Page 645 - Business Finance
Network 18 Media & Investments Ltd jumps around 2%
Network 18 Media & Investments Ltd is quoting at Rs 35.4, up 2.02% on the day as on 12:49 IST on the NSE. The stock is down 43.13% in last one year as compared to a 13.56% slide in NIFTY and a 25.05% slide in the Nifty Media index.
Bajaj Finance Ltd gains for five straight sessions
Bajaj Finance Ltd is quoting at Rs 3007.75, up 0.4% on the day as on 12:44 IST on the NSE. The stock is up 65.39% in last one year as compared to a 13.51% gain in NIFTY and a 21.48% gain in the Nifty Financial Services.
RBL Bank Ltd stays in demand
RBL Bank Ltd is quoting at Rs 689.2, up 0.72% on the day as on 12:44 IST on the NSE. The stock is up 42.21% in last one year as compared to a 13.51% gain in NIFTY and a 24.69% gain in the Nifty Bank.
TVS Motor launches Apache RTR 160 4V in Colombia
TVS Motor Company Friday said it has launched TVS Apache RTR 160 4V in Colombia. "It is the most powerful 160cc motorcycle in Colombia and embodies the latest racing technology with best-in-class performance. We are confident that the TVS Apache RTR 160 4V will delight customers in Colombia," TVS Motor Company Senior Vice President - International Business R Dilip said in a statement. The motorcycle comes with a 159.7 cc, single-cylinder 4-stroke oil-cooled engine that churns out 16.5 PS of power.
Silver futures surge 0.02% on global cues
Silver futures traded higher by 0.02 per cent at Rs 37,325 per kg Friday after speculators raised bets, driven by a firm trend overseas. Silver for delivery in May traded higher by Rs 8, or 0.02 per cent, at Rs 37,325 per kg in a business turnover of 23,569 lots on the Multi Commodity Exchange. Similarly, the white metal to be delivered in far-month July, too, rose by Rs 46, or 0.12 per cent, to Rs 37,901 per kg in 852 lots. Analysts said widening of positions by traders, in sync with a firm trend on global markets for precious metals, influenced silver prices at futures trade here. In the international market, silver traded higher by 0.57 per cent at USD 15.01 an ounce in Singapore Friday.
BSNL meet on April 4, March salary to be on time
The state-run BSNL will hold a crucial board meeting on April 4 to discuss the 2018-19 financial results, the roadmap, investments for 2019 fiscal, increasing of the ceiling limit for capex loans, sources said on Friday.
Tata Global Beverages Ltd rises for third straight session
Tata Global Beverages Ltd is quoting at Rs 204.2, up 2.64% on the day as on 12:49 IST on the NSE. The stock is down 26.27% in last one year as compared to a 13.56% jump in NIFTY and a 14.42% jump in the Nifty FMCG index.
Tata Power Company Ltd soars 3.7%, up for third straight session
Tata Power Company Ltd is quoting at Rs 74.2, up 3.7% on the day as on 12:49 IST on the NSE. The stock is down 9.4% in last one year as compared to a 13.56% gain in NIFTY and a 24.15% gain in the Nifty Energy index.
VEEN set for its debut crowdfunding round
Premium beverage company from Finland, VEEN announced their first round of crowdfunding beginning March 2019 worldwide. Looking at raising INR 9.7 Cr./ 1.2mn Euros in this round, VEEN is offering equity of 6.47 per cent-15.08 per cent through somewhat of a mini IPO.VEEN is taking a modern and unique approach of using www.invesdor.com, a reputable fully regulated online platform based in Helsinki, Finland, to raise funds through private individuals as well as institutional investors. The crowdfunding round begins on 12th March and will be open to investors around the globe until April 02, 2019.With the growing demand for 100 per cent natural food and beverage products in environmentally responsible packaging, VEEN has seen unprecedented growth both internationally and in India. The business has been valued at INR 52.5 Crore/EUR6.5m and is expected to achieve estimated revenue of INR 26 crore/EUR3.2m in this year.Established in 2006, VEEN today employs 54 people in 6 countries with a ...
