Natural rubber imports were up 80 per cent during the April – May period compared with the same period in 2013-14 according to the latest figures of the Rubber Board. About 63,559 tonnes were brought in during the two months compared with imports during the corresponding period last year.
Capital market analysts expressed confidence on Monday that the A-share stock market would post a robust performance this month, thanks to the spin-off benefit of the World Cup soccer tournament on some sectors and the fast-recovering macro economy.
MUMBAI: Indian benchmark government bond yield, which moves inversely to prices, fell to near 8-month low as overseas investors and domestic institutions like insurers and banks extended their buying spree, believing that a clear inflation fight could take bond yields further down in years to come.
The benchmark yield on Friday closed at 8.51 per cent, down two basis points from its previous close at 8.53 per cent. A basis point is 0.01 per cent. However, it has dipped 59 bps or 6.48 percentage points since April 7 this year, when it had closed at a high of 9.10 per cent.
Reliance Group-owned Reliance Cement sprang a mild surprise when it announced it was using a contract manufacturer with capacity of about 0.5 million tonnes (mt) in Durgapur to herald its entry into the West Bengal cement market. The surprise is a conglomerate spanning telecommunications, power, infrastructure, etc, and aspiring to become a 50-mt cement producer using a mini plant, with an option to buy it. A company official, however, says at an appropriate time, the capacity of the Durgapur unit, fed with limestone from Reliance Cement quarries in Madhya Pradesh, will be raised to one mt.
NEW DELHI: The mid and small cap stocks have caught the fancy of investors in the past couple of months as analysts across Dalal Street feel that they are likely to lead the next leg of the rally.
The Sensex ended the day at 24,684.85; up 467.51 points.
The Nifty closed at 7,362.50; up 132.55 points. Expectations are running high that the Bharatiya Janata Party and Narendra Modi will revive economic growth and kick start the investment cycle, which would have direct impact on most of these mid and small cap stocks.
With markets on a roll, the state-run Union Bank of India is set to launch its Rs 1,386-crore qualified institutional placement (QIP) issue in the second quarter of this fiscal, a top official has said.
Dairy companies are targeting smaller cities, as consumption of milk products, especially processed products such as cheese and packaged baby food, is on the rise in these regions. With the increase in demand, focus on upstream linkages for milk procurement is becoming crucial, Rabobank has said in a report on the Indian dairy sector.
NEW DELHI: Infosys plunged over 8 per cent in trade on Thursday, after BG Srinivas — who was widely tipped as the next CEO — decided to quit, this also marks as the 10th big exit at the company in the last one year.
The Infosys stock plunged below its crucial psychological support level of Rs 3000 in trade today and analysts tracking the sector do not rule out the possibility of it slipping below Rs 2,700 in the near future.
Extending its downward journey for the fourth straight session, gold prices tumbled by Rs 200 to hit nearly 11-month low of Rs 27,500 per ten grams in the national capital today amid a weak trend in global markets.
The Reserve Bank of India is expected to set a cut-off yield of 8.60 per cent at its 91-day treasury bill auction later in the day, below last week’s cut-off yield of 8.6456 per cent, according to the median of a Reuters poll of 12 traders.
The highest yield polled was 8.75 per cent while the lowest was at 8.55 per cent on 91-day t-bills.
MUMBAI: The benchmark BSE Sensex and CNX Nifty moved up by more than two per cent during the week logging their all-time closing peaks on hectic buying by investors amid hopes of reforms from the incoming Narendra Modi-led government.
Markets ended in the green for the third consecutive week as both the indices gained by more than 10 per cent in three weeks on persisting buying mainly in realty, power, PSUs, metal, consumer durables, capital goods and refinery sectors.
MUMBAI: India’s benchmark BSE index rose more than 1 per cent on Friday to become the best performing equity market in Asia-Pacific for 2014 in dollar terms, on continued hopes the incoming Narendra Modi government would unveil substantial economic reforms.
Gains were also helped as State Bank of India surged after reporting bad loans fell in January-March, sparking a rally in other state-run lenders.
Raw cashew prices are likely to rise this year, as the domestic production is estimated to go down at least 30 per cent. The prices have gone up 12-14 per cent to touch Rs 85 a kg in several growing regions in Konkan, Maharashtra and Karnataka.
The rally in the equity markets from August/September 2013 has seen the benchmark indices, the S&P Sensex and the CNX Nifty, move up by 35 per cent till now, with investor preference shifting to riskier assets such as equities.
In contrast, gold and silver, considered safe haven bets in uncertain times, lost 8.8 per cent and 20.4 per cent, respectively, during this period. Consumer demand (in monetary terms) for jewellery, gold bars and coins dipped 41 per cent in the first quarter of calendar year 2014 to $ 7,911 million. In physical terms, it was 26 per cent lower, at 190.3 tonnes.
India’s coir exports grew 32 per cent in 2013-14, in value terms. According to G Balachandran, chairman, Coir Board, India exported 537,040 tonnes of coir and coir products, valued at Rs 1,476 crore, this financial year against 429,501 tonnes valued at Rs 1,116 crore in the previous financial year.