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BNP Paribas India mutual fund unit exits Satyam
MUMBAI: The Indian mutual fund venture of BNP Paribas has sold its entire holding in Satyam Computer Services, a top executive said on Wednesday.The fund house raised its holding in the embattled software firm tenfold in December to more than 5 milli...
Stocks seen ranged; global cues mixed
MUMBAI: Stocks are likely to remain rangebound on Tuesday after the recent rally on Indian bourses. Profit booking may be on the cards ahead of BSE Invest for long term Golden rules for investors Value stocks for 2009 the start of third quarter earni...
Rupee 48 paise stronger against dollar in early trade
MUMBAI: Rupee on Wednesday appreciated by 48 paise against the US currency in early trade on dollar selling by banks amid surging Asian equity markets.At the Interbank Foreign Exchange (Forex) market, the domestic currency traded at 49.11 against the...
Maruti Suzuki falls 4% on dismal Nov sales
MUMBAI: Maruti Suzuki shares took a beating Monday after the automaker posted dismal sales for the month of November.Maruti Suzuki registered 24.4 per cent fall in total sales at 52,711 vehicles in November 2008 as against 69,699 a year earlier. Dome...
Nifty firm above 2800;Unitech, Dr Reddys lead
MUMBAI: Equities continued to remain in positive terrain Monday as buying was seen across the board. Realty and metal stocks were in demand while auto stocks continued to languish.“Trend deciding level for the day is 9047 / 2741 (Sensex/Nifty). If ...
Call rate ends higher at 7.75%
MUMBAI: Call rate ended higher at 7.75 per cent on the Overnight call money market here today on good demand from borrowing banks.However, government bond prices showed a mixed trading due to alternate bouts of buying and selling.The overnight call m...
ONGC eyes IPO route for plant
NEW DELHI: Oil and Natural Gas Corp (ONGC) is looking at an initial public offering (IPO) of its subsidiary that is building a Rs 13,600 crore petrochemical plant at Dahej, closer to project completion in 2012.ONGC is considering selling up to 25% of...
Forget stock gains, you may lose dividends too
MUMBAI: After job cuts and pay cuts, India Inc is now wielding the axe on dividends. Several companies are expressing inability to pay dividend at the proposed rate, attributing it to factors like liquidity crunch, earnings slowdown and capex plans. ...
NHPC, advisor split over IPO
NEW DELHI: Despite the stock market crash, NHPC has been advised to go ahead with its proposed initial public offering (IPO). Citing examples of Rural Electrification Corporation (REC), NTPC and Tech Mahindra, one of the NHPC’s advisors Kotak Mahin...
Operating margins at 28% in Q2 FY09: Tech Mahindra
Tech Mahindra Q2 net profit increased to Rs 302.8 crore from Rs 258.7 crore in previous quarter. Its revenues went up to Rs 1,164.8 crore as against Rs 1,116.4 crore, QoQ.Vineet Nayar, Managing Director and CEO, Tech Mahindra, said the company’s op...
Mkts disappoint after yesterday’s pullback
It was an unexceptional day for the markets. We finally put on just about 175-points on the Sensex after starting the day nearly 600 points higher. The Nifty too lost most of its gains in the second half of the sessions. So, it has been a case of a g...
Hindalco spurts as rights issue scrapes through
Hindalco Industries jumped 5.39% to Rs 85 at 10:07 IST on BSE on reports the aluminium-maker’s Rs 5,047-crore rights issue managed to sail through due to underwriting by promoters and banks.Meanwhile, the BSE Sensex was up 419.93 points, or 4.02%, ...
Overseas acquisition lifts S.Kumars Nationwide
S.Kumars Nationwide jumped 10.07% to Rs 22.95 at 10:35 IST on BSE, after the company said its overseas unit SKNL Italy S.p.A. has finalized the purchase of Leggiuno S.p.A of Italy, a leading Italian high value shirting fabric enterprise.The company m...
US FDA nod for new drug does not benefit Aurobindo Pharma
Aurobindo Pharma was flat at Rs 195 at 11:14 IST on BSE, even as the company said on Monday, 13 October 2008, it has received final approval from US Food & Drug Administration for Risperidone tablets in multiple strengths.The company made this an...
Religare Enterprises slips after Sebi nod for mutual fund business
Religare Enterprises fell 0.22% to Rs 382.95 at 14:!6 IST on BSE even as the company received approval from the Securities & Exchange Board of India to launch mutual fund business in the country.The company announced thid during the market hours ...
