Sources said the promotions, most of those on the delivery side of the business, would be handed out before October.
Indrani Mazumdar ' Mumbai April 23, 2015 Last Updated at 15:57 IST Stock Tips for Tomorrow Subscribe, Know which stocks to buy Tomorrow only Profitable Stock tips www.live-market-tips.com/Tomorrow Ads by Google Add to My Page Tiny URL RELATED NEWS Markets end flat after paring gains; HDFC Bank down 1.6% Sensex, Nifty extend losses; TCS, L&T down 2% Sensex gains over 100 points; Wipro surges nearly 6% Sensex, Nifty up 1%; bank shares zoom Nifty slips below 8,400 mark; HDFC down over 1% Hiranandani Properties Prices Starting at Just 15 Lacs. An Excellent Opportunity. Visit Nowhouseofhiranandani.com Aviva Term Plan Get 1 Cr Life Cover @Rs 16*/day. High Protection at Minimal Cost!avivaindia.com/Term-Insurance Ads by Google Markets ended lower on Thursday despite the clarification on minimum alternate tax by the government while a weak monsoon forecast raised concerns about an uptick in inflation. Further, investors turned cautious ahead of fourth quarter earnings from Infosys while worries about Greece also dampened sentiment. Meanwhile, rating agency Moody's today said emerging economies in Asia Pacific region, including India, have a high degree of immunity to external shocks, but will face challenges when the US Federal Reserve begins raising interest rates. The 30-share Sensex dropped 155 points to end at 27,735 and the 50-share Nifty shed 31 points to close at 8,398. MARKET VIEW "The last 6 out of 7 days, we have witnessed an extreme bout of selling in the key indices and stocks. Every rise getting sold and Bulls coerced to give in recently, with key supports breached. Today, was no different day, where volatility was extreme. We believe that the approach to the market remains cautious. If the indices break the previous low and close below that (i.e. 8270), then it could trigger a short term correction. Else, this could very well be termed as a bounce off the support levels. However, for a new trend to begin, Banknifty has to break 19000 levels. " said Kunal Bothra, Head -Advisory, LKP. ECONOMY The clarification from the Indian government that it would honor tax treaties while making a demand of Minimum Alternate Tax (MAT) at the effective rate of 20 per cent came as a relief for favorable treaty nations. But, dilemma still hangs over funds from other nations whose treaties do not grant an exemption from capital gains. The first monsoon forecast by the Indian Metrological Department (IMD) has predicted below normal rainfall during the season for the second straight year in 2015 primarily due to the build-up of El Nino conditions in the Pacific Ocean. Disruptions in the normal rainfall is likely to put further pressure on the agriculture sector which is already reeling under the impact of unseasonal rains that have damaged crops in parts of country and may lead to higher food inflation making further rate-cuts by Reserve Bank of India less likely. KEY STOCKS On the sectoral front, BSE Healthcare, Auto, Capital Gods, Oil & Gas, Realty and Power indices are trading lower up to 1%. However, BSE Consumer Durables and Metal indices are trading higher by 1% each. Metal stocks ended firm in today's trade after Bank of America-Merrill Lynch said the sector's return on equity will double by FY17 end. The research house reinstated coverage on Indian steel makers, with "buy" ratings on Tata Steel, SAIL, JSW and Jindal Steel and Power. Tata Steel gained 5%. Vedanta (earlier known as Sesa Sterlite) climbed nearly 0.5% and Hindalco was up 0.2%. Coal India advanced 1.3% after Brokerage firm CLSA maintained its 'buy' rating on the stock. YES Bank ended higher by 7% on the National Stock Exchange (NSE) on back of heavy volumes after the private sector lender said that its board approved a proposal to increase foreign institutional investor (FII)/foreign portfolio investors (FPI) limit to 74% from the existing limit of 49% of the paid-up share capital. According to media reports, Maruti Suzuki has plans of launching a series of new cars for the Indian market in 2015. Unveiled at the 2015 Geneva Motor Show, the Maruti Suzuki YRA model will be named as 'Fronx' for the Indian market. The stock was up 1%. TCS ended the session with marginal gains after the company teams up with Solace Systems team to deliver digital Reimagination solutions and services. Select IT shares remained under pressure for the seventh straight session over concerns about quarterly earnings. Infosys shed over 0.7% ahead of the quarterly earnings due tomorrow and Wipro lost nearly 2%. According