NSE receives approval from US derivatives regulator CFTC to sell products
Posted on 19th May 2018 |
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The National Stock Exchange (NSE) has received approval from the US derivatives regulator, Commodity Futures Trading Commission (CFTC), to sell its products to US-based investors. The US equity and commodity derivatives are regulated by CFTC and institutional investors based in the US are allowed to invest only in those derivatives that are CFTC-approved. |
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Sensex falls for a fourth straight day as rupee, oil prices weigh
Posted on 19th May 2018 |
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The benchmark indices fell for a fourth straight day on Friday, on concerns over high oil prices and weakness in the rupee. The Sensex declined 0.86 per cent, or 301 points to 34,848.3, while the Nifty declined 86.3 points, or 0.81 per cent to 10,596.4. Both the indices ended the week with a decline of nearly two per cent — the most in two months. The weakness in the market comes amid Brent crude oil prices climbing to $80 a barrel and the rupee declining to 68 against the dollar. |
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Battle for Essar Steel: ArcelorMittal sets terms for Rs 70 bn repayment
Posted on 19th May 2018 |
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Indian lenders will have access to Rs 70 billion deposited by ArcelorMittal in an escrow account, but only after the L N Mittal-owned company gets approval from the National Company Law Tribunal (NCLT) to take over Essar Steel and all pending litigation against the stressed steel asset are resolved before the acquisition. |
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No proposal to merge BSNL and MTNL, says Telecom Minister Manoj Sinha
Posted on 18th May 2018 |
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Telecom Minister Manoj Sinha on Friday said there is no proposal to merge state-run telecomcompanies Bharat Sanchar Nigam (BSNL) and Ma hanagar Telephone Nigam (MTNL). “There is no proposal to merge BSNL and MTNL. We had appointed a consultant to revive MTNL, who has given some recommendations. |
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Ashok Leyland net profit up 40% to Rs 6 bn, total income rises to Rs 88 bn
Posted on 18th May 2018 |
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Commercial vehicle major Ashok Leyland has posted a growth of 40 per cent in net profit at Rs 6.67 billion during the quarter ended March 31, 2018, beating the analyst estimates of around 38 per cent growth. The net profit for the same period last year was Rs 4.76 billion, on a standalone basis. The total income grew by 23.79 per cent during the quarter, to Rs 88.30 billion as compared to Rs 71.33 billion a year ago. |
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NTPC banks on renewable energy generation to minimise stranded asset risk
Posted on 18th May 2018 |
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NTPC Ltd, the largest power producer, is looking to minimise its stranded asset risk while accelerating the integration of renewable energy generation capacity. The strategy is a win-win situation for NTPC shareholders, the government, electricity consumers, distribution companies (discoms), and the environment, says a report by US-based Institute for Energy Economics & Financial Analysis (IEEFA). |
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Bajaj Auto Q4 net up 36% at Rs 11.75 bn, revenue rises to Rs 67 bn
Posted on 18th May 2018 |
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Two-wheeler major Bajaj Auto on Friday said its consolidated net profit increased 36.32 per cent to Rs 11.75 billion for March quarter, driven by robust sales across segments. The company had reported a net profit of Rs 8.62 billion during January-March, 2016-17. |
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BPCL to commission Rs 1.03-billion LPG bottling unit by March 2020
Posted on 18th May 2018 |
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Bharat Petroleum Corporation Ltd (BPCL), a maharatna PSU, aims to commission the LPG bottling unit at Balangir, its second in Odisha, by March 2020. The new bottling unit is being built at a cost of Rs 1.03 billion. The facility is to be spread over 23 acres at Barkhani village, around 12 km from the Bolangir railway station. |
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Mutual funds shun TCS, ICICI Bank, Avenue Supermarts in April
Posted on 18th May 2018 |
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Mumbai: Even when the market rose 6.65% in April, mutual funds’ top stock sales in the month in the large-cap space included software exporter Tata Consultancy Services Ltd (TCS), private lender ICICI Bank Ltd. and supermarket chain Avenue Supermarts Ltd. Mutual funds invested a net of Rs9,435.64 crore in Indian equities in April, data from Securities and Exchange Board of India (Sebi) showed. |
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Maruti Suzuki set to drive in biggest ever capacity expansion in India
Posted on 18th May 2018 |
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New Delhi: Japanese carmaker Suzuki Motor Corp. plans to expand production capacity by as many as 2.5 million cars a year in the decade to 2030 as it lays the groundwork to maintain its dominance in India, where it sells one in two cars. The capacity expansion, the biggest ever planned by Suzuki or its local unit in India, will be divided into two phases, two people aware of the plans said, requesting anonymity. Suzuki will first expand its Gujarat plant by adding capacity to make 750,000 cars starting 2020. |
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