Business Line articles from January 2011

Business Line archives from January 2011

FRONT PAGE: Costlier commodities dent Maruti's profit.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Mumbai, Jan. 29 - Maruti Suzuki has reported an 18 per cent drop in net profit to Rs 565 crore (Rs 687 crore) for the third quarter ended December 31. The company attributed this to adverse foreign exchange...

FRONT PAGE: Steel majors to hike prices by up to Rs 1,500/t.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Mumbai, Jan. 29 - With the sharp rise in iron ore and coking coal prices, steel companies are set to hike prices by Rs 1,000 to Rs 1,500 a tonne in February. Though manufacturers such as Tata Steel, JSW Steel...

FRONT PAGE: A man who feels the pulse of the market.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Mumbai, Jan. 29 - Mr Upendra Kumar Sinha, tipped to be the next Chairman of SEBI, will be no stranger to the organisation if he takes charge of the Board on February 17; the 59-year old will be the sixth SEBI...

FRONT PAGE: Mobile operators have to pay market-based price for air waves.
January 30, 2011... from BUSINESS LINE, January 30, 2011 New Delhi, Jan. 29 - In a bid to make 2G spectrum allocation more transparent, the Communications and IT Minister, Mr Kapil Sibal, on Saturday announced a complete overhaul of the existing policy by delinking...

FRONT PAGE: New players may have to cough up more.
January 30, 2011... from BUSINESS LINE, January 30, 2011 New Delhi, Jan. 29 - The revamped 2G spectrum allocation policy will put more pressure on new operators who were given cellular licences in 2008. While they are facing a potential cancellation of their...

NEWS: Global economy in 'post-crisis' mode.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Davos, Jan. 29 - Global policymakers believe that the world economy is today in a "post-crisis" mode, even as they warn of dangers from inflationary pressures in emerging economies, lingering sovereign debt...

NEWS: High Court order on dyeing units may have financial impact.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Chennai, Jan. 29 - The Madras High Court's order shutting down the bleaching and dyeing units and effluent treatment plants in Tirupur will affect several lakh jobs, according to industry representatives. ...

NEWS: Emami buys second Egyptian FMCG unit.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Kolkata, Jan. 29 - Emami Ltd formally announced acquisition of a manufacturing unit in Egypt. The company, through an indirect subsidiary, bought 90.6 per cent of an Egyptian unit. A company release said...

NEWS: Iron ore futures get going on MCX, ICEX.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Mumbai, Jan. 29 - Futures trading in iron ore on the Multi Commodity Exchange and the Indian Commodity Exchange Ltd received an encouraging response on the inaugural day on Saturday. While MCX has taken...

CORPORATE: Oberoi net rises 56% to Rs 205 cr.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Mumbai, Jan. 29 - The Mumbai-based Oberoi Realty has posted a 56 per cent rise in net profit at Rs 205 crore for the quarter-ended December 31, compared with Rs 131 crore logged in the same period a year ago....

CORPORATE: Binani Industries to buy US co.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Mumbai, Jan. 29 - Binani Industries plans to acquire Composite Products Inc (CPI) Winona, Minnesota, US, for an undisclosed amount. CPI is engaged in the manufacture of composite products. Once the deal is...

CORPORATE: Reliance Infra commissions 116-km transmission line.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Mumbai, Jan. 29 - Reliance Infrastructure said it has commissioned the first 100 per cent privately owned 116 km-400 kV transmission line between Solapur and Karad in Maharashtra. The project on build, own...

CORPORATE: Seshasayee Paper net jumps 20%.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Chennai, Jan. 29 - Seshasayee Paper and Boards Ltd has reported a 20 per cent jump in net profit for the third quarter ended December 31, compared to the corresponding period in the previous year. The...

CORPORATE: JK Paper net profit at Rs 25.11 cr.(Financial report)
January 30, 2011... from BUSINESS LINE, January 30, 2011 New Delhi, Jan. 29 - JK Paper Ltd posted a 23.4 per cent rise in its net profit for the third quarter ended December 31 at Rs 25.11 crore, against Rs 20.35 in the corresponding period a year ago. The...

