director Pawan Goenka. "This will reduce product development costs and gain economies of scale," he said.Jim Farley, President of Ford for New Businesses, Technology and Strategy, said: "Ford's technological leadership combined with Mahindra's successful operating model and product prowess will surely help us ...
Jeera futures up 1.43 pc on rise in demand
Jeera prices rose 1.43 per cent in futures trade Thursday as participants created fresh positions, taking positive cues from spot market. Besides, tight stock positions on restricted arrivals from the growing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, jeera for delivery in June rose by Rs 240, or 1.43 per cent, to Rs 17,030 per quintal with an open interest of 987 lots. Similarly, jeera for delivery in May went up by Rs 200, or 1.2 per cent, to Rs 16,850 per quintal with a business turnover of 6,996 lots. Marketmen said besides pick-up in demand in the spot market, less arrivals from producing belts mainly led to a rise in jeera futures.
Office space supply up 46 pc in Jan-Mar at 13.4 mn sq ft in 9 top cities: CBRE
Office space supply rose by 46 per cent during January-March period in the nine major cities to 13.4 million sq ft as real estate developers look to cater rising demand of commercial areas from corporates and co-working operators, according to CBRE data. The supply stood at 9.2 million sq ft in the January-March period of 2018 in the nine cities -- Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, Ahmedabad and Kochi. Hyderabad witnessed a sharp jump in supply to 5.2 million sq ft from 0.7 million sq ft during the period under review. The increase in supply was because of rising demand of office space in Hyderabad, which for the first time overtook Bengaluru, at 3.5 million sq ft in the January-March period of 2019. As per the data, in the Delhi-NCR, the office space supply rose to 1.5 million sq ft in the first quarter of 2019 calendar year, from 1.2 million sq ft in the year-ago period. Office space supply went up in Chennai to 0.5 million sq ft from 0.2 million sq ...
Essar Shipping Ltd leads gainers in 'B' group
Allied Digital Services Ltd, 5Paisa Capital Ltd, Electrotherm (India) Ltd and Radaan Mediaworks (I) Ltd are among the other gainers in the BSE's 'B' group today, 18 April 2019.
Coriander futures up 1.15% on spot demand
Coriander prices rose 1.15 per cent to Rs 7,383 per quintal in futures market Thursday as participants built-up fresh positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing regions weighed on coriander prices. At the National Commodity and Derivatives Exchange, coriander for June edged higher by Rs 84, or 1.15 per cent, to Rs 7,383 per quintal with an open interest of 6,380 lots. Similarly, coriander for May delivery shot up by Rs 82, or 1.14 per cent, to Rs 7,282 per quintal with an open interest of 29,490 lots. Market analysts attributed the rise in coriander futures to upsurge in demand at the physical market against tight stocks position.
SpiceJet Ltd leads gainers in 'A' group
Max Financial Services Ltd, Ipca Laboratories Ltd, Tata Motors-DVR and Deepak Fertilizers & Petrochemicals Corp Ltd are among the other gainers in the BSE's 'A' group today, 18 April 2019.
Major polling divide in Karnataka in 4 hours
Low to moderate voting was witnessed in the first fours on Thursday for the 14 Lok Sabha constituencies in the central and southern Karnataka, an official said.
Benchmarks trim losses
Key equity benchmarks trimmed losses in mid-morning trade. At 11:22 IST, the barometer index, the S&P BSE Sensex, was down 47.22 points or 0.12% at 39,228.42. The Nifty 50 index was down 17.70 points or 0.15% at 11,769.45.
Jet Airways shares crack 30 pc; drop to 52-week low
Shares of Jet Airways plummeted over 30 per cent in early trade Thursday, a day after the ailing airline shuttered its operations temporarily. On the BSE, the scrip hit an intra-day low of Rs 168.60, a fall of 30.28 per cent compared to the previous closing level. The stock is hovering around its 52-week low level of Rs 163 on BSE. Similar trend was witnessed on the NSE too, where the share crashed to hit a low of Rs 158.70, down 34.01 per cent over its last close, which is also its 52-week low level. With lenders deciding not to extend any emergency funds, Jet Airways on Wednesday announced temporary suspension of operations. Meanwhile, in a statement early Thursday, Jet Airways' lenders said they were reasonably hopeful of a successful bidding process for stake sale. The announcement came early morning ahead of market opening. Market analysts said the decline in the stock was largely a knee-jerk reaction of the temporary suspension of operations for the struggling airline.
SpiceJet jumps on plans to induct more planes
SpiceJet gained 7.95% to Rs 143.25 at 11:05 IST on BSE after the company said that it will induct six more Boeing 737-800 NG aircraft on dry lease.