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HindustanTimes Sat,12 Jul 2014

Business

Insurance scrips trade mixed after FDI cap hike announcement

Shares of insurance companies saw mixed trends at the BSE after Finance Minister Arun Jaitley on Thursday proposed raising the Foreign Direct Investment (FDI) cap from 26 per cent to 49 per cent.

Finance minister Arun Jaitley presents Modi govt's first budget

Prime Minister Narendra Modi's government presents its first budget shortly amid apprehensions about a dose of 'bitter medicine', which could be administered to revive an ailing economy that has clocked sub-5% growth in two consecutive years. Poll: What do you want from FM Arun Jaitley's maiden budget?

Defence cos shares slide amid FDI hike

Shares of defence equipment makers fell sharply by as much as 10% on Thursday amid finance minister Arun Jaitley raising foreign direct investment in the sector to 49%.

Markets surge, but end in a low after budget fails to excite investors

The benchmark Sensex and Nifty swung wildly on Thursday, but ended lower for the third straight day. Investors took time to understand finance minister Arun Jaitley's maiden Union budget, which promised greener pastures, but held back on big-bang reforms.

Onion crisis after the best-ever harvest

India has produced a record harvest, but many farmers in the onion bowl of Maharashtra have lost a large share of their crop damaged in storage, adding to inflation woes. A doubling in retail prices across major cities is especially troubling for staples such as onions.

Rupee ends largely steady a day ahead of budget

The rupee ended largely steady on Wednesday as strong dollar sales on hopes of a fiscally prudent budget were offset as shares retreated from record highs to fall for a second consecutive session.

Sensex, Nifty close at over 1-week lows ahead of general budget

A day ahead of general budget, the BSE Sensex on Wednesday closed lower by 137 points to over one-week low of 25,444.81 as investors turned cautious on fiscal numbers projected by the Economic Survey 2013-14.

Fiscal consolidation holds key for growth: Economic survey

India, which is currently grappling with several challenges including high inflation, low investments and a slowdown in economic growth, must have a sharp focus on fiscal correction by bringing in tax and subsidy reforms among other things, the Economic Survey 2013-14 said.

Retail inflation to have a low 7% handle in FY15: Barclays

Notwithstanding that the monsoon rains has remained below normal and concerns are building over a failed season, retail inflation is likely to have a low 7% handle in the current financial year, says a Barclays report.

Policy design flaws, clearance delays stymie infrastructure investments

Calling for an immediate intervention, the Economic Survey for 2013-14 has noted that the core sector investment in India has been hit due to design flaws in policies and delays in 110 central infrastructure projects, which has caused cost overruns in excess of rs 1.57 lakh crore.

Fast-track reforms, quick policy decisions key for services growth

The report pointed out that the country’s services sector that include IT-ITeS, shipping, ports, railways, tourism, hotels and restaurants among others had been growing at a steady rate of over 10% since 2005-06, but has shown 'subdued performance' in the last three years.

Before budget, FM calls on Manmohan Singh

While finance ministry sources called the meeting at Singh’s 3, Motilal Nehru Place residence a 'mere courtesy call with no discussion on either the Indian economy or the budget', this is the second recent occasion when Jaitley spent time with the ex-PM.

US Fed to end bond buying in October

The United States Federal Reserve on Wednesday announced it will end its bond buying programme by October saying the domestic economy looked on course to recovery.

Rupee logs worst drop in a month, down 44 paise at 60.19 against dollar

Moving in tandem with equities, the rupee on Thursday tumbled 44 paise, posting its biggest drop in nearly a month, to end at 60.19 against the dollar on a day the Narendra Modi-led government presented its maiden Budget.

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