MARKETS »

Bloodbath on Dalal Street; Sensex sinks over 700 points


All the sectoral indices received a battering, with banking, metal, oil and capital goods indices shedding a whopping 3%-4% each.

COMPANIES »

Cipla promoters to vest voting rights with Yusuf Hamied


Yusuf's nephew Kamil to inherit voting rights in future

ECONOMY AND POLICY »

HSBC sevices PMI falls for second straight month in April


Slow growth prompts services to shed jobs

FROM THE AUDITOR’S DESK »

CAG seeks clarity on RIL’s dollar margin


Says inadequacies led to loss of nearly Rs 12,000 cr in fertiliser subsidy over recent years

CURRENT AFFAIRS »

Post-verdict, Salman's 2015 releases in limbo


The future of Bajrangi Bhaijaan and Prem Ratan Dhan Paayo looks bleak

AROUND THE GLOBE »

US trade data points to Q1 contraction


Trade deficit jumped 43.1 per cent to $51.4 bn in March, the largest since October 2008

FINANCE »

Sebi notifies debt conversion norm for banks in distressed cos


Move will give bankers larger say in distressed firms by allowing them to acquire majority stake and take over management

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Columnists

Closing the infra gap
Ashok Lahiri

The developmental logic behind the new BRICS Bank is compelling

Build one India, brick
by brick

Subir Roy

The ghar wapsi-love jihad-church vandalising elements have to be told to cease and desist or face the strong arm of the law

Will Carson and Fiorina
disrupt GOP race?

Jonathan Bernstein

No one remotely like Ben Carson and Carly Fiorina has come close to winning a US presidential nomination in the modern era

McDonald's chief
promises turnaround in a
restructuring

Hiroko Tabuchi

Steve Easterbrook has promised to refashion McDonald’s into a modern, progressive burger and breakfast restaurant

BLOGS


How about a Babaji ki butti to cure the incurable?
Jyoti Mukul

If Ramdev weren't a Baba, but a mere salesman, what would he make of a medicine or a herb named Putrajeevak Beej?

Nepal quake and its lessons for disaster (un)preparedness

Despite loads of relief material and foreign rescue teams in Nepal, the state has failed to respond adequately in helping the victims

EDITORIAL COMMENT

A backward step

Why is India still on the US' IPR watch list?

Competition to the end

Behind Berkshire Hathaway's 50th anniversary

Financial X-ray

Frontline stocks & broader markets may crack further

High frequency indicators hit a low in March

SKS Microfinance: Good show likely to continue

A banking licence, if awarded, could be a key trigger

BOOK REVIEWS

Holding the family business together

Family companies have not received the deserved attention and have, in fact, been vilified for corporate nepotism and lack of professionalism

Essential reading on tomorrow's cities

The book contain a wealth of knowledge for those interested in details of what is happening in cities around the world

Robert Cyran

20-20 foresight
Robert Cyran


Cisco safely and slowly routes leadership change

Peter Thal Larsen

Battle of the bulge
Peter Thal Larsen


China's investment bank wannabes face long march

CompaniesRss icon

Cipla promoters to vest voting rights with Yusuf Hamied

Yusuf's nephew Kamil to inherit voting rights in future

Bloodbath on Dalal Street; Sensex sinks more than 700 points

All the sectoral indices received a battering, with banking, metal, oil and capital goods indices shedding a whopping 3%-4% each.

Bank Nifty falls 3%; ICICI Bank slips 5%

BOI,Federal Bank, Kotak Mahindra Bank, BOB, Yes Bank, Canara Bank and Axis Bank were down more than 3% each.


Colgate discontinues toothpowder manufacturing at Waluj plant

Move follows VRS accepted by firm's employees; Colgate says it has sufficient stocks and alternatives to meet market demand

Marico eyes 35% revenue from abroad

Expects to achieve this in the next few years as it eyes next leg of growth

Nivea commissions first Indian factory at Sanand

In phase-1, plant's annual capacity is just over 100 mn units, making creams, lotions, shower products and lip care


Bloodbath on Dalal Street; Sensex sinks more than 700 points

All the sectoral indices received a battering, with banking, metal, oil and capital goods indices shedding a whopping 3%-4% each.

Bank Nifty falls 3%; ICICI Bank slips 5%

BOI,Federal Bank, Kotak Mahindra Bank, BOB, Yes Bank, Canara Bank and Axis Bank were down more than 3% each.

State Bank of Bikaner & Jaipur's net up 18% in Q4 at Rs 280 cr

For fiscal ending March 31, 2015, the bank's net profit grew by 6% to Rs 777 cr y-o-y


India smartphone market shrinks 7% in Q1: CMR

Overall mobile handsets market, including feature phones, declined 15% to 53 mn units in Jan-March period

Bharti Airtel gains on talk MSCI to raise weightage to 2.6%

Bharti Airtel is likely to attract inflow worth Rs 20 crore in the counter

Airtel Zero violates net neutrality, says DoT secy

Says nobody forced telcos into licensed spectrum regime and they never objected to OTT ecosystem earlier


Cipla promoters to vest voting rights with Yusuf Hamied

Yusuf's nephew Kamil to inherit voting rights in future

FIIs dump more than Rs 9,000 crore of equities in nine sessions

At 1245 hours, the Sensex slipped 2.3% at 26,815; the index has fallen 3.8% or 1,075 points from 27,890 on April 22.

