RBI Unlikely To Cut Key Rates; Rupee Hits 10-Week High At 50.09/$; RBI Warns Of Persistent Inflation, Weak Growth

Monday, Jan 23, 2012

RBI UNLIKELY TO CUT REPO RATE: CNBC-TV18 POLL  
Ahead of the Reserve Bank of India announcing its credit policy review on Tuesday, a CNBC-TV18 poll shows that 95% of the respondents expect Repo Rate to remain unchanged, while 50% expects the Central Bank to leave Cash Reserve Ratio unchanged at 6%. read more  
RBI WARNS ON PERSISTENT INFLATION RISKS  
The Reserve Bank of India said the growth outlook and business climate have weakened but also warned of upward risks to inflation, a day before it is widely expected to keep policy interest rates on hold. read more  
LEAD STORIES
SENSEX ENDS FLAT AHEAD OF RBI MEET, UP 13 PTS  
Markets ended flat ahead of RBI Credit policy. Sensex closed 16,751.73 points. Nifty ended 5,046.25 down 2.35 points. read more
RUPEE HITS 10-WEEK HIGH, GAINS 23 PAISE AT 50.09/$  
The rupee rose on Monday to hit its highest level in 10 weeks aided by dollar flows. The rupee ended 50.09/10 to the dollar. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 16751.73 +12.72
NSE 5046.25 -2.35
TURNOVER
Rs. 124,046 cr
BSE CASH
Rs. 2,125 cr
NSE CASH
Rs. 10,124 cr
NSE F&O
Rs. 111,796 cr
BULLION
GOLD 27421 -69
SILVER 55357 -191
CRUDE
NYMEX 98.89 +0.56
BRENT 110.75 +0.89
FOREX
$ / Re 50.09 -0.23
£ / Re 77.734 -0.35
€ / Re 65.052 +0.43
EVENTS TO WATCH

24 January
RBI Credit Policy
Telecom Minister Kapil Sibal To Meet CEOs Of Telecom Companies


27 -28 January
National Summit on Recent Trends in Compensation And Rewards, Organized By AIMA


25-29 January
World Economic Forum Annual Meeting 2012, Davos, Switzerland


31 January
Finance Minister Pranab Mukherjee To Meet Industrialists

EXPERT VIEWS

(In a letter to PM) "You are 80 years old now. The country has given you everything. Now people are asking something in return. Show some courage...to bring Lokpal to fight corruption. We don't know whether [the ruling] Congress [party] will give you another chance as prime minister but if you do this, the country will always remember you."

Anna Hazare
Anti-Corruption Crusader
"...the future is what we make of it. Nothing is ordained or pre-determined. India can rise, but India can also falter. We can either become victims of negativism, criticising ourselves all the way, or work together to put ourselves firmly in the group of rising economies. Both optimism and pessimism have an infectious quality."

Manmohan Singh
Prime Minister
"The longer we wait, the worse it will get. The only solution is to move forward together. We must all understand that this is a defining moment. It is not about saving any one country or region. It is about saving the world from a downward economic spiral."

Christine Lagarde
MD, IMF

WATCH OUT  
Credit Policy  
While inflation has climbed down from the 9% mark, the prices of industrial goods are still rising. Does the RBI have room to cut rates? And if it doesn't, will growth slip below 7%? Join Latha Venkatesh as she gets you the RBI Credit Policy straight from the RBI Headquarters, with instant analysis from a galaxy of economists, bankers, market experts & CEOs. Find out how it will impact your job, your EMIs, savings and your lifestyle.
SHOW TIMINGS
Tom 11am Onwards
IBU Mobile version India Business Update

Maruti Suzuki Q3 profit slumps 64% at Rs 205.6 crore


Dated:January 23,2012


RBI is likely to keep policy rates unchanged in the third quarterly review of monetary policy tomorrow, even as inflation and economic growth rate have eased.

Maruti Suzuki reported a bigger-than-expected 63.6% fall in quarterly net profit as high interest rates and rising fuel costs hit demand for cars.

