Page 926 - Business Finance
Rise in demand lifts refined soya oil futures by 0.02 pc
Refined soya oil prices went up by 0.02 per cent to Rs 760.4 per 10 kg in futures trade Friday as participants built up fresh positions amid pick up in domestic demand at the spot market and restricted supplies from producing regions. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March rose by 15 paisa, or 0.02 per cent, to Rs 760.4 per 10 kg with an open interest of 35,530 lots. Similarly, the oil for delivery in April traded higher by 3 paisa, or 0.02 per cent, at Rs 751.45 per 10 kg in 10,390 lots. Analysts said fresh positions created by traders following pick up in demand in the physical market against restricted supplies from growing regions led to an upward trend in refined soya oil prices in futures trade.
Minda Industries' board approves merger with Harita Seating Systems
Auto component maker Minda Industries, the flagship company of Uno Minda, Friday said its board has approved merger of Harita Seating Systems with itself. The transaction also encompasses Minda getting 51 per cent stake in Harita Fehrer Limited, a joint venture of Harita with Fehrer Automotive GmbH, one of the leaders in automotive seating business in Europe. Harita, along with its subsidiary, has 12 manufacturing plants across India. "This is the largest merger and acquisition (M&A) transaction that Uno Minda has undertaken. HSSL is a quality-focused, system-driven organisation and we are sure we will be able to take the business to the next level and create value for shareholders of both the companies," Uno Minda Chairman and Managing Director Nirmal K Minda said in a statement. The amalgamation would offer immense opportunity to broaden the company's portfolio and invest in products that it believes are most relevant to customers, HSSL Chairman H Lakshmanan said. Harita is ...
Gold climbs Rs 310 on jewellers' buying, global cues
Gold regained its glitter with prices surging by Rs 310 to Rs 34,310 per 10 gram at the bullion market here Friday on increased buying by jewellers coupled with a firming trend overseas, according to the All India Sarafa Association. Silver also rose Rs 170 to Rs 40,820 per kg, supported by increased offtake by industrial units. Bullion traders said sentiment in the domestic market turned upbeat on the back of increased buying by jewellers and retailers and a firming trend in global markets. Globally, gold was trading higher by 0.14 per cent at USD 1,315.20 an ounce as weak US retail data raised fresh concerns about a global slowdown while silver shed 0.10 per cent, to USD 15.67 an ounce. In the national capital, gold of 99.9 per cent and 99.5 per cent purities rebounded by Rs 310 each to Rs 34,310 and Rs 34,160 per 10 gram, respectively. The yellow metal had lost Rs 280 in the previous four days. Sovereign gold, on the other hand, continued to rule flat at Rs 26,000 per piece of 8 ...
Kannadigas to get priority in private sector jobs in C and D
Breathing life into more than a three-decade old committee report, the Karnataka government has decided to amend rules to give primacy to Kannadigas in jobs under Group C and D category in the private sector. The state cabinet decided to amend the Karnataka Industrial Employment (Standing Orders), Rules, 1961, to implement the Sarojini Mahishi report, a statement from Rural Development and Panchayat Raj Minister Krishna Byre Gowda said. The Mahishi Committee, headed by former Union minister Sarojini Mahishi, was constituted in 1984 to recommend job opportunities for Kannadigas in Karnataka and it submitted the report two years later. "As mentioned in thew Sarojini Mahishi report, to provide reservation for Kannadigas in jobs, an effort has been made to strengthen the law. With this respect it has been decided to bring necessary amendments to rules to give priority to Kannadigas during appointment to C and D group jobs at private companies that are getting support from ..
Just 2 companies control 50% of India's smartphone market
The year 2018 ended with just two companies together controlling around 50 per cent share of the India smartphone market - Chinese smartphone maker Xiaomi and South Korean giant Samsung, according to latest data released by International Data Corporation (IDC).
Jet Airways seeks to raise $840 million from share sale - media
(Reuters) - Jet Airways Ltd plans to raise about $840 million from a government fund and a rights issue, Business Television India said, a day after the company's board approved a deal for some lenders to infuse funds and restructure debt.
