Thursday, October 4, 2012

Rupee at near 6-month high

Rupee at near 6-month high


Rupee at near 6-month high

Posted: 04 Oct 2012 08:56 PM PDT

The Indian rupee rose to a near six-month high in opening trade on Friday after the government took more reform measures to attract foreign investment.


Pepsi cuts price, Coke unlikely to follow suit

Posted: 04 Oct 2012 08:29 PM PDT

Beverage maker PepsiCo has cut the price of Pepsi 600 ml PET bottles to Rs 25 from Rs 28 to push volumes in the festive season, but its archrival Coca-Cola has decided not to match the offer.


Munni jawaan hui Dabur tere liye

Posted: 04 Oct 2012 08:21 PM PDT

Dabur will relaunch the once-popular energiser brand '30-Plus' this month and has roped in Bollywood item queen Malaika Arora Khan to revitalise the brand it acquired in May last year.


OIL, IOC join US shale oil, gas rush

Posted: 04 Oct 2012 05:09 PM PDT

Oil India Ltd (OIL) and IndianOil Corporation have joined the great shale oil and gas rush in the US, jointly picking up 30% stake in a field owned by Houston-based Carrizo Oil & Gas.


‘We’ve turned from being depressed to hopeful’

Posted: 04 Oct 2012 05:05 PM PDT

Naina Lal Kidwai, country head of HSBC India, is optimistic about the unfolding economic reforms. In an interview to TOI, the veteran banker and senior VP, Ficci, says that the passage of the insurance and pension bills are key to the development of the infrastructure sector. Kidwai says the government's recent reform moves have helped boost sentiment and foreign capital is ready to come in.


More capital for projects through infra debt funds

Posted: 04 Oct 2012 05:01 PM PDT

The government on Thursday set the stage for making more capital available for ports, power, road and airport projects through the infrastructure debt funds (IDFs).


FMC may get more teeth

Posted: 04 Oct 2012 04:55 PM PDT

Forward Markets Commission (FMC), which regulates the commodities trading market, could soon become an autonomous regulatory body like RBI, Sebi and IRDA if Parliament passes the amendments to the Forward Contracts Regulation Act (FCRA), which got the cabinet approval on Thursday.


Amendments to Competition Act get nod

Posted: 04 Oct 2012 04:53 PM PDT

The Union Cabinet on Thursday approved the move to amend the Competition Act, 2002 which is expected to fine-tune the Act to meet the present day needs for address issues related to competition.


More change as Rs 10 note gives way to coin

Posted: 04 Oct 2012 04:46 PM PDT

The Rs 10 note may soon become history, completely replaced by its coin avatar like the Re 1 and Rs 2 notes in the 1990s and the Rs 5 note more recently.


Industry fears House deadlock

Posted: 04 Oct 2012 04:44 PM PDT

A large section of the insurance industry feels that by linking all reforms to FDI, the government risks deadlocking other amendments since the BJP and some UPA allies are opposed to FDI. Insurance players, however, feel that the spirit behind government move is positive.


Wait for pension reforms over

Posted: 04 Oct 2012 04:42 PM PDT

It's a sector that has been waiting for a full-time regulator for almost a decade but the wait for a pension watchdog, armed with legislative backing, may finally be over with Cabinet on Thursday endorsing the Pension Fund Regulatory and Development Authority Bill.


Cabinet okays Cos Bill, legal experts see loopholes

Posted: 04 Oct 2012 04:37 PM PDT

The Union Cabinet on Thursday approved the Companies Bill, 2011. The bill includes mandates for companies to spend on corporate social responsibility in the areas they operate in, makes directors directly responsible for protection of both environment and employees, and calls for fixing inter-corporate loan rates at the prevailing rate of government securities.


Sensex soars above 19k on reforms move

Posted: 04 Oct 2012 04:34 PM PDT

Expectations of further reforms lifted sentiments at Dalal Street on Thursday with the sensex closing 188 points higher at 19,058 — its first close above the 19K mark after over 15 months.


Health insurance business to get a fillip

Posted: 04 Oct 2012 04:30 PM PDT

Consumers can look forward to a series of changes and not just the advent of new companies and insurance options if the reforms package approved the Cabinet on Thursday gets a green signal from Parliament.


Kingfisher extends lockout by 3 days

Posted: 04 Oct 2012 02:37 PM PDT

Kingfisher Airlines has extended its partial lock-out period by another three days to Sunday. With this development, the airline which was once the second largest carrier of the country, will have an almost week- long closure.


Govt approves 12th five year plan

Posted: 04 Oct 2012 08:46 AM PDT

The 12th plan document has already been approved by the full Planning Commission chaired by Prime Minister Manmohan Singh on September 15.


Kingfisher extends lockout by another 3 days

Posted: 04 Oct 2012 08:41 AM PDT

The airline also announced in the National Stock Exchange that its Company Secretary, Bharath Raghavan, has quit the company.


Mahindra to launch SsangYong Rexton Oct 17

Posted: 04 Oct 2012 06:38 AM PDT

Rexton is the first high-end SUV under SsangYong banner to be manufactured at the M&M Ltd. production facility in Chakan, near Pune.


Rupee at five-and-a-half-month high

Posted: 04 Oct 2012 04:55 AM PDT

The rupee rose to a five-and-a-half-month high on Thursday, as the government looked set to push forward with more fiscal and economic reforms, sparking a rally in stocks that is expected to attract more foreign investor inflows.


Sensex closes past 19,000 mark

Posted: 04 Oct 2012 04:00 AM PDT

After resuming 30 points lower compared to yesterday, the BSE benchmark index hit 19,107.04, its highest since July 2011.


Gold declines by Rs 125 on weak demand

Posted: 04 Oct 2012 03:08 AM PDT

Gold prices lost Rs 125 to Rs 31,575 per 10 grams in the national capital on Thursday on weak demand at prevailing higher levels amid strengthening rupee.


Full production in Manesar by mid-Oct: Maruti

Posted: 04 Oct 2012 03:02 AM PDT

Maruti Suzuki India said on Thursday that production at its Manesar plant, which faced labour troubles recently, will return to normal by the middle of this month.


Tata Power looking for coal assets in US, Africa

Posted: 03 Oct 2012 11:42 PM PDT

Tata Power is looking for coal assets in the United States, Colombia and Africa, its managing director Anil Sardana told reporters at an industry event on Thursday.


Sensex above 19,000 on reforms hopes

Posted: 03 Oct 2012 11:14 PM PDT

The Union Cabinet will consider today raising FDI cap in insurance sector to 49% and opening the pension sector to foreign investment.

Rupee breaches 52-level; up 28 paise

Posted: 03 Oct 2012 10:20 PM PDT

The rupee on Thursday rose above the Rs 52 level by gaining 28 paise to fresh five-and-half month high of 51.88 against the American currency.


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