Page 60 - Business Finance
Sensex, Nifty continue trading lower
Key benchmark indices continued trading lower in morning trade. At 10:23 IST, the barometer index, the S&P BSE Sensex, was down 89.84 points or 0.23% at 39,651.52. The Nifty 50 index was down 31.26 points or 0.26% at 11,882.85
Equities on downward slide amid global trade tensions
Equity benchmark indices continued their downward slide during early hours on Friday amid ongoing concern that trade frictions may jeopardise global economic growth.Except for IT and metal, all sectoral indices at the National Stock Exchange (NSE) traded lower. The losses were more pronounced in energy, FMCG, pharma and private banks.At 10:15 am, the BSE S & P Sensex was down 105 points at 39,636 while the Nifty 50 dipped 38 points to 11,876.Among stocks, Jet Airways sank further by 11.15 per cent to Rs 81.70 per share. The NSE said recently that shares of the grounded airline will be removed from daily trading of futures and options from June 28.Indiabulls Housing Finance slipped 2.5 per cent while Yes Bank was down 1.5 per cent after a series of downgrades in recent weeks by global rating agencies. Dr Reddy and Bajaj Auto also dropped over 1 per cent.Those which showed marginal gains were Vedanta, Power Grid, Bharti Infratel, Wipro and Tata Steel.Meanwhile, Asian stocks were ...
Rupee slips 11 paise to 69.61 vs USD in early trade
The rupee opened on a weak note and declined by 11 paise to 69.61 against the US dollar in opening trade Friday, as rising crude oil price concerns weighed on investor community. The rupee opened weak at 69.55 at the interbank forex market and then fell further to 69.61, down 11 paise over its last close. The rupee had settled at 69.50 against the US dollar on Thursday. Forex traders said, rupee is trading in a narrow range as prospects of an interest rate cut by the US Federal Reserve kept investors edgy. Besides, strengthening of the American currency in the overseas market and weak opening in domestic equities weighed on the local unit. Meanwhile, foreign fund inflows supported the domestic currency. Brent crude futures, the global oil benchmark, rose 0.47 per cent to USD 61.60 per barrel. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 172.35 crore Thursday, as per provisional data. Domestic bourses opened on a cautious note Friday .
US stocks end with modest gains
Energy stocks boost the rally
Wockhardt gains as USFDA completes inspection at Bioequivalence Centre
Wockhardt was up 3.08% to Rs 394.95 at 09:17 IST on the BSE, after the company announced that it has received zero observations from the US drug regulator after inspection of its bioequivalence centre at Aurangabad.
Equity indices open in red, Sensex down 139 points
The key Indian equity indices opened on a negative note on Friday with the BSE Sensex losing nearly 140 points, tracking weakness in the major Asian markets.
Hexaware Technologies acquires Mobiquity Inc
For total consideration of USD 182 mn
Market trades with minor losses
Key benchmark indices were trading lower in early trade amid negative cues from other Asian shares. At 9:23 IST, the barometer index, the S&P BSE Sensex, was down 47.29 points or 0.12% at 39,694.07. The Nifty 50 index was down 18.35 points or 0.15% at 11,895.70.
Indiabulls Real Estate Ltd Falls 5.32%, S&P BSE Realty Index index Drops 1.48%
Indiabulls Real Estate Ltd has added 17.2% over last one month compared to 9.15% gain in S&P BSE Realty Index index and 6.68% rise in the SENSEX
Trent gains on fund raising plan
Trent rose 0.97% to Rs 399.75 at 09:25 IST on BSE after the company scheduled a board meeting on 18 June 2019 to consider fund raising plan.
