Page 732 - Business Finance
Market drifts higher in early trade
Local stocks nudged higher in early trade on positive Asian stocks. At 9:17 IST, the barometer index, the S&P BSE Sensex, was up 273.66 points or 0.74% at 37,327.76. The Nifty 50 index was up 84.60 points or 0.76% at 11,252.65.
Govt defers bid deadline for OALP-II by a month to April 10
The government has deferred by one month the last date for bidding for the 14 oil and gas exploration blocks offered in the second round of Open Acreage Licensing Policy (OALP). Bids for the 14 blocks offered in OALP-II bid round, covering an area of 29,333 square kilometres, were to close Tuesday. "Bid submission closing date for OALP Bid Round-II stands extended up to April 10, 2019," the Directorate General of Hydrocarbon (DGH) said in a brief notice. It did not give reasons for extending the deadline. The last date of bidding coincides with the bid deadline for the 23 oil and gas and coal-bed methane (CBM) blocks offered in the third round of OALP, which was launched on February 10. OALP-II bid round was delayed at six months and its launch came barely a month before the third round. Officials said OALP-II and OALP-III will run concurrently. Oil Minister Dharmendra Pradhan had at the time of launch of OALP-II bid round on January 7 stated that an investment of about Rs 40,000 ...
Market extends gains
Strong buying demand in index pivotals propelled the key indices to fresh intraday high in mid-morning trade. At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 423.08 points or 1.14% at 37,477.18. The Nifty 50 index was up 125.50 points or 1.12% at 11,293.55. Telecom stocks saw mixed trend.
Board of Mahindra CIE Automotive approves acquisition of Aurangabad Electricals
At meeting held on 12 March 2019
Internet of Things India Congress 2019 to be held on Aug 22-23
IoT India Congress, an event which will see digital technology leaders converge to discuss and explore business opportunities in mainstreaming Internet of Things (IoT), will be held in Bengaluru on August 22-23, 2019. The IoT India Congress 2019 will include tracks on segments such as healthcare, manufacturing, telecom, smart cities, energy, retail, cyber security, skills and development, IoT Standards, legal and regulatory, and agriculture. The Institution of Engineering and Technology (IET) IoT Panel Tuesday held a conference to announce the upcoming 4th edition of the IoT India Congress. Speaking on the occasion, N Sivasailam, special secretary logistics, the Ministry of Commerce and Industry, said that IoT road map should be focused on being cost effective and mass market. He also emphasised that skilling will play a major role in the development of the overall IoT ecosystem. In addition to sessions and key notes, the two-day Congress will host live zones and hackathons where ...
Capacit'e Infraprojects bags Rs 484 crore project for hospital redevelopment
Construction major Capacit'e Infraprojects Limited has received a contract worth of Rs 484 crore for the redevelopment of Harilal Bhagwati Municipal General Hospital here."We remain more confident of delivering this project within the stipulated timelines and to client satisfaction," said company's Managing Director Rahul Katyal."At Capacit'e, it is our continuous endeavour to add quality orders from existing and new clients, and we are confident on the growing execution capabilities of the company," he informed stock exchanges in regulatory filings.Capacit'e Infraprojects is a leading building construction company having a presence in Mumbai Metropolitan Region, National Capital Region, Bengaluru, Hyderabad, Chennai, Kochi and Pune. It has specialisation in the construction of super high-rise buildings.
Modernise, implement global standards to meet rising air cargo demand: IATA
The International Air Transport Association (IATA) on Tuesday called on governments and air cargo industry to accelerate the speed of modernisation and implement global standards to accommodate the expanding demand for air cargo.The call came during the opening address by Alexandre de Juniac, IATA's Director General and CEO, at the 13th World Cargo Symposium.The operating environment for air cargo is increasingly challenging, he said. Demand for air cargo grew by 3.5 per cent in 2018, a significant deceleration from 2017 which saw extraordinary growth of 9.7 per cent.Weakening global trade, sagging consumer confidence and geopolitical headwinds contributed to a general slowdown in demand growth commencing in mid-2018. And January 2019 saw a year-on-year contraction of 1.8 per cent.de Juniac called for the modernisation of industry processes. "This will be critical to efficiently meet the doubling of demand expected over the next two decades. And it is already being called for by ...
Kanani Industries Ltd leads gainers in 'B' group
Indowind Energy Ltd, Orbit Exports Ltd, Manaksia Steels Ltd and Lambodhara Textiles Ltd are among the other gainers in the BSE's 'B' group today, 12 March 2019.
