Rangarajan eyes 6.5-7% GDP growth in FY13

The chairman of the Economic Advisory Council or PMEAC of the Prime Minister, C Rangarajan, announced that the total rate of growth is still passive as he eyes GDP growth in the range of 6.5-7% in the current financial year.

Growth of core segment in April declines to 2.2%

The rate of growth of the core sectors declined to 2.2% last month due to unsatisfactory business results in the market for crude oil, natural gas, petroleum refinery products and fertilisers.

Mico Bosch not spending more money in diesel car parts

The chief executive officer of Mico Bosch, VK Vishwanathan, announced that they are not intending to increase expenditures in diesel car parts although the possibility to obtain profits is huge.

Reliance Broadcast eyes improved margins onwards via airtime, sponsorship

In the latest development, the chief executive officer or CEO of Reliance Broadcast, Tarun Katial, announced that they look forward for sponsorship as well as airtime to improve margins onwards.

Sakthi Sugars eyes constant sugar prices abroad going forward

The managing director of Sakthi Sugars, M Manickam, announced that the foreign prices of sugar came in even since 2010 as they look forward to sustain stable prices going forward.

Mahindra & Mahindra to invest Rs 5,000 crore on capex

Mahindra & Mahindra, the largest utility car manufacturer, announced that it is set to invest Rs 5,000 crore on capex until 2015-2016 from the current financial year, according to its executive.

Praj Industries eyes realistic growth in profits onwards

Praj Industries announced that it has been looking forward to obtain realistic growth in profits onwards as they predict large number of orders, according to the firm’s chairman Pramod Chaudhari.

BSE Sensex slumps 0.57% as market slides again

The BSE Sensex lost 93.62 points or 0.57% to 16,218.53, its lowest closing level since 25 May 2012. The index declined 226.09 points at the day's low of 16,086.06 in mid-morning trade. The index fell 34.67 points at the day's high of 16,277.48 in late trade. 

The S&P CNX Nifty shed 26.50 points or 0.54% to 4,924.25, its lowest closing level since 25 May 2012. The index hit low of 4,883.55 and a high of 4,949.25 in intraday trade. 

The BSE Mid-Cap index rose 0.36% and outperformed the Sensex. The BSE Small-Cap index declined 0.57%, matching the declined in Sensex. 

BSE clocked turnover of Rs 1774 crore, higher than Rs 1736.52 crore on Wednesday, 30 May 2012. 

Positive 1184 Negative 1416 Unchanged 107 
From the 30 share Sensex pack, 18 fell and rest rose.

Essar considers makeover scheme; to divest shares in group firms

In the latest development, Essar Group, a diversified firm, has been planning to concentrate businesses on core assets as well as considering makeover scheme to divest shares in group firms.

UBS eyes revenue growth of 9.2% at formula One from 2011-2016

UBS AG has been looking forward to get revenue at Formula One, a motor racing venture, to increase 9.2% starting last year until 2016 on back of growing number of races.

Engineers India gets improved number of orders from oil and gas sector

In the latest development, Engineers India revealed this day that they obtained better performance in oil and gas sector in the last quarter of the financial year 2011-2012 with good orders inflow.

PVR eyes 25% revenue increase in FY13

In the latest development, the chief financial officer of PVR, Nitin Sood, announced that they have already been eyeing to get revenue increase of 25% in the financial year 2012-2013.

Everest Kanto aims to grow utmost 25% in FY13

The chairman and managing director of Everest Kanto Cylinder Limited, Prem Khurana, announced that they have been looking forward to achieve growth in the range of 20-25% in the current financial year.

NCC eyes fresh order in FY13 worth Rs 8,500 crore

The VP-finance of NCC, YD Murthy, announced that their order book before FY14 will be around Rs 20,195 as they eye fresh order worth Rs 8,500 crore in the financial year 2012-2013.

Selling of stake of Pantaloon in Future Capital at last stage

The chairman and managing director of Future Capital Holdings, V Vaidyanathan, announced that the selling of equity shares of Pantaloon in the firm has been at the last level of talks.

ABG Shipyard eyes 22-23% operating margins onwards

ABG Shipyard, the biggest private shipyard of India, announced through D Datar, its executive officer, that it is currently providing around15-16 ships yearly since 2009 while operating margins are expected to reach 22-23% onwards.

Shree Renuka Sugars eyes exports to improve FY13 sales

The managing director of Shree Renuka Sugars, Narendra Murkumbi, has made an announcement that they have been looking forward for exports to improve their sales in the financial year 2012-2013.

Rashtriya Ispat Nigam submits IPO documents with SEBI

Rashtriya Ispat Nigam or RINL, a firm managed by the government, already submitted its DRHP or draft red herring prospectus with SEBI last May 18 for its 48.898 crore equity shares initial public offering.

Speciality Restaurants attains Rs 153 listing on BSE

Speciality Restaurants has made an announcement that versus its IPO price worth Rs 150, the firm already listed at Rs 153 on the BSE wherein its trading volume reached 3,66,894 shares.

BSE Sensex slips 0.77% as market plummets

The BSE Sensex lost 126.43 points or 0.77% to 16,312.15, its lowest closing level since 25 May 2012. The index declined 143.27 points at the day's low of 16,295.31 in late trade. The index fell 9.84 points at the day's high of 16,428.74 in mid-afternoon trade. 

The S&P CNX Nifty lost 39.35 points or 0.79% to 4,950.75, its lowest closing level since 25 May 2012. The index hit low of 4,944.90 and a high of 4,982.25 in intraday trade. 

The BSE Mid-Cap index fell 1.28% and the BSE Small-Cap index dropped 1.21%. Both these indices underperformed the Sensex. 

BSE clocked turnover of Rs 1719 crore, lower than Rs 1749.05 crore on Tuesday, 29 May 2012. 

Positive 1046 Negative 1654 Unchanged 128
From the 30 share Sensex pack, 20 fell and rest rose.

ENIL eyes more than 10% FY13 revenue expansion

Entertainment Network India or ENIL’s executive director and chief executive officer, Prashant Panday, announced that they have been looking forward to achieve more than 10% revenue expansion in the current financial year.

Oil Minister reveals no scheme to up prices of diesel, kerosene, cooking gas

S. Jaipal Reddy, the Oil Minister, announced this day that the government does not intend to push for urgent schemes to increase the respective diesel, kerosene and cooking gas retail prices.

Reliance Infrastructure eyes FY13 EPC revenues worth more than Rs 10,000 crore

Reliance Infrastructure, the infrastructure firm of the Anil Dhirubhai Ambani Group, announced that it has been looking forward to EPC revenues wherein the value is worth more than Rs 10,000 crore in the financial year 2012-2013.

BSE Sensex rises 1.23% as market on green

The BSE Sensex jumped 199.02 points or 1.23% to settle at 16,416.84, its highest closing level since 10 May 2012. The index jumped 222.15 points at the day's high of 16,439.97 in late trade. The index gained 55.67 points at the day's low of 16,273.49 in early trade. 

The S&P CNX Nifty surged 65.25 points or 1.33% to settle at 4,985.65, its highest closing level since 8 May 2012. The index hit a high of 4,994.95 and a low of 4,931.30 in intraday trade. 

The BSE Mid-Cap index rose 1.21% and the BSE Small-Cap index gained 0.87%. Both these indices underperformed the Sensex. BSE clocked turnover of Rs 1585 crore, lower than Rs 1793.83 crore on Friday, 25 May 2012. 

Positive 1714 Negative 1008 Unchanged 116 

From the 30 share Sensex pack, 24 rose and rest fell.

CAD to gain from declining crude price, gold importation

In the latest statement made by the Executive Chairman and Managing Director of Kotak Mahindra Bank, the CAD or current account deficit most probably enhance in the near future due to declining crude prices and gold importations.

Reliance Communications eyes action this H2 FY13 on selling stake in Rel Infratel

Reliance Communications, a firm managed by Anil Ambani and the top two largest cellular phone service provider by users, has been eyeing action on selling equity shares in Rel Infratel in the second half of the current financial year.

M&M; eyes to launch again XUV500 model bookings in June

Mahindra & Mahindra or M&M;, a domestic car leader, has already announced this day that it is all set to launch bookings again for its XUV500 model the following month.

Expansion drive to increase this FY13 says Barclays Capital

Similar with the majority of the industry experts, the regional economist of Barclays Capital, Rahul Bajoria, announced that they have been looking forward for India to obtain 6.1% GDP in the last quarter of FY12 while the drive in expansion will increase this financial year.

Inox Leisure net loss in Q4 FY12 broadens to Rs 10.12 crore

In the latest development, Inox Leisure Ltd, a multiplex service provider, announced that its net loss in the last quarter of the financial year 2011-2012 broadened to Rs 10.12 crore.

