Business Ideas
JP Morgan Asset Management today announced the promotion of Christopher Spelman as the chief executive officer (CEO) of its India business and the appointment of Nandkumar Surti as the chief investment officer (CIO).
Saturday
FIIs back in the game, buy shares worth Rs 769 crore.
The markets have recovered partially. The Sensex is now down 147 points at 16,160, and the Nifty has shed 46 points at 4,822.
The market crashed in the last two sessions with the Nifty bouncing from 4,955 level to close at 5,036 points for a week-on-week loss of 4.12 per cent. The Sensex was down 3.96 per cent, closing at 16,859 points. The Defty closed 4.93 per cent down as the rupee slid. Declines far outnumbered advances and volumes increased as prices fell. The broadbased BSE 500 dropped 4.3 per cent while the Midcap index dropped 5.4 per cent and the Junior was down 3.8 per cent. Domestic institutional investors were net buyers but FIIs sold heavily.
Declines to 9.35% in April-September from 17.23% in the same period of last year.
Is the Doha Development Round (DDR) dead, as the anti-globalisation activists claim? Not yet, said trade ministers of the 153 member-countries of the Word Trade Organisation at the seventh Ministerial Conference at Geneva last week. They ended the Conference with a general agreement to recommence the stalled negotiations of the DDR and take it to conclusion by the end of next year. Even such broad agreement was in sharp contrast to the acrimony and bitterness that characterised the earlier failed trade talks at Cancun and Hong Kong.
Sobha Developers, the Bangalore-based realty player, is set to raise another Rs 250 crore by selling a little over 100 acres of its land in Pune. The company has been making headway to settle a part of its Rs 1,900 crore debt by selling part of its 3,000-acre land bank spread across the country. Sobha recently raised close to Rs 530 crore through the Qualified Institutional Placement (QIP) route. With a debt of Rs 1,900 crore, the company was leveraged 1.6 times and it is understood that a part of the proceeds from QIP is being used to settle a part of that.
As with all the bad news from Iraq and Af-Pak, sooner or later the bad news on the climate acquires a stultifying sameness. Only when a surge is in sight — troop surge, storm surge — does one’s news radar jolt awake momentarily. The cause of this deadened state is not an unassimilable surfeit of information, rather, it is a shortage of the right sort of information. Despite the barrage of news and opinion, we don’t know enough to figure out what the right questions are. Without that foundation, our knowledge rests on a bog, into which it is liable to settle with a gentle burp or two of greenhouse gas (or, hot air).
Amid rising optimism for the future of their businesses, India Inc still remains cautious about hiring in the January-March period, a survey by leading staffing firm TeamLease Services said.
Describing the food inflation a "temporary phenomenon", the Planning Commission has said that the prices of various food items will decline towards the month-end and that the economic growth during the year would exceed 7 per cent.
Business Standard / New Delhi November 12, 2009, 0:04 IST
The Centre may give sops to drug exporters for shipments to Africa and Latin America through a route that would avoid passing through Europe, while it prepares to drag the EU to the World Trade Organisation (WTO) over seizures of consignments of Indian pharma companies.
New Delhi today cautioned against countries taking protectionist measures to safeguard their economies saying trade barriers can diminish growth and create instability.
Paris, Sept 16 (AFP) British Prime Minister Gordon Brown expressed confidence that an agreement would be reached at next week"s G20 summit after talks with French President Nicolas Sarkozy, who wants to curb bankers" bonuses.
The unemployment rate in the 16-nation euro zone soared to a ten-year high of 9.6 per cent in August, as the region continued to feel the tremors of the financial turmoil.
Ahead of the Reserve Bank of India’s credit policy review amid surging inflation, leading private bank ICICI Bank today foresaw no immediate increase in interest rates.
Power trading company PTC India today reported a decline of 33 per cent in net profit at Rs 15.8 crore for the third quarter ended December 31, 2009.
BMW and Mazda lead the way in cutting auto emissions, well ahead of their rivals in the hunt for cleaner cars as new European Union targets begin to bear green fruit, a report showed today.
Yahoo! News has emerged as the top destination for news in India on the web and Times of India the most engaging local brand news site with maximum visitors, reveals a study.
Trades between FIIs generated a volume of Rs 146 crore on the BSE Thursday-an increase of 390.63% from Rs 30 crore clocked on Wednesday. As many as four stocks witnessed trades of 13 lakh shares on Thursday.