CORPORATE: CIL asked to relax bank guarantee clauses for import.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Kolkata, Jan. 29 - Global coal miners have suggested amendments - especially with regard to the bank guarantee clauses - in the tender documents for participation in the 10-year thermal coal off- take...

NEWS: SBI to offer loans at discount to cold storage projects.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Mumbai, Jan. 29 - State Bank of India has decided to offer discounted interest rates, ranging from 75 to 375 basis points, on the applicable card rates for creating cold storage and warehouse infrastructure...

NEWS: Real estate developers body to host 2-day conference.(Conference news)
January 30, 2011... from BUSINESS LINE, January 30, 2011 Bangalore, Jan. 29 - The Confederation of the Real Estate Developers' Association of India (CREDAI) will organise a two-day conference - Southcon 2011 - aimed at creating a platform for member organisations...

NEWS: Puravankara Projects Q3 net slides 6%.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Bangalore, Jan. 29 - An over 3.5-times increase in provisioning for taxes and dip in share of profit in associates have caused a 6 per cent dent in real estate developer Puravankara Projects' net profits for...

NEWS: Federal Bank net profit up 30% in Q3.(Financial report)
January 30, 2011... from BUSINESS LINE, January 30, 2011 Kochi, Jan. 29 - Aluva-based Federal Bank has registered a 30 per cent increase in its net profit during the third quarter ending December 31 to touch Rs 143.10 crore against the Rs 110.25 crore recorded in...

NEWS: Textile mills look at export window for relief.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Chennai, Jan. 29 - With cotton yarn prices dropping to Rs 220 a kg from Rs 240 a few weeks ago, textile mills are looking to the Centre for some relief in the form of raised export cap. "The Centre had...

NEWS: P&G Q2 net declines 40% to Rs 45 cr.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Mumbai, Jan. 29 - Proctor & Gamble has reported a 40 per cent drop in net profit from Rs 75 crore to Rs 45 crore for the second quarter ended December 31. According to the company, "Earnings are down...

CORPORATE: SnapDeal's owners raise $12 million.
January 30, 2011... from BUSINESS LINE, January 30, 2011 New Delhi, Jan. 29 - Jasper, the parent company of e-commerce Web site SnapDeal.com, has raised $12 million from leading investors in the Indian digital space, Nexus Venture Partners and IndoUS Venture...

NEWS: 'Changing consumption pattern favouring food marketers'.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Coimbatore, Jan. 29 - For the food marketers, "times could never be better than now in India" as Indians are changing their food consumption pattern powered by growing income levels and increasing awareness...

NEWS: Royal Statistical Society to honour C.R.Rao.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Hyderabad, Jan. 29 - Noted Indian statistician Prof. C.R. Rao, a nonagenarian, has been selected for the Guy Medal in Gold of the Royal Statistical Society, UK. It is a rare honour for he is the first...

NEWS: From share value to shared value.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Davos, Jan. 29 - Nearly two-and-a-half years after the collapse of Lehman Brothers and the return of a tad of optimism, there is still plenty of introspection among global CEOs on where things went wrong and...

NEWS: Dumping duty on acetone from Japan, Thailand mooted.
January 30, 2011... from BUSINESS LINE, January 30, 2011 New Delhi, Jan. 29 - The Designated Authority in the Commerce Ministry has recommended imposition of definitive anti-dumping duty on imported acetone from Japan and Thailand. This follows a petition from...

AGRI-BUSINESS: Palm oil may test resistance, fall.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Malaysian palm oil futures rose higher due to weather worries. Harvesting and transportation may be disrupted by rain in the main southern state of Johor. Trading volumes may also be thin, as most...

AGRI-BUSINESS: Mixed trend in rubber.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Kottayam, Jan. 29 - Spot rubber showed a mixed mood on Saturday. The market finished higher on covering purchases probably as a temporary recovery after the sharp declines during the past few sessions. ...

SCRIP SCAN: OnMobile Global Services: Buy.
January 30, 2011... from BUSINESS LINE, January 30, 2011 OnMobile Global Services is well placed to benefit from the rising demand for mobile value-added services, with telecom tariffs stabilising and the launch of 3G services. Given its return to the growth path...