to reports, M&M is planning to invest Rs 2,500 crore in expaniding its existing auto manufacturing facility in Telangana., which will increase its capacity to 1.5 lakh vehicles per year. The stock slipped over 1%. On the concern of poor monsoons ahead of the June-to-September monsoon season, auto, financials and FMCG stocks ended lower. ITC was down 0.3%, Tata Motors lost over 2%, Hero motocorp shed 1%, HUL slipped 0.6%, SBI dropped 2.4%, Axis Bank and ICICI Bank dipped 0.3% each. HDFC Bank lost 0.4%. HDFC Bank posted a 20.6% rise in net profit in the fourth quarter ended March 31, 2015 due to a higher loan growth. The bank had a net profit to Rs 2806.91 crore for Q4 compared to Rs 2,326.52 crore in same quarter previous fiscal. The number of new launches in residential real estate has come down by 55 per cent in the first quarter this year owing to subdued sales, according to a report. From the realty pack, Unitech, IB Realty, Godrej, Anantraj, HDIL and NBCC were down up to 2%. In the broader market, BSE Midcap index outperformed the peers and was up 0.6%. However, BSE Smallcap index lost 0.2%. Market breadth ended lower with 1,434 declines versus 1,377 advances. Read more on: Nifty ' Sensex ' Nse ' Bse ' Maruti ' Tcs ' Infosys ' Yes Bank ' Hdfc Bank ' Tata Steel Read More Sensex drops 189 points to end below 28,000 Provisionally, the 30-share Sensex ended down 189 points at 27,701 and the 50-share Nifty shed 39 points to close at 8,391 Add to My Page Tiny URL Recommended for you Monthly SIP Investments Invest as low as Rs 1000pm in Top SIPs in just 2mins. Start a ZipSip. www.myuniverse.co.in/ZipSip Luxury 2 & 3 BHK Mumbai Pay 10 lacs now, Rest on Possession 63 Storey Twin Towers in Kandivali lovealpine.com/Special-Offer Ads by Google Advertisements Prof. Mikkel Draebye explains the importance of corporate entrepreneurship. Read More Plan a vacation to unveil the dense wildlife at Tadoba. Buidling a smarter India with our contribution of new automation. Get up to 5 years of onsite warranty & great discounts. Know more Zero Account Opening Fees. Click here to know more $ Daily One Sure Intraday Stock Tip. Get Profit by 11:30 AM @ 0988877963 Leaders should be responsible for organisation and co-workers. "Prof. Massimo Magni" Unveil the marvellous hill stations of Maharashtra Back to Top Quick Links Go LATEST NEWSAll NewsIn This Section Nifty ends shy of 8,400; YES Bank top gainer PDP-BJP coalition govt a change for the worse: Omar Abdullah Arms case: Salman Khan fails to appear in court for recording statement MRF Q2 net surges 95% to Rs 333 crore Banking sector fraud has gone up by more than 10%: Deloitte Building leadership, capabilities in big data labs critical for analytics: Nasscom YES Bank extends intra-day gain on board nod to hike FII/FPI limit to 74% Gammon India to issue Rs 100-crore debentures to promoters Smart maps an $8 bn opportunity for India: Study Exercise financial prudence: Parrikar to Armed Forces News you can use Rss icon Don't reduce PF contribution What is Gratuity? What are NEFT and RTGS? Check your Income Tax Credit credit status form-26AS online Saving capital gain tax on sale of property Calculate tax on your house property income How to Check your EPF Balance & status online Featured Videos Why some of Japan's elderly want to go to jail video The 1341hp electric car beats a Bugatti video The maps that tell you when it's safe to breathe video How to add Michael Jordan's shoes to your portfolio video MOST POPULARReadSharedCommented BK Birla group plans mega recast Samsung to set up $100-mn plant in Hyderabad Rains seen below normal for 2nd straight year Jet Airways puts its wide-body fleet on sale to reduce debt FIIs with tax pact shield may be exempt from MAT Market News Signs of steel prices bottoming out a ray of hope for steel players CNX Metal index that fell to one-year lows of close to 2,293 in mid-March now trading at 2,460 levels Markets under pressure; Sensex slips below 27,800 The auto and capital goods space are exerting pressure on the indices in noon trades. Ashoka Buildcon dips after pricing QIP issue at discount The board has approved issue of 2.84 crore shares to Qualified Institutional Buyers at Rs 175.80 per share Cardamom rises by 0.4% as demand picks up Speculators created fresh positions at prevailing levels, taking positive cues from spot market on pick up in demand Crude palm oil falls by 0.1% on sluggish demand speculators indulged in reducing positions due to subdued demand in spot market The 30-share Sensex dropped 155 points to end at 27,735 and the 50-share Nifty shed 31 points to close at 8,398.
