Bajaj Finance enters financing lifestyle business

Bajaj Finance Ltd has already invested to joint ventures in financing of furniture, home furnishings, fitness devices, expensive watches and others with 0% interest rate, according to Devang Mody, the Bajaj Finance Business Head for Sales.

Nokia under negotiations to put on sale Vertu biz

In the latest development, Nokia, the mobile phone manufacturing firm, has been under negotiations to put on sale its Vertu, its British luxury unit, which manufactures the most costly cellular phones globally.

TVS introduces latest Apache bike series

TVS Motor Company, a two-wheeler production firm based in Chennai, has already introduced this day their latest Apache RTR 2012 series, a market hit motorcycle, integrating aesthetic modifications.

Indian Bank slashes BPLR by 0.25 percent

In the latest development, the Indian Bank already made a cut by 0.25% for its BPLR or benchmark prime lending rate wherein it is set to take effect starting May 1, 2012.

Bank of India fixes Rs 4,500 crore for March internal NPA goal

The chairman as well as managing director of Bank of India, Alok Kumar Mishra, announced that they have already fixed the internal NPA goal worth Rs 4,500 crore for the month of March.

Rallis predicts 15-20% FY13 EBITDA margins

According to the managing director as well as chief executive officer of Rallis India, V Shankar, they have been looking forward to get 15-20% EBITDA margins for the entire financial year 2012-2013.

Everest Industries eyes better operating margins in Q1 FY13

The managing director of Everest Industries, Manish Sanghi, announced that there are many clients looking for building components and steel buildings as they aim to achieve better operating margins in the first quarter of the current financial year.

BSE Sensex soars 0.76% as market gains

The BSE Sensex jumped 131.47 points or 0.76% to settle at 17,318.81, its highest closing level since 20 April 2012. The index jumped 171.84 points at the day's high of 17,359.18 in early afternoon trade. The index gained 8.17 points at the day's low of 17,195.51 in early trade. 

The S&P CNX Nifty advanced 39.15 points or 0.75% to settle at 5,248.15, its highest closing level since 20 April 2012. The Nifty hit a high of 5,262.15 in intraday trade. The index hit a low of 5,201.45 in intraday trade. 

The BSE Mid-Cap index rose 0.69% and the BSE Small-Cap index rose 0.57%. Both these indices underperformed the Sensex. 

BSE clocked turnover of Rs 1671 crore. 

Positive 1173 Negative 1091 Unchanged 593 
From the 30 share Sensex pack, 21 rose and rest fell.

Lending rates reduced by 25 bps: Canara Bank

Canara Bank has made a reduction in base rate to 10 pct which is 25 bps which will start tomorrow, May 1, 2012, wherein it reduced further to 14.75 percent by 25 bps its standard prime lending rate.

Sony India eyes to obtain 45% market share in FY13

Sony India has been aiming to evolve as the leader in the nation’s digital still camera market wherein the target is to obtain 45% share in the financial year 2012-2013, according to Tadato Kimura, the firm’s General Manager for Marketing.

Wipro Consumer Care to introduce Glucovita

Wipro Consumer Care & Lighting or WCCL has been looking forward to introduce Glucovita, the firm’s glucose powder brand, in tablets, according to the firm’s Senior Vice-President Anil Chugh.

Infiniti Retail predicts Rs 250 crore worth revenues

Infiniti Retail, a firm that manages a group of Croma multi-brand electronics stores, has been aiming to attain revenues to the amount of Rs 250 crore, according to Ajit Joshi , its Managing Director as well as CEO.

IMF reduces 2012 GDP growth of India from 7% to 6.9%

According to the latest statement made by IMF, it has already decreased the growth prediction of India from 7% last January to 6.9% for the year 2012 while the headline inflation plunged to 6.89% last March.

Nomura surpasses market predictions for Q4 FY12 net profit

The leading investment bank of Japan, Nomura, announced that its net profit was at 22.08 billion yen for the last quarter of the previous financial year as against market predictions of 14.9 billion yen.

U.S. firms aims USD 8 billion defence contracts with India

Firms based in U.S. have been aiming to seal defence agreements with India which is worth USD 8 billion, according to the latest statement made by Nancy Powell, the U.S. Ambassador.

Suzlon Energy aims utmost USD 500 million bonds for debt repayment

Suzlon Energy, a wind turbine manufacturer, has been coordinating with foreign banks to accrue USD 300-500 million in overseas bonds to make debt repayment which will mature in the current year, according to its CFO.

Indiabulls Financial to merge with its housing finance unit

The CEO of Indiabulls Financial Services, Gagan Banga, announced that the firm is set to have a joint venture with its unit, Indiabulls Housing Finance, wherein its stockholders will invest Rs 451 crore in the firm.

BSE Sensex climbs 0.02% as market slightly grows

The BSE Sensex rose 3.58 points or 0.02% to settle at 17,134.25, its highest closing level since 25 April 2012. The index jumped 111.48 points at the day's high of 17,242.15 in early trade. The index fell 108.58 points at the day's low of 17,022.09 in afternoon trade, its lowest level since 25 April 2012.

The S&P CNX Nifty advanced 1.60 points or 0.03% to settle at 5,190.60, , its highest closing level since 25 April 2012. The Nifty hit a high of 5,223.05 in intraday trade. The index hit a low of 5,154.30 in intraday trade, its lowest level since 29 March 2012.

The BSE Mid-Cap index fell 0.11% and the BSE Small-Cap index declined 0.42%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2015 crore, lower than Rs 2208.98 crore on Thursday, 26 April 2012.

Positive 1023 Negative 1113 Unchanged 759
From the 30 share Sensex pack, 16 rose and rest fell.

Sasken Communication eyes improved outlook in last 6 months of FY13

The chief financial officer of Sasken Communication, Neeta Revankar, has been aiming to attain better outlook for the final six months of the financial year 2013-2013 following better EBITDA margins in the firm’s services and products ventures.

R Gopalan eyes FY13 to witness record-high FDI inflows

R Gopalan, the economic affairs secretary, made an announcement that he already looked forward for S&P to maintain for the nation its constant credit rating outlook as he predicts FY13 to witness record-high FDI inflows.

Hexaware eyes above 20% dollar return expansion in FY13

The chairman of Hexaware, Atul Nishar, made an announcement that the firm has been aiming at present to attain more than 20% dollar return expansion in the financial year 2012-2013.

Ashok Leyland aims to surpass auto sector expansion in FY13

Ashok Leyland has been looking forward to get the best result among other players in the auto industry in the current financial year, according to the firm’s CFO K Sridharan.

LNG climbs if prices goes up says Gujarat Gas

According to the latest statement made by the Managing Director of Gujarat Gas, Shaleen Sharma, the recurrent price increases for the industrial sector looms when LNG costs climb up.

Samvardhana fixes price range Rs 113-118 for IPO

Samvardhana Motherson Finance Ltd already fixed a price range Rs 113-118 per share for its IPO or initial public offering to accrue around Rs 1665 crore in the following week.

Barclays profit grows due to upsurge in investment banking

Barclays announced that it overshadowed the predictions with a profit growth of 22% in the first quarter from its unit in investment banking as well as a decline in bad-debts being offset with compensation growth for insurance mis-selling.

