Page 81 - Business Finance
Soybean futures up Rs 15 on upbeat demand
Soybean prices rose by Rs 15 to Rs 3,651 per quintal in futures trade Tuesday after traders raised their bets following positive overseas leads. Marketmen said widening of portfolios by investors who tracked positive global cues supported soybean prices. On the National Commodity and Derivatives Exchange, the most-active July contract of soybean rose by Rs 15 or 0.41 per cent to Rs 3,651 per quintal with an open interest of 1,09,700 lots. The contract for delivery in August was trading lower by Rs 9 or 0.25 per cent to Rs 3,672 per quintal with an open interest of 17,740 lots. Soyabean contracts firmed up in Chicago on expectations of low yields and lower than expected sown area in the US.
DDA gets about 50K applications for new scheme; sharp fall from 2014 figures
The DDA has received about 50,000 applications for its new online housing scheme, with authorities Tuesday attributing the poor response to bulk of the flats being located in Narela area in outer Delhi, among other factors. The deadline to apply for the Delhi Development Authority's online scheme 2019, which was launched in March, ended on June 10. "As far as the number of applications received is concerned, we are getting data from different banks. We haven't arrived at the final figure yet, but the figure as of now is about 50,000," DDA's vice-chairman Tarun Kapoor said. The scheme is for sale of nearly 18,000 newly built flats in Delhi's Vasant Kunj and Narela residential areas. Asked about factors that could have led to poor response from people, Kapoor, said, "Bulk of out flats are located in Narela, which is an upcoming area in outer Delhi. So, that was one factor, perhaps." "And, secondly, the market has also been low, so, this could have also affected the decision of people," .
Silver prices fall by Rs 16 per kg on profit-booking
Silver prices fell by Rs 16 to Rs 36,525 per kg in futures trade Tuesday amid profit-booking by speculators. At the Multi Commodity Exchange, silver contracts for July delivery dipped by Rs 16, or 0.58 per cent, to Rs 36,525 per kg, clocking a business volume of 23,663 lots. The white metal contracts for September delivery also traded lower by Rs 86, or 0.23 per cent, to Rs 36,969 per kg in 6,106 lots. Marketmen said profit-booking at prevailing levels led to the fall in silver prices at futures trade here. In the international market, silver rose 0.04 per cent to USD 14.65 an ounce in New York.
Indiabulls Integrated Services Ltd leads losers in 'A' group
Jet Airways (India) Ltd, Indiabulls Housing Finance Ltd, Indiabulls Real Estate Ltd and Lakshmi Vilas Bank Ltd are among the other losers in the BSE's 'A' group today, 11 June 2019.
Bharat Dynamics sizzles after order win
Bharat Dynamics was up 3.01% to Rs 294.45 at 14:40 IST on the BSE, after the company announced that it has received an order for supply of heavy weight torpedoes.
French Railways to develop Indian railway stations
India and France have signed an agreement under which the French Railways will help develop Indian railway stations.
Crude oil futures fall Rs 11 on weak global cues
Crude oil futures dropped by Rs 11 to Rs 3,743 per barrel Tuesday as speculators cut bets despite an upbeat trend overseas. On Multi Commodity Exchange, crude for delivery in June contracts dropped by Rs 11, or 0.29 per cent, to Rs 3,743 per barrel in 19,759 lots. Marketmen said investor sentiment in crude futures market dampened after oil prices fell in global markets. Brent crude futures were trading 0.42 per cent lower at USD 62.03 per barrel.
ILSS gets funding from ATE Chandra Foundation
India Leaders for Social Sector (ILSS), a Gurgaon-based non-profit has received an undisclosed amount as funding from ATE Chandra Foundation (ATECF), the philanthropic foundation of Archana and Amit Chandra. The grant will be used towards building organisational capacity at ILSS, which seeks to strengthen leadership for the country's social sector.Amit Chandra, Chairman at Bain Capital India, is a leading Indian philanthropist and a founder/board member of Ashoka University and a board member of Give India and the Akanksha Foundation, among his other associations with Non-profits and foundations. Archana Chandra is the CEO of Jai Vakeel Foundation and Research Centre, one of the largest NGOs serving intellectually challenged children. The Chandras featured in the Forbes 'Asia's Heroes of Philanthropy' list in 2016.ILSS, incubated by the Ashish Dhawan-founded Central Square Foundation in September 2017, specifically focuses on enabling senior corporate executives to transition to the ..
Lead futures edge up 0.05 pc on spot demand
Lead prices were trading higher by 0.05 per cent to Rs 155 per kg in futures trade Tuesday as speculators built-up fresh positions, driven by pickup in demand in the spot market. On the Multi Commodity Exchange, lead for delivery in current month edged higher by 5 paise, or 0.05 per cent to Rs 155 per kg in a business turnover of 4,369 lots. Market analysts said, fresh positions created by traders due to upsurge in demand by battery-makers in the physical markets, mainly helped lead prices to trade higher at futures trade.
Refined soya oil futures gain 0.3% on spot demand
Refined soya oil prices rose 0.3 per cent to Rs 746.5 per 10 kg in futures trade Tuesday as speculators raised their bets amid upsurge in demand at the spot market. On the National Commodity and Derivatives Exchange, refined soya oil for delivery in June contracts went up by Rs 2.25, or 0.3 per cent, to Rs 746.5 per 10 kg with an open interest of 16,270 lots. Similarly, the oil for delivery in July contracts was up by Rs 1.5, or 0.21 per cent, to Rs 731.4 per 10 kg with an open interest of 46,500 lots. Analysts said expansion of positions by traders on the back of pick-up in demand at the physical markets against fall in supplies from growing belts helped soybean oil futures to trade higher.
