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Stocks In News

 

INDIAN OIL CORPORATION

Board to consider bonus issue on Jan. 30.

HPCL, MRPL

HPCL may acquire MRPL in cash and share swap deal

HPCL may buyout ONGC shares which is worth roughly Rs 16,000 Cr

Financial Express Reports

KALPTARU POWER

Gets four orders worth Rs 871 Cr

Order Details

Gets Rs 282 Cr order from APTRANSCO to supply, construct substations

To also set up associated transmission line work for APTRANSCO

Gets Rs 100-cr order from Bangladesh power co, Nepal’s electricity body

Order includes 400 KV double circuit transmission line from Bangladesh

Nepal order includes setting up of 132 KV Transmission Line 

Gets Rs 123 Cr order from CORE to commission rail electrification work

Gets pipeline augmentation work in Rajasthan for Rs 366 Cr from a pvt client

 

  • SENSEX

    36,161.64 21.66   (0.06 %)
  • NIFTY

    11,086.00 2.30   (0.02 %)
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Tax Incentives On Batteries For EVs

News In Brief

 

    United Tech's revenue rises 7 percent

    United Technologies Corp (UTX.N) reported a 7 percent rise in quarterly revenue, helped by higher sales across its four business units.

    The maker of Otis Elevators and Pratt & Whitney aircraft engines said it expected 2018 adjusted earnings in the range of $6.85 to $7.10 per share, up 3 percent to 6.8 percent, from a year earlier.Net sales rose to $15.68 billion in the fourth quarter ended Dec. 31 from $14.66 billion a year earlier.

    (Reuters) 

    Energy group Total to strengthen Gulf of Mexico presence with Samson deal

    PARIS French oil and gas company Total has agreed to buy Samson Offshore Anchor LLC, in a deal which Total said would strengthen its presence in the Gulf of Mexico region.Total said the deal also includes a 12.5 percent interest in the nearby exploration block Green Canyon 761, where Total already has a 25 percent interest.

    “The entry in the Anchor discovery further increases Total’s footprint in deepwater Gulf of Mexico,” said Arnaud Breuillac, President Exploration & Production at Total, in a statement.  The Anchor site is operated by Chevron, which has a 55 percent stake, and Cobalt and Venari which have respective stakes of 20 percent and 12.5 percent.

     (Reuters) 

    China to roll out fresh market-opening measures this year

    Davos, Switzerland: China will this year roll out fresh market-opening measures that could exceed international expectations, Liu He, a member of the Communist Party’s 25-person politburo, said in Davos on Wednesday. 

    China will ease restrictions for foreign companies in its manufacturing and services sectors, said Liu, who was leading the Chinese delegation to the annual World Economic Forum in the Swiss resort town.

    (Reuters)

    Recapitalisation plan for PSBs

    New Delhi: Recap plan: SBI to get Rs 8,800cr; OBC- Rs 3,571cr; Dena Bank- Rs 3,045cr; Central Bank- Rs 5,158cr; IOB- Rs 4,694cr; BoI- Rs 9,232cr; UCO- Rs 6,507cr.

    (PTI)

    Britain seeking equivalence with EU regulation, not harmonisation: Minister

    London: Britain will not seek to harmonise its regulations with the European Union after leaving the bloc, but will aim instead for “outcome equivalence”, Brexit minister David Davis said on Wednesday. 

    “There’s undoubtedly an impetus among some continental countries and on the part of the Commission to try to trade off regulatory freedom against market access,” Davis told a parliamentary committee. “Our strategy for dealing with that is to say we will seek outcome equivalence in some areas, but not harmonisation - otherwise if you have harmonisation you might just as well have stayed in.”

    (Reuters)

    Mnuchin welcomes weaker dollar as US makes Davos investment push

    Davos, Switzerland: The U.S. Treasury Secretary Steven Mnuchin welcomed a weakening of the U.S. dollar on Wednesday as he and other top officials launched a major investment push at the annual Davos summit of business and political leaders. 

    Mnuchin, speaking on the eve of President Donald Trump’s arrival at the Swiss ski resort, also said the market had given a very positive response to recent tax cuts. He reiterated the White House’s goal of achieving economic growth of three percent or more.

    (Reuters)

    Erdogan says Turkey will 'thwart games' along its borders, start in Syria's Manbij

    Ankara: Turkey will “thwart games” along its border, starting with Syria’s Manbij region, President Tayyip Erdogan said on Wednesday, as the Turkish military entered the fifth day of its incursion into northern Syria’s Afrin region. 

