IT/ITes

  • Traders work on the floor of the NYSE

    The Dow and S&P 500 posted their fourth straight day of losses while the Nasdaq ended its three-day down streak. Materials and energy shares were Wednesday's biggest losers following further losses in U.S. oil prices. The market had traded higher for much of the session after Yellen told Congress she does not expect the …

  • Mumbai, Feb 10 (IANS) Disappointing earning results, coupled with negative global cues and a slump in crude oil prices dragged the Indian equity markets to their lowest levels in 2016 on Wednesday. Indian ...

  • Mumbai, Feb 10 (IANS) Disappointing earning results, coupled with negative global cues and a slump in crude oil prices dragged the Indian equity markets to their lowest levels in 2016 on Wednesday. This ...

  • Christian Chabot CEO of Tableau Software waits, for his company's stock to begin trading on the floor of the New York Stock Exchange

    Global economic uncertainty and worries about weak spending on information technology are forcing investors in cloud computing stocks and related enterprise companies to take a reality check. The deep selloff, sparked last week after business analytics company Tableau Software Inc (DATA.N) gave a dismal sales outlook, …

  • MFs bring down exposure to blue-chip firms in Q3 The Financial Express - 23 hours ago
    MFs bring down exposure to blue-chip firms in Q3

    Mutual funds brought down their exposure to some of the leading blue chip companies during the quarter ended December 2015. According to data compiled by Capitaline, MFs substantially cut their holding in ITC ( by 10.88 percentage points) and Maruti Suzuki (2.02 ppt) during the quarter. The reduction in their ownership …

  • Government unlikely to bring Sec 66 back The Financial Express - Wed 10 Feb, 2016 5:30 AM IST

    The government is unlikely to bring back any rules that even remotely represent the now-struck-down Section 66 of the Information Technology Act, after the Supreme Court had directed the government to relook into the law. “There is no reason of (Section) 66 coming back,” said Arvind Gupta, who leads the technology initiatives …

  • Wall Street cuts losses late to end tad lower Reuters - Wed 10 Feb, 2016 3:50 AM IST
    Traders work on the floor of the NYSE

    Shares of Anadarko Petroleum (APC.N) dropped 7 percent to $37.24. The company announced late in the session that it was cutting its dividend, preserving cash at a time when sliding oil prices have fuelled losses. Pfizer (PFE.N), up 1.9 percent, and Gilead (GILD.O), up 2.3 percent, gave the biggest boosts to the S&P 500, …

  • Strategies to foray into healthcare IT The Financial Express - Tue 9 Feb, 2016 10:01 PM IST
    Strategies to foray into healthcare IT

    Healthcare industry is considered ever green and healthcare IT has attracted the attention of global players for investments. Healthcare IT organisations have to cope with transforming business model while adhering to strict regulatory demands of the industry. According to industry estimates, the global healthcare spending …

  • Living longer, better, healthier—thanks to technol … The Financial Express - Tue 9 Feb, 2016 9:00 PM IST
    Living longer, better, healthier—thanks to technology

    What do diabetes, cancer and the Notre Dame Soccer team have in common? Some of the scariest words a person can hear from their physician are the words cancer or diabetes. In the case of diabetes, I can almost guarantee that every person reading this either has a family member with diabetes or knows someone who does.

  • Mumbai, Feb 9 (IANS) Disappointing macro-economic data, coupled with a massive plunge in Japanese indices and a weak rupee subdued Indian equity markets on Tuesday. This dragged a barometer index of the ...

  • Sensex ends more than 1 percent lower; IT slumps Reuters - Tue 9 Feb, 2016 3:59 PM IST
    A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai

    REUTERS - The BSE Sensex fell more than 1 percent on Tuesday as software services exporters were hit hard after Cognizant Technology Solutions issued disappointing revenue guidance, while sentiment also ...

  • IT stocks fall after Cognizant weak revenue guidan … The Financial Express - Tue 9 Feb, 2016 3:54 PM IST
    IT stocks fall after Cognizant weak revenue guidance

    The BSE Information Technology index slid over 3 per cent in the early trade on Tuesday after the Nasdaq-listed Cognizant Technology Solutions, a IT service provider issued a weak sales forecast. Cognizant, whose rivals include Indian IT services firms such as Tata Consultancy Services and Infosys Ltd said the financial …

  • Top 15 stocks trending in today’s trade: Motherson … The Financial Express - Tue 9 Feb, 2016 2:38 PM IST
    Motherson Sumi shares plunge over 12% on lower-than-expected Q3 results

    The BSE Sensex and NSE Nifty opened on a weak note down on Tuesday tracking global markets. At 9.23 am, Sensex was 276.85 points down at 24,010.57. NSE Nifty was trading 91.70 points down at 7,295.55.

