Page 748 - Business Finance
Zinc futures shed 0.72 pc on low demand
Zinc prices were down by 0.72 per cent in futures trading Friday as traders cut down bets on weak trend at the domestic spot markets due to fall in demand from consuming industries. At the Multi Commodity Exchange, zinc for delivery in April contracts fell by Rs 1.50, or 0.72 per cent, to Rs 207.50 per kg in a business turnover of 970 lots. Trimming of positions by speculators to book profits and low demand at the domestic spot markets weighed on zinc prices at futures trade, analysts said.
Inox Leisure Ltd spurts 1.47%, gains for five straight sessions
Inox Leisure Ltd is quoting at Rs 297.6, up 1.47% on the day as on 12:49 IST on the NSE. The stock is up 11.31% in last one year as compared to a 7.73% fall in NIFTY and a 24.33% fall in the Nifty Media.
Mahindra & Mahindra Ltd up for fifth session
Mahindra & Mahindra Ltd is quoting at Rs 672.5, up 0.1% on the day as on 12:49 IST on the NSE. The stock is down 7.69% in last one year as compared to a 7.73% spurt in NIFTY and a 21.13% spurt in the Nifty Auto.
Maruti Suzuki India offer exclusive deals on International Women's Day
These customers will be offered complimentary service vouchers, discounts on service labour charges, parts and accessories, for their Maruti Suzuki vehicles. In addition, complimentary dry wash and free vehicle pick up and drop facility will be provided.
Aluminium futures up 0.28% on spot demand, global cues
Aluminium prices inched up 0.28 per cent to Rs 144.25 per kg in futures trade Friday as speculators created fresh positions amid rising spot demand and positive overseas cues. At the Multi Commodity Exchange, aluminium for delivery in March edged up by 40 paise, or 0.28 per cent, to Rs 144.25 per kg in 1,965 lots. Analysts said positions built up by participants on the back of rising demand from consuming industries in the physical markets, coupled with positive global cues, led to the rise in aluminium prices.
Ennore LNG terminal to help IOC fast-track city gas project
India's first east coast LNG import terminal at Ennore in Tamil Nadu will help state-owned Indian Oil Corp (IOC) fast-track its city gas distribution plans, said Wood Mackenzie. The 5 million tonne per annum (MTPA) liquefied natural gas (LNG) import and regasification terminal, built by IOC at a cost of Rs 5,150 crore, was commissioned earlier this week. "IOC has already secured captive customers for 2 MTPA of capacity. The Ennore terminal will also help fast-track IOC's city gas distribution plan, as gas from the terminal will be supplied to consumers around Chennai and Madurai," Wood Mackenzie's senior analyst Kaushik Chatterjee said in a report. India plans to double its LNG import and regasification capacity to 56.5 MTPA by 2025 to meet the energy needs of a fast-growing economy. In order to supply natural gas to various consumers, IOC is laying a 1244-km pipeline for evacuation of gas from Ennore terminal. The pipeline from the terminal will go up to Madurai, Trichy and Tuticorin
Passenger vehicle sales down 1.11% in Feb; to miss FY forecast: SIAM
Domestic passenger vehicle (PV) sales dropped 1.11 per cent in February, making it the seventh decline in eight months, prompting auto industry body SIAM to suggest that it will miss even the scaled down forecast of 6 per cent for the ongoing fiscal. The Society of Indian Automobile Manufacturers (SIAM) said uncertainty ahead of elections coupled, weak market sentiment and unfavourable factors like high interest rates and insurance cost are continuing to affect sales. In its latest data, SIAM said domestic PV sales were at 2,72,284 units in February, down from 2,75,346 units in the same month previous year. "What we are seeing is that the market sentiment is subdued. Interest rates are still high and we have not been able to recover from the impact we have had earlier on the year," SIAM Director General Vishnu Mathur told reporters here. The sales decline in February is the seventh instance in the last eight months, with the only positive growth since July last year coming in October,
Silver futures surge 0.32% on global cues
Silver futures traded higher by 0.32 per cent at Rs 38,184 per kg Friday after speculators raised bets, driven by a firm trend overseas. Silver for delivery in May traded higher by Rs 120, or 0.32 per cent, at Rs 38,184 per kg in a business turnover of 19,695 lots at the Multi Commodity Exchange. Similarly, the white metal to be delivered in July also rose by Rs 158, or 0.41 per cent, to Rs 38,770 per kg in 285 lots. Widening of positions by traders, in sync with a firm trend in global markets for precious metals, influenced silver prices at futures trade here, analysts said. In the international market, silver traded higher at USD 15.09 an ounce in Singapore Friday.
Crude oil futures fall 0.9 pc on weak global cues
Crude oil futures fell by 0.9 per cent to Rs 3,946 per barrel Friday as speculators trimmed their holdings, in line with a weak trend overseas. Crude oil for delivery in March was trading lower by Rs 36, or 0.9 per cent, at Rs 3,946 per barrel with a business volume of 14,634 lots at the Multi Commodity Exchange (MCX). Crude oil for April also fell by Rs 36, or 0.89 per cent, to Rs 3,987 per barrel with a business volume of 712 lots. Traders said persistent fall in crude oil at futures market is largely in sync with a weak trend overseas on higher supply from world's major producers and profit-booking by participants. Meanwhile, West Texas Intermediate fell 0.69 per cent to USD 56.30, while Brent was trading down 0.75 per cent at USD 65.80 a barrel.
