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Support for the index expected at 5,080
The Nifty witnessed selling at higher levels and closed in a Doji pattern, indicating indecisiveness among participants. The Sensex moved above the important trendline level of 17,290 but could not sustain it and closed at 17,170. The market is expected to be listless with mid-cap counters expected to outperform large-cap stocks. The support for the Nifty is expected at 5,080.

Sensex hits 22-month high; mid-, small-caps shine
It was a classic case of the davids of the world outpacing the goliaths. While the Sensex touched a 22-month high of 17338 in the earlier part of the week, only to turn sideways, the broader indices were the outperformers of the week. The mid-cap sector appreciated by 3.4% and the BSE small-cap space gained 4%.

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Birmingham to strengthen India links through CWG 2010
Realising the enormous business potentials of Commonwealth Games 2010 in Delhi, Birmingham City is keen to further the trade ties with India through the mega-sporting event.
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RCom Q3 net falls 19% to Rs 1,165 cr

Anil Ambani Group company Reliance Communications today said its consolidated net profit declined by 19.34 per cent to Rs 1,164.82 crore for the third quarter of 2009-10. - KVB net profit jumps 28% - JK Bank net profit rises 19% - City Union Bank net up 26.55% - Bank of Maharashtra net down 7% - Syndicate Bank net dips 42.6% to Rs 205.72 cr - Great Offshore Q3 net dips 14% to Rs 49 cr The company had a consolidated net profit of Rs 1,444.17 crore for the same quarter last fiscal. "As an integrated and converged telecommunications service provider, we are better placed to withstand the present highly competitive environment," RCom Chairman Anil Ambani said in a filing to the Bombay Stock Exchange. "Despite the sharp fall in tariffs, we have demonstrated stability in wireless revenues and margins and are confident to emerge even stronger in the future," he said. Consolidated net income from operations decreased to Rs 5,283.67 crore for the quarter under review from Rs 5,671.82 crore for the same period previous fiscal. The company said that it decided not to recognise any marked-to-market gains in respect of any outstanding derivative contracts related to loans, liabilities and assets expressed in foreign currency. However, the company provided for marked-to-market losses in respect of derivative contracts, as required by the Institute of Chartered Accountants of India, it said. "The company has not recognised a gain of Rs 19,524 lakh on mark-to-market valuation of derivative contracts outstanding as at the end of the quarter. "If the company had not made this change in the policy, net profit would have been higher by the amount of Rs 19,524 lakh for the quarter," it added.


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