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Reserve Bank of India governor Duvvuri Subbarao reiterated his concern about inflation on Monday, saying it remained above the central bank's comfort level, and called monetary policy the first line of defence even when inflation was coming from supply shocks. Subbarao said wholesale price inflation...

Debt-laden telecoms carrier Reliance Communications is seeking shareholders' approval to increase its authorised share capital to Rs 2,500 crore from Rs 1,500 crore currently, it said in a notice for its annual general meeting. "The company, in order to meet its growth objectives and to strengthen i...

Shares in Tata Motors fell more than 3 per cent on Friday after the Indian auto maker missed estimates with its first-quarter results and forecast lower sales for its key Jaguar Land Rover subsidiary. Credit Suisse downgraded Tata Motors to "underperform" from "neutral", after cutting its volumes fo...

Shares in Cairn India fell sharply Thursday on news that the company's managing director and CEO Rahul Dhir has resigned from the Vedanta group firm. Mr Dhir has been the face of the company in India. He is credited with the success of the Cairn India initial public offer (IPO) in 2006. 46-year-old ...

Bharti Airtel shares dropped to a two-year low, extending a rout after banks including Goldman Sachs and Standard Chartered downgraded their ratings for India's top telecoms carrier following its poor earnings results this week. Goldman Sachs downgraded the stock to "neutral" from "buy" with a revis...

Apollo Tyres will invest Rs 300 crore in its Kalamassery unit in Kerala in the next two years and make it an export unit for industrial tyres. "We have intentions to see how we can grow further. We are in the process of identifying greenfield projects in Eastern Europe. We are also looking at opport...

Bharti Airtel, India's biggest mobile phone carrier by subscribers reported its 10th straight quarter of profit decline as competition squeezed margins despite gaining subscriber market share from some of its smaller rivals. Quarterly net profit slumped 24 per cent at Rs 762 crore against Rs 1,006 c...

Asian stock markets rose Wednesday, buoyed by more positive employment data out of the U.S. and expectations that central banks in the U.S. and Europe may take steps to support their respective economies. The U.S. Labor Department said employers posted the most job openings in four years in June, a ...

It was a day of milestones for the stock market. Stronger corporate earnings reports and expectations that central banks will act to support the economy powered the Standard & Poor's 500 index past 1,400 for the first time in three months. The index rose 7.12 points to close at 1,401.35 on Tuesday. ...

For India's healthier airlines, the worst is behind them as drastic flight cuts by embattled former No.2 Kingfisher Airlines enables the others to raise ticket prices. Market leader Jet Airways and third-placed SpiceJet, which unexpectedly reported quarterly profits last week, were upgraded by Bank ...

Drug makers Aurobindo Pharma and Glenmark have received the US health regulatory approval to manufacture and market generic montelukast sodium tablets used for treating asthma and allergies. The two firms would immediately commence distribution of the product in the US market. The annual sales of mo...

UBS has added Sun TV and Dr. Reddy's to its Indian model portfolio, but removed Sun Pharma and Hero MotoCorp, the investment bank said in a note on Monday. The bank said the fiscal 2013 outlook for Dr. Reddy's is "strong", driven by the continued expansion of its U.S. business, whereas Sun Pharma ha...

Shares in MCX and Financial Technologies India gained Monday after the MCX Stock Exchange (MCX-SX) received approval from the Securities and Exchange Board of India and the Reserve Bank of India to launch currency options on its platform. At 1.32 p.m., MCX traded 2.5 per cent higher at Rs 1,079.45 o...

Tractor maker Mahindra & Mahindra shares fell 1.7 per cent as the growing likelihood of a drought in India threatens to hit rural sales. Mahindra & Mahindra already saw tractor sales fall 2.4 per cent from the previous month and 4.5 per cent on a year-to-year basis. Two-wheeler makers are also seen ...

The rupee fell to a one-week low in early trade on Friday as global risk assets retreated after the European Central Bank indicated willingness to buy government bonds but set conditions that disappointed markets. The cuurency again breached the 56-mark by losing 31 paise to 56.15 against the US dol...

Investors cheered U.S. private equity firm Bain Capital Partners' move to buy a 30 per cent stake in technology outsourcing services provider Genpact Ltd, sending its shares to their highest in nearly two years. Bain Capital, co-founded by U.S. presidential candidate Mitt Romney, will pay about $1 b...

Shares in drug major Cipla soared over 6 per cent Wednesday on the back of robust June quarter. Cipla said net sales jumped 23 per cent year-on-year at Rs 1,958 crore against Rs 1,591 crore. Quarterly net profit jumped 58 per cent yoy at Rs 401 crore over Rs 253 crore last year. The domestic formula...

Tiruchirapalli: IT firm iGATE has said it is targetting USD 900 million revenues over the next five years from iTOPS (integrated Technology and Operations) business that will be the key growth driver for it in the coming years. Overall, the US-based firm is looking at USD 3 billion revenues by 2017,...

If liquor baron Vijay Mallya's Kingfisher Airlines fails, lenders owed $1.4 billion may end up with a small stake in his spirits business, a modest office building, the carrier's brand, and not a lot else. A $16 million beachfront villa in Goa, where Mallya throws parties and shoots his Kingfisher s...

The rupee reversed earlier losses to gain to 55.42/43 on Monday versus its previous close of 55.33/34 on the back of dollar demand from oil firms in the last days of the month, traders say. USD/INR may gain towards 55.50 during the session, traders say. Oil is India's biggest import and demand from ...

While most analysts expect the market to remain weak at least in the short term, Ramesh S. Damani, member, BSE, feels that the market may rally 8-10 per cent from the current levels. “Markets are likely to sustain the support levels. I would prefer to remain invested,” he said in an interview to NDT...

ITC, India's largest cigarette maker, has reported in-line numbers for the June quarter. Quarterly net profit soared 20 per cent to Rs 1,602 crore against estimates of Rs 1,577 crore. The company had posted a net of Rs 1,333 crore in the corresponding quarter last year. Sales, excluding excise dutie...

Biocon, India's top listed biotechnology company, reported weaker-than-expected numbers in April-June quarter. Profit after tax (PAT) rose 12 per cent at Rs 78.8 crore versus Rs 70.1 crore on a year-on-year basis. The company’s sales stood at Rs 576.7 crore, up 30 per cent, versus Rs 443.5 crore in ...

State-run insurance giant Life Insurance Corporation (LIC) and Government of Singapore have hiked their stake in Reliance Industries with the purchase of shares worth over Rs 1,550 crore during the past quarter. LIC increased its stake in Mukesh Ambani-led Reliance Industries (RIL) from 7.09 per cen...

Reliance Industries on Friday reported net profit of Rs 4,473 crore, against estimates of Rs4,364 crore for the quarter ended June 2012. That number translated to a 21 per cent fall, making this the third straight quarter that it has seen profits decline. The company had profits of Rs 5,661 crore in...

Reliance Communications on Friday put on hold the $1-1.5 billion initial public offering of its undersea cable unit Flag Telecom in Singapore in the wake of adverse market conditions. The IPO was put on hold on a day when institutional book building was to close, sources said. RCom was looking at li...

Reliance Communications (the “Company”) had earlier announced that it was evaluating a potential initial public offering and listing in Singapore of its subsea telecommunications infrastructure network business (known as Flag Telecom), through a Singapore business trust. On July 05, 2012, the busine...

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