Software stocks may see action
Software stocks may see action as the Indian rupee opened weaker today, taking the appointment of a new central bank chief in its stride, as it focused on concerns about a widening trade deficit. At 9:03 IST, the rupee was trading at 44.22/23 per dollar, compared with previous close of 44.17/18.
Cement makers ACC, Ambuja Cements, JK Lakshmi Cement and Ultratech have reportedly raised cement prices in Mumbai by Rs 3 per 50 kilogram bag.
Reliance Industries has reportedly dropped plans to acquire the polyester manufacturing unit of US-based polyester maker Unifi, in which it planned to invest about $250 million.
ICICI Venture-controlled Ranbaxy Fine Chemicals is close to buying US speciality chemicals maker Mallinckrodt Baker, a unit of healthcare group Covidien, for $340 million. ICICI Venture may put in $100 million as equity contribution, while the balance will be provided as debt by ICICI Bank. ICICI Venture is a wholly-owned unit of ICICI Bank.
Kinetic Motor Company said on Monday, 1 September 2008 its board approved an investment of Rs 29.5 crore in Mahindra Two Wheelers, its joint venture with Mahindra & Mahindra. The company will also sub-license the 'Kinetic' brand to Mahindra Two Wheelers for 25 years, it added.
State-run Union Bank of India reportedly plans to raise Rs 1000 crore via debt in a month's time. The bank has headroom to raise up to Rs 3500 crore and it would try to raise the amount by the end of 2008, the reports added.
01-09-2008 Reliance Industries may see action
Reliance Industries (RIL) has reportedly scrapped a plan to transfer an 80% stake in a deepwater block to four fully-owned units. Reliance, which owns 90% in the gas-rich D-6 block in the Krishna Godavari basin off India's east coast, had said last week it sent a proposal for the transfer to the government and was awaiting approval.
Besides this, RIL is reportedly planning to foray into nuclear power generation. As per reports, RIL is in talks with a French nuclear power company. RIL and the French company is looking for eight-ten sites in India.
State-run oil companies have reportedly cut aviation turbine fuel prices by 16%, or Rs 11,784 a kilolitre, with effect from Sunday midnight, due to softening international crude prices. However, major domestic airlines have ruled out cutting fares at the moment.
Credit Suisse is reportedly in talks with real estate firm Puravankara Projects to invest about Rs 550 crore in its low-cost housing unit Provident Housing & Infrastructure.
Tata Steel is reportedly scouting for iron ore deposits in Laos and has started prospecting some mines there. The company is already building an integrated steel plant in neighbouring Vietnam and will also have a 30% stake in an iron ore firm there, the reports added.
Shipping Corporation of India reportedly plans to revive its joint venture with Oil and Natural Gas Corporation (ONGC), to provide solutions in vessel operations for the explorer and other oil and gas firms. It is looking for a third partner for the venture, which was earlier planned in 2006.
Alok Industries is reportedly in talks with several private equity firms to sell 20% - 25% stake in its realty project in central Mumbai, for about Rs 300 crore.
Aban Offshore reportedly plans to raise Rs 1000 crore through a qualified institutional placement. The company has shelved plans to raise $500 million by sale of stake in its Singapore subsidiary, due to falling valuations, the reports added.
The board of TTK Prestige will meet today, 1 September 2008 to consider delisting the shares of the company from the Bombay Stock Exchange and the National Stock Exchange.
The board of Rain Commodities will meet today, 1 September 2008 to consider the proposal for buy back of equity shares of the company.
The board of Punjab Chemicals & Crop Protection approved acquiring 70% stake in Parul Chemicals, having an enterprise value of Rs 9 crore. The company also plans to spend about $25 million to expand its international portfolio.
Tyre major MRF will reportedly foray into the aviation tyre space with the unveiling of Aero Muscle, a product born out of in-house research and perfected over the last three years. Commercial production of aviation tyres will start in a new line at its Medak facility in Andhra Pradesh.
29-08-2008 Jai Corp may see action
Jai Corp reportedly plans to get into distribution and supply of city gas and liquified petroleum gas, an area primarily dominated by government-owned companies.
