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Govt's stock mkt kitty zooms by Rs 6.5 lakh cr in 2009
The government could be among the least active investors in the stock markets, but it appears to have come out the winner in terms of returns--its equity portfolio appreciated by about Rs 10 crore in every minute of trade in 2009 resulting in a total gain of Rs 6,50,000 crore.

Nifty may breach 4,941 support
Though the Nifty closed slightly below 5,000 today, the trading volume in the put and call options suggests that bulls will find it difficult to hold on to this level.

News of the day

Pranab asks I-T Dept to meet tax mop-up target
Finance Minister Pranab Mukherjee today directed the Income Tax Department to make all efforts to achieve the revised direct tax target of Rs 4 lakh crore to contain the critical parameters of the economy, especially when there was slippage in indirect tax collections. He said this while addressing the All-India Conference on Tax Deduction at Source (TDS).
Corporate

Nomura posts Q2 profit at 27.7 bn yen

Financial services major Nomura Holdings has posted a profit of 27.72 billion yen in the second quarter, buoyed by strong growth in retail and asset management segments and expansion of its business overseas. - Citigroup drops $4.5 mn renovation plan: report - ING to sell US group reinsurance biz - Goldman Sachs Q3 profits surge to $3.19 bn - JPMorgan Chase Q3 net income soars to $3.6 bn - Geojit BNP Paribas Q2 net zooms 150% - No more close shaves Nomura, which last year acquired Lehman Brothers" operations in Asia, Europe and Middle East, had a net loss of 72.87 billion yen in the corresponding period a year-ago. "After one year of combined operations, the acquisitions have been a rounding success. These quarterly results demonstrate the solid performance of our retail and asset management businesses and the expansion of our international revenue base," Nomura President and CEO Kenichi Watanabe said in a statement. Moreover, Nomura has also declared a dividend of four yen per common share, which is expected to be payable on December 1, 2009. Net revenue for the second quarter stood at 300 billion yen, compared to 128.06 billion yen in the year-ago period.In retail business, the company"s pretax income was 26.4 billion yen, while net revenue stood at 93.2 billion yen. Nomura"s asset management booked income before tax at 4.5 billion yen and registered a net revenue of 16.5 billion yen in the second quarter. The company has recorded net asset inflows of 320 billion yen in the September quarter, the "highest in the Japanese asset management industry". Nomura"s second quarter also reflect the company"s strong base in Japan and its new platform established overseas. The brokerage firm increased its market share in Europe and Asia by expanding its client base and flow in businesses. Japanese firm has recorded a pretax income of 46.7 billion yen from global operations, while it recorded a net revenue of 174.5 billion yen in the September quarter of the year. In the investment banking segment, the company generated 20.9 billion yen in revenue, but booked a pretax loss of 9.7 billion yen.


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