Mumbai:
1) Sensex flat for 3rd day, Nifty ends above 5300
Indian stocks ended on a flat note for the third straight day. The 30-share BSE Sensex gained 37 points or 0.21% to 17,463, while the broader Nifty index advanced 14.60 points to 5,302.55. The Nifty has ended above the key 5,300 mark for the first time since April 19, 2012. Markets were choppy and the benchmark indices traded in a narrow range in the absence of domestic or global cues. (Read More)
Also Read: Why CLSA prefers Lupin over Tata Motors
2) Rupee snaps four-day gains; falls to 54.48 per dollar
The Indian Rupee quickly retracted its initial gains after opening higher on Wednesday against the dollar tracking a weak euro as investors positioned for a European Central Bank policy meeting on Thursday. It ended at 54.48 to the dollar, 0.22 per cent or 12 paise below Tuesday’s close of 54.36. The currency rose consecutively for four days to hit a six-week high against the dollar on Tuesday. (Read More)
Also Read: Reserve Bank says bond buying unrelated to rupee fluctuation
3) Govt extends 1% housing loan interest scheme by one year
The government today extended by one year the one per cent interest subsidy scheme on housing loans of up to Rs 15 lakh, where the cost of the house does not exceed Rs 25 lakh. "When interest rates have risen, even one per cent relief is a relief for the middle class and lower middle class," Home Minister P Chidambaram told reporters while briefing about last evening's Cabinet meeting. (Read More)
4) Indian IT cos face annual H1-B visa audits, tighter rules
Indian IT companies might soon be forced to allow annual audits by the US Department of Labour on the usage of H1-B work visas. A new draft proposal to push for tougher enforcement will be reintroduced by US Senator Charles Grassley before the senate, sources told NDTV Profit. (Read More)
5) Deepak Fertilisers halts $350 million Australia project
Deepak Fertilisers and Petrochemicals Corp has put on hold a planned $350 million ammonium nitrate manufacturing project in Australia, a company executive said, citing environmental, technical and economic factors. The project, announced last year, had faced local opposition on concerns over possible harm to nearby cuttlefish populations and did not get past the planning stage. (Read More)
6) Q1 earnings to be lacklustre, profits might decline: Vibhav Kapoor
Vibhav Kapoor, group CIO at IL&FS told NDTV Profit today that the momentum in markets may carry the Nifty to 5,350-5,400 levels. Kapoor says the direction of markets would depend on the monsoons and the corporate earnings. (Read More)
7) Top global banks have 'living wills' if they fail: Ten facts
Nine of the largest global banks on Tuesday expressed confidence they can be salvaged or dismantled without taxpayer bailouts if they became insolvent, as U.S. regulators released public portions of these banks' "living wills". The documents, required by the 2010 Dodd-Frank financial reform law, aim to end too-big-to-fail bailouts by mapping out ways that, in theory, mortally-wounded banks could go out of business without wrecking the financial system. (Read More)
Meanwhile, in India, worrying data showed that loans worth Rs 19,000 crore were referred for corporate debt restructuring in the first quarter of 2012-13, 30 per cent higher than the previous quarter. In a report, research firm Macquarie says stressed assets are likely to touch a decade-high level in fiscal 2012-13. (Read More)
8) Why India's leading real estate firm DLF is returning to its roots
India's biggest property developer DLF, burdened by debt and sluggish demand, is reining in its once-aggressive pan-India plans to focus on the familiar territory of its home market in northern India. DLF, founded in 1946—a year before India's independence—as Delhi Land and Finance, will concentrate on building high-margin luxury homes in north India while new projects in other parts of the country take a back seat. (Read More)
9) Renault Duster launched in India at Rs 7.2 lakh
French automaker Renault on Wednesday launched the mid-sized sports utility vehicle (SUV) Duster at an introductory price, ranging between Rs 7.19 lakh and Rs 11.29 lakh (ex-showroom Delhi), as it looks to increase volume in the Indian market. The vehicle will be available in both petrol and diesel options. The petrol version will be powered by a 1.6-litre engine and is priced between Rs 7.19 lakh and Rs 8.19 lakh. (Read More)
10) Manchester United picks New York Stock Exchange for IPO
Manchester United has picked the New York Stock Exchange to make its stock market debut, ending months of speculation over where the world's best-supported soccer club would list. After first eyeing a Hong Kong IPO, the former English Premier League champions had planned a $1 billion listing in Singapore in the second half of last year before putting plans on hold because of market turmoil. (Read More)
- Sensex flat for 3rd day, Nifty ends above 5300
- Rupee snaps four-day gains; falls to 54.48 per dollar
- Govt extends 1% housing loan interest scheme by one year
- Indian IT cos face annual H1-B visa audits, tighter rules
- Deepak Fertilisers halts $350 million Australia project
