COMPANIES & SECTORS


Moneylife Digital Team 17 May 2013
Pandit, who had an unceremonious exit from Citigroup last year, also plans to make investments in JM Financial’s NBFC. He will also set up a $100-million distressed asset fund along with JM Financial Beginning a new innings, former Citigroup chief Vikram Pandit will spearhead Nimesh...

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Moneylife Digital Team 16 May 2013
Alkyl Amines Chemicals saw higher cost of raw materials and finance costs put a dent on its bottomline despite rise in net sales   Alkyl Amines Chemicals has posted 20% year-on-year (y-o-y) increase in net sales which jumped from Rs80.33 crore recorded in the March 2012 quarter to...

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Moneylife Digital Team 16 May 2013
J&K Bank has put in one consistent quarter after another, and the March 2013 quarter is no less an exception. It has reported 24% increase in net revenues and has announced 500% dividend on the occasion of its platinum jubilee year   The Bombay Stock Exchange (BSE) and NSE-listed...

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A Banker 15 May 2013
The market is merciless in evaluating bank performance and corporate governance standards. If the government does not wake up to streamline entire system of appointment of Directors, all of us may have to repent in leisure   The discovery that Sunil Gupta, a director on the board of...

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Moneylife Digital Team 15 May 2013
Kejriwal alleged that Sibal has a 'conflict of interest' in the case involving Vodafone as his lawyer son Amit 'continues to defend' Hutchinson Arvind Kejriwal led Aam Aadmi Party (AAP) on Wednesday alleged that soon after taking charge as law minister, Kapil Sibal has overturned his...

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Moneylife Digital Team 15 May 2013
Health officials have revoked Johnson & Johnson’s (J&J) licence to make cosmetics at a plant in Mulund (outside Mumbai) after they discovered that the company had used an unauthorised process for sterilising its baby powder, according to a newpaper report. No consumer complaints or adverse...

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Moneylife Digital Team 15 May 2013
During 2007-2008, Delhi-based Ashutosh Sinha was badgered with innumerable telemarketing calls by direct selling agents (DSAs) of the Hong Kong and Shanghai Banking Corporation (HSBC). Incidentally, HSBC had rejected Mr Sinha’s application for a credit card and then wanted to sell him ‘other...

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Moneylife Digital Team 15 May 2013
A consumer court in Ahmedabad imposed a fine of Rs20,000 on Pepsico Holding India Pvt Ltd after its soft drink was found contaminated. The complaint against the company was filed by Gautam Trivedi who purchased a bottle of soft drink for Rs15 from Mahalaxmi Nashta House in Naroda. He also got...

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Moneylife Digital Team 15 May 2013
NTPC has withheld payment of Rs25.3 billion on account of the impasse on the quality of coal received (as admitted by NTPC) versus coal supplied (as billed by Coal India), points out Nomura Equity Research in its Quick Note State-owned power utility major NTPC has proposed a final...

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Moneylife Digital Team 15 May 2013
Given that the tariff applies from November 2008, GAIL will have to return excess tariff/ship-or-pay charges to customers, says Nomura Equity Research in its First Look note   The Petroleum and Natural Gas Regulatory Board (PNGRB) has made it clear that the approved tariff for the KG...

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Moneylife Digital Team 14 May 2013
  The B-787s have remained grounded since 17th January after a fire in the lithium-ion batteries of a parked plane in Boston and a case of forced landing of another B-787 for the same reason in Japan   Government-owned national carrier Air India is expected to resume domestic...

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Moneylife Digital Team 14 May 2013
While the long-term picture for Nestle India is still intact, near-term growth concerns will weigh the company’s stock down, says Nomura Equity Research   Nestlé India's revenues and adjusted net profit growth of less than 10% during the March quarter continue to be underwhelming...

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Moneylife Digital Team 14 May 2013
During the quarter there was a tax write-back of Rs4.8 billion which boosted the net profit for Bank of Baroda, points out Nomura Equity Research in its Quick Note   Bank of Baroda’s management expects domestic loan delinquency for the next couple of quarters to be at the level seen...

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Moneylife Digital Team 14 May 2013
Despite difficulties in the automotive sector, the company has managed to scale new milestones as its market capitalisation crossed Rs5,000 crore   Amara Raja Batteries recorded net sales of Rs 801 crore for the quarter ended 31 March 2013 when compared to the Rs672 crore for the...

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Moneylife Digital Team 14 May 2013
The company has pieced in decent quarterly numbers despite a slowdown in the commercial vehicles segment. The stock is currently trading at its 52-week high   Eicher Motors, manufacturer of the flagship Royal Enfield brand of motorcycles, has posted a net profit of Rs97.20 crore for...

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Moneylife Digital Team 14 May 2013
Ranbaxy USA pleaded guilty to “felony charges” relating to manufacture and distribution of certain adulterated drugs. The generic drugs at issue were manufactured at Ranbaxy’s facilities in Paonta Sahib and Dewas in India   Pleading guilty to “felony charges” relating to manufacture...

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Moneylife Digital Team 13 May 2013
High Mark Credit Information Services' promoter Prof Dr Pandya is negotiating with another credit bureau for an asset sale including about 250 million records collected from members. This is a gross violation of CIRC Act, alleges a former employee in a complaint to the...

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Moneylife Digital Team 13 May 2013
Self-acquired regulatory power for registering, accrediting and regulating the engagement of air cargo agents in India is alleged to have enabled IATA to indulge in anti-competitive activities, the CCI said   Competition Commission of India (CCI) is probing allegations of...

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The court will only interfere when any policy is “unconstitutional, contrary to statutory provisions or arbitrary or irrational or there is total abuse of power,” the Supreme Court said   In a landmark judgement, a three-judge Supreme Court bench of justices RM Lodha, Mohan B Lokur...

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Moneylife Digital Team 13 May 2013
During the quarter, there was an exceptional gain for Ashok Leyland of Rs1.34 billion mainly on sales of IndusInd shares. The company reported an EBITDA margin of 5.3% for the March quarter below Nomura's expectation of 10.9%   Ashok Leyland declared adjusted net profit of Rs157 million for...

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