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- TCS to sell real estate assets to raise Rs 500 crore
- #10: Seven Rocks Men’s V-Neck Cotton Tshirt “V-Neck Tshirt Wine Melange”
- Volatility keeping gold prices in check; commodity may soon fall to Rs 28K
- #5: Ben Hur
- #9: Steve Jobs
- September wholesale inflation eases to 2.6% on back of low food prices
- Germany’s opens 0.1% higher at 13,004.67
- France’s CAC opens 0.2% higher at 5,359.84
- Spain’s IBEX 35 opens 0.3% lower at 10,225.20
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- U.K.’s FTSE 100 opens 0.3% higher at 7,554.04
- Stoxx Europe 600 opens 0.2% higher at 392.23
- Catalan president fails to clarify whether region has declared independence: reports
- Leslie Thng takes over as Vistara CEO
- Kerala bandh: Schools, colleges and businesses shut; bus services hit
- Catalan president seeks 2-month dialogue period with Spain over independence: reports
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| TCS to sell real estate assets to raise Rs 500 crore Posted: 16 Oct 2017 01:07 AM PDT India’s second-largest software exporter Tata Consultancy Services (TCS) has initiated a process to encash its real estate assets in Maharashtra, Gujarat to raise anywhere about Rs 500 crore, two people in the know said. "TCS has put residential apartments including those in and around Mumbai and Ahmedabad on the block. These residential apartments were used by company employees," a person with direct knowledge of the matter said. There are more than 200 apartments and houses for which the company is expecting to raise somewhere in the vicinity of Rs 500 crore. TCS has already roped in two real estate brokers to sell its assets in the next six months. The real estate properties are currently used by the company employees as accommoation. The apartments are located in areas like New Mumbai, Central Mumbai and North West Mumbai. In Ahmedabad, the properties are located on the Western part of the city. People in the know said there are so me apartments owned by the company in other cities of Maharashtra and Gujarat as well, which would also be put on the block. "The price of the apartments range from around Rs 50 lakh to about Rs 2 crore. Buyers will have to approach brokers and if there is more than one buyer, an informal bidding could be carried out," another person close to the development said. A questionnaire sent to TCS sent on Thursday remains unanswered. People quoted above said TCS is also looking to formally advertise the sale of the apartments during next few weeks. The marketing department would be handling the process. When asked about the reason for the move, the person with knowledge of the matter said, "It’s a strategic decision that has been taken at the highest level. The company feels the resources could be better deployed." ET could not independently confirm the precise reason for the sale. Last week, TCS reported a better than expected performance in September quarter with higher sequential growth in dollar-denominated revenue than the prior four quarters and also saw buoyancy in client addition. TCS reported 3.2% sequential growth to $4,739 million for the quarter. |
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| Volatility keeping gold prices in check; commodity may soon fall to Rs 28K Posted: 16 Oct 2017 12:39 AM PDT By Prathamesh Mallya The volatility in gold markets continues to spook investors with host of factors ranging from the nuclear prowess of the North Korean peninsula and the words of war exchanged by the two nations, followed by the interest rate hike by the US Federal Reserve, which many in the markets feel will happen as soon as December. The aftermath of the hurricane IRMA and Harvey also added to the momentum in the gold prices. Revolving around all these factors, international spot gold prices lost its value by around 1 per cent in the past fortnight (Sept18-Oct 12) and traded in a narrow range of $40 (high of $1,320 to low of $1,260) while MCX gold prices rose more than 1 per cent in the same time frame, thanks to the weakening rupee (1.5 per cent depreciation). Gold prices balanced between geopolitical risk and US rate hike The US president Donald Trump has already threatened to destroy North Korea and mocked its leader kim Jong Un as a rocket man, besides enforcing national sanctions on the country. The US President also said that any US military option would be “devastating” for Pyongyang, but said the use of force was not Washington’s first option to deal with the North’s ballistic and nuclear weapons program. On the economy side, the US expanded a bit faster than previously estimated in the second quarter, recording its quickest rate of growth in more than two years, but the momentum likely slowed in the third quarter due to the impact of Hurricanes Harvey and Irma. On the other hand, major automakers on Tuesday posted higher US new vehicle sales in September as consumers in hurricane-hit parts of the country replaced flood-damaged cars that began when Hurricane Harvey hit southeast Texas in late August. Gold has recently come under pressure from rising expectations the Federal Reserve will lift US interest rates once more this year and start trimming its $4.5 trillion balance sheet, much of it built up after the 2008 financial crisis. Elsewhere, steady monetary policy by Bank of Japan and upbeat view of the economy, signalling its conviction a solid recovery will gradually accelerate inflation towards its 2 per cent goal without additional stimulus. In the Euro area, the mood among German investors improved more than expected in September as worries about the stronger euro faded, suggesting that markets expect Europe’s biggest economy to continue its solid performance in coming months. Outlook Markets are pricing in a 76 per cent chance the Fed will raise borrowing costs in December, compared with less than 20 per cent only a month ago. In physical demand, China’s net gold imports via main conduit Hong Kong plunged 55 per cent in August from the previous month. Indian gold buyers also remain muted due to higher local prices in turn creating a downside pressure on the yellow metal. Money managers have been cutting their long speculative positions in gold for past four weeks in a row. Net longs in gold stood at 1,85,788 contracts vis-à-vis net longs of 2,64,934 contracts, clearly indicating that gold prices will remain under pressure in the weeks ahead. Gold prices will move down lower towards $1,260 from current levels of $1,300 mark, while MCX gold prices will trade lower towards Rs 28,000 mark; (CMP: Rs 29,900 /10 gram). (Prathamesh Mallya is Chief Analyst, Non-Agri Commodities and Currencies at Angel Broking. Views expressed in this column are his own and do not represent those of ETMarkets.com. Investors should consult their financial advisers before taking any investment calls based on this article) |
