Page 67 - Business Finance
NSE to remove Jet Airways from daily trading by month-end
Shares of grounded airline Jet Airways will be removed from daily trading of futures and options at the National Stock Exchange (NSE) from effective June 28.The reason cited by the bourse is the company's failure to respond to queries about persisting rumours in the market, NSE said in a circular late on Wednesday.NSE also cited the company's failure to submit financial results for the year ended March 31 as well as observations made by its auditor as reasons for its decision."The exchange has been seeking clarification from the company in the recent past about various rumours floating in the market, but Jet has failed to provide prompt responses. The responses have also not been clear and satisfactory," the circular said.There are concerns with regard to continuity of flow of information about the company which is very vital for the appropriate price discovery in the scrip, NSE said."Hence, trading in the scrip may not reflect the actual status of the company. Accordingly, no ...
Volumes jump at TVS Srichakra Ltd counter
TVS Srichakra Ltd saw volume of 30528 shares by 10:49 IST on BSE, a 198.39 fold spurt over two-week average daily volume of 154 shares
Cords Cable Industries gets registered as Approved Vendor for RDSO under Ministry of Railways
This approval enables the company to offer "Underground Railway Jelly Filled Quad Cable for Signalling & Telecom Installations to the Indian Railways and various projects where this approval is mandated including the Dedicated Freight Corridors, and various Metro-Rail projects.
Sintex Industries slumps after debt default
Sintex Industries fell 9.94% to Rs 4.26 at 9:36 IST on BSE after the company said it has defaulted in payment of interest/ principal amount on secured Non-Convertible Debentures.
PWC observations baseless, unjustified: Reliance Capital
The Anil Ambani-led Reliance Capital Ltd on Thursday termed audit firm Price Waterhouse & Co's (PWC) observations as baseless and unjustified.
Reliance Nippon slips as promoter to dilute stake through OFS
Reliance Nippon Life Asset Management was down by 0.55% to Rs 216.50 at 9:36 IST on the BSE after the company announced that one of the promoters of the company, Reliance Capital, has proposed offer for sale of equity shares.
Realhub Adds New Team Members Prior to Re-launch
/ -- Realhub.com previously the most visited online real estate platform, in business since 1998, announced the addition of several new team members including Bill Coffman and Harrison Turner. The globally recognized Realhub brand was an early pioneer in online real estate with the first to launch key features like guided tours, home data aggregation and related services including home values about 20 years back. The new iteration of Realhub services will make it far more efficient for Realtors to acquire customers from foreign countries. According to Realhub's Chief Executive Officer, Steve Chainani, "Realhub builds upon a simple premise that the world is getting increasingly globalized. The cross border residential buy-sell market is the fastest growing segment of the overall transactional space, with some estimates that peg its size at $1.5 trillion in dollar volume. It's exciting to leverage our global brand on a bigger footprint and serve this vast market segment with ...
Equities slip in early session, Jet Airways plunges 15 pc
Stocks traded with a negative bias during early hours on Thursday amid mixed global cues and oil prices hovering at a five-month low.All sectoral indices at the National Stock Exchange (NSE) were in the red. At 10:15 am, the BSE S & P Sensex was down 207 points at 39,550 while the Nifty 50 slipped 66 points to 11,841.Among stocks, Jet Airways dragged 15 per cent down to Rs 93.95 per share after the NSE in its circular informed that shares of the grounded airline will be removed from daily trading of futures and options effective June 28. Yes Bank tumbled 8.8 per cent after a series of downgrades by global rating agencies in recent weeks.Indiabulls Housing Finance slipped 5.5 per cent in the morning trade, a day after the company approached Supreme Court seeking that the case is heard urgently given that allegations against the company were causing a massive decline in its stock price and market cap.Vedanta, Tata Steel and JSW Steel also dropped between 1.5 and 2.4 per cent.Those ..
Mangalore Chemicals & Fertilizers gains on restarting production
Mangalore Chemicals & Fertilizers was up 1.02% to Rs 39.45 at 09:41 IST on the BSE after the company announced that it has restarted Ammonia, Urea and ABC production.
Rupee slips 4 paise to 69.38 vs USD in early trade
The rupee opened on a cautious note and fell 4 paise to 69.38 against the US dollar in early trade Thursday amid strengthening of the greenback vis-a-vis other currencies overseas, even as crude oil prices eased. Forex traders said weak macro data foreign fund outflows and cautious opening in domestic equities added pressure to the domestic unit. At the Interbank Foreign Exchange, the rupee opened on at 69.33 then fell to 69.38 against the US dollar, showing a decline of 4 paise over its previous closing. The local unit, however, pared some losses and was quoted at 69.37 against the American currency at 1005 hrs. The Indian rupee Friday had closed at 69.34 against the US dollar. Foreign institutional investors (FIIs) pulled out Rs 1,050.43 crore on a net basis Wednesday, provisional data showed. Brent crude futures, the global oil benchmark, fell 0.13 per cent to USD 59.89 per barrel. On the domestic front, the Reserve Bank of India will infuse Rs 15,000 crore into the financial ...
