FM may keep tax rates steady
The government can ill afford tax cuts as they could dent revenue receipts and widen an already bloated fiscal deficit
Archive for June 29th, 2009
Close: Sensex gains 0.14%; Reliance, ONGC rise
The Sensex ended up 0.14% at 14,785.74 and the Nifty closed up 0.35% at 4,390.95
Noon: Markets recover; Sensex rises over 1%
At 2.32 pm, the Sensex was up 1.1% at 14,927.07 and the Nifty was higher by 1.35% at 4,434.65
CIL disinvestment process to begin by December
10% of equity will be offloaded with preferential allocations to CIL workers. The final decision is likely to be made in the upcoming budget session
Rupee eases on weak Asian stocks
The Indian rupee eased on Monday on weaker regional stocks and a stronger dollar against major currencies.
Noon: Markets recover; Sensex rises 0.72%
By 12:22 pm, the Sensex was 0.72% up at 14,871.29 and the Nifty was 0.83% high at 4,412
Tata Motors falls 5% on FY09 results
Tata Motors reported its first net loss in eight years, mainly on the back of losses of over Rs1,700 crore incurred by Jaguar and Land Rover
Air India, unions to hold talks this afternoon
In a last-ditch effort, the management of national air-carrier Air India is holding talks with a section of its employee unions to avert a strike on the issue of deferment of June salaries.
Emaar merger to lift realty market
The Dubai developer behind the world’s tallest building plans to merge with three rivals owned by the sheikdom’s ruler, in a consolidation aimed at better coping with global meltdown.
DLF, Unitech plan to put Mumbai projects on track
Mumbai seems to be the next destination for India’s biggest realty companies, Unitech and DLF, to try and restart some of their projects which were put on the backburner.
Sensex gains 67 points in opening trade
Sensex opened higher by nearly 67 points on Monday on fresh buying by investors amid mixed Asian stock markets.
Rupee down 5 paise against dollar in early trade
The rupee fell by five paise against the US currency in early trade today after increased demand for dollar by oil importers.
Suzlon net down 77% to Rs 236 crore
Suzlon Energy, the country’s largest wind turbine-maker, on Sunday reported a 77% decline in net profit at Rs 236 crore in FY09 on the back of currency losses and replacement of defective blades.
Tata Motors rolls out JLR at Rs 65L-1 crore
The niche, but growing, club of luxury car owners on Sunday got a booster shot with Tata Motors ushering in the British auto icons Jaguar and Land Rover (JLR).
China’s iron ore discovery may hit India’s exports
More than half of India’s exports to China are iron ore.
Maruti injects competition for own JVs
After squeezing the best out of its 220-odd component suppliers through various efficiency programmes, Maruti is bringing in competition for them by buying parts from non-JV companies.
Govt for new telecom licence sans spectrum
The government is pushing for perhaps the most significant licensing reform since reduction of entry fee for STD and ILD licences in 2005 by way of a new licence category for access services.
Shares turn negative after rising 0.4%
By 11 am, the Sensex was down 0.39% at 14,706.48 points and the Nifty was down 0.26% at 4,363.95 points
Govt for new telecom licence sans spectrum
The government is pushing for perhaps the most significant licensing reform since reduction of entry fee for STD and ILD licences in 2005 by way of a new licence category for access services.