INVESTMENT WORLD: Change of guard at SEBI.
January 30, 2011... from BUSINESS LINE, January 30, 2011 As U.K Sinha takes the hot seat as the Chairman of the Securities Exchange Board of India (SEBI) some time next month, he will lead an institution that has earned not much popularity, but certainly a...

INVESTMENT WORLD: Should you follow FIIs?
January 30, 2011... from BUSINESS LINE, January 30, 2011 FIIs have been quite the players in Indian markets, alarming and exciting market participants as they pick or step away from stocks and markets. With such blame or credit coming their way, would copying their...

29: Where the FIIs placed their bets in 2010.
January 30, 2011... from BUSINESS LINE, January 30, 2011 With domestic investors staying put on the sidelines, it is the foreign institutional investors (FIIs) who now hold sway on which stocks and sectors will deliver market-beating returns. Here is a look at the...

MARKET WATCH: Query Corner: Bajaj Auto in medium-term correction.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Can we buy Indiabulls Securities and JSW energy at current levels? Boravake J. Indiabulls Securities (Rs 19.2): In our review of this stock in January last year, we had written that as long as the stock...

MARKET WATCH: Dissector: CNX Bank Index.
January 30, 2011... from BUSINESS LINE, January 30, 2011 In our March 2010 review of CNX Bank Index (Bank Nifty) we had written that sideways move between 8,000 and 9,500 can be followed by a surge towards the index's previous peak of 10,775. In line with our...

MARKET WATCH: Sizzling Stocks.
January 30, 2011... from BUSINESS LINE, January 30, 2011 DLF (Rs 223.1) After testing its key long-term support in the band between Rs 250 and Rs 260, the stock nose-dived 11.6 per cent last week, conclusively breaking through it. The stock has been on an...

MARKET WATCH: Pivotals.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Reliance Industries (Rs 914.5) RIL tumbled 7 per cent with strong volumes last week. It is currently testing the lower boundary of its medium-term range. The weekly indicators have entered into the negative...

MARKET WATCH: Index Outlook: Market entering a cloudy patch.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Sensex (18,395.9) The vagaries of stock markets were once more on display last week. Stocks put up a gritty show in the run-up to the monetary policy and even managed to climb higher after the policy rate...

MARKET WATCH: Stock Strategy: Consider going short on ACC, MRF.
January 30, 2011... from BUSINESS LINE, January 30, 2011 ACC (Rs 981): Last week's carnage triggered a fresh selling in ACC, changing its outlook to negative. ACC now finds a crucial support at Rs 970, and a close below that could weaken it to Rs 858 first and then...

MARKET WATCH: Why investors prefer active mandates.
January 30, 2011... from BUSINESS LINE, January 30, 2011 It is good to see yet another passive investment product offered to the investors recently - a much-needed ETF on the mid-cap index. It is still early days to state that asset management firms in India are...

MUTUAL FUNDS: Quantum Long Term Equity: Invest.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Quantum Long Term Equity Fund's ability to generate higher- than-market returns over the long term with relatively less volatility than most other equity diversified funds makes it an ideal choice for a core...

MUTUAL FUNDS: Towards a set goal.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Investing with a pre-determined goal in mind helps investors choose the right kind of investment avenues besides systematically saving over the given time-frame. Fidelity India Children's Plan, is an...

MUTUAL FUNDS: Fund Talk.
January 30, 2011... from BUSINESS LINE, January 30, 2011 I am a 63-year old senior citizen and have been investing in mutual funds since 2001. To avoid long-term capital gains under the Direct Taxes Code regime post 2011-12, I have decided to sell all the schemes...

INVESTMENT WORLD: Seminar on sustainable cities.
January 30, 2011... from BUSINESS LINE, January 30, 2011 What makes for a sustainable city? A seminar on an integrated approach for developing sustainable cities, Smart Eco Systems, will debate issues relating to this topic next month. The event to be organised...

