ECONOMY & NATION


Moneylife Digital Team 25 March 2014
Tata Power is raising about Rs2,000 crore through a rights issue for paying its debts and capital expenditure. The issue is priced at Rs60 per share, including a premium of Rs59 a piece Tata Power Co Ltd said it would raise about Rs2,000 crore through a rights issue for paying its debts...

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India, the world’s second largest food producer, is witnessing growing distress and declining confidence in agriculture as most small and landless farmers, with less of a stake, are found to quit farming The recent unseasonal heavy rains, thunder and hailstorms originating from unusually...

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The income tax department is on an overdrive and its notices of potential tax evasion are harassing retired people, senior citizens, homemakers and widows. Worse, the I-T department has even sent notices in time-barred cases that are over a decade old and to people without a taxable income

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Moneylife Digital Team 24 March 2014
India's largest banking union, AIBEA, has lodged an official protest with the EC about the RBI’s hurry to grant new banking licenses when the country is moving towards general elections to elect a new Parliament. The union says, you cannot overlook political views while granting new licenses

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Moneylife Digital Team 24 March 2014
According to Nomura, while Infosys and TCS would show soft growth, other companies like HCL Technologies, Wipro and Tech Mahindra would show stronger growth during the March quarter Tata Consultancy Services (TCS) and Infosys, the country’s too two IT companies, are likely to report soft...

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Moneylife Digital Team 24 March 2014
General elections outcome in May is critical to improvement in growth mix, which includes, increasing capex and lowering fiscal deficit, says Morgan Stanley in a research note The outcome of general elections in May 2014 will be critical to determining the pace of recovery in India, says...

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Indo-Sri Lankan bilateral trade has the definite potential to reach $10 billion in the next few years, if efforts are made by both sides, considering the existence of free trade agreement signed way back in 2000 Sri Lanka, our southern neighbour, occupies a close, strategic and religious...

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The problem with the Russian economy is that it is designed to favour its crony capitalists. Similarly, the assets of the Chinese elite are derived from government connections The West is attempting to force Russia into giving up the Crimea and invading eastern Ukrainian. Their weapons...

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Moneylife Digital Team 21 March 2014
Tulip Telecom’s chairman and managing director HS Bedi was arrested for allegedly evading service tax of Rs32.16 crore HS Bedi, chairman and managing director (CMD) of Tulip Telecom Ltd is arrested for allegedly evading service tax of Rs32.16 crore. A case has been registered against...

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Moneylife Digital Team 20 March 2014
Even if the BJP-led government comes to power, it may not mean the start of an investment cycle, cautions Credit Suisse because only a fourth of projects are stuck with the central government; the rest are constrained by overcapacity, balance sheets, or state governments At the cusp of...

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The crisis in Ukraine may give India an opportunity to export more wheat, provided we ship out more, as our central pool stood at 24.2 million tonnes, twice more than the buffer and strategic needs Despite the US and European threats and entreaties, Russia went ahead supporting the...

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Abhirup Ghosh 20 March 2014
RBI’s initiatives to curb NPAs are good and would help minimise the stress. However, given the past record on a number of failed reforms, one question arises – can the regulator alone be able to tackle rising NPAs deftly? Good health of banks is critical to the health of the economy and...

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Moneylife Digital Team 19 March 2014
Unless there is much volatility in the rupee, margins can be maintained within its guided range of 26%-28% for Tata Consultancy Services, according to Nomura in its research note Tata Consultancy Services (TCS) was the biggest loser today, falling 3.84% to close at Rs2,040.95. TCS said...

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Moneylife Digital Team 19 March 2014
With more steel capacity coming on stream, the iron ore shortage will only increase. CARE Ratings suggest a control on iron ore exports With the curb on illegal mining in two major iron ore producing states (Karnataka and Goa accounting for more than 35% share of the domestic...

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Moneylife Digital Team 19 March 2014
If you look beyond CY14F, Mahindra and Mahindra looks attractive, forecasts Nomura Mahindra and Mahindra expects 8%-10% volume growth for both UVs (utility vehicles) and tractors in FY15. For autos, while the new launch cycle will begin in 2015, some major refreshes are planned in 2014....

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RBI stays mute but must be held responsible An interesting aside to the controversy at United Bank of India is that no political party or opposition leader has questioned RBI or the finance ministry on the rapid decline of this bank, for a second time. A hallmark of the United...

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Can Coal India be restructured into smaller independent units, in order to ensure serious competition and to ensure production and development of coal resources in the country? According to statistical data available, Coal India is heading towards a fall in production during this fiscal,...

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Moneylife Digital Team 18 March 2014
While loan impairments in the system were going up, the private banks had enough profitability and capital as a buffer. Also, price-earnings multiples were inexpensive, says Morgan Stanley Big private lenders – HDFC Bank, HDFC, ICICI Bank and Axis Bank – have been attractive investments...

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Moneylife Digital Team 18 March 2014
Dhoni had filed a defamation suit claiming Rs100 crore damages from the Zee Media for allegedly telecasting 'malicious' news that he was involved in betting, spot and match fixing of IPL matches The Madras High Court on Tuesday restrained TV channels like Zee News and News Nation from...

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Moneylife Digital Team 18 March 2014
Nandan Nilekani, while heading Infosys, never had second thoughts on recruiting people other than those who secured the highest grade. However, he is now all for reservations and wooing 'poor' voters Many people are surprised at the rapid conversion of Nandan Nilekani, the former head...

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