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News Headlines
Inflation to ease to 6.5 pct by March (Reuters)
Inflation is expected to ease to around 6.5 percent by end-March, Finance Secretary
Ashok Chawla said on Monday.
FIIs told to reveal details of P-Notes (BL)
The Securities and Exchange Board of India (SEBI) has strengthened the reporting
process related to offshore derivative instrument and participatory note activity.
Govt to launch new consumer price index in Feb (Reuters)
India will launch a new consumer price index in February, the country's chief
statistician, T.C.A. Anant said on Monday.
Mid-cap banks Q3 seen strong but outlook worrisome (Reuters)
Mid-cap banks are likely to report another strong quarter of healthy profits in Oct-Dec
on robust credit growth, but stressed liquidity in a rising interest rate environment
could obstruct growth going forward.
ONGC hires six banks for $3 bln issue (Reuters)
Indian state-run energy explorer Oil and Natural Gas Corp. has mandated six banks.
Indian Oil share sale to be delayed to next FY (Reuters)
State-run Indian Oil Corp's share sale will be delayed to the next financial year
beginning on April 1, Oil Secretary S. Sundareshan said on Monday.
IOC: Daily revenue loss on fuel sales at 1.59 bln rupees (Reuters)
State-run Indian Oil Corp is making a daily revenue loss of 1.59 billion rupees for
selling diesel and cooking fuels at government-fixed cheaper rates, the company said.
TCS Posts Record Profit on Software Orders (Bloomberg Finance LP)
Tata Consultancy Services Ltd. reported a record third-quarter profit after winning
orders from Deutsche Bank AG and Hilton Worldwide Inc.
Mauritius, India's MRPL discuss $2 bln oil refinery (Reuters)
Mauritius is in talks with India's Mangalore Refinery and Petrochemicals Ltd. about a
$2 billion oil refinery on the Indian Ocean island that could be operational by 2015.
Rallis profit up 40% on product mix (BL)
Rallis India has reported 40 per cent rise in net profit at Rs 34 crore in the December
quarter against Rs 24 crore recorded in the same period last year.
IndusInd Bank sees NIM widening, Q3 net up 75 pct (Reuters)
IndusInd Bank posted a 75 percent jump in net profit for the quarter to December and
said it expects net interest margins to widen further in the coming quarters.
Durables industry gung-ho on sales growth (BL)
The Index of Industrial Production (IIP) may show the consumer durables industry to
be slowing, but the industry continues to be upbeat with most players bullish about
maintaining 15-20 per cent growth.
Auto parts firms on course to robust Q3 profits (Reuters)
Top Indian auto parts makers are likely to report a healthy increase in Oct-Dec net
profits riding surging sales to the booming domestic market and cuts that offset a
rise in input costs, analysts said.
Exporters Predict `Sunny Days' for Orders Will Boost Rupee (Bloomberg
Finance LP)
Exp. in India say the surge in shipments at the end of 2010 will likely cont. in a trend
that may bolster the rupee and attract international investors to the nation’s bonds.
Britain to push India to open up retail sector (Reuters)
Britain will press India to open up its lucrative retail sector to foreign firms like Tesco,
Business Secretary Vince Cable said on Monday, a day before he was scheduled to
meet officials in New Delhi.
EU Seeks Stronger Debt Crisis Safety Net as AAA Nations Weigh Cost of Fund
(Bloomberg Finance LP)
Euro-area finance ministers pledged to strengthen the safety net for the region’s
debt-strapped countries and indicated they don’t face pressure for immediate moves
to tame the fiscal crisis.
Fed's Plosser Won't Rule Out a Rate Rise as Economic Growth Gains Traction
(Bloomberg Finance LP)
Federal Reserve Bank of Philadelphia President Charles Plosser said that while
unemployment will probably stay too high for the foreseeable future, he hasn’t ruled
out favoring a rate increase this year should economic growth warrant such a move.
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