Page 660 - Business Finance

Godrej Industries Ltd soars 1.01%, rises for third straight session

Godrej Industries Ltd is quoting at Rs 546.85, up 1.01% on the day as on 12:54 IST on the NSE. The stock is down 0.55% in last one year as compared to a 14.1% gain in NIFTY and a 15.4% gain in the Nifty FMCG index.

Shriram Transport Finance Company Ltd up for third straight session

Shriram Transport Finance Company Ltd is quoting at Rs 1246.1, up 3.49% on the day as on 12:54 IST on the NSE. The stock is down 13.44% in last one year as compared to a 14.1% jump in NIFTY and a 21.58% jump in the Nifty Financial Services index.

RBL Bank Ltd soars 2.87%

RBL Bank Ltd is quoting at Rs 673, up 2.87% on the day as on 12:54 IST on the NSE. The stock is up 40.25% in last one year as compared to a 14.1% spurt in NIFTY and a 24.6% spurt in the Nifty Bank index.

Pritika Auto increases capacity of Rear Axle Housings to meet demand of existing customer

This incremental demand is coming from an existing large customer that has shown immense trust and belief in the company for the supply of this incremental demand. This will result in an additional business of 2,400 tons per annum.

India produces 8.74 MT crude steel in February: worldsteel

The country's crude steel output in February grew 2.3 per cent to 8.74 million tonne (MT) from 8.54 MT in the year-ago month, according to global steel body World Steel Association (worldsteel). The crude steel production for the 64 countries reporting to the worldsteel was 137.27 MT in February, a 4.1 per cent increase compared to 131.92 MT in February 2018, the association said in its latest report. During the month, China produced 70.98 MT crude steel as against 65.02 MT, a jump of 9.2 per cent during same month a year ago. "India produced 8.738 MT of crude steel in February 2019, up 2.3 per cent over February 2018. Japan produced 7.7.43 MT of crude steel in February 2019, down 6.6 per cent on February 2018. South Korea's crude steel production stood at 5.471 MT, up 1.1 per cent on February 2018," worldsteel said. The US produced 6.9 MT of crude steel, a rise of 4.6 per cent as compared with February 2018, it said. In the EU, Italy produced 2 MT, France produced 1.2 MT, and Spain ..

Mastek allots 30,242 equity shares under ESOP

Resultantly, the paid up share capital of the Company stands increased to 2,39,72,803 Equity Shares amounting in aggregate to Rs. 11,98,64,015/-

Tata Group, GIC, SSG Capital Management to invest Rs 8,000 cr in GMR's airports biz

GMR Infrastructure Wednesday said Tata Group along with an affiliate of Singapore's sovereign wealth fund GIC and SSG Capital Management will invest Rs 8,000 crore in the company's airports business. Following the transaction, GMR Infrastructure and its subsidiaries will hold around 54 per cent stake in GMR Airport, while employee welfare trust will hold about 2 per cent, Tata Group around 20 per cent, GIC about 15 per cent and SSG around 10 per cent. As part of this transaction, GMR Infrastructure also intends to provide exit to existing private equity investors who hold 5.8 per cent equity stake in GMR Airport Ltd. GMR Infrastructure has signed a binding term sheet with the investors (Tata Group, GIC and SSG Capital Management) pursuant to which the investors have agreed to invest Rs 8,000 crore in GMR Airports Ltd, GMR Infra said in a regulatory filing. The investment amount of Rs 8,000 crore will consist of Rs 1,000 crore equity infusion in GMR Airports and Rs 7,000 crore towards .

SML ISUZU Ltd leads gainers in 'B' group

Khaitan (India) Ltd, Akme Star Housing Finance Ltd, Alpa Laboratories Ltd and Cimmco Ltd are among the other gainers in the BSE's 'B' group today, 27 March 2019.

Jet Airways shares continue upward march, jump 6 pc

Shares of Jet Airways continued its upward journey Wednesday rising nearly 6 per cent, after the company set an 'ambitious' target of flying 40 additional aircraft by the end of April. The stock jumped 5.79 per cent to Rs 286.70 on the BSE. On the National Stock Exchange (NSE), shares zoomed 5.94 per cent to Rs 287 apiece. In the past two days, the stock has climbed 20 per cent. Jet Airways has informed the government that it has 35 aircraft in operation and it has set an "ambitious" target of flying 40 additional aircraft by the end of April, Civil Aviation Secretary P S Kharola said Tuesday. For the past few weeks, the full-service carrier has been grounding its aircraft in tranches due to non-payment of dues to lessors, bringing down its operational fleet from 103 to just 35. Giving up chairmanship after more than 26 years, embattled Jet Airways' founder Naresh Goyal Monday quit as a board member, with the lenders taking control and deciding to infuse Rs 1,500 crore immediately ...

ICICI Prudential Life Insurance Company Ltd leads gainers in 'A' group

GIC Housing Finance Ltd, UCO Bank, Godrej Agrovet Ltd and Yes Bank Ltd are among the other gainers in the BSE's 'A' group today, 27 March 2019.

