Stocks in India Climb for Second Day; ICICI, Reliance Communications Lead India's benchmark stock index gained for a second day to the highest in a week, on optimism any government measure to lower fuel prices and unveil a stimulus package will boost a slowing economy.
JSW Steel Says Profit Margins Will Shrink as Prices Slump, Demand Declines JSW Steel Ltd., India’s third-largest producer, said profit margins will shrink in the financial third quarter as the global recession cuts demand and prices.
Satyam Computer Chairman Raju Writes to Employees After Directors Resign Satyam Computer Services Ltd.’s Chairman Ramalinga Raju wrote to the company’s employees as the software provider struggles to regain investor confidence after four directors quit following a botched acquisition.
Reliance Communications Starts Offering Nationwide GSM Wireless Services Reliance Communications Ltd., India’s second-largest mobile-phone company, started nationwide wireless services based on the global system for mobile communications, or GSM, to gain customers.
Indian Orders Help China's Power-Plant Builders Grow Abroad as Home Slows China won contracts to design coal- fired power plants in India, Asia's third-biggest economy, as slowing domestic orders prompt companies to expand overseas.
Bond Yields at Lowest Since June 2004 on Speculation India Will Cut Rates India’s 10-year bonds gained for a second day, pushing yields to the lowest since June 2004, on speculation easing inflation will allow the central bank to further cut interest rates.
Most Asian Stocks Rise, Led by Energy Shares on Oil; BHP Billiton Advances Most Asian stocks rose, as energy companies’ gains on higher oil prices offset concerns that increased fuel costs will drag on corporate earnings.
Rupee Weakens on Speculation Importers Buying Dollars, Funds Cut Holdings India’s rupee weakened on speculation some refiners bought dollars to settle month-end import bills as conflict in the Gaza Strip escalates.
source: Bloomberg