Business Standard / New Delhi December 25, 2009, 0:36 IST
India"s exports grew over 18 per cent to touch $13.2 billion in November, reversing the downtrend seen in the past 13 months in a row due to shrinking in demand in major western markets.
South Korea will host a world financial meeting ahead of a G-20 summit later this year as part of its efforts to help promote global financial stability, the country"s financial regulator has said.
Bank reform: The overhaul of the global financial system has entered a new, more complicated phase. For two years, a fragile multilateralism has prevailed as the world’s largest economies agreed that changes should be designed and adopted on a global basis. The task of redesigning financial regulation was largely delegated to central bankers, regulators and other technocrats.
With five more entities folding up, the total number of American bank failures has touched nine in 2010.
The spiritual leader of Tibet, the Dalai Lama on Wednesday expressed concern over the global warming and its impact on the Himalayan Kingdom.
Sidhartha / Mumbai January 12, 2010, 0:22 IST
Women continue to play regressive roles on the small screen
OPEC oil producers gathered in poverty-stricken Angola today said they would hold output firm amid comfortably high prices at their first ever meeting hosted by Africa"s new crude-pumping giant.
The government is in the final stages of setting up an Empowered Nodal Group which could act as a single point authority for disbursement of news in the event of major crisis like Mumbai terror attack.
The small screen reality show, My Fan My Hero, starring Bollywood biggies has got sponsors vying for ad slots.
Big Bazaar, the hypermarket of Pantaloon Retail, has come out with a breakfast cereal range under its private label, Tasty Treat. Big Bazaar already sells noodles, pasta, vermicelli, soups, namkeens, chips, toast, khari, papads, jams, pickles, carbonated drinks, ketchup and fruit beverages under the brand. It has now added breakfast cereals to the range.
Prime Minister Manmohan Singh will inaugurate the 92nd conference of the Indian Economic Association (IEA) at the city-based KIIT School of Management on Sunday in the presence of the state chief minister Naveen Patnaik.
The government might consider selling fewer bonds in the year ending March after announcing expenditure cuts yesterday, Finance Secretary Ashok Chawla said.
Stock broker Ketan Parekh, alleged mastermind of the securities scam of the 1990s, has moved the Supreme Court seeking permission to travel abroad for the treatment of his daughter.
Four more people succumbed to swine flu today as 197 fresh cases of the disease were reported from across the country.
What you need to flaunt this season are touchscreen phones that are smart and sassy.
Consumers now have a wide variety of choices available in the market for a state-of-the-art digital camera that’s compact in size. Practically every brand is competing on megapixels and in looks too in this segment. Here is our pick of the best compact digital cameras for young adults, parents with young children and compulsive picture takers. Don’t be fooled by their diminutive looks - these babies have enough megapixels to portray in detail your picture-perfect moments.
Korean electronics giant, LG India, expects to close the current fiscal with Rs 14,000 crore in revenue, a growth of about 25 per cent over the previous year.
Consumer durables major LG Electronics today said it will invest Rs 25 crore in promotional activities of its home appliances during the festive season, as it targets a 30 per cent share in the segment by next year.
The Auto index was up 1% at 7,316.
Barun Roy / New Delhi December 17, 2009, 0:59 IST
General Motors, the fifth-largest car manufacturer by domestic sales, unveiled the all new Chevrolet Cruze diesel model in the capital today, with an aggressive introductory price ranging from Rs 10.99 lakh to Rs 12.45 lakh (ex-showroom, Delhi).
Here’s a list of the show’s snazziest and sleekest as you breeze through the event.
Pharma companies in Andhra Pradesh say they are losing heavily due to the Telengana unrest in the State.
South Korean steel giant Posco has finally got the clearance from the Environment Ministry for acquiring forest land for its proposed Rs 54,000-crore steel project in Orissa, which has been already delayed more than a year.
Cotton exports from India, the second-biggest grower, will more than double this crop season as China and Pakistan seek more fiber to make up for a shortfall in supplies from the US, a government official said.
In the first faint signs of rapprochement since Tata Motors withdrew its iconic Nano small project from West Bengal last year, Chairman Ratan Tata said he would return the land in Singur if the West Bengal government compensated the company for the investment it made at the site and was open to considering an alternative project there.
The market could test 5,300 going into the December settlement
After much dilly-dallying, the ‘Passport Seva Project’, which aims at expediting the process of issuance of passport by digitising the passport services, would be rolled out by early 2010.
Gold imports fell by 50 per cent in June compared to the same period last year due to slowing demand amids a rise in prices.