INVESTMENT WORLD: Developers gung-ho on Gujarat prospects.
January 30, 2011... from BUSINESS LINE, January 30, 2011 At the recently-concluded Fifth Vibrant Gujarat Global Investors Summit (VGGIS), 2011, some big-ticket players evinced interest in participating in the booming real estate market. Plans for real estate...

INVESTMENT WORLD: Coimbatore set for a facelift.
January 30, 2011... from BUSINESS LINE, January 30, 2011 For long, Coimbatore nursed an angst that despite the city's contribution to the Centre and State kitty by way of taxes, it did not get much in return. This feeling only gained in strength on seeing the...

INVESTMENT WORLD: Computing capital gains on sale of land.
January 30, 2011... from BUSINESS LINE, January 30, 2011 My father purchased a plot of land measuring 4 grounds in my name about 20 years ago. At the same time he had also taken a power of attorney in his favour to deal with the land. About 15 years ago he...

INVESTMENT WORLD: Don't mix investments and obligations.
January 30, 2011... from BUSINESS LINE, January 30, 2011 I am a 44-year-old working in a private company. My parents (above 70), wife (40), and daughter (8) are my dependants. My monthly take-home salary is Rs 55,000. My household expenses is Rs 25,000 and I pay Rs...

INVESTMENT WORLD: Against the tide - Building a portfolio of 'i-Like' stocks.
January 30, 2011... from BUSINESS LINE, January 30, 2011 While talking to an industry colleague a few days ago, an interesting idea came up - a consumption fund that invests in industries that you consume from or hope to consume from. So if you love, say,...

INVESTMENT WORLD: Newton moves markets too.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Isaac Newton's contributions to physics and mathematics proved revolutionary. He didn't, however, prove to be as astute an investor, as evidenced by his losses during the South Sea bubble. The company...

INVESTMENT WORLD: De-coding credit policy terms.
January 30, 2011... from BUSINESS LINE, January 30, 2011 "Last month I spent Rs 500 extra on vegetables. Onion and tomato alone ate into my movie budget," cried Sonu, a young man who works with an animation company. Rise in the prices of vegetables, cereals, milk...

INVESTMENT WORLD: Truly, madly, deeply anchored.
January 30, 2011... from BUSINESS LINE, January 30, 2011 I recently had a "psychological experience" at a book store. I collected couple of CDs to drop into my shopping cart when I realised that the store had a 50 per cent discount on them till a fortnight ago....

INVESTMENT WORLD: Myopic CEOs.
January 30, 2011... from BUSINESS LINE, January 30, 2011 After interviewing more than a hundred Chief Executive Officers (CEOs) and other C-level executives from multinational companies, regional conglomerates, and small and medium enterprises (SMEs) in more than...

INVESTMENT WORLD: Mad in the Studio.
January 30, 2011... from BUSINESS LINE, January 30, 2011 With corporate results, inflation and rate hike making headlines throughout the week, conversation in The Studio too meandered around the same. Here's a sneak peek to the 'expert' musings on the stock markets...

SCRIP SCAN: Cadila Healthcare: Buy.
January 30, 2011... from BUSINESS LINE, January 30, 2011 Good results, bright prospects in the domestic and export markets and better growth expectations from its joint venture companies make Cadila Healthcare a good investment bet for the long- term. At the...

SCRIP SCAN: M&M Financial Services: Buy.
January 30, 2011... from BUSINESS LINE, January 30, 2011 With automobile and commercial vehicle makers making a big push into rural and semi-urban areas, credit needs in these markets are likely to explode. Mahindra & Mahindra Financial Services (Mahindra...

SCRIP SCAN: Castrol India: Buy.
January 30, 2011... from BUSINESS LINE, January 30, 2011 An automotive segment in high gear, premium product mix, and a formidable brand bode well for the prospects of Castrol India, a leading player in the lubricants market in the country. Also, the company has...

FRONT PAGE: Negative mood slams market, again.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Mumbai, Jan. 28 - The all-pervading negative sentiment resulted in another day of significant losses on the bourses as FIIs continued to sell stocks to book profits. On Friday, the Sensex lost 288.46...

