Our vision should have been in use on Lavasa notice, Agri Min says

Offended by the Union Environment Ministry’ court order notice to Lavasa hill city venture, Agriculture Minister Sharad Pawar tod that his Ministry’s view should have been required earlier than when the notice was given.

2G rip-off: Administration is performing an excellent work, Sunil Mittal explains

Telecom Minister Kapil Sibal had told that accomplishment would be implemented in opposition to 85 firms that get hold of 2G licenses in the term of A. raja. Telling that the entire 85 licenses would be investigated independently, Sibal clued-up that the entire telecoms would be provided 60 days to reply.

Market climbs 8.9 percent in September quarter

India’s financial system climbs higher than projected in the quarter during September, improved by farm productivity and built-up, laying anxiety on the Reserve Bank of India (RBI) to stiffen fiscal guidelines but a rate increase in the following month still appears improbable.

RIL sales might plunge on waning manufacturing at KGD1D3

Reliance Industries lead might get a hit by waning manufacturing at KGD1D3. Even though KGD1D3 expansion arrangement told that the lumps would create 60 mmscmd per day. The actual dropping manufacturing may hit the firm’s proceeds by almost $500 million.

IFCI targets preponderance venture, administrative power in TFCI

IFCI is targeting preponderance venture and administrative power in Tourism Finance Corporation of India (TFCI). The firm is seeking to introduce five fresh associates and change one on hand associate on TFCI board.

BSE Sensex climbs 0.6% as every sector advances but oil and gas

The BSE 30-share Sensex jumped 116.15 points or 0.6% to 19,521.25. The Sensex surged 205.36 points at the day's high of 19,610.46 in afternoon trade. The index lost 187.08 points at the day's low of 19,218.02 in early afternoon trade.

The S&P CNX Nifty was up 32.70 points or 0.56% at 5,862.70.

The total turnover on BSE amounted to Rs 4659 crore, higher than Rs 4033.48 crore on Monday, 29 November 2010.

The BSE Mid-Cap index rose 1.39% and the BSE Small-Cap index rose 1.9%. Both these indices outperformed the Sensex.

Except BSE Oil & Gas index, all the other sectoral indices on BSE rose. BSE Realty index (up 5.67%), Consumer Durables index (up 2.08%), Power index (up 1.38%), PSU index (up 1.73%), FMCG index (up 1.38%), Auto index (up 1.37%), BSE Bankex (up 1.15%), outperformed the Sensex.

The BSE Oil & Gas index (down 0.56%), IT index (up 0.21%), Capital Goods index (up 0.44%), Metal index (up 0.44%), Healthcare index (up 0.55%) underperformed the Sensex.

Market Breadth:

Positive 2008 Negative 929 Unchanged 75
From the 30 share Sensex pack, 19 rose and rest fell.

Artson Engineering obtains purchase costing Rs 106 crore

Artson Engineering Ltd has clued-up BSE that the firm has obtained a purchase from Petrofac International Limited, Sharjah, United Arab Emirates, for implementation of 192 KM conduit project to be implemented in Kuwait.

Another Fiscal Year 2011 expenses observed under $22 billion

The entirety extra expenses by the administration for the fiscal year that finishes in March 2011 would be under Rs 1,000,000 crore ($ 21.8 billion), a senior fiscal ministry representative told on yesterday.

October infrastructure productivity climb to 7 percent, the administration says

India’s infrastructure division productivity climbs to 7 percent in October from the previous year, quicker than an upwardly amended yearly development of 2.7 percent in September, administration account demonstrated on Tuesday.

Avoid looking at RBI tapering additional interest rates, Maruti says

India’s gross domestic product (GDP) for the following quarter has developed to 8.9 percent versus 8.7 percent year-on-year (YoY). The much anticipated GDP account has witnessed farm productivity shove up the GDP level owed to fine torrential rains.

Boredom hits SCI FPO despite fair cost

Shipping Corporation of India (SCI), one of India’s biggest shipping firms, has given their follow-on public offering (FPO) at present. The price band has been laid down at Rs 135-140 apiece with the industry seeking to create Rs 1,100 crore.

MOIL IPO invested 12.4 times

MOIL’s (formerly Manganese Ore India) initial public offering (IPO) has obtained awesome retort coming from the qualified institutional investors (QIBs). The matter, which will close down on the following day, has invested 12.4 times hitherto.

Indian Bank FPO to appear in the market by June 2011

Follow-on public offer (FPO) of Indian Bank will be released in the market by June 2011, according to bank Chairman T M Bhasin. The bank will appear with FPO to climb Rs 1600 crore and will weaken equity by 10 percent.

BSE Sensex surges 1.4% as market in upturn

The BSE 30-share Sensex jumped 268.49 points or 1.4% to 19,405.10. The Sensex rose 313.48 points at the day's high of 19,450.09 in late trade. The index rose 30.58 points at the day's low of 19,167.19 in early trade.

The S&P CNX Nifty was up 78.05 points or 1.36% at 5,830.

The BSE Mid-Cap index rose 0.71% and the BSE Small-Cap index rose 0.51%. Both these indices outperformed the Sensex.

All the sectoral indices on BSE rose. The BSE Oil & Gas index (up 2.69%), BSE Bankex (up 1.54%), Healthcare index (up 1.45%) outperformed the Sensex.

The BSE Consumer Durables index (up 1.36%), Capital Goods index (up 1.21%), IT index (up 1.21%), PSU index (up 1.12%), FMCG index (up 0.91%), Realty index (up 0.88%), Auto index (up 0.86%), Metal index (up 0.86%), Power index (up 0.4%), underperformed the Sensex.

Market Breadth:

Positive 1469 Negative 1512 Unchanged 61
From the 30 share Sensex pack, 23 rose and rest fell.

Claris Life slashes IPO price band

Claris LifeSciences has slash price band and lengthened the deadline for its Rs 300 crore initial public offering (IPO). The firm has lay down a fresh price band of Rs 228-235 and the deadline now awaits at December 2, according to two reliable sources whose names are classified.

Shipping Corporation investment sale ties at Rs 135-140 apiece

India’s own Shipping Corporation of India has predetermined the analytical cost tie for its ensuing investment sale at Rs 135 to 140 apiece, two reliable sources of the state of affairs told on Friday.

Administration to take steps in opposition to telcos this week

Telecoms ministry might pronounce this week, various step in opposition to telecom businesses who infringed laws. The administration hopes to check on a state auditor’s account that a few disqualified companies had won authorizations in 2008 in a multi-billion rip-off that has directed to the withdrawal of the telecom minister.

GMR to dissociate from 50 percent in InterGen

India’s GMR Group told on Sunday that it has settled to dissociate from its 50 percent venture in US-based power services Intergen to China Huaneng Group for $1.23 billion to spotlight more on the Indian market.

CBI investigating mortgage canceled by banks

The Central Bureau of Investigation (CBI) is eyeing into bad mortgage cancelations by some banks and fiscal organizations engaged in an inducement of mortgage rip-off. Two of the banks, Punjab National Bank and Bank of India, have canceled about Rs 400 crore ($87 million) in the initial three months of financial year 2010-2011.

Videocon partnership finds gas in Mozambique

Videocon Industries told on Monday that its joint venture with Anadarko Petroleum, BPRL Ventures, Mitsui E&P and Cove Energy has revealed main natural gas existence in Rovuma basin of Mozambique. With three findings in the area, the joint venture is in a progression of innovating commercialization opportunities for liquefied gas.

Fortis arranges pan-Asia extension and choose CEO for its international arm

Singapore-based Fortis Global Healthcare Holdings, a business owned by India’s billionaire Singh family, selected Vishal Bali as the CEO who will guide the company’s endeavor to innovate a pan-Asian healthcare firm.

Ratan Tata files appeal in SC on Nira Radia tapes

Ratan Tata, the Tata Group of companies Chairman, files his appeal in the Supreme Court (SC) on the Nira Radia tapes having captures of his trade with her since they infringed his confidentiality.

Money Matters alleviates financier apprehensions as they told business as usual

Money Matters Financial Services, which is at the middle of the inducement issue, has calmed down its financiers’ apprehension regarding the firm’s prospect. The fiscal house has inquired financiers not to be anxious about the destiny of the firm as it would keep on its operation and business as usual.

Rectification in infra a vigorous progress according to IDFC

IDFC is having a two-day assembly with significant presenters that comprise personality such as Nandan Nilekani, chairman of UIAD, Deepal Parekh of HDFC and outstanding government official Salman Kurshid and P Chidambaram.

