From month of April to November, financial shortage at USD 41.6 billion

India’s monetary shortage from April to November was Rs. 1.86 trillion (USD 41.6 billion), or 48.9 percent of the entire year objective, according to the administration on Thursday on Friday.

State Bank of India to collect 10000 crore through bonds

State Bank of India has notified the Exchange that the Executive Committee of the Central Board of the Bank, in its conference on December 30, 2010, has accorded endorsement for collecting the capital for an cumulative cost of Rs. 10,000 crore.

JSW Energy attains COD of 2nd Unit of 300 Megawatts

JSW Energy Limited has notified the Exchange concerning the press release which was dated December 30, 2010 with the title “JSW Energr achieves COD of 2nd Unit of 300 MW at its Ratnagiri Plant”.

Police cross-examines Sanjay Gupta over Citi fraud

Sanjay Gupta has been cross-examined bu the Gurgaon police in correlation with the Citibank fraud fixed deposit rip-off. Gupta purportedly possesses the answer that was linked in deceitful agreements.

Administration to clout 60 percent sugar import tax from Janury 1

India will clout 60 percent import tax on sugar from January 1, an administrative source told on Friday. India, the planet’s leading consumer of sugar, plunged 60 percent import tax in early 2009 to prevail over a severe domestic supply scarcity.

Groupon Collects USD 500 million At USD 6.4 billion - USD 7.8 Billion Estimation

Web advertising company Groupon Incorporated, regard as one of the quickest emergent Internet firms in history, has collected USD 500 million by selling an equity venture.

Larsen & Tourbo collects purchase worth Rs 2503 crore

Larsen & Toubo Limited has notified BSE concerning a Press Release which was dated December 31, 2010 with the title “L&T Bags Rs. 2503 Crore Electrical Projects from Domesticated and International Markets”.

R.P.P. Infra Projects aims to go through into Solar Power Project

R.P.P. Infra Projects Limited has notified BSE concerning a Press Release which was dated December 30, 2010 with the title “R.P.P. Infra Projects Limited plans to enter into Solar Power Project”.

Pratibba Industries protects an agreement for construction of 10 multistoried residential towers

Pratibha Industries Limited has notified BSE concerning “Prathiba Inustries Limited secures a contract for construction of 10 Multistoried residential towers at Gurgaon”.

Steel Strips Wheels aims to sell 1.20 lakh wheels to Renault Brazil

Steel Strips Wheels Limited has notified that the firm aims to sales of 120000 wheels to Renault Brazil versus previous protrusion of 105000 for the fourth quarter of fiscal year 2010-11.

Zicom aims to end year with proceeds more than Rs 150 crore

Zicom has sold 2 security system production units to Schneider, which is located in Luxembourg, for Rs 225 crore. The firm’s stock value has leaped 14 percent. The proceeds will be utilized to withdraw debt and to finance its venture into fresh businesses.

Astra Microwave Products issue dividend shares

Astra Microwave Products Limited has notified BSE that the Board of Directors of the Firm at their conference which happened on December 31, 2010 has issued and allocated 2, 72, 75, 075 Equity Shares of Rs. 2/- each, as Dividend shares to those associates.

iGATE to approve legal binding contract post Patni panel endorsement

iGATE is expected to approve a legal binding contract post the Patni panels’ approval. The Patni panel is expected to have a conference as early as Monday to take their last call. The term sheet to sell venture at iGate was confirmed and Patni advocates are verifying their credentials for the stake sale.

Vakarangee Software aims Rs 700 crore income in FY11

Vakrangee Software is one stock which bring together 333 percent in this year. Dinesh Nandwana, Chief Managing Director of Vakarangee Software told that the firm is aiming an income of Rs 700 crore in FY11.

Shekhawati Poly-Yarn IPO invested 10.4 times

The initial public offering (IPO) of textile company Shekhawati Poly-Yarn ended for investment on Wednesday, December 29. The issue has been invested 10.4 times to this point, as each account given by its registrar Sharex Dynamic (India) Pvt. Limited.

Goldman Sachs purchases 14 lakh shares of Punjab & Sind Bank

Public sector enterprise Punjab & Sind Bank saw excellent opportunity on Thursday but as the day begins, the stock mislaid some polish. It ended at Rs 126.40 on National Stock Exchange, with a 5.33 percent premium on the issue price of Rs 120 per share.

Midvalley Entertainment IPO to launch on January 10

Media & entertainment firm Midvalleu Entertainment (MVEL) which can be found in the south will be opening its Rs 6- crore initial public offering (IPO) in January 10, 2011. The issue will end for subscription on January 11. The price band and lowest offer lot will be declared shortly.

C Mahendra will raise grip in diamond jewelry business

Diamond jewelry producer C Mahendra Exports which is located at Guirat aims to augment up to Rs 1650 crore through its initial public offering (IPO) and has stabilized a price band of Rs 95 - 110 per share for the bid.

BSE Sensex surges 0.59% on upbeat market

The BSE 30-share Sensex was up 120.02 points or 0.59% to 20,509.09, its highest closing since 11 November 2010. The Sensex rose 162.96 points at the day's high of 20,552.03 in afternoon trade. The index gained 23.69 points at the day's low of 20,412.76 in early trade.

The S&P CNX Nifty was up 32.65 points or 0.54% to 6,134.50, its highest closing since 11 November 2010. The Nifty hit high of 6,147.30 in afternoon trade.

The BSE Mid-Cap index rose 1.14% and the BSE Small-Cap index advanced 1.23%. Both these indices outperformed the Sensex.

All the sectoral indices on BSE rose. Realty index (up 2.4%), banking sector index Bankex (up 1.4%), Auto index (up 0.93%), Consumer Durables index (up 0.72%), Power index (up 0.69%) and PSU index (up 0.64%), outperformed the Sensex.

The BSE IT index (down 0.04%), FMCG index (up 0.29%), Capital Goods index (up 0.45%), Oil & Gas index (up 0.46%), Metal index (up 0.5%), Healthcare index (up 0.54%) and underperformed the Sensex.

BSE clocked turnover of Rs 3382 crore, lower than Rs 3533.03 crore on Thursday, 30 December 2010.

Market Breadth:

Positive 2016 Negative 965 Unchanged 86
From the 30 share Sensex pack, 22 rose and rest fell.

BSE Sensex climbs 0.66% as each sector in upbeat mode except oil & gas

The BSE 30-share Sensex was up 133.04 points or 0.66% to 20,389.07, its highest closing since 11 November 2010. The Sensex rose 154.88 points at the day's high of 20,410.91 in late trade.
The index gained 18.09 points at the day's low of 20,274.12 in early trade.

The S&P CNX Nifty was up 41.50 points or 0.68% to 6,101.85, its highest closing since 15 November 2010. The Nifty hit high of 6,106.40 in late trade.

The BSE Mid-Cap index rose 0.73% and outperformed the Sensex. The BSE Small-Cap index advanced 0.43% and underperformed the Sensex.

Barring the BSE Oil & Gas index, all the other sectoral indices on BSE rose. The BSE Consumer Durables index (up 1.32%), Realty index (up 1.26%), IT index (up 1.04), Metal index (up 0.98%), PSU index (up 0.97%), Power index (up 0.96%), Auto index (up 0.86%), and Capital Goods index (up 0.81%), outperformed the Sensex. The BSE FMCG index (up 0.47%), Healthcare index (up 0.41%), banking sector index Bankex (up 0.21%) and Oil & Gas index (down 0.06%), underperformed the Sensex.

BSE clocked turnover of Rs 3,178 crore, higher than Rs 2,946.15 crore on Wednesday, 29 December 2010.

Market Breadth:

Positive 1667 Negative 1248 Unchanged 107
From the 30 share Sensex pack, 25 rose and rest fell.

Punjab & Sin Bank closes with 5.33 percent premium on its opening

Government controlled Punjab & Sind Bank closes down with just 5.33 percent premium on its opening at Rs 126.40 in opposition to issue price of Rs 120 per share on National Stock Exchange. The stock reached an intraday high of Rs 146.70 and low of Rs 126.20 following a launching at Rs 144.

RIM tells that India tool only for customer services access

Blackberry manufacturer Research In Motion told on Thursday that the network data analysis system (NDAS) was a device to get legal access only to its customer services comprising BlackBerry Messenger, and doesn’t allow access to vastly protected corporate emails on its devices.

PNB searches for partners for insurance business

Government owned Punjab National Bank (PNB) told that it has bid expression of interest (Eol) from Indian and foreign firms for strategic partnership in insurance business. PNB is searching for at both life and non-life business and is assessing the possibilities.

iGATE is expected to pass strategy report to Patni in the following week

iGate is expected to pass strategy report to Patni board in the following week. iGates is in meetings to finance Patni acquirement through debt and equity sale.

KS Oils signs allocation of 1.64 crore equity share to advocates

KS Oils Limited has notified BSE that the Board of Directors of the Company at its conference which will happen on December 30, 2010, have signed the following: Allocation of 1, 64, 61, 1337 Equity shares of Rs 1/- each to advocates on conversion of warrants to advocates on July 1, 2009 at Rs. 54.50/- per equity shares.

November infrastructure production up 2.3 percent YoY, Administration says

India’s Infrastructure division increased 2.3 percent in November from a year before, more sluggish than an upwardly amended progress of 8.6 percent every year in October, according to an administration account which was shown on Thursday.

Corporation Bank amends base rate to 8.90 percent from 8.25 percent

Corporation Bank has notified the Exchange that the Bank has amended the Base Rate for loaning from 8.25 percent to 8.90 percent p.a. with outcome from January 03, 2011.

Baring PE endows USD 90 million in Cethar Vessels

In one of its biggest private equity endowments to date, Baring Private Equity Partners India today declared an investment of USD 90 million in Cethar Vessels Limited, the second biggest producer of boilers for power plants, for a minority venture.

Bessemer, Lightspeed endows Rs 70 crore in IEX

Silicon Valley leads financiers Bessemer Venture Partners and Lightspeed Venture Partners in financing Rs 70 crore in Indian Energy Exchange (IEX), the nation’s biggest power trading exchange.

