Page 739 - Business Finance
Strong market breadth
The Sensex held firm in morning trade after a gap-up opening. At 10:21 IST, the barometer index, the S&P BSE Sensex, was up 282.91 points or 0.77% at 36,954.34.
Gold futures slip 0.05% on global cues
Amid weak cues from overseas markets, gold prices moved down by 0.05 per cent to Rs 32,150 per 10 grams in futures trade on Monday after participants trimmed their positions. At the Multi Commodity Exchange, gold for delivery in April fell by Rs 17, or 0.05 per cent, to Rs 32,150 per ten grams in business turnover of 615 lots. Analysts said off-loading of positions by traders, tracking a weak trend overseas as the dollar strengthened, influenced gold prices in futures trade. Meanwhile, gold prices fell 0.09 per cent to USD 1,297.50 an ounce in New York Monday.
Writer Relocations Launches its New Website
/ -- Writer Relocations is pleased to announce the launch of its new website http://www.writerrelocations.com. (Logo: https://mma.prnewswire.com/media/824353/Writer_Relocations_Logo.jpg) This redesigned site offers quick and easy access to essential information and features, while offering a more comprehensive understanding of the company's value proposition and the overall client benefits. The website also offers updated information on the mobility industry with insights and resources to enhance the assignee's global/local movement. The new website has a clean and uncluttered design, improved functionality and rich content. With a fresh look and feel, the new site displays the latest services of the company, provides users with the opportunity to navigate through Writer Relocations' extensive offerings with ease, thereby giving a smoother and more intuitive user experience. "We are very enthusiastic about the launch of the new website. The look and feel are great, and the site is ...
Sensex up 250 points, oil, gas stocks surge
Amid mixed global cues Sensex surged close to 250 points as key equity indices opened in green on Monday, owing to gains in the banking and finance stocks.
Dewan Housing Finance Corporation gets downgrade in ratings from Brickwork Ratings
Secured NCD (Public Issue) (Rs 29000 crore) - BWR AA; Credit Watch with Negative Implications (Downgraded)
Sensex soars 233 points in early trade
Equity benchmark Sensex surged over 233 points 36,904 in early trade on Monday, which is seen by experts as a pre-poll rally following the announcement of 2019 general election dates. Similarly, the NSE gauge Nifty rose over 75 points to scale past 11,110 level. The BSE Sensex started off on positive note at 36,741.57 and furthered its gains to trade at 36,904.81, rising 233.38 points, or 0.64 per cent, in early trade. The broader Nifty opened at 11,068.75 and extended its rise to 11,110.95, gaining 75.55 points, or 0.68 per cent. Experts said that prevailing geopolitical concerns in the wake of recent India-Pakistan military conflicts will be a key factor in the upcoming general elections that may help incumbent NDA government at the Centre. With the Election Commission of India (EC) announcing dates for the much-awaited 2019 general elections, market analysts say a pre-poll rally is likely to continue, citing historical data which suggests a positive trend in the stock market in ...
Delta Corp gains after acquiring Jalesh Cruises Mauritius
Delta Corp rose 1.20% to Rs 257.50 at 9:22 IST on BSE after the company said it signed an agreement to acquire Jalesh Cruises Mauritius for $10 million.
Oil & Natural Gas Corpn Ltd Spurts 2.17%, S&P BSE Oil&Gas index Rises 1.49%
Oil & Natural Gas Corpn Ltd has added 6.86% over last one month compared to 6.4% gain in S&P BSE Oil&Gas index and 0.92% rise in the SENSEX
Sensex drifts higher in early trade
Trading for the week began on upbeat note. At 9:30 IST, the barometer index, the S&P BSE Sensex, was up 245.01 points or 0.67% at 36,916.44.
Visaka Industries commences commercial production at new V-Boards Unit at Jhanswa
The company utilised the delay in commencement of commercial production by completing all kinds of trials and established both good quality and rate of production. Necessary arrangements for the marketing like appointment of dealers, acceptance of samples etc. have already been made and the response is very good. We expect the plant would reach 50% capacity utilisation within one month and reach its full capacity progressively in the next few months thereby making up for the delay to a larger extent.
