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Indian Economy On Healthy Medium Term Growth Trajectory Says BHP Billiton
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Sensex falls for 9th straight session, ends 146 pts lower
Extending its fall for the ninth consecutive session, the BSE Sensex gave up early gains to end 146 points lower Tuesday, dragged down by IT stocks amid strong foreign fund outflows. Lacklustre cues from other Asian and European markets too weighed on investor sentiment, analysts said. After a 489-point intra-day swing, the 30-share index settled 145.83 points, or 0.41 per cent lower at 35,352.61. The broader NSE Nifty fell 36.60 points, or 0.34 per cent, to 10,604.35. TCS and Infosys were the top losers in the Sensex pack, falling up to 3.39 per cent. Other losers were NTPC, IndusInd Bank, Hero MotoCorp, HDFC, Bajaj Auto, HCL Tech, HUL, Maruti and PowerGrid, shedding up to 2.34 per cent. On the other hand, Vedanta, ICICI Bank, ONGC, M&M, L&T, Tata Steel, SBI, Bajaj Finance, Bharti Airtel and ITC were among the gainers, rising up to 3.38 per cent. Sectorally, BSE IT index lost the most, shedding 2.09 per cent, followed by power and utilities. "The fall was mainly due to the ...
Australia Market gains on US-China deal hopes
Risk appetite buying supported on hopes for a trade deal between the United States and China, as the world's two largest economies will resume talks in Washington later in the week. Top-level officials from the world's two biggest economies will reconvene in Washington after a series of negotiations in Beijing last week, with the US side telling Donald Trump they had been "very productive".
Japan Nikkei ends tad higher
Japanese stocks opened slightly lower and moved narrowly around the previous day's closing level throughout the day amid the absence of fresh trading cues, while investors locked in recent gains after the Nikkei hit a two-month high on Monday. Buying slightly gained the upper hand later on hopes for a trade deal between the United States and China, as the world's two largest economies will resume talks in Washington later in the week.
Mahagun to invest Rs 600-cr on commercial project in Greater Noida
Realty firm Mahagun Group will invest over Rs 600 crore in the next four years to develop a commercial project in Greater Noida West near here, a company official said. It will develop around 12 lakh square feet of commercial area comprising hotel, multiplex and retail and office spaces. The new commercial project named Mahagun Marina Wwalk would be developed with an investment of over Rs 600 crore, said Mahagun Group Director Amit Jain. The project will be developed on an area of 18,694 sq metres and will have a built-up area of 11.6 lakh sq ft. The company plans to sell about 4.3 lakh sq ft area and retain the rest. "With the growing residential population in Greater Noida West (UP), the need for retail and shopping is ever increasing. Hence, we felt this is the right time to launch a project like Marina Wwalk. By the time the project is ready, the region's population would be double or even more," Jain said. Greater Noida West is turning into a hub for residential and commercial ...
Gold prices jump Rs 230 on positive global cues
Gold prices Tuesday rose Rs 230 to Rs 34,680 per 10 gram at the bullion market in the national capital on firm trend overseas, according to the All India Sarafa Association. Besides, silver rose by Rs 100 to Rs 41,350 per kg, supported by increased offtake by industrial units. Traders said firm trend overseas influenced the sentiment in the domestic market leading to advancement in the prices of the yellow metal. However, subdued demand from local jewellers capped the gain in the gold prices, they added. Globally, gold was trading higher at USD 1,323.30 an ounce, while silver was up at USD 15.75 an ounce. On Monday, the Delhi bullion market remained closed in the wake of a terror attack on Central Reserve Police Force (CRPF) personnel. In the national capital, gold of 99.9 per cent and 99.5 per cent purities jumped by Rs 230 each to Rs 34,680 and Rs 34,530 per 10 gram, respectively. Sovereign gold, on the other hand, continued to rule flat at Rs 26,400 per piece of 8 gram. Silver ...
TCS partners Nanoheal to provide self-healing device management solutions
Indian IT bellwether Tata Consultancy Services (TCS) on Tuesday announced its partnership with Bengaluru-based predictive workspace automation provider Nanoheal to facilitate enterprises' cognitive and self-healing end-user device management solutions.
Grasim advances after acquisition of chlor-alkali business
Grasim Industries rose 2.58% to Rs 718.30 at 15:18 IST on BSE after the company announced acquisition of the Chlor-Alkali Business of KPR Industries (India).