Manganese Ore in meeting with Gabo

Manganese Ore India (MOIL) is in meeting with Gabon’s administration on purchasing potential mining concessions in the central African state. Gabon is the globe’s second-biggest supplier of manganese which is used in the manufacturing of stainless steels.

Alternative option to add 20 percent stake in Techmart: HCL Info

IT hardware supplier HCL Infosytems told on Thursday that it will acquire a 20 percent stake in Dubai’s Techmart Telecom Distribution FZCO in an offer to spread out in the Middle East.

Price increase and financial policy in Asia: FACTBOX

Increasing costs of oil create an additional dispute to Asian legislators who struggle with high value of food, skeptical about the power of worldwide upturn and rising and falling foreign capital inflows.

HCL Infosystems purchases Dubai’s Techmart Telecom distribution

In its ongoing spreading out through inorganic route into the Middle East, IT Hardware producer and systems integrator HCL Infosystems has purchased 20 percent equity venture in Techmart Telecom Distribution FZCO which is located in Dubai.

C. Mahendra exports IPO to collect up to Rs 165 crore

Diamond jewelry producer C. Mahendra Exports Limited aims to collect up to Rs 165 crore through initial public offering and has predetermined a price band of Rs 95 to 110 per share for the offer.

Esab India announces second interim dividend at Rs 10 a share

Esab India Limited notified BSE that the Board of Directors of the Company at its conference which happened on December 30, 2010, has announced a Second Interim Dividend at the value of Rs. 10/- per equity share of Rs. 10/- each (100 percent) for the fiscal year 2010 on the entire paid-up equity share capital of Rs 15, 39, 200/-.

ICRA hands over grade 3 to ICOMM Tele IPO

ICRA hand over an IPO Grade 3, demonstrating standard ground rules, to the recommended initial public offering (IPO) of ICOMM Tele. ICOMM is first and foremost an engineering procurement and construction (EPC) firm which focuses on providing infrastructure solutions.

Net Alter Software aims IPO to finance Rs 48 crore for venture

A software development firm Net Alter Software is aiming to go into capital market with an initial public offering (IPO) of 39 lakh equity shares. It has listed draft red herring prospectus (DRHP) with marke watchdog SEBI.

PFC, Hind Copper, IOC FPOs expected in first quarter of FY12

Follow on public offers (FPOs) of Power Finance Corporation (PFC), Hindustan Copper and Indian Oil Corporation (IOC) are expected to be opened in the first quarter of FY12. About eight to nine FPOs are projected in FY12, which comprises Rashtriya Ispat Nigam (RINL), MMTC, National Buildings Construction Corporation (NBCC) and STC India.

Gitanjali Gems purchases 90 percent venture in Giantti Italia S.R.L.

Gitanjali Gems Limited has notified the Exchange that the Firm has purchased 90 percent venture in ‘Giantti Italia S.R.L.’, a Firm located in Milan, Italy. The Firm has purchased the said venture from its entirely owned subsidiary ‘Gitanjali Ventures DMCC which is located in Dubai.

Tata Coffee; January 24, 2011 list date for disbursement of dividend

Tata Coffee Limited has notified the Exchange that the Board of Directors of the Company at its conference which happened on December 28, 2010 has announced an interim dividend of Rs 5.00 per share on the paid-up Equity Capital of the Company for the recent fiscal year.

Mukta Arts will put in more 14 theatres

Mukta Arts Limited has notified the Exchange that “In further boost to its Exhibition business, Mukta Movies Distributors ( a Division of Mukta Arts Limited) has put in 14 more theatres to its Kitty in the area of C.P. Berar as known in Film Trade which includes Vidharba and Chattisgarh”.

Powersoft Global Solutions allocates bonus issue

Powersoft Global Solution Limited notified BSE that the Board of Directors of the Company at its conference which happened on December 29, 2010, has created allocation of 22, 583, 799 Equity shares of Rs. 10/- each as bonus issue to the investor whose names were showing in the Register of Members as on account date i.e. December 28, 2010.

Oil products in November’s sales rises up to 0.9 percent Year on Year

In the latest development, India’s local oil product sales in November rimmed up to 0.9 percent as festival season and elections in Bihar shored up for demands in the rising country.

DUTYA Birla Group to select Apicorp Venture in Egyptian joint venture

Arab Petroleum Investment Corporation (Apicorp), the multilateral development bank of the OAPEC (Organization of Arab Petroleum Exporting Countries) nations, will arrange its whole 12 percent venture in Alexandria Carbon Black Company (ACBC), which is located in Egypt, to foremost shareholder Aditya Birla Group, for an unrevealed price.

Shanti Microfinance Opens USD 772,000 MFI Fund

Shanti Microfinance, a not-for-profit institute, is collecting a USD 772,000 (£500,000) fund supported by the United Kingdom and Silicon Valley entrepreneurs and venture capitalist. The company has by now spent £10,000 and aims to begin its operation in Gujarat prior to moving to Mumbai the following year.

JM Financial Products guarantees equity shares

JM Financial Products Limited had notified the Exchange concerning “The creation of pledge of 15, 14, 690 equity shares being 9.20 percent of the share capital of Zylog Systems limited in JM Financial Product’s favor, necessary under Regulation 7 (1) of SEBI (Substantial Acquisition of Shares and Takeovers, 1997”.

Tulsi Extrusions aims Rs 90 million revenue this year

Chief Financial Officer Sudarshan Taparia told that in India there is no alternative to edible technology in agriculture since there is a need to have improved seeds and improved agricultural schemes.

Moonbeam Capital put in finance in CRM provider PK4 Software

Moonbeam Capital Managers Pvt. Limited, an investment and advisory company located in Gurgaon, which currently purchased another city-based early stage financing New Growth Capital, has invested in PK4 Software technologies Pvt. Limited, a Saas (software as a service) firm located at Bangalore.

Manappuram General Financing hopes 75 percent increase in earnings next year

The Manappuram Group got through the jewelry retail business with its personal trade mark Manappuram Jewelry in March. The business is not a derivative of Manappuram General Finance, the firm which supplies finance against gold.

Nitin Fire Protection hopes returns of Rs 200 crore in FY 12

Chief Managing Director Nitin Shah of Nitin Fire Protection Industries told that Nitin Cylinder did a selling of more or less Rs 50 crore per annum. At the start, the industry wasn’t doing fine and presented a profitability of 5 to 6 percent, that’s why the company tied up with one of the biggest firm in the planet which is Worthington Industries, he added.

India Nippon Electricals announces provisional dividend at Rs 5 per share

India Nippon Electricals Limited notified the Exchange that at its conference which happened on December 29, 2010, the board has decided to announce a provisionary dividend of Rs 5 per share.

BSE Sensex soars 1.15%% as every sector rises

The BSE 30-share Sensex jumped 230.61 points or 1.15% to 20,256.03, its highest closing level since 15 November 2010. The Sensex rose 248.78 points at the day's high of 20,274.20 in late trade. The index gained 29.22 points at the day's low of 20,054.64 in early trade.

The S&P CNX Nifty rose 64.35 points or 1.07% to 6,060.35, its highest closing level since 15 November 2010. The Nifty hit high of 6,067.55 in late trade.

The BSE Mid-Cap index underperformed the Sensex, rising 0.51%. The BSE Small-Cap index outperformed the Sensex, advancing 1.13%.

BSE clocked turnover of Rs 2929 crore, higher than Rs 2708.45 crore on Tuesday, 28 December 2010.

All the thirteen sectoral indices on BSE rose. Consumer Durables index (up 1.93%), FMCG index (up 1.64%), Metal index (up 1.48%) and the banking sector index Bankex (up 1.46%), outperformed the Sensex.

Auto index (up 0.83%), TECk index (up 0.82%), PSU index (up 0.80%), Capital Goods index (up 0.53%), IT index (up 0.40%), Power index (up 0.39%), Healthcare index (up 0.29%), Oil & Gas index (up 0.29%) and Realty index (up 0.26%), underperformed the Sensex.

Market Breadth:

Positive 1782 Negative 1082 Unchanged 186
From the 30 share Sensex pack, 27 rose and rest fell.

OPEC warning on output might aid to return USD 100 oil

Oil has rip open over prominent exporter Saudi Arabia’s favored USD 70 - USD 80 range and so far OPEC is improbable to end the rally, assisting to arrange the path for the market to leap over $100 per barrel.

RBI, Iran bank representatives’ caucus on payments issue

Iran central bank has requested for a caucus with its Indian equivalent on payment issues for crude imports from the Islamic Republic, according to a representative from Reserve Bank of India on Wednesday.

Power secretary looks forward to last position on Orissa UMPPs in 2 days

Only a few days past when environment minister Jairam Ramesh had tipped-off that 2 ultra mega power ventures might go in front of the axe with the recommended one at Bedabahal in Orissa.

Punjab and Sind Bank will file shares on December 30

Government’s Punjab and Sind Bank will list its equity shares, which issued currently through public issue, on exchanges on December 30, 2010. It has preset issue price at upper end of price band Rs 113-120 per share.

Joyalukkas aims to collect Rs 650 crore through its IPO

Jewelry retailer, producer and exporter Joyalukkas is prepared to file a red herring prospectus for its intend initial public offering (IPO). The advocates will dilute 25 percent of their venture.

State Bank of Travancore signs right issue

State Bank of Travancore has notified BSE that the Board of Directors of the Bank at its conference held on December 28, 2010, have signed the increase of Rs 500 Crores (together with premium) of capital via Right Issue.

LMW trade in 11.08 lakh shares at Rs 2045 per share

Enam Securities Pvt. Limited notified the Exchange that Public Announcements is issued in agreement with the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, as amended.

Administration to be expected to declare FDI policy on LLPs in January

The administration is expected to accompany during the New Year with some prominent policy transformation. Essential foreign direct investment (FDI) policy declarations are expected to be announced in January 2011.

