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Total Number of Calls - 24

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BSE Sensex plummets 1.21% as market falls thrice in succession

The BSE Sensex was down 222.73 points or 1.21% to 18,209.52, its lowest closing level since 23 June 2011. The Sensex declined 104.40 points at the day's high of 18,327.85 in early trade. The index slumped 243.37 points at the day's low of 18,188.88 in late trade.

The S&P CNX Nifty was down 59.05 points or 1.06% to 5,487.75, its lowest closing level since 24 June 2011. The Nifty hit low of 5,475.65 in intraday trade.

The BSE Mid-Cap index fell 0.88% and the BSE Small-Cap index shed 0.93%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2556 crore, lower than Rs 2779.08 crore on Wednesday, 27 July 2011.

Market Breadth:

Positive 974 Negative 1878 Unchanged 129
From the 30 share Sensex pack, 24 fell and rest rose.

L&T; Finance IPO invested 0.46 times on Day 1

The Rs 1092-crore IPO of L&T Finance Holdings, a subsidiary of engineering & construction firm Larsen and Toubro, has been seen almost 50 percent investment on day 1, with acquiring endorsement from all shareholders.

India semiconductor earning to achieve USD 15 billion by 2015; Gartner says

Motivated by augmenting utilization of mobile phones, computers and LD televisions, India’s semiconductor profits are likely to arrive at $ 15 billion by 2015, according to research Gartner at the moment.

Food price rises at 20-month low of 7.33 percent on July

Food inflation plunged to its lowest rate in 20 months at 7.33 percent for the week that closed on July 16 on the rear of cheaper pulses, while various items become pricier.

Shopper Stop welcomes joint ventures in food business post FDI

Retailer Shopper stop, component of the K Rahela Group, will need to look at joint ventures with foreign companies once foreign direct investment is allowed in multi-brand retail, according to a prominent representative.

India might be the next FDI driver in South Africa, according to forecasters

Religare Capital Market’s acquirement of 74 percent scheming venture in South African broker Noah Financial Innovation has been summoned by forecasters as an indication that the next foreign direct investment driver in South Africa’s monetary services sector.

See 40 percent increase in gaming markets in Fiscal Year 2012, Delta Corp says

Reporting an increase of 200 percent in its first period Fiscal Year 2012 net profit, Hardik Dhebar, Group CEO of Delta Corporation says that gaming and hospitability wings are arranged to thrust the firm’s development, in progress.

Seamec to eye on operation to improve day rates

Seamec has declared its first period (April - June) outcomes. The firm’s first period net profit was Rs 8.6 crore against loss of Rs 22.7 crore, year-on-year (YoY). Its net sales were increased at Rs 46 crore as against to Rs 24.9 crore, YoY.

Cox & Kings to acquire UK’s Holidaybreak for USD 511.3 million

Indian tour operator Cox & Kings Limited will acquire British specialist travel firm Holidaybreak for 312 million pounds ($ 511.3 million) in cash, aiding it reach increasing demand for education travels.

Dr Reddy’s opens generic cancer drug in the US

Pharma major Dr Reddy’s Laboratories has opened Gemcitabine injection in the US market after the nod for its abbreviated new drug application (ANDA) from the US Food and Drugs Administration (FDA).

Marico aims beauty and wellness sector in Asia, Africa

FMCG company Marico which placed a merged net profit of Rs 85 crore for the period that closed on June 30, 2011 at the moment it was tapping business prospects in the beauty and wellness sector in the developing countries.

Auto sales may perceive rough development in fresh markets

The foundation of the auto business’ development has perceived a stable change to developing markets that seem hopeful but hold huge threats as well, AlixPartners study which was made public on Wednesday says.

BSE Sensex declines 0.46% on weak trading day

The BSE Sensex fell 85.97 points or 0.46% to 18,432.25, its lowest closing level since 12 July 2011. The Sensex rose 60.33 points at the day's high of 18,578.55 in early trade. The index fell 159.46 points at the day's low of 18,358.76 in afternoon trade.

