Page 87 - Business Finance

Rupee pares gains, settles 19 paise lower against US dollar

The rupee surrendered all its early gains and closed 19 paise lower at 69.65 against the US dollar Monday amid strengthening of the greenback against Asian currencies and rising crude oil prices. At the interbank foreign exchange (forex), the domestic currency opened at 69.40 a dollar and gained further strength to touch a high of 69.38 during the day. The domestic currency, however, could not hold on to the gains and fell to 69.68. The rupee finally settled at 69.65 a dollar, down 19 paise over its previous close. The Indian unit had settled at 69.46 against the US dollar Friday. "Indian rupee was unable to hold the morning gains amid higher crude oil prices and stronger dollar against Asian currencies," said V K Sharma, Head-PCG & Capital Market Strategy, HDFC securities. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.34 per cent to 96.87. However, gains in domestic equities and foreign fund inflows supported the rupee and ...

Board of Worth Investment & Trading Co appoints CEO, CFO and CS

At meeting held on 10 June 2019

Sensex, Nifty extend gains; IT stocks steal the show

Benchmark indices Sensex and Nifty logged gains for a second straight session on Monday, mainly driven by IT stocks amid positive global cues after the US took trade tariffs off the table against Mexico. The BSE Sensex rose 168.62 points, or 0.43 per cent, to close at 39,784.52; and the NSE Nifty gained 52.05 points, or 0.44 per cent, to settle at 11,975.05. However, concerns pertaining to liquidity situation in the NBFC sector continued to hit overall market sentiments, pulling down financial stocks and benchmark indices. Top gainers in the Sensex pack were TCS, Bharti Airtel, Infosys, Axis Bank, L&T, ITC, PowerGrid, HCL Tech and Tata Steel, ending up to 2.39 per cent. On the other hand, Yes Bank, Tata Motors, Coal India and ONGC were among the top losers, falling up to 2.89 per cent. Sectorally, BSE teck, FMCG, telecom and consumer durables indices were among the top gainers, rising up to 1.61 per cent. On the other hand, BSE oil and gas, energy, finance and banking indices fell

Six mega trends driving nutritional and dietary changes in Asia, as per the latest EIU report - Food for Thought - Eating Better

Cargill along with Economist Intelligence Unit (EIU) released a report titled 'Food for Thought', as part of a five-part research series.This report highlights two sides of Asia's nutritional arc through examining dietary changes across the region and summarizing it in six megatrends - quality not quantity, urbanisation and income, obesity & micro nutrients, diverging outcomes, low nutritional awareness and advertising and social media, that are driving these trends.Social media will undoubtedly become a key form of communication between consumers and stakeholders in the food industry. Beyond driving trends, it is also likely to become a key channel for advertising and consumer engagement. Growing social media prominence will provide opportunities for companies in the food industry, but it is also likely to spur efforts to closely monitor and regulate this space.However, there are opportunities for stakeholders to address the above trends. Food fortification and reformulation ...

CII Calls For Multi Stakeholder Consultations Across Value Chain For Electric Vehicles

The Confederation Of Indian Industry (CII) has called for multi-stakeholder consultations across the value chain for Electric Vehicles with a special focus on affordability of consumers as India embarks on one of its strategic goals of transportation transition driven by energy choices. CII advocates a three-pronged strategy to make this transformational shift in transportation. Constructive Disruptions driven by market forces coupled with enabling policies is the kernel of any innovation and we are hopeful that the same is adopted as India readies itself for the advent of new technologies in mobility including electric vehicles, Vikram Kirloskar President CII stated. The government has recently announced a Mission on Transformation Mobility and Transmission to be led by NITI Aayog.

Google, US budget office seek Huawei ban reprieve

Google and the White House budget office are among the organisations that are seeking reprieve from ban on doing business with Chinese technology company Huawei, according to media reports.

Finance ministry mulling 3-5% tax in Budget on cash withdrawal of 10 lakh a year

Withdrawing a cumulative Rs 10 lakh a year can attract 3-5 per cent tax if a proposal going around in the Finance Ministry takes shape in the Budget to track high value cash deals and make digital payments mandatory.

Hero MotoCorp gets BS-VI certification for Splendor from ICAT

The country's largest two-wheeler maker Hero MotoCorp Monday said it has received BS-VI certification for Splendor iSmart motorcycle from International Centre for Automotive Technology (ICAT). The BS-VI emission norms compliant motorcycle has been designed and developed in-house at the company's R&D hub, the Centre of Innovation and Technology, in Jaipur, Rajasthan, Hero MotoCorp said in a statement. The company claimed it is the first vehicle manufacturer in the country to receive BS-VI certification for a two-wheeler. Having received the certification, it is now eligible to start manufacturing the certified model, it added. "With this, Hero MotoCorp has reaffirmed its commitment to be ready for the BS-VI transition much ahead of the April 1, 2020 deadline," it added. The two-wheeler major has the technological prowess for meeting BS-VI norms and will now be gearing up to make its large portfolio of motorcycles and scooters BS-VI compliant, it said. ICAT is the premier testing ..

