Page 994 - Business Finance
P I Industries spurts after strong Q3 results
P I Industries rose 7.38% to Rs 901 at 9:50 IST on BSE after net profit rose 33.1% to Rs 107.30 crore on 31.6% increase in net sales to Rs 707.50 crore in Q3 December 2018 over Q3 December 2017.
Sensex, Nifty flat ahead of key macro numbers
The Sensex and Nifty traded on a flat note during the Tuesday morning trade session ahead of the key macro-economic data release.
Market ekes out small gains in early trade
Domestic stocks eked out small gains in early trade ahead of release of key domestic macro economic data. At 9:27 IST, the barometer index, the S&P BSE Sensex, was up 9.28 points or 0.03% at 36,404.31. The Nifty 50 index was up 3.60 points or 0.03% at 10,892.40.
Global Markets: Asian stocks edge up, U.S. futures rise on hope for no government shutdown
TOKYO (Reuters) - Asian shares edged up on Tuesday as investors hoped a new round of U.S.-China trade talks would help to resolve a dispute that's dented global growth and some corporate earnings.
Allsec Technologies Ltd Slips 5.81%, S&P BSE IT Sector index Shed 1.44%
Allsec Technologies Ltd has lost 15.49% over last one month compared to 9.83% gain in S&P BSE IT Sector index and 1.1% rise in the SENSEX
Axis Bank slips as SUUTI to sell stake
Axis Bank was down 1.09% to Rs 702.60 at 9:30 IST on BSE as the Specified Undertaking of the Unit Trust of India is selling part of its stake in the private sector lender.
Deep Industries Ltd Surges 3.9%
Deep Industries Ltd has lost 10.76% over last one month compared to 9.48% gain in S&P BSE Energy index and 1.15% rise in the SENSEX
Corrected: Asian stocks edge up, U.S. futures rise on hope for no U.S. govt shutdown
(Corrects dollar index quotation in the 12th paragraph)
Renault's Senard to meet Nissan CEO Saikawa in Japan this week - sources
TOKYO (Reuters) - Renault's chairman will meet Nissan Motor's CEO this week in Japan as they look at ways to cement their partnership after the ouster of former alliance leader Carlos Ghosn, two people with knowledge of the matter told Reuters.
Oil prices rise on OPEC output cuts, as U.S. sanctions bite
SINGAPORE (Reuters) - Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although analysts expect surging U.S. production and concerns over economic growth to keep markets in check.
Asian stocks edge up, U.S. futures rise on hope for no U.S. govt shutdown
TOKYO (Reuters) - Asian shares edged up on Tuesday as investors hoped a new round of U.S.-China trade talks would help to resolve a dispute that's dented global growth and some corporate earnings.
Trump takes steps to make US global leader in AI
President Donald Trump has signed an executive order aimed at making America a global leader in artificial intelligence, the latest area of technology where China appears to have gained an advantage over the US. The order will strengthen America's global position in artificial intelligence (AI) competition by boosting investment in AI research and development, setting standards for systems development and deployment and creating a workforce that is capable of supporting AI technologies. "Continued American leadership in Artificial Intelligence is of paramount importance to maintaining the economic and national security of the United States," Trump said on Monday. Titled "Maintaining American Leadership in Artificial Intelligence", the executive order aims to promote sustained investment and innovation in AI, enhance access to resources for AI research and train a next-generation AI research workforce. As part of the initiative, Trump directed Federal agencies to prioritise investments
Asian stocks edge up, US futures rise on hope for no U.S. govt shutdown
TOKYO (Reuters) - Asian shares edged up on Tuesday as investors hoped a new round of U.S.-China trade talks would help to resolve a dispute that's dented global growth and some corporate earnings.
China's consumption growth likely to slow further in 2019: commerce ministry
BEIJING (Reuters) - Consumption growth in China is likely to slow further this year, a commerce ministry official said on Tuesday, adding that slower growth last year was due to "periodic" weak car sales and housing-related spending.
Market may open higher
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 13.50 points at the opening bell. Macroeconomic data of Consumer Price Index (CPI) for January and Index of Industrial Production (IIP) for December 2018 is slated to be released later in the day.
Axis Bank in focus as SUUTI to sell stake
Axis Bank will be watched. The Specified Undertaking of the United Trust of India (SUUTI)proposes to sell up to 5.07 crore (1.98%) equity shares of face value of Rs 2 each of Axis Bank on 12 February 2019 ("T day"), (for non-retail investors only) and on 13 February 2019 ("T+1 day") (for retail investors and non-retail investors who choose to carry forward their un-allotted bids) with an option to additionally sell 2.63 crore (1.02%) equity shares of the company (the "oversubscription option").
Sony's gaming unit appoints new chief as profit falls, generational shift looms
TOKYO (Reuters) - Sony Corp said on Tuesday it had replaced the chief executive of its gaming unit with his British deputy, as profit falls and the company looks to the launch of its next console.
China's yuan weakens against US dollar
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 270 basis points to 6.7765 against the US dollar on Tuesday, according to the China Foreign Exchange Trade System.
Japanese stocks rise on weaker yen
Tokyo stocks opened higher on Tuesday as the yen's retreat against the US dollar gave exporters a boost, while dip-buying underpinned the broader market.
Moody's downgrades Pak's banking operations from stable to negative
Global credit rating agency, Moody's Investors Service has downgraded Pakistan's outlook for the banking system to negative from stable."Over the next 12-18 months, banks in Pakistan will see their credit profiles challenged by their high exposure to the country's low-rated sovereign debt and a slowing economy," Dawn quoted Constantinos Kypreos, a senior vice-president at Moody's, said in a statement.According to a statement released on Monday, the company noted that the financial operations of the banks in Pakistan would become even more difficult in the coming days, as the real GDP growth slowing to 4.3 per cent in the fiscal year ending in June, down from 5.8 per cent in 2018."On a more positive note, the banks will continue to benefit from stable customer deposits and high liquidity," Kypreos added.The Pakistani rupee has depreciated 30% in front of the US dollar, interest rates rose by 450 basis points between December 2017 and February 2019, and inflation is rising; all factors .