MOIL IPO gets absolute investment

The initial public offering (IPO) of MOIL (previously Manganese Ore India) gets an absolute investment on second day. The subject has obtained proposals for 3.7 lakh ownership interest shares versus the amount of 336 lakh investment, as per account existing on NSE at 12 pm.

No investigation on inducement rip-off made, Religare proclaims

Religare Enterprises told on Friday that it is impossible to get linked with an accusation of inducement rip-off and hasn’t at all come into any arrangements with Money Matters. There is no inquiry made in opposition to us relating to the whole subject, Regilare told in an account.

Administration looks ahead to an approval for further expend next week

The administration looks forward to seize legislators’ approval next week for further administrative expenditure, according to Parliamentary Affairs Minister Pawan on Friday, although the parliament is still silent for the 11th consecutive day.

No finances sold from Money Matters, GMR Infra says

According to the latest statement released by A Subba Rao, Group Chief Financial Officer of GMR Infrastructure, he told that his company has not collected any finances from private monetary firm Money Matters.

Archies bad purchase costs 4 million euro

Archies Limited has notified BSE that the Company has accepted a purchase of 4 million Euro from Russian Company and the purchase has to be provided in the following 2 - 3 years in tranches. The Greeting Cards will be provided from its latest amenities at Manesar, Haryana which has been outfitted from April 2010.

Glodyne Technoserve stock rip from Rs 10 to Rs 6 apiece

Glodyne Technoserve Limited has notified the Exchange that the Board of Directors of the Company at a conference happening on November 25, 2010 have commended Subdivision of shares of face value of Rs. 10 a piece into share of face value of Rs. 6 apiece, awaiting the stockholders authorization.

LIC, LIC Housing Fin disclosure to spoiled realty firms at Rs 388 crore

In relation to the housing mortgage rip-off coaxed by LIC Housing Finance, the administration has told that entire realty project mortgage disclosure of both LIC Housing Fin is Rs 1600 crore, accounts cited from Finance Ministry.

Vaishnavi Gold BOD conference on December 04, 2010

Vaishnavi Gold Ltf has notified BSE that a conference of the Board of Directors of the Company will happen on December 04, 2010, among other things, to regard as and enlist documentation of the Audited monetary outcomes and to deem the approval of dividend for the fiscal year ended March 31, 2010.

Power Ministry assigns cabinet note on PFC withdrawal of capital

The follow-on public offering (FPO) of Power Finance Corporation (PFC), an economic organization devoted to support sector financing, is going to strike the principal markets by April - May 2011. The Power Ministry assigns a Cabinet note on the withdrawal of capital of PFC.

CRISIL allots 2/5 rate to Shirdi Industries IPO

CRISIL has allotted a rate of 2/5 to the suggested IPO of Shirdi Industries, which points to the essentials of the IPO are less than the standard comparative to the other listed equity securities in India, accounts dated November 26 shows.

Claris Lifesciences amends IPO price band to Rs 228-235 a share

In the latest development, meager retort because of scrawny trade situation has compeled Claris Lifesciences, a pharmaceutical industry that focuses on hygienic vaccines, to amend its price band to Rs 228-235 a share.

Shipping Corp puts FPO price band at Rs 135-140 per share

Shipping Corporation of India (SCI), one of India’s biggest shipping industries when it comes to Indian cargo shipment carriage, has put a price band at Rs 135-140 each share for its follow-on public offer (FPO) of 8,46,90,730 interest shares, which will offer for investment on Tuesday, November 30, 2010.

MOIL IPO invested 0.76 times

The initial public offering (IPO) of MOIL (once Manganese Ore India) has been getting excellent retorts on the first day regardless of a fragile trade situation; it has been invested 0.76 times, as per figures existing on National Stock Exchange.

BSE Sensex slumps 0.94% as every sector crumples

The BSE 30-share Sensex was down 181.55 points or 0.94% to 19,136.61, its lowest closing since 9 September 2010. The Sensex rose 99.45 points at the day's high of 19,417.61 in early trade. The index lost 363.34 points at the day's low of 18,954.82 in morning trade.

The S&P CNX Nifty was down 47.80 points or 0.82% at 5,751.95, its lowest closing since 9 September 2010. The Nifty hit a low of 5,690.35 in morning trade.

The BSE Small-Cap index lost 3.06% and the BSE Small-Cap index declined 4.49%. Both these indices underperformed the Sensex.

All the 13 sectoral indices on the BSE edged lower. The BSE Realty index (down 4.68%), the

BSE Consumer Durables index (down 3.90%), and the BSE Metal index (down 2.54%), underperformed the Sensex.

The BSE IT index (down 0.02%), Bankex (down 0.03%), and the BSE Healthcare index (down 0.39%), outperformed the Sensex.

Market Breadth:

Positive 499 Negative 2552 Unchanged 57
From the 30 share Sensex pack, 24 fell and rest rose.

BSE Sensex plunges 0.73% as nearly all sectors collapse

The BSE 30-share Sensex was down 141.69 points or 0.73% to 19,318.16, its lowest closing level since 13 September 2010. The index lost 202.48 points at the day's low of 19,257.37 in late trade. The Sensex rose 168.42 points at the day's high of 19,628.27 in morning trade.

The S&P CNX Nifty was down 66 points or 1.13% at 5,799.75, its lowest closing level since 14 September 2010. The Nifty hit a low of 5,780.35 in late trade.

The BSE Mid-Cap index fell 1.89% and the BSE Small-Cap index fell 1.87%. Both these indices underperformed the Sensex.

Most of the sectoral indices on BSE fell. BSE Realty index (down 5.4%), Capital Goods index (down 2.88%), PSU index (down 2.65%), Metal index (down 2.43%), Power index (down 1.87%), Oil & Gas index (down 1.57%), BSE Bankex (down 1.42%), FMCG index (down 1.24%), Healthcare index (down 1.11%), Consumer Durables index (down 1.02%), underperformed the Sensex.

The BSE IT index (up 1.23%) and Auto index (down 0.6%) outperformed the Sensex.

The total turnover on BSE amounted to Rs 5599 crore, higher than Wednesday's turnover of Rs 4426 crore.

Market Breadth:

Positive 736 Negative 2245 Unchanged 78
From the 30 share Sensex pack, 23 fell and rest rose.

Tata Steel to purchase further possessions to meet demands

Tata Steel, the globe’s 7th largest steel producer, is searching for an additional possession as it increases competence to reach the thriving order locally and internationally, according to a senior representative on Thursday.

Amtek India announces earnings at Re 0.40 per share

Amtek India Ltd has notified BSE that the Borad of Directors of the Company at its caucus which happened on 24 November 2010, among other things, have proposed earnings of Rs. 0.40 per ownership interest share of Rs. 2/ - apiece for the fiscal year ending June 30, 2010 issued for endorsement of investors of the company in the consequent of a general conference every year.

Technofab Engineering gets request purchase costing Rs 30 crore

Technofab engineering Ltd has notified BSE that the Company has accepted new requests costing Rs. 30 crores for a piping task indenture for impending 5x270 MegaWatts Thermal Power Projects at Amravati and Nashik.

Escorts BOD conference on 29 November 2010

Escorts Ltd has notified BSE that a conference of the Board of Directors of the Industry will happen on 29 November 2010, among other things to regard as; favoring the Annual Accounts for the fiscal year finished September 30, 2010 of the Industry.

An issue of personal misbehavior, no system breakdown LIC says

Life Insurance Corporation and LIC Housing Finance have been concentrated as the reports of huge amount multi-crore rip-off were exposed. In a proposal to protect Life Insurance Corporation’s reputation from the gloomy agreements, Chairman TS Vijayan consigned the issue to personal misbehavior and refuted having any form of system breakdown.

Reliance Broadcast to discuss the Radio City purchasing

In a statement released by Reliance Broadcaster Network Ltd, the main media service provider of the Anil Dhirubhau Group, is in caucus to purchase Radio City from private equity finance India Value Fund Advisors Pvt Ltd.

Food price increases at 10.15 percent YoY on November 13, Administration announces

India’s food cost index increased 10.15 percent, as the fuel cost index mounted 10.57 percent during the year up to November 13, as explained by an account release by the administration on Thursday.

Inducement Issues will not affect realty loans according to SBI

State Bank of India, the nation’s largest bank that gives loans, perceives no effect of a fiscal inducement matters on authorizing of mortgages to the real estate zone, according to its chairman on Thursday.

D S Bains leader to guide Punjab and Sind Bank

Punjab cadre IAS officer D.S. Bains is assumed to be a leader for the position of Chairman and Managing Director of Punjab and Sind Bank (PSB). His name has been given for endorsement of the Appointments Committee of the Cabinet (ACC).

