RBI worried about rise in inflation - minutes

MUMBAI  - Worry that rising consumer prices will threaten the Indian central bank's inflation target of 4 percent led the majority of the Reserve Bank of India's monetary policy committee to vote to keep rates steady, according to minutes issued on Wednesday.

Committee members also said at their Oct. 4 meeting they expected that a slowdown in economic gro

Millions of Britons in financial difficulty

By Huw Jones

LONDON- Over four million people in Britain are having difficulties paying their monthly bills, the Financial Conduct Authority (FCA) said on Wednesday, at a time when inflation is rising and interest rates may follow.

The financial regulator said that younger consumers and renters were among the most financially stretched, with those in difficu

Piped natural gas to reach Bhubaneswar, Cuttack by 2019

A total of 25,000 households in Cuttack and Bhubaneswar cities will be provided Piped Natural Gas (PNG) connection by the end of 2019, said an official on Wednesday.

"Around 25,000 households in Bhubaneswar and Cuttack would get PNG connection in their kitchens by December 2019 as part of th City Gas Distribution (CGD) project. The number of PNG connections will be gradually ramp

Decent Operational Performance Expected - Reliance Sec

All-India power demand rose by 5.3% YoY to 303bn units in 2QFY18 compared to 287bn units and 307bn units in 2QFY17 and 1QFY18, respectively led by 6.1% YoY rise in thermal generation. Coalbased generation grew at an improved pace of 6.1% YoY, while hydro generation dipped by 3.7% YoY to 45bn units. All-India PLF of thermal sector stood at 57.6% in 2QFY18 vs. 54.4% in 2QFY17 due to improved syst

18/10/2017 5:30:41 PM | Posted in Broking Firm Views - Sector Report read full news
Sequential Improvement Expected; Long-term Prospects Remain Intact - Reliance Sec

The pharmaceutical companies under our coverage universe are expected to report a muted performance on YoY basis in 2QFY18 due to multiple headwinds in the US led by increasing pricing pressure, lack of niche opportunities and channel consolidation. However, we see sequential improvement on account of lower base and rebound in domestic formulation business. We expect sales, EBITDA and PAT of th

18/10/2017 5:23:28 PM | Posted in Broking Firm Views - Sector Report read full news
Bain defends Asatsu-DK bid as shareholder opposition grows

By Elzio Barreto and Junko Fujita

HONG KONG/TOKYO - Bain Capital defended its $1.35 billion offer to buy Asatsu-DK Inc on Wednesday as shareholder opposition to the deal grew, saying the offer is "fully priced".

Hong Kong-based activist hedge fund Oasis Management Company and other shareholders of Japan's third-largest advertising agency have s

Dow set to open above 23,000 for the first time

By Sruthi Shankar

The Dow Jones Industrial Average was poised to open above 23,000 for the first time on Wednesday following a series of upbeat earnings reports from marquee companies.

* The index briefly surpassed the milestone on Tuesday but closed at 22,997 points, up 3,235 points since the start of the year. The latest 1,000-point increase was covered in roughly half the

IMG suggestions to ease financial stress: Telecom Ministry

A senior government official has said that the telecom ministry is likely to place its recommendations to cabinet of inter-ministerial group (IMG) on easing financial stress in the sector. Commenting on the issue, a telecom official told the media, "Telecom Ministry will send IMG recommendations to Cabinet for its approval in about 4 weeks." As per reports, the apex decision making bo

Brexit talks uncertainty factored in to UK rating - S&P Global analyst

LONDON - The uncertainty surrounding Brexit talks is largely factored in to the UK's credit rating, S&P Global said on Wednesday, but it had worries about the country's economic prospects.

"We really have genuine concerns about the economic performance over the next few years," Frank Gill, one of S&P's top sovereign analysts, told Reuters

Railway Board empowers DRMs to re-engage retired rail staff

The Railway Board has empowered Divisional Railway Managers (DRM) to re-engage retired rail personnel for appropriate posts in the sector. In a letter dated October 16, the board gave the power to the DRMs to employ pensioners at their discretion. "Divisional railway managers are empowered to re-engage retired employees.

Railway should give publicity to such re- engagement by put

USDINR prices to find support in the range of 64.80 –64.70 levels - Angel Broking

NSE USDINR Oct (CMP – 65.0325)

NSE USDINR Oct as seen in the weekly chart above has opened the week at 65.5550 levels and at the starting of the week it made a weekly high of 65.60 levels. Later on as expected prices could not able to sustain on higher levels and corrected sharply and made a weekly low of 64.9625 levels. This week prices have clo

Factbox: Who will Trump pick to lead the Federal Reserve?

U.S. President Donald Trump has interviewed several top prospects for the post of Chair of the Federal Reserve. A nomination could come within weeks as the term of current Chair Janet Yellen ends in February 2018.

Yellen will meet with Trump about the job on Thursday.

