ECONOMY & NATION


Moneylife Digital Team 11 January 2013
Earnings growth will be slow, the rupee will be under pressure and political uncertainties will worsen as we approach the general elections According to ICICI Securities, even though the economic climate has improved considerably and the stock market has responded positively,...

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Moneylife Digital Team 11 January 2013
Kotak had put this as one of the top picks of 2013 along with ICICI Bank and Marico, even though the stock was exactly at the same level as it was in December 2011, when the Sensex was 15,455, as compared to 19,664 now We have often mentioned that securities analysts and fund managers...

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MDT/PTI 11 January 2013
The government has decided to re-allocate three coal blocks—Chatti-Bariatu, Kerandari and Chatti-Bariatu (South)—to NTPC but all the necessary clearances are not in place New Delhi: The power ministry is in constant touch with coal ministry to speed up the re-allocation of three mines to...

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MDT/PTI 11 January 2013
The decline in industrial output, as measured by the Index of Industrial Production may prompt the Reserve Bank to consider rate cut in its quarterly review on 29th January to boost growth New Delhi: Dashing hopes of a rebound, the industrial output contracted to a four-month low of...

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MDT/PTI 11 January 2013
Jindal Power had approached the environment ministry seeking clearances for expanding the capacity of Gare Palma coal mine New Delhi: An environment ministry panel has asked Jindal Power to first get approvals from coal and power ministries before seeking environmental clearances for...

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MDT/PTI 11 January 2013
According to the Service Tax Department notice, Kingfisher Airlines cannot fly outside the registered airport premises Mumbai: In more trouble for beleaguered Kingfisher Airlines, Service Tax Department has issued a notice to the carrier, "impounding" all its aircraft, department sources...

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MDT/PTI 11 January 2013
ICICI Bank had given an initial price guidance of 4%, while the final pricing saw tightening of 0.35%. The issue was oversubscribed by over 13 times to SGD 3 billion, the lead banker to the issue StanChart said Mumbai: ICICI Bank has raised SGD 225 million (Singapore dollars) from a...

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MDT/PTI 11 January 2013
Pitching for periodic tariff revisions, the Reserve Bank of India said losses of discoms have also raised “serious concerns” for banks and financial institutions New Delhi: The RBI (Reserve Bank of India) said that the loss-making power distribution companies (discoms) continue to impact...

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MDT/PTI 11 January 2013
“HSBC probably got it wrong... I do not expect a further deceleration of GDP growth,” said Planning Commission deputy chairman Montek Singh Ahluwalia New Delhi: Expecting a better economic growth rate in the second half of current fiscal, Planning Commission deputy chairman Montek Singh...

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Moneylife Digital Team 10 January 2013
Credit Suisse says that the  government needs to  persuade  RBI governor  D Subbarao  to  boost  growth  and  lower  debt servicing costs by  reducing  interest  rates. That’s classic pitch by a brokerage that wants a bull run on the back of cheaper money. Credit Suisse, an international...

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Auto and auto-ancillary companies had shut down for 10 days in Pune last month. The industry association is projecting no growth. And yet neither analysts nor the media are reporting anything negative. Many of the stocks are at their 52-week highs. What is the truth? There has been...

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MDT/PTI 10 January 2013
“We expect to get around Rs800 crore at current prices,” finance minister P Chidambaram told reporters after the meeting of the Cabinet Committee on Economic Affairs (CCEA), which approved the disinvestment in EIL New Delhi: The government has decided to offload its 10% stake in...

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MDT/PTI 10 January 2013
HSBC said the fiscal and current account deficits have turned ‘uglier’. The recent reform push, if sustained, should help lift growth and ‘beautify’ the twin deficits, but it will take some time New Delhi: HSBC has cut India's growth forecast for this fiscal to 5.2% from 5.7%, citing...

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MDT/PTI 10 January 2013
The Cabinet has given in-principle nod for providing need based re-capitalisation of banks till 2018-19 for ensuring compliance with the Basel III capital adequacy norms New Delhi: Seeking to enhance lending by banks and help them meet capital adequacy norms, the government today...

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MDT/PTI 10 January 2013
“Domestic diesel prices are not in tune with the international prices of crude,” chairman of the Prime Minister's Economic Advisory Council C Rangarajan said Kolkata: The government will have to take action to correct the prices of diesel as its consumption is on the rise, reports PTI...

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MDT/PTI 10 January 2013
“There is no doubt that efforts are being made on a large scale to ensure that benefits of banking facilities are made available to the people,” finance minister P Chidambaram said   Chhindwara: finance Minister P Chidambaram said the government is making all-out efforts to ensure that...

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MDT/PTI 10 January 2013
“The government is constantly addressing concerns of investors. There will be amicable resolution of the issue (Vodafone tax case) in the Budget,” a top finance ministry official told PTI New Delhi: The finance ministry is working towards an amicable resolution of the retrospective tax...

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MDT/PTI 10 January 2013
Mallya urged the employees to be careful in their interaction with the media, alleging “negative reporting” by media on the carrier (Kingfisher Airlines) Mumbai: With employees threatening to move court for closure of the company, Kingfisher Airlines chairman Vijay Mallya finally broke...

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MDT/PTI 10 January 2013
The aggregate net profit margin of the corporate sector was impacted by “poor performance of smaller companies,”  an RBI analysis of data said Mumbai: Smaller companies are mainly bearing the brunt of economic slowdown, having recorded overall losses in the first half of the current...

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MDT/PTI 10 January 2013
The banking bill will pave the way for corporate houses to enter the banking sector which is a key reform legislation pending for long New Delhi: The three financial sectors reforms laws, Prevention of Money Laundering (Amendment) Bill and Banking Laws (Amendment) Bill, 2012 have become...

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