BSE Sensex plunges 0.37% as market dips on third consecutive day

The BSE 30-share Sensex was down 68.21 points or 0.37% to 18,327.76, its lowest closing level since 3 September 2010. The index lost 0.88 points at the day's high of 18,395.09 in late trade. The index shed 357.49 points at the day's low of 18,038.48 in morning trade, its lowest level since 1 September 2010.

The S&P CNX Nifty was down 6.25 points or 0.11% at 5,505.90, its lowest closing level since 3 September 2010. The Nifty hit low of 5,416.65 in morning trade, its lowest level since 1 September 2010.

The BSE Mid-Cap index fell 0.44% and the BSE Small-Cap index declined 0.8%. Both these indices underperformed the Sensex.

Sectoral indices on BSE were mixed. The BSE Capital Goods index (up 3.26%), Power index (up 1.31%), Consumer Durables index (up 1.22%), Oil & Gas index (up 1.22%), PSU index (up 0.81%), Healthcare index (up 0.74%), banking sector index Bankex (up 0.64%), Auto index (up 0.6%), and Metal index (up 0.25%), outperformed the Sensex. The BSE IT index (down 1.47%), FMCG index (down 2%) and Realty index (down 2.23%), underperformed the Sensex.

BSE clocked turnover of Rs 3546 crore, lower than Rs 3904.41 crore on Friday, 28 January 2011.

Market Breadth:

Positive 1187 Negative 1720 Unchanged 101
From the 30 share Sensex pack, 17 fell and rest rose.

HCL Infosystems obtains purchase costing Rs 250 crore from BSNL

HCL Infosystems Limited has notified BSE that the Firm has been granted a purchase costing Rs. 250 crores from Bharat Sanchar Nigam Limited (BSNL) for installing modern facility for printing and managing BSNL customer bills.

Visesh Infotecnics obtains purchase worth Rs 23.03 million

Visesh Infotecnics Limited has notified the Exchange that the Firm has been granted a contract for UID (Unique Identification Number) Venture in Punjab, from the Administration of Punjab, Department of Food Civil Supplies & Consumer Affairs. The value of the Venture is Rs. 23.03 millions.

Aditya Birla Group to purchase Columbian Chem

Aditya Birla Group told on Monday it has approved an ultimate deal to purchase Columbian Chemicals Corporation, which manufactures carbon black for tires, dyes and as raw material in paints.

Bank of Baroda is likely to deposit increase at 22-24 percent this year

Bank of Baroda posted fine set of figures on Friday. The net profit of the bank was up 28 percent and NII up 43 percent BoB is certain of raising this increase in the following period as well.

Fiscal Year 2010 GDP target amended

The December infrastructure division development has entered at 6.6 percent against 6.2 year-on-year (YoY). The quarter between April to December, witness the infrastructure division develop at 5.3 percent against 4.7 percent. The administration has also amended the fiscal year 2010 GDP digit to 8 percent, a 60 bps amendment leap from 7.4 percent.

Exelon Infrastructure signs stock split from Rs 10 - Rs 5

Nouveau Multimedia Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on February 09, 2011, to mull over the stock split of the equity shares of the Firm.

Nouveau Multimedia to mull over stock split

Nouveau Multimedia Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on February 09, 2011 to mull over the stock split of equity shares of the Firm.

Ircon International to mull over interim dividend

Ircon International Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on February 03, 2011, inter alia (1.) To account record of the unaudited financial outcomes for the period closed in December 31, 2010. (2.) To mull over the interim dividend for the year 2010-11.

Shriram Transport is expected to keep up 7 percent NIMs in the future

Non-banking finance firm Shriram Transport Finance accounted a 27.26 percent increase in net profit at Rs 301.36 percent for the third period which closed at December 31, 2010.

Rs 1000 crore revenue in 3 successive periods, first time for Canara Bank

Canara Bank accounted their third period outcomes for Fiscal Year 2011. The bank showed a net profit at Rs 1,106 crore against Rs 1,052.5 crore. Their NIIs were at Rs 2,119 crore against Rs 1,477.7 crore, 43.8 percent leap.

Tube Investments of India; February 09, 2011 log date for interim dividend

Tube Investments of India has notified the Exchange that the Board of directors of the Firm has arranged February 09, 2011 as the Record Date for determining the constituents’ qualification to receive the interim dividend.

Maan Aluminium is the new name of Man Aluminium

Man Aluminium Limited has notified BSE that the name of the Firm has altered from Man Aluminium Limited to Maan Aluminium Limited when it comes to new certificates of incorporation given by Registrar of Companies, Maharashtra.

Bharat Electronics; February 25, 2011 log date for compensation of interim dividend

Bharat Electronics Limited has notified the Exchange that the Firm has set February 25, 2011 as the deadline for payment of Interim Dividend for 2010-2011 announced by the Board of Directors on January 28, 2011.

KKR, Apax Partners aiming majority venture in WNS

KKR and Apax Partners are aiming majority venture in WNS. It is informed that Warburg Pincus that has 48.6 percent in WNS is arranging to launch the offer for venture sale in March.

Suprajit Engineering announces interim dividend at 20 percent

Suprajit Engineering Limited has notified the Exchange that the Board of Directors of the Firm at its conference which happened on January 31, 2011 have announced an Interim Dividend of 20 percent (Re. 0.20 Per Share of Re. 1/- apiece) for the year 2010-11.

Honeywell Automation to mull over dividend

Honewell Automation India Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on February 09, 2011, inter alia, to take on the audited financial outcomes for the fiscal year closed in December 31, 2010 and settle on the announcement of dividend.

Goodwill Hospital submits DRHP for Rs 62 crore IPO

Goodwill Hospital and Research Centre which is located at Noida has submitted draft herring prospectus (DRHP) with the market watchdog SEBI for its initial public offering (IPO) of Rs 62 crore with a single detachable warrant equity share recommended.

Sanco Industries submits IPO documents with SEBI

Sanco Industries arranges a public issue at 75 lakh equity shares having a face value of Rs 10 apiece. It has submitted draft herring prospectus with the market watchdog SEBI.

BSE Sensex plummets 1.54% as market slumps on second straight day

The BSE 30-share Sensex was down 288.46 points or 1.54% to 18,395.97, its lowest closing level since 3 September 2010. The index lost 448.98 points at the day's low of 18,235.45 in late trade. The index gained 38.69 points at the day's high of 18723.12 at the onset of the trading session.

The S&P CNX Nifty was down 92.15 points or 1.64% at 5,512.15, its lowest level since 3 September 2010. The Nifty hit low of 5,459.55 in late trade, its lowest level since 1 September 2010.

The BSE Mid-Cap index fell 2.66% and the BSE Small-Cap index slumped 3.59%. Both these indices underperformed the Sensex.

All the thirteen sectoral indices on BSE declined. The BSE Realty index (down 4.96%), Consumer Durables index (down 3.91%), Auto index (down 3.56%), Capital Goods index (down 3.06%), Power index (down 2.47%), Metal index (down 2.3%), and Oil & Gas index (down 1.69%), underperformed the Sensex. The BSE Healthcare index (down 1.46%), PSU index (down 1.32%), banking sector index Bankex (down 1.11%), IT index (down 0.96%), and FMCG index (down 0.37%), outperformed the Sensex.

BSE clocked turnover of Rs 3886 crore, higher than Rs 3313.90 crore on Thursday, 27 January 2011.

Market Breadth:

Positive 506 Negative 2386 Unchanged 117
From the 30 share Sensex pack, 22 fell and rest rose.

Administration may instil $ 3.3 billion into SBI through rights issue

The administration may instil Rs 15,000 crore (USD 3.3 billion) into the nation’s biggest lender State Bank of India in the following financial year through a right issue, according to a finance ministry source on Friday.

Suzlon Group approves 1000 MW industry partnership deal with Caparo Energy

Suzlon Energy Limited has notified BSE a Press Release which was dated January 28, 2011 with the title “Suzlon Group approves 1,000 MW business partnership agreement with Caparo Energy India”

VIP Industries announces interim dividend at Rs 3 per share

VIP Industries Limited has notified the Exchange that the board of Directors of the Firm at its conference which happened on January 27, 2011 have announced an Interim Dividend of Rs. 3/- (Rupees Three Only) per equity share of Rs 10/- apiece for the fiscal year 2010-2011.

Gandhi Special Tubes announces interim dividends at 100 percent

Gandhi Special Tubes Limited has notified the Exchange that the Board of Directors of the Firm at this conference which happened on January 27, 2011 have announced interim dividend Rs./- a share (100 percent) of Rs. 5/- per share collecting to Rs 734.93 Lacs for the year closing March 31, 2011.

Financial Technology: February 8, 2011 log date for compensation of third interim dividend

Financial Technologies (India) Limited has notified the Exchange that the firm has set February 8, 2011 as the Record Date for the intention of compensation of 3rd Interim Dividend.

Infosys looks for options in M&As;

Infosys Technologies, India’s No. 2 software exporter, is seeking for the amalgamation and acquirement, but will be selective on prospects, according to its Chief Executive Officer on Friday.

Shiv-Vani oil raising Rs 250 crore advocated by CVCI

Shiv-Vani Oil and Gas Exploration Services Limited which is advocated by Citigroup Venture Capital is collecting Rs 250 crore via issue of secured usable optionally transferable debentures of ICICI Bank.

SpiceJet doesn’t need to collect funds to purchase Bombardier

Budget carrier SpiceJet does not need to collect funds to support its aircraft purchases from Bombardier Incorporated in Canada, according to its Chief Executive Officer on Friday.

Cadila Healthcare, Bayer Unit to create Joint Venture

Cadila Healthcare and Bayer HealthCare, unit of Bayer AG, have decided to create a joint venture to market products locally, which include women’s healthcare, metabolic disorders and oncology, the two companies told in a pronouncement on Friday.

Munjals place venture sale plans to PEs suspended till May

In the latest development, after the 26 years of partnership with the Japanese firm Honda, Hero has settled on placing its venture sale to private equity players suspended till May.

Sun TV Network announces interim dividend at Rs 5 a share

Sun TV Network Limited has notified BSE that the Board of Directors of the firm at its conference which happened on January 28, 2011, inter alia, have proposed an interim dividend of Rs. 5/- per share (100 percent).