Sensex, Nifty end lower after roller coaster session
Key equity benchmarks erased intraday gains and ended with losses amid high volatility. The barometer index, the S&P BSE Sensex, fell 145.83 points or 0.41% to 35,352.61, as per the provisional closing data. The Nifty 50 index fell 36.60 points or 0.34% to 10,604.35, as per the provisional closing data. The Nifty reversed gains after touching 10,700 mark in mid-afternoon trade.
ABB India wins order worth Rs 270 cr from Indian Railways
The converters are custom designed for Indian Railways and will be manufactured at one of ABB's largest factories for locomotive applications in Nelamangala, near Bengaluru, in Southern India.
Global shares slip from four-month high, Swedish crown slumps
LONDON (Reuters) - European and Asian shares hovered near four-month highs on Tuesday as investors took heart from some progress in Sino-U.S. trade talks, while the yen dribbled lower as Japan's central bank said it could ease policy again.
Honda to close only EU factory
Japanese carmaker Honda announced on Tuesday that it was closing its only manufacturing unit in the European Union (EU) that employs 3,500 people.
Overseas investors shy away from Asian bond markets in January
(Reuters) - Foreign flows into emerging Asian bonds turned negative for the first time in four months in January, data showed, suggesting that a shift away from a tightening bias for regional central banks is dimming the attraction of its debt.
63 Moons filing Rs 10,000 crore damage suits against Chidambaram, two others
63 Moons -- formerly known as Financial Technologies India Limited -- has been facing continuous targeted and mala fide actions in the wake of a payment default crisis at one of its subsidiaries, the National Spot Exchange Limited (NSEL).Company Chairman Venkat Chary said despite the fact that there is no money trail traced to NSEL, 63 moons and its founder, the group has been singularly targeted as part of a conspiracy. "On account of these malicious actions perpetrated against the company, a damage of Rs 10,000 crore has been caused to its shareholders," he informed stock exchanges. Chary said 63 Moons has taken a serious note of the role played by three individuals: former Finance Minister P Chidambaram, former Additional Secretary K P Krishnan and former Chairman of the Forwards Markets Commission (FMC) Ramesh Abhishek.The company firmly believes about their proactive roles in perpetrating the crisis and destroying the exchange ecosystem to favour the competitor National Stock ...
Bajaj Finance announces winners of 'EON'
Bajaj Finance, India's leading non-banking financial services company, had recently launched a gamified campus competition 'EON' to engage bright young minds and encourage them to build a career in BFSI. The focus of EON was to give an opportunity to the students to understand the workings of an NBFC. Through this competition, Bajaj Finance encouraged students to come up with the most profitable ways of running the operations of an NBFC. EON was played in teams of three students each. In this competition, participants had to build their own NBFC with two sales and one credit officer. The teams needed to grow their business by lending to the right customers at the right interest and stay profitable. The game was played over four quarters (modelling of a financial year) and across three different product categories. The teams had to take the right decisions of selecting & approving the right customers and earn individual incentives. The team with the most profitable NBFC at the ...
Soybean futures gain 0.91 per cent on upbeat demand
Soybean prices were higher by 0.91 per cent at Rs 3,862 per quintal in futures trade Tuesday after traders raised their bets in tune with upbeat overseas leads. Marketmen said widening of portfolios by investors, taking positive cues from global markets, mainly gave push to soybean prices at futures trade here. At the National Commodity and Derivatives Exchange, soybean for the most active delivery in April went up by Rs 35, or 0.91 per cent, to Rs 3,862 per quintal having an open interest of 84,740 lots. Similarly, the delivery for May contracts edged up by Rs 31, or 0.8 per cent, to Rs 3,899 per quintal with an open interest of 39,930 lots.
UK wage growth matches decade high, jobs creation strong as Brexit nears
LONDON, (Reuters) - British workers' pay growth held at its fastest pace in a decade in late 2018 and job creation remained strong, official figures showed on Tuesday, suggesting the labour market was staying buoyant ahead of Brexit.
HSBC warns on China, UK slowdowns as 2018 profit disappoints
HONG KONG/LONDON (Reuters) - HSBC warned it may have to delay some investments this year as Europe's biggest bank missed 2018 profit forecasts due to slowing growth in its two home markets of China and Britain.
Government to sell three SAIL plants
The government has decided to give a push to its strategic disinvestment plan within the current fiscal year itself by clearing sale of 100 per cent stake in three special steel producing units of Steel Authority of India Ltd. (SAIL), including Salem Steel and Alloy Steel Plant.
Kaveri Seed Company Ltd leads losers in 'A' group
Navkar Corporation Ltd, Reliance Power Ltd, Kwality Ltd and Wipro Ltd are among the other losers in the BSE's 'A' group today, 19 February 2019.