The Reserve Nank of India, or RBI will be hearing Sahara India Financial\'s case again, after being directed to do so by the Supreme Court. Last week, the Central Bank had barred Sahara India Finance from accepting fresh deposits from the public. Source: Moneycontrol Top Headlines | 12 Jun 2008 | 4:14 pm
JSW Steel stocks have been down 9% in early morning trade. even now it\'s still down by about 6%. Sajjan Jindal said that there was a 510% erosion in the profit margins of JSW Steels over the last 34 months. This pressure on the margins was on account of input costs and devaluation of the rupee. Source: Moneycontrol Top Headlines | 12 Jun 2008 | 2:55 pm
At the IFCI board meet today, issues relating to induction of strategic investor and optionally convertible debentures held by government will be discussed. Another issue is the reduction of stake of one of the shareholders, resulting in reduction of capital by about 3%. Source: Moneycontrol Top Headlines | 12 Jun 2008 | 2:28 pm
According to David Carr, Group Head of Fixed Income Sales at Standard Chartered Bank said that against the rupee, the India story is fabulous. When he traveled around the world, he has seen investors who are looking for opportunities to buy in India. Source: Moneycontrol Top Headlines | 12 Jun 2008 | 2:00 pm
The government has announced subsidy for fertiliser companies. Complex fertilizer manufacturers like Tata Chemical, Coromandel Fertilizers, Zuari Fertilizers, and Gujarat Narmada Valley Fertlizers Company will benefit from this move. Source: Moneycontrol Top Headlines | 12 Jun 2008 | 1:53 pm
Sources told CNBCTV18 that Deccan Chronicle is in talks to place 5% equity of Sieger Solutions to International Herald Tribune. The deal is likely at an Enterprise Value, or EV, of USD 750 million. Deccan\'s current market capital is around Rs 3,000 crore. Source: Moneycontrol Top Headlines | 12 Jun 2008 | 1:35 pm
MUMBAI (Reuters) - Reliance Industries plans to expand it polyester business with the help of acquisitions, and the refinery of a subsidiary will open before the end of the year, chairman Mukesh Ambani said on Thursday.
NEW DELHI (Reuters) - Indian shares rebounded from an early slide to close 0.4 percent higher on Thursday as some investors viewed concerns over a quarter-point hike in a key rate as overdone, but analysts doubted the strength of the rally.
MUMBAI (Reuters) - India's annual inflation rate is expected to have held at 3-3/4 year highs above 8 percent at the end of May, a Reuters poll showed on Thursday, ahead of an expected jump above 9 percent in early June due to a fuel price rise.
Despite a fresh appeal from Prime Minister Manmohan Singh to take forward the India-US civil nuclear deal, the Communist Party of India-Marxist (CPI-M) Thursday asserted that there would not be any change in its opposition to the contentious agreement. Source: IndiaeNews.com: Business News | 12 Jun 2008 | 11:30 am
Mukesh Ambani said the exports have grown at 49% compounded over last 5 years. He said, \" The new Refinery at Jamnagar will add 9 lakh tonnes per annum to polypropylene capacity.\" He also informed that Reliance will sell gas this year at USD 25 per barrel equivalent. That is at onefifth the cost of the global price of oil. Source: Moneycontrol Top Headlines | 12 Jun 2008 | 11:28 am
NEW DELHI (Reuters) - Oil production from the Panna-Mukta fields, halted by an explosion on a platform, is likely to resume next week, while gas output may take longer, industry sources said on Thursday.
MUMBAI (Reuters) - Indian monetary policy is still very accommodative and interest rates need to rise more to prevent global supply-side shocks from seeping into the broader economy, a former IMF chief economist said on Thursday.
The Tripura assembly Thursday urged the central government to give subsidy on cooking gas for the eight northeastern states. Source: IndiaeNews.com: Business News | 12 Jun 2008 | 11:03 am
With India's industrial production growth slowing once again to seven percent for April against 11.3 percent for the like month last year, the corporate sector has expressed worry, especially as the news came against the backdrop of a further tightening of monetary policy. Source: IndiaeNews.com: Business News | 12 Jun 2008 | 11:01 am
India's equity market closed in the green Thursday with a benchmark index gaining marginally. Source: IndiaeNews.com: Business News | 12 Jun 2008 | 11:00 am
The race for Ranbaxy began four months ago. CNBCTV18 learns apart from Daiichi there were two other bidders in the fray GSK Pharma and Sanofi as well. GSK Pharma offered Rs 770 per share, but could not close the deal. Sanofi on the other hand dropped out. Daiichi Sankyo terms and early closure helped Ranbaxy close the deal. Source: Moneycontrol Top Headlines | 12 Jun 2008 | 11:00 am
NEW DELHI (Reuters) - India's truck fleet will begin an indefinite strike early next month over rising fuel costs and taxes, a union leader said, taking 4 million vehicles off the roads, curbing diesel demand and possibly hitting goods supplies.
