Page 58 - Business Finance
Tata Communications International, Singapore divests its 26% stake in STT Tai Seng
Tata Communications continues to maintain 26% stake in the India Data Centre business of STT GDC and the Company continues to benefit from the rub off effect on its network services due to this investment.
Board of Spice Mobility approves allotment of 38,083 shares under scheme of arrangement
At meeting held on 14 June 2019
Gold surges Rs 300 on fresh buying, strong global trend
Gold prices rose by Rs 300 to Rs 33,870 per 10 gram in the bullion market here Friday on fresh buying by jewellers and a firm trend overseas, according to the All India Sarafa Association. Tracking gold, silver also surged by Rs 550 to Rs 38,400 per kg on increased offtake by industrial units and coin makers. Sentiment in the domestic market was upbeat on the back of increased buying by jewellers and a firming trend in global markets, bullion traders said. "Spot gold rose to USD 1,358 an ounce in the international market, its highest level since April 2018. Geopolitical concerns especially from the Middle East and feeble economic releases from China and the US raised the metal's safe-haven demand. "Weak global growth forecast amid growing trade war tensions and hopes of US interest rate cut stoked investors towards the yellow metal. Gold usually trades higher during times of economic or political uncertainties," said Hareesh V, Head-Commodity Research, Geojit Financial ...
WPI Inflation dips to 22-month low of 2.45% in May 2019
Core WPI inflation eases to 1.2% in May 2019
Jet Airways (India) Ltd leads losers in 'A' group
Jaiprakash Associates Ltd, Reliance Capital Ltd, GRUH Finance Ltd and Syngene International Ltd are among the other losers in the BSE's 'A' group today, 14 June 2019.
Salona Cotspin Ltd leads losers in 'B' group
Manaksia Aluminium Company Ltd, Beardsell Ltd, Bannari Amman Spinning Mills Ltd and Kwality Ltd are among the other losers in the BSE's 'B' group today, 14 June 2019.
Intellect Design Arena gains on sale of subsidiary
Intellect Design Arena was up 2.62% to Rs 272 at 14:13 IST on the BSE, after the company announced that it had sold its subsidiary SFL Properties.
Guar gum futures fall on rising stockpiles
Guar gum prices plummeted by Rs 26 to Rs 8,607 per 5 quintal in futures trade Friday amid offloading of exposure by investors in sync with a weak trend in physical markets. On the National Commodity and Derivatives Exchange, guar gum contracts for July delivery moved down by Rs 26, or 0.03 per cent, to Rs 8,607 per 5 quintal with an open interest of 58,565 lots. Similarly, guar gum contracts for August moved down by Rs 22, or 0.25 per cent, to Rs 8,740 per 5 quintal with an open interest of 4,665 lots. Marketmen said soaring stocks against muted demand from guar gum makers mainly led to the fall in guar gum futures.
NINL begins production of own brand of TMT bars; to expand
Neelachal Ispat Nigam Limited (NINL) in Odisha has started production of its own brand of TMT bars, with plans to expand the volume of value- added products. This will be a significant step in the turnaround of the NINL, a company official said Friday. The company aims to initially produce about 10,000 tonnes of its brand of "NINL SMART TMT" bars in a month from billets, produced at its state-of-the-art steel melting shop in Kalinga Nagar plant, the official said. Sashi Shekhar Mohanty, Vice-Chairman and Managing Director of NINL said, "This will be a game changer for the company. In the coming days, the quantity of value-added products will go up as the NINL has invited 'Expression of Interest' for setting up of TMT bar-cum-rod mill." The company has achieved important milestones in the last two years by executing capital repair of its blast furnace in April, 2018 and by resuming billet production from the steel melting shop in December. The company's iron ore mines ...
RBI has scope for another interest rate cut due to lower WPI inflation: Ind-Ra
India Ratings and Research (Ind-Ra) said on Friday that a key driver of lower wholesale inflation has been manufactured products where inflation declined to 1.28 per cent in May compared to 1.72 per cent in April.Even fuel group inflation dropped to 1 per cent compared with 3.8 per cent in the previous month due to softening of global crude prices. Further, the core inflation at 1.2 per cent in May is at a 29-month low."This is clearly an indication of the weakening of demand impulse in the economy. Dwindling auto and FMCG sales growth has been pointing towards this for past several months," said Sunil Kumar Sinha, Ind-Ra's Director for Public Finance and Principal Economist.However, despite lower wholesale inflation stress is emerging in the food articles category, he said. Here inflation is higher in single digit. Besides, some cereals like jowar, bajra and maize have witnesses double-digit inflation now for the fourth consecutive month.This against the backdrop of delayed and less .
Australia Market gains 0.18%
The Fed's June 18-19 meeting will give investors an opportunity to see if the Fed's monetary policy stance is in sync with growing number of economists expect a Fed rate cut this year but the majority still expect it to stay on hold.
