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FinMin may consider CTT reductionThe Prime Minister\'s Economic Advisory Council said the commodities transaction tax (CTT) is too steep and will adversely affect commodity transactions in exchanges. The Finance Ministry said they may consider reduction in CTT and change in CTT rates will be via amendment to the Finance Bill in Parliament.Source: Moneycontrol Top Headlines | 29 Jul 2008 | 6:02 pm Markets hit by RBI's monetary policyStock market on Tuesday reacted sharply to the Reserve Bank's hawkish monetary steps to contain inflation with the benchmark Sensex plunging by 558 pointsSource: Daily News & Analysis: Money News | 29 Jul 2008 | 2:16 pm India investment to be hurt by RBI action - industryNEW DELHI (Reuters) - Investment plans of Indian companies will be hit by the interest rate increases by the Reserve Bank of India (RBI) and economic growth could further slow as a result, industry bodies said on Tuesday.Source: Reuters: Money News | 29 Jul 2008 | 1:19 pm RBI ups lending rate, cash ratio aggressivelyMUMBAI (Reuters) - The Reserve Bank of India raised its key lending rate by half a percentage point on Tuesday to its highest in seven years and combined it with a reserve hike in an unexpectedly aggressive bid to quash double-digit inflation.Source: Reuters: Money News | 29 Jul 2008 | 1:16 pm Private fund managers for $60 bn provident fundThe Employees Provident Fund Organisation (EPFO) Tuesday selected three private fund managers, along with India's largest commercial bank, to manage its corpus of Rs.240,000 crore (Rs.2,400 billion or $60 billion).Source: IndiaeNews.com: Business News | 29 Jul 2008 | 1:08 pm ICICI Prudential Life joins hands with IIM-CalcuttaICICI Prudential Life Insurance Tuesday announced it has signed a memorandum of understanding (MoU) with the Indian Institute of Management-Calcutta (IIM-C) to start a new course focussing on the insurance sector.Source: IndiaeNews.com: Business News | 29 Jul 2008 | 1:06 pm HIGHLIGHTS - RBI governor speaks after rate riseReuters - The Reserve Bank of India (RBI) raised its benchmark lending rate by 50 basis points on Tuesday its highest in seven years and hiked the cash reserve ratio, delivering a bigger-than-expected tightening to quell double-digit inflation.Source: Reuters: Money News | 29 Jul 2008 | 12:59 pm Markets plummet as RBI hikes interest rates!Indian stock markets plunged on Tuesday, within minutes of the announcement of interest rates hike by the Reserve Bank of India in its Credit Policy.Source: Zee News : Business | 29 Jul 2008 | 12:52 pm Monetary policy: RBI hikes Repo Rate by 0.5%, CRR by 0.25%!With inflation still in the double digits the Reserve Bank of India on Tuesday announced a further increase in the Repo Rate by 0.5% to 9% and also a 0.25% increase in the Cash Reserve Ratio also to 9%. The central bank has also exuded confidence that the inflation will be reined in soon with the `realistic` target being to bring it down to 7% by March 2009.Source: Zee News : Business | 29 Jul 2008 | 12:52 pm As US battles China, India, WTO talks risk collapse!The world`s largest commercial powers came into crucial talks on a new global trade pact pledging to assume the shared responsibility needed for solving planetary problems from climate change to food and energy prices.Source: Zee News : Business | 29 Jul 2008 | 12:52 pm Is today's credit policy Reddy's swan song?The monetary measures announced by Reserve Bank Governor Y V reddy, just little over a month before his term ends, may well be his swan song in his quest to contain inflation.Source: Daily News & Analysis: Money News | 29 Jul 2008 | 12:41 pm Jet Airways posts Q1 net profit, beats f'castMUMBAI (Reuters) - Jet Airways Ltd, India's top private carrier, on Tuesday posted an unexpected net profit after two quarters of losses, helped by its growing international operations and cost cutting measures.Source: Reuters: Money News | 29 Jul 2008 | 12:34 pm Cadila Health April-June net up 21 pct, shrs upMUMBAI (Reuters) - Drug maker Cadila Healthcare Ltd on Tuesday said net profit for the quarter to June rose by a fifth from a year earlier, beating street expectations, helped by vigorous growth in formulations exports.Source: Reuters: Money News | 29 Jul 2008 | 12:30 pm Ranbaxy expects US drug office to drop charge next month - Sify
Source: Google News India - Business | 29 Jul 2008 | 12:29 pm HCC bags Rs 640 cr barrage project - Economic Times
Source: Google News India - Business | 29 Jul 2008 | 12:10 pm Crude oil firms up - Hindu Business Line
Source: Google News India - Business | 29 Jul 2008 | 12:05 pm Bankers see PLR hikes; India Inc reaction mixed - Moneycontrol.com
