Mumbai: The Bombay Stock Exchange (BSE) benchmark Sensex on Friday recovered by 88 points on rising investors confidence after wholesale inflation eased, raising hopes of an interest rate cut next week. Snapping a five-day long decline, the 30-share index gained 87.99 points, or 0.46 per cent, to 19,317.25. After a lower start, the gauge erased some of the 1.3 per cent losses in the last five days. The broad-based National...
09:36 AM, Dec 14, 2012
Mumbai: Key equity benchmarks ended trade directionless on Wednesday, despite a better-than-expected October IIP number. The Sensex closed the session down 31.88 points or 0.16 per cent at 19355.26, while the Nifty ended 18.00 points or 0.31 per cent down at 5880.80. Aided by smart recovery in manufacturing growth, factory output grew 8.2 per cent in October compared with the 5 per cent contraction recorded in the same month last...
09:25 AM, Dec 12, 2012
New Delhi: Withdrawal of support to government by an 'obstinate coalition partner' and flurry of reforms have improved India's growth prospects in 2013, said global rating agency Moody's on Tuesday. The agency said in a report, "...(growth prospects have improved) with a new finance minister, the withdrawal of an obstinate coalition partner and a flurry of pro-business reforms designed to lift the economy from its funk...These moves are working." The...
05:40 PM, Dec 11, 2012
New Delhi: A day after Parliament cleared foreign direct investment (FDI) in retail, Prime Minister Manmohan Singh on Saturday assured the nation again and said that the reforms push will benefit both farmers and consumers. "I am confident that it will benefit the farmers, and the consumers and our country," said Manmohan. While praising the reform policy, the Prime Minister said that the farmers, too, have supported the FDI. "Our...
12:49 PM, Dec 08, 2012
New Delhi: Opposition NDA and estranged UPA ally Trinamool Congress today criticised the decision to allow FDI in multi-brand retail, saying government has surrendered to crony capitalism and feared that the policy will spell doom for farmers and small traders. Rajya Sabha Chairman Hamid Ansari dispensed with Question Hour "as a rarest of rare cases" to resume discussion on the the motion moved by V Maitreyan (AIADMK) rejecting the government's...
01:39 PM, Dec 07, 2012
Mumbai: The rupee failed to maintain initial gains against the dollar in late morning deals on Friday and was quoted lower by 6 paise to 54.20 on fresh demand of the American currency from banks and importers amid its higher value overseas. The Indian rupee resumed lower at 54.25 per dollar as against the last closing level of 54.14 at the Interbank Foreign Exchange (Forex) Market. But it recovered afterwards...
10:07 AM, Dec 07, 2012
Mumbai: In line with the stock market, the Indian rupee failed to maintain initial gains against the American currency and was quoted at 54.53 per dollar on fresh dollar demand from banks on the back of firm dollar overseas. The rupee resumed lower at 54.38 per dollar as against the last closing level of 54.54 per dollar at the Interbank Foreign Exchange (Foerx) Market in view of persistent capital inflows...
09:56 AM, Dec 06, 2012
Mumbai: Walmart Stores Inc prepared its entry into India's supermarket sector in 2010 with a $100 million investment into a consultancy with no employees, no profits and a scant $14,000 in revenue. The company, called Cedar Support Services, might have been a more obvious selection four months earlier: it began its corporate life as Bharti Retail Holdings Ltd, according to documents filed with India's Registrar of Companies. The Cedar investment...
02:19 PM, Dec 05, 2012
Mumbai: The Indian rupee surrendered its initial gains against the dollar, but was still quoted higher by 12 paise to 54.56 per dollar in the late morning trade on mild selling of dollars by banks and exporters on the back of lower dollar in overseas. Persistent capital inflows from foreign funds into equity market also boosted the rupee value against the dollar, forex dealers said. The rupee resumed higher at...
09:44 AM, Dec 05, 2012
Kochi: Kris Gopalakrishnan, co-founder of Indian information technology giant Infosys, stares out from a wall-to-wall poster in a modern office building near Kochi. A caption reads, "We started Infosys in a room about this size; it's your turn now." His message is directed at aspiring entrepreneurs at Startup Village, a state-of-the-art glass and steel edifice tucked in a green corner of the port city, who dream of creating the next...
