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Sat,25 May 2013

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Market snaps five-week rally; Sensex, Nifty tank 3%

A string of negative factors weighed heavily on the market as both benchmark indices, S&P Sensex and CNX Nifty, came off their nearly 30-month highs and tumbled 2.9% and 3.3% respectively during the week.

Expat Indian CEOs charm with new moves

Indian-born CEOs in the West have come a long way from the 1980s, when they were seen as geeks and nerds barely capable of making it to the top job. HT reports.

NPS funds doing well. Should you invest?

The Pension Fund Regulatory and Development Authority (PFRDA) declared the annual weighted average returns for the NPS investment funds on May 15. Deepti Bhaskaran reports. NPS performance

Contain uncontrolled passion for gold: Chidambaram

Finance Minister P Chidambaram today asked countrymen to contain their "uncontrolled passion" for gold and instead save in financial instruments.

Jet Airways shareholders approve Etihad deal

Shareholders in India's Jet Airways approved an agreed sale of a 24% stake in the airline to Abu Dhabi's Etihad Airways, a senior executive at the Indian carrier said today.

Tata Steel surges; Jan-March operating profit beats estimates

Tata Steel Ltd shares rose more than 5% on Friday after its January-March quarterly operating profit beat analyst estimates.

Sensex in mood swing, yo-yos away to end almost flat

Stocks zig-zagged up and down on the Bombay Stock Exchange on Friday, indicating a volatile mood after a rally this year stymied by concerns on a weakening rupee and uncertainties in the global environment and local corporate performance.

Wockhardt shares fall for 2nd day; slump 19% in early trade

Extending losses for the second day in a row, shares of Wockhardt today plummeted by over 19%, after the company said import alert issued by US health regulator on its manufacturing facility near Aurangabad could impact the company's business by $100 million.

Malvinder hits back, says Daiichi trying to shift blame from itself

A day after Japanese drugmaker Daiichi Sankyo legal threat against Ranbaxy, founder Malvinder Mohan Singh hits back saying that the Japanese drug giant was “trying desperately to shift the blame away from itself.” Gaurav Choudhury reports. The root of the dispute

Sebi, CCI seek clarity on Jet-Etihad deal, changes likely

Abu Dhabi carrier Etihad’s Rs. 2,058-crore stake purchase in Jet Airways seems to have hit an air pocket, with regulators seeking more clarity on the deal to ensure overall competition in the aviation market is not affected and interests of public shareholders and consumers are protected.

Sensex falls 388 points on US stimulus scare

The BSE Sensex on Thursday plummeted 388 points, or 1.9%, to 19,674 on Thursday in line with nervous global markets after concerns that the US may scale down its bond-buying stimulus to inject money supply for growth. HT reports. Dollar-induced doldrums

Nissan to recall 841,000 vehicles due to steering wheel glitch

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.

Steps to boost foreign investment coming soon

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

As rupee falls to 8-1/2 month low, more weakness in store

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.

Sensex down 364 points at mid-session on US stimulus, China worries

Sensex down 131 pts in late morning deals

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.

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