Category Archives: Business

Business, Finance, Stock market & Investment News

Maruti October 2011 Sales & Q2 Profits halved!

Maruti October 2011 Sales & Q2 Profits halved!

Maruti Suzuki has had a worst time dealing with the labour unrest at its key Manesar plant. It is but obvious that the opportunity loss and crippled production would negatively affect the carmaker’s sales and earnings performance. While Maruti’s Q2 profits halved to Rs.240 crore in July to September 2011 quarter, down 60% from Rs.598…Continue Reading

Wipro Q2 profits in at Rs.1301 crore !

Wipro Q2 profits in at Rs.1301 crore !

Wipro’s Q2 net profits came in at Rs.1301 crore, up 1.2% from Rs.1285 crore in the September-end quarter a year ago. Wipro is among the last large-cap IT companies to come out with its second quarter results announcement this year. The revenues of the flagship IT services business of the company arrived at Rs.6829 crore,…Continue Reading

L&T Q2 profits rise 4% to Rs.798 crore !

L&T  Q2 profits rise 4% to Rs.798 crore !

Blue-chip engineering company L&T reported Q2 FY 2011-12 net profit of Rs.798 crore, up 4.3% from Rs.765 crore in the corresponding quarter last year. Revenues for the quarter arrived at Rs.11375 crore, registering a growth of 19% from Rs.9504 crore a year ago. L&T culminated its order book size to Rs.142185 crore, including Rs.16096 crore…Continue Reading

World Bank cuts Indian growth forecast to 7-8%

World Bank cuts Indian growth forecast to 7-8%

World Bank has forecasted a slower 7-8% growth rate in next couple of years for the Indian economy. Gone are those days of near double-digit growth rate in the domestically-fired Indian economy. Indian economy grew by 8.5% in the fiscal 2010-11. However, the World Bank expects inflation to ease in the October-December quarter of this…Continue Reading

Spain’s hat-trick in rating downgrades!

Spain’s hat-trick in rating downgrades!

Spain gets a consensus downgrade rating call from three credit rating agencies – Standard & Poor’s, Fitch Ratings and now even Moody’s on renewed concerns of Spain’s banking system and growing challenges in the euro zone. In latest, Moody’s Investors Service has slashed Spain’s sovereign rating by two notches to A1 from Aa2, with negative…Continue Reading

Hero MotoCorp Q2 profits at Rs.604 crore

Hero MotoCorp Q2 profits at Rs.604 crore

Hero MotoCorp posted Q2 net profit of Rs.604 crore, up 19.4% from Rs.506 crore logged during the quarter ended September a year ago. Total income of the two-wheeler giant came in almost 28% higher at Rs.5784 crore from the year ago period. Hero MotoCorp MD and CEO, Pawan Munjal said: “Our solid performance over the…Continue Reading

TCS Q2 profit logs tepid 6% growth!

TCS Q2 profit logs tepid 6% growth!

TCS Q2 net profits logged tepid 6.1% growth to Rs.2301 crore year-on-year; on account of decreasing pricing power of the India’s largest IT outsourcing company despite increased IT spending to improve efficiency amid global slowdown. However, the management sounded positive about its burgeoning order book and incremental spending by overseas clients to combat the macroeconomic…Continue Reading

HDFC posts 20% growth in Q2 profits!

HDFC posts 20% growth in Q2 profits!

HDFC Q2 FY 2011-12 net profits spurted by 20.3% to Rs.971 crore from Rs.808 crore a year ago. The country’s largest mortgage lender reported a 38% growth in its revenues to Rs.7877 crore, backed by rising aspiration of the middle-class population to buy home on loan. Moreover, amid rising interest rate scenario, HDFC has logged…Continue Reading

RIL shares dip on disappointing Q2 Results!

RIL shares dip on disappointing Q2 Results!

Markets gave thumbs down to RIL shares on drop in its Gross Refining Margins (GRMs) to $10.1 a barrel, from $10.3 per barrel year-on-year, and decline in gas production from KG-D6 block leading to subdued Q2 performance. Reliance reported Q2 profits of Rs.5703 crore, up 15.8% from Rs.4923 crore on YoY. The oil refiner’s turnover…Continue Reading

Microsoft Windows Phone 7.5 Mango update!

Microsoft Windows Phone 7.5 Mango update!

Microsoft’s Mango update with feature-packed Windows Phone 7.5 has been rolled out in India. Mango’s initial release dates back to a year-ago period with Microsoft’s Windows Phone 7 platform, which brought in expanded mobile platform with more than 500 new features, and APIs, but was a drag when it came to multi-tasking. The Windows Phone…Continue Reading

India among Top 12 nations in HNI population!

As per Asia-Pacific Wealth Report, the number of India’s high net worth individuals (HNI) grew by 20.8% in 2010, making a cut in to top 12 nations in terms of HNI population. Not surprisingly, Asia-Pacific region recorded the strongest regional rate in the world in terms of HNI population growth last year. India had experienced…Continue Reading

S&P’s downgrade of Spain worsens Euro zone crisis!

S&P’s downgrade of Spain worsens Euro zone crisis!

Standard & Poor’s cut Spain’s long-term credit rating by one notch to “AA-”, from double A rating, on renewed concerns of Spain’s banking system and growing challenges for the country’s private sector in seeking fresh external financing. With this downgrade of Spain, the euro zone’s fourth largest economy (while Italy is third largest economy) has…Continue Reading

Technical analysis of NSE Nifty Index!

Technical analysis of NSE Nifty Index!

Amid all the negative rumblings of the global macroeconomic crisis, NSE Nifty has largely remained range bound in a broad 450-point range turning to-and-fro from the crucial short-term support at Nifty 4725 and upside resistance at 5175 levels. Let’s have a look at indications from Nifty’s Daily Charts: Call it as mere co-incidence or sheer…Continue Reading

IIP August data at 4.1%; Moody’s raises an alarm!

IIP August data at 4.1%; Moody’s raises an alarm!

The August IIP data arrived at a weaker 4.1% from year-ago levels led by poor slowdown in manufacturing activity and decline in mining output. The July IIP number had come in at a dismal 3.3%on account of slowing growth and consumer demand. However, the July industrial output figures were revised to 3.84%. Moreover, industry experts…Continue Reading