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Ferrari Chairman Luca Cordero di Montezemolo's salary in 2010 was more than twice that of Fiat boss Sergio Marchionne, making him the best-paid executive in the whole Fiat Group.
Power trader PTC India plans to launch the initial public offering of its financial services unit by the middle of next month, its chairman said, a sign that firms are still upbeat about investor appetite despite a weak run in the markets this year.
Soaring oil costs will have little impact on Chinese consumer inflation, but will place considerable upward pressure on prices in the country's factories, a Chinese government researcher said on Thursday.
UTI Master Value Fund has announced a dividend, for which the record date has been fixed as on February 28, 2011.
Taurus Tax Shield Fund has announced a dividend, for which the record date has been fixed as on February 28, 2011.
Kotak Midcap Fund has announced a dividend, for which the record date has been fixed as on February 28, 2011.
Brent oil surged as much as 7.7% to its highest price since August 2008 on Thursday on concern the bloody unrest that has cut more than a quarter of OPEC-member Libya's output could spread to other producers including top exporter Saudi Arabia.
Deutsche Bank said on Thursday oil above USD 120 a barrel would be an inflection point for global economic growth.
\Goldman Sachs said on Thursday oil markets were driven by fears of unrest contagion to other producing nations after Libya and that another disruption could create severe oil shortages and require demand rationing.
The selling spree continued in the equity benchmarks - the Nifty broke the 5250 level on downside by shedding nearly 200 points and the Sensex crashed more than 600 points at 15:08 hours.
Anand Rathi Securities is bearish on Britannia Industries and has recommended sell rating on the stock with a target of Rs 313 in its February 22, 2011 research report.
Karvy Stock Broking is bullish on Ranbaxy Laboratories and has recommended a market performer rating on the stock with a target of Rs 538 in its February 23, 2011 research report.
Fairwealth Securities is bullish on Andhra Bank and has recommended buy rating on the stock with a target of Rs 195 in its February 24, 2011 research report.
The rupee fell further on Thursday given the surging crude oil prices and persistent weakness in domestic shares, a factor, traders said, would be closely eyed for cues on the local unit's intraday movement.
Anand Rathi Securities is bullish on Reliance Industries (RIL) and has recommended buy rating on the stock with a target of Rs 1250 in its February 21, 2011 research report.
Domestic investors have got a hit in the chin today. Indian equity benchmarks have got slaughtered in the afternoon trade as the Nifty touched the 5300-mark - on spike up in crude oil prices above USD 101/barrel on the rising Libya worries.
Oil prices hit 29-month highs on Thursday to near USD 120 a barrel on growing fears that the unrest in Libya could spread to other oil producing countries in the Middle East, threatening to derail global growth.
Mahindra and Mahindra touched an intraday high of Rs 640 and an intraday low of Rs 608.80. At 14:20 hrs the share was quoting at Rs 612.30, down Rs 27.45, or 4.29%.
Sterlite Industries (India) touched an intraday high of Rs 168.70 and an intraday low of Rs 159.70. At 14:15 hrs the share was quoting at Rs 162.10, down Rs 7.35, or 4.34% on the NSE.
Jaiprakash Associates was among major losers on the Nifty. It touched an intraday high of Rs 83.85 and an intraday low of Rs 78.60. At 14:12 hrs the share was quoting at Rs 79.80, down Rs 3.95, or 4.72%.
HCL Technologies was the top loser on the Nifty. It touched an intraday high of Rs 463.50 and an intraday low of Rs 425.50. At 14:06 hrs the share was quoting at Rs 432.15, down Rs 27.50, or 5.98%.
Shasun Pharmaceuticals touched an intraday high of Rs 56 and an intraday low of Rs 54.60. At 13:55 hrs the share was quoting at Rs 54.60, down Rs 1.50, or 2.67%.
Prabhudas Lilladher is bullish on Gujarat Pipavav Port (GPPL) and has recommended accumulate rating on the stock with a target of Rs 65 in its February 23, 2011 research report.
YouTube, the Google-owned video-sharing website, is banking on Bollywood and cricket to make its mark in the Indian market, looking at tie-ups with major studios to expand its movie library.
A career bureaucrat and finance ministry veteran, Subbarao served in the prime minister's economic advisory council in the Congress party government's previous term.