LONDON (Reuters) - Gold slipped on Thursday, shedding more than 1.5 percent at its session low, as the dollar rebounded against the euro after Wednesday's losses, and oil prices eased.
Terming organised retail as the major growth platform for Reliance Industries, Mukesh Ambani said its retail business will generate more than half a million jobs. Source: Daily News & Analysis: Money News | 12 Jun 2008 | 10:36 am
The sale of promoter's stake by the Singh family in Ranbaxy has taken the industry by "surprise". Source: Daily News & Analysis: Money News | 12 Jun 2008 | 10:17 am
After a hike in Interest rates, SBI Chairman, OP Bhatt said a call will be taken on revising rates on Friday. He feels that the consumer demand may be impacted due to rising rates. On the other hand, KV Kamath, ICICI Bank sees no slowdown in investments. Source: Moneycontrol Top Headlines | 12 Jun 2008 | 10:00 am
Indian billionaire Anil Ambani hopes to remain a major shareholder in his flagship firm Reliance Communications and South Africa-based MTN after the two companies merge. Source: Daily News & Analysis: Money News | 12 Jun 2008 | 10:00 am
TOKYO (Reuters) - Ranbaxy Laboratories Ltd said on Thursday it sees huge opportunities for growth in Japan's generics drug market and mergers and acquisitions are a likely option for it to expand.
The Indian government Thursday approved of a Rs.34 billion scheme to develop a water resources information system over the next three years. Source: IndiaeNews.com: Business News | 12 Jun 2008 | 9:30 am
The bidding war for Esmark is hotting up. Essar Steel Holdings has raised its offer for Esmark. Essar has raised its bid to USD 19 per share. Bid is valued at USD 1.24 billion. Source: Moneycontrol Top Headlines | 12 Jun 2008 | 9:11 am
The government Thursday fixed an interim purchase price of Rs.850 per quintal of rice pending a final decision on the rate to be paid to farmers for the upcoming winter crop. Source: IndiaeNews.com: Business News | 12 Jun 2008 | 9:02 am
Global rating agency Moody's Investors Service Thursday placed Japanese pharmaceuticals major Daiichi Sankyo Company Ltd (Daiichi Sankyo) on review for possible downgrade. Source: IndiaeNews.com: Business News | 12 Jun 2008 | 9:00 am
Disappointing news for India Inc continued Thursday, as the latest data on industrial production showed a slower growth of seven percent for April, against 11.3 percent in the same month of last fiscal, due to sluggish expansion in the manufacturing sector. Source: IndiaeNews.com: Business News | 12 Jun 2008 | 8:31 am
Reliance Industries Limited (RIL) chairman Mukesh Ambani said Thursday that the company's new refinery at Jamnagar, expected to be commissioned ahead of schedule this year, would become the refining hub of the world. Source: IndiaeNews.com: Business News | 12 Jun 2008 | 8:30 am
A day after the RBI hiked its short-term lending rate, a global rating agency on Thursday said the central bank may increase rates further, while also predicting an economic slowdown. Source: Daily News & Analysis: Money News | 12 Jun 2008 | 8:30 am
NEW DELHI (Reuters) - India's industrial output rose 7.0 percent in April from a year earlier, rebounding from the previous month with a resilience which economists said gave the central bank room to tighten policy further.
