As Sebi celebrates its 25 years of existence, chairman UK Sinha says this has been an eventful journey for the capital markets regulator and it has created market infrastructures that are better than those in many other countries, including some most developed economies.
State Bank of India, the country's largest lender, posted its first quarterly net profit drop in two years, missing market estimates after being dragged down by lower interest income and higher provisions for loan losses.
The Indian government will be comfortable with a stable rupee exchange rate and there was no reason for the currency to be unstable, C Rangarajan, chief economic adviser to Prime Minister Manmohan Singh, said today.
Nissan Motor Co Ltd will recall about 841,000 vehicles worldwide including the Micra compact car, also known as the March, as a result of a steering wheel glitch, Japan's No 2 automaker said today.
The rupee slid to its lowest in over 8-1/2 months on Thursday, heading for a fifth consecutive session of falls, as worries about a potential pullback in the US monetary stimulus programme sparked a shift sway from riskier currencies.
The BSE Sensex today fell by over 131 points in late morning trade on continued selling pressure and heavy profit-booking in realty, capital goods, power, consumer durables and banking, amid bearish Asian cues.
European leaders were scheduled to discuss how to combat aggressive tax avoidance by major companies such as Amazon, Google and Apple at a summit on Wednesday, and cut an estimated €1 trillion a year that the EU is losing to tax evasion or avoidance.
Sony Corp cut its sales targets for digital cameras, smartphones and tablets by 13-17% for the year to end-March 2015, but said there were “encouraging” signs of a revival in its electronics business.
Former Goldman Sachs director Rajat Gupta on Tuesday asked a federal appeals court to reverse his insider-trading conviction, challenging the validity of evidence used against him.
In a big new round of reforms, the government is likely to announce a slew of measures to boost foreign fund flows into India and pep up a falling rupee.
Gaurav Choudhury reports.
Doors open wider
In a strong investor response, the initial public offer of local search engine Just Dial, the largest offer by an Indian Internet company, was subscribed 11.63 times on the last of issue today.
A consumer forum in Delhi imposed a fine of Rs. 5.5 lakh on banking major Hongkong and Shanghai Banking Corporation (HSBC) Ltd for unfair trade practice of keeping its customer's already settled loan account outstanding and charging interest from him.
Infrastructure conglomerate Larsen & Toubro today reported 6.90% decline in standalone net profit at Rs. 1,787.94 crore for the fourth quarter ended March, 2013, due to a sharp rise in interest outgo.
The initial public offer of local search engine JustDial was over-subscribed by 1.94 times on the last of issue today.
Describing Indian market as an attractive and big for solar power, equipment maker First Solar has said it is looking for partnerships to strengthen business activities in the country.