Bharat Electronics announces interim dividend at 60 percent

Bharat Electronics Limited has notified BSE that the Board of Directors of the Firm at its conference which happened on January 28, 2011, announced an interim dividend of 60 percent on the compensated capital of the Firm (Rs. 6/- per share) for the year 2010-2011.

Crompton Greaves announces interim dividend at 40 percent

Crompton Greaves Limited has notified BSE that the Board of Directors of the Firm at its conference which happened on January 28, 2011, inter alia, has announced an interim dividend of 40 percent i.e. Rs. 0.80 a share.

Prism Informatics obtains bid for SAP Retail ERP from Cebu Oversea Hardware

In the latest development, according to Prism Informatics Limited, it has already notified BSE that the Firm obtains a deal for SAP Retail ERP, Thailand.

Sundaram Finance announces interim dividend of Rs 7 per share

Sundaram Finance Limited has notified BSE that the Board of Directors of the Firm at its conference which happened on January 28, 2011, inter alia, have announced an interim dividend of Rs. 7/- per share (70 percent on the face value of Rs 10/- per share) for the fiscal year 2010-11.

Adharshila Venture capital fund trades in 2 lakh shares of Midvalleys

Media and entertainment firm Midvalley entertainment’s shares ended at Rs. 58.05, below 17 percent from issue price of Rs 70 per share on Bombay Stock Exchange a day after.

Additional jewellery retail industries aim capital market

All that shines is surely gold in the previous unstable market rates, signaling jewellery retail industry to go into capital market to widen their industries and augment further capital.

SAIL board meeting on the following week for FPO

The panel of the Steel Authority of India (SAIL) will have a conference on the following week to settle on follow-public offering. The FPO is likely to even out on the following month, is at the moment at the attorney general’s office from which the government-owned steel firm has looked for its opinion on the issue of merchant bankers.

BSE Sensex drops 1.5% as market in deep downturn again

The BSE 30-share Sensex was down 285.02 points or 1.5% to 18,684.43, its lowest closing level since 8 September 2010. The index fell 313.40 points at the day's low of 18,656.05 in late trade. The index gained 117.24 points at the day's high of 19,086.69 in early trade.

The S&P CNX Nifty was down 83.10 points or 1.46% at 5,604.30, its lowest closing level since 7 September 2010. The Nifty hit low of 5,594.95 in late trade.

The BSE Mid-Cap index fell 1.88% an underperformed the Sensex. The BSE Small-Cap index declined 1.35% and outperformed the Sensex.

All the thirteen sectoral indices on BSE were in the red. The BSE Realty index (down 3.57%), Healthcare index (down 2.61%), Metal index (down 1.98%), banking sector index Bankex (down 1.85%), Consumer Durables index (down 1.81%), and Oil & Gas index (down 1.61%), underperformed the Sensex. The BSE PSU Index (down 1.47%), Capital Goods index (down 1.42%), Auto index (down 1.3%), Power index (down 1.27%), IT index (down 1.17%) and
FMCG index (down 1.14%), outperformed the Sensex.

BSE clocked turnover of Rs 3055 crore, lower than Rs 3629.03 crore on Tuesday, 25 January 2011.

Market Breadth:

Positive 956 Negative 1905 Unchanged 110
From the 30 share Sensex pack, 28 fell and rest rose.

United Phosporus hopes Fiscal Year 2012 returns reach Rs 5,800 crore

United Phosporus has announced its outcomes for the period lasted December 2010. It has accounted merged net profit of Rs 83.9 crore in 3rd period versus Rs 62.8 crore. The combined net sales increased to Rs 1,190 crore from 1,111.2 crore.

Igarashi Motors allocates 65 lakh shares on preferential basis

According to Igarashi Motors India Limited, it has already notified the Exchange concerning issue and allocation of 65, 00, 000 equity shares on preferential basis.

Kavveri Telecom opens progressive edition of repeaters in North America, India

Kavveri Telecom Products Limited has notified BSE concerning “Launch of advanced version of repeaters in North America, India, Europe and South America.”

Consumer companies aim Africa as next developmental driver

Indian consumer goods manufacturer are rushing to acquire assets in Africa, pertaining their familiarity of risking, lower-income markets to a continent where the figure of consumers are increasing.

HOV Services announces 3rd interim dividend at Rs 2 per share

HOV Services Limited has notified the Exchange that the Board of Directors of the Company at its conference which happened on January 27, 2011 have announced third interim dividend of Rs. 2/- per equity shares of Rs 10/- each of the Firm for Fiscal Year 2010-11 and the dividend compensation date will be February 21, 2011.

Samsung’s development to a leading global brand

Samsung Group, based in Seoul, is South Korea’s biggest chaebol, and reports for 20 percent of the nation’s trades. It is also the globe’s second biggest corporation when it comes to income.

Bajaj electrical hopes for 20-22 percent income hike in Financial Year 2011

Bajaj Electricals has declared its outcomes for the quarter which closed in December 2010. It has accounted net profit of Rs 40.6 crore in the third quarter of Financial Year 2011. Its net sales stood at Rs 689 crore.

Oil India to renounce 2 blocks in Libya

Oil India will renounce two exploration blocks in Libya, according to chairman NM Borah on Thursday, since their operations were not feasible. Borah explained that about three weeks ago the firm applied the Libyan authorities (for renouncing the two blocks).

RIM says access denied to corporate email in India

Blackberry manufacturer Research in Motion (RIM) on Thursday told that there was no probability of giving the administration access to corporate emails on BlackBerry gadgets. The administration stipulated admittance to all BlackBerry services as part of attempts to battle militancy and security threats on the Internet and via telephone communication.

Rane engine Valve; February 4, 2011 log date for compensation of interim dividend

Rene engine Valve Limited has notified the Exchange that the Board of Directors in its conference which happened on January 24, 2011 has set February 04, 2011 as the Record Date for compensation of Interim Dividend.

Supreme Industries; February 07, 2011 log date for compensation of interim dividend

Supreme Industries Limited has notified the Exchange that the Firm has set February 07, 2011 as the Record Date for the intention of establishing the qualification of Shareholders for compensation of Interim Dividend, if and to the amount announced, by the Board of Directors at its conference, planned to happen on January 31, 2011.

Tata Investment Corporation announces interim dividend at 160 percent

Tata Investment Corporation Limited has notified the Exchange that the Board of Directors of the Firm at its conference which happened on January 27, 2011 has determined to disburse an Interim Dividend of Rs 16 per share (160 percent) on 4, 82, 37, 074 Ordinary Shares of Rs. 10/- each for the year 2010 - 2011.

Century Real Estate to collect Rs 700 crore PE subsidies

Century Real Estate Holdings, the reality development wing of a 30-year old Century Group in Bangalore, is aiming to collect Rs 700 crore via private equity players in three tranches.

Goldman Sachs relegates Hero Honda, M&M;

Goldman Sachs has relegated motorcycle manufacturer Hero Honda and utility vehicle manufacturer Mahindra & Mahindra on Thursday to “sell” from “neutral” and “buy” ratings in that order.

Rico Auto is likely to cross Rs 1000 crore sales mark in 2011

Rico Auto accounted combined net profit of Rs 6.67 crore in the 3rd quarter of December 2010 weighed against a net loss of Rs 7.10 crore in the 3rd quarter of December 2010.

Purchases will be subsidized through internal accumulations, WWIL says

WWIL has announced a net loss of Rs 10.3 crore against loss of Rs 20.3 crore (QoQ) in the quarter closed on December 31, 2010. In the quarter, its returns were flat at Rs 74.4 crore against Rs 73.7 crore (QoQ).

RBI tells open market operations isn’t an instrument for debt management

The Reserve Bank of India (RBI) told on Thursday open market operations in the bond market were a financial ruling instrument for the RBI, and not a debt management tool.

Midvalley’s assessments and business representation not adequately appealing

Media and Entertainment firm Midvalley Entertainment has submitted on the Bombay Stock Exchange. The firm’s shares submitted at Rs 73 share versus the issue rate of Rs 70 and strike a high of Rs 76.50 in previous trade.

Pranab tells inflationary pressure will keep on

There are inflationary anxieties in India and the administration will have to start supply-side management to undertake food price increase, Finance Minister Pranab Mukheriee said. He also told that Tuesday’s Reserve Bank of India (RBI) price increase is in line with the administration’s idea and procedure.

KCP; February 11,2011 log date for compensation of third interim dividend

According to KCP Limited, it has already notified BSE that the dividend compensation for third interim dividend for the year 2010-2011 will be February 11, 2011.

Interworld Digital to mull over transformation of certification

Interworld Digital Limited has notified BSE that a conference of the Board of Directors of the Company will happen on January 28, 2011, to mull over the transformation of the certification which was previously allocated on preferential basis.

Mold Tek Technologies obtains purchase worth USD 500,000

Mold Tek Technologies Limited has notified BSE that the Company have obtained a key step forward in Automobile Engineering KPO Services. The Project engages in Automobile interior design. The initial rate of the purchase is USD 500,000 and the anticipated sales are up to USD 2 million in the following fiscal year.

RBI fights price increase, as experts expects further inflations in the future

In line with street, the Reserve Bank of India collected essential interest rates by 25 basis points. The repo rate, at which the RBI lends to banks, has been mounted to 6.5 percent from 6.25 percent and the overturn rate, at which lends from banks, to 5.5 percent from 5.25 percent.

Hyderabad Industries announces interim dividend at Rs 6 per share

Hyderabad Industries Limited has notified the Exchange that the Board of Directors of the Company at its conference which happened on January 25, 2011, announced an interim dividend at Rs. 6/- per share (60 percent on the equity share of the face value of Rs. 10/- each) for the fiscal year 2010-11.

Ipca Laboratories announces 2nd interim dividend at Re 1 per share

Ipca Laboratories Limited has notified BSE that the Board of Directors of the Firm at its conference which happened on January 25, 2010, inter alia, has announced 2nd interim dividend of Re. 1/ per share (50 percent) for the fiscal year 2010-11.

Jamma Auto Industries to mull interim dividend

Jamma Auto Industries Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on February 03, 2011, to mull and take on account the un-audited financial outcomes for the quarter lasted on December 31, 2010 and to mull over and announce interim dividend.

Rail freight inflation might cause stress on iron ore cost

India Railways’ act to increase freight price on iron ore for exports by 50 percent from Thursday, to obtain gain of company global rates, may promote mounting rates that are already floating around record highs.

