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Banks continue to park surplus funds with RBI despite rate cut
Borrowing at a lower rate under CBLO mechanism, making a tidy spread. Mumbai, April 27 Parking surplus funds with the Reserve Bank of India continues to be an attractive option for banks despite the 25 basis points cut effected in the reverse ...
Tech Mahindra posts muted profit growth
Pricing pressures may continue. Mumbai, April 27 The volatile economic environment coupled with forex losses led to Tech Mahindra posting a muted net profit growth of 5 per cent for the fourth quarter ended March ...
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TODAY'S PICK (Latest Audio: English/Tamil)
Essar Oil (Rs 150.30): Sell
We recommend a sell in Essar Oil from a short-term trading perspective. It is apparent from the charts of Essar Oil that after taking support at Rs 60 in early March, it bounced. The stock conclusively broke through the key resistance level of Rs ...
Day Trading Guide
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Nissan Copper case: Promoters let off with Rs 22 lakh penalty
Mumbai, April 27 The Securities and Exchange Board of India has settled the share manipulation case against the promoters of Nissan Copper Ltd (NCL) on consent terms, with the promoters belonging to the Mardia family and group company ...
Bajaj on hiring mode, effects 7% pay hike
Bets on two-wheeler biz growth, ultra low-cost car project. Mumbai, April 27 At a time when salary cuts and layoffs are the order of the day, Pune-based Bajaj Auto has not only hired over 500 people but has just implemented a seven per cent ...
Higher gas revenues, spot cargo margins boost Petronet LNG
Net rises 70% in fourth quarter. New Delhi, April 27 Petronet LNG Ltd (PLL), an importer of LNG, has registered a 70.24 per cent rise in its net profit for the fourth quarter of 2008-09. Increased revenues from gas sales coupled with higher ...
Wipro to hire front-end staff for consulting unit
Intake of 300 with eye on downstream projects. Bangalore, April 27 Wipro Technologies is revamping the front-end of its consulting business to sell services more effectively and expects to add about 300 consultants by the ...
Investors chase paper gold on Akshaya Tritiya
Volumes jump manifold for Gold ETFs. Mumbai, April 27 Despite the downturn in the economy, investors seemed to have kept their date with gold on what is considered in India to be an auspicious occasion to buy the precious ...
FIIs reduce stake in 7 out of 10 companies in Jan-March
Retail investors hike holdings in the dumped stocks. BL Research Bureau Of the close to 430 companies that reported shareholding patterns for March 2009, 290 have reported fall in foreign institutional investors’ holdings between December ...
Water storage levels at 4-year low on scanty rains
Actual rainfall received up to April 22 only 35 mm. Chennai, April 27 Water storage level in the country is at a four-year low as the country received below normal rainfall from ...
Akshaya Tritiya: Moderate sales
Bangalore, April 27 It wasn’t a spectacular Akshaya Tritiya this year in Bangalore. But not as bad as feared, given that the economic slowdown has been impacting buying – especially of big ticket items such as ...
With IPL, SET Max ahead of GEC and news channels
Sets aside 15% of ad inventory for crucial matches. General entertainment channels (GECs) and news channels (in spite of election news coverage) have not managed to make a dent on the viewership of ...
Jaiprakash Q4 net up 83%; to raise Rs 4,000 cr
New Delhi, April 27 Infrastructure firm Jaiprakash Associates Ltd announced on Monday that higher revenue from its engineering operations pushed its net profit for the fourth quarter of 2008-09 by 83 per cent to Rs ...
Heat wave seen rebuilding over North and East India
Thiruvananthapuram, April 27 A helpful north-south trough along the east coast persisted on Monday even as India Meteorological Department (IMD) warned of heat wave conditions rebuilding over much of the North and ...
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