He faces a choice between two continuity candidates, Yellen and Governor Jerome Powell, and a clutch of outs

IDBI Bank employees to go on two-day strike from Oct 24

A section of IDBI Bank employees has given two-day strike call beginning October 24. United Forum of IDBI Bank officers and Employees have given a 2-day nationwide strike call in support of their demands, IDBI Bank said in a regulatory filing to stock exchanges. Demands include wage revision for employees and officers due for the period from November 2012 to October 2017 on the lines of the set

NIIT Tech Q2 profit up 14% at Rs 67.2 cr

NIIT Technologies today posted 14.4 per cent increase in consolidated profit after tax at Rs 67.2 crore for the second quarter ended September 30. The company had registered PAT of Rs 58.9 crore in the same period a year ago. The total revenue of the company increased by about 7 per cent to Rs 745.4 crore in the reported quarter from Rs 696.7 crore in the corresponding quarter of previous fisca

Last Metro will be at 10 p.m. on Diwali

Delhi Metro will run its last service on Diwali night on Thursday at 10 p.m.

"On account of Diwali, the last Metro train service on October 19 ... will start at 10 p.m. from terminal stations of all metro lines," the Delhi Metro Rail Corp said in a statement. On normal nights, the last trains originate at 11.30 p.m.

The services will on Thursday start as usual at 6

GST `killing` Kerala`s booming tourism industry: Stakeholders

Kerala's money-spinning tourism industry has been hit hard by the GST regime, with taxes shooting to as high as 33 per cent and affecting five-star resorts, industry players say.

According to GST Council tax rates, non-AC restaurants charge 12 per cent GST on food while AC restaurants and those with liquor licence charge 18 per cent. Five-star hotels charge a GST of 28 per cent.

Nifty snaps four-day rally; Axis Bank slumps

The Nifty snapped a four-day winning streak to end lower on Wednesday, after a rise in bad loans at Axis Bank Ltd sparked concerns about the recovery of stressed assets in the country's banking sector.

The Nifty ended 0.23 percent lower at 10,210.85, after three straight record-breaking sessions, while the benchmark Sensex closed down 0.08 percent at 32,584.35, its second consecut

Factbox: Excerpts from U.S. SEC fraud filing against Rio Tinto former top executives

The U.S. Securities and Exchange Commission (SEC) has charged mining company Rio Tinto and two of its former top executives with inflating the value of coal assets in Mozambique and concealing critical information while tapping the market for billions of dollars.

Thomas Albanese, 60, was chief executive of Rio Tinto from May 2007 until January 2013, when he was forced out after the co

Bangladesh set to sign 15-year gasoil import deal with India

By Ruma Paul

DHAKA - Bangladesh Petroleum Corp (BPC) is set to sign a 15-year deal with Indian oil refiner Bharat Petroleum Corp Ltd (BPCL) to import gasoil to meet the country's energy demand, two company officials with the direct knowledge of the matter said.

The sales and purchase agreement is expected to be signed on Oct. 22 during Indian Foreign Min

India`s tightened consumer goods standards could hurt China imports

By Neha Dasgupta and Sanjeev Miglani

NEW DELHI  - India is tightening quality controls for consumer and capital goods, officials say, a move that follows calls to curb cheap imports from China amid diplomatic tensions between the world's two most populous nations over their shared border.

The new rules target toys, electronic goods, machinery, food

Gold worth Rs 120cr transacted within 6 months: Paytm

Mobile wallet company Paytm today said gold worth Rs 120 crore has been transacted within six months of launch of sales on its platform and the number of buyers crossed one million mark on the Dhanteras day. The company said it witnessed 12 per cent surge in gold sales on Dhanteras, which was celebrated yesterday across the country.

It is an auspicious day to buy gold, silver and othe

DIPP simplifies norms for processing FDI proposals: Reports

The commerce and industry ministry has said that it has eased the mechanism for processing foreign direct investment (FDI) proposals by doing away with the requirement of sending the applications to the department of revenue. Commenting on the issue, the Department of Industrial Policy and Promotion (DIPP) said that marking of proposals to the revenue department for their comments has been &quo

Buy Kansai Nerolac Paints Ltd For Target Rs.520.00 - Prabhudas Lilladher

KNPL’s strong performance continued with 16.2% sales growth led by 18% volume growth. Early onset of festival season and post GST re‐stocking enabled 20% volume growth in decorative paints. Strong durable re‐stocking and strong auto OEM volumes provided flip to Industrial paints. While KNPL’s raw material basket witnessed some relief in Q2 with TiO2 prices declining by 7.7%, ove

18/10/2017 3:38:35 PM | Posted in Broking Firm Views - Long Term Report read full news
Hit by DeMo-GST, corporates slash gifts by 35-40%: Assocham

In sync with low-key festivities due to slowdown concerns and pressure on their balance sheets, corporate India is going rather lukewarm in Diwali gifts this year, slashing the budget by at least 35-40 per cent under this head, says a survey by industry chamber Assocham. The reduction in gifts from corporate houses to their associates, networked partners, employees and other key personalities i