Mumbai: The Sensex fell on Friday, snapping a four-day rise, as profit-taking hit recent outperformers such as ICICI Bank, while investor sentiment was also hit after dozens of erroneous orders triggered a brief halt in the Nifty. ICICI Bank shares fell 1.7 per cent, while mortgage lender HDFC fell 5.08 per cent after Carlyle Group sold a 3.7 per cent stake for $841 million. The NSE was brought to a...
09:14 AM, Oct 05, 2012
Mumbai: Stating that economy is recovering now, President Pranab Mukherjee on Thursday expressed the hope that it will be back in path of steady growth soon. "The Indian economy is witnessing a rebound. I do hope that shortly it would come back in the path of steady growth," Mukherjee said after inaugurating the 'India Chem 2012' conference in Mumbai. "Our National Manufacturing Policy envisages increasing the share of manufacturing from...
06:47 PM, Oct 04, 2012
Mumbai: The BSE Sensex rose to a 15-month high, while the Nifty hit 17-month highs, after the government's reform proposals for the insurance and pension sectors sparked gains in financial stocks such as State Bank of India and ICICI Bank. State Bank of India gained 2.1 per cent, while ICICI Bank rose 2.9 per cent. The BSE Sensex rose 1 per cent to 19058.15. The 50-share Nifty gained 0.98 per...
09:31 AM, Oct 04, 2012
Mumbai: Rising for the third straight day, the Sensex on Wednesday gained 46 points to close at 18,869.69 on good buying in oil&gas, PSU and healthcare stocks amid a weak global trend. After opening at 18,841.49, the 30-share Sensex moved in a narrow 89-point range as trading remained largely lacklustre. It touched 18,905.62, an over 14-month high, and the day's low of 18,816.57, before ending at 18,869.69 - a level...
09:46 AM, Oct 03, 2012
The Kelkar panel on Friday said that India was on the edge of a 'fiscal precipice' and that it should urgently slash fuel, food and fertilizer subsidies to cut its fiscal deficit. A wary government, however, said that certain levels of subsidies were unavoidable. The report goes on to add that the current deficit level of 5.1 per cent could balloon up to 6.1 per cent if nothing is done, ...
08:34 AM, Sep 29, 2012
Mumbai/Bangalore: India will likely borrow an additional 500 billion rupees for the year ending in March and miss its fiscal deficit target, a Reuters poll showed, raising doubt about the fiscal discipline of a country whose credit ratings are under threat. India's fiscal deficit is expected to rise to 5.8 per cent of gross domestic product (GDP), higher than the government's target of 5.1 per cent of GDP given in...
01:59 PM, Sep 27, 2012
Sagarika Ghose: Hi there, Yes, there is political sound and fury about the government's decision to allow 51 per cent Foreign Direct Investment in multi-brand retail. But amidst the heat we've decided to shed some light. What does FDI in retail actually mean? We're exploring that tonight by asking our panellists to respond to viewers questions. We've opened up the question, "Walmart boon or bane" on our website ibnlive.com and...
11:10 AM, Sep 25, 2012
New Delhi: Against the backdrop of widespread uproar over decision on FDI, Prime Minister Manmohan Singh is likely to explain to the nation tomorrow the reason behind the step and the benefits it would entail. The Prime Minister's explanation could be in the form of a written message or a televised address, sources said. Singh is expected to spell out the reasons that prompted the government to allow FDI in...
08:42 PM, Sep 20, 2012
New Delhi: Prime Minister Manmohan Singh on Saturday indicated that the government was looking at growth-oriented reforms and defended the diesel price hike saying it wasn't wrong. "The recent increase in diesel prices is a move in the right direction," Manmohan Singh said at the Planning Commission meet unveiling the 12th Five Year Plan. The Prime Minister also said it was important to take risks for growth. "Courage and some...
11:07 AM, Sep 15, 2012
CII President Adi Godrej says diesel price hike was needed to bring down fiscal deficit. ...
