ECONOMY & NATION


Moneylife Digital Team 27 May 2013
The consolidated net profit of the PSU for the year ended 31 March 2013 also went up to Rs17,356 crore against Rs14,788 crore in the previous fiscal   State-owned Coal India (CIL) today reported almost 35% rise in the consolidated net profit at Rs5,413.9 crore for the fourth quarter...

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Moneylife Digital Team 27 May 2013
Amway India chief William Scott Pinckney and two other directors are arrested by Kerala Police over financial irregularities Crime Branch officials of Kerala police arrested Amway India’s managing director and chief executive William Scott Pinckney and two other directors of the...

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Moneylife Digital Team 27 May 2013
DoT, in its contempt plea, had said that instead of complying with the orders passed by the high court, Idea Cellular had filed an additional affidavit stating that it has “additionally decided” to provide 3G services to those existing customers who meet the criteria The Delhi High Court...

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Moneylife Digital Team 27 May 2013
iGate, which was in news for sacking of its chief executive Phaneesh Murthy over non-disclosure of his alleged affair with a subordinate, said these demands are not tenable and the Nasdaq-listed firm has approached the requisite appellate authorities After WNS and Infosys, iGate is the...

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Mohan Siroya 27 May 2013
Who is monitoring the implementation of quality of services and in cases of violations, what the TRAI is doing? If a service provider explicitly or deliberately violates the QOS, it gets immunity till the violation is set right and no penal action for such anti–consumer act is transparently...

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Moneylife Digital Team 27 May 2013
As per the norms, life and general insurance companies with a minimum net worth of Rs500 crore and Rs250 crore, respectively, can apply for setting up of foreign business The Insurance Regulatory and Development Authority (IRDA) has allowed insurers with sound financial health and a...

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Moneylife Digital Team 27 May 2013
Justifying the decision to treble LIC’s investment limit, Financial Services secretary Rajiv Takru said the insurance major was sitting on trillions of rupees which have to be invested The government will soon notify the increased equity exposure limit for Life Insurance Corporation of...

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Moneylife Digital Team 25 May 2013
Though RIL-BP did not put any reserves to the discovery, the find may possibly be the largest single discovery in the country. The discovery, which was notified to the regulatory authorities yesterday afternoon, has been named D-55 Reliance Industries (RIL) and its partner BP Plc of the...

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Moneylife Digital Team 24 May 2013
Pressure on NPAs, especially for public sector banks will continue as more loans turn into non-performing assets due to the overall slowdown in the Indian and global economy, says a study by NPAsource   Net non-performing assets (NPAs) or bad loans of 39 listed banks increased by a...

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Moneylife Digital Team 24 May 2013
According to Nomura, the US immigration bill, if passed, would place the Indian IT business model at competitive disadvantage compared with MNCs and depress margins irrevocably   The overriding factor in the information technology (IT) sector currently remains the overhang due to the...

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Moneylife Digital Team 24 May 2013
Price hikes of CNG and domestic PNG enabled blended EBITDA margins to remain resilient for Indraprastha Gas, says Nomura Equity Research in its Quick Note. A favourable Supreme Court decision on the PNGRB’s appeal against the Delhi High Court order is a must for restoring investor confidence...

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Moneylife Digital Team 24 May 2013
Dish TV now is clearly focusing on profitability and cash flow over immediate market share, says Nomura Equity Research in its Quick Note   Dish TV’s standalone results were ahead of expectations but missed consensus expectations at the operating level, said Nomura Equity Research in...

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Moneylife Digital Team 24 May 2013
For the financial year ended 31 March 2013, the steel giant reported a consolidated net loss of Rs7,057.62 crore as against a net profit of Rs5,389.77 crore, largely due to the $1.6 billion impairment   Tata Steel reported a consolidated net loss of Rs6,528.51 crore for the quarter...

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Moneylife Digital Team 23 May 2013
Quantitative easing is a powerful monetary policy tool to revive markets and the economy. However, recent analysis has shown that there is no difference on how it affects economy. If at all, central banks’ policies has made markets more volatile than before with Warren Buffet stating that if...

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Moneylife Digital Team 23 May 2013
Upholding judgements of the district and state forums, the National Consumer Commission directed Shriram Finance Co and Citicorp Finance to pay a punitive cost of Rs25,000 for inordinate delay in filing their appeal   The National Consumer Disputes Redressal Commission (NCDRC) while...

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Moneylife Digital Team 23 May 2013
 “We expect the current account deficit to widen to 5.5-6% of GDP due to sluggish exports, front-loading of gold demand and a seasonal rise in imports,” said Nomura in its report on the Indian economy   After hitting a record high of 6.7% of GDP (gross domestic product) in Q4...

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Moneylife Digital Team 23 May 2013
Change in product mix and lower capacity absorption at one of its plants meant lower operating and net profit for PI Industries. Despite this, Edelweiss has rated the company as a Buy and values the company at Rs160 per share   PI Industries saw its net revenue for the quarter ended...

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Moneylife Digital Team 23 May 2013
Redington management’s guidance implies significant growth in around 35%-40% range in H2FY12F for the India business, says Nomura Equity Research in its Quick Note   According to Nomura Equity Research in its Quick Note, Redington India’s Q2 results were broadly in line with estimates...

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Moneylife Digital Team 23 May 2013
At net profitability level, L&T was able to make up some of its lost ground due to higher other income and lower tax rate, according to Nomura Equity Research in its Quick Note   In its Quick Note on Larsen & Toubro’s (L&T) fourth quarter performance, Nomura Equity Research said that...

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Moneylife Digital Team 23 May 2013
Decades of under-investment, followed by a march towards building sufficient power for the nation, have created significant opportunities, although structural constraints and rising competition suggest the need to be selective   The share prices of Voltamp and Bharat Bijlee...

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