L&T looks overseas to offset weak home market; Q4 net profit falls
India's largest engineering and construction group, will look overseas to offset a weak economy and project bottlenecks at home that led to a bigger-than-expected profit drop. Article | Full Coverage
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MARKET EYE-SGX Nifty up; FIIs invest over $20 bln in 2012
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* Nifty futures on the Singapore Exchange up 0.48 percent. The MSCI-Asia Pacific index excluding Japan also gains 0.57 percent. * Asian shares were little changed on Wednesday, with prices capped by continuing concerns over whether the United States can avert an economic slump as lawmakers struggle to break a budget impasse by year end. * Foreign investors bought 5.4 billion rupees of stocks, while domestic institutions sold 4.34 billion rupees on Tuesday, when the BSE index gained 0.22 percent. * FII investments in stocks have reached 1.06 trillion rupees ($20.23 billion) so far in 2012, on the back of reform initiatives taken by the government. * Lower house of India's parliament will likely vote on Wednesday on supermarket reform. * Analysts say market's movement will depend on the outcome of the parliament vote. (manoj.dharra@thomsonreuters.com)
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