J Kumar Infra obtains purchase worth Rs 49 crore

J Kumar Infraprojects Limited has notified the Exchange that the Firm has obtained following work orders costing Rs 49.00 Crores: (a) Construction of 61 meter railway Span of Milan ROB Santacruz, Mumbai of Rs 42.00 Crores (b) Supporting work orders from different parties costing Rs 7.00 Crores.

Ahluwalia Contracts (India) obtains purchase worth Rs 580 crore

Ahluwalia Contracts (India) Limited has notified BSE concerning a Press Release dated January 25, 2011 with the title “Recent Award of new Projects worth Rs. 580 (Approx.) Crores.”

Hexaware Technologies to mull over final dividend

Hexaware Technologies Limited has notified BSE that a conference of the Board of Directors of the Firm will happened on February 16, 2011 to mull and commend the Audited Financial Results (Consolidated and Stand Alone) for the fiscal year closing on December 31, 2010 and proposal of final dividend, if any, on Equity Shares of the Company.

Rane Brake Lining announces interim dividend at Rs 3 per share

Rene Brake Lining Limited has notified BSE that the Board of Directors of the Firm at its conference which happened on January 25, 2011, inter alia, announced an interim dividend of Rs 3/- per equity share for the year closing March 31, 2011 on the paid up equity capital of Rs 4, 91, 49, 800 including 79, 14, 980 equity shares of Rs 10/- each.

Comfort Securities submits IPO papers with SEBI

Comfort Securities in Mumbai, a broking company, is setting to tap capital markets for business expansion. The firm has submitted draft red herring prospectus with the market watchdog SEBI for a public issue of 95 lakh equity shares.

SAIL FPO to be finished off in FY11, says Government

The administration is positive that follow-on-offer (FPO) of Steel Authority of India (SAIL) will be finalized this financial year. Divestment Secretary has told that the call on SAIL FPO plan will be occupied in a few days.

Indus Tower IPO is expected on the following year, according to Idea Cellular

Idea Cellular accounted combined net sales up by 8.68 percent at Rs 3.952 crore for quarter lasted December 2010 against Rs 3,636.7 crore for the preceding quarter.

Omkar Specialty IPO invested 0.96 times

Omkar Specialty Chemicals’ initial public offering, which ended January 27, has obtained retort on the first day; has been invested 0.96 times so far, as per data existing on NSE website.

ONGC FPO: RHP to be submitted by February 20

ONGC is going to submit a red herring prospectus (RHP) for its follow-on public offer (FPO) by February 20. A resolution to this outcome was engaged on Monday at a FPO onset conference which held by the Disinvestment Department in the Finance Ministry.

Midvalley Entertainment to submit shares on January 27

Media and entertainment firm Midvalley Entertainment has set January 27 as a submission date for its equity shares, which currently invested through public issue. It has fixed an issue price at the higher end of Rs 64-70 per share.

BSE Sensex dips 0.95% as nearly each sector witness downturn

The BSE 30-share Sensex was down 181.83 points or 0.95% to 18,969.45. The index gained 189.71 points at the day's high of 19,340.99 in mid-morning trade, soon after the RBI's policy announcement. The index declined 201.84 points at the day's low of 18,949.44 in late trade.

The S&P CNX Nifty was down 55.85 points or 0.97% at 5,687.40.

The BSE Mid-Cap index fell 0.41% and the BSE Small-Cap index declined 0.35%. Both these indices outperformed the Sensex.

Most sectoral indices on BSE declined. The banking sector index Bankex (down 2.34%), FMCG index (down 1.67%), Healthcare index (down 1.25%), Realty index (down 1.2%), and Auto index (down 1.05%), underperformed the Sensex. The BSE IT index (down 0.6%), Oil & Gas index (down 0.42%), Metal index (down 0.22%), PSU index (down 0.17%), Power index (up 0.28%), Capital Goods index (up 0.28%), and Consumer Durables index (up 1.73%), outperformed the Sensex.

BSE clocked turnover of Rs 3610 crore, higher than Rs 2906.36 crore on Monday, 24 January 2011.

Market Breadth:

Positive 1212 Negative 1687 Unchanged 110
From the 30 share Sensex pack, 19 fell and rest rose.

Pranab tells inflationary pressure will keep on

There are inflationary anxieties in India and the administration will have to start supply-side management to undertake food price increase, Finance Minister Pranab Mukheriee said. He also told that Tuesday’s Reserve Bank of India (RBI) price increase is in line with the administration’s idea and procedure.

Interworld Digital to mull over transformation of certification

Interworld Digital Limited has notified BSE that a conference of the Board of Directors of the Company will happen on January 28, 2011, to mull over the transformation of the certification which were previously allocated on preferential basis.

Mold Tek Technologies obtains purchase worth USD 500,000

Mold Tek Technologies Limited has notified BSE that the Company have obtained a key step forward in Automobile Engineering KPO Services. The Project engages in Automobile interior design. The initial rate of the purchase is USD 500,000 and the anticipated sales are up to USD 2 million in the following fiscal year.

RBI fights price increase, as experts expects further inflations in the future

In line with street, the Reserve Bank of India collected essential interest rates by 25 basis points. The repo rate, at which the RBI lends to banks, has been mounted to 6.5 percent from 6.25 percent and the overturn rate, at which lends from banks, to 5.5 percent from 5.25 percent.

Hyderabad Industries announces interim dividend at Rs 6 per share

Hyderabad Industries Limited has notified the Exchange that the Board of Directors of the Company at its conference which happened on January 25, 2011, announced an interim dividend at Rs. 6/- per share (60 percent on the equity share of the face value of Rs. 10/- each) for the fiscal year 2010-11.

Ipca Laboratories announces 2nd interim dividend at Re 1 per share

Ipca Laboratories Limited has notified BSE that the Board of Directors of the Firm at its conference which happened on January 25, 2010, inter alia, has announced 2nd interim dividend of Re. 1/ per share (50 percent) for the fiscal year 2010-11.

Jamma Auto Industries to mull interim dividend

Jamma Auto Industries Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on February 03, 2011, to mull and take on account the un-audited financial outcomes for the quarter lasted on December 31, 2010 and to mull over and announce interim dividend.

Rail freight inflation might cause stress on iron ore cost

India Railways’ act to increase freight price on iron ore for exports by 50 percent from Thursday, to obtain gain of company global rates, may promote mounting rates that are already floating around record highs.

J Kumar Infra obtains purchase worth Rs 49 crore

J Kumar Infraprojects Limited has notified the Exchange that the Firm has obtained following work orders costing Rs 49.00 Crores: (a) Construction of 61 meter railway Span of Milan ROB Santacruz, Mumbai of Rs 42.00 Crores (b) Supporting work orders from different parties costing Rs 7.00 Crores.

Ahluwalia Contracts (India) obtains purchase worth Rs 580 crore

Ahluwalia Contracts (India) Limited has notified BSE concerning a Press Release dated January 25, 2011 with the title “Recent Award of new Projects worth Rs. 580 (Approx.) Crores.”

Hexaware Technologies to mull over final dividend

Hexaware Technologies Limited has notified BSE that a conference of the Board of Directors of the Firm will happened on February 16, 2011 to mull and commend the Audited Financial Results (Consolidated and Stand Alone) for the fiscal year closing on December 31, 2010 and proposal of final dividend, if any, on Equity Shares of the Company.

Rane Brake Lining announces interim dividend at Rs 3 per share

Rene Brake Lining Limited has notified BSE that the Board of Directors of the Firm at its conference which happened on January 25, 2011, inter alia, announced an interim dividend of Rs 3/- per equity share for the year closing March 31, 2011 on the paid up equity capital of Rs 4, 91, 49, 800 including 79, 14, 980 equity shares of Rs 10/- each.

Comfort Securities submits IPO papers with SEBI

Comfort Securities in Mumbai, a broking company, is setting to tap capital markets for business expansion. The firm has submitted draft red herring prospectus with the market watchdog SEBI for a public issue of 95 lakh equity shares.

SAIL FPO to be finished off in FY11, says Government

The administration is positive that follow-on-offer (FPO) of Steel Authority of India (SAIL) will be finalized this financial year. Divestment Secretary has told that the call on SAIL FPO plan will be occupied in a few days.

Indus Tower IPO is expected on the following year, according to Idea Cellular

In the recent development, Idea Cellular accounted combined net sales up by 8.68 percent at Rs 3.952 crore for quarter lasted December 2010 against Rs 3,636.7 crore for the preceding quarter.

Omkar Specialty IPO invested 0.96 times

Omkar Specialty Chemicals’ initial public offering, which ended January 27, has obtained retort on the first day; has been invested 0.96 times so far, as per data existing on NSE website.

ONGC FPO: RHP to be submitted by February 20

ONGC is going to submit a red herring prospectus (RHP) for its follow-on public offer (FPO) by February 20. A resolution to this outcome was engaged on Monday at a FPO onset conference which held by the Disinvestment Department in the Finance Ministry.

Midvalley Entertainment to submit shares on January 27

Media and entertainment firm Midvalley Entertainment has set January 27 as a submission date for its equity shares, which currently invested through public issue. It has fixed an issue price at the higher end of Rs 64-70 per share.

BSE Sensex climbs 0.76% as almost every sector in upturn

The BSE 30-share Sensex was up 143.75 points or 0.76% to 19,151.28. The index gained 186.93 points at the day's high of 19,194.46 in early afternoon trade. The index slipped 9.15 points at the day's low of 18,998.38 in early trade.

The S&P CNX Nifty was up 46.75 points or 0.82% at 5,743.25.

The total turnover on BSE amounted to Rs 2894 crore, lower than Rs 3037.54 crore on Friday, 21 January 2011.

The BSE Mid-Cap index rose 0.84%. The BSE Small-Cap index gained 0.79%. Both these indices outperformed the Sensex.

Most of the sectoral indices on BSE were in the green. Banking sector index Bankex (up 2.4%), Consumer Durables index (up 1.93%), PSU index (up 1.2%), Capital Goods index (up 0.97%),
Realty index (up 0.91%) and Auto index (up 0.84%) outperformed the Sensex.

The BSE Oil & Gas index (down 0.21%), Healthcare index (down 0.03%), FMCG index (up 0.12%), IT index (up 0.23%), Metal index (up 0.54%) and Power index (up 0.61%) underperformed the Sensex.