Sebi okays Cipla's voting rights proposal

The request for approval relates to a letter written by Hamied in October 2014 to Sebi


Pricol buys Johnson Controls' 50% stake in JV for $3.1 mn

Formed in 2012 to make instrument clusters, displays and body electronics for automakers, the JV is now wholly-owned by Pricol

Pricol acquires partner's shares in JV for $3.15 mn

The JV was announced in 2012 to manufacture auto components

Apollo Tyres to invest Rs 1,500 cr at Chennai unit

The company has already invested Rs 2,100 crore in the facility


NTPC plans to raise $1 billion through foreign currency bonds

The power producer envisages that the renewable energy will contribute 28% to its capacity of 1,28,000 MW by 2032

Sensex drops over 500 points; Nifty tests 8,150

There is selling pressure across sectors, with banking, metal and oil stocks doing the most damage.

MEP Infrastructure falls below issue price

Shares of MEP Infrastructure Developers were trading at Rs 56.70, 10% below its issue price of Rs 63, on the BSE.


Jet, Etihad alliance working, slowly

As partnership completes two years, Indian carrier is yet to achieve strong profit

Indian Hotels takes revival road under new CEO

The Tata company, which has not recorded any profit since 2012-13, is hoping to benefit from a slew of strategic measures over the next two

Of good and bad times

The cause and meaning of Vijay Mallya's likely exit


Bloodbath on Dalal Street; Sensex sinks more than 700 points

All the sectoral indices received a battering, with banking, metal, oil and capital goods indices shedding a whopping 3%-4% each.

Bhel commissions GVK's hydro-power project in Uttarakhand

The greenfield project consists of four units of 82.5 Mw each and is being set up by GVK's Alaknanda Hydro Power Corp

Sensex drops over 500 points; Nifty tests 8,150

There is selling pressure across sectors, with banking, metal and oil stocks doing the most damage.


Ashapura Intimates Fashion hits record high on fund buying

On May 4, DSP Blackrock Mutual Fund purchased 640,000 equity shares of Ashapura Intimates Fashion at Rs 214.95 per share on the BSE.

Future to merge retail biz with Bharti Retail

Share swap deal pegged at Rs 750 cr

Aditya Birla Nuvo: Right direction, more to follow?

The fashion retail restructuring would lead to a fall in holding company discount, which could go down further if value unlocking in the ...


Bloodbath on Dalal Street; Sensex sinks more than 700 points

All the sectoral indices received a battering, with banking, metal, oil and capital goods indices shedding a whopping 3%-4% each.

Today's picks- 5 May 2015

Nifty, Bank Nifty, Tata Steel, Mahindra & Mahindra & Coal India

Sensex ends 72 points lower

The 30-share Sensex provisionally ended 72 points lower at 27,418 and the 50-share Nifty closed 11 points lower at 8,321.


Eros International, Mandhana drop after court convicts Salman Khan

Eros International has global distribution rights for the actor's two maiden productions while Mandhana Ind has exclusive deal with Being Human ...

Enforcement Directorate seeks dismissal of Sun TV's petition

Highlights Supreme Court orders restricting any other courts from interfering in the related disputes

Sun TV, Kal Comm move HC against ED's attachment order

Court admits petition and asks Directorate of Enforcement to file a counter


Mid-cap. Small-cap indices decline 3%

Century Textiles, Strides Arcolab, Wockhardt, IRB Infra, Havells India and TVS Motor were down over 6% on the NSE.

Tube Investments hits record high as Q4 net more than doubles

The stock rallied 8% to Rs 404 on the BSE in early morning trade.

Rajashree Birla joins Century Textiles board

This comes in the backdrop of Aditya Birla group promoter companies increasing their stake in Century Textiles to around 50%


Technology Rss icon

Xiaomi Mi 4i: Impresses, with a little tut-tutting

Right size, top-notch features; camera, processor could've been better though

Beyond Business Rss icon

Don't sweat it

Yes, the temperature might be in the 40s. But a Flexi jacket can keep you looking cool

On a raw vegan diet

Uncooked, fresh and unprocessed - that's the diet a number of people are swearing by

Commodities

Commodity
Price(Rs)
Change
(%)

26892.00
+12
+0.04

3932.00
+75
+1.94

37852.00
-106
-0.28

414.20
-0.25
-0.06

176.10
-1
-0.56

FEATURES

In Depth Rss icon

After sports, Star bets on mobile TV with hotstar

With 16 million downloads, Star's mobile TV app is among the fastest growing digital services in the world. Can it prove to be a game changer?

Indian Hotels takes revival road under new CEO

The Tata company, which has not recorded any profit since 2012-13, is hoping to benefit from a slew of strategic measures over next two years

Start-ups

Troubles galore for Housing.com

The real-estate start-up has been in news for various reasons for the past one month

Brand World Rss icon

Ice cream players ready to beat the heat

While Amul plans expansion, Havmor launches 'leaner' range and others are focusing on candylines

Unilever says its socially responsible brands outperform rest

Says these brands accounted for half the company's growth in 2014