FRONT PAGE: Suzlon wins $1.28-b Caparo wind power deal.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Mumbai, Jan. 28 - Wind turbine maker Suzlon Energy said it has won an order for 1,000 MW of projects worth $1.28 billion (around Rs 5,800 crore) from Caparo Energy India. The projects will be progressively...

FRONT PAGE: U.K. Sinha is next SEBI chief.
January 29, 2011... from BUSINESS LINE, January 29, 2011 New Delhi, Jan. 28 - The Centre has appointed Mr U.K. Sinha as the SEBI's next Chairman. A formal order to this effect is being issued today, official sources said. Mr Sinha will have a term of five years...

FRONT PAGE: Ashok Soota quits MindTree.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Bangalore, Jan. 28 - Mr Ashok Soota, one of the icons of the Indian IT industry and Executive Chairman of MindTree, on Friday announced that he has resigned from the company he co-founded with nine others 11...

CORPORATE: Cadila, Bayer Healthcare tie up for marketing of pharma products.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Ahmedabad, Jan. 28 - Pharmaceutical majors Cadila Healthcare Ltd (Zydus Cadila) and Bayer Healthcare on Friday announced an agreement to set up a joint venture company, Bayer Zydus Pharma (BZP), for the sales...

NEWS: Siemens net up a tad at Rs 244 cr; sales surge.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Mumbai, Jan. 28 - Siemens has posted a marginal rise in net profit at Rs 244 crore for the quarter ended December 31, 2010, compared with Rs 238 crore logged in the same period last year. However, sales...

NEWS: EID Parry Q3 net loss at Rs 37.2 cr.(Financial report)
January 29, 2011... from BUSINESS LINE, January 29, 2011 Chennai, Jan. 28 - E.I.D. Parry reported a net loss of Rs 37.2 crore on a turnover of Rs 252.35 crore for the quarter ended December 31, 2010. During the corresponding period in the previous year the...

CORPORATE: Bajaj revs up retail strategy for two new commuter bikes.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Mumbai, Jan. 28 - Bajaj Auto is preparing the retail base for the two new commuter motorcycles it will launch in the next six months. One of these will be a variant of Discover, whose 100cc and 150cc siblings...

CORPORATE: M&M enters last lap of SsangYong buyout.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Mumbai, Jan 28 - Mahindra & Mahindra has entered the last lap of its SsangYong Motor acquisition with an overwhelming majority of its creditors and shareholders approving the 'amended rehabilitation plan'...

CORPORATE: Mallika Srinivasan to head TAFE.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Chennai, Jan. 28 - Ms Mallika Srinivasan has taken over as Chairman of Tractors and Farm Equipment Ltd and TAFE Motors and Tractors Ltd, of the Amalgamations group. She succeeds her father A. Sivasailam,...

CORPORATE: Havells posts Rs 63-cr profit on good demand.(Financial report)
January 29, 2011... from BUSINESS LINE, January 29, 2011 New Delhi, Jan 28 - On the back of strong domestic demand, Havells India Ltd on Friday announced a Rs 63- crore net profit for the quarter ended December 31, 2010. In the corresponding quarter last year the...

CORPORATE: ONGC profit more than doubles on higher crude, natural gas prices.(Financial report)
January 29, 2011... from BUSINESS LINE, January 29, 2011 New Delhi, Jan 28 - Backed by higher crude oil and natural gas prices as well as a one-time settlement of past dues, ONGC has reported a 131.9 per cent jump in net profit for the third quarter of the current...

NEWS: Plan panel pitches for higher budgetary support.
January 29, 2011... from BUSINESS LINE, January 29, 2011 New Delhi, Jan. 28 - In the run-up to the Union Budget 2011-12, the Planning Commission has been haggling over higher gross budgetary support. It is the final year of the Eleventh Plan (200712) when...

NEWS: Vedanta University: Apex court orders status quo on land acquisition.
January 29, 2011... from BUSINESS LINE, January 29, 2011 New Delhi, Jan 28 - The Supreme Court on Friday asked the Orissa Government not to change the situation on the ground regarding land acquisition for setting up the Vedanta University in Puri. Admitting...

