PRICE EROSION Smartphone war hits vendor margins
An 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 inclu |
Apple becomes world's most valuable brand
: Global
technology major Apple tops the Forbes list of the 'World's Most Valuable Brands', ahead of giants Microsoft and Coca Cola. The Forbes Top 50 list of the world's most valuable brands, co |
Kotak hikes deposit rate by 0.5%
Private
sector lender Kotak Mahindra Bank on Friday has raised its deposit rates by up to 50 basis points (bps) across majority of the maturities, taking a cue from a cue from the Reserve Bank's mon |
political avatar
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BPCL Q1 net loss at Rs 1,718 cr
IMPACTED BY higher crude oil and product prices, BPCL on Friday reported a net loss of Rs 1,718 crore for the first quarter of fiscal 2011 as against net profit of Rs 614 crore in the same quarter pre |
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 |
Learn with DC
Insurers to settle row with hospitals
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 arrive at a common under |
BLOCKAGE Google blames China, retracts
: Google
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 blocked |
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's |
warm talks
|
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
inflation for the first time this year has dropped to the single digit. Food inflation, or the rate at which food prices are going up, came down to 9.67 per cen |
Noel moves up in Tata group pyramid
Mr Noel Tata,
managing director of Trent, the Tata group's flourishing retail arm and the stepbrother of Tata Group chairman Mr Ratan Tata, has been appointed as managing director of Tata Internat |
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 |
Higher margins push up Andhra Bank profit
July 29: Hyderabad-based state-owned lender Andhra Bank has reported a 25 per cent growth in net profit for the quarter ended June 30, 2010, on the back of robust growth in net interest income, lesser |
high growth
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Act or face fine: IRDA to insurers
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 the interest of policyhol |
SKS IPO subscribed 18% on day 1
THE RS 1,654-CRORE public offer of SKS Microfinance got subscribed 18 per cent on the opening day of the issue on Wednesday, with most of the bids coming in from institutional buyers. The IPO received |
SCORECARD ArcelorMittal jumps back into profit
ArcelorMittal posted a profit of $1.7 billion in April-June quarter but expressed concerns over the prospects for the next three months saying the dip in European and Chinese markets could impact the |
Bajaj IPO price band at Rs 630-660
FMCG major Bajaj Corp on Wednesday fixed a price range of Rs 630-660 per share for its IPO, which opens on August 2.
Bajaj Corp is coming out with initial public offer of 45 lakh shares of Rs 5 and |
NSE, LSE in pact over cross-listing
THE NATIONAL Stock Exchange (NSE) and London Stock Exchange (LSE) have entered into an agreement to explore the cross-listing of products, an official at the Indian exchange told News Wire18. The NSE |
EGoM skips Anil's plants
The
much-talked meeting of a ministerial panel on Wednesday skipped the discussion on allocating natural gas to the Anil Ambani Group power plants even as it asked the oil ministry to indica |
Blackberry to provide call records
In a bid to allow
Central intelligence agencies access communication of terrorist and anti-national elements using mobile phone services, the government is asking the makers of BlackBerry -Research |
Telcos face stiff security norms
The government
on Wednesday amended the telecom license which will now enable imposition of heavy penalty on mobile operators if they fail to ensure that the equipment and software being de |
Deposit rates all set to rise
The next few
weeks are likely to see banks hiking deposit rates even as the loan rates remain unchanged. A day after the Reserve Bank of India signalled banks to raise deposit and lending rates, HDF |
gung ho!
|
RIL, Essar eye BP Africa assets
BP Plc is in talks liance Industries
with Reliance Industries and Essar Group to sell its African retail assets that could be worth as much as $500 million, sources said on Wednesday. It was not |
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 upgr |
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 |
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 expectation |
BSNL needs partner, says outgoing CMD
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 performa |
future plans
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BP gets its first non-British CEO
Tuesday confirmed its chief executive, Mr Tony Hayward, was stepping down and would be replaced by executive director, Mr Robert Dudley, an American citizen, from October 1. Mr Hayward will receive |
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. Sun |
Centre eyes Rs 977cr from EIL
THE GOVERNMENT expects to mop-up Rs 977 crore from the 10 per cent disinvestment in state-run Engineers India Limited (EIL). "We expect to mopup Rs 977 crore from EIL disinvestment," the disinvestment |
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 |
Leyland sees BS3 push in vehicle sales
Commercial vehi
cle maker Ashok Leyland on Tuesday expects that customers will rush to buy vehicles before new emission norms were introduced in the country. "We envisage pre-buying prior to the i |
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 |
CUSHION
Basel group agrees to new banking guidelines
Central bankers
and regulators have reached an almost-unanimous preliminary agreement on new standards to reinforce the stability of the global financial system, adding to investor confidence in th |
SUPER REGULATOR
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. |
quarterly ritual
|
Poor margins hurt Essar Oil's profit
RUIAS-OWNED Essar Oil reported a net loss of Rs 70 crore for the quarter ended June 30 on account of a contraction in oil refining margins. The company earned $5.61 on every barrel of crude oil it tur |
HUL profit declines by 1.8% in Q1
RECORDING A 1.8 per cent drop in its profit to Rs 533.21 for the June quarter due to price wars with rivals and aggressive ad spends, FMCG major Hindustan Unilever on Tuesday said it may hike prices i |
results day
|
Sensex gets results shocker, dip 111 pts
Markets reacted
negatively to the first major disappointments of the results season. Shares of Maruti, Jaiprakash Associates and Indian Bank were hammered down severely on Monday. Engineers India wa |
forging ahead
|
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 |
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 |
Ramky gets orders worth Rs 1,052cr
HYDERABAD-BASED Ramky Infrastructure Ltd, the flagship company of the Ramky Group, has bagged eight projects worth Rs 1,052 crores. The projects spread over Karnataka, Madhya Pradesh, Andhra Pradesh, |
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
|
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 |
Prithvi Q1 profit dips by 51%
PRITHVI INFORMATION Solutions Ltd, a Hyderabad-based information and communication technology company, posted a 51 per cent decline in net profit at Rs 8.53 crore for the quarter ended June 30, 2010 c |
Singh bros discharge Fortis from Parkway
The duo of Mr
Malvinder Singh and Mr Shivinder Singh have done it again. Instead of engaging in a costlier multi-billion dollar take-over war with Malaysia's state investment company Khazanah Nasio |
political theatre
|
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 ne |
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 th |
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 anyt |
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 |
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 |
white mischief
|
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 Hi |
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 |
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 |
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 |
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 |
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 Mukherj |
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 gov |
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, 9 |
Tablets on the scanner
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 |
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 Wa |
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 |
BROKERS BYTES
Company: Dr. Reddy's Laboratories Broking House: Macquarie Price Target: Rs 1,500 Recommendation: Outperform
Dr Reddy's reported lower than expected sales and profits for the June quarter, says Macq |
