Page 650 - Business Finance
Quick Wrap: Nifty PSU Bank Index rises 3.62%, NIFTY jumps 1.09%
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DHFL stocks end 10% over stake sale reports
Dewan Housing Finance (DHFL) settled nearly 10 per cent higher on Thursday after touching an intra-day high of 13.64 per cent on the BSE over reports that Piramal Group and Baring Private Equity (PE) may acquire majority stake in the housing finance company.
Bandhan Bank to focus on affordable housing
After the completion of the proposed merger of Gruh Finance into the lender, Bandhan Bank is looking to give a big push to affordable housing sector and has plans to further dilute the promoter's holding in it to 40 per cent, an official said on Thursday.
Amway India to tap tier II,III markets under personal care biz
: Direct selling fast moving consumer goods company Amway India Thursday said it has strengthened the personal care portfolio with the launch of Persona Germ Protection and Moisturizing Liquid handwash, after the segment saw double digit growth in the last five years. With the launch of the new products, Amway India was also looking at increasing the market penetration of liquid handwash products in tier II and III cities. The liquid handwash has been developed in India for Indian consumers and offers effective germ protection, while providing nourishment and moisturisation by aloe vera, a company statement said. According to company Chief Marketing Officer, Sundip Shah, in the health and hygiene segment, especially the hand hygiene was witnessing a double-digit growth in last five years. "There is an increasing awareness among people towards maintaining hygiene in general and specifically hand hygiene. There is a huge potential for growth in the category which has ...
Stocks rally as pivotals advance
Domestic stocks logged sharp gains on strong buying demand in index pivotals. The barometer index, the S&P BSE Sensex, gained 412.84 points or 1.08% at 38,545.72. The Nifty 50 index gained 124.95 points or 1.09% at 11,570. The market sentiment was boosted by data showing that foreign funds and domestic funds, both, were net buyers of Indian stocks yesterday, 27 March 2019.
Sensex soars over 400 points; Nifty reclaims 11,500 mark
BSE benchmark Sensex zoomed over 400 points while the NSE Nifty reclaimed the 11,500 mark Thursday on robust buying in banking, finance, telecom and IT stocks. Heavy short-covering on expiry of March series futures and options (F&O) contracts buoyed investor sentiment, analysts said. The 30-share Sensex, after a positive start at 38,208.30, stayed in the green throughout the session, with buying pace gathering momentum towards the end. It finally finished at 38,545.72, showing a gain of 412.84 points or 1.08 per cent. The broader NSE Nifty settled at 11,570, higher by 124.95 points or 1.09 per cent. In the Sensex pack, gainers included HCL Tech, SBI, ITC, Bharti Airtel, Sun Pharma, Yes Bank, Axis Bank, TCS, Asian Paints, ICICI Bank, TCS, Bajaj Finance and Infosys, jumping up to 3.84 per cent. On the other hand, Tata Steel, ONGC, Bajaj Auto, PowerGrid, M&M and Hero MotoCorp fell up to 1.73 per cent. On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs ...
UK defends buying New York penthouse for diplomat
The UK Foreign Office has defended spending almost $16 million to buy a penthouse for a diplomat in New York as "the best possible deal and value for money" and a way to promote Britains business interests in the city, the media reported.
UAE-based group to expand in India with two more new malls
The UAE-based NRI-owned Lulu Group will expand its retail presence in India by building two new shopping malls in Bengaluru and Chennai, media reported on Wednesday. The group, which is headquartered in Abu Dhabi, already operates a mall in Kochi and have three upcoming projects in Lucknow, Vishakapatanam and Thiruvananthapuram. The Bengaluru and Chennai projects are expected to be operational by the end of this year, the Gulf News newspaper reported. We have acquired an ongoing mall development in Bengaluru and will build our own in Chennai, said Yousuf Ali, Chairman and Managing Director of Lulu Group. Noting that mall projects give the company the best platform to keep expanding its India portfolio, he said that still there is so much to do in the country's retail space. It was easier to acquire an ongoing project in Bengaluru than go searching for a wide expanse of land. The price was right and that's why we closed it at the first opportunity, Ali, who hails from Kerala, was ...
W eyeing up to 20% sales from sustainable fabrics products in 18-24 months
Apparel brand W, a part of TCNS Clothing Co Ltd, is eyeing up to 20 per cent of its revenue from sale of products made from sustainable fabrics in the next 18-24 months. "Sustainability in fashion is a relatively newer concept. We are experimenting with different kind of sustainable fabrics. We expect revenue from products made from sustainable fabrics to double in the 18-24 months to 10-20 per cent from about 5-10 per at present," TCNS Clothing Co Managing Director Anant Daga told PTI. The company Thursday announced an exclusive partnership with Aditya Birla Group's Livaeco brand. Last year W had launched a new line of Harit Khadi products styled by the company. "These sustainable products are priced at a premium, but we have seen great response from customers for Harit Khadi products. We want to give the customers the choice about the kind of fabric they want to buy," Daga added. Aditya Birla Group Senior President Manohar Samuel said: "We are launching our newest offering Livaeco ..
Infosys arm to buy 75% stake in Dutch bank subsidiary
Global software major Infosys on Thursday said its consulting arm would buy 75 per cent equity stake in Starter N.V., a subsidiary of the Dutch-based ABN AMRO Bank for Rs 999 crore ($144 million) in cash for strategic partnership in The Netherlands.
