Monday, February 4, 2013

Business:2/5/2013 7:21:41 AM



Etihad to take a final call on buying stake in Jet

Gulf carrier Etihad, which is tipped to acquire 24 per cent stake in Jet Airways, today said it would complete due diligence on the Indian carrier within a week and leave it to its board to take a final view on the matter.






Rupee ends off 3-1/2 month high

The rupee fell on Monday, retreating from a three-and-a-half-month high touched earlier in the session, hit by a fall in domestic shares although inflows from an upcoming government stake sale could support the local currency this week.






Citigroup on how India can meet its 5.3% fiscal deficit target

With finance minister P Chidambaram repeatedly stressing on keeping the fiscal deficit at 5.3% of GDP, analysts will keep a close watch on the income and expenditure figures in this year's Budget.






Sensex falls 30 points on profit-booking

The BSE benchmark Sensex today closed 30 points lower due to profit-booking mainly in banking and oil stocks amid weak quartelry earnings by some banks.






Gold declines for third-day on subdued demand

Gold prices dipped for the third day, losing Rs 50 to settle at Rs 30,750 per ten grams in the national capital today on sustained selling by stockists, driven by sluggish demand at prevailing higher levels.






AI flew Dreamliners after grounding order

Air India flew some of its Boeing Co 787 Dreamliner aircraft even after US regulators grounded the global fleet last month due to undiagnosed battery problems.






Panasonic shares soar nearly 17% on earnings

Panasonic shares soared nearly 17 percent on Monday as investors reacted to the Japanese electronics giant's latest earnings, while rivals Sony and Sharp also spiked on upbeat sentiment.






Etihad Airways posts 200% rise in profit

Etihad Airways, the fast-growing carrier of Abu Dhabi, posted a 200 percent rise in net profit in 2012 and a 17 percent increase in revenues, the airlines said in a statement Monday.






Sensex trims initial gains, still up 95 points

The BSE benchmark Sensex trimmed its initial gains but was still quoted higher by 95 points in the late morning trade on the back of fresh buying mainly in Auto, Realty, Consumer Durable and Banking sectors amid firm global cues.






Rupee diminishes initial gains but still up by 13 paise

In line with equity market, the Indian rupee failed to maintain its initial gains against the American currency, but was still quoted higher by 13 paise to 53.06 per dollar in the late morning trade on selling of dollars by banks amidst weakness of dollar overseas.






Sensex gains over 121 points in early trade

The BSE benchmark sensex gained over 121 points in early trade on Monday on emergence of buying by funds and retailers amid a firming Asian trend.






Rupee rises past dollar to over 3 month high

The rupee breached the key psychological 53-to-a-dollar level to rise to an over three-and-half-month high on Monday on bullish risk sentiment and lined-up dollar inflows.






US opposes local IT goods sourcing norms

Sources said the US official told his Indian counterparts that American companies were worried about the local content requirement and preferential market access although they are interested in the information technology sector.




US opposes local IT goods sourcing norms

Sources said the US official told his Indian counterparts that American companies were worried about the local content requirement and preferential market access although they are interested in the information technology sector.






Govt may go for strategic sale in IFCI

Sources said the view in government is that the Centre has managed to realize a good value on its investment of Rs 900 crore, which was given to IFCI by way of convertible shares at the start of the millennium.






Govt's selloff plan may hit Vedanta

In 2001, the government had sold a 51% stake in Balco to Sterlite Industries, leaving it with 49% holding. It holds a tad less than 30% in Hindustan Zinc, while Sterlite has close to 65% stake.






Diageo set to take charge at United Spirits

Drinks giant Diageo has readied plans to take charge at United Spirits (USL), where it is buying a more than $2-billion stake in multiple stages.






Blackstone set for big profit in Bangalore real estate JV

Blackstone is exiting a joint venture with southern developer Embassy Property Developments, building 467 residential units, raking in more than Rs 210 crore, said people familiar with the matter.






Q3 revenue growth at 2-year-low

Revenue growth of top Indian companies that have announced their results for the October-December quarter is down to a two-year low of 10.6% on an annual basis, thanks mainly to pressure on volumes.






Posco land acquisition resumes amid clashes

After being halted for more than a year, land acquisition for the showpiece Rs 52,000-crore Posco steel plant in Odisha resumed today amid clashes between police and protesters.






Hero Motocorp's highest ever monthly sales in Jan

Two-wheeler manufacturer Hero MotoCorp on Sunday said it has recorded highest monthly sales of 5,57,797 units in January 2013.






RINL may spend Rs 2,000 cr for capex in FY'14

Rashtriya Ispat Nigam Limited, the corporate entity of Vizag Steel, may spend Rs 2,000 crore in the next financial year towards capital expenditure, a senior official of the steel maker said.






LIC cuts stake in 27 Nifty firms

State-run insurance giant LIC has lowered its holdings in as many as 27 of the 50 blue-chip firms forming the market benchmark index Nifty, while selling shares worth an estimated Rs 8,000 crore.






BHEL granted Maharatna status

Power equipment maker Bharat Heavy Electricals Ltd (BHEL) today said it has been granted Maharatna status by the government.






Wal-Mart lobbying in US for India entry

Wal-Mart has been waiting for years to open its supermarkets in India and it has been lobbying with the US lawmakers since at least 2008 to facilitate its entry.


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