Gold Silver Reports (GSR) – Raymond Rises On Thane Land Development Plans – Shares of the Mumbai-based textile maker rose as much as 4.54 percent, the most since April 9, to Rs 1,113 after its board approved Rs 300 crore development plan for 20 acres of land in Thane near Mumbai. Meanwhile, Raymond’s net profit in March quarter fell 61 percent to Rs 53 crore while its revenue rose 11 percent to Rs 1,630 crore.
Neal Bhai
Trump Trade War Spurs India to Import More Oil, Drones From U.S.
Gold Silver Reports (GSR) – Trump Trade War Spurs India to Import More Oil, Drones From U.S. — Asia’s third-largest economy could bridge the surplus by up to $4 billion through oil imports alone, government officials said, asking not to be identified as they are not authorized to speak to the media.
Google CEO Pichai Set to Cash In $380 Million Award This Week
Gold Silver Reports (GSR) – Google CEO Pichai Set to Cash In $380 Million Award This Week – Pichai, 45, who has led Alphabet Inc.’s Google since 2015, received the shares before his promotion to senior vice president of products a year earlier, when he took over many of co-founder Larry Page’s responsibilities. The award swelled in value as Alphabet’s stock surged 90 percent since the grant date, compared with a 39 percent advance of the S&P 500. He has received two more nine-figure stock grants since then. The company has yet to disclose Pichai’s compensation for 2017.
U.S. Softens Stance on Rusal Sanctions; Aluminum Plunges
Gold Silver Reports (GSR) – U.S. Softens Stance on Rusal Sanctions; Aluminum Plunges – the first time, the U.S. Treasury discussed a path for lifting the sanctions on Rusal, saying it would provide relief if Oleg Deripaska relinquished control. It also extended the deadline for companies to wind down dealings with the Russian aluminum producer by almost five months.
Foreign Investors have Pulled out Nearly Rs 8,000 Crore from the Indian Capital Markets
Gold Silver Reports (GSR) – Foreign investors have pulled out nearly Rs 8,000 crore from the Indian capital markets — This comes following an inflow of Rs 11,654 crore in equities last month and an outflow of over Rs 9,000 crore from the debt markets.