V K Garg, CMD, PFC said FY09 profit is seen at Rs 1,4001,500 crore. He told CNBCTV18 that NIM growth has increased to 3.75% and the interest spread is now 2.09%. He added that the profit after tax has increased by 23% on YoY comparison. Source: Moneycontrol Top Headlines | 6 May 2008 | 4:43 pm
Dabur Retail seems to be the latest victim of the current inflationary pressures.The company, which had forayed into retail through its health and beauty stores just a couple of months ago, has trimmed down its expansion plans Source: Moneycontrol Top Headlines | 6 May 2008 | 4:18 pm
According to a Financial Times report, Bharti Airtel has bid for 51% of South African telecom company MTN. It\'s bid for controlling stake is at USD 21.8 a share; MTN is looking for USD 23.8 a share. Bharti has secured USD 12 billion of financing from Goldman Sachs and Standard Chartered, the report says. Source: Moneycontrol Top Headlines | 6 May 2008 | 2:32 pm
The Bombay High Court has postponed RILRNRL case to July 22. It has also continued the stay on the KG Basin gas sale, reports CNBCTV18. The Court said that RIL is free to negotiate with other third party suppliers. But in no way will this agreement prejudice in whose favour the decision is going to be made. Source: Moneycontrol Top Headlines | 6 May 2008 | 2:32 pm
CNBCTV18 has learnt from sources that Piramal Health is looking at acquiring a domestic formulations brand. The acquisition deal size is seen around Rs 150200 crore, sources added. Piramal Health Management has declined to comment on market speculation. Source: Moneycontrol Top Headlines | 6 May 2008 | 1:58 pm
Pujit Aggarwal, MD, Orbit Corporation, expects further correction of about 1015%. Gulam Zia, Head of Advisory Services, Knight Frank, too expects a further 510% correction in suburban areas of Mumbai like Andheri, Bandra, Borivali, Ghatkopar, Kurla, Mulund, Thane, and New Bombay. Source: Moneycontrol Top Headlines | 6 May 2008 | 1:50 pm
According to FT report, Bharti Airtel has bid for 51% of South African telecom company MTN. It\'s bid for controlling stake is at $21.8 a share; MTN is looking for $23.8 a share. Jo Johnson, Delhi Bureau Chief, FT feels that its going to be impossible for Bharti to make the bid on a debt base; it\'ll have to issue some equity somewhere. Source: Moneycontrol Top Headlines | 6 May 2008 | 1:22 pm
Birla Sun Life Insurance Company
Ltd (BSLI)`s market share has increased to 6.6 per cent
amongst private life insurance players as on March 2008. Source: Zee News : Business | 6 May 2008 | 12:47 pm
The Bombay Stock Exchange benchmark
Sensex was down 63 points at 1030 hrs on Tuesday as investors
booked profits in sector-specific stocks amid steady to weak
global cues. Source: Zee News : Business | 6 May 2008 | 12:47 pm
Yahoo Inc chief Jerry Yang signalled a more open stance towards Microsoft Corp on Monday, saying he had been seeking common ground when the software maker abruptly ended deal talks. Source: Zee News : Business | 6 May 2008 | 12:47 pm
Iraq on Monday signed two deals worth
USD 5 billion to buy 40 planes from Boeing and 10 planes from
Canada`s Bombardier to upgrade Iraqi Airways` aging fleet, the
Finance Minister said. Source: Zee News : Business | 6 May 2008 | 12:47 pm
World oil reached a new record
price above USD 120 a barrel on Tuesday as concerns over the United States economy eased, analysts said. Source: Zee News : Business | 6 May 2008 | 12:47 pm
The head of the Asian Development
Bank on Monday called for an "immediate response" to soaring food
prices which he said placed more than a billion Asians at risk
of malnutrition. Source: Zee News : Business | 6 May 2008 | 12:47 pm
The Asian Development Bank on Monday warned
that India`s foodgrain import could rise to 20 million tons by
2012 if adequate efforts were not taken to augment the output. Source: Zee News : Business | 6 May 2008 | 12:47 pm
LONDON (Reuters) - Oil could shoot up to $200 within the next two years as part of a "super-spike" driven by poor growth in oil supplies, investment bank Goldman Sachs said in a research note.
