Page 964 - Business Finance
JSW Steel crude steel output drops marginally to 14.53 LT in Jan '19
JSW Steel Wednesday said its crude steel production slipped 1 per cent to 14.53 lakh tonne (LT) in January 2019. The company had produced 14.61 LT crude steel during the same month a year ago, the company said in a statement. During January 2019, the company said, its output of flat rolled products was at 10.40 LT, up 3 per cent from 10.13 LT in the year-ago month. The production of long rolled products at 3.44 LT was lower as against 3.68 LT in January 2018. JSW Steel is the flagship company of the diversified USD 13 billion JSW Group which has presence in sectors such as steel, energy, infrastructure, cement, sports among others.
Yield-hungry investors dig into offshore Chinese debt
HONG KONG (Reuters) - At BEA Union Investment in Hong Kong, Pheona Tsang is getting creative. The head of fixed income is planning to fill 10 percent of a yuan-focused portfolio this year with U.S. dollar bonds, sold by Chinese companies outside of the mainland market.
CAG: Delivery schedule in 2016 Rafale contract better by one month
The Comptroller and Auditor General (CAG) has found that there was an improvement of one month in the delivery schedule of the 2016 contract for 36 Rafale fighter jets in flyaway condition than the one negotiated by the UPA government.
Letstrack CEO Named as India's Inspirational Leader by WCRC
/ -- Takes Company to new heights with an exceptional growth rate Letstrack, a market leader in real-time tracking systems has recently announced that its CEO & Founder - Vikram Kumar has been recognized as India's Inspirational Leader (2018-2019) at the 3rd edition of Global Indian Excellence Summit, attended by the top business leaders and investors from Europe, America, and Asia in London. The award program appreciates India's Business Leadership and their contribution in strengthening the economy with stellar leadership. Vikram Kumar was selected for this award by an independent jury panel for excelling in business innovation, style of leadership, driving force and social responsibility behind his vision and philosophy. "I am honored to receive such an influential title and award by WCRC. It belongs to Letstrack and the entire team which has always believed in me as well as my commitment to innovate and impact the GPS tracking marketplace and deliver the best to our ...
Union Bank of India down for fifth straight session
Union Bank of India is quoting at Rs 70.1, down 0.43% on the day as on 13:24 IST on the NSE. The stock tumbled 42.16% in last one year as compared to a 3.42% rally in NIFTY and a 16.08% fall in the Nifty PSU Bank index.
MOIL Ltd eases for fifth straight session
MOIL Ltd is quoting at Rs 155.6, down 0.16% on the day as on 13:24 IST on the NSE. The stock tumbled 8.17% in last one year as compared to a 3.42% rally in NIFTY and a 31.14% fall in the Nifty Metal index.
Edelweiss Financial Services Ltd eases for fifth straight session
Edelweiss Financial Services Ltd is quoting at Rs 120, down 9.23% on the day as on 13:24 IST on the NSE. The stock tumbled 8.17% in last one year as compared to a 3.42% rally in NIFTY and a 8.88% fall in the Nifty Financial Services index.
Bosch Ltd down for fifth straight session
Bosch Ltd is quoting at Rs 17920, down 3.62% on the day as on 13:24 IST on the NSE. The stock tumbled 8.17% in last one year as compared to a 3.42% rally in NIFTY and a 27.38% fall in the Nifty Auto index.
State Bank of India eases for fifth straight session
State Bank of India is quoting at Rs 272, down 1.23% on the day as on 13:24 IST on the NSE. The stock tumbled 1.52% in last one year as compared to a 3.42% rally in NIFTY and a 6.84% spurt in the Nifty Bank index.
ICICI Bank Ltd down for fifth straight session
ICICI Bank Ltd is quoting at Rs 342.9, down 0.41% on the day as on 13:24 IST on the NSE. The stock jumped 7.51% in last one year as compared to a 3.42% rally in NIFTY and a 6.84% spurt in the Nifty Bank index.
Oil pushed up by deepening OPEC cuts, sanctions on Venezuela
SINGAPORE (Reuters) - Oil prices rose on Wednesday as producer club OPEC said it had cut supply deeply in January and as U.S. sanctions hit Venezuela's oil exports.
Equity indices hold on to gains, Sensex 95 points up
The key Indian equity indices traded in the green on Wednesday afternoon, supported by easing retail inflation and firm global markets.
