Smartphone war pinching vendor margins
PRICE EROSION
n increasingly
heated battle in the global smartphone market is set to weigh on handset vendors' profit margins for the rest of the year, analysts said on Friday. All top cellphone vendors includ |
SKS IPO subscribed 1.27 times
THE INITIAL public offer of SKS Microfinance got oversubscribed 1.27 times on the third day of the issue today, with maximum demand coming from institutional buyers. The estimated Rs 1,654 crore issue |
key panel
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BPCL Q1 net loss at Rs 1,718 cr
BHARAT PETROLEUM Corporation Ltd (BPCL) on Friday reported a net loss of Rs 1,718 crore for the first quarter ended June 30, impacted by higher crude oil and product prices. The company had recorded a |
Lavasa plans Rs 2,000cr public offer
CONSTRUCTION MAJOR HCC on Friday said its subsidiary Lavasa Corporation will soon file the offer document with the market regulator SEBI to raise up to Rs 2,000 crore through an initial public offerin |
BLOCKAGE
Google blames China, retracts
Googl
said on Friday that its services appeared to be back up and running normally in China, after the US web giant reported that access to its search engine and other products were being |
political avatar
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Insurers to settle row with hospitals
Cashless health
July 30: Cashless health insurance facility may be restored within 30 days. The state-owned health insurers and major hospitals on Friday decided to form a working group to try to |
RBI POLICY
High rate may have hit jobs
Defending the baby steps taken by the Reserve Bank to contain the high headline inflation, the chief economic advisor, Mr Kaushik Basu, on Friday said more aggressive steps could have adversely affect |
SKS IPO subscribed 77% on day 2
SKS MICROFINANCE'S Rs 1,654-crore public issue - the first public float by any microfinance firm in Asia - has received robust demand from institutional buyers and got subscribed 77 per cent on the se |
EPFO to fix interest rate at 8.5%
RETIREMENT FUND manager EPFO's apex decision-making body, the Central Board of Trustees, will meet on September 4 to decide on the interest rate for depositors for 2010-11, which is likely to be 8.5 p |
Muthoot raises Rs 157cr
KERALA-BASED non banking finance company, Muthoot Finance Limited has raised Rs 157 crore from private equity funds. The company has sold a minority stake to Barings Private Equity and Matrix Partn |
Centre signs deals for 7 gas blocks
GOVERNMENT HAS signed contracts with firms for 7 blocks awarded under fourth round of CBM Policy (CBM-IV) in New Delhi on Thursday. These include four blocks to Essar Oil Limited, one block to Great E |
ONGC's profit dips 24%
ONGC, India's
largest oil and gas producer, has seen first quarter net profit fall by a quarter as it has paid out higher subsidies to oil marketing firms. At an operational level, the company' |
warm talks
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DOUBLE WHAMMY
Job subsidies provide push to private sector
States are putting
hundreds of thousands of people directly into jobs through programmes reminiscent of the more ambitious work projects of the Great Depression. The opportunity to simultaneously |
Base pulls food inflation down
In a breather to the government, food
July 29: In a breather to the Central government, food inflation for the first time this year has dropped to the single digit. Food inflation, or the rate at |
Noel moves up in Tata group pyramid
Mr Noel Tata,
managing director of Trent, the Tata group's flourishing retail arm, has been appointed as managing director of Tata International, a big brand in leather and engineering including aut |
BlackBerry agrees to sort out India's security issues
After the Union
home ministry's tough stance on security concerns related to BlackBerry mobile services, the makers of BlackBerry - Research in Motion (RIM) - have given an assurance to the ministry |
Leyland to acquire Optare
Commercial vehi
July 29: Commercial vehicle major Ashok Leyland, is set to pick up 26 per cent stake for about $7.5 million in UK-based top bus manufacturer Optare, in a move aimed at serving the fut |
high growth
|
Act or face fine: IRDA to insurers
nsur
New Delhi, July 29: Insurance regulator IRDA on Thursday asked the insurance companies to respond to the grievances of customers within two weeks or face penal action, a move aimed at protecting |
KG worries tank RIL's stock
Oil and gas major
Reliance Industries was the top loser amongst the 30 Sensex companies, a day after delivering weak first quarter numbers. While RIL's results were in line with market expectatio |
Aban reinsurer settles rig claim
Aban Offshore
said on Wednesday that it has received a major portion of the $235 million insurance claim for its semi-submersible rig, sending its shares soaring but analysts are not considering upg |
TAX MATTERS
Interest on home loans from in-laws deductible
I have been told that I can invest maximum Rs 4.5 lakh in a single post office monthly income account.
If I opt for a joint account with my wife, it seems I can invest Rs 9 lakh. But half of such i |
Japan firm buys stake in JSW Steel for Rs 4,800cr
Private
steel maker JSW Steel on Tuesday said Japan's steel major JFE will buy 14.99 per cent stake in the company for over Rs 4,800 crore, a move that may help the Indian company reduce its debt.
