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HindustanTimes Fri,18 Apr 2014

Business

Rajat Gupta to surrender on June 17 in insider trading case

Rajat Gupta
Gupta was convicted in June 2012 on securities fraud and conspiracy charges for having fed tips, from Goldman board meetings in the second half of 2008, to longtime friend Raj Rajaratnam, founder of the Galleon Group hedge fund firm.

Wipro Q4 net up 41%, beats expectations

Wipro

India’s third-largest software services exporter, Wipro, on Thursday beat expectations with a 41% year-on-year growth in consolidated net profit to Rs. 2,230 crore for the quarter ended March 31. 2014 aided by IT spending by customers.

'Chief Yahoo' David Filo returns to board

Yahoo

Yahoo announced the nomination Wednesday of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."

HCL Tech Q3 net profit up 59% at Rs. 1,624 crore

HCL
IT services firm HCL Technologies on Thursday posted 59% increase in net profit at Rs. 1,624 crore for the quarter ended March 31, 2014.

A star abroad, RBI boss, Raghuram Rajan, riles bond traders at home

Raghuram Rajan
Since taking the helm of the Reserve Bank of India, Raghuram Rajan's agenda to reform markets has put the noses of Mumbai bond traders firmly out of joint by upending practices that provided them with a relatively secure rate of return.

Piramal to buy 20% stake in Shriram Capital for $334 million

Piramal Healthcare
Piramal Enterprises Ltd said it agreed to buy a 20% stake in unlisted Shriram Capital Ltd for Rs. 20.14 billion ($334 million), increasing its foothold in the financial services sector.

Rupee snaps three-day fall; share gains help

rupee symbol
The rupee recovered in late trade on Thursday, boosted by gains in the domestic sharemarket while some dealers also cited dollar selling by large state-run banks which could be on behalf of the central bank.

Google takes hit on growth disappointment as quarterly results fail

Flowers put by Chinese Google users are seen on its sign outside the Google China headquarters in Beijing.
Google lost some of its luster on Wednesday as quarterly results failed to meet lofty Wall Street expectations, sending its shares down sharply.

Sun Pharma to acquire Ranbaxy in $4 billion transaction

Ranbaxy
Sun Pharmaceutical Industries and Ranbaxy Laboratories Ltd on Monday announced that they have entered into definitive agreements pursuant to which Sun Pharma will acquire 100% of Ranbaxy in an all-stock transaction.

RBI raises $3.3 billion in biggest-ever bond auction

The Reserve Bank of India on Thursday fully sold the 200 billion rupees ($3.31 billion) worth of bonds on offer at its biggest auction ever, sparking strong gains in debt markets.

CAG can audit accounts of telecom firms: SC

Telecom tower
The Supreme Court on Thursday held that the Comptroller and Auditor General of India (CAG) can audit the account books of private telecom companies which share revenue with the government for using spectrum.

'India's ratings to depend on new govt policies'

Gold Coins
Standard and Poor's may upgrade India's outlook if the government that is elected next month addresses some of the country's fiscal and economic challenges through steps such as passing a goods and services tax.

Sony sells more than seven million PlayStation 4 worldwide

PlayStation 4
Sony says it has sold seven million PlayStation 4 worldwide since its launch last year and admitted it can't make them fast enough, in a welcome change of fortune for the Japanese consumer electronics giant.

Sensex jumps 351 points, snaps 3-day losing streak

Sensex
Sensex rose more than 1.5% on Thursday to snap a three-day losing streak as lenders such as ICICI Bank surged on value buying, earnings expectations and hopes of gains in bond portfolios after the central bank's biggest debt auction.

Ranbaxy: From industry poster boy to problem child

Ranbaxy
For Ranbaxy Laboratories, which is nursing a welter of festering wounds from run-ins with regulators to employee exits and penalties for felonies, a change in ownership marks yet another milestone in its nearly five-decade old history.

Sensex ends 16 points lower; Sun Pharma gains nearly 3%

Bombay Stock Exchange
The BSE benchmark Sensex on Monday closed over 16 points lower with investors turning cautious after the first phase of voting in Lok Sabha elections got under way, amid weakness in global equities.
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