Page 659 - Business Finance
Indices sink in negative zone
Stocks reversed intraday gains and hit intraday low in negative zone. At 14:25 IST, the barometer index, the S&P BSE Sensex, was down 67.83 points or 0.18% at 38,165.58. The Nifty 50 index was down 23.50 points or 0.2% at 11,459.75. Cement stocks saw mixed trend.
Motor & General Finance Ltd leads losers in 'B' group
Bhartiya International Ltd, Jiya Eco-Products Ltd, Genesys International Corporation Ltd and Salona Cotspin Ltd are among the other losers in the BSE's 'B' group today, 27 March 2019.
Volumes soar at Sheela Foam Ltd counter
Sheela Foam Ltd clocked volume of 1.47 lakh shares by 14:19 IST on NSE, a 90.5 times surge over two-week average daily volume of 1627 shares
Board of Orient Electric gives in-principle approval for setting up manufacturing unit
At meeting held on 27 March 2019
Adani becomes first Indian port operator to record 200 MMT cargo movement
Adani Ports and Special Economic Zone (APSEZ) said on Wednesday that it has recorded cargo movement of more than 200 million metric tonnes (MMT) at nine ports along the east and west coasts, becoming the first Indian port operator to achieve the milestone."Our projections were to reach this milestone by 2020 but we could achieve it ahead of schedule, courtesy the tech-driven operational efficiency and enhanced asset utilisation," said APSEZ Chief Executive Officer Karan Adani."Robust capacity addition at our leading ports such as Dhamra and Mundra as well as deepening presence closer the hinterland with new facilities such as Ennore and Kattupalli played a critical role in this journey," he said. "The focus on adding value as an integrated logistics player and coastal shipping of coal further bolstered the process."Going forward, APSEZ plans to double the growth up to 400 MMT by 2025. The company said it will integrate conventional business processes with tech-driven innovations and ..
MERC approves 700 MW PPA between distribution and generation business of Tata Power for 5 years
After the due diligence for ensuring the reliability of supply and cost competitiveness for the Tata consumers in Mumbai, the Hon'ble Commission, in its order on 26 March 2019, approved the arrangement.
Tata Power gains after MERC OKs 700 MW PPA
Tata Power rose 1.05% to Rs 72 at 13:50 IST on BSE after the company said that MERC has approved 700 MW power purchase arrangement between distribution and generation business of Tata Power for the next five years.
Huawei eyes 10% premium smartphone share in India
Chinese telecommunications giant Huawei is aiming to make a serious dent into the growing premium smartphone market in India with its newly-launched P30 and P30 Pro devices.
Tata, GIC, SSG to buy stake in GMR's airport unit
GMR Infrastructure on Wednesday said Tata Group, along with an affiliate of Singapore's sovereign wealth fund "GIC" and SSG Capital Management, would invest Rs 8,000 crore in GMR Airports Ltd (GAL).
NMDC Ltd down for fifth straight session
NMDC Ltd is quoting at Rs 103.5, down 1.05% on the day as on 13:24 IST on the NSE. The stock tumbled 12.7% in last one year as compared to a 14.03% rally in NIFTY and a 14.49% fall in the Nifty Metal index.
Scandal-hit Korean Air chief forced off board by shareholders
The head of South Korea's flag carrier Korean Air -- whose family have been embroiled in multiple scandals including one involving a "nut rage" tantrum -- lost his board seat after shareholders voted against extending his term as director, the airline said Wednesday. Cho Yang-ho, who is currently on trial for corruption, failed to secure a required two-thirds majority, becoming the first controlling shareholder of a South Korean conglomerate to be forced off the board. The super-wealthy owners of chaebols -- the sprawling conglomerates that dominate the world's 11th-largest economy -- are no strangers to controversy, but a string of high-profile scandals have vaulted the Cho family to notoriety in South Korea, even sparking protests by their employees. The 70-year-old tycoon is the chairman of the Hanjin Group, which used to own the now-bankrupt Hanjin Shipping line. Cho controls around 30 per cent of Korean Air through its parent company Hanjin Kal. But the National Pension Service, .
T.V. Today Network Ltd drops for fifth straight session
T.V. Today Network Ltd is quoting at Rs 315.75, down 0.38% on the day as on 13:24 IST on the NSE. The stock jumped 51.1% in last one year as compared to a 14.03% rally in NIFTY and a 27.32% spurt in the Nifty Media index.
NIIT Technologies Ltd eases for fifth straight session
NIIT Technologies Ltd is quoting at Rs 1307, down 0.01% on the day as on 13:24 IST on the NSE. The stock jumped 51.1% in last one year as compared to a 14.03% rally in NIFTY and a 23.15% spurt in the Nifty IT index.
