The Hindu Business Line : Saturday, November 01, 2008

FII buying lifts markets
Sensex up 744 points; overseas rate cuts lead to rally. Mumbai, Oct. 31 Stocks rose on Friday as foreign institutional investors turned net buyers after a straight fortnight of fierce ...

IOC posts Rs 7,047-cr quarterly loss on under-realisations, weak rupee
Indian Oil Corporation Ltd (IOC) has registered a net loss of Rs 7,047.13 crore for the second quarter of the current fiscal against a net profit of Rs 3,817.75 crore in corresponding quarter of pervious ...

Deep into red: Mr ... Emerging markets most hurt in bear run
FIIs offload equities worth $13 b in India so far. Mumbai, Oct. 31 Investors across the globe are now sobbing at the sink, from singing in the shower just at the beginning of the ...

Stocks lent by FIIs among the worst affected in slide
But analysts say data cannot confirm short-selling. Mumbai, Oct. 31 The stocks in which foreign institutional investors have lent the most quantity of shares overseas are also among the worst affected in the recent stock ...

Basic customs duty on jet fuel goes; IOC cuts price
But airlines hold out no promises on fare cuts. New Delhi, Oct. 31 The basic customs duty of five per cent on aviation turbine fuel (ATF) has been completely removed. The sale price of ATF has also been reduced by 15-17 per cent across the four ...

Banking on consumers in distress
THE AEGIS MODEL. Mumbai, Oct. 31 What do you do when the neighbourhood bank in which your hard-earned savings are parked seems to be in distress? Or when are you are unsure about the health of the financial institution whose bonds you have ...

Ranbaxy reports Rs 352-cr loss in Q3 on US ban, weak rupee
New Delhi, Oct. 31 Hit by the ban imposed by US authorities and a weakening rupee, Ranbaxy Laboratories has reported a Rs 352-crore loss, on a standalone basis, during the third quarter ended September ...

RCom net rises 17%
Co pursuing aggressive capex plans. Mumbai, Oct. 31 Reliance Communications has reported a 17.3 per cent rise in net profit for the second quarter ended September 2008, as revenues rose across business segments. However this is the lowest profit ...

S&P outlook on India’s long-term rating remains stable
Affirms ‘BBB-’ long-term and ‘A-3’ short-term ratings. Mumbai, Oct. 31 International ratings agency Standard and Poor’s affirmed its ‘BBB-’ long-term and ‘A-3’ short-term sovereign credit ...

PNB cuts prime lending, deposit rates by 50 bps
Posts 31% rise in Q2 net, steps up NPA recovery efforts. New Delhi, Oct. 31 Punjab National Bank (PNB) on Friday announced a cut in its benchmark prime lending rate (PLR) by 50 basis points to 13.5 per ...

Cabinet okays hike in FDI in insurance to 49 pc
LIC amendment Bill also to be introduced. Our Bureau New Delhi/Hyderabad, Oct. 31 The Union Cabinet has given its approval for the introduction of the Insurance (Amendment) Bill, 2008 to increase the upper cap of foreign direct investment from ...

Forex reserves fall $15.5 b
Mumbai, Oct. 31 The foreign exchange reserves shrunk by $15.47 billion - the largest fall in a week - to $258.415 billion for the week ended October 24, according to the latest figures released by the Reserve Bank of India. The reserves ...

Promoters’ stake in Tata Motors rises to 42%
Mumbai, Oct. 31 Post the rights issue the promoters’ stake in Tata Motors rose to 42 per cent from 33 per cent. The promoters — Tata Sons and group companies — invested more than Rs 3,000 crore to pick up the ...

Forex loss hits Tata Motors net
Mumbai, Oct. 31 A foreign exchange loss of Rs 285 crore dented auto-major Tata Motors’s profits, down 34 per cent at Rs 347 crore for the June-September ...

Bharti’s Q2 profit up 27%
Average revenue per user, minutes of usage down Q-on-Q. New Delhi, Oct. 31 A record growth in the subscriber base has boosted Bharti Airtel’s second quarter profits by 27 per cent as against last year’s, but key operational ...

India tops in world organic cotton output
Chennai, Oct. 31 Call it compulsion or accident, the fact is India is now the world leader in production of organic cotton. The country’s organic cotton output increased 292 per cent during 2007-08 to 73,702 tonnes compared with ...

Markets this week
On Monday the bourses opened on a weak global sentiments and heavy selling resorted by FIIs and ...