Page 802 - Business Finance
Vietnamese carriers sign USD 21 bn in aviation deals with US firms
Vietnamese carriers signed aviation deals with US firms worth USD 21 billion on Wednesday as President Donald Trump met with top business leaders in Hanoi ahead of his summit with North Korea's Kim Jong Un. Budget carrier Vietjet will buy 100 Boeing 737 jets worth USD 12.7 billion, the airline said, while startup carrier Bamboo Airways signed a deal for 10 787 Boeing Dreamliners for USD 3 billion. State carrier Vietnam Airlines signed a USD 100 million maintenance contract with Sabre Corporation. "These deals will support more than 83,000 American jobs and provide increased safety and reliability for Vietnamese international travellers," a senior White House official said after the deals were signed in the Vietnamese capital. Trump has decried a gaping trade gap with Vietnam and urged the communist country to buy more American goods. Vietnam's booming aviation sector has sparked demand for more planes and equipment, with several carriers jostling for dominance of the fast-growing air .
GMR Airports as highest bidder for greenfield airport in Andhra Pradesh
GMR Airports Limited (GAL) has emerged as the highest bidder for development, operations and management of a greenfield international airport at Bhogapuram in Andhra Pradesh on a public-private partnership basis.The initial investment for phase one is estimated at Rs 2,300 crore, GAL's parent company GMR Infrastructure informed stock exchanges on Wednesday. The initial capacity in phase one will be six million passengers per annum.Andhra Pradesh Airports Development Corporation Limited (APADCL) had initiated the request for proposal process in November 2018. The project involves design, build, finance, construction, development, up-gradation, modernisation, operation and maintenance of the airport for a period of 40 years.As part of the qualification process, APADCL shortlisted seven applicants: GMR Group, GVK, Dolt Infra, I-Investment, NIIF, Essel and Reliance Infra. However, only GMR Group, GVK and Dolt Infra submitted their financial bids.In calendar year 2018, the existing civil ..
BHEL pays 40% interim dividend for fiscal 2018-19
Engineering major Bharat Heavy Electricals Limited (BHEL) has paid an interim dividend of 40 per cent for fiscal 2018-19.In value terms, this dividend paid amounts to Rs 279 crore. It is the highest total dividend in a single year during the past five years.With this, the company has maintained its track record of rewarding investors by paying dividends uninterruptedly for over four decades, BHEL informed stock exchanges on Wednesday.A cheque of Rs 176 crore towards the interim dividend for the year 2018-19 on the equity (63.17 per cent) held by the government was presented here to Union Minister of Heavy Industries and Public Enterprises Anant G. Geete by BHEL Chairman and Managing Director Atul Sobti in the presence of Secretary at the Department of Heavy Industries A.R. Sihag.Accelerating the growth momentum, BHEL has reported a surge in revenue and profitability up to the third quarter of FY 2018-19. The company has delivered a resilient performance due to adoption of strategic ...
FDCI forging ahead to take fashion on 'greener path': Sunil Sethi
The Fashion Design Council of India (FDCI) is set to take fashion on a greener path by getting on board Aditya Birla Group's LIVA as an associate sponsor of the Lotus Makeup India Fashion Week (LMIFW) autumn-winter 2019.
Sensex drops below 36,000 on geopolitical concerns
Domestic stocks reversed intraday gains to hit day's low in negative zone amid geo-political concerns. At 12:25 IST, the barometer index, the S&P BSE Sensex, was down 102.72 points or 0.29% at 35,870.99. The Nifty 50 index was down 40.60 points or 0.37% at 10,794.70. Intraday volatility was high. The Sensex was currently trading below the psychological 36,000 level after moving above and below that level in intrday trade.
Anjani Portland Cement Ltd leads gainers in 'B' group
TCPL Packaging Ltd, Cubex Tubings Ltd, E-Land Apparel Ltd and Hindustan Fluoro Carbons Ltd are among the other gainers in the BSE's 'B' group today, 27 February 2019.
Corporation Bank, Allahabad Bank, Dhanlaxmi Bank jump up to 10 pc post RBI move
Shares of Corporation Bank, Allahabad Bank and Dhanlaxmi Bank rose sharply by up to 10.10 per cent Wednesday after the RBI lifted lending curbs on these lenders by removing them from its weak-bank watchlist. State-owned Corporation Bank zoomed 10.10 per cent, Allahabad Bank climbed 8.20 per cent while private sector Dhanlaxmi Bank jumped 10 per cent. The RBI Tuesday removed the three banks from its Prompt Corrective Action (PCA) framework. In a statement, the RBI said the Board for Financial Supervision (BFS) reviewed the performance of banks under PCA and noted that the government has infused fresh capital on February 21 into various banks including some of the banks currently under the PCA framework. Capital infusion, the RBI said, has shored up their capital funds and also increased their loan loss provision to ensure that the PCA parameters were complied with. "Accordingly, based on the principles adopted by the BFS in its earlier meeting dated January 31, 2019, it was decided in .
Linde India Ltd leads gainers in 'A' group
Corporation Bank, Lakshmi Vilas Bank Ltd, PC Jeweller Ltd and Allahabad Bank are among the other gainers in the BSE's 'A' group today, 27 February 2019.
Indices off day's high
Key indices trimmed gains in mid-morning trade. At 11:27 IST, the barometer index, the S&P BSE Sensex, was up 87.28 points or 0.24% at 36,060.99. The Nifty 50 index was up 22.50 points or 0.21% at 10,857.80. Capital goods stocks edged higher.
Three PSU banks rise after RBI removes lending curbs
Allahabad Bank, Corporation Bank and Dhanlaxmi Bank advanced at 11:50 IST on BSE after the Reserve Bank of India permitted these banks to exit the prompt corrective action framework.