Administration declines to seek stable financiers for MOIL

In the latest development, the administration is determined not to look for stable financiers for the MOILS’s (previously Manganese Ore India) initial public offering (IPO) that is lined up to strike the market this coming Friday.

Power Grid to put in 40000 megawatts during the next 2 years

Ensuing public offering assets of the nation’s biggest electricity transmission service Power Grid Corporation of India registered on the barters on Thursday. The industry arranges to put in 40,000 megawatts during the next two years, according to its chairman and managing director SK Chaturvedi.

KRChoskey urges to Invest at Claris Lifesciences IPO

Clarence Lifesciences, a pharmaceutical industry that focuses on hygienic vaccines, has released its Rs 300 crore initial public offer (IPO) for investment. KRChoskey urges investing the returns on the financial support of CLL’s small price viable gain, having existence in a specific market (hygienic vaccines), and strong development outlook, according to its investigation account.

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BSE Sensex slumps 1.18% on another downbeat trading day

The BSE 30-share Sensex was down 231.99 points or 1.18% at 19,459.85, its lowest closing level since 16 September 2010. The Sensex fell 315.92 points at the day's low of 19,375.92 in late trade. The Sensex jumped 143.73 points at the day's high of 19,835.57 in mid-morning trade.

The S&P CNX Nifty was down 69 points or 1.16% at 5,865.75, its lowest closing since 16 September 2010.

The BSE Mid-Cap index fell 1.11% and the BSE Small-Cap index fell 0.56%. Both these indices outperformed the Sensex.

Most of the sectoral indices on BSE fell. The BSE FMCG index (up 0.24%), Auto index (up 0.05%), Consumer Durables index (down 0.24%), Healthcare index (down 0.27%), Oil & Gas index (down 0.57%), Power index (down 0.86%), Metal index (down 0.95%) and IT index (down 1.06%) outperformed the Sensex.

The BSE Bankex (down 2.94%), Realty index (down 2.88%), PSU index (down 1.84%) and Capital Goods index (down 1.21%) underperformed the Sensex.

BSE clocked a turnover of Rs 4,389 crore, lower than Rs 4,775.57 crore on Tuesday, 23 November 2010.

Market Breadth:

Positive 1288 Negative 1696 Unchanged 101
From the 30 share Sensex pack, 25 fell and rest rose.

Worldwide chattels assets to go up 25-35 percent in 2011

Jones Lang LaSalle affirms Worldwide major commercial property venture quantity will go up by 25 - 30 percent to more than USD 350 billion in 2011, the uppermost since 2008, with the US redistribution of 40 percent escalation, according to Jones Lang LaSalle, a property contractor.

Authorities to decode fine print

Major commerce watchdog SEBI may recommend comprehensive modifications in the manner stock exchanges are gained and make cash out of it. The Bimal Jalan committee created by SEBI proposed firm supervision of incomes and an expanded mutual stockholder for the bourses.

Coal India announces no interest in Massey

Government-owned Coal India is working on unpaid assiduousness for a venture in a mine which is owned by US-based Massey Energy, although it has no interest to get hold of the corporation itself, the Indian business organization’s chairman told on Wednesday.

Kingfisher to collect $250-$300 million

Kingfisher Airlines will collect $250 - $300 million by January in the following year, the Times of India told on Wednesday, in an account citing Chairman Vijay Mallya. Chairamn Vijay Mallya told that they are in the offing for the liability reforming procedures to be finished.

Gujarat NRE Australia unit rolls to six-month returns

Gujarat NRE Coking Coal Ltd told that on Wednesday its Australian unit accounted earnings for the six-month finished September weigh against its decline last year, supported by elevated coking coal productions and vigorous values.

Bhushan Steel eyes Financial Year 2010-2011 25 percent revenue increase

Bhushan Steel looks forward to its revenue to mount by 25 percent in 2010-11 over a huge stipulation and perked up gross profit caused by an increasing level of self supply, as explained by its chief fiscal representative on Wednesday.

HT Media and BCCL purchased venture in EdServ.

Dainik Jagran is the newest media firm to purchase venture in EdServ. Softsystems, an education and placement company located in Chennai. HT Media and BCCL, each purchased interest of around Rs 10 crore and Rs 15 crore respectively, explained by EdServ. chief executive and chairman S Giridharan.

Kiri Dyes accomplished the acquisition of Dystar in Germany

During the previous year, Kiri Dyes concluded the acquisition of Dystar in Germany and the entire international auxiliary excluding US. The most recent is that they are done with the purchase including the US businesses.

Central Bank of India rebuffs CBI allegations

The Central Bureau of Investigation or CBI has uncovered a phony housing scandal. CBI publicized in a press conference that it has taken into custody the Director and Chartered Accountant of the Central Bank of India and some other representatives from different public sector bank.

One97 Communications IPO to be released in December 1

One97, a telecommunications non-core service contractor, is preparing to go into principal markets with an initial public offering of Rs 120 crore on December 01, 2010. The company is a primary telecommunications non-core service contractor to telecom entities, customers and endeavors in India.

MOIL IPO to be launched this November 26

The initial public offering (IPO) of MOIL (once Manganese Ore India) will be made clear for investment on November 26. Emkay Global Financial Services has suggested financing the affair, according to its inquiries on November 24, 2010.

Experts and brokerages’ comment on Claris Life IPO

The initial public offering of a pharmaceutical industry Claris Lifesciences which focuses on hygienic vaccines has attained clearance to be subscribed. Claris Lifesciences’ goal is to make Rs 300 crore with the use of this IPO, except it has previously accepted pledge for Rs 54 crore from 4 stable financiers.

Vodafone tax hearing deferred to February-8, 2011 by Bombay High court

Bombay High Court has deferred its hearing to February-8, 2011 for Vodafone Plc's petition against a move by Indian tax office to make it as agent of seller during Hutchison Whampoa's mobile business acquisition. The company filed a writ saying Indian tax office's move was "unusual move".

Making serious efforts to moderate inflation says PM

Manmohan Singh, Prime Minister of India says government is making serious efforts to moderate inflation. The countries annual headline inflation eased slightly in October which is 10 month low but at 8.58% it was still above the Reserve Bank of India's comfort zone.

Bharati Shipyard plans to obtain a majority stake in Tebma

Bharati Shipyard expects to obtain a majority stake in Tebma Shipyards for Rs 75.75 crore. The company is infusing fresh equity capital into Tebma Shipyards at Rs 19.20 per share and may expand post-issue equity capital base of Tebma to Rs 77.36 crore. Tebma Shipyards current equity capital is at Rs 7.78 crore.

Coal India expects to buy stake in Peabody's asset in Australia

Coal India is planning to purchase a stake in Peabody's asset in Australia for around $200 million. The company’s chairman Partha Bhattacharyya said the deal will include buying stake at a particular mine of Peabody in Australia and a long-term offtake agreement.

Dividend announced at Re 1 per share says Kesar Enterprises

Kesar Enterprises Ltd has recommended payment of Dividend at 1% on 20,00,000 Cumulative Redeemable Preference Shares of Rs 10 each for 2009-10 and recommended a Dividend of Rs 1.00 per Equity Share of Rs 10 each on 67,90,162 Equity Shares of Company for 2009-10. The company has informed to BSE about this.

Dividend at Rs 1 per equity share says Walchandnagar Industries

Dividend of Walchandnagar Industries Limited has been announced at Rs 1 per equity share which is 50% subject to the approval of the shareholders. The company has informed to the Exchange about this after its BOD meeting conducted on November 22, 2010.

BSE Sensex drops 1.33% as every sector in lackluster performance

The BSE 30-share Sensex fell 265.75 points or 1.33% at 19,691.84. The Sensex lost 614.90 points at the day's low of 19,342.69 in afternoon trade, its lowest level since 15 September 2010. The index fell 116.17 points at the day's high of 19,841.42 in early trade.

The S&P Nifty fell 75.25 points or 1.25% to 5,934.75. The Nifty hit a low of 5824.95 in afternoon trade, its lowest level since 16 September 2010.

The BSE Mid-cap index was down 1.05%. It outperformed the Sensex. The BSE Small-cap index was down 1.70%, underperforming the Sensex.

The BSE clocked a turnover of Rs 4741 crore, higher than Rs 3,843.51 crore on Monday, 22 November 2010.

All the sectoral indices on BSE were in negative zone. Auto index (down 0.06%), Healthcare index (down 0.28%), Capital Goods index (down 0.30%), IT index (down 0.59%), FMCG index (down 1.24%), Power index (down 1.25%), the banking sector index Bankex (down 1.28%), Consumer Durables index (down 1.31%), outperformed the Sensex.

