CLSA upgrades Sensex target to 20,800; Tata Motors, M&M top picks
(The Economic Times
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22/02/2012)
Brokerage firm, CLSA in a report on Tuesday upgraded Sensex target to 20,800 from 18,500 earlier, a rise of nearly 13% on the back of strong global liquidity environment and policy action by the government. CLSA in its report said, "India has been the
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Kingfisher Airlines shares plunge after mass cancellations of flights
(NDTV Profit
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22/02/2012)
Shares of troubled carrier Kingfisher Airlines plunged over 15 per cent in early trade Tuesday over mass cancellations of flights. Kingfisher stocks traded 13.5 per cent lower at Rs 23 on the Bombay Stock Exchange at 0917 hours. The BSE Sensex was up
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BSE Sensex seen opening flat, data eyed
(Reuters
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22/02/2012)
The BSE Sensex is expected to open little changed on Tuesday as investors await more details on the approval of a crucial second bailout package for Greece, and ahead of the first release of India's new annual CPI inflation data. Markets across Asia
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Sensex at 7-mth closing high, Reliance Industries up 3 pct
(Reuters
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22/02/2012)
The BSE Sensex climbed to its highest close in nearly seven months on Tuesday, with lenders among the gainers on expectations the RBI will consider easing banks' reserve requirements to help ease tight cash conditions. Energy conglomerate Reliance
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Islamic megabank may finally materialise in 2012
(CPI Financial
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22/02/2012)
According to Adnan Youssef, Chairman of the Union of Arab Banks (UAB) and Chief Executive Officer of Al Baraka Banking Group, the long-awaited megabank will be headquartered in Bahrain with a capital of $1 billion, $600 million of which would come from
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Malaysia’s inflation slows to 1-year low in Jan
(Bloomberg
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22/02/2012)
Malaysia’s inflation slowed to a one-year low in January, giving the central bank room to extend a pause in monetary policy tightening as the faltering global economy threatens growth. Consumer prices rose 2.7 per cent from a year earlier after climbing
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Sensex may touch 20,800-level next fiscal: CLSA
(The Hindu Business Line
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22/02/2012)
The Indian stock market barometer Sensex may reach 20,800-level during the next fiscal, mainly on account of a strong liquidity position and positive policy actions by the Government, brokerage firm CLSA has said. The index is currently trading near
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European shares flat in early trade; Peugeot rises
(Reuters
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22/02/2012)
European shares were flat in early trade on Wednesday, after upbeat manufacturing data from China and France was offset by continued worries over Greece's ability to undertake austerity measures. At 0813 GMT, the FTSEurofirst 300 index of top European
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German manufacturing slows in Feb - PMI
(Guardian.co.uk
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22/02/2012)
Growth in Germany's manufacturing and services sectors slowed in February, surveys showed on Wednesday, clouding recent optimism about the resilience of Europe's bulwark economy to the crisis hammering its euro zone peers. Markit's manufacturing
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India's FY13 GDP Growth Seen At 7.5%-8%
(RTT News
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22/02/2012)
India's economy is likely to expand in the range of 7.5 percent to 8 percent in the financial year 2012-13, Chakravarthy Rangarajan, Chairman of Economic Advisory Council to the Prime Minister said Wednesday. The rate of growth in 2011-12 is estimated at
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French Leading Index Rises In December: Conference Board
(RTT News
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22/02/2012)
France's leading economic index increased from the previous month in December, data from a survey by Conference Board showed Wednesday. The leading economic index increased 0.3 percent month-on-month to 113 in December. The negative contributors to the
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IOB to raise Rs 2,000 cr via pref allotment
(The Hindu Business Line
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22/02/2012)
Indian Overseas Bank will raise close to Rs 1,980 crore by making preferential allotment to Government of India and Life Insurance Corporation of India. IOB’s Committee of Directors for preferential issue of shares, on February 21, fixed Rs 97.82
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RBI to issue Rs 1,000 notes with inset letter ‘R’
(The Hindu Business Line
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22/02/2012)
