Page 59 - Business Finance
WPI inflation slips to 2.45 pc in May from 4.78 pc in April
The annual rate of inflation based on wholesale price index stood at 2.45 per cent in May compared to 4.78 per cent in the previous month, the government said on Friday.It was 3.07 per cent in May last year, according to a statement released by the Ministry of Commerce and Industry. The official wholesale price index for all commodities (base: 2011-12=100) for May 2019 rose by 0.2 per cent to 121.2.Build up inflation rate in the financial year so far was 1.08 per cent compared to a build-up rate of 1.72 per cent in the corresponding period of previous year.The index for primary articles group (with weightage of 22.6 per cent) rose by 0.2 per cent to 139.5 in May. Under this, the index for food articles group remained unchanged at its previous month level of 150.1.Fruits and vegetables declined by 2 per cent while tea and wheat dipped by 1 per cent each. The items which moved up were fish-marine by 7 per cent, arhar 5 per cent, peas, chawali and bajra 4 per cent each and egg 3 per ...
Zinc futures shed 0.05% on tepid demand
Zinc prices eased 0.05 per cent to Rs 203.70 per kg in futures trade Friday as speculators cut down positions, taking weak cues from the spot market. On Multi Commodity Exchange, zinc for delivery in current month declined by Rs 10, or 0.05 per cent, to Rs 203.70 per kg in a business turnover of 4,666 lots. Marketmen said weakness in metals in the domestic spot market owing to slackened demand from consuming industries mainly influenced prices.
Oil prices surge after suspected attacks on tankers
World oil prices have risen following suspected attacks on two tankers in the Gulf of Oman, worsening frayed tensions in the crude-rich Middle East region. The rise in oil prices - jumping as much as 4.5 per cent before pulling back somewhat - boosted share prices of energy companies, while global stock markets also won some support from the prospect of US interest rate cuts this year. The Gulf of Oman lies at the other end of the strategic Strait of Hormuz from the Gulf, part of a vital shipping lane through which at least 15 million barrels of crude oil and hundreds of millions of dollars of non-oil imports pass each day. US Secretary of State Mike Pompeo accused Iran of responsibility for the incidents and said the United States would raise the attacks at a UN Security Council meeting scheduled for later Thursday. Iran labelled the attacks "suspicious." US oil benchmark West Texas Intermediate for July delivery finished up 2.2 per cent at USD 52.28. The advance marked a reversal ...
Tech Mahindra approves change in directorate
With effect from 01 August 2019
Fuels, manufactured items ease India's May WPI to 2.45%
Lower prices of manufactured items and key transportation fuels eased India's annual rate of inflation based on wholesale prices to 2.45 per cent in May from 3.07 per cent in April, official data showed on Friday.
Gold futures surge on fresh bets
Gold prices edged up by Rs 331 to Rs 33,290 per 10 gram at futures trade Friday on firm demand by local jewellers at the spot markets in tandem with positive global sentiments. On the Multi Commodity Exchange, gold to be delivered in June contracts was up by Rs 331, or 1 per cent, to trade at Rs 33,290 per 10 gram in a business turnover of 18,187 lots. According to analysts, raising of bets by speculators at current levels mainly pushed up gold prices at futures trade here, along with strong trends overseas. Globally, gold was trading 1.01 per cent up at USD 1,357.30 an ounce in New York.
India's May wholesale inflation eases to 2.45%
India's annual rate of inflation based on wholesale prices ease to 2.45 per cent in May from 3.07 per cent in April, official data showed on Friday.
Jet Airways shares continue downward trend; tank 15 pc
Shares of Jet Airways further plunged nearly 15 per cent on Friday after stock exchanges decided to impose restrictions on its stock trading from June 28 earlier this week. The scrip tumbled 13.37 per cent to Rs 79.65 -- its multi-year low -- on the BSE. On NSE, the shares tanked 14.96 per cent to a multi-year low of Rs 78.15. Shares of Jet Airways had on Thursday also cracked nearly 18 per cent. Stock exchanges will impose restrictions on trading in Jet Airways shares from June 28 as part of preventive surveillance measures to curb excessive volatility, according to a circular. The cash-starved company suspended operations in April and lenders are working on ways for revival of the airline. In a circular on Wednesday, NSE said shares of the company would be shifted from "Rolling Segment to Trade for Trade Segment, wherein the settlement in the scrip will take place on gross basis with 100 per cent upfront margin and 5 per cent price band". There are restrictions in trading of shares .
