Business

Sensex trades flat during pre-noon session

SensexMumbai, Dec 17 : A benchmark index of Indian equities markets was trading flat at 80.51 points or 0.39 percent up during the pre-noon trade Tuesday.

Good buying was observed in healthcare, auto and IT sectors, while selling pressure was seen in banking index (bankex) sector.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 20,732.44 points, was trading at 20,740.03 points in the pre-noon session, up 80.51 points or 0.39 percent from previous day's close at
20,659.52 points.

The Sensex touched a high of 20,784.03 points, and a low of 20,731.54 points during the trade so far.

IndiGo to launch 10 new domestic flights

IndiGoNew Delhi, Dec 14 : Budget carrier IndiGo Saturday said that it will launch 10 new services on its domestic network from Dec 15, 2013.

"It gives me immense pleasure in announcing these new frequencies from Bengaluru, Chennai, Delhi, Goa, Hyderabad and Kolkata," said Aditya Ghosh, president and executive director, IndiGo.

"IndiGo is determined to provide the best travel experience to all those who wish to fly these destinations. We are looking at providing affordable fares on these new routes for 6E travellers.”

Next 2G spectrum auction from Jan 23: DoT

spectrum-auctionNew Delhi, Dec 13 : The next 2G (second generation) spectrum auction for 1,800 megahertz (MHz) and 900 MHz will start from Jan 23 next year, the Department of Telecommunications (DoT) has announced.

In a notice inviting applications (NIA) for taking part in the auction, DoT Thursday night said the last date for submission of applications by companies is Jan 4. The NIA was issued within three days of the Cabinet nod on the reserve price for the 2G spectrum auction.

The cabinet panel has given the nod to an earlier decision of the empowered group of ministers (EGoM) on spectrum pricing, taken in November.

Royal Mail ready to join FTSE 100 index

Royal MailUK's mailing service; Royal Mail is set to join the FTSE 100 index of blue-chip companies just two months after its floatation.

Royal Mail's shares increased more than 80 per cent since its debut on 15 October, 2013. The mailing service now has a market capitalisation of as much as £6 billion. It is beleived that the firm will enter the FTSE 100 Index soon. The business secretary, Vince Cable defended the listing price of the mailing service after a strong performance helped boost its share prices. The sale was priced at 330p a share and valued the firm at £3.3 billion.

Sensex sheds 150 points during pre-noon sessio

Sensex sheds 150 points during pre-noon sessioMumbai, Dec 12 : A benchmark index of Indian equities markets was trading down at 150.24 points or 0.71 percent in the pre-noon trade Thursday ahead of the retail inflation data later in the day.

The sectors which saw maximum selling pressure were banking index (bankex), oil and gas, metal and auto sectors.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 21,101.05 points, was trading at 21,021.17 points in the pre-noon session, down 150.24 points or 0.71 percent from the previous day's close at
21,171.41 points.

Yahoo acquires video streaming startup QuikIO

Yahoo acquires video streaming startup QuikIOWashington, Dec 11 : Yahoo has acquired cross-platform video streaming app called QuikIO.

In a farewell note to its users, the company said that after December 31, the "FedEx of media files" would be shut down.

Yahoo spokesperson confirmed that three employees from QuikIO have joined Yahoo's video team in Sunnyvale.

The spokesperson added that they were excited to welcome the team to Yahoo, but did not comment further on the deal terms or future plans, Pandodaily reports.

Dutch brewer Heineken becomes largest stake holder in UBL

heineken logoDutch brewer Heineken International has recently purchased an additional 1.35 per cent stake or 3.56 million shares in United Breweries Limited (UBL), becoming the largest stake holder in Vijay Mallya-led firm.

Heineken acquired the additional stake in UBL from Citicorp Finance India at Rs 772.90 a share on Tuesday this week. Following the purchase of the additional stake, the Dutch firm owns 38.76 per cent stake in the Indian brewer, as against its previous stake of 37.41 per cent.

Coal India fined Rs.1,773 crore for abusing market dominance

Coal-IndiaNew Delhi, Dec 10 : Fair practice watchdog Competition Commission of India (CCI) has penalised state miner Coal India Rs. 1,773.05 crore for abusing its dominant position, the corporate affairs ministry said Tuesday.

According to a release here, the final order was passed Monday on a batch of complaints filed by Maharashtra State Power Generation Co. (MAHAGENCO) and Gujarat State Electricity Corp (GSEC) against CIL and its subsidiaries Mahanadi Coalfields, Western Coalfields and South Eastern Coalfields.

Sensex trades flat during pre-noon session

Sensex trades flat during pre-noon sessionMumbai, Dec 10 : A benchmark index of Indian equities markets was trading flat at 82.18 points or 0.39 percent down in the pre-noon trade Tuesday.

Good buying was seen in IT sector. Selling pressure was observed in banking index (bankex), capital goods and power sectors.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 21,293.58 points, was trading at 21,244.24 points in the pre-noon session, down 82.18 points or 0.39 percent from previous day's close at
21,326.42 points.

FirstGroup to appoint John McFarlane as chairman

John McFarlaneFirstGroup, the operator of bus and rails in the UK, is expected to appoint John McFarlane as its next chairman soon.