Sun TV eyes expansion in single digit figure in ad revenue this FY13

The group chief financial officer of Sun TV, SL Narayanan, announced that they have been looking forward to attaining growth in single digit figure in ad revenue in the financial year 2012-2013.

Power capacity may be augmented at 90,000 Megawatts until 2017

In the present 12th Five Year Plan (2012-17), Planning Commission and Power Ministry have been considered to have agreed upon on setting the capacity augmentation goal at 90,000 Megawatts until the year 2017.

BSE Sensex declines 0.03% as market slightly collapses

The BSE Sensex was down 4.48 points or 0.03% to 16,217.82. The index rose 51.18 points at the day's high of 16,273.48 in mid-afternoon trade. The index fell 103.95 points at the day's low of 16,118.35 in mid-morning trade.

The S&P; CNX Nifty was down 1 point or 0.02% to 4,920.40. The index hit a high of 4,935.80 and low of 4,889.35 in intraday trade.

The BSE Mid-Cap index rose 0.44% and the BSE Small-Cap index rose 0.53%. Both these indices outperformed the Sensex.

The total turnover on the BSE amounted to Rs 1783 crore, lower than Rs 1945.50 crore on Thursday, 24 May 2012.

Positive 1477 Negative 1242 Unchanged 117
From the 30 share Sensex pack, 16 rose and rest fell.

LPG, diesel price increase doubtful at present

The state admin has been hesitant to increase LPG as well as diesel price urgently whereas they have been planning to make an initial petrol price rollback at present.

GSM service providers get 6.50 million subscribers more last April

With total GSM users of 664.08 million last March, the GSM telecom service providers augmented 6.50 million users last month thus, raising the entire subscriber base to 670.57 million.

Suzlon Energy expects utmost USD 200 million from selling assets in FY13

Suzlon Energy of India announced that it has been aiming to accumulate USD 100-200 million through divestment of certain "non-critical" assets in the current financial year to trim its arrears worth USD 2 billion.

Bharti augments 2.01 million mobile subscribers last April

The leading cellular phone service provider of India, Bharti Airtel, announced that it was able to augment 2.01 million mobile subscribers last month for a total of 183.3 million in the nation.

BHEL eyes order inflow in FY13 to come in utmost 15,000 Megawatts

Bharat Heavy Electrical Ltd or BHEL has made an announcement that it is looking forward to obtain order inflow to be in the range of 14,000-15,000 megawatt (MW) in the current financial year.

Sony parts way with merger partner Sharp for sale of LCDs

Sony Corp, an electronics major, as well as Sharp Corp already revealed about the conclusion of their shared business enterprise for manufacturing along with putting on sale huge-sized LCDs or liquid crystal displays for TV sets.

German, Canada companies expect Reliance Capital’s biz stake

HDI-Gerling International Holdings, an insurance firm based in Germany, as well as Intact Insurance, a firm based in Canada, are already considered as leading competitors to acquire 26% equity shares in Reliance Capital’s non-life insurance subsidiary.

Jet Airways eyes improved results in Q1 FY13

Jet Airways, the largest private carrier of India, has been looking forward to obtain improved results in the first quarter of the present financial year according to its senior vice-president for finance, M Shivkumar.

Reserve Bank of India may still opt to sell dollars to oil firms

The Reserve Bank of India or RBI revealed about it choice to put on sale dollar straight to government oil firms, according to the statement made by Duvvuri Subbarao this day.

Jet Airways gets favor amid downturn in Air India, Kingfisher

Jet Airways got the best deal during the downturn in Air India as well as Kingfisher Airlines whereas the firm has been planning to make an order utmost 100 narrow-body airplanes in the current fiscal year.

Ashiana Housing acquires 4,154 square meters land in Rajasthan

In the latest development, Ashiana Housing, a real estate company, announced this day that it already bought above 4,154 square meters of land located in Rajasthan for the development of residential venture in that place.

Bharti Airtel to acquire 49% stake in Qualcomm India broadband unit

The largest cellular phone operator of India, Bharti Airtel, announced this day that it already sealed a deal to acquire 49% equity shares in Qualcomm Inc's fourth-generation or 4G broadband subsidiary in India worth USD 165 million.

Exide Industries increases prices of car battery by 2.5%

Exide Industries’ shares accelerated by 2.5% following its announcement that it already increased prices of automotive battery by 2.5% wherein it will take effect on the first day of June.

BSE Sensex hikes 1.72% as market accelerates

The BSE Sensex jumped 274.20 points or 1.72% to settle at 16,222.30, its highest closing level since 15 May 2012. The index jumped 304.27 points at the day's high of 16,252.37 in late trade. The index fell 13.33 points at the day's low of 15,934.77 in morning trade.

The S&P; CNX Nifty jumped 85.75 points or 1.77% to settle at 4,921.40, its highest closing level since 15 May 2012. The index hit a high of 4,931.90 and a low of 4,830.15 in intraday trade.

The BSE Mid-Cap index rose 0.76% and the BSE Small-Cap index rose 0.75%. Both these indices underperformed the Sensex.

The total turnover on the BSE amounted to Rs 1938 crore, higher than Rs 1821.04 crore clocked on Wednesday.

Positive 1544 Negative 1140 Unchanged 126
From the 30 share Sensex pack, 24 rose and rest fell.

Tanishq eyes low expansion rate of 30% in FY13

The Vice President for Retail and Marketing of Tanishq, a jewellery retailing unit of Titan Industries, Sandeep Kulhalli, announced that they have been looking forward to expand at a low pace 30% in the current financial year.

Government increases SDS interest rate to 8.8% in FY13

The state admin already raised interest rates on State Provident Funds as well as Special Deposit Scheme or SDS in the financial year 2012-2013 wherein the rate should come in at 8.8% from 8.6% at present.

Puravankara eyes to launch 5 new projects in FY13

The COO of Puravankara Projects, Jackbastian Nazareth, announced that they have been aiming to introduce 5 fresh ventures in the financial year 2012-2013 in key market cities such as Bangalore, Chennai, Coimbatore, Mangalore and Mysore.

Manufacturers recalling power-inefficient aircon, fridge looms

In the latest statement made by the Bureau of Energy Efficiency or BEE, the manufacturing firms of air-conditioners as well as refrigerators will most probably recall merchandises in the near future when discovered power inefficient.

Standard Chartered Bank expects Q4 GDP of India at 6%

The GDP growth of India was predicted by Standard Chartered Bank to come in only at 6% in the January-to-March quarter which is below from the past approximations in the range of 6.5-7%.

Amway India expects turnover worth Rs 2,500 crore this year

Bhuvan Kapoor, the Vice President of Amway India, a top direct selling firm, announced this day that they have been looking forward to obtaining Rs 2,500 crore turnover in the current calendar year.

Opto Circuits eyes revenue growth of 20% this FY13

In the latest development, the head of finance of Opto Circuits, V Bhaskar, announced that they have been looking forward to obtain revenue expansion of 20% in the financial year 2012-2013.

Direct dollar sales by Reserve Bank of India to oil companies likely

The chief economic adviser to the prime minister announced this day that following the rupee slumped to a historical loss, dollars’ direct sales by the Reserve Bank of India must not be neglected to government-managed oil firms.

Government requires petrol prices hike soon

The Chairman of Prime Minister's Economic Advisory Council, C Rangarajan, made an announcement this day that the government will require to increase petrol prices as soon as possible to resolve fiscal deficit issues.

Talwalkars eyes to sustain growth rate at 30-35% in FY13

The chief financial officer of Talwalkars Better Value Fitness, Anant Gawande, announced that in the current fiscal year, they are optimistic to sustain growth rate in the range of 30-35% onwards.

Idea Cellular reduces fees utmost 70% for 3G services

After Bharti Airtel, the industry leading firm, acted to reduce tariff, Idea Cellular, the unit of Aditya Birla Group, announced this day that they have reduced fees by utmost 70% for 3G services.

Jhunjhunwala acquires Rs 26 crore worth of shares in A2Z Maintenance

Rakesh Jhunjhunwala, an investor with billions of assets, as well as Rekha, his better half, announced this day that they already purchased 26.5 lakh shares of A2Z Maintenance and Engineering Services which is valued above Rs 26 crore.

Sony India to invest Rs 450 crore in advertising this FY13

Masaru Tamagawa, the managing director of Sony India, announced this day that they are set to invest Rs 450 crore in advertising in the current financial year to boost sales.

BSE Sensex slides 0.49% as market still on decline

The BSE Sensex shed 78.31 points or 0.49% to 15,948.10, its lowest closing level since 9 January 2012. The index fell 179.38 points at the day's low of 15,847.03 in early afternoon trade. The index declined 24.38 points at the day's high of 16,002.03 in afternoon trade.

