Prepared to meet full fertiliser demand in rabi season, says Union Minister DV Sadananda Gowda – The Financial Express

The government is prepared to fulfil the complete fertiliser demand of farmers during the ongoing rabi season, Union Minister for Chemicals and Fertilisers D V Sadananda Gowda said Wednesday.The entire quantity required for the current rabi season, especially during peak consumption months of December 2018 and January 2019, is expected to be met by domestic production of about 129 LMT and the remaining through imports. (Reuters)The government is prepared to fulfil the complete fertiliser demand ...
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A stable govt in May can take Nifty to 13,000 mount, says Kotak Securities – The Financial Express

The outcome of the forthcoming general elections will be the key factor influencing the equity market in 2019 and if a stable government comes to power it can lift the Nifty up to 13,000 levels, a brokerage said Thursday. Its managing director and chief executive Kamlesh Rao said which party comes to power is not very important but whats important is that the next government should have a clear majority.The outcome of the forthcoming general elections will be the key factor influencing the equit...
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Analyst Corner: ‘Hold’ on Godrej Consumer Products with TP of Rs 807 – The Financial Express

To focus more on Asia, Africa and Latin America and improve profitability, GCP recently divested its UK business. We retain our ‘Hold’ recommendation.With its focused strategy, 3*3 (three categories—hair-, home-, personal care—and three continents—Asia, Africa, Latin America), Godrej Consumer strives to keep its growth momentum going. Further, innovations, premiumisation and deeper penetration are driving market share gains. We retain our ‘Hold’ recommendation.GCP continues to focus on hastening...
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Rupee opens weak, falls 33 paise against US dollar – The Financial Express

Rupee opened on a weak note Thursday as the domestic currency plunged 33 pasie versus the US dollar. Rupee opened on a weak note Thursday as the domestic currency plunged 33 pasie versus the US dollar. The rupee opened at 70.79 per dollar on Thursday versus previous close 70.46. On Wednesday, the Reserve Bank of India, as widely expected, kept its key policy rate unchanged at 6.50 percent in its monetary policy review on Wednesday.Meanwhile, Sensex and Nifty opened negative on Thursday on weak g...
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Government sells 2.21 per cent stake in CIL to CPSE ETF – The Financial Express

The government has sold 2.21 per cent stake in state-owned CIL to the CPSE ETF which is managed by Reliance Nippon Life Asset Management Ltd, according to a regulatory filing. Post-acquisition holding of promoter is 72.92 per cent of equity share capital of the company, the filing said.The government has sold 2.21 per cent stake in state-owned CIL to the CPSE ETF which is managed by Reliance Nippon Life Asset Management Ltd, according to a regulatory filing. The President of India, acting throug...
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Dr Reddy’s Lab: US sales to improve with new launches – The Financial Express

While we expect China and global injectable business to scale up in two-three years, US sales would improve with new launches (15 in FY19).Target is to have 20% EBITDA across products markets.Mr Erez Israeli, new COO, in our meeting underscored focus on (1) six key areas — US, India, Russia, China, API global injectable business (vs. US earlier) and (2) improving profitability by making self-sustainable businesses (Biosimilar, PP) and cost optimisation (RD, staff, processes). Target is to have...
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Maruti Suzuki shares slip over 2% after India’s largest carmaker announces price hike from January 1 – The Financial Express

Shares of Maruti Suzuki plunged over 2 percent Thursday morning after the automaker announced a price hike from January 1, 2019. Maruti Suzuki has announced price hike across its range of vehicles due to higher commodity costs and adverse foreign exchange movement. (Reuters)Shares of Maruti Suzuki plunged over 2 percent Thursday morning after the automaker announced a price hike from January 1, 2019. The stocks of the country’s largest carmaker fell by more than 2.4 percent in the early trade to...
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RBI Monetary Policy: Bonds gain amid move to increase open market operations frequency – The Financial Express

Yield on the benchmark bond fell to 7.41% before closing at 7.44%, down 13 basis points from its previous close.The local unit, however, pared the initial losses and finally ended the session at 70.46 to the US dollar, up 3 paise.By Utsav SaxenaBonds rallied on Thursday after the Reserve Bank of India (RBI) left the key policy rate untouched at 6.5% and confirmed to extend its open-market debt purchases until March. The yield on the benchmark bond fell to as low as 7.41% intra-day before closing...
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