Idea Cellular Managing Director to resign before term

Idea Cellular, India’s No. 6 mobile phone operator, late on Monday told that its managing director might resign from his position in advance of his listed retirement, refusing to give additional information.

Administration evaluates diesel price verdict

The administration will saunter a stiff cord on Thursday amid increasing diesel prices to lessen the weigh down of subsidies or holding them balanced to maintain a lid of price increases and steer clear of political and public protest.

Tax division orders Satyam to audit

In the latest development, Satyam Computer Services told on Tuesday that the income tax department has ordered it to search out its data audited for appraisal years 2002 / 03 and 2007 / 08.

RBI issues amended norms on OTC FX offshoot

The Reserve Bank of India (RBI) on Tuesday issued amended norms on over-the -counter foreign exchange offshoots and overseas prevarication of product cost and shipment hazards. The amended norms will be of use from February 1.

Maytas Infra, Gayatri mutually receive purchase worth Rs 1130 crore

Maytas Infra and Gayatri Projects have succeeded to get a transaction worth Rs 1130 crore from the administration of Nagaland for widening of roads, according to Mayas Infra on Tuesday.

Euro Zone transformation does not go far as much as necessary, says Mersch

Current transformations of euro zone authority have not gone far as much as necessary, according to the European Central Bank Governing Council member Yves Mersch on Tuesday.

Gitanjali Gems purchases 90 percent in Italian Company

Gitanjali Gems told on Tuesday it has purchased 90 percent venture in an Italian frim Glantti Italia S.R.L. making the latter its direct contributory. The firm did not unveil monetary information of the transaction.

Mind Tree to abide costs up to USD 3.9 million on wireless business

IT services company MindTree told on Tuesday that it will acquire costs of more or less USD 3.6 - 3.9 million associated to the reorganizing of its wireless business into a design service firm.

IRDA signs regulatory nod to 2 insurance joint business enterprises

Insurance Regulatory and Development Authority (IRDA) has prearranged regulatory nod to two insurance joint business enterprises. IRDA has settled R1 authorization to both Edelweiss-Tokio Life Insurance Joint Venture and Religare-Union Bank Helath Joint Venture.

India lengthens export ban on pulses in anticipation of further instruction

India, the globe’s biggest manufacturer and consumer of pulses, has lengthened ban on pulses exports in anticipation of further instruction, according to farm minister Sharad Pawar on Tuesday, as it fights over food inflation.

NTC places set aside price got 2 possessions in Gujarat

National Textile Corporation, which is putting on the market its mill lands all over the nation, told on Tuesday that it has place hold back prices for an online public sale of two properties in Gujarat.

Adharshila Venture Capital Fund put on the market for 8.4 lahk shares of Ravi Kumar

It was an awe-inspiring retort to shares of Ravi Kumar Distilleries on its first day, which saw 227 bulk transactions. A share finalized at Rs 79.30 on National Stock Exchange, with increase of 23.91 percent on issue price of Rs 64, following an intraday strike high of Rs 91 and low of Rs 72.

Stay away from Shekhawati Poly-Yarn IPO, MLR Securities advises

Initial Public Offering (IPO) of fabric industry Shekhawati Poly-Yarn is open for investment. MLR Securities has suggested to avoid the issue, mentioning exorbitant valuations weigh against to peers, according to its study account dated December 27, 2010.

Sudar Garments arranges IPO to finance opening out

Sudar Garments, connected in the production of garments for men’s wear, women’s wear and kid’s wear, intends to get into the capital markets quickly to achieve its financing requisite for opening out of the subsisting apparel production facility, creation of retail branches and brand building.

C Mahendra Exports places IPO price band at Rs 95-110 per share

Diamond jewelry top competitor C Mahendra Exports has secured a price band of Rs 95-110 per share for its initial public offering (IPO) of 150 lakh equity shares, as per firm’s advertisement in Business Standard.

BSE Sensex slightly dips 0.02% but FMCG, healthcare lead trading upsurge

The BSE 30-share Sensex fell 3.51 points or 0.02% at 20,025.42. The Sensex rose 61.48 points at the day's high of 20,090.41 in early trade. The index shed 47.17 points at the day's low of 19,981.76 in afternoon trade.

The S&P CNX Nifty fell 2.10 points or 0.04% at 5996. It gyrated between a high of 6010.90 and low of 5982.25 in the day.

The BSE Mid-Cap index rose 0.07%. The BSE Small-Cap index rose 0.33%. Both the indices outperformed the Sensex.

BSE clocked turnover of Rs 2604 crore lower than Rs 3065.31 crore on Monday, 27 December 2010.

FMCG index (up 0.63%), Healthcare index (up 0.47%), TECk index (up 0.34%), IT index (up 0.29%), Power index (up 0.19%), Realty index (up 0.19%) and Metal index (up 0.16%), outperformed the Sensex.

Consumer Durables index (down 0.14%), the banking sector index - the Bankex (down 0.21%), Capital Goods (down 0.28%), Auto (down 0.35%), PSU (down 0.46%) and Oil & Gas (down 0.74%), underperformed the Sensex.

Market Breadth:

Positive 1391 Negative 1433 Unchanged 190
From the 30 share Sensex pack, 18 rose and rest fell.

BSE Sensex declines 0.22% as metal, realty spearhead market downturn

The BSE 30-share Sensex was down 44.73 points or 0.22% to 20,028.93. The Sensex rose 116.47 points at the day's high of 20,190.13 in mid-morning trade, its highest level since 6 December 2010. The index declined 63.33 points at the day's low of 20,010.33 in late trade.

The S&P; CNX Nifty was down 13.50 points or 0.22% to 5,998.10. The Nifty hit high of 6,045.75 in mid-morning trade, its highest level since 6 December 2010.

The BSE Mid-Cap index fell 0.17%. The BSE Small-Cap index advanced 0.21%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2678 crore, lower than Rs 2980.62 crore on Friday, 24 December 2010.

Most sectoral indices on BSE declined. The BSE Metal index (down 1.24%), Realty index (down 0.82%), PSU index (down 0.51%), Power index (down 0.35%), FMCG index (down 0.30%), TECk index (down 0.26%), underperformed the Sensex.

Healthcare index (up 0.61%), IT index (up 0.25%), Consumer Durables index (up 0.23%), Capital Goods index (down 0.07%), banking sector index Bankex (down 0.08%), Auto index (down 0.10%) and Oil & Gas index (down 0.20%), outperformed the Sensex.

Market Breadth:

Positive 1461 Negative 1399 Unchanged 157
From the 30 share Sensex pack, 19 fell and rest rose.

Mandhana Industries aims Rs 800 crore in proceeds this year

Mandhana Industries has engaged with Salamn Khan Foundation to lay concrete on the path for its incursion into the retail space. Being Human, the brand endorsed by Salman Khan will help Mandhana get traction inside the retail space.

Ramky Infra aims Rs 4000 - 4200 crore proceeds the following year

Ramky infra has seen a considerable sum of loss in value following the listing. Sanjiv Iver of Ramky Infra told that they began off the year with Rs 76 crore of book purchase and recently the company is at Rs 11,500 as of September 30.

Howling traverse of auto firms in 2010

As 2010 comes down to an end, there are events those labels the turbulent year. Starting with the strings with the auto space, which is a firm that has something for everybody such as new openings, acquirements and prestigious splits. Fresh openings dominate the banners the entire year. From simple cars for the ordinary individuals, to sophisticated models - customers were in fact spoilt for variety in 2010.

ONGC tries to save FPO for this financial year

India Oil’s follow-on public offering (FPO) was the initial victim of the crude price coil and has now been suspended to 2011-12. Assumption is prevalent since ONGC’s issue might also suffer the same outcome if the subsidy-sharing procedure is not completed soon.

Rakesh Jhunjhunwala purchases 5 lakh shares of A2Z Maintenance

Rakesh Radheyshyam Jhunjhunwala which already has various ventures in firm purchased additional 5 lakh shares of A2Z Maintenance and Engineering Services at Rs 352.12 per share on Thursday, which valued at Rs 17.61 crore.

FPO will take place by early February, according to SAIL

There is information that International Coal Ventures (ICVL), a conglomerate of government-owned firms, is mulling over counter-bid for Riverside. Chairman Cs Verma of Steel Aithority of India (SAIL) and ICVL told that they will make an assessment on the Riverside offer in two weeks.

C Mahendra Exports IPO launches on December 31

Diamond jewelry top firm C Mahendra Exports is going into the capital market with an initial public offer (IPO) of 1.5 crore equity shares of Rs 10 each on December 31, 2010.

Shekhawati Poli-Yarn IPO launches for investment

The 1.2 crore equity shares’ initial public offer (IPO) of textile company Shekhawati Poly-Yarn has lunched for subscription today. The firm focuses to collect Rs 36 crore via IPO at fixed value of Rs 30 per share. The issue will comprise 54.54 percent of the entire weakened post issue equity share capital of the firm.

Ravi Kumar Distilleries finishes with 24 percent premium on first appearance

Ravi Kumar Distilleries sealed with shrewd increase though there was some proceeds booking at upper stages in previous trade. A share sealed at Rs 79.30 on National Stock Exchange, with growth of 23. 91 percent on issue price of Rs 64, following an intraday battering at high Rs 91 and low of Rs 72.

BSE Sensex drops 0.16% as almost all sectors on red

The BSE 30-share Sensex shed 32.92 points or 0.16% to 19,982.88. The index fell 76.50 points at the day's low of 19,939.30 in early afternoon trade. The Sensex rose 60.28 points at the day's high of 20,076.08 in morning trade.

The S&P CNX Nifty fell 4.40 points or 0.07% to 5,980. The Nifty hit high of 6,006.45 in early trade.

The BSE Mid-Cap index underperformed the Sensex, falling 0.23%. The BSE Small-Cap index outperformed the Sensex, falling 0.13%.