Healofy raises USD 8 mn from BabyTree Group, BAce Capital and Omidyar Network India
Women-centric social network Healofy Wednesday said it has raised USD 8 million (about Rs 55 crore) from China's maternity and child-focused community platform BabyTree Group, BAce Capital, a fund anchored by Ant Financial Services Group, and existing investor Omidyar Network India. The company said it plans to invest the funds to further strengthen the product, engineering and data science teams and scale its machine learning and personalisation engine. "We are excited to be partnering with our investors in our next phase of growth given their expertise in their respective markets," said Healofy Chief Executive Officer Gaurav Aggarwal said in a statement. Aiming to address the growing demand for relatable and credible content for Indian women in the age group of 21 to 35, Healofy was founded in September 2016 by Gaurav Aggarwal and Shubham Maheshwari, alumni of IIT Guwahati and NIT Warangal, respectively. The company was initially focused on women's health-related categories ...
GMR Infrastructure announces proposed investment of Rs 8,000 crore by Tata, GIC, SSG
GMR Infrastructure Limited (GIL) on Wednesday announced a proposed investment of Rs 8,000 crore by Tata Group, an affiliate of Singapore's sovereign wealth fund GIC and Hong Kong-based SSG Capital Management in its airports business.The investment will consist of Rs 1,000 crore equity infusion in GMR Airports Limited (GAL) besides Rs 7,000 crore towards purchase of GAL's equity shares from GIL and its subsidiaries.Significantly, GIL proposes to demerge its energy, highways, urban infrastructure and transportation businesses, leading to separation of its airport business, subject to customary consents, regulatory and corporate approvals.Among multiple strategic benefits will be: significant deleveraging at GIL, investment by marquee investors for creating a world-class portfolio of airport assets and paving the way for restructuring of the business by way of demerger.As part of the terms, GIL will retain management control over the airports business with the investors having customary .
Silver futures fall by Rs 90 on low demand
Silver prices Tuesday fell by Rs 90 to Rs 38,229 per kg in futures trade after speculators reduced their exposure amid firm trend overseas. On the Multi Commodity Exchange, silver for May was trading lower by Rs 90, or 0.23 per cent, down at Rs 38,229 per kg in a business volume of 328 lots. The white metal for July, too, fell by Rs 109, or 0.28 per cent, to Rs 38,745 per kg in 273 lots. In the international market, silver was up by 0.70 per cent to USD 15.40 an ounce in Singapore. Marketmen said the fall in the prices was due to cutting down of positions by speculators but a firm trend overseas limited the downtrend.
PolicyX.com introduces legendary cricketer 'Virender Sehwag' as its Brand Ambassador
PolicyX.com - An online insurance web aggregator has roped in legendary cricketer Virender Sehwag as it's Brand Ambassador. By signing him, PolicyX.com has launched its biggest marketing campaign, spread across the insurance products basket of term insurance, health insurance, life insurance, car insurance and others."Sehwag is one of the most respected, self-made sports-persons. He is simple, trustworthy and genuine. He believes in transparency and honesty as a person and that is what excites us as a brand. PolicyX.com is built on similar principles and values- trust is the core of it. So it's not just a simple association, it's a partnership of values. With this association, hopefully, we will be able to reach every Indian household and will build trust among customers towards PolicyX.com," said Naval Goel, CEO and Founder of PolicyX.com."It is great to be associated with a company, which stands for trust and simplicity. Insurance is one of the most important financial products that
Shares continue trading higher
Key benchmarks were hovering near the higher end of the trading range in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 183.10 points or 0.48% at 38,416.51. The Nifty 50 index was up 49.85 points or 0.43% at 11,533.10.
Bajaj Finance Ltd jumps 1.67%, up for third straight session
Bajaj Finance Ltd is quoting at Rs 2983.5, up 1.67% on the day as on 12:54 IST on the NSE. The stock is up 68.79% in last one year as compared to a 14.1% gain in NIFTY and a 21.58% gain in the Nifty Financial Services index.
Crude oil prices fall 0.1 pc on subdued global cues
Crude oil prices Wednesday fell 0.1 per cent to Rs 4,146 per barrel as speculators indulged in reducing holdings amid a weakening trend overseas. In futures trading on the Multi Commodity Exchange, crude for delivery in April fell by Rs 4, or 0.1 per cent, to Rs 4,146 per barrel in a business volume of 418 lots. Analysts said continuous off-loading of holdings by participants in line with a weakening trend in global crude, mainly weighed on crude prices at futures trade here. The oil for delivery in May contracts lost Rs 3, or 0.07 per cent, to Rs 4,176 per barrel in a business volume of 778 lots. The West Texas Intermediate (WTI) crude fell 0.07 per cent to USD 59.90, while Brent crude, the international benchmark, gained 0.31 per cent to USD 68.18 a barrel, on the New York Mercantile Exchange.