Spot-Fixing Scandal
Scandal engulfs Indian cricket; web of players, bookies faces scrutiny
Cricket, the "gentleman's game", has been hit by a series of gambling-related scandals in international matches in recent years. But S.Sreesanth's case is the first time allegations of "fixing" in the IPL are being heard in a court of law, despite a huge, illegal betting industry that has grown up around the tournament. Full Article
REUTERS SHOWCASE
 |
Deflated expectations
Breakingviews columnists discuss the implications of inflation being in decline globally. Video
Revenge of Markets
For months, markets have been dancing to central bankers' tune, but that may now be changing, writes James Saft. Full Article
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
Crompton Greaves drops on earnings worries
Reuters Market Eye - Shares in Crompton Greaves Ltd (CROM.NS) drop as much as 11 percent after the power equipment makers said on Friday net profit dropped 64 percent in the July-September quarter.
Citigroup downgrades the stock to 'neutral' from 'buy' saying earnings were lower than expected due to losses related to the ongoing transfer of production from Belgium to Hungary, and lower margins in its consumer business.
Citigroup also cuts the target price to 129 rupees from 152 rupees, saying Crompton Greaves' cut in fiscal 2013 guidance hinted at a "bumpy" couple of quarters ahead.
"We now believe margin recovery will likely take longer than previously expected and that CG will remain range bound unless management starts delivering on its stated targets," Citigroup says in a note dated on Monday.
Crompton Greaves shares down 8.5 percent at 112.35 rupees as of 10:10 a.m.
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters