Washington:
1) Nifty ends below 5300; Rupee breaches 56-level
Indian stocks closed sharply lower after days of range bound trade. The 30-share BSE Sensex shed 129 points or 0.74 per cent to end at 17,392, while the broader Nifty index declined 42 points to 5,275. (Read More)
Meanwhile, in the currency market, the rupee fell to its lowest in more than a week on Monday after data showing a fall in inflation in China and weaker-than-expected U.S. jobs growth data sent global risk assets lower. The euro was steady after hitting a two-year low against the dollar early on Monday. (Read More)
Also Read: Rupee not to touch 50/$ in the near term: Jamal Mecklai
2) 10 stocks that may outperform Sensex earnings in Q1
IT bellwether Infosys will kick start the first quarter earnings season later this week. TCS, India's biggest software services exporter, will report numbers the same day. Corporate earnings are likely to provide some trigger to the lacklustre equity markets. TCS is likely to lead the tier I pack in terms of US dollar revenue growth in the first quarter. Here are 10 stocks that might outperform the average Sensex earnings. (Read More)
However, Rakesh Arora, MD & head of research at Macquarie Capital Securities (India) told NDTV Profit's Prashant Nair IT companies are likely to cut their earnings growth forecast. Most IT firms are also likely to report forex losses. The underlying earnings would be ok, but reported earnings could be hit because of the mark-to-market provisions most companies will have to make. (Read More)
Also Read: Infosys likely to cut FY13 revenue growth forecast
3) Finance Ministry rejects Vodafone's rejoinder on retrospective tax
The Finance Ministry has rejected telecom operator Vodafone’s rejoinder, seeking an undertaking that a retrospective tax amendment would not apply to it. The Finance Ministry’s reply will now go to the Prime Minister Office for approval. (Read More)
Also Read: Why investors could pull out money from BRIC countries
4) Perceptions spreading negative sentiment; fundamentals still strong: UK Sinha
Perceptions are playing a major role in spreading negativity in the Indian equity markets, equity markets regulator UK Sinha told NDTV in an interview over the weekend. “There is not only gloom but also a lot of hope in the markets, we have to try and get the 'good moves' into the limelight,” Sinha said in the Walk The Talk show hosted by Indian Express Editor-in-Chief Shekhar Gupta. (Read | Video)
Also Read: Govt working on ‘permissible arrangements’ in GAAR
5) India Inc doesn't see economic recovery till 2016: StanChart survey
India's economic growth will likely be less than 6 per cent for the fiscal year ending March 2013, according to 72 per cent of respondents in a client survey by Standard Chartered Bank. A majority of the respondents also added that the country was likely to return to the 9 per cent level before 2016.
As many as 85 per cent of the respondents said India can return to its pre-crisis growth levels of about 9 per cent before 2016. The view is likely driven by the fact that the 2014 general elections will effect a change in the political scenario which will be more conducive to economic growth, the bank said in a note. (Read More)
Also Read: Slowdown deepening in India, China, says OECD
6) Court orders daily talks between Air India pilots, management: top 10 developments
The Delhi High Court on Monday ordered day-to-day conciliation talks between the striking Air India pilots and the management. The talks will begin from tomorrow and will continue till both parties arrive at a solution. The next hearing will now be held on July 13. Here are the developments so far.
