Bernanke says highly accomodative policy needed for now
Federal Reserve Chairman Ben Bernanke said on Wednesday that the US central bank will continue to pursue an accommodative monetary policy for now as inflation remains low and the employment rate may be overstating the health of the labor market.
BSE Sensex, Nifty hold gains; Maruti, Wipro, Cipla losers
The market managed to maintain upmove throughout the day as Ben Bernanke boosted markets worldwide. The Nifty held 5900 with smart gains and is currently at 5933.85, up 117.15 points. The Sensex is up 382.88 points at 19677.00, and About 1304 shares have advanced, 919 shares declined, and 148 shares are unchanged.
Infosys Q1 net profit seen down 3% QoQ at Rs 2,315cr
Infosys will kickstart technology sector earnings with its first quarter results on Friday. Analysts on average expect Infosys' April-June quarter net profit to decline 3.3 percent quarter-on-quarter to Rs 2,315 crore, according to a CNBC-TV18 poll.
FM asks US to invest, says India is growth oriented
The Union Finance Minister P Chidambaram has defended Indian policies as growth oriented as he invited American companies to establish manufacturing plants in India during his meetings with the industry leaders and lawmakers of the US.
Macquarie cuts Maruti Suzuki to 'neutral'
Macquarie downgrades Maruti Suzuki India Ltd to "neutral" from "outperform" and cut its target price to Rs 1,525 from Rs 1,850 citing continued weakness in passenger vehicle demand and discounts on models.
Govt okays proposal to replace DGCA with new regulator
The government today cleared a proposal to replace DGCA with a new aviation regulator with full operational and financial autonomy. The new regulatory body would be called the Civil Aviation Authority (CAA) and would replace the Directorate General of Civil Aviation (DGCA).
Bharti Airtel to litigate telecom ministry's penalty notice
Bharti Airtel said it is "shocked" and "disappointed" to receive a demand notice of Rs 650 crore from the Department of Telecom. The company said it believes that demand for penalty is "devoid of any merit" and has no justification both on facts and in law.
Mahindra & Mahindra to cut output as SUV demand slows
Mahindra & Mahindra will observe "no production days" at its automotive plants this month as demand for sports utility vehicles, driving the auto industry till a few months ago, has started slowing on the back of a rise in excise duty and increase in diesel prices.
Mangalore Chem up 84% in 1 month; Zuari ups stake to 14%
Mangalore Chemicals and Fertilisers shares are locked at 10 percent upper circuit Thursday after Zuari Chemicals and Fertilisers increased its stake in the company to 14 percent.
Gammon India to monetise Mumbai property to cut debt
Debt-ridden Gammon India is likely to monetise its 185 acre Dombivali property in Mumbai, reports CNBC-TV18 quoting sources. The company's current debt stands at around Rs 3,500 crore and aims to cut it by Rs 2,000 crore by asset sale, sources add.
Shriram Transport to raise Rs 750 cr via NCD issue
Non-banking finance company Shriram Transport Finance Company (STFC) is entering the debt capital market on July 16, 2013 with a public issue of secured non convertible debentures (NCDs) of face value of Rs 1,000 each.
- Team Moneycontrol
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