| New Delhi 31° Min: 28 °C Máx: 41 °C |
Investors cheered the Budget 2011-12 on Monday pushing up the Sensex nearly 600 points before profit-booking erased gains as the BSE benchmark index closed at over 17,823, up about 122 points. Markets welcomed the budgetary proposals to reduce surcharge on corporate tax to 5 per cent, push reforms and contain inflation, with the Bombay Stock [...]
A disinvestment target of Rs 40,000 crore for 2011-12, bank licenses to new private sector players and speeding up of various pending financial sector bills were some of the highlights of Budget proposals presented by Finance Minister Pranab Mukherjee on Monday. Here are some major announcements made by Mukherjee in his Budget speech in the [...]
In one of the country’s biggest energy deals, Reliance Industries on Monday announced sale of 30 percent stake in its 23 blocks including the giant KG-D6 gas fields to UK’s BP Plc for USD 7.2 billion. Besides the stake transfer, Reliance and BP will form a 50:50 joint venture for the sourcing and marketing of [...]
Inflation declined marginally to 8.23 per cent in January from 8.43 per cent in the previous month, as prices of certain commodities like wheat, pulses and sugar eased, although essential items like onion and other vegetables continue to remain dearer. The headline inflation, based on wholesale prices, has remained above 8 per cent-mark since January [...]
Another effort by the Centre towards a consensus on the proposed Goods and Services Tax has suffered a setback with 10 states opposing the new draft for a tax regime aimed at changing India’s fiscal landscape. The consensus for a Constitution Amendment Bill among states could not be reached even after Union Finance Minister Pranab [...]
The BSE benchmark Sensex rose by over 63 points in opening trade on Friday on bargain buying by funds and retail investors, triggered by a firming trend on other Asian bourses. The Sensex, which has lost nearly 575 points during the past three sessions, rose by 63.60 points, or 0.36 per cent, to 17,526.64 points [...]
The Bombay Stock Exchange benchmark Sensex shed 135 points in opening trade today amid sustained foreign capital outflows and a mixed trend on other Asian bourses. The 30-share index, which fell by 261.49 points in yesterday’s session, lost 134.44 points, or 0.76 per cent, to 17,641.26 points in opening trade today. In a similar fashion, [...]
Finance Minister Pranab Mukherjee today said steps have been taken to tame inflation but the government has no magic lamp to bring it down immediately. “You cannot expect that there is any magic wand or like Alladin’s magic lamp that you rub it and your problem is solved,” Mukherjee told reporters here. He said the [...]
The Indian rupee fell by 4 paise to Rs 45.65 against the US dollar in early trade at the Interbank Foreign Exchange on Friday, weighed down by gains registered by the greenback against other currency rivals. Forex dealers said besides dollar gains against other Asian currencies, a weak opening in the stock market due to [...]
Providing no respite to the common man, food inflation rose to 17.05 per cent for the week ended 22nd January, as Finance minister Pranab Mukherjee expressed “grave concern” and assured steps to moderate it. Driven by higher prices of vegetable, fruits and eggs, food inflation increased for the second week in a row, soaring by [...]