Investing News - Page 26

Suzlon to save 200m euro by sourcing more from India, China

Wind turbine maker Suzlon expects to save 200 million euros in its overall cost by next fiscal.

RBI will intervene in rupee spiral, but will retain reserves

The Reserve Bank of India (RBI) will intervene to smooth sharp movements in the rupee, but will balance this with the need to retain reserves in the event of prolonged turbulence, its deputy head said today.

Fundamentals strong, market crash due to FII pull out: FM

The government today asserted that India's growth and fundamentals are strong and attributed the bloodbath in the stock markets to global factors.

Siemens falls to 1 year low on poor Q4 results

The company's stock, which opened on a sluggish note, lost 5.21 percent to witness a 52-week low of Rs 664 on the BSE in early trade.

Force Motors to invest Rs 1,000 cr on new models

On Tuesday the company said it will "almost exit" its JV with MAN Truck & Bus AG by selling 5.58 lakh shares to its German partner for over Rs 1,050 crore.

Blackstone to invest $500-720 mn in India

The firm expects to do five or six deals a year in India of roughly $100 million to $120 million each

Mahindra Satyam net rises 10-fold in Q2 to Rs 238 cr

IT firm Mahindra Satyam today posted a 10-fold growth in profit-after-tax to Rs 238 crore for the second quarter of the 2011-12 financial year.

Reliance's KG-D6 fields: CBI to study international norms in oil exploration

The agency has sought the assistance of the ministry to understand the arguments offered by Mukesh Ambani's firm when it raised the cost of developing Dhirubhai 1 and 3 gas fields in the KG-D6 block.

US closes two more banks, 87 so far in 2011

US regulators closed two more banks on Friday , one in Utah and another in Nebraska, bringing the total number this year to 87.

Yahoo sale process heats up as PE firms sign on

Private equity firms have indicated a willingness to commit around $1 billion in equity as part of the transaction.

MF Global's bankruptcy is 7th largest in US corporate history

Jon Corzine stepped down as the Chairman and CEO of MF Global Holdings after his bets on European debt drove the futures brokerage into bankruptcy.

Groupon debuts with a bang, here are some key facts

Groupon debuted on Friday with a bang as its stock price rose by almost 56 percent taking the company's market capitalisation to an astounding $20 billion.

Maruti Suzuki shares slips 6 percent on poor Q2 performance

Shares of Maruti Suzuki tanked by over 6 percent in morning trade on the bourses today after the leading car-maker reported a nearly 60 percent fall in September quarter net profit.

Not in a hurry to raise interest rates now, says SBI

However, SBI continues to trade 3.6 percent lower, even as the management said it has removed pre-payment charges on floating rates as announced in the policy.

Profit of JSW Steel slips 71% on forex loss, iron ore shortage

Company officials say the profit would have been much higher had the production not been cut due to severe iron ore shortage and also the forex translation losses of Rs 512.98 crore due to adverse movement in rupee dollar parity.

SBI to take a call on overseas funding in November

State Bank of India, the country's biggest lender, will take a call on raising funds through medium term notes (MTN) in November.

Idea Cellular net falls 41% to Rs 106 cr on 3G cost

Brokerages had, on average, expected net profit of Rs 158 crore for the company

Yes Bank profit up 33 percent on non-interest income growth

Private sector lender Yes Bank today posted a 33.3 percent growth in net profit at Rs 235 crore for the second quarter on the back of a healthy growth in its non-interest income, which offset a marginal dip in net interest margin.

Despite margin pressure, UltraTech Cement net doubles to Rs 279 cr

UltraTech, part of the diversified Aditya Birla Group, and major competitors ACC, Ambuja Cement and Jaiprakash Associates account for around 50 percent of India's cement market.

Hexaware Tech net rises 54% to Rs 65 cr, beats estimates

Shares of the Mumbai-based firm, which were down by about 2.6 percent before earnings, pared the losses and turned positive after the results.

Manpower goes up at Maruti's Manesar plant; strike continues

The number of workers on duty at its Manesar plant has gone up to 600, while talks brokered by the Haryana government between the management and striking employees are on to bring a<br /><br /> solution to the 13-day impasse.

Hero MotoCorp aims export of 10 lakh units in 5-6 yrs

Free from export restrictions imposed by its ex-promoter Honda, India's largest two-wheeler maker Hero MotoCorp today said it aims to sell 10 lakh units in the overseas markets in the next 5-6 years.

Negotiations to end Maruti strike break down

Officials of Haryana labour department held talks with workers of Maruti Suzuki India (MSI) and Suzuki Powertrain India Ltd (SPIL), as well as their managements during the day, but a solution to end the 12-day-long stir remained elusive.

NIIT Tech Q2 net up 5% at Rs 46 crore

The consolidated revenue of the company also increased to Rs 371.1 crore in the quarter from Rs 324.6 crore over the corresponding period last year.

Coal India defies downtrend in market, closes 3% up

The marketmen said that the stock bounced back as workers at the coal major yesterday withdrew their proposed three-day strike after reaching an agreement with the management over higher bonuses.

HCL plans $230 mn capex, but brokers remain negative on the stock

The company's cash and cash-equivalents stood at Rs 469.4 crore as on September 30, 2011.

Gold recovers to Rs 27,000, likely to stay bullish

Gold prices, which had collapsed in the last week of September, have recovered significantly and are now hovering around Rs 27,000 per ten grams. Going forward, fresh buying by stockists and jewellers to meet the ongoing festival demand is likely to further fuel the uptrend.

Reliance Industries net profit up 15.8 pc to Rs 5,703 cr

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