All the major oil marketing companies in India were forced to hike the prices of petrol by Rs.2.96 per liter w.e.f Tuesday midnight (15 Dec 2010), as we saw a surge in the crude oil price in last week. This will definitely create a pressure on the economy, as we may again see inflation surging ahead. ... [Continue Reading]
Listing of MOIL Shares Will be Done on 15 December 2010
India's largest Manganese ore producer, will list its share on India's leading stock exchanges on 15 December 2010. The initial public offering (IPO) received great response from all investors and was subscribed more than 56 times. The has fixed the issue price at higher end of the price band, at Rs.375. MOIL is one of the lowest cost producers of manganese ore in the world and also India’s ... [Continue Reading]
Indian Economy Grew at 8.9% in July-September 2010 Quarter (Q2)
The domestic equity markets settled higher today, tracking robust gross domestic product (GDP) data for the July-September 2010 quarter (Q2). The Indian economy expanded at 8.9% during Q2FY11 against the street expectations of around 8-8.5%. Though global cues were not very encouraging in trade today, but the markets managed to show smart recovery during the session after release of the GDP data. ... [Continue Reading]
RBI Hikes Interest Rates by 25 bps
Reserve Bank of India (RBI) hiked the repo and reverse repo rates by 25 basis points (BPS) each to 5.25% and 6.25%, respectively as they came inline with the market expectations. However, the Cash Reserve Ratio (CRR) has been kept steady at 6%. Market Outlook: The rates by RBI were as expected by the markets. Nifty and Sensex will be trading in a very narrow range today. However we are still ... [Continue Reading]
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