Most sector indices on BSE declined. Power index (down 0.19%), PSU index (down 0.31%), FMCG index (down 0.49%), Auto index (down 0.83%), Capital Goods index (down 0.88%), Realty index (down 0.89%), Metal index (down 0.97%), Consumer Durables index (down 1.11%), underperformed the Sensex. The BSE Healthcare index (up 0.69%), IT index (up 0.27%), Teck index (up 0.18%), Banking sector index Bankex (up 0.06%) and Oil & Gas index (down 0.14%), outperformed the Sensex.

Market Breadth:

Positive 1331 Negative 1479 Unchanged 178
From the 30 share Sensex pack, 20 fell and rest rose.

StantChart Private Equity close to entirely exiting M&M; finance services

Standard Chartered Private Equity (SCPE) is definitely on a way out course from its 2 ½ years old financing in auto finance company Mahindra & Mahindra Financial Services, selling additional portion of shares in lieu of 1.4 percent of its balance 2.2 percent on Wednesday.

BHEL hopes administration to take plan to help domestic manufacturers

Indian capital goods firms have been in front of stiff contest from their Chinese counterparts with the latter obtaining unswerving purchase from the country. Chairman BP Rao of capital goods foremost BHEL told that the matter is being conferred with the administration.

Security issues on 3G to be determined almost immediately, Sibal

Security issues on third generation (3G) video calls will be determined almost immediately, India’s telecoms minister Kapil Sibal told on Thursday. India will impede telecom companies from bidding non-voice 3G mobile services in seven days except they present these facilities can be tapped live.

Koutons Retail in discussions to sell 15 percent venture

Koutons Retail India is in view of selling up 15 percent ventures to collect funds to pay out debt and revitalize its operations. A small number of private equity banks like TPG Capital and Banyan Tree Finance, and apparel firm which is based in Mumbai are in caucus with the founders of Koutons Retail for a transaction.

RBI advocates banks to maintain lending to microfinance companies

The Reserve Bank of India advocated commercial banks to keep on lending to the microfinance companies, following an onslaught on their operations by Andhra Pradesh administration hold back collections and fresh business.

Spanco obtains purchase costing Rs 85 crore

Spanco Limited has notified BSE about a Press Release which was dated on December 23, 2010 with the title “Spanco Limited Bags Goa State Electricity Board R - APDRP Project worth Rs. 85 Crores”.

Aurum Soft Systems commends bonus shares in ration of 1:2

Aurum Soft Systems Limited has notified BSE that the Board of Directors of the Company at its conference which happened on December 23, 2011, has subject to sanction of investors at the Extraordinary General Meeting which will happen on January 19, 2011.

Oil India announces interim dividend at Rs 18 per share

Oil India has notified the Exchange that the Board of Directors at its caucus which happened on December 22, 2010 has announced an interim dividend of Rs 18 per share (i.e. 180 percent) for the year 2010 - 11.

Onion costs plunge 22 percent on duty-free imports

Onion prices in India plunges over a fifth on Thursday afternoon following the federal administration allocated duty-free imports and limited foreign sales of the bulb. Normal onion cost at the nation’s biggest wholesale onion trading core in Lasalgaon in wester Maharashtra state, plunged by almost 22 percent to Rs 1,800 per 100 kg on Thursday.

BHEL obtain solar facility purchases costing USD 17 million

Indian power equipment manufacturer Bharat Heavy Electricals told on Thursday that it has protected bonds costing 780 million Rs (USD 17 million) to set of connections of three solar photovoltaic power facilities.

United Spirits aims to purchase 2 distillation units in FY11

United Spirits, the globe’s biggest spirits by volume, aims to get hold of at least two distillation units this financial year. Managing Director Vijay Rekhi told that the firm is in good shape to get hold of additional distillation units so that the company can progress its self-reliance. The firm is expects to make two purchases in this fiscal year itself.

Sintex to improve its venture in Durha to 51 percent

After purchasing 30 percent venture in Durha Constructions, Sintex Industries is aiming at improving implementation aptitudes. Sunil Konojia, Group President of Sintex Industries, told that the firm anticipates progress of more or less 50 percent the following year and an increase of margins somewhere in the array of 200 bps to 300 bps.

Discover: What is the recent position of MFI industry?

Bankers talk with senior representatives at the Reserve Bank of India to talk about lending to microfinance institutions (MFIs) yesterday. Tossing light on the conference, senior banking representatives told that the RBI has inquired banks not to obstruct funds to MFIs.

Mounting onion costs affecting price increase in food, Pranab says

Mounting onion costs in India are affecting price increase in food every week, according to Finance Minister Pranab Mukheriee on Thursday. Previously, India’s price increase in food stepped up to 12.13 percent in the year to December 11, from 9.46 percent during the preceding week, as onion costs increased about 4.6 percent from a week ago.

Board approval is a must for diesel price increase over Rs 2 per liter

Any increase over Rs 2 per liter in diesel must be commended by a ministerial board, according to Oil S Sundareshan on Thursday. India could settle on increasing the diesel price and cooking gas rates at a ministerial conference on December 30, an act that could fondle price increase but would aid reduce oil retailers from increasing worldwide crude costs.

PTC India tells unit files documents for IPO

Power trade PTC India told on Wednesday that its subsidiary PTC India Financial Services has filed regulatory submission for its initial public offering of ownerships. It focuses to open the IPO in the financial year to March 2011 by selling 12.7 million new shares.

A2Z Maintenance floats behind issue price

Shares of Engineering, procurement and construction (EPC) contractor A2Z Maintenance and Engineering Services witnessed fine listing today but instantly floated beneath its issue price. Overcharge and lower investment might be the cause following this sell-off today.

GoAir aims to collect Rs 4-5 billion through IPO

Cheap airline Goair is aiming to collect Rs 4-5 billion through an initial public offering to settle up debt and purchase additional airplane. The airline based in Mumbai possessed by the Wadia group is in discussions with investment banks like Enam Financials to control the bid.

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BSE Sensex dips 0.22% as oil & gas, capital goods lead market downfall

The BSE 30-share Sensex was down 44.52 points or 0.22% to 20015.80. The Sensex rose 90.93 points at the day's high of 20,151.25 in early trade, its highest level since 6 December 2010.

The index lost 129.01 points at the day's low of 19,931.31 in mid-afternoon trade.

The S&P CNX Nifty was down 16.25 points or 0.27% to 5,984.40. The Nifty a hit a high of 6,023.80 in morning trade, its highest level since 6 December 2010.

The BSE Mid-Cap index rose 0.1% and the BSE Small-Cap index rose 0.3%. Both these indices outperformed the Sensex.

Sectoral indices were mixed. Oil & Gas index (down 0.71%), Capital Goods index (down 0.61%), Banking sector index Bankex (down 0.55%), Consumer Durables index (down 0.47%) and IT index (down 0.24%) underperformed the Sensex.

The BSE Metal index (up 0.65%), PSU index (up 0.27%), FMCG index (up 0.26%), Teck index (up 0.19%), Power index (up 0.05%), Realty index (up 0.02%), Auto index (down 0.15%) and Healthcare index (down 0.19%) and outperformed the Sensex.

BSE clocked turnover of Rs 3811 crore higher than Rs 3596.05 crore on Tuesday, 21 December 2010.


Market Breadth:

Positive 1526 Negative 1437 Unchanged 101
From the 30 share Sensex pack, 15 rose and rest fell.

Administration eager to accept 1/3 of FY11 fuel subsidy

The administration is eager to accept one-third of fuel subsidies in the financial year that ends in March 2011, according to Finance Secretary Ashok Chawla on Wednesday. Oil marketing firms’ revenue loss on fuel sales in the recent financial year is approximated at USD 14.6 billion, Oil Secretary S. Sundareshan had said on Tuesday.

Adidas to progress quicker than Nike

German sporting goods firm Adidas will increase quicker than United States competitors Nike in 2015, Adidas Chief Executive Herbert Hainer said. He added that it was imperative for the firm to target for sustainable and incessant progress rather than the highest revenue for 2015.

Maruti Suzuki aims sales up 31 percent in FY 2011

India’s top car manufacturer Maruti Suzuki anticipates sales in the financial year to increase 31 percent from the previous year, a prominent executive said on Wednesday, as car demand rushes in Asia’s third-biggest economy.

ING Vysya aiming to climb base rate in the following quarter

ING Vysya Bank is aiming at climbing its base rate in the following quarter, a prominent administrator said on Wednesday. Managing director and Chief Executive Officer Shailendra Bhandari told that deposit rates have moved out, so when banks as well as ING Vysya amends base rates they are probable to be superior.

Gas leaks at Dr Reddy’s facility in Andhra Pradesh kill two

The demise of two individuals at Dr Reddy’s Laboratories’ facility, which the police explained was caused by gas outflow, has not affected manufacturing at the plant, according to a drug maker.

Carborundum anticipating launch proffer soon from Winterthur Tech

Managing Director K Srinvasan of Carborundum Universal told that Wendt India is a Joint Venture between Carborundum and Wendt GMBH of Germany. Wendt GMBH itseld is a 100 percent subsidiary of Winterthur Tech, a Zurich listed firm.

Aiming at 18-21 percent maintained volume progress, Escorts says

Executive Director and Chief Executive Officer Rohntash Mal of Escorts cleans the atmosphere of frustrations in the presentation of the last quarter. He told that the firm has been clocking progress levels of between 30 percent and 35 percent year-on-year.

Kavveri Telecom looks forward to EBITDA of 45-50 percent post contract

Kavveri Telecom Infrastructure, a subsidiary of Kavveri Telecom Products, has approved an extensive term treaty for ten years on BOL (build, own, operate and lease) basis with Seventh operator, who is one of the foemost pan-India cellular operators, for the in-building wireless solution.

TT Limited aims Rs 500-550 crore income this year

Joint Managing Director of TT told that the firm have signed a memorandum of understanding (MOU) with a huge Chinese textile firm the previous week, when they were behind with the Chinese handing over, which is valued at approximately USD 10 million for the following calendar year.