Air India eyes Rs 500 crore from leasing two top buildings

Air India has been aiming to lease out more or less 1.50 lakh sq. ft. office area at its Airlines House as well as Mumbai headquarters wherein it expects Rs 500 crore in retrun.

Oberoi Realty positive on FY13 outlook with healthy order book

Oberoi Realty announced that it has been very positive on its outlook in the financial year 2012-2013 with a total order book of Rs 1,500 crore, according to Vikas Oberoi, its chairman and managing director.

Gulf Oil to construct I.T. park in its Bangalore land

Gulf Oil, the car lubricant manufacturer, has been constructing an I.T. or information technology park venture in the firm’s land in Yelahanka, Bangalore with an area of 39.67 acres.

Strides Arcolab aims for Agila to achieve expansion in FY13

TS Rangan, the Group CFO of Strides Arcolab, announced that the firm is looking forward for Agila to achieve expansion in the financial 2012-2013 with 60% sales contribution.

IPO of Tribhovandas Bhimji Zaveri gets 1.09 times subscription

The IPO of Tribhovandas Bhimji Zaveri or TBZ, a jewellery retailing firm, worth Rs 200 crore already received subscription of 1.09 times as of the moment, according to the NSE information.

ONGC management gives nod to invest Rs 600 crore

Oil and Natural Gas Corp or ONGC, a government-run firm, announced that its management already gave the approval to invest Rs 600 crore for the construction of Western Periphery oil and gas deposits off the west coast.

Hindalco accrues Rs 3,000 crore thru private placement

In the latest development, Hindalco Industries, the flagship company of Aditya Birla group, announced that it already accrued Rs 3,000 crore by means of NCDs’ private placement.

Nivea to expand contact production

Nivea, a leading skincare firm in Germany, announced that it already expanded its contract production to satisfy increasing orders for its merchandise in India, according to its managing director in India, Rakshit Hargave.

Rabobank makes sale of stake portion in Yes Bank

The biggest retail banking firm in Netherlands, Rabobank, already put on sale a portion of its stake in Yes Bank, a private lending firm, for around USD 75 million.

Ranbaxy eyes better sales, profits in FY13

The Managing Director and CEO of the pharma firm Ranbaxy, Arun Sawhney, announced that they are looking forward to conclude the financial year 2012-2013 with improved sales as well as profits.

BSE Sensex dips 0.12% as market declines anew

The BSE Sensex shed 20.62 points or 0.12% to 17,130.67, its lowest closing level since 23 April 2012. The index gained 41.96 at the day's high of 17,193.25 in early trade. The index fell 67.24 points at the day's low of 17,084.05 in late trade.

The S&P CNX Nifty lost 13 points or 0.25% to 5,189, its lowest closing level since 29 March 2012. The Nifty hit a high of 5,215.60 and a low of 5,179.05 in intraday trade.

BSE clocked turnover of Rs 2385 crore, higher than Rs 2208.98 crore on Wednesday, 25 April 2012.

Positive 1140 Negative 1564 Unchanged 123
From the 30 share Sensex pack, 20 fell and rest rose.

SpiceJet eyes first global flight from Madurai airport

SpiceJet, a low-cost airline, is set to be the first carrier to have a flight globally originating from Madurai Airport upon the approval by the Civil Aviation Ministry of the recommendation for linking the city with Colombo, the capital of Sri Lanka.

Bajaj Auto to sell 100,000 Discovers monthly

According to the managing director of Bajaj Auto, Rajiv Bajaj, the firm announced that it eyes to put on sale 100,000 units of Discover monthly in the local market with a price of Rs 42,000 each.

Zensar eyes 15% volume, revenue growth in FY13

Zensar Technologies’ vice-chairman & chief executive officer, Ganesh Natrajan, announced that in the current quarter, the firm performed satisfactorily with an aim to grow 15% in volume as well as revenue in FY13.

Ranbaxy introduces Synriam medicine against malaria in India

Ranbaxy Laboratories, the leading medicine manufacturer of India by sales, announced that they already introduced Synriam, a medicine that can cure malaria, in India with expansion plan to market in Asian nations, Africa and South America.

Wipro eyes higher growth than market average in FY13

Wipro, the number three biggest software services provider of India, announced that it has been aiming to expand in the current financial year which is higher than the market average, according to its chief executive officer TK Kurien.

Orchid Chem receives US FDA approval for Olanzapine tablets

Orchid Chemicals and Pharmaceuticals announced that it already obtained the permission of US Food and Drug Administration or FDA for its abbreviated new drug application or ANDA for Olanzapine drug which is a generic edition of Zyprexa drugs of Eli Lily.

Cipla to introduce medicine against malaria in India

The chairman and managing director of Cipla, YK Hamied, announced that they are set to introduce DNDI, a medicine that can cure malaria, in India in cooperation with their alliance in Geneva.

HUL eyes to save 100 billion litres of water until 2015

Hindustan Unilever or HUL, an FMCG leader, announced that it has been aiming to save 100 billion litres of water in the nation until 2015 being a portion of its social awareness obligation.

ING Vysya eyes near 3.25% net interest margins in FY13

The managing director and chief executive officer of ING Vysya Bank, Shailendra Bhandari, announced that the firm obtained 39.52% net profit increase to Rs 127.4 crore in the previous quarter as it eyes net interest margins to be at about 3.25% this FY13.

Sesa Goa eyes Supreme Court lifting of Karnataka mining ban

Sesa Goa has been eyeing for the decision of the Supreme Court for lifting of Karnataka mining ban by June to July period this 2012 resulting to its iron ore capacity drop by 27% to 13.80 million tonnes (MT) in the current financial year.

India rating outlook negative for S&P; as Marc Faber eyes more declines

The rating outlook of India was relegated to negative by Standard and Poor’s or S&P wherein a downgrade warning until 2014 has been released. This has been predicted also by Marc Faber of Market Guru.

BSE Sensex slips 0.33% as market in slump again

The BSE Sensex shed 56 points or 0.33% to settle at 17,151.29, its lowest closing level since 23 April 2012. The index fell 188.05 points at the day's low of 17,019.24 in early afternoon trade, its lowest level since 16 April 2012. The index rose 42.32 points at the day's high of 17,249.61 in early trade, its highest level since 23 April 2012.

The S&P CNX Nifty lost 20.65 points or 0.4% to settle at 5,202, its lowest closing level since 23 April 2012. The Nifty hit a low of 5,160.65 in intraday trade, its lowest level since 29 March 2012. The Nifty hit a high of 5,236.10 in intraday trade, its highest level since 23 April 2012.

The BSE Mid-Cap index fell 0.55% and the BSE Small-Cap index declined 0.53%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2068 crore, lower than Rs 2308.53 crore on Tuesday, 24 April 2012.

Positive 1444 Negative 972 Unchanged 436
From the 30 share Sensex pack, 15 rose and rest fell.

Muthoot Finance to expand FY13 loans at a slow 16-25%

Muthoot Finance, an Indian firm based in Kochi, announced that its loan book will most probably expand at a reduced pace 16-25% in the current fiscal year as against the previous figure of 55-100%.

Lupin to develop fresh formulations production gear

According to Lupin, a leading medicine manufacturing firm in India, it has been developing fresh formulations production refinery located at Mihan in Nagpur which is a special economic zone.