NEWS: Secretaries' panel to discuss Balco arbitration award.
January 29, 2011... from BUSINESS LINE, January 29, 2011 New Delhi, Jan. 28 - A Committee of Secretaries (CoS) will meet here on February 1 to take a call on the Balco arbitration award. In a 2:1 decision, a three-member arbitration panel had earlier this week...

NEWS: Working group for air cargo sector set up.
January 29, 2011... from BUSINESS LINE, January 29, 2011 New Delhi, Jan. 28 - A working group on air cargo/express service Industry under the Civil Aviation Economic Advisory Council has been set up in the Ministry of Civil Aviation. The move follows the...

NEWS: Gates stresses on need to focus on family planning.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Davos, Jan. 28 - Microsoft chief Mr Bill Gates believes that 'sustainable development' can have misleading implications, particularly for poor and undernourished populations. "It is not just to expect the...

BANKING/FINANCE: BoB to add 3,200 employees next financial year.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Mumbai, Jan. 28 - Bank of Baroda is planning to bolster its workforce by 3,200 in the next financial year. This is to meet the staffing requirements of its expanding branch network, to fill up vacancies...

BANKING/FINANCE: IOB net soars to Rs 232 cr.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Chennai, Jan 28 - Indian Overseas Bank has doubled its net profit to Rs 232 crore for the quarter ended December 31, 2010 compared with Rs 102 crore for the same period the previous year. The bank...

BANKING/FINANCE: 'Weather, farm insurance are not mutually exclusive'.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Hyderabad, Jan 28 - Weather insurance should be offered to farmers simultaneously along with other agriculture insurance schemes, according to Dr Abhijit Sen, Member, Planning Commission. In his keynote...

BANKING/FINANCE: Max New York 'warned' for non-payment of interest on claims.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Hyderabad, Jan. 28 - The Insurance Regulatory and Development Authority (IRDA) has "warned" Max New York Life Insurance Company Ltd on non-payment of interest for claims settled and repudiation/investigation...

BANKING/FINANCE: Forex reserves up $1.977 billion.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Mumbai, Jan. 28 - The country's foreign exchange reserves have gone up by $1.977 billion to $299.395 billion for the week ended January 21, according to the weekly statistical bulletin released by the Reserve...

BANKING/FINANCE: Growth in interest income lifts Bank of Baroda net 28%.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Mumbai, Jan. 28 - A substantial growth in net interest income and prudent management of liabilities helped Bank of Baroda increase its net profit by 28 per cent to Rs 1,069 crore for the quarter ended...

BANKING/FINANCE: Oriental Bank net up 41% in Q3 on better core operations.
January 29, 2011... from BUSINESS LINE, January 29, 2011 New Delhi, Jan. 28 - Aided by strong show on the core operations front, Oriental Bank of Commerce (OBC) on Friday reported a 41.05 per cent increase in net profit for the third quarter ended December 31,...

BANKING/FINANCE: IRDA relaxes solvency norms.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Hyderabad, Jan 28 - The solvency margin norms for general insurance companies offering health insurance schemes of the Government have been relaxed by Insurance Regulatory and Development Authority (IRDA). ...

BANKING/FINANCE: Credit growth moderates in fourth quarter: RBI.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Mumbai, Jan. 28 - Bank credit fell by Rs 43,327 crore to Rs 37,19,885.39 crore in the fortnight ended January 14, according to the scheduled banks' statement of position released by the RBI. Credit growth...

BANKING/FINANCE: Cholamandalam Finance's profits decline on provisioning for standard assets.(Financial report)
January 29, 2011... from BUSINESS LINE, January 29, 2011 Chennai, Jan. 28 - Thanks to a Rs 18-crore provision for standard assets, Cholamandalam Finance Company reported a lower net profit of Rs 6.6 crore for the quarter ended December, compared with Rs 7.5 crore...

NEWS: Ashok Soota plans new biz venture.
January 29, 2011... from BUSINESS LINE, January 29, 2011 Bangalore, Jan. 28 - Exactly a week after the twin exits of the joint CEOs of Wipro, the IT industry saw another departure on Friday with Mr Ashok Soota, Co-Founder and Executive Chairman of MindTree,...