16 th September, 2018

Weekly Business Digest

Y O U R W E E K L Y D OS E O F B U S I N E S S N E W S

PETROL, DIESEL PRICES HIKED, PROTESTS OBSERVED

ACROSS INDIA
Prices of petrol and diesel continued to rise even as the Congress observed a Bharat Bandh from 9
am to 3 pm on Monday, 10th September over rising fuel prices. Both petrol and diesel prices were
hiked by 23 paise after which a litre of petrol costs Rs 88.12 in Mumbai while diesel costs Rs 77.32.
Fuel prices vary from state to state due to taxes and it is the highest in Mumbai.

To read more, click here: Livemint

INFOSYS SPENDS 76 MILLION DOLLARS TO BUY
FINNISH FIRM FLUIDO
Infosys, one of India’s largest IT services firm, has agreed to spend $76 million to buy Fluido,
a Salesforce consulting partner in the Nordics in Europe. This marks the second acquisition
under chief executive officer (CEO) Salil Parekh, who took over nine months ago. Finland-
based Fluido is a privately held firm that was founded in 2010. Infosys did not disclose the
revenue of Fluido but said it expects to close the acquisition during October-December.

To read more, click here: Livemint

ITC ENTERS HAND SANITIZER CATEGORY, AIMS TO TURN IT INTO 500 CR BRAND
Fast moving consumer goods firm ITC Ltd has entered the hand sanitiser segment with the launch of Savlon pen sanitizer spray. The move
augments the company’s hygiene portfolio, which currently has antiseptic liquid, hand wash and soap. ITC’s foray into hand sanitiser
segment pits Savlon against RB India-owned Dettol, HUL-owned Lifebuoy and Godrej’s Protekt.

To read more, click here: Livemint

8 OUT OF TOP 10 FIRMS LOSE INR 41,660 CR IN MCAP

To read more, click here: Livemint
Eight of the 10 most valued Indian companies together suffered an erosion of ₹41,660 crore in
their market valuation last week, with Mukesh Ambani-led Reliance Industries (RIL) alone
accounting for over ₹15,000 crore.

To read more, click here: Livemint

FINANCIAL JARGON OF THE WEEK: q ratio

The Tobin's Q ratio equals the market value of a company divided by its assets' replacement cost. The Tobin's Q ratio is a ratio
devised by James Tobin of Yale University, Nobel laureate in economics, who hypothesized that the combined market value of all
the companies on the stock market should be about equal to their replacement costs.
 BHARAT PETROLEUM SHELVES BINA REFINERY IPO
PLAN

State-run Bharat Petroleum (BPCL), which owns Bina Refinery in an equal JV with
L
Oman Oil Company, has shelved its IPO plans for the company as “it generates enough
o
cash” to complete the ongoing expansion and as also “because Kuwaiti Petroleum is
r
keen to pick up a stake”, says a senior official.
e
m
To read more, click here: Livemint
i
p
INDIA’s FUEL DEMAND ROSEs0.8% IN AUGUST
u
Consumption of fuel, a proxy for oil demand, totalled 16.60 million tonnes, data from the Petroleum Planning and Analysis Cell of the oil
m
ministry showed. Sales of gasoline, or petrol, were 7.8% higher from a year earlier at 2.36 million tonnes. Cooking gas or liquefied
Lorem ipsum dolor sit
d
petroleum gas (LPG) sales increased 2.8% to 2.11 million tonnes, while naphtha sales surged 1.1% to 1.09 million tonnes.amet, Sales of
consectetuer
o
bitumen, used for making roads, were 18.9% up,l while fuel oil use edged up 8.3% in August. adipiscing elit, sed diam
nonummy nibh euismod
o
To read more, click here: Livemint tincidunt ut laoreet dolore
r
erat magna aliquam erat
s
volutpatut wisi enim ad
RUPEE, i BOND PRICES GAIN AS RETAIL INFLATION minim veniam, quis no
EQUITY INDICES t
EASES a
BELOW RBI TARGET strud exerci tation lorem
INDIA wisi ullamcorper.
The Indian
m rupee and 10-year government bond prices on Friday rose after retail inflation for
SENSEX: 35742.07 NIFTY 50: 10754.00 Auguste fell below the Reserve Bank of India’s (RBI) medium term target of 4% for the first
US time int 10 months. At 9.15am, the rupee was trading at 71.75 a dollar, up 0.65% from its
Wednesday’s
, close of 72.19. The currency opened at 71.70 per dollar. The 10-year bond yield
DOW-JONES: 22445.37 NASDAQ 6332.99
stood cat 8.081%, from its previous close of 8.134%. Bond yields and prices move in opposite
ASIA directions.
o
NIKKEI 25: 20166.19 HANG SENG: 25753.42 n
To reads more, click here: Livemint
EUROPE
e
FTSE: 6721.17 CAC 40: 4694.38 c
t
COMMODITIES INFOSYS SPENDS $76 MILLION TO BUY FINNISH FIRM
e
GOLD: 30847.00 SILVER: 36362.00
FLUIDOt
CURRENCY Infosys,
u one of India’s largest IT services firm, has agreed to spend $76 million to buy Fluido, a
USD: 70.145 EURO: 79.74 GBP: 88.7750 Salesforce
e consulting partner in the Nordics in Europe, the company said on Friday, marking
r
the second acquisition under chief executive officer (CEO) Salil Parekh, who took over nine
monthsd ago.
o
l more, click here: Livemint
To read
o
r
UPCOMING FINANCE COMPETITIONS t
e
XXXXXXXXXX: Deadline d
i
a
m
w
i
s