Page 725 - Business Finance
Tata Global Beverages Ltd soars 1.17%, Gains for third straight session
Tata Global Beverages Ltd is quoting at Rs 207.3, up 1.17% on the day as on 12:54 IST on the NSE. The stock is down 25.57% in last one year as compared to a 8.61% gain in NIFTY and a 14.87% gain in the Nifty FMCG index.
HDFC Bank Ltd gains for fifth session
HDFC Bank Ltd is quoting at Rs 2222.3, up 2.36% on the day as on 12:49 IST on the NSE. The stock is up 19.19% in last one year as compared to a 8.6% gain in NIFTY and a 15.21% gain in the Nifty Bank.
Asian Granito India to raise Rs 90 crore through issue of convertible warrants
The 50 lakh warrants to be issued to promoter and non promoter group in the equal proportion. Promoter Group including Kamlesh Patel, Mukesh Patel and Suresh Patel will be allotted in total 25 lakh fully convertible warrants and the rest to the non-promoter group. The warrant holders shall be entitled to convert the warrants into equal number of equity shares of face value of Rs 10/- each, on receipt of entire amount in one or more tranches, within a period of 18 months from the date of the allotment.
Jubilant Foodworks launches first 'Hong's Kitchen' restaurant in Gurugram
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Crude oil futures up on positive demand
Crude oil prices rose by Rs 22 to Rs 4,029 per barrel in futures trade Wednesday as speculators were indulged in creating speculative positions, taking positive cues from domestic markets. At the Multi Commodity Exchange, crude oil for delivery in April was trading higher by Rs 22, or 0.55 per cent, to Rs 4,029 per barrel, in a business turnover of 964 lots. Analysts said speculators built fresh positions after oil prices rose in the global markets, giving lift to crude oil prices in futures trade here. Meanwhile, West Texas Intermediate gained 0.69 per cent to USD 57.26, while global benchmark Brent was up 0.43 per cent to USD 66.96 per barrel.
Country's leading food processing player, Foods and Inns Limited declares bonus issue
The Board of Directors Board of Foods and Inns Limited at its meeting held on March 11th, 2019 recommended bonus issue of equity shares in the ratio of 2 (Two) Equity Shares of Re 1/- each for every 1 (One) Equity Share of Re 1/- each held by the shareholders of the Company as on the record date, subject to the approval of the shareholders.This bonus was approved by the board as the company had recently monetized its prime commercial factory land in Chembur, Mumbai for approximately Rs 148 crores in the month of October 2018 and had repaid the debt of over Rs 100 crores in the same month. The directors also felt that it is appropriate to reward the shareholders with a bonus issue given the successful monetization of the company asset. The record date for the same will be decided post approval in AGM.Foods and Inns Limited declared its Q3 financial results last month. Q3 revenue for the current financial year is Rs 8,463.01 lakhs and first nine months revenue stands at Rs 22,233.99 ...
Gold futures up Rs 154 as participants create position
Gold prices rose by Rs 154 to Rs 32,154 per 10 gram in futures trading Wednesday as speculators widened their bets, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in April was trading higher by Rs 154, or 0.48 per cent, at Rs 32,154 per 10 gram in a business turnover of 9,276 lots. Similarly, the June contracts of the precious metal was trading up Rs 171, or 0.53 per cent, at Rs 32,432 per 10 gram with a business volume of 9,970 lots. Analysts said raising of bets by participants, taking positive cues from global market as weakness in dollar raised demand for the precious metal as a safe-haven, mainly pushed up the gold prices at futures trade here. Globally, gold rose 0.66 per cent to trade at USD 1,304.89 an ounce in Singapore.
Metal and mining stocks decline
Key indices hovered in positive zone in early afternoon trade. At 12:18 IST, the barometer index, the S&P BSE Sensex, was up 99.66 points or 0.27% at 37,635.32. The Nifty 50 index was up 14.40 points or 0.13% at 11,315.60. Metal and mining stocks declined.
PV retail sales fall 8 pc in February: FADA
Automobile dealers' body FADA Wednesday said retail sales of passenger vehicles (PV) in February declined by 8.25 per cent to 2,15,276 units as compared to the same period last year, hit by lower offtake by end customers. According to Federation of Automobile Dealers Associations (FADA), PV sales stood at 2,34,632 units in February 2018. Two-wheeler sales declined by 7.97 per cent to 11,25,405 units last month as compared with 12,22,883 units in year-ago period. "After a month of spike in PV sales in January which was largely due to year-end stock clearance getting extended and few new launches which generated some excitement, the industry is once again witnessing downward trend as February turned out to be one of the slowest month for auto retail during this financial year," FADA President Ashish Harsharaj Kale said in a statement. Domestic auto sales are experiencing a prolonged slowdown as it is already been six months of downturn with no positive triggers visible in near term, he .
IVP Ltd leads gainers in 'B' group
Indo Count Industries Ltd, Sambhaav Media Ltd, Motor & General Finance Ltd and Cupid Ltd are among the other gainers in the BSE's 'B' group today, 13 March 2019.