Source: Google News India - Business | 29 Jul 2008 | 12:04 pm India shares end down 3.9 pct after RBI tightensMUMBAI (Reuters) - Indian shares fell 3.89 percent on Tuesday to their lowest close in more than a week on concerns an unexpectedly aggressive policy tightening by the Reserve Bank of India (RBI) to quash double-digit inflation would also slow economic growth.Source: Reuters: Money News | 29 Jul 2008 | 12:02 pm Govt appoints private cos to manage pension schemeNEW DELHI (Reuters) - The government on Tuesday appointed State Bank of India and asset management subsidiaries of HSBC, ICICI Bank and Reliance Capital to manage its largest pension fund from September, an official said.Source: Reuters: Money News | 29 Jul 2008 | 11:53 am RBI says web manager sent rate emails earlyMUMBAI (Reuters) - E-mails containing the Reserve Bank of India's interest rate decision which were sent before an embargo on the decision was lifted on Tuesday were issued by the monetary authority's web manager, the RBI said.Source: Reuters: Money News | 29 Jul 2008 | 11:51 am Rolta acquires Chicago based WhittmanHart Consulting - domain-B
Source: Google News India - Business | 29 Jul 2008 | 11:46 am Ranbaxy Q2 plunges on forex; sees strong growthNEW DELHI (Reuters) - Ranbaxy Laboratories, which is being taken over by Japan's Daiichi Sankyo for up to $4.6 billion, reported a sharp drop in quarterly net profit on foreign exchange losses.Source: Reuters: Money News | 29 Jul 2008 | 11:31 am Ranbaxy posts Rs.1.6 bn profit in last quarterIndia's largest drug manufacture Ranbaxy Laboratories announced Tuesday a net profit of Rs.1.6 billion ($39 million) on a consolidated basis in the second quarter of this year ending June 30, exactly the same gain made in the comparable period last year. The firm starts its accounting year Jan 1.Source: IndiaeNews.com: Business News | 29 Jul 2008 | 11:08 am Equity markets slump after central bank hikes repo rateIndian equity markets slumped Tuesday after the Reserve Bank of India raised the repo rate by 50 basis points at its monetary policy announced late in the morning. Capital goods, realty and banking stocks were under heavy selling pressure.Source: IndiaeNews.com: Business News | 29 Jul 2008 | 10:40 am UTV records 176 percent net profit growth in first quarterUTV Software Communications Ltd announced here Tuesday that it had recorded a 176 percent net profit growth in the first quarter of the current fiscal.Source: IndiaeNews.com: Business News | 29 Jul 2008 | 10:39 am WTO talks on verge of collapsing - IBNLive.com
Source: Google News India - Business | 29 Jul 2008 | 10:39 am India's growth forecast pruned, but pace remains fast: ReddyThe central bank may have lowered India's economic growth projection for this fiscal to 8 percent, but the pace remains fast by all global standards, Reserve Bank of India (RBI) Governor Y.V. Reddy said here Tuesday.Source: IndiaeNews.com: Business News | 29 Jul 2008 | 10:38 am Women defy falling CEO salaries; Nooyi on topCEOs heading America's 500 largest firms have taken a beating on their paychecks for the first time in five yearsSource: Daily News & Analysis: Money News | 29 Jul 2008 | 10:38 am Television Eighteen Q1 net up 17% at Rs 3 crMedia and entertainment company Television Eighteen on Tuesday announced a net profit of Rs 3.44 crore for the first quarter ended June 30Source: Daily News & Analysis: Money News | 29 Jul 2008 | 10:36 am RBI tightens monetary policyCommercial, home, personal and car loans are sure to cost more with the Reserve Bank, under pressure to fight high inflationSource: Daily News & Analysis: Money News | 29 Jul 2008 | 10:34 am India Infoline turns black in Q1 - Economic Times
Source: Google News India - Business | 29 Jul 2008 | 10:31 am ABB bags Rs.4.5-bn smelter order from VedantaPower and automation technology company ABB India has bagged a Rs.4.55-billion smelter order to supply automation and power products, systems and solution to Vedanta Aluminium for expansion of its aluminium smelter plant at Jharsuguda in Orissa.Source: IndiaeNews.com: Business News | 29 Jul 2008 | 10:03 am Reliance Infrastructure signs pact with Chinese firmReliance Infrastructure Ltd, a part of the Anil Dhirubhai Ambani Group (ADAG), has signed an agreement with Shanghai Electric Corp of China to tap business opportunities in the Indian power sector, the company announced Tuesday.Source: IndiaeNews.com: Business News | 29 Jul 2008 | 10:02 am Bankers hint at hike in interest ratesBankers Tuesday hinted at further hikes in interest rates after the Reserve Bank of India (RBI) revised the Cash Reserve Ratio (CRR) by 25 basis points and the repo rate by 50 basis points to restrain current inflationary trends and to tighten credit growth.Source: IndiaeNews.com: Business News | 29 Jul 2008 | 10:00 am Govt may