Compucom Software aims Rs 13 crore proceeds this year

Managing Director Surendra Kumar Surana of Compucom Software told that the company will definitely be doing more or less Rs 24 to Rs 25 crore top-lines and bottom-lines approximately Rs 13 crore.

PNGRB obtains RIL reason on Kakinada pipeline impediment

Oil regulator Petroleum & Natural Gas Regulatory Board today told that it has obtained Reliance Industries’ clearing up on the impediment in the Kakinada pipeline. PNGRB told that RIL needs to wait for further gas for fresh pipelines.

REC order of approximately Rs 300 crore: Simplex Infrastructure

Simplex Infrastructure has obtained the project to set up 765 KV transmission system from REC Transimissions Projects Comapany via a levy based viable proposition on a Built Operate Transfer (BOT) basis.

Lakshmi Energy & Foods to open well-known basmati product

Chief Managing Director Balbir Singh Uppal of Lakshmi Energy & Foods told that the crops are in Punjab and it is a very good crop. This year the focus is 1 lakh metric tons. Approximately 1,250,000 metric tons is sell over Saudi Arabia and Gulf nations, and Europe including the United Kingdom, Balbir Singh Uppal added.

Telecom Minister maintain caucus with telcos representatives

Telecom Minister keeps on his attempts to unruffled apprehensions and to settle on the way ahead for the controversy incapacitated telecom division. Kapil Sibal had a conference today with Idea Cullular’s Chairman Kumar Mangalam Birla and Vodafone’s CEO Marten Pieters.

Deutsche, Lakshmi Vilas Bank sell 13.9 lakh ownership of Claris

It was a below par moment for Claris Lifesciences, which is closed at Rs 205.85, down 9.71 percent from issue price of Rs 228, with volume of 1.5 crore shares on initial day.

Sabari Inn aims Rs 170 crore IPO

South based Sbari Inn, a division of Sabari Group, has filed draft red herring prospectus (DRHP) with the market watchdog SEBI for its Rs 170 crore IPO. The issue including a new issue of Rs 125 crore and a bid for sale of Rs 45 crore by ICICI Prudential Asset Management Company Limited, India Opportunities Portfolio.

A2Z Maintenance to register shares on December 23

Engineering, procurement and construction (EPC) contractor A2Z Maintenance and Engineering Services will be registering its equity shares on exchanges on December 23. It has predetermined an issue price at lower end of price band of Rs 400 - 410 per share.

Shelhawati Poly-Yarn IPO launches on December 27

Textile Company Shekhawati Poly-Tarn is going into capital market with its initial public offering (IPO) of 1.2 crore equity shares on December. The firm targets to collect Rs 36 crore via IPO at a flat rate of Rs 30 per share.

BSE Sensex surges 0.86% as almost every sector on green

The BSE 30-share Sensex jumped 171.44 points or 0.86% to 20,060.32, its highest closing since 15 November 2010. The Sensex rose 201.96 points at the day's high of 20,090.84 in mid-morning trade. The index rose 36.88 points at the day's low of 19,925.76 in early trade.

The S&P CNX Nifty was up 53.60 points or 0.9% to 6,000.65 its highest closing since 2 December 2010. The Nifty a hit a high of 6,007.45 in late trade.

The BSE Mid-Cap index rose 0.79% and underperformed the Sensex. The BSE Small-Cap index rose 0.95% and outperformed the Sensex.

Most sectoral indices on BSE rose. The BSE Metal index (up 2.76%), Banking sector index Bankex (up 2.34%), Realty index (up 1.25%), outperformed the Sensex. The BSE Healthcare index (down 0.32%), Teck index (down 0.24%), IT index (down 0.17%), FMCG index (up 0.03%), Capital Goods index (up 0.05%), Power index (up 0.12%), PSU index (up 0.4%), Auto index (up 0.49%), Consumer Durables index (up 0.58%) and Oil & Gas index (up 0.79%), underperformed the Sensex.

BSE clocked turnover of Rs 3575 crore, higher than Rs 3490.89 crore on Monday, 20 December 2010.

Market Breadth:

Positive 1806 Negative 1111 Unchanged 100
From the 30 share Sensex pack, 20 rose and rest fell.

2010 marks the year of approving, closing and distributing M&A; agreements

2010 has marked the peak rate of agreements ever in India with the exclusion of 2007. The firm made 623 agreements that costs USD 61 billion this year against the 330 agreements which costs USD 24 million the previous year.

Competitors expected to pass last offers for Patni today

Forthcoming bidders for India’s Patni Computer Systems may pass their fiscal proposals today. It was notified that the panel would favor a firm with IT background. A conglomerate that consists of Carlyle and Advent and a rival grouping of IT services company iGate amd Apax Partners are in the pursuit for the 63 percent venture.

Administration may prohibit various 3G services because of security threats

India will impede telecom companies from bidding non-voice third generation (3G) mobile services in seven days except they present these infrastructures can be tapped live. The services could be affected consist of high-speed internet, downloads of music and video clips and internet telephony calls.

India No. 1 destination for foreign services, according to Gartner Inc

Gartner Incorporated has named top 30 countries for worldwide resource activities in 2010 - 11 and discovered that eight fresh countries have made their first appearance in the Top 30.

Moody’s might slash Portugal on progress because of debt issues

Moody’s investor Service told on Tuesday that it might relegate Portugal’s A1 rating by one or two marks following am evaluation as it quoted concerns regarding the country’s frail progress prospects and high lending rates.

EPC progress put in 50 percent to profits, says Lanco

Lanco Infra Tech EPC Division has been granted the Prestigious EPC Contract by Moser Baer Group. Chief Executive Officer SC Manocha of the EPC Division & Wholetime Director of Lanco Infra Tech told that over half of Lanco’s profit is from EPC progress.

To increase Rs 150 - 200 crore the following fiscal year, says Shrenuj & Company

Shrenuj & Company is one of the various mid cap stocks that rallied in the market at the moment. Goup Executive Director Vishal Doshi of Shrenuj & Company told that the firm is ready to obtain more stocks.

JSW Steel was preeminently in shape to get hold of Ispat, says Sajjan Jindal

JSW steel is ready to get hold of the dominating venture in Ispat Industries. The agreement has an enterprise rate of more or less USD 3 billion and will create JSW, India’s biggest steel manufacturer with a joined aptitude of 14.3 mtpa by March 2011.

No additional regulatory amendments, according to IRDA

The Insurance Regulatory and Development Authority of India (IRDA) told that it would not create additional regulatory amendments. The firm must even out the post of the fresh ULIPS policy. The insurance regulator also told that a bulk of fresh merchandises filed were conventional.

China ore imports from India go on with turn down in November

China’s iron ore imports from India, the globe’s third-biggest exporter of the foremost steelmaking ingredient, placed a year-on-year drop in November for three consecutive months, the custom administrator’s records presented on Tuesday.

Kalindee Rail Nirman aims Rs 250 crore returns this year

Director Arvind Gemini of Kalindee Rail Nirman told that their company has offered definite proposals in the past and the outcomes are yet to arrive. There are a lot of extra proffers which are unpaid at the end of this month and the following month, Gemini added.

Jayant Agro looks forward to returns to reach Rs 1,100 crore in FY11

Vikram Udeshi of Jayant Agro Organics told that last year the firm had finished topline development of Rs 900 crore on a merged basis and this year the company looks forward to close to Rs 1,100 crore of topline.

Petronet LNG anticipates topline to cross USD 3 billion mark this year

Finance Director Amitabh Sengupta of Petronet LNG told that she believes that there is a certainly a stipulation rush forward for imported gas. The moment the pipeline aptitudes and downstream facilities start innovating, the stipulation will increase further.

Export prohibition gives Indian Onion price behind piercingly

Onion price in India descended further with 30 percent down following the administration prohibited exports to leash in the price of the vegetable, a staple for Indians and for a while a set off for constituent remonstrations over price increase.

Bajaj Hindustan in agreement with Uttar Pradesh Administration for 1980 megawatt power project

Najaj Hindustan Limited has notified BSE that Bajaj Hindustan Limited (BHL) via a conglomerate has approved a Memorandum of Understanding (MOU) with the Uttar Pradesh Administration for creating a mega power project of 1980 megawatt (3 x 660MW) at Bargarh in Uttar Pradesh.

VRL Logistics files IPO documents with SEBI

VRL Logistics which is based in Hubli, is toward the inside of the capital markets, has filed its Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India (SEBI) on December 13.

Deutsche, Lakshmi Vilas Bank sell 13.9 lakh ownership of Claris

It was an unsatisfactory day for Claris Lifesciences which ended at Rs 205.85, down 9.71 percent from issue price of Rs 228. with volume of 1.5 crore shares on initial day. The stock has seen 11 bulk agreements on Monday; where in Deutsche Securities Mauritius Limited sold 7, 68, 796 equity shares of firm at Rs 226.19 per share and the Lakhsmi Vilas Bank divested 6,20,416 shares at Rs 226.02.

Sabari Inn aims Rs 170 crore IPO

South based Sabari Inn, a component of Sabari Group, has filed draft red herring prospectus (DRHP) with market watchdog SEBI for its Rs 170 crore initial public offering (IPO). Equity shares costing Rs 1 crore will be provided in the issue for investment by qualified employees.

BSE Sensex climbs 0.12% as auto, IT lead market rally

The BSE 30-share Sensex was up 24.03 points or 0.12% to 19,888.88. The Sensex rose 141.31 points at the day's high of 20,006.16 in mid-afternoon trade, its highest since 7 December 2010. The index lost 153.73 points at the day's low of 19,711.12 in early trade.

The S&P CNX Nifty was down 1.70 or 0.03% to 5,947.05. The Nifty hit high of 5,985 in mid-afternoon trade, its highest since 7 December 2010.

The BSE Mid-Cap index underperformed the Sensex, falling 0.13%. The BSE Small-Cap index outperformed the Sensex, rising 0.4%.

Sectoral indices on BSE were mixed. The BSE Auto index (up 2.3%), IT index (up 1.73%) and Teck index (up 0.85%), outperformed the Sensex.