Maharashtra's six districts to be diesel-free, says Nitin Gadkari
Union Minister Nitin Gadkari on Friday said that he has taken up an initiative of making six selected districts in Maharashtra diesel-free for a period of five years."I have taken up a program to make six districts - Nagpur, Bhandara, Gondia, Chandrapur, Gadchiroli and Wardha - diesel-free. I have decided that even a drop of diesel will not be there in these districts for five years. It's a difficult job... I have set up six factories where bio-CNG will be made for trucks and buses... Currently, 50 buses are running on that... Organic farming is the future," Gadkari said at the CII National Council meeting.Gadkari, who is looking after the Ministry of Road Transport and Highways along with Ministry of Micro, Small and Medium Enterprises, said that alternative sources of funding should be harnessed."We must look forward to alternative sources for financing beyond banks," Gadkari said.He further shared that in the past five years, around Rs 17 lakh crore was invested in the transport ...
Market turns range bound
Key equity indices were trading in a narrow range with modest losses in mid-afternoon trade. At 14:23 IST, the barometer index, the S&P BSE Sensex, was down 202.43 points or 0.51% at 39,538.93. The Nifty 50 index was down 62.30 points or 0.52% at 11,851.75.
Market turns range bound
Key equity indices were trading in a narrow range with modest losses in mid-afternoon trade. At 14:23 IST, the barometer index, the S&P BSE Sensex, was down 202.43 points or 0.51% at 39,538.93. The Nifty 50 index was down 62.30 points or 0.52% at 11,851.75.
Volumes jump at GRUH Finance Ltd counter
GRUH Finance Ltd witnessed volume of 344.97 lakh shares by 14:19 IST on NSE, a 53.53 times surge over two-week average daily volume of 6.44 lakh shares
Lead futures slip 0.26 pc on subdued spot demand
Lead prices eased by 0.26 per cent to Rs 154 per kg in futures trade Friday as investors trimmed their holdings amid subdued demand at the spot market. On the Multi Commodity Exchange, lead for delivery in this month was trading lower by 40 paise, or 0.26 per cent, at Rs 154 per kg in a business turnover of 5,889 lots. Marketmen said, a weak trend in base metals due to slackened demand from battery-makers mainly exerted pressure on lead futures here.
Online mutual fund investment platform FundzBazar launches 'Selfiewala KYC' feature for first-time mutual fund investors
Online mutual fund investment platform FundzBazar announces the release of its new feature called 'Selfiewala KYC' for first-time mutual fund investors.The feature is hassle-free and investors can complete their KYC process from the comfort of their home or office using mobile or laptop in just a few minutes."The special thing about this feature is that it allows investors to do their IPV (In-Person Verification) themselves by uploading a video and a selfie. This feature will speed up the KYC process and save time," said an official of FundzBazar.The 5 simple steps investors have to follow to complete their KYC are:1) Upload and enter Proof of Address, Date of Birth2) Upload PAN Card3) Take and upload a clear video of face, speak the name and show Address Proof4) Take and upload clear Selfie5) Download Signature Declaration form, sign it and upload itAs this feature is integrated with the FundzBazar account opening process, investors need to sign up and ...
Nickel strengthens 1.25 pc on spot demand
Nickel prices edged up by 1.25 per cent to Rs 878.20 per kg in futures trade Friday amid pick-up in demand from alloy-makers at the domestic spot market. At the Multi Commodity Exchange, nickel to be delivered in June contracts was trading higher by Rs 10.80, or 1.25 per cent, to Rs 878.20 per kg with a business turnover of 7,961 lots. Analysts said expansion of positions by traders tracking pick-up in demand from alloy-makers in the spot market mainly supported nickel prices here.
Silver futures up 0.93% on global cues
Silver futures traded higher by 0.93 per cent to Rs 37,450 per kg Friday after speculators raised bets, driven by a firm trend overseas. On the Multi Commodity Exchange, silver for delivery in July contracts was up by Rs 345, or 0.93 per cent, to Rs 37,450 per kg in a business turnover of 19,496 lots The white metal to be delivered in far-month September contracts, too, rose sharply by Rs 355, or 0.95 per cent, to Rs 37,848 per kg in 6,883 lots. Analysts said, widening of positions by traders in sync with a firm trend on global markets for precious metals mainly influenced silver prices at futures trade here. In the international market, silver traded higher by 0.93 per cent at USD 15.03 an ounce in New York.
Zee Media Corporation Ltd drops for fifth straight session
Zee Media Corporation Ltd is quoting at Rs 12.5, down 1.19% on the day as on 13:24 IST on the NSE. The stock in last one year as compared to a 9.55% in NIFTY and a 34.28% lost in the Nifty Media index.