Gold prices gain Rs 35 to Rs 33,095 per 10 gram
Gold prices gained Rs 35 to Rs 33,095 per 10 gram Thursday, breaking its two-day fall, on account of increased domestic demand, shrugging off a weak global trend, according to the All India Sarafa Association. Silver, however, dropped Rs 270 to Rs 38,850 per kg amid lower demand from industrial units and coin makers. Bullion traders attributed the bounce back in gold prices to rise in domestic demand but a weak trend in the international market restricted the gains. Globally, gold was trading at USD 1,310.78 an ounce and silver at USD 15.32 an ounce in New York. The yellow metal was lower by about 0.15 per cent, while silver fell 0.16 per cent. In the national capital, gold of 99.9 per cent and 99.5 per cent purities rose by Rs 35 each to Rs 33,095 and Rs 32,925 per 10 gram, respectively. In the past two days, gold prices had fallen by Rs 160. Sovereign gold, however, remained unaltered at Rs 26,400 per piece of eight gram. The price of silver ready went lower by Rs 270 to Rs 38,850 .
Maruti Suzuki introduces 1.5-litre DDiS 225 Diesel engine with 6 speed transmission in New Ciaz
Developed in-house, the 1.5 litre Engine offers improved performance, best in class fuel efficiency, enhanced torque and power with refined NVH performance to thrill customers seeking higher performance cars from Maruti Suzuki.
TVS Motor drives in Apache RTR range with ABS
TVS Motor Company Thursday said it has upgraded its entire Apache RTR bike range with anti-lock braking system (ABS) technology. With ABS, TVS Apache RTR 160 is priced at Rs 85,510, TVS Apache RTR 180 is tagged at Rs 90,978, TVS Apache RTR 160 4V at Rs 89,785 and TVS Apache RTR 200 at Rs 1.11 lakh. "This one-of-a-kind racing-tuned ABS technology ensures maximum dynamic performance along with cutting-edge safety technology to our consumers," TVS Motor Company Director and Chief Executive Officer K N Radhakrishnan said in a statement. The motorcycles are already on sale in market to ensure proactive compliance to the regulatory requirement laid down by the central government, he added.
RFPIO on major expansion mode
City-based RFPIO, a patented cloud-based proposal management platform, is aiming to expand its enterprise users to one lakh by year 2020 from the present 25,000, a top company official said Thursday. The company has brought in the greatest innovation technology for responding to 'Request for Proposals' (RPF) and plans to make the city a worldwide sales and development hub, CEO of RFPIO Ganesh Shankar told reporters here. The two-year-old company has simplified and automated the RFP process and made it easier for teams to collaborate quickly to complete proposals on schedule and win businesses, he said. In light of today's ever-increasing competition and time constraints, the company's product learns from the past responses and recommends the best content for new questions and deliver a dashboard that provide visibility into RFP process, vice-president of RFPIO (technology) Manish Bafna said. RFPIO is the only company using Artificial Intelligence in the response ...
Icelandic budget airline WOW Air ceases operations
Icelandic budget airline WOW Air ceased operations on Thursday, stranding passengers across two continents. In a statement on its website the airline, which had earlier suspended all its flights, told passengers there would be no further flights and advised them to check flights with other airlines for ways to reach their destinations. The airline, founded by entrepreneur Skuli Mogensen, began operations in 2012 and specialised in ultra-cheap flights between North America and Europe, with flights to airports in cities including Washington, D.C, New York, Paris, London and its Reykjavik hub. Its bankruptcy comes after six months of turbulent negotiations to sell the low-cost carrier, first to its main rival and flag-ship carrier Icelandair and later to Indigo Partners, an American company operating the airline Wizz. "I will never forgive myself for not acting sooner," Mogensen said in a letter to employees Thursday. "WOW was clearly an incredible airline and we were on the path to do ..
Monsanto ordered to pay USD 80 mn in Roundup cancer trial
Monsanto has been ordered to pay some USD 80 million to an American retiree who blames his cancer on the agribusiness giant's weedkiller Roundup, in a case that could influence the outcome of thousands more like it. A San Francisco jury Wednesday found the firm, which is owned by Bayer, had been "negligent by not using reasonable care" to warn of the risks of its product, ordering it to pay Edwin Hardeman USD 75 million in punitive damages, a little over USD 5 million in compensation and USD 200,000 for medical expenses. It was the second stinging legal verdict for Monsanto in recent months after it lost a case to a California school groundskeeper suffering from terminal non-Hodgkin's lymphoma and was ordered to pay out tens of millions of dollars. The jury also found that Roundup's design was defective and that the product lacked sufficient warnings of potential risk. The same jury had previously found in an earlier part of the trial that a quarter century exposure to Roundup, whose .
Bank of Baroda gets capital infusion of Rs 5042 cr from GoI
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Future Supply Chain Solutions to manage Benetton India's supply chain logistics
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Board of Makers Laboratories approves change in directorate
The Board has accepted the resignation of K. C. Jain; S. V: Loyalka; and Dr. Rajeshwar Singh with effect from 01 April 2019.
McDonald's offers free fries with McSaver meals
To popularize this too-good-to-be true proposition, the brand has launched three television commercials ('TVCs'). The three TVCs, that have been conceptualized by DDB Mudra, reinforce the company's brand promise of 'easy to feel good' and capture the customers' absolute delight on getting free fries in a fun and quirky way. With this, the brand is all set to make its customers say 'i'm lovin' it' over and over again.