Tag: Sensex

Copper futures up on rising demand

Copper futures up on rising demand

18/09/2017 17:37

Copper futures were trading higher during the evening trade in the domestic market on Monday amid a firming global trend and pick up in spot demand.

Marketmen attributed the rise in copper futures to a firming trend in base metals in global market as housing data from China showed continued gains for prices. Rising demand from consuming industries at domestic spot markets supported the upside, they said.

At the MCX, copper futures for November 2017 contract was trading at Rs 423.95 per kg, up by 0.92 per cent, after opening at Rs 421.90, against a previous close of Rs 420.10. It touched the intra-day high of Rs 425.20 (at 17:40 hours).

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Lead futures dip on subdued demand

Lead futures dip on subdued demand

14/09/2017 17:01

Lead futures were trading lower during the evening trade in the domestic market on Thursday as participants reduced their exposure amid subdued demand from consuming industries in the spot market.

Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets.

At the MCX, lead futures for September 2017 contract is trading at Rs 144.45 per kg, down by 1.06 per cent, after opening at Rs 146.40, against a previous close of Rs 146. It touched the intra-day low of Rs 144.20. (at 17:02 hours).

Wipro dips 5% as stock turns ex-date for buyback

Wipro dips 5% as stock turns ex-date for buyback

14/09/2017 12:15

Shares of Wipro tumbled nearly 5 per cent on the Bombay Stock Exchange after the stock turned ex-date for the proposed buyback today.

As on September 1, 2017, the company has fixed September 15, 2017 as the record date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the buyback.

Weighed down by the development, shares of the company declined as much as 4.88 per cent to trade at intra-day low of Rs 281.60 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the company were trading 4.21 per cent lower at Rs 283.45 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 32,196.40, up 9.99 points, or 0.03 per cent, at 12:15 hours.

Godrej Industries up 4% as arm gets Sebi nod for IPO

Godrej Industries up 4% as arm gets Sebi nod for IPO

12/09/2017 12:46

Shares of Godrej Industries jumped over 4 on the Bombay Stock Exchange after its arm Godrej Agrovet got Sebi’s approval to raise nearly Rs 1,000-1,200 crore through public listing of stocks.

Cheering the news, shares of the company gained as much as 4.20 per cent to hit an intra-day high of Rs 658.35 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the company were trading 2.83 per cent higher at Rs 649.30 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 32,049.22, up 167.06 points, or 0.52 per cent, at 12:50 hours.

Mentha oil futures down on easing demand

Mentha oil futures down on easing demand

06/09/2017 17:02

Mentha oil futures were trading lower during the evening trade in the domestic market on Wednesday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, exiting of bets by traders in the spot market was due to a fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions.

At the MCX, mentha oil futures for September 2017 contract was trading at Rs 1179 per kg, down by 0.10 per cent, after opening at Rs 1179, against the previous closing price of Rs 1180.20. It touched the intra-day low of Rs 1167.60. (at 17:05 hours).

Yellow metal climbs on firm global trend

Yellow metal climbs on firm global trend

04/09/2017 13:23

Gold futures were trading in the red in the domestic market on Monday as after speculators raised their bets, tracking a firm global trend.

Analysts attributed the rise in gold prices at the futures trade here to a firm trend overseas where it hit 10-month high on escalating geopolitical tensions after North Korea’s latest nuclear test drove investors towards safe-haven assets.

At the MCX, gold futures for October 2017 contract was at Rs 30214 per 10 grams, up by 1.31 per cent, after opening at Rs 30011 against a previous close of Rs 29823. It touched the intra-day high of Rs 30267 (13:22 hours).

RIL up over 1% on plans to raise fund via NCDs

RIL up over 1% on plans to raise fund via NCDs

31/08/2017 12:05

Shares of Reliance Industries rose over 1 per cent on the Bombay Stock Exchange after Mukesh Ambani-led company said it will make an offer for issuing nonconvertible debentures (NCDs) worth Rs 2,500 crore next week.

Buoyed by fund raising plans, shares of the company gained as much as 1.52 per cent to hit intra-day high of Rs 1588.00 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 1583.95 against previous close price of Rs 1564.15.

In a similar fashion, shares of the company were trading 1.28 per cent higher at Rs 1,584.10 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 31,569.70, down 76.76 points, or 0.24 per cent, at 11:55 hours.

Mentha oil futures down on subdued demand

Mentha oil futures down on subdued demand

24/08/2017 17:08

Mentha oil futures were trading lower during the evening trade in the domestic market on Thursday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, exiting of bets by traders in the spot market was due to a fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions.

At the MCX, mentha oil futures for August 2017 contract was trading at Rs 1159 per kg, down by 2.03 per cent, after opening at Rs 1179.20, against the previous closing price of Rs 1183. It touched the intra-day low of Rs 1150. (at 17:15 hours).

High GST may taper leasing industry growth

High GST may taper leasing industry growth

16/08/2017 11:11

The estimated Rs 5500 crore capital good leasing sector growing at 15-20 per cent may get tapered due to high Goods and Services Tax (GST) along with few other issues, reported PTI.

“The GST rate of 28 per cent is high for the leasing industry when compared to the earlier five to 15 per cent tax burden. Higher GST rates lead to requirement of higher working capital at any point of time. This results in increasing the cost of leasing an equipment,” Finance Industry Development Council director general Mahesh Thakkar told PTI.

“The government should actively consider not bracketing the capital goods in the same GST bracket as luxury goods and sin goods. A lower GST rate will help increasing share of leasing in gross capital formation,” he said.

The share of leasing in gross domestic capital formation in India is less than two per cent whereas the global average is 10 per cent, he said.

The same could also create hurdles for the foreign companies in India since they believe that leasing is the most preferred method of owing assets for operation, an NBFC official said.

Apart from GST rates, there are other issues like input tax credit, penal interest/charges for delayed remittance of EMI and sale of repossessed assets which needs to be corrected.

“Till now there is no response from the government on our representation,” he said.

Both pointed out that the issue will have a severe impact on capital-starved SME players who will face major hardship due to this.

Construction equipment, wagons, heavy machinery, car leasing among others are expected to face hurdles in new regime.

Leasing in India is just three per cent of global volumes and if taxation issues are not addressed, this will effectively be a death blow to leasing even before it makes a comeback in India, a equipment company official said.

Gold up on safe-haven demand

Gold up on safe-haven demand

10/08/2017 17:34

Gold futures were trading in the green in the domestic market on Thursday due to the safe haven demand triggered by the rising tension in the Korean peninsula.

At the MCX, gold futures for October 2017 contract is trading at Rs 29079 per 10 grams, up by 0.81 per cent, after opening at Rs 28900, against a previous close of Rs 28844. It touched the intra-day high of Rs 29084 (at 17:32 hours).