Bharat PetroResources, an exploration and production subsidiary of Bharat Petroleum Corporation, has reportedly bought 10% stake in an oil block in Mozambique for $75 million.
Tata Steel Global Holding Pte Ltd, the Singapore-based subsidiary that owns the international steel and mining assets of Tata Steel, is reportedly in talks to raise at least $1 billion through a private placement of shares.
Highway regulator National Highways Authority of India has reportedly prevented GMR Group and Madhucon Projects from bidding for a highway stretch in Andhra Pradesh and replaced them with two others, after a re-evaluation of bids.
Kinetic Motor Company will reportedly enter the used two-wheeler business, riding on Mahindra & Mahindra's (M&M) captive finance arm and network in the aftermarket segment. M&M owns 80% in the joint venture with Kinetic.
The board of Nectar Lifesciences has approved splitting each share into ten. It also approved raising $2.5 million through the issue of convertible warrants on preferential basis to two foreign funds.
The board of Mascon Global has approved raising about $150 million in the overseas markets. It is planning to raise $60 million through the issue of Global Depositary Receipts (GDRs), it said in a statement.
The board of IOL Netcom will meet on 4 September 2008 to consider raising funds through a mix of equity, debt, and other instruments.
Gitanjali Gems has reportedly pulled out of the race to buy US-based jewellery retail chain Whitehall due to differences on pricing.
Department of Telecommunications has issued a letter to Unitech's subsidiary company for allotment of 4.4 megahertz (MHz) of spectrum in 1,800 MHz Global System for Mobile (GSM) band in respect of Madhya Pradesh service area. With this, the firm have been allotted initial spectrum in 6 service areas out of total 22 service areas.
Zenith Computers on Thursday, 28 August 2008 unveiled EcoStyle PCs, including a Rs 11,999 desktop personal computers (PC) and a Rs 14,999 laptop. The company launched these products in collaboration with software major Microsoft. BUY BHARTI SHIPARD AND ABGSHIP YARD ON DECLINES WITH STRICT SL N SHORT TERM TRG8 OF ?
(29-08-2008 09:10 am) powered by c market
BSNL IPO NOT YET FINALISED
One of the indian telecom major Bharat Sanchar Nigam Ltd(BSNL) is not yet proposed its Initial Public Offer(IPO),telecom minister A.Raja said on thursday(AUG 7).He said if Bharat Sanchar Nigam Ltd(BSNL)entering into the indian stock market means ,Each BSNL employee is eligible to get 500 shares at Rs.10 per share(Face Value).For others,price band range will be around Rs 300-400(Not fixed) per share depends on the market condition.BSNL got Rs 20 billion from Department Of Telecommunications(DOT). this was happened due to TRAI's false decision so it has compensated from the revenues of private telecom companies went to BSNL.Also BSNL got a 3G spectrum block on Thursday.BSNL officials are telling that this Initial Public offer (IPO) will take another six months to get finalised.
Vintage one rupee coin auctioned for Rs 220,000 Posted: 17 Aug 2008 01:01
Inflation surges to 12.44 per cent
CBI raids LIC, bank officials in Rs.5 mn insurance fraud
Iron ore shortage closes 25 units in Chhattisgarh
Inflation rises to 12.44 percent, finance ministry 'disappointed'
EIH to invest Rs.6.Airport upgrade work at Kolkata, Chennai to begin in September 5 bn on two new hotels
NMCE to launch new futures contracts in 13 commodities
Indian inflation jumps in early Aug, policy seen tight
INSTANT VIEW - Indian annual inflation at 12.44 pct on Aug2
Indian rupee falls past 43/dlr to 1-month low on oil
Oil edges above $116 after rise on U.S. data
Posted: 14 Aug 2008 09:00 AM
Hot Pursuit
Now on Stands !CoverStory Weighed down
Deccan Aviation leads gainers in ‘A’ group (12/8/2008,16:38 Hours IST)Gammon India, Bajaj Holdings & Investment, Biocon and Jet Airways India are among the other gainers.
