May 17, 2013 11:29 (IST)
The Competition Appellate Tribunal (COMPAT) has asked 11 cement companies, which were together asked to pay a penalty of Rs 6,000 crore by the Competition Commission of India in June 2012, to pay Rs 630 crore or as penalties within the next four weeks.
May 17, 2013 11:02 (IST)
Shares in cement companies such as Ambuja Cements Ltd gain on hopes a regulatory tribunal may rule in their favour as they challenge price collusions charges from the Competition Commission of India.
May 17, 2013 10:53 (IST)
The BSE Sensex and the Nifty were up 0.08 per cent. Banking shares are falling after two straight days of gains sparked by rising hopes the Reserve Bank of India will cut interest rates as early as June.
May 17, 2013 10:48 (IST)
The NSE Pharma index fell 0.93 per cent after the government formally notified a new drug pricing policy designed to increase the number of drugs deemed essential that are subject to price caps.
Mumbai | May 17, 2013 10:18 (IST)
Dealers attributed the rupee's fall to dollar gains against the euro and yen overseas but a higher opening in the domestic stock market capped the fall.
May 17, 2013 09:34 (IST)
Shares in JM Financial jumped nearly 14 per cent on Friday after the company said on Thursday that former Citigroup Chief Executive Vikram Pandit is buying a stake in the Indian financial services company.
New York | May 16, 2013 23:51 (IST)
Cisco Systems led the Dow Jones industrial average slightly higher Thursday after the technology company reported higher sales. Mixed corporate earnings and economic reports kept the major stock indexes flipping between slight gains and losses.
May 16, 2013 20:46 (IST)
The Reserve Bank, which had bought $840 million of forex in March in an effort to shore up the reserves after a two-year hiatus, has leg room to snap up $9 billion more from the market, brokerage Bank of America Merrill Lynch (BofA-ML) said in a report today.
May 16, 2013 19:35 (IST)
U.S. stocks were little changed at the open as a rally in Cisco Systems was offset by weak data on the labor and housing markets. Cisco soared 11.6 per cent to $23.64 a day after reporting quarterly results.
Mumbai | May 16, 2013 18:09 (IST)
"D&B expects the rupee to average at around 54.00-54.20 per dollar during May 2013," the note added.
May 16, 2013 17:06 (IST)
State-owned energy major ONGC today reclaimed the spot as the country's most-valued company, pushing IT giant TCS to the second slot.
May 16, 2013 16:47 (IST)
Foreign institutional investors (FIIs) were net buyers of Rs 1,647 crore of stocks on Wednesday, marking their biggest single day of buying since February 7, and regulatory and provisional exchange data showed.
May 16, 2013 15:59 (IST)
The Nifty rose to its highest level in 2-1/2 years on Thursday, as lenders continued to rally on bets the RBI would cut interest rates, while four additions to the MSCI India index, including Wockhardt, also rallied.
Singapore | May 16, 2013 14:22 (IST)
If gold ends lower on the day, it would be its longest losing streak since March 2009.
May 16, 2013 14:18 (IST)
The Sensex gained 0.17 per cent, while the broader Nifty rose 0.4 per cent, after earlier touching its highest intraday level since November 2010 of 6187.30 earlier in the session.
May 16, 2013 12:27 (IST)
IT stocks were among the top losers on Thursday even as the broader markets rallied to a 30-month high. Infosys, India's second biggest outsourcer, and TCS, India's biggest IT services exporter, led the losses.
New Delhi | May 16, 2013 11:56 (IST)
In terms of value, WGC said in its latest report that gold demand in India during the January-March period of this year increased by 32 per cent to Rs 72,899.4 crore as against Rs 55,148.7 crore in the year-ago period.
May 16, 2013 11:15 (IST)
Besides, strengthening of yen and other Asian currencies against the dollar in overseas market also supported the rupee, forex dealers said.
May 16, 2013 10:01 (IST)
The BSE Sensex opened lower on Thursday, but quickly rebounded, rising over 100 points to take out the 20,300 levels. The 50-share Nifty gained another 40 points and neared the key 6,200 mark.
May 16, 2013 09:26 (IST)
Apollo Hospitals Enterprise Ltd, Oil India Ltd, Wockhardt Ltd, and GlaxoSmithKline Consumer Healthcare Ltd have been added in the MSCI India index, the index provider said in a statement on Wednesday after completing its May review.