Bharat Forge Q3 profit up 36 pc at Rs 310 cr
Auto component major Bharat Forge Wednesday reported 35.79 per cent increase in standalone net profit at Rs 309.83 crore for the third quarter ended December 31, 2018. The company had reported a profit of Rs 228.17 crore in the same quarter last fiscal, Bharat Forge said in a regulatory filing. Total income during the quarter under review stood at Rs 1,740.37 crore as against Rs 1,412.47 crore in the year-ago period, it added. Bharat Forge Chairman and Managing Director B N Kalyani said the growth in revenue and profit in the third quarter was on the back of "strong performance across key verticals and all geographies." "Key highlights during the quarter include quarterly revenues from oil and gas verticals and the aerospace and defence verticals. The company secured new orders worth USD 6.5 million from commercial vehicle (CV) and industrial sectors," he said. On the outlook, Kalyani said the company expects demand to sustain in the fourth quarter at the current levels. "The ...
Japan Nikkei rises on positive US-China trade sentiment
President Donald Trump said he's open to extending a March 1 deadline to raise tariffs on Chinese products if the two sides are near an agreement, sending a conciliatory signal amid talks to resolve the trade war between the world's two-biggest economies. Officials in Washington and Beijing had expressed hopes that a new round of talks which began this week would bring them nearer to easing their seven-month trade war.
IHG buys Six Senses Hotels business for $300 million
(Reuters) - InterContinental Hotels Group has agreed to buy the brands and operating companies of Six Senses Hotels Resorts Spas for $300 million in cash, the owner of the Crowne-Plaza and Holiday Inn chains said on Wednesday, in a move that beefs up its luxury portfolio.
Australian walnuts set to enter Indian market
Australia and India have concluded a market a market access agreement to allow the entry of Australian walnuts in the huge Indian market. According to Australian Agriculture Minister David Littleproud, the two countries signed a market access agreement on February 6 with trade set to formally commence once the import conditions are officially gazetted by the Indian authorities. He said in the interim, 10 trial shipments of Australian walnuts will be sent to India before the trade doors officially open. "Many Australians don't realise a scientific market access agreement is often the hardest part of getting access to a new market, Littleproud. Getting scientists from two countries to agree on how to stop any threat of diseases or pests being exported from one country to another can be very difficult," he said. "We have managed to win agreement with our Indian friends and this means our walnut growers can export their clean, green product to India,'' he said last week. "We spoke to ...
Sebi has robust measures for proper functioning of securities mkt: IOSCO report
Markets watchdog Sebi has been identified by a global body of regulators among those having put in place robust measures to ensure orderly functioning of securities markets. This is a part of the findings of an IOSCO report titled "Standards Implementation Monitoring on Secondary and Other Market Principles". These secondary and other market principles seek to promote fair, efficient and transparent markets and provide core elements of an essential regulatory framework for securities regulations. According to the report, the Indian capital markets regulator has mostly implemented secondary market principles. These secondary market principles cover areas such as authorisation, oversight and ongoing supervision requirements; transparency requirements; detection and deterring market misconduct; and also deal with managing risks, such as monitoring large exposures, default procedures and short selling. In India, the recognised stock exchanges have in place automated systems of market ...
HCL Technologies wins NASSCOM BPM Customer Excellence Awards 2018
HCL received this recognition for helping its customer, a leading multinational bank and Financial Services company bring in customer-centricity with an innovative digital transformation of its Asset Management business.
Australia Market falls 0.26%
Financial stocks declined, with shares of top lender Commonwealth Bank of Australia down near 3 percent as traded ex-dividend. The company has declared a $2 a share interim dividend on March 28.
Silver futures up 0.17% on global cues
Silver futures traded 0.17 per cent higher at Rs 39,583 per kg Wednesday after participants widened their bets amid a firming trend overseas. At the Multi Commodity Exchange, silver for delivery in February was trading higher by Rs 69, or 0.17 per cent, at Rs 39,583 per kg in a business turnover of 2,181 lots. Similarly, the March contract of silver gained Rs 52, or 0.13 per cent, to trade at Rs 39,555 per kg in 561 lots. Marketment attributed the rise in silver prices to participants raising bets in sync with a firming trend in global market. In the international market, silver was up 0.19 per cent at USD 15.80 an ounce in New York.