Business news

indian-banks-to-wait-before-hiking-loan-rates-post-rbis-tightening

Indian banks to wait before hiking loan rates post RBIs tightening

Mumbai, Jan 29 (ANI): Top Indian bankers said that they would wait to observe inflation and market trends further, before increasing the interest rates of loans to citizens for balancing funds due to the sudden hike in repo rate by the RBI. Reserve Bank of India (RBI), surprisingly raised interest rates for lending money to commercial banks on Tuesday to dampen inflation, saying it was now better prepared to deal with the risk of major capital outflows roiling emerging economies. The RBI, however, said that if retail inflation eases as projected, it does not foresee further near-term monetary policy tightening. The hike in repo rate could have a direct impact on the lending rates of funds borrowed by the citizens from the commercial banks. Meanwhile, chief of Indian Banks’ Association, K.R. Kamath, said that banks would have to take a final call on the interest rates only after considering the burden on customers due to inflation. Jan 29, 2014
bse-closes-points-23-94-down-on-jan-28

BSE closes points 23.94 down on Jan 28

New Delhi, Jan 28 (ANI): Trading at the Bombay Stock Exchange today closed 23.94 points down to stand at 20683.51. At the National Stock Exchange the Nifty closed 9.60 points down to stand at6126.25. HDIL and Apollo Tyres were among the top gainers of Group A with an increase of 6.09% and 6.07% along with Future Retail and IPCA Lab with an increase of 4.26% and 3.89% respectively, while the top losers of Group A include Maruti Suzuki and IRB Infra with a decrease of 8.12% and 5.19% along with Suzlon Energy and Pipavav Defence with a decrease of 4.59% and 4.43% at the close of the markets. The Auto sector is up 18.64 points at 11,574.00 while the banking sector is down 36.58 points at 12,020.48 and the realty sector is up 13.17 points at 1,231.23. The Indian currency is up 0.67% at Rs 62.68 per dollar. Jan 28, 2014
rbi-hikes-repo-rate-by-25-bps

RBI hikes repo rate by 25 bps

New Delhi, Jan 28 (ANI): The Reserve Bank of India on Tuesday unexpectedly raised policy interest rate by 25 basis points. RBI Governor Raghuram Rajan however said that if consumer price inflation eases as projected it does not foresee further near-term tightening. Jan 28, 2014
bse-closes-points-389-88-down-on-jan-27

BSE closes points 389.88 down on Jan 27

New Delhi, Jan 27 (ANI): Trading at the Bombay Stock Exchange today closed 389.88 points down to stand at 20743.68. At the National Stock Exchange the Nifty closed 130.90 points down to stand at 6135.85. Glenmark Pharma and The Ramco Cements were among the top gainers of Group A with an increase of 5.49% and 3.54% along with Thermax and Hindustan Unilever with an increase of 2.60% and 2.46% respectively, while the top losers of Group A include Jaiprakash Associates and JP POWER with a decrease of 13.80% and 13.06% along with HDIL and GMR Infra with a decrease of 12.28% and 11.30% at the close of the markets. The Auto sector is down 397.76 points at 11,555.36 while the banking sector is down 499.10 points at 12,057.06 and the realty sector is down 89.11 points at 1,218.06. The Indian currency is down 0.72% at Rs 63.11 per dollar. Jan 27, 2014
bse-closes-points-240-10-down-on-jan-24

BSE closes points 240.10 down on Jan 24

New Delhi, Jan 24 (ANI): Trading at the Bombay Stock Exchange today closed 240.10 points down to stand at 21133.56. At the National Stock Exchange the Nifty closed 78.90 points up to stand at 6,266.75. Bharti Infratel and Mahindra and Mahindra Financial were among the top gainers of Group A with an increase of 2.50% and 2.40% along with Dabur India and Asian Paints Ltd. with an increase of 1.17% and 1.11% respectively, while the top losers of Group A include Ranbaxy Lab and Canara Bank with a decrease of 19.33% and 6.67% along with Biocon and Oriental Bank with a decrease of 5.61% and 5.48% at the close of the markets. The Auto sector is down 191.16 points at 11,953.12while the banking sector is down 240.70 points at 12,556.16 and the realty sector is down 43.02 points at 1,307.17. The Indian currency is up 0.28% at Rs 62.38per dollar. Jan 24, 2014
indian-traders-criticize-pakistan-for-halting-cross-border-trade

Indian traders criticize Pakistan for halting cross-border trade

Poonch, Jan 23 (ANI): Indian traders criticised Pakistan authorities for halting cross-LoC (Line of Control) trade after the arrest of a Pakistani truck driver, who was arrested by the Indian security forces in connection with the smuggling of brown sugar last week. Jan 23, 2014
bse-closes-points-68-23-up-on-jan-22

BSE closes points 68.23 up on Jan 22

New Delhi, Jan 22 (ANI): Trading at the Bombay Stock Exchange today closed 68.23 points up to stand at 21319.35. At the National Stock Exchange the Nifty closed 19.80 points up to stand at 6,333.60.Jaypee Infratech Ltd and Torrent Power were among the top gainers of Group A with an increase of 5.18% and 3.58% along with Century Textiles and Bajaj Finserv Ltd. with an increase of 3.51% and 2.99% respectively, while the top losers of Group A include Mphasis and Mahindra and Mahindra Financial Services Ltd. with a decrease of 5.28% and 5.26% along with Dabur India and Berger Paints with a decrease of 4.06% and 3.04% at the close of the markets. The Auto sector is up 16.65 points at 12,256.39 while the banking sector is up 4.17 points at 12,773.68 and the realty sector is up 4.75 points at 1,348.40. The Indian currency is up 0.10% at Rs 61.82 per dollar. Jan 22, 2014
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