BHEL has an order book of around Rs1 trillion, the highest in its history. Almost 85% is from Central and State utilities, making it one of the least risky in the Indian capital goods universe. Its FY08 margins have contracted due to wage increases. With the additional provisioning requi…

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MUMBAI: The stock of Rolta India continued to languish in the red on Wednesday. The stock, which witnessed a 70 per cent fall intra-day on Tuesday, was trading at Rs 86.75, down nearly a per cent. It touched a low of Rs 80.35. The stock had nosedived on Tuesday amidst speculation of a f…

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LONDON (AP) — A mammoth stimulus package being crafted by President-elect Barack Obama could give the economy a much-needed lift, but other steps must be taken to bolster the wobbly financial system and for any recovery to stick, Federal Reserve Chairman Ben Bernanke said Tuesday. …

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NEW DELHI: Did the market regulator SEBI ignore a red flag over Satyam promoters six years ago, owing to political pressure? The Congress would like to say so, based on Republican Party of India MP Ramdas Athawale’s letter to the then SEBI chairman G N Bajpai claiming that an I-T invest…

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A prime prospect for probe by regulators and authorities investigating the Satyam fraud, acting-CEO Ram Mynampati appears to be the IT company’s most valued asset and drew a salary more than that of founder Ramalinga Raju and all the directors put together. At the same time, its in…

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Details of the stunning fraud at Indian outsourcing giant Satyam are still trickling out. On Friday, Jan. 9, former Chairman Ramalinga Raju was arrested, the company’s stock was delisted, and its board of directors was liquidated. It’s unclear whether the $2.1 billion-a-year c…

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The price of oil fell Monday as investors remained focused on last week’s bad economic news and bet that demand for petroleum products will continue to decline. Light, sweet crude for February delivery fell $2.92, or 7%, to $37.91 a barrel. Last week, oil fell nearly $8 a barrel a…

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MUMBAI: Equities pulled back from Monday’s lows as the November Index of Industrial Production grew at 2.4 per cent against negative 0.4 per cent in October. But jittery traders used this opportunity to book profits. At 12:15 pm, Bombay Stock Exchange’s Sensex was at 9203.46, do…

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Buoyed by a hefty growth in fees and trading incomes, the country’s third largest private sector lender Axis Bank On Friday reported a 63.23 per cent jump in its net profit at Rs 500.86 crore for the quarter ended December 31, 2008, as compared to Rs 306.83 crore for the corresponding q…

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Mumbai: Seeking to avoid a Satyam-like financial fraud, market regulator SEBI on Friday decided to review the earnings statement of all the companies that figure in the elite stock trackers Nifty-50 and Sensex-30. “Such a review would be in relation to the last quarterly results an…

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