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News Headlines
India on track to grow 8.6 pct in this fiscal year (Reuters)
India's economy, Asia's third-largest and a driver of the world recovery, is expected
to grow 8.6 percent in the year ending in March, but at the risk of high commodity
prices widening the trade gap and exacerbating inflation.
India Predicts Fastest Economic Growth Since 2008 (Bloomberg Finance LP)
Gov’t predicted the econ. will expand the most in 3 years, supporting the central
bank’s case for raising interest rates further after the steepest increases in Asia.
U.S. concerned over Indian trade barriers (Reuters)
India's restrictive trade policy is impeding foreign investment and it needs to work
harder to free up its economy, U.S. Commerce Secretary Gary Locke said on
Monday, despite growing economic ties between the countries.
Trade min: sees strong yr-end manufacturing data (Reuters)
Indian Trade Minister Anand Sharma said on Monday there was no need to panic on
manufacturing data and that he expected strong year-end numbers.
April-Jan direct tax collections up 20% (BS)
Direct tax collections between April and January in the current financial year crossed
Rs 3 lakh crore, helped by Rs 18,543 crore mopped up in the month of January alone.
Government reducing cash balance with RBI (Reuters)
The government has started drawing down its huge cash balance with the Reserve
Bank of India (RBI), a move which will help ease liquidity in the banking system, a
deputy governor at the RBI said on Monday.
Bharati Shipyard's net profit down 30%, to Rs 23.16 cr (BS)
The company had reported a net profit of Rs 32.9 crore during the corresponding
quarter of 2009-10. Net sales of the co. rose 7.9% to Rs 344.9 crore for the quarter.
Genpact income up 33% (BS)
Genpact, the country’s largest business process outsourcing and technology
management company, on Monday said its fourth-quarter net income rose 33 per
cent to $46 million from $34.6 million a year earlier.
Cognizant beats St, Q4 net zooms 43% (ET)
Cognizant inched closer to becoming the country’s third-biggest software services
company by posting a better-than-expected 43% increase in December quarter net
income to $206.2 million.
IDBI raises BPLR, deposit rates (Reuters)
IDBI Bank said on Monday it has raised its benchmark prime lending rate (BPLR) as
well as its deposit rate, after India's central bank raised key rates in January for the
seventh time since last March.
Ratanchand Jewellers seeks SEBI nod for 1.5 bln rupees IPO (Reuters)
The Bangalore-based manufacturer and exporter of handmade gold jewellery intends
to use the issue proceeds to upgrade its existing manufacturing cap., to set up 12
retail stores in the state of Karnataka.
BP in talks to buy stake in RIL gas block (Reuters)
BP Plc is in talks with Indian energy major Reliance Industries to buy a 30 to 45
percent stake in the D6 hydrocarbon block in a basin off India's east coast, the Mint
newspaper reported on Monday citing a person with knowledge of the development.
ARSS Infra PAT up by 2% at Rs 26.11 cr (ET)
ARSS Infrastructure Projects on Monday reported a marginal 2 per cent rise in profit
after tax to Rs 26.11 crore for the third quarter of the current financial year.
HNG Dec qtr net down 4.8 pc at Rs 31.4 cr; to hike prices (ET)
Hindusthan National Glass & Industries posted a 4.8% decline in its net profit at
Rs 31.4 crore for the quarter ended Dec. 31, 2010 over the same period last fiscal.
Govt to open 50 mn bank accounts in villages (BS)
The United Progressive Alliance (UPA) government will unveil an ambitious financial
inclusion programme on Wednesday that aims at opening 50000,000 crore no-frill
accounts by March 2012, spanning 73,000 villages.
Indonesia Economy Expands 6.9% in Fourth Quarter, Fastest Pace Since 2004
(Bloomberg Finance LP)
Indonesia’s economy grew at the fastest annual pace in six years last quarter, adding
to the case for the central bank to raise interest rates further as inflation accelerates.
