Category Archives: Markets

Shell quits city gas business in India, sells MGL stake in the open market

Shell India is the local arm of the Royal Dutch Shell Plc based in Netherland. The company quit the city gas business in India this Tuesday after it sold its 10 percent of its stake in Mahanagar Gas Ltd for Rs 770 crore. If stock exchange data be concerned, BG Asia Pacific Holdings which happens… Read More: Shell quits city gas business in India, sells MGL stake… »

Indian markets to extend gains on hopes of tax relief for companies

It is said that Indian stock markets may extend gains on this Tuesday monitoring global peers while a government panel mulls tax relief for companies. Asian equities rose further on Tuesday as hope for stimulus in big economies tempered anxiety about a global recession. This has led to an increased appetite for riskier assets while… Read More: Indian markets to extend gains on hopes of tax relief… »

L&T chairman: Make in India is yet to create enough jobs

Make in India was an initiative taken by the government to generate enough jobs for the mass. However, it has failed to fulfill its promise as companies across sectors still prefer to import goods instead of manufacturing them locally as stated by A.M. Naik, the chairman of Larsen and Toubro Ltd. Naik who is also… Read More: L&T chairman: Make in India is yet to create enough… »

Apollo Hospitals up 10% in two days on strong Q1 results; nears record high

Shares of Apollo Hospitals Enterprises rallied 7% intra-day to Rs 1,454 apiece on the BSE on this Friday. It is also 52-week high, on strong June quarter results for FY20 (Q1FY20). The stock has increased 10% at the bourses this Tuesday when it reported more than double consolidated net profit at Rs 49 crore. The… Read More: Apollo Hospitals up 10% in two days on strong Q1… »

Indiabulls housing finance cracks 10% on Moody’s rating downgrade

Shares of Indiabulls Housing Finance (IBH) cracked nearly 10% to Rs 498 in the early BSE trade this Friday morning. This happened after global rating agency Moody’s downgraded the mortgage lender’s long-term corporate family rating to Ba2 from Ba1 while changing its outlook to negative from stable. By ‘negative’ outlook means that the ratings are not going… Read More: Indiabulls housing finance cracks 10% on Moody’s rating downgrade »

Saudi Aramco defends hold on coveted Indian oil market with Reliance tie-up

Saudi Aramco’s proposed purchase of part of Reliance Industries Ltd will allow it to secure back its hold on the fastest-growing oil market in the world where suppliers including Russia and US are making inroads. Aramco is planning to buy 20% of the oil-to-chemicals business of Reliance which includes the world’s biggest refining complex at Jamnagar on the western coast… Read More: Saudi Aramco defends hold on coveted Indian oil market with… »

FIIS turn net buyers in equity markets for the first time in the last 29 sessions

The reports of possible rollback surcharges imposed on foreign investors in the budget seemed to have cheered them. In the last 29 sessions, they were able to turn net buyers in the market. Even the finance minister gave assurance that the government would take necessary steps in order to revive sentiment and get the economy… Read More: FIIS turn net buyers in equity markets for the first… »