Briefly Business: RBI says it will step in if growth moderates further

RBI says it will step in if growth moderates further

Mumbai: The Reserve Bank on Wednesday said it will step in if economic expansion falls below 5.5 per cent. "We will certainly respond if growth moderates," RBI Governor D Subbarao said to a query whether RBI will intervene if growth falls below 5.5 per cent.

Cairn India declares maiden dividend

New delhi: Cairn India, majority owned by Vedanta Group, on Wednesday declared its maiden dividend of Rs 5 per share.

IDBI slashes home loan, deposit rates

Mumbai: IDBI Bank slashed interest on home loans by 0.25 per cent and deposit rates in select brackets by up to 0.50 per cent.

Retail inflation eases marginally to 9.14%

New delhi: Retail inflation for industrial workers in September declined marginally to 9.14 per cent from 10.31 per cent in previous month.

Biocon Q2 profit up 5% to R90 crore

New Delhi: Biotechnology major Biocon on Wednesday posted 4.6 per cent jump in its consolidated net profit to Rs 89.65 crore for the second quarter ended September 30, on the back of growth branded formulations business. The company had a net profit of Rs 85.70 crore in the same period of previous fiscal, Biocon said in a statement. The net sales of the company rose to Rs 592.40 crore for the second quarter from Rs 505.39 crore in the same period of 2011-12 fiscal. During the period under review, the company said its branded formulations business recorded a robust growth of 45 per cent. The Bangalore-headquartered firm said GE Equity International Mauritius, a subsidiary of GE Capital, will make a private equity investment in research services arm of Biocon — Syngene International — of Rs 125 crore for a 7.69 per cent equity share.

TVS Motor posts 41% dip in Q2 PAT at R45 cr

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