Market Breadth:

Positive 1701 Negative 1174 Unchanged 103
From the 30 share Sensex pack, 17 rose and rest fell.

Gayatri Projects obtains purchase costing Rs 68.09

According to Gavarti Projects Limited, it has already notified BSE that the Firm has obtained a fresh purchase under Civil engineering works for Rs 68.90 crores.

Bharti Airtel sees 3G in entire licensed zones by March

Bharti Airtel to open 3G wireless services all its 13 telecoms zones in India by March and hopes the premium submission to aid alleviate its average revenue per user (ARPU).

Amara Raja Batteries announces special dividend at Ts 2 per share

Amara Raja Batteries Limited has notified BSE that the Board of Directors of the Firm at its conference held on Janaury 24, 2010, inter alia, have announced a one-time Special Dividend of Rs. 2/- per equity share of Rs 2/- each to honor the Silver Jubilee year of the Firm.

Pronouncement on POSCO steel mill in Orissa on January 31, Ramesh says

A concluding verdict on yielding green clearances for South Korean steel manufacturer POSCOS’s steel mill in India’s eastern Orissa state will be made on January 31, according to Environment Minister Jairam Ramesh.

Exports to turn to 50 percent of business moving in advance, Garware Poly says

Sun control films manufacturing Garware Polyesters has accounted its gross income for the initial quarter lasted December 2010. The company has accounted a 77 percent leap in net sales of Rs 265.33 crore from Rs 149.9 crore it did in the identical quarter the previous year.

Rigid tender in India is unsuccessful to restraint in price increase

Price increase in India stays put lifted up regardless of rigid monetary state, telling the Reserve Bank should be more insistent in collecting interest rates as price increase extends further than food and primary articles.

Four Soft aims 25 percent revenue increase by Fiscal Year 2012

Small time firm Four Soft has currently approved a contract with the United Kingdom supported Clover Shipping. The agreement is thought to be costing 150,000 euro.

Orissa allocates 6 iron ore mines to recommence ops

India’s foremost iron ore manufacturing state thought on Monday it has allocated six mines to recommence, three days after they were arranged to power cut in a clear out on illegal mining.

Administration to overlook 11th arranged power capacity toting up goal

The administration might overlook the 11th arranged power capacity toting up goal. It is learnt that the administration is expected to reach just 55,000 MW as weighed against 62,000 MW by 2012.

ICICI hopes loan increase lift up subsequent to record quarterly income

ICICI Bank strike prospect with a record quarterly income on increasing demand for credit in the nation and increasing fee return and predict sturdier loan increase in the next financial year.

Amara Raja Batteries witness restrictions around 14 percent in Fiscal Year 2011

Frecnh food group Danone is searching for acquirements in India and baby food manufacturer Dumex India could be a goal, according to French daily Les Echos on Monday.

RBI advises on uphold price increase threat

The Reserve Bank of India (RBI) thought price increase may keep on lofty for more than expected previously because of an increase in worldwide supplies and local products side pressures that have currently pushed up rates.

Albers Diamonds purchases 7.05 lakh shares of C Mahendra Exports

Diamond jewelry foremost C Mahendra Exports’ shares seen 25 bulk agreements on Thursday. Albers Diamonds Private Limited purchased 7, 05, 305 equity shares at Rs 110.61 per share.

Ministry utters ONGC FPO prior to end of March

The Petroleum Ministry on Friday thought there will be no impediment in the ONGC follow-on public offer, and that it will draw closer out of monetary.

Tata Steel allocates FPR rates at Rs 610 per share

Country’s biggest steel manufacturer Tata Steel has set a rate at higher end of price band of Rs 594=610 a share for its 5.7 crore equity shares’ follow-on public offer.

CRISIL allocate s grade 1/5 to Studar Garments IPO

CRISIL Equities has allocated a grade 2/5 to the projected IPO of Sudar Garments, which points out that the essentials of the IPO are deprived comparative to further listed equity securities in India, CRISIL accounts on January 21.

MLR Securities advises to stay away from Omkar Specialty IPO

Omkar Specialty Chemicals’ initial public offering of 81 lakh equity shares is launched for investment. It has a set priced band at Rs 95-98 per equity shares for the submission, which ends on January 27.

BSE Sensex plunges 0.2% on downbeat market

The BSE 30-share Sensex was down 39.01 points or 0.2% to 19007.53. The index rose 18.80 points at the day's high of 19,065.34 in early afternoon trade. The index declined 114.14 points at the day's low of 18,932.40 in mid-afternoon trade.

The S&P CNX Nifty was down 15.10 points or 0.26% at 5,696.50.

The BSE Mid-Cap index rose 0.22%. The BSE Small-Cap index gained 0.46%. Both these indices outperformed the Sensex.

Sectoral indices on BSE were mixed. The BSE Oil & Gas index (up 0.78%), banking sector index Bankex (up 0.77%), Power index (up 0.67%), Consumer Durables index (up 0.53%), PSU index (up 0.29%), Capital Goods index (up 0.17%), Auto index (up 0.12%) and Healthcare index (down 0.17), outperformed the Sensex. The BSE Realty index (down 0.5%), Metal index (down 0.73%), FMCG index (down 1.28%), and IT index (down 1.29%), underperformed the Sensex.

BSE clocked turnover of Rs 3023 crore, lower than Rs 3347.16 crore on Thursday, 20 January 2011.

Market Breadth:

Positive 1516 Negative 1366 Unchanged 104
From the 30 share Sensex pack, 18 fell and rest rose.

Rane Madras Limited announces interim dividend of Rs 4.50 per share

Rane (Madras) Limited has notified BSE that the Board of Directors of the Firm at its conference which happened on January 21, 2011, inter alia, announced an interim dividend of Rs. 4.50 per equity share for the year lasting March 31, 2011, on the shell out equity capital of Rs. 101, 641, 450 including 10, 164, 145 equity shares of Rs 10/- each.

CMI FPE signs two fresh purchases for supply of processing lines

CMI FPE Limited has notified BSE concerning a Press Release which was dated January 20, 2011 with the title “CMI FPE Limited inked two new orders for supply of processing lines in India and Togo.”

VIP Industries settles February 02 record date for interim dividend

VIP Industries Limited has notified BSE that the Firm has settled February 02, 2011 as the Record Date for taking into account the eligibility of shareholders allowed to the Interim Dividend for the Fiscal Year 2010-2011, if announced by the Board of Directors at its conference planned, happening on January 27, 2011.

NIIT exploring for fresh location in individual learning business

NIIT has announced its third quarter outcomes. The firm has placed a secured income following tax (PAT) at Rs 12.9 crore as oppose to Rs 9.5 crore (YoY), a 36 percent leap.

Expect 25 percent increase in the future, Corporation Bank says

Corporation Bank has become visible with its third quarter revenues of Fiscal Year 2011. It has accounted net profit of Rs 382 crore against Rs 305 crore, an increase of 25.25 percent on year-on-year basis.

Bajaj Holding allocates 52.51 Lakh shares to specific advocates

Bajaj Holdings & Investment Limited has notified BSE that the firm had, pursuant panel and investors’ sanctions and other legal and regulatory sanctions, issued and allocated 10, 110, 000 favored merits to its advocates on July 28, 2009 at an issue price of Rs. 449.58 per equity share, 25 percent of the issue price was paid on allocation of merits in July 2009.

Bharti Airtel, Reliance Communication revenues are expected to plunge

Foremost mobile carriers Bharti Airtel and Reliance Communications should account lesser quarterly revenue on leaner margin and lofty rates, with markets aiming the launching of 3G services.

Price-Waterhouse ask for respite from SAT in Satyam case

Price-Waterhouse has asked for respite from the Securities Appellate Tribunal in the Satyam case. The audit company transferred SAT opposing the market watchdog Securities Exchange Board of India’s purchase for assessment.

IFCI Venture Capital chooses 10 percent in Ganesh Polytex

IFCI Venture Capital Funds is choosing 10 percent venture in Ganesh Polytex, an average company connected in the industry of recycling consumer PET bottle waste into recycled polyster staple fiber (RPSF), for roughly Rs 13.5 crore (USD 2.9 million).

Supreme Court condemns Sibal for annotations on CAG account

The Supreme Court today reprimand telecom minister Kapil Sibal for creating announcement deflating the CAG account on the 2G rip-off. The Supreme Court told that it is ill-fated. The minister should act with some good judgment and should know his duty.

Indian Bank FPO: DRHP to be submitted in May

Indian Bank is likely to collect Rs 1,500 crore but a follow-on public issue, which is expected to strike the market in July. The Draft Red Herring Prospectus for the issue would be submitted probably in May.

Albert Diamonds purchases 7.05 lakh shares of C Mahendra Exports

Diamond jewellery foremost C Mahendra Exports’ shares sees 25 bulk agreement on Thursday. Albers Diamonds Private Limited purchased 7, 05, 305 equity shares at Rs 110.61 per share.

Tata Steel FPO invested 2.21 times

The follow-on public offer of the globe’s seventh biggest steel firm Tata Steel, which ends today, has been invested 2.21 times so far, as each statistics on hand from exchange. The issue has collected offers for 10.75 crore equity shares as against the issue size of 4.86 crore shares (excluding the affix shareholders’ part).

BSE Sensex soars 0.36% as IT, banking lead market rise

The BSE 30-share Sensex was up 68.22 points or 0.36% to 19,046.54. The index jumped 121.94 points at the day's high of 19,100.26 in mid-afternoon trade. The index declined 183.59 points at the day's low of 18,794.73 in afternoon trade.

The S&P CNX Nifty was up 20.55 points or 0.36% at 5,711.60.

The BSE Mid-Cap index rose 0.14% and the BSE Smal-Cap index gained 0.04%. Both these indices underperformed the Sensex.

Sectoral indices on BSE were mixed. Banking sector index Bankex (up 1.66%), and IT index (up 1.13%), outperformed the Sensex. The BSE Consumer Durables index (up 0.27%), PSU index (up 0.27%), Metal index (up 0.21%), Healthcare index (up 0.18%), Power index (up 0.13%), Capital Goods index (down 0.02%), Auto index (down 0.03%), Realty index (down 0.24%), FMCG index (down 1.19%) and Oil & Gas index (down 1.5%), underperformed the Sensex.

