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Credit delivery in India is declining amidst slowing economic activity and uncertain outlook. Banks have also become extremely cautious as the proportion of non performing assets (NPAs) in total disbursement increases. During the last quarter of 2008, Indian banks lent a total of Rs 1,15,630 crore against Rs 1,30,000 crore lent during the September quarter, … Read more Credit delivery dips – Banks for Government Securities
North America’s biggest telephone equipment maker, Nortel Networks has filed for bankruptcy yesterday in anticipation to save a once high-flying business. The exact quantum of hazard could not be yet determined but it is expected to impact Indian information technology (IT) companies severely as Nortel was one of their key clients. Most of the biggies … Read more Nortel bankruptcy blow to Indian IT Industry
UTI Mutual Fund has declared dividend for the UTI Fixed Income Interval Fund-Series II Quarterly Interval Plan IV. The fund house will distribute 100% of the distributable surplus as on the record date that has been fixed as January 19,2009. UTI Fixed Income Interval Fund-Series II is an interval scheme with an objective to generate … Read more UTI + ING + Reliance Mutual Fund Updates
State-owned telecom operator, Bharat Sanchar Nigam (BSNL), has announced various special offers for its customers on the occasion of Makar Sankranti and New Year at Krishna district in Andhra Pradesh. The company will provide free dental health card and discounts on surgeries, crown clip and other dental procedures for every New landline, broadband and postpaid … Read more BSNL offers for customers in Krishna district, AP
Infosys Technologies (Infosys) held its conference call after it announced its third quarter results. S Gopalakrishnan, CEO and Managing Director, alongwith others addressed the call. Highlights of the call For the quarter ended December 2008, Infosys reported 7% growth in consolidated operating revenues at Rs 5786 crore. In US dollar terms the revenues de-grew 3.7%. … Read more Infosys Technologies – Pricing under Pressure – Renegotiating
CMC held a conference call to discuss third quarter financials for FY09 and future prospects. R. Ramanan, Managing Director, CMC and CEO and J. K. Gupta, CFO, CMC addressed the call. Highlights of the call For the quarter ended December 2008, on consolidated basis, on y-o-y basis, CMC reported 26% dip in income from operations … Read more CMC looks for Margin Expansion