Monday, November 21, 2011

Sensex bounces back, up 151 points

Sensex bounces back, up 151 points

Sensex bounces back, up 151 points

Posted: 21 Nov 2011 08:23 PM PST

The BSE benchmark Sensex rebounded by over 151 points in opening trade on Tuesday, snapping its eight-session long losing streak on the emergence of buying at prevailing levels amid covering up of short positions by speculators.

Voda contests CBI allegations

Posted: 21 Nov 2011 05:23 PM PST

Vodafone has responded to the CBI's charges on Saturday of revenue loss on account of excess spectrum, displaying its unwillingness to take the allegations lying down.

Exporters’ joy short-lived as Re weakens

Posted: 21 Nov 2011 05:20 PM PST

A weak rupee would have thrilled exporters but rising input costs due to a sharp spike in raw material imports has lengthened their worries.

Gold up in India; metals, oil fall globally

Posted: 21 Nov 2011 05:15 PM PST

Gold rose by Rs 35 to Rs 29,240 per 10 grams in Delhi on buying for the ongoing marriage season although silver closed Rs 550 a kg lower at Rs 55,850 per kg as industrial units, facing economic slowdown, refrained from purchasing the white metal.

Weaker rupee adds to policy headache

Posted: 21 Nov 2011 05:12 PM PST

Following Monday's fall, the Indian currency has declined more than Rs 7 against the dollar since August 1. A weaker rupee adds to inflation by pushing up cost of imports, particularly crude. Every weakening rupee adds Rs 8,000 crore to the crude bill.

SC refuses to entertain PIL against Sebi chief

Posted: 21 Nov 2011 05:09 PM PST

The Supreme Court on Monday refused to entertain a PIL accusing finance minister Pranab Mukherjee of interfering in the selection process for members and chairman of market regulator Securities and Exchange Board of India (Sebi) but wondered why bureaucrats were often preferred as heads of various regulators.

Govt may infuse 30,000cr into AI

Posted: 21 Nov 2011 05:05 PM PST

A panel of secretaries has voted in favour of providing support of Rs 30,000 crore to Air India besides exploring the possibility of disinvesting government stake once it turns profitable.

Tata Sons offers 5:1 bonus, third under Tata leadership

Posted: 21 Nov 2011 05:00 PM PST

Tata Sons, the holding company of the $83-billion Tata Group, has proposed a bonus issue after 12 years on the back of a robust year when it doubled its profits.

FII investment value dives 23% in 6 months

Posted: 21 Nov 2011 04:55 PM PST

The sharp fall in the rupee, combined with the slide in the domestic and global markets, has pushed foreign institutional investors (FIIs) into a precarious position.

Costlier imports to hurt India Inc’s margins

Posted: 21 Nov 2011 04:47 PM PST

With the rupee breaching the 52 per dollar mark, profit margins of companies that import commodities or components would come under severe pressure, which could result in price increases for the consumer.

Forex losses singe Corporate India

Posted: 21 Nov 2011 04:41 PM PST

High interest rates and input costs were anyway eating into corporate profits. Adding insult to injury is the weakening rupee , with heavy forex losses taking India Inc's profits further down.

Re at all-time low of 52.16, to impact everyday life

Posted: 21 Nov 2011 03:47 PM PST

The rupee hit a low of 52.16 against the US dollar on Monday, making imports, overseas travel and studies at foreign universities more expensive but cheering exporters and families that depend on remittances.

Airlines bleed, but domestic passenger traffic up 18%

Posted: 21 Nov 2011 02:17 PM PST

Domestic air passenger traffic continues its enviable growth with the country registering an 18% increase this year compared to last year despite turbulence in the aviation sector.

Commodities fall globally

Posted: 21 Nov 2011 01:24 PM PST

Gold rose marginally in the domestic market due to a depreciating rupee even as global crude and metal prices beat a retreat on fresh fears of a global slowdown with China warning of a recession.

Maruti may not post sales volume growth this FY

Posted: 21 Nov 2011 06:16 AM PST

Maruti Suzuki may not post growth in sales volume in the current fiscal year, its chairman said on Monday, as the country's top carmaker suffered heavy production losses due to a labour strike, while demand for cars remains weak in Asia's third-largest economy.

Maruti may not post sales volume growth this FY

Posted: 21 Nov 2011 06:16 AM PST

Maruti Suzuki may not post growth in sales volume in the current fiscal year, its chairman said on Monday, as the country's top carmaker suffered heavy production losses due to a labour strike, while demand for cars remains weak in Asia's third-largest economy.

'RBI's ability to intervene in forex market limited'

Posted: 21 Nov 2011 04:06 AM PST

The finance ministry on Monday said the ability of the Reserve Bank to intervene in the forex market to arrest the fall in rupee is limited, even as the Indian currency declined to a 32-month low of Rs 51.50 per US dollar in the early trade.

Kingfisher, four others fall after F&O exit

Posted: 21 Nov 2011 03:55 AM PST

Shares of Kingfisher Airlines and four other companies fell after the country's leading bourse National Stock Exchange decided to exclude them from its derivatives trading segment.

'Fiscal deficit to breach 4.6% of GDP'

Posted: 20 Nov 2011 11:11 PM PST

India's fiscal deficit in the current fiscal year will exceed 4.6 percent of the gross domestic product target, though the final figures would depend on the actual expenditure, the deputy chairman of the Planning Commission said.
Posted by Harshad at 9:29 PM

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