Sensex zooms 346 points at 36,324 in morning trading, Nifty at 10,933
Equity benchmark indices extended gains in early trading on Wednesday following positive global cues, but investors continued to closely monitor the tension between India and Pakistan.At 11:15 am, the BSE S & P Sensex was up nearly 346 points to 36,324 while the NSE Nifty inched up 97.5 points at 10,933 level.Sun Pharma, Yes Bank, Bajaj Auto, JSW Steel and Axis Bank traded higher but Wipro, TCS, Infratel, GAIL and HCL Tech were in the negative territory.The most active stocks were Yes Bank, Axis Bank, Reliance Industries, Tata Consultancy Services and Maruti.Meanwhile, Asian markets were mostly in the green as investors waited to see if the United States and China can clinch a trade deal on tariffs. Investors were also keeping an eye on the US-North Korean summit which begins in Hanoi later on Wednesday.On Tuesday, US Federal Reserve Chairman Jerome Powell reinforced the US central bank's shift to a more 'patient' approach on policy in the face of a slowing economy.
Board of Hindustan Foods approves fund raising through issue of convertible warrants
At meeting held on 27 February 2019
Zinc futures shed 0.53% on profit-booking
Zinc futures Wednesday fell 0.53 per cent to Rs 195.90 per kg as speculators booked profits amid low demand at the domestic spot markets. At the Multi commodity Exchange, zinc for delivery in far-month April eased by Rs 1.05, or 0.53 per cent, to Rs 195.90 per kg in a business turnover of 233 lots. The metal for delivery in current month also fell by 90 paise, or 0.50 per cent to Rs 196 per kg in 1,548 lots. Marketmen said trimming of positions by participants to book profits amid low demand in the domestic spot market, kept pressure on zinc prices in futures trade.
Gold remains up in futures trade
Gold prices rose by another Rs 19 to Rs 33,247 per 10 gram in futures trade Wednesday as speculators indulged in enlarging positions even as the precious metal weakened overseas. At the Multi Commodity Exchange, gold to be delivered in March rose by Rs 19, or 0.06 per cent, at Rs 33,247 per 10 gram in business turnover of 1,273 lots. Analysts said raising of bets by participants influenced gold prices at futures trade but a weak trend overseas, capped the gains. Globally, spot gold fell 0.11 per cent to USD 1,328 an ounce in New York.
Silver futures up 0.06%
Continuing its upward march, silver prices edged higher by 0.06 per cent to Rs 40,078 per kg in futures trade Wednesday as speculators widened their positions despite weak global cues. At the Multi Commodity Exchange, silver for delivery in March up Rs 24, or 0.06 per cent to Rs 40,078 per kg in business turnover of 1,209 lots. Similarly, the white metal for delivery in February gained Rs 22, or 0.05 per cent, to Rs 40,085 per kg in 1,345 lots. The rise in silver prices at futures trade was mostly attributed to raising of positions by participants but a weak trend in global markets, limited the gains. Globally, spot silver shed 0.22 per cent to USD 15.95 an ounce in New York.
Nickel futures up 0.11% on spot demand
Nickel futures traded 0.11 per cent higher at Rs 914.90 per kg on Wednesday after traders enlarged positions amid pick up spot demand at the domestic markets. At the Multi Commodity Exchange, nickel for delivery in February rose Re 1, or 0.11 per cent, to Rs 914.90 per kg in business turnover of 1,273 lots. Market analysts attributed the rise in nickel futures to widening of positions built up by participants following rising demand from alloy-makers in the physical market.
BEML jumps after order win
BEML rose 2.91% to Rs 848.30 at 11:06 IST on BSE after the company said it received contract worth about Rs 400 crore for 7 metro train sets of 6 cars configuration to augment the metro services in Bengaluru.
Volumes spurt at Zydus Wellness Ltd counter
Zydus Wellness Ltd registered volume of 35544 shares by 10:47 IST on BSE, a 141.23 fold spurt over two-week average daily volume of 252 shares
BEML bags order worth Rs 400 cr for Bengaluru metro
State-run BEML Wednesday said it has bagged an order worth Rs 400 crore to augment the metro services in Bengaluru. "BEML has received a contract for seven metro train sets of six cars configuration to augment the metro services in Bengaluru valued around Rs 400 crore," the company said in a regulatory filing BEML manufactures rail coaches and spare parts and mining equipment at its Bengaluru complex. The company operates under three major business verticals -- mining and construction, defence and rail and metro. The three verticals are serviced by nine manufacturing units located at Bengaluru, Kolar Gold Fields (KGF), Mysore, Palakkad and Subsidiary - Vignyan Industries, in Chikmagalur District. Shares of BEML were trading 3.05 per cent higher at Rs 848.95 apiece on BSE.
ZTE Wins the 2018 Global 5G Infrastructure Technology Leadership Award
/ -- ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise, and consumer technology solutions for the Mobile Internet, today was presented the 2018 Global 5G Infrastructure Technology Leadership Award at Mobile World Congress 2019 by Frost & Sullivan for being a leading provider of 4G, Pre5G, and 5G infrastructure systems, equipment, and devices. ZTE Wins the 2018 Global 5G Infrastructure Technology Leadership Award Each year, Frost & Sullivan presents the Technology Leadership Award to companies that demonstrate leadership in developing and leveraging new technologies that offer significant customer value. ZTE established its leadership in 5G by investing heavily in 5G standardization and product R&D, and subsequently deriving profound insights into 5G technologies. Working in 5G deployment for years, ZTE has launched a series of commercially oriented all-band 5G AAU, 5G transport, 5G core network, 5G devices, and other ..