Mumbai : A key index for Indian equities Thursday closed
191 points lower, tracking bourses across the world, as weak industrial
data from China sparked off concern about the global economic recovery.
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Thursday, July 1
Sensex ends 191 points lower
by
Bhavesh
on Thu 01 Jul 2010 06:57 PM IST
Hero Honda sales up over 16 pct in June
by
Bhavesh
on Thu 01 Jul 2010 06:52 PM IST
The country's largest two-wheeler maker Hero Honda reported a 16.60
percent jump in its sales in June at 4,26,454 units over 3,65,734 units
it sold in the corresponding month last year.
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New system of cheque clearing causing trouble: RTI applicant
by
Bhavesh
on Thu 01 Jul 2010 06:48 PM IST
New Delhi : A new system of cheque clearing under which
scanned copies of cheques are transmitted by collecting banks to drawee
banks instead of sending them physically is causing a lot of trouble to
the customers, alleges a Right To Information (RTI) applicant.
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Indian hotels face off with foreign majors
by
Bhavesh
on Thu 01 Jul 2010 04:55 PM IST
Business has been good and Indian hotels are eyeing conquests abroad. Indian hotel chains, all set for an expansion drive, are likely to face stiff competition from well-known global chains that are aggressively making inroads into the widening domestic market. Analysts say in a few years competition could jump to levels that could put pressure on Indian firms' room rates as they face-off with global giants, but will still manage to grow on rising demand for rooms in Asia's third-biggest economy.
ING insurance unit to invest $51 mln in India
by
Bhavesh
on Thu 01 Jul 2010 02:51 PM IST
The Indian insurance unit of Dutch financial services firm ING plans to invest 2.4 billion rupees ($51 million) in 2010/11 to fund expansion in the country, it said on Thursday. "We have a huge opportunity in this market and we are committed to see this business grow," ING Insurance management board member Tom McInerney said in a statement.
MTNL slashes ISD rates to Rs 1/min
by
Bhavesh
on Thu 01 Jul 2010 02:50 PM IST
State-run MTNL today slashed ISD calling rates to six countries, including US, Canada and China, for its GSM and 3G subscribers to Re 1 a minute. This is part of a scheme to effect reduction in call rates to 26 countries. Brought about to mark MTNL's 25 years in service, the call rates will be applicable for a period of three months.
Sensex down 172 points in opening trade
by
Bhavesh
on Thu 01 Jul 2010 01:32 PM IST
MUMBAI : The Bombay Stock Exchange benchmark Sensex fell over 172 points in opening trade today, as investors sold stocks to realise profits after yesterday's rally amid weak global cues.
The 30-share index, which had gained 166.81 points in the previous session, fell 172.02 points, or 0.97 per cent, to 17,528.88 points. Read this complete story
FDI in DTH raised to 74%, FM radio to 26%
by
Bhavesh
on Thu 01 Jul 2010 11:20 AM IST
The Telecom Regulatory Authority of India (Trai) on Wednesday
recommended changes to the foreign direct investment (FDI) limit in
broadcasting, a move which immediately drove up stocks of broadcasters
and distributors. The regulator recommended that the FDI limit in
direct-to-home (DTH), teleport and national and state-level cable
network operators be hiked to 74 per cent from the current 49 per cent.
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Private banks target PSBs with lower base rates
by
Bhavesh
on Thu 01 Jul 2010 11:16 AM IST
Private sector banks, it would appear, are looking to leverage their
efficiencies to wean away blue-chip clients from their public sector
competitors. The country's largest private sector lender ICICI Bank
chose to fix its base rate at 7.5 per cent while peer HDFC Bank pegged
its minimum lending rate at an attractive 7.25 per cent. Axis Bank has
opted for a more conservative 7.5%, in line with the rate fixed by State
Bank of India (SBI). IndusInd Bank and Dhanlaxmi Bank turned out to be
among the most aggressive, deciding on 7 per cent. At the other end of
the spectrum, Karur Vysya Bank chose to lend at a minimum 8.5 per cent.
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IGL gets Ghaziabad city-gas licence
by
Bhavesh
on Thu 01 Jul 2010 11:13 AM IST
In a major blow to oil regulator PNGRB, the government has given Indraprastha Gas Ltd (IGL) the licence to retail CNG to vehicles and piped gas to households in Ghaziabad. Petroleum and Natural Gas Regulatory Board (PNGRB), headed by L Mansingh, had previously ignored the government and the Supreme Court mandated committee's authorisation to IGL, which sells CNG and piped gas in Delhi, for city gas operations in neighbouring Ghaziabad. |
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