stop steel cos from price hike in Aug: SrcsThe steel ministry may be forced to take steps to stop companies from hiking steel prices in August. The ministry may bring back duty on some steel products if steel companies increase prices in August. It said that keeping inflation at lower levels is their top priority.Source: Moneycontrol Top Headlines | 29 Jul 2008 | 9:51 am Fiscal measures will check inflation, says finance ministryThe finance ministry said the upward revision of the cash reserve ratio (CRR) and repo rate by the central Reserve Bank of India (RBI) Tuesday would help in 'moderating and containing inflation".Source: IndiaeNews.com: Business News | 29 Jul 2008 | 9:49 am ABB India wins Rs455-crore smelter order from Vedanta Aluminum Ltd - domain-B
Source: Google News India - Business | 29 Jul 2008 | 9:34 am Fingerpointing, blame game resumes at WTO meetThe finger pointing and the blame game has resumed at the WTO (World Trade Organization) meeting in Geneva. Trade ministers have briefly broken up their meeting, to meet once again. Without naming them the US has accused India and China of unraveling the talks. India says it is the us that is digging in its heels.Source: Moneycontrol Top Headlines | 29 Jul 2008 | 9:32 am Rupee up after rate hike, stocks reverse gainsMUMBAI (Reuters) - The Indian rupee rose from one-week lows on Tuesday after the Reserve Bank of India (RBI) aggressively tightened policy to rein in double-digit inflation, but heavy losses in local shares and strong dollar demand reversed gains.Source: Reuters: Money News | 29 Jul 2008 | 8:42 am Jet Airways in pact with Globus Family of BrandsJet Airways JetPrivilege, the Indian private carriers frequent flyer programme, has entered into a partnership with the Globus Family of Brands effective August 01, 2008, said a statement.Source: Moneycontrol Top Headlines | 29 Jul 2008 | 8:41 am IOB plans bank in Malaysia with 2 PSBsIndian Overseas Bank plans to float an overseas bank in Malaysia jointly with Andhra Bank and Bank of Baroda, according to Mr. S.A. Bhat, Chairman and Managing Director, IOB.Source: Moneycontrol Top Headlines | 29 Jul 2008 | 8:39 am DoT plans separate 3G policy for CDMA playersThe Department of Telecom is planning to formulate a separate policy for third generation services by CDMA operators.Source: Moneycontrol Top Headlines | 29 Jul 2008 | 8:36 am HDFC Bank's profit soars 45% on high loan growth - Economic Times
Source: Google News India - Business | 29 Jul 2008 | 8:26 am TVS Motor mulls plans to set up a greenfield plant in China - Business Standard
Source: Google News India - Business | 29 Jul 2008 | 8:01 am Praj Industries (Rs 201.65): BuyWe recommend a buy in Praj Industries from a short-term perspective. It is apparent from the charts that the stock has been on a medium-term uptrend from its March 2008 low of Rs 100, which is a significant support level. However, the stock ...Source: Business Line - Home Page | 29 Jul 2008 | 12:00 am Bank of India net surges 78% on core operations, NPA managementMumbai, July 28 While several public sector banks reported flat growth in profit and some even losses, Mumbai-based Bank of India’s net profit surged by 78 per cent to Rs 562 crore in the quarter ended June 30, 2008, against Rs 315 crore ...Source: Business Line - Home Page | 29 Jul 2008 | 12:00 am Most ULIPs under-perform NiftyChennai, July 28 Equity mutual funds have not managed to contain the declines in their NAV well during the recent market fall, with majority of them trailing the broad market. But did equity-oriented unit-linked insurance plans (ULIPs) from ...Source: Business Line - Home Page | 29 Jul 2008 | 12:00 am ONGC net rises 44% in Q1 as crude offsets subsidy burdenNew Delhi, July 28 A substantial increase in subsidy burden notwithstanding, ONGC has managed to register a 44 per cent increase in net profit at Rs 6,636 crore during the first quarter of financial year 2009 (Rs 4,611 crore). ...Source: Business Line - Home Page | 29 Jul 2008 | 12:00 am Market stabilisation scheme not needed now?Bankers see case for discontinuing it as FII flows slow. Bangalore, July 28 Faced with a tight liquidity situation banks, both public and private, have begun pushing for discontinuing the market stabilisation scheme ...Source: Business Line - Home Page | 29 Jul 2008 | 12:00 am Engineering and construction margins boost L&T net 33%Mumbai, July 28 Larsen & Toubro has posted a 33 per cent rise in net profit for the first quarter of the fiscal as revenues rose and margins from its key engineering and construction (E&C) business looked ...Source: Business Line - Home Page | 29 Jul 2008 | 12:00 am Balance of payments: Do we need to worry?It has been some time now since the Government has stopped bothering too much