Page 778 - Business Finance
CIL's supplies to power sector up 7.1% in April-Feb
The Coal India Limited (CIL) said here on Saturday its supplies to the power sector grew by 7.1 per cent to 440.8 million tonnes (mt) in April-February of the current financial year.
LIC cuts 2.18 pc stake in Welspun
State-owned LIC has brought down its stake in Welspun Corporation to 5.54 per cent by selling shares in the open market. According to a regulatory filing by Welspun Corp, LIC which held 2,04,82,544 shares, or 7.72 per cent, sold 57,89,140 shares or 2.18 stake in the company. Post the open market sale, LIC's stake in Welspun reduced to 5.54 per cent or 1,46,93,404 shares, as per the filing.
Govt offers pension for employees of public sector insurance companies
The government has decided to allow one more opportunity to employees of public sector insurance companies who joined the service by June 28, 1995 to opt for pension as a retirement benefit, it was announced on Saturday.In April 1997, employees of Life Insurance Corporation, General Insurance Corporation of India, National Insurance Company Ltd, Oriental Insurance Company Ltd, United India Insurance Company Ltd and New India Assurance Company Ltd were offered a similar opportunity.But many eligible employees could not exercise the option. There has been a long-standing demand for another chance. To mitigate the hardships of such employees of whom many have retired, the government has decided as a welfare measure to allow one more opportunity to employees of public sector insurance companies who joined service on or before June 28, 1995 to opt for the pension scheme of their respective organisations in lieu of contributory provident fund.The decision is expected to benefit 42,720 ...
Goyal sees Jet Airways situation easing by March 18
Even as speculations are rife about Jet Airways' founder Naresh Goyal's plans to quit as Chairman to save a rescue plan for the passenger airline, he said the situation should ease by March 18.
Report: Iran merges military-affiliated banks
Iran's official IRNA news agency says the Central Bank has merged four banks and a credit union to reform the country's banking system and financial markets. The Saturday report announced the merger of Ansar, Mehr-e Eghtesad, affiliated with powerful Revolutionary Guard, Ghavvamin, affiliated with the police, Hekmat-e Iranian Bank and the Kosar Credit Institute, affiliated with the defense ministry, with Bank Sepah, Iran's first bank that is also affiliated with the army. Bank Sepah has 1800 branches in Iran and others in Britain, France, Germany and Italy. The United States imposed sanctions on Bank Sepah in November after it withdrew from Iran's 2015 nuclear deal with world powers.
Kolte Patil Developers invests additional Rs 70 cr in township project at Pune
The investment is in the form of convertible preference shares and debentures and has acquired these securities from its project SPV partner India Advantage Fund - III and India Advantage Fund -IV managed by ICICI Venture Funds Management Company.
Vodafone Idea completes network integration in J&K
India's largest telecom operator Vodafone Idea Ltd -- formed after merger of Vodafone and Idea -- announced Saturday the consolidation of its radio network integration in Jammu & Kashmir. "With this, J&K is amongst the first nine circles to complete integration in the world's largest network integration exercise which is currently underway in India. J&K circle integration was completed within a short span of two months," Vodafone Idea said in a statement. Vodafone Idea coverage is now available across 110 towns and 3,301 villages in Jammu & Kashmir. 4G coverage has expanded to over 23.6 per cent population in the region covering 9 districts, including 48 towns and 526 villages in the region, for customers of both the brands, the statement said. It further said 4G services stand enhanced for both Vodafone and Idea customers in cities such as Jammu, Katra, Rajouri, amongst others. "The teams of Vodafone Idea and network partners worked in difficult conditions in the ...
JSW Steel signs a landmark USD 700 mn Advance Payment and Supply Agreement with DITH Group
This unique financing structure provides JSW long term funding to complement its plans for future growth secured by committed exports of steel products to DITH. For DITH the transaction assures a captive supply of various steel products from JSW over the term of the APSA.
China welcomes US decision to suspend tariff hike
China on Saturday welcomed the US decision of suspending the tariff hike of goods imported from China, as the two countries intensified negotiations to reach a deal to end the current trade war between the world's two largest economies. The Customs Tariff Commission of China said it accepted the statement from US Trade Representative Office, which stated that Chinese goods that have been subject to tariffs since September 2018 will maintain a 10-per cent tariff rate until further notice, state-run CGTN television reported. The US earlier announced a tariff increase of Chinese goods from 10 per cent to 25 per cent, which was initially scheduled for January 1, but the Trump administration extended the deadline for 90 days due to progress in talks. Trump is demanding China to reduce the USD 375 billion trade deficit and protection of intellectual property rights (IPR), technology transfer and more access to American goods to Chinese markets. He has already increased the tariffs on over ..
