Page 668 - Business Finance
Take Solutions Ltd leads gainers in 'A' group
DLF Ltd, GMR Infrastructure Ltd, Jet Airways (India) Ltd and Suzlon Energy Ltd are among the other gainers in the BSE's 'A' group today, 26 March 2019.
Equities open in the green, Sensex up 72 points at 37,881
Equity benchmark indices opened higher on Tuesday after Asian shares bounced back following two days of losses.At 11:15 am, the BSE S & P Sensex up 72 points at 37,881 while the NSE Nifty 50 gained 24 points at 11,379.All sectors except Nifty IT traded in the green during early morning hours. The Nifty Realty gained over 2 per cent.Shares of Jet Airways jumped over 6 per cent after Naresh Goyal stepped down as Chairman of the board on Monday and transferred control to the lenders.Reliance Industries, Indian Oil, ONGC, Coal India and Vedanta also traded higher marginally. But Infosys, Tech Mahindra and Power Grid were in the red at National Stock Exchange.Meanwhile, Asian stock markets were up a day after a regional sell-off was sparked by fresh worries of a possible US recession in the coming months.Investors were also cautious after British Prime Minister Theresa May said there was not enough support to put her Brexit deal to a third vote in Parliament..
Trident gains after grant of patent in USA
Trident rose 2.45% to Rs 66.95 at 11:38 IST on BSE after the company said it received a patent for environment friendly fabric in the US.
Zinc futures fall 0.28% on weak spot cues
Zinc prices fell 0.28 per cent to Rs 198.05 per kg in futures market Tuesday after speculators trimmed positions amid subdued demand at the domestic spot market. However, a firm trend in metal at the London Metal Exchange (LME) capped losses. At the Multi Commodity Exchange, zinc for delivery in March drifted down by 55 paise, or 0.28 per cent, to Rs 198.05 per kg in a business turnover of 851 lots. Analysts said cutting down of positions by traders, triggered by a weak trend at the domestic physical markets due to low demand, mainly led to the fall in zinc prices at futures trade. Globally, zinc for delivery in three-month rose 0.6 per cent to USD 2,831 a tonne at the LME on Monday.
Realty stocks gain
Stocks hovered in positive zone in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 65.91 points or 0.17% at 37,874.82. The Nifty 50 index was up 20.25 points or 0.18% at 11,374.50.
Silver futures fall by Rs 97 on weak global cues
Taking weak cues from overseas market, silver prices dropped by Rs 97 to Rs 38,495 per kg in futures trade Tuesday as participants cut down their bets. Profit-booking at prevailing levels by speculators also weighed on silver prices. At the Multi Commodity Exchange, silver for delivery in May was trading lower by Rs 97, or 0.25 per cent, at Rs 38,495 per kg in a business turnover of 918 lots. In the international market, silver fell 0.06 per cent to USD 15.61 an ounce in New York Tuesday. Traders attributed the fall in silver prices at futures trade to a weak trend in precious metals in global markets and profit-booking by speculators.
Gold futures drop 0.27% on weak global cues, profit-booking
Gold futures traded lower by 0.27 per cent at Rs 32,138 per 10 grams Tuesday amid a weakening global trend and profit-booking by speculators. Gold for delivery in April was trading lower by Rs 86, or 0.27 per cent, at Rs 32,138 per 10 grams in a business turnover of 828 lots at the Multi Commodity Exchange. In a similar manner, gold to be delivered in August contracts fell by Rs 81, or 0.25 per cent, to Rs 32,450 per 10 grams in a business turnover of 33 lots. Analysts said the fall in gold futures was mostly in tandem with a weak trend overseas where it slipped from over three-week high hit in the previous session and profit-taking by speculators. Globally, gold prices fell 0.11 per cent to USD 1,320.90 an ounce in New York Tuesday. It had touched over three-week high of USD 1,322.70 an ounce Monday, its highest since February 28 on Monday.
Copper futures slide 0.31% on weak overseas cues
Copper prices went down by 0.31 per cent to Rs 435.80 per kg in futures trade Tuesday as speculators cut down their positions, taking negative cues from overseas markets amid muted demand at domestic spot markets. At the Multi Commodity Exchange, copper for delivery in April fell by Rs 1.35, or 0.31 per cent, to Rs 435.80 per kg in a business turnover of 1,358 lots. Analysts said, off-loading of positions by participants, tracking a weak trend at the London Metal Exchange (LME) where it slipped to over one-month low on Monday amid worries about global economic growth, led to a decline in copper prices at futures trade here. Besides, slackened demand from consuming industries in the physical market, weighed on metal prices, they added. Globally, at the LME three-month copper dropped to USD 6,295 per tonne on Monday, its weakest since February 19 before recovering to USD 6,340.
Lead futures edge up 0.11 pc on spot demand
Lead prices were trading higher by 0.11 per cent to Rs 137.95 per kg in futures trading Tuesday as speculators built up fresh positions, driven by pick-up in demand in the spot market. At the Multi Commodity Exchange, lead for delivery in current month edged higher by 15 paise, or 0.11 per cent to Rs 137.95 per kg in a business turnover of 971 lots. Market analysts said, fresh positions created by traders due to upsurge in demand by battery-makers in the physical markets, mainly helped lead prices to trade higher at futures trade.
