Business news

Generic Drugmaker Mylan Inc to Acquire Abbott Labs for $5.3 billion through Tax Inversion

Pharmaceutical company Mylan Inc announced the acquisition of Abbott Laboratories for $5.3 billion on Monday, in markets outside the United States, with an aim to cut their tax bill using tax inversion method.

Jul 15, 2014

Air India Flight Returns to NJ after Engine Catches Fire; A Look at the Airline's Recent Emergency Landings

Air India, a member of Star Alliance group, tends to make emergency landings, mostly due to technical problems.

Jul 15, 2014

BSE closes points 221.67 up on July 15

New Delhi, July 15 (ANI): Trading at the Bombay Stock Exchange today closed 221.67 points up to stand at 25,228.65. At the National Stock Exchange the Nifty closed 72.50 points up to stand at 7,526.65. Financial Tech and MCX were among the top gainers of Group A with an increase of 10.00% and 9.25% along with Future Retail and Reliance Infrastructure Ltd. with an increase of 9.25% and 7.40% respectively, while the top losers of Group A include Piramal Enterprises Ltd. and CRISIL with a decrease of 9.83% and 4.00% along with Sobha Developers Ltd. and Dr Reddys Lab with a decrease of 2.74% and 2.34% at the close of the markets. The Auto sector is up 214.22 points at 15,518.66 while the banking sector is up 458.18 points at 17,053.82 and the realty sector is up 40.74 points at 1,931.90. The Indian currency is 0.15% down at Rs 60.16 per dollar.

Jul 15, 2014

A broker monitors share prices while trading at a brokerage firm in Mumbai

Rupee Dips, Sensex and Nifty Gain as June's Inflation Eases

On Tuesday, the broader Nifty and Sensex opened on bullish note by 37.15 points and 93.92 points after falling for previous four sessions due to sale of shares by foreign investors last week. According to Reuters report, the surge was attributed by June's consumer inflation rate report; that slowed to a low of 7.31 percent ahead of the RBI's policy review on 5 August.

Jul 15, 2014

Sensex Closes Lower on FII's Selling Pressure; WPI Inflation Rates Ease to 4 Month Low

BSE Sensex closed lower on Monday, after falling for previous four sessions as overseas investors turned sellers.

Jul 14, 2014

Employee productivity seminar by Chestnut Global partners

US-Based Chestnut Global Partners Acquires Bangalore's Leader Prospects

Bloomington-based Chestnut Global Partners (CGP), a provider of Employee Assistance Programs, announced a tie-up with Bangalore's Leader Prospects last week.

Jul 14, 2014

asia-pensive-before-u-s-jobs-test-euro-nurses-losses

Indian Stocks Trade Lower Following Friday Sale of Shares worth ₹7.23 Billion

Indian stock indices edged lower during trading on Monday after opening on a higher note.

Jul 14, 2014

Budget will revive growth, says finance secretary

New Delhi, July 12 (ANI): Finance Secretary Arvind Mayaram while speaking at an interactive session in New Delhi on Saturday said the budget for the fiscal year 2014-2015 is growth oriented and will revive the economy. Mayaram defended Finance Minister Arun Jaitley_s maiden budget that was presented in the parliament on Thursday holding that the government will maintain the fiscal deficit at the projected 4.1 percent of GDP (Gross Domestic Product). The President of Federation of Indian Chambers Of Commerce and Industry (FICCI), Sidharth Birla, along with its members was also present at the event.

Jul 12, 2014

Vijay Mallya, Chairman of Kingfisher Airlines

High Court Rejects Vijay Mallya's Plea Again

Kingfisher Airlines plea against United Bank of India, which declared the company as "willful defaulters," got rejected by Kolkata High Court.

Jul 12, 2014

Industrial Output Grows 19-Month High of 4.7 % in May 2014

Industrial production grew 4.7 percent in May 2014, according to the data released by Central Statistics Office on Friday.

Jul 12, 2014

Varanasi's Textile Industry Hails Union Budget

Allocation of funds to the handloom industry of Varanasi has filled the weavers with joy, and they are now praising Prime Minister Narendra Modi's government.

Jul 11, 2014

Sensex Records Biggest Weekly Loss Since Decemeber 2011, Nifty Since March 2013

Majority of Indian stock indices fell during closing hours on Friday due to disappointment over the lack of details in the federal budget.

Jul 11, 2014

Infosys quarterly-1 profit up 21.6 percent, retains annual forecast

Bangalore, July 11 (ANI): India's second largest IT services provider Infosys posted on Friday a higher-than-expected quarterly net profit growth of 21.6 percent, retaining its revenue guidance of seven to nine percent for the fiscal year 2015. Shibulal, the last of Infosys' seven founders to hold the role of CEO and who is leaving at the end of this month, said the company had already taken several measures to retain staff, including quarterly promotions.

Jul 11, 2014

Indian markets flat-line as investors analyse budget

Mumbai, July 11 (ANI): Indian markets flat-lined on Friday as investors analysed the budget announced by Narendra Modi's new government. Stock market expert, Sunil Shah, said currently that there is no activity in the market due to repercussions of the budget.

Jul 11, 2014

BSE closes points 348.40 down on July 11

New Delhi, July 11 (ANI): Trading at the Bombay Stock Exchange today closed 348.40 points down to stand at 25,024.35. At the National Stock Exchange the Nifty closed 108.15 points down to stand at 7,459.60. Aurobindo Pharma and Zee Entertainment were among the top gainers of Group A with an increase of 3.90% and 3.61% along with Max India and Ranbaxy Lab with an increase of 2.58% and 2.29% respectively, while the top losers of Group A include Jain Irrigation and Unitech with a decrease of 11.51% and 10.68% along with Power Finance and REC with a decrease of 10.47% and 10.22% at the close of the markets. The Auto sector is down 158.22 points at 15,154.50 while the banking sector is down 455.55 points at 16,546.21 and the realty sector is down 103.69 points at 1,906.03. The Indian currency is 0.12% up at Rs 60.12 per dollar.

Jul 11, 2014