Page 676 - Business Finance
Volumes soar at Varun Beverages Ltd counter
Varun Beverages Ltd clocked volume of 7.74 lakh shares by 10:48 IST on BSE, a 300.44 times surge over two-week average daily volume of 2575 shares
Gold futures rise 0.17 pc on global cues
Gold prices went up by 0.17 per cent to Rs 32,195 per 10 grams in futures trade Monday as speculators raised bets amid positive global cues. In futures trading at the Multi Commodity Exchange, gold for delivery in April rose by Rs 55, or 0.17 per cent, to Rs 32,195 per ten grams in a business turnover of 1,030 lots. Likewise, the yellow metal for delivery in June was trading higher by Rs 48, or 0.15 per cent, to Rs 32,441 per ten grams in 156 lots. Analysts said, widening of positions by participants in tandem with firm trend overseas as US recession fears boosted appeal for the bullion as safe-haven asset, influenced gold prices here at futures trade. Globally, gold rose 0.19 per cent to USD 1,316.90 an ounce in New York Monday.
Copper futures slide 0.06% on overseas cues, low demand
Copper prices were down 0.06 per cent to Rs 437.20 per kg in futures trade Monday as speculators cut positions, taking negative cues from Asian markets amid easing demand from domestic consuming industries. At the Multi Commodity Exchange, copper for delivery in April fell by 25 paise, or 0.06 per cent, to Rs 437.20 per kg in a business turnover of 1,830 lots. Analysts said, offloading of positions by participants amid a weak trend in Asian trade as investors worried about the prospect of a recession in the US, the world's biggest economy and muted demand from consuming industries in the physical market, led to a decline in the copper prices at futures trade. In Asian trade, at the Shanghai Futures Exchange, the most-traded May copper fell 1.6 per cent, to 48,300 yuan (USD 7,191.57) per tonne. At the London Metal Exchange (LME), three-month copper traded flat at USD 6,313 per tonne.
Silver futures edge up by 0.39% on positive global leads
Silver prices edged higher by 0.39 per cent to Rs 38,511 per kg in futures trade Monday as speculators created fresh positions. At the Multi Commodity Exchange, silver for delivery in far-month May rose by Rs 149, or 0.39 per cent to Rs 38,511 per kg in business turnover of 825 lots. Similarly, the white metal for delivery in April was trading higher by Rs 138, or 0.36 per cent to Rs 38,529 per kg in 3,063 lots. Traders attributed the rise in silver prices at futures trade to fresh positions built up by traders, tracking a firm trend overseas on fears of economic slowdown that raised appeal for the bullion as a safe-haven investment.
PSU OMCs firm up as crude oil price declines
Shares of three state-run oil marketing companies rose by 0.74% to 1.47% at 10:51 IST on BSE after crude oil futures declined in the international commodity market.
Indian Oil Corporation and BPRL acquire 100% stake in Abu Dhabi Onshore Block 1 Concession
The Concession has been awarded by the Supreme Petroleum Council (SPC), on behalf of the Abu Dhabi government, where participation of the Indian Consortium is through a Special Purpose Vehicle (SPV), Urja Bharat, which comprises of Indian Oil : 50%, BPRL: 50%. The Indian Consortium will make an investment of USD 170 million for the exploration activities. This award is part of Abu Dhabi's first-ever competitive block bid round.
Board of Intellect Design Arena approves change in directorate
At meeting held on 24 March 2019
US economists less optimistic, see slower growth: survey
US economists are less optimistic about the outlook and sharply lowered their growth forecasts for this year, amid slowing global growth and continued trade frictions, according to a survey published Monday. And while the odds of a recession by 2020 remain low, they are rising, the National Association for Business Economics said in their quarterly report. The panel of 55 economists now believe "the US economy has reached an inflection point," said NABE President Kevin Swift. The consensus forecast for real GDP growth was cut by three tenths from the December survey, to 2.4 per cent after 2.9 per cent expansion in 2018. The economy is expected to slow further in 2020, with growth of just 2 per cent, the report said. Three-quarters of respondents cut their GDP forecasts and believe the risks of to the economy are weighted to the downside. "A majority of panelists sees external headwinds from trade policy and slower global growth as the primary downside risks to growth," NABE survey ...