Banking sector index Bankex (down 1.39%), Realty index (down 1.37%), Healthcare index (down 0.85%), PSU index (down 0.8%), Power index (down 0.71%), Consumer Durables index (down 0,53%), Oil & Gas index (down 0.27%), Capital Goods index (down 0.13%), FMCG index (up 0.04%), Metal index (up 0.11%) underperformed the Sensex.

BSE clocked turnover of Rs 3136 crore, lower than Rs 4093.41 crore on Friday, 16 December 2010.

Market Breadth:

Positive 1531 Negative 1369 Unchanged 90
From the 30 share Sensex pack, 18 fell and rest rose.

JSW Steel in further discussion for Ispat venture

JSW Steel Limited, India’s third biggest steel manufacturer is in further discussion to purchase out the controlling venture of Ispat Industries’ founders, two sources directly engaged with the issue told on Monday.

Assam Co to demerge

Assam Co, Managing Director Aditya Kumar Jajodia told that there were two well which were manufacturing. One of the wells, the well number 11, is manufacturing more or less 800 - 900 POE per day but it has been halted since they are focusing at the pressure and renovating the well.

Unity infra’s recent purchase account at Rs 3835 crore

Yogen Lal of Unity inraprojects told that in FY11 they anticipate more or less 20 percent of those fresh purchases to be accounted since a couple of them are rather small projects, especially the Kumar SEZ, which is only 10 months and 15 days of operation.

Archies predicts holiday season heavy demand ahead of the end of 2010

Pramod Arora, Joint Managing Director of Arhies told that the holiday season and celebrations are where the firm’s foundation is tough except over the years there are a little changes with the business. Today, quarter on quarter, the disparity isn’t what it used to be two years ago.

Demystifying the myths of Unified Communication

As voice, video and data networks unite into a sole user experience; more associations are witnessing the significance in installing IP-based unified communication solution. These solutions incorporate telephony, unified messaging, voicemail, customer contact solutions, audio and video capabilities, rich media conferencing, and existence and mobility solutions with the business systems.

Joint Venture cancelation, how does it affect investors?

Rahul Bajaj, CEO of Bajaj Auto spoke on the non-admissions of the Hero Honda agreement highlighting the significance of looking after the investor’s interest. He told yesterday that the firm’s panel came out with whole information but he can’t tell that in behalf of the firm because they’re both a friend and a foe.

Labout conflicts upset production of HMSI at Gurgaon plant

Production at Honda Motorcycle & Scooter India (HMSI) Gurgaon plant has been interrupted by a fraction of workers. The was a labor turbulence subsequent to an contended clash with security officer.

More QE incentives in 2011 unnecessary, Raghuwam Rajan says

State of the World 2011 is the program which obtained major economists who have been correct about the 2007 crisis and who, at the moment, see at the foremost trends that they predict in 2011. Dr. Nouriel Roubjini, Chairman of Roubjini Global Economics is definitely the only one named as the bluff and the fluff of the US markets.

Indian economy to increase at 9 percent for the following decade, Rangarajan says

Chairman of the Economic Advisory Council to the Prime Minister, C Rangarajan said he anticipates price increase to lessen at 6.5 percent by the end of December and even approach 5.5 percent - 6 percent by the end of March.

Essar Group, China Development Bank Corporation approves MOU

Essar group today proclaimed that it has just approved a Memorandum of understanding with the China Development Bank Corporation. The MOU presents for funding precedence to the project bids instigated by Essar.

Last offers for Patni venture this week

Private equity funds will propose last offers early this week to purchase a venture in India’s Patni Computer Systems. An association that comprises Carlyle and Advent and an adversary grouping of IT services company iGate Corporation and Papax Partners are in the pursuit for the 63 percent venture, possessed by private equity company General Atlantic and Patni’s founders.

Tata Chemicals purchases United Kingdom’s British Salt for Rs 673 crore

Toting up to its thread of cross-border possession, Tata Group firm Tata Chemicals Limited has purchased 100 percent venture British Salt Limited, a united Kingdom-based chemical firm that manufactures pure white salt, for £ 93 million or Rs 673 crore.

Elecon Engineering collects purchase worth Rs 43.25 crore

Elecon Engineering Company Limited has notified BSE that the firm has been granted prestigious orders of Rs 43.25 crores from ENERGO ENGINEERING PROJECTS LIMITED, for blueprint, engineering, manufacturing, supplying, erectoring, testing, commissioning of Material Handling Equipments and other tools.

Sistema India arm to retort to administration letter on time

Sistema Shyam Teleservices, the Indian firm of Russia’s sistema, will respond to the administration letter on network level commitment inside the specified time, a top official told on Monday. Sistema Shyam CEO Vsevolod Rozanov added told that the Russia’s venture of more or less $ 600 million in the firm is anticipated to close in January to March 2011.

Manmohan Singh expects end-March price increase at 5.5 percent

India’s yearly banner price increase is anticipated to alleviate to 5.5 percent by end-March 2011, Prime Minister Manhoman Singh told on Monday. Yearly banner inflation in November alleviated to a 12 month low of 7.48 percent.

Uniphos Enterprises BOD conference on December 23, 2010

Uniphos Enterprises Limited has notified BSE that a Conference of the Board of Directors of the Firm will happen on December 23, 2010, inter alia, to deem fund raising plan for the firm, together with the issuance of equity shares on right basis, to its subsisting equity investors.

No visible sign of price increase in oral, hair or teeth care, Dabur says

Sunil Duggal, Chief executive of Dabur India told that he is looking forward for sales to be under control and a hastened fourth quarter and a price increase only if raw material costs climb. Moreover, he is looking forward that there’s going to be a gross margin density by 200 to 300 basis points and there that part is beyond their control.

FDA issues to be determined quickly, Claris life assures

Claris lifesciences rolled in the bourses today. The stock launched down 10.55 percent. Claris Life’s Manager Director and Chief Executive Arjun Handa told that he was positive of determining FDA issues that were swamping the firm; moreover, he saw no rigid problems coming up.

MOIL closed with 24 percent premium at Rs 464.20

MOIL (formerly known as manganese Ore India) closed with 24 percent premium to its issue price on NSE. It marked at Rs 464.20 up 23.79 percent from its issue value of Rs 375 per share, once seeing an intraday climb of Rs 590 and low of Rs 546 on the National Stock Exchange.

Punjab & Sind Bank IPO invested 47.2 times

A government - run Punjab & Sind Bank has closed today. The issue has invested 47.20 times hitherto, as per National Stock Exchange. Kept back component of QIB invested 49.80 times. Non-institutional and retail financier’s fraction invested 22.91 times and 8.38 times, in that order.

Mayur Uniquoters foresee EPS at about Rs 48 - 49 in FY 12

Chief Managing Director and Chief Executive Officer Suresh Kumar Poddar of Mayur Uniquoters told that this year with Chrysler and Ford Motors in the United States together are foresees an estimated Rs 35 - 40 crore of proceeds from exports and Mercedez Benz and BMW is on the market soon.

Indian Nippon Electricals BOD conference on December 29, 2010

India Nippon Electricals Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on December 29, 2010, inter alia, to deem an Interim Dividend for the year April 2010 - March 2011.

ONGCC panel approved stock division in advance of share sale

The government owned explorer Oil and Natural Gas Corporation told on Thursday that its panel has approved bonus share issue and stock division in advance of a schemed share offering in March.

Supreme Court suspends Karnataka iron ore prohibition appeal

The Supreme Court cancelled an appeal by miner MSPL versus a prohibition entailed on iron ore exports by Karnataka until the second week of January, according to a court order on Thursday. The court had cancelled the hearing as the legal representative of Karnataka told that he sought more time to retort to a notification issued the previous month by the court requesting why the appeal by MSPL must not be approved.

Firms are required to pass shareholding pattern prior to listing, SEBI advises

The Securities and Exchange Board of India (SEBI) on Thursday told that it has created specific changes in the equity listing contracts of firms concerning admissions. The market watchdog told that firms going open must declare their amended shareholding pattern at least a day before the listing day.

Court requests ministry to deem Lavasa partial construction

A court on Thursday requested the federal environment ministry to deem permitting Hindustan Construction’s Lavasa unit to carry on construction activity in some measure. The ministry has requested Lavasa to attest it had not disobeyed any green laws in constructing a town outside the western city of Pune.

Hero Honda on its own expects challenges in the future

Hero Honda’s venerable joint venture is finally over with the Munjal-family managed Hero Group purchasing Japan’s Honda Motors 26 percent venture in the enterprise. RC Bhargaya of Maruti Suzuki told that he believes both firms have benefited and mislaid with the joint venture cancellation.

HDFC foresees 22 percent loan development in FY11

Housing Development Finance Corporation, India’s foremost mortgage lender, foresees lown progress at 22 percent for the financial year ending March 2011, according to Managing Director Renu Sud Kamad. HDFC doesn’t expects lending rates to increase in a just a short period of time, she added.

TCS aims to raise $ 100 million in proceeds from monetary inclusion platform

Tata Consultancy Services (TCS) will put into practice monetary inclusion solution for Indian Bank to swathe out of reach regions and to achieve more than 35 lakh customers for more than three years to follow.

Tata Tele pulls out 3G video calls service

Tata Tele has its pulled out 3G video calling services. Previously, Telecom Department (DoT) had solicited 3g telecommunication firms to halt giving the facility as the safekeeping infrastructure required for video calls was out of place.

Bankers awaits perfect timing, Axis Bank says

Shikha Sharma of Axis Bank told that the bankers are waiting for a perfect opportunity to measure administration compensation before proceeding on lending and deposit rates. Except when the bank sees that liquidity is still stiffed, the entire precautions don’t really affect the liquidity situation, Sharma added.

RBI has clouted the right balance, trade policy authority says

With the RBI declaring the credit policy today, Eswar Prasad, specialist in trade policy, evaluates the action by the central bank and contributes to his anticipations. Prasad told that the Reserve bank of India has been attempting to control this very hard imbalance amid perpetuation of price increase while assuring that its development is not affecting the progress.

