Page 950 - Business Finance
Telecom stocks decline
Stocks hovered in negative zone in mid-morning trade. At 11:28 IST, the barometer index, the S&P BSE Sensex, was down 121.39 points or 0.34% at 35,912.72. The Nifty 50 index was down 48.45 points or 0.45% at 10,745.20. Telecom stocks declined.
Yes Bank shares zoom 30 pc; m-cap rises by Rs 8,590 cr
Shares of Yes Bank zoomed 30 per cent in morning trade Thursday after the company said that the RBI has not found any divergence in the asset classification and provisioning done by the lender during 2017-18. The shares after opening the day on a positive note further skyrocketed 28.95 per cent to Rs 218 on BSE. At NSE, shares rose sharply by 29.97 per cent to Rs 220.25. Shares of the company were the biggest gainer on both the indices during the morning trade. Following the sharp jump in its shares, the company's market valuation jumped by Rs 8,590.52 crore to Rs 47,714.21 crore on BSE. The Reserve Bank of India (RBI) assesses compliance by banks with extant prudential norms on income recognition, asset classification and provisioning (IRACP) as part of its supervisory processes. "As part of this process, Yes Bank has received the Risk Assessment Report for FY2018. The report observes NIL divergences in the bank's asset classification and provisioning from the RBI norms," Yes Bank ...
Nickel futures fall 0.09% over muted demand
Nickel prices fell 0.09 per cent to Rs 876 per kg Thursday after traders trimmed their holdings amid easing demand at the spot market. At the Multi Commodity Exchange, the February contract of nickel was trading lower by 80 paise, or 0.09 per cent, at Rs 876 per kg in a business volume of 1,276 lots. Marketmen said offloading of positions by participants due to slackened demand from alloy makers at the spot market weighed on nickel futures here.
Board of Vishvprabha Trading considers setting up canning and juice factory in Gujarat
At meeting held on
Zinc futures marginally up on firm spot cues
Zinc prices went up 0.16 per cent to Rs 185.60 per kg Thursday as speculators built up fresh positions, supported by improved demand at the domestic spot market amid positive global cues. Zinc for delivery in February contract edged higher by 30 paise, or 0.16 per cent, at Rs 185.60 per kg in a business turnover of 1,547 lots at the Multi Commodity Exchange. Analysts said fresh positions created by traders on pick up in demand from consuming industries in the domestic physical market, drove the upward trend in zinc prices at futures trade here.
Edelweiss, Bank of Singapore sign MoU for strategic partnership
Edelweiss Group Thursday said it has signed a memorandum of understanding (MoU) with Bank of Singapore to form a strategic partnership to provide clients of both entities the opportunity to access their respective product platforms. "This is the first time that an Indian wealth manager of Edelweiss' size and stature is partnering with an offshore private bank," Edelweiss Financial Services said in a BSE filing. Bank of Singapore had previously signed similar strategic partnerships with two financial institutions one from Japan and another from Switzerland. Shares of Edelweiss Financial Services were trading 2.94 per cent lower at Rs 123.80 apiece on BSE.
Volumes jump at Max India Ltd counter
Max India Ltd witnessed volume of 4.6 lakh shares by 10:48 IST on BSE, a 39.24 times surge over two-week average daily volume of 11718 shares
Gold futures fall 0.32% on profit-booking
Gold prices slipped by 0.32 per cent to Rs 32,905 per ten gram in futures trade Thursday after traders booked profits. However, a firm trend overseas capped the fall in prices. At the Multi Commodity Exchange, gold for delivery in far-month April drifted lower by Rs 106, or 0.32 per cent, to Rs 32,905 per 10 gram in a business turnover of 909 lots. In a similar manner, the March contract of gold fell by Rs 102, or 0.31 per cent, to quote at Rs 32,807 per 10 gram, in a business turnover of 965 lots. Analysts said profit-booking by traders at existing levels led to the fall in gold prices but a better trend overseas, limited the losses. Globally, gold was up 0.15 per cent at Rs 1,308.80 an ounce in New York.
