Page 706 - Business Finance
Jet grounds four more aircraft due to non-payment of amounts to lessors
Beleaguered carrier Jet Airways said on Monday it has grounded four more aircraft due to non-payment of amounts outstanding to lessors under their respective lease agreements.Facing the worst financial crisis of its 25-year existence, the airline has grounded about half its fleet, cancelled flights, delayed salaries and defaulted on loan and other payments."Further to our letter on March 13, we now write to inform you that an additional four aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements," Kuldeep Sharma, Jet's Vice President for Global Compliance and Company Secretary, informed stock exchanges in regulatory filings.The company is actively engaged with all its aircraft lessors and regularly provides them with updates on the efforts undertaken to improve its liquidity, he said adding aircraft lessors have been supportive of the company's efforts in this regard.Jet said it is also making all efforts to minimise ...
Lupin drops after USFDA action
Lupin lost 4.16% to Rs 752.65 at 11:55 IST on BSE after the USFDA classified the inspection of its Somerset facility as Official Action Indicated.
Orbit Exports Ltd leads gainers in 'B' group
SPML Infra Ltd, Landmark Property Development Company Ltd, Greenlam Industries Ltd and Brigade Enterprises Ltd are among the other gainers in the BSE's 'B' group today, 18 March 2019.
Prestige Estates Projects Ltd leads gainers in 'A' group
Bombay Dyeing & Manufacturing Company Ltd, Sundram Fasteners Ltd, Just Dial Ltd and IIFL Holdings Ltd are among the other gainers in the BSE's 'A' group today, 18 March 2019.
Asia-Pacific Private Equity: India and China lead deals but fund-raising slowing
Singapore, Mar 18 (ANI): Asia-Pacific private equity (PE) continued to set new highs for the industry in 2018 but investors should expect tougher times ahead. This according to a recently released report on the PE market by global management consultancy, Bain and Company.In 2018, deals values hit record highs together with exit values but fund-raising declined.Leading the way in Asia-Pacific deal-making are China and India, which accounted for 75 percent of the total deal value in the region. Asia-Pacific deal value rose to USD 165 billion in 2018, exceeding the all-time high of USD 159 billion of a year earlier and 48 percent greater than the 2013- 17 average.China saw a staggering USD 94 billion of total private equity investment value last year, up 64 percent over the previous five-year average. However, it's important to note that China's private equity market consists of two markets which operate very differently - one for transactions in renminbi which is almost entirely ...
Lead futures rise 0.11% as demand picks up
Amid rising demand from consuming industries at spot market, lead prices rose 0.11 per cent to Rs 142 per kg Monday in futures market as speculators built up fresh positions despite a weak trend in base metals. At the Multi Commodity Exchange, lead for delivery in current month was trading higher by 15 paise, or 0.11 per cent, at Rs 142 per kg in a business turnover of 878 lots. Market analysts said fresh positions created by traders amid pick up in demand from battery-makers in the spot market, supported the rise in lead prices but a weak trend in the base metals pack overseas on on weak US manufacturing data, restricted gains. In Asian trade, lead fell further by 1.16 per cent at Shanghai.
Mentha oil futures fall 1.40% on muted demand
Mentha oil prices fell 1.40 per cent to Rs 1,666.90 per kg in futures trade Monday as speculators trimmed positions on muted demand from consuming industries in the spot market. Moreover, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh fuelled the downtrend. At the Multi Commodity Exchange, mentha oil for delivery in March contracts declined Rs 23.70, or 1.40 per cent, to Rs 1,666.90 per kg in a business turnover of 352 lots. On similar lines, the oil for delivery in far-month May contracts traded lower by Rs 19, or 1.66 per cent, at Rs 1,127 per kg in 24 lots. Analysts said off-loading of positions by participants amid subdued demand from consuming industries in spot market led to the decline in mentha oil prices in futures trade.
Silver futures fall Rs 166 on overseas cues
Amid weak global cues, silver prices fell by Rs 166 to Rs 37,921 per kg in futures trade Monday as speculators cut positions. At the Multi Commodity Exchange, silver for delivery in May was trading lower by Rs 166, or 0.44 per cent, to Rs 37,921 per kg in business turnover of 990 lots. In a similar fashion, the April contract of white metal fell by Rs 159, or 0.42 per cent to Rs 37,960 per kg in 1,239 lots. Analysts said cutting down of positions by participants in line with a weak trend overseas as equity markets gained and the dollar steadied ahead of a US Federal policy meeting later this week, led to the fall in futures. Globally, silver was down 0.07 per cent to USD 15.35 an ounce in New York.