The S&P; CNX Nifty was down 24.85 points or 0.51% to 4,835.65, its lowest closing level since 12 January 2012. The index hit a low of 4,803.95 and a high of 4,853.75 in intraday trade.

The BSE Mid-Cap index fell 0.41% and outperformed the Sensex. The BSE Small-Cap index declined 0.58% and underperformed the Sensex.

The total turnover on the BSE amounted to Rs 1812 crore, lower than Rs 1854.65 crore on Tuesday, 22 May 2012.

Positive 1095 Negative 1618 Unchanged 114
From the 30 share Sensex pack, 20 fell and rest rose.

BSE Sensex slumps 0.97% as market plunges

The BSE Sensex lost 156.85 points or 0.97% to settle at 16,026.41, its lowest closing level since 9 January 2012. The index jumped 183.46 points at the day's high of 16,366.72 in early trade, its highest level since 15 May 2012. The index declined 182.42 points at the day's low of 16,000.84 in late trade.

The S&P; CNX Nifty shed 45.55 points or 0.93% to settle at 4,860.50, its lowest closing level since 16 May 2012. The index hit a high of 4,956.35 in intraday trade, its highest level since 14 May 2012. The index hit a low of 4,849.90 in intraday trade.

The BSE Mid-Cap index declined 0.59% and the BSE Small-Cap index dropped 0.68%. Both these indices outperformed the Sensex.

The total turnover on the BSE amounted to Rs 1844 crore, higher than Rs 1579 crore on Monday, 21 May 2012.

Positive 1565 Negative 1082 Unchanged 128
From the 30 share Sensex pack, 26 fell and rest rose.

Pfizer eyes to introduce 15 fresh products this FY13

Pfizer, a pharmaceutical leading firm, has announced this day that it has been looking forward to introduce 15 fresh merchandises in the financial year 2012-2013, according to its managing director Kewal Handa.

Microfinance Institutions (Development and Regulation) Bill 2012 introduced today

The Microfinance Institutions (Development and Regulation) Bill 2012 was already made public this day wherein some amendments were made to the previous Bill passed last March five years ago.

OECD sees economic growth of India to rise above 7.5% in FY13

In the latest development, the OECD has made an announcement this day that the economic growth of India will most probably increase to over 7.5 percent in the current financial year.

OECD sees economic growth of India to rise above 7.5% in FY13

In the latest development, the OECD has made an announcement this day that the economic growth of India will most probably increase to over 7.5 percent in the current financial year.

Alcock Ashdown Gujarat gets nod for 100% stake sale

The shipbuilding firm of India, Alcock Ashdown Gujarat Ltd or AAGL, announced that it already received permission from the state admin of Gujarat for selling its whole equity stake wherein consultants were assigned for the assessment.

Reserve Bank recommends stringent standards for overseas investments by India

The Reserve Bank of India has already made a recommendation on strict standards concerning overseas direct investments or ODI by India Inc wherein it has been planning for ODI’s multi-layered business structures.

Aollo Tyres makes investment worth USD 35 million in South African biz

ApolloTyres announced that it already launched a latest component preparation business at its tyre production refinery in Ladysmith, South Africa wherein a total amount of USD 35 million has been invested for it.

Vijaya Bank expects CDR cases to increase this FY13

HS Upendra Kamath, the chairman of Vijaya Bank, announced that he expects the corporate debt restructuring or CDR cases in the financial year 2012-2013 to increase on back of high pressure.

Nalco eyes aluminium prices in the range USD 2,100-2,300 per tonne this FY13

National Aluminium Company or Nalco, a firm managed by the government, announced that it has been looking forward for aluminium prices to come in the range of USD 2,100-2,300 per tonne in the current financial year.

Phillips 66 technology chosen by Reliance Industries for Jamnagar refineries

Reliance Industries announced this day that it already chose the technology of Phillips 66, a firm from Houston, in order to develop the gasification refineries to be located in Jamnagar.

77% holdings in Thomas Cook’s India biz sold to Fairfax

Fairfax Financial Holdings of Canada is set to acquire the 77% stake in the Indian unit of Thomas Cook Group Plc which is worth more or less USD 150 million.

Rs 150 per share set by Speciality Restaurants for its IPO

Speciality Restaurants announced that it already set the price for its IPO at Rs 150 each equity share of the 11,739,415 equity shares initial public offering with face value worth Rs 10 for every share.

Jain Irrigation to make investment worth Rs 2,000 crore in Africa

Jain Irrigation Systems announced this day that they are set to make investment in African nations such as Nigeria, Kenya and Rwanda worth USD 375 million, which is around Rs 2,000 crore, in the coming years.

Essar Oil seals bitumen supply deal with Larsen & Toubro

Essar Oil made an announcement this day that it has already sealed a deal with Larsen & Toubro or L&T;, an engineering and construction firm, to provide above standard bitumen.

Cummins India eyes energy generation venture to have sustained growth

Cummins India’s chief financial officer, Rajiv Batra, announced that the energy generation venture made an emphatic rebound in the last quarter of FY12 and hopes it will be sustained as they obtained net profit worth Rs 144 crore.

Nasscom worried about US visa investigation on Indian firms

In the latest development, Nasscom, the I.T. services industry regulator of India, announced that they worry about the latest investigation by the United States versus other Indian firms regarding US visa.

Manappuram General Finance eyes year of consolidation this FY13

Manappuram General Finance’s managing director, I Unnikrishnan, announced that they are hoping that the financial year 2012-2013 would turn out to be a year of consolidation after surpassing their growth prediction with 83.3% in the last quarter of FY12.

City Union Bank eyes over 3.3% NIMs onwards

The managing director and chief executive officer of City Union Bank, Dr N Kamakodi, revealed that they are looking forward to sustain NIMs over 3.3% in the current financial year after obtaining net profit at Rs 71.98 crore in the final quarter of FY12.

Reliance Capital eyes break even for its general insurance unit in FY13

The chief executive of Reliance Capital, Sam Ghosh, announced that their general insurance unit has been predicted to break even in the current financial year as they obtained revenues worth above Rs 6,500 crore in the last financial year.

HT Media expects company growth by 16-17% in FY13

HT Media’s chief executive officer, Rajiv Verma, has announced that they have been looking forward to obtain growth by 16-17% in the current financial year with contributions from Hindi ventures.

Canon to increase prices utmost 5% starting June

Alok Bharadwaj, the Senior Vice-President of Canon India, announced that they are planning to increase non-camera products prices utmost 5% starting next month as they look forward to obtain 45% increase in sales this current financial year.

TCPL eyes business expansion in FMCG sector

TCPL Packaging announced that it has been aiming to expand its businesses in FMCG sector particularly the in the flexible packaging segment, according to Saket Kanoria, the firm’s managing director.

IPO documents submitted by Rashtriya Ispat Nigam with SEBI

Rashtriya Ispat Nigam or RINL, a firm managed by the government, most probably be the number one IPO or initial public offer which is planned by the state admin to introduce in the current financial year wherein it already submitted DRHP with SEBI.

BSE Sensex increases 0.19% as market in upbeat mode

The BSE Sensex advanced 30.51 points or 0.19% to settle at 16,183.26, its highest closing level since 15 May 2012. The index jumped 145.64 points at the day's high of 16,298.39 in mid-afternoon trade. The index fell 3.14 points at the day's low of 16,149.61 in late trade. 

The S&P CNX Nifty rose 14.60 points or 0.3% to settle at 4,906.05, its highest closing level since 15 May 2012. The index hit a high of 4,937.50 and a low of 4,888.50 in intraday trade. 

The BSE Mid-Cap index rose 0.41% and the BSE Small-Cap index gained 0.99%. Both these indices outperformed the Sensex. The total turnover on the BSE amounted to Rs 1572 crore, lower than Rs 2024.18 crore clocked on Friday, 18 May 2012. 

Positive 1643 Negative 1027 Unchanged 130 
From the 30 share Sensex pack, 16 rose and rest fell.

Aditya Birla to acquire 27.5% stake in Living Media India

Aditya Birla Group announced this day that it is set to acquire 27.5% stake in Living Media India Ltd, which is its holding subsidiary. However, the value of acquisition was not revealed.

SpiceJet ranks third in airline industry in April, dislodges Air India

SpiceJet, a low-cost carrier in India, managed to rank number three in the airline industry last April on back of Air India, the local airline, losing its share in the market during the month.

Around 300 investors, industrialists attend Kerala investor conference

A conference was conducted by the aegis of Kerala State Industrial Development Corporation (KSIDC) and DIC wherein around 300 investors as well as industrialists from Ernakulam, Alappuzha and Thrissur districts participated in the said event.

