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Myanmar government has decided to open up the project for other foreign firms besides China Communications Construction Company (CCCC), as it is not keen that one single company dominates the mega project, according to people aware of the matter.
Nifty futures on the Singapore Exchange traded 38 points, or 0.34 per cent higher at 11,139, in signs that Dalal Street was headed for a positive start on Friday.
Dr Pathlabs, Tata Chemicals, JSW Energy, Ujjivan SFB and Godrej Agrovet are among companies which will declare June quarter results on Friday.
Net profit excluding the exceptional item in the April-June quarter was Rs 8,282 crore, 18 per cent more than street expectations but down from Rs 10,141 crore a year ago as lockdowns ravaged various sectors of the economy.
The move bucks a trend among big U.S. tech companies that have mostly refused to split their shares, resulting in sky-high prices. Alphabet Inc. stock costs more than $1,500, and Amazon.com Inc. trades above $3,000, effectively disqualify the companies from the Dow.
JSW Energy, Ujjivan SFB and Godrej Agrovet are among companies which will declare June quarter results on Friday.
"Signs of the wheels of the economy beginning to churn are evident from the following facts: unemployment rates have tapered down from their peaks in May, e-toll collections are higher, as are e-way bills, digital transactions and GST collections which are back to the Rs 90,000 crore levels.
The retail-to-oil conglomerate, for example, mopped up Rs 1,250 crore for three months at 3.4 per cent. The rate is 45 basis points lower than its previous CP sale in May last week. One basis point is 0.01 percentage point.
The Bank Nifty underperformed the index on concerns over the impact of coronavirus pandemic on the economy and businesses. The Bank Nifty gained 0.65 per cent in the July series and provisionally saw rollovers of 63.5 per cent compared to 80.6 per cent in the June series and three-month average of 81.1 per cent.
The pressure to “reopen” in such countries is also greater. Large nations do well economically because they have big, interdependent and diverse internal markets. Consequently, they can ill afford to have those supply chains broken for long.
“At present everything is in a state of pandemonium,” Hemant Kanoria, chairman of Srei Infrastructure Finance Ltd. in Kolkata, said, while seeking a one-time recast of loans for construction firms, clearance of dues owed by the government and faster resolution of disputes to ease cash flow. “Otherwise everyone is dead.”
The Mistry fraction has alleged that one of the trustees, A Soonawala was informed specifically of Tata Motors rights issue, a piece of price-sensitive information, even when he was not part of the company. The trustees have said that the whole narrative about interference and sharing of insider information has been invented and concocted now in this litigation.
The lenders will now approach the National Company Law Tribunal (NCLT) with a formal request to initiate liquidation proceedings. The company's assets are in the custody of the Enforcement Directorate after Modi was charged with offences under the Prevention of Money Laundering Act and the Fugitive Offenders Act.
Bountiful rainfall in June prompted farmers to speed up crop planting, which remains much higher than this time last year, but farmers who sowed oilseeds, pulses, cotton and coarse grain in areas with erratic rainfall are beginning to worry.
Early in the day second-quarter Gross Domestic Product (GDP) data showed the U.S. economy suffered its steepest contraction since the Great Depression, as business activity came to a halt due to lockdowns aimed at fighting the pandemic.
Local brokerages, ICICI Securities Ltd. and Geojit Financial Services Ltd., have gained more than 17% this year while the 103-member S&P BSE Finance Index slumped 26%.
The study forecasts not only a sharp rise in demand for health insurance products over the upcoming months but also an increased influence of digital modes for insurance purchases.
The unchanged policy setting together with a pledge the Fed would use its "full range of tools" if needed boosted risk appetite overnight with all three Wall Street indexes finishing firmer.
The drug developed by Moscow’s Gamaleya Institute and the Russian Direct Investment Fund may be approved for civilian use within three to seven days of registration by regulators, according to a person familiar with the process, who asked not to be identified because the information isn’t public.
Twenty Indian soldiers and unknown number of Chinese troops were killed in an ugly skirmish on June 15 and since then, both sides have rushed soldiers, artillery and tanks to the region. With border agreements not holding, the situation requires additional troops, and the nature of the LAC, at least in Ladakh, has changed forever, says an expert.
In a public notice, Yes Bank said it has issued notice to Reliance Infrastructure under the SARFAESI Act to recover its dues and after the company failed to repay the debt, it has issued the possession notice and warned public from dealing with these properties.
The study captures shareholding changes in companies where they hold over 1 per cent. Jhunjhunwala figures among shareholders of mid-caps such as Autoline Industries, Dishman Carbogen and Indian Hotels.
Nifty futures on the Singapore Exchange traded 19 points, or 0.17 per cent lower at 11,215, in signs that Dalal Street was headed for a tepid start on Thursday.
It makes sense to have a look at the corporate agendas for the day’s as announced to the stock exchanges.
