Page 779 - Business Finance
Metal and mining stocks gain
The Sensex was currently trading a tad 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.
Telecom stocks rise
Key benchmark indices drifted higher in early trade on buying demand in index pivotals. Stocks held onto gains in morning trade.
Central Bank of India to allot 68.72 crore equity shares to GoI
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Hyundai reports 1.6 pc decline in February sales
Hyundai Motor India Ltd (HMIL) Saturday reported 1.6 per cent decline in total sales at 54,518 units in February. The company had sold 55,422 units in February last year, HMIL said in a statement. Domestic sales were at 43,110 units as against 44,505 units in the year-ago month, down 3.1 per cent, it added. Exports were, however, up 4.5 per cent at 11,408 units as compared to 10,917 units in February last year, the company said.
Hyundai Motor logs negative growth in Feb sales
Car maker Hyundai Motor India Ltd (HMIL) on Saturday said its sales went down last month as compared to the same period the previous year.
Punjab cabinet gives nod to disburse Rs 25 per qtl to cane growers
The Punjab cabinet Saturday gave nod to disburse Rs 25 per quintal to cane growers out of the state agreed price (SAP) of Rs 310 for the crushing season 2018-19. The balance amount of Rs 285 per quintal will be paid by the private sugar mills. The decision in this regard was taken during the meeting of council of ministers led by Chief Minister Amarinder Singh here. The ex-post facto approval to directly credit Rs 25 per quintal into the accounts of sugarcane growers came nearly three months after the state government had agreed to pay Rs 25 per quintal following state-wide protests by cane growers. The move is aimed at ensuring economic viability of the mills and timely cane payment to the farmers for the crushing season 2018-19, and is a follow-up of the decision taken in this regard at a meeting held under the Chairmanship of the CM on December 5, 2018, as per an official release. Notably, cane growers had resorted to protests in last December after seven private sugar mills ...
54,000 home buyers to get possession of flats in Noida, Gurugram until March
Noida and Gurugram property markets are likely to witness a delivery of about 54,000 flats to home buyers by March 2019 with developers focusing on completing pending projects, according to brokerage firm PropTiger. "Projects delays have led to several real estate developers in the national capital region struggle for their survival. However, this has also led to other developers making their best effort to deliver more," PropTiger said in a statement. According to its data, real estate developers will deliver over 30,000 housing units in the Noida property market in the last quarter of the current financial year (Q4 FY19). Builders have already given possession over 57,000 units to buyers so far during this fiscal. Most of the units that would be ready for possession are concentrated along the Yamuna Expressway and Noida Expressway areas. During the next fiscal, over 94,000 additional units are likely to be delivered in Noida property market. Similarly, developers in Gurugram are ...
Pharma specialist new CEO of Biocon Biologicals
India's biotech major Biocon on Saturday announced the appointment of international pharma specialist Christiane Hamachar as the new CEO of its subsidiary Biocon Biologicals Ltd.
Central Bank puts Rs 3,300 cr NPA on auction
Taking a cue from the SBI, the Central Bank of India on Saturday put four big accounts of NPA worth Rs 3,300 crore on sale through the SARFAESI Act, though some of the assets are currently under the NCLT resolution process.
Gold slips below Rs 34,000 on weak global cues
Gold prices fell by Rs 310 to Rs 33,770 per 10 grams at the bullion market Saturday due to tepid demand from local jewellers and weak global cues. Silver rates also drifted lower by Rs 730 to Rs 39,950 per kg due to reduced offtake by industrial units and coin makers. Traders said sentiment remained bearish on the back of a weak trend overseas as the dollar strengthened to a 10-week high against the yen, boosted by better-than-expected US gross domestic data for the fourth quarter, making bullion less attractive as a safe-haven investment. Globally, spot gold fell 1.52 per cent to USD 1,293.90 an ounce and silver by 2.47 per cent to USD 15.29 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped sharply by Rs 310 each to Rs 33,770 and Rs 33,600 per 10 gram, respectively. Gold prices had fallen by Rs 570 in the previous two days. Sovereign, however, remained unchanged at Rs 26,500 per piece of eight grams. Silver ready fell by Rs 730 to ..
