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- RBI may hike rates again in April: Kotak The central bank is likely to raise the repo rate by another 100-125 bps and the cash reserve ratio by around 75-100 bps by the end of March 2011, Kotak Mahindra Bank said
- Asian Markets Lower Asian stock markets were mostly lower on Monday, weighed down by a surprise rate hike from the Reserve Bank of India. Australia fell 0.8%.
- Markets down 0.2%; hit by RBI rate hike At 9:01am, the 30-share BSE index was down 0.98% at 17,405.55 points, with 26 components declining
- Inflation to come down in 2 months: Montek RBI has to look at price trends, the underlying momentum in prices and not the annual rate of inflation, said Montek Singh Ahluwalia, deputy chairman, Planning Commission
- Overseas assets to be focus, says Chawla India’s manufacturing sector needs to “join the comity of nations whose manufacturing sector can take on the world”
- Bharti shares rise on Zain Africa deal hopes At its high on Monday, the stock was up 18% since 16 February, when it had fallen to its lowest level in nearly a year
- Asia stocks dip on Greece worries, euro eases Greece has said that it might have to turn to the International Monetary Fund for help
- Arrow Energy Sells Assets Arrow Energy agreed to sell the bulk of its Australian assets to Shell and PetroChina for about $3.15 billion.
- Singh pushes talks with Pakistan Prime Minister is set on resuming talks with the country’s neighbour as staying aloof would be counterproductive
- Dividends Take to Comeback Trail In the tumult of the last two years, dividends have been all but forgotten. Now they are starting to make a comeback. Companies are again increasing their payouts as corporate balance sheets become flush with cash.
- Interest-Rate Deals Sting Cities, States Cities and states are losing money on deals with Wall Street made in a different interest-rate environment, and now some are trying to escape the contracts.
- Fuel for Stock Rally: Bond Exodus Stocks could rally if all the money that's flowed into bonds cycles out.
- Six IPOs Set to Price in U.S. This week is shaping up to be the biggest—and perhaps brightest—for IPOs in the U.S. so far this year. Among the debuts: MaxLinear, Calix Networks and First Interstate BancSystem.
- Greenberg to Sell Some AIG Shares The former head of AIG agreed to sell up to 10 million shares in the struggling insurer to a UBS unit for $278 million in a deal designed to help him limit his exposure to volatility in AIG's share.
- Canada Inc. Girds for Dollar Parity Many Canadian businesses were pinched hard the last time the loonie was on par with the greenback. Now, as they near the 1-for-1 level again, the pinched are prepared.
- Four Seasons Maui on Ropes The Four Seasons Maui has gone delinquent on its $425 million of mortgages just as the Four Seasons New York and others have reached compromises with their lenders.
- Record South American Soybean Harvests Likely Fears of crop damage from too much rain are fading fast and being replaced with concerns about how bumper crops are going to strain the harvest, transport and storage capacity in Brazil, Argentina and Paraguay.
- China Warns Against U.S. Sanctions China's commerce minister cautioned the U.S. against citing the Chinese currency as a reason for imposing trade sanctions, as both nations intensify their verbal sparring on the yuan exchange rate.
- Preventive Medicine: Buying Health Stocks Before Overhaul The health-care bill has created angst in Congress, but some mutual-fund managers have been buying stocks they believe were pinched by the monthslong debate.
- Long-Term Treasurys Popular Longer-dated U.S. government debt is as popular as ever even at measly yields, despite this week's scheduled sales of $118 billion in Treasurys and the U.S.'s hefty fiscal commitments. Why? Inflation is dead.
- Greece's Woes Will Keep Euro Under Pressure The common currency faces more volatility and weakness as European Union leaders debate whether to offer a lifeline to debt-strapped Greece.
- Would inflation mar India’s growth story? In India’s case, the drought of 2009 queered the pitch further, even as it has had to face up to the firming of international commodity prices, particularly crude oil
- Investors may take rate hike in their stride Market investors had already been braced for an increase of up to 150 basis points
- Taking Stock for 19 March 2010 Shardul Kulkarni of Angel Broking considers any downward movement in ICICI Bank and Reliance Industries an opportunity to buy into those stocks
- Inflation trend to guide RBI’s annual policy Inflation declined from 17.81% in the last week of February, but still stood at 16.3% in the first week of March
- U.K Conservatives Want Bank Levy The leader of the U.K.'s opposition Conservative Party Saturday pledged to introduce a levy on banks if it wins a general election that must be held by June 3.