BSE clocked turnover of Rs 3104 crore, lower than Rs 3476.86 crore on Wednesday, 19 January 2011.

Market Breadth:

Positive 1370 Negative 1479 Unchanged 98
From the 30 share Sensex pack, 17 rose and rest fell.

Britannia Industries to get out from CSE

Britania Inustries Limited has notified the Exchange that the endorsement for deliberate delisting of the Equity Shares of the Firm under SEBI (Delisting of Equity Shares) Regulations 2009 has been settled by the Calcutta Stock Exchange Limited (CSE) w.e.e.f January 12, 2011.

Il&FS; Transportation to increase arena in Kerala for Rs 161 cr

Il&Fs Transportation Network Limited has notified the Exchange that the firm had filed its offer with the National Games Secretariat (the “Authority” or “NGS”) for growth of outdoor Arena at Karyavatto, Thiruvananthapuram, Kerala (the “Project”).

MOIL sets Feb 18, 2011 account date for interim dividend

Moil Limited has notified the Exchange that the “Record Date” for the intention of shaping the right of the investors for the interim dividend, if any, shall be February 18, 2011. Moreover, the Interim Dividend, if announced, shall be paid/dispatched to the qualified investors on March 02, 2011.

Food price increase alleviates, although RBI deed witnessed

Food price increase alleviated for two consecutive weeks in January, trailing lesser costs, but speeding up banner price increase in December is expected to set stress on the Reserve Bank to collect costs at policy evaluation on January 25.

Bharti Airtel predicts great accomplishment on MNP stage

Mobile number portability (MNP), an act that is anticipated to more escalating rivalry in the previously packed mobile services market. With the execution of MNP, consumers would obtain a broader selection and would be capable to toggle between contractors.

Treads Arcolab section Agila approves Joint Venture with Biochimico

Treads Arcolab limited has notified the Exchange concerning a press release which was dated January 20, 2011 with the title “Agila Signs Agreement with Biochimico to arrange a joint venture firm in Brazil.

Anticipate radio business to smash even on the following year, Midday says

Midday will come out its asset division, Midday Infomedia, including of Midday Multimedia’s whole print industry, to Jagran Prakashan. The supply has plunge placement this plan of agreement.

C Mahendra Exports is supposed to reach Rs 120 crore PAT this year, Udayan says

Diamond jewelry foremost C Mahendra Exports has positively been a shipper following a listing over bourses. On the National Stock Exchange, the shares launched at Rs 114, a premium of Rs 4 over issue price of Rs 110. On the Bombay Stock Exchange, the stock began at Rs 111 and was selling at Rs 117.05 as opposed to the issue price.

BSE Sensex slumps 0.6%; market downfall spearheaded by IT, capital goods

The BSE 30-share Sensex was down 113.73 points or 0.6% to 18,978.32. The index rose 75.01 points at the day's high of 19,167.06 in early afternoon trade. The index fell 193.49 points at the day's low of 18,898.56 in late trade.

The S&P CNX Nifty was down 33 points or 0.58% at 5,691.05.

The BSE Mid-Cap index rose 0.15%. The BSE Small-Cap index gained 0.09%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 3463 crore, higher than Rs 3055.47 crore on Tuesday, 18 January 2011.

Market Breadth:

Positive 1447 Negative 1432 Unchanged 116
From the 30 share Sensex pack, 21 fell and rest rose.

HCL Tech to announce interim dividend of Rs 2 per share

HCL Technologies Limited has notified BSE that the Board of Directors of the firm at its conference which happened on January 19, 2011, inter alia, has announced an interim dividend of Rs 2/- per equity of face value of Rs 2/- each of the Firm.

Aarti Industries fixes February 08, 2011 for interim dividend

Aarti Industries Limited has notified the Exchange that the firm has settled February 08, 2011 for the intention of compensation of Interim Dividend if any, announced.

Allahabad Bank to increase interest rate on deposit form

Allahabad Bank has notified the Exchange that the Bank has settled on to augment the interest rate ranging from 0.50 percent to 1.50 percent on various term deposit plans with effect from January 20, 2011.

Crompton Greave settles February 14, 2011 account date for interim dividend

According to Crompton Greaves Limited, it has already notified BSE that the Record Date compensation of interim dividend will be February 04, 2011 and the date of imbursement will be February 14, 2011.

HOV Services settles February 02, 2011 account date for interim dividend

In the latest development, HOV services Limited has notified BSE that February 02, 2011 has been settled as the Record Date for the intention of compensation of interim dividend.

Rolta India may sell 50 percent venture in Shaw Rolta Joint Venture

According to the IT firm Rolta India, it is expected to put on sale 50 percent venture in the joint venture firm Shaw Rolta for more than Rs 150 crore.

India might tie up Iran oil compensation path before long

The administration might tie up steering of funds as compensation on the way to Iran oil imports in the next few days, according to Oil secretary S Sundareshan on Wadnesday.

Obstinate price increase to prompt further 2011 rate hikes

The disturbingly high price hike will fall down only little by little during the arriving quarters as the financial system keeps on to race in advance, probably prompting the central bank to increase interest costs further assertively than previous thought.

2011 is going to have sturdy demands, HCL Tech says

India’s fourth biggest IT services exporter HCL Technologies has accounted a development of 20.85 percent in net profit for the second quarter of financial year 2011. The firm, in the said quarter accounted combined net profit at Rs 400 crore as in opposition to Rs 331 crore in earlier quarter.

Lanco Infra perceives rational hike of 25 percent in proceeds in FY 2011

Chief Executive Officer Suresh Kumar of Lanco Infratech told that he waits for his Fiscal Year top line to witness an important surge in the development. He explained that a rational leaped in the firm’s topline, 25 percent in increase will be seen on a YoY basis.

Bajaj Auto hopes 20 percent volume increase in Fiscal Year 2012

Bajaj’s Auto’s December quarter (Fiscal Year 2011) net profit has leaped 40.42 percent (YoY) at Rs 667 crore against Rs 475 crore. In the term, it’s proceeds were up 26.76 percent at Rs 4177 crore against Rs 3295 crore during the last year’s term.

RBI settles down policies to alleviate liquidity crunch in MFIs

The Reserve Bank of India has provisionally settled down sorting policies for bank loans to the microfinance sector, an act that it stated will permit them to keep on lending to the business.

Reliance Communications appends 3.28 in mobile consumers during December

Indian telecom firms announced their sales figures for the month of December. Reliance Communications appends 3. 28 million mobile consumers in December and nation’s biggest telecom player Bharti Airtel appended 3.1 million GSM consumers in same month.

Administration says keen to mull over Vedanta refinery schemes

Environment Minister Jairam Ramesh told on Wednesday that he was eager to restore Vedanta Resources’ scheme to develop its alumina refinery in Orissa presented the company caucus discussed definite stipulations.

Hindustan Zinc signs bonus issue, stock split

Hindustan Zinc Limited has notified BSE that the Board of Directors of the Firm at its conference which happened on January 19, 2011, inter alia, has offered issue of bonus share ratio of 1:1 and also sub division of its equity share of face value Rs. 10 apiece into 5 equity shares of face value of Rs. 2 apiece, subject for endorsement of investors.

RBI announces Anand Sinha as a new deputy governor

Reserve Bank of India (RBI) told on Wednesday Anand Sinha was announced as the new deputy governor of the bank until February 28, 2013. Sinha, who has reinstated Usha Thorat, will take care of regulatory section with Department of Banking Operations and Development and the Urban Banks Department.

Private competitors offshoot power units to collect subsidy

Jindal Power has declared its purpose to drift an initial public offering (IPO) this April. A move that should have been anticipated, for it fits in with the up-and-coming trend among private competitors who have been intensifying their endeavors on leveling up their power sector business.

Angel Broking favors Tata Steel for buoyant business viewpoint

The globes’ seventh biggest steel producer Tata Steel’s follow-on public bid has launched for investment. Anchor shareholders seem positive on the firm after looking at their retort to the issue on Tuesday.

BSE Sensex rises 1.11% as every sector grows but oil & gas

The BSE 30-share Sensex jumped 209.80 points or 1.11% to 19092.05. The index surged 238.37 points at the day's high of 19,120.62 in late trade. The index rose 51.22 points at the day's low of 18,933.47 in mid-morning trade.

The S&P CNX Nifty was up 69.30 points or 1.23% at 5,724.05.

The BSE Mid-Cap index rose 0.45%. The BSE Small-Cap index gained 0.28%. Both these indices underperformed the Sensex.

Barring the BSE Oil & Gas index, all the other sectoral indices on BSE rose. The IT index (up 2.6%), Metal index (up 2.31%), Healthcare index (up 1.64%), FMCG index (up 1.52%), banking sector index Bankex (up 1.43%), and Consumer Durables index (up 1.3%), outperformed the Sensex. The BSE PSU index (up 0.57%), Auto index (up 0.44%), Realty index (up 0.31%), Capital Goods index (up 0.19%), Power index (up 0.02%) and Oil & Gas index (down 0.12%),
underperformed the Sensex.

BSE clocked turnover of Rs 3033 crore, lower than Rs 3051.87 crore on Monday, 17 January 2011.

Market Breadth:

Positive 1517 Negative 1367 Unchanged 117
From the 30 share Sensex pack, 23 rose and rest fell.

Diamant Infrastructure to allocate exchangeable warrants subscribed on preferential basis

Diamant Infrastructure Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on January 18, 2011, for allocation of Convertible Warrants issued on Preferential basis.

De Nora India obtains purchase costing Rs 20 crore

De Nora India Limited has notified the Exchange that the Firm has received a purchase (approx) Rs. 20.00 Crores to be implemented over a period of 17 months fot 5 TPD Sodium Chlorate Project.

Selling in Hindustan Motors equity shares to be postponed

Members of the Exchange are hereby notified that the selling in equity shares of Hindustan Motors Limited shall be postponed w.e.f. January 27, 2011 (i.e. closing hours of selling on January 25, 2011) on report of Scheme of Capital Reduction.

Jindal Saw obtains purchase costing Rs 700 crore

Jindal Saw Limited has notified the Exchange vide its letter which was dated January 18, 2011, that “Jindal Saw Limited bags orders for approximately Rs 700 Crores.”