Union Bank reduces rates on home loans

Union Bank of India, a government managed firm, announced this day that it already reduced home loans interest to its base rate in choice instance wherein it can be applied to current borrowing clients on floating rates.

Suzlon in final stages of accruing USD 300 million for FCCBs repayment

Suzlon Energy, a wind turbine manufacturing firm, announced this day that it has been in the final stages to accumulate utmost USD 300 million from the latest refineries to achieve requirement for foreign currency convertible bonds or FCCB obligations next month.

BSE Sensex accelerates 0.51% as market soars high again

The BSE Sensex jumped 82.27 points or 0.51% to settle at 16,152.75, its highest closing level since 15 May 2012. The index rose 135.87 points at the day's high of 16,206.35 in late trade. The index fell 260.77 points at the day's low of 15,809.71 in mid-morning trade, its lowest level since 9 January 2012. 

The S&P CNX Nifty advanced 21.25 points or 0.44% to settle at 4,891.45, its highest closing level since 15 May 2012. The index hit a high of 4,908.50 in intraday trade. The index hit a low of 4,788.95 in intraday trade, its lowest level since 10 January 2012. 

The BSE Mid-Cap index fell 0.27% and the BSE Small-Cap index declined 0.24%. Both these indices underperformed the Sensex. BSE clocked turnover of Rs 2017 crore, higher than Rs 1847.18 crore on Thursday, 17 May 2012. 

Positive 1228 Negative 1464 Unchanged 122 
From the 30 share Sensex pack, 19 rose and rest fell.

Land-acquisition proposals hamper debate of industry says Seshasayee

National Advisory Committee member NC Saxena along with the ex-president of CII and the executive vice-chairman of Ashok Leyland, R Seshasayee, gave their standpoints concerning the proposals on land purchases by the Standing Parliamentary Committee.

L&T; Construction receives orders worth Rs 2,592 crore

In the latest development, L&T; Construction's Building & Factories IC announced this day that it already obtained latest orders which are worth Rs 2,592 crore in the quarter one of the financial year 2012-2013.

Coromandel expects in FY13 a soaring 30-40% production rate

The managing director of Coromandel International, Kapil Mehan, has announced that they are looking forward to achieve more or less a soaring 30-40% production rate in the financial year 2012-2013.

Consumer price inflation soars 10.36% in April says Nomura

Sonal Varma of Nomura Financial Advisory & Securities announced that the consumer price inflation of India soared high last April with a growth rate of 10.36% as a reflection of food inflation rise.

Lupin eyes improved growth from United States next fiscal year

Lupin, the pharmaceutical leader, already introduced in the market a medicine for curing HIV, Combivir Generic, according to the chief financial officer of the firm, S Ramesh, as they aim to attain improved growth from United States in the following financial year.

Aurobindo, Dr Reddy’s receives US FDA approval for generic cardiac tablet

Aurobindo Pharma, Dr Reddy’s Laboratories as well as other pharmaceutical firms already obtained permission from the US FDA or Food and Drugs Administration to put on sale Clopidogrel drugs’ generic edition.

Reserve Bank of India against improving QFI assets

The Reserve Bank of India or RBI revealed that it has been opposing the recommendation of the finance ministry of forming a separate limit of USD 10 billion for QFI or qualified foreign investors assets in company bonds.

Standing Committee on Land Acquisition forwards report in Parliament

The Standing Committee on Land Acquisition announced that it already forwarded its report in Parliament this day as it reported government purchases just intended for social welfare ventures without getting profit from it.

Kingfisher Airlines makes Rs 15 crore payment to Income-Tax Department

In the latest development, Kingfisher Airlines made an announcement that it has already given payment to the Income-Tax Department which is worth Rs 15 crore with a pending Rs 50 crore dues.

Morgan Stanley eyes added 50 bps slash in repo rates by end of FY13

Chetan Ahya of Morgan Stanley has been looking forward for Reserve Bank of India to reduce rates in the current financial year amidst the alarming growing prices of vegetables last April as the central bank most probably to reduce repo rates by 50 bps at the conclusion of the present fiscal year.

Zee News eyes 20% FY13 subscription revenue increase

The chief executive officer of Zee News, Barun Das, has already announced that they have been looking forward to obtain subscription revenue expansion of 20% in the financial year 2012-2013.

Cairn acquisition improves core profit of Vedanta

Vedanta, the mining firm based in India, obtained a 13 percent increase in core profit in the financial year 2012-2013 wherein its zinc businesses together with its latest addition unit Cairn India contributed compensate the effect of a regional mining prohibition on its vital iron ore businesses.

Bajaj Auto’s 20.6% Q4 profit margin tops industry

The top two biggest motorcycle manufacturer of India, Bajaj Auto Ltd, sustained its profit margins which topped the industry with 20.6 percent in the last quarter of the previous financial year.

Bharti Airtel reduces 3G mobile data fees in India

The leading cellular phone service provider of India, Bharti Airtel, today already reduced prices of its mobile data services in 3G or third generation by more or less 70 percent in accordance to its schemes.

Reliance Industries to modify KG-D6 gas price at USD 4.2 per mmbtu with government

Reliance Industries or RIL has been planning to modify its KG-D6 gas price at USD 4.2 per mmbtu or million British thermal units in a span of two years upon their agreement with the government.

Pranab Mukherjee aims to end concern in wage issue of IDBI

Pranab Mukherjee, the Finance Minister, announced this day that he is planning to create resolution for the wage modification concern in IDBI immediately after the present session of Parliament comes to an end.

Whirlpool not seeing abrupt growth in consumer durables

According to Shantanu Dasgupta of Whirlpool of India, the current summer season already hindered the consumer durables industry growth. However, he is not looking forward at an abrupt rebound in the near future.

BSE Sensex soars 0.25% as market in upsurge

The BSE Sensex advanced 40.39 points or 0.25% to settle at 16,070.48, its highest closing level since 15 May 2012. The index jumped 210.09 points at the day's high of 16,240.18 in mid-morning trade. The index fell 22.17 points at the day's low of 16,007.92 in mid-afternoon trade. 

The S&P CNX Nifty rose 11.95 points or 0.25% to settle at 4,870.20, its highest closing level since 15 May 2012. The index hit a high of 4,922.25 in intraday trade. The index hit a low of 4,850.20 in intraday trade. 

The BSE Mid-Cap index rose 0.02% and the BSE Small-Cap index gained 0.09%. Both these indices underperformed the Sensex. BSE clocked turnover of Rs 1797 crore, lower than Rs 1847.18 crore on Wednesday, 16 May 2012. 

Positive 1340 Negative 1368 Unchanged 134 
From the 30 share Sensex pack, 16 fell and rest rose.

BSE Sensex fumbles deep 1.83% as market on lackluster performance

The BSE Sensex tumbled 298.16 points or 1.83% to settle 16,030.09, its lowest closing level since 9 January 2012. The index slumped 353.65 points at the day's low of 15,974.60 in afternoon trade. The index fell 195.57 points at the day's high of 16,132.68 in early trade. 

The S&P CNX Nifty shed 84.55 points or 1.71% to settle at 4,858.25, its lowest closing level since 12 January 2012. The index hit a low of 4,837.05 and a high of 4,882.25 in intraday trade. 

The BSE Mid-Cap index fell 0.78% and the BSE Small-Cap index dropped 1.11%. Both these indices outperformed the Sensex. 

BSE clocked turnover of Rs 1834 crore, higher than Rs 1816.58 crore on Tuesday, 15 May 2012. 

Positive 983 Negative 1733 Unchanged 115
From the 30 share Sensex pack, 28 fell and rest rose.

Gammon India eyes FY13 revenue expansion of 20%

The CFO of Gammon India, Girish Bhat, has been eyeing to achieve revenue growth of 20% in the financial 2012-2013 after receiving 8.6% EBITDA margin in the last quarter of FY12.

Aventis Pharma gets new name as Sanofi India

The listed firm of Sanofi Group in India already revealed this day that the Registrar of Companies gave its approval for the modification of the firm’s name to 'Sanofi India Ltd' from Aventis Pharma Ltd wherein the new name starts on May 11.

Welspun Group bags solar photovoltaic venture in Madhya Pradesh

The biggest solar power developing firm, of India, Welspun Group, has announced that it already bagged a deal which is worth USD 225 million for solar photovoltaic venture in Madhya Pradesh.

Reliance Industries to introduce 4G service before 2013

In the latest development, Reliance Industries or RIL has showed optimism to introduce its gadgets which are compatible with 4G or fourth generation wireless broadband services before the current year concludes.

India should attract private coal miners says Tata Power

According to Amulya Charan, the executive of Tata Power Company Ltd, India should attract additional private mining groups for coal reserves development wherein Coal India Ltd was not able to do.