Birlasoft wins award for its Smart Datacenter Management in Automation category
At 7th Datacenter Summit held in Bengaluru
Japan Nikkei ends higher
ECONOMIC NEWS: Japan Tertiary Activity Index Increases In April -- Japan's tertiary activity increased for the first time in three months in April, data from the Ministry of Economy, Trade and Industry showed on Thursday. The tertiary activity index rose 0.8% month-over-month in April, after a 0.2% decline in March. Among the individual components of the survey, activities were up for electricity, gas, heat supply and water, information and communications, living and amusement-related services, retail trade, finance and insurance, goods rental and leasing, wholesale trade, and transport and postal activities. Meanwhile, activity was down for real estate, medical, health care and welfare, and business-related services. On an annual basis, the tertiary activity index grew 1.6% in April, following a 0.9% rise in the previous month.
SPL Industries Ltd leads gainers in 'B' group
CIL Nova Petrochemicals Ltd, National Steel & Agro Industries Ltd, TGB Banquets & Hotels Ltd and Sanwaria Consumer Ltd are among the other gainers in the BSE's 'B' group today, 14 June 2019.
PV retail sales dip 1 pc in May: FADA
Automobile dealers' body FADA Friday said retail sales of passenger vehicles (PV) in May declined by 1 per cent to 2,51,049 units as compared to the same period last year. According to Federation of Automobile Dealers Associations (FADA), PV sales stood at 2,53,463 units in May 2018. Two-wheeler sales declined by 8.6 per cent to 14,07,361 units last month as compared with 15,40,377 units in the year-ago period. Commercial vehicle sales dropped by 7.8 per cent to 62,551 units against 67,847 units in May last year. Three-wheeler sales saw a dip of 4 per cent to 50,959 units last month from 53,108 units in the same period last year. Total sales across categories declined by 7.5 per cent to 17,71,920 units in May as against 19,14,795 units in the same month last year.
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Barometers hit fresh intraday low
Key benchmark indices extended losses to hit fresh intraday low in mid-morning trade. At 11:23 IST, the barometer index, the S&P BSE Sensex, was down 176.61 points or 0.43% at 39,570.65. The Nifty 50 index was down 62.35 points or 0.52% at 11,851.70.
Team Lease Services Ltd leads gainers in 'A' group
Dilip Buildcon Ltd, Infibeam Avenues Ltd, Great Eastern Shipping Company Ltd and Tata Communications Ltd are among the other gainers in the BSE's 'A' group today, 14 June 2019.
Hexaware acquires US-based Mobiquity for $182 million
IT consulting firm Hexaware Technologies on Friday announced the acquisition of US-based Mobiquity Inc for 182 million dollars (about Rs 1,260 crore) to expand its cloud and automation service offerings.With a global presence across three continents, Mobiquity is one of the largest independent customer experience consulting firms that specialises in creating multi-channel digital experiences using cloud technologies. It creates digital products for well-known global brands like Amazon Web Services, Rabobank, Philips, Wawa, Backbase and Otsuka."Mobiquity strengthens two of our key strategic offerings: cloudify everything and customer experience transformation," said Hexaware Technologies CEO, R Srikrishna."We are seeing a strong demand for these capabilities. With this acquisition, we will be able to further accelerate our contributions to our customers' business growth. Both Hexaware and Mobiquity have created very strong impact for their clients and have a mutually complementing ...
RITES spurts on mulling bonus shares
RITES was up 4.86% to Rs 290.35 at 11:12 IST on the BSE after the company announced that a board meeting will be held to consider issue of bonus shares.
IFFCO FY19 net profit down 10 pc at Rs 841 cr, turnover up 34 pc at Rs 27,852 cr
Fertiliser co-operative IFFCO has posted 10 per cent decline in its net profit at Rs 841.58 crore during the last fiscal year despite rise in income. Its net profit stood at Rs 937.17 crore in the 2017-18 financial year. Turnover of the co-operative rose by 34 per cent to Rs 27,851.74 crore during 2018-19, from Rs 20,787.55 crore in the previous year. On operational front, IFFCO's total production of fertilisers increased to 81.49 lakh tonnes last fiscal year, from 78.71 lakh tonnes in the previous year, according to data available on the company's website. Out of total fertilisers production in 2018-19, urea output was 45.62 lakh tonnes and DAP (di-ammonium phosphates) was 14.19 lakh tonnes. IFFCO sold 115.56 lakh tonnes of fertilisers last fiscal year, as against 103.03 lakh tonnes in 2017-18. Out of total sales, urea stood at 74.20 lakh tonnes and DAP at 21.19 lakh tonnes. The co-operative had achieve its best operational performance in 2015-16 fiscal, with production at 86.52 lakh
Volumes spurt at GRUH Finance Ltd counter
GRUH Finance Ltd registered volume of 77.11 lakh shares by 10:49 IST on BSE, a 138.92 fold spurt over two-week average daily volume of 55510 shares
RBI to inject durable liquidity through OMO purchase auction
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