US lobby group changes its stand over India

Washington: A top American lobbying group which represents the strong manufacturing sector in the US has changed its anti-India stand stating the Narendra Modi-led government offers hope and optimism for Indo-US ties.

"Manufacturers in the US are optimistic that we have before us an important opportunity to put the US-India economic relationship back on track," Jay Timmons, president and CEO, National Association of Manufacturers said.

S&P ends at new record on strong services sector growth data

New York: U.S. stocks edged up on Wednesday with the S&P 500 finale at a new evidence as investors brushed off weaker-than-predictable work market data and paying attention on an stepping up in services-sector expansion.

But trading volume sustained to be light as investors took a wait-and-see move toward ahead of the European Central Bank rule meeting on Thursday and the U.S. government`s May nonfarm payrolls statement on Friday.

JP Morgan downgrades RIL to ''neutral''

Mumbai: JP Morgan downgraded Reliance Industries Ltd to "impartial" from "plump", saying share prices by now imitate positive catalysts even as basics stay on "a solid footing".

"While we linger helpful on Reliance Industries` policy of natural expansion in core businesses, we suppose the present share price by now reflects the helpful catalysts that were recognized in our promote in 4Q CY13," JP Morgan said in a note dated on Wednesday.

RBI opts for status quo, promises rate cut if inflation drops

Mumbai: Continuing to accept vigilance, the Reserve Bank on Tuesday kept notice rates unmoved but promised to ease them if there is sooner disinflation even as it made clear that the important ballot vote results could effect in inclusive policy events.

However, the central bank in its bi-monthly policy appraisal not closed about Rs 40,000 crore of banking funds by wounding the constitutional liquidity ratio (SLR), the part of deposits banks park in government bonds, by 0.5 percent to 22.5 percent.

Core sector output rises 4.2% in April

The output of eight core industries augmented 4.2 per cent in April, boosted by senior power, manure and cement manufacture.
The coal, basic oil, natural gas, processing plant products, fertilizers, steel, cement and power sectors had prolonged 3.7 per cent in the same month last year. expansion in these industries decelerated to 2.7 per cent in 2013-14.