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Nov 1, 2011

ACC, Ambuja Q2 net up; margins, demand worry

MUMBAI (Reuters) – ACC Ltd and Ambuja Cement saw profits for the July-September quarter fall short of market estimates on Tuesday as rising costs pressured margins and demand in India remained weak.

Appetite for cement in India, the world’s second-largest producer after China, has retreated in recent quarters on excess supply and a slump in the construction and property industries due to high interest rates and slowing economic growth.

Nov 1, 2011

India’s ACC, Ambuja Q2 net up; margins, demand worry

MUMBAI, Nov 1 (Reuters) – Indian cement producers ACC Ltd
and Ambuja Cement saw profits for the
July-September quarter fall short of market estimates on Tuesday
as rising costs pressured margins and demand in Asia’s
third-largest economy remained weak.

Appetite for cement in India, the world’s second-largest
producer after China, has retreated in recent quarters on excess
supply and a slump in the construction and property industries
due to high interest rates and slowing economic growth.

Oct 28, 2011

Sensex gains 516 pts; posts best weekly gain in almost 2 mths

MUMBAI (Reuters) – The BSE Sensex logged its biggest weekly gain in nearly two months on Friday, bolstered by gains in financials as hopes of an end to the monetary policy tightening cycle in Asia’s third-largest economy drew investors back into beaten down stocks.

The gains in the domestic market were also underpinned by a rally in global stocks, which headed for their best week in over two years following EU leaders’ efforts to contain the euro zone debt crisis.

Oct 28, 2011

Indian shares post best weekly gain in almost 2 months

MUMBAI, Oct 28 (Reuters) – Indian shares logged their
biggest weekly gain in nearly two months on Friday, bolstered by
gains in financials as hopes of an end to the monetary policy
tightening cycle in Asia’s third-largest economy drew investors
back into beaten down stocks.

The gains in the domestic market were also underpinned by a
rally in global stocks, which headed for their best week in over
two years following EU leaders’ efforts to contain the euro zone
debt crisis.

Oct 27, 2011

Forbes list: Mukesh Ambani richest Indian, Anil biggest loser

MUMBAI (Reuters) – India’s richest are getting poorer, according to Forbes, as falling stock prices, corruption scandals in Asia’s third-largest economy and a global slowdown wiped 20 percent off the total value of the country’s 100 wealthiest in the last year.

Mukesh Ambani, head of Reliance Industries, India’s most valuable company, retained the top spot with a value of $22.6 billion, despite seeing his net worth drop by $4.4 billion.

Oct 27, 2011

India’s richest getting poorer, says Forbes

MUMBAI, Oct 27 (Reuters) – India’s richest are getting
poorer, according to Forbes, as falling stock prices, corruption
scandals in Asia’s third-largest economy and a global slowdown
wiped 20 percent off the total value of the country’s 100
wealthiest in the last year.

Mukesh Ambani, head of Reliance Industries ,
India’s most valuable company, retained the top spot with a
value of $22.6 billion, despite seeing his net worth drop by
$4.4 billion.

Oct 26, 2011

Sensex rises 0.2 pct in festival session

MUMBAI (Reuters) – The BSE Sensex Indian closed up 0.2 percent after a short special trading session on Wednesday, as investors buoyed by the likely end of Reserve Bank of India’s tightening cycle celebrated the Diwali festival and ignored uncertainty in Europe.

Tuesday’s move by the RBI which signalled an end to its hawkish stance on inflation cheered investors during a session that traditionally sees stocks gaining.

Oct 25, 2011

Soaring realty ambitions belie rocky foundations

MUMBAI (Reuters) – When even the man who is building the world’s tallest residential tower speaks of an Indian real-estate slowdown that could last for years, it is clear the foundations of a once-soaring industry are starting to shake.

Behind gleaming white gates, Abhisheck Lodha’s 117-storey World One – where luxury apartments start at $1.5 million and rise past $15 million – will boast private swimming pools at cloud level and a 1,000-foot-high open-air garden.

Oct 25, 2011

Sensex rises 1.9 pct on possible end to rate hikes

MUMBAI (Reuters) – The BSE Sensex ended up 1.9 percent on Tuesday to its highest close in over two-and-a-half months, as carmakers, infrastructure firms and developers cheered the possible end of a monetary tightening cycle that has hurt demand in Asia’s third-largest economy.

The Reserve Bank of India (RBI) raised repo rate for the 13th time since early 2010 to battle stubbornly high inflation but signalled it may end its hawkish stance that has put it at odds with peers concerned about weak global growth.

Oct 25, 2011

Indian shares rise 1.9 pct on possible end to rate hikes

MUMBAI, Oct 25 (Reuters) – Indian shares ended up 1.9
percent on Tuesday to their highest close in over two and a half
months, as carmakers, infrastructure firms and developers
cheered the possible end of a monetary tightening cycle that has
hurt demand in Asia’s third-largest economy.

The Reserve Bank of India raised interest rates for the 13th
time since early 2010 to battle stubbornly high inflation but
signalled it may end its hawkish stance that has put it at odds
with peers concerned about weak global growth.