Tuesday, June 5, 2012

GAIL bond issue oversubscribed 5 times

GAIL bond issue oversubscribed 5 times

GAIL bond issue oversubscribed 5 times

Posted: 05 Jun 2012 06:27 PM PDT

State-owned gas utility GAIL on Tuesday said it has raised Rs 750 crore after its bonds issue got oversubscribed five times. The utility launched the issue of Rs 500 crore with a greenshoe option of Rs 250 crore.

HP focuses on restructuring, realignment to push growth

Posted: 05 Jun 2012 06:22 PM PDT

Faced with mounting troubles, HP is working on a two-pronged 'R' strategy — restructuring of workforce and realignment and strengthening of product portfolio — to stem the profit decline and keep competition at bay.

India readies plan for Euro area meltdown

Posted: 05 Jun 2012 06:14 PM PDT

India has prepared a contingency plan for Greece exiting the Eurozone and even a collapse of the monetary union, Indian officials said on Tuesday.

Services sector growth at 3-month high

Posted: 05 Jun 2012 06:10 PM PDT

India's services sector grew at its fastest pace in three months in May on the back of new work and firms were optimistic about the business outlook in the months ahead, but price pressures remained strong, a survey showed on Tuesday.

Govt offers sops to boost exports

Posted: 05 Jun 2012 05:56 PM PDT

The government on Tuesday unveiled a sevenpronged strategy, including subsidized loans and other sops, to boost exports, which are expected to rise a minimum 20% during the current financial year.

Views turn dovish, RBI seen cutting rates: Survey

Posted: 05 Jun 2012 07:02 AM PDT

Most economists polled now expect the Reserve Bank of India (RBI) to cut interest rates at its policy review later this month, driven by dismal economic data, falling oil prices and recent comments by a central bank official.

Rupee ends flat at 55.64 against dollar

Posted: 05 Jun 2012 05:58 AM PDT

The rupee, which closed at 55.65 yesterday, resumed higher at 55.39 a dollar at the Interbank Foreign Exchange (Forex) market.

Sensex holds on to 16,000 level

Posted: 05 Jun 2012 05:53 AM PDT

After surging 150 points, the BSE Sensex lost the initial momentum but closed above the crucial 16,000-level on Tuesday.

One in three chance of Greece exiting eurozone: S&P

Posted: 05 Jun 2012 02:05 AM PDT

There is at least a one-in-three chance of Greece exiting the eurozone in the coming months, following national elections on June 17, a report by global ratings agency Standard & Poor's said.

HSBC India Services PMI jumps to 3-month high

Posted: 04 Jun 2012 11:55 PM PDT

India's services sector grew at the fastest pace in the last three months during May, driven by robust growth in new orders and optimistic business outlook, says a HSBC survey.

Re up 27 paise against dollar to hit 1-week high

Posted: 04 Jun 2012 09:29 PM PDT

The rupee on Tuesday strengthened by 27 paise to trade at a fresh one-week high of 55.38 against the US dollar in early trade on the Interbank Foreign Exchange, as the American currency weakened against euro overseas.

Sensex up 99 pts on rate cut hopes

Posted: 04 Jun 2012 09:21 PM PDT

The BSE benchmark Sensex on Tuesday rose by nearly 99 points to trade over the 16,000-mark in early trade on buying by funds and retail investors supported by hopes of rate cut by RBI and recovery in rupee against the US dollar in forex market.
Posted by Harshad at 9:04 PM

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