Shivani Shinde / Mumbai September 24, 2009, 0:36 IST
Tata Consultancy Services, a leading IT services, business solutions and outsourcing firm, announced the opening of a new Global Delivery Centre in Buenos Aires, Argentina - the first company to officially inaugurate its facilities in the new Technology District of the city of Buenos Aires.
In order to meet the demand for three million cubic metre of wood annually by approximately 5,000 wood-based industries in the state, Punjab Forest Minister Tikshan Sud has directed the department to work out on every possibility to plant thirty million plants for this purpose in the state.
In order to cash in on the rising festive demand, the World Gold Council (WGC) today said it has tied up with leading retailers across five cities in India, to organise a gold festival named "The Great Indian Gold Rush" from September 19 to October 19.
India"s largest asset reconstruction company Arcil today said it is 30 per cent short of its target of buying bad debts worth Rs 1,800 crore from banks and financial institutions so far this fiscal.
The stock markets rose sharply on Monday on the back of strong gross domestic product (GDP) numbers and firm global cues. The Sensex closed at 16,926, higher by 294 points, and the Nifty re-gained the 5,000 mark to close at 5,026, up 84 points, on a steady day of trade. The Sensex had surpassed the 17,000 mark (17,096) in intra-day trades.
Fears of an imminent price rise, production spillovers owing to spare parts shortages plus a low base effect saw sales of the country"s major car makers grow a record 63 per cent in November.
The country’s largest carmaker, Maruti Suzuki India (MSI), today said its exports are expected to achieve the 100,000 units mark in the current financial year (2009-10).
Car market leader Maruti Suzuki India Limited is testing its cars on the CNG platform before launching them commercially in the next 2-3 years.
Maruti Suzuki, the country’s largest manufacturer of cars, is also quite cash-healthy, markedly so in comparison to many of its competitors.
The boundary between a television set and a computer is blurring. Consider Zenith Computer-promoted Vu Technologies’ offering, the Intelligent TV, which is a television-cum-PC with a Microsoft Windows operating system (OS).
Although Smart Portfolios kicked off on September 1, 2009, it feels good to end the calendar year on a cheerful note. The net returns in the second season are at the highest point currently. The benchmark S&P CNX 500 portfolio value has appreciated by 12.73 per cent to Rs 11.27 lakh as against its starting corpus of Rs 10 lakh. Ajay Parmar and Amar Ambani continue to outperform the benchmark with a wide margin. While the former"s return has zoomed 20.46 per cent, the latter"s portfolio value has soared nearly 19 per cent. Phani Sekhar has reported gains of 6.72 per cent so far, and Praveen Panjwani"s net worth is up by 6.3 per cent.
Brushing aside government"s stand that Formula One is not a sport, F1 supremo Bernie Ecclestone today said the foundation stone of the race track in India would be laid in October for the showpiece event next year.
Business Standard / New Delhi January 16, 2010, 0:54 IST
Prime Minister Manmohan Singh has assured Sri Lankan President Mahinda Rajapaksa of all support for resettlement of the Tamil civilians, displaced due to fighting between security forces and the LTTE in the north.
Buys US rights for Oscient Pharma"s Antara.
The government will take stock of Bharat Sanchar Nigam"s (BSNL) poor financial showing - wherein net profit fell to Rs 104 crore in FY09 compared to over Rs 3,000 crore a year ago - and also talk to the management for selling government stake in the telecom company.
The state-owned telecom service provider Bharat Sanchar Nigam Ltd (BSNL) is planning to seek exemption from paying licence fees, stating a clause under the National Telecom Policy of 1999 (NTP ‘99). At present, the company pays around Rs 3,000 crore per annum as licence fee to the exchequer.
The Sensex is exhibiting firmness and is now at 17,708, up 149 points. The NSE Nifty is at 5,280, up 48 points.
The Nifty futures moved in a narrow band and closed higher at 5,239 on poor volumes in both cash and derivates segments. The trading volume in Nifty January futures declined to 11.86 million shares from around 42 million shares on the first day of the December series. It is difficult to predict the market movement in the near future due to extremely poor volumes. However, the intra-day trading pattern in Nifty futures and options suggested that traders booked profits while bears built short positions at higher levels.
In order to cash in on the rising festive demand, the World Gold Council (WGC) today said it has tied up with leading retailers across five cities in India, to organise a gold festival named "The Great Indian Gold Rush" from September 19 to October 19.
In order to cash in on the rising festive demand, the World Gold Council (WGC) today said it has tied up with leading retailers across five cities in India, to organise a gold festival named "The Great Indian Gold Rush" from September 19 to October 19.