Ashiana Housing adjudged as top developers in north India
Ashiana Housing Ltd. (AHL), a 40-year-old Indian real estate company has been adjudged as one of the top realty brands in North India, and specifically managed to top the list in care andamp; consumer connect category. It is one of the top brands recognized nationally as well along with Godrej, Embassy, Piramal, DLF according to Track2Realty best practices report 2019.Ashiana Housing being voted for the second position in North Indian best practices leadership chart after Godrej is a predominant success as it is a relatively silent player in the region. The list is then followed by DLF Limited, Sobha Limited, ATS Group, Gulshan Homz, Mahindra Lifespaces, Mahagun, Central Park and ABA Corp.The criteria basis which Ashiana Housing Ltd. has ranked the second position with a score of 79.3 out of 100 comprises of fiscal management, execution, market depth, consumer connect, transparent deals, functional professionalism, care, employer, communication, and desirable practices. "Ashiana ...
Just Dial Ltd leads gainers in 'A' group
Manpasand Beverages Ltd, Coffee Day Enterprises Ltd, Container Corporation Of India Ltd and Bombay Dyeing & Manufacturing Company Ltd are among the other gainers in the BSE's 'A' group today, 13 March 2019.
Axis Bank rises after naming Rakesh Makhija as non-executive chairman
Axis Bank rose 0.23% to Rs 743.95 at 11:22 IST on BSE after the bank appointed Rakesh Makhija as the non-executive (part-time) chairman of the bank for three years.
Indices regain strength
Stocks regained strength in mid-morning trade. At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 129.21 points or 0.34% at 37,664.87. The Nifty 50 index was up 20.25 points or 0.18% at 11,321.45.
GST officials detect tax fraud of Rs 224 cr by 8 companies
Officials of the Central GST have unearthed an alleged tax fraud of Rs 224 crore and detected fake invoices worth Rs 1,289 crore by a group of eight companies involved in the trade of iron and steel products. A key suspect involved in the racket has been arrested and Rs 19.75 crore was recovered from him, a press release from the Hyderabad Central GST Commissionerate said Tuesday night. Several documents were recovered during the simultaneous searches conducted at the residential and business premises of these companies on Tuesday night. The companies have been generating fake invoices without actual supply of TMT bars, MS bars, MS flat products among others, and were passing on the input tax credit to other tax payers within the same group, besides some other taxpayers since July, 2017, it said. The fake invoices generated by them involved about Rs 1,289 crore of value and input tax credit of about Rs 224 crore. "Five out of these taxpayers are operating from the same address and ...
Spicejet tanks 8 pc after India bans Boeing 737 Max 8 planes
Shares of SpiceJet slumped 8 per cent in morning trade on BSE Wednesday, after the country banned Boeing 737 Max 8 planes following the Ethiopian Airlines crash. On Tuesday night, the Directorate General of Civil Aviation (DGCA) announced its decision to "immediately" ground the Boeing 737 Max 8 aircraft. The decision came days after a 737 MAX 8 aircraft operated by the Ethiopian Airlines crashed near Addis Ababa killing 157 people, including four Indians. Following the announcement, shares of SpiceJet opened on a weak note at Rs 74, then fell further to touch an intra-day low of Rs 72.50, down 7.99 per cent over its previous close of Rs 78.80. Shares of Jet Airways also witnessed similar trend. The stock opened at Rs 241.70, then lost further ground and fell to a low of Rs 236.70, down 3.64 per cent over its last closing price of Rs 245.65 on BSE. SpiceJet has around 12 such aircraft in its fleet. Jet Airways has five, which have been already grounded. In a statement Wednesday, ...
Volumes jump at City Union Bank Ltd counter
City Union Bank Ltd saw volume of 5.9 lakh shares by 10:49 IST on BSE, a 40.41 fold spurt over two-week average daily volume of 14606 shares
Seizure of Fake Casio Watches in Kolkata
/ -- Kolkata police raided shops in Radha Bazaar Lane on Saturday evening (9.3.2019), and seized large quantities of fake watches bearing the trademarks of CASIO. Umesh Kumar Gupta, Legal Head of Casio India said, "Casio has been contemplating the raid action in Radha Bazaar since a long time. We would like to thank Kolkata police for their swift action. The Company will continue to take appropriate action to protect its brand image and safeguard the intellectual property associated with CASIO products. Interest of customers is paramount and the Company will also continue to educate customers about the genuine Casio products and authorized channels." The brand is continuously advising consumers to purchase Casio products only from authorized retail partners, modern retail outlets and official online channel partners. Consumers can visit https://locator.casio.com/en-IN/store/wat/map/ and https://www.casio-intl.com/in/en/news/2015/BewareofFakeCasioCalculatorswhenpurchasingonline/ or ...
Market breadth turns negative
Key benchmark indices trimmed gains in morning trade after an initial upmove. At 10:20 IST, the barometer index, the S&P BSE Sensex, was up 56.82 points or 0.15% at 37,592.48. The Nifty 50 index was up 3.75 points or 0.03% at 11,304.95.
Market drifts higher in early trade
A bout of volatility was seen in early trade as the key indices regained positive zone soon after erasing early gains. At 9:28 IST, the barometer index, the S&P BSE Sensex, was up 51.97 points or 0.14% at 37,587.63. The Nifty 50 index was up 10.70 points or 0.09% at 11,311.90.