Tuesday, February 19, 2013

Business:2/19/2013 8:13:06 AM

Sensex closes 135 points up

The BSE benchmark sensex on Tuesday closed at nearly two-week high level of 19,635 led by buying in blue-chips stocks such as ONGC, Infosys, TCS and ICICI Bank amid a firming European trend.

CCI to clear oil, gas blocks in 2 weeks: Montek

The government is likely to clear in next two weeks several of 39 oil and gas fields that are stuck for want of defence clearance, said Planning Commission deputy chairman Montek Singh Ahluwalia.

Gold, silver down on sluggish demand

Both the precious metals, gold and silver, fell on Tuesday due to sluggish demand and reduced offtake by industrial units and coin makers.

GDP to take Rs 20k cr hit from strike: ASSOCHAM

While sharing some of their concerns like rising prices, ASSOCHAM today appealed to the central trade unions to call off their two-day strike as the country's economy will take a hit of big hit of Rs 15,000-20,000 crore from the nation-wide disruption in economic activity.

Hotel Leela's shares gain 9 per cent

Hotel Leelaventure shares rise 9 per cent, a day after the company sold its IT park building in the city of Chennai for 1.7 billion rupees to Reliance Industries.

Forex, money markets closed for 'Shivaji Jayanti'

The Forex and money markets are closed on Tuesday on account of 'Chhatrapati Shivaji Maharaj Jayanti'.

Sensex down over 17 points

The BSE benchmark Sensex today declined by over 17 points in early trade as funds and retail investors booked profit amid weakness in other Asian bourses.

Iconic magazine Reader's Digest goes bankrupt

RDA Holding, publisher of the 91-year-old Reader's Digest magazine, filed for bankruptcy to cut $465 million in debt and focus on North American operations as consumers shift from print to electronic media.

Times, HDFC Bank launch credit card

Times Internet, the digital arm of The Times of India Group, has partnered with HDFC Bank to launch Times Card, a co-branded card that provides special offers such as 25% discount on movie tickets and 20% off on dining.

RIL not allowing access to accounts: CAG

Comptroller and Auditor General (CAG) Vinod Rai has sought government's intervention to ensure that it gets to investigate Reliance Industries Limited's (RIL) claim to have spent more than Rs 25,000 crore for developing the D-6 gas fields in the Krishna-Godavari basin.

Banking licence norms before March-end: RBI

The Reserve Bank is likely to come out with the final guidelines for new bank licences much before the end of the fiscal."We are in the process of issuing the licence guidelines. We should issue them soon.

Govt cancels Rs12k cr borrowing

The government on Monday cancelled the Rs 12,000 crore market borrowing scheduled for February 22 due to an improved cash situation and after a review of its funding requirement.

NHAI to pay up for delayed okays

In a first-of-its-kind move, the National Highways Authority of India (NHAI) is likely to pay per day penalty to private developers in build, operate and transfer (BOT) projects in case it fails to get statutory clearances and approvals in the scheduled time frame.

Bangalore, Madras stock exchanges to merge

The Bangalore Stock Exchange will be merged with the Madras Stock Exchange. The combined entity will become the single largest regional exchange in the country with over 1000 local companies listed exclusively on it.

Mercedes scales up India investment to Rs 850cr

Luxury car major Mercedes-Benz India has raised its investment to Rs 850 crore as part of the expansion plan of its factory at Pune, managing director and CEO Eberhard H Kern said.

UB Group hikes loan limit for Kingfisher

To accommodate further lending to debt-laden Kingfisher Airlines, its group holding firm United Breweries (Holdings) today said it is hiking its loan limit for the ailing carrier from Rs 300 crore to Rs 750 crore.

Rupee gains on fund inflows

The rupee came off one-month lows to end higher on Monday, as late inflows related to foreign funds selling dollars outweighed demand from oil importers and weak Asian currencies which were weighed down by continued worries about the potential for competitive devaluations.

Sensex closes 33 points up

The BSE benchmark sensex on Monday closed 33 points higher as investors indulged in selective buying mainly in realty and capital goods sectors ahead of the Union Budget.

Moily rules out fuel price hike rollback

Oil minister M Veerappa Moily on Monday ruled out a rollback in the Rs 1.50 a litre hike in petrol and 45 paise per litre increase in diesel ratess.

Jet shares down 7% amid Ethihad deal revision reports

Shares of Jet Airways today tanked more than seven per cent on bourses amid reports that the Abu Dhabi-based carrier Etihad is likely to revise its deal to buy a stake in the Indian carrier.

Unilever to invest 50 million euros for deodorant plant

Anglo-Dutch consumer goods company Unilever Plc said it will invest 50 million euros ($66.71 million) to set up an aerosol deodorant manufacturing plant in Maharashtra.

Rupee trades at one-month low vs dollar

The Indian rupee dropped by 11 paise to one-month low against the American currency at 54.33 in late morning trade on sustained dollar demand from banks and importers on the back of a firm greenback in overseas markets.

India's current account deficit double of 2006: Moody's

Moody's has said that India's high current account deficit makes the country more vulnerable to volatility in global markets. Moody's, Atsi Sheth, BoP

India's current account deficit double of 2006: Moody's

Moody's has said that India's high current account deficit makes the country more vulnerable to volatility in global markets. Moody's, Atsi Sheth, BoP

Rupee down 14 paise against dollar

The rupee declined by 14 paise to Rs 54.36 per dollar in early trade on the Interbank Foreign Exchange market on Monday.

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