The Finance Ministry said that the interest rates likely to be stable in the near term reports CNBCTV18 quoting Newswire 18. It said that the liquidity in banking system is comfortable. Source: Moneycontrol Top Headlines | 6 May 2008 | 12:10 pm
The government said there is no proposal for a further cut in customs duty on newsprint, reports CNBCTV18 quoting NewsWire18. It also said that the alleged derivatives product loss by companies is under RBI scrutiny. IOC is eyeing an overseas acquisition jointly with Oil India. Source: Moneycontrol Top Headlines | 6 May 2008 | 12:08 pm
NEW DELHI (Reuters) - India's economy is expected to grow around 8 percent in the current fiscal year, and annual inflation, now at its highest in more than three years, may moderate in a few weeks, a top official said on Tuesday.
JAKARTA (Reuters) - Asian policymakers grappled with a response to inflation on Tuesday in an era of $120-a-barrel oil and record commodity prices, with Jakarta raising rates and others saying they hoped the problem would soon be under control.
NEW DELHI (Reuters) - The Indian economy is expected to grow by 8.5-8.8 percent in the 2008/09 fiscal year with stable interest rates but inflation may be higher than last year, an economic think-tank said on Tuesday.
LONDON (Reuters) - Oil stood firm on Tuesday after setting a new record high of nearly $121 a barrel, the latest spurt in an advance that has seen prices double over the past 12 months.
MUMBAI (Reuters) - India's main stock index eased 0.7 percent on Tuesday as top mobile operator Bharti Airtel fell more than 5 percent after it said it was in talks to buy a
MUMBAI (Reuters) - Prices of red and black gram are likely to move up in Indian markets due to a possible delay in the shipment from Myanmar, where a powerful cyclone disrupted normal life, traders and analysts said.
NEW DELHI (Reuters) - India may snap up a near-record 20 million tonnes of wheat from farmers in 2008, sharply up from a year ago, after the government hiked its purchase price hoping to avoid costly imports, a senior government official said.
The Mahindra group's real estate and infrastructure development arm Mahindra Lifespace Developers in collaboration with BE Billimoria and Co will develop a residential project for the upcoming multi-modal internal hub airport at Nagpur (MIHAN). Source: IndiaeNews.com: Business News | 6 May 2008 | 11:03 am
Kerala is all set to promote mango farming and apiculture as the state agriculture department will launch a special drive and distribute free saplings to raise the output. Source: IndiaeNews.com: Business News | 6 May 2008 | 11:02 am
Mahalaxmi Rubtech Limited, a group based here and engaged in the manufacture and export of textiles, rubber and chemical products, has had its clean development mechanism (CDM) project to use waste wood and sawdust in five of its boilers approved by the United Nations Framework Convention for Climate Change (UNFCCC). Source: IndiaeNews.com: Business News | 6 May 2008 | 11:00 am
Rostow Ravanan, CFO of Mindtree Consulting said MindTree bought Aztecsoft stake from Lehman, BSMA and Citigroup yesterday. All deals are valued at Rs 80 per share, he said. They will go ahead with the open offer and will buy as much as possible. Source: Moneycontrol Top Headlines | 6 May 2008 | 10:50 am
The rising value of the rupee from 2003-04 onwards has been inflicting a silent but hard blow on Keralites living abroad by reducing the rupee realisation of their foreign currency remittances to Kerala, according to a new study. Source: IndiaeNews.com: Business News | 6 May 2008 | 10:30 am
With Cobra emerging among India's top 10 beer brands in three years, its owner Lord Karan Bilimoria now plans to launch both the regular and stronger versions in cans, while exploring options to foray into wines. Source: IndiaeNews.com: Business News | 6 May 2008 | 10:03 am
Indian equities markets continued to trade in negative zone early Tuesday afternoon due to sustained selling pressure across key sectors. The realty sector was the worst hit. Source: IndiaeNews.com: Business News | 6 May 2008 | 10:02 am
India's mobile phone users will be able to switch to Apple's eagerly awaited iPhone later this year, courtesy telecom operator Vodafone. Source: IndiaeNews.com: Business News | 6 May 2008 | 10:01 am
NEW YORK (Reuters) - Yahoo Inc chief Jerry Yang was set to meet staff on Tuesday after signaling a more open stance towards a takeover by Microsoft Corp.