KSK Energy Ventures Ltd Spurts 4.94%
KSK Energy Ventures Ltd has lost 6.59% over last one month compared to 6.3% gain in S&P BSE Utilities index and 7.05% rise in the SENSEX
Wockhardt in focus as USFDA completes inspection
Shares of Wockhardt will be in focus. The U. S. Food and Drug Administration (USFDA) has carried out inspection of Bioequivalence Centre located at R&D Centre, Aurangabad from 10 - 12 June 2019, during which Bioanalytical and Quality systems of Bioequivalence studies of Tamsulosin 0.4mg capsules and Metoprolol ER tablets were audited. At the end of inspection, there was Nil observation (i.e. zero 483 observation), signifying that best practices were followed, in compliance to regulations. This outcome would lead approvals of ANDAs in pipeline for which Bioequivalence studies are being or will be done in the centre. The announcement was made after market hours yesterday, 13 June 2019.
National Mineral Policy 2019 aims to raise mineral production by 200% in 7 years
Highlighting key aspects of the new policy, Mr Nayak said that it focuses on raising the share of mining in the country's GDP through large scale exploration with priority to deep-sea minerals and by assisting in getting the necessary clearances. "The NMP talks of increasing mineral production by 200 per cent in seven years. It's a very ambitious target. It also talks of reducing the trade deficit in mineral sector by 50 per cent in seven years. Government is conscious of the fact that there is a need to reduce the import bill," Mr Nayak said.
US fines Expedia for providing travel services to Cuba
Online travel agency Expedia has agreed to pay a $325,406 fine to the US government for an alleged violation of the economic sanctions on Cuba, the Treasury Department has said.
Hexaware acquires US-based Mobiquity for USD 182 mn
IT firm Hexaware Friday said it has acquired US-based Mobiquity Inc for a total consideration of about USD 182 million (approximately Rs 1,266 crore). Mobiquity creates digital products for brands like Amazon Web Services, Rabobank, Philips, Wawa, Backbase and Otsuka. Mobiquity group revenue was USD 70 million for the year ended December 31, 2018. "This is the largest ever investment by Hexaware and the combined entity aims to directly compete with large digital agencies and consulting firms," Hexaware said in a statement. R Srikrishna, CEO of Hexaware Technologies, said with this acquisition, Hexaware enters an exciting new phase of growth and capability. "Mobiquity strengthens two of our key strategic offerings: Cloudify Everything and Customer Experience Transformation. We are seeing a strong demand for these capabilities and, with this acquisition, we will be able to further accelerate our contributions to our customers' business growth," he added. Under the cash deal, Hexware ...
Market may open lower
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 24.50 points at the opening bell amid mixed cues from other Asian shares.
US firms, associations warn WH against tariff hikes on China
A total of 661 US companies and associations have signed a letter to President Donald Trump, urging his administration to abandon tariff hikes and reach a deal with China.
US stocks rise as Disney advances
US stocks closed higher, boosted by the strong gains in energy and Disney shares.
French home of ex-Nissan chief Ghosn searched in Versailles marriage probe: prosecutors
French anti-fraud police on Thursday searched the residence of former Nissan and Renault chief Carlos Ghosn outside Paris as part of a probe into his sumptious marriage celebrations at the Palace of Versailles in 2016, prosecutors said. The police went to his home in the town of Etang-la-Ville as part of a preliminary investigation prompted by Renault earlier this year, prosecutors in the district of Nanterre west of Paris said. Renault has previously signalled to French authorities suspect transactions under Ghosn, who at the peak of his powers was known for his jet-setting and luxury lifestyle. He is suspected of hiring the entire Palace of Versailles outside Paris in October 2016 to celebrate his marriage, a benefit estimated as being worth 50,000 euros (USD 56,000), in exchange for a philanthropy deal between the state-owned property and Renault. The search marks a new headache for the former Renault CEO, who was also Nissan chairman in the alliance with the Japanese carmaker, ...
BDL, Navy sign Rs 1,187 cr contract for torpedoes
Bharat Dynamics Ltd (BDL) has signed a contract worth Rs. 1,187.82 crore for supply of heavy weight torpedoes to the Indian Navy, an official statement said on Thursday.