PTC India accrues USD 25 million thru ECB

In the latest development, PTC India Financial’s director, Pawan Singh, announced that they already accumulated USD 50 billion in loans by means of ECB from IFC.

KRBL eyes sales to come near Rs 1,800 crore in FY13

The chairman and managing director of KRBL, Anil Mittal, announced that they have been looking forward sales to come near Rs 1,800 crore as well as profits to climb 4-5% in the current financial year.

SBI eyes reduction of loan rates to SMEs

The State Bank of India announced that it has been undergoing reduction of its loan rates by 1.5% to 2.0% points for SMEs or small and medium enterprises, according to its chairman Pratip Chaudhuri.

ADB to lend USD 103 million to Reliance Power for solar unit

The Asian Development Bank announced this day that it is set to lend Reliance Power Ltd an amount of USD 103 million to finance a solar energy venture in Rajasthan.

Alstom-Bharat Forge Power wins NTPC order worth Rs 1,570 crore

Alstom-Bharat Forge Power or ABFPL announced this day that it already obtained an order worth Rs 1,570 crore from the Solapur venture of National Thermal Power Corporation or NTPC.

Coal India fixes 468 MT capacity goal for FY13

Coal India or CIL, a government-managed firm, announced this day that it has already set a capacity goal of 468.74 million tonnes or MT for the present financial year.

Emirates of Dubai not interested in Indian airlines

Emirates airline of Dubai announced this day that it already refuted discussion of a potential equity shares acquisition in the aviation segment of India, according to the firm’s president Tim Clark.

Grain acquisition rises 16% in 2012

The acquisition of grain in the current season of rabi marketing was seen to have increased to 121.69 lakh tone which is a 16% rise in Punjab and Haryana, the significant expanding states.

TBZ launches IPO worth Rs 210 crore

The IPO or initial public offering of Tribhovandas Bhimji Zaveri or TBZ which is worth Rs 210 crore was already launched to be subscribed this day wherein the price range is Rs 120-126 every chare.

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BSE Sensex rises 0.65% as market advances

The BSE Sensex jumped 110.61 points or 0.65% to settle at 17,207.29, its highest closing level since 20 April 2012. The index jumped 150.85 points at the day's high of 17,247.53 in mid-afternoon trade. The index fell 49.96 points at the day's low of 17,046.72 in morning trade, its lowest level since 16 April 2012.

The S&P CNX Nifty advanced 22.05 points or 0.42% to 5,222.65, its highest closing level since 20 April 2012. The Nifty hit a high of 5,232.35 in intraday trade. The Nifty hit a low of 5,180.35 in intraday trade, its lowest level since 29 March 2012.

The BSE Mid-Cap index fell 0.13% and the BSE Small-Cap index declined 0.07%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2234 crore, higher than Rs 2033.13 crore on Monday, 23 April 2012.

Positive 1330 Negative 1401 Unchanged 114
From the 30 share Sensex pack, 16 rose and rest fell.

Prime Minister to confer on farm exports next Monday

Prime Minister Manmohan Singh already scheduled this Monday a conference of key ministers to converse exports of farm commodities this coming April 30, according to Farm Minister Sharad Pawar.

Food grains capacity for FY12 increased to all-time high 252.56 million tonnes

Food grains capacity approximate of India was modified increasing by more than two million tonnes to a record high of 252.56 million tonnes in the financial year 2011-2012.

IDBI Bank eyes FY13 NIMs rise by 20-25 bps

According to the executive director of IDBI Bank, BK Batra, the firm announced that it attained net profit rise of 49.4% year-on-year to Rs 770.78 crore in the last quarter of FY12 wherein it eyes to have NIMs increase by 20-25 bps in FY13.

HDFC Bank merges with Wells Fargo for cash transfer

HDFC Bank, the top two private sector lending firm of India, announced that it already made a merger deal with Wells Fargo to assist cash transfer for the foreign Indian clients in America of the bank.

NTPC demands SEBs to launch escrow account for safe payments

The government-run National Thermal Power Corporation or NTPC already made a demand from state electricity boards or SEBs to introduce an escrow account with assigned banking firms to have safe payments.

India eyes to make two-fold LNG imports from Qatar

India has been eyeing to make two-fold its importation of LNG or liquefied natural gas from Qatar from a yearly 7.5 million tonnes to 15 million tonnes, according to the commerce ministry.

Max Inida eyes to divest polypropylene venture

Max India, the insurance and hospitals group, has been eyeing to put on sale its polypropylene venture for a business worth of around Rs 800 crore which is a portion of intentions to depart with its non-core ventures.

EdServ Soft seals deal with Amazon.com for education apps

EdServ Softsystems, a firm based in Chennai, announced that it already sealed a deal with cyber retailing firm Amazon.com to provide 2tionPlus educational applications of EdServ on Amazon apps store globally.

Prestige Estates eyes Rs 2,000 crore sales in FY13

According to Prestige Estates Projects’ chairman as well as managing director, Irfan Razack, they have been looking forward to have sales worth Rs 2,000 crore in the financial year 2012-2013.

Stay away from Tribhovandas Bhimji Zaveri Ltd IPO: KRChoksey

KRChoksey, a research company, has made an announcement that it is recommending the investors to stay away from the initial public offer or IPO of Tribhovandas Bhimji Zaveri Ltd or TBZ.

IPO of Samvardhana Motherson Finance to be launched on May 2

Samvardhana Motherson Finance or SMFL has announced already that it will be introducing its IPO or initial public offer which is worth Rs 1,413 crore on Wednesday, May 2, 2012.

BSE Sensex plummets 1.6% as market still on red

The BSE Sensex shed 277.16 points or 1.6% to settle at 17,096.68, its lowest closing level since 13 April 2012. The index fell 317.07 points at the day's low of 17,056.77 in late trade. The index rose 70.34 points at the day's high of 17,444.18 in morning trade.

The S&P; CNX Nifty shed 90.25 points or 1.71% to settle at 5,200.60, its lowest closing level since 29 March 2012. The Nifty hit a low of 5,187.15 and a high of 5,310.55 in intraday trade.

The BSE Mid-Cap index declined 1.67% and underperformed the Sensex. The BSE Small-Cap index fell 1.54% and outperformed the Sensex.

BSE clocked turnover of Rs 2025 crore, lower than Rs 2208.98 crore on Friday, 20 April 2012.

Positive 990 Negative 1800 Unchanged 105
From the 30 share Sensex pack, 25 fell and rest rose.

Maruti revenue eyed gains for first time in three quarters

Maruti Suzuki India, the leading vehicle manufacturer of India, has been eyeing to obtain its first increase in revenue in three quarters following a stifling fiscal year for the auto manufacturer.

Future Group under negotiations with PE firms on stake sale in Future Capital

V Vaidyanathan, the chairman and managing director of Future Capital, announced that the Future Group has been under negotiations with several private equity firms on bulk equity shares sale in Future Capital.

Ipca Labs sees 18-20% increase in local market in FY13

According to AK Jain, Ipca Labs’ executive director, they have been looking forward to obtain growth by 18-20% in the local market in the current financial year and 30% expansion until 2017 in the global market.

Sistema to have nearly USD 1 billion writedown on India

In the latest development, Sistema, the Russian services firm, announced that it is set to have a writedown of around USD 1 billion concerning the cancellation of its Indian permits.

