Page 681 - Business Finance
Aurionpro wins order from leading bank in Singapore
lntegro Technologies (a wholly owned subsidiary of Aurionpro Solutions Ltd) has been awarded a contract by the said bank for the extension of REACH CUMS platform, its Loan Origination System Product Suite, to its network across more than 10 countries including Malaysia and China. The Order is valued in excess of Rs 20 crore, the implementation will be completed in various milestones upto February 2020.
AIADMK leader Jayakumar's son has no car, has 2.90 Cr assets
Ruling AIADMK's J Jayavardhan, who is seeking re-election from South Chennai to the Lok Sabha, has assets worth Rs 2.90 crore and does not own a car. Jayavardhan, who is son of senior AIADMK leader and Fisheries Minister D Jayakumar, filed his nomination Friday. According to the affidavit filed with the Election Commission, Jayavardhan,who is a doctor by qualification, owns 2,998 square feet land at Kanathur Reddy Kuppam village in Kancheepuram district with a market value of Rs 2.40 crore. Declaring liabilities of Rs 96.21 lakh, the sitting Lok Sabha MP said he has movable assets of Rs 49.66 lakh, including gold ornaments worth Rs three lakh. His wife, Swarnalakshmi, who is also a doctor, has movable assets worth Rs 38.67 lakh. This includes gold valued at Rs 27.36 lakh and a car worth Rs 8.20 lakh.
Sensex snaps 8-day winning run on profit-booking; logs weekly gain
Snapping its eight-day winning streak, the BSE benchmark Sensex tumbled over 222 points Friday as investors scrambled to book profits after the recent rally while ratings agency Fitch slashed India's growth forecast. Lacklustre global cues and a depreciating rupee also weighed on the markets, analysts said. The 30-share index opened on a positive note at 38,452.47, but soon succumbed to heavy selling pressure, touching an intra-day low of 38,089.36. It finally closed at 38,164.61, down by 222.14 points, or 0.58 per cent. On similar lines, the NSE Nifty shed 64.15 points, or 0.56 per cent, to finish at 11,456.90. On a weekly basis, the Sensex added over 140 points, while the wider Nifty gained 30 points. Fitch Ratings Friday cut India's GDP growth forecast for the next fiscal to 6.8 per cent from 7 per cent estimated earlier on weaker than expected economic momentum. In its latest Global Economic Outlook, Fitch also slashed GDP growth forecast for current fiscal ending March 2019 to ...
Sensex down 222 points, breaks 8-day winning streak
The Sensex reversed early gains and closed lower on Friday, as investors took to booking profit after gaining for eight straight sessions.
Avan Motors launches electric scooter Trend E, price starts at Rs 56,900
Electric scooter maker Avan Motors India Friday launched its new model Trend E priced at Rs 56,900 and Rs 81,269 (ex-showroom). The Trend E with single-battery is tagged at Rs 56,900 while the double-battery version is priced at Rs 81,269, the company said in a statement. Bookings have been opened from Friday at a fee of Rs 1,100, it added. The new model is powered by a lithium-ion battery with a top speed of 45 kmph and has a range of 60 km with single battery and 110 km with double battery, it said, adding the battery can be fully charged in 2 to 4 hours. Avan Motors Business Development Head Pankaj Tiwari said the company has worked extensively to create the Trend E scooter as a vehicle that is suitable for Indian roads. "We are delighted with the response the scooter has received in its pre-launch phase and are confident that customers too will appreciate the Trend E and all its features," he added.
Lear Invests in Israel-Based Maniv Mobility Venture Capital Fund
/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced it has invested in an Israel-based venture capital fund managed by Maniv Mobility that is focused on advancing mobility technology. The investment, which is being made through Lear Innovation Ventures (LIV), enables future collaboration and deepens Lear's involvement in the mobility technology ecosystem. Maniv Mobility's portfolio and investing activities are largely focused on Israeli start-up companies in the connected, autonomous, ridesharing and mobility sectors, as well as on investments in the U.S. and other markets. "Maniv is recognized as one of the premier investment funds focusing on the key trends in the automotive market, which makes it a great opportunity for LIV," said John Absmeier, Lear's Chief Technology Officer. "This is an exciting time of transformation for the industry, and Israel is at the forefront of the flourishing auto tech sector. We look ...
Nifty March futures at premium
Turnover in F&O segment declines
Gold rises on robust demand, global cues
Gold prices Friday rose by Rs 80 to Rs 33,050 per 10 gram at the bullion market on increased buying from jewellers amid firm trend overseas, according to All India Sarafa Association. Tracking gold, silver, too, advanced by Rs 270 to Rs 39,270 per kg due to increased offtake from industrial units and coin makers. Traders attributed the rise in gold prices to firm trend overseas which influenced the market sentiment leading to an increased buying from local jewellers. Globally, gold rose 0.28 per cent to USD 1313.60 an ounce and silver was up 0.13 per cent to USD 15.57 an ounce in New York. On Thursday, Delhi bullion market was closed on account of "Holi". In the national capital, gold of 99.9 per cent and 99.5 per cent purities advanced by Rs 80 each to Rs 33,050 and Rs 32,880 per 10 gram, respectively. Sovereign gold, however, remained flat at Rs 26,400 per piece of 8 gram. Silver ready also moved up by Rs 270 to Rs 39,270 per kg and weekly-based delivery by Rs 246 to Rs 38,126 per ..
