Sensex down 60 points in early trade

Sensex down 60 points in early trade
Chidambaram against fresh spending, schemes
Air India hikes fares, others to follow suit
Kingfisher's overdues to lenders pegged at Rs 800 cr
Auto loans fastest growing segment
ONGC’s 5 billion dollar US buy hits roadblock on Iran business
Banks to give uniform cheques
Infosys executives to join Wipro
PSU banks go slow on loan rate cuts
Manufacturing growth slips to 9-month low on power cuts
Government eyes bigger India Inc tax pie
No rash action in Voda case: Chidambaram
Maruti Suzuki launches refreshed Ritz diesel
Rupee little changed; share losses hurt
No rash action in Vodafone case: Chidambaram
Sensex closes 74 points down
Gold falls from record to Rs 31,610
July exports down 14.8%: Govt
Maruti to increase automation in plants
Rupee gains 10 paise against dollar at 55.42
Sensex up 80 points on funds buying

Posted: 03 Sep 2012 09:27 PM PDT

The BSE benchmark Sensex on Tuesday fell by over 60 points in early trade, extending losing streak for the third straight sessio.

Chidambaram against fresh spending, schemes

Posted: 03 Sep 2012 04:29 PM PDT

Already, there are concerns in the finance ministry over the government falling short of the revenue target - something that Chidambaram ruled out at a press conference - and exceeding the budgeted level of spending.

Air India hikes fares, others to follow suit

Posted: 03 Sep 2012 04:21 PM PDT

Following last Friday's steep 7.6% hike in aviation turbine fuel (ATF) prices, airlines have started hiking fares.

Kingfisher's overdues to lenders pegged at Rs 800 cr

Posted: 03 Sep 2012 04:16 PM PDT

Crisis-ridden Kingfisher has now been given a reality check by its auditors in the company's annual report 2011-12.

Auto loans fastest growing segment

Posted: 03 Sep 2012 04:11 PM PDT

Car loans have been the fastest growing segment among the personal lines business of banks while lending for consumer durables has recorded a sharp drop, according to data released by Reserve Bank of India.

ONGC’s 5 billion dollar US buy hits roadblock on Iran business

Posted: 03 Sep 2012 04:09 PM PDT

ONGC's latest move to acquire $5 billion worth of oil sands assets in Alberta, owned by energy major ConocoPhillips, has hit a roadblock because of its investments in Iran and Sudan, countries that are facing tough economic sanctions imposed by the US.

Banks to give uniform cheques

Posted: 03 Sep 2012 04:06 PM PDT

The Reserve Bank of India (RBI) on Monday directed all banks to issue cheques with uniform features conforming to the Cheque Truncation System (CTS) 2010 standard by the end of the current month.

Infosys executives to join Wipro

Posted: 03 Sep 2012 04:03 PM PDT

Infosys's head of financial services in the US, the company's largest services segment, resigned and will join competitor Wipro.

PSU banks go slow on loan rate cuts

Posted: 03 Sep 2012 04:00 PM PDT

Over two weeks after the government suggested that state-owned lenders could lower the EMI (equated monthly installment) burden on consumer durables finance and auto loans, only a handful of players have moved ahead.

Manufacturing growth slips to 9-month low on power cuts

Posted: 03 Sep 2012 03:59 PM PDT

The country's manufacturing sector witnessed the weakest growth rate in nine months in August because of shrinking export orders and disruptions caused by power failures, an HSBC survey said.

Government eyes bigger India Inc tax pie

Posted: 03 Sep 2012 03:57 PM PDT

During a meeting with chief commissioners of income tax, the minister pointed out that the average corporation tax was 24%, while the actual rate was 30%.

No rash action in Voda case: Chidambaram

Posted: 03 Sep 2012 03:54 PM PDT

Finance minister P Chidambaram on Monday ruled out any "rash" action in the Rs 12,000-crore Vodafone tax dispute and other similar cases, in a move that will provide further comfort to nervous investors.

Maruti Suzuki launches refreshed Ritz diesel

Posted: 03 Sep 2012 06:53 AM PDT

In order to bring in some excitement in the market, Maruti suzuki, India's largest car maker has launched a refreshed Ritz diesel starting at Rs 5.31 lakh ex-showroom New Delhi.

Rupee little changed; share losses hurt

Posted: 03 Sep 2012 06:30 AM PDT

Rupee was little changed on Monday as weak local shares offset the positive sentiment after a government advisory panel proposed defering the implementation of a controversial set of rules on tax avoidance until 2016.

No rash action in Vodafone case: Chidambaram

Posted: 03 Sep 2012 04:46 AM PDT

The Union finance minister today said there will be no "rash" action in Vodafone tax case and the matter will be decided after considering all aspects.

Sensex closes 74 points down

Posted: 03 Sep 2012 04:21 AM PDT

Amid choppy trade, a benchmark index of Indian equities markets Monday closed 74 points lower. Realty, oil and gas and metal scrips were the worst hit.

Gold falls from record to Rs 31,610

Posted: 03 Sep 2012 03:37 AM PDT

Gold prices declined from record high to Rs 31,610 in the bullion market here today due to fall in demand at prevailing higher levels.

July exports down 14.8%: Govt

Posted: 03 Sep 2012 01:35 AM PDT

India's annual exports fell 14.8 percent to $22.4 billion in July, while imports fell 7.6 percent to $37.9 billion, leaving a trade deficit of $15.5 billion, the trade ministry said in a statement on Monday.

Maruti to increase automation in plants

Posted: 02 Sep 2012 11:42 PM PDT

Maruti Suzuki, India's largest carmaker in terms of market share, is automating certain critical production functions in its manufacturing plants that will bring its Manesar operations on par with its hi-tech plants in Hamamatsu, Japan.