Page 669 - Business Finance
Outcome of board meeting of W S Industries (India)
Held on 25 March 2019
Kalpataru Power Transmission to acquire Swedish EPC Company
The entities shall be acquired at an Enterprise value of approx. USD 24 million. The equity value and exact cost of acquisition will be derived on the closing date.
Markets in green: Sensex up 70 pts, Nifty at 11,380
Key equity indices had a muted start on Tuesday. The benchmark Sensex was up 70 points while the Nifty advanced by 24 points.
MEP Infra's subsidiary MEP Longjian ACR achieves financial closure for road project in Maharashtra
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Australia Market bounces back in green
Shares of materials and resources rebounded despite lower copper prices, with BHP Group and Rio Tinto up almost 1% each, meanwhile Fortescue Metals rose more than 1%.
Japan Nikkei bounces on bargain hunting
Exporters rebounded, with Yaskawa Electric rising 2.4%, Advantest Corp up 2% and Panasonic Corp bouncing 2.9%. Mitsubishi Electric and Sony rose almost 3% each,% and Canon advanced almost 2%. Among the major automakers, Honda rose more than 2% and Toyota added more than 1%.
MEP Infrastructure Developers update on NHAI road project in Maharashtra
The Authority now has given 25 March 2019 as the Appointed Date for the project vide letter dated 25 March 2019.
Rolta India Ltd Slides 4.34%
Rolta India Ltd has added 21.37% over last one month compared to 1% fall in S&P BSE IT Sector index and 5.63% rise in the SENSEX
Market slightly higher in early trade
Local stocks were trading with small gains in early trade. At 9:22 IST, the barometer index, the S&P BSE Sensex, was up 26.12 points or 0.07% at 37,835.03. The Nifty 50 index was up 13.20 points or 0.12% at 11,367.45.
Unipropitia - FZCO to invest up to USD 25 mn in Infibeam Avenues' subsidiary
Unipropitia FZCO is a leading professional services and investment firm headquartered in UAE. The company has made investments in several technology companies with focus on large scale technology implementation for Institutions and Government in the middle east region.
Prime Focus Technologies to launch suite of AI-led micro services for Media & Entertainment enterprises
Vision Cloud is a suite of micro-services tailored for an extendible set of use cases and content from customers, built on top of commonly available models from Microsoft, IBM Watson, Google Vision etc., along with custom models developed by PFT.
Indian Oil Corporation Ltd Spikes 2.93%, S&P BSE Oil&Gas index Rises 1.49%
Indian Oil Corporation Ltd has added 24.01% over last one month compared to 11.81% gain in S&P BSE Oil&Gas index and 5.53% rise in the SENSEX
Jet Airways spurts after Naresh Goyal steps down as chairman
Jet Airways (India) rose 8.35% to Rs 275.75 at 9:24 IST on BSE after the company said Naresh Goyal stepped down as chairman.
Rupee rises 15 paise to 68.81 against US dollar in early trade
The rupee strengthened by 15 paise to 68.81 against the US dollar in opening trade Tuesday on fresh selling of the greenback by exporters. The weakening of the US dollar against some currencies overseas and a higher opening in domestic equity market, supported the local unit, a currency dealer said. At the Interbank forex market, the rupee opened higher at 68.88 and strengthened further to 68.81 against the US dollar, higher by 15 paise over its previous close. On Tuesday, the rupee ended almost flat at 68.96 per US dollar as participants preferred to wait on the sidelines to see the outcome of RBI's first-ever rupee-dollar swap auction. Brent crude futures, the global oil benchmark, was trading 0.09 per cent up at USD 67.27 per barrel. Meanwhile, the benchmark BSE Sensex recovered by 77.38 points, or 0.20 per cent, to 37,886.29 in early trade Tuesday. Foreign portfolio investors (FPIs) bought equities worth a net Rs 150.40 crore Monday, provisional data showed.
After Jet Airways bailout Vijay Mallya criticises public sector banks for "double standards"
Embattled liquor baron Vijay Mallya Tuesday lashed out at public sector banks for "double standards" under the current NDA regime for their intervention to bailout Jet Airways while the same lenders made his Kingfisher airlines "fail ruthlessly". In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said,"...Only wish the same was done for Kingfisher". "Happy to see that PSU Banks have bailed out Jet Airways saving jobs, connectivity and enterprise," he said. He further said,"the same PSU Banks let India's finest airline with the best employees and connectivity fail ruthlessly. Double standards under NDA." Mallya, who is facing extradition to India from the UK, lamented that his efforts to save Kingfisher Airlines was "not recognised and instead slammed in every possible way". "I invested over Rs 4,000 crores into Kingfisher Airlines to save the company and its employees," he claimed. He also lashed out at the
Vikas Wsp receives export order worth Rs 230 crore
To confirm final orders a technical expert team of IMC Kelium USA is visiting on 20 April, 2019 the plant of the company. It is a newer guar gum product developed by the company during 2016-2017 and now it has been approved for large scale production of potash fertilizers to increase its stability providing better conditioning.
Board of Karur Vysya Bank appoints Chairman
On 25 March 2019
Take my money, save Jet Airways: Mallya urges banks
Businessman Vijay Mallya on Tuesday urged Indian banks to "take his money" and save cash-strapped Jet Airways."I repeat once again that I have placed liquid assets before the Hon'ble Karnataka High Court to pay off the PSU Banks and all other creditors. Why do the Banks not take my money. It will help them to save Jet Airways if nothing else," the liquor baron tweeted.Mallya, who is currently facing trial in a UK Court, went on to highlight the "double standards" of the NDA government, and questioned why public sector banks pitched in to save Jet Airways but let his company, Kingfisher Airlines, "fail ruthlessly.""Happy to see that PSU Banks have bailed out Jet Airways saving jobs, connectivity and enterprise. Only wish the same was done for Kingfisher," he wrote on the micro-blogging site."I invested over 4000 crores into Kingfisher Airlines to save the Company and its employees. Not recognised and instead slammed in every possible way. The same PSU Banks let India's finest airline ..
Jet Airways in spotlight after Naresh Goyal steps down as chairman
Jet Airways announced after market hours yesterday, 25 March 2019, that its board approved conversion of Rs 1 of lenders' debt into equity by the issuance of 11.40 crore equity shares, in accordance with the RBI Circular of 12th February 2018. With this, the consortium of Indian lenders, led by State Bank of India (SBI), will become the majority shareholders of Jet Airways.
Stocks may open on firm note
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 69 points at the opening bell.