Category: Business
Sensex, Nifty led by liquidity hopes:
The BSE Sensex edged higher on the first day of the quarter, as banking stocks rose for a second session in a row on expectation that the cash crunch that had constrained the sector in March will ease in the new fiscal year thanks to government spending and a more vigilant RBI. Banking shares had [...]
HSBC manufacturing Purchasing Managers’ Index (PMI)
The expansion of India’s factory sector slowed for a third month in March as growth in new orders eased and costs for raw materials kept rising, a business survey showed on Monday. The HSBC manufacturing Purchasing Managers’ Index (PMI), compiled by Markit, eased to 54.7 in March from 56.6 in February. In January, the PMI [...]
PMI data showing more than big fall:Nomura
The PMI data, a prelude to IIP has registered a marginal downtick from 56.6% seen in February to 54.7% in March . This decline was mainly due to easing of growth in new orders and rise in costs for raw materials. According to SonalVarma, India Economist, Nomura Financial Advisory & Securities (India) while the number is [...]
Maruti’s compact car sales surged near 24% from a year ago to 27,913 units,
Maruti Suzuki reported a lower-than-expected sales growth of 3.3% year-on-year in March as strong demand for its Swift and DZire cars was offset by a decline in sales across its mini, van and mid-size segments. In March, the India’s largest passenger car maker sold 1,25,952 units, compared with a CNBC-TV18 poll of 1.32 lakh unit sales. [...]
Jindal Steel and Power is still waiting to start digging for coal to fuel for India’s industrial ambitions:
Ten years after announcing the project, Jindal Steel and Power is still waiting to start digging for coal to fuel its USD 3.1 billion steel and power complex in Orissa. The project is one of several industrial ventures mired in a bureaucratic morass that contributes to the massive power shortages plaguing India, dulling its investment [...]
Kingfisher has dues to the tune of Rs 76 crore
The Kingfisher Airlines staff members who have not been paid their salaries for the past few months have written to the Royal Challengers Bangalore team urging the players to boycott the Indian Premier League (IPL) so that they get their dues. A section of Kingfisher pilots held a meeting in Delhi to decide the future [...]
ACC, Ambuja Cements recorded sales year-on-year:
ACC and AmbujaCements , the largest cement producing companies in the country have recorded 7.3% and 12.38% jump in their sales year-on-year, indicating increase in construction activities across sectors. While ACC despatched 23.4 lakh tonnes of cement versus 21.8 lakh tonnes y-o-y, Ambuja too saw its despatches go upto 21.78 lakh tonnes from the earlier [...]
Advent International invests USD $105 million in India’s Care:
UK-based private equity fund Advent International has invested about USD 105 million in India’s Care Hospitals by acquiring shares from some of the existing investors and injecting additional capital into the business. Care is the largest multi-specialty hospital chain in South India, with strength in cardiac care, neurology, nephrology and general medicine, the private equity [...]
Tata Motors Ltd and Mahindra & Mahindra Ltd , which both posted their highest-ever monthly sales.
New car sales in Japan surged in March from a disaster-hit low last year, while global sales for South Korea’s Hyundai Motor Co also grew as brisk overseas sales made up for a sharp drop at home. Sales of new cars, trucks and buses excluding 660cc minivehicles jumped 78% to 497,959 vehicles in Japan, marking [...]
Egyptian military judges dropped convictions against Muslim Brotherhood presidential candidate
The Brotherhood said March 31 that el-Shater was its candidate for the presidential election that begins May 23 and May 24, making him one of the favorites to win and potentially increasing tensions between the once-banned group and the generals who currently rule the nation. He received 58 out of 110 votes at a meeting of the [...]
