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May 9: Car sales drive 14% high

  • May 9: Car sales drive 14% high

    May 9: Car sales drive 14% high

  • <p>Workers arrange consumable goods as a customer (back) shops at a grocery store in Lucknow</p><p><b>Hindustan Unilever, a unit of Anglo-Dutch Unilever, posted a 2% fall in quarterly profit partly hurt by rising input costs, but beat forecasts.</b></p><p>India&#39;s largest household products and consumer goods maker, on Monday posted net profit of Rs  569 crore for the fourth quarter ended March, slightly down from Rs 581 crore a year ago.</p><p>

    Workers arrange consumable goods as a customer (back) shops at a grocery store in Lucknow

    Hindustan Unilever, a unit of Anglo-Dutch Unilever, posted a 2% fall in quarterly profit partly hurt by rising input costs, but beat forecasts.

    India's largest household products and consumer goods maker, on Monday posted net profit of Rs 569 crore for the fourth quarter ended March, slightly down from Rs 581 crore a year ago.

  • <p>Researchers work at a lab in Bombay in August</p><p><b>Jyothy Laboratories makes open offer for 20% stake in Henkel India at Rs 41.2 a share.</b></p><p>Says, to buy 23.29 million shares via open offer for Rs 95.97 crore.</p><p>Jyothy Labs said on May 6, it had agreed to buy 51% of Henkel AG&#39;s Indian arm for Rs 570 crore including debt for Rs 20 a share.
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    Researchers work at a lab in Bombay in August

    Jyothy Laboratories makes open offer for 20% stake in Henkel India at Rs 41.2 a share.

    Says, to buy 23.29 million shares via open offer for Rs 95.97 crore.

    Jyothy Labs said on May 6, it had agreed to buy 51% of Henkel AG's Indian arm for Rs 570 crore including debt for Rs 20 a share.

  • Reserve Bank of India&#39;s governor Duvvuri Subbarao smiles during a news conference in Mumbai</p><p><b>The Reserve Bank of India (RBI), which had raised rates by a hefty 50 bps last week, will not be able to deliver an inflation target in the short term because price pressures are mostly supply-driven, its governor said.</b></p><p>"Inflation targeting is neither feasible nor advisable in India, and for several reasons," Duvvuri Subbarao said in a speech to the Central Bank Governance Group in Basel.</p><p>"First, in an emerging economy like ours, it is not practical for the central bank to focus exclusively on inflation oblivious of the larger development context."</p><p>He said monetary policy transmission in India has been improving but it is still a fair bit away from best practice.</p>

    Reserve Bank of India's governor Duvvuri Subbarao smiles during a news conference in Mumbai

    The Reserve Bank of India (RBI), which had raised rates by a hefty 50 bps last week, will not be able to deliver an inflation target in the short term because price pressures are mostly supply-driven, its governor said.

    "Inflation targeting is neither feasible nor advisable in India, and for several reasons," Duvvuri Subbarao said in a speech to the Central Bank Governance Group in Basel.

    "First, in an emerging economy like ours, it is not practical for the central bank to focus exclusively on inflation oblivious of the larger development context."

    He said monetary policy transmission in India has been improving but it is still a fair bit away from best practice.

  • Fifteen-year-old Saira (C) cuts shirt threads inside a garment factory in Mumbai 
<p><b>Shares in lender SKS Microfinance plummeted as much as 16% to an all-time low on Monday after the company swung to a big quarterly loss and analysts forecast a gloomy outlook for the sector.</b></p><p>India&#39;s once-thriving microfinance sector has been reeling since Andhra Pradesh, which was its largest market, clamped down on business practices such as high interest rates and aggressive loan recovery practices last October.</p><SKS shares, which had plunged 20% on Friday after JPMorgan slashed its target price to Rs 200 from Rs 550, dropped as much as 16% on Monday to Rs 277.75.The slump has knocked off 81.2% of the market value from the stock&#39;s peak of Rs 1,491.50 in September.</p>

    Fifteen-year-old Saira (C) cuts shirt threads inside a garment factory in Mumbai

    Shares in lender SKS Microfinance plummeted as much as 16% to an all-time low on Monday after the company swung to a big quarterly loss and analysts forecast a gloomy outlook for the sector.

    India's once-thriving microfinance sector has been reeling since Andhra Pradesh, which was its largest market, clamped down on business practices such as high interest rates and aggressive loan recovery practices last October.

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