- All eyes on Berlin as Greece deadline looms The leaders of the 27 EU nations gather this week for a summit officially called to decide on a long-term strategy for competing with rival, emerging economies
- Only half the targets met for rural housing The Union govt gives 75% of scheme’s funds, yet less than 70% of the total available with the states have been used
- Ask Mint | On Investments You may send in your stocks and mutual funds related queries to askmint@livemint.com
- The impact of policy rate hike It’s only when banks start to borrow from the central bank that the higher repo rate will bite
- Higher cement prices boost the industry Cement prices are now higher by Rs30-80 per bag, compared with three months ago
- Gillette India to beat market’s growth rate In a bid to increase share and growth, Gillette introduced the Mach3 in November, priced at Rs125 or 60% lower than the Mach3 Turbo
- 3G licence bids: a reality check for telecom stocks in the offing While it was always evident that 3G will be a long-gestation project for telecom service providers, a higher-than-expected bidding amount will mean that earnings and returns will get diluted for a longer-than-expected period
- India to offer help on weather forecasting to Saarc countries A key objective of the conference in Pune is to help develop a Saarc monsoon model and the World Meteorological Organization has tasked India with taking the lead in the region
- Just seven states pay Rs100 under NREGA The UPA had fixed the daily wage of workers under the Mahatma Gandhi NREGA--which promises at least 100 days of work annually to one member of every rural household--at Rs100 in January 2009
- Will ISB-Mohali perk up Punjab’s fortunes? The campus is being seen as a formidable entrepreneurial magnet for small and medium enterprises
- Telecom stocks to be range-bound, earnings likely to remain subdued While the proposal to hike spectrum fee had been there for a long time now, it was earlier understood to be linked to 3G auctions
- Local funds sell shares to rescue PSU floats Domestic institutional investors have turned net sellers in equities in March for the first time since 2004
- News Notes If you have already bought a policy from Aetna, you can report to the insurance regulator at www.irdaindia.org
- Dai-ichi IPO Could Reach $17 Billion The retail tranche of Dai-ichi Mutual's IPO was oversubscribed as Japanese households jumped at the chance to buy a piece of one of the country's best-known insurers.
- India’s oil refining capacity to touch 256 mtpa by FY’12 The total refining capacity in the country at the end of 10th Plan was at 148.97 million tonnes and was projected to growth to 240.96 million tonnes by 2011-12
- Indian ADRs gain mere $350 mn last week Infosys Technologies, which led the gang of gainers among the Indian stocks, saw its market capitalization rising by $901 million to $34.64 billion
- India’s GDP to grow 8.3% in FY11: D&B The aggressive measures taken by the government to tackle the economic crisis has put the country on a strong recovery path, consultancy firm Dun & Bradstreet said
- Domestic supplies to SEZs to get duty rebates The duty rebate under Rule 18 of the Central Excise Rules, 2002, is admissible for supplies made from domestic market to SEZ, the CBEC said
- ‘Close co-op between financial regulators required globally’ The Bank for International Settlements has come out with a slew of recommendations to ensure that systemic risks are tackled properly, especially when complex financial firms fail
- Bernanke Assails Giant Firms Bernanke called for action on financial-services firms that are "too big to fail," describing the problem as "pernicious" and an "insidious" barrier to competition.
- Obama: Dodd's Financial Overhaul 'Essential' Obama used his weekly radio address to call for an overhaul of U.S. financial regulation, saying reform is needed to rein in bad practices and better protect consumers.
- RBI will ensure level playing field in banking sector: Govt Gopalan said fresh licences would not envisage the parties to set up localised banks, instead they have to operate with a pan-India focus across the country
- RBI will ensure level playing field in banking sector: Govt Gopalan said fresh licences would not envisage the parties to set up localised banks, instead they have to operate with a pan-India focus across the country
- 3M Helps End Dow's Streak Stocks fell, led by materials companies including AK Steel and energy companies such as Halliburton and Massey Energy, as commodities also fell in a bout of risk aversion.
- Blankfein's Pay in '09: $862,657 Goldman Sachs CEO Lloyd Blankfein received compensation valued at $862,657 last year, according to a regulatory filing.
- Greece, India Move Boost Dollar The dollar extended its rally as U.S. stocks fell into the red and mounting concerns about Greece's debt problems hurt demand for riskier assets.
- Commodities Get Hit By Growth Concerns Commodities sold off across the board as suddenly cautious investors abandoned gold, oil and other markets for the U.S. dollar after India raised key interest rates.
- Dimon's 2009 Total Pay: $1.3 Million J.P.Morgan CEO James Dimon received compensation valued at $1.3 million last year, the bank said in its proxy filing.
- Utah, Georgia Banks Closed Regulators took down seven more banks Friday with a combined $3.3 billion in assets, marking a total of 37 failures for 2010.
- Small Caps Slip as Risk Appetite Drops U.S. small-capitalization stocks fell as resurrected concerns over Greece's finances and a coming vote on health-care policy in Washington curbed investors' interest in riskier assets.
- Lehman Sought Help From GE Lehman Brothers CEO Dick Fuld reached out to General Electric for help twice in 2008, as his bank struggled to regain investors' confidence following the collapse of Bear Stearns.
