Page 845 - Business Finance
Market firms up; auto shares decline
The market firmed up and hit fresh intraday high in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 81.67 points or 0.23% at 35,837.93. The Nifty 50 index was up 25.70 points or 0.24% at 10,761.15.
Nifty, Sensex muted as heavyweights drag; state-run banks rise
(Reuters) - Indian share indexes were steady on Thursday, bucking a broader Asian rally, as a drop in IT heavyweights such as Infosys Ltd countered gains from financial stocks such as ICICI Bank Ltd.
Venezuela gets fuel from Russia, Europe but the bill soars
MEXICO CITY/MOSCOW/LONDON, Feb 21 (Reuters) - Venezuela is paying heavy premiums for fuel imports from Russia and Europe, with fewer than a dozen sellers seeing the risk as worth the reward after flows from the United States dried up because of sanctions, trading sources said and data showed.
Tech Mahindra to buy back shares at 14.59 pc premium for Rs 1,956 cr
IT firm Tech Mahindra Thursday announced a Rs 1,956-crore buyback of its shares at Rs 950 apiece, a 14.59 per cent premium over current trading price. The share buyback proposal has been approved by the company's board. The firm is proposing to buy back up to 2.05 crore (2,05,85,000) equity shares at a price of Rs 950 per equity share for an aggregate amount not exceeding Rs 1,956 crore, Tech Mahindra said in a regulatory filing. March 6, 2019, is the record date for the purpose of ascertaining the eligibility of shareholders to participate in the buyback, it added. The buyback offer price is 14.59 per cent higher than the current trading price of the stock at Rs 829 per share. Opening and closing dates of the buyback programme has not yet been announced. Cash-laden Indian IT firms have been returning surplus cash on their books to shareholders by way of dividends and buybacks. Earlier this year, Infosys had announced a buyback offer of Rs 8,260 crore. Persistent Systems' board had ...
Govt approves capital infusion of Rs 48239 crore in 12 PSBs
Capital infusion to support PCA as well as non-PCA banks
Volumes soar at Corporation Bank counter
Corporation Bank clocked volume of 3.58 lakh shares by 10:47 IST on BSE, a 15.05 times surge over two-week average daily volume of 23756 shares
Longer-dated JGBs gain as seasonal investor demand supports
TOKYO (Reuters) - Longer-dated Japanese government bond prices rose on Thursday, supported by steady demand from investors gearing up for the fiscal year-end.
Writer Relocations Acquires BTR International, a UK Based Corporate Relocation Company
/ -- Writer Relocations, a leading international moving services company in India, announced today that they have signed an agreement and completed the acquisition of BTR International, a UK-based provider of corporate relocation solutions, to bring quality assured global capability and relocation expertise to HR and mobility professionals seeking support in managing a global workforce. (Logo: https://mma.prnewswire.com/media/824353/Writer_Relocations_Logo.jpg ) Writer Relocations is an established player and has a strong presence in the Asia-Pacific and Middle East continents and this acquisition of BTR International will extend Writer Relocations' direct presence in Europe. On this occasion, Mr. Garfield de Souza, M.D., said, "In a constantly evolving market environment, staying ahead of the curve, and planning accordingly is key for business survival. The UK removals industry was forecasted to generate revenue of 1 billion in 2018 and this acquisition blends our domain expertise, .
Ecuador inks $4.2 billion financing deal with IMF: Moreno
QUITO (Reuters) - Ecuador has reached a $4.2 billion staff-level financing deal with the International Monetary Fund (IMF), President Lenin Moreno said on Wednesday, as the Andean country grapples with a large fiscal deficit and heavy external debt.
Bharat Petroleum Corporation to raise Rs 2000 crore
Through private placement of NCDs
Global Markets: Asia shares up on Fed outlook, Aussie dollar seesaws after jobs data
TOKYO (Reuters) - Asian shares pulled ahead to fresh 4-1/2-month highs on Thursday after the U.S. Federal Reserve affirmed it would be "patient" on further interest rate rises and as Sino-U.S. trade talks hinted of progress towards a deal in their tariff war.