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BSNL needs partner, says outgoing CMD
Fac
ing a sharp deterioration in its finances and market share, state-owned BSNL on Wednesday said selling a 26 per cent stake to a strategic partner, be it foreign or domestic, could improve its per |
OVL bid for BP's asset soon
ONGC Videsh
(OVL) along with PetroVietnam are expected to make a formal offer within the next few weeks to buy BP's stake in an offshore Vietnamese gas field, the petroleum secretary, Mr S.
Sunda |
future plans
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L&T's sales jump 6.5%
Markets were dis
appointed by the first quarter numbers of engineering major Larsen & Toubro, which declared a first quarter profit of Rs 666 crore. This is 15 per cent higher than the profit from |
5 more PSUs put on block
: The department of
disinvestment has finalised five more PSUs, which will be divested later in the year. The disinvestment secretary, Mr Sumit Bose, said on Tuesday that PSUs which are likely to |
results day
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Centre elevates RBI status
Allaying RBI's fears, the government on Tuesday proposed to elevate its governor's post in the proposed joint mechanism to address the differences among financial regulators over hybrid products. T |
Inflation forces RBI to make credit costly
he Reserve Bank
of India (RBI) reiterated its confidence in India's growth story by hiking the GDP growth rate to 8.5 per cent from eight per cent in April on Tuesday. But it stressed it "worrisome" |
quarterly ritual
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Sahara bets big on Orissa
Sahara India
Power Corporation Limited (SIPCL) will invest Rs 8,000 crore on its proposed 1,320 MW power project in Orissa's Titlagarh district. Commenting on the development, the SIPCL chief exe |
SKS fixes IPO price band at Rs 850-Rs 985 a share
The
nation's largest microfinance company SKS Microfinance on Monday fixed the price band of its IPO at Rs 850 to Rs 985 per share. The Hyderabad-based microfinance firm expects to raise up to Rs |
power talks
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CIL likely to draft IPO papers by next week
State
owned Coal India (CIL) is likely to file a draft prospectus next week for its initial public offering, billed to be India's biggest issue, through which the government expects to raise about Rs |
GSK Pharma June net up at Rs 129 cr
DRUG FIRM GlaxoSmithKline Pharmaceuticals on Monday posted a nearly 4 per cent increase in its net profit to Rs 129 crore in the quarter-ended June 30, 2010, over the same period last year. The compan |
Dabur buys Turkish firm
Making its first ever overseas acquisition, FMCG player Dabur on Monday said that it has acquired Turkish personal care firm Hobi Kozmetik Group for $69 million (about Rs 324 crore) as part of its str |
Moody's remains bullish on rupee
Moody's on Monday upgraded India's local currency sovereign rating by a notch on the country's efforts toward fiscal reforms and the economy's capacity to face a crisis, a move that that will |
information age
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political theatre
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Centre starts search for BSNL boss
THE GOVERNMENT on Monday invited applications from candidates in the public and private sector for the posts of chairman and managing director of two telecom PSUs - BSNL and MTNL. If candidates from t |
Dena Bank Q1 profit jumps 21%
PUBLIC SECTOR lender Dena Bank on Monday reported a 20.67 per cent jump in net profit for the first quarter ended June 30 to Rs 138.79 crore. The company had posted a net profit of Rs 115.02 crore dur |
Union Bank net profit rises 36%
PUBLIC SECTOR lender Union Bank of India on Monday reported a growth of 36 per cent in net profit for the first quarter ended June 30 to Rs 601.42 crore. It had posted a net profit of Rs 442.2 crore f |
RBI hikes growth projection
The Reserve Bank
of India (RBI) expects India's economy to grow faster in FY11 than the 8 per cent projected by it earlier. In a report released on Monday, the bank also said that monetary policy me |
NTPC profit declines by 16% in Q1
NTPC on Monday
posted a 16 per cent decline in its net profit at Rs 1,841.9 crore for the first quarter of fiscal 2011. The net profit for the year ago period was 2,193.6 crore. The company's net |
Broadcaster hits out at Trai DTH plan
Leading broadcaster Star India on Monday hit out at regulator TRAI for "shocking" recommendations for DTH tariff, saying that this would wreak havoc in the industry, and it would seek rejection of the |
MORE COMPETITIVE
Industries find surging profits in job cuts
By most measures,
Harley-Davidson has been having a rough ride. Motorcycle sales are falling in 2010, as they have for each of the last three years. The company does not expect a turnaround anyti |
MFs resist Sebi idea of equal charge
MUTUAL FUND houses are strongly resisting a proposal from market regulator Sebi for treating small investors at par with large institutional ones in terms of various charges, such as exit-loads, with |
Slow down fails to affect Indians' bullish outlook
Indians are the most optimistic about job prospects and personal finances globally, according to a survey by consultancy firm Nielsen. According to the Nielsen Global Consumer Confidence report, 92 |
white mischief
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EIL FPO price band at Rs 270-290
THE GOVERNMENT on Sunday set Rs 270-290 as the price band for the follow-on public offering of state-run Engineer India Ltd. A group of ministers headed by the finance minister, Mr Pranab Mukherjee, s |
EGoM meet on gas deferred
A MEETING of the empowered group of ministers (EGoM) on natural gas has been put-off by a day to July 28 due to the visit of Myanmar's ruling military junta leader. "The EGoM meeting was scheduled for |
Mining sector growth to slow down
INDIA'S MINING sector is likely to see a slowdown in growth to 8 per cent this fiscal, even as the overall economy is poised for higher growth, the Prime Minister's Economic Advisory Council (PMEAC) h |
RBI likely to hike rates on Tuesday
: A rate hike by the
Reserve Bank of India on Tuesday seems a foregone conclusion. However, it may not lead to a immediate jump in deposit and lending rates of banks. India's central banker has a |
RBI hints at taming inflation
The Reserve Bank
of India (RBI) is confident that the measures it will take on Tuesday during the review of the monetary policy will bring down inflation. The finance minister, Mr Pranab Mukherje |
AI not to trim salaries, jobs
State-owned carri
er Air India will not be cutting either salaries or jobs as a part of its turnaround plan, the union minister of state for civil aviation Mr Praful Patel said on Sunday. The gove |
Forbes judges Nooyi inspiring
: India
born head of PepsiCo, Indra Nooyi and author Arundhati Roy have been named by Forbes among the world's 30 most inspiring women, a list that also features Mother Teresa, Oprah Winfrey and Hill |
money talk
Tax form depends on your income sources
IT'S THAT TIME of the year when the taxman is remembered the most. With just a few days left, tax payers have now woken up to the reality that the due date is fast approaching. The major area of co |
media watch
TME has bagged the mandate for managing media requirements of Allied Blenders & Distilleries Pvt. Ltd. (ABD), Mumbai in a multi-agency pitch.