The two men are stepping aside after disappointing investors and leaving customers wondering whether RIM still has the ability to compete.

Market Round-up
SENSEX 16751.73 12.72
NIFTY 5046.25 -2.35
NASDAQ 2141.54 17.78
DJIA 10060.06 19.61
RS/$ 46.79 -0.14

NSE Gainers
Scrip Price(Rs.) %Change
Mahindra Forgings Ltd. 64.20 + 17.69
Goenka Diamond & Jewels L 51.65 + 16.07
PTC India Financial Servi 12.90 + 15.70
Sarda Energy & Minerals L 122.85 + 15.51
Geometric Ltd. 65.75 + 12.01

NSE Losers
Scrip Price(Rs.) %Change
Shree Precoated Steels Lt 4.25 -9.57
Software Technology Group 3.55 -8.97
Empee Distilleries Ltd. 61.50 -8.69
Pudumjee Industries Ltd. 15.35 -8.63
Vinyl Chemicals (I) Ltd. 10.70 -8.55

Most Read Story
Blackburn Rovers may have given Venky's a global brand exposure, but the string of controversies has cast the company in unusually negative light.

Most E-mailed Story
A reason behind this success is a three-letter word - IIT. Many of the stars at management schools in the US come from the Indian Institutes of Technology


Most Commented Story
Chetan Bhagat today said the Booker Prize winner was a hero to him as well but not for "attacking God" and religious sentiments in India have to be respected.


Latest Updates



Sensex ends above 16700; banks, power, oil & gas up


Dated:20 January,2012
Banks, power and oil & gas stocks led the up move while FMCG and metals stocks led the losers pack.

The 50-share Nifty index has started the year on a strong note and has gained over 9% so far in 2012 on the back of positive global cues from US & Europe.

Reliance Industries said it will buy back up to 120 million equity shares from the open market at a maximum price of Rs 870 each.

Market Round-up
SENSEX 16739.01 95.27
NIFTY 5048.60 30.20
NASDAQ 2141.54 17.78
DJIA 10060.06 19.61
RS/$ 46.79 -0.14

NSE Gainers
Scrip Price(Rs.) %Change
Times Guaranty Ltd. 37.10 + 57.20
Jindal Worldwide Ltd. 107.20 + 18.78
Filatex India Ltd. 34.95 + 17.68
Karur KCP Packkagings Ltd 25.50 + 16.97
JMT Auto Ltd. 61.60 + 15.79

NSE Losers
Scrip Price(Rs.) %Change
Koutons Retail India Ltd. 17.15 -11.60
Refex Refrigerants Ltd. 7.85 -9.77
Asian Granito India Ltd. 39.70 -8.84
Euro Ceramics Ltd. 10.50 -8.70
Balaji Telefilms Ltd. 38.40 -8.24


Views on Stocks/Markets

IPO/Global Markets

Rupee / Gold

More 'Market' News




OVL-GAIL eyes UK company in $1 billion deal


Dated:January 14,2012


The Kanorias of Srei Group will float a $1.5-billion global fund in Singapore to invest in infrastructure projects in India, South East Asia and Middle East.

OVL has teamed up with GAIL India to place a joint bid to acquire UK-based energy firm Cove Energy Plc, a deal valued over $1.2 billion or Rs 6,000 crore.

Entrepreneurs from the US, Europe and Asia Pacific are making a beeline to tap India's clean technology sector, especially the solar power industry.

Market Round-up
SENSEX 16154.62 117.11
NIFTY 4866.00 34.75
NASDAQ 2141.54 17.78
DJIA 10060.06 19.61
RS/$ 46.79 -0.14

NSE Gainers
Scrip Price(Rs.) %Change
Alembic Ltd. 19.20 + 20.00
Himachal Futuristic Commu 13.60 + 19.29
Rama Newsprint and Papers 11.30 + 18.94
Servalakshmi Paper Ltd. 5.80 + 18.36
Thomas Cook (India) Ltd. 37.75 + 15.79

NSE Losers
Scrip Price(Rs.) %Change
Everonn Education Ltd. 283.85 -19.99
Gufic BioSciences Ltd. 5.40 -9.24
Sezal Glass Ltd. 13.60 -9.03
SRHHL Industries Ltd. 3.85 -8.33
Oriental Trimex Ltd. 6.85 -8.05

Most Read Story
The question everyone is asking is how did this Tamil-English number capture the imagination of all of India? An IIM has even organised a seminar on it.

