The Hindu Business Line : Wednesday, October 28, 2009

End of easy money, says RBI
Hikes SLR by 100 bps to 25%, but does little else. Mumbai, Oct. 27 The Reserve Bank of India on Tuesday signalled reversal of the easy money policy, even as it left its key ...

Sensex tanks 387 points
Mumbai, Oct. 27 The Monetary Policy seems to have disappointed the stock market. The bellwether Sensex shed 387 points on Tuesday to close at 16,353.4 points and the broader Nifty ended the day lower by 2.5 per cent at ...

The RBI Governor, Dr D. S... TODAY'S PICK (Latest Audio: English/Tamil)
Canara Bank (Rs 339.5): Sell
We recommend a sell in the stock of Canara Bank from a short-term perspective. It is evident from the charts the stock has been on an intermediate-term uptrend from its March low of Rs 144. However, the stock’s medium-term uptrend ...

Day Trading Guide

Wipro profit rises 19%; volumes set to expand
Customers are back to decision-making: Azim Premji. Bangalore, Oct. 27 Wipro Ltd beat its own as well as street estimates to report strong second quarter, aided by increased order flows, operational efficiencies and forex ...

Apex Court says gas is national resource, hence subject to Govt policy
New Delhi, Oct. 27 The Supreme Court, hearing the gas dispute involving the Ambani brothers, observed on Tuesday that gas is a national resource owned by the Government and, therefore, subject to Government ...

We are seeing the beginning of a recovery process: Subbarao
‘We will take into consideration need to generate private sector credit demand’. Mumbai, Oct. 27 ‘Banks tell me that credit will pick up in Q4. That prospect will be a variable in our monetary policy calculations then,’ ...

Banks asked to increase NPA provisioning coverage to 70%
RBI sets September 2010 as deadline. Mumbai, Oct. 27 Banks will have to increase their provisioning coverage for net non-performing assets to 70 per cent, which will include floating ...

Power sector gets bulk of additional gas from D6
Reliance Ind to ramp up output to recover $100 m revenue. New Delhi, Oct. 27 An Empowered Group of Ministers headed by the Finance Minister, Mr Pranab Mukherjee, has allocated additional 50 mscmd gas from Reliance Industries Ltd (RIL) operated ...

Should the RBI always send consistent signals?
Signalling is an old and popular game. Cardsharps do it. Women receptive to male overtures do it. Auctioneers do it. Male peacocks do it. Others birds do it. The bees do it. Everyone does it. For several decades now, even central banks have ...

Intel partners HCL Info, BSNL for WiMax programme
Make broadband access a national imperative: Otellini. New Delhi, Oct. 27 The Intel Corp CEO, Mr Paul S. Otellini, on Tuesday asked India to make broadband wireless access a national imperative to leverage healthcare, education and ...

Rupee in short-term decline(Latest Audio:English/Tamil)
Volatility in rupee increased on Tuesday ahead of the monetary policy review in anticipation of tightening measures by the Reserve Bank of India. Despite the central bank leaving key policy rates unchanged, the currency plummeted to 47 on fears ...

Tata Steel Q2 net profit halves on fall in product prices
Company pays off high-cost debt of Rs 1,945 cr. Mumbai, Oct. 27 Tata Steel’s net profit almost halved to Rs 903 crore (Rs 1,788 crore) during the second quarter ended September 30, primarily due to a sharp fall in steel and ferro alloy ...

Realtors divided on impact of RBI move
Loans may turn costlier on higher provisioning. Mumbai, Oct. 27 There were mixed reactions to the likely fallout of the RBI’s move to tighten banks’ provisioning for real estate loans. As a result, for every Rs 100 crore advances ...

Stage set for onset of north-east monsoon
Meanwhile, the European Centre for Medium-Range Weather Forecasts (ECMWF) said that relative humidity had been pumped up to between 80 to 95 per cent over south coastal Tamil Nadu and the Kerala coast as early as from ...

RBI sets stage to reverse certain stimulus steps
Higher provisional coverage may affect banks’ profitability. BL Research Bureau The RBI’s Credit Policy has proved to be much more hawkish than what market watchers ...