Present order book stands near Rs 8,500 crore says KEC International

The managing director of KEC International, Ramesh Chandak, announced that their present order book is more or less RS 8,500 crore after getting orders to the amount of Rs 1,416 crore from different ventures.

Essar Shipping eyes FY13 revenue growth with USD 25 million order book

The managing director of Essar Shipping, A R Ramakrishnan, announced that they already received orders from New Sino Oil Company which is worth USD 25 million for drilling five wells in Brunei wherein revenue is eyed to increase in the current financial year.

Microsoft gains as improved PC sales increase revenue

Microsoft Corp’s shares surges above 5% this Friday following the biggest software manufacturer of the world announced a quarterly revenue which overcame predictions in Wall Street on better-than-anticipated sales of PCs.

Montek optimistic of FDI in aviation sector

In the latest development, Montek Singh Ahluwalia, the Planning Commission deputy chairman, announced that he is supporting the FDI in multi-brand retail wherein he is optimistic of FDI in aviation industry.

NSE refutes trading system fault

The National Stock Exchange announced that there were no trading system faults last Friday as it refuted market rumor wherein an abrupt decline in index futures of utmost 6.7% was due to a trading fault.

Dim-sum bonds big opportunity to accrue funds says IL&FS; Financial Services

The managing director of IL&FS Financial Services, Milind Patel, has showed aggressiveness on the dim-sum bond sector wherein it provides a big opportunity to embark into mid-term capital for the companies in India.

Supreme Court permits Karnataka iron ore mining

The Supreme Court already gave permission for commencement again of mining in iron ore mines which are located in southern Karnataka state under category A or those with above 50 hectares.

BSE Sensex slides 0.74% as market ends week on slump

The BSE Sensex was down 129.87 points or 0.74% to 17,373.84. The index rose 16.17 points at the day's high of 17,519.88 in afternoon trade. The index lost 272.37 points at the day's low of 17,231.34 in mid-afternoon trade.

The S&P CNX Nifty was down 41.55 points or 0.78% to 5,290.85. The Nifty hit a high of 5,336.15 and a low of 5,245.45 in intraday trade.

The BSE Mid-Cap index shed 0.98%, underperforming the Sensex. The BSE Small-Cap index fell 0.47%, outperforming the Sensex.

The total turnover on BSE amounted to Rs 2193 crore, lower than Rs 2216 crore clocked on Thursday, 19 April 2012.

Positive 1242 Negative 1638 Unchanged 122
From the 30 share Sensex pack, 22 fell and rest rose.

Kingfisher starts procedure on importation of jet fuel

In the latest news, Kingfisher Airlines announced that it already started the procedure of aviation fuel importation after obtaining approval from the Director General of Foreign Trade last April 11, 2012.

Lupin continues selling of Fortamet generic version of diabetes medicine in U.S.

Lupin, a medicine manufacturer, announced this day that it already continued selling of its generic version of Shionogi Inc's Fortamet tablets, which is a type 2 diabetes treatment medicine, in the U.S.

Aviation Ministry, airlines ask verification on ECB standards

Pranab Mukherjee, the Finance Minister, in the Budget for 2012-2013, already made a proposal to allow utmost USD 1 billion ECB for working principal needs of the Ministry of Civil Aviation or MoCA and airlines wherein they asked for verification on this.

Air India eyes to accrue USD 1 billion in international borrowing

Air India, the money-strapped local airlines, already made invitations to bid from banking firms as well as monetary organizations to accrue utmost USD 1 billion by means of external commercial borrowings.

Present account deficit in FY 2011-2012 expected at 4% of GDP

The present account loss of India has been predicted to hit 4% of GDP in the financial year 2011-2012 which concluded in March, according to Rahul Khullar, the Trade Secretary.

BSE Sensex hikes 0.64% as market continues hot streak

The BSE Sensex was up 111.32 points or 0.64% to 17,503.71, its highest closing level since 3 April 2012. The index gained 137.91 points at the day's high of 17,530.30 in late trade. The index lost 30.68 points at the day's low of 17,361.71 in mid-morning trade.

The S&P CNX Nifty was up 32.40 points or 0.61% to 5,332.40, its highest closing level since 3 April 2012. The Nifty hit a high of 5,342.45 and a low of 5,291.30 in intraday trade.

The BSE Mid-Cap index rose 0.25% and the BSE Small-Cap index gained 0.27%. Both these indices underperformed the Sensex.

Positive 1491 Negative 1377 Unchanged 117
From the 30 share Sensex pack, 21 rose and rest fell.

Reliance Communications to make Rs 6,000 payment for lack in services

Reliance Communications announced that it has been asked already to make payment which is worth Rs 6,000 due to mental trauma, physical and financial deficits as well as litigation expenses.

Gems, jewellery exports in March decline 26.5% Year-on-Year

In the latest development, the exportation of gems and jewellery in India last March declined 26.5% to USD 4.52 billion as compared to the same period of last financial year.

Gulf, Asian airlines interested in stake acquisition: Spicejet

According to Neil Mills, the chief executive of Spicejet, many airlines based in Southeast Asia and Gulf region have already showed interest in stake acquisition while no talks have occurred.

No tender for Cable & Wireless Worldwide: Tata Communications

In the latest development, Tata Communications announced this day that it already decided not to give a tender for Cable & Wireless Worldwide of Britain since the price target was not met.

American Airlines eyes to slash 1,200 more jobs

American Airlines made an announcement this day to its employees that it has been looking forward to removing 1,200 more jobs which is included in its scheme to reduce costs in bankruptcy.

Above 11,000 Ertiga MPVs ordered five days after launch: Maruti Suzuki

Maruti Suzuki, the leading passenger vehicle manufacturer of India, announced that it already received orders above 11,000 units of the Ertiga, its multi-purpose vehicle, five days after the said car was introduced in the market, according to its chief general manager for marketing Shashank Srivastava.

Tribhovandas fixes price range for IPO worth Rs 210 crore

Tribhovandas Bhimji Zaveri Ltd, a jewellery retailing firm, announced that it already fixed a price range from Rs 120 to Rs 126 per share for its IPO or initial public offering worth Rs 210 crore.

Sun Pharma triumphs in U.S. suit for Prandin

Sun Pharmaceutical Industries, a leading pharmaceutical firm, has witnessed its shares increased above 2.5% this Wednesday following the favorable decision by the U.S. Supreme Court for its unit Caraco Pharmaceutical Laboratories regarding its generic edition of diabetic medicine Prandin.

SpiceJet receives DGFT approval for jet fuel import

SpiceJet has made an announcement this day that it already obtained the nod from the Director General of Foreign Trade or DGFT for the importation of its direct jet fuel.

Core inflation of India less than predicted says Subbarao

The core inflation of India last March which is 4.7% was less than the prediction made by the Reserve Bank of India, according to its governor Duvvuri Subbarao this Wednesday.

Shriram Transport eyes business growth after rate reduction

Shriram Transport Finance’s managing director, Umesh Revankar, announced that the rate reduction of 50 bps by RBI is expected to be encouraging for the industry toward complete economic growth.

Government borrowing to hit liquidity management, financial policy

According to the governor of RBI or Reserve Bank of India, D Subbarao, in its yearly financial policy for the current financial year, reduced the policy rates by 50 basis points wherein government borrowing is set to hit liquidity management as well as financial policy.

