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Spencer’s Retail, belonging to the RPG Group, is expected to report a net loss of around Rs 250 crore for the current fiscal. However, analysts state that the company will be in a position to reduce its losses in the next fiscal. As part of its austerity measures, the company has decided to shut stores … Read more Spencer’s Retail likely to post Rs 250 cr loss this fiscal
TI Cycles, a unit of Tube Investments of India promoted by the Murugappa Group, has launched a bicycle worth a whopping Rs 2 lakh. The cycle is 3 to 5 kilos lighter than existing cycles and each aspect of the cycle has been handcrafted and fitted with tubeless tyres equipped with cutting-edge technology in shock … Read more TI Cycles launches Rs 2 lakh worth bicycle
No this is not an April Fool’s Joke. But w.r.t RBI/2007-2008/260 DPSS No.1405 / 02.10.02 / 2007-2008, Based on the feed back a framework of service charges would be implemented by all banks as under: For use of own ATMs for any purpose – Free (in effect) For use of other bank ATMs for balance … Read more Any Bank – Any ATM card – Cash Widthdrawl for Free from April-1st
Management discussed the Avantha Power acquisition with analysts, presenting data points on its power projects that suggest valuation is reasonable. However, we are disappointed with the use of CG’s cash flows to fund a non-core promoter-owned business, as well as absence of early disclosure of the transaction. Poor Corporate Governance: In the past, management had … Read more Crompton Greaves – Avantha Power acquisition concerns
Private insurance major ICICI Prudential Life Insurance has entered into an agreement with public sector lending major – Punjab National Bank (PNB) – to facilitate premium payments through the bank. This is the first of its kind tie-up between a private sector insurer and a state-run bank. As per the deal, the customers of ICICI … Read more ICICI Prudential Life inks pact with PNB for premium payments
We expect business conditions for Indian banks to get tougher given decelerating credit demand, falling margins and worsening asset quality (NPAs to rise 3x over FY09-11). Among banks, we prefer ICICI Bank, Axis, PNB, BoB and UBI for their cautious asset growth, ample NPA coverage and sizeable CASA base. After deflation through most of FY10, … Read more Indian Banks Environment to turn tougher