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Scrap sales up 30% on profit-taking
The sales of used gold, known as scrap gold in commodity parlance, shot up 25-30 per cent on Wednesday as retail investors rushed to cash in on high prices before a correction, which analysts forecast as imminent.

Infosys: Value at home
Infosys Technologies intends to ramp up business in the domestic market. It recently set up an India-dedicated unit within Infosys BPO — its business process outsourcing arm. The order book has already begun to see action, inform company executives. The domestic BPO arm has won a Rs 250-crore BPO contract from the income-tax department and is soon going to sign a letter of intent for another government deal, says Infosys BPO CEO and Managing Director Amitabh Chaudhry.

News of the day

M J Antony: Lending public money
M J Antony / New Delhi December 16, 2009, 0:59 IST
Corporate

Tata Steel erases losses, ends flat

The scrip rebounded into the positive to touch a high of Rs 553 and finally ended flat at Rs 545. The counter clocked volumes of 4.67 million shares as compared to the two-week daily average traded volumes of 2.44 million shares on the BSE. _____________________________________________________ (Updated at 1017hrs) F&O OUTLOOK: Downside limited from current levels US markets end in the green The steel major posted a consolidated net loss of Rs 2,719.8 crore for the September quarter, compared with a net profit of Rs 4,703.6 crore in the corresponding quarter last year. Consolidated net sales during the period fell to Rs 25,269.8 crore from the previous year’s Rs 44,050 crore, down 42.6 per cent. Business restructuring also took a toll. During the quarter, Tata Steel had to shell out Rs 911 crore as restructuring costs. Poor performance in Europe added to the company"s woes.


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