Oil & Gas index (down 1.69%), Metal index (down 1.79%), PSU index (down 1.85%), Realty index (down 3.26%), underperformed the Sensex.

Market Breadth:

Positive 801 Negative 2151 Unchanged 118
From the 30 share Sensex pack, 28 fell and rest rose.

BOD meeting on November 27, 2010 says Kitex Garments

Kitex Garments Ltd announced that its BOD meeting will be conducted on November-27, 2010 to take on record the audited financial results of the company for year ended March-31, 2010 and to consider a proposal for recommending dividend for FY 2009-10. The company has informed to BSE about this.

BOD meeting on December 02, 2010 says Fedders Lloyd Corporation

Fedders Lloyd Corporation Ltd announced that its BOD meeting will be conducted on December-02 2010 to take on record the Audited Annual Accounts of company for year ended June-30, 2010, recommend dividend for year ended June-30, 2010 and fix date, time and venue for 54th Annual General Meeting.

Two new Functional Heads selected by Taurus Mutual Fund

Taurus Mutual Fund has selected Jude Abraham and Deepali Dholepatil as National Head of Institutional Sales and Head of HR & Admin. Jude has around 10-yrs experience in Mutual Fund industry and joins from L&T Investment Management India Ltd, handling Institutional business for west & south region for 2-yrs.

IPO subscribed 2.97 times says RPP Infra Projects

RPP Infra Projects IPO was subscribed 2.97 times and bids received were 1.93 crore equity shares versus issue size of 65 lakh shares with price tag at Rs 68-75/share. The non-institutional and retail investors reserved portion subscribed 7.27 times and 5.6 times, qualified institutional investors part subscribed 0.16 times.

Punjab & Sind Bank plans to file DRHP for IPO

Punjab & Sind Bank(PSB) plans to file revised draft red herring prospectus (DRHP) for its IPO which is expected to enter the market in first fortnight of December. PSB plans for fresh issue of 4 crore shares and IPO will be via book-building route bringing down Government holding to 82%.

Reid & Taylor IPO in Jan-Feb says S Kumars

S Kumars increased $50 million through qualified institutional placement (QIP) at Rs 80 per share and they further plan to make additional funds by January-February via IPO of Reid & Taylor. chairman Nitin Kasliwal expects IPO at $200-250 million, they will use $100 million from IPO to repay SKNL debt.

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BSE Sensex soars 0.33% as metal, auto lead rise

The BSE 30-share Sensex was up 65.50 points or 0.33% to 19,930.64. The Sensex jumped 191.30 points at the day's high of 20,056.44 in early trade. The Sensex fell 249.63 points at the day's low of 19,615.51 in mid-morning trade.

The S&P CNX Nifty was up 10.10 points or 0.17% to 5,998.80. The Nifty hit a high of 6,076.20 and a low of 5,906.75

The BSE Mid-Cap index fell 0.3%. The BSE Small-Cap index fell 1.06%. Both these indices underperformed the Sensex.

Sectoral indices on BSE were mixed. The BSE Metal index (up 1.89%), Auto index (up 1.4%), Healthcare index (up 0.97%), Capital Goods index (up 0.89%), and FMCG index (up 0.53%), outperformed the Sensex. The BSE IT index (up 0.29%), Power index (down 0.07%), Oil & Gas index (down 0.11%), PSU index (up 0.37%), Realty index (down 0.77%), Consumer Durables index (down 1.42%), and banking sector index Bankex (down 1.6%), underperformed the Sensex.

BSE clocked turnover of Rs 5278 crore almost same as that of Rs 5276.14 crore on Tuesday, 16 November 2010.

Market Breadth:

Positive 1051 Negative 1943 Unchanged 91
From the 30 share Sensex pack, 19 rose and rest fell.

SKS Microfinance collections below normal

SKS Microfinance management said company’s collections have come in lower than normal after AP government ordinance which can have material impact on company’s income. sales, PAT and asset quality of AP portfolio could also be deeply impacted. SKS Microfinance shares touched low of Rs 639.45 and were trading at Rs 642.65.

JSW Steel and Severfield launch a new plant

JSW Steel and Severfield have introduced a new plant which will have investments of Rs 1000 crore in two years after looking potential in the infrastructure growth in India. A report said JSSL, which is 50-50 JV of JSW Steel and Severfield has launched and inaugurated a new steel plant.

JBF Industries plans to buy 11% stake

JBF Industries plans to purchase balance 11% stake which Citigroup Venture Capital holds in JBF Global. Citi had obtained 33% stake in their Singapore arm by investing $70 million. MD Rakesh Gothi said they bought back 22% of their stake of around $50 million worth for $62 million.

Basix says industry’s exposure in AP was Rs 9000 crore

The MFI sector situation was very hard and industry’s total outstanding exposure in Andhra Pradesh was Rs 9000 crore as on September 30, out of this Rs 9000 crore, around Rs 7,000 crore was borrowed from banks said Vijay Mahajan, Founder and Chairman of Basix.

Sterlite Tech merged with China's Jiangsu Tongguang Communication

Sterlite Technologies has entered in a joint venture with China's Jiangsu Tongguang Communication to generate optical fibers. The merging company has been named as Jiangsu Sterlite & Tongguang Optical Fibers Co Ltd which will be located in Haimen, Jiangsu province of China.

Deal between Enam Securities and Axis Bank

Enam Securities will merge with Axis Bank subsidiary in all-share transaction valued Rs.2064 crore providing 5.7 shares of Axis Bank for every one share of Enam Securities. Enam's shareholders will get 3.3% stake in Axis. Vallabh Bhanshali will get Axis board seat and Manish Chokhani will become MD, CEO.

IBREL is under RBI scanner for Bharat-Poddar Mill auctions

Bharat and Poddar Mill auctions won by Indiabulls Real Estate(IBREL) with total consideration Rs.1900 crore is under RBI scanner. IBREL made a deal with ICICI Bank where bank would issue financial guarantee to NTC behalf of IBREL for transactions. Total transaction with stamp duty, other charges was Rs 2100 crore.

Food price index increased 10.30% in India

Food price index in India increased 10.30% and fuel price index climbed 10.57% in the year to Nov-6. In the previous week annual food and fuel inflation was at 12.30% and 10.67%. The primary articles price index was up 13.30% during latest week versus annual rise 14.87% latest week.

Real Estate India Fund to invest in Prozone says Provogue India

Triangle Real Estate India Fund is funding Rs 306 crore for a 35% stake in three special purpose vehicles (SPV) formed by unit Prozone Enterprises said Provogue India Ltd. Provogue owns a majority stake in Prozone Enterprises with interests in malls, hospitality, residential and commercial projects.

Cement industry expects good recovery says HM.Bangur

Shree Cements MD, HM.Bangur said cement industry is still expecting a good recovery and from December market is expected to grow better. With Indian economy ready to grow at 8-9%, cement industry may grow at same rate. Shree Cement’s volumes increasing by 2-3% because of competition in cement space.

RPP Infra Projects open its IPO for subscription

RPP Infra Projects opened its 65 lakh shares IPO for subscription today with a price tag at Rs 68-75 per share. The construction company usually involved in business of infrastructure development like highways, roads and bridges diversified civil works expertise into SEZ development, water management projects, irrigation and power projects.

FMCGs new sustainability plan for 2012-2020

FMCG is taking its role very seriously and plans to ensure sustainable business practices by its new sustainability plan for 2012-2020. The company is enthusiastic on growth of Indian market in long-term. HUL, non-executive Chairman said his view on recent pause in market growth and company’s new sustainability plan.

Plan to double truck production in 3 years says Eicher

Eicher MD Siddhartha Lal said as the production is currently short of peak capacity of 4000 unit per month will be made in 2011. The company going to double production in a 3-year time horizona and also Royal Enfield’s monthly production fell below 5000 last quarter as supply limited.

EU-India trade agreement will continue into 2011

EU spirits producers said European Union demands India to open its doors to European whisky and vodka are among factors holding up a free-trade agreement between two powerhouses. A wide-ranging EU-India trade agreement expected to be completed by year-end but negotiations will continue into 2011, EU officials said.

Indian, Russian companies expected to follow China

Indian, Russian companies may follow China's lead in doing overseas deals to support grow their automotive industries. China's car industry completed decade augmenting its technology, brands and distribution capabilities by alliances, consulting tie-ups, overseas takeovers, ending in Geely's $1.5 billion purchase of Volvo from Ford.

