-
The Reserve Bank of India (RBI) on Monday put further curbs on gold import mandating that banks and nominted agencies should retain 20 percent (or one fifth) of every lot of gold imports in the customs bonded warehouses. They will be able to import further gold only if they release the 75 percent of that stored gold for the purpose of exports.
-
Key equity benchmarks were down 1.5 percent as traders dump blue chip stocks post fourth quarter GDP data. Pulled down by poor performance of farm, manufacturing and mining sectors, India's economic growth slowed to 4.8 percent in the January-March quarter and fell to a decade's low of 5 percent for the entire 2012-13 fiscal
-
Ramesh Damani feels global money will continue to chase India, however if rupee goes beyond 57, it could be disastrous.
-
The FY13 GDP has also come in line with government estimates of 5 percent. Market and rupee remain largely unchanged to the news.
-
Prime Minister Manmohan Singh can look forward to a weekend of soul searching and harsh criticism. His government's efforts to kick the economy into higher gear have not worked wonders.
-
Total income increased by nine per cent to Rs 169.04 crore from Rs 155.18 crore in the quarter ended March 31, 2012, a company statement said.
-
A forecast of sub-five percent readings for the March quarter GDP growth is forecasted by economists and the annual GDP growth to a decadal low of around five per cent. India Q4 GDP numbers will be announced on May 30.
-
Traders who were apprehensive of SBI's restructured loan book, pressed the panic button. SBI shares tanked 8%. However, analysts tracking the bank saw it as an opportunity to buy at every decline. SBI shares are expected to rise between 15-25% next one year.
-
State Bank of India (SBI) is likely to report 12 percent year-on-year fall in its fourth quarter (January-March, FY13) net profit to Rs 3,568 crore on higher provisions against restructured loans and wage revisions. However, an expected increase in other income would compensate such provisions.
-
Air cooler maker Symphony says there continues to be a good demand for its products in India. But growth in US and Mexico has been modest and there has been some correction in sales.
-
ITC Ltd's fourth quarter net profit rose 19 percent year-on-year to Rs 1,928 crore. The cigarettes to hotels to FMCG major reported net sales of Rs 8,180 crore, also up 19 percent. Both profit and sales were above analysts expectations.
-
State owned Bank of India's fourth quarter (Jan - March) net profit shrank more than 20 percent year-on-year to Rs 757 crore, squeezed by higher provisions. Bank of India shares fell almost 5 percent on Monday to close the day's trading at Rs 324 on NSE.
-
Bank of Baroda's fourth quarter net profit may fall 31 percent Y-o-Y to Rs 1,051. Net interest income (NII) however would rise 6 percent, according to a poll estimate. The bank will announce its quarterly earnings on May 13, 2013. Investors are not advised to buy BoB shares at the current level.
-
Mutual funds sold shares worth nearly Rs 23,000 crore during the last fiscal, 2012-13, making it their biggest sell-off in 12 years.
-
Titan Industries' fourth quarter net profit rose 29 percent year-on-year to Rs 185 crore and net sales gained 15 percent to Rs 2,593 crore.
-
A flat FY13 and loss on the Iden Trust front are the main reasons for Polaris‘ fall in Q4 numbers says chairman and chief executive office, Arun Jain. The company posted a net profit of Rs 39.3 crore falling from Rs 40.2 crore quarter on quarter (QoQ).
-
Privately held HDFC Bank's fourth quarter (January – March, FY13) net profit is likely to grow at 32.6% year-on-year to Rs 1,926 crore. Net interest income or the difference between interest earned and paid out, would rise 17% y-o-y to Rs 3,969 crore, according to a poll estimate by CNBC Awaaz.
-
Barclays downgraded Bajaj Auto to "equal weight" from "overweight" on Thursday and maintained an "underweight" rating on Hero MotoCorp and TVS Motor saying the next twelve months would remain challenging for the two-wheeler industry in India.
-
Lenders are yet to break free of the clutches of the economic slowdown. Banks' fourth quarter (January-March, FY13) earnings are unlikely to have any positive surprises. Private lenders would continue to perform well while their public sector peers can see some moderation in net interest margins.
-
Passenger car sales in India fell 7 percent in FY2013, the first such decline in over a decade, Society of Indian Automobile Manufacturers said on Wednesday. The industry body is, however, hopeful of a pickup in FY14.
-
India's largest passenger car maker Maruti Suzuki's total sales in March slipped 5 percent year-on-year to 1.20 lakh units. But sales last month were a little higher than street expectations, sending its shares up 1.5 percent in morning trade.
-
India's second largest two-wheeler maker Bajaj Auto on Tuesday reported a 10 percent decline in sales in March at 3.01 lakh units amid continued sluggish demand for motorcycles.
-
The automobile industry is seeing a steady decline in demand and there are no signs of any pickup yet, RC Bhargava, the chairman of India's largest passenger car maker Maruti Suzuki said on Tuesday.
-
Its been a dismal year for India's automobile industry, but their woes are likely to continue well into next year, feels industry body Society of Indian Auto Manufacturers.
-
India's largest housing finance company HDFC is likely to report over 15% year-on-year growth in its third quarter (October-December, FY13) net profit at Rs 1,132 crore. Its total loan book would expand in the range of 20-22% y-o-y, according to an average estimate by 14 brokerages.