Most E-mailed Story
The question everyone is asking is how did this Tamil-English number capture the imagination of all of India? An IIM has even organised a seminar on it.


Most Commented Story
The Government told a Delhi court there is sufficient material to proceed against the 21 social networking sites which included Yahoo and Microsoft.


Latest Updates



Sensex Posts Highest Weekly Gain At 117 Pts; Govt Sanctions Prosecution Of Social Network Sites; RBI Issues Compensation Norms For Bank Directors

Friday, Jan 13, 2012

LEAD STORIES
GOVT SANCTIONS PROSECUTION OF GOOGLE, FACEBOOK  
Govt says there is sufficient material to proceed against 21 social networking including Microsoft & Yahoo India over content regulation. read more
SENSEX POSTS HIGHEST WEEKLY GAIN AT 117 PTS  
Markets closed high on hopes of renewed policy reforms by the govt & easing inflation. Sensex closed 16,154.62. Nifty ended 4,866 up 34.75 points. read more
RBI ISSUES COMPENSATION NORMS FOR BANK DIRECTORS  
The Reserve Bank Of India has come out with a set of guidelines relating to compensation norms for banks directors and CEOs. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 16154.6 +117.1
NSE 4866 +34.75
TURNOVER
Rs. 127,058 cr
BSE CASH
Rs. 2,682 cr
NSE CASH
Rs. 12,039 cr
NSE F&O
Rs. 112,336 cr
BULLION
GOLD 27503 -162
SILVER 52106 -664
CRUDE
NYMEX 98.32 -0.78
BRENT 110.34 -0.92
FOREX
$ / Re 51.54 -0.07
£ / Re 78.734 -0.27
€ / Re 65.316 -0.73
EVENTS TO WATCH

14 January
9th Nani Palkhivala Memorial Lecture On "The Tails Side Of Judicial Independence - The Judicial Accountability Coin", Speaker SH Kapadia, Chief Justice Of India, 11 AM, NCPA, Mumbai


16 January
FM Pranab Mukherjee To Meet Trade Union Leaders


17 January
Finance Minister Pranab Mukherjee To Meet Social Sector Related Groups
Conference On Mega Trends 2020, "Shaping India's Future" Organized By FICCI Young Leaders, FICCI Auditorium, New Delhi

EXPERT VIEWS

"From a long-term perspective, we continue to have a positive outlook on emerging economies. We believe that emerging stock markets could be much larger than they are today, and over the long term, their combined value could potentially exceed the combined value of the U.S., Japanese and European equity markets."

Mark Mobius
ED, Templeton Emerging Markets Group
"The IT industry is operating in a much tougher environment than it was, because when you combine the difficult days in the U.S. & Europe, it's a double whammy as these are two major economies which we have been traditionally exporting significantly and the fact that the economy has not been improving as fast as people would have liked has made the corporate leaders even more wary of spending on capex."

NR Narayana Murthy
Chairman Emeritus, Infosys
"When we began our Budget exercise in January 2010, we thought we will grow by 9% [2011-12]. But oil prices went up from $90 to $110 and not really coming down the way we were expecting. A bit of this to my mind is to do with major change in global scenario...What is happening in the world you get one crisis after another. 2008 and now we are standing on the brink of another one 2012."

Kaushik Basu
Chief Economic Adviser

WATCH OUT  
Beautiful People with Kiran Bedi  
Is it end game for team Anna? Where does the IAC go from here? Kiran Bedi tries to answer some of these questions this week on Beautiful People.
SHOW TIMINGS
Sat: 9 pm
Sun: 1:30pm & 8:30pm
Mon: 6:30pm
IBU Mobile version India Business Update