Dharmesh Arora Elevated to Regional CEO Asia Pacific for Schaeffler Group
SchaefflerIndia said Chief Executive Officer DharmeshArora will take over the new role as Regional CEO Asia Pacific for Schaeffler Group starting October2019.
His successor will be announced in due course, it added.
Managed out of Singapore, the region Asia Pacific is responsible for the business in Japan, Korea and South East Asia, where the Schaeffler Group is just building two new plants in Thailand and Vietnam.
Just In
Jubilant Life Sciences said unsecured bonds issued by subsidiary Jubilant Pharma listed and quoted on the official list of the Singapore Exchange Securities Trading Limited on March 6.
The subsidiary had successful completed the offering of rated unsecured bonds of an aggregate principal amount of $200 million, to institutional investors outside India.
NMDC on Wednesday said the board of directors, on March 12, will consider declaration of interim dividend for the financial year 2018-19, if any.
Subex has signed a five-year multi-million-dollar deal with Botswana Telecommunications Corporation Limited (BTC), a leading telecommunications services provider in Botswana. As part of the deal, Subex will be implementing its integrated ROC Revenue Assurance and ROC Fraud Management Platform (iRAFM), along with its ROC Partner Settlement and ROC Route Optimization. This deal also marks the continuation of Subex and BTC’s long-standing partnership thatdates back to 2010.
Tatanet Services, a wholly owned subsidiary of Nelco Limited, Wednesday said it has recently obtained in-flight, maritime connectivity licence from Department of Telecommunications, a move that can improve business productivity for the airlines and shipping companies. Source: PTI
Image and Data: Bloomberg
Media and auto are the only sectoral indices that are trading in the red. Nifty Auto is down marginally by 0.05 percent and Nifty Media is down 0.5 percent.
India VIX
, the measure of volatility is down 1.11 percent intraday at 15.48.
Market Update:
Sensex is up 152.16 points or 0.42 percent at 36594.70, and the Nifty up 51.60 points or 0.47 percent at 11039.10.
All broad market indices are trading in the green. Nifty Midcap is up 0.8 percent and Nifty Smallcap is up 1% intraday.About 1,609 shares have advanced, 647 shares declined, and 122 shares are unchanged.
Just In |
The Indian Hume Pipe Co has received two Letters of Acceptance aggregating to Rs254.98 Crores (including GST) from Municipal Corporation Raipur, Chhattisgarh.
Just In |
Natco Pharma Limitedhas recieved Abbreviated New Drug Application (ANDA) approval from the U.S. Food and Drug Administration (FDA) for lmatinib Mesylate Tablets, 100 mg (base) and 400 mg (base). These Tablets will be marketed in the USA by Natco’s marketing partner Lupin, as generic versions of Novartis Pharmaceuticals Corporation's (Novartis) Gleevec Tablets, 100mg and 400mg. lmatinib Mesylate Tablet is indicated primarily for the treatment of patients with specific types of Chronic Myeloid Leukemia (CML).
Nifty PSU Bank is the biggest sectoral gainer today. The index has gained 1.5 percent intraday led by 17.5 percent gain in J&K Bank.
Buzzing:
Wipro shares have rallied over 3 percent after the stock adjusted for bonus issue.
Buzzing:
Bharat Forge shares have declined around 2 percent after the steep decline in North America class 8 truck orders.
North American Class 8 truck orders for February remained subdued for the second consecutive months at 16,700 units, falling sharply by 58 percent compared to same month last year, FTR Transportation Intelligence said.
Edelweiss Financial Services gains 12%
: Company shares rallied more than 12 percent in morning on Wednesday after North American fund manager CDPQ signed deal to invest $250 mn in the company's NBFC subsidiary.
Credit Suisse on HCL Technologies
: Research house maintained outperform call on the stock with a target at Rs 1,310 per share. The earnings upgrades are in-line with peers, while valuations is much lower, it added.
The company is trading at a 40% discount to TCS versus long-term average discount of 25 percent. The improving business fundamentals with reasonable valuations offer attractive risk reward, it added further.
Buzzing
:Shares ofQuick Heal Technologies added 7 percent in the early trade on Wednesday after board approved buyback of equity shares.
Company board approved a proposal to buyback up to 63,63,636 equity shares of the company, being 9.02 percent of the total paid up equity, for an aggregate amount not exceeding Rs 175 crore, at a price of Rs 275 per share.
Market Opens
It is strong start for the benchmark indices on Wednesday with Nifty opens above 11,000 level.
The Sensex is up 158.64 points at 36601.18, while Nifty is up 47.10 points at 11034.60. About 777 shares have advanced, 146 shares declined, and 43 shares are unchanged
Wipro, Indiabulls Housing, L&T, HPCL, BPCL, ITC, Vedanta, Grasim, DHFL, are the top gainers on the indices, while losers are Bharat Forge, Reliance Capital
All the sectoral indices are trading green, while midcap and smallcap also up 0.6 percent.
L&T Construction bags order
Heavy Civil Infrastructure Business of L&T Construction has secured orders from Bangalore Metro Rail Corporation for the design andconstruction of the Phase-2 works.
Rupee Opens
The Indian rupee opened lower by 10paiseat70.59 per dollar on Wednesday versus previous close 70.49.
Market at pre-open:
Sensex and Nifty are trading higher in the pre-opening trade with Nifty above 11,000 mark.
The Sensex is up 106.63 points at 36549.17, while Nifty is up 50.30 points at 11037.80.
Vedanta, IOC, ITC, Bharti Airtel are among major gainers, while Bharat Forge and RIL are losers in the pre-opening trade.
Crude Update
Oil prices fell more than 0.5 percent on Wednesday as bullish output forecasts by two big U.S. producers outweighed recent OPEC-led efforts to rein in crude production.
JUST IN
| Cipla and its subsidiary Cipla USA, Inc.announced a phased launch of generic cinacalcet hydrochloride tablets (30mg, 60mg and 90mg) in the USA.
US markets end marginally lower:
Wall Street's main indexes dipped in a choppy session on Tuesday as a drop in General Electric shares countered positive retailer earnings and investors eyed a key resistance level for the benchmark S&P 500 after the market's strong run.
Asia trades mixed
:Asian stocks clung to tight ranges on Wednesday, as investors awaited fresh directional cues from US-China trade negotiations and a weaker Wall Street finish capped broader gains, while robust US economic data supported the dollar.
SGX Nifty
Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 22 points or 0.20 percent. Nifty futures were trading around 11,055-level on the Singaporean Exchange.
Good morning and welcome to the live coverage of all the action from D-Street. Stay tuned to this blog for all live updates from the market in India and around the world.
