Maruti Suzuki Profit Falls 18%, Lagging Behind Estimates, on Forex Losses Maruti Suzuki India Ltd., maker of half the cars sold in the country, unexpectedly reported a drop in fourth-quarter net income after currency-hedging losses masked gains from record automobile sales.
Commercial Banks in India Should Lower Rates, Central Bank's Mohan Says India’s commercial banks should lower their lending rates, following the example set by the central bank which cut borrowing costs to a record low this week, Deputy Governor Rakesh Mohan said.
Reliance Banks on Higher Gas, Refinery Output to Reverse Profit Decline Reliance Industries Ltd., India’s most valuable company, expects to revive earnings after two straight quarters of declining profit by starting output at the nation’s biggest gas field and ramping up a new refinery.
Sensex Index Reaches Six-Month High on BNP Paribas Estimate; ICICI Gains India’s benchmark stock index rose for a second day, climbing to a six-month high, after BNP Paribas said the gauge may rise another 10 percent because of a better outlook for corporate earnings.
Ranbaxy Laboratories Has First Quarter Group Loss of 7.61 Billion Rupees Ranbaxy Laboratories Ltd. reported a net loss of 7.61 billion rupees ($153 million) for the first quarter.
Sensitive Index May Advance by 10% on Earnings Outlook, BNP Paribas Says India’s benchmark Bombay Stock Exchange Sensitive Index may rise a further 10 percent to 12,300 with investors seeking to buy amid a “market correction” and the outlook for corporate earnings improving, BNP Paribas said.
Government Bonds Rise a Fourth Week as Surplus Cash at Banks Spurs Demand India’s 10-year bonds completed a fourth weekly gain, the longest winning streak this year, on speculation rising cash at banks and debt purchases by the central bank will boost demand for the securities.
New-Home Sales in U.S. Are Higher Than Forecast in Sign Market Stabilizing Purchases of new homes in the U.S. last month were higher than anticipated, providing further evidence the market may be stabilizing.
Stocks in U.S. Advance as Ford Motor, American Express Rally on Earnings U.S. stocks rose, paring losses in the market’s first weekly drop in almost two months, after companies from Ford Motor Co. to American Express Co. and Microsoft Corp. reported better-than-estimated results.
Ford's $1.8 Billion Loss Is Smaller Than Estimated as Cash Use Cut in Half Ford Motor Co., striving to remain the only U.S. automaker not on federal aid, posted a first- quarter loss that beat analysts’ estimates as it cut cash use by 49 percent. The shares soared to the highest since September.
Banks May Struggle to Raise Money After Stress Tests as Bad Assets Triple U.S. banks that get preliminary results today of U.S. government stress tests may struggle to raise money after bad assets at the biggest lenders almost tripled on average in the past year.
Deutsche Bank Said to Have Record Trading Revenue Exceeding $6.7 Billion Deutsche Bank AG, Germany’s biggest bank, may report record trading revenue at its securities division in the first quarter as credit markets stabilized.
Bank of America Preferred Conversion May Spur 80% Return, Jefferies Says Investors stand to gain more than 80 percent betting that Bank of America Corp. will convert some of its preferred shares into common stock, according to Jefferies Group Inc.
source: Bloomberg