Pearson breaks up 76 percent in TutorVista; invests additional USD 127 Million

British media group Reason Plc is purchasing TutorVista Global Private Limited, an education company which is located at Bangalore, by escalating its venture to 76 percent for USD 127 million.

Ybrant Digital collects USD 48 million from Oak India

Ybrant Digitals, the international digital marketing firms, has collected USD 48 million round of new financing as amalgamation of debt and equity. Oak India Investments, an associate of Oak Investment Partners, joined in the new financing round connected by recent financers Asia Pacific Capital with ICICI Bank.

Anand Sharma hints disagreement to RBI rate increase

Trade Minister Anand Sharma told on Tuesday that financial policy may not be the exact tool to combat lofty food price increase, in a sturdy political gesture in opposition to a price increase in the following week’s Reserve Bank policy review.

3i Infotech gets agreement from Manipal Health Enterprises

3i Infotech Limited has notified BSE that the Firm obtains a very important contract in the health care sector from Manipal Health Enterprises Private Limited (MHELP), to supply continuous IT Infrastructures Solutions.

Whole year target for expenditure at Rs 9,000 crore, Bajaj Finance announces

Bajaj Finance has announced its outcomes for the quarter lasted December 2010. It has accounted a major augmentation in its net profit at Rs 76.4 crore versus Rs 27.3 crore (YoY), a 181 percent increase.

Reliance Communications depicts ECB of Rs 1155 crore for 3G spectrum refinancing

Reliance Communications Limited has notified BSE concerning a Press Releasing which was dated January 18, 2011 with the tittle “Reliance Communications draws down ECB USD 255 Million (Rs 1155 Crore) for 3G Spectrum Refinancing.”

Environment Ministry inquires Lavasa to arrange restoration fund

The Environment Ministry filed its accounts on the Lavasa venture. The account proposes that there have been coarse infringements by Lavasa. The infringements are severe in nature the account tells and the Environment of Ministry has told that it would be hard to grant the venture.

Economy in Rural India: the Do's and don’ts

Place the monetary system’s deceleration, legislators and firms are hectic in conniving stratagems to market products and services to a bigger market. Even as improving revenues promptly is no longer the indispensable factor.

Four Soft goes into contract with Universal Freight Management

Four Soft Limited has notified the Exchange concerning a press release which was dated January 18, 2011 with the title “Universal Freight Management Optimizes its Supply Chain with Four Solutions.”

Ashok Leyland obtains new purchases from VRL Logistics

Ashok Leyland has notified the Exchange concerning a press release which was dated on January 18, 2011 with the title, “Ashok Leyland bags fresh orders from VRL Logistics.”

C Mahendra Exports to subscribe shares on January 20

Diamond Jewelry foremost firm C Mahendra Exports has settled January 20 as a subscription date for its equity shares. It has lay down an issue price at higher end of price band Rs 95-110 per share.

Tata Steel bid: Merchant bankers’ move was disreputable

The Steel Ministry is disappointed at the four merchant bankers supervising Tata Steel’s follow-on offer since they are due to manage the SAIL, too. The Steel Minister, Mr. Virbahadra, told that the move made by these banks were disreputable.

ONGC picked out six merchant bankers

The Disinvestment Department and ONGC have jointly picked out six merchant bankers to supervise the sale of 5 percent Government equity in ONGC. The Administration is expecting to swab between Rs 13,500 crore to Rs 18,000 crore from the venture sale.

Jindal Power aims to collect Rs 7,000 crore through IPO

Jindal Power (JPL) is aiming to swab Rs 7,000 crore with its initial public offering (IPO) which is set to strike the market by April this year. Jindal Power IPO might arrive by the end of March or mid-April.

BSE Sensex surges 0.12% as IT, banking lead market gain

The BSE 30-share Sensex was up 21.81 points or 0.12% to 18,882.25. The index shed 81.06 points at the day's low of 18,779.38 in early trade, its lowest level since 9 September 2010. The Sensex rose 158.50 points at the day's high of 19,018.94 in afternoon trade.

The S&P CNX Nifty was almost unchanged at 5,654.75. The Nifty hit a low of 5,624.15 in early trade, its lowest level since 9 September 2010.

The BSE Mid-Cap index fell 1.39%. The BSE Small-Cap index declined 1.4%. Both these indices underperformed Sensex.

Sectoral indices on BSE were mixed. The BSE IT index (up 1.73%), Consumer Durables index (up 0.25%), banking sector index Bankex (up 0.23%), and FMCG index (up 0.16%), outperformed the Sensex. The Realty index (down 2.37%), Metal index (down 1.32%), Capital
Goods index (down 1.17%), Power index (down 1.16%), Healthcare index (down 0.59%), PSU index (down 0.44%), Oil & Gas index (down 0.34%), and Auto index (down 0.08%), underperformed the Sensex.

BSE clocked turnover of Rs 3040 crore, lower than Rs 3148 crore on Friday, 14 January 2011.

Market Breadth:

Positive 860 Negative 2041 Unchanged 98
From the 30 share Sensex pack, 17 fell and rest rose.

Marsons announces bonus share in the ratio 1:4

Marson Limited has notified BSE that the Board of Directors of the Firm at its conference which happened on January 15, 2011, inter alia, has announced to issue of Bonus Shares in the ratio of 1 equity shares of Rs 10/- each fully paid for every 4 Equity Shares of Rs. 10/- each to endorsement of the Investors of the Firm.

Wipro to mull over interim dividend

With allusion to the previous declaration dated January 10, 2011, concerning Board Meeting which will happen on January 21, 2011, for the endorsement of quarterly results for the quarter which lasted December 31, 2010 (third quarter).

CIL might overlook production target this year on green woes

Coal India, a firm owned by the government, may end financial year 2011 behind its targeted production goal. The firm has failed to capitalize on an augmentation in demand due to production issues.

Kavveri telecom Products to allocate equity shares

Kavveri Telecom Products Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on February 02, 2011, to allocate (i) 40 lakhs equity shares to advocates on preferential basis.

Daily proceeds trouncing on fuel sales at Rs 159 crore, IOC says

Indian Oil Corporation which is owned by the government is creating a daily profit loss of Rs 159 crore (USD 35 million) for selling diesel and cooking fuels at administration-fixed cheaper costs, according to the company.

RBI head tells that the country is in front of a heaving price increase

The Reserve Bank of India (RBI) chief told on Monday that the nation is in front of a heaving price increase and it must standardize financial policy in order to control price increase and also support the development of the nation.

Steel Strips Wheels obtains 6 lakh wheel orders from Peugoet Citroen of France

Steel Strips Wheels Limited has Notified the Exchange vide its letter which was dated January 17, 2011, that “SSWL bags 6 lakh wheel order from Peugeot Citroen of France.

Punjab & Sind Bank goes into tie-up with HCL Infosystems

Punjab & Sind Bank has notified that the Bank has gone into a tie-up with M/s. HCL Infosystems Limited for supplies of Smart Card based Technology solution for Monetary Inclusion besides engaging and supervising Business Correspondents set out in unbanked towns assigned.

Four Soft fortifies economic focus in Japan with Suzuyo partnership

Four Soft Limited has notified the Exchange concerning a press release vide its letter which was dated on January 17, 2011 with the title, “Four Soft strengthens market focus in Japan with Suzuyo partnership.”

DQ Entertainment approves French CO production contract for “Little Nick”

In the latest development, DQ Entertainment (International) Limited has notified BSE concerning a Press Release with the title “DQE Signs French CO Production Deal for LITTLE NICK.”

Abhishek Industry completes development of production aptitudes of Terry Towel

Abhisek Industries Limited has notified that the Firm has completed Expansion of production aptitudes of Terry Towel ubder which Firm has set up 14 fresh looms.

VA Tech Wabag approves Joint Venture contract with Zawawi Trading

A Tech Wabag Limited has notified the Exchange that “Va Tech Wabag” has approved a Joint Venture contract with Zawawi Trading Company (ZTC), a prominent group in Sultanate of Oman to hit the operation and maintenance business in the water territory in Oman.

Triveni Engineering approves renewal license contract with Lukkin Industries

Triveni Engineering & Industries Limited has notified BSE that the firm has on January 12, 2011 approved renewal of its License Contract for a term of twelve years with Lufkin Industries Incorporated, Lufkin, Texas, USA to produce high speed gear and gear boxes.

Price increase to alleviate to 6.5 percent by March

Price increase is likely to alleviate to more or less 6.5 percent by the end of March, according to Finance Secretary Ashok Chawla on Monday. India’s banner price increase increased a yearly 8.43 percent in December over higher food costs.

Midvalley Entertainment lay down issue price at higher end

Media and entertainment firm Midvalley Entertainment has laid down its issue price at the higher end of Rs 64-70 per share. It collected Rs 60 crore by issuing 85, 71, 429 equity shares.

ONGCC appoints six banks for share sale

Oil and Natural Gas Corporation, a firm owned by the Indian administration, has ordered six banks for its follow-on public offer to collect more or less USD 3 billion, according to IFR on Monday.

Indian Oil share sale to be postponed to next fiscal year

Indian Oil Corporation, a firm owned by the government, will have its share sale postponed to the next fiscal year starting on April 1, Oil Secretary S Sundareshan told on Monday.

Advocate investment to plunge by 2.4 percent post FPO, Tata steel advises

Subsequent to the follow-on public offer (FPO) of Tata Steel, its advocate investment share will plunge to 2.4 percent taking it to 30.08 percent, according to firm’s Chief Financial Officer, Koushik Chattejee.

Kalyani Investment to sell off exchange from January 14, 2011

Trading Members of the Exchange are hereby notified that effective from January 14, 2011 the equity shares of Kalvani Investment Company Limited (Scrip Code: 533302) are listed and admitted to selling on the Exchange in the list of ‘T’ Group Securities.

BF investment to sell on exchange from January 14, 2011

Trading Members of the Exchange are hereby notified that effective from January 14, 2011 the equity shares of BF Investment Limited (Scrip Code: 533303) are listed and admitted to selling on the Exchange in the list of ‘T’ Group Securities.

Nitesh Estates purchases 51 percent venture in SPV-Nitesh Urban Developers

Nitesh Estates Limited has notified the Exchange that Nitesh Estates Limited (NEL) has purchased 51 percent venture in a SPV - Nitesh Urban Developers Private Limited (NUDPL.)