  • LIVE: Sensex down over 200 points, Nifty below 7,310; … The Financial Express - Tue 9 Feb, 2016 2:19 PM IST
    LIVE: Sensex down over 200 points, Nifty below 7,310; European markets fall

    The benchmark BSE Sensex extended losses for a second straight day and cracked below 24,000-mark

  • Cognizant forecasts slowest revenue growth in 14 y … Reuters - Tue 9 Feb, 2016 10:17 AM IST

    IT services provider Cognizant Technology Solutions Corp forecast its slowest quarterly revenue growth in 14 years, adding to mounting worries about clients keeping a tight lid on technology spending. Cognizant, whose rivals include Indian IT services firms such as Tata Consultancy Services and Infosys Ltd, said the financial …

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Oil & Gas

  • India's Oil and Natural Gas Corp (ONGC.NS) hopes to agree new cheaper drilling contracts for its western offshore fields, two sources involved in the matter said, in its biggest ever cost-saving drive in response to lower crude prices. The state-owned explorer wants to end existing expensive contracts for drilling rigs …

  • The petroleum ministry is unable to find a ‘suitable candidate’ to head one of the most important offices in the oil and gas sector, that of the directorate general of hydrocarbons (DGH), even after several months of search. The position has been vacant since the superannuation of B N Talukdar in July 2015. Currently, …

  • Essar Oil says Rosneft stake buy in advanced due d … Reuters - Tue 9 Feb, 2016 8:32 PM IST

    Russia's top oil producer Rosneft is still carrying out due diligence to buy a stake in Essar Oil Ltd, the Indian group which runs India's second biggest private sector refinery said on Tuesday. Rosneft signed a preliminary deal in July last year to acquire up to 49 percent in Essar Oil, controlled by the Indian billionaire …

  • Asia trade insurers keep close eye on China, India … Reuters - Tue 9 Feb, 2016 12:18 PM IST
    An employee walks along aluminium ingots at the foundry shop of the Rusal Sayanogorsk aluminium smelter outside the town of Sayanogorsk

    As rock bottom commodities prices and overcapacity weaken balance sheets at beleaguered commodities firms, trade insurers fear further pressure from payment delays and defaults in China and India, particularly in metals. A blowout in payment times and rising insolvencies at manufacturers in Asia would put more pressure …

  • MIP good for steel sector, but more needed from Bu … The Financial Express - Tue 9 Feb, 2016 5:58 AM IST

    The government has kept its promise to stand by the steel industry, facing the most challenging phase ever. India is the only major emerging economy to exhibit a positive growth in steel consumption despite a fluctuating fortune in the manufacturing sector and a shrinking investment scenario in infrastructure and construction. …

  • India, UAE may sign pact on nuclear energy The Financial Express - Tue 9 Feb, 2016 5:31 AM IST

    As many as 16 agreements on a wide range of sectors like nuclear energy, oil, IT, aerospace and railways — facilitating billions of dollars of investment by the UAE in India — are expected to be inked during Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan’s visit to New Delhi beginning Wednesday. Al Nahyan, …

  • As Big Oil shrinks, boards plot different paths out … Reuters - Sun 7 Feb, 2016 1:44 PM IST
    Residential homes are shown next to a Shell Oil facility in Carson, California

    LONDON/HOUSTON (Reuters) - As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude prices have tumbled around 70 percent over the past 18 months to around $35 a barrel, leading to five of the world's …

  • India, Sri Lanka bat for strengthening energy ties IANS - Sat 6 Feb, 2016 9:20 PM IST

    Bhubaneswar, Feb 6 (IANS) India on Saturday held discussions with Sri Lanka to strengthen bilateral relations in the petroleum sector. Petroleum and Natural Gas Minister Dharmendra Pradhan held a meeting here with Anoma Gamage, deputy minister of petroleum resources development of Sri Lanka. Pradhan discussed issues like …

  • Exclusive - Iran wants payment in euros for new oil … Reuters - Fri 5 Feb, 2016 8:05 PM IST

    Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month's sanctions relief. A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran …

  • Cairn can’t export excess crude, govt tells High C … The Financial Express - Fri 5 Feb, 2016 6:47 AM IST
    Cairn can’t export excess crude, govt tells High Court

    The ministry of petroleum and natural gas on Thursday told the Delhi High Court that its empowered committee of secretaries has decided against granting permission to Cairn India, subsidiary of UK-based Vedanta group, to export crude oil from its Barmer oil and gas block in Rajasthan. The company had moved the high court …

  • Dollar softening boosts equities, commodities Reuters - Fri 5 Feb, 2016 2:50 AM IST
    Traders work on the floor of the New York Stock Exchange

    Global equity markets rose on Thursday as diminished expectations of U.S. interest rate hikes this year pushed the dollar lower, which in turned boosted the prices of many commodities. "The big move down in the dollar seems as much about the Fed and the reality that aside from the employment data in the U.S., you haven’t …

  • New Delhi, Feb 4 (IANS) Finance Minister Arun Jaitley said again on Thursday that the goods and services tax regime (GST) will become a reality soon, and added reforms in the country' direct tax system were also the government's priority. Jaitley said along with the indirect tax system, the direct tax regime was also being …