PM has again failed in this quarter's numbers: Rahul
Congress president Rahul Gandhi Saturday hit out at Prime Minister Narendra Modi over declining growth in the third quarter of this fiscal, saying the "chowkidaar" has once again failed in the numbers of the quarter. Gandhi's comment came a day after his party alleged that despite "fudging" of data by the Modi government, India's economy continues to slide. "False promises, false games. The chowkidaar has failed again in this quarter's numbers," the Congress chief said on Twitter, citing a news report that India's growth declined to 6.6 per cent in the quarter ending December 2018. On Friday the Congress had tweeted that "as PM Modi's disastrous tenure comes to an end, despite all the fudging, the economy continues to slow." "Less than two months to go before India sees a new dawn," the party said on its official Twitter handle. Senior Congress leader and former finance minister P Chidambaram has said the latest quarterly growth rates "puncture" the government's claims on the ...
Trump asks China to lift tariffs on US farm produce
US President Donald Trump on Friday (local time) asked China to lift all tariffs on agricultural products imported from the United States, considering the fact that trade talks between the two countries were "moving along nicely."Trump tweeted: "I have asked China to immediately remove all Tariffs on our agricultural products (including beef, pork, etc.) based on the fact that we are moving along nicely with Trade discussions...."Trump reminded China that the US did not increase the second round of tariffs on Chinese goods that was originally scheduled to come into effect on March 1."....and I did not increase their second traunch of Tariffs to 25% on March 1st. This is very important for our great farmers - and me," tweeted the US President.China and the United States have temporarily halted the trade war between the sides in order to hold talks to alleviate the situation. A 90-day truce period was decided upon by Trump and Xi when they met on the sidelines of the G20 summit in ...
IIM-C to offer programme in Fintech & Financial Blockchain
The Indian Institute of Management, Calcutta has announced an Advanced Programme in FinTech and Financial Blockchain for the benefit of management and finance professionals. The new programme, to help candidates appreciate the explosive growth of FinTech and its increasingly disruptive impact on the banking and financial ecosystem, will be offered in association with TalentSprint starting May 2019. Professor (Finance & Control) Faculty-in-charge, The Financial Research and Trading Laboratory, IIM (C) Prof Ashok Banerjee said Friday, this IIM Calcutta FinTech programme will be delivered in a format which will consist of "on site visits to the IIM (C) campus and live online sessions via the TalentSprint digital platform." Financial technology, or FinTech, is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. Banerjee said working professionals from banking, financial services and technology .
Rs 9,000 cr gas-grid project for NE, Bengal: Pradhan
A Rs 9,000 crore gas-grid project has been approved to transport natural gas among northeastern states and West Bengal, Union Petroleum and Natural Gas Minister Dharmendra Pradhan said here on Saturday.
Nifty March futures at steep premium
Turnover in F&O segment drops
Volumes soar at SBI Life Insurance Company Ltd counter
SBI Life Insurance Company Ltd clocked volume of 100.85 lakh shares by 14:14 IST on NSE, a 38.26 times surge over two-week average daily volume of 2.64 lakh shares
GAIL (India) Ltd spurts 2.08%, up for five straight sessions
GAIL (India) Ltd is quoting at Rs 349.1, up 2.08% on the day as on 12:44 IST on the NSE. The stock is up 4.93% in last one year as compared to a 4.6% gain in NIFTY and a 8.32% gain in the Nifty Energy.
Sensex reclaims 36,000
Key benchmark indices drifted higher in early trade on buying demand in index pivotals. Stocks held onto gains in morning trade. Key indices hovered in small range with modest gains in mid-morning trade. Local stocks pared some intraday gains in early afternoon trade. The market turned range bound in afternoon trade. Market regained strength in mid-afternoon trade as European stocks were trading higher in early trade. Stocks extended gains in late trade.
Outcome of board meeting of Union Bank of India
Held on 02 March 2019
Cement stocks gain
The Sensex was currently trading above the psychological 36,000 level after regaining that level in opening trade. Key benchmark indices drifted higher in early trade on buying demand in index pivotals. Stocks held onto gains in morning trade. Key indices hovered in small range with modest gains in mid-morning trade. The market turned range bound in afternoon trade.