New Delhi: Korean mobile handsets giant Samsung Electronics said the company had targeted 60 per cent share of the Indian smartphone market in 2012. "According to third party data, we have almost 46 per cent share in the Indian smartphone market. We are confident of increasing this to 60 per cent this year," Ranjit Yadav, India Head - Mobile and IT, Samsung told reporters here. The Indian smartphone market is...
10:41 AM, Jun 02, 2012
New Delhi: Information technology sector in the country witnessed steep decline in hiring activities as most companies embraced cost cutting measures to tide over uncertain economic conditions, say experts. "Hiring activities have seen a dip of 29 per cent in IT and ITeS sectors in May 2012 from the preceding month," MyHiringClub.com CEO Rajesh Kumar said. However, he said that other industries have increased recruitment activities by 13-15 per cent...
04:44 PM, Jun 01, 2012
Mumbai: It's been a rough start for the June series as the Nifty shed 80 points to close below 4850 dragged down by rate sensitives, commodity, utilities and technology stocks. A slew of bad economic cues from across the globe didn't help Indian equities either. Reports of monsoon rains over India's mainland will be delayed by about four days also weighed on sentiment. China's official purchasing managers' index fell to...
09:46 AM, Jun 01, 2012
Mumbai: The rupee recovered from a weak open to gain to above 56 to the dollar on Friday, though broader sentiment was weak as the euro fell to a 2-year low, reflecting the worsening euro zone debt crisis and disappointing Chinese manufacturing data. At 9:10 am the partially convertible rupee was at 55.99/01 per dollar, stronger than its 56.08/09 close on Thursday. ...
09:27 AM, Jun 01, 2012
For the year, growth dropped to a three year low - 6.5 per cent against a robust 7.8 percent last year. ...
10:06 PM, May 31, 2012
Mumbai: The rupee fell to a record low on Thursday and is headed to its worst month in half a year as global risk aversion deepened, while caution prevailed ahead of economic data that is expected to show a further slowdown in growth. Domestic bond yields also retreated, while stocks fell, on the last day of a rough month for Indian markets, as the weak sentiment from the euro zone...
09:21 AM, May 31, 2012
Bangalore: India's annual economic growth probably held steady in the January-March quarter at 6.1 per cent and the global economic slowdown, government policy paralysis and a record low currency suggest little chance of a pick up in the current quarter. A poll of 31 economists produced a median forecast of 6.1 per cent, unchanged from the growth of the October-December quarter. Forecasts ranged from 5.5 per cent to 7.3 per...
08:31 AM, May 31, 2012
Mumbai: The Indian market ended Wednesday' trade on a pessimist note as traders chose to sit on the sidelines ahead of the F&O expiry and Q4 GDP numbers slated for a release on Thursday. European markets slipped too after euro fell to its record low in 23 months as investors worried over Spain's banking problems. After more credit ratings downgrades of Spain and news of European Central bank rejecting Spains...
09:39 AM, May 30, 2012
Mumbai: Rupee was at day's low of 56.20 from 55.67/68 last close as traders continue to play on euro weakness, stock losses. Dealer with private bank says rupee may move toward life low of 56.40 in session, but unlikely to breach. The RBI has not been spotted in recent sessions, with traders saying the fall in rupee over past two sessions has been orderly, with exporter selling also seen. BSE...
09:26 AM, May 30, 2012
Liverpool: Former Liverpool defender Mark Lawrenson has warned that the best that the team can hope for next year is to finish sixth, as they are losing ground on their rivals in the transfer market the longer they go without a manager. The long-time Reds servant also hit out at the club's hierarchy and accused them of taking the side backwards. The 54-year-old argued that the team risk falling further...
03:51 PM, May 29, 2012
Mumbai: It was a dull session for the markets as investors chose to remain cautious ahead of the upcoming F&O expiry and Q4 GDP data numbers on Thursday. The Sensex shuts shop at 16438.58 up 21.74 points or 0.13 per cent and the Nifty closed at 4990.10 up 4.45 points or 0.09 per cent. The breadth of the market was positive. About 1425 shares advanced, 1255 shares declined, and 743...
09:13 AM, May 29, 2012
Moody's Investors Service says the depreciating rupee will only have a "limited" impact on India's sovereign ratings, as only 7 per cent of total government debt is placed overseas, comprising 5 pct of gross domestic product. The bigger pain would come in the private sector, Moody's said in a weekly credit report out on Monday, given that a falling rupee will raise the cost of paying back foreign currency borrowings....
03:04 AM, May 29, 2012
Moody's Investors Service says the depreciating rupee will only have a 'limited' impact on India's sovereign ratings, as only 7 per cent of total government debt is placed overseas, comprising 5 per cent of gross domestic product. The bigger pain would come in the private sector, Moody's said in a weekly credit report out on Monday, given that a falling rupee will raise the cost of paying back foreign currency...
04:15 PM, May 28, 2012
Kolkata: Attributing the slide in rupee value to various domestic and global factors, Union Finance Minister Pranab Mukherjee on Sunday said the Reserve Bank was taking steps to arrest the currency's depreciation. "There are a lot of reasons for this (depreciation). There is demand and supply in the market. In the US, there is surplus investment. It used to be a safe haven," he said. "Europe used to be an...
03:40 AM, May 28, 2012
Mumbai: The rupee depreciated by 27 paise to Rs 55.92 against the American currency in early trade on Friday on stronger dollar against euro and Asian currencies. Forex dealers said besides dollar's gains in the overseas markets on persistent eurozone worries, a weak opening in the stock market also put pressure on the local unit. However, the Reserve Bank's indication that it may sell dollars directly to oil companies capped...
10:45 AM, May 25, 2012
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