Expect to increase $4 billion says Novelis Inc

Novelis Inc expects to increase $4 billion to refinance loans borrowed by Hindalco in 2007 for its acquisition of Novelis. About 3.5 billion will be refinanced by a mix of bonds and long term loans, a $500 million would be increased as revolving loan for Novelis working capital requirements.

ICICI Bank plans to increase $50 million by 10-year bond

ICICI Bank plans to increase $50 million by a 10-year lower tier two-bond issue. Barclays Capital, Deutsche Bank and HSBC are lead managers on the issue which expected to be priced later on Tuesday and adding initial guidance for coupon rate was in 'low 7%' range.

Increased Rs 1,000 crore through QIP says Manappuram General Finance

Manappuram General Finance & Leasing Ltd said its board has approved issuance of 59.52 million shares by share sale to institutions, worth Rs 1,000 crore. The shares were issued at Rs 168/share and company which provides loans on gold collateral said to have increased Rs 1,000 crore by share sale to institutions.

Adani Enterprises expects coal imports to increase by 40%

Adani Enterprises sees its coal imports to increase around 40% this year saving its dominance of coal trade in Asia's third-largest economy. Vinay Prakash said energy-to-real-estate group is expected to import 32-35 million tonne of coal in 2010/11 year ending in March, up from 25 million previous year.

Coal producers and traders expect to make big sales into India

Overseas coal producers and traders who expect to do big sales into India's growing market must rely on local intermediaries for at least next 10 years. Many suppliers are focusing on India, where thermal coal imports increased from almost nothing in 2004 to 84 million tonne this FY.

Axis Bank-Enam JV valued at around Rs 2,100 crore

Axis Bank expects to pick up 49% stake in Enam Institutional Broking. Axis Bank-Enam JV ratio is 5:7:1 and deal is expected to be valued at around Rs 2,100 crore. The JV will see latter becoming 100% subsidiary of former with Manish Chokhani advertised to be CEO of new arm.

SCI files RHP with SEBI for FPO

Shipping Corporation of India(SCI) has filed red herring prospectus(RHP) with SEBI on November-15 for FPO comprising issue of 42,345,365 shares by public sector company and another by Government of India by divestment. The stock ended at Rs 165.10, down by 3.68% and intraday was high of Rs 172, low of Rs 164.40.

Gravita share closed at Rs 208 on NSE

Gravita India had a good session on exchanges on day one. The share closed at Rs 208 on NSE with a premium of 66.40% versus issue price of Rs 125 per share after reaching high of Rs 253.20 and low of Rs 201.10 with 194 bulk deals in total on exchanges.

BSE Sensex slips 2.19% as market in deep downturn

The BSE 30-share Sensex fell 444.55 points or 2.19% to 19,865.14. The Sensex slumped 477.47 points at the day's low of 19,832.22 in mid-afternoon trade. The Sensex rose 70.41 points at the day's high of 20,380.10 in early trade.

The S&P CNX Nifty fell 132.90 points or 2.17% to 5,988.70. The Nifty hit a low of 5,970.60.

The BSE Mid-Cap index outperformed the Sensex, falling 2.15%. The BSE Small-Cap index fell 2.92% and underperformed the Sensex.

BSE clocked turnover of Rs 4656 crore, higher than Rs 4635.05 crore on Monday, 15 November 2010.

The BSE PSU index (down 2.19%), Auto index (down 2.22%), Consumer Durables index (down 2.58%), Capital Goods index (down 2.78%), Metal index (down 3.11%), Realty index (down 3.55%), underperformed the Sensex. The BSE Healthcare index (down 0.66%), IT index (down 1.78%), Oil & Gas index (down 1.93%), the BSE banking sector index Bankex (down 2%), FMCG index (down 2.06%), Power index (down 2.10%), outperformed the Sensex.

Market Breadth:

Positive 598 Negative 2433 Unchanged 93
From the 30 share Sensex pack, 29 fell and rest rose.

Oil India plans to complete overseas asset purchase

Oil India is expecting to complete a deal to purchase stake in oil and gas producing asset overseas. The company plans for producing assets in Australia, South America and parts of Africa. It should be below $1 billion, they are not going for multi-billion dollar deal, said TK.Anantha Kumar.

NTPC plans to set up cement plant merging with NALCO

Arup Roy Choudhury, Chairman of NTPC said on Tuesday that the company expects to set up a cement plant merging with the National Aluminium Co. In a month to a month-and-a-half, we will set up the plan said India's state-run power utility company.

Govt to compensate oil marketing companies for selling below cost

Ashok Chawla said India plans to compensate oil marketing companies for selling petroleum products below cost as mandated by government with cash in budget session of parliament in February. Additional spending plan tabled by government in parliament didn’t provide for compensation to oil marketing companies for selling below cost.

Prakash Steelage expects topline growth at around 25% CAGR

Ashok Seth, ED of Prakash Steelage Ltd said company was expecting a topline growth at around 25% CAGR in organic growth and are also looking for inorganic growth. The company signed MoU Towanda Metadyne Inc for a forging unit including a plan for more acquisitions, both domestic and international.

India's imports growth in October went to single digit

Imports growth in India during October went to single digits which are lowest level in 7 years, triggering fears that industrial activity has started moderating in Asia's third-largest economy. Industrial output growth suddenly slowed to 4.4% in September from a year ago after decline in capital goods production.

Merger process with Tech Mahindra will take a yr says Mahindra Satyam

Chairman Vineet Nayyar said Mahindra Satyam starts its consultation process for merging with parent Tech Mahindra which is expected to take a year. Tech Mahindra bought Satyam in April-2009 and is operating it as independent company and process of merging Satyam into parent will start after announcing quarterly results.

Expect revenue growth by 20-25% next year says HCC

Ajit Gulabchand, Hindustan Construction Co(HCC) chairman said company expects to grow revenue by 20-25% next year after taking advantage of huge infrastructure growth in India. HCC expects to increase money for its infrastructure business as it plans to expand portfolio to $6 billion in 5-yrs versus current $1.2 billion.

Expect to issue airport bonds says GMR Infrastructure

GMR Infrastructure expects to refinance debt in its profitable airport business by using domestic and international bond investors. The company may refinance few long-term airport loan debts running to fourteen years, by issuing project specific bonds with more favorable financing terms said, Sidharth Kapur, Airports Chief Financial Officer.

Junior FM says price stability high on government's plan

Namo Narain Meena, Junior Finance Minister said price stability stayed at high on government's plan and RBI monetary policy measures have helped moderate inflation. India's annual headline inflation reduced slightly during October to 8.58%, which is lowest in 10 months versus 8.62% in September.

LIC's Rs 14,000 crore loss only notional

The life insurance corporation posted Rs 14,000 crore loss was only notional, only 1% of LIC’s total asset base, including government’s examination of LIC was not due to notional loss. The valuation of schemes must be considered as whole, not individually. There must be few schemes in surplus and deficit.

Gravita India listed at Rs 201.10

Gravita India's shares were listed today at Rs 201.10, a premium of 60.88% for a issue price of Rs 125 a share on National Stock Exchange. The stock reached a high of Rs 247.70 in early trade and it was trading at Rs 233.70, up 89.96%, with volume of 52,65,423 equity shares.

IPO on November 26 says MOIL

IPO of Manganese Ore India's (MOIL) is expected to open on November 26, 2010. The size of the issue is expected to be around Rs 1,500 crore and the company is planning to reduce around 20% equity.

BSE Sensex soars 0.76% as banking, healthcare lead upsurge

The BSE 30-share Sensex rose 152.80 points or 0.76%, to 20,309.69. The Sensex rose 178.62 points at the day's high of 20,335.51 in late trade. The Sensex lost 110.29 points at the day's low of 20,046.60 in morning trade.

The S&P CNX Nifty jumped 49.95 points or 0.82% to 6,121.60.

The BSE Mid-Cap index rose 0.19%. The BSE Small-Cap index declined 0.30%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 4605 crore, lower than Rs 5304.61 crore on Friday, 12 November 2010.

The BSE banking sector index Bankex (up 2.43%), Healthcare index (up 1.07%), IT index (up 0.86%) and Auto index (up 0.83%), outperformed the Sensex.

PSU index (up 0.62%), FMCG index (up 0.56%), Metal index (up 0.56%), Capital Goods index (up 0.01%), Oil & Gas index (down 0.15%), Power index (down 0.20%), Consumer Durables index (down 1.13%) and Realty index (down 1.43%), underperformed the Sensex.

Market Breadth:

Positive 1685 Negative 1276 Unchanged 144
From the 30 share Sensex pack, 20 rose and rest fell.

Inflation easing at 8.44% during October

The wholesale price index in India during October almost certainly increased to 8.44% compared to a year earlier which is a little slower than 8.62% increase in September. The twenty six economists had estimated its range to be from 8.00% to 8.74%.

