Business Archives - Page 23 of 23

India Need to Keep Reform Momentum Going: Jaitley

March 11, 2016 SrijitaGoing:, India, Jaitley, Keep, Momentum, Need, Reform, to

New Delhi: As the global environment becomes extremely difficult and challenging, India will need to keep the reform momentum going while putting resources in areas where it lacks, Finance Minister Arun Jaitley said today. Speaking at the opening day of the three-day India-IMF Conference ‘Advancing Asia: Investing for the Future’, he hoped to get through some important measures over the next few months riding on popular mood for growth oriented policies. “We have been trying to do our best as far as India is concerned, notwithstanding the global environment being…

Alkem Labs Jumps 5%; Gujarat Unit Gets USFDA Nod

March 8, 2016 Srijita5%;, Alkem, Gets, Gujarat, Jumps, Labs, Nod, Unit, USFDA

Mumbai: Shares of Alkem Labs today went up by over 5 per cent after the company said one of its manufacturing plants in Gujarat has obtained establishment approval from US health regulator USFDA. The stock climbed 4.91 per cent to Rs 1,377.75 on BSE. On NSE, it soared 5.16 per cent to Rs 1,379. “Its manufacturing plant at Mandva, Gujarat, has successfully obtained the Establishment Inspection Report from the USFDA. The plant manufactures Active Pharmaceutical Ingredients (APIs) and was inspected by the USFDA in September 2015,” Alkem Labs said in a…

Sensex, Nifty Edge Lower on Profit-Taking After Four-Day Rally

March 8, 2016 SrijitaAfter, Edge, Four-Day, Lower, Nifty, On, Profit-Taking, Rally, Sensex

Mumbai: Indian stock markets edged lower on Tuesday for the first time in five days as investors booked profits in banking shares such as State Bank of India amid cautious trading ahead of major central bank meetings. Asian stock markets also wobbled, after they hit a two-month high in the previous session, ahead of the European Central Bank’s policy review on Thursday and U.S. Federal Reserve’s policy meeting next week. “It’s a retracement that we are seeing after last week’s rally,” said AK Prabhakar, head of research at IDBI Capital.…

Sensex Ends Rangebound Session on a Flat Note

March 8, 2016 Srijitaa, Ends, Flat, Note, On, Rangebound, Sensex, Session

The Sensex and Nifty ended Tuesday’s rangebound session on a flat note as losses in banking and IT stocks offset the gains registered in metal and oil & gas stocks. The Sensex ended 13 points higher at 24,659 and Nifty ended slightly unchanged at 7,485 against its previous close. In the intraday deals, the Sensex touched high of 24,793 and low of 24,509. While, the Nifty moved in a band of 85 points. Buying was visible in metal and oil & gas stocks on the back of sustained rally in…

Who’s Next? Asia Investor Activism Set to Grow After BlackRock Public Campaign

March 8, 2016 SrijitaActivism, After, Asia, BlackRock, Campaign, Grow, Investor, Next?, Public, Set, to, Who's

Hong Kong: Following a rare public campaign, BlackRock Inc voted against a deal planned by a Hong Kong firm that the world’s biggest asset manager partly owns, revving up investor activism in Asia after it roared ahead in 2015. In a ballot on Tuesday, BlackRock rejected G-Resources Group Ltd’s plan to sell its main asset, an Indonesian gold mine, saying it didn’t have confidence G-Resources would use the proceeds in investors’ best interests. Owning 8 percent of G-Resources, BlackRock urged other shareholders to follow suit. G-Resources, which has said it…