News

Stock markets may witness some consolidation this week after key indices closed at fresh multi-year highs and corporate earnings from SBI, Tata Steel and Larsen & Toubro will decide the course, experts said.

A government-appointed committee that was looking into allegations of US retail major Walmart’s lobbying activities to enter the Indian market has submitted its report to corporate affairs minister Sachin Pilot on Saturday.

Public sector lender State Bank of India chairman Pratip Chaudhuri today said the lender's margins in overseas business were under pressure. However, NPA levels of the bank in the fourth quarter last fiscal remained low compared to third quarter.

Tata Motors today said it has raised 350 million Singapore dollars (about Rs. 1,525 crore) through issue of securities in Singapore, mainly for redemption of preference shares.

The return of Vikram Pandit to India amid an expected flurry of new licences in the banking sector got a welcome salutetoday, as shares of his partner Nimesh Kampani’s  JM Financial surged by 13%. HT reports.

Safe strategy: Put in funds to reap long-term gains but don’t forget to stash away enough cash to meet short and medium term needs. Lisa Pallavi Barbora reports.

Yahoo! has begun talks with the popular blogging platform Tumblr about an acquisition or strategic alliance, the technology website AllThingsD reported today.

Air India has sought compensation from Boeing for Dreamliners not meeting the 20% fuel efficiency claims as the airline could achieve only a tad over 17% fuel economy by its six 787s, a source said.

Extending gains for the fourth day in a row, the BSE benchmark Sensex on Friday rose by 39 points, mainly on buying in power, capital goods and realty sector stocks amid increased foreign inflows.

The rupee today lost 21 paise to 54.98 against the dollar in early trade on the Interbank Foreign Exchange due to appreciation of the US currency against euro overseas.

Global ratings agency Standard & Poor's (S&P) on Friday said its outlook on India remained negative and there is a one-in-three chance of a downgrade within the next 12 months.

Gold futures prices today fell by 0.31% to Rs. 26,050 per 10 grams as participants indulged in reducing exposures, largely in tandem with a global trend where the metal dipped to one-month low.

A $1.6-billion writedown of its goodwill and assets in its European operations last Monday has triggered fresh speculation that Tata Steel is poised to divest more assets and factories in Europe. HT reports. The sell-off chorus gets louder

It was a tough quarter for Wal-Mart Stores Inc. The world's largest retailer reported today that its first-quarter profit edged up slightly, but the company struggled with a sales slump in its namesake business.

Mauritius today said that a new Tax Information Exchange Agreement (TIEA) with India has been negotiated and is ready to be signed, which would help the two countries exchange information on tax matters of the entities doing business in the two countries