Page 73 - Business Finance
Gold futures jump Rs 188 to Rs 32,820 on global cues
Gold prices rose by Rs 188 to Rs 32,820 per 10 gram in futures trade Wednesday as participants created fresh positions, tracking a firm trend overseas. On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 188, or 0.58 per cent, at Rs 32,820 per 10 gram in a business turnover of 16,277 lots. Similarly, the precious metal for October delivery moved up 0.44 per cent to Rs 32,946 per 10 gram in a business turnover of 2,017 lots. Marketmen said investors are putting money in gold over growing worries about global economic growth with trade tensions between the US and China showing no signs of easing. Globally, the yellow metal was trading higher by 0.64 per cent at USD 1,334.91 an ounce in Singapore.
Policybazaar study: Millennials prefer buying Rs 5 lac+ health cover
A recent survey conducted by Policybazaar.com indicates that millennials between the age-group of 22-35 years have a better assessment of their protection needs when it comes to buying health covers which shields them adequately.The survey reveals an increasing number of millennials i.e. about 6 out of 10 are opting for health plans with higher sum insured in upwards of Rs 5 lakh up to 1 crore. The survey took into account the buying behaviour of 10,000 plus millennials purchasing health insurance policies across 15 states in India.The study suggests the proportion of policies bought by millennials with the sum insured of 10L and beyond has more than doubled in the past 5 years, surging from 8.4 per cent to 17.8 per cent. Meanwhile, the Rs 5 lakh health cover has today become the new Rs 3 lakh mark for millennials, as nearly a whopping 41 per cent of them are going for this sum insured.The survey also indicates that proportion of health covers purchased by millennials with sum insured
Infosys selected by Posti as key digital transformation technology partner
IT major Infosys said on Wednesday it has been selected by Finnish postal service Posti as a strategic partner for the digital transformation of its business and IT services.Through this engagement, Infosys will drive the modernisation of Posti's IT applications and infrastructure, helping it move to a flexible IT service model. This will strengthen Posti's ability to respond to changes in customer needs with agility and provide a seamless customer user experience through a dedicated command centre.Infosys will optimise and modernise Posti's current IT estate, which entails rationalising its applications and hosting the workloads on a public cloud foundation. This will help Posti reduce costs, enhance efficiencies, and lay the foundation for the organisation's larger technology-led business transformation along with an end-to-end security operations network.At the same time, Infosys will help Posti drive technology-led initiatives using the latest digital technologies, including data .
Alembic Pharma to raise up to Rs 300 cr via NCDs
Drug firm Alembic Pharmaceuticals Wednesday said its board has approved raising of up to Rs 300 crore through issuance of non-convertible debentures (NCDs) on a private placement basis. The company, which did not specify the reasons for rasing funds, said it will issue NCDs in one or more tranches. "The board of directors of Alembic Pharmaceuticals Ltd....has approved the issue of unsecured listed rated redeemable non-convertible debentures (NCDs) of up to Rs 300 crore on a private placement basis," the company said in a regulatory filing. Shares of Alembic Pharmaceuticals were trading 0.03 per cent higher at Rs 502.20 apiece on the BSE.
Soybean prices rise on upbeat demand
Soybean prices rose by Rs 34 to Rs 3,644 per quintal in futures trade Wednesday on firm demand at the spot market. On the National Commodity and Derivatives Exchange, soybean contracts for June traded higher by Rs 34, or 0.94 per cent, at Rs 3,644 per quintal in 2,380 lots. Soybean contracts for August delivery also rose by Rs 9, or 0.25 per cent, to Rs 3,668 per quintal in 18,600 lots. Marketmen said fresh positions created by participants, following a surge in domestic as well as export demand, pushed up soybean prices in futures trade here.
