FDI hike in Insurance soon?
Finance Minister Pranab Mukherjee has said that the 26 per cent foreign direct investment (FDI) cap in the Insurance sector will be raised. The Finance Minister was speaking exclusively at the Indo-US CEO forum in Washington. Pranab Mukherjee said that, “We have committed to allow 49 per cent and the necessary legislation is pending before [...]
Sensex in the red on weak Asian cues, metals decline
Indian markets opened lower as the world markets’ enthusiasm over flexibility of the Yuan disappeared. The Sensex, which had rose to a 2 month high on Monday, dropped half a per cent to 17,785 while the Nifty shed 15 points and was trading at 5,328 at 9.08 a.m. Overnight, the Dow closed 8 points lower [...]
Sensex soars on firm Asian trade; end of ULIP row
Indian markets opened with a gap up on global cues after ending down on Friday. The Sensex and Nifty added more than 1.2 per cent each in early trade on the back of Asian markets that were soaring after China’s announcement of a greater exchange rate flexibility on Saturday. The Sensex was trading at 17,798 [...]
Mukesh unveils RIL’s mega plans for power, telcom
Free to enter new businesses after scrapping a non-compete pact with brother Anil, Mukesh Ambani on Friday unvieled RIL’s mega plans for power and telecom to double enterprise value to $160 billion in 10 years, as also intent to supply gas to Anil Ambani Group’s power plants. “As and when the power plants of ADAG [...]
It’ll be business as usual at RIL AGM: Sources
Within days of a truce with younger brother Anil, Reliance Industries chairman Mukesh Ambani will address shareholders of Reliance Industries on Friday and is expected to announce group’s mega investment plans in sectors which were earlier out of its bound because of non-compete agreement with Reliance ADA Group. Sources say shareholders expecting the bonus [...]
LIC, 4 banks may invest in Videocon
MUMBAI: Country’s largest insurer LIC and four leading banks, including the IDBI Bank, may invest around Rs 160 crore in Videocon Industries to fuel its expansion programme. The Rs 161-crore investment would be done by way of preferential allotment and will enable Videocon Industries to meet its working capital requirements and on-going capital expenditure, Videocon [...]
Gold falls as traders cash in profits after fresh highs
Gold futures fell in Asia as traders cashed in profits after the metal registered new highs yesterday. In electronic session yesterday the commodity had hit a new lifetime high of $1154.5 per ounce and the level triggered prompt profit booking. The domestic gold futures surged to nearly Rs 19200, however it closed below Rs 19000 [...]
Sensex tops 17,000 on broad gains
Indian markets opened with a gap up and sustained the momentum as all around buying pushed the benchmark indices above important psychological levels. The Sensex crossed the 17,000 mark while Nifty topped 5,000 in early trade. Both the indices gained close to a per cent and three quarters on the back of strong global cues. [...]