Markets in cheerful mood after heavy buying by foreign investors
Heavy buying by foreign investors and positive global cues lifted the Sensex by 442 points to 37,496 in early trading on Tuesday while the Nifty was up 129 points at 11,297.Metal, oil and gas, banking and energy stocks led the gains amid cheerful mood in markets that was largely driven by sustained foreign fund inflows.Larsen & Toubro shares jumped by nearly 4 per cent to trade at Rs 1,394.55 on Bombay Stock Exchange.ICICI Bank shares gained by more than 3 per cent to Rs 390.75 while HDFC Life Insurance shares were up by 4.5 per cent to Rs 372.60.Jet Airways gained more than 2 per cent to Rs 253.15.Meanwhile, Asian shares rose after the European Commission agreed to changes in the Brexit deal ahead of a vote in British Parliament.On Monday, European Commission head Jean-Claude Juncker agreed to additional assurances in an updated Brexit deal with British Prime Minister Theresa May.
Banks in no hurry to link repo with interest rates
Public sector banks are in no hurry to follow big brother SBI in linking their deposit and lending rates to the RBI's repo rate, which may further irk the Reserve Bank of India for not transmitting the lower interest rates to the customers.
Manpasand Beverages Ltd leads gainers in 'A' group
Bombay Dyeing & Manufacturing Company Ltd, Indiabulls Real Estate Ltd, Adani Green Energy Ltd and Gujarat Mineral Development Corporation Ltd are among the other gainers in the BSE's 'A' group today, 12 March 2019.
Volvo Cars to launch plug-in hybrid in second half of 2019
Swedish luxury car maker Volvo Cars India would introduce 'Make in India' battery operated plug-in hybrid during the second half of this year, a top official has said. The company besides introducing the hybrid would also look at tapping rural markets in the country under its plan to expand footprint, Volvo India, Managing Director, Charles Frump said. Soon after the government had lowered customs duty on import of parts and components of electric vehicles to 10 from 15 per cent in January, the company discussed its plan to bring in battery-operated electric vehicles to India, he said. "I think we are going to be the first automotive company in India to have a Make in India, plug-in hybrid. That will be coming on XC90 in our Bangalore facility, in the second half of the year. So this is quite an exciting announcement to make. We already have a CBU plug-in hybrid and I think to make that as a local assembly is exciting for us", he told PTI. To a query about the ...
Andrew Yule defers plan to set up bought leaf factories
Diversified PSU Andrew Yule and Company has deferred its plan to set up its bought leaf factories in Assam and West Bengal, a source close to the development said. "For the time being, we have postponed the decision to set up two bought leaf factories, one each in West Bengal and Assam. There is a lot of re-planning being done at the moment", the source told PTI. The PSU had been buying bought leaf from others as there was no surplus production capacity due to intense uprooting and rejuvenation, the source said. The first factory was supposed to come up at Sibsagar district in Assam at Sibsagar followed by the other in north Bengal with a production capacity of one million kilograms per annum in each of them. Earlier, the decision to set up bought leaf factories was based as it was one method to straightaway boost two million kilograms production per year which would add both to the topline and the bottomline. "Since company is owned by the government, there are many ...
CK Birla Group completes merger with IT services division of KPIT
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HDFC Life Insurance slips as OFS begins
HDFC Life Insurance Company was down 3.76% to Rs 375.15 at 11:22 IST on BSE after the company said one of its promoters, Standard Life, will sell up to 4.92% stake in the life insurance firm through offer for sale.
Sensex up over 400 points, Nifty crosses 11,250
The domestic equity indices surged over 1 per cent on Tuesday, with the BSE Sensex gaining over 400 points after the European Commission and the UK agreed to "legally binding" changes in the Brexit deal ahead of the vote in the British parliament.
Volumes soar at The Ramco Cements Ltd counter
The Ramco Cements Ltd clocked volume of 2.04 lakh shares by 10:48 IST on BSE, a 8.67 times surge over two-week average daily volume of 23460 shares
Modispaces Analyses the Current Real Estate Trends in India
/ -- The real estate industry in India is going through the worst phase in history. In a country where buying a home of one's choice is among the most significant decisions in an individual's life, this is a seemingly paradoxical development. The real estate market in recent years had the lowest number of new launches due to demonetization, the implementation of the Goods and Service Tax (GST), and the newly appointed Real Estate Regulatory Authority (RERA). However, is low inventory a bad thing? Modispaces says otherwise. Surprisingly, while stocks plummeted, home sales have gone up since last year. Therefore, if the same number of people choose to list their home this year in contrast with the previous year, the currently available inventory should drop due to more people buying what is available on the market. The currency ban was a blessing in disguise, encouraging formal banking and more substantial deposits, resulting in a higher cash reserve with banks, which flowed into the ..
Google paid $105 mn to 2 executives accused of sexual harassment
Google paid $105 million to two of its former executives, including one of Indian-origin, after they were accused of sexual harassment.
Stocks surge at Wall Street
All 11 S&P 500 sectors finished higher with gains