The Nifty dropped below the 5350 level following fall in European markets. France’s CAC, Germany’s DAX and Britain’s FTSE lost 0.4-0.8%. Capital goods, metals stocks, and heavyweights like Infosys and SBI weighed down the market. The BSE benchmark was down 82 points at 17,625 and the NSE benchmark fell 26 points to 5,335.35 amid choppy trade. Shares [...]
Toyota Motor Corp raised its full-year profit forecast by more than a third as it cuts costs, trims spending and expects Japanese government schemes to boost sales, though the guidance was still some way below analysts’ expectations. Japan’s No.1 automaker now expects operating profit – earnings from its core operations – for the year to [...]
Technology firm Mahindra Satyam has reported a much better than expected growth of 29.4% quarter-on-quarter in its consolidated net profit of Rs 308 crore in the October-December quarter of FY12. The company earned forex gain of Rs 66.3 crore in the quarter ended December FY12 as against Rs 33.7 crore in an earlier quarter. Consolidated revenues rose [...]
The market posted biggest ever monthly gains since September 2010, rising 11.5% led by highest monthly inflow of foreign money since November 2010. The Nifty closed tad below the 5200 mark while the Sensex rallied over 17000 level quite smartly. Factors that steered the January rally included sharp appreciation in rupee, value buying by institutional investors, rate cut hopes, [...]
Honda Motor Co slashed its annual profit guidance to the lowest level in three years as it counted the cost ofnatural disasters in Japan and Thailand and a strong yen. But it forecast a healthy rebound next year. Japan’s No.3 automaker was the slowest to recover from the supply chain disruptions after the Japanese earthquake and tsunami [...]
Halfway through January 2012, the government unexpectedly announced a change in the structure of gold’s import duties. In the midst of one of the coldest winters in India, we’re letting you in on how this new revision will affect your gold investments: Will it bring warmth to your gold holding? Or will you have to burrow [...]
January has turned out strong for equities with just two trading days to go. If you’re afraid to miss the ride, there’s still time to jump in. You just might want to wear a neck brace. The new year lured buyers into growth-related sectors, the ones that were more beaten down last year. The economy [...]
Asian stocks failed to make much headway Friday after disappointing Japanese corporate earnings and U.S. home sales — considered crucial to an economic recovery — were weaker than expected. Benchmark oil hovered below $100 per barrel while the dollar was lower against the euro and the yen. Japan’s Nikkei 225 index fell 0.3 percent to [...]
Caterpillar says its fourth-quarter profit jumped 60 percent, boosted by a steep increase in global demand. The world’s largest maker of construction and mining equipmentalso issued 2012 guidance above Wall Street predictions. U.S.-based Caterpillar reported net income of $1.55 billion, or $2.32 per share, up from $968 million, or $1.47 per share, in the same quarter last year. Sales and [...]
Japan reported its first annual trade deficit since 1980 as it imported expensive energy to offset shortfalls caused by the devastating tsunami and manufacturers shifted production overseas to avoid the damage inflicted by the strong yen. The 2.49 trillion yen ($32 billion) deficit for 2011 reflected a 2.7 percent decline in the value of Japan’s exports to 65.55 trillion yen [...]
