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Sensex up as Jan inflation data boosts stocks

Mumbai: January inflation data easing to 6.55 per cent gave a fillip to the market, pushing Nifty above the 5400 mark. The index is trying hard to breakout of the consolidation range. A close above 5400 will make bearish traders a bit jittery to hold short positions. The Sensex was up 58.36 points or 0.33 per cent at 17831.20, and the Nifty was up 21.55 points or 0.40 per cent...

Dear FM, here is India Inc's Budget 2012 wish list

A date is finally set. The Union Budget will be presented on March 16 post the State elections. This could be the UPA government's make-or-break Budget. The economy is going through a slowdown. The bureaucracy is in a state of paralysis and corporate India is suffering from a bout of depression. Given these fiscal and political constraints can Pranab Mukherjee change the mood of the nation? Will he present an...

Sensex ends in green; SBI, SAIL in Q3 limelight

Mumbai: The Indian market has kept investors and traders guessing on its next move after a stellar rally of 20 per cent in 40 days. For Nifty, Monday's close was the sixth day of consolidation within the 5300-5400 range. While the rally appears to have lost its steam, it has refused to drift lower. This has baffled the market participants who cannot decided whether to hold long positions or create...

Sensex closes 85 pts down on weak global shares

Mumbai: The Sensex recovered more than half of its losses in the last hour of trade but closed 85 points down on Friday. The downtrend in global markets had negatively impacted sentiments although it was quite the opposite in the morning. Profit booking too weighed heavy on Nifty, which rallied quite sharply to reach the 5400 mark. Overall, bears could not take full charge of the street, which suggests that...

Sensex closes 123 pts up; Hindalco shares fall

Mumbai: The 50-share NSE Nifty closed above the 5400 mark on Thursday, for the first time since August 3, 2011. It was completely lacklustre since the opening trade today, but it strengthened quite nicely in late trade with support from banks, technology and metals stocks. The market managed to cross this psychologically important level after seeing consolidation in a range of 5,320-5,400 this week. The BSE benchmark rose 123.43 points...

Meet India's 15 top paid CEOs

New Delhi: Naveen Jindal, the Chairman and Managing Director of Jindal Steel, is the top paid CEO in the country, with an income of more than Rs 67 crore per annum, according to data from Capitaline Database. Following Jindal is Kalanithi Maran, the Chairman & Managing Director of Sun TV Network. Maran's annual income amounts to more than Rs 64 crore. List of 15 top paid CEOs in India: 1)...

Volatile Sensex closes 85 points up

Mumbai: Volatile! That would be the best way to describe on Wednesday's session ahead of the outcome on Greece's debt deal. The Nifty made many attempts at reaching the 5,400 level but was met with resistance throughout. After an extremely fickle last hour, the Nifty closed the day at 5,368 gaining 33 points while the Sensex too put on 84 points to shut shop at 17,707. The market managed to...

Sensex closes 85 points down; metal stocks fall

Mumbai: The market snapped five-day winning streak on Tuesday, weighed down by capital goods, metals, auto stocks and heavyweights Bharti, Infosys & SBI. However, buying in oil & gas and private banks limited the downside. The Nifty closed below the 5350 level, falling 26.5 points to 5,335.15. Meanwhile, the Sensex dropped 85.11 points, to close at 17,622.20. Devangshu Datta, Consulting Editor at Outlook feels the market is not likely to...

Sensex ends 102 pts up; metals, banks lead

Mumbai: The market continued its upward journey for the fifth consecutive session on Monday, led by banks, capital goods and metals stocks. It started off with more than 200 points gains on the Sensex and even the Nifty was near to the 5400 mark. However, the second half of trade was quite volatile due to fall in index heavyweight Reliance Industries. European markets also dampened the spirit of market a...

'Telecom review petition's scope quite limited'

Asim Abbas, Partner with Khaitan & Co spoke to CNBC-TV18 about his view on the legal recourse that telecom operators are looking forward to with regard to the 2G verdict. He says that the scope for the review petition is quite limited. Below is the edited transcript of the interview. CNBC-TV18: How far can this legal recourse really go because the argument that's being presented by foreign telecom companies is...

Sensex jumps 14 pc since Jan, closes at 17,605

Mumbai: The market closed the week with a flourish. A late burst of buying powers the Nifty above the 5,300 mark. The rupee too rallies, making a fresh 3-month high below the 49-mark. The Sensex shot up nearly 14 per cent and Nifty soared 15 per cent in five weeks, supported by banks, capital goods, metals and oil & gas stocks. Foreign institutional investors have bought nearly Rs 15,000 crore...

Innocent telecos will suffer in 2G: Experts

New Delhi: The Supreme Court on Thursday delivered a blow to the telecom industry by cancelling all licenses issued post January 2008, all in relation to the multi-crore 2G scam. 122 licenses have been cancelled out of which 21 belongs to Videocon, Uninor holds 22, Idea 9, Tata Teleservices 3, Swan Telecom 13 and Loop 21. Penalties have also been slapped on Uninor, Swan Telecom and Tata Tele of Rs...

Bharti Airtel gains on likely spectrum allocation

Mumbai: Bharti Airtel gained around 7 per cent at Rs 386 on likely allocation of spectrum on Thursday. However, The Supreme Court (SC) has cancelled 122 licenses issued after January 2008. TRAI will make fresh recommendations on grant of licenses. Also, all spectrum issues post Jan 2008 to be cancelled. The government will take decision on licenses 1 month post TRAI recommendation, reports CNBC-TV18. Around 9 licenses of Idea have...

Sensex closes 131 pts higher; RIL, SBI trim gains

Mumbai: The market closed higher for third consecutive session, though it erased some gains post Supreme Court's verdict on 2G case. Capital goods, technology, private banks and metals stocks, and Bharti Airtel helped the market. However, fall in Reliance and SBI trimmed gains in the last trading hours. The Sensex rose 131.27 points or 0.76 per cent, to close at 17,431.85 while the Nifty went up 34.20 points or 0.65...

Sensex ends 107 pts higher; metals, autos rally

Mumbai: The market retained its upmove on the first day of February, showing a strong follow-up to the January rally. It smartly rebounded in the last couple of hours of trade - especially after positive European cues post China's PMI data. Equity benchmarks closed at nearly two-month high. The Sensex rose 107.03 points, to close at 17,300.58 after showing 239 points recovery from intraday low of 17,061.55. The Nifty closed...