Business

Sensex up 200 points; Infosys surges on good earnings

Sensex-upMumbai, Oct 11 : A benchmark index of the Indian equities markets rose 216 points Friday led by strong rally in IT stocks after Infosys announced good quarterly numbers and raised revenue forecasts.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened sharply higher at 20,535.90 points, was trading at 20,489.40 points in the afternoon, up 1.07 percent or 216.49 points from its previous day close at 20,272.91 points.

The benchmark Sensex touched a high of 20,559.69 points and low of 20,368.06 points in the intra-day.

Royal Mail shares to begin trading today

Royal Mail shares to begin trading todayThe shares of UK's mailing service, the Royal Mail will begin conditional trading priced at 330p on the stock exchange as investors expect the price of the shares to rise further.

The demand for the shares has been higher than supply and the individual investors have been limited to £750 worth. About 690,000 people have applied for shares till £750 worth and 35,000 who applied for shares worth more than £10,000 will not be allotted shares. Investors are expressing strong interest in acquiring the shares of the Royal Mail.

Sensex jumps 266 points on positive trade data

Bombay-Stock-ExchangeMumbai, Oct 9 : A benchmark index of the Indian equities markets jumped 266 points Wednesday on good buying support in banking, realty and capital goods stocks as better-than-expected trade deficit data boosted investors' sentiments.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened in the negative at 19,918.20 points, ended the day at 20,249.26 points, up 1.33 percent or 265.65 points from its previous day close at 19,983.61 points.

Apollo shares jump on renegotiation of $2.5bn Cooper deal reports

apollo tyreExtending its Monday's 5 per cent rally, Apollo Tyres stock enjoyed another considerable gain in morning trade on Tuesday, on reports that the Indian tyre-maker is looking to renegotiate the terms of $2.5-billion Cooper Tire & Rubber Co acquisition deal.

The Indian tyre-maker recently said that the proposed deal to acquire the American tyre-maker might burden it with huge, unanticipated costs well beyond those it was obligated to bear under the original merger agreement. It also claimed that Cooper had acknowledged to it that some price decrease was warranted.

Japan Airlines sign $9.5 bn deal with Airbus

Japan Airlines sign $9.5 bn deal with AirbusParis, Oct 8 : Japan Airlines (JAL) has signed a contract to buy 31 Airbus A350 XWB aircraft worth $9.5 billion, the European aircraft manufacturer Airbus announced Monday.

JAL's first-ever order of Airbus aircraft include 18 A350-900s and 13 A350-1000, plus options for a further 25 aircraft, reported Xinhua citing the firm in a statement.

"We welcome Japan Airlines as a new Airbus customer and feel honored by this first-ever order from Japan for our all-new A350," said Fabrice Bregier, president and CEO of Airbus.

Bombay Dyeing jumps as much as 16% on stake sale report

Bombay Dyeing jumps as much as 16% on stake sale reportBombay Dyeing shares gained as much as 16 per cent in early morning trade on Monday after some reports suggested that some global private equity companies have expressed their interest in acquiring a stake together in the Indian company.

Citing anonymous sources, news agency PTI said at least three global private equity companies have plans to acquire up to 24 per cent stake in Bombay Dyeing. The report also said that the potential acquirers are ready to pay more than Rs 500 crore for the stake.

FDI policy can’t be company specific: Anand Sharma

FDI policy can’t be company specific: Anand SharmaReacting to Walmart's comment that its partnership with Bharti is "not tenable," Commerce & Industry Minister Anand Sharma on Sunday declared that foreign direct investment (FDI) policy can not be company specific.

Average deposit for buying home falls 75% to £11,108

Home FallFollowing the roll out of government's Help-to-Buy scheme, the average deposit required for buying a new home has fallen around 75 per cent to 11,108 pounds allowing more people to acquire homes in the country, according to estimates from property website Zoopla.

Jet-Etihad alliance positive for industry, says Ajit Singh

Ajit-SinghNew Delhi, Oct 4 : Terming the Jet-Etihad deal as a positive for the struggling Indian civil aviation sector, Civil Aviation Minister Ajit Singh Friday said the alliance will provide passengers multiple options and open possibilities of India becoming a travel hub.

"This alliance between Jet-Etihad is positive for the industry. It will ultimately benefit the passengers and grow the sector further," Singh told IANS.

New car sales in Britain hit five-year high

New car sales in Britain hit five-year highLondon, Oct 4 : New car sales in Britain continued to rise in September, hitting a record high in five years, according to figures released Friday by the car traders organisation.

The Society of Motor Manufacturers and Traders (SMMT) said, the new car registrations in September surged 12.1 percent to reach 403,136 units, boosted by strong private demand which rose to 16.7 percent year-on-year in the month. This helped overall market to rise by 10.8 percent, reports Xinhua.

Amazon calls new French bill 'discriminatory against online consumers'

Amazon calls new French bill 'discriminatory against online consumers'London, Oct 4 : Amazon has reportedly called France's new bill that supports independent bookstores against competition from web-based retailers, as a discrimination against online consumers.