7) Peak power shortage crosses 11,000 MW in April-June
Scarce fuel supply led to peak power shortage of over 11,000 MW from April to June, according to the Central Electricity Authority (CEA). The CEA data showed that the total power generation during the period was at 1,21,220 MW, whereas the demand was pegged at 1,32,591 MW. This substantial deficit implies less supply of electricity in accordance with the demand. (Read More)
However, Long power cuts in Delhi may be on their way out. Minister for Power Civil Supply Department & Rural Development, Haroon Yusuf said in an interview to NDTV Profit that the administration was now adequately prepared to meet the city’s soaring power demand. (Read More)
8) Airbus Vs Boeing: Global slowdown triggers new price war
Airbus and Boeing head into this week's Farnborough Airshow locked in their fiercest market share battle for up to a decade, slashing prices to win key orders for their latest narrowbody jets and storing up potential trouble for future profit margins. (Read More)
Meanwhile, U.S. planemaker Boeing landed the first blow at this week's Farnborough Airshow, winning an order worth up to $7.2 billion from U.S. lessor Air Lease. Boeing said on Monday under the grey skies of a typically unsettled British summer that the order was for 75 of its fuel-efficient 737 Max jets - a model that is key to its attempted fightback against Airbus's rival A320neo short-haul aircraft. (Read More)
Also Read: Richard Branson on the link between Heathrow and the British economy
9) Couldn't create an open, flat, transparent group: Ratan Tata
Tata group chairman Ratan Tata says he has not been able to make the conglomerate a "truly open, flat, transparent organization". "Perhaps internally, I have not been able to create the truly open, flat, transparent organization that I had hoped we could do," Tata said when asked what he could not do that he wanted to during his tenure as the head of the Tata group. (Read More)
Also Read: Euro zone fragmenting faster than EU can act
10) Salary hikes: Bajajs get 40% jump in pay; Sajjan Jindal’s salary to be up 55%
JSW Steel has proposed to increase salary and perks of its Chairman and Managing Director Sajjan Jindal by over 55 per cent to Rs 12 crore for next five years. This excludes profit-linked commission paid to Jindal, which has been proposed at 0.5 per cent of the net profit in a given year, the company said in a notice to shareholders for the annual general meeting to be held on July 25. (Read More)
On the other hand, Bajaj Auto, one of the biggest two wheeler and three-wheeler companies in the world, has rewarded the top brass with a 40 per cent pay hike. Rahul Bajaj, the company’s chairman, got remuneration of Rs 11 crore during the financial year 2011-12 against Rs 7.8 crore during 2010-11. (Read More)
Also Read: 5 steps Bajaj Auto is taking to boost three-wheeler sales
- Nifty ends below 5300; Rupee breaches 56-level
- 10 stocks that may outperform Sensex earnings in Q1
- Finance Ministry rejects Vodafone's rejoinder on retrospective tax
- Perceptions spreading negative sentiment; fundamentals still strong: UK Sinha
- India Inc doesn't see economic recovery till 2016: StanChart survey
- Court orders daily talks between Air India pilots, management: top 10 developments
- Peak power shortage crosses 11,000 MW in April-June
- Airbus Vs Boeing: Global slowdown triggers new price war
- Couldn't create an open, flat, transparent group: Ratan Tata
- Salary hikes: Bajajs get 40% jump in pay; Sajjan Jindal’s salary to be up 55%
1) Nifty ends below 5300; Rupee breaches 56-level
Indian stocks closed sharply lower after days of range bound trade. The 30-share BSE Sensex shed 129 points or 0.74 per cent to end at 17,392, while the broader Nifty index declined 42 points to 5,275. (Read More)
Meanwhile, in the currency market, the rupee fell to its lowest in more than a week on Monday after data showing a fall in inflation in China and weaker-than-expected U.S. jobs growth data sent global risk assets lower. The euro was steady after hitting a two-year low against the dollar early on Monday. (Read More)
Also Read: Rupee not to touch 50/$ in the near term: Jamal Mecklai
2) 10 stocks that may outperform Sensex earnings in Q1
IT bellwether Infosys will kick start the first quarter earnings season later this week. TCS, India's biggest software services exporter, will report numbers the same day. Corporate earnings are likely to provide some trigger to the lacklustre equity markets. TCS is likely to lead the tier I pack in terms of US dollar revenue growth in the first quarter. Here are 10 stocks that might outperform the average Sensex earnings. (Read More)
However, Rakesh Arora, MD & head of research at Macquarie Capital Securities (India) told NDTV Profit's Prashant Nair IT companies are likely to cut their earnings growth forecast. Most IT firms are also likely to report forex losses. The underlying earnings would be ok, but reported earnings could be hit because of the mark-to-market provisions most companies will have to make. (Read More)
Also Read: Infosys likely to cut FY13 revenue growth forecast
3) Finance Ministry rejects Vodafone's rejoinder on retrospective tax
The Finance Ministry has rejected telecom operator Vodafone’s rejoinder, seeking an undertaking that a retrospective tax amendment would not apply to it. The Finance Ministry’s reply will now go to the Prime Minister Office for approval. (Read More)
Also Read: Why investors could pull out money from BRIC countries
4) Perceptions spreading negative sentiment; fundamentals still strong: UK Sinha
Perceptions are playing a major role in spreading negativity in the Indian equity markets, equity markets regulator UK Sinha told NDTV in an interview over the weekend. “There is not only gloom but also a lot of hope in the markets, we have to try and get the 'good moves' into the limelight,” Sinha said in the Walk The Talk show hosted by Indian Express Editor-in-Chief Shekhar Gupta. (Read | Video)
Also Read: Govt working on ‘permissible arrangements’ in GAAR
5) India Inc doesn't see economic recovery till 2016: StanChart survey
India's economic growth will likely be less than 6 per cent for the fiscal year ending March 2013, according to 72 per cent of respondents in a client survey by Standard Chartered Bank. A majority of the respondents also added that the country was likely to return to the 9 per cent level before 2016.
