ECONOMY & NATION


Moneylife Digital Team 10 February 2014
During the December quarter, Tata Motors net profit grew to Rs4,805 crore, contributed by 61% growth in Jaguar Land  Rover volumes Tata Motors Ltd, India’s largest vehicle manufacturer reported a 195% jump in its third quarter net profit, mainly on robust volumes in its Jaguar Land Rover...

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Ensuing interim railway budget may be populist, as elections are around the corner. However, there is dire need for the Railways to raise its own resources. Will Mallikarjun Kharge deliver what is most needed for the railways? India has the fourth largest rail network in the world, but...

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Moneylife Digital Team 10 February 2014
During the December quarter, VA Tech Wabag’s net profit surged to Rs21.71 due on robust revenues from overseas markets VA Tech Wabag Ltd, India’s largest water treatment company, said its third quarter net profit surged more than two fold on robust revenues from overseas markets.

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Moneylife Digital Team 10 February 2014
Flexing his muscle on the toll issue, the MNS chief also challenged Maharashtra government to arrest him Escalating his confrontation with Maharashtra government on the toll issue, Raj Thackeray, the chief of Maharashtra Navnirman Sena (MNS) has announced a state wide "rasta roko"...

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Abhirup Ghosh 10 February 2014
Qualified entities will be able to raise money through debt securities for four times via a single shelf prospectus within a year. Only question is, does the capital market have sufficient appetite to invite new players for raising funds? The Securities & Exchange Board of India (SEBI)...

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The dramatic reversal of the Japanese market’s fortunes in past month might be a preview of things to come and an abject lesson in the dangers of monetary experiments Since the end of December, the Japanese market has been falling like a rock. Since it reached its high late last year, it...

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Moneylife Digital Team 10 February 2014
According to Nomura, excluding agriculture, India’s GDP growth is expected to moderate to 4.9% in FY14 from 5.0% in FY13 due to continued slack in mining output, contraction in manufacturing output growth and subdued activity in the construction and trade, hotel, transport and communication...

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Moneylife Digital Team 07 February 2014
During the 33rd round, the bids for 2G spectrum in the 1800 MHz and 900 MHz band crossed Rs52,700 crore The ongoing 2G spectrum auction has entered its 33rd round of bidding after starting off from the Rs52,689 crore mark on Friday morning.   According to an official statement,...

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Moneylife Digital Team 07 February 2014
With the Fed going for another round of taper at $10 billion, it is now evident that emerging economies (including India) are in close sync to ward off any destabilising impact on their domestic currencies, says SBI Research in its research note The RBI (Reserve Bank of India) hiked the...

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Moneylife Digital Team 07 February 2014
During the December quarter, Sun TV Network’s net profit fell marginally on higher costs while its total revenues increased 5% on better income from D2H business Sun TV Network Ltd, a media and broadcasting company, reported a 2% decline in its third quarter net profit mainly due to 13%...

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Moneylife Digital Team 07 February 2014
Despite Diageo offering to divest bulk of Whyte & Mackay business to address anti-competition concerns posed by its deal with United Spirits, the UK OFT expressed concern about the impact of the deal The Office of Fair Trading (OFT) in the UK has released a 53-page report detailing...

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Moneylife Digital Team 07 February 2014
Foseco India declared a final dividend of Rs15.50, taking its full year dividend to Rs24.50 per share even as its December quarter net profit fell 47%   Foseco India, a supplier of metallurgical chemicals for the ferrous and non-ferrous industry, reported 47% fall in its fourth quarter...

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India needs to allow Iran to open accounts in banks other than UCO Bank and from all the major port cities, which would result in increased trade between the two countries It may be recalled that Iran signed on 24 November 2013 an accord with US and European Union (world powers, really),...

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Moneylife Digital Team 06 February 2014
During the December quarter, Elgi Equipments posted a net profit of Rs16.85 crore driven by healthy sales in international markets Elgi Equipments Ltd, an air compressor manufacturer, reported a 22% growth in its third quarter net profit, mainly driven by healthy growth in overseas...

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Moneylife Digital Team 06 February 2014
During the December quarter, the tyre manufacturer’s net profit remained flat as it paid 17% higher interest and 5% more taxes MRF Ltd, the Chennai-based tyre manufacturer, reported almost flat first quarter net profit on higher interest expenditure and taxes.   For the quarter to...

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Moneylife Digital Team 06 February 2014
After facing probe by the EOW of Mumbai police, QNet, its founder and associates will now face the ED sleuths in the Rs425 crore MLM scam Enforcement Directorate (ED), the agency responsible for enforcing economic laws and fighting economic crime in India, has registered a case in the...

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Moneylife Digital Team 06 February 2014
Two BSES units approached the Supreme Court against a notice issued by NTPC for cutting power supply of Delhi, if its dues are not cleared by the Anil Ambani-led power distribution companies BSES Rajdhani Pvt Ltd and BSES Yamuna Pvt Ltd, the two power distribution companies from Delhi...

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Moneylife Digital Team 06 February 2014
MCX has been given time till 10th February to submit a time-bound action plan to ensure its promoter Financial Technologies cuts stake in the Exchange to 2% Crisis-hit Multi-Commodity Exchange of India Ltd (MCX) has said its board of directors is scheduled to meet on 7th February to take...

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Moneylife Digital Team 05 February 2014
For the December quarter, Cummins India posted a 37% fall in its net profit due 6% decline in sales volumes Cummins India Ltd, manufacturer of diesel and natural gas engines, reported a 37% fall in its third quarter net profit on subdued demand in Indian capital goods markets. For...

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Moneylife Digital Team 05 February 2014
During the December quarter, the Daiichi Sankyo unit said it loss narrowed to Rs395.96 crore from Rs616.01 crore a year ago Ranbaxy Laboratories (Ranbaxy), a unit of Japanese Daiichi Sankyo Co Ltd pharmaceutical company said its fourth quarter net loss narrowed despite lower sales and...

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