The Hindu Business Line : Tuesday, October 07, 2008

Sensex sinks below 12,000
Global stocks pummelled. Mumbai, Oct. 6 The benchmark Sensex fell by a massive 724 points to close below the 12000-level for the first time in more than two years, as the panic in the international markets gripped domestic ...

Curbs on P-notes lifted
Mumbai, Oct.6 The SEBI board on Monday lifted the October 2007 restrictions on issue of participatory notes by foreign institutional investors with immediate effect, a move widely perceived to bring in more funds to lift the sagging ...

Mr C.B. Bhave (right), Ch... TODAY'S PICK (Latest Audio: English/Tamil)
BEML (Rs 583.30): Sell
We recommend a sell in BEML from a short-term trading perspective. It is clearly visible from the charts of BEML that it has been on a downtrend from its December 2007 high of Rs 1,849. Since then the stock has been forming lower bottoms ...

Day Trading Guide

RBI cuts cash reserve ratio
Mumbai, Oct. 6 In a bid to ease the current cash crunch in the financial system, the Reserve Bank of India on Monday announced a half percentage point reduction in the cash reserve ratio (CRR) to 8.5 per cent from 9 per ...

Crude drops below $90 as commodities fall across the board
Gold provides the silver lining, rising over 4% as investors look for safe haven. Chennai, Oct. 6 “Sky is falling – sell sky!” On Monday, Reuters Metals Insider columnist Andy Home was thanking a London local for digging out ...

Rupee falls by 73 paise to touch 47.81
Stock market crash, demand for dollars pull the rupee down. Mumbai, Oct. 6 The Indian rupee continued its free fall against the dollar, depreciating by around 73 paise ...

Net direct tax collections up 25.5% in Sept
New Delhi, Oct. 6 The Centre’s net direct tax collections in September 2008 stood at Rs 62,788 crore, showing a growth of 25.51 per cent over Rs 50,025 crore collected in the same month last year. The collections in September are ...

IT cos may report sequential topline growth in Q2
Falling rupee seen boosting revenue growth. New Delhi, Oct. 6 The Street expects the frontline Indian IT companies to post a sequential topline growth ranging between 5.5-9.5 per cent in the second quarter ended September 2008, aided by a sharp ...

HCL Tech seeks shareholder nod to borrow up to Rs 4,000 crore
New Delhi, Oct. 6 HCL Technologies, which is in the race to acquire UK-based Axon Group, would soon seek shareholders’ approval to authorise the Board of Directors to borrow up to Rs 4,000 crore outstanding at any time, over and above ...

Mills can have custom grown wheat from Down Under
Can enter into contract farming, long-term agreements. Chennai, Oct. 7 With Australia ending the monopoly of AWB Ltd from July 1 this year, Indian roller flour mills can now custom grow wheat ...

‘Freight market may remain subdued’
Ship owners witness squeeze on earnings. Mumbai Oct 6 The global freight market may continue to remain choppy in the coming weeks, although the slide may not be as sharp as it was in the last few weeks. This was the dominant view amongst the ...

12000 round trip: Winners and losers
Infra, power, financial stocks gain. The Sensex may be back where it was two years ago — struggling to hold on to 12,000 levels, but whether your portfolio value is back to where it was depends completely on the stocks you hold. If you ...

225 stocks hit all-time lows
Most realty counters find place on the list. Chennai, Oct. 6 The Monday bear haemorrhage pushed as many as 225 stocks to hit their new lows on the ...

Durable majors push premium products this festive season
Aim to boost revenues with new strategies & products. New Delhi, Oct. 6 Hit by high inflation and rising input costs, consumer durables majors are looking to boost sagging revenues by unleashing a slew of products in the premium-end category ...

Building strong ties, the Essar Steel way
Company integrates Canadian acquisition by winning over local community. Recently in Sault Ste. Marie, Ontario, Canada Till recently, not many Indians would have been able to locate Sault Ste. Marie (pronounced Soo St. Marie) on a map. But, ...

Baldota group co setting up Rs 4,700-cr steel plant
Supply line for automobile sector, auto parts makers. Bangalore, Oct. 6 The Baldota Group is setting up a new Rs 4,700-crore steel plant, which will mostly manufacture products for passenger cars as well as auto parts producers based out of ...

Westerly system to bring down mercury
Thiruvananthapuram, Oct 6 The rain activity over east and northeast India is forecast to continue for three more days even an incoming western disturbance dropped anchor over Jammu and Kashmir on ...