MUMBAI: Patni Computer Systems, a mid-size IT company, reported better than expected results for the quarter ended June 2009. Growth in volume coupled with significant cost rationalization measures resulted in a quarter-on-quarter growth of 92% in net profit to Rs137 crore. The stock ma…

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MUMBAI: Power trading firm PTC India on Thursday reported a 77.01 per cent jump in net profit to Rs 33.33 crore for the first quarter ended June 30, 2009. Total income increased to Rs 2,399.63 crore in the June quarter of 2009 from Rs 1,220.67 crore in the corresponding year-ago period,…

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West Bengal may lose another project, this one worth Rs 600 crore, due to procedural problems and delays in clearing a project. US-based Astonfield Renewable Resources Ltd, which was shortlisted by the Kolkata Municipal Corporation to implement a 54 mw power project from solid waste of D…

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Adani Power initial public offering (IPO) witnessed huge investor interest and was subscribed 4.55 times on the second day of subscription. The issue received bids for 1,13,15,07,130 shares as against the issue size of 30,16,52,031 shares, as per the data available on the NSE website. Ti…

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MUMBAI: RBI’s policy review spells status quo for debt investors. According to financial experts, investors can hold on to their debt investments as the interest rates are likely to remain steady in the medium term. They also advise investors look out for corporate deposits, which…

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NEW YORK: Call it Overbanked of America. News that Bank of America Corp plans to shut some of its 6,109 branches may mark a turning point in what analysts have long deemed a nationwide glut in bank branches, as more customers favor banking from their computers and phones. The changes c…

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Stocks edge lower as consumer confidence falls; Mixed earnings reports weigh on market NEW YORK (AP) — An economic reality check is putting the stock market rally back on hold. Stocks mostly fell Tuesday after the Conference Board said consumer confidence weakened more than expect…

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ET: The much-awaited big-ticket IPO from the Adani group opened on Tuesday amid high expectations from the group that saw its earlier offering, the Mundra Port & SEZ (MPSEZ) issue, being oversubscribed a record 116 times in November 2007. Adani Power has completed allocation of shar…

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MUMBAI: The Nifty is within 3% of its highest point of the rally which began on the 9th of March. The debate is still on as to whether we have begun a secular bullish trend once again and whether whatever we have seen over the past four and a half months is evidence enough to support that…

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NEW DELHI: The RBI has kept the key rates unchanged and increased the inflation forecast to 5 per cent. The GDP is expected to grow at 6 percent and the money supply growth is seen at 18 per cent, according to the quarterly review of the economy, released on Tuesday. ( Watch ) The deposi…

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