Indian markets continued to move higher as sentiments turned bullish after UPA was seen winning state assembly elections in the West Bengal and Assam. According to dealers, the loss of Left parties in West Bengal and Kerala has also perked up sentiments. The positive opening of European markets also provided support At 2:20 pm; National [...]
Indian markets ended a rangebound session in the positive territory as buying activity emerged up in the last hour of trade. Realty, metals and auto stocks were the top sectoral performers while capital goods stocks ended marginally lower. Indices opened in the green but turned choppy as institutional investors continued to remain cautious on Indian [...]
The government plans to hike diesel prices by up to Rs 3 a litre soon after the Assembly elections in five states are over next week, while an equivalent steep increase in petrol rates is also on card. "An Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee is scheduled to meet on [...]
Indian markets ended in the red after briefly moving into positive terrain. Gains in oil&gas, FMCG and capital goods were offset by losses in auto, technology and metals space. National Stock Exchange’s Nifty ended at 5537.30, down 27.95 points or 0.50 per cent. The broader index touched a high of 5578.80 and low of 5503 [...]
Fast moving consumer goods player Dabur India has entered into an agreement to buy the ‘30-Plus’ energizing capsules brand from Mumbai-based Ajanta Pharma to boost its health care business. The financial terms and conditions of the deal were not disclosed. "The acquisition of ‘30-Plus’ is part of an aggressive strategy to build capability on the [...]
Mundra Port and Special Economic Zone on Tuesday said it acquired Abbot Point Coal Terminal in Queensland state of Australia . The all cash deal is valued at Rs 9,000 crore (1.8 billion Australian dollars) was signed in Brisbane between officials of Mundra Port Pty Limited, a 100% owned Australian subsidiary of MPSEZ and Queensland [...]
Stock prices crashed Tuesday, as bulls paid dearly for taking RBI governor Duvvuri Subba Rao’s conservative style for granted. The central bank on Tuesday hiked key signalling rates—the rates at which RBI borrows from and lends to banks–by 50 basis points each, instead of 25 basis points as was widely expected of it. Bank shares [...]
Corporation Bank has posted a net profit of Rs. 3453.308 mn for the quarter ended March 31, 2011 as compared to Rs. 3123.293 mn for the quarter ended March 31, 2010. Total Income has increased from Rs. 21948.620 mn for the quarter ended March 31, 2010 to Rs. 30457.814 mn for the quarter ended March [...]
Indian stocks fell for a fourth consecutive day. After opening with gains, the benchmark indices turned volatile as traders tried to square off their positions in the F&O segment. By noon the trend turned negative after data released by the government pointed to a continuance of high food inflation. India’s food inflation for the week [...]
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FIIs to tread with ‘caution’ in India: Credit Suisse
In an interview with Latha Venkatesh, Banking Editor of CNBC-TV18, Robert Prior-Wandesforde, Head of India & South East Asia Economics of Credit Suisse spoke about Reserve Bank of India (RBI) breaking its sluggishness, raising its key policy rate to tame rising inflation. Below is a verbatim transcript of the exclusive interview. Q: Your comments on [...]