Wednesday, April 18, 2012

IDBI cuts rates, HDFC Bank to follow suit

IDBI cuts rates, HDFC Bank to follow suit

IDBI cuts rates, HDFC Bank to follow suit

Posted: 18 Apr 2012 01:44 PM PDT

IDBI Bank has been the first off the block to bring down interest rates on loans and fixed deposits (FDs), following the reduction in policy rates by the Reserve Bank of India (RBI) on Tuesday.

HCL Tech Q3 net rises 29%

Posted: 18 Apr 2012 01:35 PM PDT

Customer-induced market turbulence is a cause of real concern for tech providers. Customers are cautious about budgets across domains and want higher returns on their investments in the shortest possible time frame.

No need to refund 2G licence fees: Trai

Posted: 18 Apr 2012 12:55 PM PDT

The telecom regulator has told the government that there is no need to refund the fees paid by 122 2G licence holders whose services will be terminated following the Supreme Court order.

Tata Communications pulls out of CWW bid

Posted: 18 Apr 2012 10:00 AM PDT

Hours before the bidding deadline for Cable & Wireless Worldwide Plc (CWW) expires, Tata Communications has withdrawn from the race for the UK fibre network operator because of mismatch in valuations.

Fixed deposits turn safe and good investment

Posted: 18 Apr 2012 09:03 AM PDT

For investors looking out for a safe haven this is the best time to invest in fixed deposits.

Loan growth lifts profit at HDFC Bank

Posted: 18 Apr 2012 07:38 AM PDT

HDFC Bank beat forecasts with a 30.3 per cent rise in quarterly net profit, helped by a surge in credit demand and lower provisions for loan losses amid an improvement in the sector outlook on hopes of cuts in lending rates.

IMF: Cuts in European bank lending to drag growth

Posted: 18 Apr 2012 06:41 AM PDT

The International Monetary Fund said Wednesday that European banks are under pressure to preserve capital and could cut back sharply on lending over the next two years, slowing the region's growth.

Rupee hits 3 month-lows

Posted: 18 Apr 2012 06:38 AM PDT

The rupee fell to their lowest in three months on Wednesday, erasing all intraday gains as traders bet on a much more cautious Reserve Bank of India (RBI) now that it has delivered a bigger-than-expected rate cut.

RIL moves SC seeking arbitration on KG basin

Posted: 18 Apr 2012 05:08 AM PDT

Reliance Industries Ltd approached Supreme Court seeking appointment of an arbitrator on behalf of government to decide its dispute with it over recovery of cost for developing the country's key natural gas field in the Krishna-Godavari (KG) basin.

Sensex closes 34 points up on profit booking

Posted: 18 Apr 2012 04:48 AM PDT

Erasing initial gains, the BSE benchmark sensex on Wednesday closed with a moderate gain of 34 points on profit-booking after the surge it had made following RBI's cut in the short-term lending rate.

Retail inflation spurts to 9.47% in March

Posted: 18 Apr 2012 12:22 AM PDT

Retail inflation spurted to 9.47% in March because of higher prices of milk, vegetables, protein-based items and edible oil products.

HCL Tech Q3 profit up 28%, shares rally

Posted: 17 Apr 2012 11:13 PM PDT

Consolidated net profit for the fiscal third quarter ended March 31 rose to 6 billion rupees ($116.4 million) from 4.68 billion rupees a year earlier, HCL said on Wednesday.

Sensex up 138 points

Posted: 17 Apr 2012 09:33 PM PDT

The BSE benchmark index Sensex extended gains for the third straight day by rising over 138 points in early trade on continued buying by funds and retail investors after RBI slashed short-term lending rate.

Banks will have to cut rates: Subbarao

Posted: 17 Apr 2012 11:30 AM PDT

RBI governor D Subbarao, who surprised markets with a higher-than-expected 50 basis point rate cut (the first after 13 hikes since 2009), has warned that future reductions cannot be taken for granted.
Posted by Harshad at 9:08 PM

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