Tuesday, April 3, 2012

MFs lost Rs 36k cr in assets last fiscal

MFs lost Rs 36k cr in assets last fiscal

MFs lost Rs 36k cr in assets last fiscal

Posted: 03 Apr 2012 02:28 PM PDT

The mutual fund (MF) industry, which has been battling a downturn for almost a year now, lost nearly Rs 36,000 crore in assets or 5.1% in the just concluded fiscal year. The average assets under management (AUM) of fund houses stood at Rs 6,68,824 crore in 2011-12, the lowest in three years.

Kim seeks India’s support for WB top job

Posted: 03 Apr 2012 02:23 PM PDT

Jim Yong Kim, the US nominee for the World Bank president's post, made a round of the Indian Capital on Tuesday to garner support for his candidature.

Bhel withdraws FPO, net rises 14%

Posted: 03 Apr 2012 02:21 PM PDT

State-run power equipment manufacturer Bhel on Tuesday said it has withdrawn the initial papers for a follow-on offer filed with the markets watchdog, even as it posted a 14% rise in net profit at Rs 6,868 crore in 2011-12 from Rs 6,011 crore in 2010-11 on the back of higher operational efficiency.

Honda zooms past ‘Hamara Bajaj’

Posted: 03 Apr 2012 01:49 PM PDT

It is one of the biggest upsets in the Indian two-wheeler industry. Within just over a year of going solo in India, Japanese giant Honda has beaten 'Hamara Bajaj' with a comprehensive lead to emerge as the second-biggest two-wheeler maker, behind Hero MotoCorp (erstwhile Hero Honda) of the Munjals.

Gini & Jony eyes stake sale as Rel Cap pushes for exit

Posted: 03 Apr 2012 01:45 PM PDT

Financial investors, including Anil Ambani's Reliance Capital (Rel Cap), are pushing for an exit from homegrown kidswear retailer Gini & Jony, possibly leading to a strategic sale of the company which went through a corporate debt restructuring (CDR) last year.

BSE’s CEO Kannan to join Tata Sons

Posted: 03 Apr 2012 01:43 PM PDT

Madhu Kannan, MD and CEO of Bombay Stock Exchange (BSE), is joining Tata Group's holding company, Tata Sons, to head the group's business development. Kannan, who has earlier worked with Bank of America Merrill Lynch (BofA ML) and the New York Stock Exchange (NYSE), will report to Cyrus P Mistry, currently the group's deputy chairman.

CIL gets decree to ink supply pacts

Posted: 03 Apr 2012 01:40 PM PDT

The government on Tuesday issued a presidential directive to state-run Coal India (CIL) to sign a 20-year fuel supply agreement (FSA) with new power projects, guaranteeing to supply at least 80% of the contracted quantity.

Borrower defaults at 10-yr high as demand wanes

Posted: 03 Apr 2012 01:35 PM PDT

Default rates among corporate borrowers have hit a 10-year high of 3.4% in 2011-12. Companies are finding it increasingly difficult to pay loans because of high interest rates, elevated commodity prices and lower demand following the Eurozone crisis.

Brand India saving grace in time of crisis

Posted: 03 Apr 2012 01:24 PM PDT

There's more to India than just its over-emphasized status of being the most populous democracy in the world. Random economic facts like India being the largest producer of milk, the largest consumer of sugar and spices as also the largest consumer of gold till last year, crop up now and then.

Banks to work full day this Saturday

Posted: 03 Apr 2012 09:38 AM PDT

In view of three holidays this week, public sector banks have been directed to function full day on Saturday, April 7.

IMF chief calls on US for more cash

Posted: 03 Apr 2012 08:42 AM PDT

IMF managing director Christine Lagarde implored the United States to help back-stop debt-ridden European countries Tuesday, wading neck-deep into bubbling US political waters.

India retains top global business confidence: Report

Posted: 03 Apr 2012 06:30 AM PDT

Amid eurozone crisis and uncertain economic climate, emerging economies of Brazil and India have topped the business confidence index, says a Regus report.

BSE Sensex closes at 2-week high

Posted: 03 Apr 2012 06:05 AM PDT

The BSE Sensex rose to its highest close in almost two weeks on Tuesday, as Bharat Heavy Electricals (BHEL) advanced after posting positive provisional earnings, while lenders gained on anticipation of a rate cut from the central bank this month.

Rupee pulled off 2-week high on oil payments

Posted: 03 Apr 2012 06:02 AM PDT

The rupee closed stronger on Tuesday, the first trading day of the new fiscal year, helped by an improvement in global risk appetite that pushed local stocks higher, while demand for dollars from oil importers pulled it back from a two-week high.

Kingfisher Airlines says will pay staff

Posted: 02 Apr 2012 10:48 PM PDT

Kingfisher Airlines will resume payment of staff salaries starting this week after tax authorities unfroze its bank accounts, Vijay Mallya, said in a letter to employees.

Rupee hits 2-week high in 2012/13 trade

Posted: 02 Apr 2012 10:02 PM PDT

Rupee climbed to its strongest level in nearly two weeks on Tuesday, the first session of the new financial year 2012/13, bolstered by bunched dollar inflows after a three-day weekend.

Re up by 31 paise against dollar in early trade

Posted: 02 Apr 2012 09:30 PM PDT

Rupee gained 31 paise to Rs 50.56 against the American currency on the Interbank Foreign Exchange market in early trade today on increased foreign fund inflows amid firm equity markets.

Sensex gains 140 points in early trade

Posted: 02 Apr 2012 09:17 PM PDT

Extending gains for the third straight day, the BSE benchmark Sensex rose by over 140 points in early trade on Tuesday on sustained buying by funds and retail investors, tracking a firming global trend.

Salary hikes pegged at 12% in India

Posted: 02 Apr 2012 03:43 PM PDT

Employees across corporate India are expected to receive an average salary hike of around 12%, two separate reports have predicted, signalling a healthy recovery for the economy.

Fat's in the fire as edible oil prices rise 10%

Posted: 02 Apr 2012 12:32 PM PDT

Edible oil prices soared almost 10%-Rs 6 to 8 per kg-in the last one month, piling up pressure on the already vulnerable food inflation.
Posted by Harshad at 9:20 PM

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)