Page 65 - Business Finance
Coriander futures dip on muted spot demand
Coriander prices fell by 0.01 per cent to Rs 7,055 per quintal in futures trade Thursday as participants cut positions amid muted domestic as well as exports' demand against ample stocks position. Besides, rising arrivals from major producing belts and profit-booking at higher levels weighed on the sentiment. On the National Commodity and Derivatives Exchange, coriander for July delivery declined by Re 1, or 0.01 per cent, to Rs 7,055 per quintal with an open interest of 29,850 lots. Similarly, coriander contracts for August delivery traded down by Rs 55, or 0.77 per cent to Rs 7,126 per quintal with an open interest of 2,180 lots. Analysts attributed the fall in coriander prices to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.
Jet Airways (India) Ltd leads losers in 'A' group
Yes Bank Ltd, Dewan Housing Finance Corporation Ltd, Reliance Power Ltd and IndusInd Bank Ltd are among the other losers in the BSE's 'A' group today, 13 June 2019.
CIL Nova Petrochemicals Ltd leads losers in 'B' group
TGB Banquets & Hotels Ltd, Trejhara Solutions Ltd, Reliance Home Finance Ltd and R&B Denims Ltd are among the other losers in the BSE's 'B' group today, 13 June 2019.
Singareni Collieries Apr-May coal output at 11 MT
State-owned SCCL produced 11.37 million tonne of coal during April-May, registering an increase of 18.4 per cent compared to the year-ago period. The company produced 9.60 MT coal in April-May 2018-19, according to the latest figures of Singareni Collieries Co Ltd (SCCL). In April 2019, the company produced 5.50 MT of coal, a rise of 21.9 per cent from the year-ago month. In May, the output was 5.87 MT, up 15.3 per cent from the same month last fiscal. SCCL is a government coal mining company jointly owned by the Telangana government and the Centre on a 51:49 equity basis. SCCL is operating 18 opencast and 30 underground mines in 4 districts of Telangana with a manpower of around 48,942.
Sitharaman holds 3rd third pre- Budget consultation with stakeholders from financial sector, capital markets
Union Finance Minister Nirmala Sitharaman held third pre-Budget consultation meeting with the stakeholders from the financial sector and capital markets on Thursday.Issues relating to the capital markets, financial sector, Non-Banking Financial Companies (NBFCs) and Alternative Investment Funds (AIFs) among others were the main areas of discussion during the meeting, read a statement.Along with Sitharaman, the meeting was attended by Anurag Thakur, Minister of State for Finance and Corporate Affairs, Subhash C. Garg, Finance Secretary, Girish Chandra Murmu, Expenditure Secretary, Ajay Narayan Pandey, Revenue Secretary, Rajeev Kumar, Secretary, DFS, Atanu Chakraborty, Secretary, DIPAM, Pramod Chandra Mody, Chairman, CBDT, P.K Das, Chairman, CBIC, K.V. Subramanian, CEA and other senior officials of Ministry of Finance.With a view to give boost to Indian markets, the representatives of financial sector and capital markets submitted several suggestions concerning infusion of capital in ..
GST anti-profiteering body dismisses complaint against Bharti Telemedia
Bharti Airtel Thursday said the GST anti- profiteering authority has dismissed a complaint against its subsidiary Bharti Telemedia for not passing on tax rate cut benefits to consumers. "...we wish to inform you that complaint filed in the subject matter has been dismissed as being non maintainable, by National Anti-Profiteering Authority and the same stands closed," Bharti Airtel said in a regulatory filing. The complainant had alleged that Bharti Telemedia, which is into direct to home (DTH) satellite and digital television, had not reduced prices of its offerings despite the tax rate being brought down to 18 per cent post GST roll out on July 1, 2017. Sources said that National Anti-Profiteering Authority (NAA) was of the view that the tax rate had actually gone up in the GST regime from earlier 15 per cent (in the pre-GST period). "We reiterate that the company, as a responsible corporate, is committed to ensure compliance with the applicable regulations and can assure you that it
Volumes soar at Indiabulls Integrated Services Ltd counter
Indiabulls Integrated Services Ltd recorded volume of 11.79 lakh shares by 14:19 IST on NSE, a 6.54 times surge over two-week average daily volume of 1.80 lakh shares
Barometers sharply recoup losses
Key benchmarks sharply pared losses in mid-afternoon trade. At 14:22 IST, the barometer index, the S&P BSE Sensex, was down 32.80 points or 0.08% at 39,724.01. The Nifty 50 index was down 7.90 points or 0.07% at 11,898.30.
