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May 2014

L&T confident of recovery in domestic demand; Q4 profit outstrips estimates

May 31, 2014 by sknlakshmi

Larsen & Toubro Ltd (L&T), India's biggest engineer, said on Friday it expected a gradual recovery in domestic demand this year, aided by government efforts to fast-track stalled projects that will help its new orders grow by a fifth.

Seen as a bellwether of the Indian economy, the firm has spent the past few quarters bolstering its business of building roads, trains, ships and power plant equipment by expanding overseas to offset weaker demand at home.

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Economy expands 4.7 percent in FY14, looks to Modi for rebound

May 31, 2014 by sknlakshmi

India's economic growth picked up marginally from a decade low in the fiscal year ended March, but pro-business Narendra Modi's thumping victory in the recent general election has stoked optimism of an investment-led turnaround in the coming quarters.

Asia's third-largest economy grew 4.7 percent in 2013/14, slower than an official estimate of 4.9 percent and higher than 4.5 percent growth a year earlier. It marks the second straight year of sub-5 percent growth - the worst slowdown in more than a quarter of a century.

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U.S. backs Japan's Abe, tells China to stop destabilising actions

May 31, 2014 by sknlakshmi

The United States threw its weight on Saturday behind a push by Japan to take a more active role in regional security and bluntly warned China to halt destabilising actions in support of territorial claims.

Using unusually strong language, U.S. Defense Secretary Chuck Hagel told an Asia-Pacific security forum that the United States was committed to its geopolitical rebalance to the region and "will not look the other way when fundamental principles of the international order are being challenged".

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China indicts eight for Tiananmen car attack - Xinhua

May 31, 2014 by sknlakshmi

Prosecutors in western China have indicted eight people over an attack on the edge of Beijing's Tiananmen Square last October when a car ploughed into a crowd and caught fire, state media reported on Saturday.

Three people in the car and two bystanders were killed in the attack which the government blamed on separatist militants from the western region of Xinjiang. Forty people were hurt in the attack.

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Equity market - weekly market update

May 31, 2014 by sknlakshmi

Market review – for the week ended 30 May 2014

Market declined in the week ended Friday, 30 May 2014, on profit booking after logging gains in prior three weeks. The Sensex logged decline in three out of five trading sessions in the week just gone by. Among the 30-share Sensex pack, 19 stocks declined and rest of them gained in the week ended Friday, 30 May 2014. Sensex declined 1.92% to 24,217.34 and Nifty fell 1.86% to 7,229.95 for the week ended 30 May 2014.

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