Rakesh Jhunjhunwala acquires Prime Focus shares worth Rs 11 crore

Rakesh Jhunjhunwala, an Ace promoter, announced that it already raised his equity shares in Prime Focus through acquisition of more 25.50 lakh shares to the amount of Rs 11 crore.

Cox & Kings to accrue utmost USD 140 million

Cox & Kings, a tour operating firm, announced that it is already aiming to accumulate utmost USD 140 million for a minority stake in its British unit Prometheon Holdings (UK) Ltd from an institutional investor.

Piramal Healthcare to acquire American company for R&D; growth

Piramal Healthcare, a medicine manufacturing firm, announced that it will acquire for an amount of USD 635 million the new molecules division of Germany's Bayer's, an American-based healthcare data service firm, to expand businesses in research and development.

JSW Steel refutes unlawful mining allegations

JSW Steel’s joint managing director and group CFO, Seshagiri Rao, announced that each and every claim of unlawful iron ore mining in Karnataka is not valuable as they are ready to work together during the investigation.

Glenmark receives provisional permission from US FDA for Zolmitriptan

The U.S. generic unit of Glenmark Pharma, already obtained provisional permission from US FDA or Food and Drugs Administration for Zolmitriptan, a generic version of ZomigZMT drug of AstraZeneca.

IPO of Speciality Restaurants introduces IPO this day

Speciality Restaurants, a firm that manages Mainland China, Oh! Calcutta and Sigree, already introduced its 117.4-lakh shares IPO this day wherein it has been aiming to accrue Rs 171.4 crore.

Zuari Industries makes Rs 8,000 crore investment this FY13 in urea sector

Zuari Industries, a fertilizer manufacturer, announced that it already parted ways with Zuari Holdings, the firm’s fertilizer subsidiary, as it made an investment of Rs 8,000 crore in urea sector in the current financial year.

Star Union Dai-ichi assigns Girish Kulkarni as new CEO

Star Union Dai-ichi, a private insurance firm, announced this day that it already assigned Girish Kulkarni to become its chief executive officer as well as managing director to replace Kamalji Sahay.

Government aims to slash fertilizer subsidy says Sharad Pawar

The government has been aiming to slash financial backing on fertilizers and redirect finances to organic manures, bio- fertilizers, green manures as well as advertising of organic farming, according to Sharad Pawar, the Agriculture Minister.

BSE Sensex surges 0.69% as market makes a rebound

The BSE Sensex jumped 112.41 points or 0.69% to settle at 16,328.25, its highest closing level since 10 May 2012. The index jumped 154.28 points at the day's high of 16,370.12 in afternoon trade. The index fell 92.80 points at the day's low of 16,123.04 at the onset of the trading session, its lowest level since 16 January 2012. 

The S&P CNX Nifty advanced 35 points or 0.71% to settle at 4,942.80, its highest closing level since 10 May 2012. The Nifty hit a high of 4,955.20 in intraday trade. The index hit a low of 4,868.55 in intraday trade, its lowest level since 16 January 2012. 

The BSE Mid-Cap index rose 0.63% and the BSE Small-Cap index gained 0.33%. Both these indices underperformed the Sensex. BSE clocked turnover of Rs 1808 crore, lower than Rs 1923.53 crore on Monday, 14 May 2012. 

Positive 1365 Negative 1329 Unchanged 132 
From the 30 share Sensex pack, 19 rose and rest fell.

Shares of Orchid Chemicals decline 9.9%

In the latest development, Orchid Chemicals & Pharmaceutical’s shares have declined 9.9 percent which is equivalent to Rs 125.15, wherein it is a deep plunge for two straight days.

Mahindra Satyam ready to revitalize plan on Nagpur SEZ

Mahindra Satyam, which is previously known as Satyam computer services, announced that it will breathe life into its schemes for developing a refinery in Mihan or Multi-modal International Cargo Hub and Airport at Nagpur SEZ located at Nagpur.

OIL, GAIL included in 11 firms bidding for stake in Reliance Gas

Eleven conglomerates with the inclusion of GAIL India and Oil India, the firms being managed by the government, already participated in a bid to acquire stake in Reliance Gas Transportation Infrastructure or RGTIL, a company owned by Mukesh Ambani.

Honda eyes 30% motorcycle revenue in India in 8 years

Honda Motor Co has been looking forward that India will be able to throw in 30 percent of the worldwide motorcycle revenues of the Japan-based car manufacturer in eight years time says the president of Honda’s India subsidiary, Keita Maramatsu.

Air trip originating in Delhi becomes more expensive starting this day

The Airports Economic Regulatory Authority or AERA already made a decision to increase the User Development Fee by a very massive 346 percent which will start this Tuesday onwards as air trip originating in Delhi will be more expensive.

Low expansion and soaring inflation to end by this year

In the latest statement made by Tamiur Baig of Deutsche Bank, he revealed that the risky amalgamation of low expansion as well as soaring inflation will not go on further to next year.

RBI reduces rates last April ruling against majority

Duvvuri Subarao, the Governor of the Reserve Bank of India, reduced the key interest rate by a surprising deep 50 basis point last April even though the majority recommended constant rates.

Northern Iron of Australia rejects USD 500 million offer by Aditya Birla

Northern Iron Ltd announced that it already disapproved an acquisition proposal amounting to utmost USD 500 million from Aditya Birla Group of India whereas the Australian company is welcome to a greater tender.

Maharashtra govt eye merger deals with private land owners

The Maharashtra state admin already made a decision to sign a merger deal with independent land owners wherein private real estate owners having above 2,000 square meters of realty are privileged to coordinate with MHADA about renting says Sachin Ahir, the Minister of State for Housing.

Mumbai residential costs witness only decline in 4 years

Knight Frank, a consultancy conglomerate, announced that the costs of residential real estates in Mumbai slumped 9.1% in the previous financial year wherein the initial price that began in 2008 predicament.

SREI eyes nearly 30% loans growth

The vice-chairman of SREI Infrastructure, Sunil Kanoria, revealed that the stress on margins is set to be carried on back of market-to-market forex deficits as they eye nearly 30% loans growth.

Orchid Chemicals expects growth in FY13 by 15-20%

The chairman and managing director of Orchid Chemicals, K Raghavendra Rao, announced that the firm’s topline and bottomline were influenced by the repayment of FCCB or Foreign Currency Convertible Bonds as they expect 15-20% growth in the current financial year.

Future Generali obtains 53% growth total premium collection in FY12

The managing director and CEO of Future Generali India Insurance, KG Krishnamoorthy Rao, announced that they obtained expansion of 53% total premium collection to the amount of Rs 936 crore in the financial year 2011-2012.

BSE Sensex declines 0.47% as market slips again

The BSE Sensex lost 77.14 points or 0.47% to settle at 16,215.84, its lowest closing level since 16 January 2012. The index declined 168.16 points at the day's low of 16,124.82 in late trade. The index rose 97.35 points at the day's high of 16,390.33 in morning trade. 

The S&P CNX Nifty lost 21.10 points or 0.43% to settle at 4,907.80, its lowest closing level since 16 January 2012. The index hit a low of 4,874.50 in intraday trade. The Nifty hit a high of 4,957.20 in intraday trade. 

The BSE Mid-Cap index fell 1% and the BSE Small-Cap index declined 1.26%. Both these indices underperformed the Sensex. BSE clocked turnover of Rs 1823 crore, lower than Rs 19233.53 crore on Friday, 11 May 2012. 

Positive 1047 Negative 1657 Unchanged 117 
From the 30 share Sensex pack, 15 fell and rest rose.

Videocon expects better growth for consumer durables by July

The chairman and managing director of Videocon, Venugopal Dhoot, announced that the growth of consumer durables segment only increased by 0.2 percent while hoping that it will perform better by July.

Sony shares slumps above 7%

The shares in Sony Corp, the Japanese consumer electronics major, plummeted above 7% which is the lowest in almost 32 years as promoters were pessimistic that the firm has a plan to improve its TV ventures and contend in the smartphone market.

Dewan Housing’s net interest income increases 43.58%

In the latest development, the chairman and managing director of Dewan Housing Finance Corporation or DHFL, Kapil Wadhawan, announced that the firm’s net interest income increased 43.58%.

Supreme Court mandates CBI investigation versus JSW Steel

The Supreme Court made a mandate for an investigation by the CBI versus JSW Steel, the top three steel manufacturing firm of India, and two more conglomerates for claimed connection in unlawful iron ore mining in Karnataka’s southern state.

Jaguar Land Rover to invest 1 billion pound more

Jaguar Land Rover, the British luxury auto division of Tata Motors, announced that it is set to invest another 1 billion pound on sourcing from British vendors until 2016 after getting huge sales for its Range Rover Evoque.

