Inflation data, released after market hours Thursday, stood at 11.89 per cent in the 12 months to July 12, a shade down from the previous week's reading of 11.91 percent. But the central bank is unlikely to be persuaded to loosen monetary policy at its scheduled review next Tuesday, given that inflation has softened.
Crude oil prices were firm in Asian trade on Friday. New York's main contract, light sweet crude for September delivery, was at $ 125.51 per barrel against close of $ 125.49 previous day.
Reliance Industries reported 13 per cent increase in its first quarter net profit at Rs 4,110 crore from Rs 3,630 crore in the year-ago period. Turnover grew 38 per cent to Rs 43,050 crore. The results are seen as a bit of dampener on account of lower gross refining margins.
Tata Motors, whose wonder car Nano is eagerly awaited to hit the roads, is now developing an electric car, company Chairman Ratan Tata said today. The company is also developing an eco-car in Thailand and has plans to bring out a new range of world-class trucks, he said.
No memorandum of understanding (MoU) was signed between the companies of Mukesh and Anil Ambani groups, according to the legal counsel of Reliance Industries (RIL). Harish Salve, RIL���s lawyer said this while arguing on behalf of RIL at the Bombay High Court on Thursday. This adds a fresh twist to the on going dispute between the Ambani brothers on the sale of gas from Mukesh Ambani���s RIL to Anil���s Reliance Natural Resources (RNRL).
Reliance Infrastructure is tying up with Chinese banks to fund its proposed $3-billion joint venture with Shanghai Electric that will manufacture boilers, turbines and generators in India.
Pharma majors like Cipla, Ranbaxy and US Vitamin (India) may have to cough up over Rs 1,563 crore for overcharging customers on price-controlled medicines.
Results today: 3i Infotech, 3m India, Abb, Alphageo Ind, Alstom Projects, Amara Raja, Ambuja Cement, Andhra Bank, Anjani Portland, Barak Valley, Ceat, Deccan Cement, Dredging Corporation, Educomp Solution, Emami, Emkay Global, Engineer India, English Clay, Gateway Distriparks, Godrej Consumers, Grasim Indus, Gruh Finance, Gujarat Petronet, Gujarat State, Hawkins Cook, Hercules Hoists, Himadri Chemicals, Hindustan Motors, Hind Rectifiers, Hindustan Unilever, Hindustan Constructions, I-Flex, Indiabulls, Indian Hotel, Indus Ind Bank, IPCA Lab, Jindal Steel, JM Financial, Karur Vysya Bank, Machino Plastics, Mangalore Refineries, Mid-Day Multimedia, Modern Dairy, Modern Steel, Mphasis, Mukta Arts, Nagarjuna Fertilisers, Noida Toll Bridge, Oriental Bank, Panyam Cement, Pratibha Industries, Reliance Natural Resources, RPG Cables, Reliance Power, SRF, Take Solutions, Tata Power, Union Bank and United Breweries.
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