The Hindu Business Line : Saturday, October 11, 2008

Stocks plumb new depths
Industrial growth slides to 1.3%; RBI effects steeper CRR cut. New Delhi/Mumbai, Oct. 10 It never rains, it pours. For long believed to be “de-coupled” from the world economy, the Indian economy showed that it could be buffeted by ...

Infosys net rises 30% in Q2
Cuts dollar revenue guidance; pricing environment ‘stable’. Bangalore, Oct. 10 Infosys Technologies Ltd reported a 30.2 per cent rise in net profit for the September quarter, beating its own and street estimates. It, however, pared ...

‘Excellent performance’: ... How much more can FIIs sell
Largest inflow of $36 b came in 2004-05. Mumbai, Oct. 10 FII investments in Indian equities, from the time they commenced buying in India, has amounted to $56 billion as on Friday, SEBI data ...

Forex reserves fall; bank credit rises
The country’s forex kitty got lighter by nearly $8 billion in a single ...

‘Gold may touch $1,000 sooner than expected’
Chennai, Oct. 10 Gold may hit the $1,000-an-ounce-mark again sooner than expected in view of continuing financial turmoil and investors’ rush for the safety and protection traditionally offered by the ...

Gold races to a new high
Gains Rs 500 for 10 gm. Mumbai, Oct 10 Even as the stock market bled, gold showed big gains on the domestic bourses on Friday with a phenomenal spurt of over Rs 500 per 10 grams. In the afternoon session, the metal was trading at Rs 14,100 per ...

Infosys pulls out of race for Axon
HCL Tech to convert offer into ‘scheme of arrangement’. New Delhi/Bangalore, Oct. 10 With Infosys Technologies bowing out of the race to acquire UK-based SAP consulting firm Axon Group, HCL Technologies on Friday decided to implement ...

‘A timely move to ease liquidity crunch’
Bankers cheer CRR cut; no immediate decision on lending, deposit rates. Chennai, Oct. 10 The Reserve Bank’s move to cut CRR by 100 basis points, in addition to the recent 50 basis points cut, will ease liquidity concerns by brining in Rs ...

India Inc worries as bank loans turn scarce
Liquidity crunch forces companies to defer capex, acquisition plans. Mumbai, Oct 10 At the receiving end of cautious banks, corporate India does not see reprieve around the corner. Acquisition and capacity-expansion plans are on hold, with moves ...

Slowdown in loan disbursals as banks turn more cautious
Mumbai, Oct. 10 The shortage of funds in the banking system has led to a slowdown in loan disbursals by banks, both retail and corporate. Banks are being more selective in their disbursals and are holding back fund commitment to ...

Inflation rate drops on cheaper agri items
Wholesale Price Index of all commodities at 240.7. New Delhi, Oct. 10 The annual Wholesale Price Index-based inflation rose 11.80 per cent during the week ended September 27, below the previous week’s annual rise of 11.99 per cent, data ...

Infosys downward forecast could drag IT stocks down: Analysts
Firm reworked estimate due to economic conditions. A downward revision of guidance by IT bellwether Infosys Technologies could send information technology stocks on a free fall in subsequent trading ...

ICICI Bank loses 28% during intra-day
ADR plummets 24% in NYSE. Mumbai, Oct. 10 The country’s largest private sector bank, ICICI Bank, saw its share fall 28 per cent during intra-day trade on Friday to touch a new year’s low of Rs 326.7. At 9.00 IST, the ADR at the NYSE ...

FIIs’ Friday sales put at $500 m
Mumbai, Oct. 10 The FIIs’ selling continued despite the sharp fall in rupee against the US ...

Not everyone fell with the markets
If the magnitude of the recent carnage has left you wondering whether anyone at all has been spared, you may be surprised to know that a number of stocks have managed to hold ground amidst ...

Monthly oil import bill of refiners 30% lower
Kolkata, Oct. 10 Weakening of Indian rupee notwithstanding, a sharper fall in crude prices reduced the monthly oil import bill of Indian refiners by nearly 30 per cent. Under-recoveries have also come down ...

We must prepare for a tough ride: Singapore PM
‘Asia can’t avoid impact of weakening global economies’. Singapore, Oct 10 Asian countries cannot avoid the impact of weakening US, European and Japanese economies, Mr Lee Hsien Loong, Prime Minister of Singapore, said ...

Cement sector may report subdued earnings in Q2
Demand plummets in northern and central regions. Mumbai, Oct. 10 Despite a fall in coal prices, cement sector is expected to report another subdued earnings in the second quarter ended September 30, 2008 due to prolonged weakness ...

Markets This Week (Latest Audio:English/Tamil)
The continuing financial crisis plaguing the global markets not unexpectedly left its deep scars on the domestic bourses as well on Monday. The Sensex shed some 724 points to close below the psychological 12000-level at 11,801 while the Nifty ...

Rains may intensify over peninsula from Sunday
Thiruvananthapuram, Oct 10 India Meteorological Department (IMD) has forecast scattered to fairly widespread rainfall activity over the extreme south peninsula over a five-day period from ...