Guar seed futures rise by Rs 20.5 per 10 quintal
Guar seed prices rose by Rs 20.5 to Rs 4,173.5 per 10 quintal in futures trade Wednesday as traders widened their bets. Marketmen said raising of bets by speculators, tracking a firm trend at the spot market on thin supplies from growing belts amid sturdy demand, led to the rise in prices. On the National Commodity and Derivatives Exchange, guar seed contracts for June rose by Rs 20.5, or 0.49 per cent, to Rs 4,173.5 per 10 quintal with an open interest of 3,920 lots. Similarly, guar seed contracts for July hardened by Rs 25, or 0.59 per cent, to Rs 4,235 per 10 quintal with an open interest of 1,19,650 lots.
Industry Expecting Bold Reform Measures To Overcome The Existing Challenges & To Push Economy To Higher Growth Trajectory: FICCI President
FICCI from its side has submitted a robust agenda for growth to the government comprising measures to address the challenges and improve the business environment. The six key points of the agenda are passage of the pending Bills, announcement of policies (including E-commerce, Industry, Retail and E-pharmacy), simplification of GST, lowering of interest rates, addressing farm distress and creation of an eco-system that promotes employment.
Bold reform measures required for higher growth trajectory: FICCI
Bold reform measures are required to overcome existing challenges and push the economy to a higher growth trajectory, the Federation of Indian Chambers of Commerce and Industry (FICCI) said on Wednesday.Six key points of the agenda are the passage of the pending bills in Parliament, announcement of policies (including e-commerce, industry, retail, and e-pharmacy), simplification of Goods and Services Tax (GST), lowering of interest rates, addressing farm distress and creation of an eco-system that promotes employment."The Central government's focus in the Budget has to be on spurring investment," said FICCI president Sandip Somany. "The cost of doing business is very high. While there is a need for reducing the interest rate by at least 100 to 150 basis points, the corporate tax rate too must be cut for all the companies to 25 per cent from the current 30 per cent."There is also a need to review the minimum alternate tax (MAT) structure which is too high, he said. Further ...
Axis Aha! surges with over 10 million Conversational Engagement
/ -- Axis Bank in partnership with Active.Ai, launched Axis Aha! in early 2018, has seen a surge in usage of its conversational AI platform on their mobile banking app which has over 10 million customers. "We are seeing good uptake, as we keep adding new use cases to Axis Aha!. When we launched the chatbot, we were very clear that we would use it beyond just query handling. Customers are not interested in plain responses, they actually want it to be actioned. We researched and found that fund transfers, blocking cards and paying bills though seemingly easy were high-anxiety tasks for many customers and hence, useful cases to add to a chatbot. Consequently, we are now finding a measured but solid month-on-month growth in its adoption and usage," said Praveen Bhatt, EVP & Head Retail Liability and Direct Banking Products. As Indian consumers are doing lot more on their mobile phones, the need for easy interactive human-like conversations to make their life simpler has surged. Simple
Asian markets retreat after gains, protests batter
Asian markets fell Wednesday after two days of healthy gains with Hong Kong the worst performer, sinking two percent as a huge protest paralysed key roads in the city and a number of local businesses shut up shop. Profit takers moved in while investors keep a nervous eye on developments in the China-US trade saga and an expected meeting between Donald Trump and Xi Jinping at the G20 summit in Japan this month. The US president repeated on Tuesday that he expects to hold a face-to-face meeting with his Chinese counterpart on Osaka and said Beijing wanted a deal "very badly". US Commerce Secretary Wilbur Ross tempered expectations the leaders would reach an agreement by saying the meeting could lead to progress but not a "definitive agreement". However, he said he was confident an agreement would be reached eventually. The comments out of Washington were keeping traders on edge, though a broad narrative of central bank easing -- with the Federal Reserve tipped to begin cutting interest .
Tata Steel Ltd gains for third straight session
Tata Steel Ltd is quoting at Rs 503.35, up 2.2% on the day as on 12:54 IST on the NSE. The stock is down 11.32% in last one year as compared to a 9.53% jump in NIFTY and a 17.97% jump in the Nifty Metal index.
India-LAC trade up 20-fold yet since 2002; huge potential untapped: MEA official
He further added that many leads have emerged from the recent interactions India had with the region including 'Lithium Triangle' of Bolivia, Argentina and Chile. The 'Lithium Triangle, he said is welcoming Indian companies to join in the value chain and Bolivia inviting Indian pharmaceutical companies to set up cancer drug manufacturing plant.