Board of Panjon approves change in directorate
At meeting held on 14 February 2019
Jet Airways may raise 45 billion rupees via rights issue - Business Television India
(Reuters) - Debt-laden Indian carrier Jet Airways Ltd may propose to raise 45 billion rupees ($629.95 million) via a rights issue priced at between 125-150 rupees per share, Business Television India reported on Friday.
RBS says 50 billion euros-plus of cross-border payments threatened by Brexit
LONDON (Reuters) - The political turmoil surrounding Britain's departure from the European Union threatens Royal Bank of Scotland's ability to clear more than 50 billion euros ($56 billion) per day in cross-border payments, the bank said on Friday.
RBS boosts dividend but warns Brexit turmoil could increase costs
LONDON (Reuters) - Britain's Royal Bank of Scotland unveiled a better than expected dividend for long-suffering investors after its profit more than doubled in 2018, but warned Brexit would make it harder to achieve its cost-cutting goals.
Brent oil slips from 2019-high as economic woes counter OPEC-led cuts
SINGAPORE (Reuters) - Brent crude oil prices slipped away from 2019 highs above $65 per barrel reached earlier on Friday, as economic concerns countered OPEC-led supply cuts and a partial shutdown of Saudi Arabia's biggest offshore oil field.
Market hovers near day's low
Key equity indices were trading near day's low in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was down 301.88 points or 0.84% at 35,574.34. The Nifty 50 index was down 96.95 points or 0.90% at 10,649.10. Sentiment was impacted by negative Asian stocks.
Turmeric prices slip 0.27% on low demand
Turmeric prices drifted lower by 0.27 per cent in futures market Friday as participants cut down their bets on weak domestic as well as export demand in the spot market. At the National Commodity and Derivatives Exchange, turmeric for delivery in April declined by Rs 46, or 0.27 per cent, to Rs 6,316 per quintal with an open interest of 12,565 lots. Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stock position on increased supplies, mainly kept pressure on turmeric prices in futures trade.
Hellman & Friedman, Blackstone make 5.7 billion euro offer for Scout24
FRANKFURT (Reuters) - Hellman & Friedman and Blackstone have offered to buy online classifieds group Scout24 for 5.7 billion euros ($6.4 billion), including debt, potentially the biggest takeover of a listed German company by private equity.
Gold rangebound as investors eye trade talks; weak data supports
Gold traded in a tight $4 range on Friday as investors looked for signs of progress in ongoing U.S.-China trade talks, while concerns of a global slowdown in the wake of sombre economic data out of United States and China provided underlying support.
Indian appointed to high-level accounting post at UN
Chandramouli Ramanathan has been appointed as the world body's controller by Secretary-General Antonio Guterres, according to his spokesperson Stephane Dujarric.
Inox Leisure Ltd gains for third straight session
Inox Leisure Ltd is quoting at Rs 267, up 2.08% on the day as on 12:49 IST on the NSE. The stock is down 11.4% in last one year as compared to a 1.86% slide in NIFTY and a 30.72% slide in the Nifty Media index.
Australia Market ends firmer
The finance sector was higher, with three of the four big banks saw gains, led by ANZ, which was up 1%, to A$26.81. NAB edged 1 cent lower to A$24.22.
Asian prices drop to 17-month low on tepid demand
SINGAPORE (Reuters) - Asian spot prices for liquefied natural gas (LNG) continued their downward spiral this week, hitting a 17-month low as the market moved further away from the peak winter-demand period and inventories remained high in the region.
Coriander dips 0.72% on subdued demand
Coriander prices fell 0.72 per cent to Rs 6,310 a quintal in futures market Friday as participants cut down positions amid muted domestic as well as export demand against ample stocks position. Besides, rising arrivals from major producing regions and profit-booking at higher levels weighed on the sentiment. At the National Commodity and Derivatives Exchange, coriander prices for delivery in far-month April declined by Rs 46, or 0.72 per cent, to Rs 6,310 per quintal with an open interest of 27,500 lots. On similar lines, coriander for May was trading lower by Rs 24, or 0.27 per cent, at Rs 6,374. The open interest of the contract stood at 22,240 lots. Analysts attributed the fall in coriander futures to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.