The business is pegged at around of Rs 15 crore.
|
FUTURES & OPTIONS
ROBUST VOLUMES were seen in the derivatives segment. Open interest of the market has crossed Rs 1,70,000 crore. Nifty PCR has increased to 1.47 indicating addition of short positions. Good roll over o |
Cocoa bitter for choco makers
To some, he is a
real-life Willy Wonka. To others, he is a Bond-style villain bent on taking over the world's supply of chocolate. In a stroke, a hedge fund manager here named Anthony Ward has al |
MARKET KHABAR
FIIs, economic growth to propel markets this week
BUOYED BY positive global cues, changes in takeover code and good earnings from banking, auto component and capital goods sectors, Indian markets extended gains for the third straight week. The BSE |
STOCK SCAN
Astral Polytechnik primarily manufactures chlorinated poly
Astral Polytechnik primarily manufactures chlorinated poly vinyl chloride (CPVC)/PVC (lead free) pipes and fittings. The company has lau |
Tablets on the scanner
Samsung Q1 Ultra remium
India-made 3G tablet
EVEN WHILE Apple iPad is the unbeaten market leader among internet tablets, the country has got its first India-made 3G-enabled tablet -OlivePad. The seven-inch wide t |
BHEL net profits up at Rs 668cr
STATE-RUN power equipment company BHEL on Friday reported 42 per cent jump in its net profits for the quarter ended June 30, at Rs 667.7 crore from Rs 470.6 crore in the same period last fiscal. The n |
JSW mulls hydel plants in HP, Sikkim
APPEARING BULLISH on alternative sources of power, JSW Energy is mulling setting up three new hydel plants in Himachal Pradesh and Sikkim. "We are currently doing due diligence to set up three plants |
SFL net profit at Rs 58.8 cr
CHENNAI-BASED NBFC Sundaram Finance Limited (SFL), has registered a net profit of Rs 58.80 crore for the first quarter ended 30th June 2010. However, the net profit figures for Q1FY11 and Q1FY10 are n |
Tata Steel raises Rs 1,069 cr
TATA STEEL on Friday said it has raised as much as Rs 1,069 crore through issue of securities to its promoters Tata Sons. "The committee of directors at its meeting held on Friday has approved the all |
EU seeks hike in defence FDI cap
STEPPING UP THE HEAT
The ambassadors
July 23: The ambassadors from the European Union (EU) are batting for increase in foreign investment cap in the defence sector. "India benefits from lifting the FDI cap because yo |
ITC rules out hostile bid for EIH
ITC Limited
July 23: ITC Limited chairman Y. C. Deveshwar on Friday ruled out any possibility to make any hostile bid for hospitality players like EIH Limited and Leela Venture, which runs the Leela |
IT firms gear up for attrition
Even as IT firm
July 23: Even as IT firms gear up for the economic recovery, they now face an inevitable result of better times - employees leaving for better prospects, which the industry calls as |
Wipro to promote 20,000 employees
Helped by a lower
July 23: Helped by a lower tax rate, tech major Wipro Limited reported a better than expected net profit of Rs 1,319 crore - up 9.2 per cent over the previous quarter. Turnover for |
yes boss
|
QUESTIONABLE PAYOUTS
Federal report faults banks on huge bonuses
: With the financial
July 23: With the financial system on the verge of collapse in late 2008, a group of troubled banks doled out more than $2 billion in bonuses and other payments to their highest |
REPORT CARD
RPG flagship firm posts Rs 110cr net
The CESC
July 23: The CESC Limited, the RPG Group's power flagship is planning to enter into the solar energy sector in a big way. The company has decided to generate 200 MW solar power at an invest |
