Page 818 - Business Finance
Sensex, Nifty opens higher; Realty stocks up 2%
The benchmark Sensex advanced over 100 points after opening in the green on Monday following optimism in the Asian markets amid signs of easing trade tension between the US and China.
Mahindra launches e-mobility service in Mumbai
Auto major Mahindra & Mahindra (M&M) Monday said it has launched a technology-based electric mobility service in Mumbai on select routes. As part of the initiative - Glyd - the company flagged off the first batch of 10 e-Veritos in the city. "The company has from time to time provided innovative and first of its kind e-mobility solutions. Glyd is one such flagship premium e-mobility solution to redefine the in-commute experience of daily commuters," M&M Managing Director Pawan Goenka said in a statement. This is the company's unique step to drive positive change towards a smart, sustainable and experiential daily commute, he added. "Going forward we plan to launch multiple e-mobility solutions, across cities," Goenka said. Glyd will offer a premium in-commute experience to office going executives, powered by several connected car features such as web-conferencing, curated entertainment and music content from selective partners. Besides, it will also offer features like ...
Realty shares advance after GST rate cut
Shares of 16 real estate shares rose by 0.22% to 10.99% at 9:50 IST on BSE after the GST Council slashed tax rates for houses in both affordable and non-affordable segments.
Sensex jumps over 100 pts, Nifty above 10,800 level
Stocks staged a strong comeback in early trade Monday, with the BSE Sensex reclaiming the 36,000-mark by surging over 100 points on heavy foreign fund inflows and increased buying by domestic institutional investors. Asian markets were also trading in the green after US President Donald Trump announced extension of the March 1 deadline for increasing tariff on import of Chinese products, as talks between the two sides were making "substantial progress". The 30-share Sensex rose 140.29 points, or 0.38 per cent, to 36,011.77 in early trade. The gauge had lost 26.87 points Friday. The broad-based NSE Nifty also rose 32.50 points, or 0.30 per cent, to 10,824.15. Major gainers that supported the recovery on both bourses were Tata Steel, Tata Motors, Vedanta, RIL, HDFC Bank, Infosys, TCS, M&M, Hero MotoCorp IndusInd Bank, Maruti Suzuki, HCL Tech, Bajaj Auto, HDFC, HUL and Sun Pharma, rising up to 1.13 per cent. Sentiments also got a boost after the GST Council Sunday slashed tax rates ..
Adani Ports & Special Economic Zone Ltd Falls 5.37%, S&P BSE India Infrastructure index Drops 1.2%
Adani Ports & Special Economic Zone Ltd has lost 10.57% over last one month compared to 2.64% fall in S&P BSE India Infrastructure index and 0.23% drop in the SENSEX
Trump delays tariff increases on China, to meet Xi
US President Donald Trump has delayed the March 1 deadline to increase American tariffs on Chinese goods and said that he would be planning a summit with his Chinese counterpart Xi Jinping at his Florida resort to finalise a trade agreement.
Jet Airways (India) grounds two more aircrafts on non payment of dues
The Company is also making all efforts to minimize disruption to its network due to the above and is proactively informing and re-accommodating its affected guests. The Company also continues to provide required and periodic updates to the Directorate General of Civil Aviation in this regard.
Jubilant Life Sciences' subsidiary proposes to issue unsecured bonds outside India
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Rupee gains 16 paise against US dollar in early trade
The rupee firmed 14 paise to 70.98 against the dollar in opening trade Monday after the greenback came under pressure against some currencies amid foreign fund inflows and a higher opening of domestic equity markets. Forex dealers said weakness in the dollar against some other currencies overseas as expectations of a trade deal between the US and China, and foreign capital inflows in the domestic equity markets supported the rupee. At the interbank forex market, the rupee opened with strength at 71 and advanced further to quote 16 paise higher at 70.98 against the dollar. According to provisional exchange data, foreign portfolio investors (FPIs) bought shares worth a net of Rs 6,311.01 crore on net basis on Friday. On Friday, the rupee had gained 10 paise to end at 71.14 against the US dollar. Meanwhile, the benchmark BSE Sensex rose 140.29 points, or 0.38 per cent, to 36,011.77 in opening session Monday.