01:05 PM, Dec 04, 2012
Mumbai: The Indian rupee trimmed its earlier losses against the American currency, but was quoted still lower by six paise to 54.83 per dollar on mild dollar demand from banks and importers despite weak dollar overseas. The rupee resumed slightly lower at 54.78 per dollar as against Monday's closing level of 54.77 per dollar at the Interbank Foreign Exchange (Forex) Market and declined further to 54.94 per dollar before quoting...
10:20 AM, Dec 04, 2012
Mumbai: The BSE benchmark Sensex on Tuesday closed 43 points higher on the back of buying in Tata Power, RIL and SBI amid a firming European trend. The Sensex, which moved between 19,373.94 and 19,263.71, closed higher by 42.80 points, or 0.22 per cent to 19,348.12. The broad-based National Stock Exchange index Nifty edged up by 18.30 points, or 0.31 per cent to 5,889.25. Brokers said investors bought RIL shares...
09:29 AM, Dec 04, 2012
New Delhi: Employees across corporate India are expected to get a slightly lower average salary hike of 11 per cent in the current fiscal compared to 12-13 per cent last year as firms grapple with sluggish economic activity, experts have said. As per a survey conducted by recruitment tendering platform MyHiringClub.com, companies are expected to dole out an average pay hike of 11 for the year ended March 2013 lower...
10:49 AM, Dec 02, 2012
New Delhi: The economy extended its long slump in the quarter ending in September, with lower-that-expected growth keeping it on track for its worst year in a decade and underscoring the urgency of politically difficult reforms to spur a revival. Quarterly gross domestic product (GDP) grew 5.3 per cent from a year earlier, provisional government data showed on Friday, below the 5.5 per cent posted in the three months ended...
11:06 AM, Nov 30, 2012
New Delhi: India's economy probably expanded near its slowest pace in three years in the quarter to September, according to a Reuters poll, suggesting little signs of an early turnaround, despite reform steps taken by the government to lure back investors. Gross domestic product rose 5.4 per cent year-on-year in the July-September period, slightly lower than the 5.5 per cent increase in the previous quarter, and only just above the...
09:49 AM, Nov 30, 2012
Mumbai: Goldman Sachs raised India to 'overweight' from 'market-weight', citing growth recovery and inflation moderation ahead. The investment bank pegged December 2013 Nifty target at 6,600 points. "Reform initiatives and changes in government leadership this fall have created a sense of optimism among the domestic investor base for the first time in over a year, and the risk of policy missteps in 2013 has been lowered," said Goldman Sachs in...
09:59 AM, Nov 29, 2012
Mumbai: The BSE Sensex surged on Thursday to close at its highest in 19 months after the government agreed to a vote in parliament on allowing foreign entry in multi-brand retail, raising hopes that key reforms will pass through. Shares were further boosted after Goldman Sachs upgraded Indian stocks to 'overweight' from 'market-weight', citing growth recovery and inflation moderation ahead. The investment bank pegged the December 2013 Nifty target at...
09:21 AM, Nov 29, 2012
On Board PM's Special Plane: Swedish furniture major IKEA, which proposes to invest Rs 10,500 crore to set up stores in India, has got Department of Industrial Policy and Promotion nod and its application is now with Foreign Investment Promotion Board, Commerce and Industry Minister Anand Sharma said on Sunday. The Department of Industrial Policy and Promotion (DIPP), which is under the Commerce and Industry Ministry, has scrutinised the application...
06:11 PM, Nov 18, 2012
Mumbai: Falling for the sixth straight day on Friday, the Bombay Stock Exchange benchmark Sensex tumbled 162 points to end at nearly two-month low on late selling in realty, banks and auto shares as the RBI dashed hopes of an early rate cut saying inflation is still "quite high". Weak trends in global markets on Eurozone debt worries and the rupee trading above 55-levels against the dollar also hit the...
09:46 AM, Nov 16, 2012
Planning Commission Deputy Chairman Montek Singh Ahluwalia talks about whether Diwali has failed to lift the mood of gloom. ...
11:40 PM, Nov 12, 2012