Facebook hiring experts for its Blockchain division
Social-networking giant Facebook is seeking executives to work in its secretive Blockchain division and to work on the company's own blockchain applications and cryptocurrency.
Over 100 e-vehicle firms participate in BV Tech Expo India 2019
With Electric Mobility being pushed by the Centre towards realising its goal of making India a Green Mobility country, many startups are taking initiatives to educate the customer and enhance the acceptability of e-vehicles in the country.In line with this, M7 Creations organised the second edition of India's biggest EV event "EV India Marathon Summit - BV Tech Expo India 2019 & India E Vehicle Show".The three-day-long mega show of electric vehicles was held at NSIC exhibition complex in Delhi and witnessed participation from more than 100 e-vehicle companies and 10,000 visitors. It witnessed the presence of leading industry influencers, top-notch EV companies and exhibitors showcasing next-gen and advanced technology.Organizers conducted panel discussions with the participation of renowned personalities of the EV Industry like Sohinder Gill, Director General, SMEV, Tarun Mehta, CEO and co-founder, Ather Energy and Chairman & Rajiv Ranadive Managing Director, Pixy Electric
Volumes jump at Phoenix Mills Ltd counter
Phoenix Mills Ltd witnessed volume of 72922 shares by 10:47 IST on BSE, a 39.07 times surge over two-week average daily volume of 1866 shares
Jet Airways shares rally further; zoom nearly 9 pc as Naresh Goyal steps down
Shares of Jet Airways continued to rise for the second day Tuesday, zooming nearly 9 per cent on the bourses following the exit of Founder and Chairman Naresh Goyal and his wife Anita Goyal from the board of the ailing airline. The stock opened on a bullish note Tuesday and jumped 8.80 per cent to Rs 276.90 on the BSE and at the NSE, shares advanced 8.93 per cent to Rs 276.80. Shares of Jet Airways had zoomed 15.5 per cent on Monday. Naresh Goyal and his wife will resign from the board of the airline, according to a regulatory filing Monday. The decision was taken at the airline's board meeting held in Mumbai Monday. In the filing to the stock exchanges, Jet Airways Monday said Naresh Goyal, Anita Goyal and one nominee of Etihad Airways PJSC would step down from the board. Abu Dhabi-based Etihad is a strategic partner with 24 per cent stake in Jet Airways. Naresh Goyal would also cease to be the chairman, the filing had said. Further, an immediate funding of up to Rs 1,500 crore would
Clayfin Names Rajesh Narasimha as the New CEO
/ -- Clayfin Technologies announced today that Rajesh Narasimha has been promoted as the CEO, effective April 1, 2019. Rajesh previously worked as the firm's Chief Sales Officer. He will be succeeding Kannan Ramasamy, who will continue to be on the Board of Directors and a mentor to the management team at Clayfin. Kannan Ramasamy said, "Rajesh is an exceptional business leader with sound understanding of the international and domestic markets, good knowledge of the Banking industry, and ability to build and nurture strong client relationships. Echoing the sentiment of the Board of Directors, we feel that his deep expertise coupled with a strong recognition of the Clayfin promise, will see Clayfin emerge as a strong player in the digital landscape under his leadership." Rajesh Narasimha joined Clayfin in April 2015 as the Chief Sales Officer, to expand and lead the Sales, Marketing, Business Development and Solutioning teams. He has systematically focused on understanding client ...
L&T inches up after large order win
Larsen & Toubro rose 0.57% to Rs 1385 at 10:42 IST on BSE after the company said its hydrocarbon unit won a large order from Tawfiq Coke Products, Oman.
Strong market breadth
A bout of volatility was seen as the key indices extended gains in morning trade. At 10:22 IST, the barometer index, the S&P BSE Sensex, was up 117.87 points or 0.31% at 37,926.78. The Nifty 50 index was up 38.25 points or 0.34% at 11,392.50.
US stocks end mostly lower
Weak global data impact sentiment
Board of Bhageria Industries approves change in directorate
On 25 March 2019
Outcome of board meeting of Jet Airways (India)
Held on 25 March 2019
Mizoram govt submits memorandum to Finance Commission team
Mizoram government has submitted a memorandum to the visiting 15th Finance Commission team demanding Rs 94,647.33 crore for the state, officials said Tuesday. As part of its visit to the different states across the country before submitting its recommendation, the 15th Finance Commission team led by its chairman N K Singh arrived in Mizoram on Monday. The Finance Commission team held meetings with the Mizoram chief secretary Lalnunmawia Chuaungo and senior state government officials on Monday. The state government has asked for an award of Rs 57,737.38 crore for pre-devolution revenue status, Rs 17,357.90 crore for meeting requirements under capital expenditure and Rs 5,779 crore for maintenance of state assets, the officials said. Other financial proposals submitted included Rs 1,283.70 crore for implementation of enhanced pay of the seventh Central pay commission for the state government employee. The memorandum also demanded Rs 1,000 crore for State Disaster relief .