Finance Ministry to respond to Vodafone advisory

The Finance Ministry is set to make a response to the Vodafone advisory regarding the retrospective tax proposal following the submission of the Finance Bill in Parliament which might be based on China and U.K. retrospective amendments.

Kingfisher makes allotment of stake versus OCDs

Kingfisher Airlines announced this day that they already made an allotment of stake versus OCDs or optionally convertible debentures, an innovation which might assist in conserving interest depletion on those mechanisms.

GIC of Singapore eyes acquiring shares in GVK unit

Government of Singapore Investment Corp or GIC, the sovereign wealth fund, announced that it already started negotiations with GVK Group of India to acquire equity shares in one of its subsidiaries which possesses Hancock Coal of Australia.

Consumer prices in March soar 9.47% Year-on-Year

In the latest statistics revealed by the government, Indian consumer prices have increased 9.47% in the current year until March which is much higher than last month’s figure of 8.83%.

Latest venture recommendations deeply dip says CMIE

According to the recent statement made by the managing director and chief executive officer of Centre for Monitoring the Indian Economy or CMIE, Mahesh Vyas, the latest venture recommendations already plummeted deeply.

BSE Sensex increases 0.2% as market on a roll

The BSE Sensex was up 34.45 points or 0.2% to 17,392.39, its highest closing level since 4 April 2012. The index gained 164.86 points at the day's high of 17,522.80 in early trade. The index rose 13.99 points at the day's low of 17,371.93 in late trade.

The S&P CNX Nifty was up 10.30 points or 0.19% to 5,300, its highest closing level since 4 April 2012. The Nifty hit a high of 5,342 and a low of 5,293.45 in intraday trade.

The BSE Mid-Cap index rose 0.46% and the BSE Small-Cap index gained 0.5%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 2410 crore, lower than Rs 2713.78 crore clocked on Tuesday, 17 April 2012.

Positive 1639 Negative 1245 Unchanged 134
From the 30 share Sensex pack, 19 rose and rest fell.

Tribhovandas to introduce IPO worth Rs 200 crore

Tribhovandas Bhimji Zaveri, a jewellery retailing firm, is set to introduce an IPO or initial public offering of shares this coming April 24 in order to accrue utmost Rs 200 crore.

GRSE aims international warship deals

According to the chairman and managing director of Garden Reach Shipbuilders & Engineers or GRSE, AK Verma, they have been aiming to seal international warship deals such as for the Mauritius government deal amounting to USD 58.5 million in 2014.

FY13 asset quality to plummet says Nirmal Bang

According to the head-Equity Research of Nirmal Bang Institutional Equities, Hemindra Hazari, the asset quality is set to keep on plummeting in the current financial year as he expects economic growth at slow pace.

Lending rates reduced by 0.50% to 8% for short term

Home, car and conglomerate loans are most probably to come in lesser price while the Reserve Bank this day reduced deeply the lending rates in short period by 0.50% to 8%, which marked banks to reduce rates.

Rangarajan acclaims RBI, predicts FY13 economy expansion at 7.5%

In order to intensify expansion, RBI or Reserve Bank of India already made a reduction in the policy rates by 50 basis points in its yearly financial policy for the current financial year wherein Rangarajan mentioned RBI for possible economy expansion at 7.5%.

Star Group ends brand association with India TV news merger

Star Group, a subsidiary of News Corp of Rupert Murdoch, made an announcement that it has already concluded its brand affiliation with its television news channel merger associate in India.

Essar Oil under negotiations with SBI for USD 1.2 billion loan

Essar Oil announced that it has been in the later stage of negotiations with the State Bank of India to restructure a six-year loan to make payment of Rs 6,300 crore in sales tax to a state admin.

Avaya seals agreement with Bharti Airtel for 5 years

Avaya Corp, a telecom equipment manufacturer, announced that it already sealed an agreement for five years which is worth multi-million dollars in order to construct call centers for the major telecom firm of India, Bharti Airtel, in Asia as well as Africa.

Coal India executives give nod on fuel deals signing

The management committee of Coal India already decided for the government-managed firm to seal fresh guaranteed fuel deals with energy producing firms and it is set to make payment of a mean 0.01% of deficits in supplies.

Andhra Pradesh government seals pact with GDF Suez

Last Monday, the Andhra Pradesh state admin embarked into a deal with GDF Suez, a leading European gas firm, to construct a floating storage regasification unit or FSRU in the coastal area of the nation.

RIL, BP to reserve USD 1 billion with KG-D6 integrated plan

The following two days will be very significant for the recommended KG D6 integrated plan wherein it can assist the biggest private sector firm of India Reliance Industries Limited or RIL and BP reserve USD 1 billion.

BSE Sensex rises 1.21% as market surges

The BSE Sensex was up 206.99 points or 1.21% to 17,357.94, its highest closing level since 4 April 2012. The index gained 230.97 points at the day's high of 17,381.92 in late trade. The index fell 47.59 points at the day's low of 17,103.36 in morning trade.

The S&P; CNX Nifty was up 63.50 points or 1.22% to 5,289.70, its highest closing level since 4 April 2012. The Nifty hit a high of 5,298.20 and a low of 5,208.35 in intraday trade.

The BSE Mid-Cap index rose 0.72% and the BSE Small-Cap index gained 0.63%. Both these indices underperformed the Sensex.

The total turnover on BSE amounted to Rs 2016 crore, higher than Rs 1799.55 crore clocked on Monday, 16 April 2012.

Positive 1662 Negative 1178 Unchanged 122
From the 30 share Sensex pack, 27 rose and rest fell.

M&M; aims at global businesses

Mahindra & Mahindra, a leader in car manufacturing, announced that in the current financial year, they are aiming to have global purchases to improve their agricultural cars as well as agri-business services merchandise.

Tata Steel investing 800 million pounds in Welsh units

Tata Steel has been aiming to make an investment utmost 800 million pounds in its refineries in Wales in a span of five years from now, according to Carwyn Jones, the First Minister of Wales.

Jet fuel cost reduced by Rs 170 every kiloliter

The oil firms being managed by the government made an announcement this day that they will reduce costs of jet fuel with an average amount of Rs 170 every kiloliter.

Air India to accrue USD 1 billion working principal from abroad

In the latest development, Air India announced that it has been requested by merchant bankers to accrue working principal loans utmost USD 1 billion which will come from international business operations.

Government eyes to divest Rs 30,000 crore for FY13

Pranab Mukherjee, the Finance Minister, lowered down the goal for divestment to Rs 30,000 crore for the financial year 2012-2013 as the state admin planned to accrue Rs 40,000 crore last financial year only to get nearly Rs 14,000 crore.

Performing on clear GAAR plan says R Gopalan

According to R Gopalan, the Economic Affairs Secretary, the foreign institutional investors have been fretting over the GAAR or General Anti-Avoidance Rule wherein they must hang around until mid-May to determine their status.

March inflation beyond prediction at 6.89%

The WPI or wholesale price index of India already increased in a quicker pace of 6.89%, which is beyond the predicted figure, as compared to the previous year on back of lofty food costs.

BSE Sensex soars 0.33% as market jumps early

The BSE Sensex was up 56.44 points or 0.33% to 17,150.95. The index fell 84.35 points at the day's low of 17,010.16 in early trade. The index rose 78.55 points at the day's high of 17,173.06 in late trade.

