Friday, May 25, 2012

ITC Q4 net rises 26% to Rs 1,614 crore

ITC Q4 net rises 26% to Rs 1,614 crore

ITC Q4 net rises 26% to Rs 1,614 crore

Posted: 25 May 2012 05:03 PM PDT

Hospitality-to-tobacco major ITC's net profit rose 26% to Rs 1,614 crore in the fourth quarter (January-March) of 2011-12 against Rs 1,281 crore in the year-ago period. Better performance in tobacco, paperboard and agri businesses of the company are largely responsible for the rise in profit.

NMDC, Severstal in control tussle

Posted: 25 May 2012 04:52 PM PDT

A battle over control is understood to have hit the ambitious Rs 20,000 crore steel plant project of state-owned NMDC with Russia's second-biggest steel maker OAO Severstal.

Most currencies have fallen against dollar

Posted: 25 May 2012 04:50 PM PDT

The rupee has been the worst performing currency in Asia during the last 12 months, having fallen most against the US greenback.

Panel may back Trai’s 2G auction price

Posted: 25 May 2012 04:48 PM PDT

The telecom department has dismissed suggestions from commerce and industry minister Anand Sharma that the reserve price for auctioning 2G spectrum suggested by the telecom regulator was too high.

Insider trading cases out of consent settlement

Posted: 25 May 2012 04:47 PM PDT

Market regulator Sebi on Friday made a number of amendments to the framework that governs consent orders, barring companies which have serious charges of breaking market rules, including insider trading, from settling such cases by paying a fine to the regulator.

US declines to cite China as currency manipulator

Posted: 25 May 2012 08:55 AM PDT

The US government said Friday that China has made progress in allowing its currency to rise against the dollar and declined to accuse the nation of manipulating its currency to gain a trade advantage.

SAIL to invest Rs 21,000 crore in West Bengal

Posted: 25 May 2012 08:41 AM PDT

The West Bengal government has entered into an MoU with the Steel Authority of India Limited (SAIL) and the Burn Standard Company Ltd (BSCL) to set up a railway wagon and component factory in East Midnapore's Jellingham, Chief Minister Mamata Banerjee said Friday.

ITC Q4 net up 26% at Rs 1,614.36 crore

Posted: 25 May 2012 06:54 AM PDT

Diversified conglomerate ITC on Friday reported 25.98 per cent increase in its standalone net profit for the quarter ended March 31, 2012 at Rs 1,614.36 crore on the back of good performances by all segments.

Hacking attempt on RBI website

Posted: 25 May 2012 06:46 AM PDT

The Reserve Bank today said there was an attempt to hack its website on Thursday, rendering it inaccessible for almost the entire day.

Rupee posts eighth weekly drop

Posted: 25 May 2012 06:07 AM PDT

The rupee strengthened for a second session on Friday, continuing its recovery from record lows hit this week, after the Reserve Bank of India (RBI) stepped in to defend the currency and exporters and custodian banks were heavy sellers of dollars.

Sensex closes flat in choppy trade

Posted: 25 May 2012 03:58 AM PDT

Sensex on Friday closed almost flat at 16,217.82 due to profit-booking in FMCG, oil and banking stocks after recent gains even as rupee continued its recovery.

Lehman to buy 26.5% stake in Archstone for $1.58bn

Posted: 25 May 2012 03:10 AM PDT

Financial services firm Lehman Brothers Holdings, one of the promoters of Archstone, is buying 26.5% stake in the property company for $1.58 billion from Bank of America (BofA) and Barclays, a media report said.

Rupee slide: RBI governor meets PM

Posted: 25 May 2012 02:01 AM PDT

A day after hinting that the central bank would take necessary steps to arrest the rupee's slide, RBI Governor D Subbarao today met Prime Minister Manmohan Singh and is believed to have discussed the issue with him.

Sensex down on weak global cues

Posted: 25 May 2012 12:30 AM PDT

The BSE benchmark Sensex was down 75 points in the late morning trade on Friday due to fresh selling amid persistent foreign capital outflow and weak Asian cues.

Gold futures weaken on global cues

Posted: 24 May 2012 11:06 PM PDT

Amid a weakening trend overseas on firming dollar, gold prices fell by Rs 36 to Rs 28,844 per 10 grams in futures trade today.

Rupee down 12 paise at 55.77 vs dollar

Posted: 24 May 2012 10:47 PM PDT

The domestic currency dropped 12 paise to 55.77 against the American currency in late morning trade today on fresh dollar demand from banks and corporates.

Sensex falls by 70 points

Posted: 24 May 2012 10:01 PM PDT

The BSE benchmark index Sensex on Friday declined by nearly 70 points in early trade as funds and retail investors booked profits after yesterday's gains.

Rupee down 27 paise against dollar

Posted: 24 May 2012 10:00 PM PDT

The rupee depreciated by 27 paise to Rs 55.92 against the American currency in early trade today on stronger dollar against euro and Asian currencies.
Posted by Harshad at 9:36 PM

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