Anil Ambani group firm Reliance Infrastructure today reported a net profit of Rs 316.57 crore for the first quarter ended June 30, 2009, up 25.35 per cent over the corresponding period last fiscal.
Telecom service provider Tata Communications today said it has launched its new mobile video telephony service for mobile operators and international carrier customers.
Offers 2,000 acres in Pune’s Saswad taluk.
Indian stocks trading on American bourses added about $10 billion to their combined market valuation past week, with IT major Wipro accounting for $2.65 billion to the total gain.
US markets rose in light volume on Friday to achieve a second straight week of gains as strong retail news reinforced hopes for strong sales in the holiday season.
Power producer Jindal Power Ltd (JPL) is planning to raise about Rs 10,000 crore through an initial public offering.
"Power" seems to be the buzzword when it comes to big-ticket IPOs.
Luxury hotel chain operator Orient Express, in which Indian conglomerate Tata Group holds a significant stake, has reported a net loss of $24.3 million for the second quarter ended June 30, 2009.
Accountancy regulator Institute of Chartered Accountants of India (ICAI) today agreed to withdraw disciplinary proceedings against the Delhi branch of the audit firm Price Waterhouse (PW) in the multi-crore Satyam scam.
Should I buy the Maruti Suzuki Swift or the Ritz? I’d like to go for the petrol VXi model of either of these two. My daily travel is not more than 30 km maximum. Do you think I should go for a diesel instead?
Communications Minister A Raja today alleged that the Bharatiya Janata Party (BJP)-led NDA government had distributed free spectrum to operators in what he called “biggest ever scam” that deprived the exchequer of over Rs 1.6 lakh crore revenue.
The Nordic region (Norway, Denmark, Iceland, Finland and Sweden), which is now opening up to offshoring as a viable option to sustain its long-established competitiveness, offers an untapped $10 billion outsourced services opportunity for Indian IT companies, said a Nasscom-PricewaterhouseCoopers report.
Siemens, the German engineering giant, says it plans to expand its green energy portfolio to enable ¤25 billion (approximately Rs 1,74,339 crore) savings globally by 2011, with significant carbon dioxide (CO2) reduction from its products and processes in key markets, including India.
India ranks 49 among 133 countries in 2009-10 in the global competitiveness index (GCI) prepared by the World Economic Forum (WEF), an improvement of one position from last year. India’s position is a result of mixed performance across 12 categories covered by the GCI.
State-owned NTPC today said it has appointed a consultant for evaluation of a coal mine in Indonesia.
The stalemate over the Railways’ proposed coach factory at Singur is likely to continue with the West Bengal government on Tuesday indicating that it will wait for a firm proposal from the Rail Board before approaching its tenants for terminating the contract covering 997 acres at the former production site of the Tata Nano.
Amid increasing concern over financial health and rising operating cost, Railway Minister Mamata Banerjee is expected to table a white paper on the actual condition of the PSU on December 21, the last day of the winter session of Parliament.
System integration firm Teracom today said it has bagged a Rs 12.6 crore broadband services deal from the Indian Railways.
It’s never easy to be in public domain. Members of Parliament (MP) cutting across party lines have realised that. Madhusudan Mistry, a Congress MP from Gujarat, gave his mobile number to the voters of his constituency. “Even in the middle of the night, people, evidently drunk, used to call me to solve their petty personal problems,” Mistry recalls.
Indian-American Anil Kumar, an accused in one of the the largest insider trading scam in the US, has agreed to waive indictment in the Galleon Hedge Fund case, in an indication that he might plead guilty as per a deal struck between him and the prosecutors.
The controversy surrounding "3 Idiots" has taken a new turn with Chetan Bhagat, the author of the book from which the movie has been adapted, accusing the filmmakers and actor Aamir Khan of not giving him due credit.
Bilcare ended at Rs 512, lower by Rs 2 or 0.3%, on the BSE.
The Nifty closed below 5,000 on Friday due to unwinding of long positions and fresh shorts build-up by foreign institutional investors (FIIs). We had indicated in our December 10 report that the index might not hold the 5,000 level in near future. Technically, the market is trading in a bearish triangle pattern and fresh correction is expected next week with strong support around the 4,900 level. The daily Relative Strength Index has drifted below the mean level of 50, indicating caution. Any failure to rise from the current level could see the index drift lower to test the 4,940 level.
The Life Insurance industry paid 20.74 per cent higher death benefit to its policy holders at Rs 1,717 crore during the first quarter of the current fiscal.