The S&P CNX Nifty was up 18.75 points or 0.36% to 5,226.20. The Nifty hit a high of 5,233.50 and a low of 5,183.50 in intraday trade.

The BSE Mid-Cap index rose 0.86% and the BSE Small-Cap index gained 0.56%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 1790 crore, lower than Rs 2,961.77 crore clocked on Friday, 13 April 2012.

Positive 1551 Negative 1223 Unchanged 133
From the 30 share Sensex pack, 15 rose and rest fell.

Piramal eyes USD 1.5 billion revenue from florbetaben molecule

Piramal Healthcare, a medicine manufacturer, announced that it is eyeing to obtain possible revenue worth USD 1.5 billion from its latest purchased florbetaben molecule for curing Alzheimer's disease, according to Ajay Piramal.

India oil refining production to soar 6.2 million bpd till March 2017

The refining production of India is set to go beyond 6.2 million barrels per day or bpd until March 2017 from more or less 4.26 million bpd at present, according to GC Chaturvedi, the Oil Secretary.

Essel Group no plan to increase stake in IVRCL

Essel Group has already made an announcement this day that it is not aiming to raise its equity shares in IVRCL Ltd., an infrastructure firm, from the present 12.27% stake.

ABB to infuse RS 250 crore on fresh producing refineries

In the latest development, ABB, the power and automation technology leader, announced that it is set to make investment worth Rs 250 crore to construct fresh units in India to produce energy equipment and transformers in high-voltage.

BASF aims Rs 800-1,000 crore sales from latest Gujarat refinery

BASF India, a subsidiary of the biggest chemicals group in the world BASF, has been looking forward to get sales worth Rs 800-1,000 crore from its fresh refinery in Gujarat beginning 2014, says Prasad Chandran, the firm’s chairman.

Rs 25,000 crore to be borrowed by LIC Housing Finance in FY13

LIC Housing Finance, a unit of government-managed insurance major LIC, has been aiming to borrow more or less Rs 25,000 crore in the present financial year wherein the figure is around 13.5% above that of FY12.

Government to invest around Rs 1,500 crore in PSU banks in FY13

The state admin announced that it is set to invest more or less Rs 1,500 crore in the public sector banks in the present financial year to improve their monetary strength.

IOC demands Rs 8 increase in petrol costs

The chairman of Indian Oil Corporation, RS Butola, already demanded for an increase in petrol costs worth Rs 8 wherein oil manufacturing firms have been getting losses of Rs 50 crore on petrol daily.

China energy major seals USD 2.4 billion India venture

China’s Power Construction Corporation announced that it already sealed a deal worth USD 2.4 billion in order to construct the phase two in southern India of a huge coal-fired energy complex.

McLeod Russel to raise capacity from current units by 5%

McLeod Russel India Ltd or MRIL announced that they are aiming to have a capacity hike from their current plantations wherein that could rise more or less 4-5% to about 110 million kg, according to the firm’s CFO Kamal Baheti.

Gross NPAs probably to stay at 2.74% says Shriram Transport

The managing director of Shriram Transport Finance Company, Umesh Revankar, announced that the gross NPAs in the third quarter should come in near 2.74%, possibly with similar figure in the last quarter.

Neyveli Lignite to construct 1,980 Megawatts energy refinery

The chairman and managing director of Neyveli Lignite, AR Ansari, announced that they have been planning to develop a supercritical thermal energy refinery of coal in Ghatmapur, Kanpur with 1,980 Megawatts capacity.

IL&FS; plans selling of USD 200 million yuan bonds

Infrastructure Leasing & Financial Services’ Indian subsidiary has been aiming to accrue USD 200 million valued yuan-denominated bonds as well as is set to put on sale to stockholders in a road show the following week.

Exports of India reach USD 300 billion

The exports of India reached USD 300 billion in the financial year 2012. On the other hand, the increasing import cost led to trade loss surging to USD 185 billion.

Siemens could merge with Reliance Industries

Siemens Ltd of India could merge with Reliance Industries Ltd, a power firm, for possible security solution ventures under certain conditions following both firms’ rejection to bid for a grand Mumbai project.

BSE Sensex drops 1.37% as market slumps anew

The BSE Sensex was down 238.11 points or 1.37% to 17,094.51, its lowest closing level since 29 March 2012. The index rose 65.60 points at the day's high of 17,398.22 in mid-morning trade, its highest level since 4 April 2012. The index fell 305.32 points at the day's low of 17,027.30 in mid-afternoon trade.

The S&P; CNX Nifty was down 69.40 points or 1.32% to 5,207.45, its lowest closing level since 29 March 2012. The Nifty hit a high of 5,306.75 in intraday trade, its highest level since 4 April 2012. The Nifty hit a low of 5,185.40 in intraday trade.

The BSE Mid-Cap index fell 0.72% and the BSE Small-Cap index declined 0.63%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2952 crore higher than Rs 2235.59 crore on Thursday, 12 April 2012.

Positive 1236 Negative 1567 Unchanged 133
From the 30 share Sensex pack, 17 fell and rest rose.

NBCC concludes day with shares at Rs 97.05

The shares of NBCC or National Buildings Construction Corporation concluded at Rs 97.05 versus its issue price of Rs 106 upon witnessing an opening price of Rs 100.

MT Educare concludes at above circuit on debut day

MT Educare’s shares stayed behind at the above circuit during the whole exchanges on its debut day wherein Rs 86.05 was the opening price for the stock.

MS&AD; of Japan acquires 26% stake in NY Life’s India merger unit

MS&AD; of Japan has been purchasing the 26% equity shares of New York Life in a merger with Max India which is around USD 530 million as a part of the firm’s international expansion.

Government to invest Rs 30,000 crore in Air India by 2020

Being a portion of the restructuring of Air India, the state admin already made a decision to invest Rs 30,000 crore as further equity shares eight years from now, according to Ajit Singh, the civil aviation minister.

WTO eyes expansion declining to 3.7% this year

According to the World Trade Organization, they predict that the world trade expansion is set to come in gradual pace in two consecutive years to 3.7% in the current year.

Unitech soars above 6% upon case triumph versus Telenor

Unitech’s shares has soared more than 6% during the exchanges this day wherein the firm already emerged victorious in a law suit versus its merger associate Telenor in Company Law Board or CLB.

Samsung eyed as cellphone leader after Nokia

The 14-year reign of Nokia Oyj as the cellphone market leader worldwide was brought into a conclusion by Samsung Electronics Co Ltd of Korea during the first quarter of the current year wherein Samsung was believed to have made 88 million sales versus Nokia’s 83 million.

BSE Sensex increases 0.77% as market bounces back

The BSE Sensex rose 133.22 points or 0.77% to 17,332.62, its highest closing level since 4 April 2012. The index jumped 195.75 points at the day's high of 17,395.15 in early afternoon trade. The index gained 77.47 points at the day's low of 17,276.87 in early trade.

The S&P; CNX Nifty rose 50 points or 0.96% to 5,276.85, its highest closing level since 4 April 2012. The Nifty hit a high of 5,290.60 in intraday trade. The Nifty hit a low of 5,246.75 in intraday trade.

BSE clocked turnover of Rs 2202 crore, lower than Rs 2383.42 crore on Wednesday, 11 April 2012.