10:19 AM, Sep 15, 2012
New Delhi: The government could announce spending cuts for the 2013 fiscal year on Saturday, although the size of the cuts was not immediately clear, two government sources said. Prime Minister Manmohan Singh will chair a meeting of top government economists to discuss India's five-year economic strategy and look at trimming expenditure in the light of an economic slowdown. "The government is quite serious to keep the fiscal deficit as...
07:30 AM, Sep 15, 2012
Mumbai: The rupee gained a hefty 71 paise to trade at two-month high of 54.72 against the dollar in early trade on Friday at the Interbank Foreign Exchange as the American currency weakened against euro overseas. Dollar selling by exporters and banks amid a strong opening in the domestic equity market also supported the local unit, forex dealers said. The government's decision to hike diesel prices by Rs 5 per...
09:38 AM, Sep 14, 2012
Mumbai: Equity benchmarks rose over 2 per cent - the highest single day gain in 12 months - to end at seven month highs as investors are viewing the governments steps on fuel price as a precursor to the Reserve Bank of India cutting policy rates shortly. The 30-share BSE Sensex surged 443.11 points to close 18464.27 and the 50-share Nifty vaulted 142.30 points to finish the day at 5577.65....
09:25 AM, Sep 14, 2012
Mumbai: The rupee depreciated by 20 paise to 55.41 against the dollar in early trade on Thursday on fresh demand for the American currency. Forex dealer said increased demand for the US dollar from oil importers mainly put pressure on the local unit, however, higher opening in the equity market and weak dollar against other currencies overseas capped rupee's losses. Meanwhile, the BSE benchmark Sensex rose by 42.56, or 0.24...
09:33 AM, Sep 13, 2012
Mumbai: The Sensex on Thursday edged up 21 points to close at 18,021.16, a seven-month high, as cautious sentiment prevailed ahead of the US Federal Open Markets Committee (FOMC) outcome later in the day and monthly inflation data on Friday. After closing above 18,000 mark on Wednesday, the BSE benchmark index opened marginally higher but failed to build on major gains as trading remained range-bound between 17,976.28 and 18,062.68. The...
09:16 AM, Sep 13, 2012
New Delhi: Coal block allocations and other scams aside, the top worry for Indians are not the scams but economic stability says a survey done by Pew Research. Corruption in the government and corporate sector and crime come second on the list. According to the survey, only 49 per cent of Indians are satisfied with the economy in 2012 as opposed to 56 per cent in 2011. Also, 66 per...
07:27 AM, Sep 13, 2012
New Delhi: Indian employers are set to slow the pace of hiring in the October-December quarter as majority of them plan to keep the workforce at current levels on account of sagging global economy and policy paralysis on the domestic front, says a survey. According to the Manpower employment outlook survey, they are downshifting from the vigorous hiring pace seen over the past two years, with just 27 per cent...
02:24 PM, Sep 11, 2012
Mumbai: In volatile trade, the Sensex extended its winning run for the fifth day on Tuesday by rising 86 points on buying in IT, power and banking shares. The BSE benchmark index, which had gained 455 points in the last four trading sessions, opened a tad higher from Monday's level on flat global cues. With momentum picking speed in the last two hours, Sensex finally closed 86.17 points, or 0.49...
09:28 AM, Sep 11, 2012
Mumbai: The BSE Sensex lost as much as 190 points intraday on Wednesday as heavy fall in major blue chips indicated that the foreign institutional investors may have offloaded some exposure. The Indian rupee too depreciated by 23 paise to 55.88 against the US dollar. But the defensives like HDFC, ITC, HUL and TCS managed to limit the downside. Another reason could be that investors may have lost patience to...
09:36 AM, Sep 05, 2012
New Delhi: There has been marginal improvement in the economic growth during the first quarter (April-June) of the current fiscal. The GDP growth for Q1, 2012-13 has been 5.5 per cent compared to 5.3 per cent in the January-March (Q4) quarter, 2011-12. The comparative figure in Q1 of 2011-12 was 8 per cent. For the year, growth dropped to a three-year low of 6.5 per cent against 7.8 per cent...
11:33 AM, Aug 31, 2012