Positive market breadth; PSU banks advance
Key equity indices were trading in a narrow range near flat line in morning trade. At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 23.29 points or 0.07% at 35,732.97. The Nifty 50 index was down 6.10 points or 0.06% at 10,729.35. Metal shares were in demand. Shares of PSU banks advanced.
Dynamatic Tech jumps after signing MoU with JSC
Dynamatic Technologies surged 11.71% to Rs 1,446.95 at 09:55 IST on BSE after the company signed a Memorandum of Understanding with Joint-Stock Company (JSC) Russian Helicopters on Ka-226T Helicopter.
State-run banks jump after government announces fund infusion
(Reuters) - Shares of India's state-run banks jumped on Thursday, a day after the government said it will inject 482.39 billion rupees ($6.79 billion) into some lenders as part of its recapitalisation programme.
Liechtenstein's LGT Group says impact investing arm's senior staff to leave
DUBAI/LONDON (Reuters) - Liechtenstein's LGT Group, owned by the country's ruling family, said its senior impact investment team were leaving the business unit as part of a shake-up of the financial firm's structure.
PC maker Lenovo's third-quarter profit beats expectations, powering share surge
HONG KONG (Reuters) - Lenovo Group, the world's largest personal computer maker, posted better-than-expected quarterly results and shrugged off the impact of a bruising Sino-U.S. trade war, sending its shares soaring 11 percent to three-year highs.
Sensex, Nifty start on a positive note; bank stocks jump
Benchmark indices started on a positive note Thursday tracking gains on banking counters, after the government announced infusion Rs 48,239 crore in 12 public sector banks, buying by foreign and domestic institutional investors, and positive global cues. The 30-share index was trading 8.47 points, or 0.02 per cent, at 35,764.73. Similarly, the 50-share NSE Nifty was trading 6.05 points, or 0.06 per cent, higher at 10,741.50. The Sensex had settled at 35,756.26, up 403.65 points, or 1.14 per cent in the previous session, while the broader NSE Nifty soared 131.10 points, or 1.24 per cent, to 10,735.45. Top gainers in the Sensex pack on Thursday include ICICI Bank, Vedanta, ONGC, SBI, HUL, Bajaj Finance, Tata Motors, Sun Pharma, HUL and Axis Bank, rising up to 2.23 per cent. On the other hand, Infosys, Yes Bank, Bharti Airtel, M&M, Coal India and HDFC Bank fell up to 1.28 per cent. According to traders, public sector bank stocks rose after the finance ministry on Wednesday announced .
Shriram Transport Finance raises USD 400mn from International Bond Markets
The Company engaged around 50 investors during an extensive deal roadshow across Singapore, Hong Kong and London. Backed by the strong investor feedback, the transaction was launched with an initial price guidance of 6.000% area. Following a strong book build supported by high quality real money investors, the Company was able to tighten pricing by 30bps to 5.70%.
Suzlon Energy Ltd Surges 1.92%
Suzlon Energy Ltd has lost 28.32% over last one month compared to 4.6% fall in S&P BSE Capital Goods index and 1.93% drop in the SENSEX
Rupee rises 9 paise to 71.02 vs US dollar
The rupee darted up 9 paise to 71.02 against the US dollar in early trade Thursday amid a reversal in foreign fund outflows even as oil prices hardened. At the Interbank Foreign Exchange (forex) market, the domestic unit opened slightly higher at 71.06 and built on the gains to reach 71.02. Snapping a four-session downturn, the rupee had appreciated by 23 paise to end at 71.11 against the US dollar Wednesday. Foreign institutional investors (FIIs), who had been heavy sellers over the past few sessions, net bought equities worth Rs 713.47 crore Wednesday, provisional data showed. Brent crude futures, the global oil benchmark, was trading 0.24 per cent higher at USD 67.24 per barrel. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.07 per cent to 96.52. Meanwhile, the benchmark BSE Sensex climbed 19.16 points, or 0.05 per cent, to trade at 35,775.42 in early trade Thursday.