Mahanagar Telephone Nigam Limited (MTNL) is trading 3% lower at Rs 36.55, extending its three day fall of over 13%, after widening its net losses by 88% to Rs 850 crore for the first quarter ended June 2011 mainly on account of expenditure on staff cost and retirement benefits. The compan…

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Tata Steel today reported nearly three-fold jump in consolidated net profit at Rs 5,347 crore for the quarter ended June 30, buoyed by mainly one-time gain after sale of stakes in Australian mining firm Riversdale and Tata Refractories. The company had reported a net profit of Rs 1,825 c…

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Stocks sank, extending the worst U.S. slump since the bear market in 2008, while Treasuries gained and gold reached a record after Standard & Poor’s cut the nation’s credit rating. The Dow Jones Industrial Average lost as much as 605 points, led by a 22 percent slide in Bank of A…

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Investors say stocks to drift further, but impact of rating downgrade may be short-term. The mood on Dalal Street has soured further after Standard & Poor’s cut the long-term US credit rating by one notch to AA-plus from top-tier AAA. But investors have not pressed the panic butto…

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Standard & Poor’s downgraded the U.S.’s AAA credit rating for the first time, slamming the nation’s political process and criticizing lawmakers for failing to cut spending enough to reduce record budget deficits. S&P lowered the U.S. one level to AA+ while keeping the out…

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Markets saw its biggest weekly fall of 2011, down by 6.2% (as on 12:30pm). Nifty fell by more than 200 Points today, trading at 5120, breaking major support in Intraday. Nifty also touched its 52-week low today. Heavyweights Reliance Industries, ITC, ICICI Bank, Bharti Airtel and SBI were…

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“Enjoy it while it lasts” the old saying goes. And much the same can be said about the longevity of the current bounce in the beaten down U.S. dollar. Today’s undeserved jump has been fueled by not one, but two Central bank interventions in as many days, as both Tokyo an…

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By Rachelle Younglai and Kim Dixon WASHINGTON (Reuters) – Congressional leaders scrambled for enough support from skeptical lawmakers on Monday to push through an 11th-hour deal to raise the U.S. borrowing limit and avert a potentially devastating debt default. Just one day before…

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Shares of GTL Infrastructure rose as much as 12% in early trade after a report said telecom tower firm Viom Networks has made a Rs 7,500 crore ($1.69 billion) offer to buy it out. Shares opened up 5.45% and at 9.22 am, they were up 10.91% at Rs 15.25 per share in a weak Mumbai market. …

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Mumbai: India’s central bank Tuesday sharply hiked key rates by 50 basis points in the 11th such exercise since January 2010 to tame stubborn inflation, setting the stage for auto, housing and commercial loans to become dearer once again. The repurchase rate, the interest the centr…

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