Category Archives: Business

Business, Finance, Stock market & Investment News

Rupee depreciation can hit Exporters too !

Rupee depreciation can hit Exporters too !

Rupee depreciation has not only rattled the businesses involved in importing goods and services, but also exporters to the extent of margins eroded on account of excess volatility in the rupee-dollar exchange rate. Yesterday, the rupee had hit an all-time low of 52.70-mark against a dollar led by strong demand for the greenback from banks…Continue Reading

HDFC Bank emerges as India’s most valued lender !

HDFC Bank emerges as India’s most valued lender !

Recent fluctuations in the equity market have triggered the wild changes in the fortunes of the Indian companies. At first, it was Coal India grabbing the numero uno position from India’s largest private sector company by market capitalization Reliance Industries. However, the new draft mining bill spelled doom for Coal India prospects, which proposes give…Continue Reading

India’s September IIP data logs 1.9% growth !

India’s September IIP data logs 1.9% growth !

India’s September industrial output moved at a snail’s pace to inch higher by subdued 1.9% as against the same month last year. Adding to the woes, the IIP figures for August 2011 were revised downwardly to 3.6% from 4.1% marred by poor slowdown in manufacturing activity and decline in mining output. Moreover, India’s IIP index…Continue Reading

India’s Indirect Tax Revenues fall by 2.5% in October 2011 !

India’s Indirect Tax Revenues fall by 2.5% in October 2011 !

The indirect tax revenues for the exchequer fell by 2.5% to Rs.30278 crore in October 2011 as against Rs.31058 crore reported last year, led by slowdown in industrial production and cut in duty rates in petroleum products. Indirect tax revenues comprise of customs, excise and service tax. While the custom duty collections dropped by 11.6%…Continue Reading

SBI Q2 Profit at Rs.2810 cr, but NPAs falter !

SBI Q2 Profit at Rs.2810 cr, but NPAs falter !

State Bank of India posted Q2 net profit of Rs.2810 crore on higher net interest income (NII), up 12.34% from Rs.2501 crore reported during the quarter ended September 2010. This sparkling second quarter performance was tad above the market expectations. The NII for the quarter stood at Rs.10422 crore, up 28% from Rs.8115 crore a…Continue Reading

Moody’s downgrades Indian Banking outlook

Moody’s downgrades Indian Banking outlook

Moody’s Investors Service downgraded the outlook for the Indian banking system to negative from stable; citing slowdown in domestic economic growth, demand stifled by high interest rate and weaker asset quality affecting profitability. Moody’s vice-president Vineet Gupta quoted his pessimistic outlook as: “With asset quality, given the tightening environment, we anticipate that it will deteriorate…Continue Reading

Italy debt crisis: Too big to bailout !

Italy debt crisis: Too big to bailout !

Even as the Greek problems refuse to subside for the ailing Euro zone, Italy’s $2.5 trillion debt has ballooned in front of the globe as too big to bailout economy. Italy is the third largest economy in the euro zone with a debt of 120% of their GDP. Looking at the tumultuous crossover of events…Continue Reading

Entrepreneurship Lessons from Kaun Banega Crorepati !

Entrepreneurship Lessons from Kaun Banega Crorepati !

Quiz show ‘Kaun Banega Crorepati’ (KBC) is already into its 5th edition this year. This underscores the degree of success this reality show has met with Indian audiences. While some have attributed the success of the show to its clear set up, others have single-handedly credited its blockbuster success to its humble host Amitabh Bachchan.…Continue Reading

Bharti Airtel Q2 FY12 profit down 38% to Rs.1027 crore !

Bharti Airtel Q2 FY12 profit down 38% to Rs.1027 crore !

Bharti Airtel posted lower than expected second quarter net profit of Rs.1027 crore, down 38% from September-end quarter last year, marred by higher debt servicing costs and spectrum purchases. The telecom operator’s roll-out of 3G network resulted in higher amortization cost of Rs.164 crore during the quarter. Total sales for Q2 FY12 stood at Rs.17270…Continue Reading

M&M October sales jump 20% to 41506 units!

M&M October sales jump 20% to 41506 units!

Tractor major M&M reported 31% jump in its tractor sales to 31838 units in October 2011; even as the auto-maker logged in total sales of 41506 units, up 20.32% from 34495 units sold October 2010 period. Mahindra’s sales from passenger vehicles such as Scorpio, Xylo, Bolero and the all-new sports utility vehicle XUV500 amongst others…Continue Reading

HPCL reports Q2 Net Loss of Rs.3364 crore !

HPCL reports Q2 Net Loss of Rs.3364 crore !

State-owned HPCL posted a net loss of Rs.3364 crore for the second quarter ended September 2011 hit by under-recoveries on subsidized fuel sales, as against Rs.2089 crore profits for the year ago period. Moreover, the oil marketing firm HPCL’s losses arrived on the back of its healthy sales growth of 20.6% to Rs.37030 crore in…Continue Reading