GSPC plans IPO by January for raising $1 bn
NEW DELHI: Gujarat State Petroleum Corporation is likely to sell 10-15 per cent of Gujarat government equity holding to public through an IPO by January 2009 to raise about $1 billion."The IPO planning is in advanced stage. It was slated to hit the m...
Aban Offshore sets sail on new order win
Aban Offshore gained 1.42% to Rs 2341.25 at 15:07 IST on BSE, after the company said it has secured a five-year contract for the deployment of its semi-submersible rig Aban Pearl offshore Latin America.The company made this announcement during tradin...
Sensex falls below 14,000 mark on intense selling
The BSE Sensex provisionally closed 383.76 points or 2.68% lower at 13,940.53 on heavy selling pressure in index pivotals in late trade.The Indian market today underperformed the world boursres. Stocks rose in Asia and Europe on optimism that talks a...
Essar Shipping & Logistics leads gainers in ‘A’ group
National Aluminium Company, Maruti Suzuki India, Steel Authority of India and Bajaj Auto are among the other gainers.Essar Shipping & Logistics spurted 4.98% to Rs 81.20. The scrip topped gainers in BSE's 'A' group.National Aluminium Company jump...
Era Infra Engineering in demand
Era Infra Engineering rose 1.57% to Rs 484.85 at 11:31 IST on BSE after the company announced book closure for the purpose of 5-for-1 stock split.Meanwhile, the BSE Sensex was down 61.90 points, or 0.41%, to 14,838.86.On BSE, 3,915 shares were traded...
Stocks in News: Hindalco, JP Asso, Pyramid Saimira
Stocks in NewsLIC may get to retain stake in blue chip cos over 10%, but may limit its new investments to 10% - ETGroup Mexico plan to win back Asarco control, plans to pump $2.7 bn - Agencies (Sterlite is fighting a control over Asarco)Jaiprakash As...
Stocks in News: Hindalco, JP Asso, Pyramid Saimira
Stocks in NewsLIC may get to retain stake in blue chip cos over 10%, but may limit its new investments to 10% - ETGroup Mexico plan to win back Asarco control, plans to pump $2.7 bn - Agencies (Sterlite is fighting a control over Asarco)Jaiprakash As...
Asia stocks plumb 2 year low on growth fears
HONG KONG: Asian stocks fell to a two-year low on Wednesday, down 30 percent from a peak hit in November, as the past month's $30 drop in the price of oil has not been enough to shake a sense of fear about sharply slowing global growth.World stock ma...
FII action in options, weak global cues raise worry
MUMBAI: Weak cues from global markets and surge in crude oil prices will offset the positives like call buying by bulls at 4400 and 4500 levels and put writing at strikes 4400 and 4300 expecting some short term pull-back and widened futures premium. ...
Copper may open flat, gold seen up
MUMBAI: Copper futures are expected to open sideways to up on Wednesday tracking overseas markets, an analyst said.The benchmark August copper on the Multi Commodity Exchange of India (MCX) closed on Tuesday at 329.15 rupees. It may open around 330-3...
HEG spurts on setting buyback price
HEG gained 5.35% to Rs 278.80 at 09:57 IST on BSE after the company’s board approved buyback of equity shares at a maximum price of Rs 350 per share for an aggregate amount not exceeding Rs 48.50 crore.The company announced this after market hours ...
Delisting plan fuels Bhuruka Gases
Bhuruka Gases was locked at upper limit of 5% at Rs 31.60 at 12:09 IST on BSE after its board approved delisting shares of the company from the stock exchanges.The company made the announcement after market hours yesterday, 7 August 2008.Meanwhile, t...
Zylog Systems drops after overseas tie-up
Zylog Systems declined 4.28% to Rs 247 at 12:55 IST on BSE even as the company said it has formed an alliance with Kamakura Corporation Honolulu, Hawaii for marketing and implementing kamakura risk manager system in South Asia.The company made this a...
Financial Technologies hardens
Financial Technologies (India) jumped 3.93% to Rs 1424.10 at 11:43 IST on BSE on reports its subsidiary, the Multi Commodity Exchange, has sought regulatory nod for trading in currency futuresFinancial Technologies holds 32% in the Multi Commodity Ex...
New order energies Bhel
Bharat Heavy Electricals jumped 3.93% to Rs 1840 at 14:54 IST on BSE after the company won first ever contract for supplying 800 mega watts supercritical boilers.Meanwhile, the BSE Sensex was up 150.51 points, or 0.94%, at 15101.03 on strong cues fro...