| Posted: 16 Oct 2017 12:38 AM PDT Ben Hur Buy: (Visit the Bestsellers in Movies & TV Shows list for authoritative information on this product’s current rank.) |
| Posted: 16 Oct 2017 12:38 AM PDT Steve Jobs Buy: (Visit the Bestsellers in Movies & TV Shows list for authoritative information on this product’s current rank.) |
| September wholesale inflation eases to 2.6% on back of low food prices Posted: 16 Oct 2017 12:35 AM PDT |
| Germany’s opens 0.1% higher at 13,004.67 Posted: 16 Oct 2017 12:18 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
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| France’s CAC opens 0.2% higher at 5,359.84 Posted: 16 Oct 2017 12:17 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
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| Spain’s IBEX 35 opens 0.3% lower at 10,225.20 Posted: 16 Oct 2017 12:17 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
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| Posted: 16 Oct 2017 12:17 AM PDT Wuudi 4-Pack Reusable Stove Burner Covers Non-stick Cuttable Protectors for Gas Range Stove Burners in Different Sizes Buy new: (Visit the Best Sellers in Appliances list for authoritative information on this product’s current rank.) |
| U.K.’s FTSE 100 opens 0.3% higher at 7,554.04 Posted: 16 Oct 2017 12:07 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
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| Stoxx Europe 600 opens 0.2% higher at 392.23 Posted: 16 Oct 2017 12:07 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
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| Catalan president fails to clarify whether region has declared independence: reports Posted: 16 Oct 2017 12:07 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
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| Leslie Thng takes over as Vistara CEO Posted: 16 Oct 2017 12:07 AM PDT Full service carrier Vistara today said Leslie Thng has taken over as its Chief Executive Officer after receiving all requisite approvals. Thng, whose appointment is effective from today, replaces Phee Teik Yeoh, who has returned to Singapore Airlines. A joint venture between Tata group and Singapore Airlines, the airline began its commercial operations in January 2015. Currently, it has a fleet of 16 aircraft and has ambitious expansion plans, including flying overseas destinations. “Thng has taken over as the airline s new CEO post all requisite approvals from the Government of India and regulatory authorities,” Vistara said in a release. He has joined the carrier from Budget Aviation Holdings — a Singapore Airlines Holding Company — where he was serving as the Chief Commercial Officer. “I look forward to the opportunity to build on the strong foundation and momentum created by Phee Teik Yeoh, and work with the wonderful team of Vistara. I hope to get the support of all stakeholders, including the customers, to take Vistara through its next phase of growth and development,” Thng said. Thng started his career with Singapore Airlines in 1999 and has held many senior positions at the carrier. Among others, he has served as chief executive of Silk Air. TATA SIA Airlines Ltd operates under the brand name Vistara. |
| Kerala bandh: Schools, colleges and businesses shut; bus services hit Posted: 16 Oct 2017 12:03 AM PDT The dawn-to-dusk hartal called by the Congress-led United Democratic Front (UDF) on Monday was marked by minor incidents of violence in the initial hours. The hartal was called in protest against the central and state government over several issues, including the rise in fuel prices, faulty implementation of Goods and Services Tax, political killings in the state and law and order concerns. Services of the Kerala State Road Transport Corporation (KSRTC) have remained largely unaffected, except in Kasargod. While educational institutions are closed and universities have postponed examinations, attendance at government offices and institutions is marginally low. Most of the shops and business establishments are closed. Buses attacked Several KSRTC buses were attacked on the outskirts of Thiruvananthapuram, Pathanamthitta and Palakkad, while protesters threw stones at a bus in Kochi. Some buses were stopped in Kozhikode and Malappuram. In Kollam, Alappuzha, Thrissur and Kozhikode, protesters stopped several private vehicles. On Sunday, during a march ahead of the hartal, protesters stopped a vehicle ferrying a pregnant woman to a hospital in Kollam. The CPM-led state government has announced strict action against those violating law and order during the hartal and assured security for private vehicles. “Strict action will be taken against those who engage in acts of violence, obstruct traffic, forcefully shut down shops and prevent people from joining work,” Chief Minister Pinarayi Vijayan had said. Rhetoric and reversal The hartal has invited criticism with many pointing out that Leader of the Opposition Ramesh Chennithala, during his stint as home minister in the previous Congress-led government, initiated a bill to regulate it. Chennithala clarified that the Opposition was organising a “peaceful” hartal. The Kerala High Court, while considering a petition against the hartal, had issued a notice to Chennithala and directed the state government to ensure security for the public and dispel “fears” about the protest. Source: DH |
| Catalan president seeks 2-month dialogue period with Spain over independence: reports Posted: 15 Oct 2017 11:57 PM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
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