News & Announcements
Reliance Industries Wednesday surprised the market by saying that it would consider a share buyback plan at Friday’s board meet, besides announcing third quarter numbers. Given the prolonged underperformance in the stock and the huge cash chest at its disposal (USD 12.6 billion as on September 30, 2011), a share buyback seemed the most logical [...]
The US markets ended higher but off their best levels as weakness in financials offset earlier optimism following a handful of better-than-expected global economic news and a successful Spanish debt auction. The S&P 500 rose 5 points to finish at 1,293.67, briefly hitting the psychologically-important 1,300 level earlier in the session. Meanwhile, European markets hit [...]
The US markets were closed yesterday, therefore no key takeaways. However, in data to watch out for in the US today, empire state manufacturing index is expected to rise to 10.50 for January. European markets closed slightly higher in a choppy session, with weakness in banks after a mass credit downgrade of euro zone countries [...]
Asian shares fell on Monday on fears that mass sovereign debt rating cuts by Standard & Poor’s would further aggravate euro zone funding difficulties and drag down global growth, threatening to derail progress in resolving the debt crisis. Worries that European financial troubles would hurt the global economy and sap appetite for commodities weighed on [...]
US stocks finished lower on Friday in wake of a Standard & Poor’s decision to downgrade France, stripping the country of its coveted AAA rating. The agency downgraded other European countries as well but spared the larger Germany, which still carries a top-notch credit rating. The Dow Jones Industrial Average closed down 0.39%, while the [...]
The rupee closed higher on Thursday as foreign funds continued to invest in local debt, though weak domestic shares and dollar demand from oil importers put a lid on gains. The Reserve Bank of India (RBI) probably sold dollars around the 51.74 rupee level in late trading, which further supported the currency, traders said. The [...]
The US markets ended near session highs, but still closed narrowly mixed, as worries over the Eurozone and declines in the energy sector limited gains. On economic data front, US economy expanded at a moderate pace in late November and December as consumer spending picked up, according to the Federal Reserve’s latest beige book report. [...]
L&T Infrastructure Finance Company is issuing tranche 2 bonds through a public issue of long term infrastructure bonds with a face value of Rs 1,000 each in the nature of secured, redeemable, non-convertible debentures having benefits under Section 80CCF of the Income Tax Act, 1961, for an aggregate amount up to Rs 300 crore with [...]
The US markets squeezed out small gains, adding to the previous week’s robust rally, as investors turned their focus to fourth-quarter earnings season and as Merkel and Sarkozy discuss their rescue plan. Dow Jones Industrial Average added 0.27% or 32.77 points at 12392.69. Nasdaq Composite rose 0.09% or 2.34 points at 2676.56. Standard & Poor’s [...]
The euro sank against the dollar and the yen and Asian stocks stalled on Monday, as renewed gloom about the fallout from the European sovereign debt crisis overshadowed signs of vigour in the US economy. Data on Friday showed that while US employment growth accelerated last month, euro zone retail sales fell and economic sentiment [...]