Electrical equipment industry absorbs 6.6% expansion in FY12 says IEEMA

In the latest statement released by IEEMA or Indian Electrical and Electronics Manufacturers Association, the domestic electrical equipment industry has just attained 6.6% expansion in the previous financial year.

Indian Bank eyes NIMs at 3.2% in FY13

The chairman and managing director of Indian Bank, TM Bhasin, announced that they have been looking forward to obtain more or less 3.2 percent NIM in the financial year 2012-2013.

Kotak Bank maintains 6.7% GDP forecast

Kotak Mahindra Bank has made an announcement that no plan has been made to modify their 6.7% GDP prediction for the financial year 2012-2013, according to Indranil Pan, a chief economist.

Ashok Leyland increases prices by 5%

Ashok Leyland, the top two truck and bus producer of India, has already increased its prices by 5 percent following the excise duty has been increased by the same figure in the federal Budget last March.

Speciality Restaurants eyes IPO launching this May 16

Speciality Restaurants, a fine dining service provider, announced that it is set to introduce its IPO of 1,17,39,415 equity shares with face value worth Rs 10 for every share this coming May 16.

Monarch Health Services eyes to launch IPO on May 12

Monarch Health Services, the skin care and cosmetics clinics chain conglomerate, has been planning to launch an IPO of 30 lakh equity shares wherein the issue price is set to Rs 40 per share on May 12, 2012.

BSE Sensex slumps 0.77% as market fumbles

The BSE Sensex lost 127.07 points or 0.77% to settle at 16,292.98, its lowest level since 16 January 2012. The index rose 27.19 points at the day's high of 16,447.24 in mid-afternoon trade. The index lost 186.29 points at the day's low of 16,233.76 in mid-morning trade. 

The S&P CNX Nifty shed 36.80 points or 0.74% to 4,928.90, its lowest level since 16 January 2012. The Nifty hit a high of 4,976.25 in intraday trade. The index hit a low of 4,906.15 in intraday trade. 

The BSE Mid-Cap index fell 0.83% and the BSE Small-Cap index fell 0.91%. Both these indices underperformed the Sensex. 

The total turnover on BSE amounted to Rs 1915 crore, slightly lower than Rs 1941.62 crore clocked on Thursday, 10 May 2012. 

Positive 1012 Negative 1796 Unchanged 130 
From the 30 share Sensex pack, 22 fell and rest rose.

SPAR, its India merger eye to demerge by December

SPAR International BV, a Dutch food retailing firm, and its merger firm in India already made a decision to demerge at the end of their contract by December as both of them will continue their respective businesses independently.

Singapore Airlines eyes mergers in China, India

Singapore Airlines or SIA announced this day that it has been planning to search for prospective mergers in China as well as India, according to Goh Choon Phong, the firm’s chief executive officer.

Warbung Pincus eyes bulk stake in Future Capital

In the latest development, Warbung Pincus, the leading private equity firm, already flourished to become the leader for a bulk stake in Future Capital, a firm managed by Kishore Biyani.

Present growth rate can monetize 3% CAD says Montek

Montek Singh Ahluwalia, the Planning Commission deputy chairman, announced this day that the nation has the ability to monetize a CAD or current account deficit of 3% wherein it hit 4% in FY12.

April exports in India expand 3.2%

Rahul Khullar, the Commerce Secretary, announced this day that the exports have expanded to USD 24.5 billion which is 3.2% last April whereas the imports managed to increase 3.8%.

Economy to expand 7.6% in FY13 says Basu

In the latest statement made by the finance ministry’s chief economic adviser, Kaushik Basu, the economy of India is set to expand 7.6% in the financial year 2012-2013 after its 6.9% growth in FY12.

Apple, vendor Foxconn to mutually develop refineries in China

Apple Inc along with its major vendor Foxconn Technology Group is set to share the early costs of developing working conditions at the Chinese refineries which make assemblies of iPhones as well as iPads.

Fast Train Cargo submits IPO documents with SEBI

Fast Train Cargo, a firm that deals with logistic services, already submitted its DRHP with SEBI for its 52.83 lakh equity shares IPO having a face value amounting to Rs 10 for every share.

ArcelorMittal eyes greater returns in the second quarter of FY13

ArcelorMittal, the biggest steel manufacturer in the world, made a prediction of much greater profit in the second quarter following astonishingly huge revenues in the first quarter of the current financial year.

BSE Sensex topples 0.36% as market tumbles

The BSE Sensex shed 59.53 points or 0.36% to settle at 16,420.05, its lowest closing level since 16 January 2012. The index fell 102.56 points at the day's low of 16,377.02 in late trade. 

The index jumped 192.73 points at the day's high of 16,671.81 in early afternoon trade, its highest level since 8 May 2012. 

The S&P CNX Nifty lost 9.10 points or 0.18% to settle at 4,965.70, its lowest closing level since 18 January 2012. The Nifty hit a low of 4,950.30 in intraday trade. The index hit high of 5,039.30 in intraday trade, its highest level since 8 May 2012. 

The BSE Mid-Cap index rose 0.06% and outperformed the Sensex. The BSE Small-Cap index fell 0.24% and outperformed the Sensex. The total turnover on BSE amounted to Rs 1928 crore, lower than Rs 2069.31 crore on Wednesday, 9 May 2012. 

Positive 1239 Negative 1524 Unchanged 145 
From the 30 share Sensex pack, 20 fell and rest rose.

Auto sales in April increase 3.4% YoY

The Indian auto sales have increased a yearly 3.4% last April wherein it registered a monthly growth for six straight times following the nation increased excise tax on the autos.

Ajit Singh reveals Air India, Indian airlines JV not proper

Ajit Singh, the Civil Aviation Minister, revealed that the joint venture of Air India and India Airlines is not proper since the judgment for the shared business enterprise resulted to predicaments.

Power ministry eyes elimination of coal FSA

The energy producing firms will most probably not sign the FSAs even if they are current at present while the Power Ministry has been aiming to ask for the elimination of coal FSA.

IRB expects no abrupt stress on operating margins

The chairman and managing director of IRB Infra, V D Mhaiskar, announced that they have sustained margins as they do not expect abrupt stress on operating margins. The firm obtains mean cost of capital at 11.25%.

Tax liability of Vodafone about Rs 20,000 crore says RS Gujral

In the latest statement made by RS Gujral, the Finance Secretary, he revealed that the tax liability of Vodafone has been noticed to come in more or less Rs 20,000 crore.

Reliance Industries accrues USD 2 billion loan covered by Euler Hermes

Reliance Industries Limited or RIL already sealed a loan worth USD 2 billion with nine banking firms wherein it got coverage from Euler Hermes Deutschland AG in Germany during the first few days of the current week.

Government instigates lawful move versus Kingfisher

According to Ajit Singh, the Civil Aviation Minister, lawful action has been initiated versus Kingfisher wherein only two leading Indian airlines, IndiGo and Go Air, did not evade payment on airport fees as compared to the other carriers.

Tata Coffee acquiring brands or firms looms

The managing director of Tata Coffee, Hameed Hug, announced that the prices for Arabica were decreased to 180 cents from 270 cents for every pound as they most probably acquire for brands or firms this financial year.

Glenmark eyes expansion in Indian market this FY13

The Managing Director and Chief Executive Officer of Glenmark Pharmaceuticals, Glenn Saldanha, announced that its U.S. subsidiary, with contributions from malarone and cutivate sales, rebounded in the last quarter of FY12 as they eye expansion in Indian market this FY13.

BSE Sensex stumbles 0.4% as market falls over

The BSE Sensex lost 66.60 points or 0.4% to settle at 16,479.58, its lowest closing level since 18 January 2012. The index fell 123.25 points at the day's low of 16,422.93 in late trade. The index rose 69.56 points at the day's high of 16,615.74 in mid-morning trade. 

The S&P CNX Nifty shed 25.15 points or 0.5% to settle at 4,974.80, its lowest closing level since 18 January 2012. The index hit low of 4,956.45 and a high of 5,016.25 in intraday trade. 

The BSE Mid-Cap index fell 0.98% and the BSE Small-Cap index declined 1.23%. Both these indices underperformed the Sensex. 

The total turnover on BSE amounted to Rs 2051 crore, slightly lower than Rs 2066.68 crore clocked on Tuesday, 8 May 2012. 

Positive 936 Negative 1796 Unchanged 124 
From the 30 share Sensex pack, 22 fell and rest rose.

India granted 4G spectrum to Qualcomm

Qualcomm Inc, a chip manufacturing firm based in U.S., has already received offering from India to receive 4G broadband spectrum in almost a two-year span after receiving payment in an auction which is worth USD 1 billion.

