Mumbai: Morgan Stanley resumes coverage of United Spirits Ltd with an "overweight" rating and a target price of Rs 3,115. The investment bank says new owner Diageo Plc could implement a greater focus on profitable growth for the liquor maker.
Morgan Stanley says United Spirits could also focus on the "prestige" liquor segment, improving margins.
The bank also expects capital efficiencies, reduced leverage, strengthened leadership, and consistent disclosures to boost United Spirits' shares. As of 11.07 am, United Spirits shares were up 4.2 per cent at Rs 2,507.
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11:50 AM, May 22, 2013
Geneva: The H7N9 bird flu outbreak in China has caused economic losses of more than $6.5 billion so far, the UN Food and Agriculture Organization's chief veterinary officer said on Tuesday. "The economic impacts of H7N9 have been astounding," Juan Lubroth said during a presentation at the World Health Assembly in Geneva. "Over $6.5 billion has been lost in the agriculture sector because of prices, consumer confidence and trade. So...
08:35 AM, May 22, 2013
Washington: The Senate Judiciary Committee on Tuesday approved legislation that would bring about the biggest changes in US immigration policy in a generation, setting up a spirited debate in the full Senate in June 2013. By a vote of 13-5, the panel approved the nearly 900-page bill that would put 11 million illegal residents on a 13-year path to citizenship while further strengthening security along the southwestern border with Mexico,...
06:51 AM, May 22, 2013
Kolkata: To ensure added importance to tribals in the state, West Bengal Chief Minister Mamata Banerjee on Tuesday announced a separate department of tribal affairs, which would be under her. "Tribal people have many grievances, but they don't know where to lodge complaints to draw attention immediately. Therefore, a separate tribal affairs department will be created just like the minority affairs department and it will remain under me," Banerjee told...
02:49 AM, May 22, 2013
Washington: The United States and India on Tuesday asked the international community to take effective steps towards eliminating sanctuaries and infrastructure that support terrorism. After talks between visiting Indian Home Minister Sushil Kumar Shinde and US Secretary of Homeland Security Janet Napolitano, a joint communique said the two countries also agreed to enhance bilateral co-operation to combat terror financing and currency counterfeiting. The communique, issued after Napolitano and Shinde co-chaired...
12:30 AM, May 22, 2013
New Delhi: As Congress-led United Progressive Alliance completes four years in office on May 22, what is the mood in urban India? In a 12-city poll conducted by CNN-IBN in age group of 18 years or more, the verdict is emphatic and overwhelmingly against the current regime. The poll reveals that UPA government has lost credibility and Prime Minister Manmohan Singh no longer enjoys confidence of urban India. An overwhelming...
08:05 PM, May 21, 2013
Milan: Napoli president Aurelio De Laurentiis denies meeting former Chelsea coach Rafael Benitez on Monday but admits he is interested in selling Edinson Cavani to sign Manchester City's Edin Dzeko. Napoli is in the hunt for a new manager after Walter Mazzarri announced his departure. De Laurentiis says on Tuesday, "I didn't go to London to meet with Benitez ... it's true though that I've spoken with a lot of...
07:42 PM, May 21, 2013
London: Manchester United earned a record 60.8 million pounds in Premier League television revenue this season en route to a 20th English title. Deposed champion Manchester City, who finished 11 points behind United in second, received 58.1 million pounds, according to figures released by the league on Tuesday. Even finishing last was lucrative, with Queens Park Rangers returning to the second tier after earning 39.8 million pounds from TV companies....
04:55 PM, May 21, 2013
Washington: The US on Monday welcomed India's generous bilateral assistance to Afghanistan but remained non-committal on reports about Kabul seeking supply of military equipment from New Delhi. "We welcome efforts by Afghanistan's neighbours and other regional actors to promote Afghanistan's stability and economic development," State Department spokesperson Patrick Ventrell told reporters. He was responding to questions on the India visit of Afghan President Hamid Karzai during which according to media...