The S&P CNX Nifty fell 28.05 points or 0.50% to 5,546.80, its lowest closing level since 21 July 2011. The Nifty hit a low of 5,521.50 in intraday trade, its lowest level since 12 July 2011.

The BSE Mid-Cap index was up 0.23% and the BSE Small-Cap index was up 0.03%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2762 crore, lower than Rs 2899.08 crore on Tuesday, 26 July 2011.

Market Breadth:

Positive 1345 Negative 1498 Unchanged 140
From the 30 share Sensex pack, 20 fell and rest rose.

ICRA allocates grade 4 to Intas Pharmaceuticals IPO

ICRA has allocated a grade 4 to the suggested IPO of Intas Pharmaceuticals (IPL), pointing out beyond standard basics, according to its study account.

Cairn India revenues to divide if asked to split royalty

Cairn India has told that its net revenue will divide to Rs 1,435 crore in the period closed on June 30 if it is asked to split royalty on crude output from all-important Rajasthan oilfield, while its parent Cairn energy appeared apt to concur to the scheme.

RBI deputy governor tells inflation to alleviate from November-December

Inflation will begin to ease from November - December assisted by the increasing impact of past rate moves, according to Subir Gokarn, a deputy governor of the central bank in a teleconference with forecasters on Wednesday.

Nomura dubs new chief of India equities business

Nomura Holding has told on Wednesday it has take on Prabhat Awasthi, who has been working with the Japanese bank for almost three years, as chief of its India equities business.

HCLT to employ 3,000 people in 1st perdion; aims USD 230 million capex in Fiscal Year 2012

Software exporter HCL Technologies (HCLT) at the moment has told that it will increase more or less 3,000 people in the July September period.

Blackstone to put in USD 111 million in VISA Power

Blackstone Group LP will put in Rs 500 crore ($ 111 million) in Indian power manufacturer VISA Power, the private equity company told on Wednesday, in a transaction that emphasize increasing shareholder interest in India’s infrastructure building.

Geometric applies virtual desktop to lessen cost

IT consulting and software services provider Geometric at the moment has told that it has executed a virtual desktop based on VXI cloud architecture with Cisco, NetApp and Citrix technologies to lessen cost.

FSDC evaluates financial stability and economic condition

The Financial Stability and Development Council (FSDC) led by Finance Minister Pranab Mukherjee at the moment evaluated general economic situation in the light of steep rate increase by RBI.

IOC increases USD 500 million via foreign bonds

Indian Oil Corporation (IOC), a firm owned by the state, has effectively collected $ 500 million via a foreign bonds issue to support its capital needs.

Toyota to increase aptitude to 3.1 lakh units in India by 2013

Passenger car manufacturer Toyota Kirloskar Motor (TKM) aims to put in more or less Rs 898 crore to augment its production aptitude to 3.10 lakh units per year by 2013.

TCS, Wipro in pursuit for Tirupati temple venture

TCS and Wipro are one of the three firms contending to acquire the prominent Sri Seva Venture f the Tirumala Tirupati Devasthanam (TTD) to give IT solutions that will assist devotees.

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BSE Sensex slides 1.87% as market slumps again

The BSE Sensex fell 353.07 points or 1.87% to settle at 18,518.22, its lowest closing level since 21 July 2011. The index slumped 389.66 points at the day's low of 18,481.63 in late trade. The Sensex rose 73.31 points at the day's high of 18,944.60 in early trade, its highest level since 8 July 2011.

The S&P CNX Nifty fell 105.45 points or 1.86% to 5,574.85, its lowest closing level since 21 July 2011. The Nifty hit a low of 5,560.15 in intraday trade. The Nifty hit high of 5,702.25 in intraday trade, its highest level since 8 July 2011.

The BSE Mid-Cap index fell 1.01% and the BSE Small-Cap index fell 0.80%. Both these indices outperformed the Sensex.

BSE clocked a turnover of Rs 2871 crore compared with a turnover of Rs 2899.08 on Monday, 25 July 2011.

Market Breadth:

Positive 1000 Negative 1887 Unchanged 117
From the 30 share Sensex pack, 29 fell and rest rose.

