Gold prices move down by ₹ 115 after safe haven appeal hit
Uploading Date : 06-11-2017Gold came under pressure from a rising dollar with a fall of ₹ 115 to ₹ 30,135 per 10 grams on Monday , which was compounded by tepid demand from local jewellers. The fall was in line with a weak trend overseas as the strength in the dollar dented demand for the precious metal as a safe haven.
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Torrent Pharma to buy Unichem’s India business
Uploading Date : 04-11-2017Torrent Pharmaceuticals Ltd, the flagship company of the Ahmedabad-based Torrent group, on Friday said it had agreed to acquire the branded business of Unichem Laboratories Ltd in India and Nepal for Rs3,600 crore.
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Jerome Powell to succeed Janet Yellen as US Federal Reserve Chairman
Uploading Date : 03-11-2017US President Donald Trump nominated Jerome Powell to run the Federal Reserve once current Chair Janet Yellen's term expires, in a move widely expected and one unlikely to disturb the roaring stock market.
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SBI cuts lending rates for the first time in 10 months
Uploading Date : 02-11-2017State Bank of India (SBI), the country's largest bank, announced a 5 basis point cut in its benchmark lending rates across various maturities. This is the first time in 10 months that it has cut lending rates. With effect from November 1, the bank has pegged its benchmark rate to 7.95% for a term of one year against 8% charged earlier
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Walmart opens its first India ‘dark store’ in Bhiwandi
Uploading Date : 02-11-2017Walmart Stores has opened a fulfilment centre, or ‘dark store’, in India, one of its first globally, in an effort to speed up operations in the country, which is fast adopting online retail services.
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Mahindra Logistics issue may be an expensive bet
Uploading Date : 01-11-2017Mahindra Logistics plans to raise Rs 830 crore through an offer for sale. The proceeds of the issue would go to the private equity investor, Kedaara Capital. Unlike other listed logistics companies, Mahindra Logistics operates on an asset-light model, which ensures a better return on equity. However, its IPO valuation looks expensive compared with its peers. Given these factors, the share sale looks more suitable for investors with high risk appetite
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Manufacturing PMI falls to 50.3 in October
Uploading Date : 01-11-2017Nikkei India Manufacturing Purchasing Manager’s Index (PMI) fell to 50.3 in October from 51.2 in September as output rose only fractionally while new business orders stagnated. A reading above 50 on the index denotes expansion and less than that indicates contraction in activities. “This indicated a broad stagnation in the health of the manufacturing sector during October. At the sector level, improvements in consumer goods negated deteriorations in investment and intermediate goods,” Nikkei said in a release on Wednesday. Panellists in the monthly survey attributed some of the subdued demand conditions to negative impacts of the goods and services tax (GST). Meanwhile, new export orders for Indian goods reduced in October and the rate of contraction was the fastest since September 2013. However, employment increased for the third consecutive month. “Manufacturing production rose at the weakest pace in the current sequence of growth,” noted Aashna Dodhia, Economist at IHS Markit and author of the report. Business confidence also eased to the weakest since February as some firms expressed concerns over negative GST effects.
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