IHG signs agreement with Paraag for 2 hotels in Bengaluru
Global hospitality major InterContinental Hotels Group (IHG) Thursday said it has has signed an agreement with Hotel Paraag Ltd in Bangaluru for two hotels in the city. One of the hotels will be under InterContinental Hotels & Resorts brand, while the other will come under Crowne Plaza, IHG said in a statement. Both the hotels are expected to be operational by the first quarter of 2022 and will increase IHG's system size in India by over 400 rooms, it added. "We are delighted to partner with Hotel Paraag Ltd to strengthen the presence of two of our globally renowned brands- InterContinental and Crowne Plaza in India," IHG South West Asia Development Vice President Sudeep Jain said. This agreement is a significant milestone for the company as it debuts its iconic brand, InterContinental in Bengaluru and mark the growth of the brand in SWA, he added. "Given the rising demand in the city for high quality hospitality from renowned brands, we see this partnership as a great opportunity
StayWell Hospitality's Rohit Vig Receives 'Emerging Hospitality Leadership Award'
/ -- StayWell Hospitality Group India is proud to announce that its Regional Managing Director (India) Mr. Rohit Vig, has been recently awarded the 'Emerging Hospitality Leadership Award' at the recently concluded 5th Edition of 'Hospitality Leader's Industry Choice Awards' by Hotelier Summit India. This one of a kind award is designed to applaud the success & achievement of the hospitality fraternity, and is nominated by the hospitality fraternity itself. This extravagant celebration was hosted this year at '7th Annual Hotelier Summit India 2019' on 21st May 2019 at Rock Pool, W Goa, Vagator Beach, Goa. Links to download Visuals: https://drive.google.com/file/d/0B-umqkobWr27VEVMazY0Z2dKdXhfTGZrNHBhenMtTzJlTXpn/view?usp=sharing https://drive.google.com/file/d/0B-umqkobWr27X25hZ2RDSno3dzNmdUFPdnFXcWp1blk0YWY4/view?usp=sharing About StayWell Holdings: One of the largest hotel management groups in Asia Pacific, StayWell Holdings, and its parent company Prince Hotels Inc., offers a ..
CM presents tax-free Mizoram budget
Mizoram Chief Minister Zoramthanga on Thursday presented a tax-free budget for 2019-20, laying emphasis on implementation of the Socio- Economic Development Policy (SEDP) and creation of three new districts. Presenting the Rs 10,692.30 crore budget in Mizo language, Zoramthanga, who also holds the finance portfolio, allocated a token provision of Rs 750 crore for the SEDP. The SEDP, a flagship programme of the Mizo National Front (MNF) government, aims at accelerating progress in key sectors and transforming Mizoram into a welfare state. The chief minister allocated Rs 50 crore under the SEDP for recruitment of doctors and nurses in the health department to ease an acute manpower shortage. Implementation of the MNF's 2008 announcement of the creation of Hnahthial, Khawzawl and Saitual districts was another top priority of his government, he said. Zoramthanga said the Congress, during its 10-year-long rule, had not implemented the decision of the MNF government in ...
Australia Stocks end softer
Energy stocks fell as crude oil prices tumbled 4% overnight after crude inventories rose amid concerns of dimming outlook for global oil. Oil & gas explorer Woodside Petroleum fell as much as 2.2%, while Oil Search and Beach Energy lost 2.4% and 5.2%, respectively.
