Page 730 - Business Finance
Guar seed futures fall by Rs 24.5 per quintal
Guar seed prices shed Rs 24.5 to trade at Rs 4,238 per quintal in futures trade Tuesday as investors cut down holdings due to weak trend at the physical markets. Marketmen attributed the fall in guar seed futures to soaring stocks on relentless supplies from producing areas, amid withdrawal of support by guar gum makers in the spot markets. At the National Commodity and Derivatives Exchange, guar seed for March-delivery contracts was trading lower by Rs 24.5, or 0.57 per cent, at Rs 4,238 per quintal with an open interest of 470 lots. Contracts for April delivery also fell by Rs 21.5, or 0.5 per cent, to Rs 4,302 per quintal with an open interest of 1,10,020 lots.
'Connexus' launches one-of-a-kind entrepreneurial platform
Connexus, a community that enables entrepreneurs and corporates to build strategic business connections and collaborations, officially launched a unique platform that brings together business owners, corporates and industry experts.Connexus empowers budding as well as established entrepreneurs through networking, training and consulting. The first conclave of this one-of-a-kind entrepreneurial platform saw some great names conversing passionately and sharing anecdotes on 'Employee to Entrepreneur: A Journey of Success'.The chapter welcomed these entrepreneurs and thought leaders from various industries. The panel of four dynamic women entrepreneurs included the likes of Anisha Motwani, Managing partner at STORM the NORM Ventures, Dr Shalini Lal, Founder of Infinity OD, Nandini Gulati, Corporate Wellness Coach & Consultant and Meena Vaidyanathan, Founder Niiti Consulting with Vani Gupta Dandia, Co-founder and CEO of Benddit as the moderator. "Connexus is not just about making ...
Gold prices fall by Rs 100 on low jewellers' demand
Gold prices on Tuesday fell Rs 100 to Rs 33,150 per 10 grams at the bullion market here on account of subdued demand from local jewellers and diversion of funds to rising equity market despite positive trend overseas, according to the All India Sarafa Association. Silver, however, gained Rs 50 to Rs 39,580 per kg on increased uptake by industrial units and coin makers. Traders said low demand from domestic jewellers and investors' increased focus on equities pulled down the prices of the yellow metal. The Sensex had on Monday jumped 383 points to close at a near six-month high of 37,052. On Tuesday also, it was trading 503.36 points higher during the day. They, however, said silver rose on account of a rise in demand from factories. Globally, gold prices were trading up at USD 1,296.80 per ounce, while silver was up at USD 15.49 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purities slumped Rs 100 each to Rs 33,150 and Rs 32,980 per 10 grams, ..
Government Announces Sale Of Five Dated Securities For Rs18000 Crore
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SpiceJet Ltd leads losers in 'A' group
Lemon Tree Hotels Ltd, Navkar Corporation Ltd, HDFC Life Insurance Company Ltd and Linde India Ltd are among the other losers in the BSE's 'A' group today, 12 March 2019.
US-China trade tensions to hammer air cargo: industry body
Trade tensions between the US and China will hammer air cargo this year, an industry body warned Tuesday, the latest sign the tariff slugfest is damaging the global outlook. The world's top two economies have been locked in a trade war since last year, swapping tit-for-tat duties on hundreds of billions of dollars worth of goods and sending markets into a tailspin. The fallout has gone far beyond their shores, with manufacturing in many export-dependent Asian economies taking a hit. In the latest sign of the dispute's effects, the International Air Transport Association (IATA) sharply cut its forecast for air cargo growth this year, citing US-China tensions as a major factor. It said air cargo volumes are expected to grow 2.0 per cent this year, nearly halving its projection made in December for 3.7 per cent. Air freight traffic contracted 1.8 per cent in January alone, IATA director general and chief executive Alexandre de Juniac told a conference in Singapore. "We are facing a ...
KEC International spurts after winning orders
KEC International rose 5.68% to Rs 288.20 at 14:53 IST on BSE after the company said it has secured new orders worth Rs 1,323 crore across its various businesses.
Metal and mining stocks gain
Firmness prevailed on the bourses in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 436.56 points or 1.18% at 37,490.66. The Nifty 50 index was up 125.90 points or 1.13% at 11,293.95. Metal and mining stocks gained.
DQ Entertainment International Ltd leads losers in 'B' group
Salona Cotspin Ltd, Shyam Century Ferrous Ltd, MRO-TEK Realty Ltd and Almondz Global Securities Ltd are among the other losers in the BSE's 'B' group today, 12 March 2019.
Volumes spurt at Indian Energy Exchange Ltd counter
Indian Energy Exchange Ltd notched up volume of 13.26 lakh shares by 14:14 IST on NSE, a 13.34 fold spurt over two-week average daily volume of 99349 shares
Bharti Airtel to cut stake in Bharti Infratel
Telecom major Bharti Airtel will slash its stake in Bharti Infratel to 18.3 per cent by selling around 32 per cent stake to Nettle Infrastructure Investments, a regulatory filing by Infratel said on Tuesday.
