RBI hints at cut in interest rates-news04062012

Ahead of its mid-quarterly policy review, the Reserve Bank of India (RBI) today (June 4, 2012) hinted at cut in interest rates, saying moderation in inflation due to lower economic growth and cooling global oil prices provide room for easing monetary policy.

Markets pare losses; ONGC, L&T, RIL up-news04062012

The key benchmark indices pared most of its losses in the late afternoon session, on the back of buying visible in the capital goods, auto and banking sectors.

Man Inds bags orders worth Rs800 cr-news04062012

Man Industries (India) has received new orders worth approx. Rs800 crores from Middle East and domestic customers for supply of large dia meter pipes for Oil and Gas sector. Out of this, company has received confirmed financial arrangements for partial quantity and for remaining quantity the financial arrangements will be made by the client in due course of time as the execution progresses.

FM examining raising excise duty on diesel cars-news04062012

The Finance Ministry (FM) is examining a proposal to hike excise duty on diesel cars, a move which may discourage consumption of subsidised fuel by personal vehicle owners, a senior government official said today.

Future Capital hits monthly high on Warbug Pincus buy-news04062012

Future Capital Holdings surged over 9% and Pantaloon Retail (India) rose nearly 7% on the BSE, after the Warburg Pincus LLC is set to buy a majority holding in the company from Pantaloon Retail India.

Aviation stock rises on abolition of service tax-news04062012

Shares of three aviation companies rose, on reports the aviation ministry has called for abolition of service tax on air tickets and reduction in sales tax on aviation fuel from an average 25% to a uniform 4%.

ACL's cement production rises 8.75%; stk up-news04062012

Shares of Ambuja Cements Ltd ( ACL) rose nearly 2%, touching the day's high of Rs150.65, after cement production rose 8.75% while dispatches rose 11.91% in May 2012 over May 2011.

Lanco to ramp up prodn from Australia mines-news04062012

Lanco Infratech is working out a strategic plan to ramp up production from Griffin Coal mines in Australia to 18 million tonnes (MT) a year by 2017-18. The programme would cost the company up to $1 billion.

Govt to favor restructuring of textile loans-news04062012

According to the reports, the government has said that it will support textile units facing hard times and not put pressure on the banks. The finance ministry has made an assessment of the impact of debt restructuring for textile units on the public sector banks.

Bajaj Auto May sales slip 2% YoY-news04062012

Bajaj Auto has reported a 2% declined in its total vehicle sales for the month of May 2012.
Motorcycle sales for the month are up only 1% at 321,922 units (vs 317,989 last year) while commercial vehicle sales have slumped 26% at 30,297 units.

FM cliques to set off large projects-news04062012

The government is out to remove regulatory obstacles to growth days after India's GDP data showed a worrying slump to 6.5% in 2011-12, the worst in nine years. Finance Minister Pranab Mukherjee will today review 32 large infrastructure projects involving a total investment of about Rs180,000 crore with a view to removing bottlenecks in their way.

DLF hits 3-yr low of Rs169.55-news04062012

DLF fells over 7% and touched the 52-week low of Rs169.55 on the BSE, its lowest level since March 2009, on back of huge volumes. As many as a combined 2.8 million shares have already changed hands on the counter in morning trades, against an average less than 4.3 million shares that were traded daily in past two weeks on both the exchanges.

Partial relief for petrol users; price cuts by Rs2/litre-news04062012

In a partial rollback, oil marketing companies cut petrol prices by Rs2 a litre with effect from midnight June 02, 2012 Saturday after crude prices softened in the global market, easing pressure on a government that faced a political backlash for hiking prices 10 days ago.

Cairn India falls as crude price dips-news04062012

Shares of Cairn India plunged nearly 5%, touching the monthly low to Rs301.10, as crude futures fell for the fifth straight day today, (June 04, 2012), its lowest level in almost eight months on signs of an economic slowdown in the US and China.

Rupee slips 4 paise to 55.58/dollar-news04062012

The rupee today (June 4, 2012) lost four paise to 55.58 against the dollar in early trade as the American currency gained strength against euro and other Asian currencies.

Maharashtra denies green nod to Shangri La-news04062012

he proposed 40-storey five-star hotel in Lower Parel being developed under the Shangri-La luxury brand may not get environmental clearance following an adverse recommendation by the State Expert Appraisal Committee ( SEAC) of the Union environment ministry.

ACC falls on modest growth in May cement dispatches-news04062012

Shares of ACC fell by 2%, touching the monthly low of Rs1105.05, after the company said its cement despatches rose a marginal 3.01% to 2.05 million tonnes in May 2012 over May 2011.

Indian Bank downgraded to negative by Fitch-news04062012

Global rating agency Fitch on Friday (June 01, 2012) downgraded state-run Indian Bank credit outlook to negative from stable.

Future Capital gains 6% in weak market-news04062012

Future Capital Holdings rose over 8% and touched the day’s high of Rs148.25 on the BSE, ahead of the board meeting today to decide on the valuation for divestment of the entire promoter stake of 56.30% stake to Warburg Pincus.

Wipro gets 10 year deal from Manipal Health Enterprises-news04062012

Wipro Infotech, the India and Middle East IT business unit of Wipro, said it has bagged a 10-year contract from Manipal Health Enterprises (MHE).