Rajan said that after Covid, there was a tendency to take a stand that this is a new kind of situation and requires a new kind of process and therefore cases cannot be referred under the Insolvency and Bankruptcy Code (IBC).
NTPC said it will raise Rs 1,000 crore on July 31 through issuance of bonds on private placement basis for funding capital expenditure..
Yes Bank, which faced a crisis in March this year on account of bad debts, has substantial loans due from the Anil Ambani group, to which it had an exposure of close to Rs 12,000 crore. In the last two decades, the Anil Ambani group expanded aggressively in new businesses raising high levels of debt.
The three-hour long meeting, held via video-conferencing, was attended by CEOs of large public and private sector banks along with heads of non-banking financial companies (NBFCs).
Even as they ensure it’s business as usual with all necessary infrastructure and systems in place, companies across sectors say that productivity, while working from home, is high. With the pandemic continuing to rage, they will only bring back staff whose presence in the office is critical.
"And it is possibly the biggest curtain warmer to the most critical fourth quarter for stock markets ever." .
Nifty futures on the Singapore Exchange traded 8.5 points, or 0.08 per cent higher at 11,293, in signs that Dalal Street was headed for a flat start on Tuesday.
Data released in the morning showed U.S. consumer confidence ebbed in July as coronavirus infections flared up across the country. The Dow Jones Industrial Average fell 205.49 points, or 0.77%, to 26,379.28
Nyrika Holkar said the coronavirus crisis has created opportunities that play up to the core strength of G&B as an engineering company. To tap these, the company has ramped up manufacturing of hospital and ICU beds and electro-magnetic valves, a critical component for ventilators.
"Then once President Xi kind of named himself king, they got very aggressive. They got very bullish. They started to kind of point their fingers in countries' faces saying, you'd better vote with us. They started to be very aggressive at the UN in wanting positions and wanting to have leadership roles. And they started talking down to everyone," Haley alleged.
GSK Pharma, Mahindra Lifespace, Manappuram Finance and TVS Motor will announce June quarter earnings today.
US-based hedge fund Route One, which last week received the Reserve Bank of India’s approval to raise its stake in the bank to 10 per cent, will subscribe to a chunk of the issue, investing Rs 935 crore, followed by Rs 850 crore from ICICI Prudential Life Insurance.
ET has learnt that the officials made a presentation on “Encouraging investments- the challenges and opportunities for India post Covid-19”. They further said the travel and tourism industry has been hit due to Covid-19 and it has affected lakhs of employees and their families.
Optional postal ballot voting facility will be provided to those above 80 years, persons with disability. The SVEEP (systematic voter education and electoral participation) strategy is being modified to ensure that ‘no voter is left behind’.
A more than five-fold jump in provisions weighed on IndusInd Bank net profit for the June quarter
"It is wrong on the part of the CM to say that I am not calling the session because I am under someone’s pressure. I am not working under anyone’s influence. My only master is the Constitution of India and I am following it," says Rajasthan governor Kalraj Mishra
Data released in the morning showed U.S. consumer confidence ebbed in July as coronavirus infections flared up across the country. The Dow Jones Industrial Average fell 205.49 points, or 0.77%, to 26,379.28
The auto giant admitted in 2015 to cheating emissions tests on 11 million vehicles worldwide. Software built into motors made the cars appear to spew fewer harmful pollutants in the lab than on the road. The international scandal -- known as "dieselgate" -- has tarnished Volkswagen's image ever since.
Democrats, who are backing their own $3.5 trillion stimulus bill already passed by the House, said that only when the GOP united on its own plan could talks begin about a bipartisan compromise.
Both countries already have suffered heavy losses in a tariff war that erupted in 2018 over Beijing's technology ambitions and trade surplus. If talks on ending the dispute fail, the world could face downward pressure on trade at a time when the global economy is already reeling from the coronavirus pandemic.
Nations around the globe are announcing new travel curbs amid a fresh wave of the coronavirus, a setback to hopes for a "V" shaped economic recovery.
Industry sources said CGS-CIMB may have decided to move out as they have not been able to scale up the business. With competition intensifying and revenues shrinking, many smaller institutional brokers are struggling to make profits.
Nifty futures on the Singapore Exchange traded 76.5 point, or 0.69 per cent higher at 11,195, in signs that Dalal Street was headed for a positive start on Tuesday.
It makes sense to have a look at the corporate agendas for the day’s as announced to the stock exchanges.
The two companies have entered into exclusive discussions for the next six-eight weeks, said sources briefed on the matter, as they look to finalise terms. The deal, if successful, will create an NBFC with a loan book of over Rs 6,000 crore with a focus on the consumer lending segment.
The market cap of the ‘A’ group stocks grew by 32 per cent, while that of the ‘B’ group stocks rose by around 16 per cent during the period. The ‘A’ group of companies reported a 9.5 per cent annual increase in their market cap over the past decade, much higher than the 5.2 per cent growth of their ‘B’ group counterparts.