Sezal Glass approves MOU with Administration of Gujarat at the ‘Vibrant Gujarat’ Summit 2011

Sezal Glass Limited has notified the Exchange vide its letter which was dated January 13, 2011 concerning a press release with a title “Sezel Glass Limited signs an MOU with Government of Gujarat the ‘Vibrant Gujarat’ Summit 2011.”

Blackstone-backed Intelenet to remove from list sparsh BPO services

Blackstone-backed BPO Company Intelenet Global, has created a proposal to obtain 25.06 percent it does not hold In stock exchange-listed outsourcing company Sparsh BPO Services Limited with a floor or minimum rate at R 68.6 per share.

Orient Global creates fractional Exit From Yes Bank

Orient Global has kick off the second round of fractional exit from Yes Bank. The private equity fund that had funded Rs 330 crore in December 2007 has obtained an approximated 18 percent on its three year old outlay in most recent share sale at Rs 265 per share.

Kaushik Basu predicts lower January price increase

The yearly banner price increase in January is seen lesser than that in December, according to Chief Economic Adviser to the Finance Ministry Kaushik Basu on Friday. Basu also told that the administration aims to take more measures to control price increase.

Harrisons Malayalam expects investment arm will list in 10 days

Harrisons Malayalam has witnessed healthy growth in an otherwise plunged market. The rubber-growing foremost firm is aiming to expand its focus on its rubber industry which is likely to produce 60-65 percent in proceeds in FY11.

Kansai Nerolac Paints divest its 49 percent venture in Nipa Chemicals for Rs 25.72 crore

Kansai Nerolac Paints Limited has already notified that the Firm has divested 49 percent venture in Nipa Chemicals Limited, an unlisted Indian Firm, for an amount of Rs 25.72 crores.

JMD Telefilms opens specific MOBILE VAS services

According to JMD Telefilms Limited, the firm has already notified BSE concerning a Press Release with the title “JMD Telefilms Industries launches specific MOBILE VAS services.”

Singer India advertisers sell 2433 equity shares

In the latest development, according to Singer India, it has already notified BSE that advertisers have sold 2433 equity shares on January 13, 2011 in the secondary market.

Sun Tv Network; February 3, 2011 account date for interim dividendSun Tv Network; February 3, 2011 account date for interim dividend

Sun Tv Network limited has notified the Exchange that February 3, 2011 shall be the Record Date for the Interim Dividend if any, announced at the Board Meeting which will happen on January 28, 2011.

Sacheta Metals to allocate shares to offered Preferential Allottes

Sacheta Metal Limited has notified BSE that a conference of the Board of the Directors of the Firm will happen on January 15, 2011, inter alia, to allocate shares to the offered Preferential Allottes pursuant in-principle sanction obtained from the Stock Exchange.

GlaxoSmithkline to mull dividend

GlaxoSmithkline Consumer Healthcare Limited has notified BSE that a conference of the Board of Directors of the Firm will happen on February 2, 2011, inter alia, to consider and take on account the Audited Financial Results for the Year ended December 31, 2010.

Construction in Vikroli to start by the end of January, Adi Godrej says

Godjrej Properties told that a plunge in its combined net profit at Rs 15.5 crore for the end of the quarter in December against Rs 17.6 crore in similar period a year later. Combined net sales of the firm were up at Rs 48.2 crore against Rs 20.3 crore.

January price increase expected to be closer to 7 percent, Kaushik Basu says

Price increase speed up during December on costlier foor items, bolstering probabilities for another rate augmentation by the Reserve Bank of India (RBI) later this month to calm down rising rates.

Shekhawati Poly-Yarn sees 399 bulk contract

Textile Company Shekhawati-Poly Yarn had a good introduction on the exchanges on January 12. The scrip tapped an intraday high of Rs 69.70. a premium of Rs 130 percent on the issue price of Rs 30. The stock stayed at Rs 47.50, up 58.3 percent on Bombay stock exchange.

Abhijeet Power to submit for USD 333 million IPO by early February

Abihjeet Power which is located at Nagpur is in progressive phases of searching regulatory sanction for an initial public offering of up to Rs 1500 crore and likely to submit documents by early February, according to a Senior official.

BSE Sensex slides 1.68% on another downbeat trading day

The BSE 30-share Sensex was down 322.38 points or 1.68% to 18,860.44, its lowest closing level since 9 September 2010. The Sensex rose 265 points at the day's high of 19,447.82 in afternoon trade. The index shed 370.86 points at the day's low of 18,811.96 in late trade.

The S&P CNX Nifty was down 97.35 points or 1.69% at 5,654.55, its lowest level since 9 September 2010. The Nifty hit low of 5639.65 in late trade.

The BSE Mid-Cap index fell 1.18%. The BSE Small-Cap index declined 1.04%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 3120 crore, lower than Rs 3564.44 crore on Thursday, 13 January 2011.

Market Breadth:

Positive 882 Negative 2009 Unchanged 97
From the 30 share Sensex pack, 25 fell and rest rose.

BSE Sensex dips 1.8% as every sector drops but realty

The BSE 30-share Sensex was down 351.28 points or 1.8% to 19,182.82, its lowest closing level since 26 November 2011. The index shed 397.83 points at the day's low of 19,136.27 in late trade. The Sensex fell 11.72 points at the day's high of 19,522.38 in early afternoon trade.

The S&P CNX Nifty was down 111.35 points or 1.9% at 5,751.90, its lowest closing since 9 September 2010.

The BSE Mid-Cap index fell 0.8% and the BSE Small-Cap index fell 0.65%. Both these indices outperformed the Sensex.

Except the BSE Realty index, all the other sectoral indices on BSE declined. Banking sector index Bankex (down 3.53%), IT index (down 3.41%), and Consumer Durables index (down 2.7%), underperformed the Sensex. The BSE Metal index (down 1.23%), Oil & Gas index (down 1.1%), PSU index (down 1.01%), Healthcare index (down 0.7%), Capital Goods index (down 0.62%), Power index (down 0.54%), Auto index (down 0.3%), FMCG index (down 0.27%) and Realty index (up 0.54%), outperformed the Sensex.

The BSE clocked turnover of Rs 3554 crore, lower than Rs 3992.25 crore on Wednesday, 12 November 2011.

Market Breadth:

Positive 1122 Negative 1756 Unchanged 101
From the 30 share Sensex pack, 25 fell and rest rose.

GVK might obtain final approval on Mumbai airport land in 3 - 4 months

Chief Finance Officer Isaac George of GVK Power & Infrastructure told that the firm is fully equipped to obtain road projects from NHAI. According to him, the firm will sure try its best to succeed on some of these ventures.

MRPL grants one of 4 tender

India’s Mangalore Refinery and Petrochemicals has granted only one of four tenders it had floated to purchase as much as 2.6 million barrels of crude oil, according to two trade sources on Wednesday. The verdict may point out that MRPL, the largest Indian client of Iranian crude, likely to spot the motion almost immediately.

Food price increase remains high, rate hike witnessed

Food price alleviated slightly from a year but remained at heights enough to maintain anxiety on yearly banner price increase in December and strengthen probability of a rates hike by the central bank.

Lenders support Ispat’s conquest by JSW Steel

Lenders have supported Ispat Industries conquest by JSW steel. Lenders will transform their Rs 191.4 crore loans into equity at Rs 14.70 per share. The remunerate issue, it is told that it would just be taken up in a while.

Lemon Tree, Warburg Close to Housing Joint Business Enterprise

Lemon Tree, Warburg Pincose to Close to Inexpensive Housing Joint Business Enterprise- Patu Keswani, advocate of Lemon Tree chain of hotels, is in last phase discussions with global private equity financer Warburg Pincus to propose a joint venture for his inexpensive housing venture.

Level of turn down in November IIP is surprising, Nomura India says

Sonal Varama of Nomura India told that the level of turn down in November IIP digits is surprising. Although, she wouldn’t see that as a huge fall down in financial system’s action. Financial system action is in a consolidation stage, Sonal Varma added.

Administration to prohibit exports of wheat products

The administration in a succession of measures to reclaimed spiraling food costs that have motivated accelerating price increase and mounted pressure on a besieged ruling of Congress party. Prime Minister Manmohan Singh is likely to declare measures including prohibiting the export of wheat products and getting rid of important commodities from the futures market.

IOC not affected by Iran crude payments row

Indian Oil Corporation has so far been unmoved by oil payments row with Iran, although it could roll to the spot market if there is any commotion to imports, according to the chairman of the firm on Tuesday.

Infosys expects revenue at USD 1.61 billion, EPS at Rs 31 in fourth quarter of Fiscal year 2011

Infosys’ performance during December has been crumb behind street ballpark figure. The firm has accounted merged net profit at Rs 1,780 crore versus Rs 1,737 crore in the preceding quarter, a development of 2.48 percent (based on IFRS - International Financial Reporting Standards).

Seqoia Capital hoists venture In Ess Dee Aluminum

Sequoia Capital India has hoisted a venture in Ess Dee Aluminum Limited, which creates wrapping materials utilized by pharmaceutical firms, from the open market. The stake and development capital shareholder has hoisted 1.87 percent for Rs 26.88 crore in the Mumbai firm Ess Dee that purchased loss-making India Foils from Vedanta.

Elecon Engineering obtains purchase worth Rs 24.83 crore

Elecon Engineering Company Limited has notified BSE that Firm has been granted esteemed purchases of Rs 24.83 crores from S.K, Samanta & Co. (P) Limited for blueprint, engineering, production, supplying, erection processes, testing, commissioning of Material Handling Equipments and other Tool.

Shekhawati Poly-Yarn closes with 58 percent premium on BSE

Textile Company Shekhawati Poly-Yarn had a fine introduction on the exchange as the scrip reached an intraday high of Rs 69.70, a premium of Rs 130 percent on an issue value of Rs 30.

Midvalley Entertainment IPO invested 4 times

The Rs 60-crore initial public offering of south based media & entertainment firm Midvalley Entertainment, which closed today, has invested 4.03 times, as per data available on exchange. The issue obtained offers for 3.78 crore equity shares versus issue bulk of 93.75 lakh shares.

Point Red Telecom aims Rs 102 crore IPO

Point Red Telecom, makers of WiMAX tools is ready to hit capital market to subsidize its expansion schemes. It has submitted draft herring prospectus with market watchdog SEBI for an Rs 102 crore initial public offering (IPO).

