Page 870 - Business Finance
Refined soya oil futures rise 0.02%
Refined soya oil prices were up 0.02 per cent to Rs 770.95 per 10 kg in futures market Tuesday as participants booked profits amid easing demand at the spot market against adequate stocks position. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March went up by 15 paisa, or 0.02 per cent, to Rs 770.95 per 10 kg with an open interest of 51,900 lots. In a similar fashion, the oil for delivery in April was up by a same margin to Rs 761 per 10 kg in 34,400 lots. Analysts said widening of positions by traders, driven by improved demand in physical markets against restricted supplies from producing belts mainly attributed to the rise in prices here.
GoM on GST on Housing submits recommendations to Council
A Group of Ministers (GoM) headed by Gujarat Deputy Chief Minister Nitin Patel which has favoured 3 per cent tax on the affordable housing category, down from 8 per cent, has submitted its report to the GST Council for taking it up and decide on it by Wednesday.
Premier Polyfilm Ltd leads losers in 'B' group
Think Ink Studio Ltd, Arihant Foundations & Housing Ltd, Bedmutha Industries Ltd and E-Land Apparel Ltd are among the other losers in the BSE's 'B' group today, 19 February 2019.
Volumes soar at Narayana Hrudayalaya Ltd counter
Narayana Hrudayalaya Ltd recorded volume of 4.46 lakh shares by 14:18 IST on NSE, a 21.19 times surge over two-week average daily volume of 21038 shares
Commerce Minister clears proposal to encourage investments in Start-Ups
DPIIT to issue notification on 19 February 2019
Gold steady at 10-month peak; Palladium scales new high
(Reuters) - Gold prices hovered near 10-month highs on Tuesday as optimism around U.S.-China trade discussions dimmed the dollar's appeal, while palladium struck a record high on supply concerns.
Honda CEO says decision to end production in UK not Brexit related
TOKYO (Reuters) - Honda Motor Co's decision to end production in Britain was not related to Brexit, its chief executive said on Tuesday, after announcing the closure of its only British car plant.
Parmigiani Fleurier enters in India with Ethos Watch Boutiques
Premium Swiss watch manufacturer Parmigiani Fleurier has forayed into the Indian market exclusively with Ethos Watch Boutiques. The timepieces from the brand are priced over Rs 7 lakh, and will be available in all major metros through the network of Ethos Watch Boutiques within the next two years, Parmigiani Fleurier said in a statement. Parmigiani Fleurier CEO Davide Traxler said, "The Indian market for our brand is unexplored, and we identified this opportunity to venture out to a new territory and make investments in India". "The watchmaking market is more stable today, and there will be obvious challenges along the way while growing and expanding, but with a brand like ours with some very sturdy roots, we can face the future head on. In Ethos, we have found the right partner..." he added.
Emami stocks jump 15% after promoters sell 10% stakes to cut debts
The Emami Group's stocks rose sharply by over 14 per cent on Tuesday after the group promoters sold their 10 per cent stake in Emami Limited, raising about Rs 1,600 crore to reduce debts.
Indian corporates may see slowdown in revenue growth over 24 months: S&P
S&P Global Ratings Tuesday said rated Indian corporates are likely to see slowdown in revenue growth over the next 12-24 months. In a report titled 'Indian Corporate 2019 Outlook - Time For Caution', S&P said, "India's central government elections this year may pose additional risks for Indian corporates. A change of administration may trigger expansionary government spending that pushes up borrowing costs or raises inflation". Global risks such as stability of commodity prices and demand from the US and China will have a greater influence on the fortunes of Indian companies than domestic demand in the next year or two, it noted. "Revenue growth at Indian companies that S&P Global Ratings rates is likely to slow down over the next 12-24 months," it said. The revenue environment for rated corporates is facing increasing global risks such as China's slowdown, trade war escalation, or a disorderly Brexit. "Indian corporate performances should remain stable, given low costs, ..
Toshiba Group changes name of UEM India to Toshiba Water Solutions
Toshiba Group Tuesday said the name of its wholly-owned subsidiary UEM India has been changed to Toshiba Water Solutions. "Now with the formal adoption of Toshiba name, the company will have access to wider customer base in India and overseas, while reiterating the Japanese quality and commitment that Toshiba name carries," Toshiba Water Solutions Chairman and MD Koichi Matsui said. Toshiba acquired 100 per cent stake in UEM in March 2018. Current shareholding in UEM is shared between Toshiba Corporation (56.11 per cent) and Toshiba Infrastructure Systems & Solutions Corporation (43.89 per cent). The new name is effective from February 12, 2019 and will be implemented across the company's product and services, a statement said.
Hero Electronix sets up semiconductor chip design centre in Bengaluru
Hero Electronix, the electronics and technology venture of the Hero group, Tuesday said it has opened a dedicated semiconductor chip design centre in Bengaluru. The centre has been set up by Tessolve, an engineering solutions firm which Hero Electronix had acquired in 2016, the company said in a statement without disclosing the investment made at the facility. It will focus on the needs of Tessolve's clients, which include major global semiconductor companies while also providing a strong impetus to its chip design offering, the statement added. "It is an important milestone for the Tessolve team in our journey to become a chip design leader and is followed by the acquisition of Analog Semiconductors a year back to strengthen our analog design capabilities," Tessolve Founder and CEO P Raja Manickam said. The centre will further help in strengthening the company's capabilities as an end-to-end solutions partner and semiconductor engineering services leader, he added. The Bengaluru ...
