Business news

International Commercial Vehicle Fair commences in Chennai

Chennai, Oct 05 (ANI): A three-day International Commercial Vehicle Fair commenced in Chennai in order to create an ideal platform for the vehicle industry to experience and discover the new technologies and share the products that have been produced for the development of the economic sector of the country. Experts in Chennai blamed the unstable economy for the breakdown of Auto Industry, which is currently facing a reverse gear due to slow down. J Shanmugavel, Project Director referred the transport industry to be the mirror of the failing economy. The fair is conducted in India exclusively for the commercial vehicle segment and is supported by seven major associations witnessing a participation of more than four thousand professionals.

Oct 5, 2013

Kolkata hosts week long Seven Sisters Weave Fair

Kolkata, Oct 05 (ANI): The week-long handicraft fair was held in Kolkata and it attracted participants from the northeastern states. Soni, an exhibitor from Nagaland, showcased a variety of products like bags, cushion covers, fabrics and Naga shawls. She was thrilled by the response of the people.

Oct 5, 2013

BSE closes points 22.25 up on October 4

New Delhi, October 4 (ANI): Trading at the Bombay Stock Exchange today closed 22.25 points up to stand at 19924.32. At the National Stock Exchange the Nifty closed 2.40 points down to stand at 5,907.30. Sobha Developers Ltd and Prestige Estates were among the top gainers of Group A with an increase of 8.60% and 6.09% along with Motherson Sumi Systems and Muthoot Finance with an increase of 5.96% and 4.95% respectively, while the top losers of Group A include Wockhardt and Dish TV India with a decrease of 4.99% and 3.01% along with Reliance Communications Ltd and Dr Reddys Lab with a decrease of 2.84% and 2.81% at the close of the markets. The Auto sector is up 117.42 points at 11,476.98 while the banking sector is down 21.83 points at 11,618.68 and the realty sector is up 22.87 points at 1,248.61. The Indian currency is up 0.48% at Rs 61.44 per dollar.

Oct 4, 2013

Former Army Gen suspects involvement of Pakistan Special Forces in Kashmir incursion

Kupwara/ New Delhi, Oct 03 (ANI): Former Army General, GD Bakshi, said on Thursday that the ongoing infiltration by Pakistan into India's Kashmir could not have continued even after being foiled without the support of Pakistan Special Forces while calling the Indo-Pak talks a strategy of Islamabad to divert New Delhi's attention. Bakshi said that the huge scale on which the infiltration was carried out, hinted on bigger motives than just seizure of Indian posts.

Oct 3, 2013

BSE closes points 381.14 up on October 3

New Delhi, October 3 (ANI): Trading at the Bombay Stock Exchange today closed 381.14 points up to stand at 19898.29. At the National Stock Exchange the Nifty closed 128.40 points up to stand at 5,980.45Financial Technologies and ING Vysya Bank were among the top gainers of Group A with an increase of 11.09% and 7.35% along with Sesa Goa and SAIL with an increase of 7.10% and 7.09% respectively, while the top losers of Group A include Wockhardt and Bosch with a decrease of 5.00% and 2.16% along with Hindustan Unilever and Amara Raja with a decrease of 1.91% and 1.89% at the close of the markets. The Auto sector is up 294.97 points at 11,390.78 while the banking sector is up 380.58 points at 11,637.63 and the realty sector is up 22.52 points at 1,224.82.The Indian currency is up 0.96% at Rs 61.86 per dollar.

Oct 3, 2013

BSE closes points 148.12 up on October 1

New Delhi, October 1 (ANI): Trading at the Bombay Stock Exchange today closed 148.12 points up to stand at 19527.89. At the National Stock Exchange the Nifty closed 44.75 points up to stand at 5,780.05. Jain Irrigation and Amara Raja were among the top gainers of Group A with an increase of 7.66% and 7.33% along with Tata Communications and DLF Ltd. with an increase of 6.82% and 6.58% respectively, while the top losers of Group A include Wockhardt and Tata Power with a decrease of 5.00% and 3.82% along with Castrol India and Container Corp with a decrease of 3.40% and 3.13% at the close of the markets. The Auto sector is up 118.21 points at 11,114.80 while the banking sector is up 292.86 points at 11,257.05 and the realty sector is up 31.02 points at 1,201.35. The Indian currency is up 0.35% at Rs 62.38 per dollar.

Oct 1, 2013

Consumers hail petrol price cut

Consumers on Tuesday welcomed the cut announced in petrol prices by the Indian Oil Corporation Limited (IOC), the first reduction in rates in over five months but anticipate further hike in fuel prices in the coming days. IOC, the country's biggest refiner, said on Monday (September 30) it would cut petrol prices by 4.8 percent following an appreciation of the rupee and softening global in gasoline prices during the second half of September. IOC however raised diesel prices by 1.1 percent to reduce its revenue losses as Indian refiners sell the fuel at state-set low prices. The consumers lauded the reduction in the petrol price but expressed their fear of a hike in future, while accusing the government of whimsical fuel pricing.

Oct 1, 2013

BSE closes points 400.36 down on September 30

New Delhi, Sep 30 (ANI): Trading at the Bombay Stock Exchange today closed 400.36 points down to stand at 19,326.91. At the National Stock Exchange the Nifty closed 97.90 points down to stand at 5,735.30. Britannia Industries and Gujarat State Petronet Ltd. were among the top gainers of Group A with an increase of 6.23% and 5.58% along with ING Vysya Bank and Shree Cement with an increase of 5.11% and 3.62% respectively, while the top losers of Group A include Essar Oil and Financial Technologies with a decrease of 7.61% and 6.43% along with Tata Steel and Yes Bank with a decrease of 5.65% and 5.63% at the close of the markets. The Auto sector is down 175.98 points at 10,985.72 while the banking sector is down 320.07 points at 10,964.19 and the realty sector is down 24.99 points at 1,170.33. The Indian currency is down 0.13% at Rs 62.59 per dollar.