BSE Sensex soars 1.76% as market on a big rebound

The BSE 30-share Sensex was up 337.76 points or 1.76% to 19,534.10. The Sensex jumped 378.29 points at the day's high of 19,574.63 in late trade. The index lost 147.78 points at the day's low of 19,048.56 in early afternoon trade.

The S&P CNX Nifty was up 109.15 points or 1.9% at 5,863.25.

BSE clocked turnover of Rs 3448 crore, higher than Rs 3416.25 crore on Tuesday, 11 January 2011.

The BSE Mid-Cap index rose 1.68% and BSE Small-Cap index gained 1.42%. Both these indices underperformed the Sensex.

Except BSE Capital Goods index, all the rest sectoral indices on BSE were in the green. The BSE Consumer Durables index (up 4.64%), Realty index (up 3.27%), Metal index (up 2.8%), banking sector index Bankex (up 2.66%) and Auto index (up 2.02%) outperformed the Sensex.

The BSE Capital Goods index (down 0.18%), PSU index (up 0.5%), Power index (up 0.74%), HealthCare index (up 0.77%), FMCG index (up 1.11%), Oil & Gas index (up 1.19%), IT index (up 1.67%) and Teck index (up 1.74%) underperformed the Sensex.

Market Breadth:

Positive 1861 Negative 1067 Unchanged 90
From the 30 share Sensex pack, 22 rose and rest fell.

Wyeth announces interim dividend at Rs 15 per share

Wyeth Limited has notified the Exchange that the interim dividend of 150 percent i.e. Rs 1500 per equity share will be Paid on February 01, 2011.

Swaraj Mazda name altered to SML Isuzu

Members of the Exchange are hereby notified that the name of Swaraj Mazda Limited shall be altered by the name SML Isuzu Limited and the trading sign of the Firm be altered from SWARAJMAZD to SMLISUZU w.e.f. January 17, 2011.

IIP data on anticipated lines, spot better figures ahead, India Inc says

Industrial progress fell to 2.7 percent in November 2010 versus 11.3 percent in the same period last year, hauled by under par performance of producing sector, for the most part the consumer non-durables.

Indigo considers the entire options to invest Airbus contract

Cheap carrier Indigo mulls over the entire options together with a probable initial public offering to fund a USD 15.6 billion deal with Airbus, but has created no verdict yet, according to the company’s president on Wednesday.

Have numerous openings scheme in 2011, Pfizer reveals

Drug firm Pfizer declared its net profit increased by 71.64 percent at Rs 43.6 crore for the fourth quarter-ended November 30, against Rs 25.4 crore, over the same period a year earlier.

ONGCC might innovate east coast block single-handedly

ONGCC, a government owned explorer, which was in discussions with foreign top businessmen to innovate its gas-rich exploration block in the Krisma Godavari basin, may increase the advantage by itself, according to a senior firm representative.

Aurobindo Pharma, MIC Electronics shack majority ventures

Aurobindo Pharma and MIC Electronics have sold ventures in their subsidiaries as they ram their investments. While Aurobindo Pharma sold venture in its China venture Mic sold its total venture in a bow out subsidiary.

Bharti Airtel to open 3G services ‘very soon

Bharti Airtel will open its third generation mobile services, almost immediately, Chief Executive for India and South Asia, Sanjay Kapoor told on Wednesday. Bharti Airtel had 149.4 million mobile consumers in India at end-November, in a market of over 700 million mobile consumers.

Oil India may fail to see 2011 production target of 3.7 million ton

Oil India, a firm run by the government, may fail to see the goal to create 3.7 million ton of crude oil in the recent fiscal year ending March, according to the firm’s director for exploration and development BN Talukdar.

SBI rebuffs investigations by CBI in 2g case

Chairman OP Bhatt of State Bank of India (SBI) has rebuffed that there was any inquiry by Central Bureau of Investigation (CBI) in its headquarter. He told that the accounts have arrived as a bolt from the blue to him.

I-T incursion takes hold of Rs 9 crore from Lodha grounds

Income tax (I-T) raid operation over Lodha group has brought to a close. Starting on January 10, 2011, the taxmen performed investigate at around 40 grounds of Lodha Group. It is discovered that roughly Rs 200 crore of suspected leak has been made by the firm.

PVP Ventures to monetize Chennai asset over the following 7 years

PVP Ventures has come into a joint expansion contract with realty foremost Unitech and Arihant Foundation to innovate commercial property at its 78-acre land in Chennai. The firm anticipates starting to produce cash by the second quarter of calendar year 2011.

ONGCC spots more setbacks in Iran South Pars agreement

Oil and Natural Gas Corporation (ONGCC), a firm run by the government, is likely to have more setbacks in settling a contract to acquire 40 percent venture in Iran South Pars Phase 12, as banks are reluctant to invest the project because of the approval on Iran.

RBI mediates the most in 17 months in November

The Reserve Bank of India (RBI) purchased a net USD 870 million from the currency market in November, getting net purchases in 2010 to USD 1.85 billion, its monthly bulletin illustrated on Wednesday.

December WPI spotted increase to 8.35 percent

India’s wholesale price index in December perhaps mounted 8.35 percent from the previous year, speeding up from November’s 12 month low of 7.48 percent, median prediction’s poll proved. Predictions from 32 economists sorted from 7 percent to 8.9 percent.

Shekhawati Poly-Yarn unveils at Rs 50 on NSE

Textile Company Shekhawati Poly-Yarn’s shares the early assembly at Rs 50, a premium of 66.67 percent more than an issue price of Rs 30 per share on National Stock Exchange. At 9:40 hours IST, it was selling at Ts 37.10, with volume of 1.16 crore equity shares while it eradicated some increase due to profit booking.

Tata Steel FPO to launch on January 19, 2011

Nation’s biggest steel manufacturer Tata Steel is going to open its follow-on public offer (FPO) almost immediately. On Tuesday, the panel of directors signed 5.7 crore shares FPO. The firm is expected to collect Rs 3,750 crore through FPO at recent market cost.

L&T;’s finance wing IPO expected this quarter

Larsen & Toubro is expected to have an initial public offer this quarter for its fiscal wing, according to a senior firm representative on Wednesday. It all depends on economic stipulations; market has to be fairly steady, Chief Financial Officer YM Deosthalee explained.

BSE Sensex sheds 0.14% on sixth consecutive downbeat market

The BSE 30-share Sensex was down 27.78 points or 0.14% to 19,196.34, its lowest closing level since 26 November 2010. The Sensex gained 207.44 points at the day's high of 19,431.56 in early trade. The index lost 220.52 points at the day's low of 19,003.60 in late trade.

The S&P CNX Nifty was down 8.75 points or 0.15% at 5,754.10, its lowest closing level since 26 November 2010. Nifty had slipped to an intra-day low of 5,698.20 in late trade.

The BSE clocked turnover of Rs 3407 crore, lower than Rs 3516.59 crore on Monday, 10 January 2011.

The BSE Mid-Cap index fell 0.67% and BSE Small-Cap index declined 0.87%. Both the indices underperformed the Sensex.

Sectoral indices on BSE were mixed. The BSE Bankex (up 1.24%), PSU index (up 0.49%), Auto index (up 0.37%), Capital Goods index (up 0.22%), Metal index (up 0.12%), HealthCare index (up 0.05%), FMCG index (down 0.08%) and Consumer Durables index (down 0.09%), outperformed the Sensex.

The BSE Realty index (down 2.74%), IT index (down 1.6%), Teck index (down 1.27%), Oil & Gas index (down 0.85%) and Power index (down 0.35%) underperformed the Sensex.

Market Breadth:

Positive 1121 Negative 1787 Unchanged 102
From the 30 share Sensex pack, 16 rose and rest fell.

Hexaware to shell out interim dividend on January 21, 2010

Hexaware Technologies Limited has notified the Exchange that the firm has set January 21, 2011 as the Record date for the payment of interim dividend. The interim dividend announced, shall be remunerated to the members on January 28, 2011.

ADC India Communications announces dividend at 15 percent

ADC India Communications Limited has notified BSE that the Board of Directors of the Firm at its conference which happened on November 17, 2010, inter alia, have proposed sum of dividend at 15 percent for the year 2010.

Reliance Industries D6 block aptitude plunges to 52-53 mmscmd

Reliance Industries has a recent gas production of 53-53 million metric standard cubic meters per day (mmscmd) at its D6 block in Krishna-Godavaru basin, head of India’s upstream watchdog told, lesser than 60 mmscmd record in October last year.

India’s 2010 auto sales increases 31 percent, now sluggish

Car sales in India increases almost 29 percent in December, motivated by a escalating middle class and easier way in to loans in Asia’s third biggest financial system, although experts advised a hold back in the middle of an expected increase in interest rates, rising fuel costs and higher value of vehicles in 2011.

Allied Digital in Joint Venture with Singaporean Company

Average Size Company Allied Digital Services told on Tuesday that it has come into a joint venture with e-Cop from Singapore to mount its existence in the administered security services market.

Aurobindo to slash venture in China Joint Venture

Indian drug manufacturer Aurobindino Pharma told on Tuesday that it has approved a definitive deal to divest 51 percent in its Chinese joint venture. The firm from Hyderabad would recuperate the whole loan amount costing USD 23 million it had agreed to Aurobindo (Datong) Bio Pharma.

Pre-credit policy conference: Bankers look for RBI to slash rates

The Reserve Bank of India (RBI) met bankers in advance of its fiscal policy evaluation. Banks have given pointer on the condition established in their system. Worried about the liquidity condition here, bankers inquire the central bank to slash cash reserve ratio (CRR) and statutory liquidity ratio (SLR).

Educomp Solutions, Zeebo Incorporated create Joint Venture to open first Wireless Educational Platform

Educomp Solutions Limited has notified BSE concerning a Press Release which was dated January 11, 2011 with the title “Educomp and Zeebo Inc. Form Joint Venture to Launch First Wireless Platform for Children in India.”

Sun-Apollo endows in Parsynath Exotica - Ghaziabad Housing Venture

Parsynath Developers Limited has notified BSE concerning a Press Release which was dated January 11, 2011 with the title “Sun-Apollo invests in” Parsynath Exotica - Ghaziabad Housing Venture; Parsynath collected INR 1,000 Million in premium residential venture.