Wholesale price index eased to 8.58% as against 8.62% last month

The wholesale price index in India during October eased to 8.58% versus 8.62% last month. The Food inflation was at 14.13% in October as against 15.71% per month earlier as supplies eased after monsoon rains, supporting to bring down overall inflation.

Government expects Oil underrecoveries at Rs 59,000 crore in FY11

The government expects total underrecoveries of 590 billion rupees ($13.1 billion) on essential petroleum products for 2010-11. A 180 billion rupees expected in liquefied petroleum gas(LPG). Supply of petroleum products will increase with commissioning 3-refineries at Bina, Bhathinda, Paradip in next 2-years, increasing refining to 240 million tonnes by 2012.

Govt expects additional Rs 19,812 crore net spend FY 2011

The government expects parliamentary approval to spend a net additional Rs 19,812 crore in financial year 2011. Pranab Mukherjee, the finance minister said gross additional spending nod sought was for Rs 44946 crore and government has a budget of spending Rs 11.09 trillion in current fiscal year.

Oricon Enterprises decides a stock split from Rs 10-2

Oricon Enterprises Ltd has decided, subject to requisite approvals as may be necessary, to sub-divide existing equity shares of Rs 10 per fully paid up into Rs 2 a equity share fully paid up. The company informed to BSE about this after its BOD meeting conducted on November 13, 2010.

Reliance Capital will not list life insurance arm for next few quarters

CEO of Reliance Capital, Sam Ghosh said company’s life insurance arm listing may not happen for next few quarters because of new regulatory environment and finance ministry must approve listing of life insurance business before completing 10-years. Presently, company's product mix ratio of ULIP and non-ULIP portfolio is 50:50.

Vodafone must pay deposit for tax dispute said Supreme Court

Supreme Court has informed Vodafone to deposit Rs 2500 crore ($550 million) within three weeks due to the $2.5 billion tax dispute. The company has also been informed to make a bank guarantee worth Rs 8500 crore ($1.9 billion) within eight weeks.

Spice Mobility announced its quarter ended September 30, 210

Spice Mobility announced its net profit at Rs 54 crore for quarter ended September 30, 210. The company’s net profit was Rs 16 crore in July-September quarter in 2009 and Net sales was Rs 479 crore in quarter under review versus net sales of Rs 219.7 crore in the same time last FY.

Dividend declared at 30% says Franklin Templeton Investments

Dividend of Franklin Templeton Investments (India) declared at 30% which is Rs 3 per unit on face value of Rs 10 in its open end fund of funds scheme, FT India Dynamic PE Ratio Fund of Funds (FTDPEF) with record date as November 19. The NAV of the scheme on November-12 was Rs 36.6582.

Maiden dividend at 10% says Sundaram Mutual Fund

Maiden dividend of Sundaram Mutual Fund has been declared at 10% which is Rs 1 per unit on face value of Rs 10 with a record date as November 19, 2010. All investors registered under this scheme will receive dividend. The NAV of the scheme as on November-12 was Rs 14.994.

Lavasa files Rs 2000 crore IPO said HCC

Ajit Gulabchand, the HCC Chairman said Lavasa Corp has filed for a Rs 2000 crore ($445 million) initial public offer. Earlier, the Indian land developer expected to introduce its IPO by December in case it gets fast clearance for its draft prospectus.

FPO on Nov 23 says Power Grid

Power Grid Corporation plans to list its equity shares through FPO on exchanges on November-23. The company will increase 1.7 billion via this issue. The issue price is at Rs 90 a share with higher end price tag at Rs 85-90. Retail investors and employees will get shares at Rs 85.5.

Telenor CEO says Indian telecoms merger will take time

Chief executive of Telenor ASA said the company does not expect merging in the Indian telecoms industry is right around the corner. The Nordic telecom operator's Indian company included 2.5 million subscribers in October taking its total user base to 13.5 million in the country.

Expect 30-40% dollar rev growth says eClerx

PD Mundhra, ED & Promoter of eClerx, said after looking at YoY level, constantly during past 2-3 years, the company has been growing from 30-40% YoY in dollar terms and we hope to maintain our growth as well and do the same in the future as well.

India's wholesale price index at 8.44%

The wholesale price index in India most likely has increased by 8.44% in October from a year earlier which is a little slower than its 8.62% increase in September. The estimation from the 26 economists ranged from 8.00% to 8.74%.

May increase capacity to 4,000 MW by March says Lanco Infratech

ndia's Lanco Infratech expects to increase operating capacity of its power plants to 4,000 megawatt by March. J Suresh Kumar, Chief Financial Officer said they will be building 5,500 megawatt of capacity which will be commissioned in next three to four years.

Fertilisers and Chemicals Travancore announces second quarter results

Fertilisers and Chemicals Travancore (FACT) has declared its second quarter results with a net profit at Rs 12.5 crore againts the loss of Rs 11.4 crore. CMD of the company, Shankar Narayan informed about the quarter results and future plans of the company.

Revenues may touch Rs 400 crore this FY says GEI Industrial Systems

GEI Industrial Systems President, PV.Sundaram said they have been growing YoY and annual growth is around 27-30%. The company has been growing in last 5 yrs and expects double-digit growth momentum in power sector and revenues may touch Rs.400 crore this FY and estimate Rs 550-600 crore in next FY.

BSE Sensex drops 2.1% on third straight day of market collapse

The BSE 30-share Sensex was down 432.20 points or 2.1%, to 20,156.89. At the day's high of 20,593.91 hit in morning trade, index rose 4.82 points. The Sensex lost 480.69 points at the day's low of 20,108.40 in late trade.

The S&P CNX Nifty was down 122.60 points or 1.98% to 6,071.65.

BSE clocked turnover of Rs 5250 crore lower than Rs 6113.90 crore on Thursday, 11 November 2010.

Market Breadth:

Positive 748 Negative 2298 Unchanged 71
From the 30 share Sensex pack, 28 fell and rest rose.

RIL expects 50% of its EBITDA

Mukesh Ambani said Reliance Industries(RIL) is betting big on shale gas in US. RIL expects 50% of its EBITDA in exploration and production space(E&P) in next 5 yrs coming from its shale gas business in North America. RIL already signed three joint ventures with Atlas, Pioneer and Carizzo.

Pramerica Equity Fund & Pramerica Dynamic Fund by Pramerica Mutual Fund

Pramerica Mutual Fund has declared its first equity based product offerings for Indian market namely Pramerica Equity Fund & Pramerica Dynamic Fund managed by Ravi Gopalakrishnan, Executive Director and CIO-Equity and Mahendra Jajoo, Executive Director and CIO-Fixed Income. Both schemes open from November 19 to December 03 for subscription.

Hindustan Copper ready to introduce its FPO

Chairman and managing director of Hindustan Copper Shakeel Ahmed said the company is ready to introduce its FPO but he declined to comment on the timings of the issue as many factors will be reviewed before deciding the price. The company produces 3-3.2 million tonne copper ore annually.

MOIL manganese iron ore reserves was 69 million tonne

JK Singh, CMD of Manganese Ore India Limited (MOIL), said IPO expected in last week of November and price tag not been decided yet. The company's manganese iron ore reserves was at 69 million tonne, Indian prices was $9-9.5 dmtu and global prices for manganese iron ore was $8 dmtu.

IPO expected in Nov end says Manganese Ore India

IPO of Manganese Ore India Ltd(MOIL) is expected to enter capital markets in November end and it is planning to increase Rs 1000 crore through 20% dilution including 10% offer for sale by central government and 5% each by Maharashtra state and other governments.

FPO subscribed 14.5 times says Power Grid Corp

Follow-on public offer (FPO) of Power Grid Corp which closed today has received huge response from investors as it was subscribed 14.47 times and most brokerage houses think that the attractive pricing offered by the government has led to the overwhelming interest.

BSE Sensex plummets 1.37% on second straight day of market fall

The BSE 30-share Sensex was down 286.62 points or 1.37%, to 20,589.09. At the day's high of 20937.38 hit in early trade, index rose 61.67 points. The index fell 331.49 points at the day's low of 20544.22 in late trade.

The S&P CNX Nifty was down 81.45 points or 1.3% to 6,194.25.

The BSE Mid-Cap index fell 1.12%. The BSE Small-Cap index rose 0.47%. Both the indices outperformed the Sensex.

Market Breadth:

Positive 1296 Negative 1719 Unchanged 88
From the 30 share Sensex pack, 25 fell and rest rose.