Sep 30, 2013

BSE closes points 183.81 down on September 27

New Delhi, September 27 (ANI): Trading at the Bombay Stock Exchange today closed 183.81 points down to stand at 19,710.04. At the National Stock Exchange the Nifty closed 49.05 points down to stand at 5,833.20. United Spirits and Videocon Industries Ltd. were among the top gainers of Group A with an increase of 6.12 % and 6.05% along with BPCL and MRF with an increase of 5.62% and 5.41% respectively, while the top losers of Group A include Financial Technologies (India) Ltd. and Jaiprakash Associates Ltd. with a decrease of 6.24% and 5.47% along with TV18 Broadcast and BHEL with a decrease of 5.30% and 5.32% at the close of the markets. The Auto sector is down 46.79 points at 11,145.69 while the banking sector is down 220.74 points at 11,273.91 and the realty sector is down 19.82 points at 1,193.41. The Indian currency is down 0.50% at Rs 62.38 per dollar.

Sep 27, 2013

BSE closes points 36.30 up on September 26

New Delhi, September 26 (ANI): Trading at the Bombay Stock Exchange today closed 36.30 points up to stand at 19892.54. At the National Stock Exchange the Nifty closed 5.75 points up to stand at 5879.60. BHEL and JP POWER were among the top gainers of Group A with an increase of 7.53% and 5.89% along with Financial Technologies and Oberoi Realty with an increase of 4.73% and 4.44% respectively, while the top losers of Group A include HDIL and Indian Oil Corp with a decrease of 4.67% and 4.10% along with OIL INDIA and Reliance Communications Ltd. with a decrease of 3.85% and 3.79% at the close of the markets. The Auto sector is up 4.29 points at 11,186.12 while the banking sector is down 36.74 points at 11,452.68 and the realty sector is down 11.42 points at 1,209.29. The Indian currency is up 0.43% at Rs 62.17 per dollar.

Sep 26, 2013

BSE closes points 77.67 down on September 25

New Delhi, September 25 (ANI): Trading at the Bombay Stock Exchange today closed 77.67 points down to stand at 19842.54. At the National Stock Exchange the Nifty closed 21.95 points down to stand at 5870.50. BHEL and Zee Entertainment were among the top gainers of Group A with an increase of 7.73% and 5.75% along with Apollo Hospitals and Sobha Dev with an increase of 4.82% and 4.56% respectively, while the top losers of Group A include Financial Technologies and MCX with a decrease of 9.92% and 4.60% along with JP POWER and HPCL with a decrease of 4.43% and 3.74% at the close of the markets. The Auto sector is down 9.70 points at 11,180.22 while the banking sector is down 103.74 points at 11,494.18 and the realty sector is down 9.88 points at 1,217.68. The Indian currency is up 0.36% at Rs 62.53 per dollar.

Sep 25, 2013

BSE closes points 27.02 up on September 24

New Delhi, September 24 (ANI): Trading at the Bombay Stock Exchange today closed 27.02 points up to stand at 19927.98. At the National Stock Exchange the Nifty closed 2.70 points up to stand at 5892.45. Ashok Leyland and Eicher Motors were among the top gainers of Group A with an increase of 7.93% and 5.82% along with Sobha Dev and IFCI with an increase of 4.11% and 3.60% respectively, while the top losers of Group A include Bajaj Finance Ltd and Shriram Transport Finance Company Ltd. with a decrease of 5.74% and 5.71% along with Bank of India and Coromandel International Ltd. with a decrease of 4.43% and 4.30% at the close of the markets. The Auto sector is up 124.52 points at 11,197.79 while the banking sector is down 36.32 points at 11,594.25 and the realty sector is down 3.44 points at 1,227.94. The Indian currency is down 0.03% at Rs 62.62 per dollar.

Sep 24, 2013

Big trade deficit with China not sustainable in long run: Commerce ministry

New Delhi, Sept 24 (ANI): Commerce Ministry said that the widening trade deficit with China is a matter of concern and not sustainable in the long run, as representatives from both countries met to explore greater business opportunities between the countries. India-China Business Matchmaking Symposium in New Delhi was organised by the Confederation of Indian Industry (CII) and Trade Development Bureau (TDB) of China, in the backdrop of exponential growth in the trade sector between the two countries in the last few years. The Chinese business delegation headed by Vice Director General of Chinese Trade Development Bureau (TDB) Jia Guoyong consisted of delegates from various sectors of business and trade.

Sep 24, 2013

Big trade deficit with China not sustainable in long run: Commerce ministry

Sep 24, 2013

No plans for selective stimulus package: Finance ministry

New Delhi, Sept 24 (ANI): Senior finance ministry official, Arvind Mayaram said on Monday that India has no plan to offer a special window to lend funds at lower interest rates to companies in some sectors.The finance ministry and the central bank were considering a selective stimulus plan that involved a debt-buying programme for eligible companies. Mayaram said that the banks in India have not yet developed the capability of appraising projects for a long duration. Mayaram also said that the government or the Reserve Bank of India (RBI) does not target any rate.

Sep 23, 2013