BSE Sensex soars 1.1% on upbeat market

The BSE 30-share Sensex was up 217.08 points or 1.1% to 19,864.85. The Sensex rose 249.45 points at the day's high of 19,897.22 in late trade. The index lost 93.42 points at the day's low of 19,554.35 in afternoon trade.

The S&P CNX Nifty was up 56.45 points or 0.96% to 5,948.75.

The BSE Mid-Cap index rose 0.33% and the BSE Small-Cap index rose 0.49%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 4081 crore, lower than Rs 5085.87 crore on Wednesday, 15 December 2010.

Market Breadth:

Positive 1566 Negative 1359 Unchanged 88
From the 30 share Sensex pack, 21 rose and rest fell.

R.P.P. Infra Projects obtains purchase with a price of Rs 100 crore

In the latest statement released by R.P.P. Infra Projects Limited, the firm revealed that it has notified BSE concerning a Press Release dated December 15, 2010 with the title “R.P.P. Infra Projects Limited bags new orders worth Rs 100 crores.”

Kanani Industries obtains purchase costing Rs 21.61 crore

Kanani Industries obtains purchase costing Rs 21.61 croreSE that Kanani Industries Limited (KIL), has created a chief step forward in the international jewelry sector by obtaining a $ 4.8 million (more or less Rs 21.61 crore) from the Hong Kong based firm, to be paid in full in 6 months.

Mirza International aims Rs 480 - 500 peak this year

Managing Director Rashid Mirza of Mirza International told that the firm’s previous year top-line was Rs 360 crore. This year the company is anticipating a top-line of about RS 480 and 500 crore and in 2011, an additional Rs-60 crore.

VIP industries’ fresh product launch aims soft luggage segment

Chairman Dilip Piramal of VIP industries told that they usually manufacture briefcase segment and the firm is very strong at that point although in the last decade the demand has changed from hard luggage to soft luggage. He also added that they were distinguished to be a little bit frail in this segment for this reason.

Ugar Sugar check prices alleviating at Rs 26 per kilogram

MD Prafulla V Shirgaokar of Ugar Sugar told that the trade today is very fine although the administration is increasing bulk amounts at a time. Administration aims to uphold the cost if not the price would be lessened and the sugarcane growers are apprehended, he added.

Citigroup slashes SKS Microfinance to trade from hold

Citigroup relegate India’s SKS Microfinance to trade from hold on Thursday and slashes its revenues estimate to issue in decreased lending values, elevated funding prices and inferior development, a study account reports.

Honda aims fresh $ 110 million two-wheeler facility in India

In the latest development, according to a firm executive of Honda Motorcycle and Scooter India (HMSI), the firm is going to provide Rs 500 crore ($ 110 million) to create fresh facility in the Indian state of Rajashtan.

Price increase still a threat

India’s banner price increase is not inside the safe side yet, Montek Singh Ahluwalia, Deputy Chairman of India’s Planning Commission told on Thursday. Annual banner price increase pacified to 7.48 percent in November, but is still higher than the Reserve Bank of India’s end-March anticipation of 5.5 percent.

Exports will aid sugar prices stronger, Balrampur Chini says

With sugar manufacturing anticipated to go beyond its yearly demand, India, the globe’s leading sugar consumer has at last approved to unlock its doors after a two-year interval. The administration had halted sugar trades because of supply deficiency of the product in the nation.

Mining Bill affects Coal India

Mining Bill is now for real, 26 percent revenue sharing is possible. Chairman Partha S Bhattacharya of Coal India told that they are actually evaluating at the aspects of the plan since it is still blurry for them.

Food cost index climbs 9.46 percent on December 4

Food cost index increased 9.46 percent, as the fuel cost index mounted 10.67 percent in the year to December 4, according to administration’s account on Thursday. In the previous week, yearly food and fuel price increase remains at 8.69 and 9.99, respectively.

Hero, Honda dispute: How does it affect auto industry?

The Hero Honda venture sale has obtained the green signal. Hero will receive 26 percent venture from Honda for an approximated $ 1-12 billion. Therefore, Hero Honda is likely to compensate a royalty of Rs 2,300 - 2,400 crore for more than 3 - 4 years to Honda.

Camlin Fine Chemical aims Rs 140-150 crore peak this year

Executive Director Ashish Dandekar of Camlin Fine Chemical told that the firm is aiming Rs 140-150 crore this year. Mr. Dandekar told that this is a 100 percent subsidiary of a huge billion dollar firm known as Borregaard.

RBI guidelines is a rejoinder to liquidity crisis, Ashok Chawla says

The Reserve Bank of India’s guidelines verdict are the rejoinder to the liquidity arrears in the system, according to Ashok Chawla on Thursday. Mr. Chawla also told that the dilemma on liquidity in the markets is not permanent.

BSE Sensex drops 0.76% as majority of the sectors dip

The BSE 30-share Sensex was down 151.42 points or 0.76% to 19,647.77. The Sensex rose 18.42 points at the day's high of 19,817.61 in early afternoon trade. The index lost 227.76 points at the day's low of 19,571.43 in late trade.

The S&P CNX Nifty was down 51.80 points or 0.87% to 5,892.30.

The BSE Mid-Cap index fell 1.41% and the BSE Small-Cap index fell 1.54%. Both the indices underperformed the Sensex.

Most sectoral indices on BSE declined. The BSE Realty index (down 3.53%), banking sector index Bankex (down 3.18%), Consumer Durables index (down 2.38%), Healthcare index (down 1.44%), PSU index (down 1.21%), Metal index (down 1.11%), and Auto index (down 0.88%), underperformed the Sensex. The BSE FMCG index (down 0.75%), Power index (down 0.53%), Capital Goods index (down 0.47%), Oil & Gas index (down 0.09%), and IT index (up 1.53), outperformed the Sensex.

BSE clocked turnover of Rs 3447 crore, higher than Rs 3325.64 crore on Tuesday, 14 December 2010.

Market Breadth:

Positive 963 Negative 1971 Unchanged 77
From the 30 share Sensex pack, 22 fell and rest rose.

Financial situations too stiff for RBI rate increase

Executive Director Malla Reddy of Farmax India told that the current verdict to adjourn its bonus issue was taken since the shareholder din not agree. He added that majority of their financiers were against to grant bonus at this point in time.

TRAI approvals on broadband to promote business

Director Chetan Choudhari of Aksh Optifibre told that the TRAI approval will give a lot of business to optical fiber industry. Aksh being one of the foremost firm in optical fiber, there will be an assurance of a good business because of this approval.

Lanco Infratech did not obtain loan for getting Griffin Coal

Lanco Infratech though its stand down Australian subsidiary, Lanco Resources Australia has obtained Griffin Coal Mining Company and Carpenter Mine Management. The mining residence holds more than 1.1 billion tons of JORC biddable thermal coal resources.

ADAG to obtain USD 3 billion loan from China banks

Anil Dhirubhai Ambani Group (ADAG) will raise more or less USD 3 billion in loans from Chinese banks as component of agreements that will be approved in Chinese Premier Wen Jiabao’s visit to India from Wednesday.

Lanco Infratech unit to purchase Griffin Coal Mining

India’s Lanco Infratech told on Wednesday its Australian unit has approved to obtain Griffin Coal Mining Corporation and Carpenter Mine Management (Griffin Coal) for an unnamed price. West Australia based Griffin Coal possesses thermal coal mines with a manufacture of over 4 million tons per annum and can be raise up to over 15 million tons in the near term.

ONGCC proposes Nile Blend crude for export

India’s Oil & Natural Corporation (ONGCC) has proposed 600,000 barrels of February Nile Blend Crude subsequent to being out for five months, arriving at time when company diesel margins have sustained crude oil prices, businessmen told on Wednesday.

Oil India BOD conference in December 22, 2010

Oil India Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on December 22, 2010, inter alia, to consider the announcement of Interim Dividend for the year 2010-11.

VA Tech Wabag obtains purchase wirth Rs 170 crore

VA Tech Wabag Limited has notified that the firm, in joint venture with Nagarjuba Construction Company Internationla LLCm, obtained a purchase worth more or less Rs. 170 crores from Oman based Firm - Majis Industrial Services S.A.O.C.

Suzlon Energy - Repower approves agreement for 51 MW US wind farm project

Suzlon energy Limited has notified BSE regarding a Press Release which will happen on December 15, 2010 with the tittle “Repower signs contract for 51 MW us wind farm project”.

Eveready India notices EBIDTA margins at 13-14 percent this year

Deepak Khaitan, Executive Vice Chairman of Eveready India told that the costs of batteries have climbed up to 9 percent. That denotes the net increase to the firm at about 4-5 percent. This is to meet up with the augment in the raw material costs which have taken place in the last 2-3 months.

Toyota obtains 12,000 pre sale Etios purchases in India

Toyota Motor Corporation told on Wednesday that it has obtained 12,000 purchases for its Etios sedan in India since it started purchasing on December 1, laying it fine on track to convene the car’s yearly sales target of 70,000 units.

Administration denies the whole diesel under-recovery weigh down

The administration has once more insinuated that it will increase the cost of diesel soon but promise that the coverage of the price increase will not be sharp. Oil Secretary Sundersan told that the whole weigh down of under-recovery on diesel will not get ahead of the customers.

Hero Group to come apart with Honda

The 25 years long-term affiliation between Hero and Honda has come to an end. The panel of Hero Corporation has commended the joint-venture cancellation. The hardest test that the Hero Group will face is distinctiveness, what kind of distinctiveness are they going to project in the categories that they sell the products in, according to a prominent news editor.

Bajaj Auto checks on Honda’s future schemes

Bajaj Auto, the foremost entrant of Hero Honda, is recently being acknowledged as the largest recipient of the Hero Honda’s divide. Rajiv Bajaj, MD of the firm told that he does not notice any amendment in the short term.

Administration clears L&T; Finance’s FDI bid

The administration approved L&T Finance’s bid to give in Rs 641 crore of FDI. This will cover the path for the L&T Finance IPO. YM Deosthalee, CFO of L&T told that the firm will open the taking into account the trade situations.