MUMBAI (Reuters) - India's gold demand slowed down on Tuesday ahead of the Akshaya Tritiya festival as prices hardened, denting the appetite of buyers, dealers said.
Indian salt is becoming uncompetitive in the global market due to the rising cost of transport even as Australian exports are on the increase, says an industry representative. Source: IndiaeNews.com: Business News | 6 May 2008 | 6:01 am
The Indian equities markets which opened with a loss Tuesday were trading flat soon after. Auto, IT and realty sectors were under selling pressure in early trade. Source: IndiaeNews.com: Business News | 6 May 2008 | 5:30 am
Initiate Fresh long position only if the stock moves above Rs 947 with tight stop-loss.Infosys The stock is experiencing selling pressure at higher levels. Utilise rallies to sell the stock with stop at Rs ... Source: Business Line - Home Page | 6 May 2008 | 12:00 am
Thiruvananthapuram, May 5 A passing western disturbance with an induced cyclonic circulation hovering in the Jammu and Kashmir region and neighbourhood has helped douse the searing heat in northwest and central India on Monday. The ... Source: Business Line - Home Page | 6 May 2008 | 12:00 am
Mumbai, May 5 BNP Paribas and Geojit Financial Services have worked out a plan to overcome the regulatory hurdle that has come in the way of the French banking group picking up the majority stake in the Kerala-based broking ... Source: Business Line - Home Page | 6 May 2008 | 12:00 am
The stock price of India Glycols has been witnessing a sharp surge in recent times with improved trading volumes on bourses. It gained about 23 per cent over a month and 5 per cent in a week’s time and closed at Rs 314 on Monday. Trading ... Source: Business Line - Home Page | 6 May 2008 | 12:00 am
Jairam Ramesh's proposal to make domestic manufacturing compulsory for supplying equipment to upcoming power plants has not gone down well with the industry and analysts. Source: Daily News & Analysis: Money News | 5 May 2008 | 10:26 pm
Supreme Court directed Reliance Industries to pay Rs 50 crore within two weeks to BPCL for the price difference in naphtha supplied by the state-run company to RIL plant in Raigad. Source: Daily News & Analysis: Money News | 5 May 2008 | 10:25 pm
Civil aviation minister Praful Patel has moved the SC seeking quashing of a Bombay HC order that allowed a CBI probe against him in an alleged Rs 50 crore fraud in a 1993 UTI scam case. Source: Daily News & Analysis: Money News | 5 May 2008 | 10:24 pm
In an environment that is becoming increasingly challenging by the day, twenty-six banks that have announced their results for the quarter ended March 2008 so far have fared pretty well. Source: Daily News & Analysis: Money News | 5 May 2008 | 10:17 pm
Public sector Uco Bank on Monday posted a 177.42% rise in net profit at Rs 86 crore during the fourth quarter of the fiscal ended March 31, 2008. Source: Daily News & Analysis: Money News | 5 May 2008 | 10:16 pm
A rise in the number of ratings, especially bank loan ratings (BLRs), in the last fiscal could work well for the bond market in India, says a Crisil report. Source: Daily News & Analysis: Money News | 5 May 2008 | 10:15 pm
Are you unhappy with the credit card you have been using, or that pre-approved card some bank has sent you? Wish to surrender the card at the earliest? Source: Daily News & Analysis: Money News | 5 May 2008 | 10:14 pm
Nothing moves investors like the ticker tape, or so it appears today. To say it is the pulse of the market would be an understatement. Source: Daily News & Analysis: Money News | 5 May 2008 | 10:09 pm
Rolta India Ltd is studying companies and technologies in the geospatial information system (GIS) space in the UK and the US. Source: Daily News & Analysis: Money News | 5 May 2008 | 10:08 pm
Caution will be the buzzword in the banking, financial services and insurance (BFSI) sector this year, as far as increments go. Or, so the indications are, so far. Source: Daily News & Analysis: Money News | 5 May 2008 | 10:07 pm
Third attempt after failure to win bids for Delhi, Mumbai.??After losing out to Bangalore-based GMR group for the controversial Delhi airport modernisation contract, Anil Dhirubhai Ambani group (ADAG) is now set to battle it in Prague, the capital of the Czech Republic, for which bids are shortly to be invited. Source: Business Standard | Front Page Headlines | 5 May 2008 | 6:51 pm