Nickel futures fall 0.28% on weak global cues
Nickel prices were lower by 0.28 per cent to Rs 886.50 per kg in futures trade Monday as speculators cut down their bets amid weak global cues. At the Multi Commodity Exchange, nickel for delivery in current month fell by Rs 2.50, or 0.28 per cent, to Rs 886.50 per kg in a business turnover of 2,815 lots. Market analysts said trimming of positions by participants following a weak trend in base metals in global markets after weak US manufacturing data, led to the fall in nickel prices at futures trade here. Globally, at the London Metal Exchange (LME), three month nickel fell 0.3 per cent to USD 12,860 per tonne.
Volumes soar at Bharti Infratel Ltd counter
Bharti Infratel Ltd recorded volume of 1600.53 lakh shares by 10:49 IST on BSE, a 1801.13 times surge over two-week average daily volume of 88863 shares
Gold futures slip 0.50% on global cues
Gold prices slipped by 0.50 per cent to Rs 31,900 per 10 grams in futures trade Monday after participants trimmed positions, taking weak cues from global markets. At the Multi Commodity Exchange, gold for delivery in far-month June fell by Rs 160, or 0.50 per cent, to Rs 31,900 per ten grams in business turnover of 105 lots. Gold to be delivered in April month also fell by Rs 159, or 0.50 per cent to quote at Rs 31,667 per ten grams in 965 lots. Market Analysts said off-loading of positions by traders, tracking a weak trend overseas as equity markets gained and the dollar steadied ahead of a US Federal Reserve policy meeting later this week, weighed on gold prices in futures trade. Meanwhile, gold prices fell 0.31 per cent to USD 1,299.30 an ounce in New York Monday.
Mr. Binish Chudgar Wins the EY Entrepreneur of the Year 2018 Award
/ -- Mr. Binish Chudgar, Vice Chairman & Managing Director of Intas Pharmaceuticals Ltd., was awarded the prestigious Ernst & Young 'Entrepreneur of the Year 2018' Award in the Life Sciences & Healthcare category. The gala ceremony was held in Jio Garden, Mumbai, India on 12th February, 2019 from 6 pm onwards. EY Entrepreneur of the Year is the world's most prestigious business award for entrepreneurs. As the first and only truly global award of its kind, EY Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in 60 countries. Mr. Binish Chudgar was bestowed the award for his multifaceted entrepreneurial ingenuity. His relentless pursuit of excellence through product innovations, strategic acquisitions, consistent growth, strong marketing models and organisational sustainability were the key factors behind his ...
Jubilant FoodWorks sizzles after opening restaurant in Dhaka
Jubilant FoodWorks rose 1.18% to Rs 1,358.90 at 10:18 IST on BSE after the company said that Domino's Pizza was officially launched in Bangladesh with the opening of its first restaurant in Dhaka.
IRB Infrastructure Developers receives provisional certificate for Yedeshi Aurangabad BOT project
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US stocks end with good gains
U.S.-China trade negotiations boost sentiments
Sensex up 300 points, Nifty above 11,500
The benchmark Sensex jumped over 300 points higher, while the Nifty crossed the 10,500 mark during the morning trade session on Monday.
Mindtree gains on buyback plan
Mindtree rose 1.13% to Rs 956.70 at 09:32 IST on BSE after the company scheduled a board meeting on 20 March 2019 to consider the proposal to buyback the fully paid-up equity shares of the company.
Maruti Suzuki India Ltd Slides 2.44%
Maruti Suzuki India Ltd has lost 0.09% over last one month compared to 7.56% gain in S&P BSE Auto index and 7.1% rise in the SENSEX
Indian Oil Corporation Ltd Surges 4.21%, S&P BSE Oil&Gas index Gains 1.53%
Indian Oil Corporation Ltd has added 30.12% over last one month compared to 16.15% gain in S&P BSE Oil&Gas index and 6.87% rise in the SENSEX
Rupee appreciates 17 paise to 68.93 against US dollar
The rupee appreciated 17 paise to 68.93 against the US dollar in opening trade Monday driven by weakening greenback in overseas markets and sustained foreign inflows. Besides, narrowing country's trade deficit and selling of the American currency by exporters supported the domestic currency, dealers said. The marginal 2.44 per cent increase in exports as well as lower imports of gold and petroleum products in February significantly narrowed the country's trade deficit to USD 9.6 billion, according to data released by the commerce ministry Friday. Extending its gains for the sixth session, the rupee opened higher at 68.92 at the interbank forex market and gained further ground to touch 68.87. However, it pared some gains and was quoting 17 paise higher at 68.93 at 0920 hours. The rupee Friday had jumped 24 paise to close at 69.10 against the US dollar on sustained foreign fund inflows and heavy buying in domestic equities. Meanwhile, foreign institutional investors (FIIs) remained net .