The Reserve Bank of India will shortly issue banknotes of Rs 10 denomination with inset letter ‘R’ in the Mahatma Gandhi Series. “The RBI will shortly issue Rs 1,000 denomination banknotes with inset letter ‘R’ in the Mahatma Gandhi series bearing the
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China economy faces risk of hard landing -govt economist
(Guardian.co.uk
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22/02/2012)
A property sector downturn and slumping global demand may knock China's economy into a hard landing in 2012, a senior government economist told Reuters, putting more pressure on Beijing to speed up economic reforms and to open up the market. The economy
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Futures signal steady open for European shares
(Reuters
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22/02/2012)
European stock futures pointed to a steady open for equities on Wednesday, with concerns that Greece might struggle to implement harsh austerity measures offsetting data showing China's manufacturing sector rose to a four-month high in February. At 0712
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‘Shariah compliance can boost value up to 25%’
(Gulf Times
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22/02/2012)
Converting a conventional business into a Shariah-principled entity can enhance the value of the company by 18%-25%, according to the Islamic Wealth Management (IWM) Report 2012. Moreover, the non-bankable assets of family-run companies needed further
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Canadian manufacturing sales surged in Dec
(Steelguru
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22/02/2012)
According to Statistics Canada, Canadian manufacturing sales advanced 0.6% to CAD 49.9 billion in December 2011. This is the fifth increase in six months. The transportation equipment industry led the gain. Sales increased in 12 of 21 industries
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Asia Stocks Swing Between Gain, Loss
(Bloomberg
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22/02/2012)
Asian stocks swung between gains and losses as concern that oil near a nine-month high will crimp economic growth was countered by a surge in Alibaba.com Ltd. (1688) and gains by telecommunications companies. Alibaba, China’s No. 1 e-commerce web portal,
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China Manufacturing Sector Contracts For Fourth Month
(RTT News
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22/02/2012)
China's factory activity shrank for a fourth consecutive month in February, as weak domestic demand as well as external weakness added downside risks to growth, a survey by Markit Economics revealed Wednesday. The rate of contraction in the manufacturing
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Hong Kong shares flat, developers lift China
(Guardian.co.uk
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22/02/2012)
Hong Kong shares slipped lower on Wednesday, with Li & Fung Ltd weaker after Wal-Mart Stores Inc, one of its key supply chain clients, reported quarterly profit and sales that fell short of Wall Street expectations. Losses in Hong Kong were stemmed by
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Nikkei rises above 9,500 after China PMI data
(Reuters
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22/02/2012)
Japan's Nikkei stock average extended gains in Wednesday's afternoon session to above 9,500 after data showed that China's manufacturing sector rose to a four-month high in February although it remained in contraction territory. The HSBC flash purchasing
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Nifty seen opening soft on subdued global cues; Kingfisher eyed
(The Economic Times
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22/02/2012)
The 50-share Nifty is expected to open soft on Wednesday tracking mixed Asian markets while investors will keep a close eye on Kingfisher Airlines after the airliner got some relief from banks and IT department. Beleaguered Kingfisher Airlines got some
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Bond yields up on absence of debt buy plan from RBI
(Reuters
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22/02/2012)
Federal bond yields rose in early trades on Wednesday as mood was dented with the Reserve Bank of India yet to announce a debt buy through open market operations for the week. At 9:07 a.m. (0337 GMT), the 10-year benchmark bond yield was at 8.21 percent,
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U.K. January Public Finances Improve Markedly
(RTT News
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22/02/2012)
U.K.'s public finances improved more than expected in January, logging the highest monthly budget surplus since 2008. The data suggests that the country will meet or even undershoot its budget targets despite headwinds from the economic front. Public
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Canadian Wholesale Sales, Inventories Up In December
(RTT News
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22/02/2012)
Canadian wholesale sales moved up in December helped by higher sales in motor vehicle and parts. Wholesale sales rose 0.9 percent in December to C$49.6 billion, mainly as a result of higher sales in the motor vehicle and parts, and the food, beverage and
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