Positive 1712 Negative 1100 Unchanged 135
From the 30 share Sensex pack, 23 rose and rest fell.

Dreamworks studio receives around USD 200 million from Reliance Entertainment

The film conglomerate led by legendary director Steven Spielberg, Dreamworks Studio, is set to receive more or less USD 200 million from its associate Reliance Entertainment to keep on creating movies.

Carlyle Group LP aims IPO worth USD 7.5-8 billion

Carlyle Group LP, a private equity company based in the U.S., has been looking forward for a USD 7.5-8 billion market appraisal in an IPO or initial public offering.

ADB predicts average rise in GDP to 7% in FY13

According to the latest statement made this day by ADB or Asian Development Bank, they predict an average expansion of 7% in growth rate for India in the financial year 2012-2013.

Piramal receives European regulatory approval for selling BST-CarGel

Piramal Healthcare Ltd revealed this day that it has obtained already the European regulatory nod to put on sale BST-CarGel in each and every nation included in the European Union.

BSE Sensex declines 0.26% as market dips

The BSE Sensex shed 44.44 points or 0.26% to settle at 17,199.40, its lowest closing level since 29 March 2012. The index rose 75.31 points at the day's high of 17,319.15 in mid-afternoon trade, its highest level since 9 April 2012. The index fell 167.95 points at the day's low of 17,075.89 in early trade.

The S&P CNX Nifty shed 16.75 points or 0.32% to settle at 5,226.85, its lowest closing level since 29 March 2012. The Nifty hit a high of 5,263.65 in intraday trade, its highest level since 9 April 2012. The Nifty hit a low of 5,190.80 in intraday trade.

The BSE Mid-Cap index fell 0.63% and the BSE Small-Cap index declined 0.27%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2368 crore, higher than Rs 2297.76 crore on Tuesday, 10 April 2012.

Positive 1260 Negative 1525 Unchanged 124
From the 30 share Sensex pack, 18 fell and rest rose.

Shares of NBCC to be listed this April 12

National Buildings Construction Corporation or NBCC, a government-run construction firm, is set to list its stake this Thursday, April 12, wherein the issue price is in the price range of Rs 90-106 per share.

Shares of MT Educare to be listed this April 12

MT Educare is set to list its stake on Thursday, April 12, wherein it accrued the amount of Rs 99 crore by means of public issue with price range of Rs 74-80 per share.

Reliance Communications verifies IPO of Flag Telecom

Reliance Communications announced that it already verified about its plan of an IPO or initial public offering for its subsidiary on subsea telecommunications infrastructure network, Flag Telecom.

SpiceJet makes allotment of 4.29 crore shares to Kalaniti Maran

SpiceJet, a low-cost aircraft firm, announced this day that it already made allotment of 4.29 crore shares to investor Kalanithi Maran to the amount of Rs 23.18 each share.

HSBC sees Korea, Pakistan sales in worldwide withdrawal

HSBC, the largest bank of Europe, announced that it has been under negotiations to put on sale its businesses in Pakistan as well as in Korea which is the result of its worldwide withdrawal.

Vedanta reveals mining prohibition affects iron ore capacity

Vedanta, a mining firm based in India, already witnessed a decline in whole-year iron ore capacity this Tuesday on back of prohibition on mining in Karnataka as well as logistical bottlenecks not far from Goa.

BGR Energy sees Rs 5,200 crore in FY13 revenues

BGR Energy Systems’ chief financial officer, PR Easwar Kumar, announced that the firm already received two orders from NTPC as they eye revenue to come in above Rs 5,200 in the current financial year.

TV Today not aware of any deal with Aditya Birla Group

TV Today Network Ltd of India announced this Tuesday that it did not notice any business deal involving the acquisition of stake by Aditya Birls Group from Living Media India Ltd.

Somany Ceramics acquires 26% in Commander Vitrified

Somany Ceramics, a tile manufacturer, announced this Tuesday that it already purchased 26% equity shares in Commander Vitrified or CVPL which is worth Rs 3.25 crore wherein it can completely access production capacity of CVPL which is located in Gujarat.

Reliance Communications subsidiary attains approval “in principle” for IPO

In the latest development, Reliance Communications’ undersea cable subsidiary has already obtained the nod “in principle” for its IPO or initial public offering of shares from the Singapore stock exchange.

BSE Sensex soars 0.13% as market in upsurge

The BSE Sensex advanced 21.70 points or 0.13% to settle at 17,243.84, its highest closing level since 4 April 2012. The index fell 86.38 points at the day's low of 17,135.76 in afternoon trade, its lowest level since 30 March 2012. The index rose 52.55 points at the day's high of 17,274.69 in morning trade.

The S&P CNX Nifty advanced 9.20 points or 0.18% to settle at 5,243.60, its highest closing level since 4 April 2012. The Nifty hit a low of 5,211.85 in intraday trade, its lowest level since 30 March 2012. The Nifty hit a high of 5,255.80 in intraday trade.

The BSE Mid-Cap index fell 0.26% and the BSE Small-Cap index declined 0.12%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2288 crore, higher than Rs 1851.14 crore on Monday, 9 April 2012.

Positive 1337 Negative 1432 Unchanged 150
From the 30 share Sensex pack, 18 fell and rest rose.

DB Corp eyes FY13 as year of consolidation

The non-executive director of DB Corp, Girish Agarwaal, announced that the firm looks forward to the financial year 2013 to become a year of consolidation wherein he predicts about 15-18% top-line expansion.

Health Claim Services introduced by HDFC ERGO

HDFC ERGO General Insurance, a private sector firm, announced this day that it has already introduced Health Claim Services or HCS, the firm’s in-house department dealing with health claim services.

Dhanlaxmi Bank no intention to halt businesses in branches

Dhanlaxmi Bank, a small-scale private lending firm, announced this day that it does not have an intention to minimize or even close businesses in its branches amid salary reductions to manage costs.

L&T; conducts commissioning for 40 Megawatts Rajasthan solar unit

Larsen & Toubro announced this day that it already performed commissioning for the nation’s biggest solar photovoltaic energy refinery of Reliance Power located in Rajasthan which is set to produce power of 40 Megawatts.

TD Power seals tech transfer deal with Siemens AG

In the latest statement from the joint managing director of TD Power Systems Ltd, Nikhil Kumar, he announced that the firm after Siemens AG technical transfer deal intends to have a significant market share.

India, Qatar seals deal to expand oil and gas segment

India as well as Qatar already sealed one of the six deals this day which is to improve coordination in the oil and gas exploration, which is really a significant sector.

AOL to put on sale 800 patents worth USD 1 billion to Microsoft

AOL Inc announced this day that it has been aiming to put on sale more than 800 of its patents as well as related software to Microsoft to the amount of greater than USD 1 billion in cash.

Suzlon chosen as project developer by Cennergi

Suzlon, a wind turbine manufacturer, announced this day that they have been chosen to become the provider for 66 S97 2.1 Megawatts turbines from Cennergi for its venture in South Africa with power capacity of 138 Megawatts.

Trade Minister says India to prohibit more cotton exports in 2013

India is really determined to prohibit exportation of more cotton for the present year that will conclude this September, according to the latest statement made by Anand Sharma, the Trade Minister.

i-Gate Corp to pay minority investors in Patni

i-Gate Corp already sealed a deal to buy out the minority investors of its unit Patni Computer Systems or PCS wherein the firm is set to make payment worth Rs 530 each share.

