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Markets in consolidation mode
It was a day of consolidation. The markets ended flat after trading in a narrow, albeit choppy range, as they attempted to digest the gains of the past two days. The Sensex closed below the dotted line at 17,169, down 28 points, and the Nifty ended at 5,123, up a point.

Daiichi Sankyo net income drops 45% in Apr-Sept
Japanese drug maker Daiichi Sankyo, which holds 64 per cent stake in Ranbaxy Laboratories, today reported a 45 per cent drop in net income for April-September this year.

News of the day

US initial unemployment claims slide to 550,000
In signs of easing labour market situation in the US, the number of first time claimants for jobless benefits declined by 26,000 to 550,000 for the week ended September 5.
Online Business

Bharat Forge June qtr net dips 96% to Rs 96 lakh

Auto component maker Bharat Forge today reported 96.38 per cent decline in its net profit at Rs 96 lakh for the quarter ended June 30, 2009, over the same period last year. - Rane Brake Lining Q1 net profit soars three fold - Maruti plans to roll into carbon credit trade - Analysts" corner - Bharat Forge: It"s part of life - Bharat Forge Q4 consolidated net down 68% - Chinese import surge on auto parts: Probe The company had a net profit of Rs 26.56 crore in the same period last year, the auto component maker said in a filing to the Bombay Stock Exchange(BSE). "The automotive industry in India has started showing early signs of recovery which is likely to strengthen in the coming quarters while the volumes in the US and European markets are starting to stabilise at lower levels," Bharat Forge CMD B N Kalyani said. Total net sales declined 43.71 per cent to Rs 358.64 crore in the latest quarter, against Rs 637.36 crore in the same period previous fiscal. Shares of Bharat Forge were trading at Rs 160 on the BSE, up 0.44 per cent from previous close.


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