Mumbai: The Nifty closed at its highest level in a month on Thursday, led by gains in rate-sensitive stocks such as HDFC after exports data stoked rate-cut hopes. The BSE benchmark index ended above the 19,000 level for the first time since April 2, while the benchmark 10-year bond yields fell to their lowest since July 28, 2010. Gains also tracked a rebound in European shares as this week's brutal...
09:59 AM, Apr 18, 2013
Boston: Vowing to deliver on the fiscal roadmap, Finance Minister P Chidambaram has expressed confidence that elections are not a hitch in carrying out reforms including fuel price adjustments. Addressing an investor meet hosted by Citi Group in Boston, he said while fiscal deficit will be reduced by 60 basis points each year, the current account deficit (CAD) will be narrowed by raising exports. Citi said in a note after...
06:16 PM, Apr 17, 2013
Mumbai: Tata Consultancy Services Ltd, India's top software services provider, matched estimates with a 22 per cent rise in quarterly profit and said it expects to grow revenue faster than a key industry-wide forecast for the year starting this month. Net profit for the fiscal fourth quarter ended March 31 rose to 35.97 billion rupees from 29.46 billion rupees in the year-earlier period, as it won orders from customers including...
05:32 PM, Apr 17, 2013
Mumbai: In a volatile trade, the BSE benchmark Sensex on Wednesday declined by 14 points on fag-end selling by funds in heavyweights like RIL, HDFC and TCS amid a weak global trend. Snapping two-days of gaining trend, the Sensex fell 13.77 points, or 0.07 per cent, to close at 18,731.16. The gauge touched the day's high of 18,869.88. The index had recorded a biggest climb in last session. Similarly, the...
09:49 AM, Apr 17, 2013
Mumbai: The rupee on Tuesday gained 19 paise to 54.43 against the dollar in early trade at the Interbank Foreign Exchange on Tuesday on increased selling of the US currency by exporters. Besides, strengthening of yen and euro against the dollar in overseas market and a higher opening in the equity market also supported the rupee, forex dealers said. The rupee had lost 10 paise to close at 54.62 on...
10:07 AM, Apr 16, 2013
Gold prices have slipped in the past six months and the near-term outlook is bearish. Why is the yellow metal losing its sheen and is it time to dump the metal from your portfolio? ...
11:24 PM, Apr 15, 2013
The milieu at Shantivan, a garden in Mumbai's tony Malabar Hill area, on February 17 was like a hangover from Valentine's Day. Placards displaying messages like 'Love is all we need' were tied to tree branches and hearts were chalked with bounty throughout the green sprawl. Except that it wasn't an ode to Cupid. The occasion was the second monthly lunch hosted by Seva Caf. Omnipresent at the venue was...
03:45 PM, Apr 15, 2013
New Delhi: Declining price of vegetables pulled down inflation to over three-year low of 5.96 per cent in March, which may prompt the Reserve Bank to consider a rate cut in its annual monetary policy next month. Inflation based on the Wholesale Price Index (WPI) stood at 6.84 per cent in February. In March, 2012, it was 7.69 per cent. The 5.96 per cent March-end inflation is much lower than...
12:33 PM, Apr 15, 2013
New Delhi: Finance Minister P Chidambaram will seek to drum up foreign investment from the United States and Canada this week to fund a record high current account deficit, even as policymakers debate the risks of over-reliance on foreign investors to finance the gap. As Chidambaram kicks off a week-long North America trip, his officials are working on a series of steps to attract at least $20 billion in new...
04:59 PM, Apr 14, 2013
New Delhi: Finance Minister P Chidambaram is embarking on a week long visit to Canada and the US on Sunday to sell India's growth story to foreign investors and participate in the World Bank/IMF spring meetings in Washington. During his tour, he is expected to talk about the recent steps taken by the government to speed up large projects and measures to bring down fiscal deficit. With India facing high...
