The Hindu Business Line : Saturday, July 11, 2009

Infosys beats street predictions, posts 17% rise in Q1 net
Volumes decline on challenging economic environment; recovery likely in 2010. Sensex bellwether Infosys Technologies beat street estimates to post a modest profit growth for the June quarter over a year ago, but a strengthening rupee prompted ...

Industrial growth hits 8-month high
New Delhi, July 10 Indian industry has registered a year-on-year growth of 2.66 per cent in May. Although modest, it is the best since the 6.03 per cent rate notched up ...

Something to smile about:... No plans to remove Securities Transaction Tax: Govt
New Delhi, July 10 The Lok Sabha was informed on Friday that the Government had no plans to do away with the Securities Transaction Tax (STT), despite demands for ...

Last-hour selling sinks Sensex
Mumbai, July 10 The Sensex, which on Friday appeared to be in positive territory after three days of consecutive losses, suddenly plunged by 470 points in the second half of the trading session, most of it in the last hour of ...

Soon farmers can control irrigation with a cell phone
TATA INDICOM’S ‘NANO GANESH’. Ahmedabad, July 10 Tata Teleservices Ltd today inaugurated a pilot project at Sojitra in Anand district of Gujarat that allows farmers to operate their irrigation pumps from remote locations ...

IRDA moots health insurance for non-hospital expenses
Insurance companies must bring out health products based on the expenditure incurred by patients apart from the hospitalisation charges, said Mr J. Hari Narayan, Chairman, Insurance Regulatory and Development ...

Centre not to reduce CST ceiling this fiscal
States express concern over revenue loss. New Delhi, July 10 The Centre has no plans to bring down the ceiling rate on the Central Sales Tax (CST) from the existing two per cent to one per cent during the current ...

Considerable challenges ahead for Infosys
Infosys Technologies has delivered on its guidance on the revenue front and has exceeded it on earnings per share for the June quarter. Be that as it may, the company has had its second successive quarter of revenue and net ...

Infosys eyeing buys for strategic reasons
‘Typical size or the cut-off limit will be 10 per cent of our revenue’. Bangalore, July 10 After the second successive sequential de-growth in revenue, a resilient Infosys Technologies says the medium-to- long-term growth prospects ...

Kharif crops coverage still down
Sowing gathers momentum on monsoon’s progress. Chennai, July 10 Coverage of almost all kharif crops, barring cotton, maize and castor, continued to lag behind, though there was improvement from the situation witnessed ...

Infosys — Revenue outlook ‘flattish’
‘We want to be cautious, not go overboard’. Bangalore, July 10 Infosys Technologies Ltd expects technology spending to recover towards the middle of next calendar year on a possible revival of the global economy, and has stuck a ...

SIDBI to raise $1 billion from global lenders
To provide refinance to banks against lending to small units. Mumbai, July 10 The Small Industries Development Bank of India (SIDBI) plans to marshal $1 billion from multilateral financial institutions such as KfW (Germany), French Agency for ...

LPG revenue loss may go up by 50%
Indian crude oil basket down this month at $64.70 a barrel. Even if crude oil prices are falling, the expected revenue loss on LPG may prove to be a dampener for the oil marketing ...

Gaps in the gift tax regime
The Finance (No. 2) Bill, 2009 does make an honest attempt at plugging the loopholes in the regime dealing with gifts. But as it happens despite the attempt at making the code comprehensive, there still remains gaping holes which need to be ...

Markets this week
The Indian stock market was ravaged by a sell-off even as the Finance Minister was reading out the Union Budget for 2009-10. The Sensex tanked 869 points on Monday, to close at 14,043, arguably the largest Budget day decline, while the ...

Spill-over rains wet parts of parched north-west
Thiruvananthapuram, July 10 Latest predictions confirming El Nino trends in the equatorial Pacific came on a day when widely separated rains, ranging from sparse to moderately heavy, wetted central India and even the parched ...