India’s life insurance sector is expected to grow by almost 15 per cent in the current financial year and touch a total premium income of Rs 2,55,000 crore (about $ 50 billion).
The life insurance industry has paid around Rs 1,717 crore as death benefit to policy holders between April and June 2009 compared with Rs 1,422 crore during the corresponding quarter last year (an increase of 20.74 per cent), according to Life Insurance Council, the body governing life insurance companies in India.
The promoters of Aegon Religare Life Insurance today infused fresh capital of Rs 70 crore into the company taking the total base to Rs 465 crore.
The Citigroup may cut a deal with the US government today that will allow it to repay the bailout fund the financial entity had received at the height of the global financial crisis, says a report.
India today announced it has designed a new version of Advanced Heavy Water atomic reactor which will use lesser low enriched uranium along with thorium as fuel and having next generation safety requirements.
Quick service restaurant chain Domino"s Pizza is now aiming to tap ready-to-eat pasta market to increase footprints in the estimated Rs 2,500 crore Indian organised food business.
Corporate Affairs Minister Salman Khurshid today opined that India Inc should focus on CSR activities in their own interest.
The assets under management (AUM) of mutual funds in the country have increased to Rs 8 lakh crore at the end of November, mainly propelled by bulk inflow into debt schemes.
The government should bring petrol and diesel under a uniform VAT structure of 8 per cent as the variation in state tax was putting additional burden of taxation, industry body Assocham today said.
Treasury receipts much better than this time last year.
The country"s top mutual fund houses, including UTI Mutual Fund, are keen to join National Stock Exchange"s new mutual fund service system (MFSS), which will be launched tomorrow.
Is the Doha Development Round (DDR) dead, as the anti-globalisation activists claim? Not yet, said trade ministers of the 153 member-countries of the Word Trade Organisation at the seventh Ministerial Conference at Geneva last week. They ended the Conference with a general agreement to recommence the stalled negotiations of the DDR and take it to conclusion by the end of next year. Even such broad agreement was in sharp contrast to the acrimony and bitterness that characterised the earlier failed trade talks at Cancun and Hong Kong.
Will use funds to finance operations of group firms; to have a total war chest of Rs 10,500 crore.
While the battle lines for folding the Forward Markets Commission into Sebi have been drawn — and good luck with that — I believe that there is a more important, and easier, battle that needs to be fought as well. This has to do with the evolution of the corporate bond market. No less an authority than the prime minister has acknowledged that this is a crucial piece of India’s development and I have little doubt that you are already working with RBI on how best to turn this need into a reality.
Business Standard / New Delhi November 06, 2009, 0:36 IST
With no takers for the sponsorship of the Indian cricket team, the Board of Control for Cricket in India (BCCI) is now looking at alternatives — either to go for re-tendering with a lower base price or renegotiate a contract with the Sahara group, which currently holds sponsorship till December.
Bajaj Hindustan erased its gains following news of the deal being called off. The stock ended absolutely flat at Rs 197. The counter witnessed trades of over 3.70 million shares.
Prices collapsed in settlement week with the Nifty dropping 5.7 per cent to close at 4,711.7 points. The Sensex was down 5.5 per cent, closing at 15,896 points. The Defty was down 6.8 per cent with the dollar bouncing from over-sold levels.
The ambiguity over availability of 3G (third generation) telecom spectrum would end soon, as the ministry of defence has agreed to release 25 MHz of 3G spectrum before December 8, paving the way for auctioning of all the four slots in every circle simultaneously. But, the successful bidders in the auction would be able to utilise the spectrum only after June 2010, despite the auction process happening on schedule in January.
The Empowered Group of Ministers (EGoM) on the auction of third generation (3G) spectrum will meet tomorrow to discuss the vacation of spectrum by defence forces.
The Telangana agitation has forced several companies including Bharat Forge, Lakshmi Mittal Group and NTPC-BHEL join venture to either put their expansion plans on hold or explore other states.Addressing the media here on Tuesday after a meeting with industry representatives, chief minister K Rosaiah said Bharat Forge, which planned to set up a nuclear power plant equipment unit at Nellore at an estimated cost of Rs 2,500 crore, was considering Gujarat.
Global private equity funds Temasek and Sequoia are understood to be advanced stages of finalising a combined investment of close to Rs 200 crore in Bangalore-based realty developer Prestige Estates Projects. This will be part of the pre-IPO placement, which Prestige will be executing ahead of its proposed public offer.