Under the new bill, companies like Amazon are restricted from offering combined 5 percent reductions and free deliveries.

According to the BBC, France's 3,000 independent bookshops had complained they can't compete with cut-price offers online.

ONGC to start shale gas commercial production next year

ONGC to start shale gas commercial production next yearNew Delhi, Oct 4 : State-run explorer Oil and Natural Gas Corp (ONGC) is to start commercial production of shale gas sometime next year, its Chairman Sudhir Vasudeva said Friday.

"We are planning to drill 10 wells this year and hope to start commercial production next year," Vasudeva said at an oil and gas conference here organised by the Indian Chamber of Commerce (ICC).

Infosys to manage Toyota's IT services in Europe

Infosys-ToyotaBangalore, Oct 3 : Infosys Ltd Thursday signed a multi-year contract with Japanese auto major Toyota Motor to manage its IT services in Europe.

"The four-year deal envisages deployment of a managed service model, covering applications across Toyota's operational areas in Europe, including automotive processes to enable its IT employees focus on business and project development," the global software major said in a statement here.

The IT bellwether has been a key partner of Toyota for its pan-European projects and transformation delivery services.

Tata Power begins work on 400MW hydel project in Georgia

Tata-PowerNew Delhi, Oct 3 : Tata Power Thursday announced it has begun construction work for the first phase of its joint venture 400 MW hydro-power project in Georgia.

In a press release here, the company said the ground-breaking ceremony for construction of the first phase of 185 MW of the Shuakhevi hydropower project was recently performed by Georgian Prime Minister Bidzina Ivanishvili.

The project would be jointly developed by Tata Power along with Clean Energy Invest AS, Norway (Clean Energy) and IFC InfraVentures (IFC).

The power generated by the plant is projected for sale primarily to Turkey, Tata Power said.

Skoda launches Octavia's third generation model

Skoda-OctaviaNew Delhi, Oct 3 : Czech automobile manufacturer Skoda Thursday reintroduced its luxury sedan Octavia by launching the passenger vehicle's third generation version, priced between Rs. 13.95 lakh and Rs. 19.45 lakh.

The vehicle was discontinued after 2010, as the second generation version did not meet the emission requirements.

"The Octavia had launched Skoda back in 2001 and today the Indian market is a key component in Skoda's global plans," Sudhir Rao, managing director, Skoda Auto Indi, a said.

NSEL promoters summoned for questioning

NSEL promoters summoned for questioningThe promoters of National Spot Exchange Ltd (NSEL) have been summoned by the Economic Offences Wing of Mumbai Police for questioning related to the alleged Rs 5,600-crore scam at the bourse.

A senior official from the Economic Offences Wing of Mumbai Police, which is investigating the alleged scam, revealed that many promoters including Jignesh Shah, defaulting brokers as well as some senior officials, were summoned for questioning.

Three new Emirates flights in four continents

Three new Emirates flights in four continentsDubai, Oct 1 : Emirates Airline has launched a new flights to Clark in the Philippines, inaugurated a route between Milan and New York and started a brand new A380 service to Brisbane - all on the same day in four different continents.

First to take off from Dubai International at 4.40 a. m. Monday was a Boeing 777-200LR bound for Clark International in the Philippines. This was followed by the Italy flight at 9.05 a. m. for Milan where the Boeing 777-300ER stops before embarking on a brand new trans-Atlantic connection to New York.

Hyundai's September sales down 4 percent

Hyundai's September sales down 4 percentNew Delhi, Oct 1 : Hyundai Motor India Tuesday reported a four percent fall in sales in September, which stood at 51,418 units as compared to 53,557 units sold in the corresponding month of 2012.

"In the current market scenario volume growth is a big challenge. We expect the market challenges to continue and have a cautious optimism for upcoming festive season," said Rakesh Srivastava, senior vice president (sales and marketing), Hyundai Motor India.

Hero MotoCorp's September sales up 16 percent

Hero-MotoCorpNew Delhi, Oct 1 : Two-wheeler maker Hero MotoCorp Tuesday reported a 15.8 percent growth in September sales at 468,670 units from 404,787 units sold in the corresponding month of last year.

According to the company, its sales in the second quarter of 2013-14, grew by 6.3 percent at 1,416,211 units from 1,332,805 units sold in the corresponding quarter of the previous fiscal.

"Our performance in September is a result of the strong retail growth we have reported throughout the first half of this financial year," Anil Dua, senior vice-president, marketing and sales, Hero MotoCorp, said in a statement.

Maruti Suzuki September sales up 11 percent

Maruti-SuzukiNew Delhi, Oct 1 : Maruti Suzuki Tuesday reported an 11.7 percent rise in its September sales which rose to at 104,964 units from 93,988 units sold in last year's corresponding month.

Exports during the period under review zoomed 180.8 percent, 14,565 units from 5,187 units shipped overseas during the same month of 2012.

Domestic sales were up 1.8 percent to 90,399 units during the month under review from 88,801 units sold in September 2012.

Mini-car segment that includes M800, Alto, A-Star and WagonR grew 4.9 percent at 41,061 units from 39,150 units sold in the same month of 2012.




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