Gold, silver slide on global cues, fall in demand
Gold prices dropped by Rs 820 to close at Rs 33,770 per ten grams during the week at the bullion market on account of fall in demand from local jewellers and subdued global trend. Silver rates also saw a decline during the week and slipped below the Rs 40,000-mark on poor offtake by industrial units and coin makers. Sentiment turned downbeat in sync with the weak trend overseas on a stronger dollar which soared to a 10-week high and rising US treasury yields, boosted by better-than-expected US GDP data for the fourth quarter, released during the week. Higher global stocks too weighed on the domestic bullion market sentiments. Globally, spot gold ended the week lower at USD 1,293.90 an ounce, its lowest since January 28 and silver at USD 15.29 an ounce in New York. Moreover, a considerable fall in demand from local jewellers and retailers at domestic spot market too put pressure on the precious metal prices, they said. In the national capital, gold of 99.9 per cent purity after a ...
BoB appoints Adhia as Non-Executive Chairman
Former Finance Secretary Hasmukh Adhia has been appointed as the Non-Executive Chairman of Bank of Baroda."The Central government has appointed Dr Hasmukh Adhia as part-time Non-Official Director as well as Non-Executive Chairman on the Board of Bank of Baroda for a period of three years," the bank informed stock exchanges on Saturday.Adhia is an Indian Administrative Service (lAS) officer of the 1981 batch belonging to Gujarat who served as Finance Secretary and Revenue Secretary. He had retired in November 30, 2018.Adhia's appointment as Non-Executive Chairman is effective from March 1, and comes as a merger is underway between Bank of Baroda, Dena Bank and Vijaya Bank.
Reduce refinancing risk for NBFCs to boost securitisation (Column: Behind Infra Lines)
Events in India's credit market over the last one year have once again shown that debt used well is a value creator, but excessive debt can lead to severe problems. The crucial point to keep in mind is that well-structured lending institutions in the credit space are much needed to aid a rapidly growing economy, and, therefore, strategies that will help create such companies are worth analysing.
Trump asks China to remove agricultural tariffs on US
US President Donald Trump has asked China to remove all of its tariffs on American agricultural products, pointing to his decision to delay a second round of tariffs and to improving trade relations with Beijing.
US stocks close higher amid upbeat corporate earnings, mixed data
US stocks traded higher as the market was underpinned by stronger-than-expected corporate earnings in the fourth quarter last year and investors digested a batch of mixed economic data.
US stocks trade higher amid Fed chair's stress on patience
US stocks traded higher on Friday, as investors digested US Federal Reserve chair's latest speech on a patient approach to further monetary tightening and Friday's US consumer sentiment data.
ABB India net up 15% in fourth quarter
Swedish power equipment maker ABB India on Friday reported Rs 198-crore net profit for the fourth quarter (October-December) of calendar year 2018, registering 15 per cent annual growth from Rs 172 crore in the same period a year ago.
Exim Bank expects 10% growth this fiscal
Export-Import Bank of India (Exim Bank), which has been bullish on Africa continent and south Asian countries, is expecting 10 per cent growth in balance sheet this fiscal, an official said on Friday.A
Noida Autbority's Rs 5,827-cr budget for 2019-20
The Noida Authority on Friday announced its annual budget for 2019-20 at Rs 5,827 crore, up from last fiscal's Rs 4,900 crore. The authority also announced releasing its share in the funding for the upcoming international airport at Jewar, according to an official statement released after its 196th board meeting here. "The board has also approved the proposal for providing 10-per cent developed plots, maximum to the size of 450 square metres, to farmers. We will send the proposal to government for its final approval," the official added. "The authority has given an in principle approval for releasing funds of Rs 1,069.50 crore for the construction of Noida International Green Field Airport at Jewar. The funds will be used for land acquisition and providing compensation to farmers, lands of whom have been acquired by the authority for construction of the airport project," it said. The Uttar Pradesh government and the Noida authority will contribute Rs 1,500 crore each as their stake in
India-EU FTA not possible without India cutting car tariffs: EU Ambassador
The proposed India-EU free trade agreement (FTA) cannot be finalised without an Indian commitment to lower import duties on cars and car parts since this is a politically sensitive issue in the European Union (EU), the EU Ambassador to India Tomasz Kozlowski said here on Friday.