Profit Top 10: February IIP to affect RBI policy; FDI in aviation decision deferred

• February Industrial Production slows to 4.1%
• Decision on FDI in aviation next week, airline shares fall: Top 10 developments
• Air India to get Rs 30,000 cr fund infusion by 2020
• Q4 Preview: Infosys results tomorrow
• Maruti Ertiga launched: Priced between 5.89 to 8.45 lakh
• Company Law Board refers Uninor dispute to arbitration
• Turner’s Imagine TV to be shut
• Preview: March inflation could ease to 6.7%
• Japan MS&AD paying $530 mn for New York Life's India JV stake
• Gold traders stock up ahead of Akshaya Tritiya

February Industrial Production slows to 4.1%

India’s index of industrial production (IIP), a key measure of industrial output, grew at 4.1 per cent in February 2012, much lower than the expected 6.6 per cent. Additionally, the IIP number for January 2012, earlier reported at 6.8 per cent, was revised downward to 1.1 per cent. India’s chief statistician TCA Anant said the error was a ‘one-off’ because of over-reporting of sugar production. (Read More)

The data comes a week ahead of the much awaited credit policy announcement by the Reserve Bank of India. According to Pranab Mukherjee, the industrial output data would “have a bearing on the monetary policy announcement next week”. (Read More)

VIDEO: NDTV Experts on February IIP: India's industrial output grows 4.1%

Decision on FDI in aviation next week, airline shares fall: Top 10 developments

The Union Cabinet will likely decide on allowing foreign carriers to invest in domestic airlines next week. This could be a lifeline for cash-starved and debt-laden carriers like Kingfisher Airlines. It was earlier expected to take a decision in the meeting on Thursday. (Read More)

Here are latest developments

Air India to get Rs 30,000 cr fund infusion by 2020

The Union Cabinet on Thursday approved a turnaround plan for embattled national carrier Air India. The government will also consider a small stake sale, Civil Aviation Minister Ajit Singh said, but added that the government will continue to be the majority stakeholder.

The plan envisages a massive fund infusion into the airline, debt restructuring, and higher operational efficiency.  (Read More)

Here are 10 things about the turnaround plan you need to know.

Q4 Preview: Infosys results tomorrow

Information technology major Infosys will kick off the March quarter earnings season on Friday. Infosys' earnings guidance has for long been regarded as the software industry's benchmark. This time analysts expect the company to announce a special dividend too. A special dividend is a one-off payment to shareholders. 

Here are 10 things to know before Infosys reports its quarterly numbers tomorrow.

However, India's leading software exporters are expected to face a challenging year ahead in the United States market due to growing competition, an uncertain global economy and rising rhetoric against the shipping of jobs to low-cost locations ahead of the November presidential election. (Read More)

Also Read: Expect Wipro to beat Infosys in Q4: Bhavin Shah

Maruti Ertiga launched: Priced between 5.89 to 8.45 lakh

After ruling the hatchback segment for years, Maruti Suzuki has finally taken the plunge into the multi-purpose vehicle (MPV) market by launching its seven-seater Ertiga on Thursday. The MPV has been priced between Rs 5.89 lakhs and Rs 8.45 lakhs—significantly lower than its competition, Toyota Innova and Mahindra’s Xylo. Based on the same platform as the Swift, the Ertiga will take the fight to segment leader Toyota Innova and Mahindra's Xylo.  (Read More)

Meanwhile, the stock market cheered the new arrival as Maruti Suzuki shares rose 3 per cent on hopes for improved sale. (Read More)

Company Law Board refers Uninor dispute to arbitration

Dismissing Norwegian telecom firm Telenor's plea against its partner Unitech, the Company Law Board (CLB) on Thursday referred the dispute over management control and transfer of assets of their joint venture, Uninor, to arbitration.

Allowing the plea of Unitech, CLB chairman Justice B.R. Deshmukh ordered that the issue relating to valuation of the real estate firm's stake in Uninor and other matters to Singapore arbitration as per the clauses of their shareholding agreement.  (Read More)

Turner’s Imagine TV to be shut

US-based Turner Broadcasting System, a Time Warner company, has decided to shut its Hindi general entertainment channel Imagine TV in India as poor ratings hampered any further investment in it, Siddharth Jain, managing director, South Asia, Turner International India said. The channel will be shut with effect from Thursday, Jain said on Thursday. (Read More)

Preview: March inflation could ease to 6.7%

India's wholesale price inflation rate likely slowed marginally in March as easing price pressures from non-food items offset persistently high food and fuel costs, a Reuters poll showed. The median consensus from a survey of 30 economists pinned expectations for headline inflation at 6.70 percent for March from a year ago, less than the higher-than-expected 6.95 percent in February.  (Read More)

Japan MS&AD paying $530 mn for New York Life's India JV stake

Japan's MS&AD will acquire New York Life's 26 per cent stake in a joint venture with Max India for about $530 million, in another example of Japanese companies' growing appetite for overseas assets.

MS&AD Insurance Group, Japan's largest property-casualty insurer by revenue, is among the industry's most aggressive in expanding in Asia through acquisitions, buying both life and non-life assets to secure growth beyond its weak home market. (Read More)

Gold traders stock up ahead of Akshaya Tritiya

Gold traders in India, the world's biggest buyer of the yellow metal, stocked up for upcoming key festivals and the ongoing wedding season as prices extended losses for the second straight session. 

The most-active gold for June delivery on the Multi Commodity Exchange (MCX) was at Rs 28,568 per 10 grams, down 0.23 percent from Tuesday's close. (Read More)