Maruti Suzuki to launch sub-1 liter diesel auto by H1 2013

Maruti Suzuki, the biggest passenger auto manufacturer of India, has been undergoing development of a sub-1 liter diesel engine as well as the light vehicle will most probably be launched within the first 6 months next year.

BSE Sensex drops 1.51% as market starts week on decline

The BSE Sensex fell 263.88 points or 1.51% to settle at 17,222.14, its lowest closing level since 29 March 2012. The index fell 286.39 points at the day's low of 17,199.63 in late trade. The index declined 78.36 points at the day's high of 17,407.66 in early trade.

The S&P CNX Nifty fell 88.50 points or 1.66% to 5,234.40, its lowest closing level since 29 March 2012. The Nifty hit a low of 5,228 in intraday trade. The Nifty hit a high of 5,287.90 in intraday trade.

The BSE Mid-Cap index fell 1.35% and the the BSE Small-Cap index fell 0.65%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 1843 crore, lower than Rs 2126.50 crore on Wednesday, 4 April 2012.

Positive 1179 Negative 1640 Unchanged 113
From the 30 share Sensex pack, 25 fell and rest rose.

CEO of BSE resigns from BSE for Tata Sons executive post

The chief executive officer of the BSE or Bombay Stock Exchange, Madhu Kannan, announce that he is resigning from his position in order to get affiliated with Tata Sons as the firm’s group head of business development.

BHEL eyes 15,000-16,000 Megawatts orders in FY13

BHEL or Bharat Heavy Electricals announced that they have been looking forward to attain more or less 15,000 to 16,000 Megawatts (MW) orders in the financial year 2012-2013, according to its chairman and managing director BP Rao.

BSE to mull IPO by last week of April

SEBI announced that the BSE Limited is being eyed to be the first one to have listing on the exchanges in the near future wherein its management committee members mull IPO in the fourth week of this month.

MT Educare fixes issue price at higher range

MT Educare, a firm that deals in coaching services which is formerly called Mahesh Tutorials, already set the Rs 74-80 per share issue price in the higher limit of price range for its IPO worth Rs 99 crore.

Mahindra Defence eyes to obtain USD 50 billion each from mergers

Khutub Hai, the Chief Executive of Mahindra Defence Systems, announced that they have been looking forward to obtain USD 50 billion from their shared business enterprises with Telephonics Corp and Rafael Advance Defence Systems.

Renault aims small auto to rev up sales

Renault, a leading car manufacturer in France, announced that it is currently widening its business in India wherein it eyes to rev up its sales to 20 times more than the 1,500 autos in the previous year.

Department of Fertilizer recommends SWF worth USD 1 billion

The Department of Fertilizer already made a recommendation to establish a sovereign wealth fund or SWF for the purchase of mineral investments internationally wherein the amount is more or less USD 1 billion.

Piramal Healthcare alters name to Piramal Enterprises

Piramal Healthcare Ltd, a medicine manufacturer, announced that its management committee already gave approval to alter the firm’s name to Piramal Enterprises Ltd to suitably reveal modifications in its business profile.

NALCO eyes higher growth in FY13 than FY12

According to the Chairman and Managing Director of NALCO, BL Bagra, they have been aiming to attain 44,5000 tonne of capacity in the current financial year as they eye higher growth as against the previous year.

IFC makes Rs 100 crore investment in Pragati Equity

International Finance Corporation or IFC announced that it already made investment worth USD 20 million which is more or less Rs 100 crore in Pragati Equity Advisors to finance ventures in those areas.

BHEL eyes even sales expansion in FY13

Bharat Heavy Electricals, the largest energy machine manufacturer of India, has been looking forward to attain even expansion in sales in the current financial year due to doubts afflicting energy production firms.

BSE Sensex climbs 0.68% as market still on green

The Sensex jumped 119.27 points or 0.68% to settle at 17,597.42, its highest closing since 21 March 2012. The index jumped 185.95 points at the day's high of 17,664.10 in mid-afternoon trade. The index rose 91.86 points at the day's low of 17,570.01 in late trade.

The S&P CNX Nifty advanced 40.60 points or 0.76% to settle at 5,358.50, its highest closing since 21 March 2012. The Nifty hit a high of 5,378.75 in intraday trade. The Nifty hit a low of 5,344.45 in intraday trade.

BSE clocked turnover of Rs 2230 crore, higher than Rs 2049.98 crore on Monday, 2 April 2012.

The BSE Mid-Cap index rose 0.95% and the BSE Small-Cap index gained 1.14%. Both these indices outperformed the Sensex.

Positive 1764 Negative 1053 Unchanged 118
From the 30 share Sensex pack, 16 fell and rest rose.

Ranbaxy begins shipping generic Lipitor from India

Ranbaxy Laboratories Ltd announced that it already began exports of generic version of Lipitor, a blockbuster cholesterol medicine, from a fresh Indian refinery which was already given approval by US FDA.

Advent International infuses USD 105 million fund in India’s Care Hospitals

Advent International, the private equity fund from United Kingdom, already made an investment around USD 105 million in Care Hospitals of India through acquisition of stake from the remaining stockholders as well as infusion of more fund in to the venture.

DBS to acquire Bank Danamon worth USD 7.24 billion

DBS Group of Singapore, the largest bank of Southeast Asia, will be acquiring Bank Danamon of Indonesia to the amount of USD 7.24 billion in an agreement to determine acceptance by Indonesians.

Amul milk costs to hike soon by Re 1-2 every liter

Gujarat Cooperative Milk Marketing Federation or GCMMF, the biggest dairy firm in Asia, announced through its Managing Director, R S Sodhi, that there will be a price hike for Amul brand dairy products by Re 1-2 every liter in the near future.

Titan Industries receives government approval to import gold directly

Titan Industries, a jewellery manufacturer subsidized by the Tata Group, announced that it already received the permission from the state admin to import gold straightly for them to conserve their operating expenses.

Exports expand the least in three months

The exports of India expanded by a yearly 4.2% last February to USD 24.6 billion, which is the least growth attained in the previous three months wherein the nation might not achieve the USD 300 billion goal for the current financial year.

Rashtriya Ispat Nigam eyes IPO this June

Mr A P Choudhary, the Chairman of the government-run Rashtriya Ispat Nigam Ltd or RINL, announced that the firm will most probably submit its draft prospectus for its IPO or initial public offering this June.

BSE Sensex surges 0.42% as trading goes well

The BSE Sensex advanced 73.95 points or 0.42% to settle at 17,478.15, its highest closing level since 21 March 2012. The index jumped 125.78 points at the day's high of 17,529.98 in mid-afternoon trade. The index fell 21.82 points at the day's low of 17,382.38 in early trade.

The S&P CNX Nifty advanced 22.35 points or 0.42% to settle at 5,317.90, its highest closing level since 21 March 2012. The Nifty hit a high of 5,331.55 and a low of 5,278.80 in intraday trade.

The BSE Mid-Cap index rose 1.08% and the BSE Small-Cap index gained 1.68%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2039 crore, lower than Rs 2682.73 crore on Friday, 30 March 2012.

Positive 1932 Negative 852 Unchanged 95
From the 30 share Sensex pack, 19 rose and rest fell.