John McFarlane, who has been working with Aviva, will replace company founder Martin Gilbert in the company. McFarlane has been working as the chairman of insurer Aviva since July 2012 and will be named as the chairman of FirstGroup chairman on Friday. John McFarlane has also worked as a non-executive director of Royal Bank of Scotland before joining Aviva.

Sensex breaches 21,000-mark

Bombay-Stock-ExchangeMumbai, Dec 5 : Led by good buying support in banking, capital goods and realty stocks, a benchmark index of the Indian equities markets soared past the 21,000-points-mark in pre-noon trade Thursday.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened sharply higher at 20,992.25 points, was ruling at 20,995.21 points in the afternoon session, up 1.38 percent or 286.50 points from its previous day close at 20,708.71 points.

Wipro to acquire US-based mortgage consulting firm Opus CMC

WiproBangalore-based software exporter Wipro on Monday confirmed that its had signed a definite agreement to acquire US-based mortgage consulting firm Opus Capital Markets Consultants LLC for $75 million (nearly Rs 466.5cr).

The acquisition Opus Capital will provide strength to Wipro's mortgage solutions and outsourcing business as well as help it improve its existing offerings in mortgage market.

Manoj Punja, Senior Vice President and Head of BPO at Wipro, said, "This acquisition will help us expand in the high end Mortgage BPO segment, and brings differentiated capability with a platform-based risk management offering."

Jet fuel price hiked by nearly one percent

Jet fuel price hiked by nearly one percentNew Delhi, Nov 30 : India's largest fuel retailer Indian Oil announced a 0.81 percent increase in the price of jet fuel in New Delhi region, effective from midnight Saturady.

According to IOC, the aviation turbine fuel (ATF) will cost airlines 0.81 percent more at New Delhi - Rs. 74,204.74 per kilolitre from Rs. 73,607.26 per kilolitre.

The fuel price difference in other major cites will be decided by factoring in the state tax regimes applicable.

Sensex gains 138 points during pre-noon session

Sensex-GainsMumbai, Nov 28 : A benchmark index of Indian equities markets gained 137.78 points or 0.67 percent in the pre-noon session Thursday.

Good buying was observed in capital goods, oil and gas, and auto sectors, while marginal selling pressure was seen in IT sector.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 20,522.36 points, was trading at 20,558.04 points in the pre-noon session, up 137.78 points or 0.67 percent from the previous day's close at 20,420.26 points.

Sensex trades flat during pre-noon session

Sensex trades flat during pre-noon sessionMumbai, Nov 27 : A benchmark index of Indian equities markets was trading flat at 34.33 points or 0.17 percent down in the pre-noon session Wednesday.

Good buying was observed in auto and consumer durables sectors, while selling pressure was seen in banking index (bankex) and healthcare sectors.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 20,449 points, was trading at 20,390.69 points in the pre-noon session, down 34.33 points or 0.17 percent from the previous day's close at
20,425.02 points.

IndiGo to focus on regional market

IndiGo to focus on regional marketIndiGo, India's largest airline by market share, has indicated that it will increasing looking for regional market in the country to attract more customers. Rahul Bhatia, the promoter of of the airline, has said on saturday that the company will enter tier-II and tier-III markets with smaller aircraft.

The focus will be a new shift in the company's strategy of deploying single-type of aircraft and focusing on bigger metro cities in India. Bhatia, who is working as the managung director of Inter-Globe Enterprises, said that there is a potentail in the regional market.

Sensex sheds 400 points, banking scrips lose

Sensex sheds 400 points, banking scrips loseMumbai, Nov 21 : A benchmark index of Indian equities markets closed more than 400 points or 1.97 percent lower Thursday.

Selling pressure was seen in banking, capital goods, metal, oil and gas and healthcare sectors. All sectoral indices closed in red.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened at 20,579.26 points, closed at 20,229.05 points, down 406.08 points or 1.97 percent from its previous day close at 20,635.13 points.

The Sensex touched a high of 20,579.26 points and a low of 20,189.23 points intra-day.

Sensex sheds 256 points, banking scrips plunge

Sensex-shedsMumbai, Nov 20 : Losing its three days' winning streak, a benchmark index of Indian equities markets closed 256 points or 1.22 percent lower Wednesday.

Selling pressure was seen in banking, auto, capital goods, healthcare and oil and gas sectors, while only the metal sector observed some positive trading.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened at 20,857.01 points, closed at 20,635.13 points, down 255.69 points or 1.22 percent from its previous day close at 20,890.82 points.

The Sensex touched a high of 20,895.30 points and a low of 20,579.94 points intra-day.

FIPB clears 20 FDI proposals worth Rs 916 crore

FIPBTwenty foreign direct investment (FDI) proposals worth Rs 916 crore, including Rs 305-crore Tata-Singapore Airlines joint venture proposal, have been approved by the Foreign Investment Promotion Board (FIPB).

M&M subsidiary to launch automotive steel JV in India

Mahindra INTERTRADEMahindra Intertrade Ltd, a wholly-owned subsidiary of utility vehicle maker Mahindra & Mahindra (M&M), has announced its decision to launch an automotive steel joint venture (JV) in India.

The planned venture will be started in partnership with the Taiwan-based China Steel Global Trading Corp and Singapore-based Mitsui & Co (Asia Pacific) Pte Ltd at Chakan, near Pune.




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