PNB eyes 3.5% net interest margins onward

According to the chairman of Punjab National Bank or PNB, KR Kamath, they have been expecting to achieve NIM or net interest margins at 3.50% onward after recording Rs 1,424 net profit in Q4 FY12.

NIIT eyes to sustain 15% FY13 margins

The CEO of NIIT, Vijay Thadani, announced that they have been aiming to expand to the markets in Europe and U.S. as well as India while they are optimistic to sustain 15% margins in the current financial year.

Tribhovandas Bhimji Zaveri opens session at Rs 115 per share

Tribhovandas Bhimji Zaveri or TBZ, a jewellery retailing firm based in Mumbai, announced that the initial share price during the early session stood at Rs 115 which is 4% below the issue price per share worth Rs 120.

Suzlon Group bags project worth Rs 305 crore from GMDC

Suzlon Energy, the wind turbine manufacturing firm, announced that it already sealed a deal to the amount of Rs 305.32 crore with Gujarat Mineral Development Corp or GMDC for a wind power venture that can produce 50 megawatts.

Laura Papi of IMF eyes GDP growth of 7%

In the latest development, the assistant director of Asia and Pacific department of IMF, Laura Papi, has been looking forward for India to attain 7% GDP growth in the financial year 2012-2013.

DB Corp eyes FY13 advertising increase of 20%

The director of DB Corp, Girish Agarwaal, announced that they have been looking forward in order to obtain an increase of 20% in its advertising in the financial year 2012-2013.

Air India asks tenders to accrue utmost USD 800 million in arrears

Air India, a firm being operated by the government, announced that it already gave invitations for tenders from banks to accrue utmost USD 800 million by means of external commercial borrowing as well as bridge financing.

Cipla mulls price reduction on other cancer medicines

According to the chairman and managing director of Cipla, YK Hamied, the generic medicine manufacturer has been planning to reduce costs of many cancer medicines following reduction of costs of three drugs by utmost 75% in the previous week.

Reliance Industries reduces gas reserves approximate by 6.7%

In the latest development, Reliance Industries, a power company, announced that it already reduced approximates for confirmed gas reserves by 6.7% to 3.67 trillion cubic feet located in its Indian blocks.

BSE Sensex slides 2.17% as market plummets

The BSE Sensex tanked 366.53 points or 2.17% to settle at 16,546.18, its lowest closing level since 18 January 2012. The index lost 409.80 points at the day's low of 16,502.91 in late trade. The index rose 5.60 points at the day's high of 16,918.31 in early trade. 

The S&P CNX Nifty tumbled 114.20 points or 2.23% to settle at 4,999.95, its lowest closing level since 18 January 2012. The index hit a low of 4,983.60 and a high of 5,119.95 in intraday trade. 

The BSE Mid-Cap index declined 1.28% and the BSE Small-Cap index fell 0.87%. Both these indices outperformed the Sensex. 

The total turnover on BSE amounted to Rs 2108 crore, higher than Rs 2066.68 crore clocked on Monday, 7 May 2012. 

Positive 1052 Negative 1688 Unchanged 132 
From the 30 share Sensex pack, 25 fell and rest rose.

Tribhovandas Bhimji Zaveri schedules listing of shares on Wednesday

Tribhovandas Bhimji Zaveri, a jewellery retailing firm, announced that its equity shares are scheduled for listing on May 9, Wednesday, as the firm set its issue price at Rs 120-126 per share. Its IPO is worth Rs 200 crore.

BSE Sensex gains 0.48% as market grows

The BSE Sensex advanced 81.63 points or 0.48% to settle at 16,912.71, its highest closing level since 3 May 2012. The index jumped 113.05 points at the day's high of 16,944.13 in late trade. 

The index slumped 317.31 points at the day's low of 16,513.77 in morning trade, its lowest level since 18 January 2012. 

The S&P CNX Nifty advanced 27.30 points or 0.54% to settle at 5,114.15, its highest closing level since 3 May 2012. The index hit a low of 4,988 in intraday trade, its lowest level since 18 January 2012. The Nifty hit a high of 5,124.75 in intraday trade. 

The BSE mid-Cap index rose 0.52% and outperformed the Sensex. The BSE Small-Cap index gained 0.3% and underperformed the Sensex. BSE clocked turnover of Rs 2056 crore, lower than Rs 2628.94 crore on Friday, 4 May 2012. 

The market breadth, indicating the overall health of the market, turned positive from negative in late trade. 

Positive 1440 Negative 1270 Unchanged 136 
From the 30 share Sensex pack, 19 rose and rest fell.

Allahabad Bank predicts credit growth at 21%

The chairman of Allahabad Bank, JP Dua, announced that in the final quarter of the financial year 2012, NIM declined as the deposit costs increased as they aim to obtain 21% credit growth.

IPO of Plastene to be launched this May 9, 2012

Plastene India, a firm that produces jumbo bags as well as BoPP woven sacks, has been planning to introduce 92,55,290 equity shares for its IPO with Rs 10 face value for every shares this coming May 9, 2012. Each share will worth Rs 81-84.

ITNL eyes 30% EBITDA margins in FY13

ILandFS Transportation Networks or ITNL announced that it already obtained consolidated net profit worth Rs 177 crore as compared to Rs 159 crore in the previous year while predicting EBITBA margins of 30% in the following financial year.

Margins to get better in next quarters says NIIT Technologies

According to the chief executive officer of NIIT Technologies, Arvind Thakur, the rupee already increased in value as compared to the pound, dollar as well as euro while the margins will get better in the next quarters.

Investors afraid of FM’s action on GAAR says Ambit Capital

In the latest statement by Ambit Capital’s Saurabh Mukherjea, he believes that several promoters predict that the rupee is set to be down to 55-56 levels as investors are afraid of the finance minister’s action on GAAR.

Cipla medicine price slash not to greatly affect earning

The surprising 75% price slash by Cipla on its three cancer medicines namely Sorafenib, Gestinib and Temozolamide, will most probably not greatly affect the revenues of the pharmaceutical firm.

Orissa eyes 4% slash in capacity to lessen illegal mining

In the latest development, Orissa, the leading iron ore producer, has been mulling a 4% slash in its capacity to reduce illegal mining activities, according to a state admin spokesperson.

BSE Sensex slides 1.87% as market on red

The BSE Sensex was down 320.11 points or 1.87% to 16,831.08, its lowest closing level since 23 January 2012. The index declined 374.47 points at the day's low of 16,776.72 in late trade. The index fell 29.82 points at the day's high of 17,121.37 in early trade. 

The S&P CNX Nifty was down 101.55 points or 1.96% to 5,086.85, its lowest closing level since 23 January 2012. The Nifty hit a high of 5,177.20 and a low of 5,070.60. The BSE Mid-Cap index 2.15% and underperformed the Sensex. 

The BSE Small-Cap index declined 1.81% and outperformed the Sensex. BSE clocked turnover of Rs 2584 crore higher than Rs 1678.89 crore on Thursday, 3 May 2012. 

Positive 744 Negative 2070 Unchanged 100 
From the 30 share Sensex pack, 25 fell and rest rose.

Balrampur eyes Rs 31/kg sugar price increase

Vivek Saraogi, the managing director of Balrampur Chini, has been looking forward to witness few development in local costs as he eyes sugar prices to increase to Rs 31 every kilogram in a couple of months.

Titan eyes 25-30% FY13 top-line, bottom-line increase

S Subramanian, the chief financial officer of Titan Industries, announced that they have been aiming to achieve a top-line as well as bottom-line increase in the range of 25-30% in the financial year 2012-2013.

Government plans sovereign fund to acquire coal business globally

Sriprakash Jaiswal , the Coal Minister, made an announcement that the coal ministry already recommended constructing a sovereign wealth fund to acquire coal businesses internationally.

Banks might require USD 50 billion more equity

Fitch Ratings announced that banks most likely will require accruing USD 50 billion of further equity covered by Basel III capital regulations informed by RBI or Reserve Bank of India.

Go Air plans to fly 5 million passengers in FY13

The chief executive officer of Go Air, Giorgio De Roni, announced that they have been planning to have 5 million passengers in the current fiscal year wherein it is around 40% greater than the previous financial year.

Indian Railways require Rs 15,460 crore to complete 918 ventures

Bharatsinh Solanki, the Minister of State for Railways, announced that the Indian Railways require a huge amount of Rs 15,460 crore for the accomplishment of 918 ventures it owns as of the moment.

IKEA asks more verification on FDI

The chief executive officer of IKEA, a furniture and home-ware retailing firm based in Sweden, conferred with Anand Sharma, the commerce minister of India, to tackle the regulations for the FDI in single brand retail sector.