Full steam ahead for Nepal-China railway project through Himalayas
The much talked about Nepal-China railway line project has picked up pace as Beijing announced funding for a detailed feasibility study of the project, which many critics say reflects Chinas strong strategic and geopolitical engagement with the small Himalayan nation.
Japan Nikkei extends losses
U.S. President Donald Trump said he had no deadline for China to return to trade talks, other than the one in his head. Trump has threatened to raise tariffs on Chinese goods if President Xi Jinping doesn't meet with him at the Group of 20 summit later this month in Japan.
Petitioner apologises, withdraws complaint against Indiabulls Housing finance
Indiabulls Housing Finance said on Thursday the petitioner, who had filed a plea in Supreme Court alleging misappropriation of Rs 98,000 crore by the company, has withdrawn the writ petition.A day earlier, the vacation bench of Justices Indira Banerjee and Ajay Rastogi had posted the matter for hearing in July after the company sought an urgent hearing of the case claiming that the petition against it alleging fraud is just a 'blackmailing tactic.'"Abhay Yadav, the petitioner, today has withdrawn the writ petition in Supreme Court," Indiabulls said in a statement after informing the stock exchanges of the development.Yadav said in his affidavit: "I am not aware of the contents and allegations mentioned in the complaints or the petition. I now realise that such papers, affidavits, applications, etc were signed by me have been misused to file false complaints and petitions against Indiabulls with malafide intentions."The petitioner further added: "I apologise with folded hands for ...
French state 'did not derail' Renault-Fiat deal: finance minister
French Finance Minister Bruno Le Maire said Thursday that the government was not to blame for a failed "merger of equals" between Renault and the US-Italian automaker Fiat Chrysler, denying claims by Renault's chairman. "We did not derail the wedding between Renault and Fiat," Le Maire told France Info radio, ahead of a meeting with Renault chairman Jean-Dominique Senard. Senard told shareholders at Renault's AGM on Wednesday that board directors representing the French state, which owns 15 percent of the carmaker, had demanded more time to study the tie-up, preventing a vote on the deal from taking place. "We didn't veto the project," said Le Maire, who has focused on Renault's strained alliance with its Japanese partner Nissan. "We simply asked, after seeing that Nissan was not going to give its backing, for five more days to study the operation." Just over a week after proposing a merger that got a warm welcome from Renault and its investors, Fiat walked away last week, with its ...
UN panel lauds India's digital initiatives for economic inclusion
India has been lauded by a high-level panel on digital cooperation launched by UN chief General Antonio Guterres for undertaking revolutionary digital initiatives to ensure economic inclusion for its 1.3 billion citizens. Launched in July last year by the UN Secretary General, the 20-member panel, co-chaired by billionaire philanthropist Melinda Gates and Alibaba founder Jack Ma, in its report recognised the consequential role played by new digital ecosystem 'India Stack' in helping the government agencies and entrepreneurs achieve economic inclusion in India. IndiaStack is a set of Application Programming Interface that allows governments, businesses, startups and developers to utilise a unique digital infrastructure to solve India's hard problems towards presence-less, paperless and cashless service delivery, its website said. The panel, tasked to map the trends in digital technologies, identify gaps and opportunities and outline proposals for strengthening international ...
Info Edge (India) allots 2 lakh equity shares under ESOP
With this allotment, the paid-up capital of the Company will accordingly increase from Rs. 1,221,161,590 (122,116,159 equity shares of Rs. 10/- each) to Rs. 1,223,161,590 (122,316,159 equity shares of Rs. 10/- each).
Coal India Ltd drops for fifth straight session
Coal India Ltd is quoting at Rs 254.8, down 0.86% on the day as on 13:24 IST on the NSE. The stock tumbled 10.03% in last one year as compared to a 9.77% rally in NIFTY and a 18.18% fall in the Nifty Metal index.
Steel Authority of India Ltd soars 1.29%
Steel Authority of India Ltd is quoting at Rs 51, up 1.29% on the day as on 12:54 IST on the NSE. The stock is down 40.94% in last one year as compared to a 9.57% spurt in NIFTY and a 18.22% spurt in the Nifty Metal index.