Allocated Rs 768 crore for boosting aptitude: MOIL

MOIL (once Manganese Ore India) has created a glinting presentation on the bourses today at payment of Rs 190. It subscribed at Rs 565 weighed against to the issue price of Rs 375.

BSE Sensex climbs 0.55% as every sector in upturn but auto

The BSE 30-share Sensex was up 107.41 points or 0.55% to 19,799.19. The Sensex rose 145.04 points at the day's high of 19,836.82 in late trade. The index lost 70.37 points at the day's low of 19,621.41 in morning trade.

The S&P CNX Nifty was up 36.45 points or 0.62% to 5,944.10.

The BSE Mid-Cap index rose 1.52% and the BSE Small-Cap index gained 1.62%. Both the indices outperformed the Sensex.

Except BSE Auto index, all the other sectoral indices on BSE rose. The BSE Consumer Durables index (up 3.14%), Metal index (up 1.6%), PSU index (up 0.97%), Realty index (up 0.95%), Capital Goods index (up 0.93%), Oil & Gas index (up 0.92%), Healthcare index (up 0.77%) and Teck index (up 0.64%), outperformed the Sensex.

The BSE Auto index (down 0.2%), FMCG index (up 0.31%), Banking sector index Bankex (up 0.37%), Power index (up 0.42%) and IT index (up 0.42%), underperformed the Sensex.

The BSE clocked turnover of Rs 3311 crore, lower than Rs 3354.42 crore on Monday, 13 December 2010.

Market Breadth:

Positive 1973 Negative 940 Unchanged 80
From the 30 share Sensex pack, 19 rose and rest fell.

Petrol rates may climb up by Rs 2 -2.5 per liter this week

Indian government’s oil marketing companies may increase petrol rates by Rs 2.0 - Rs 2.50 per liter this week, an administration source told on Tuesday. The source told that IOC is directing other oil firms for the price increase and it might happen this week.

Marico anticipates Q3 margins beleaguered as input rates increase

Consumer product manufacturer Marico anticipates difficulties from increasing input values affecting the company’s margin in the third quarter of the recent monetary, according to a prominent administrator. The augmentation in raw material costs differs in different criteria, according to Harsh Mariwala, Chairman and Managing director of Marico.

AP microfinance Bill: What does MFIN looks forward to?

The Andhra Pradesh administration will now deem legislation to take control of the microfinance sector by endorsing an earlier decree that has hold back transactions of the lenders to the underprivileged people.

Goldman increases BHEL to neutral from sell

Goldman Sachs has increased India’s Bharat Heavy Electricals to neutral from sell, telling a current deficit has created the stock reasonably priced. The US investment bank told in an account on Tuesday that they trust the stock is at a moment adequately pricing in the perils to revenues for the following six quarters.

Hero Honda shares drop on royalty apprehensions

Shares in Hero Honda Motors, India’s biggest motorcycle manufacturer, drop over 3 percent on Tuesday on apprehensions concerning royalty compensations to the company’s Japanese associates may increase roughly. The founder of Hero Group, the Munjal family, is arranging to purchase Honda Motor’s 26 percent venture for more or less USD 1 billion or half the recent market value.

Price increase alleviates, RBI seen upholding rates in abeyance

Price increase alleviated aligned with anticipations to its lowest height in a year for November, bringing the Reserve Bank of India (RBI) opportunity to put down interest rates in abeyance at its guidelines evaluation previously this week.

Actis to invest USD 800 million in India in FY11

The pharmaceutical space has witnessed Paras Pharmaceutical being shattered up by Reckitt Benckiser. One more firm which profited well from this transaction is Actis Private Equity which obtained 63 percent venture in the pharma industry, bagging Rs 2,000 crore.

TCS gets GTB contract from Deutsche Bank

It major TCS gets a global transaction banking (GTB) contract from Deutsche Bank. The firm told that the contract will make over transaction banking policy in 30 countries. Deutsche Bank is going to put into operation TCS BaNCS across 30 countries. TCS BaNCS is core banking solution provided by TCS.

WPI price increase to relieve in November

As whole price index (WPI) for November has relieved to 7.48 percent, economists are optimistic that it will decelerate for the following year. But apprehensions on increasing commodity and crude cost still linger.

Sukhit Starch & Chemicaks BOD conference on December 17, 2010

Sukhit Starch & Chemicals Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on December 17, 2010, inter-alia, to consider the following; the statement of interim dividend, and the Closure of share transfer books for compensation of interim dividend, if any, asserted in the said conference.

Sedi contest must be on sovereignty, responsibility: Law experts says

The current argument between the Reserve Bank of India and the ministry of finance on the subject of sovereignty has affected capital market watchdog Sebi call for sufficient stipulations to guarantee that regulatory bodies are independent and do not plummet beneath the purview of the finance ministry.

Sterlite search for transparency from Environment Ministry on Lanjigarh

Sterlite has searched for transparency from the Environment of Ministry on treatment scheme for Lanjigarh. Previously, Supreme Court had ordered Sterlite to deposit Rs 10 crore every year. Sterlite has by now deposited Rs 20 crore for Lanjigarh Development Foundation.

NMDC, Severstal to approve JV deal in 3 - 4 months

The country’s biggest mining firm, NMDC has currently left into a JV with Russian steel and mining foremost Servestral. Rana Som of NMDC told that it is the primary FDI in steel sector by any foreign firm in India. He anticipates the JV deal to be approved in the next 3 to 4 months.

Bajaj Auto to increase motorcycle costs, quotes a more expensive rate

Bajaj Auto, India’s second biggest motorcycle manufacturer, is going to mount up price value across its array of motorcycles by almost Rs 1,000 beginning in January 2011, the firm told on Tuesday.

Federal Bank to regulate 3.8 - 4 percent NIMs this year

Keeping up net interest margin of over 4 percent in the second half of this year appears to be tremendously hard since the fund cost has disappeared to a large extent, according to PC John, executive director of Federal Bank.

India chooses 37 firms to create solar power plants

India has chosen 37 firms to create solar power projects, as the nation progresses with a grand scheme that search for a more efficient level of manufacturing from almost zero to 20 gigawatts by 2022.

MOIL possibly will list at Rs 550, SP Tulsian says

MOIL, the biggest manganese ore manufacturer in India (once Manganese Ore India) is going to be listed on December 15, 2010. The 3.36 crore equity shares’ initial public offering (IPO) obtained remarkable retort from the entire financiers’ criteria and was subscribed 56.43 times.

BSE Sensex advances 0.94% as each sector on green but FMCG

The BSE 30-share Sensex was up 182.89 points or 0.94% to 19,691.78. The Sensex rose 201.68 points at the day's high of 19,710.57 in late trade. The index lost 187.48 points at the day's low of 19,321.41 in morning trade.

The S&P CNX Nifty was up 50.30 points or 0.86% to 5,907.65.

The BSE Mid-Cap index rose 1.77% and the BSE Small-Cap index rose 2.05%. Both these indices outperformed the Sensex.

Except BSE FMCG index, all the other sectoral indices on BSE rose. Realty index (up 2.79%),
Metal index (up 2.1%), Power index (up 2.09%), Capital Goods index (up 1.68%), PSU index (up 1.59%), Oil & Gas index (up 1.29%), Healthcare index (up 1.28%), and Consumer Durables index (up 1.19%) outperformed the Sensex.

FMCG index (down 0.13%), IT index (up 0.17%), Teck index (up 0.22%), Auto index (up 0.6%), Banking sector index Bankex (up 0.68%) and underperformed the Sensex.

BSE clocked turnover of Rs 3338 crore, lower than Rs 4333.95 crore on Friday, 10 December 2010.

Market Breadth:

Positive 2058 Negative 886 Unchanged 75
From the 30 share Sensex pack, 25 rose and rest fell.

Export sales to increase by 25 percent in three years, Steel Strips Wheels says

Steel Strips Wheels prearranged 5.88 percent of the firm’s equity to Sumitomo Metals at a value of Rs 520. The firm has also sold 2.5 percent venture to Korean company GS Global.

South Korea’s GS Global to invest USD 5 million in Steel Strips

South Korea’s GS Global Corporations arranges to invest USD 5 million in India’s Steel Strips Wheels, less than a month subsequent to the Indian company sold some venture to Japan’s Sumitomo Metal Industries.

Oil India requests Gazprom to aid innovate 2 gas fields

India’s government operated explorer Oil India has requested Russia’s government operated energy giant Gazprom to innovate two gas fields in India, according to the head of Gazprom’s India office in Moscow on Monday.

Reliance Communications to begin 3G services in four cities

Reliance Communications, India’s No. 2 mobile phone operator, told on Monday that it is initiating third generation (3G) mobile services in four cities and would cover the entire 13 zones by the end of March 2011.

ITD Cementation India gets purchase costing Rs 228 crore

ITD Cementation India Limited has notified BSE that the firm in Joint Venture with its advocate, Italian-Thai Development Public Company Limited has been granted Letter of Acceptance from Delhi Metro Rail Corporation for Rs 228 crores agreement.

Arsi Cosmetics & Chemicals come into dealing with Exotic Contractors

According to Arsi Cosmetics & Chemicals Limited, it has notified BSE that the Firm has come into dealing with M/s. Contractor Pvt. Limited for drawing out of coal in the area of Nagaland.

Moser baer seeks to double quarterly turnover in advance

Yogesh Mathur, group CFO of Moser Baer India told about the newest events in his firm. Mr. Mathur told that they have been constantly selling and manufacturing to their power since the final-four quarters or more and then the combined quantity of panels that they have sold successfully means the digit of setting up under their name has passed 100 megawatts (MW).

EGoM to mull over diesel price increase by Rs 1-2 per liter on December 22

In the latest development, according to the statement released by the Empowered Group of Ministers (EGoM) led by Finance Minister Pranab Mukheriee, it is expected to have a caucus on December 22 to settle on diesel price increase.