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Luxury phone-maker Vertu is shutting up shop

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London, July 15 : Britain-based luxury phone-maker Vertu, which rolled out smartphones carrying hefty price tags, is closing down, the media reported.

The company recently faced financial difficulties and will be liquidated after a plan to save it failed, BBC reported.

Nearly 200 jobs will be lost as a result of the company’s liquidation.

“Well it’s gone into liquidation and I’m not being paid by them any more,” a spokesman for the firm was quoted as saying.

The company apparently struggled to find a customer base for its $46,600 polished 18-carat red gold phones, Mashable.com reported on Friday.

The past few years for the makers of the jewel-encrusted cellphones have been tumultuous, and all the $1,200 Vertu Grape Lizard Slip Cases in the world were not enough to save the company from its financial troubles, the report said.

Vertu was founded by Nokia in 1998, but it was sold in 2012. The following year, Vertu switched from using Nokia’s Symbian operating system to Google’s Android.

IANS

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Global cues push key indices higher

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Mumbai, April 24: Broadly positive Asian markets pushed the key Indian equity indices higher during the early morning trade session on Tuesday.

According to market observers, healthy buying in banking, automobile and healthcare stocks also supported the key indices’ upward movement.

Around 9.30 a.m., the wider Nifty50 of the National Stock Exchange (NSE) traded higher by 16 points or 0.15 per cent to 10,600.70 points.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 34,491.38 points, traded at 34,597.71 points — up 146.94 points or 0.43 per cent from its previous session’s close.

The Sensex has so far touched a high of 34,604.76 points and a low of 34,465.49 points during the intra-day trade.

The BSE market breadth was bullish with 1,024 advances and 549 declines.

IANS

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Key equity indices provisionally end in green

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Mumbai, April 23: The key Indian equity indices provisionally closed in the green on Monday on the back of healthy buying in consumer durables, healthcare and IT stocks.

However, selling pressure on metal and fast moving consumer goods (FMCG) stocks trimmed gains in the market.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed higher by 20.65 points or 0.20 per cent at 10,584.70 points.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 34,493.69 points, closed at 34,450.77 points (3.30 p.m.) — up 35.19 points or 0.10 per cent — from its previous session’s close.

The Sensex touched a high of 34,663.95 points and a low of 34,259.27 during the intra-day trade.

The BSE market breadth was bullish with 1,399 advances and 1,284 declines.

On Monday, the major gainers on the BSE were IndusInd Bank, Mahindra and Mahindra, Sun Pharma, Asian Paints and Yes Bank while HDFC Bank, Tata Motors (DVR), Coal India, Hero MotoCorp and ICICI Bank were among the major losers.

On NSE, the top gainers were IndusInd Bank, Mahindra and Mahindra and BPCL. The major losers were Hindalco Industries, Indiabulls Housing Finance and UPL.

On Friday, negative global cues such as high crude oil prices, along with a weak rupee and heavy selling pressure in banking stocks subdued the key Indian equity markets.

The Nifty50 closed at 10,564.05 points on Friday, down 1.25 points or 0.01 per cent from its previous close and the Sensex closed at 34,415.58 points, down 11.71 points or 0.03 per cent.

IANS

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TCS first Indian company to achieve $100 billion m-cap

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Mumbai, April 2: IT bellwether Tata Consultancy Services (TCS) on Monday emerged as the first Indian listed company to cross the $100-billion mark in terms of market capitalisation (m-cap).

Around 11 a.m., the m-cap of the company stood at Rs 675,934.95 crore or $101.60 billion on the BSE.

Shares of the company rose over four per cent to a new high of Rs 3,557 per share.

On Friday, the IT major’s shares rose over seven per cent to Rs 3,419.80 per share, taking its m-cap to over Rs 6.50 lakh crore or around $98 billion — close to the $100 billion mark.

The company’s shares had surged a day after its quarterly results announcement, which reported a net profit for Q4 at Rs 6,925 crore — up 4.6 per cent — from Rs 6,622 crore in the same period in 2017 and up 5.8 per cent sequentially from Rs 6,545 crore a quarter ago.

It also announced 1:1 bonus shares of Re 1 face value to its investors at the end of fiscal 2017-18.

IANS

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