State Bank of India First-Quarter Profit Beats Estimates on Trading Gains State Bank of India, the nation’s largest, said first-quarter profit rose 42 percent, exceeding analysts’ estimates, after it posted gains from trading and reversed previous investment losses.
India's Wettest Month to Get More Rain Than Forecast, Aiding Crop Health India received more rainfall this month than forecast by the weather bureau, helping ease a dry spell that’s affected sowing of crops in the world’s second- biggest producer of rice, wheat and sugar.
Sensitive Index Has First Gain in Four Days; State Bank Rises on Earnings Indian stocks rose for the first time in four days. State Bank of India Ltd. led banking stocks higher after first-quarter earnings beat estimates. Tata Consultancy Services Ltd. paced advances by software exporters.
Steel Authority of India First-Quarter Profit Declines on Falling Prices Steel Authority of India Ltd., the nation’s second-biggest steelmaker, reported a drop in profit for the third straight quarter because of lower prices.
Mahindra First-Quarter Profit More Than Doubles, Tops Estimates, on Sales Mahindra & Mahindra Ltd., India’s largest maker of sport-utility vehicles and tractors, said first-quarter profit more than doubled after it boosted sales and raw material prices eased.
Indian Oil Profit Surges, Beating Estimates, as Crude Oil Prices Decline Indian Oil Corp., the nation’s largest refiner, said profit surged, beating estimates, helped by narrowing revenue losses from selling fuels below cost and stockpile gains. The shares rose the most in two months.
Inflation in India Falls for Seventh Week Before Expected `Creeping' Gain India’s wholesale prices fell for a seventh straight week, ahead of an expected “creep up” in the inflation rate later this year that may force the central bank to raise borrowing costs.
Ten-Year Bonds Decline Before India Auctions $2.5 Billion of Debt Tomorrow Indian bonds fell for a second day before a debt auction tomorrow, amid concern the government’s plans to raise a record 4.51 trillion rupees ($93 trillion) from sales this financial year will drive up borrowing costs.
Anil Ambani Says There's No Question of Renegotiating Gas Supply Agreement Indian billionaire Anil Ambani, whose company Reliance Natural Resources Ltd. is caught in a legal dispute over gas supply with his elder brother’s company, Reliance Industries Ltd., comments on the case. The brothers split the Reliance group in 2005.
Stocks in U.S. Advance on Earnings, Unemployment Data; Motorola, GE Gain U.S. stocks rallied, pushing the Standard & Poor’s 500 Index to the highest level in almost nine months, as companies from Motorola Inc. to MasterCard Inc. posted better-than-estimated results and jobless claims held below June levels.
Initial Jobless Claims in U.S. Increase; Total Rolls Unexpectedly Decline The number of Americans filing claims for jobless benefits last week held below levels seen in late June, before auto-related distortions set in, indicating firings are slowing as the economy stabilizes.
Citigroup Sells Nikko Asset Management to Sumitomo Two Years After Merger Citigroup Inc. agreed to sell its Japanese asset management unit to Sumitomo Trust & Banking Co., Japan’s fifth-largest bank, for 75.6 billion yen ($795 million), as the bank divests assets to pay back the U.S. government.
Motorola Climbs After Quarterly Loss Is Narrower Than Analysts Predicted Motorola Inc., the biggest U.S. mobile-phone maker, jumped the most in nine months after posting a narrower second-quarter loss than analysts projected, helped by job cuts and a recovery in handset shipments.
Yahoo's Bartz Gets `Vote of No Confidence' as Microsoft Deal Sinks Shares The honeymoon is over for Yahoo! Inc. Chief Executive Officer Carol Bartz.
Fannie Mae, Freddie Mac Won't Be Able to Repay All U.S. Aid, Lockhart Says Fannie Mae and Freddie Mac, the largest U.S. mortgage-finance companies, won’t be able to repay all of the $84.9 billion in federal aid they have received since being seized by the government last year, their regulator said.
American Superconductor Soars as Maker of Wind-Energy Parts Reports Profit American Superconductor Corp., a maker of wind energy components and transmission lines, surged the most in a year after reporting its first quarterly profit in 18 years as a public company on Chinese sales.
source: Bloomberg