- Q1 earnings to be lacklustre, profits might decline: Vibhav Kapoor
- Top global banks have 'living wills' if they fail: Ten facts
- Why India's leading real estate firm DLF is returning to its roots
- Renault Duster launched in India at Rs 7.2 lakh
1) Sensex flat for 3rd day, Nifty ends above 5300
Indian stocks ended on a flat note for the third straight day. The 30-share BSE Sensex gained 37 points or 0.21% to 17,463, while the broader Nifty index advanced 14.60 points to 5,302.55. The Nifty has ended above the key 5,300 mark for the first time since April 19, 2012. Markets were choppy and the benchmark indices traded in a narrow range in the absence of domestic or global cues. (Read More)
Also Read: Why CLSA prefers Lupin over Tata Motors
2) Rupee snaps four-day gains; falls to 54.48 per dollar
The Indian Rupee quickly retracted its initial gains after opening higher on Wednesday against the dollar tracking a weak euro as investors positioned for a European Central Bank policy meeting on Thursday. It ended at 54.48 to the dollar, 0.22 per cent or 12 paise below Tuesday’s close of 54.36. The currency rose consecutively for four days to hit a six-week high against the dollar on Tuesday. (Read More)
Also Read: Reserve Bank says bond buying unrelated to rupee fluctuation
3) Govt extends 1% housing loan interest scheme by one year
The government today extended by one year the one per cent interest subsidy scheme on housing loans of up to Rs 15 lakh, where the cost of the house does not exceed Rs 25 lakh. "When interest rates have risen, even one per cent relief is a relief for the middle class and lower middle class," Home Minister P Chidambaram told reporters while briefing about last evening's Cabinet meeting. (Read More)
4) Indian IT cos face annual H1-B visa audits, tighter rules
Indian IT companies might soon be forced to allow annual audits by the US Department of Labour on the usage of H1-B work visas. A new draft proposal to push for tougher enforcement will be reintroduced by US Senator Charles Grassley before the senate, sources told NDTV Profit. (Read More)
5) Deepak Fertilisers halts $350 million Australia project
Deepak Fertilisers and Petrochemicals Corp has put on hold a planned $350 million ammonium nitrate manufacturing project in Australia, a company executive said, citing environmental, technical and economic factors. The project, announced last year, had faced local opposition on concerns over possible harm to nearby cuttlefish populations and did not get past the planning stage. (Read More)
6) Q1 earnings to be lacklustre, profits might decline: Vibhav Kapoor
Vibhav Kapoor, group CIO at IL&FS told NDTV Profit today that the momentum in markets may carry the Nifty to 5,350-5,400 levels. Kapoor says the direction of markets would depend on the monsoons and the corporate earnings. (Read More)
7) Top global banks have 'living wills' if they fail: Ten facts
Nine of the largest global banks on Tuesday expressed confidence they can be salvaged or dismantled without taxpayer bailouts if they became insolvent, as U.S. regulators released public portions of these banks' "living wills". The documents, required by the 2010 Dodd-Frank financial reform law, aim to end too-big-to-fail bailouts by mapping out ways that, in theory, mortally-wounded banks could go out of business without wrecking the financial system. (Read More)
Meanwhile, in India, worrying data showed that loans worth Rs 19,000 crore were referred for corporate debt restructuring in the first quarter of 2012-13, 30 per cent higher than the previous quarter. In a report, research firm Macquarie says stressed assets are likely to touch a decade-high level in fiscal 2012-13. (Read More)
8) Why India's leading real estate firm DLF is returning to its roots
India's biggest property developer DLF, burdened by debt and sluggish demand, is reining in its once-aggressive pan-India plans to focus on the familiar territory of its home market in northern India. DLF, founded in 1946—a year before India's independence—as Delhi Land and Finance, will concentrate on building high-margin luxury homes in north India while new projects in other parts of the country take a back seat. (Read More)
9) Renault Duster launched in India at Rs 7.2 lakh
French automaker Renault on Wednesday launched the mid-sized sports utility vehicle (SUV) Duster at an introductory price, ranging between Rs 7.19 lakh and Rs 11.29 lakh (ex-showroom Delhi), as it looks to increase volume in the Indian market. The vehicle will be available in both petrol and diesel options. The petrol version will be powered by a 1.6-litre engine and is priced between Rs 7.19 lakh and Rs 8.19 lakh. (Read More)
10) Manchester United picks New York Stock Exchange for IPO
Manchester United has picked the New York Stock Exchange to make its stock market debut, ending months of speculation over where the world's best-supported soccer club would list. After first eyeing a Hong Kong IPO, the former English Premier League champions had planned a $1 billion listing in Singapore in the second half of last year before putting plans on hold because of market turmoil. (Read More)