    Speaking to local administrators in Ankara, Erdogan also called on international NGOs to support Turkey’s operation against the U.S.-backed Kurdish YPG. “I have doubts of the humanity of those who support this organisation (YPG) and call Turkey an invader,” Erdogan said in a speech to local administrators in Ankara.

    (Reuters)

    InterGlobe Aviation third-quarter profit rises over 56 percent

    Bengaluru: InterGlobe Aviation Ltd, the owner of India’s biggest airline IndiGo, said net profit rose over 56 percent in the third quarter, helped by higher passenger ticket revenue. 

    Net profit for October-December was 7.62 billion rupees ($119.76 million) compared with 4.87 billion rupees in the year-ago quarter. Passenger ticket revenue rose 21.8 percent for the quarter to 53.22 billion rupees.

    (Reuters)

    Don't worry, you won't be deported: UK minister tells EU citizens

    London: Brexit minister David Davis told EU citizens living in Britain on Wednesday not to worry about the country’s departure from the European Union, saying they were not about to be deported. 

    But Davis, speaking to a parliamentary committee, said one sticking point in protecting citizens’ rights might be over voting rights in other countries - something British ministers may have to settle through bilateral negotiations.

    (Reuters) 

    UK will be subject to ECJ rulings under Brexit transition deal: Minister

    London: Britain will remain subject to the rulings of the European Court of Justice during a transitional period, Brexit minister David Davis said on Wednesday.

    (Reuters)

    Beer sales to be allowed at Russian World Cup stadiums: Ifax

    Moscow: Russian Deputy Prime Minister Vitaly Mutko said on Wednesday that the sale of beer would be allowed at stadiums and fan zones during this year’s soccer World Cup, the Interfax news agency reported.

    Russia will host the World Cup from June 14 to July 15 in 12 venues spread across 11 cities including Moscow, St Petersburg and Sochi.

    (Reuters)

    RBI sets rupee reference rate at 63.6439 against US dollar

    Mumbai:  The Reserve Bank of India today fixed the reference rate of the rupee at 63.6439 against the US dollar and 78.4538 for the euro. The corresponding rates were 63.7722 and 78.2166, yesterday.

    The according to an RBI statement, the exchange rates for the pound and the yen against the rupee were 89.3242 and 57.92 per 100 yens, respectively, based on reference rates for
    the dollar and cross-currency quotes at noon.

    (PTI)

    Brexit minister expects agreement on transition deal by end of March

    London: Brexit minister David Davis said on Wednesday that he expects Britain and the European Union will agree to a transition deal on exiting the bloc by the end of March.

    (Reuters)

    Sensex ends at new peak of 36,161.64, Nifty above 11k

    Mumbai: Sensex on Wednesday rose 21.66 points to end at new peak of 36,161.64 while NSE's Nifty ended the day  2.30 points higher to record 11,086.

    (PTI)

     

     

    Syria says claims it uses chemical weapons "lies" - state TV

    Beirut: The Syrian government said on Wednesday that claims by the French and U.S. foreign ministers that it was still using chemical weapons were “lies”.

    On Tuesday, U.S. Secretary of State Rex Tillerson said the Syrian government may still be using chemical weapons, following a suspected chlorine attack in the rebel enclave of eastern Ghouta on Monday.

    (Reuters)

    Saudi Arabia to keep first-quarter crude exports at around 7 million bpd: sources

    Dubai: Saudi Arabia plans to keep its crude oil exports at around 7 million barrels per day for the first quarter despite planned refinery shutdowns, industry sources said, as the OPEC producer is determined to end a supply glut and boost prices.

    The world’s top oil exporter aims to hold its production at around 9.8 million bpd level from January until March, the sources said.

    (Reuters)

    Chief executive of RBS' Ulster Bank to resign

    Dublin: The chief executive of Ulster Bank, part of Royal Bank of Scotland (RBS.L), has informed the bank of his intention to resign and take up an opportunity at another company, Ireland’s third largest lender said on Wednesday.

    Quoting sources close to RBS, Sky News reported on Tuesday that Gerry Mallon would leave the Ulster to take over as chief executive of Tesco Bank.  Ulster Bank, which this week announced its intention to pay its parent company a dividend of 1.5 billion euros for last year, said in a statement that Mallon would remain in his role until a replacement is identified. 

    (Reuters) 

    Turkey's Halkbank working with US Treasury, Justice Department after Iran case: Simsek on Bloomberg HT

    Istanbul: Turkish lender Halkbank is working closely with the U.S. Treasury and Justice Department, Deputy Prime Minister Mehmet Simsek said on Wednesday, after a U.S. jury found one of its executives guilty in an Iran sanctions-busting trial.