US stocks end in the red
Mixed economic data weigh on market sentiments
Sensex falls over 100 pts; Yes Bank tanks 9 pc
Domestic equity benchmark BSE Sensex fell over 100 points in early trade Thursday amid heavy foreign fund outflow and negative global cues. The 30-share index was trading 130.35 points, or 0.33 per cent, lower at 39,626.46 at 0940 hours. Similarly, the broader NSE Nifty was quoting 35.90 points, or 0.30 per cent, down at 11,870.30. In the previous session on Wednesday, the BSE gauge settled 193.65 points, or 0.48 per cent, lower at 39,756.81; and the Nifty fell 59.40 points, or 0.50 per cent, to close at 11,906.20. Yes Bank was the worst performer in the Sensex pack, cracking up to 8.73 per cent, after Moody's placed the private sector lender's ratings under review for a possible downgrade. IndusInd Bank, Sun Pharma, Vedanta, Tata Steel, Infosys, Hero MotoCorp, Bajaj Auto and Tata Motors too fell up to 5.75 per cent. On the other hand, L&T, TCS, Axis Bank, Bharti Airtel, Asian Paints and Bajaj Finance rose up to 1.20 per cent. According to experts, market mood was negative ...
Cosmoprof India Mumbai 2019 Hosts the Future of the Beauty Industry in India
/ -- The Cosmoprof India show, the three-day ideal business-to-business event for the fast growing market in India, organized by BolognaFiere and UBM India, got off a flying start today at the Bombay Exhibition Center (BEC). With its first edition, from June 12 till June 14, Cosmoprof India Mumbai 2019 will, for all intents and purposes, host the future of the beauty industry in India. On the show floor, in an exhibition area up to 10,260 sqm, international top buyers and distributors, opinion leaders, experts and influencers can assist in the first steps of I-Beauty. 232 companies from 23 countries and regions are showcasing products and technologies, which will lead to the development of the Made in India industry, with its specific ingredients, technicalities and treatments. The show had three country and group pavilions: Italy, USA and Korea. (Logo: https://mma.prnewswire.com/media/675607/UBM_Logo.jpg ) (Logo: https://mma.prnewswire.com/media/887631/Cosmoprof_India_Logo.jpg ...
CerraCap Ventures secures strategic investment from IIFL Wealth
/ -- CerraCap Ventures, a leading early stage technology venture capital firm, today announced a strategic investment of an undisclosed amount from a unit of IIFL Wealth Management Limited (IIFL Wealth), in CerraCap Ventures Fund II. Headquartered in Orange County, CA, CerraCap Ventures focuses on areas of Cyber Security, AI and Digital Health. Leveraging a unique "Sales and Scale" business model, CerraCap goes beyond providing just capital to early stage companies. They help startups sell into large enterprises through an ecosystem of decision makers and an influential advisory board consisting of global leaders. IIFL Wealth is one of the leading private wealth management firms in India with an AUM of around USD 24 billion. General Atlantic, a leading global growth equity firm, is among the large investors. The competitive positioning and growth prospects of IIFL Wealth have been endorsed by way of further investments from WF Asian Reconnaissance Fund (a fund managed by Ward Ferry), .
NMDC Ltd Slips 4.52%, S&P BSE Metal index Shed 1.13%
NMDC Ltd has added 11.18% over last one month compared to 3.2% gain in S&P BSE Metal index and 6.22% rise in the SENSEX
Tata Motors slips after poor JLR sales
Tata Motors lost 0.85% at Rs 168 at 09:25 IST on BSE after the company reported fall in global wholesales in May 2019 over May 2018.
Hindustan Petroleum Corporation Ltd Spurts 1.6%
Hindustan Petroleum Corporation Ltd has added 14.88% over last one month compared to 6.49% gain in S&P BSE Energy index and 6.27% rise in the SENSEX
Market trades lower in opening deals
Key benchmark indices were trading lower in early trade. At 9:19 IST, the barometer index, the S&P BSE Sensex, was down 119.55 points or 0.30% at 39,637.26. The Nifty 50 index was down 38.35 points or 0.32% at 11,867.85.
Stocks may slide on negative global cues
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 24.50 points at the opening bell amid negative global cues.
Tata Motors may fall after poor JLR sales
The Tata Motors Group global wholesales, including Jaguar Land Rover, were at 82,374 units, lower by 23% in May 2019 over May 2018. The announcement was made after market hours yesterday, 12 June 2019.