Business News

Discount on benchmark index futures widens

Reuters - 09:20 PM

MUMBAI (Reuters) - The discount on benchmark stock index futures widened on Friday on cash-based buying and unwinding of long positions in the derivatives segment, analysts said on Friday.

  • 09:15 PM

    KOLKATA (Reuters) - McNally Bharat Engineering Co Ltd said on Friday its board approved acquiring 68.3 percent in the Gujarat-based Sayaji Iron & Engineering Co.

  • Oil rallies to new high near $128 Reuters - 09:11 PM

    By Margaret Orgill
    LONDON (Reuters) - Oil shot to a record high near $128 on Friday after Goldman Sachs, the most active investment bank in energy markets, raised sharply its forecast for prices.

  • SAIL Q4 net up 25 pct, but below f'cast Reuters - 07:24 PM

    NEW DELHI (Reuters) - State-run Steel Authority of India Ltd said on Friday its March quarter net profit grew by 25 percent on higher sales, although it lagged forecasts due to rising employee costs.

  • Exporters lift rupee from 13-month low Reuters - 06:24 PM

    By Anurag Joshi
    MUMBAI (Reuters) - The Indian rupee hit a 13-month low near 43 per dollar on Friday after data showed inflation at a 3-½ year high, but recovered smartly to end stronger as exporters decided it was good time to cash in dollar holdings.

  • A broker looks at an electronic board at the Shanghai Stock Exchange in this March 10, 2008 file photo. World stocks powered to a fresh four-month peak on Friday, driven by technology and oil shares, while diverging growth outlooks between the United States and elsewhere weighed on the dollar. REUTERS/Aly Song/Files
    GLOBAL MARKETS - World stocks power to 4-month peak Reuters - 05:20 PM

    By Natsuko Waki
    LONDON (Reuters) - World stocks powered to a fresh four-month peak on Friday, driven by technology and oil shares, while diverging growth outlooks between the United States and elsewhere weighed on the dollar.

  • Kotak plans ETF linked to NSE index Reuters - 05:17 PM

    MUMBAI (Reuters) - Indian mutual fund firm Kotak Mahindra Asset Management on Friday filed initial papers with the market regulator to launch an exchange traded fund (ETF) tracking the 50-share S&P CNX Nifty index.

  • The Bombay Stock Exchange building is seen in Mumbai in this May 22, 2006 file photo. Indian shares rose 0.47 percent on Friday to their highest close in nearly two weeks, led by banks and second-ranked mobile firm Reliance Communications and showing little discomfort at inflation nearing 8 percent. REUTERS/Punit Paranjpe/Files
    Indian shares rise 0.5 pct; banks, Rel Comm lead Reuters - 05:07 PM

    By Hiral Vora
    MUMBAI (Reuters) - Indian shares rose 0.47 percent on Friday to their highest close in nearly two weeks, led by banks and second-ranked mobile firm Reliance Communications and showing little discomfort at inflation nearing 8 percent.

  • Rupee to weaken more in coming months - MS Reuters - 04:33 PM

    MUMBAI (Reuters) - The Indian rupee may fall by 5-7 percent against the U.S. dollar by end-2008 dragged by a slew of factors such as a widening trade deficit, and soaring oil and commodity prices, Morgan Stanley said in a note on Friday.

  • Zylog close to buying firms in Dubai, Singapore Reuters - 04:28 PM

    By C.J. Kuncheria
    NEW DELHI (Reuters) - Software services firm Zylog Systems will buy a Dubai-based peer in one week's time, and is close to acquiring a Singapore-based firm as it seeks to reduce dependence on North American revenue, top officials said.

  • Commerce and Industry Minister Kamal Nath attends a news conference in New Delhi in this December 4, 2006 file photo. India's fiscal and monetary measures to contain inflation will show results in the next two to three weeks, Nath said on Friday. REUTERS/Vijay Mathur/Files
    Kamal Nath: steps on inflation to show results Reuters - 04:12 PM

    MUMBAI (Reuters) - India's fiscal and monetary measures to contain inflation will show results in the next two to three weeks, Commerce and Industry Minister Kamal Nath said on Friday.