Invest to L&T; Finance IPO, Mehta Equities says

The initial public offering of L&T Finance Holding (LFHL), a subsidiary of engineering and construction firm L&T, will launch for investment on July 27. Mehta Equities has suggested shareholders to invest the issue, inBS its study account.

Walt Disney offers to acquire UTV software private

Walt Disney Corporation, the biggest investor in UTV Software Communications Limited, has offered to purchase most of the shares it doesn’t by now posses in the firm, which has a market value of $ 826 million, and delist them from the whole bourses.

Glenmark obtains $ 15 million facility innovation advance from Salix

Glenmark Pharmaceuticals at the moment has told that it has obtained $15 million (more than Rs 65 crore) from Salix Pharmaceuticals Inc, USA, as compensation to innovate its facility for output of Crofelemer, use for curing diarrhea.

Home, auto loans smidgen as RBI tense up guidelines, Bankers say

Reserve Bank’s verdict to increase key rates for the third time in the recent fiscal would make home, auto and corporate loans costly by equal to 50 basis points, blazing another hole on the pocket of the customer previously fraught with lofty inflation.

CAG in process of settling accounts on KG-D6 gas fields

Administration auditor CAG at the moment has told it is in the process of settling its account on Reliance Industries ‘KG-D6 gas fields.

MCHI to banks: Please take up this hike, don’t send it off

Making its concern be heard for home buyers, Maharashtra Chamber of Housing Industry (MCHI), the voice of the real estate industry, has uttered the apprehension that the RBI shift to raise the repo rate by a large 50 bps will unfavorably affect the business.

India attracts overseas shareholders in infrastructure

Attracting shareholders from South Korea and other nations into the infrastructure sector, President Pratibha Patil at the moment has told that almost $ 1 trillion will be compensated in the coming years to develop India’s roads, ports, railways, and other core sectors.

Indo-Swiss DTAA might be prepared by end of 2011, Pranab says

The protocol approved by India and Switzerland to change their existing Double Taxation Avoidance Agreement so as to assist information sharing on black money put aside in Swiss banks may come into power by the end of this year, according to Finance Minister Pranab Mukherjee.

RBI’s 50 bps rate increase to make loans costly

The RBI at the moment increased short-term lending and borrowing rates piercingly by 50 basis points for the third time in three months to tame lofty inflation, an action that would make the whole personal and corporate loans pricier.

Karbonn finalizing schemes to collect USD 125 million from PE shareholders

Homegrown mobile handset firm Karbonn aims to collect more or less $ 125 million in the following months via private equity (PE) players to fund development schemes.

Record India M & A financing extends reach and debt heights

Strengthened by the banks presenting record amounts of loans for occupations, Indian firms are implementing huge schemes and bigger menace in the midst of weighty supply demand and unsteady economic picture.

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BSE Sensex expands 0.80% as market remains upbeat

The BSE Sensex rose 148.99 points or 0.80% to 18,871.29, its highest closing level since 7 July 2011. The Sensex jumped 209.97 points at the day's high of 18,932.27 in mid-afternoon trade. The index fell 51.46 points at the day's low of 18,670.84 in early trade.

The S&P CNX Nifty rose 46.35 points or 0.82% to 5,680.30, its highest closing level since 7 July 2011. The Nifty hit high of 5,700.55 in intraday trade.

The BSE Mid-Cap index was up 0.49% and the BSE Small-Cap index was up 0.50%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2957 crore, lower than Rs 3187.31 crore on Friday, 22 July 2011.

Market Breadth:

Positive 1609 Negative 1274 Unchanged 121
From the 30 share Sensex pack, 24 rose and rest fell.

Goodwill Hospital obtains nod from SEBI for public issue

Goodwill Hospital and Research Centre Limited, connected in running a multi-specialty hospital at Noida under the label Ojjus Medicare, has obtained final observation from SEBI for the initial public offer (IPO) aggregating to Rs 62 crore, according to the statement of the firm.

