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Global indices do a nosedive; bank scrips fall 7.75%
Mumbai, July 15 Stocks fell sharply on Tuesday driving the Sensex down to 12,676, a low not seen since April last year. ...
Fitch downgrades local currency outlook
Mumbai, July 15 International rating agency Fitch Ratings on Tuesday, downgraded India’s local currency outlook from ‘stable’ to ‘negative’, mainly on account of the deteriorating fiscal position of the Union ...
W.L. Ross to invest Rs 345 cr in SpiceJet
Money will flow in for the day-to-day running of the airline. New Delhi, July 15 The Delhi-based low cost airline, SpiceJet announced on Tuesday that its board had accepted an offer made by US based private equity firm W.L. Ross, which will ...
Higher interest rates restore popularity of bank deposits
Mumbai, July 15 Fixed deposits are emerging as an attractive investment option with banks offering higher returns. ...
Port, dock workers withdraw strike call
As Shipping Ministry accepts 3 key demands of unions. New Delhi/Kochi, July 15 The indefinite strike of port and dock workers that would have kicked off at all major ports from Tuesday midnight has been averted with the Union Ministry for ...
‘Financial institutions must exit ITC’
New Delhi, July 15 Mr Amar Singh — whose Samajwadi Party is the key to the survival of the ruling Congress-led UPA Government — wants the Unit Trust of India (UTI) and other public financial institutions to divest their stake in ...
SP open to insurance, pension sector reforms
Windfall profit tax not a condition to extending support to Govt. New Delhi, July 15 The ruling United Progressive Alliance (UPA) Government is depending on the 39-member Samajwadi Party (SP) to survive next week’s trust vote, occasioned ...
Where’s the windfall profit for a tax?
The nuclear fission in national politics is letting loose generous doses of radiation on a daily basis. One such lethal dose came last week from the Samajwadi Party’s Mr Amar Singh who seems to be a loyal friend indeed for his most ...
Rupee to test 43.5 in near term
There was pandemonium in all the financial markets on Tuesday with the 10-year bond yield rising to 9.47 per cent, the Sensex tumbling by almost 5 per cent and the rupee depreciating sharply above the 43 level as Fitch downgraded India’s ...
Auto sector riding high on M&A, PE deals
New Delhi, July 15 Tata Motors’ acquisition of Jaguar-Land Rover inflated the mergers & acquisition basket of the domestic automobile industry during January-June 2008, with the sector witnessing fewer, but high value deals. ...
Sun Pharma extends offer for Taro till Sept 2
Tel Aviv court wants time to rule on case against Sun’s subsidiary. Mumbai, July 15 Sun Pharmaceutical Industries Ltd has extended the tender offer for purchase of all outstanding ordinary shares of Israel’s Taro Pharmaceutical ...
RCom to get links to GSM network
Service roll-out under dual licence, says TRAI. New Delhi, July 15 Paving the way for Reliance Communications to roll out its pan-India GSM cellular services, the telecom regulator has directed all existing mobile operators to provide ...
We’re committed to high quality generics: Ranbaxy
New Delhi, July 15 Ranbaxy Laboratories Ltd has told the United States Department of Justice that it was committed to developing and marketing high quality generic drug products and it will demonstrate that no data manipulation or dishonest ...
Slowdown effect: 24/7 Customer relocates 450 staff to other centres
Close to 450 employees of 24/7 Customer may feel the heat of slowdown and client churn in the BPO industry. With one of its clients announcing a phased ramp-down of offshore call centre partnerships in India, 24/7 Customer has asked the ...
Kharif crops may be hit in 6 States on deficient rains
Chennai, July 15 Deficient rainfall in 13 out of the 36 meteorological divisions of the country could affect the prospects of kharif crops in Assam, Gujarat, Maharashtra, Karnatka, Andhra Pradesh and Tamil ...
TODAY'S PICK (Latest Audio: English/Tamil)
YES Bank (Rs 107.40): Sell
We recommend a sell in YES Bank from a short-term perspective. It is clearly evident from the charts of YES Bank that it has been on an intermediate-term downtrend from its all-time high of Rs 277 recorded in January 2008, forming lower peaks and ...
Day Trading Guide
After moving around the Rs 600 level for a week, the stock formed a pennant pattern. On Tuesday, it conclusively broke out of this pattern by declining more than 8 per cent, with heavy volume. We maintain our sell recommendation. ...
Banking stocks wilt on macro economic concerns
The sector comes under selling pressure in Asia, Europe also. Mumbai, July 15 Frontline banking stocks dipped significantly on Tuesday, as investors relentlessly sold due to macro economic concerns. All the 16 stocks in the banking index ...
Buyback, open offer stocks sizzle amidst fizzle
Here’s what any investment Guru will advise a distraught investor in a bear market: “There are buys in every market.” ...
Volatility index increases to 49 – highest close since January 28 crash
Ranbaxy open interest jumps. Chennai, July 15 Turnover remained modest at Rs 44,122.92 crore against Monday’s figure of about Rs 40,096 crore. The discount of Nifty July future with respect to the spot close jumped to 32.2 points, mainly ...
Ranbaxy shares slump 23% in 2 days
Shareholders okay pref allotment to Daiichi Sankyo. Mumbai, July 15 Ranbaxy Laboratories shares slumped for the second consecutive day, down 14 per cent on Tuesday, amidst concerns of action from the United States Department of Justice (DoJ). ...
‘Downdraft’ tripped monsoon?
The long break of monsoon rains in the peninsula needs to be studied but it may also be related to the ‘downdraft’ related to a passing Madden-Julian Oscillation (MJO) wave of anomalous east-bound precipitation, according to Prof ...
Fresh rain wave on, may skip interior peninsula
Thiruvananthapuram, July15 An offshore trough has sprung up over the Karnataka - Kerala coasts on Tuesday driving the first meaningful showers of the season over south Kerala. ...
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