Rajesh Exports Limited received new export from Germany, Europe
Jain Irrigation plunges 26% after India Ratings cut long term issuer rating
Mahindra announces price increase for personal range of vehicles
L&T Construction awarded (Significant*) contract for water supply and distribution in Sri Lanka
MH Power Minister says any excess tariff charged by Adani Power to be adjusted
HCL Technologies and Cricket Australia announce a multi-year partnership
Securities Appellate Tribunal puts stay on SEBI orders on NDTV promotoerss
Hong Kong's protests diffuse, Lam declares end of extradition bill
Benchmark indices Sensex and Nifty, after a positive start on Wednesday, traded volatile in the afternoon session. Sensex ended today's trade at 39,112, up by 66 points, while Nifty ended flat at 11,691 level.
Rajesh Exports Limited received new export order worth Rs 942 crores from Germany, Europe. The said order is to be completed by August 2019.
The filed statement read, "the company had introduced new designs in the international markets which constitute a new range of jewellery. The special significance of this order is the acceptance of the company's new range of jewellery in the global markets."
The co. added that it will be executing the order from its own manufacturing facility, which is the world's largest jewellery manufacturing facility and has a processing capacity of 250 tons of jewellery and gold products per annum.
India Ratings and Research said it has downgraded Jain Irrigation Systems' Long-Term Issuer Rating to BBB from A-; while placing it on Rating Watch Negative (RWN).
Mahindra & Mahindra has announced an increase in prices of its models by up to Rs 36,000 from July 1 due to the implementation of AIS 145 Safety Norms across all kinds of passenger vehicles in India. The new emission laws come into effect from April 1, 2020.
"Mahindra SUVs that will take a substantial price increase are the Scorpio, Bolero, TUV300 and KUV100NXT, while brands such as the XUV500 and Marazzo will increase prices marginally," the company said in a statement.
Read more: Now pay up to Rs 36,000 more for Mahindra Scorpio, Bolero, Marazzo; find out why
L&T Construction announced today that an EPC order has been bagged from the National Water Supply Et Drainage Board for the execution of the Kundasale Haragama water supply project in Sri Lanka's Kandy district.
"The project scope includes design, construction, commissioning and 0&M of an intake structure, 55 MLD water treatment plant, 73 km of transmission mains, 19 Service Reservoirs of total capacity 16.2 ML, 9 Pump Houses, 280 Kms. distribution mains and associated electrical, mechanical & instrumentation works. The project also involves automation including measurement of input & output water quantity through suitable SCADA & other instrumentation works," the filing stated.
The filing further added that co. Geo Structure arm has secured an order from BPCL for ground improvement of tank foundation area, using stone columns of 800mm dia and around 1.6 lakh RM, at Krishnapatnam, Andhra Pradesh. The business has also secured an order from CMRL for construction of balance works of cut and cover section in the Phase 1 extension works.
Maharashtra Minister Chandrashekhar Bawankule Wednesday said he is likely to soon get a report on the alleged high tariff of Adani Electricity, supplying power to Mumbai suburbs, and that any excess amount charged from consumers will be adjusted in future bills.
Shares of Adani Power, fell down to Rs 44.30 against the last close of Rs 46.85, following the news.
Brent crude, the global oil benchmark, traded below 62 per barrel against the dollar and then fell further to 61.86 per barrel against the dollar, down by 0.28 points or 0.45%. The NYMEX was down at 53.81.
HCL Technologies announced the bourses that the co. has been selected by Cricket Australia as Digital Technology Partner Partnership, for delivering world class experiences to fans, players, clubs and grass roots cricket ecosystem.
The filing added," HCL will implement its Scale Digital methodology to enable Cricket Australia to unite and inspire their cricket community through advanced digital platforms."
The leading global technology company, will help the Australian cricket's governing body provide an elevated and immersive digital experience to cricket fans, players, partners, employees, and volunteers across the country and around the world, through CA's digital offerings.
NDTV informed the exchanges today that Securities Appellate Tribunal in the hearing on June 18, 2019, observed that the restraint imposed on Dr. Prannoy Roy and Mrs. Radhika Roy from occupying the position of director or key managerial personnel in NDTV for a period of 2 years is not in the interests of the shareholders or, investors in NDTV, and granted a stay on the operation and ettect on the impugned order.
RRPR Holding Private Limited. Dr. Prannoy Roy and Mrs. Radhika Roy, ech had appealed to SAT against the order of the Securities Exchange Board of India (SEBI) of June 14, 2019.
"The appeals have been set down for final hearing on 16'h September 2019. The Securities Appellate Tribunal also directed that in the interregnum, the appellants shall not alienate or create encumbrance on their shareholding in NDTV," the statement further added.
Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on the Bank for non-compliance with directions issued by RBI on KYC/ Anti-Money Laundering (AML) norms and on reporting of frauds.