    Simsek made the comment in an interview with broadcaster Bloomberg HT.A U.S. jury found Halkbank executive Mehmet Hakan Atilla guilty of helping Iran evade U.S. sanctions, convicting him on five counts, including bank fraud and conspiracy this month, in a case which have strained ties between Ankara and Washington.

     (Reuters) 

    WH Smith's sales for 20-weeks period flat

    WH Smith Plc, a seller of books, newspaper and stationery, reported that sales during the 20 weeks to Jan. 20 were flat compared with a year earlier as gains from its travel shops were offset by a cooling high street business. 

    The company, which has more than 1,400 stores, mostly in the UK, said it expects to save about 12 million pounds in costs in the year, coming in slightly ahead of its target. Total sales in its travel business rose 7 percent during the 20 weeks period, while sales in its high street business dropped 5 percent.      

    (Reuters)

    UK's Purplebricks taps into US East Coast with New York launch

    Online estate agent Purplebricks Group Plc said it planned to launch in New York in the second quarter of 2018, expanding further in the U.S. market, having built a leading position in a fragmented industry at home. 

    Purplebricks, backed by star fund manager Neil Woodford, said it was recruiting local real estate experts in New York and has established an office in Midtown Manhattan.“With higher-than-average rates of commission and transaction volumes, New York was the natural first move on the East Coast for Purplebricks,” Chief Executive Michael Bruce said.

    (Reuters) 

    JD Wetherspoon posts strong Christmas sales

    British pubs group JD Wetherspoon reported strong comparable sales in the Christmas period and said year-to-date underlying pretax profit was slightly ahead of its expectations.

    The owner and operator of more than 900 pubs in Britain and Ireland said like-for-like sales for 12 weeks to Jan. 21 rose 6 percent. The company, however, warned that a similar performance would be “difficult to achieve” in the second half of its financial year.

    (Reuters)

    South Korea asks US for talks soon on washer, solar tariffs: trade ministry

    Seoul: South Korea’s government has asked the United States to hold bilateral talks as early as next week on tariffs Washington has imposed on imports of washing machines and solar panels, South Korea’s trade ministry said on Wednesday.

    South Korea and China have condemned the steep tariffs imposed by President Donald Trump, with Seoul saying on Tuesday it will complain to the World Trade Organization (WTO) over the “excessive” move.South Korea will ask the U.S. to “ease and withdraw” the measures, and will exercise rights under the WTO, the trade ministry said in a statement.

    (Reuters) 

    Estate agent Countrywide CEO Alison Platt resigns

    Countrywide: Britain’s biggest lettings and estate agency firm, said Chief Executive Officer Alison Platt had stepped down, a week after the company warned on full-year group income after a disappointing fourth quarter. 

    Platt will also resign from the board, the company said.Countrywide said Paul Creffield, previously managing director of the company’s commercial development division, has been appointed as group operations director with immediate effect.The company said in August that Platt would take on more responsibilities as it executes a new organisational structure.

    (Reuters) 

    No change in foodgrain prices

    Chennai: Prices of all commodities remained unchanged on the third day in the wholesale   foodgrain market here today.   

    Following are the wholesale rates of various agri-commodities (rates in rupees per quintal, unless stated   otherwise): Thoor Dal Rs 7,200, Urad Dal Rs 6,700, Moong Dal   Rs 7,200, Gram Dal Rs 5,200, Sugar Rs 3,500, Wheat Rs 2,600,   Maida (90 kg) Rs 2,400 and Sooji (90 kg) Rs 3,000.

    (PTI) 

    Blast near Save the Children aid group office in Afghanistan, official says

    Jalalabad, Afghanistan  A blast went off outside the office of the Save the Children aid agency in the eastern Afghan city of Jalalabad on Wednesday, a provincial government spokesman said. 

    “The there was a blast and the target was Save the Children,” said the spokesman, Attaullah Khogyani.  He said he had no word on casualties but a clash was going on at the scene.

    (Reuters) 

    Kazakhstan says freeze lifted on $22 bln in oil fund assets

    Almaty: A Dutch court has lifted a freeze on Kazakh sovereign fund’s assets worth $22 billion, the Central Asian nation’s Justice Ministry said on Wednesday. 

    The assets held by the fund’s custodian, Bank of New York Mellon (BK.N), were frozen last October after a lawsuit by Moldovan businessman Anatolie Stati who seeks to enforce an arbitration ruling against the Astana government.

    (Reuters) 

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