Dispute on Rs 15-20 crore expenses: IRB Infra on I-T raid

Toll-road builder, IRB Infrastructure was having a home run along with conjecture-beating June period outcome of 13 percent increase in net profit. Toting up to this, the news of the firm winning the ahmedabad-Vadodara six-lane venture has conveyed the management into triumph.

Credit substitutes: Yes Bank’s fresh scheme for asset development

Private sector lender Yes Bank is aiming on credit substitutes, a type of lending in which the bank subscribes to non-convertible debenture or corporate bond ties of rated firms. The bank has invested 50 percent to Tata Power’s Rs 1,500 crore private placements via NCD issue in June.

Shriram City Union Finance submits DRHP for NCD issue

Shriram City Union Finance, one of the nation’s foremost deposit-accepting NBFC registered with RBI, has submitted a draft prospectus with the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE) for a public issue of secured non-convertible debentures of face value of Rs 1,000 each, (NCDs), collecting up to Rs 37,500 lakh with a preference to maintain over-subscription up to Rs 37,500 lakh for issuance of extra NCDs collecting to a sum of equal to Rs 75,000 lakh.

Suzlon to market 26 percent in unit Hansen

Germany’s ZF Friedrichshafen AG is to purchase Hansen Transmissions in Belgium, which manufactures gearboxes for wind turbines, for $ 725.5 million to merge its position in the market for wind power.

RBI is expected to increase rates by 25 bps, according to I-Sec PD

As the interest rate hike in July is projected by a large majority, opinion is separated about what will happen subsequently. 55 percent of the survey projected the RBI to increase the repo rate by one more 25 basis points following the July 26 rate hike, as 45 percent told that they don’t anticipate the central bank to augment rates more in Fiscal Year 2012.

Suzlon concurs to sell 26 percent venture in Belgium wing

Suzlon Energy has approved a deal to sell its 26.06 percent equity interest in Hansen Transmissions International NV, Belgium. ZF International, its joint venture associate, has provided to purchase the 100 percent in Hansen for 445 million pounds.

Edserv to collect USD 35 million for opening out; increases profit outlook

Education services provider Edserv Softsystems has told on Monday its board has commended collect up to $ 35 million via global depositary receipts to fund development, conveying its shares up to over 3 percent.

L&T; obtains $ 273 million venture in Qatar

Indian engineering and construction corporation Larsen & Toubro Limited (L&T), has obtained a major order worth $ 273 million from Qatar General Electricity & Water Corporation (Kahramaa) for the supply and construction of 13 extra high voltage (EHV) sub-stations in Qatar.

Indians have more than USD 2.5 billion in Swiss banks

It’s now verified that Indians have more or less $ 2.5 billion (about Rs 11,000 crore) in Swiss banks, although this amount of Switzerland’s central bank may be a gross sarcasm of the entire possessions directly and indirectly seized there by entities from India.

Religare Capital acquires majority venture in South Africa’s Noah

Religare Capital Markets (RCML), the investment banking and industrial equities wing of Religare Enterprises, has bought a majority venture in Noah Financial Innovation (Proprietary) Limited, a domestic broker in South Africa.

BSE Sensex rises 1.55% as market closes in a strong note

The BSE Sensex was up 286.11 points or 1.55% to 18,722.30, its highest closing level since 8 July 2011. The Sensex jumped 310.87 points at the day's high of 18,747.06 in late trade. The index rose 97.24 points at the day's low of 18,533.43 in early trade.

The S&P CNX Nifty was up 92.35 points or 1.67% to 5,633.95, its highest closing level since 8 July 2011. The Nifty hit a high of 5,642.20 in intraday trade.

The BSE Mid-Cap index was up 1.25% and the BSE Small-Cap index rose 0.82%. Both these indices underperformed the Sensex.

The total turnover on BSE amounted to Rs 3187.31 crore, higher than Thursday's turnover of Rs 2718 crore.

Market Breadth:

Positive 1715 Negative 1250 Unchanged 121
From the 30 share Sensex pack, 26 rose and rest fell.

Inventure Growth IPO invested four times

The initial public offering of Inventure Growth and Securities, a broking company in Mumbai, has invested four times, as per data on hand on National Stock Exchange.