Landmark Property Development tops volumes on BSE (12/8/2008,15:20 Hours IST)RNRL, Chambal Fertilizers & Chemicals, Nagarjuna Fertilizers & Chemicals and Kaashyap Technologies are among the other volume toppers on BSE
Refinery stocks glitter on falling crude (12/8/2008,15:15 Hours IST)Three public sector refining stocks were trading mixed at 15:21 IST on BSE after crude oil prices continued their downtrend.
Central Bank of India slips after hiking lending rates (12/8/2008,14:41 Hours IST)Central Bank of India fell 1.08% to Rs 64 at 14:47 IST on BSE after the bank increased its benchmark prime lending rate by one percentage point to 14% with immediate effect.
Steel Strips Wheels shifts gears on strong sales in July 2008 (12/8/2008,14:40 Hours IST)Steel Strips Wheels soared 2.98% to Rs 121 at 14:40 IST on BSE after the company posted 20% growth in sales to 5.15 lakh units in July 2008 over July 2007.
SEL Manufacturing gains on expansion buzz (12/8/2008,14:13 Hours IST)
Metal shares fall as metal prices melt on LME (12/8/2008,14:13 Hours IST)
Biocon inches ahead after setting record date for bonus (12/8/2008,12:56 Hours IST)
Astral Poly Technik surges on new JV (12/8/2008,12:42 Hours IST)
Diversification powers KEC International (12/8/2008,12:41 Hours IST)
Trent gallops on Tesco deal (12/8/2008,12:18 Hours IST)
Buyback fails to cheer FDC (12/8/2008,12:11 Hours IST)
Indian Bank banks on hike in lending rates (12/8/2008,11:26 Hours IST)
L&T wins buyers but not investors (12/8/2008,11:26 Hours IST)
Expansion does not benefit Bharat Forge (12/8/2008,11:02 Hours IST)
Texmaco speeds up on demerger plan (12/8/2008,10:58 Hours IST)
UNICEF order boosts Panacea Biotec (12/8/2008,10:29 Hours IST)
Price hike buzz spurs Hindustan Unilever (12/8/2008,10:17 Hours IST)
SBI gains on hike in lending rates (12/8/2008,09:48 Hours IST)
S&P: Inflation measures to stall Asia growth
PM’s council to release economic outlook tomorrow
India ready to scrap duty on crude oil import from Brunei
Oil to resume climb above $150: Expert
IEA says oil price weighing on OECD demand
Inflation likely to touch 13-14 pc by Oct: ABN Amro Chief
Oil falls to 3-month low, IEA, Georgia in focus
IEA nudges up 2009 oil demand, sees higher supply
High interest rates take toll on industrial growth
Lamy: trade deal still possible by end-2008
McDonald’s shares fall 1.4 pc on UBS action
Posted: 12 Aug 2008 09:01 AM CDT
08-12-08
Markets witnessed spectacular rally as rate sensitives, infrastructure and oil stocks have played key role in todays trade. Fall in crude oil price below USD 116 a barrel and positive European cues also helped markets to remain strong. IIP numbers are expected to be around 5.6% (which will be announced on Tuesday) as against 3.8%. Markets have continued to gain on the back of buying in realty, banking, oil gas, capital goods, auto and power stocks. Midcap and small cap stocks are trading strong. European markets also maintained upmove following positive US markets cues
Mkts to consolidate in 13.517K range in few mths: MOST
Dhiraj Agarwal, CEO of PMS of Motilal Oswal Securities, believes market upside has been capped, but it\’s unlikely to head back to lows. Markets are likely to consolidate in 13,500 17,000 range for the next few months. Agarwal said the bulk of bad news have been factored in and price damage may be
Nifty to touch 4,600 today Positive cues from global markets and fall in crude oil prices will help the markets rally. The target for Nifty is 4600. The start should be good and markets will probably go back to the highs, which we saw early part of last week.
Buy Reliance Communications, target of Rs 508: KRChoksey
KRChoksey Research has maintained its buy rating on Reliance Communications with a revised target price of Rs 508. Revenue was Rs 5178 crore lower than research firm\’s expectations. Net sales declined 1% qoq in spite of an 11% increase in the subscriber base.
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