Archive for the Business Category

Sensex opens over 200 points; Maruti slips 1.5%

NEW DELHI: The Sensex opened over 200 points higher on Friday, mirroring its Asian peers after US stocks fell overnight ahead of a key job report.
At 9:19 a.m., the 30-share BSE index was up 0.5 per cent at 16,763.77 points, with 17 of its components rise.
The broader 50-share NSE index was trading 0.4 per cent [...]

Peugeot-Citroen to Invest €650 Million in Indian Assembly Plant

PARIS French auto maker PSA Peugeot-Citroen said Thursday it plans to invest about €650 million to build a manufacturing facility at Sanand, the rapidly developing automotive cluster in the Indian state of Gujarat.
The move fits in with Peugeot-Citroens goal of reducing its dependence on the mature markets of Europe. The company has said it [...]

LG re-enters laptop market

After getting its strategy wrong twice in the personal computer market, LG Electronics India is making a third go at it with the launch of 13 notebooks at prices ranging between Rs26,000 and Rs66,780.
And the consumer electronics major believes it will be able to sustain its PC business this time round as it has a [...]

Private insurers see business growing from this month

Private life insurers, which have been seeing a decline in new business since last August when the new unit-linked insurance plan (Ulip) guidelines came into force, are hopeful of posting good numbers from this month.
“September onwards we are expecting a positive trend because the industry has been facing a sluggish growth since August last year [...]

Twice deferred, ONGC FPO to hit market on Sept 6

It’s finally on. ONGC’s follow-on public offer which has been deferred twice this fiscal year will kick off on September 6 with the first roadshow at New York and the issue scheduled for opening on September 20.
At the likely price of Rs 285 a share, the 5 per cent or 427.77 million shares would fetch [...]

Fiscal deficit shoots past half-way mark

Even as the lower than expected GDP data cast a gloom, data on the Centre’s financial position brought in more worry for policymakers. The Centre’s fiscal deficit crossed the half-way mark and shot up to 55.4 per cent of the full year target to touch Rs 2,28,753 crore in the first four month of 2011-12. [...]

NBFCs rally on release of draft guidelines for new licences

Shares of non-banking financial companies on Monday surged by up to 14.42 per cent on BSE after the Reserve Bank unveiled draft guidelines on new banking licences.
Bajaj Finserv settled 14.42 per cent higher at Rs 571.85 on the Bombay Stock Exchange (BSE). LIC Housing Finance gained 3 per cent to end at Rs 205.80 apiece. [...]

Sensex opens over 200 points higher; GDP data eyed

NEW DELHI: The BSE Sensex opened up 223 points on Tuesday mirroring gains in Asian markets after better-than-expected US consumer spending data helped bolster investor sentiment.
Investors will closely watch GDP data which is due later today. According to a recent Reuters poll, Indias economy probably grew an annual 7.6 per cent in the quarter through [...]

ONGC likely to start production from KG basin field next month

NEW DELHI: State-owned Oil and Natural Gas Corp (ONGC) is likely to start oil and gas production from Krishna-Godavari basin field GS-15, off the Andhra coast, next month.
While production from some oil wells in the GS-15 field is set to commence from September, ONGC has also drawn up plans to initiate production from its G-1 [...]

Anna among top 10 brands online

MUMBAI: Brand Anna and the Jan Lokpal movement have featured at the tenth spot on the India Influencer list released by digital brand management firm Pinstorm. While the 74-year-old Gandhian ended his 12-day fast on Sunday, millions watched, either present at the Ramlila Ground or on their television sets, as the movement became one of [...]

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