TML moved to Gujarat from Singur due to law and order

The Tata Motors limited at the moment has told that the Calcutta High Court law and order predicaments at singur had provoked it to move its suggested Nano car facility to Gujarat and could not be alleged by West Bengal administration of deserting the project.

GlaxoSmithKline Pharmaceuticals starts in 2 drugs in India

Yearly output aptitude of nation’s biggest car manufacturer Maruti would reach 17.5 units in the following two years, according to a company representative at the moment.

India steel production at 35.6 million ton in Jan-June 1/10th of China

India’s steel manufacturing in the first six months of the recent year set at 35.636 million ton, nearly one-tenth of neighboring China’s total production in the same quarter.

Vodafone India 1st period returns increase 9 percent to 1.03 billion pounds

Vodafone Group in UK at the moment has told that it s Indian unit Vodafone India accounted increase of almost 9 percent profits to 1.03 billion pounds in the 1st period that closed on June 30, 2011, motivated by a growth in its customer base.

Two Cinemax endorsers cancel 35.8 lakh shares in July

Film exhibitor Cinemax india at the moment has told that two of its endorsers canceled 35.80 lakh pledged shares, which is equal to 12.79 percent venture in the firm this month.

Administration to cash in Rs 6945 crore fertilizer ties

The administration will cash in the outstanding fertilizer ties worth Rs 6,945 crore from fertilizer firms at a discount and pay off for 50 percent of their losses.

MS Rana arrange to take over as NMDCC’s Chairman and Managing Director

MS Rana, recently the Chairman and Managing Director (CMD) of Security Printing and Minting Corporation of India, has arranged to take over at the controls of issues of NMDC, a company run by the state.

Administration might limit quantity of subsidied LPG cylinders

The administration at the moment may soon limit the quantity of subsidized LPG cylinders, according to accounts. The Finance Ministry and the Oil Ministry is eager to limit the quantity of subsidized LPG cylinders at 4 - 6 within a year.

No GSPCB permission under Air, Water Act for Sesa Goa mine

Sesa Goa, a subsidiary of Vedanta Resources at the moment confessed that permission was not given under the Air and Water (Prevention and Control Pollution) Act for its mine at Mulgao village, whose tailing wall fell down in the previous week, flooding some fields.

Trent in agreement with Inditex for Massimo Dutti stores

Tata Group retail chain Trent has approved a memorandum of understanding with Spain’s Inditex group to innovate and market Massimo Dutti stores in India.

3i Infotech, Coromandel International, Info Edge India, Hindustan Zinc declared results today

3i Infotech
Net profit was down at Rs 46 crore versus Rs 61.2 crore
Net sales were down at Rs 479 crore versus Rs 637 crore

Coromandel International
Net profit was up at Rs 159 crore versus Rs 120 crore
Net sales were up at Rs 1,790 crore versus Rs 1,549 crore

Mahindra Lifespace Developers
Net profit was up at Rs 17.1 crore versus Rs 14.5 crore
Net sales were up at Rs 81.4 crore versus Rs 67.9 crore

Info Edge India
Net profit was down at Rs 25.6 crore versus Rs 26.9 crore
Net sales were up at Rs 86.7 crore versus Rs 81.5 crore

YES BANK
Net profit was up at Rs 216 crore versus Rs 156.4 crore

Hindustan Zinc
Net profit was up at Rs 1,495 crore versus Rs 891 crore
Net sales were up at Rs 2,821 crore versus Rs 1,951 crore

Hero Honda Motors
Net profit was at Rs 557.89 crore

Noida Toll Bridge Company
Net profit was up at Rs 11.4 crore versus Rs 10.1 crore
Net sales were up at Rs 21.2 crore versus Rs 21.1 crore

Hyderabad Industries
Net profit was down at Rs 25 crore versus Rs 28 crore
Net sales were up at Rs 248 crore versus Rs 216 crore

Zensar Technologies
Net profit was at Rs 43.5 crore
Net sales were down at Rs 550 crore versus Rs 560 crore

BSE Sensex dips 0.36% as market still plunges

The BSE Sensex fell 66.19 points or 0.36% to 18,436.19, its lowest closing level since 12 July 2011. The Sensex rose 64.61 points at the day's high of 18,566.99 in morning trade. The index fell 87.02 points at the day's low of 18,415.36 in late trade.

