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Sunday, November 1, 2015

Aim of India

India needs to aim for 9-10% growth: Jaitley http://timesofindia.indiatimes.com/business/india-business/India-needs-to-aim-for-9-10-growth-Jaitley/articleshow/49614098.cms via @timesofindia

Wednesday, October 28, 2015

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Thursday, October 22, 2015

Diwali bonus! Nifty could rally 15% in Samvat 2072: Saravana Kumar

Samvat 2072 would be rewarding for companies on the basis of their strong fundamentals and investors embracing the bottom-up strategy can hope to reap superior returns, says Saravana Kumar, CIO, LIC Nomura MF. Excerpts from an exclusive interview with Kshitij Anand of EconomicTimes.com.

ET.Com: Foreign investors turned net buyers in October and have already pumped in close to Rs 17,000 crore in the Indian market. What is the sense you get about the trend of FII flows f ..

Read more at:
http://economictimes.indiatimes.com/articleshow/49491913.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Japan offers India soft loan for $15 billion bullet train in edge over China

NEW DELHI: Japan has offered to finance India's first bullet train, estimated to cost $15 billion, at an interest rate of less than 1 percent, officials said, stealing a march on China, which is bidding for other projects on the world's fourth-largest network.

Tokyo was picked to assess the feasibility of building the 505-kilometre corridor linking Mumbai with Ahmedabad, the commercial capital of Prime Minister Narendra Modi's home state, and concluded it would be technically and fina ..

Wednesday, October 21, 2015

Sugar stocks climb up to 9% as crushing season begins

NEW DELHI: Continuing their winning streak for another day, sugar stocks surged up to 7 per cent in Wednesday's trade as crushing season for cane in Uttar Pradesh and Maharasthra — the two biggest sugar-producing states in the country — is set to begin on time this year.

Sugar stocks have soared anywhere between 20 per cent and 80 per cent so far this month, as global shortages have helped commodity prices to rebound from a seven-year low, thanks to a strengthening El Nino weather patt ..

Wall Street little changed as healthcare stocks limit gains

US stocks were little changed on Wednesday as healthcare stocks resumed their slide for a second day, offsetting gains by General Motors and technology stocks.

The S&P 500's healthcare sector declined 1.08 per cent, while the Nasdaq biotech index fell 1.5 per cent.

Valeant Pharma's US-listed shares sank 20.8 per cent to $116.23, and were halted, after short-seller Citron Research released a critical report on the company.

Health insurers Aetna, Humana, Anthem and C ..

American Tower Corporation to buy 51% stake in Viom Networks for Rs 7,600 crore

NEW DELHI: American Tower Corp will buy a 51% stake in Viom Networks in the largest inbound M&A deal so far this fiscal, marking an end to the two year long discussion process that included three rounds of bidding between interested parties.

ATC Wednesday announced that it will pick up 51% stake, where the cash consideration would be around Rs 7,635 crore, valuing Viom at around Rs 22,000 crore, including debt. The company added that under the agreement, it "may acquire or be requ ..

RBI's Raghuram Rajan announced 50 bps rate cut ignoring majority advise of 25 bps rate cut

MUMBAI: The Reserve Bank of India governor Raghuram Rajan once again chose to ignore the majority of his advisor asking for a reduction in key policy rates of to 25 bps and went ahead with a steep 50 bps rate that ended up cheering the markets.

The RBI, cut its benchmark policy rate- the repo rate by 50 bps to 6.75% to kick start economic activity on September 29. Though six members recommended a reduction of the repo rate, only two of them suggested a steep reduction of 50 basis poin ..

Tuesday, October 20, 2015

Welspun India climbs 6% on proposed e-commerce portal in US

NEW DELHI: Shares of Welspun India, the largest exporter to the US home textile market and the third biggest manufacturer of such items, surged over 6 per cent in Monday's trade, as the company announced launching of an e-commerce portal for its US market and bullish revenue targets.

The development saw the scrip hit an intraday high of Rs 770.50, up 6.17 per cent.

The company, which has a 5 per cent market share in the $17 billion US home textiles market, making it the singl ..

Lenders to convert a part of Rs 3500 crore loan of Shiv-Vani Oil into equity

MUMBAI: Lenders of Shiv-Vani OilBSE -1.93 % & Gas Exploration Services would soon convert a part of their Rs 3500 crore debt into equity under the strategic debt restructuring (SDR) scheme. The company informed the stock exchange about SDR and increase authorised capital from Rs 230 crore to Rs 600 crore. Promoters hold 27% stake in the company followed by ICICI BankBSE -0.37 % with 9.88%, L&T Finance with 3.77% and Templeton Strategic Emerging Markets Fund holding 7.2% stake in the c ..