Government will support public sector banks to merge if they wanted, provided they fulfilled RBI and SEBI guidelines, Finance Minister Pranab Mukherjee said today.
The CBI has charged Satyam founder B Ramalinga Raju, his brother B Rama Raju and eight others with creating fictitious customers and siphoning off Rs 430 crores from the IT firm.
Amidst sugar prices touching Rs 44 a kg in the retail market, the government today said it is keeping a watch on the prices.
Mahindra Satyam, the new brand identity of Satyam Computer Services, has embarked on international expansion and as part of this, is expanding its global solution centre (GSC) operations at its 15-acre campus in Cyberjaya, Malaysia.
Amid reports that the Satyam accounting fraud could be as high as Rs 14,000 crore, nearly double of what was confessed by its founder B Ramalinga Raju, the government today remained tight-lipped and said the real amount would be brought before the court of law.
Satyam Computer Services’ founder-chairman Ramalinga Raju and his aides forged board resolutions and unauthorisedly got loans/advances of Rs 1,220 crore in the name of Satyam Computers from banks but this is not reflected in the accounting books, according to the supplementary chargesheet the Central Bureau of Investigation (CBI) filed on Tuesday.
JMM chief Shibu Soren was today sworn in as chief minister of Jharkhand for the third time at a ceremony which was skipped by top leaders of coalition partner BJP, and will take a floor test in the Assembly on January 7.
JMM chief Shibu Soren is all set to take oath as chief minister heading a five-party coalition in Jharkhand tomorrow, which will be the seventh dispensation in nine years since it became a separate state.
Commodity exchange ICEX made a business of Rs 2,559 crore in just four days after it went live on November 27, the market regulator Forward Markets Commission (FMC) said today.
Golden Tobacco today said its board will meet on December 1 for considering a proposal from Pramod Jain to acquire another 25 per cent stake in the Sanjay Dalmia-promoted company.
State-run National Aluminium Company (Nalco) today increased prices of aluminium by Rs 3,500 a tonne, a second hike for the prevailing month, citing improvement in the metals rate at the London Metal Exchange (LME).
Oil and Natural Gas Corporation (ONGC) has replaced Reliance Industries Ltd (RIL) with Repsol YPF SA, Spain’s biggest oil company, and Malaysia’s Petronas to bid for Venezuelan oil blocks next month.
The day-one of the 96 hour oil-blockade against Oil and Natural Gas Corporation (ONGC) in Upper Assam by the All Assam Students" Union (AASU) has passed off peacefully today without affecting much the operations of the company.
Bhushan Steel Ltd today signed a technical collaboration and marketing agreement with Sumitomo Metals, Japan’s third-largest steel producer. The two companies are also exploring the setting up of a joint venture for setting up a six-million tonne steel plant at Asansol in West Bengal.
Private sector power producer JSW Energy has fixed the issue price of its public offer at Rs 100 per share, at the lower end of its price band.
Delhi-based real estate company Emaar MGF plans to utilise over half of the amount it will raise through its initial public offer to repay part of its debt.
Religare aims to become one of the top financial services companies globally, and in double-quick time.
Amid reports that Indian corporate giant Reliance Industries (RIL) was mobilising funds for its acquisition, global petrochemical major LyondellBasell has said it has not yet received a final bid.
- Mastering money making - Don't be bold on gold - Getting rid of government controls - For the risk-takers - High on expectations - Commodity to the rescue
The rupee fell, reversing earlier gains, on speculation importers used the currency’s rise to a week’s high today to buy cheaper foreign exchange.
To meet concerns that hybrid debt failed to absorb losses.
The two security guards with bamboo sticks look on sheepishly as guests make their way through metal detectors and X-ray scanners at the Taj Mahal Hotel in Mumbai. Before entering the hotel, however, a rather stern looking man — presumably part of the hotel’s elite security force — was asking them the purpose of their visit.
Financial services entity Religare Enterprises expects to close its first Rs 600-crore private equity fund, launched in joint venture with UK-based Milestone Capital, by April next year.
State Bank of Mysore today announced that it plans to raise Rs 100 crore of Tier 1, or core capital, through Perpetual Debt Instruments.
The RBI clarification, issued on December 1, 2009, has allowed banks to include technical or prudential write-offs for calculating provision coverage for non-performing assets (NPAs) - mandated to be at a minimum of 70% by September 10. This has triggered a relief rally in bank stocks with reasonably higher NPAs or low provisioning which were underperforming the BSE Bankex (see Prodigal returns).