Business

It was completely lacklustre session for the equity benchmarks on Wednesday due to lack of local and global cues.

The RBI said that lowering policy rates now would only aggravate inflationary impulses without stimulating growth.

The company will announce it's decision to this effect only when it is assured of employee safety, an official spokesperson said.

Working on wafer thin margins amid stiff competition, many of the component suppliers are considering to reduce their workforce.

IT services EBIT too increased better than expected by 10.87 per cent QoQ to Rs 1,744 crore in the first quarter of FY13.

Profit before interest and taxes (PBIT) of the company jumped 30.2 per cent YoY to Rs 908.82 crore.

According to sources, the Income Tax department is eyeing the proceeds from the sale of non-core assets of the carrier.

The May figure compares with revised figures that showed an annual contraction of 0.9 per cent a month ago.

Infosys said it expects sales in FY13 to grow by 5 per cent to $7.34 billion, below its estimate of 8-10 per cent.

The reserve price is five times the base price of Rs 3,500 crore for 3G auction.

The investment bank said that Tata's Jaguar Land Rover's product cycle was entering a slow phase.

Jindal Steel & Power tumbled 2.5 per cent after the Odisha government has ordered stoppage of operations at Keonjhar mines.

Private power and steel producer Jindal Steel topped the buying list, rising 8.4 per cent.

In January, it won a Rs 11,200-crore tax battle after the Supreme Court ruled the company was not liable to pay any taxes under prevailing laws.

Lessors have taken back 34 aircrafts from KFA owing to non-payment of lease rentals of around Rs 1,000 crore.

Sources say no cut in excise is being considered yet and a cut if any will be in excise on petrol.