Page 747 - Business Finance
Manaksia Coated Metals & Industries Ltd leads losers in 'B' group
CIL Nova Petrochemicals Ltd, Magnum Ventures Ltd, Premier Polyfilm Ltd and Ind Bank Housing Ltd are among the other losers in the BSE's 'B' group today, 08 March 2019.
Volumes soar at Laurus Labs Ltd counter
Laurus Labs Ltd clocked volume of 13.94 lakh shares by 14:18 IST on NSE, a 107.89 times surge over two-week average daily volume of 12921 shares
Centre's Sagarmala programme helping port development: Maha CM
Maharashtra Chief Minister Devendra Fadnavis Friday said port development had gained momentum due to huge amount of funds being disbursed under the Centre's 'Sagarmala' programme. Under the Union Ministry of Shipping's Sagarmala programme, 415 projects, at an estimated investment of approximately Rs 8 lakh crore, have been identified for development and modernisation across the country between 2015 and 2035. Fadnavis was speaking after e-inaugurating Karanja Terminal, a port and logistic facilities complex over Karanja Creek in Uran taluka of neighbouring Raigad district. He said these facilities are being developed over a 2000-metre waterfront and the logistic area comprises 400 acres. "We are developing huge road network to give better connectivity. With numerous initiatives, we are attracting good investment. Our policies are helping industries to grow in Maharashtra," Fadnavis said.
Indices turn range bound
The market was hovering in a narrow range near day's low in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was down 88.11 points or 0.24% at 36,637.31. The Nifty 50 index was down 31.25 points or 0.28% at 11,026.95. The Nifty managed to hold above the psychological 11,000 mark.
Punj Lloyd announces change in directorate
Dinesh Thairani - Group President - Legal & Company Secretary has also resigned from the position of Group President - Legal & Company Secretary of the Company with immediate effect.
Global PCs and tablet market to decline 3.3% in 2019: IDC
The worldwide personal computing devices (PCD) market, comprised of traditional PCs and tablets, are expected to decline 3.3 per cent in 2019, according to a new estimate from the International Data Corp (IDC).
MOIL secures mining lease for Parsoda Manganese Mine
The Production is expected to be started by end of March/April, 2019. The Mine will be operated by Opencast Mining Method.
Wipro shares down 4% on block deal reports
Stocks of Wipro on the BSE slumped over 4 per cent on Friday after reports of a block deal emerged whereby Azim Premji Trust allegedly sold 0.44 per cent or 2.67 crore shares in the company.
Grant of patents up 12 pc during Apr-Dec FY'19: DPIIT
Grant of patents during April-December 2018-19 rose 12 per cent to 10,036 due to various measures taken by the commerce and industry ministry to streamline patent examination process, according to an official data. The Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry, said Indian IP (intellectual property) office has undergone a revamp in terms of increasing manpower and making the process paperless. "Streamlining of patent examination processes and increased manpower increase grant of patents by 12 per cent between April-December 2018-19 as against the same period of 2017-18," the department said in a series of tweets. It said the country had granted 8,940 patents in the year-ago nine-month period. Examination of patent applications during the period under review also witnessed an increase of 51 per cent to 61,768 as compared to 40,790 during April-December 2017-18. Patent is a legal right granted by a country under which the holder has exclusive ...
Tata Motors stocks fall over 3% over weak global sales of JLR
The stock price of Tata Motors fell over 3 per cent on Friday after weak demand in China impacted the retail sales of Jaguar Land Rover (JLR), down 4.1 per cent during February.
Cipla Ltd drops for fifth straight session
Cipla Ltd is quoting at Rs 540.85, down 0.09% on the day as on 13:24 IST on the NSE. The stock tumbled 5.29% in last one year as compared to a 7.68% rally in NIFTY and a 6.37% spurt in the Nifty Pharma index.
GlaxoSmithkline Consumer Healthcare Ltd down for fifth straight session
GlaxoSmithkline Consumer Healthcare Ltd is quoting at Rs 7036.1, down 0.57% on the day as on 13:24 IST on the NSE. The stock in last one year as compared to a 7.68% in NIFTY and a 14.88% down 50.47% in the Nifty FMCG index.
Eros International Media Ltd rises for fifth straight session
Eros International Media Ltd is quoting at Rs 86.65, up 0.17% on the day as on 12:49 IST on the NSE. The stock is down 50.47% in last one year as compared to a 7.73% drop in NIFTY and a 24.33% drop in the Nifty Media.
