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Evening Wrap: Top trending headlines on Tuesday

Here are the top headlines of the day:

August 06, 2013 / 05:35 PM IST

Here are the top headlines of the day:

Sensex crashes 449; rupee slide, Q1 nos spook investors

Stocks were hammered yet again Tuesday as a lethal cocktail of sliding rupee, worsening economic data and dismal quarterly corporate earnings, had investors fleeing.

Rupee hits record low, pares losses as new RBI chief named

The Indian rupee on Tuesday hit a record low of 61.79 against the US dollar, edging past previous low of 61.21. On Monday the currency had closed at 60.88/89.

Raghuram Rajan appointed 23rd RBI governor

Raghuram Rajan, the country's chief economic advisor, will take over the mantle of governorship of RBI from D Subbarao, who will retire in September this year.

Wockhardt falls 5% after Maharashtra FDA files 7 FIRs

Pharma major Wockhardt  hit its 5 percent lower circuit limit on Tuesday after the Maharashtra Food and Drug Administration filed 7 first information reports (FIRs) against the company alleging it sold a banned drug Spasmoproxyvon.

Unions opposed to even 5% stake sale in Coal India

Major trade unions on Monday opposed five percent stake sale in Coal India , with one of them threatening to go on indefinite strike if the government goes ahead with the proposal.

Indiareit raises $50m for redevelopment fund

Indiareit Fund Advisors, the real estate private equity arm of Piramal Enterprises, said on Tuesday it raised Rs 300 crore from domestic investors for a fund that will invest in redevelopment projects in India.

GMR may sell road assets to Malaysia's Khazanah: Sources

GMR Infrastructure may sell its four road assets for around Rs 1500-2000 crore and Malaysian sovereign fund Khazanah is the likely front-runner for the same.

StanChart profits sag after $1bn hit on Korea arm

Asia-focused bank Standard Chartered took a USD 1 billion hit on the value of its Korean business on Tuesday, pulling its first half profits down nearly 16 percent from a year ago.

Amazon founder Jeffrey Bezos to buy the Washington Post Inc founder Jeffrey P Bezos will buy the Washington Post newspaper for USD 250 million in a surprise deal that ends the Graham family's 80-year ownership and hands one of the country's most influential publications to the tech entrepreneur.

Key Earnings:

Tata Power Q1 loss at Rs 115cr on interest cost, forex woes

Crompton Greaves Q1 net drops 30% to Rs 60 cr on power woes

HOCL Q1 net loss widens to Rs 45.04cr

Firstsource Solutions reports 41.6 % jump in net profit


By: Team Moneycontrol

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