Page 764 - Business Finance
Rupee slips 11 paise to 70.60 vs USD in opening trade
The rupee depreciated 11 paise to 70.60 against the US dollar in opening trade Wednesday on increased demand for the greenback from importers and banks. Forex dealers said, strengthening of the American currency in the overseas market weighed on the domestic currency. However, fresh foreign fund inflows, easing crude prices and positive opening in domestic equities supported the rupee and restricted the fall. The rupee opened weak at 70.60 at the interbank forex market down 11 paise over its last close. The local currency however pared the initial loss and was trading ar 70.55. The rupee Tuesday had strengthened by 43 paise to close at 70.49 against the US dollar. Foreign investors put in Rs 751.92 crore on a net basis in capital markets Tuesday, provisional exchange data showed. Brent crude futures, the global oil benchmark, eased 0.76 per cent to USD 65.36 per barrel. Indian bourses furthered gains in early trade Wednesday, with benchmark indices Sensex and Nifty adding 157 points ..
L&T advances after large order win
Larsen & Toubro rose 0.72% to Rs 1,316 at 09:35 IST on BSE after the company announced that L&T Construction has won a large contract for Metro Rail project Phase - 2 by Bangalore Metro Rail Corporation.
Tata Motors Ltd Falls 1.49%
Tata Motors Ltd has added 5.99% over last one month compared to 3.27% gain in S&P BSE Auto index and 0.03% drop in the SENSEX
Reliance Home Finance gets revision in ratings for ST debt programme from ICRA
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Indian stocks further gains in early trade
Indian bourses furthered gains in early trade on Wednesday, with benchmark indices Sensex and Nifty adding 157 points and 53 points, respectively, on sustained buying mainly in stocks of finance, metal and capital goods sectors. The BSE barometer Sensex opened positively at 36,544.86 and further consolidated its gains to trade at 36,599.69, climbing 157.15 points, or 0.49 per cent, over the previous close. It had gained nearly 379 points to close at 36,442 on Tuesday. The 30-share index gained nearly 575 points in the last two trading sessions. The NSE gauge Nifty opened at 11,024.85 and rose to 11,040.85, gaining 53.40 points, or 0.49 per cent. The 50-scrip index had jumped 124 points to close at 10,987. On BSE, ICICI Bank, SBI, Vedanta were leading the gainers chart. "The buoyancy in the market sentiment is clearly evident from last few sessions, where mid and small caps have come to the fore and started to outperform. The market breadth has also improved on the back of the market ..
New India Assurance Company Ltd Surges 12.32%, S&P BSE PSU index Gains 1.09%
New India Assurance Company Ltd has added 15.61% over last one month compared to 5.14% gain in S&P BSE PSU index and 0.06% drop in the SENSEX
Nifty crosses 11,000 mark; strong market breadth
Key benchmark indices were trading higher in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 117.47 points or 0.32% at 36,560.01. The Nifty 50 index was up 37.55 points or 0.34% at 11,025. The Nifty crossed the psychologically important 11,000 mark.
Grasim Industries to acquire Soktas India for Rs 165 crore
SIPL is currently a wholly owned subsidiary of SOKTAS Tekstil Sanayi ve Ticaret A.S., world renowned producer and marketer of fabrics, with its main facilities in Soke, Turkey.
Board of Karur Vysya Bank approves information memorandum for issue of NCDs upto Rs 1200 cr
At meeting held on 05 March 2019
Fiberweb (India) develops new product
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Board of Quick Heal Technologies approves buyback of shares
At meeting held on 05 March 2019
Glenmark Pharmaceuticals appoints CEO for its new innovative company in US
Glenmark Pharmaceuticals announced on 14 February 2019, the in-principle approval from its Board of Directors to spin off the innovation business into a new company headquartered in the US. The new company will be a wholly-owned subsidiary of Glenmark and will operate with Alessandro Riva as the CEO, a management team and an independent Board of Directors
White Organic Agro receives order for cultivation of Okra vegetable
The company shall begin the plantation post Holi and shall go on for the summer season (i.e :- till End of June 2019). The total revenue expected from the overall cultivation of vegetables would be approx Rs 1.5 crore per cycle. The scalability of business of vegetables in the international market from our farms is Rs 7.5 to 10 crore.
China says new law will bar demands for technology handover
China says it will bar government authorities from demanding overseas companies hand over technology secrets in exchange for market share. Vice Chairman of the Cabinet's economic planning agency Ning Jizhe told reporters on Wednesday that the provision will be contained in a foreign investment law. Accusations that China demands the disclosure of technology secrets are a key stumbling point in the U.S.-China trade dispute that has seen a major disruption in commerce between the world's two largest economies. Chinese Premier Li Keqiang on Tuesday set this year's growth target for the country at 6 to 6.5 percent. Such a growth rate, if achieved, would be among the world's strongest. Yet it would be slightly below last year's 6.6 per cent growth in China and would mark a new three-decade low.
Australia's economy slows ahead of election
Australia's economic growth ground to a near halt in the second-half of 2018, official data showed Wednesday, thrusting the issue to the front and centre of an already contentious general election campaign. The figures released by Australia's statistics agency showed growth for October to December at 0.2 per cent, after a 0.3 per cent reading in the previous three months. "Growth in the economy was subdued, reflecting soft household spending and a decline in dwelling investment," the Bureau of Statistics' chief economist Bruce Hockman said in a statement. "The approvals for dwelling construction indicate that the decline in dwelling investment will continue." Conservative Prime Minister Scott Morrison has based his re-election campaign on stewardship of the economy and allegations that a centre-left Labor party government would spell an end to 28 years of continuous growth. Annual growth came in at 2.3 percent but the pace of expansion in the second-half of 2018 -- the weakest since ..
Quick Heal Tech in focus on buyback plan
The board of directors of Quick Heal Technologies approved buy-back of up to 63.63 lakh equity shares aggregating up to 9.02% of fully paid-up equity share capital of the company, at Rs 275 per share on a proportionate basis. The announcement was made after market hours yesterday, 5 March 2019.
Market may extend gains
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 24 points at the opening bell.
US stocks close lower amid mixed data, Fed official's dovish speech
US stocks ended lower as investors digested a batch of mixed economic data and a senior US Federal Reserve official's cautious speech.
US stocks trade mixed amid upbeat economic data
US stocks traded mixed on Tuesday as investors digested a batch of positive economic data and a senior US Federal Reserve official's cautious speech.