Godrej Industries Ltd up for five straight sessions
Godrej Industries Ltd is quoting at Rs 510.7, up 0.01% on the day as on 12:49 IST on the NSE. The stock is down 6.64% in last one year as compared to a 7.73% spurt in NIFTY and a 14.76% spurt in the Nifty FMCG.
Max Financial Services Ltd stays in demand
Max Financial Services Ltd is quoting at Rs 415.55, up 1.43% on the day as on 12:49 IST on the NSE. The stock is down 12.52% in last one year as compared to a 7.73% gain in NIFTY and a 13.57% gain in the Nifty Financial Services.
Nifty hovers above 11,000
Stocks extended losses and hit fresh intraday low in afternoon trade. At 13:19 IST, the barometer index, the S&P BSE Sensex, was down 102.91 points or 0.28% at 36,622.51. The Nifty 50 index was down 35.55 points or 0.32% at 11,022.65. The Nifty managed to hold above the psychological 11,000 mark.
Reliance signs pact with NMSEZ to set up first integrated industrial area
Reliance Industries Limited (RIL) has entered into a memorandum of understanding with Navi Mumbai Special Economic Zone (NMSEZ) to sub-lease about 4,000 acres of land along with associated development rights for Rs 2,180 crore.This will be to set up India's first integrated industrial area for the fourth industrial revolution in Maharashtra, the company informed stock exchanges on Thursday evening.As part of a tender process, NMSEZ was allotted this land in 2006 to develop a world-class SEZ.NMSEZ is owned 26 per cent by City and Industrial Development Corporation (CIDCO) and 74 per cent by other investors. The promoter group of Reliance has indirect interest in NMSEZ.Under the Maharashtra Industrial Policy 2013, the state government permitted SEZs to migrate to integrated industrial area and make available the land for industrial units.Reliance entered into a MoU with the state government to develop a global economic hub consisting of world-class integrated digital and services ...
Granules' promoters offload equity, assets worth Rs 100 crore
Pharmaceutical manufacturing company Granules India said on Friday that its promoters sold 50 lakh shares to a group of reputed investors in a block deal on the stock exchanges to mobilise about Rs 50 crore.In addition, the promoters are monetising personal assets worth up to another Rs 50 crore which is expected to be complete shortly.The funds raised through these transactions will be used to reduce promoter leverage by up to Rs 100 crore. This will subsequently bring down their pledged position to around 30 per cent from current level of 54 per cent.The step is in line with their commitment given on Q3 FY19 earnings call to reduce the pledge continuously and make it pledge-free within two years.The promoters also reduced some amount of their personal loan in December 2018, which enabled the reduction of from their highest point of pledge of 60 per cent to current level of 54 per cent.This step has been taken after due consultation with all sets of stakeholders, and to address the ..
RBI Comes Up With Review of Guidelines For White Label ATMs In India
The Reserve Bank Of India (RBI) has come up with a review of operations of White Label ATMs (WLAs) in the country. The bank noted that according to the representations received from stakeholders and also to enhance the viability of WLAs, it has been decided to allow the WLA Operators to buy wholesale cash, above a threshold of 1 lakh pieces (and in multiples thereof) of any denomination, directly from the Reserve Bank (Issue Offices) and Currency Chests against full payment. The central bank has also allowed the operators to source cash from any scheduled bank, including Cooperative Banks and Regional Rural Banks.
E-commerce, consumer internet cos raised over USD 7 bn in PE/VC capital in 2018: EY
E-commerce and consumer internet companies have raised over USD 7 billion in private equity and venture capital funding in 2018, says EY report. The report titled 'E-commerce and Consumer Internet Sector India Trendbook 2019' launched at the IVCA Conclave 2019, noted that majority of the funding was towards building supply chain, expanding into new segments, acquisition/consolidation, and bringing innovative product offerings. Of all companies, startups like OYO, Swiggy, Byjus, PayTm Mall, Pine Labs, Zomato, Udaan, PolicyBazaar and CureFit have collectively raised the lion's share around USD 4.6 billion in 2018 of the total investments into this segment. Deals that stood out include - Walmart's acquisition of Flipkart at USD 16 billion, Alibaba's investment in BigBasket and PayTm, Tencent's investment in Dream11, and Naspers investment in Byjus and Swiggy. "The Indian e-commerce and consumer internet sector has seen significant inflow of capital in 2018, making India one of the most .