Tuesday, November 22, 2011

Rupee gains 32 paise against US dollar

Rupee gains 32 paise against US dollar

Rupee gains 32 paise against US dollar

Posted: 22 Nov 2011 08:48 PM PST

The Indian rupee gained 32 paise to Rs 51.92 per US dollar in morning trade on the Interbank Foreign Exchange on Wednesday, tracking gains registered by other Asian peers against the American currency.

Sensex sheds 220 points on weak cues

Posted: 22 Nov 2011 08:48 PM PST

The BSE benchmark Sensex plummeted by over 220 points in opening trade on Wednesday, wiping out gains registered in Tuesday's brief comeback following an eight-session losing streak on profit-booking ahead of monthly expiry in the derivatives segment and negative US cues.

Gates defends co in antitrust trial

Posted: 22 Nov 2011 03:53 PM PST

Microsoft's Bill Gates returned to the witness stand Tuesday to defend his company against a $1 billion antitrust lawsuit that claims the software giant tricked a competitor into huge losses and soared onto the market with Windows 95.

Car prices set to go up on falling rupee

Posted: 22 Nov 2011 03:51 PM PST

"The rupee depreciation is adding to the cost and we will be going in for a revision from January next year," Toyota Kirloskar Deputy MD (sales & marketing) Sandeep Singh said.

ECB issuers now confront mark-to-market losses

Posted: 22 Nov 2011 03:49 PM PST

The current weakness of the Indian rupee, from about 45 to a US dollar in May to below 52 now, could lead to tough times for Indian corporates which mobilized funds by borrowing abroad, through the external commercial borrowing (ECB) route.

Jet to raise $300m

Posted: 22 Nov 2011 03:46 PM PST

Naresh Goyal-promoted Jet Airways on Tuesday said it is looking to raise around $300 million via sale and lease back of around 40 aircraft after auditors of India's largest airline warned that the carrier needs to raise funds if its accounts have to be prepared on a "going concern basis".

Rupee dives to lifetime low of Rs 52.73

Posted: 22 Nov 2011 03:38 PM PST

The rupee continued its free fall and touched a nadir of 52.73 against the dollar, before recovering a little to close at 52.32, amid indications from RBI and the government that there was little that authorities could do to prop up the currency.

Abbott, Dabur, GSK eye Jagdale’s energy drinks biz

Posted: 22 Nov 2011 03:35 PM PST

A line-up of MNC and Indian bidders are in the fray to acquire home grown electrolyte energy drinks business of Jagdale Healthcare, which is on the block.

Telcos want 3G refund if roaming is not allowed

Posted: 22 Nov 2011 03:32 PM PST

The stiff, two-page letter is copied to finance minister Pranab Mukherjee, telecom minister Kapil Sibal, law minister Salman Khurshid, principal secretary to the PM, Pulok Chatterji, cabinet secretary Ajit Kumar Seth and DoT secretary R Chandrashekhar.

Kraft takes big India bite with Cadbury buy

Posted: 22 Nov 2011 03:30 PM PST

The 58-year-old Kraft CEO and chairman, who regularly figures on the world's most powerful woman list, spearheads a food-and-beverage behemoth with 12 iconic brands in excess of $1 billion revenue and 40 brands that are more than a century old.

ONGC withdraws FPO, sell-off target may suffer

Posted: 22 Nov 2011 03:26 PM PST

Oil and Natural Gas Corp (ONGC) has withdrawn documents it had filed for a share sale in the firm, dealing a fresh blow to the government's efforts to raise Rs 40,000 crore from stake sales in state-run firms in the current financial year.

Buzz over Akula quitting as SKS chief rises

Posted: 22 Nov 2011 03:23 PM PST

The buzz over Vikram Akula, founder chairman of the embattled SKS Microfinance, stepping down got stronger ahead of a crucial board meet in Mumbai on Wednesday.

Desi online retailers unleash ad blitzkrieg

Posted: 22 Nov 2011 03:21 PM PST

Travel portals like makemytrip, yatra and cleartrip entered mass media advertising sometime back but the rush of brand-building activity from the e-tailing fraternity worries critics, who caution against the hype surrounding online retailing.

MNCs move SC over drug price control

Posted: 22 Nov 2011 03:19 PM PST

OPPI through an application seeking "impleadment" in the ongoing public interest litigation on the drug pricing issue in the Supreme Court, wants to be a formal party in the case. Sources said that the OPPI filed the application to engage with the government "more actively'', and wanted to ensure that its case is heard.

MPs owe MTNL over Rs 9 crore

Posted: 22 Nov 2011 07:39 AM PST

Sitting and former MPs from various parties owe a staggering Rs.9 crore to state-run telecom provider MTNL, over and above the free calls they are allowed, a reply to a Right to Information (RTI) query revealed Tuesday.

Airtel officials sold shares worth Rs4.6cr

Posted: 22 Nov 2011 07:35 AM PST

Two senior officials of telecom service provider Bharti Airtel have sold shares of the company worth Rs 4.6 crore through open market transactions, the company said on Tuesday.

Akula to step down from SKS Microfinance board

Posted: 22 Nov 2011 03:54 AM PST

Vikram Akula, the one-time poster boy of microfinance and founder-chairman of SKS, India's largest microfinance institution ( MFI), is set to lose control over the company he founded in 1998.
Posted by Harshad at 9:35 PM

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