  • Commerce and Industry Minister Kamal Nath speaks in New York in this May 8, 2008 file photo. Global trade talks will not have much chance of success if they fail to deliver on a development promise and get converted into a market access round for rich nations, Nath said on Friday. REUTERS/Chip East/Files
    WTO talks must deliver on development pledge - India Reuters - 04:06 PM

    By Surojit Gupta
    NEW DELHI (Reuters) - India warned on Friday global trade talks will not have much chance of success if they fail to deliver on a development promise and end up converted into a market-access round for rich nations.

  • A money changer counts U.S. dollars in Mumbai in this May 21, 2003 file photo. REUTERS/Arko Datta/Files
    Rupee falls to near 43/dlr after inflation Reuters - 03:46 PM

    By Anurag Joshi
    MUMBAI (Reuters) - The Indian rupee fell to a 13-month low on Friday after data showing inflation at a new 3-½ year high heightened worries about slowing growth, record oil prices and the risk of foreign investors withdrawing funds.

  • The Bombay Stock Exchange building is seen in Mumbai in this May 22, 2006 file photo. Indian shares provisionally ended up 0.34 percent on Friday, led by gains in ICICI Bank Ltd and Reliance Industries Ltd. REUTERS/Punit Paranjpe/Files
    Indian shares provisionally close up 0.34 pct Reuters - 03:40 PM

    MUMBAI (Reuters) - Indian shares provisionally ended up 0.34 percent on Friday, led by gains in ICICI Bank Ltd and Reliance Industries Ltd.

  • A man holds a handful of rice in a rice factory in Jiaosi, Taiwan in this April 7, 2008 file photo. India's winter harvest of rice could shrink 5 percent this year if some farmers switch to oilseeds on worries that export curbs could lead to lower prices, a leading trader said on Friday. REUTERS/Nicky Loh/Files
    India's rice export curbs may hit winter harvest Reuters - 03:37 PM

    By Mayank Bhardwaj
    NEW DELHI (Reuters) - India's winter harvest of rice could shrink 5 percent this year if some farmers switch to oilseeds on worries that export curbs could lead to lower prices, a leading trader said on Friday.

  • A worker displays gold jewellery at a shop in Mumbai in this June 15, 2006 file photo. Sluggish gold sales during the Akshaya Tritiya festival, normally seen as an auspicious time to buy the metal, provide the latest evidence of high prices hurting demand from the world's top consumer. REUTERS/Punit Paranjpe/Files
    India gold sales weak over festival as prices bite Reuters - 02:53 PM

    By Ruchira Singh
    MUMBAI (Reuters) - Sluggish gold sales during the Akshaya Tritiya festival, normally seen as an auspicious time to buy the metal, provide the latest evidence of high prices hurting demand from the world's top consumer.

  • Blackberry devices are used in Los Angeles in this March 3, 2006 file photo. Research in Motion has said it expects to resolve in a month Indian security concerns about its BlackBerry wireless e-mail device, India's telecoms minister said on Friday. REUTERS/Mario Anzuoni/Files
    India says RIM to resolve BlackBerry issue in 1 month Reuters - 02:51 PM

    NEW DELHI (Reuters) - Research in Motion has said it expects to resolve in a month Indian security concerns about its BlackBerry wireless e-mail device, India's telecoms minister said on Friday.

  • Kawasaki Heavy to sell 150 cc sports bikes in India Reuters - 02:36 PM

    TOKYO (Reuters) - Kawasaki Heavy Industries Ltd said on Friday it would start selling Kawasaki brand sports motor bikes in India through carmaker Bajaj Auto by the summer of 2009 to tap growing demand for luxury bikes there.

  • Gold bars are seen in a jewellery shop in Lucknow in this January 10, 2008 file photo. REUTERS/Pawan Kumar/Files
    Gold prices harden, demand low Reuters - 02:33 PM

    MUMBAI (Reuters) - India's gold prices hardened on Friday as overseas markets held on to robust gains a day ago on a weaker dollar overseas, while demand remained low with the busy season coming near its close, dealers said.

  • People are reflected on an electronic graph display showing updates of the Nikkei share average outside a brokerage in Tokyo in this February 22, 2008 file photo. REUTERS/Issei Kato/Files
    Nikkei snaps winning streak, shippers steam higher Reuters - 02:00 PM

    By Elaine Lies
    TOKYO (Reuters) - Japan's Nikkei stock average snapped a four-day winning streak on Friday to end down 0.2 percent as investors locked in profits and exporters such as Canon Inc were sold on a slightly stronger yen, but the benchmark still saw its strongest week in 3 months.

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