The National Stock Exchange’s Nifty fell below strong support level which is likely to put more pressure on the benchmark in the short-term. Global factors like eurozone worries, slowing US economy and weaking rupee back home has been hurting investors sentiments. At 12:10 pm; the Nifty was at 4707.65, down 104.70 points or 2.18 per [...]
The government will initiate action to limit the amount of expenditure Reliance Industries is allowed to recoup from its flagging KG-D6 gas fields in 3-4 weeks, Oil Secretary G C Chaturvedi said today. "We had sought an opinion of the Law Ministry (on restricting cost recovery — now at 100 per cent — in proportion [...]
With rupee breaching the 52/USD mark, the stock market sentiment has been bruised further. The 30-share BSE Sensex fell 387 points to below 16000 at 15984.42 and the 50-share NSE Nifty crashed 118 points to 4,788. Global environment, which has been the key reason for today’s capitulation, has shown no signs of reversing the trend. [...]
A spokesman for Reliance Industries denied on Wednesday a newspaper report the Indian energy major was in talks to buy a stake in cash-strapped Kingfisher Airlines. The Business Line newspaper had reported that Reliance might make a financial investment or pick up a stake through a preferential offer by the carrier, which could be followed [...]
Shares of Kingfisher Airlines rose more than 4 per cent on Monday on Economic Times’ report that the cash-strapped carrier would consider proposals, including selling property, to cut its $1.3 billion debt by more than half. The board of Kingfisher Airlines (KFA) will consider a proposal to cut debt by more than half by selling [...]
The Bombay Stock Exchange’s Sensex pared some of the intraday losses taking cues from positive European peers. Gains in oil&gas and auto stocks were offset by losses in banks, realty and capita goods space. Earlier in the day, disappointing Index of Industrial Production numbers had dampened sentiments and the benchmarks slipped to intermediate support levels. [...]
The Reserve Bank of India (RBI) is considering to what extent banks’ holdings under the statutory liquidity ratio (SLR) can be used to meet capital requirements for Basel III global banking rules, a central banker said on Sunday. SLR or the proportion of deposits that banks need to invest in government debt and other approved [...]
Europe has a new informal leadership directorate intent on finding a solution to the euro zone’s debt crisis, but it has yet to prove its ability to come up with a lasting formula. Forged in the fire of a bond market inferno, the shadowy so-called Frankfurt Group has grabbed the helm of the 17-nation currency [...]
The announcement was made after market hours on Thursday, 3 November 2011. Shares of Videocon Industries were up 1.42% to Rs. 174.95. Meanwhile, the BSE Sensex was up 159.36 points, or 0.91%, to 17,641.29. On BSE, 3.88 lakh shares were traded in the counter as against an average daily volume of 5.67 lakh shares in [...]
The CBI did not file a charge-sheet against Raju within the statutory period, according to a court order seen by Reuters. According to Indian law, charge-sheet against an accused has to be filed within 90 days of arrest. Raju, a management graduate from Ohio University who founded Satyam in 1987, shocked investors in January 2009 [...]
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