Goa govt to launch digital agri platform soon: Sardesai

The Goa government will soon launch 'Agricloud', a digital platform for agriculture management and tracking of farm subsidies, the tender for which will be issued next month, Deputy Chief Minister Vijai Sardesai said Monday. Sardesai, also state agriculture minister, said Agricloud is a three-way interface that will allow his ministry to register farmers and track subsidies and inputs to them, while helping cultivators to get information on official advisories, weather, market prices among other things. "Work on the tender has been completed, including a go-ahead from the Information Technology department. Agricloud will create an e-commerce platform allowing farmers to sell directly to customers," he said. He said the move was part of the state's initiatives to fulfill the Centre's commitment to double farm income by 2022. The minister was speaking at the national conference of All India Agricultural Marketing Board Federation in South Goa.

Nifty June futures at premium

SBI, RIL and Yes Bank June 2019 futures most active

Quick Wrap: Nifty Media Index declines 1.69%

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PharmaLytica 2019 Makes a Splendid Debut in the Pharma hub of Mumbai

/ -- A premiere event catering to India's Analytical, Lab, Pharma Machinery & Ingredients industry UBM India, the organisers of CPhI / P-MEC India, the leading global pharma trade show and conference, hosted the 6th edition of PharmaLytica, for the first time in Mumbai, the epicentre of the pharma hub, especially in West India. The show was formerly held in Hyderabad. Organised at the Bombay Exhibition Centre, the three day event was inaugurated in the presence of an august industry gathering with representation from Mr. Pravin Mhapankar, President marketing, Thermolab ; Ms. Mayanki Gandhi, Senior Research Scientist, IIT Mumbai; Mr. Shehul Sheth, VP, Indian Pharma Machinery Manufacturer's Association ( IPMMA ); Mr. Yogesh Mudras, Managing Director, UBM India; Mr. Ritesh Modi, Director Finance, UBM India and Mr. Rahul Deshpande, Group Director, UBM India. (Logo: https://mma.prnewswire.com/media/675607/UBM_Logo.jpg ) (Logo: ...

Former interim MD&CEO of Yes Bank Ajai Kumar quits board

Ajai Kumar, a non-executive director of Yes Bank who served as the bank's interim MD and CEO for one month after Rana Kapoor's exit, has resigned from the board due to personal reasons, the lender said Monday. The mid-sized private lender had appointed Kumar, who had led state-run Syndicate Bank in the past, as its interim successor for a month till Ravneet Singh Gill from Deutsche Bank India took over from March 1. The Reserve Bank had last September asked Kapoor, co-founder and Managing Director and Chief Executive of Yes Bank, to leave office by January 31. "Ajai Kumar, Non-Executive (Non-Independent) Director of the Bank has tendered his resignation on June 9, 2019, with immediate effect due to personal reasons," Yes Bank said in a stock exchange filing. After Gill joined the bank, Kumar ceased to be an Interim MD & CEO of the bank. However, he continued as a non-executive non-independent director on the board of the bank. In recent past, the bank has seen several exits, ...

India among top destinations for London tech firms: Report

India is the fourth-ranked destination for London technology companies looking to expand outside of the UK over the past 10 years, behind Australia, Germany and the US, according to official data released on Monday. London & Partners, the Mayor of London's inward investment agency, also found that while London was the top city globally for tech foreign direct investment (FDI) over the past 10 years, Bangalore emerged in sixth place as a hub for tech companies looking to expand internationally ahead of the likes of New York City, Dublin, Shanghai and Beijing, according to the data released to mark the start of London Tech Week 2019. Between April 2009 and March 2019, Indian investments into London involved 36 projects by 22 Indian companies, with a capex of nearly 523 million pounds. India, while ranked fourth in terms of foreign direct investment (FDI) into London, created 5,310 jobs ahead of second-ranked Germany with 1,911 jobs and third-ranked Australia with 1,526 jobs. The ..

RPower shares end over 8 pc down post Q4 results; other group stocks tumble too

Reliance Power stock recovered most of its sharp early losses and settled over 8 per cent lower Monday as the company reported a loss of Rs 3,558.51 crore for the quarter ended March 31. After plunging 23.66 per cent to Rs 4.71 -- its 52-week low -- in intra-day trade on the BSE, shares of the company finally closed at Rs 5.75, down 6.81 per cent. At the NSE, shares dropped 8.13 per cent to close at Rs 5.65. The Anil Ambani Group firm Sunday reported a loss of Rs 3,558.51 crore for the quarter ended March 31, 2019 as against a profit of Rs 189.21 crore in the year-ago period. In a filing to the BSE, Reliance Power said the board in its meeting on June 8 approved the audited financial results for the quarter and financial year ended March 2019, and also approved raising resources by issuing debt securities by way of privately placed debentures, subject to approvals. For full fiscal, Reliance Power reported a net loss of Rs 2,951.82 crore as against a net profit Rs 840.46 crore in ...

Kanungo Financiers reports standalone net loss of Rs 0.06 crore in the March 2019 quarter

Reported sales nil

Netripples Software standalone net profit rises 116.67% in the March 2019 quarter

Sales rise 68.54% to Rs 4.50 crore

Amit International standalone net profit declines 14.29% in the March 2019 quarter

Reported sales nil

Trans Freight Containers reports standalone net profit of Rs 0.23 crore in the March 2019 quarter

Sales decline 95.74% to Rs 0.04 crore

DQ Entertainment International reports consolidated net loss of Rs 34.43 crore in the March 2019 quarter

Sales rise 9.15% to Rs 28.03 crore