Syndicate Bank does not count among the market’s favoured bets in the banking sectors at the moment. In the last one year, the bank’s shares tanked 21%, compared to a 14% decline in the benchmark Bankex. Declining profits and lack of a clear growth plan were the key factors for the underperformance.
Courtesy: Moneycontrol

Ace investor Rakesh Jhunjhunwala today increased his stake in visual entertainment services firm Prime Focus by acquiring additional shares worth Rs 11 crore through open market transactions.
Courtesy: Moneycontrol

Air India’s board today approved a plan to raise Rs 5,000 crore over 10 years by monetising its assets to repay loans extended to it by the government and it lenders.
Courtesy: Moneycontrol

Northern Iron Ltd has rejected a takeover proposal worth up to USD 500 million from India’s Aditya Birla Group, but the Australian firm left the door open on Tuesday to a higher offer.
Courtesy: Moneycontrol

Prices of colour televisions, air conditioners and computer monitors may come down soon, as the Finance Ministry has decided to apply uniform rate of abatement for levying excise duty on various electronic consumer durables.
Courtesy: Moneycontrol

Moody’s cut its rating for state-run Life Insurance Corp of India (LIC) two weeks after it put the country’s largest portfolio investor under review for a downgrade over its high exposure to sovereign debt and lack of revenue sources outside of India.
Courtesy: Moneycontrol

Experts join CNBC-TV18’s Latha Venkatesh to discuss how banks will tackle with the double whammy of Basel III norms and rising NPAs.
Courtesy: Moneycontrol

This episode of CNBC-TV18’s special show Storyboard discusses the latest trends in the digital space with senior vice president and chief business officer of Google Nikesh Arora.
Courtesy: Moneycontrol

There seems to be no end in sight to the Air India crisis. The pilots’ strike entered the fifth day on Saturday and passengers continued to suffer as 15 international flights were cancelled.
Courtesy: Moneycontrol

State-owned Central Bank of India is pushing ahead with plans to expand its retail presence with a kitty of diverse products. According to Ram Sangapure, General Manager – retail, it is eying 45% retail growth in FY13 to be driven by special loan scheme for micro, small and medium (MSME) sector, mortgage, home and gold loans.
Courtesy: Moneycontrol