As many as 85 per cent of the respondents said India can return to its pre-crisis growth levels of about 9 per cent before 2016. The view is likely driven by the fact that the 2014 general elections will effect a change in the political scenario which will be more conducive to economic growth, the bank said in a note. (Read More)
Also Read: Slowdown deepening in India, China, says OECD
6) Court orders daily talks between Air India pilots, management: top 10 developments
The Delhi High Court on Monday ordered day-to-day conciliation talks between the striking Air India pilots and the management. The talks will begin from tomorrow and will continue till both parties arrive at a solution. The next hearing will now be held on July 13. Here are the developments so far.
7) Peak power shortage crosses 11,000 MW in April-June
Scarce fuel supply led to peak power shortage of over 11,000 MW from April to June, according to the Central Electricity Authority (CEA). The CEA data showed that the total power generation during the period was at 1,21,220 MW, whereas the demand was pegged at 1,32,591 MW. This substantial deficit implies less supply of electricity in accordance with the demand. (Read More)
However, Long power cuts in Delhi may be on their way out. Minister for Power Civil Supply Department & Rural Development, Haroon Yusuf said in an interview to NDTV Profit that the administration was now adequately prepared to meet the city’s soaring power demand. (Read More)
8) Airbus Vs Boeing: Global slowdown triggers new price war
Airbus and Boeing head into this week's Farnborough Airshow locked in their fiercest market share battle for up to a decade, slashing prices to win key orders for their latest narrowbody jets and storing up potential trouble for future profit margins. (Read More)
Meanwhile, U.S. planemaker Boeing landed the first blow at this week's Farnborough Airshow, winning an order worth up to $7.2 billion from U.S. lessor Air Lease. Boeing said on Monday under the grey skies of a typically unsettled British summer that the order was for 75 of its fuel-efficient 737 Max jets - a model that is key to its attempted fightback against Airbus's rival A320neo short-haul aircraft. (Read More)
Also Read: Richard Branson on the link between Heathrow and the British economy
9) Couldn't create an open, flat, transparent group: Ratan Tata
Tata group chairman Ratan Tata says he has not been able to make the conglomerate a "truly open, flat, transparent organization". "Perhaps internally, I have not been able to create the truly open, flat, transparent organization that I had hoped we could do," Tata said when asked what he could not do that he wanted to during his tenure as the head of the Tata group. (Read More)
Also Read: Euro zone fragmenting faster than EU can act
10) Salary hikes: Bajajs get 40% jump in pay; Sajjan Jindal’s salary to be up 55%
JSW Steel has proposed to increase salary and perks of its Chairman and Managing Director Sajjan Jindal by over 55 per cent to Rs 12 crore for next five years. This excludes profit-linked commission paid to Jindal, which has been proposed at 0.5 per cent of the net profit in a given year, the company said in a notice to shareholders for the annual general meeting to be held on July 25. (Read More)
On the other hand, Bajaj Auto, one of the biggest two wheeler and three-wheeler companies in the world, has rewarded the top brass with a 40 per cent pay hike. Rahul Bajaj, the company’s chairman, got remuneration of Rs 11 crore during the financial year 2011-12 against Rs 7.8 crore during 2010-11. (Read More)
Also Read: 5 steps Bajaj Auto is taking to boost three-wheeler sales