The bank announced that the penalty has been imposed in exercise of powers vested in RBI under Banking Regulation Act, 1949. "The Bank has taken necessary measures to strengthen its internal control mechanisms so as to ensure that such incidents do not recur," the filing further added.
BPCL subsidairy, Bharat Petro Resources announces a Final Investment Decision (FID) on the two-train Area I Mozambique LNG project. BPRL Ventures Mozambique B.V., an overseas subsidiary of BPRL, holds 10% Participating Interest (Pl) in the Area I concession.
The fling further added, "Area I Mozambique LNG project will be Mozambique's first onshore LNG development, initially consisting of two LNG trains with total nameplate capacity of I 2.88 million tonnes per annum (MMTPA) to support the development of the Golfinho-Atum field located entirely within Offshore Area I. The project has secured in aggregate 11 .1 MMTPA of long-term LNG sales with key LNG buyers in Asia and in Europe. Additionally, the project will have a significant domestic gas component for in-country consumption to help fuel future economic development. "
Hong Kong leader Carrie Lam on Tuesday signalled the end of a controversial extradition bill that she promoted and then postponed after some of the most violent protests since the former British colony returned to Chinese rule in 1997.
Quoting Hong Kong leader Carrie Lam, âAfter this incident, I think work in the next three years will be very difficult, but myself and my team will work harder to rebuild public confidence.â
Hong Kong leader signals end to extradition bill but refuses to quit https://t.co/VNkHUNQyH6pic.twitter.com/hjXgOKJT3p
— Reuters India (@ReutersIndia) June 18, 2019
Hong Kong leader signals end to extradition bill but refuses to quit https://t.co/VNkHUNQyH6pic.twitter.com/hjXgOKJT3p
— Reuters India (@ReutersIndia) June 18, 2019
Wall Street pushes higher on trade hopes, dovish Fed bets https://t.co/XJE25uFvxKpic.twitter.com/gAkb6MFLOg
— Reuters India (@ReutersIndia) June 18, 2019
Wall Street pushes higher on trade hopes, dovish Fed bets https://t.co/XJE25uFvxKpic.twitter.com/gAkb6MFLOg
— Reuters India (@ReutersIndia) June 18, 2019
The Fed begins its two-day policy meeting on Tuesday, and will issue a new statement and economic projections at 2 p.m. (1800 GMT) on Wednesday.
The Fed begins its two-day policy meeting, and will issue a new statement and economic projections. Read more: https://t.co/aYrOu6qXxMpic.twitter.com/uRqarjQyhI
— Reuters Business (@ReutersBiz) June 19, 2019
The Fed begins its two-day policy meeting, and will issue a new statement and economic projections. Read more: https://t.co/aYrOu6qXxMpic.twitter.com/uRqarjQyhI
— Reuters Business (@ReutersBiz) June 19, 2019
Oil prices rose more than $1 a barrel on Tuesday after news that China and the United States were resuming trade talks ahead of a meeting at the G20 summit later this month.
âHad a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting,â U.S. President Donald Trump tweeted.
Oil climbs 3% on hopes U.S.-China trade talks resume, Mideast tension https://t.co/VV1pjMTUDjpic.twitter.com/vEG0rtURTJ
— Reuters India (@ReutersIndia) June 18, 2019
Oil climbs 3% on hopes U.S.-China trade talks resume, Mideast tension https://t.co/VV1pjMTUDjpic.twitter.com/vEG0rtURTJ
— Reuters India (@ReutersIndia) June 18, 2019
Equity markets opened higher on account of strong global cues. Asian market opened on a strong note. Nikkei, Hong Kong and China Index gained 1-2%. SGX Nifty was up over half a percent or 58 pts.
On Wall-Street, US Dow Jones climbed over 1% and approached an all-time highs on optimism that Trump will de-escalate his trade war with China, adding to gains sparked by the ECB's signal it is ready to cut interest rates if warranted.
European markets like FTSE, CAC and DAX Index gained 2%, yesterday, after the ECB President Mario Draghi said that officials are ready with stimulus if needed.
US Fed interest rate decision will be announced mid-night (ISD). Market participants expect a 25 bps cut.
Meanwhile, foreign institutional investors bought equity worth Rs 31.73 crore, while domestic institutional investors bought shares to the tune of Rs 181 crore, provisional data available with stock exchanges showed on Monday.
BSE Sensex opened today's trade at 39,176.56 level against yesterday close of 39,046.34, while NSE Nifty was started at 11,744.45 against last close of 11,691.
Sensex ended down by 85 points at 39,046, while Nifty climbed up 19 points to close at 11,691. Overall 32 stocks out of 50 advanced on Nifty and 20 out of 30 stocks on Sensex closed bullish.