The Hindu Business Line : Wednesday, October 07, 2009

Rupee strengthens to four-month high at 46.88
With dollar inflows likely to sustain, RBI may allow gradual firming up. The rupee on Tuesday breached the psychological level of 47 to the dollar on robust dollar inflows and the greenback’s weakness against the ...

Corporates prop up direct tax collections
New Delhi, Oct 6 Corporate tax collections grew 5.55 per cent during April-September 2009 at Rs 1,00,572 crore, up from Rs 95,283 crore in the same period last fiscal, the Central Board of Direct Taxes (CBDT) said in a statement here on ...

New team: The new CEO and... TODAY'S PICK (Latest Audio: English/Tamil)
ITC (Rs 246.9): Buy
We recommend a buy in the stock of ITC from a short-term perspective. It is perceptible from the charts of ITC that the stock has been on a long-term uptrend since its October 2008 low of Rs 132, forming higher peaks and bottoms. After ...

Day Trading Guide

Surge in equity fund offers in September
Nine documents filed with the regulator as Sensex rally continues. Nearly a dozen equity-based fund offer documents were filed with the Securities and Exchange Board of India during September, according to the regulator’s Web ...

Slowdown, gas row turn investors cautious on NELP bids
New Delhi, Oct. 6 With less then a week to go for the bids for the latest oil and gas auction round to close, investors seem to be treading cautiously. This time, the recession coupled with the gas row between the two Ambani brothers (Mukesh ...

Tariff war may pressure telecom operators’ revenues
Stocks take a beating on the bourses. New Delhi, Oct. 6 The ongoing tariff war in the cellular segment could bring down the average revenue per minute for operators, but it would also lead to consolidation in the industry, according to ...

‘We will scout for other opportunities’
MTN setback not slowing Bharti Airtel’s growth engine, says Sunil Bharti Mittal. Geneva, Oct. 6 Mr Sunil Bharti Mittal’s MTN dream may be over but he has clearly put all that behind him. The Chairman and group CEO of Bharti ...

IT cos expected to post sequential growth in Q2
Improved business sentiments, favourable forex movement. Bangalore, Oct. 6 The worst seems to be over for the Indian IT industry as analysts predict a return of sequential growth in the second quarter of fiscal 2010 helped by improvement in ...

Why India does not need the World Bank loan
An institutional loan must meet three requirements: It should come cheap; it should meet a genuine requirement; and its conditionalities, if any, should be acceptable. On September 22, the World Bank signed a $4.3-billion loan for capitalisation ...

Insurance brokerage firms see sharp decline in revenue
Fallout of reduction in commission, impact of slowdown on mediclaim policies. Hyderabad, Oct. 6 Insurance brokerage firms are finding themselves in a spot due to a sharp drop ...

Honda Motorcycle sees sales skidding 50% in Oct
Labour problems at Manesar plant; talks on for wage settlement. Mumbai, Oct. 6 Honda Motorcycle & Scooter India, which is grappling with a labour issue at its Manesar plant in Haryana, estimates its two-wheeler production to crash by 50 per ...

Rupee gains from dollar weakness
Rupee strengthened to a four-month high against the dollar to test the 47-mark as the greenback continued to be buffeted by sudden bouts of selling. The deluge of overseas inflow hitting our shores and arbitrage traders taking advantage of ...

Jet Air seeks FIPB nod to raise $400 m
Jet Airways has sought Foreign Investment Promotion Board (FIPB) approval to raise $400 million in the next three months. According to sources, the proposal could be considered on ...

A prison turns a liberator via satellite link
SABARMATI INITIATIVE. Ahmedabad, Oct. 6 Sabarmati Jail has become the first prison in India to own a satellite link for tele-medicine and tele-education centre at its campus. This has been done in collaboration with the Space Applications Centre ...

Busy wet session for East India as circulation ambles in
The Noida-based National Centre for Medium Range Weather Forecasting (NCMRWF) has delayed its outlook for formation of a cyclonic circulation over the northwest Bay of Bengal by a day to October 9 ...