06:24 PM, Apr 13, 2013
New Delhi: Expressing disappointment over poor industrial performance, India Inc on Friday pressed for rate cut by the Reserve Bank of India (RBI) to boost production and further revive the economic growth. Industry chamber FICCI said the RBI should intervene and cut interest rates. "The IIP data for February calls for serious attention. It is important that RBI focuses on bringing down interest rates to stimulate investments which will further...
05:32 PM, Apr 12, 2013
New Delhi: The Finance Ministry on Friday made a strong case for rating upgrade of Indian economy by global agency Fitch on the back of increasing investments, declining import of gold and government's commitment to fiscal prudence. The issue of rating upgrade was raised by Finance Ministry officials at a meeting with the representatives of Fitch here. The meeting was attended by Department of Economic Affairs Secretary Arvind Mayaram, among...
04:53 PM, Apr 12, 2013
Berlin: Pitching for investments from Germany and other countries, Prime Minister Manmohan Singh on Thursday said government's resolve to boost economic growth remains "unwavering" and underlined that intense debates back home on the policy issues have not stopped it from taking hard decisions. Manmohan pointed out that trials of the global economy have led to repercussions in India as well and India's economic growth has slowed down. "In response, our...
10:59 PM, Apr 11, 2013
London: British Prime Minister David Cameron delivered an emotional tribute to Margaret Thatcher in parliament on Wednesday, but political opponents boycotted the debate on her legacy, underlining how divisive a figure she remains even in death. MPs were recalled from their holidays for the first time for the death of a public figure since Queen Elizabeth's mother died in 2002, reflecting the "Iron Lady's" place in history. Thatcher, who died...
04:47 AM, Apr 11, 2013
New Delhi: Advocating an open set of rules for overseas investors, NRI industrialist Lord Swraj Paul has said that India should just specify the level of permitted foreign investment in each sector and let the companies accordingly invest without any individual approval procedures. Terming the current economic problems as a course correction and a passing phase, he also said that India's economic growth prospects remain intact and the country needs...
12:56 PM, Apr 08, 2013
Mumbai: Key equity benchmarks ended a listless day of trade in the red. The BSE benchmark Sensex ended down 12.45 points at 18437.78, after touching an intraday low of 18,504.48. The NSE benchmark Nifty closed down 10.30 points at 5542.95. Shares of Bharti Airtel ended up nearly 4 per cent after the Supreme Court on Monday, allowed India's largest telecom operator, along with Vodafone and Idea Celluar, to maintain pacts...
09:40 AM, Apr 08, 2013
Bangalore: The Reserve Bank of India (RBI) would further ease its monetary policy if inflation comes down, the central bank's governor D Subbarao said Saturday. "We hope that as we go forward, inflation will come down and if that happens, it would be possible for the Reserve Bank to further ease monetary policy," Subbarao asserted at an interactive session of the Federation of Karnataka Chambers of Commerce & Industry (FKCCI)....
11:30 PM, Apr 06, 2013
Mumbai: The rupee on Friday gained seven paise to 54.80 against the dollar in early trade at the Interbank Foreign Exchange on increased selling of the US currency by exporters. The local currency had lost 44 paise to hit one-month low of 54.87 a dollar on Thursday due to heavy capital outflows. Forex dealers said increased dollar selling by exporters helped rupee to trade a shade higher but the US...
09:54 AM, Apr 05, 2013
Mumbai: The Nifty is consolidating around 5550 after breaching it on the downside during the day. Blue chip stocks like L&T, JP Associates, Reliance Industries took a breather in trade today after heavy battering in previous sessions. The Nifty has lost 173 points or 3 per cent in last two days. FIIs have turned net sellers in the market pulling out close to Rs 700 crore in the same period....
09:32 AM, Apr 05, 2013
Mumbai: Reserve Bank Governor D Subbarao has said that price stability was necessary for ensuring sustainable growth in the long term as it helps investors and consumers to take informed decisions. "There might be some trade-off in the short term but in the medium to long term, you need price stability for investors and consumers to make informed choices, a necessary condition to stimulate growth", he said in an interview...
05:00 AM, Apr 05, 2013