NCLAT allows withdrawal of Liberty House bid for ARGL
The National Company Law Appellate Tribunal (NCLAT) on Friday allowed the withdrawal of UK-based Liberty House bid for ARGL on the plea of resolution professional of the debt-ridden company. A two-member bench, headed by Justice S J Mukhopadhaya, also pulled Liberty House for not pursuing the corporate insolvency resolution process after being selected as the highest bidder. You are a failure party all the time, dragging your feet. You are in bad reputation. We would not allow you to take advantage of the appellate tribunal, the bench said. NCLAT has upheld the previous order of the Chandigarh bench of NCLT, which had imposed a cost of Rs 1 lakh on Liberty House citing casual approach. The appellate tribunal also directed to deduct the time period between December 14, 2018, and Friday from the resolution process. Under the Insolvency and Bankruptcy Code, a resolution process has to be completed under 180 days with a further extension of 90 days to 270 days. Meanwhile, NCLAT also said .
Gold up by Rs 122 in futures trade on global cues
Gold price edged up by Rs 122 to Rs 32,056 per 10 gram at the futures market Friday as participants widened their bets in tune with the gain in the metal overseas. At the Multi Commodity Exchange, gold to be delivered in April rose by Rs 122, or 0.38 per cent, to trade at Rs 32,056 per 10 gram in a business turnover of 89 lots. Raising of bets by speculators at current levels and a firm trend overseas mainly pushed up gold price at futures trade here, analysts said. Globally, gold was trading up 0.70 per cent at USD 1,292.85 an ounce in Singapore.
Travelling solo with financial independence
The rise of the solo Indian women traveller is here to stay. The concept of solo women travels that was earlier looked upon as an extreme, bold and high-risk factor event has now evolved into a perception of fun, adventure, independence and self-love.There is a steady increase in the number of women predominantly from the millennial and +50 years age group who are actively engaging in solo globetrotting. Women ranging from diverse Indian social and income demography are great earners who are prioritizing travel as a key element of their disposable income.According to the recent statistics shared by Lonely Planet, 67% of solo travellers are women. Cleartrip too recently shared a study indicating that travel searches by women have substantially increased in the last three years and 75% of the bookings made by women are for solo travel.Apart from the great global social media exposure delivering positive messaging of safe and fun travel and increase in the convenient and women ...
Gaurav Mashruwala talks portfolio diversification with US Freedom Capital
Financial Planning Expert, Gaurav Mashruwala, talked to a web-audience on the do's and don'ts of portfolio diversification on 7th March. The host of the webinar was a Mumbai based investment house US Freedom Capital.During the webinar, Mashruwala indicated that at the most basic level, diversification means investing in a manner where not all assets fluctuate in the same direction at the same time. Aligning your investments to your financial goals, he said, is especially important. On that note, he outlined the most critical aspects of a well-diversified portfolio. This includes articulating your financial goals, analyzing your cash flows, and knowing the items that you're invested across. In addition to these aspects, he laid great emphasis on timelines: "The sooner you assess and thoughtfully construct your portfolio, the better."Contrary to popular belief, he added, the focus of diversification is not purely about generating the highest returns. In fact, Mashruwala is of the view
China's imports, exports tumble more than expected in February
China's exports and imports plummeted much more than expected in February, official data showed Friday, adding to worries about slowing growth in the world's number two economy as it fights a trade war with the US. Its politically sensitive trade surplus with the US narrowed to USD 14.7 billion for the month from USD 27.3 billion in January, the data from China's customs administration showed. China's total overseas shipments sank 20.7 per cent on-year and imports fell 5.2 per cent, much worse than the 5.0 per cent and 0.6 per cent drops forecast in a Bloomberg News poll. "Today's trade figures reinforce our view that China's trade recession has started to emerge," said Raymond Yeung of ANZ bank in a note. "Looking ahead, we find little reason to expect a rebound in the near term on the back of a sluggish global electronics cycle," said Yeung, adding it would weigh on China's first quarter GDP growth. Recent economic data point to the difficulties China faces with growth in the last ..
Jindal Poly Investment & Finance Company Ltd leads gainers in 'B' group
Future Market Networks Ltd, TPL Plastech Ltd, N K Industries Ltd and Mangalam Drugs and Organics Ltd are among the other gainers in the BSE's 'B' group today, 08 March 2019.
China Market rises to fresh nine-month high
Headline indices of the Mainland China equity market closed at fresh nine-month high on Thursday, 07 March 2019, registering fifth straight sessions of gain, after Beijing lawmakers outlined new measures that were seen as a concession in Donald Trump's trade war. Sentiment was also helped by Chinese Premier Li Keqiang's announcement on Tuesday of a GDP growth target of 6 to 6.5% this year, a fresh bout of infrastructure spending and tax cuts totalling 1.3 trillion yuan ($200 billion). At closing bell, the benchmark Shanghai Composite Index added 0.14%, or 4.32 points, to 3,106.42. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.49%, or 8.12 points, to 1,668.53. The blue-chip CSI300 index fell 1.02%, or 39.24 points, to 3,808.85.
Advanced Enzyme Technologies Ltd leads gainers in 'A' group
Jai Corp Ltd, Reliance Nippon Life Asset Management Ltd, Granules India Ltd and Tamil Nadu Newsprint & Papers Ltd are among the other gainers in the BSE's 'A' group today, 08 March 2019.
US stocks end lower for fourth straight session
Slowing global economy impact indices
US stocks end in the red
Health care and energy sectors were the main laggards
Tata Motors drops after poor JLR sales
Tata Motors lost 3.04% at Rs 183.45 at 11:31 IST on BSE after Jaguar Land Rover retail sales dropped 4.1% to 38,288 vehicles in February 2019 over in February 2018.