India Stocks to Rally as Singh's Victory Lures Capital, HSBC's Duggal Says Sanjiv Duggal, who manages the world’s largest India fund, said investors should buy the nation’s stocks as Prime Minister Manmohan Singh’s re-election allows him to push asset sales and ease investment rules.
India Sets Rules for Overseas Companies Seeking to Tap Local Stock Markets Overseas companies selling Indian Depositary Receipts must repatriate the money from the country immediately, the Indian central bank said, setting rules for foreign companies seeking to tap the nation’s stock markets.
Wipro First-Quarter Net Exceeds Analysts' Estimates on Orders, Cost Cuts Wipro Ltd., India’s third-largest software exporter, reported profit that exceeded analyst estimates after the company won more orders and froze pay.
Boeing Says India Growth Potential `Greatest' in World, Maintains Forecast Boeing Co., the world’s second- biggest commercial planemaker, said potential for air travel growth in India is “greatest” in the world and maintained its 20-year sales outlook for the South Asian nation.
Stocks in India Fall; ICICI Bank, Housing Development Finance Lead Decline Indian stocks fell for a second day, erasing earlier gains, as investors judged recent rallies as excessive. Housing Development Finance Corp. led financial companies lower after reporting earnings below analyst estimates.
Rupee Drops From Near Two-Week High on Speculation Importers Buying Dollar India’s rupee fell for a second day, reversing earlier gains, on speculation some importers bought foreign exchange to pay bills.
Bharat Heavy Profit Misses Analysts' Estimates on Higher Inventory Costs Bharat Heavy Electricals Ltd., India’s biggest power-equipment maker, posted a lower-than estimated 23 percent increase in first-quarter profit after using raw materials purchased at higher prices last year.
India Government May Allow State Bank to Sell Stock With Stake-Rule Change India may allow State Bank of India to sell new shares by amending a law that caps the government’s shareholding in the nation’s biggest lender, according to a finance ministry official.
Goldman Sachs Pays $1.1 Billion to Settle U.S. Government's TARP Warrants Goldman Sachs Group Inc. agreed to the U.S. Treasury’s request for $1.1 billion to redeem warrants the government received when it invested in the firm, which reported record second-quarter profit last week.
Bernanke Says Commercial Property `Difficult' Challenge, Offers No New Aid Federal Reserve Chairman Ben S. Bernanke said a potential wave of defaults in commercial real estate may present a “difficult” challenge for the economy, without committing to additional steps to aid the market.
U.S. Stocks Fluctuate as Exxon, Conoco Shares Decline, Starbucks Rallies U.S. stocks fluctuated as a drop in oil prices led energy producers lower, while consumer and technology shares advanced on better-than-estimated results at Starbucks Corp. and Apple Inc.
Morgan Stanley Sets Aside 72% of Second-Quarter Revenue for Employee Pay Morgan Stanley set aside 72 percent of its second-quarter revenue for compensation and benefits, more than Goldman Sachs Group Inc. or JPMorgan Chase & Co., amid a “war for talent” with rivals that generate more money.
China Has Room for Further Stimulus, IMF Says in Contrast With World Bank China, the world’s fastest-growing major economy, still has scope for more fiscal stimulus to cope with rising unemployment, according to the International Monetary Fund.
BlackRock's Spodek Says Buy Treasuries With Fed Expected to Remain on Hold BlackRock Inc., the biggest publicly traded U.S. money manager, recommends buying Treasuries maturing in two to five years on expectations the Federal Reserve won’t raise interest rates this year.
Exelon Quixotic Quest for Takeovers Likely Undeterred After Failed NRG Bid Exelon Corp., the largest U.S. nuclear power producer, may not wait long to find a new takeover target after dropping a $7.53 billion hostile bid for NRG Energy Inc., its third scuttled acquisition in six years.
source: Bloomberg