Images from Sunday's action at the Australian Open.
Among the businesses that need consolidation are retail and defence
The company is unlikely to continue with the CEO-COO model
Top firms get GST notices on credit claims on Friday; replies sought within hours.
The government is considering a proposal to privatise some state-owned banks in phases.
The film to be produced under Daggubati's banner Suresh Productions, will see Vijay Sethupathi portray the role of Sri Lankan spin legend.
Infosys recently hosted its first-ever global hackathon, which was held across 20 locations and saw participation from over 1,100 employees.
There is a need for further focus and strengthening of guidelines.
If you are looking at studying abroad, make sure that you have a flawless college application.
HR can make better hiring decisions with solutions powered by robotics & machine learning.
A strike could hit West Indies' tour opener against India on Wednesday due to a row between leading West Indies players and their own union.
Many Indian companies provide outsourcing services to various American entities, including large banks and financial institutions.
Indians want change and progress. They should be willing to accept tough decisions, says Sanjeev Nayyar.
Born in Rangoon (now Yangon, Myanmar) Rupani, 61, joined an RSS shakha as a schoolboy, before graduating to the BJP via the Sangh's students wing -- the Akhil Bharatiya Vidyarthi Parishad.
Court cases likely over interpretation of the new levy proposed in the Budget for digital economy.
Cheers broke out in the cabin of JetBlue flight 387 as the plane touched down.
The centre eyes airport-specific digital solution and ties up with start-ups to solve problem unique to BIAL
Foreign airlines charge $100-200 or euro 75-150 for excess baggage, while Indian airlines charge Rs 300-500 per kg above 15 kg.
The term of the last chairman of the pension regulator, Yogesh Agarwal, was cut short by the finance ministry in November.
It is doubtful that our political masters are even aware of the features of the Model Law.
'It is likely the government may opt for an IAS officer.' 'For the government, an IAS officer will be more easy to deal with,' notes A K Bhattacharya.
The Ministry of External Affairs (MEA) on Monday informed that the necessary clearance regarding former England batsman Kevin Pietersen's visa was received from the Union Sports Ministry paving the way for his upcoming visit to India.
Jesse Ryder's blistering return to form may not be enough to get him rushed back into the international game, according to New Zealand captain Brendon McCullum.
Following reports of three senior Pakistan players misbehaving with fielding coach Grant Luden, it is learned that opener Ahmed Shehzad may be sent home from the World Cup.
The Sports Ministry confirmed on Thursday that it will stick to the original list of winners for the Khel Ratna and Arjuna awards, thereby dashing discus thrower Krishna Poonia's hopes of being conferred the country's highest sporting honour.
Take a call to stay put or opt our based on whether you think the company will be able to find a strategic investor, suggests Sanjay Kumar Singh.
Mumbai opener Prithvi Shaw, who had played his first game in first class cricket after serving a eight-month ban for doping, smashed a quick 66 off 62 balls against Baroda. A round-up of Day 1 of the Ranji Trophy matches played on Monday.
The government on Wednesday unveiled the FTP for 2015-20.
The transformation will be driven by the number of initiatives the company has identified.
Here comes the moment of truth. Modi prides himself on offering an "incorruptible" government. Will he dilute the Prevention of Corruption (Amendment) Bill to coax the administration's fealty and compromise his self-image?
As an entrepreneur the most important quality you have to have is that all consuming passion to become an entrepreneur.
The broader markets outperformed the benchmark indices- BSE Midcap and Smallcap indices gained 0.4% each
'More than 1,000 start-ups are created from colleges, and more start-ups are coming up every year.'
Non-Performing Assets are a wake-up call for public sector banks.
Popular antacid Mucaine Gel, manufactured by Pfizer's subsidiary Wyeth Laboratories, was also found laced with the heavy metals as well as cadmium.
Instead of the Hindustan Turbo Trainer-40, which Hindustan Aeronautics Ltd could build, export, overhaul, upgrade and even modify into a light-attack aircraft, powerful lobbies have promoted a Swiss trainer -- the Pilatus PC-7 Mark II.
Writes to Trai, Mumbai Police to catch unauthorised SMS senders
Lukewarm response from private investors and turf battles between government agencies have resulted in delaying Modi's ambitions. Sahil Makkar reports.
