The Hindu Business Line : Thursday, October 16, 2008

RBI cuts cash reserve ratio yet again
100 basis point reduction to release Rs 40,000 cr more to banks. Mumbai, Oct. 15 The Reserve Bank of India on Wednesday announced a host of measures including a one percentage point reduction in Cash Reserve Ratio (CRR) to infuse more money into ...

Banks, Nabard to get first instalment of farm debt waiver
New Delhi, Oct. 15 The Finance Minister, Mr P. Chidambaram, on Wednesday announced that the Reserve Bank of India would provide temporary liquidity support of Rs 25,000 crore to commercial banks and Nabard against the farm debt ...

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United Spirits (Rs 767.75): Sell
We recommend a sell in United Spirits from a short-term perspective. From the charts of United Spirits, we observe that after recording a life high of Rs 2,188 in October 2007, the stock has been on a long-term downtrend. Since then, the ...

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HCL Tech first quarter net income rises 16%
New Delhi, Oct 15 HCL Technologies on Wednesday posted nearly 16 per cent year-on-year rise in its consolidated net income for the first quarter ended September 2008, as rupee’s sharp depreciation against the dollar raised the value ...

Gujarat to seek Rs 400 cr from Tatas for Sanand land
8% compound interest rate to be charged. Gandhinagar, Oct. 15 The Gujarat Government on Wednesday decided to ask Tata Motors Ltd to pay Rs 400.65 crore for the land allotted last week to the automobile major near Sanand town in Ahmedabad ...

L&T net up 32% in Q2, sales rise 40% at Rs 7,786 crore
Interest cost jumps five times in Sept quarter. Mumbai, Oct. 15 Larsen & Toubro has reported 32 per cent rise in net profit at Rs 460 crore for the quarter ended September 30, against Rs 348 crore recorded in the same period last ...

SEBI asks FIIs to share data on securities lent overseas
Information would be posted on regulator’s Web twice a week. Mumbai, Oct. 15 SEBI wants foreign institutional investors and their sub-accounts to report to it the position of Indian securities lent by them ...

Vegoils turn cheaper on global markets meltdown
Soaring imports too keep domestic market under leash. Chennai, Oct. 15 This Diwali, you may have to shell out a lower price for buying edible oil, thanks to the effect of the meltdown of global markets, ...

TRAI mulls licence fee on tower infra companies
New Delhi, Oct. 15 Mobile operators such as Bharti Airtel and Reliance Communications that have hived off their tower infrastructure into separate companies may soon have to pay additional licence fee on the revenues they earn from the ...

Bharti in tech tie-up with Infosys for DTH service
Bangalore, Oct. 15 Bharti Airtel Ltd, the country’s largest private sector telecom operator, has entered into a technology tie-up with Infosys Technologies Ltd to roll out its Direct-to-Home (DTH) television ...

Hospitality industry to go slow on hiring
Manpower employment survey presents a mixed picture. New Delhi, Oct. 15 The hospitality and tourism industry is gradually witnessing the ripple effects of economic slowdown as employers reported a dip in hiring intent even though the IT and ITeS ...

IMD declares onset of north-east monsoon
Thiruvananthapuram, Oct 15 India Meteorological Department (IMD) has announced the onset of northeast monsoon over the peninsula after predecessor southwest monsoon exited the landmass and the surrounding oceans overnight on ...