business

Indian shares are likely to open negative

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Indian markets are likely to open negative, taking cues from global markets. Asian stocks extended losses on Tuesday, as US stocks slumped to a 12-year low, with investors growing increasingly nervous about the health of the global financial system. The rupee is expected to fall on Tuesday as steep falls in global stock markets raise … Read more Indian shares are likely to open negative

BHEL bags order worth Rs 3150 crore

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Bharat Heavy Electricals (BHEL) has bagged an order worth Rs 3150 crore from Madhya Pradesh Power Generating Company (MPPGCL). The order is for the main plant package at the upcoming Malwa Thermal Power Project (TPP) in Madhya Pradesh, involving two new-rating units of 600 megawatt each. The project is expected to significantly enhance the existing … Read more BHEL bags order worth Rs 3150 crore

Govt incurs Rs 2,500 cr telecom license fee loss

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The Department of Telecommunication (DoT) has probably incurred a loss of Rs 2,500 crore on account of violation of the terms and conditions of the telecom licenses held by private mobile operators. The main cause of concern was that DoT has slapped a milder penalty on erring private firms that offered services like push-to-talk and … Read more Govt incurs Rs 2,500 cr telecom license fee loss

FII net sellers of Rs 201 cr in cash market on Friday

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Foreign institutional investors (FIIs) were net sellers of Rs 201.17 crore (provisional) in the cash market on Friday, as per the information posted on the BSE website. While FIIs made gross purchases of Rs 956.27 crore, their gross sales amounted to Rs 1,157.44 crore. Domestic institutional investors (DIIs) were net buyers of Rs 167.18 crore … Read more FII net sellers of Rs 201 cr in cash market on Friday

Rising deficit – Is India’s debt sustainable?

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India’s consolidated fiscal deficit may increase to 10.3% of GDP in FY09 and 10% of GDP in FY10, according to our estimates, due to the cyclical downturn in tax revenues, election-related spending, and a large subsidy bill. The deficit will come down substantially over the next few years due to a structural increase in spending, … Read more Rising deficit – Is India’s debt sustainable?

Strike by RBI staff affects bond trading

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The one-day strike observed by more than 21,000 employees of the Reserve Bank of India (RBI) has disrupted trading in government bonds and other markets. Samir Ghosh, general secretary of the All India Reserve Bank of India Employees Association claimed that the strike was 100% successful with all employees taking leave, except for executive directors, … Read more Strike by RBI staff affects bond trading