Sumeet's Feed
Oct 21, 2014

HDFC Bank eyes pickup in corporate credit

MUMBAI, Oct 21 (Reuters) – India’s HDFC Bank sees
borrowings by corporates for expansion purposes picking up from
second quarter of next year, a senior executive said, a move
that will boost the outlook for banks hit by tepid loan demand
in Asia’s third-largest economy.
HDFC Bank, India’s second-biggest private sector lender by
assets, on Tuesday posted a 20 percent rise in quarterly net
profit, missing street estimates, due to higher tax expenses and
provisioning for loan losses.

Loan growth at Indian banks slowed to 9.7 percent last month
compared to about 17 percent in the same period last year, as
companies put off big investments in an economy growing at its
slowest rate since the 1980s.

Oct 17, 2014

TCS slumps over 8 percent, earnings miss estimates

MUMBAI (Reuters) – Tata Consultancy Services Ltd(TCS.NS: Quote, Profile, Research), India’s biggest software services exporter, posted a 13.6 percent rise in quarterly net profit, but missed analyst estimates on weakness in outsourcing demand in Latin America and in some industrial sectors.

TCS shares fell as much as 8.5 percent on Friday, setting it on course to log its worst single-day fall in nearly five-and-a-half years, in a positive Mumbai market. The stock was up 25 percent this year as of Thursday, more than the main market.

Oct 17, 2014

Tata Consultancy second-quarter earnings misses estimates; shares fall

MUMBAI (Reuters) – Tata Consultancy Services Ltd, India’s biggest software services exporter, posted a 13.6 percent rise in quarterly net profit, but missed analyst estimates on weakness in outsourcing demand in Latin America and in some industrial sectors.

TCS shares fell as much as 8.5 percent on Friday, setting it on course to log its worst single-day fall in nearly five-and-a-half years, in a positive Mumbai market. The stock was up 25 percent this year as of Thursday, more than the main market.

Oct 17, 2014

Tata Consultancy Q2 earnings misses estimates; shares fall

MUMBAI, Oct 17 (Reuters) – Tata Consultancy Services Ltd
, India’s biggest software services exporter, posted a
13.6 percent rise in quarterly net profit, but missed analyst
estimates on weakness in outsourcing demand in Latin America and
in some industrial sectors.

TCS shares fell as much as 8.5 percent on Friday, setting it
on course to log its worst single-day fall in nearly
five-and-a-half years, in a positive Mumbai market. The stock
was up 25 percent this year as of Thursday, more than the main
market.

Oct 17, 2014

Lax emissions reporting makes green firms hard to find in emerging markets

MUMBAI (Reuters) – Global investors are increasingly seeking green assets as they become more concerned of the potential financial cost of climate change, but in emerging markets such as India, inadequate disclosure standards make such assets difficult to find.

Companies reporting emissions, demonstrating readiness for sudden change in the weather, and assessing climate-related risk on a regular basis will attract overseas investment, finance executives and asset managers said at the Reuters Global Climate Change Summit.

Oct 15, 2014

Opaque company filings provide fertile ground for aggressive SEBI

MUMBAI (Reuters) – In the name of investor protection, India’s capital markets watchdog is telling companies on the Mumbai bourse to disclose more information when the situation calls for it – or else.

The Securities and Exchange Board of India (SEBI) drove home that message on Monday when it banished DLF Ltd from the capital markets for three years, its toughest ruling ever.

Oct 15, 2014

Opaque company filings provide fertile ground for aggressive India regulator

MUMBAI, Oct 15 (Reuters) – In the name of investor
protection, India’s capital markets watchdog is telling
companies on the Mumbai bourse to disclose more information when
the situation calls for it – or else.

The Securities and Exchange Board of India (SEBI) drove home
that message on Monday when it banished DLF Ltd from
the capital markets for three years, its toughest ruling ever.

Oct 13, 2014

Reuters Summit: BSE in talks for climate change exchange-traded fund

MUMBAI (Reuters) – BSE Ltd is in talks for an exchange-traded fund (ETF) tracking the bourse operator’s climate change index to be launched within the next couple of years, to take advantage of rising global demand for green investment options.

BSE, formerly the Bombay Stock Exchange, will work with an asset manager to set up the fund investing in shares that make up the S&P Carbonex, launched in 2012.

Oct 13, 2014

Indian bourse sees climate change exchange fund in couple of years

MUMBAI (Reuters) – India’s BSE Ltd, formerly known as the Bombay Stock Exchange, is in talks with asset managers to launch an exchange-traded fund (ETF) based on its climate change index in the next couple of years, its chief executive said on Monday.

BSE launched the S&P Carbonex index in 2012 centred on its popular BSE 100 index .BSE100, giving increased weighting to companies depending on carbon footprint scores.

Sep 3, 2014

Banks pile pressure on liquor baron Mallya over airline loans

MUMBAI (Reuters) – Lenders are increasing pressure on liquor baron Vijay Mallya to facilitate repayment of the debts of his Kingfisher Airlines (KING.NS: Quote, Profile, Research), which has not flown since 2012 and owes more than $1 billion to a consortium of mostly state-run banks.

The airline founded by Mallya failed to make a profit during the eight years from launch to the grounding of its fleet in October 2012 and has been unsuccessful in efforts to find new investors to revive operations.