SENSEX RISES BY 277 PTS TO CLOSE AT 5MONTH HIGH
MUMBAI: The benchmark BSE Sensex on Monday surged by around 277 points to close at more than five-month high of 35,934.72 on heavy buying in energy, capital goods, power and banking stocks following positive leads from global markets. A strengthening rupee against the US dollar also bolstered the trading sentiment even as investors shifted their focus to corporate earnings from trade war worries. The 30-share BSE Sensex rallied for the second day by rising 276.86 points or 0.78% to settle at 35,934.72.
Xiaomi shares drop after poor Hong Kong debut
HONG KONG: Xiaomi Corp. made a weak debut in Hong Kong on Monday, with the Chinese smartphone maker’s shares sliding as much as 6% on valuation concerns, in an ominous sign for its technology sector peers lining up listings in the city. A packed IPO calendar in the coming months will include a $4 billion deal from online food delivery-to-ticketing services platform Meituan Dianping and an up to $10 billion IPO from China Tower.
Ease of biz: Ranking of states to be released today
NEW DELHI: The commerce and industry ministry will on Tuesday release the ranking of states and union territories (UTS) in terms of ease of doing business. Andhra Pradesh and Telangana jointly topped the 2016 all-india State/ Union Territory-wise Ease of Doing Business rankings. The move is aimed at triggering competition among states to attract investments and improve business climate.
Honda Cars to hike prices by up to ₹35,000 from Aug
NEW DELHI: Honda Cars India on Monday said it will increase prices of its models by up to ₹35,000 from next month in order to offset rise in input costs. The company plans to hike prices in the range of ₹10,000-₹35,000 and the revised prices will be effective from August 1, the firm said.
BSE postpones launch of platform for startups
NEW DELHI: BSE has postponed the launch of its new platform for listing start-ups. The platform, scheduled for launch on Monday, was aimed at facilitating the listing of companies in sectors such as IT, ITES, bio-technology and life sciences, 3D printing, space technology and e-commerce.
Groww raises funds from Insignia, others
NEW DELHI: Online investment platform Groww has raised $1.6 million (around ₹10.9 crore on Monday) in a pre-series A funding round from Insignia Venture Partners, America’s Lightbridge Partners and Kairos fund, the company said in a statement on Monday. Existing investors, including Curefit founders Mukesh Bansal and Ankit Nagori, also participated in the round.
Liberty House seeks info on bids from Bhushan lenders
NEW DELHI: Liberty House on Monday approached the NCLAT against the committee of creditors and resolution professional of Bhushan Power & Steel seeking information on the bid finalisation process of the firm. In its plea, Liberty House has alleged that lenders are not sharing any information or documents related to their meeting
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