Shares of Tata Consultancy Services on Wednesday plunged almost 4 per cent, wiping out about Rs 16,000 crore (Rs 160 billion) in investor wealth, after the IT major indicated to analysts that weak India business and lower working days could drag down March quarter growth rate.
Trading in Samvat 2074 on Thursday got off to a rocky start, with the benchmark indices ending more than half a percent lower and the gauge for banking stocks dropping 1.25%.
Reports by CAG earlier on the 2008 telecom licence scam had resulted in the cancellation of 122 licences.
The implementation of MCLR from April 1 has already led to a rate cut of 10 basis points on home loans by the country's largest bank, State Bank of India, and others.
'The good news is that money continues to flow into India-focussed offshore funds.'
Mixed global cues and decline in crude oil prices further dent the sentiments.
Feel the pinch of predatory pricing by e-tailers
The S&P BSE Sensex surged 364 points to end at 24,607 and the Nifty50 soared 107 points to close at 7,476.
Experts say lending rates won't come down significantly,as banks are grappling with NPAs
About 55 per cent of the public offers that hit the market since 2008 are still trading below their issue price.
A pick-up in low-cost cigarette consumption helped India's largest cigarette maker boost margins
Vodafone Plc and its ex-shareholders have suffered due to the delay in an Initial Public Offer (IPO) of its Indian unit.
Companies asked to give data for three batches instead of one; move may lead to significant rise in development cost of generics
Bankers and executives involved in ATM operations said challenges abounded in this segment.
Data also show that several other leading domestic pharma companies have recalled their products from the US
This is the lowest investment grade rating.
Another negative surprise in HCL's numbers was the decline in the margin by 40 basis points to 21.4 per cent.
Extending its new device plus data plan to more smartphones, the operator is keen to capture the youth's attention.
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