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UltraTech Cement, NTPC among 19 stocks in BSE500 that hit their 52-week low
Posted on 19th June 2018
Shares of UltraTech Cement, NTPC, Bharti Infrastructure, Tata Power Company, Vedanta, India Cements and Shree Cement were among 19 stocks from the S&P BSE 500 index hitting their respective 52-week lows on the BSE.

CG Power & Industries, Cummins India, Inox Wind, JK Lakshmi Cement, Kirloskar Oil Engines, Mangalore Refinery Petrochemicals (MRPL), Manpasand Beverages, Motilal Oswal Financial Services and NHPC too hit their respective 52-week lows today.

Microsoft says it is “dismayed” by the forced separation of migrant families at the border
Posted on 19th June 2018
Amid calls for a boycott and employee dissent over its cloud-computing deal with the United States Immigration and Customs Enforcement (ICE), Microsoft issued a statement saying that the company “is dismayed by the forcible separation of children from their families at the border.” The ICE is currently under fire from both sides of the political spectrum for separating migrant parents from their children at the United States-Mexico border.

Football World Cup kicks off a boom in TV sales
Posted on 19th June 2018
New Delhi: The football World Cup has kicked off a boom in television sales in India, a country that has never participated in the world’s most-watched sports event. TV sales in India, which have been growing at a stable annual pace of 6% a year, have seen a sudden spurt ahead of the World Cup with Sony, Samsung and Xiaomi expecting sales to continue to be brisk throughout the duration of the month-long event, particularly in markets such as West Bengal, Kerala and the Northeast.

Paytm buys Flipkart-backed Cube26, aims to boost customer experience
Posted on 19th June 2018
Bengaluru: One97 Communications Ltd which owns payments app Paytm on Tuesday announced the acquisition of New Delhi-based technology start-up Cube26. The transaction size was not disclosed.

A Paytm statement said the acquisition will help the company upgrade user experience over its mobile platform.

Axis Bank hikes MCLRs by 10 bps
Posted on 19th June 2018
Axis Bank, the country’s third-largest private bank by assets, on Monday raised marginal cost of funds-based lending rates (MCLRs) by 10 basis points (bps) across tenures, following similar hikes by its peers earlier this month. The one-year MCLR at the bank now stands at 8.6%. This is the fourth rate hike by the lender in calendar year 2018.

Solar power firm FRV in talks with funds to sell India project
Posted on 19th June 2018
Mumbai: Madrid-based developer of large-scale solar power plants, Fotowatio Renewable Ventures (FRV), is in talks to sell its 100-MW power project in India in a deal worth Rs 500-600 crore, according to two people aware of the development.

FRV is talking with various investors such as Macquarie Infrastructure and Real Assets (MIRA), green infra JV between PE fund Everstone Group & UK-based Lightsource BP’s Eversource Capital and Edelweiss Infrastructure Yield Plus Fund, said one of the persons cited above.

Sensex down in early trade due to negative global cues
Posted on 19th June 2018
Benchmark Sensex declined by over 148 points in early trade today, tracking a weak trend in global markets as the trade spat between the US and China intensified. Unabated capital outflows by foreign funds and profit-booking by retail investors too dampened sentiment. The 30-share index, which had lost 73.88 points in the previous session, drifted down by 148.34 points, or 0.42%, to 35,399.92.The NSE Nifty too was quoting lower by 52.55 points, or 0.49%, at 10,747.30.

Amazon's Jeff Bezos now world's richest with $141 billion net worth: Forbes
Posted on 19th June 2018
Amazon founder and CEO Jeff Bezos has become the richest man in the world with a net wealth of $141.9 billion, the Forbes World's Billionaires list showed on Monday.

Bezos' wealth has grown more than $5 billion since June 1 to beat Bill Gates, the principal founder of Microsoft Corporation, who is the second-richest man in the world with $92.9 billion.

Maharashtra govt's move to ban use of plastic puts RIL in recycle mode
Posted on 19th June 2018
The Maharashtra government’s decision in March to partially ban the use of plastic has put the country’s largest polymer producer in recycle mode. The Mukesh Ambani-led Reliance Industries (RIL) is now creating a platform for recycling, building a corpus and setting up a full-fledged sustainability team.

ICICI Bank appoints Sandeep Bakhshi as COO, Chanda Kochhar goes on leave
Posted on 19th June 2018
The board of ICICI Bank has appointed Sandeep Bakhshi whole-time director and chief operating officer (COO) to run the affairs of the private lender. Chanda Kochhar, managing director (MD) & chief executive officer (CEO) will be on leave, pending the probe.

The changes come amid allegations of a quid pro quo in transactions between Videocon Industries, Kochhar and her husband Deepak Kochhar’s company NuPower Renewables.

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