09:56 AM, May 21, 2013
Washington: Union Home Minister Sushil Kumar Shinde has visited America's top counter-terrorism center, to have the first-hand experience of its functioning. Shinde, who arrived here on Sunday, visited the centre on Monday. He is leading a high-powered India delegation for the second India-US Homeland Security Dialogue with Secretary of Homeland Security Janet Napolitano. He also visited the Fairfax County Adult Detention Center where he was given a tour and presentation...
09:17 AM, May 21, 2013
Manchester United manager Alex Ferguson capped his final season in charge of the English Premier League champions by clinching the League Managers' Association Manager of the Year award for the fourth time on Monday. The 71-year-old Scot's unparallelled success in British soccer ended on Sunday with a remarkable 5-5 draw against West Bromwich Albion. "In a way I am glad it is all over now because it has been hard...
08:23 AM, May 21, 2013
Patna: Amid sparring between ruling NDA partners in Bihar, the BJP on Monday said Chief Minister Nitish Kumar was duty-bound to strengthen the alliance as he has been an anti-Congress leader all his life. "Having been an anti-Congress leader during his entire public life, Nitish Kumar too has responsibility to strengthen NDA," BJP national vice-president and Rajya Sabha MP Prabhat Jha said. He expressed confidence that strains between BJP and...
05:46 PM, May 20, 2013
Seoul: North Korea fired two short-range missiles on Monday, making six launches in three days, and it condemned South Korea for criticising what it said were its legitimate military drills. South Korea's Defense Ministry said North Korea had fired one missile on Monday morning and a second one in the afternoon. Both were fired into the sea off North Korea's east coast, a ministry official said. The launches come hard...
03:17 PM, May 20, 2013
Patna: A ruling JD(U) legislator in Bihar on Monday filed a criminal defamation suit against RJD President Lalu Prasad for allegedly using unparliamentary language against him. JD(U) Legislative Council member Sanjay Singh filed the criminal defamation suit against the Rashtriya Janata Dal president in the court of Chief Judical Magistrate RK Yadav. It was admitted and listed for hearing on Tuesday. Singh has alleged that Prasad had made a derogatory...
12:55 PM, May 20, 2013
Washington: US President Barack Obama has asked Americans to be more competitive as millions of young people from countries like India, China and Brazil are joining the global workforce. "In today's hyper-connected, hyper-competitive world, with millions of young people from China and India and Brazil - many of whom started with a whole lot less than all of you did - all of them entering the global workforce alongside you,...
12:16 PM, May 20, 2013
Washington: A US-based Sikh group on Monday said that it will challenge the decision of an American district court last week to dismiss alleged human rights violations case against Punjab Chief Minister Parkash Singh Badal. The Sikh for Justice (SFJ) had filed the case of alleged human rights violations against Badal in 2012, but it was dismissed by a US district court in Wisconsin last Friday. The group said it...
11:40 AM, May 20, 2013
Singapore: Gold fell for an eighth straight session on Monday to its weakest level in over a month, as fears that the US Federal Reserve may wind back its economic stimulus programme hurt the metal's appeal as a hedge against inflation. Investors have been dumping gold, which is down 20 per cent so far this year, as stocks and the dollar continue to outperform. If gold closes in the red...
11:30 AM, May 20, 2013
Washington: Tornadoes tore through three central American states of Kansas, Oklahoma and Iowa with baseball-sized hail and wind blasts ripping roofs off homes and turning trees to matchsticks, as severe weather swept the region. A large "violent and extremely dangerous" tornado was spotted on Sunday night on the southwest side of Wichita, Kansas and a second confirmed one was seen near Edmond, Oklahoma, the National Weather Service said. Another tornado...
11:17 AM, May 20, 2013
Washington: NASA's Mars rover, Opportunity, has finished examining a fractured rock on the red planet intensely altered by water, providing evidence about a wet ancient environment possibly favourable for life. Opportunity is now driving to a new study area after a dramatic finish to 20 months on "Cape York." The fractured rock, called "Esperance," provides evidence about a wet ancient environment possibly favourable for life, mission's principal investigator, Steve Squyres...
09:41 AM, May 20, 2013
