The Bombay Stock Exchange Sensex fell nearly 205 points of reference in the opening trade on Friday. The 30-stock index, which lost 738 points in two previous sessions, fell by 204 points, or 1.25 percent, to 16,156 in the first minutes of trading on Friday.
All sectors, indices, led by metals, real estate stocks, banks and cars were red, pull Sensex near the critical 16,000 points mark. The Read more…
RBI hikes repo, reverse repo rate by 25 basis points
Reserve Bank of India raised the repo rate and repo rate by 25 basis points in mid-quarter review of monetary policy to control inflation. Inflation rose 9.2 percent in July to 9.8 percent in August this year.
The interest rate rose to 8.25 percent from 8 percent, while the repo rate was increased to 7.25 percent to 7 percent. The facility has Read more…
Govt sets pay Rs 617 Cr tax demand on Satyam Computer The government today informed the Supreme Court that it will set aside its order directing the scam-hit, IT firm Satyam Computer to pay 617 crore rupees as income tax.
Attorney General Goolam E Vahanvati, appearing for the Central Board of Direct Taxes (CBDT), told the apex court that it would recall its March 10, 2011, order, demanding tax and decide afresh on the actual tax liability Read more…
Vodafone buys Essar’s stake for $5 bn UK-based Vodafone on Thursday acquired 33 per cent stake of its Indian partner Essar in the joint venture Vodafone Essar for USD 5 billion and may go for a new ally or opt for public offering to remain FDI compliant.
“Currently we (Vodafone) are having 42 per cent stake in Vodafone Essar and after acquiring Essar’s additional 33 per Read more…
Lok Sabha passes Union Finance Bill after roll back service tax on healt care The Lok Sabha has passed the Union Finance Bill after Finance Minister Pranab Mukherjee rolled back five per cent service tax on health care and announced a few other tax concessions.
With the passage of the Finance Bill yesterday, the Lok Sabha completed Read more…
FM approves higher interest rate of 9.5 per cent for EPF
The Finance Ministry Pranab Mukherjee has approved higher interest of 9.5 per cent for depositors with the Employees’ Provident Fund Organisation for the year 2010-11.
A recommendation to this effect was made by the EPF Board earlier. The Central Provident Fund Commissioner Samirendra Chatterjee said in Read more…
Crude oil hits $ 111 per barrel for 1st time since 2008
The price of Brent crude oil has hit 111 dollars a barrel and U.S crude also rose in price as worries persist about the unrest in Libya.
Markets are concerned that the trouble could worsen in key oil producing countries affecting supplies and hitting growth. The price of Brent rose more than 5 dollars a barrel to 111.25 dollars. Read more…
FM approves additional Rs 8K crore subsidy for fuel retailers
The government has approved an additional subsidy of eight thousand crore rupees today to make up for the losses suffered by state-run fuel retailers on the sale of diesel, LPG and kerosene below cost in the third quarter.
The official sources said that the Finance Ministry has issued a letter approving the payment of a Read more…
BSE Sensex down by over 300 points; Rupee falls by 21 paisa The Bombay Stock Exchange benchmark Sensex plummeted by over 300 points in opening trade on Monday.
This follows panicky fund managers and retail investors giving into selling pressure for the fourth consecutive session, prompted by weak global cues amid concerns over the unrest Read more…
The Bombay Stock Exchange benchmark Sensex plummeted by over 300 points in opening trade on Monday.