  • Essar sells Mumbai office space for $353 million to … Reuters - Wed 3 Feb, 2016 9:39 PM IST

    Essar Group said on Wednesday it has signed an agreement with property developer RMZ Corp to sell 1.25 million square feet of office space for 24 billion rupees ($353 million), as part of efforts to sell non-core assets to reduce debt. Essar, which is controlled by the billionaire Ruia brothers and has presence across …

  • Arun Jaitley to inaugurate summit to attract infra … The Financial Express - Wed 3 Feb, 2016 6:56 AM IST

    Finance minister Arun Jaitley will inaugurate the India Investment Summit on Thursday with an aim at attract global investment into fund-starved infrastructure sectors such as roads, highways, oil and gas, and and railways. The two-day summit, to be held in the national capital, would see participation by long-term investors …

  • New Delhi, Feb 2 (IANS) State-run explorer Oil and Natural Gas Corp (ONGC) said on Tuesday that in order to best benefit from low exploration costs resulting from falling international oil prices, the focus should be on exploration in frontier and deep water blocks where the lead period is 7 to 8 years. "This is a time …

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Banking & Finance

  • Indian Banks to Modify Interest Rates for Savings  … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian banks may revise the interest rates on saving deposit account balance exceeding Rs 100,000, reported Business Standard. Private sector lenders such as Kotak Mahindra Bank and IndusInd ...

  • Canara Bank to Set up 47 Micro Enterprises Biz Cen … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian public sector lender Canara Bank has plans to set up 47 Micro Enterprises Business (MEB) centres all over the country. The Bangalore-based PSB explained that the proposed MEB centres ...

  • Indian Banks Achieve Jan Dhan Account Opening Targ … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian banks have achieved the target of opening 75.16 million accounts for the low-income households under the Pradhan Mantri Jan-Dhan Yojana (Prime Minister's People Funding Scheme), reported ...

  • Axis Bank Garners $500 Mln via Bonds Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian private sector lender Axis Bank has garnered capital worth $500 million in a 5.5-year dollar-money at 3.25% fixed rate coupon. The Mumbai-based lender has raised the capital through its ...

  • Essar Steel Algoma Garners $1.2 Bln for Debt Refin … Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Essar Steel’s Canadian subsidiary, Essar Steel Algoma, has garnered around $1.2 billion to refinance its previous debts, Business Line reported. The refinancing comprises a debt of $750 million, ...

  • DoT to Start 3G Spectrum Auction from Feb 23, 2015 Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- The Department of Telecommunications (DoT) stated that the proposed spectrum auction will start from February 23, 2015 instead of February 3, Business Standard reported. The delay is due to ...

  • SpiceJet Hopes to Make Profit in 12 Months Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian low-cost carrier SpiceJet aims to see profit within a year after receiving fresh amount of capital by sealing a mega deal, Business Standard reported. The company is about to close the ...

  • Citibank India Names Arvind Vashistha as Its Equity … Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Citibank India, a subsidiary of US-based global financial service corporation Citigroup, has named Arvind Vashistha as its equity markets head. Vashistha would be reporting to Citibank India’s ...

  • NSE, BSE Keen to Set up Small Banks Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Indian bourses the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) are considering to open small banks across the country once the Reserve Bank of India (RBI) start the application ...

  • Govt Nominates Hasmukh Adhia as RBI Director Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- The Indian government has nominated Hasmukh Adhia as a director on the Central Board of Directors of the Reserve Bank of India (RBI). Adhia has assumed the new role with effect from November ...

  • Central Bank of India Rolls out Two New Schemes for … Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- India’s public sector lender Central Bank of India has unveiled two latest schemes to facilitate its retail customers to avail housing loan by way of overdraft facility and liquidity on their ...

  • Reliance Jio Garners $1.5 Bln to Repay Loans Contify Investment - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Reliance Jio Infocomm (RJIL), the telecom unit of the diversified group Reliance Industries Ltd (RIL), plans to garner around $1.5 billion from a consortium of 26 banks to refinance the loans. ...

  • India's Domestic Air Traffic Increases 18.31% in Oct … Contify Investment - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Domestic air traffic increased by 18.31% in October this year as airlines carried over 59.25 lakh passengers during the month compared to 50.08 lakh passengers in the same month last year, Directorate ...

  • SBI Likely to Offer $1 Bln Loan to Adani for its Australian … Contify Banking - Mon 17 Nov, 2014 8:21 PM IST

    Nov. 17 – India’s largest public sector lender State Bank of India has inked an agreement with Adani Enterprises allowing the conglomerate to avail loan up to $1 billion for the development of its infrastructure ...

  • Govt to Meet PSB chiefs on Nov 20 Contify Banking - Mon 17 Nov, 2014 8:21 PM IST

    Nov. 17 --The finance ministry has scheduled a meeting with the chiefs of government-owned banks on November 20 to review the financial performance of PSBs and progress of Pradhan Mantri Jan Dhan Yojana ...

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