Briefly Business

Stock market benchmark Sensex on Tuesday shed 82 points on profit booking,mainly in banking and metal stocks.

Sensex sheds 82 pts on profit-booking

Mumbai: Stock market benchmark Sensex on Tuesday shed 82 points on profit booking,mainly in banking and metal stocks,amid weak global sentiment. The Bombay Stock Exchanges 30-share barometer,that rose 137 points in the last session,ended at 20,221.39,down 81.73 points,or 0.40 per cent. The wide-based 50-share Nifty Index of the National Stock Exchange finished 0.39 per cent lower at 6,082.

PSU banks to recruit 85,000 staff in 3 years

New Delhi: Job seekers in the banking sector would have something to cheer about as public sector lenders are going to recruit around 85,000 people in the next three years to meet the manpower shortage. The PSBs have a tentative plan of recruitment of around 34,000 officers and 51,000 clerks during the next three years for 2010-13, the government said in a background paper for Economic Editors Conference.

Sebi to tighten disclosure norms

New Delhi: Market regulator Sebi on Tuesday indicated that it could tighten the disclosure norms fortransactions between related companies. There is a scope for improvement8230;,8221; Sebi Chief C B Bhave said. Related party transactions typically involve deals between group companies,companies involved in joint ventures or between a holding firm and subsidiaries.

Central Bank of India Q2 net rises 20.7

Mumbai: State-owned lender Central Bankof India recorded a 20.7 per cent rise in net profits at Rs 379.38 crore for the September quarter on the back of a whopping 135 per cent jump in its interest income. The banks net profit for the July-September quarter last fiscal was Rs 313.93 crore.

Dena Bank Q2 net jumps 29 per cent

Mumbai: Dena Bank,which posted a 29 per cent rise in profit at Rs 167 crore for the for the September quarter driven by a massive 94 per cent jump in net interest income,said it expects 22 per cent credit growth this fiscal,but warned that cost of funds will rise soon.

Tech Mahindra Q2 net up 10 pc to Rs 186 cr

Mumbai: IT company Tech Mahindra on Tuesday said its consolidated net profit rose by 10.13 per cent to Rs 186.65 crore for the second quarter ended September 30. The company had a net profit of Rs 169.47 crore in the same quarter last fiscal.