Board of Kreon Finnancial Services approves change in directorate
At meeting held on 22 March 2019
Volatile session ends with loss as bulls take breather
The Sensex snapped an eight-day rising streak on Friday amid profit booking by investors. The Nifty ended below the 11,500 mark after moving above and below that mark in intraday trade.
Quick Wrap: Nifty PSU Bank Index falls 2.06%
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Technology elevating financing for travel
Given how mobile-centric the world has become, it comes as no real surprise that people are increasingly turning to technology to browse, analyse and purchase conveniently from wherever they are, regardless of location.The travel industry is constantly transforming as new technology is designed and developed. The United Nations World Tourism Organization (UNWTO) estimates that India will account for 50 million outbound tourists by 2020. Despite the slowdown due to rupee fluctuations, the Indian outbound numbers have been growing at an average annual growth rate of 10-12% over the last seven years.But, what is interesting to see is that consumers are now depending on technology not only to plan their travel but also to finance them. At the same time, financing companies have made plan travel easier through pre-approved, instant loans or interest-free EMI that is available on technologically-enabled apps and highly interactive websites.Bajaj Finance Ltd., the lending arm of Bajaj ...
Canara Bank launches issue of Foreign Currency Bonds under MTN programme
The Bonds will be listed in Singapore Stock Exchange and the funds raised will be utilized for deploying in long term assets by the Bank's foreign branches.
BoB-Dena-Vijaya Bank to be injected with Rs 5K cr
The Bank of Baroda may get Rs 5,000 capital infusion from the Finance Ministry ahead of its united operations as a merged entity along with the Vijaya Bank and Dena Bank from April 1.
Canara Bank issues bonds from London branch to raise up to USD 400 mn
State-owned Canara Bank Friday said it has launched a bond issuance programme through its London branch to raise up to USD 400 million (about Rs 2,750 crore). "Canara Bank launched an issuance of 5-year senior unsecured bonds (Medium Term Notes) to the extent of USD 400 million under Medium Term Note (MTN) programme, through its London branch on 21st March 2019 value date 28th March 2019," the bank said in a regulatory filing. The bonds are set to mature on March 28, 2024. "The funds raised will be utilised for deploying in long-term assets by the bank's foreign branches," it said. Canara Bank said the bonds are priced at 5-year US Treasury plus 170 basis points carrying a coupon of 3.875 per cent fixed payable half yearly. The bonds will be listed on the Singapore Stock Exchange, it added. Shares of the bank closed 1.63 per cent down at Rs 271.70 a piece on the BSE.
PMO advises DoT to help BSNL with wage bill till June
The Prime Ministers' Office on Friday took stock of the telecom sector's financial position, including two ailing PSUS, and is learnt to have asked Department of Telecom to support BSNL, currently going through a huge financial crisis leading to salary default, till a new government takes over in June.
Facebook announces AI for social good summit; one-day event to be held on Mar 26
Facebook Friday said its 'AI for India Summit', focused on discussing inclusive growth and solutions to the most enduring social challenges, will be held on March 26, 2019 in Bengaluru. "The Summit will bring together key representatives from the AI (Artificial Intelligence) community in India such as policy makers, start-ups, and the developer community," Facebook said in a statement. The one-day summit would also be attended by Facebook's global AI teams. The summit has been conceptualised to serve as a platform for thought-leaders from across domains to deliberate on the possible applications of AI in areas like healthcare, education, agriculture, and crisis/disaster mitigation. "Facebook is committed to the growth of India, and wants to be an ally to India for developing an expertise in AI," it said. Facebook continuously works on AI projects for social good, the statement said adding that one of the examples of Facebook's application of AI for social good in India has been the ...
Sensex snaps 8-day winning run, dives 222 points on profit booking
Snapping its eight-day winning streak, the BSE benchmark Sensex declined by over 222 points Friday to end at 38,164.61 as investors booked profits after Fitch Ratings cut India's growth forecast. The 30-share index opened on a positive note at 38,452.47, but soon succumbed to heavy selling pressure, touching an intra-day low of 38,089.36. It finally closed at 38,164.61, down by 222.14 points, or 0.58 per cent. On similar lines, the NSE Nifty shed 64.15 points, or 0.56 per cent, to finish at 11,456.90. Fitch Ratings Friday cut India's GDP growth forecast for the next fiscal to 6.8 per cent from 7 per cent estimated earlier on weaker than expected economic momentum. Tata Motors was the biggest loser in the Sensex pack, tumbling 2.47 per cent, followed by Reliance Industries (2.44 per cent), Maruti (1.84 per cent), SBI (1.76 per cent) and Bajaj Finance (1.23 per cent). NTPC emerged as the biggest gainer in the index, spurting 3.67 per cent.
Board of Sylph Education Solutions accepts resignation of directors and change in registered office
At meeting held on 22 March 2019
China Stocks tad higher ahead of trade talks
Beijing confirmed on Thursday that trade talks will continue with the United States, with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin visiting China on March 28-29, and Chinese Vice Premier Liu He heading to Washington in April. However, U.S. President Donald Trump raised fresh concerns by threatening to leave the tariffs on Chinese goods for a "substantial period" to ensure that Beijing complies with any trade agreement.