ZF signs pact agreement to acquire WABCO for $7 billion
Global automotive component major ZF Friedrichshafen AG has entered into a definitive agreement to acquire WABCO Holdings Inc for nearly 7 billion dollars.The planned acquisition has been approved by ZF's management board and supervisory board and WABCO's board of directors and is expected to close by early 2020."Under the agreement, ZF will acquire all outstanding shares of WABCO for 136.50 dollars per share in an all-cash transaction for an equity value of over 7 billion dollars," according to an official statement.The transaction will bring together two global technology leaders serving original equipment manufacturers and fleets in the automotive and commercial vehicle industry.It will combine WABCO's capabilities in commercial vehicle safety and efficiency, including technologies involved in vehicle dynamics control, active air suspension systems, and fleet management systems with ZF's leading position in driveline and chassis technologies for cars and commercial vehicles.Jacques
Metal and mining stocks gain
Key indices gyrated in a small range in early afternoon trade. At 12:28 IST, the barometer index, the S&P BSE Sensex, was up 72.08 points or 0.19% at 38,617.80. The Nifty 50 index was up 17.10 points or 0.15% at 11,587.10. Metal and mining stocks gained.
Shiva Mills Ltd leads gainers in 'B' group
Pritish Nandy Communications Ltd, Sterling Tools Ltd, Adani Gas Ltd and Onward Technologies Ltd are among the other gainers in the BSE's 'B' group today, 29 March 2019.
Borrowings calender for FY20 to be out Friday later
The Finance Ministry will announce its borrowing plans for the first half of 2019-20 on Friday as it has received the Election Commission's nod to go ahead with the announcement.
Larsen & Toubro announces new strategic initiative L&T Nxt
In consonance with the expectations of a new age industry, L&T-Nxt will focus on the areas of Artificial Intelligence, IoT, Virtual Reality, Augmented Reality, Geo-spatial solutions and Cyber Security and leverage the experience that L&T has garnered over the decades.
Indostar Capital Finance Ltd leads gainers in 'A' group
Jindal Steel & Power Ltd, Advanced Enzyme Technologies Ltd, WABCO India Ltd and Vodafone Idea Ltd are among the other gainers in the BSE's 'A' group today, 29 March 2019.
MSTC shares drop on first day of trade
Shares of state-owned MSTC Ltd made a weak market debut Friday, falling up to 7.5 per cent as against the issue price of Rs 120 per share. The stock opened the day at Rs 111, a decline of 7.5 per cent from the issue price on the BSE. It later touched a high of Rs 116.55 and a low of Rs 110.05. On the National Stock Exchange (NSE), shares debuted at Rs 115, a drop of 4.16 per cent. The stock later jumped to a high of Rs 120 and a low of Rs 111. MSTC's initial share sale, which was extended, was subscribed 1.46 times. In an update on the NSE, the book running lead managers (BRLM) to the MSTC issue had told the exchange that the issue closure date had been extended up to March 20. Also, price band was revised from Rs 121-128 to Rs 120-128 per share. The offer was earlier scheduled to close on March 15. Equirus Capital Private Ltd managed the offer. MSTC, a Kolkata-based firm, was incorporated in 1964 as a trading company to deal in the export of scrap. There are three main business ...
DLF raises Rs 3,173 cr via QIP; to prepay debt
Realty major DLF Friday said it has raised Rs 3,173 crore by selling shares to institutional investors through its QIP offer. DLF, the country's largest real estate firm in market value, would utilise this amount mainly to prepay debt, which stood at around Rs 7,000 crore at the end of December 2018. On Monday, the company had launched its qualified institutional placement (QIP) issue, offering up to 17.3 crore shares to investors. The issue closed Thursday. In a regulatory filing, DLF Friday informed that the Securities Issuance Committee has approved the allotment of 17.3 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 183.40 per share, aggregating to about Rs 3,172.82 crore. Sources on Tuesday had said that DLF's QIP issue has been oversubscribed by two times, enabling the company to raise around Rs 3,200 crore. Major institutional investors who participated in QIP offer include Oppenheimer, UBS, HSBC, Marshall & Wace, Myriad, Key Square, .
Positive market breadth
Key indices hovered in positive zone in mid-morning trade. At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 43.97 points or 0.11% at 38,589.69. The Nifty 50 index was up 12.85 points or 0.11% at 11,582.85.
Profit booking in banking stocks shave off early gains
Equity benchmark indices rose sharply on Friday but quickly shed most of the early gains as traders booked profits in banking stocks which had made handsome gains a day earlier.At 11:15 am, the BSE S & P Sensex was up 27 points at 38,572 while the NSE Nifty 50 gained 5 points at 11,575.Shares of WABCO India surged 8 per cent on the National Stock Exchange after its holdings company entered into a definitive merger agreement with ZF Friedrichshafen AG.The other gainers were Vedanta, JSW Steel, Tata Steel, Tata Motors, Lupin and Mahindra & Mahindra.Those which lost ground included IndusInd Bank, ICICI Bank, Titan, GAIL and Eicher Motors.The most active stocks were State Bank of India, SBI Life, Reliance Industries and Yes Bank.Meanwhile, Asian shares traded higher in the first half on revived hopes of progress in US-China trade talks..