How India and Vietnam can increase bilateral trade
Singapore, Feb 25 (ANI): Vietnam is India's fourth largest trading partner in Association of South East Asian Nations (ASEAN)- the first three being Singapore, Indonesia and Malaysia. The India-Vietnam trade has been consistently growing- clocking double-digit rates. It has grown almost 80 per cent over the last five years.India is among Vietnam's top ten trading partners.Data from the Indian Department of Commerce shows that trade between India and Vietnam grew 11.5 per cent to USD 14.2 billion in 2018 compared with a year ago. The two countries targeted bilateral trade to hit USD 20 billion by 2020 in 2015. This now seems a little bit of a stretch considering the compounded annual rate of growth since 2013 was 12 per cent and for this to happen, it will have to grow at around 19 per cent per year in the next two years.It should not be a surprise that Vietnam and India currently enjoy strong diplomatic and trade relations. The strong ties date as far back as to the cold war days of ..
Chinese yuan jumps 20 basis points against US dollar
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 20 basis points to 6.7131 against the US dollar on Monday, according to the China Foreign Exchange Trade System.
Trump postpones tariff hike on Chinese imports
President Donald Trump on Sunday announced that he was "delaying" raising tariffs on hundreds of Chinese import products, a hike that had been scheduled for March 1, due to the "substantial progress" being made in the bilateral trade talks being held in Washington.
US to delay China tariff increase: Trump
The United States is delaying a planned increase of tariffs on more than USD 200 billion in Chinese exports after "substantial progress" made in trade talks, President Donald Trump said Sunday. Trump also said he planned to hold a summit with Chinese President Xi Jinping at his Florida estate Mar-a-Lago to ink a deal. "I am pleased to report that the US has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues," Trump wrote on Twitter. "As a result of these very productive talks, I will be delaying the US increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for US & China!" Trump had already expressed optimism about the negotiations Friday after meeting with China's vice ...
Very good weekend for US, China: Trump delays tariff increase on Chinese imports
US President Donald Trump on Sunday (local time) announced that he would be delaying the increase of tariffs on Chinese imports, originally scheduled to come into effect from March 1.He also announced that "assuming both sides make additional progress," a summit with his Chinese counterpart Xi Jinping would be held at Mar-a-Lago to conclude an agreement which would bring the trade imbalance between the nations to an end. The US President hailed the recently-concluded trade talks between Washington and Beijing and outlined that "substantial progress" had been made on a variety of issues."I am pleased to report that the US has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues," Trump tweeted on February 24 (local time)."As a result of these very productive talks, I will be delaying the US increase in tariffs now scheduled for March .
National Real Estate Development Council lauds GST rate cut
National Real Estate Development Council lauded the Goods and Services Tax rate cut on real estate announced on Sunday.The council's national president Niranjan Hiranandani said, "Industry lauds the GST rate cut on real estate to 5 per cent on non-affordable and 1 per cent on affordable housing without the input tax credit. This will bring big relief to the home buyers."However, he added that the rate on cement was expected to get reduced but that did not happen.Hiranandani added, "The GST rate on cement has not been reduced as was expected, at 28 per cent it remains among the highest taxed inputs for construction."In an attempt to give a boost to the real estate sector, the GST Council on Sunday decided to reduce the tax on affordable housing properties without input tax credit to one per cent.The effective GST of 5 per cent shall be applicable without ITC on residential properties outside the affordable segment, which was also decided by the GST Council at its 33rd meeting.According
Vivendi backs Telecom Italia, Open Fiber network merger under right conditions
MILAN (Reuters) - Telecom Italia's (TIM) main shareholder Vivendi said on Sunday it would back a merger of the fixed-line networks of TIM and rival Open Fiber if conditions were right, while renewing its attack on U.S. activist fund Elliott.
Nippon Steel aims for output near 11 million tonnes a quarter for 2019-20
TOKYO (Reuters) - Japan's top steelmaker Nippon Steel & Sumitomo Metal aims to boost crude steel output to nearly 11 million tonnes a quarter in the year from April 1, after system troubles cut production and its profit outlook this year, a senior executive said.
Vietnam's Bamboo Airways to buy 10 Boeing planes during Trump-Kim summit
HANOI (Reuters) - Vietnamese carrier Bamboo Airways will sign a deal with Boeing Co to purchase 10 planes on the sidelines of this week's Trump-Kim summit, an airline executive said on Sunday.
GST cut will boost housing, input tax credit to sting, say industry, experts
The housing industry on Sunday hailed the decision of the GST council to lower tax on under-construction housing properties to 5 per cent from 12 per cent, and on affordable housing to 1 per cent from 8 per cent.
Trump raises hopes of trade deal on final day of U.S.-China talks
WASHINGTON (Reuters) - U.S. President Donald Trump on Sunday raised hopes that the United States and China would settle their trade dispute ahead of a March 1 deadline as negotiators met to wrap up the latest round of talks.