BSE Sensex, Nifty Flat Ahead of Coal Block Verdict

BSE Sensex and Nifty struggled today in the early trade as traders remained cautious of the Supreme Court ruling on coal blocks.
The top court will pronounce its verdict at 2 pm on 218 blocks whose allocation was declared illegal by it.
Read More....

SpiceJet launches scheme for MSME travellers

Sharemasterindia.com: Budget airline SpiceJet launched a scheme for travellers from micro, small and medium medium enterprises (MSME), offering them up to 10 percent discount on fares.
The private carrier unveiled what it claimed was first-of-its kind dedicated self-booking platform, ‘SME Traveller’, for air travellers for this corporate segment, offering flexibility and savings on every booking. Under the platform, MSME executives can avail up to 10 percent discount and collect “Spice Points” upon each completed travel, among other benefits, the airline said in a release here this evening.Read More...

Jet Airways in focus on plan to expand international operations from November

Sharemasterindia.com: Jet Airways (India) said it will expand international operations from November 2014 with a view to provide connectivity from four more Indian cities to Abu Dhabi and other international destinations. Jet Airways’ will launch flight services from Ahmedabad, Goa and Lucknow to Abu Dhabi and beyond from 14 November 2014, the airline said in a release.
Titan Company said its board has approved the invitation and acceptance of deposits from customers for jewelry purchases under the Companies (Acceptance of Deposits) Rules, 2014. Read More....

Haemorrhaging talent, Infosys’ new CEO allows staff to use Twitter, Facebook

Sharemasterindia.com: Infosys Ltd’s new CEO has come up with a novel approach to reviving the financial fortunes of India’s trailblazing outsourcing firm: use Facebook at work, tweet, but get the job done.
Infosys has long been run as a conservative company known for keeping strict tabs on work hours and sometimes fining employees for not wearing ties on specific days. Such cheerless self-regard could not have come at a more challenging time, analysts say.

In the last few years, the former bellwether of India’s outsourcing industry has lagged rivals in winning contracts from the West, torn between chasing high-margin projects and low-margin bread-and-butter IT deals.Read More.....

PNB Seeks to Bring Down Government Stake to 51%

The recent surge in equity markets has opened up opportunities for state-run banks to raise capital to boost their balance sheet, which has taken a hit due to a surge in bad loans.

KR Kamath, chairman and managing director at Punjab National Bank

Recently the Punjab National Bank (PNB) board passed a resolution to raise funds either through qualified institutional placement (QIP) or follow-on public offering (FPO) or rights issue.

The government of India currently holds 58.87 per cent stake in PNB. Speaking to NDTV, KR Kamath, chairman and managing director at Punjab National Bank, said, “We are approaching the government to reduce the shareholding to 51 per cent or 52 per cent, whichever the government deems correct.” Read More...

BSE Sensex, Nifty Flat; IT Stocks Gain

Sharemasterindia.com: BSE Sensex and Nifty were steady in the early trade with IT stocks supporting the market while some profit-taking was seen in capital goods and FMCG stocks.
The Sensex was up 27 points to 27,234.46 while Nifty rose 8 points to 8,154.
Elsewhere in other global markets, Asian shares recouped early losses on Tuesday after a reading on China’s massive factory sector outpaced the market’s bleak expectations. Read More...

Airlines Oppose Modi Govt’s Regional Connectivity Plan

BANAGALORE (Sharemasterindia.com): The NDA government’s proposal to promote regional connectivity has suffered a setback as private airline operators have opposed the move based on their current financial state.

Indian carriers had reported losses of $1.7 billion in Fy14 and is estimated to incur losses to the range of $1.4 billion in Fy15.

The Union government had asked private carriers to deploy 100 per cent of trunk route capacity on regional routes among other requirements. Agencies reported that full service carrier Jet Airways had asked for a rethink on the policy and reduce it to 50 per cent as regional routes could cause overcapacity. Continue Reading