INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The domestic equity market shrugged off worries over US pullout from the Iran nuclear deal and notched up gains on
Wednesday.
Heavy buying in index heavyweights HDFC Bank, Reliance Industries and TCS gave a good 103-point lift to the SP BSE Sensex
high post JLR sales nosTata Motors rallied over 4 per cent during the day as Jaguar Land Rover (JLR) sales grew at an annual 11.90 per cent
to 45,180 units for April
Sales of its subsidiary were driven primarily by introduction of new models, including the Range Rover Velar, the Land Rover Discovery and
The stock settled at Rs 341.35, up 2.79 per cent.
Walmart acquires Flipkart for $16 billionWalmart on Wednesday announced its high profile
acquisition of Flipkart for $16 billion for a valuation of over $20 billion, making it the largest ecommerce acquisition in the world
The Bentonville company has acquired 77% of the Bangalore-based company, as per sources
This is also the largest buyout for the US company with its biggest bet ever in online space and on India, underscoring the growing digital
consumption potential in a country of 1.3 billion
READ MOREQ4 numbers lift ArvindShares of the textile manufacturer surged 6 per cent in the intraday trade after the company reported 18 per
cent jump in its March quarter profit at Rs 115.47 crore
The company had logged a profit of Rs 97.71 crore in the corresponding quarter last fiscal
At close, the stock price of the company stood at Rs 439 apiece, up 4.64 per cent on BSE.
Shasun strides on Canada dealDrug firm Strides
Shasun on Wednesday said it has agreed in principle with Canada's Apotex to merge their business operations in Australia
The arrangement would help Bangalore-headquartered Strides, which will have a controlling stake in the merged entity, to move to a leading
position in the Australian market, the company said in its statement
The stock ended 3.63 per cent higher at Rs 572.35 per share.
BSE readies for commodities tradeLeading stock exchange BSE on Wednesday
entered an agreement with Sohan Lal Commodity Management (SLCM) for supporting its much-awaited launch of agri-commodities trading
Under the agreement SLCM shall provide warehousing, assaying services, crop management services to BSE for the purpose of storage of various
food grains, pulses and other agro-based commodities at various places in India.
Crude oil tops $77Oil prices rose more than 3 per cent on
Wednesday, hitting 3-1/2-year highs, after US President Trump abandoned a nuclear deal with Iran and announced the "highest level" of
sanctions against the OPEC member
Brent crude oil touched its highest since November 2014 at $77.20 a barrel
The benchmark contract was up $2.15 a barrel, or more than 2.8 per cent, at $77.00
US light crude was up $1.90 a barrel, or almost 2.8 percent, at $70.96, near highs also last seen in late 2014
READ MORESpurt in open interestArvind saw the biggest jump in open interest at 49.42 per cent, followed by Cholamandalam Investment and
Finance (30.38 per cent) and Kajaria Ceramics (27.73 per cent).
Poor Q4 slows down Eicher MotorsRoyal Enfield maker Eicher Motors on
Wednesday posted a marginal 0.45 per cent year-on-year (YoY) rise in consolidated profit at Rs 461.53 crore for the quarter ended March 2018
The numbers were way below the ETNow poll of Rs 610 crore
Consolidated total revenue from operation increased 18.54 per cent to Rs 2,528.01 crore in Q4FY18 over Rs 2132.54 crore in Q4FY17
ET Now poll had projected revenue of Rs 2,517 crore during the quarter under review
The results came post market hours
Shares of the company ended at Rs 30,305.45, apiece, down 0.43 per cent.
Good show for Indostar Capital IPOThe initial public offering (IPO)
of NBFC Indostar Capital Finance was subscribed 19 per cent on Day 1 of the bidding process
At 04:15 pm, total bids received stood at 42,68,836 shares against the total issue size of 2,25,75,438 shares
The firm aims to raise Rs 1,844 crore from the issue
On Tuesday, the company raised Rs 553.2 crore from anchor investors by allotting 96.7 lakh shares to 24 anchor investors
READ MOREAirtel may list African unitTelecom major Bharti Airtel is looking to pare $4.6 billion from its net borrowings over the next
three years by listing its African unit and potentially selling some stake in its tower business, Bloomberg reported citing a person with
Shares of the firm closed 0.46 per cent higher at Rs 402.60 apiece on BSE