The Indian equities markets, which started the day with a sharp cut, recovered from their lows Thursday after industrial production data, released today, showed 7 percent growth. Source: IndiaeNews.com: Business News | 12 Jun 2008 | 8:01 am
Mindlogicx Infotech Ltd, and R and D based technology company , announced the launch of its 'Online Finishing School'. Source: Daily News & Analysis: Money News | 12 Jun 2008 | 7:56 am
Citigroup Inc is closing a hedge fund co-founded by Chief Executive Vikram Pandit, 11 months after the bank bought the fund management company for more than $ 800 million. Source: Daily News & Analysis: Money News | 12 Jun 2008 | 7:36 am
The stock market nosedived by 436 points in early trade on a major sell-off by funds in heavy-weight stocks led by banking and realty sectors after the Reserve Bank hiked the repo rate. Source: Daily News & Analysis: Money News | 12 Jun 2008 | 5:47 am
Thiruvananthapuram, June 11 The southwest monsoon cantered into Nashik and Nagpur on Wednesday signalling its entry into central India on a day that saw spearhead weather systems to the west and the east let off some steam. The ... Source: Business Line - Home Page | 12 Jun 2008 | 12:00 am
Hit by record crude prices and higher manpower costs, state-run Shipping Corporation of India (SCI) reported a drop of about 11% in its yearly profits. Source: Daily News & Analysis: Money News | 11 Jun 2008 | 10:28 pm
Prime Minister Manmohan Singh cleared the setting up of an inter-ministerial committee headed by the cabinet secretary. Source: Daily News & Analysis: Money News | 11 Jun 2008 | 10:27 pm
Genpact and NIIT Ltd, the country's major computer education firm, said their new joint venture, NIIT Institute of Process Excellence will provide training programmes to skilled workers. Source: Daily News & Analysis: Money News | 11 Jun 2008 | 10:27 pm
Prime Minister Manmohan Singh tried to strike an optimistic note on the Indo-US nuclear deal, even as he admitted that "domestic politics has prevented us from going ahead". Source: Business Standard | Front Page Headlines | 11 Jun 2008 | 6:53 pm
Repo rate hiked 25 basis points to 8 per cent. ??Banks may soon raise lending as well as deposit rates with the Reserve Bank of India increasing repo rate, or the rate at which it lends to banks, by 25 basis points to 8 per cent. Source: Business Standard | Front Page Headlines | 11 Jun 2008 | 6:52 pm
The Indian promoters of Ranbaxy, the Singh family, have agreed to sell their stake to Daiichi Sankyo Company Ltd of Japan in one of the largest deals in the Indian pharmaceutical space. Source: Business Standard | Front Page Headlines | 11 Jun 2008 | 6:51 pm
The presumptive Democratic presidential nominee Barack Obama says he would make the US economy strong and competitive again by expanding opportunity outward rather than clamping down on outsourcing to countries like India and China. Source: Zee News : Business | 11 Jun 2008 | 12:09 pm
Global credit turmoil, an economic slowdown in industrial countries and accelerating inflation are set to curb the rapid pace of growth in developing economies this year, the World Bank said on late Tuesday in its annual review of global financial conditions in the developing world. Source: Zee News : Business | 11 Jun 2008 | 12:09 pm
Oil prices rose again in Asia on Wednesday as the world`s biggest oil producers and consumers prepared to meet to discuss record crude prices which have sparked fears for the global economy. Source: Zee News : Business | 11 Jun 2008 | 12:09 pm
Snapping three-session losing streak, the Bombay Stock Exchange benchmark Sensex on Wednesday recovered by over 226 points to regain 15,000 level in early trade on buying by funds along with short-covering by speculators in heavy-weight stocks. Source: Zee News : Business | 11 Jun 2008 | 12:09 pm
Leaders of different agricultural forums will meet here on Wednesday to discuss the fresh WTO proposals on agriculture. Source: Zee News : Business | 11 Jun 2008 | 12:09 pm
Bhutan is likely to join the World Trade Organisation by 2009, but the country will not immediately open up its financial and services sectors completely, trade officials have said. Source: Zee News : Business | 11 Jun 2008 | 12:09 pm
The chief executive of brewer Foster`s Group resigned on late Tuesday as the company cut its profit forecasts and began a review of its wine business whose expansion he had overseen. Source: Zee News : Business | 11 Jun 2008 | 12:09 pm
Civil Aviation Minister Praful Patel will meet Prime Minister Dr Manmohan Singh here on Wednesday to find ways to give relief to airlines that are seeing losses growing due to high jet fuel prices. Source: Zee News : Business | 11 Jun 2008 | 12:09 pm
The Indian aviation industry is
likely to suffer losses to the tune of more than USD 2 billion
in 2008-09, a top aviation industry consultant said. Source: Zee News : Business | 11 Jun 2008 | 12:09 pm