Zinc futures rise 1.05 pc on spot demand
Zinc prices rose by 1.05 per cent to Rs 206.10 per kg in futures trade Tuesday, tracking a firm trend at the physical market on the back of uptick in demand. On the Multi Commodity Exchange, zinc for June contracts was trading higher by Rs 2.15 or 1.05 per cent, at Rs 206.10 per kg with a business turnover of 5,504 lots. Marketmen said zinc prices rose as participants raised bets following a pickup in demand from consuming industries.
Milkbasket to invest Rs 10 cr to scale up biz; plans to set up 10 sourcing centres
Grocery delivery startup Milkbasket Tuesday said it will invest Rs 10 crore to scale up its fresh fruits and vegetable category as it aims to set up to 10 more fresh sourcing centres across the country. "The company aims to set up to 10 more collection centres in villages to promote right farming practices for better quality yield, maintain the cold chain to mitigate the food wastage and preserve the nutritional value of produce," it said in a statement. Also, direct farm sourcing coupled with direct sales to consumers results in cost effectiveness and no margin leakage to middlemen or other business to business players, the company added. "Following the success of Bakhtawarpur centre in Delhi which receives fresh produce from over 20 villages around the city, Milkbasket has shortlisted villages in Bangalore, Hyderabad, Nasik, Haryana, Himachal Pradesh and Uttar Pradesh for the next wave." Milkbasket Co-founder and CEO Anant Goel said the company will continue to invest significantly .
Gold prices remain muted in futures trade
Gold prices fell by Rs 96 to Rs 32,564 per 10 gram in futures trade Tuesday as speculators reduced exposure in the domestic markets. On the Multi Commodity Exchange, gold for delivery in August contracts traded lower by Rs 96, or 0.29 per cent, at Rs 32,564 per 10 gram in a business turnover of 16,222 lots. The gold for delivery in far-month October contracts also fell by Rs 94, or 0.29 per cent, to Rs 32,730 per 10 gram in 1,951 lots. Marketmen said the fall in gold prices in futures trade was mostly due to trimming of positions by participants. Globally, gold was trading up by 0.03 per cent at USD 1,329.70 an ounce in Singapore.
Reliance Group cleared Rs 35,000 cr debt in 14 last months: Anil Ambani
Reliance Group Chairman Anil Ambani on Tuesday said that the Group has cleared debt amounting to a staggering Rs 35,000 crore in the last 14 months."The Reliance Group has made aggregate debt servicing payments of over Rs. 35,000 crore in the 14 month period from April 1, 2018 till May 31, 2019. These comprise principal repayments of Rs. 24,800 crore and interest payments of Rs. 10,600 crore," a release quoting Ambani said.He said this amount included inter alia debt servicing payments by Reliance Capital Group, Reliance Power group and Reliance Infra Group, and their respective affiliates.Ambani said these payments have been made in the face of "insurmountable odds and the most challenging financial environment witnessed in the country in decades".He pointed out that during this entire period, lenders from all categories - whether banks, mutual funds, insurance companies, provident funds or NBFCs (non-banking financial companies) - have provided "ZERO net additional liquidity or debt
Government Of India Announces Sale Of Four Dated Securities For Rs 17000 crore
Powered by Capital Market - Live News
Average AUM Rises Marginally Over Month In May, SIP Inflows Show Slight Decline
Powered by Capital Market - Live News
Windsor Machines Ltd leads losers in 'B' group
Magnum Ventures Ltd, Ansal Properties & Infrastructure Ltd, SORIL Infra Resources Ltd and Kesar Enterprises Ltd are among the other losers in the BSE's 'B' group today, 11 June 2019.
Volumes jump at Gujarat Pipavav Port Ltd counter
Gujarat Pipavav Port Ltd witnessed volume of 27.14 lakh shares by 14:19 IST on NSE, a 24.14 times surge over two-week average daily volume of 1.12 lakh shares
E-commerce accounts for 23 pc of total warehouse leasing in 2018: CBRE
Leasing of warehousing space went up by over 45 per cent last year to cross 25 million sq ft in seven major cities, driven by e-commerce sector that accounted for 23 per cent of the total demand, according to property consultant CBRE. CBRE Tuesday released its report 'Online retail driving realty Elevating the e-commerce game' that examines the link between online retailing (e-tailing) and the logistics sector and the impact of GST on the leasing of warehousing spaces. Warehouse leasing crossed the 25 million sq ft mark in 2018 in seven major cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Hyderabad, Pune and Bengaluru, CBRE said, adding that the demand for better quality space resulted in rents rising by 10-25 per cent last year. "The impressive growth of the e-commerce sector has been on the back of favourable policy reforms, tech-enhanced warehouses, rising smartphone and internet penetration, digital India movement, amongst others," the report said. The growth in e-commerce sector
India's GDP growth overestimated by 2.5 pc, says Modi govt's former chief economic adviser
Arvind Subramanian, Narendra Modi government's former chief economic adviser, has deduced that India's economic growth rate has been overestimated by around 2.5 percentage points between 2011-12 and 2016-17 due to a change in methodology for calculating GDP. India's gross domestic product product (GDP) growth rate between this period should be about 4.5 per cent instead of the official estimate of close to 7 per cent, he said in a research paper published at Harvard University. "India changed its data sources and methodology for estimating real gross domestic product (GDP) for the period since 2011-12. This paper shows that this change has led to a significant overestimation of growth," he said in the paper. The paper comes amidst controversy over the country's economic growth under the new GDP series. The revision in the methodology happened during the first term of the Modi government. "Official estimates place annual average GDP growth between 2011-12 and 2016-17 at about 7 per ...