Lenders may reject NHAI fund to revive Rs 45,000 crore road projects: Ind-Ra

NEW DELHI: Government intervention of one time funding to revive languishing highway projects will be beneficial for about 50 projects worth Rs 450 billion but lenders may be hesitant for such assistance, India Ratings and Research (Ind-Ra) said today.

The Cabinet Committee on Economic Affairs (CCEA) last week approved one-time financial assistance for "physically incomplete and languishing" highway projects.

"The CCEA approval for one time financial assistance by National Hi ..

Scared of facing income tax officer? CBDT plans paperless I-T assessment over emails

NEW DELHI: Scared of facing income tax officer? In a major initiative to address tax harassment, the authorities plan to do paperless income tax assessment over emails.

The Central Board of Direct Taxes (CBDT) has rolled out a pilot project whereby e-hearing would be conducted in 100 cases.

"This would eliminate the necessity of visiting the income-tax offices by the taxpayers, particularly in smaller cases involving limited issues and where taxpayer is able to provide detail ..

Nestle up 3% on hopes of Maggi's return; analysts positive

Nomura maintains buy rating on the stock and believes that Maggi noodles should be seen on the shelves soon. It says that there would be a short-term impact on sales and profitability of the company for a few quarters, but the company should be able to fix the product and bring it back to the market.

Read more at: http://www.moneycontrol.com/news/buzzing-stocks/nestle3hopesmaggi39s-return-analysts-positive_3690761.html?utm_source=ref_article

Airtel sells 8,300 mobile towers in Africa for $1.7 billion

NEW DELHI: Telecom major Bharti AirtelBSE -0.55 % today said it has completed the sale of about 8,300 mobile towers in Africa for USD 1.7 billion (about Rs 11,000 crore), which will be used for reducing debt.

"As on date we have completed the sale transactions in seven countries for approximately 8,300 towers representing close to 60 per cent of the total tower base," Airtel said in a statement.

Bharti Airtel has around 14,000 mobile towers in Africa and has decided to exit ..

Profit booking drags Sensex, Nifty; metals melt, TCS leads

Bajaj Auto, Wipro and HDFC Bank fell 0.3-1 percent ahead of September quarter earnings due on Wednesday. A CNBC-TV18 poll expects muted quarterly performance for Bajaj Auto while HDFC Bank is expected to post 20 percent year-on-year growth in net profit and Net interest income for the quarter.

Read more at: http://www.moneycontrol.com/news/local-markets/profit-booking-drags-sensex-nifty-metals-melt-tcs-leads_3695921.html?utm_source=ref_article

Work on projects worth Rs 1,000 crore in full swing: Gift City

NEW DELHI: Global financial services hub Gujarat International Finance Tec-City (GIFT City) today said the work on four major projects worth Rs 1,000 crore has started.

Construction work on 1.6 million square feet of built up area (BUA) has begun with projects by Viridian RED setting up World Trade Center, Hiranandani Group, a Business Club and an Affordable Housing project, GIFT city said.

It added that these projects have a potential to generate around 12,000 jobs in coming ..

OPEC, non-OPEC experts to talk, but unlikely to cooperate on cuts

LONDON/DUBAI: A meeting of OPEC and non-OPEC oil market experts this week is unlikely to increase the prospect of joint co-operation on supply curbs or show much support for Venezuela's proposed price band, OPEC delegates and analysts said.

The Organization of the Petroleum Exporting Countries has invited eight non-member countries including Russia for talks on the market at its Vienna headquarters on Wednesday. OPEC's own meeting to set policy is not until Dec. 4.

Non-OPEC pr ..

Sunday, October 18, 2015

IPO-bound profitable IndiGo has negative net worth

NEW DELHI: No-frills carrier IndiGo's parent InterGlobe Aviation, which is gearing up for Rs 3,200-crore initial share sale, may be profitable, but its net worth has come down significantly in three months ended this June.

Remaining profitable for nearly seven years, InterGlobe, however, saw its net worth slip to a negative Rs 139.39 crore at the end of June 2015.

After a prolonged wait, InterGlobe -- which is running the country's most profitable carrier under the brand name ..

FPIs pour in Rs 17,000-crore in capital markets in October

NEW DELHI: After pulling out hefty funds from the capital market over past two months, foreign investors have turned net buyers in October so far and pumped in close to Rs 17,000 crore, buoyed by RBI's rate cut and positive macroeconomic data.

Most of the fresh capital has been infused in the debt markets.

The net inflow by foreign portfolio investors (FPIs) in the stock market stood at Rs 3,295 crore between October 1-16 while it read Rs 13,695 crore for the debt market, tra ..