SENSEX, NIFTY RISE TO RECORD HIGHS ON RESULTS OPTIMISM

MUMBAI : Key stock indices Sensex and Nifty rose to close at life-time high levels today after robust buying in engineering, capital goods, metal and realty shares boosted by encouraging quarterly earnings by companies. Benchmark BSE Sensex continued its record setting streak for a second day, rising by 106.50 points to close at fresh peak of 36,825.10 as index heavyweight Larsen & Toubro, Infosys and

HDFC advanced. The 30-share index also scaled a new record trading high of 36,902.06 points in day trade. It had hit its previous record intra-day high of 36,749.69 on Monday. The broader NSE

Nifty also finished at fresh record high of 11,134.30, up 49.55 points or 0.45 per cent, as 32 of its 50 constituents gained. The 50-issue index surpassed its previous record closing of 11,130.40 hit on January 29.

PFC to seek investor nod to raise ₹65,000 crore

NEW DELHI: State-owned Power Finance Corporation (PFC) on Tuesday said it will seek shareholders’ approval for raising ₹65,000 crore through issue of debentures on a private placement basis. The company board on Tuesday approved the proposal for seeking the nod of shareholders in the ensuing annual general meeting to raise up to ₹65,000 crore through issuance of debentures, bonds, notes or debt securities by way of private placement in domestic and international markets.

Hero Motocorp plans new launches in Sepoct

NEW DELHI: Two-wheeler market leader Hero Motocorp plans to launch new 125cc scooters and Xtreme 200R motorcycle in September-october with an eye on double-digit growth in festive season, company’s chairman and managing director Pawan Munjal said. The firm is also betting on good agricultural harvest on account of the normal monsoon across the country to drive market demand. “We are preparing for a pre-festive launch of our new 125cc scooters and the premium motorcycle Xtreme 200R. These products could come by September or October of this year,”

Munjal said on Tuesday.

Arcelor accepts conditions for purchase of Ilva

ROME: Steel giant Arcelormittal said on Tuesday it had accepted new conditions set by Italian authorities for the purchase of troubled steelmaker Ilva, in a move that could facilitate its acquisition of Europe’s largest steel plant. Arcelormittal has informed the Italian authorities that “it accepts all requests of further commitments” for its plan to purchase the plant in southern Italy, it said in a statement. It asked the Italian government to back its talks with unions to reach a final deal, it added.

Flipkart to shut ebay, launch new platform

NEW DELHI: E-commerce major Flipkart will shut down ebay.in next month and launch a new platform for refurbished goods as it attempts to tap into a large market segment that is predominantly unorganized. Last year, Flipkart had raised ₹1.4 billion from global technology majors ebay, Tencent and Microsoft. In exchange of an equity stake in Flipkart, ebay had made a cash investment of ₹500 million and sold ebay.in (India business) to Flipkart.

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