KEC International wins new orders worth Rs 1,323 crore
Global infrastructure major KEC International has secured new orders of Rs 1,323 crore across various businesses.The flagship company of Rs 23,000 crore RPG Group said its power transmission and distribution business secured turnkey orders of Rs 287 crore across India, United Arab Emirates and the Americas.The works include extension of a 765 kV GIS substation order from Power Grid Corporation, a 132 kV GIS substation order in UAE and various orders by SAE Towers in the Americas.KEC's railway business secured orders for composite and overhead electrification works totalling Rs 644 crore in India. The civil business secured fresh and change orders for civil and construction works aggregating to Rs 91 crore from leading automobile companies.The smart infra business secured two orders worth Rs 233 crore and cable business got orders of Rs 68 crore for various cabling works."We are particularly enthused by the orders secured by our smart infra business in the core smart city segment. ...
China, US discuss key issues of trade agreement
China and the United States discussed key issues related to the trade agreement between the nations over a phone call on Tuesday, according to the Chinese Commerce Ministry."Chinese State Council Vice Premier Liu He held a phone conversation with US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer, the parties have discussed in detail the key issues (relating) to the text (of the trade agreement) and defined the agenda for the further work," Sputnik quoted a statement issued by the ministry as saying.The last round of talks between the two sides has raised hopes for a trade agreement which would put an end to the trade dispute Washington and Beijing have been involved in since last year.US President Donald Trump delayed the increase of tariffs on Chinese imports in February following consultations with the Chinese side in Washington DC, outlining that "substantial progress" had been made in trade talks on "important structural issues".He had also announced .
Realty stocks gain
Stocks trimmed gains in early afternoon trade after an intraday rally. At 12:28 IST, the barometer index, the S&P BSE Sensex, was up 370.65 points or 1% at 37,424.75. The Nifty 50 index was up 106.05 points or 0.95% at 11,274.10. Capital goods stocks edged lower. Realty stocks gained.
Deep Industries jumps after receiving ONGC contract
Deep Industries rose 5.45% to Rs 130.50 at 14:16 IST on BSE after the company said it has received letter of award of contract from ONGC.
Kalyan Jewellers aims 25 pc revenue growth from jewellery advance purchase schemes
After the government banned unregulated deposit schemes offered by jewellers, Kalyan Jewellers India Ltd (KJIL) expects 25 per cent revenue growth from its ongoing regulated jewellery purchase advance schemes, its top official said Tuesday. On February 21, the government passed the Banning of Unregulated Deposit Schemes Ordinance, prohibiting all deposit schemes (with or without interest) except those with regulatory approval. "Kalyan Jewellers is eyeing significant growth in its base of jewellery purchase advance scheme. ...We believe that there is a potential to grow our revenues from our jewellery advance schemes by 25 per cent," the company's Executive Director Rajesh Kalyanaraman said in a statement. He said that the company expects positive impact from the recent ordinance on its jewellery purchase advance schemes. "The recent ordinance is consistent to the continued efforts to formalise the jewellery sector. The gap that existed in the governance of the jewellery advance ...
JSW Steel reports 6% drop in Feb crude steel production
Production of flat rolled products rose 1% to 9.20 lakh tonnes while production of long rolled products declined 10% to 3.08 lakh tonnes in February 2019 over February 2018.
PVR Ltd jumps around 3%
PVR Ltd is quoting at Rs 1590.4, up 3.1% on the day as on 12:49 IST on the NSE. The stock is up 20.25% in last one year as compared to a 8.15% jump in NIFTY and a 23.51% jump in the Nifty Media index.
Volkswagen vows to build 22 million e-cars over next decade
German automaker Volkswagen is saying it plans to ramp up its production of electric vehicles over the next ten years to 22 million and reduce its carbon footprint over vehicle life cycles by 30 percent. Previously the company said it would aim for 15 million. That's ambitious considering it made fewer than 50,000 battery-only vehicles last year. The company is pivoting to electric vehicles as it seeks to comply with new limits on carbon dioxide emissions in Europe, and a push by China for more low-emission vehicles. The company also disclosed Tuesday that operating profit at its core Volkswagen brand, one of 12, fell to 3.2 billion euros ($3.6 billion) from 3.3 billion last year as the company faced bottlenecks certifying vehicles under new emissions tests.
JMC Projects secures new orders worth Rs 547 crore
JMC Projects (India) Tuesday said it has won contracts worth Rs 547 crore for water pipeline, residential and commercial projects. The company, a subsidiary of Kalpataru Power Transmission Ltd, is into civil engineering, and engineering, procurement and construction works. "JMC...has secured new orders of Rs 547 crore," it said in a statement. The orders include a water pipeline project of Rs 315 crore and residential and commercial projects worth Rs 232 crore, the company said. "These new orders along with earlier orders announced during the year, reaffirm our commitment to deliver sustainable and profitable growth going ahead. We remain confident to deliver on our guidance for financial year 2018-19," JMC Projects CEO and Deputy Managing Director S K Tripathi said.