China-US trade negotiations underway in Beijing
The third round of negotiations between China and the US to end their trade war began on Thursday here as the parties planned to close their differences before March 1 deadline, media reports said.
Oil, gas companies incentivise executives to chase growth: Carbon Tracker
Oil and gas companies are jeopardizing shareholder returns by rewarding bosses for endlessly chasing growth in a world where investor pressure to conform to climate targets and sharp falls in renewables costs are set to eat into future demand, financial think tank Carbon Tracker said on Thursday.
Yes Bank sees best day after RBI gives clean chit
(Reuters) - Yes Bank Ltd's shares surged 30 percent early on Thursday in their sharpest ever intraday jump, a day after the Indian central bank cleared the private sector lender of any divergences in bad loan reporting practices.
China January trade data beats forecasts, but likely due to seasonal factors
BEIJING (Reuters) - China's exports unexpectedly returned to growth in January after a shock decline the previous month, while imports fell much less than expected, but analysts said it was likely due to seasonal factors and predicted renewed trade weakness ahead.
Australia Market trades softer
Market commenced trading in firm footing on the back of optimism for progress in the latest Sino-U.S. tariff talks after US president Trump said on Wednesday the talks with China were going along very well as they try to resolve the tariff dispute ahead of a March 1 deadline. Sentiments also bolstered on speculation the Federal Reserve could stay patient on rates after data showing U.S. consumer price inflation rose at the slowest annual pace in more than 1-1/2 years and hope another U.S. government shutdown would be averted as President Donald Trump edged toward backing a deal in Congress on funding for a border barrier. However, market failed to hold early momentum on caution ahead of Chinese trade data which expected to show further falls in exports and imports.
Larsen & Toubro Infotech to acquire Nielsen+Partner, Germany
The acquisition is subject to customary closing conditions which are expected to get completed within 6 weeks.
Yes Bank receives Risk Assessment Report for FY 2018 with NIL divergences
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DHFL slips after joint MD, CEO Harshil Mehta resigns
Dewan Housing Finance Corporation fell 1.40% to Rs 109 at 9:50 IST on BSE after the company said that its joint managing director & CEO Harshil Mehta resigned on Wednesday with immediate effect.
ResellerClub Turns 13, Celebrates With Big Birthday Bash Sale on Hosting and Domains
/ -- ResellerClub, an Endurance International Group company and a provider of web hosting, domains and other web presence products completes its 13th year in the industry. To celebrate this milestone, the brand is offering discounts on web hosting and domains as part of the Big Birthday Bash sale this February. (Logo: https://mma.prnewswire.com/media/683574/ResellerClub_Logo.jpg ) Here are the details of the discounts one can enjoy: Multi-domain hosting - Up to 55% off Single Domain Hosting - Flat 50% off Cloud Hosting - Up to 55% off Reseller Hosting - Up to 55% VPS - Up to 60% off Dedicated Servers - Up to 55% off Speaking about turning 13, Sruthi Yalaka, AVP Marketing & Business Development at ResellerClub said, "We're extremely grateful and privileged to be entering our teens in this industry! As we turn a year older, we would like to thank our existing customers and welcome new ones by offering discounts on web hosting and domains as part of our Big Birthday Bash sale.
Dewan Housing shares fall after CEO resigns
(Reuters) - Shares in Dewan Housing Finance Corp Ltd fell as much 6.5 percent on Thursday morning after the home loan provider's chief executive Harshil Mehta resigned.
Global Markets: Asian shares cautious, seeking Sino-U.S. clarity
SYDNEY (Reuters) - Asian stock markets were in a cautious mood on Thursday as investors hung on for any hint of progress in the latest Sino-U.S. tariff talks amid reports the White House could extend the deadline for a deal.
Japan's GDP rebounds from quake, floods but trade war hangs over 2019
TOKYO (Reuters) - Japan's economy bounced back in the fourth quarter as business and consumer spending recovered from the impact of natural disasters but trade frictions and a proposed sales tax hike are expected to hinder growth in 2019.