Wednesday, February 13, 2013

Business:2/14/2013 8:07:17 PM

Companies bridge gender gap on shop floor

In what can be termed as a positive comment on how women are opening up to hard-core shop floor jobs, Maruti Suzuki India more than doubled its number of women employees in manufacturing between 2010 and 2013, a period which also includes one of its worst labour unrests.

DoT slaps Rs 878cr demand on Vodafone

Department of Telecommunications (DoT) has raised a demand of around Rs 877.6 crore from Vodafone as spectrum charges for the period between 2008-09 and 2011-12, sources said.

Ramnath's fund to invest in Bangalore company

Multiples will pay Rs 182 crore for the large minority stake, said people briefed on the matter.Last month, .

Exports rise, snap 8-month fall

Exports went up 0.8% to $25.6 in January 2013, ending eight straight months of decline. Imports during the first month of 2013 are estimated to have increased by 6.1% to $45.6 billion.

KFA stock dips 5%, no flights in summer

A day after banks decided to recall their Rs 7,000-crore loans to Kingfisher Airlines (KFA), the aviation ministry firmly contradicted the management's claim of flying this summer.

Budget: Govt may target Rs 400bn from stake sales

The government is likely to target 400 billion rupees in proceeds from stake sales in state-run companies in the next fiscal year, a finance ministry official with direct knowledge of budget talks told Reuters on Wednesday.

Rupee snaps five-day fall as shares, euro gain

The rupee strengthened on Wednesday, snapping a five-day losing streak, helped by gains in domestic share markets and the euro, and as the trade deficit did not widen as much as some analysts had feared.

Tata Steel Q3 net loss widens, misses estimates

Tata Steel posted its second straight quarterly loss on Wednesday, as weak demand and prices in its main European market squeezed margins.

IOC to review diesel prices this week

Indian Oil Corporation, the country's largest state-owned refiner, will review diesel prices on Friday or Saturdy, chairman RS Butola said.

Govt may inject $3.7bn in banks in FY14

The government is likely to allocate 200 billion rupees for capital infusion in state-run banks in the next financial year, a finance ministry official with direct knowledge of budget talks told Reuters on Wednesday.

Sensex gains for second day

The BSE Sensex rose for a second consecutive session on Wednesday with TCS hitting a record high after an industry body forecast software exports would grow in the next fiscal year, while Tata Motors gained after key unit JLR reported a surge in monthly sales.

Sensex up more than half a per cent

A benchmark index for Indian equities market was trading more than half a per cent up in the late afternoon trade session on Wednesday, as automobile, information technology and bank stocks rallied.

Kingfisher shares dive on loan recall plan

Shares of India's debt-laden Kingfisher Airlines plunged on Wednesday after banks said they would start recalling loans worth $1.5 billion, which analysts said spelled the end for the carrier.

Rupee up by 7 paise vs dollar

The rupee today rose by seven paise to 53.78 against the dollar in early trade at the Interbank Foreign Exchange on selling of the US currency amid increased capital inflows.

Sensex up 88 pts on sustained buying

The BSE benchmark Sensex on Wednesday rose over 88 points in early trade on sustained buying by funds and retailers.

Hero Motocorp goes off cricket pitch

Cricket seems to have lost its Hero. The leading two-wheeler manufacturer, led by the Munjal family, has consciously decided to move out of all cricket sponsorships.

Bank credit not fundamental right: RBI

The Reserve Bank of India has said that while every individual can open a bank account, bank credit cannot be considered a fundamental right.

Japan keen to invest in Indian hospitality sector

Japan on Tuesday expressed interest in investing in hospitality and strengthen its cooperation with India in the tourism sector through road shows and travel by industry stakeholders and exchange of information.

IT business to grow faster next year

The Indian IT industry is expected to do marginally better in the next financial year. The industry's apex body Nasscom on Tuesday forecast that software exports would grow between 12% and 14% to $87 billion in 2013-14.

Reforms spur FIIs to up stakes in sensex cos

With foreign institutional investors (FIIs) pumping in a net $24.4 billion in Indian stocks in 2012, most of which came towards the end of the year, their stakes in blue-chip companies have increased significantly.

Preventive healthcare: Insurers join the party

After hospitals, insurers have now jumped onto the preventive healthcare bandwagon.

Jaguar Land Rover global sales up 32% in Jan

Tata Motors-owned Jaguar Land Rover (JLR) today reported 32% increase in global sales for last month at 34,877 units.

Rupee closes at 53.85 against dollar

After falling to three-week low of 54.07 on sluggish industrial output and rising inflation, the rupee on Tuesday wiped out losses to end stable at 53.85.

Honda launches new CRV

The CR-V, once a popular model, had seen demand virtually disappear from the market as rapid dieselisation and entry of newer models like Toyota Fortuner, BMW X1 and Audi Q3 hit its fortunes.

Italy bans short-selling of Finmeccanica shares

Italian police arrested the head of Finmeccanica in a corruption probe centred on the sale of helicopters to the Indian government.

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