US markets closed lower as oil plunged to new lows

The US markets closed lower on Wednesday, as losses in the energy sector overshadowed the release of the minutes of the Federal Reserve’s policy-setting committee. Shares of energy companies dropped sharply after oil futures plunged to over 6-year low. The minutes from the meeting of the central bank’s Federal Open Market Committee, or FOMC, suggested

Crude plunges to fresh six months low

Crude oil futures plunged on Wednesday to end at fresh six years low, after official weekly crude oil inventory data from the US Energy Information Administration (EIA) showed stockpiles to have increased more than expected last week. Traders were also concerned about the minutes from the FOMC latest meeting, which showed the Federal Reserve is

Cipla reports two fold rise in Q1 consolidated net profit

Cipla has reported results for first quarter ended June 30, 2015. The company has reported 107.74% rise in its net profit at Rs 690.05 crore for the quarter ended June 30, 2015 as compared to Rs 332.17 crore for the same quarter in the previous year. The company’s total income has increased by 45.34% to

Ramco Systems bags new order from PayPartners Australia

Ramco Systems, the global Aviation software provider on cloud, mobile & tablets, has bagged new order from PayPartners Australia whereby the specialist contractor management and staffing firm has selected Ramco Systems’ integrated ERP with HCM and Payroll to benefit more than 600 contractors across Australia and New Zealand. The cloud-based platform will replace PayPartners’ multiple

JK Tyre to enter into 2 and 3 wheeler tyre segments

JK Tyre and Industries is planning to enter into two- and three-wheeler tyre segments, focusing on auto makers, export/replacement markets. The company is doing some test marketing and will enter this space in next two or three months. Meanwhile, the company is planning to invest around Rs 800 crore in the current fiscal at its

Cambridge Technology enters into partnerships with two leading Indian companies

Cambridge Technology Enterprises (CTE), an IT services leader focused on the convergence of big data and cloud, has entered into partnerships with two Indian companies leading the textile machinery and shipping industries. The company has laid out Enterprise Resource Planning (ERP) applications development and enhancement contracts with the textiles company. As a Platinum Member in

Benchmarks continue firm trade in late afternoon session

Indian equity markets continued their firm trade in the late afternoon session on account of buying in frontline blue chip counters. The mood was on up-beat note on moderation in formation of new stress loans, coupled with Finance Minister Arun Jaitley’s plan to infuse nearly $2 billion into state-run lenders. Investors however maintained cautious approach

FIIs stood as net sellers in equities as per August 3 data: NSDL

The FIIs as per Monday’s data were net sellers in equity segment while they were net buyers in debt segment, according to data released by the NSDL. In equity segment, the gross buying was of Rs 5594.24 crore against gross sell of Rs 5819.42 crore. Thus, FIIs stood as net sellers of Rs 225.18 crore

Rupee ends stronger on Monday along with equities

Snapping its two days losing streak, Indian rupee strengthened on Monday on fresh selling of the dollar by exporters amid fall in global crude prices. Further, a weakness in US greenback against some major currencies overseas and gains in the domestic equity market too supported the rupee. Though, traders were eyeing the Reserve Bank of

US markets closed higher snapping 5-day slump

The US markets closed higher on Tuesday, snapping a five-day losing streak in the main US indexes. Investors brushed off softer economic reports, while focusing on the two-day Federal Reserve meeting, which kicked off on Tuesday and concludes on Wednesday with a policy statement. The expectations for a September hike have faded recently, partly because