Australia Stocks end mixed
Investors' sentiments were downbeat amid concerns over the global economic outlook amid ongoing trade issues. China's foreign ministry on Tuesday said it would respond firmly if the U.S. insisted on escalating trade tensions, after U.S. President Donald Trump on Monday said further tariffs on Chinese imports would take effect if the two countries don't reach a deal at a meeting of Group of 20 leaders later this month.
NIIT Technologies Ltd soars 0.44%, gains for fifth straight session
NIIT Technologies Ltd is quoting at Rs 1346.55, up 0.44% on the day as on 12:49 IST on the NSE. The stock is up 20.12% in last one year as compared to a 9.58% jump in NIFTY and a 16.27% jump in the Nifty IT.
Welspun Enterprises receives early-completion bonus for Delhi-Meerut Expressway project
The Delhi-Meerut Expressway Package-1 was the first Hybrid Annuity Model (HAM) project of NHAI to achieve both Financial Closure as well as Commercial Operation Date (COD). The first annuity for the project was received in January 2019 and the next annuity is expected by July 2019.
Bajaj Finserv prescribes hassle-free finance for doctors
As a doctor, your responsibilities are many and your working hours can be erratic, especially if you run your own practice. As you do not have the fixed working hours of someone with a 9-5 desk job, you may not be able to give enough thought or time to your financial health.So, while you dedicate your time to helping patients, Bajaj Finserv crafts innovative financing solutions is just for you. Take a look at the suite of financial services that Bajaj Finserv has designed specially to cater to your unique needs as a practising medical professional.A suite of customised loans for all your financing needsWhile there are plenty of offerings in the market, it's best to pick one that has been created keeping your unique needs in mind. Considering how you require finance quickly, with minimal eligibility requirements and short turnaround time, Bajaj Finserv offers you a suite of loans to choose from like a personal loan for doctors, business loan for doctors, a home loan for doctors and ...
Japan Nikkei falls on profit taking
Total 23 subsectors out of 33 subsectors of the Topix's were in negative territory, with Other Products, Real Estate, Oil & Coal Products, Securities & Commodities Futures, and Mining issues being notable losers, while Pulp & Paper, Retail Trade, and Iron & Steel issues were notable gainers.
Simplex Infra cracks as rating agency revises outlook
Simplex Infrastructures was down 4.14% to Rs 129.70 at 12:09 IST on BSE after a credit rating agency revised the outlook while retaining the credit rating of the company.
Toothpaste firm up for auction on Chinese shopping portal
A toothpaste company has been put up for auction on e-commerce giant Alibaba's Taobao, an immensely popular shopping portal in China which sells everything from mundane household items to jumbo jets. Tianqi toothpaste, a household name in China, and its manufacturer Guangxi Aoqili were listed for auction on Tuesday at a starting price of 163.24 million yuan (USD 23.6 million). The package on offer included 57 trademarks related to Tianqi, industrial real estate and production equipment, according to the auction notice, which did not explain why the company was being sold or why Taobao was chosen for the transaction. The company went unsold in the first round, after only two buyers signed up. The auction terms require the successful bidder to resume production of Tianqi a month after the sale. Tianqi was most popular in the early 2000s, but has since faded away with competitors chomping away at its market share. The auction notice on Wednesday did not say if the sale would be ...
Silver futures up 0.51 pc on global cues
Silver futures traded 0.51 per cent higher at Rs 36,924 per kg on Wednesday as speculators raised bets, driven by a firm trend overseas. Silver contracts for July delivery rose by Rs 189, or 0.51 per cent, to Rs 36,924 per kg in a business turnover of 22,612 lots on the Multi Commodity Exchange. Silver contracts for September delivery also shot up by Rs 155, or 0.42 per cent, to Rs 37,330 per kg in 6,168 lots. Analysts said widening of positions by traders, in sync with a firm trend overseas for precious metals, mainly influenced silver prices here. In the international market, silver traded 0.58 per cent higher at USD 14.83 an ounce in New York.