about the balance of payments. Indeed, the continuous and even excessive build-up of foreign exchange reserves (which now stand at more than $310 billion, making ...Source: Business Line - Home Page | 29 Jul 2008 | 12:00 am Day Trading GuideThe near-term outlook for the stock is bearish. We recommend a sell in this counter. ...Source: Business Line - Home Page | 29 Jul 2008 | 12:00 am I-T mop-up of Delhi region surges 83% in April-JulyNew Delhi, July 28 Higher tax deduction at source (TDS) collections coupled with the absence of abnormally high refunds has helped Delhi region record a healthy 83.27 per cent increase in net direct tax collections during April 1-July 24 this ...Source: Business Line - Home Page | 29 Jul 2008 | 12:00 am DoT plans separate 3G policy for CDMA playersAt least 5 GSM players in each circle proposed. New Delhi, July 28 The Department of Telecom is planning to formulate a separate policy for third generation services by CDMA operators. ...Source: Business Line - Home Page | 29 Jul 2008 | 12:00 am 'Next 3-6 mths key to slowdown call'K V Kamath, ICICI Bank's managing director and chief executive officer, has witnessed first-hand the unleashing of India's economic potential.Source: Daily News & Analysis: Money News | 28 Jul 2008 | 11:23 pm Chinese move queers pharma pitchIndia Inc has for long been at the receiving end from China, due largely to the low-cost products the nation is able to push across the borderSource: Daily News & Analysis: Money News | 28 Jul 2008 | 11:22 pm CDMA volleys in spectrum spatAuspi has reminded the PM about his statement that adequate return should accrue to the government for allocation of spectrum.Source: Daily News & Analysis: Money News | 28 Jul 2008 | 10:45 pm L&T keeps revenue, order guidanceEngineering, procurement and construction giant Larsen & Toubro on Monday maintained its guidance on 30% growth in revenue and order inflowsSource: Daily News & Analysis: Money News | 28 Jul 2008 | 10:30 pm Pvt parties may make non-metro terminalsWith Leftists out of government's hair, private parties may finally get to develop the terminal building at non-metro airports.Source: Daily News & Analysis: Money News | 28 Jul 2008 | 10:29 pm Govt to issue Rs 24,400cr oil bonds to 3 cos: IOC SrcsSources at Indian Oil Corporation, or IOC, said the government plans to issue oil bonds worth Rs 24,400 crore to three companies, reports CNBCTV18, quoting Newswire18. The companies will get oil bonds worth Rs 13,530 crore for Q1.Source: Moneycontrol Top Headlines | 28 Jul 2008 | 8:47 pm Sterlite in talks to buy govt\'s 49% stake in BalcoSterlite Industries said it hopes to buy the government\'s 49% stake in Balco by FY09end, reports CNBCTV18. It is in talks with the government for buying the residual stake in Balco.Source: Moneycontrol Top Headlines | 28 Jul 2008 | 8:44 pm MM eyes strategic stake in Kinetic Motors: SrcsAuto major, Mahindra Mahindra is in final stages of talks with Kinetic Motors to acquire a majority stake in the latter, sources said. The deal size is in the range of Rs 120160 crore.Source: Moneycontrol Top Headlines | 28 Jul 2008 | 8:10 pm Halim in 14-day police custodySIMI activist Abdul Halim, who was arrested on Sunday in connection with the Ahmedabad bomb blasts, was today remanded to 14 days police custody by a local court.??The crime branch has said that heSource: Business Standard | Front Page Headlines | 28 Jul 2008 | 6:57 pm US blames India, China for blocking Doha talksThe United States yesterday applied strong pressure tactics at the mini-ministerial meeting of the World Trade Organisation (WTO) by blaming India and China the two biggest emerging economiesSource: Business Standard | Front Page Headlines | 28 Jul 2008 | 6:56 pm Mahindras cash in on early SEZ appealWorkers are putting the finishing touches to a five-storey building that will house a 3,200-seater BPO unit of Infosys Technologies in the 2,500-acre multi-product special economic zone (SEZ), 21 kmSource: Business Standard | Front Page Headlines | 28 Jul 2008 | 6:55 pm RBI sees dark clouds over Indian economyThe Reserve Bank of India today painted a gloomy picture for the economy. A survey conducted by the central bank said Indias gross domestic product (GDP) would grow 7.9 per cent this yearSource: Business Standard | Front Page Headlines | 28 Jul 2008 | 6:54 pm Bombay Dyeing to slowdown its retail plansNess Wadia, Deputy Managing Director, Bombay Dyeing said that the company will now go slow on retail. He said that the large format was not viable for the company,which is currently into teh development of space. The numbers in retailing are not attractive, Wadia said.Source: Moneycontrol Top Headlines | 28 Jul 2008 | 6:01 pm
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