German Factory Orders Declined in Dec. After Surge (Bloomberg Finance LP)
German factory orders fell in December after jumping five times more than
economists expected in the previous month. Orders, adjusted for seasonal swings
and inflation, dropped 3.4 percent from November, when they surged 5.2 percent.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
India on track to grow 8.6 pct in this fiscal year (Reuters)
India's economy, Asia's third-largest and a driver of the world recovery, is expected
to grow 8.6 percent in the year ending in March, but at the risk of high commodity
prices widening the trade gap and exacerbating inflation.
India Predicts Fastest Economic Growth Since 2008 (Bloomberg Finance LP)
Gov’t predicted the econ. will expand the most in 3 years, supporting the central
bank’s case for raising interest rates further after the steepest increases in Asia.
U.S. concerned over Indian trade barriers (Reuters)
India's restrictive trade policy is impeding foreign investment and it needs to work
harder to free up its economy, U.S. Commerce Secretary Gary Locke said on
Monday, despite growing economic ties between the countries.
Trade min: sees strong yr-end manufacturing data (Reuters)
Indian Trade Minister Anand Sharma said on Monday there was no need to panic on
manufacturing data and that he expected strong year-end numbers.
April-Jan direct tax collections up 20% (BS)
Direct tax collections between April and January in the current financial year crossed
Rs 3 lakh crore, helped by Rs 18,543 crore mopped up in the month of January alone.
Government reducing cash balance with RBI (Reuters)
The government has started drawing down its huge cash balance with the Reserve
Bank of India (RBI), a move which will help ease liquidity in the banking system, a
deputy governor at the RBI said on Monday.
Bharati Shipyard's net profit down 30%, to Rs 23.16 cr (BS)
The company had reported a net profit of Rs 32.9 crore during the corresponding
quarter of 2009-10. Net sales of the co. rose 7.9% to Rs 344.9 crore for the quarter.
Genpact income up 33% (BS)
Genpact, the country’s largest business process outsourcing and technology
management company, on Monday said its fourth-quarter net income rose 33 per
cent to $46 million from $34.6 million a year earlier.
Cognizant beats St, Q4 net zooms 43% (ET)
Cognizant inched closer to becoming the country’s third-biggest software services
company by posting a better-than-expected 43% increase in December quarter net
income to $206.2 million.
IDBI raises BPLR, deposit rates (Reuters)
IDBI Bank said on Monday it has raised its benchmark prime lending rate (BPLR) as
well as its deposit rate, after India's central bank raised key rates in January for the
seventh time since last March.
Ratanchand Jewellers seeks SEBI nod for 1.5 bln rupees IPO (Reuters)
The Bangalore-based manufacturer and exporter of handmade gold jewellery intends
to use the issue proceeds to upgrade its existing manufacturing cap., to set up 12
retail stores in the state of Karnataka.
BP in talks to buy stake in RIL gas block (Reuters)
BP Plc is in talks with Indian energy major Reliance Industries to buy a 30 to 45
percent stake in the D6 hydrocarbon block in a basin off India's east coast, the Mint
newspaper reported on Monday citing a person with knowledge of the development.
ARSS Infra PAT up by 2% at Rs 26.11 cr (ET)
ARSS Infrastructure Projects on Monday reported a marginal 2 per cent rise in profit
after tax to Rs 26.11 crore for the third quarter of the current financial year.
HNG Dec qtr net down 4.8 pc at Rs 31.4 cr; to hike prices (ET)
Hindusthan National Glass & Industries posted a 4.8% decline in its net profit at
Rs 31.4 crore for the quarter ended Dec. 31, 2010 over the same period last fiscal.
Govt to open 50 mn bank accounts in villages (BS)
The United Progressive Alliance (UPA) government will unveil an ambitious financial
inclusion programme on Wednesday that aims at opening 50000,000 crore no-frill
accounts by March 2012, spanning 73,000 villages.
Indonesia Economy Expands 6.9% in Fourth Quarter, Fastest Pace Since 2004
(Bloomberg Finance LP)
Indonesia’s economy grew at the fastest annual pace in six years last quarter, adding
to the case for the central bank to raise interest rates further as inflation accelerates.
German Factory Orders Declined in Dec. After Surge (Bloomberg Finance LP)
German factory orders fell in December after jumping five times more than
economists expected in the previous month. Orders, adjusted for seasonal swings
and inflation, dropped 3.4 percent from November, when they surged 5.2 percent.
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