Page 755 - Business Finance
Oilmeals Exports Remain Flat This Fiscal
As per the latest release from the Solvent Extractors' Association of India (SEA), the export of oilmeals during February 2019 is provisionally reported at 141,779 tons compared to 248,663 tons in February 2018. The overall export during April 2018 to February 2019 is reported at 2,786,574 tons compared to 2,765,320 tons during the same period of last year i.e. more or less same. The export of rapeseed meal sharply increased to 962,990 (538,988) tons in first eleven months, mainly exported to South Korea, Vietnam and Thailand.
Australia Market extends gain on rate cut hopes
Market received a boost from growing speculation that the Reserve Bank of Australia (RBA) will cut key interest rates this year to stimulate the economy after data on Thursday showed only marginal growth in January retail sales. The weak consumer reading came a day after news that the economy had lost momentum in the second half of last year.
RattanIndia Finance adds personal loans to its product suite
RattanIndia Finance, the flagship financial services arm of RattanIndia Group announced the launch of its personal loans offering for salaried customers. Its retail lending offering is powered by a newly developed technology platform and backed by strong data analytics to provide customers with an easy and seamless experience.The company launched its unsecured and secured loan offering for SME customers late last calendar year. During the year, the company's wholesale lending arm has funded secured, mezzanine and special situations transactions at Opco & Holdco level across sectors including real estate with mid/ large size corporate. RattanIndia Finance was launched at the start of the year post a committed joint investment of Rs. 2,600 crores (USD $400 million) by Rajiv Rattan and affiliates of Lone Star Funds in the NBFC. Mr Rattan, Chairman of RattanIndia Group and co-founder of the Indiabulls Group was instrumental in the establishment and the overall build-out of Indiabulls .
Global smartphone shipments to fall for third consecutive year
The global smartphone market is projected to experience its third consecutive year of declining shipments as smartphone volumes are forecast to fall by 0.8 per cent, with volumes dipping to 1.39 billion, said a International Data Corp (IDC) report.
Bharti Airtel promoters, GIC to subscribe half of Rs 32K cr rights issue
Promoters of Bharti Airtel along with Singapore government's investment arm GIC Private Ltd will subscribe to over half of the proposed Rs 32,000 crore rights issue in a bid to infuse funds in the company. "The entire rights entitlement of promoter and promoter group of approximately Rs 167,857million (Rs 16,785.7 crore) will be subscribed by them and GIC," Bharti Airtel said in a statement Thursday. The statement further added that the promoter and promoter group will subscribe to Rs 117,857million (Rs 11,785.7 crore) and GIC will subscribe to Rs 50,000million (or Rs 5,000 crore) by way of renouncement in their favour. One of the promoters Singapore Telecommunications Ltd (Singtel) said it will infuse Rs 3,750 crore in Bharti Airtel by subscribing to the proposed Rs 25,000 crore rights issue of the company. Singtel announced that "it will subscribe to 170 million new shares in the Rs 250 billion rights issue by regional associate Bharti Airtel (Airtel) at an issue price of Rs 220 per
Nelco sizzles after securing licence from DoT
Nelco rose 2.45% to Rs 270.20 at 12:13 IST on BSE after the company announced securing In-Flight & Maritime Connectivity licence from Department of Telecommunications.
Indo Thai Securities Ltd leads gainers in 'B' group
Hilton Metal Forging Ltd, Arihant Superstructures Ltd, Jayant Agro Organics Ltd and Nila Infrastructures Ltd are among the other gainers in the BSE's 'B' group today, 07 March 2019.
Nifty turns negative; IT shares decline
The market wiped off intraday gains in mid-morning trade. At 11:18 IST, the barometer index, the S&P BSE Sensex, was up 29.32 points or 0.08% at 36,665.42. The Nifty 50 index was down 4.30 points or 0.04% at 11,048.70.
REC announces change in directorate
With effect from 06 March 2019
Hindustan Construction Company Ltd leads gainers in 'A' group
SJVN Ltd, NHPC Ltd, JSW Energy Ltd and Avanti Feeds Ltd are among the other gainers in the BSE's 'A' group today, 07 March 2019.
Reliance Capital to cut debt by Rs 10K-12K crore soon
The Anil Ambani-led Reliance Capital Ltd on Thursday said it will reduce its debt by approximately Rs 10,000 to 12,000 crore in the next three-four months by monetising its stakes in group companies and non-core investments.
Volumes soar at Jubilant Life Sciences Ltd counter
Jubilant Life Sciences Ltd clocked volume of 6.8 lakh shares by 10:48 IST on BSE, a 31.18 times surge over two-week average daily volume of 21803 shares
HFCL advances after new order win
Himachal Futuristic Communications rose 2.96% to Rs 24.35 at 10:35 IST on BSE after the company announced winning order of Rs 117 crore for supply of optical fibre cables from Tata Project.
HC asks NSL to pay Rs 138 cr dues of Mahyco Monsanto Biotech
The Bombay High Court has directed Hyderabad-based Nuziveedu Seeds Ltd (NSL) to deposit Rs 138 crore in the court towards payment of its dues to biotechnology company Mahyco Monsanto Biotech Ltd (MMBL). MMBL sells Bt technology to cotton seed companies under sub-licence agreements. According to a statement released by MMBL, NSL and several other seed makers stopped payment of trait fee on the technology to the biotech company in 2015, arguing the technology had turned ineffective and so, they need not pay royalty. As per the statement, around 15 seed companies, including NSL, owed Rs 450 crore to MMBL. Of these, all but NSL group companies agreed to settle the issue and pay up. MMBL and NSL subsequently took the matter for arbitration and in January this year, the arbitration tribunal directed NSL to pay around Rs 117 crore to MMBL towards trait value for all sales in 2015. MMBL then filed a petition in the high court seeking to enforce the tribunal's order. On Wednesday, a single ...
Sensex, Nifty firm up; breadth positive
The market firmed up and hit fresh intraday high in morning trade. At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 75.84 points or 0.21% at 36,711.94. The Nifty 50 index was up 9.05 points or 0.08% at 11,062.05.
Bharti Airtel promoters, GIC to subscribe half of Rs 32K rights issue
Promoters of Bharti Airtel along with Singapore government's investment arm GIC Private Ltd will subscribe to over half of the proposed Rs 32,000 crore rights issue in a bid to infuse funds in the company. "The entire rights entitlement of promoter and promoter group of approximately Rs 167,857million (Rs 16,785.7 crore) will be subscribed by them and GIC," Bharti Airtel said in a statement Thursday. The statement further added that the promoter and promoter group will subscribe to Rs 117,857million (Rs 11,785.7 crore) and GIC will subscribe to Rs 50,000million (or Rs 5,000 crore) by way of renouncement in their favour. The Board of Bharti Airtel approved the rights issue to raise up to Rs 25,000 crore through the issuance of fully paid up shares at a price of Rs 220 per share and to raise an additionalRs7,000 crore via the foreign currency perpetual bond issue. GIC has confirmed to subscribe to this renounced entitlement on behalf of Government of Singapore and Monetary Authority of .
Vedanta Ltd Slides 1.65%
Vedanta Ltd has added 8% over last one month compared to 7.74% gain in S&P BSE Metal index and 0.22% rise in the SENSEX
L&T Construction bags new orders under various business segments
Buildings and Factories Business: