Tuesday, October 30, 2012

India gets China jitters at Asean

India gets China jitters at Asean

India gets China jitters at Asean

Posted: 30 Oct 2012 04:07 PM PDT

India is caught in a bind over a new trade grouping — Regional Comprehensive Economic Partnership (RCEP) — that Asean is trying to create with countries that have bilateral agreements with the trading bloc.

Hyundai workers on strike

Posted: 30 Oct 2012 12:38 PM PDT

Employees affiliated to the CITU-backed trade union at Hyundai Motor India Ltd (HMIL) went on strike from the second shift on Tuesday at the company's plant in Sriperumbudur near Chennai. The company said production loss due to the strike was 59 cars.

Equity MFs sell close to $1bn since Sept 14

Posted: 30 Oct 2012 11:54 AM PDT

Equity MFs have net sold stocks worth about Rs 5,423 crore since September, data with market regulator Sebi showed.

UBS global axe to affect India bond operations

Posted: 30 Oct 2012 11:53 AM PDT

In India, the fixed income team in UBS had about 25 people and the impact of the global decision to wind down this part of the business will impact these people too, market sources said.

Interest rates set to fall as RBI cuts CRR

Posted: 30 Oct 2012 11:43 AM PDT

The RBI's move to reduce CRR-the portion of deposits banks are expected to maintain with RBI-will release Rs 17,500 crore with effect from November 3.

CRR is a waste for economy: SBI chief

Posted: 30 Oct 2012 07:26 AM PDT

SBI chairman Pratip Chaudhuri today once again expressed his open disagreement with the RBI on CRR saying it is a "waste" for the economy and successive interest rate cuts by central bank have failed to contain inflation.

Re gains 10 paise at 53.98 on $ sales

Posted: 30 Oct 2012 06:03 AM PDT

Overcoming the disappointment on RBI policy decisions and stock movements, the rupee today bounced back from fresh 5-week lows and ended 10 paise higher at 53.98 on heavy US dollar sales.

Mahindra Satyam profit rises 17%, meets estimates

Posted: 30 Oct 2012 04:52 AM PDT

Satyam Computer Services Ltd, in the process of a merger with parent Tech Mahindra Ltd, met expectations with a 17 per cent rise in second-quarter profit, as customers, aiming to cut IT costs, gave it more orders.

Sensex falls 205 points to 5-week low

Posted: 30 Oct 2012 04:20 AM PDT

After a better start, the sensex rose by over 80 points in early trade on the back of hopes of a rate cut after the government yesterday announced a fiscal consolidation plan.

FII holding in Indian companies near record high

Posted: 30 Oct 2012 04:10 AM PDT

FII shareholding in Indian firms is fast approaching all-time high of 22 per cent, as overseas institutional investors stepped up purchases during the quarter ended September 30.

Rupee falls to 5-week low

Posted: 30 Oct 2012 02:30 AM PDT

The Indian rupee fell to a new five-week low on Tuesday after the RBI kept interest rates unchanged, shifting the pressure on the government to take additional steps to revive growth and contain the fiscal deficit.

RBI cuts GDP forecast to 5.8% for FY'13

Posted: 30 Oct 2012 01:23 AM PDT

The Reserve Bank on Tuesday sharply lowered this fiscal's economic growth projection to 5.8 per cent, from 6.5 per cent earlier, in view of global and domestic factors like poor investments and subdued demand.

Hiring trends in India relatively strong: Survey

Posted: 30 Oct 2012 12:31 AM PDT

Hiring trends in India is relatively strong than other markets around the world as nearly half of employers believe the recruitment volume this year is up from 2011, a survey says.

Sensex down 195 pts on RBI policy

Posted: 29 Oct 2012 11:37 PM PDT

The Sensex erased initial gains and fell 195 points on Tuesday after RBI kept key interest rate unchanged and lowered economic growth estimate to 5.8 per cent for 2012-13, from 6.5 per cent projected earlier.

Gold futures decline on weak global cues

Posted: 29 Oct 2012 10:54 PM PDT

Gold futures prices on Tuesday fell by 0.29 per cent to Rs 31,004 per 10 grams as speculators reduced exposure amid a weak trend overseas.

Credit Suisse downgrades ONGC on earnings outlook

Posted: 29 Oct 2012 10:46 PM PDT

Credit Suisse downgraded Oil and Natural Gas Corp to 'underperform' from 'neutral', citing rising risks to earnings in fiscal 201/13, despite noting the stock continues to trade as a discount to global peers.

RBI lowers CRR to inject Rs 17,500 cr

Posted: 29 Oct 2012 10:33 PM PDT

The Reserve Bank of India left interest rates unchanged on Tuesday but cut the cash reserve ratio for banks and indicated it may ease monetary policy further.

Rupee gains 13 paise against dollar in early trade

Posted: 29 Oct 2012 09:48 PM PDT

The rupee rose by 13 paise to 53.95 against the US dollar in early trade on Tuesday at the Interbank Foreign Exchange on dollar selling by exporters and banks.

Sensex rises marginally ahead of RBI policy

Posted: 29 Oct 2012 09:35 PM PDT

Ahead of the RBI's monetary policy review, the BSE benchmark Sensex edged up by nearly 14 points in early trade on Tuesday on selective buying by participants amid hopes of a rate cut.

Nissan dealers refuse to take vehicles

Posted: 29 Oct 2012 07:30 PM PDT

Nissan Motor India is locked in a faceoff with its dealers because of which Nissan dealerships are learnt to have stopped taking supplies of vehicles in the last one week. The dispute is over the issue of Nissan's master franchisee Hover Automotive India (HAI).
Posted by Harshad at 9:27 PM

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