Nitesh Estates announced its second quarter results

Nitesh Estates announced its second quarter results for FY11 with revenue of Rs 36 crore against Rs 37.39 crore QoQ and net profit was at Rs 2.7 crore against Rs 4.76 crore QoQ. Total income was Rs 40.14 crore versus Rs 40.7 crore. Nitesh Shetty, CMD of company informed about quarter results and future plans.

Korean steel giant expects back out of Indian venture

Korean steel giant expects to back out of its Indian venture due to the roadblocks that POSCO’s facing, though they are not seem to be pulling out of India. But India and Korea want POSCO project to go through and Korean companies eager to bid for Indian nuclear projects.

Hanung Toys & Textiles declares second quarter results

Hanung Toys & Textiles has declared its second quarter results with a net profit at Rs 30.3 crore against Rs 18.7 crore, YoY and net sales were up at Rs 275 crore against Rs 183 crore, YoY. Ashok Kumar Bansal, CMD of the company informed about the quarter results and their future plans.

India manageable with $70 billion cap inflows

India can handle capital inflows till $70 billion and there is no need to enforce limits yet, but it needs to be alerted to latest round of US quantitative easing. Few Asian policymakers concerned about US Federal Reserve's idea to purchase $600 billion in government securities.

Expect Rs 1,200 crore revenue by FY11 says Vijay Arora

Rice supplies began to tighten globally due to heavy floods in countries like Thailand and Philippines. The Prices expected to increase due to tightening of supplies by both these countries. Vijay Arora sees rice demand increasing in domestic and international markets and he expects Rs 1,200 crore revenue in FY11.

India's industrial output increased to 7% in September

Annual industrial output in India increased to 7% in September from previous month. The output growth had dropped suddenly to 5.6% in August from a 15.2% rise in July. The estimation ranged from an increase of 4.5-10%.

Apollo Tyres announces 59% fall in net profit

Apollo Tyres announced a 59% fall in net profit which is record high rubber prices drove inputs costs up significantly. The combined net profit was at Rs 53.2 crore and net sales was Rs 1,948.9 crore. The company expects to increase 15-20% to maintain margins and increase imports at higher costs.

Coromandel International 5 year deal with Potash Corp

Chairman of Coromandel International, A.Vellayan informed about companies recent 5 year deal with Canada’s Potash Corp and deal was connected to supply in terms of volume due to BHP Billiton’s aggressive takeover bid for Canadian fertilizer major. The Chinese have a stake in Potash Corp which expected to affect supply.

IPO of Greatship assigned 4/5 grade by CRISIL

IPO of Greatship (India) has been assigned a grade 4/5 from CRISIL which shows that fundamentals of IPO are above average compared to other listed equity securities in India. The assigned grade shows Greatship’s competitive strength attributable to its young, technologically advanced and diverse fleet, report added.

Spice Mobility may raise Rs 600-700 crore by treasury stake sale

Spice Mobility expects to increase Rs 600-700 crore through treasury stake sale and they also plan to sell 19.8% Stake or 4.7 crore shares held in treasury. Standard Chartered is authorized to sell spice mobility treasury stock and treasury stake sale planned in December said chairman of the company.

FPO was subscribed 9.5 times says Power Grid Corp

The FPO of Power Grid Corp has been subscribed 9.5 times till now which is a overwhelming response from qualified institutional buyers(QIBs) and subscription of a reserved portion of QIBs ended today. The issue received bids for 797.19 crore equity shares versus issue size of 84,17,68,246 shares.

BSE Sensex plunges 0.27% as market on downturn again

The BSE 30-share Sensex was down 56.77 points or 0.27%, to 20,875.71. At the day's high of 20970.91 hit in afternoon trade, index rose 38.43 points. The index fell 82.56 points at the day's low of 20849.92 in late trade.

The S&P CNX Nifty was down 25.85 points or 0.41% to 6,275.70.

The BSE Mid-Cap index rose 0.29%. The BSE Small-Cap index rose 0.86%. Both the indices outperformed the Sensex.

From the 30 share Sensex pack 19 fell and rest rose.

BSE clocked turnover of Rs 5775 crore higher than Rs 5451.12 crore on Tuesday, 9 November 2010.

Market Breadth:

Positive 1816 Negative 1221 Unchanged 77
From the 30 share Sensex pack, 19 fell and rest rose.

Tera Software expects UID project order value at Rs 45 crore

Tera Software has received an order under Unique Identity (UID) Aadhaar project to cover a population of 1.5 crore, including it in first 5 companies to provide services in UID Aadhaar project. T Gopichand, MD of the company said the order value is expected to be around Rs 45 crore.

JHS Svendgaard announced its quarter results

JHS Svendgaard has declared its second quarter results with a net profit at Rs 4.5 crore versus Rs 80 lakh, an increase of 462.5% on YoY basis. Nikhil Nanda Managing Director of the company announced this and future plans of the company.

EdServ Softsystems announced its quarter results

EdServ Softsystems has announced its results for the quarter ended September 2010 with a revenue of Rs 27 crore in the second quarter and they expect to get full-yr revenue guidance of Rs 150 crore. Chairman & CEO of the company announced this and future plans of the company.

Expects Rs 2500 crore in revenues in next 4 years says Himatsingka

Himatsingka said company expects to target Rs 2500 crore in revenues during next four years. In this Financial Year the combined revenues expected to be Rs 1150 crore to Rs 1200 crore and during next four years we are looking to grow our revenue streams to around Rs 2500 crore, he added.

Provogue announced its quarter results

Provogue has declared its results for the quarter ended September 2010. In Q2, net profit was Rs 9.7 crore versus Rs 8.8 crore last year same time. Total income increased 18% to Rs 142.5 crore versus Rs 121.3 crore it announced a year ago. The companies MD Nikhil Chaturvedi announced the quarter results.

Expect production at 24-25 m tonne by Mar 2011 says Sakthi Sugars

Sakthi Sugars had faced a net loss of Rs 40.5 crore in the third quarter of FY10 versus a profit of Rs 43.3 crore and they expect production at 24-25 m tonne by Mar 2011. M Manickam, MD of Sakthi Sugars announced this and future plans of the company.

HDFC Mutual Fund announces its top buys and top sells

HDFC Mutual Fund increased its coverage in information technology, manufacturing and engineering & capital goods sectors and decreased in oil & gas, telecommunication and utilities sectors. Top buys were Time Technoplast, ICICI Bank and Ballarpur Industries and top sells were NTPC, Apollo Tyres and Bharti Airtel.

Dividend announced at 30% says UTI Mutual Fund

Dividend of UTI Mutual Fund announced at 30%(Rs.3/unit on a face value of Rs.10) with record date November-15 under dividend option of UTI Mastershare Unit scheme and it also includes dividend of 27.5% for the year and 2.5% additional dividend in celebration of 'silver jubilee year' of the scheme.

Franklin Templeton announces its top sells and buys

Franklin Templeton Asset Management decreased its coverage in metals & mining, telecommunication, utilities and increased in oil & gas, information technology, pharmaceuticals sector. Top sells were South Indian Bank, Hindalco Industries, Steel Authority of India and top buts were GVK Power & Infrastructure, Consolidated Construction, Ashok Leyland.

IOC planning for FPO in January

Indian Oil Corp (IOC) plans for its FPO in January and FPO is possible without diesel deregulation says SV.Narasimhan, Director of Finance. The company increased petrol retail prices by Rs 0.32/litre because of rising global crude oil prices. At IOC's fuel stations petrol would cost Rs 52.91 in New Delhi from Tuesday.

SEBI approves Punjab & Sind Bank IPO

Punjab & Sind Bank plans to enter capital markets with IPO of 4 crore equity shares which received permission from SEBI. The bank expected to float IPO in December for issue comprising net issue to public of 3.8 crore and reservation of 20 lakh for subscription by eligible employees.

FPO subscribed 1.72 times says Power Grid Corp

The follow-on public offer of Power Grid Corp which was opened for subscription has been subscribed 1.72 times till now. The issue has got bids for 144.63 crore equity shares versus its issue size of 84,17,68,246 shares.

BSE Sensex surges 0.38% as market concludes on a bright note

The BSE 30-share Sensex was up 80.10 points or 0.38%, to 20,932.48. At the day's high of 20984.08 hit in morning trade, index jumped 131.70 points. The index fell 89.57 points at the day's low of 20762.81 in early afternoon trade.

The S&P CNX Nifty was up 28.35 points or 0.45% to 6,301.55.

The BSE Mid-Cap index rose 0.38% and matched with Sensex's gains. The BSE Small-Cap index rose 0.85% and outperformed the Sensex.

