News 1st Look: Dissent brewing in Nasscom's ranks

Friday, June 22, 2012

Dissent brewing in Nasscom's ranks

Dissent brewing in Nasscom's ranks
Brands pump in more money as Indians show interest
PMO accepts CIL's plan for lower supply guarantee
Air India flights to US, Europe biggest losers
India Inc cuts overdependence on MBAs
Govt, RBI to take steps to arrest rupee fall: Pranab
OBC cuts interest rate on export credit by 0.25%
India's forex reserves rose by $2bn: RBI
Gold, silver slide on profit-taking, weak global cues
Rupee ends at 57.12 per dollar
Sensex down 60 points on falling rupee
Oil hits 18-month low on weak data
FIIs hike stake in India Inc in Jan-Mar quarter
Cement shares slide after price-fixing fine
Sensex 97 points down in intra-day trade
Top banks hit with Moody's downgrade
Sensex sheds 129 points in early trade
RBI perfects the art of delivering a sucker punch

Posted: 22 Jun 2012 03:19 PM PDT

IT-BPO industry body Nasscom, which has long been a strong lobbying organization partly due to the unified face it has presented before the world, has developed some cracks. Strong voices against the current dispensation are coming from the BPO industry. There is also some disquiet among smaller IT companies, especially IT product companies.

Brands pump in more money as Indians show interest

Posted: 22 Jun 2012 02:56 PM PDT

On the rising popularity of football in India, Basabdutta Chowdhury, CEO of Madison Media Plus which shared its report exclusively with TOI, said, "Football as a sport is gaining a lot of traction among audiences that have spending power and this is what advertisers are looking to cash in on."

PMO accepts CIL's plan for lower supply guarantee

Posted: 22 Jun 2012 02:55 PM PDT

The Prime Minister's Office on Friday took a reality check and accepted the coal ministry's argument for a reduced coal supply guarantee to power stations.

Air India flights to US, Europe biggest losers

Posted: 22 Jun 2012 02:50 PM PDT

Profitability or just breaking even may be like chasing a mirage for the almost bankrupt Air India.

India Inc cuts overdependence on MBAs

Posted: 22 Jun 2012 02:44 PM PDT

The B-school placement season this year may have been subdued, but the number of fresh graduates being recruited by companies at entry level is increasing by the year.

Govt, RBI to take steps to arrest rupee fall: Pranab

Posted: 22 Jun 2012 07:46 AM PDT

Concerned over declining Rupee, which fell to an all time-low of Rs 57.37 a dollar, Finance Minister Pranab Mukherjee today said that the government and the Reserve Bank will take steps to arrest the slide of the Indian currency.

OBC cuts interest rate on export credit by 0.25%

Posted: 22 Jun 2012 07:25 AM PDT

Oriental Bank of Commerce (OBC) today announced 0.25 per cent cut in lending rate on export credit in response to RBI increasing the export re-finance limits of banks to 50 per cent.

India's forex reserves rose by $2bn: RBI

Posted: 22 Jun 2012 06:37 AM PDT

India's foreign exchange reserves rose by $2 billion to 289.396 billion in the week to June 15 amid intense pressure on rupee vis-a-vis dollar on strong import demand for the greenback.

Gold, silver slide on profit-taking, weak global cues

Posted: 22 Jun 2012 06:12 AM PDT

Gold prices slid further at the bullion market here today on heavy profit taking from stockists and investors amidst weak trend in global markets, where precious metals posted their biggest-ever single day drop.

Rupee ends at 57.12 per dollar

Posted: 22 Jun 2012 05:41 AM PDT

The rupee hit a record low against the dollar for a second consecutive session on Friday and posted its worst weekly fall in nine-months, hurt by dollar demand from oil firms and gold importers as well the broad risk-off sentiment.

Sensex down 60 points on falling rupee

Posted: 22 Jun 2012 04:41 AM PDT

Snapping 3-day upsurge, the BSE benchmark Sensex today declined 60 points on increased capital outflows as rupee slumped to record low amid weak global trend, with cement stocks taking hit over CCI penalty imposed on them.

Oil hits 18-month low on weak data

Posted: 22 Jun 2012 02:24 AM PDT

Oil rebounded from an 18-month low on Friday to trade back above $90 a barrel as some investors saw the dip in prices as a buying opportunity.

FIIs hike stake in India Inc in Jan-Mar quarter

Posted: 22 Jun 2012 12:19 AM PDT

Despite weakening fundamentals and a depreciating rupee, foreign institutional investors hiked their combined stake in top Indian companies marginally during the quarter ended March 2012, when compared with their holdings at the end of quarter ended December 2011.

Cement shares slide after price-fixing fine

Posted: 21 Jun 2012 11:36 PM PDT

Eleven of the country's biggest cement companies were handed the record fine by the Competition Commission of India.

Sensex 97 points down in intra-day trade

Posted: 21 Jun 2012 11:12 PM PDT

The BSE benchmark sensex was down by 97 points in the late morning session due to selling from operators mainly in metal, refinery, banking and realty counters, triggered by fall in the overseas market.

Top banks hit with Moody's downgrade

Posted: 21 Jun 2012 10:11 PM PDT

The health of 15 of the world's largest financial institutions has been called into serious question after Moody's downgraded their credit ratings, citing risk exposure and the Eurozone crisis.