Rupee appreciates 15 paise against US dollar
The rupee appreciated 15 paise to 69.99 against the US dollar Monday on weakening greenback, fresh foreign inflows and higher opening of domestic equities. In its previous session Friday, the rupee edged 14 paise lower to close at 70.14. On a weekly basis, however, the domestic currency logged 78 paise gains. The US dollar depreciated against most Asian currencies after Federal Reserve Chairman Jerome Powell said the central bank was in no hurry to change interest rates, forex traders said adding that fresh foreign fund inflows and positive sentiment on Dalal Street also buoyed the local unit. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,095.06 crore on Friday, as per provisional data. Indian bourses opened on a positive note with Sensex trading 228.90 points higher at 36,900.33 and Nifty rose 75.90 points at 11,111.30. Meanwhile, brent crude futures, the global oil benchmark, rose 0.44 per cent to USD 66.03 per barrel.
Ghosn seeks to attend Nissan board meeting
Former Nissan chief Carlos Ghosn is seeking court permission to attend a board meeting at the Japanese automaker while out on bail, his lawyer told reporters Monday. "(Ghosn) has a duty to attend the board meeting as a member of the board, so if he is allowed, he wants to attend," Junichiro Hironaka said in comments carried on Japan's NTV televsion station. Nissan is scheduled to hold a board meeting Tuesday afternoon at the company's headquarters in the city of Yokohama. The firm said it could not confirm that Ghosn was seeking to attend the meeting but that it would be "for the court to decide" whether its former chief could be present. Nissan removed Ghosn as chief shortly after his shock November 19 arrest, but he cannot be officially removed from his seat on the board without a shareholder meeting. The company has scheduled one for April 8, but Ghosn retains the right to attend board meetings until then. But he must also obtain the court's approval, which may prove challenging ...
Market may open lower
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 35 points at the opening bell.
Trump to ask for $8.6 bn for border wall in new budget
US President Donald Trump is expected to request $8.6 billion for border wall construction in his upcoming budget proposal, multiple US media reported on Sunday.
Anup Kumar Dubey, Sushil Kumar appointed special directors in ED
Senior bureaucrats Anup Kumar Dubey and Sushil Kumar were on Sunday appointed special directors in the Enforcement Directorate (ED), according to a Personnel Ministry order. Both Dubey and Kumar are Indian Revenue Service (Income Tax) officers. Dubey has been appointed as Special Director, ED in Delhi and Kumar in Chennai, the order said.
White House predicts a tough budget for 2019-20
The annual budget of US President Donald Trump is expected to be a tough one, wherein he will propose about five per cent reduction in domestic spending across the board, according to a top White House official on Sunday. Trump will send his annual budget for the financial year 2019-20 to the Congress on Monday. Unlike India, wherein the annual budget is presented in Parliament by the Finance Minister, in the United States, the president sends his budgetary proposals in the form of a document to the Congress. Appearing on the Fox news, on the eve of the budget, White House Chief Economic Advisor Larry Kudlow said that it (budget) is aimed at dealing with the budgetary deficit and at the same time ensuring rapid growth. "If you want to deal with budget deficits, you have got rapid growth, which means keep the tax cuts in place. We believe the three per cent growth rate of 2018 will continue in 2019, and beyond 2020 and so forth," he said. "I think the other element is always to limit ..
'Metro Man' Sreedharan to serve J&K now
The Jammu and Kashmir government on Sunday appointed E. Sreedharan, popularly known as the 'Metro Man', as principal advisor to two mass rapid transit corporations in the state.
Need lower corporate tax, higher outlays on health, education: CII
Making suggestions for drawing up election manifestoes for the upcoming polls, industry chamber CII on Sunday said the next government should lower the corporate tax to 18 per cent and increase the public expenditure on healthcare and education.
IDBI charts out plan to bring banking, insurance services at one platform
IDBI Bank on Sunday said it is strategising to be a 'one-of-its-kind' financial conglomerate and plans to bring banking and insurance services under a single platform. The country's largest and the only state-owned life insurer LIC now holds a majority stake in IDBI Bank. Also, the change in ownership of IDBI Bank from a government-owned to LIC-owned has led to the lender becoming a private sector entity. "IDBI Bank is putting in place necessary business enablers to bring the convenience of banking and insurance services at one stop for all of its customers. IDBI Bank and LIC, through its collective network of branches, offices and workforce, have started leveraging their mutual business synergies," the bank said in a release. The bank said these strategic initiatives will pave the way for improved operations and better financing which in turn would lead to wealth maximisation for all of its stakeholders, including LIC and the government. This strategic plan would enable IDBI bank as .
Petrol prices on Sunday up 9-10 paise
Petrol prices rose in the range of 9 to 10 paise in the four metropolitan cities of the country on Sunday, while diesel prices remained unchanged.