The BSE clocked turnover of Rs 5404 crore higher than Rs 5161.15 crore on Monday, 8 November 2010.

Market Breadth:

Positive 1749 Negative 1239 Unchanged 100
From the 30 share Sensex pack, 20 rose and rest fell.

CIL targets Colombian assets of Drummond

Coal India targets Colombian assets of Drummond and bid is expected to be in the range of $4 billion. The coal ministry has restricted CIL acquiring unlisted companies but this bid was cleared on a case-by-case basis. Merrill Lynch is expected to represent Drummond on a Coal India deal.

Will tie-up with US-based co for Revlimid says Natco Pharma

Bhaskar Narayana, Director (Finance) and CFO of Natco Pharma said they plan to tie-up with for Revlimid and he feels happy for this. The interaction of generics always contains litigation and it is profitable when expanded around world market. The company is also trying for tie-ups with another US-based company.

Jindal Saw plans to demerge its investment division

Jindal Saw Ltd announced to demerge its investment division into a new subsidiary listing on country's 2-main stock exchanges. The company also informed 31% drop in net profit for July-Sept and profit for quarter was Rs 1,00 crore versus Rs 1,440 crore last year, sales dropped 42% to Rs 800 crore.

GE CEO thinks Obama visit can be win-win deal for both countries

GE Chairman & CEO, Jeffrey Immelt said US president’s visit to India would see changes in both countries and he thinks it as win-win situation on both sides, if they play it right. GE’s road ahead in India looks very promising and expected to grow at 30% per year.

SBI expects to keep net interest margins above 3.2%

SBI has declared its Q2 results and combined net profit was down 22.51% at Rs 2,364 crore versus Rs 3,051 crore, YoY. The combined net interest income(NII) was up 45.58% at Rs 11,460.3 crore versus Rs 7,871.7 crore, YoY. SBI CFO SS Ranjan expects to keep the bank’s net interest margins above 3.2%.

ABG Shipyard expects 30% revenue growth in next 3-4 years

ABG Shipyard's current order book stood at around Rs 14,400 crore and it is full for next 4 yrs says its CFO D Datar. The company had better execution skills because of its new shipyard at Dahej and revenues expected to increase by 30% in next 3-4 years, he added.

MCA plans to bring back Schedule 6

The Ministry of Corporate Affairs(MCA) said it expects to bring back Schedule 6 (a form of balance sheet) into the Companies Bill, which will now have 2-sets of accounting standards. One part of balance sheet will display notional gains and treatment of these notional gains is still being worked upon.

Boeing India has order backlog worth $15 billion says Dinesh Keskar

The president of Boeing India, Dinesh Keskar said the world's largest aerospace and defence company has an order backlog of 100 aircrafts in India worth $15 billion. The orders are expected to be carried out in four to five years, he added.

GVK Power to sell its 21.1% stake

GVK Power plans to sell 21.1% stake of GVK Energy to 3i Infra to get Rs 1,200 crore. Anil Ahuja said from Rs 1,200 crore, Rs 800 crore would be increased from 3i India Infrastructure Fund and balance from the affiliated limited partners as in the investors invested in our fund.

Liquidity support measures reintroduced by RBI

RBI has reintroduced the recent measures to provide liquidity comfort to banks, surfacing out of frictional liquidity pressure. RBI expects to hold a second liquidity adjustment facility(LAF) auctions from November-9 to December-16 everyday and banks can get funds up to 1% of deposits under LAF during these days.

Infosys expects to expand in South Korea

Infosys Technologies Ltd is looking for opportunity to expand its business in South Korea. The company CEO Gopalakrishnan said during sidelines of the G20 CEO Summit in Seoul they expect to partner Korean companies in IT sector and will meet the corporate executives during his visit.

Power Grid FPO can be subscribed says Motilal Oswal

Motilal Oswal Financial Services has informed the investor to subscribe for the Power Grid Corporation India FPO. The FPO of the company has opened for subscription today and the price tag for 84,17,68,246 equity shares FPO is set at Rs 85-90/share.

BSE Sensex slumps 0.73% on poor trading turnout

The BSE 30-share Sensex was down 152.58 points or 0.73% to 20,852.38. The Sensex rose 70.75 points at the day's high of 21075.71 in early trade. The index fell 182.59 points at the day's low of 20822.37 in late trade.

The S&P CNX Nifty was down 39.25 points or 0.62% to 6,273.20. The Nifty hit a high of 6,335.90.

The BSE Mid-Cap index fell 0.08%. The BSE Small-Cap index rose 0.08%. Both the indices outperformed the Sensex.

The BSE clocked turnover of Rs 5137 crore.

Market Breadth:

Positive 1460 Negative 1552 Unchanged 71
From the 30 share Sensex pack, 21 fell and rest rose.

Interim dividend at Rs 6 per share says Polyplex Corporation

The interim dividend of Polyplex Corporation Limited has been announced at the rate Rs 6/- per equity share of Rs 10/- each for the FY 2010-11. The company had informed this to the Exchange after its BOD meeting conducted on November 04, 2010.

Revenue increases 14-15% in FY11 says Essel Propack

Essel Propack assumes its laminated tubes business, an important portfolio to increase 14-15% in FY11 compared to 9% last year. President R. Chandrasekhar said sales in India, China and Mexico expected to increase above the overall growth and US-Europe would see a modest growth in current year.

US expects larger market access to India's infra and energy sectors

Francisco Sanchez, the US Under Secretary of Commerce for International Trade said US wants a larger market access to India's infrastructure and energy sectors. Sanchez addressed this during an event prepared by Confederation of Indian Industries(CII) after US President Barack Obama's visit to India.

Metals prices after post QE2

The second round of quantitative reduction ended and expected to increase commodities pack, particularly of metals. There were reports, steel mills reducing their prices by around 2-3% as import prices continued to decrease. Now there is a concern that demand may not post monsoon season when construction demand rises.

Vascon Engineering declares its Q2 results

Vascon Engineering announced results for quarter ended September 2010. The total income in Q2 was at Rs 207 crore and half-yearly it is about Rs 400 crore, net profit was at Rs 17 crore, a 34% increase compared to last year same time. MD of company R.Vasudevan informed about the quarter results.

Power output in India increased to 8.4% in Oct

The power output in India increased to 8.4% annually in October which is highest since August 2009 due partly to capacity addition with hydro, gas and nuclear plants generating more electricity. The electricity produced during last month was 70.6 gigawatt hours, up from 65.1 GWh in October 2009.

Govt says share sales of MOIL, Shipping Corp by November end

The share sales of Manganese Ore India Ltd (MOIL) and Shipping Corp expected to enter into market by November end and an offer by Hindustan Copper is expected in December said Sumit Bose, Disinvestment Secretary. Share sales are portion of government plan to sell stakes in 60 Indian state-run firms.

Declared the Q3CY11 numbers said Megasoft

Megasoft has declared its Q3CY11 numbers with combined revenue at Rs 42.85 crore versus Rs 42.19 crore QoQ. The company's PAT increased to Rs 6.08 crore versus Rs 5.19 crore QoQ. GV Kumar MD & CEO of the company informed about the results and their future plans.

CIL included in huge capital segment of MSCI Global

Coal India will be included in the huge capital segment of MSCI Global Standard Indices starting from close of November-19. Coal India increased $3.4 billion in an IPO gaining shares about 40% in their trading debut on Thursday, making it fourth-largest Indian stock by the market value.

India plans for opening a multi-brand retail sector

Anand Sharma, Trade Minister said India has a positive attitude about opening a multi-brand retail sector to foreign firms. The retail sector is mainly closed to foreign firms and favors only small family-run stores with 51% of foreign direct investment permitted only in the single-brand retail sector.

CIL to renew proposal made for land-loser

Coal India expected to renew its proposal for financial inclusion of those losing land because of mining. The proposal offered land-loser a futuristic value of their assets. CIL had proposed 3% divestment of Government holding on the trust that was built by company earlier to 10% divestment for IPO.

FPO money worth Rs 22,600cr for projects says Power Grid

SK Chaturvedi of Power Grid Corp said company has allocated capital expenditure of $27 billion for 2012-2017. They also plan to increase 1.7 billion in share sale, offering 841.7 million shares, 20% of the company and FPO proceeds will be used for thirteen transmission projects worth Rs 22,600 crore.

Diwali Muharat Trading Timings

BSE and NSE Stock Markets will open on Friday, 5th November 2010 from 6 PM to 7 PM for Diwali day Muharat trading.



Happy Diwali!

Deepawali free stock tips
http://blog.vjondalalstreet.com/2010/11/deepawali-wishes-and-one-day-free-tip.html

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5th Nov, 2010

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