Abbot to develop nutrition R&D; center with Syngene

In the latest development, Abbot India has been aiming to construct its initial nutritional research and development center in the nation with its partner Syngene, a unit of biotechnology firm Biocon.

VIP Industries eyes topline increase by 15% in FY13

VIP Industries announced that it has been looking forward to grow in the local manufacturing sector, according to the firm’s chairman Dilip G Piramal as he predicted 15% topline increase in the current financial year.

Deutsche Bank eyed to absorb above 4% current account deficit in FY12

India Global Markets Research’s chief economist Taimur Baig revealed that Deutsche Bank admitted that their previous financial year current account loss might appear above 4% in the range of USD 80-85 billion GDP.

ONGC, Cairn ask approval for latest exploration venture in Rajasthan

Cairn India and Oil and Natural Gas Corp or ONGC already asked approval for commencing another exploration ventures in Rajasthan wherein the firms already aimed to infuse around USD 1 billion.

Airlines to absorb Rs 10,000 crore deficit in FY12

Ajit Singh, the Aviation Minister, has announced that the aviation sector most probably will be absorbing accrued deficits to the amount of Rs 10,000 crore in the financial year 2011-2012.

SL Narayanan predicts Sun Group not paying carriage fees

Amid the latest digitization rules, the group chief financial officer of Sun Group, SL Narayanan, revealed that he is optimistic that the firm will not be obliged for carriage fees payment.

Marico to slash costs for customers’ benefit

Milind Sarwate, Marico’s group chief financial officer, already announced that they have been mulling to slash costs onward in order to provide the clients the favor of plummeting raw material costs.

Taurus MF introduces Taurus Banking & Financial Fund

Taurus Mutual Fund made an announcement that Taurus Banking & Financial Services Fund, its NFO or New Fund Offer, has been launched already last May 2, 2012 to be subscribed.

Indiabulls submits OD to introduce Indiabulls MIP Gold Plus

Indiabulls Mutual Fund announced that it already submitted an offered document with SEBI to introduce Indiabulls MIP Gold Plus, a fresh open ended income plan, with a price worth Rs 10 for every unit.

Petronet to construct LNG refinery in east coast of India

Petronet LNG Ltd announced that it is set to infuse 45 billion rupees to construct an LNG or liquefied natural gas terminal on the east coast of India four years from now to satisfy the needs of the country.

VIP Industries to develop production plant in Bangladesh

VIP Industries, a luggage manufacturing firm, made an announcement that it already VIP Industries Bangladesh Pvt Ltd, the firm’s fully-owned unit, was incorporated last April 5, 2012 to construct a luggage production refinery in Bangladesh.

BSE Sensex plunges 0.87% as market declines

The BSE Sensex shed 150.72 points or 0.87% to settle at 17,151.19, its lowest closing level since 27 April 2012. The index declined 181.05 points at the day's low of 17,120.86 in late trade. The index fell 30.14 points at the day's high of 17,271.77 in early trade.

The S&P; CNX Nifty shed 50.75 points or 0.97% to settle at 5,188.40, its lowest closing level since 29 March 2012. The index hit a low of 5,180.65 and a high of 5,217.30 in intraday trade.

The BSE Mid-Cap index fell 1.02% and the BSE Small-Cap index declined 1%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 1902 crore, higher than Rs 1805.40 on Wednesday, 2 May 2012.

Positive 1719 Negative 1465 Unchanged 135
From the 30 share Sensex pack, 23 fell and rest rose.

IPO of Samvardhana Motherson Finance launched this day

Samvardhana Motherson Finance or SMFL has already introduced its IPO or initial public offer this day wherein the issue is worth Rs 1,413 crore with Rs 337.5 crore offer for sale via Radha Rani Holdings Pte Ltd.

RBI approves FCCB restructuring plan says Subex

The managing director, chief executive officer, and founder chairman of Subex, Subash Menon, announced that the RBI already gave approval on the restructuring scheme of the firm’s outstanding FCCBs or foreign currency convertible bonds.

HLL Lifecare to develop vaccine refinery in Tamil Nadu

HLL Lifecare Ltd has already announced that its unit HLL Biotech Ltd will be developing the Integrated Vaccine Complex or IVC in Tamil Nadu, which is worth Rs 504 crore.

OMCs ask government consent to export carrier fuel

In the latest development, according to the government-managed oil marketing companies or OMCs, they already asked the petroleum ministry to give them consent to export ATF or aviation turbine fuel.

KPIT eyes 32-35% dollar revenue rise in FY13

Kishor Patil, the managing director as well as chief executive officer of KPIT Cummins, announced that they have been looking forward to obtain 32-35% dollar revenue increase in the current financial year.

Bajaj Auto eyes to surpass domestic market growth

Kevin Dsa, the VP-Finance of Bajaj Auto, announced that they already achieved total sales increase at 3,81,590 units by 4% year-on-year last April as they aim to surpass domestic market increase.

TVS Motor aims to obtain 8-10% FY13 expansion

HS Goindi, the president marketing of TVS Motor Company, made an announcement that they have been looking forward to achieve between 8% and 10% increase in the current financial year.

Maruti sales increase by 3.4% last April

Maruti Suzuki, the leading passenger car manufacturer of India, already announced that it attained sales increase by 3.4% last April as compared to the same period last year which marked its fourth straight month of growth.

IPO launching of Facebook set on May 7

The IPO or initial public offering launch date of Facebook Inc has been set to begin next week, Monday, wherein Mark Zuckerberg, the firm’s Founder and CEO, will be participating.

GSPL, 3 other top oil firms seal JVAs to construct pipeline

Gujarat State Petronet Limited or GSPL, Indian Oil Corp Ltd or IOCL, Bharat Petroleum Corp Ltd or BPCL and Hindustan Petroleum Corp Ltd or HPCL already carried out joint venture agreements or JVA’s to develop three nationwide ventures on natural gas transmission pipeline.

Hero MotoCorp makes record high 5,51,557 units sales last April

Hero MotoCorp, the two-wheeler leading firm, has sustained its sales growth last April as it made sales of 5,51,557 units which is a record high in its monthly sales growth history.

BSE Sensex slides 0.1% as market slumps

The BSE Sensex fell 16.90 points or 0.1% to settle at 17,301.91, its lowest level since 28 April 2012. The index fell 53.33 points at the day's low of 17,265.48 in late trade. The index jumped 113.52 points at the day's high of 17,432.33 in early trade, its highest level since 23 April 2012.

The S&P; CNX Nifty fell 9 points or 0.17% to settle at 5,239.15, its lowest level since 28 April 2012. The Nifty hit a high of 5,279.60 in intraday trade, its highest level since 23 April 2012. The index hit a low of 5,226.45 in intraday trade.

Positive 1333 Negative 1465 Unchanged 135
From the 30 share Sensex pack, 18 fell and rest rose.

Dallas, San Francisco Fed Presidents eye no more moderation

According to Richard Fisher, the Dallas Fed President, and John Williams, the San Francisco Fed President, it is not needed to moderate financial policy anymore for the U.S. central bank.

India’s exports decline 5.7% last March

The exports of India declined a yearly 5.7% to USD 28.7 billion last March wherein the nation’s imports soared to USD 42.6 billion by growing 24.3%, according to the state admin statistics.

UB Holdings under negotiations for selling commercial realty

UB Holdings has been under negotiations with Blackstone and Kohlberg Kravis Roberts, the private equity financing firms, to put on sale many of its office space to the amount of Rs 650 crore.

Samvardhana accrues Rs 220 crore from IPO core stockholders

Samvardhana Motherson Finance Ltd already accrued more or less Rs 220 crore value of shares with IPO major stockholders wherein the initial share sale is around Rs 1,665 crore to be launched this May 2, 2012.

Infrastructure core sectors growth plunges to 2% last March

For the eight core infrastructure sectors, the expansion rate plummeted to 2% last March while 4.3% in the previous financial year due to both crude oil and natural gas’ below par performance.

TRAI implements tariff for cable firms for 100 channels worth Rs 100

In the near future, television households are going to have at least 100 free-to-air or FTA channels which is worth Rs 100, the utmost retail price, according to the Telecom Regulatory Authority of India’s latest tariff rules for cable television.

Government created many big policy errors says Mobius

The executive chairman of Templeton Emerging Markets Group, Mark Mobius, revealed that the Indian state admin already implemented a lot of huge policy errors as well as stock prices will drop when the country’s credit rating has been slashed.

Government eyes fees increase in Delhi airport

With the Prime Minister's Office and the Civil Aviation Ministry, Sultan Ahmed, the Minister of State for Tourism, announced that his ministry already discussed the increase in fees for both the airport and users in the New Delhi International Airport.