Markets in red: Sensex tanks 330 points, Nifty 100
Key equity indices opened lower on Monday and fell steeply. The benchmark declined over 330 points while the Nifty was trading 103 points lower.
Steel Authority of India Ltd Slides 2.99%, S&P BSE Metal index Drops 1.56%
Steel Authority of India Ltd has added 2.03% over last one month compared to 2.89% gain in S&P BSE Metal index and 5.58% rise in the SENSEX
Sensex drops below 38,000 in early trade
Trading for the week began on a subdued note as domestic stocks dropped in early trade on negative Asian stocks. At 9:28 IST, the barometer index, the S&P BSE Sensex, was down 304.05 points or 0.8% at 37,860.56. The Nifty 50 index was down 89 points or 0.78% at 11,367.90. The Sensex dropped below the psychological 38,000 in early trade.
Board of Bhagwandas Metals approves change in directorate
At meeting held on 23 March 2019
TTK Prestige spurts as board to mull bonus issue
TTK Prestige rose 3.96% to Rs 8094.90 at 9:32 IST on BSE after the company said its board will meet on 29 March 2019 to recommend issue of bonus shares, subject to the approval of shareholders.
A2Z Infra Engineering Ltd Surges 3.95%
A2Z Infra Engineering Ltd has added 20.18% over last one month compared to 9.19% gain in S&P BSE Utilities index and 5.49% rise in the SENSEX
Market may open on a flat note
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 3.50 points at the opening bell.
Rupee sheds 16 paise against US dollar in early trade
The rupee depreciated 16 paise to 69.11 against the US dollar in opening trade Monday on month-end demand for the American currency from importers amid a weak opening in domestic equity market. Besides, the US dollar edged back from a six-week low against the yen and this factor also weighed on the Indian rupee, dealers said. At the Interbank Foreign Exchange (forex) market, the domestic unit opened lower at 69.07 and slipped further to 69.14 but recovered partially to quote 16 paise down at 69.11 against the dollar. On Friday, the rupee had ended lower by 12 paise at 68.95 against the American currency on rise in demand for the greenback from importers and sell-off in domestic equities. Forex dealers said the local unit was weighed down by strong dollar demand from importers to make month-end payments. However, sustained foreign fund inflows and easing crude prices restricted the fall. Foreign portfolio investors (FPIs) bought equities worth Rs 1,374.57 crore Friday, provisional ...
TTK Prestige in focus on bonus issue plan
TTK Prestige announced that its board will meet on 29 March 2019 to recommend issue of bonus shares, subject to the approval of shareholders. The announcement was made after market hours on Friday, 22 March 2019.
Only 39% of 79 lakh PMAY homes built so far: Report
With only 39 per cent of the homes sanctioned under the Pradhan Mantri Awas Yojana built so far, completion of affordable housing projects under the PMAY has been slow, according to an Anarock report on Sunday.
Despite lawsuits, Bayer boss calls Monsanto takeover 'a good idea'
The boss of German chemicals giant Bayer insisted Sunday its multi-billion dollar takeover of Monsanto was a "good idea", despite huge legal costs piling up over its Roundup weedkiller. "The Monsanto acquisition was and is a good idea," Werner Baumann told newspaper Frankfurter Allgemeine Sonntagszeitung, when asked if he would have changed his mind about buying the US group if he could. Bayer bought Monsanto for USD 63 billion but the deal has turned out to be plagued with other massive costs. Just two months after the acquisition was completed, Monsanto lost a case to a school groundskeeper suffering from terminal non-Hodgkin's lymphoma, who had sued the company over the glyphosate weedkillers Roundup and Ranger Pro. Monsanto was initially ordered to pay USD 289 million to Johnson, before the damages were reduced to USD 78.5 million. Bayer has filed an appeal. The company suffered a new set back this month as a US jury ruled that Roundup was a "substantial factor" in another case ..
NITI Aayog to hold FinTech Conclave on Monday
The NITI Aayog will organise the FinTech Conclave 2019 on financial technologies in the national capital on Monday, according to an official announcement here.