Banking stocks lift Sensex by 210 points in early trading at 38,443

Equity benchmark indices traded higher in the morning session on Wednesday, led by gains in banking stocks.Among the front runners were Yes Bank, Bank of Baroda, Punjab National Bank, Federal Bank and RBL Bank.At 11:15 am, the BSE S & P Sensex was up 210 points at 38,443 while the NSE Nifty 50 gained 55 points at 11,538.Shares of GMR Infra gained 2 per cent in the morning session. IndusInd Bank, Indiabulls Housing Finance and Airtel also traded higher but Hindustan Petroleum, Bharat Petroleum and Tech Mahindra slipped on the National Stock Exchange.The most active stocks were Yes Bank, GMR Infra, Suzlon and Reliance Industries.Meanwhile, Asian shares were mixed as investors weighed disappointing signs with major economies like China, Europe and Japan slowing down.Uncertainties over trade tariffs between the United States and China as well as Brexit continue.

Oram's immovable assets tripled in last five years

Senior BJP leader and Union Tribal Affairs Minister Jual Orams immovable assets has tripled in the last five years while that of his wife has jumped four fold during the same period. Oram's annual income, which stood at Rs 8.68 lakh in 2014-15, has grown up to Rs 13.23 lakh in 2018-19, as per the affidavit submitted by him while filing nomination for Sundargarh Lok Sabha seat on Tuesday. Similarly, the annual income of the tribal BJP leader's wife Jhingia Oram has swollen from Rs 4.47 lakh in 2014-15 to Rs 7.60 lakh in 2018-19, the affidavit said. Oram has around Rs 80,530 cash in hand, while his wife has Rs 50,650 cash in hand. The value of Orams immovable assets which stood at around Rs 90 lakh in 2014 has now risen to Rs 2.74 crore. Similarly, the worth of immovable assets of his wife Jhingia has swollen from around Rs 50 lakh to Rs 2.03 crore during the period. While the market value of the existing assets had grown, the Union minister and his wife have acquired ...

Market holds firm

Firmness prevailed on the bourses in mid-morning trade. At 11:27 IST, the barometer index, the S&P BSE Sensex, was up 195.94 points or 0.51% at 38,429.35. The Nifty 50 index was up 50.90 points or 0.44% at 11,534.15.

Wockhardt jumps after HPRA clears Aurangabad facility

Wockhardt rose 2.90% to Rs 434.30 at 11:42 IST on BSE after the company said its facility in Aurangabad got clearance from Health Products Regulatory Authority, Ireland.

KNAB Targets 1000 Cr Disbursal by Enabling 10x Growth for Unicorn Aggregator Platforms

/ -- The digital lending platform is aiming for 10x YoY growth by partnering with some of the biggest hotel aggregators, food delivery platforms, and POS merchant platforms India's food tech sector is at its peak right now. According to a report by RedSeer Consulting, the sector has witnessed a whopping 130% growth in CY 2018. With a tremendous rise in daily order volumes, market leaders like Swiggy, Zomato, and UberEats are pushing to get more restaurants on board to cater to the rising demand. But there's a small catch when it comes to capitalising on this trend. While the food tech platforms have seen tons of VCs invest in their growth, from where do the smaller restaurants get money to scale up? That's where KNAB Finance, one of the leading FinTech platforms pitch in. With larger banks finding it hard to break into this market due to barriers like inability to provide collateral-free loans, tech-enabled NBFCs like KNAB have partnered with food tech giants and made inroads into ...

Volumes jump at United Breweries Ltd counter

United Breweries Ltd witnessed volume of 74.85 lakh shares by 10:49 IST on BSE, a 234.04 times surge over two-week average daily volume of 31980 shares

Adani becomes 1st Indian port operator to record 200 MT cargo movement

Adani Port and Special Economic Zone (APSEZ) Wednesday claimed that it has become the first Indian port operator to handle cargo movement of 200 million tonnes (MT) in 2018-19. APSEZ, part of Gautam Adani-led Adani Group had recorded 100 MT cargo in 2013-14. On March 21, leading private port operator APSEZ, recorded cargo movement of more than 200 MT, APSEZ said in a statement. "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. 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," said Karan Adani, Chief Executive Office, APSEZ. He added that focus on adding value as an integrated logistics player and coastal shipping of coal further bolstered the process. The company said it developed Mundra Port first .

Positive catalysts to benefit rupee bonds, but sharp rally in 10-year bonds unlikely

A mix of domestic and external positive catalysts are expected to benefit rupee bonds, but keeping down the long-end of the yield curve might prove a challenge, according to a report by Singapore bank, DBS Group, on Wednesday. Global yields have declined in recent weeks, dragged down by the US Federal Reserve's recent dovish pivot. This fall in yields reflect moderating growth expectations in the developed markets, and likely dovish-for-longer central bank policies, the report said. Portfolio investors have returned to the regional high-yielding debt markets, including rupee bonds; after a two-month hiatus, FPIs bought a net debt of USD 1.6 billion this month, in addition to USD 4 billion into equities, wrote DBS Group Research Economist Radhika Rao and FX Strategist Philip Wee in the report. Concurrently, a domestic swap measure has helped to reduce foreign exchange implied rates, making it cheaper for companies to raise funding in dollars and attract inflows. The swap auction held ..

Good gains at Wall Street

All 11 S&P 500 sectors finish higher

Board of Huhtamaki PPL consider resignation of director

At meeting held on 26 March 2019