#OnCNBCTV18 | Retail investors have a great conviction in Indian equity market. Options available for passive mutual funds are increasing, says Swarup Mohanty of Mirae Asset Investment pic.twitter.com/cC3yNxRKKk— CNBC-TV18 (@CNBCTV18Live) June 29, 2022
Singapore panel rejects Future plea to terminate arbitration proceedings with Amazon:
Singapore International Arbitration Centre on June 28 dismissed Future’s plea seeking termination of arbitration proceedings between the group and American e-commerce major Amazon. The Kishore Biyani-led group had sought termination of arbitration on the grounds that the investment deal between its Future Coupons Pvt Ltd (FCPL) and Amazon no longer enjoyed the Competition Commission of India’s approval.
As per sources close to the development, SIAC rejected the plea for termination of arbitration noting that the CCI’s order does not render the proceedings unnecessary or impossible under the Indian law on arbitration and conciliation. The suspension of CCI’s approval will not invalidate the arbitration clause in the agreement, the tribunal noted further while rejecting the plea.
Genus Paper commences commercial production of kraft paperGenus Paper & Boards has started commercial production of kraft papers, at its new unit in Uttar Pradesh. The Muzaffarnagar unit has manufacturing facilities for production of kraft paper (two lines) and duplex paper.
BSE Information Technology index shed 0.5 percent dragged by the Brightcom Group, IndiaMART InterMESH, RateGain Travel Technologies
Hazoor Multi Projects receives work orderHazoor Multi Projects has received work order from Nagpur Mumbai Super Communication Expressway Ltd for execution of change of scope work in district Ahmednagar of package-11 on EPC mode for Rs 14.11 crore.
Route Mobile shares fall as board approves buyback
Route Mobile share price fell on June 29 after the board approved buyback of shares.
The Route Mobile board at its meeting on June 28 approved the buyback at a price up to Rs 1,700 per share and for an aggregate amount up to Rs 120 crore, as per a release.
The maximum number of shares bought back would be 705,882 which is 1.12% of the total number of paid-up shares of the company.
The maximum buyback size represents 9.95 and 7.31 percent of the total paid-up equity share capital and free reserves of the company, respectively.
Gold Prices Today: Yellow metal to find support from weak rupee; aggressive US Fed to cap upside gains
Tapan Patel, Senior Analyst (Commodities) at HDFC Securities, expects gold prices to trade sideways to down for the day with COMEX spot gold support at $1810 and resistance at $1840 per ounce. MCX…
CARE Ratings has removed the long-term ratings assigned to the debt instruments of BPCL from ‘Credit Watch with Developing Implications’ and assigned a ‘Stable long term rating.
Hindalco to invest Rs 71.5 lakh in Cleanwin Energy SIX LLPHindalco Industries has, pursuant to approval granted by board of directors at their meeting held on May 26, 2022, consented to make investment in the equity share capital of M/s Cleanwin Energy SIX LLP.The company is going to acquire 26% of equity share capital of M/s Cleanwin Energy SIX LLP at Rs 71,50,000.
Market at 10 AMBenchmark indices erased some of the early losses but still trading lower with Nifty around 15750.The Sensex was down 337.31 points or 0.63% at 52840.14, and the Nifty was down 99.20 points or 0.63% at 15751. About 1253 shares have advanced, 1417 shares declined, and 126 shares are unchanged.
Nifty FMCG index fell 1 percent dragged by the Hindustan Unilever, Godrej Consumer, Marico
While Indian₹ depreciates ~6% vs $ in 1 year, Japanese yen is down 25%. If you borrowed ₹100 in yen 1 year ago your borrowing cost near zero, and you would have to repay only around ₹84!— Uday Kotak (@udaykotak) June 29, 2022