- $1 bn soft loan from World Bank Of the $1.05 billion loan, the largest ever by the World Bank to fund education, $750 million has been earmarked for the bank’s third loan to Sarva Shiksha Abhiyan
- New projects: the best approach The market usually reacts negatively to announcements of new projects, but the reaction is positive if projects are announced within firms that have high levels of promoter shareholding
- Rapid Fire | Sentiment continues to remain cautious for PIPE deals Given that markets continue to be depressed below the highs seen in 2007, it is unlikely that PIPE investments in general would have recovered their cost
- Drug-resistant TB spreading, says WHO Almost half of those infected by strains that don’t respond are from India and China
- Shares post 6th straight weekly gain The Sensex closed 0.34% higher at 17,578.23;.17 of its components gained
- Asian shares up after US economic reports Helping confidence were US data showing inflation remains in check and manufacturing is growing
- Shares rise 0.2%, set for 6th weekly gain By 10:24am, the 30-share BSE Index was trading up 0.17%, or 30.22 points, at 17,549.74; the 50-share NSE index was up 0.1% at 5,252,45
- Battle hots up for CDSL takeover Largest stakeholder Bombay Stock Exchange wants to scuttle the depository’s plans to buy a Rs65 crore office
- The Week in Review for 19 March 2010 RBI hikes policy rates; telecom companies apply to be part of 3G spectrum auction; banks trail behind manufacturers in advance tax payments
- The Mint report for 18 March 2010 Telecom operators apply for 3G auction bids; food inflation eases even as fuel prices go up
- Strides in for huge cash outflows for oncology JVs With the buyout, Strides is leaning towards product development and production skills in the speciality space while Aspen is focusing on commercialization of products
- United Bank of India shares list at Rs68.75 The shares opened at a high Rs77 on BSE
- A good deal for Tata Teleservices TML has got a decent deal, with its towers being valued at Rs52 lakh per tower. The most recent deal, where GTL Infrastructure Ltd bought the towers of Aircel Ltd, was valued at Rs48 lakh a tower
- Swiss buy may strain HCC’s books HCC’s strategy, it appears, is to use KSAG’s skills. As the second largest firm in the Swiss real estate market, it has constructed at least 1,000 residential complexes and 540 offices, besides several hotels and infrastructure projects
- European shares turn positive; Adidas gains By 4:05pm, the pan-European FTSEurofirst 300 index of top shares was up 0.1% at 1,071.56 points, having touched a high at 1,071.94 points earlier
- Asia stocks near 2-month high, outlook positive Investors will be looking to US consumer inflation and jobless claims data later on Thursday for further clues on the health of the world’s largest economy
- Overweight positions in emerging markets decline The survey for March puts cash balances at 3.8%, lower than February’s 4% but well above January’s 3.4%
- Asia shares at 2-month high, yen sags on BOJ The MSCI index of Asian shares excluding Japan jumped 1.9% to its highest in two months, tracking US shares which hit a 17-month high
- Intel, global chip shares jump on talk of strong Q1 Intel’s share rally was accompanied by unusually high volume in the options market
- Asian shares firm, dollar holds ground before Fed The MSCI index of Asian shares excluding Japan rose 0.3% after retreating almost 1% on Monday and backing off a seven-week high last week
- Opec has little room to change production quotas Opec has left its members’ production quotas unchanged since December 2008, when it announced the last of a series of cuts aimed at bringing their output down by 4.2 mbpd
- European shares fall; China concerns hurt miners By 2:55pm, pan-European FTSEurofirst 300 index of top shares was down 0.5% at 1,054.10 points, retreating from a seven-week peak reached in the previous session
- Asian stocks fall after mixed US economic reports Investors found few reasons to buy after US economic data released Friday painted an uneven picture of recovery in the world’s largest economy
- Changing balance: South will have to produce for the South What are the Implications for Global Value Chains when the Market shifts from the North to the South? By Raphael Kaplinsky and Masuma Farooki; World Bank paper
- FTSE flat; weak oils, miners balance firm banks Oils, miners slip back on China tightening uncertainties; banks higher on hopes US reforms may be tempered; US retail sales data awaited
- Asia stocks head for 5th week of gains Japanese stocks again led the advance, with the Nikkei average rising as much as 1.1% to a seven-week high as investors welcomed the weaker yen
- World stocks down after Chinese inflation jump The markets are wary at the moment by concerns that the monetary authorities in China may start raising interest rates soon to keep a lid on mounting inflationary pressures
- European shares turn postive, utilities gain By 3:15pm, the pan-European FTSEurofirst 300 index was up 0.2% at 1,060.63 points after being down as low as 1,054.43 earlier
- Asia stocks dip on China tightening fears Chinese shares were 0.27% down as dealers digested the news, while Hong Kong dropped 0.43%
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