Govt relaxes norms for startups, raises investment limit to avail angel tax concession
Giving major relief to budding entrepreneurs, the government Tuesday relaxed the definition of startups, and allowed them to avail full angel tax concession on investments worth up to Rs 25 crore. Earlier, a startup was allowed to avail tax concession only if total investment, including funding from angel investors, did not exceed Rs 10 crore. "Considerations of shares received by eligible startups for shares issued or proposed to be issued by all investors shall be exempt up to an aggregate limit of Rs 25 crore," Commerce and Industry Minister Suresh Prabhu said in a series of tweets. The development assumes significance as several startups have claimed to receive angel tax notices, impacting their businesses. Various startups have raised concerns on notices sent to them under the section 56(2)(viib) of Income Tax Act, 1961, to pay taxes on angel funds received by them. The minister said that a notification regarding simplifying the process for startups to get exemptions on ...
RPower promoters aim Rs 2,500 cr from stake sale
Sovereign wealth funds of Qatar and Abu Dhabi as well as private equity major KKR have evinced interest in investing in Reliance Power, where promoters plan to sell part of their direct holdings to raise Rs 2,500 crore, investment banking sources said Tuesday. Part of the diversified Anil Ambani group, Reliance Power has appointed J P Morgan as the banker for the proposed stake sale, the sources said. When contacted, the company declined to comment. The sources said promoters plan to offload 18 to 19 per cent of their 30 per cent direct holding in the company. Overall, they would retain 51 per cent of direct and indirect shareholding post sale. At the end of December 2018, promoter entities held 75 per cent stake in the company, as per data available on the BSE. Qatar Investment Authority, Abu Dhabi Investment Authority, Blackstone, TPG and KKR are among the major players that are interested in bidding for stake in Reliance Power, the sources said. Last week, Reliance Group reached a .
Aurobindo Pharma Ltd eases for fifth straight session
Aurobindo Pharma Ltd is quoting at Rs 715.3, down 0.2% on the day as on 13:19 IST on the NSE. The stock jumped 24.44% in last one year as compared to a 3.41% rally in NIFTY and a 4.74% fall in the Nifty Pharma index.
Market hits fresh intraday high
Key benchmark indices extended gains and hit fresh intraday high in afternoon trade. At 13:28 IST, the barometer index, the S&P BSE Sensex, was up 219.60 points or 0.62% at 35,718.04. The Nifty 50 index was up 70.10 points or 0.66% at 10,711.05.
Oil hovers just below 2019 highs as markets look to trade talks
SINGAPORE (Reuters) - Oil prices hovered just below 2019 highs on Tuesday as traders waited for the outcome of U.S.-China trade talks this week, while supply cuts led by producer group OPEC meant markets were relatively tight.
Deepak Nitrite Limited Conferred With The National Best Employer Brands 2018
/ -- In a function held at Taj Lands End, the Global Employer Branding Institute and World HRD Congress conferred Deepak Nitrite Ltd. with NATIONAL BEST EMPLOYER BRANDS 2018. This year the institute hosted National Best Employer Brands, as well as Asia Best Employer Brands, GCC Best Employer Brands and Africa Best Employer Brands. (Photo: https://mma.prnewswire.com/media/823575/Deepak_Nitrite.jpg ) The focus of this year was around specific Industry Segments such as :- The digital industry, the real estate industry, solar industry, the green, recycling and waste industry, the food industry, BFSI, retail industry and allied sectors. The entire research is chaired by Professor Indira Parikh, Ex. Dean of IIM Ahmedabad and Founder, FLAME. Speaking on the occasion, Dr. Prashant Rao, Vice President - Human Resources, said, "We are humbled to receive this recognition at pan India level, Deepak Nitrite believes in 'People-Planet-Profit' focus, where our people-aligned business strategy has ..
Castor seed prices up by Rs 18 on firm bets
Castor seed prices rose by Rs 18 to Rs 5,264 per quintal in futures trade Tuesday after investors widened their bets amid firm trends. Apart from rising demand from consuming industries, short position of stocks in the spot markets mainly led to the rise in castor seed futures, marketmen said. At the National Commodity and Derivatives Exchange, castor seed for March was trading higher by Rs 18, or 0.34 per cent, at Rs 5,264 per quintal clocking an open interest of 1,48,200 lots. Castor seed for April rose by Rs 38, or 0.72 per cent, to Rs 5,350 per quintal with an open interest of 21,845 lots.
Emami Ltd spikes around 12%
Emami Ltd is quoting at Rs 405.2, up 11.95% on the day as on 12:49 IST on the NSE. The stock is down 22.45% in last one year as compared to a 3.33% jump in NIFTY and a 10.93% jump in the Nifty FMCG index.