The S&P CNX Nifty fell 25.45 points or 0.46% to 5,541.60, its lowest level since 12 July 2011. The Nifty hit low of 5,532.70 in intraday trade.

The BSE Mid-Cap index was down 0.43% and the BSE Small-Cap index was down 0.45%. Both the indices underperformed the Sensex.

BSE clocked turnover of Rs 2705 crore, lower than Rs 3165.65 crore on Wednesday, 20 July 2011.

Market Breadth:

Positive 1187 Negative 1643 Unchanged 127
From the 30 share Sensex pack, 21 fell and rest rose.

PME Power submits draft papers for initial public offer

Transformer manufacturer PME Power Solutions at the moment submitted preliminary papers with market watchdog Sebi for an initial share sale, through which the company is likely to augment up to Rs 300 crore.

‘Gems, jewellery marketing size to tap Rs 2.13 lakh crore by 2015

The mass of the Indian gems and jewellery market is likely to tap Rs 2.13 lakh crore by 2015 on the rear of augmenting local demand, according to Assocham at the moment.

Coal India to compensate Rs 30k on development in 12th Plan

Mining giant Coal India (CIL), which is run by the state, at the moment, told that it aims to invest more or less Rs 30,000 crore to increase its aptitude more than the next five years and the funds will be compensated on new mining ventures, washeries, machinery and equipment.

Monsoon rains 7 percent higher than average in past week

The nation’s decisive monsoon rains were 7 percent higher than the average in the week to July 20, rising up from more or less a fifth lower than normal in the preceding week, according to the weather office on Thursday.

Two Indian refiners aren’t going to acquire Iran oil in August

Two Indian refiners aren’t going to acquire crude from Iran in August, according to the sources at the two firms on Thursday, following Tehran notified that it would discontinue supplies while great debts in a long-running compensation issue grow to more than $ 5 billion.

Yes Bank to collect USD 300 - 400 million in 2012

Private sector lender Yes bank aims to collect $ 300 - 400 million in Tier-I capital in 2012, according to Chief Executive Rana Kapoor in Thursday.

Conscription in small towns on upswing in April-June

A positive inclination of conscription was seen in minor municipalities and mini-metros in the April-June quarter of 2011 on the rear of augmented hiring in sectors like engineering and manufacturing, according to the survey.

Food inflation falls to 7.58 percent for week closing on July 9

Food price increase plunged to a three-week low of 7.58 percent for the week that closed July 9 on the rear of more inexpensive pulse costs and a high base in the previous year.

Macquarie slashes Wipro to ‘neutral’

Macquarie has relegated Wipro to ‘neutral’ from ‘outperform’ telling that the No.3 software services exporter in the nation will keep on to wrap peers in the following two or three periods.

No land sale at the moment, TTK Healthcare explains

News of land acquisition by TTK Healthcare created the stock buzz on the radar at the moment. Launching at Rs 608, the stock tanked to Rs 580 by noon.

Administration may keep away from diesel hike in 2011

India is not expected to risk increasing, or even deregulating, diesel prices once more this year, letting demand to develop, as concern on inflation and state elections conceal the necessity to slash expenditure and keep rate along with international oil costs.

BSE Sensex slumps 0.81% on gloomy trading day

The BSE Sensex was down 151.49 points or 0.81% to 18,502.38, its lowest closing level since 12 July 2011. The index fell 179.97 points at the day's low of 18,473.90 in mid-afternoon trade. The Sensex jumped 111.73 points at the day's high of 18,765.60 in early trade, its highest level since 15 July 2011.

The S&P CNX Nifty was down 46.50 points or 0.83% to 5,567.05, its lowest closing level since 18 July 2011. The Nifty hit a low of 5,555.10 in intraday trade. The Nifty hit a high of 5,645.40 in intraday trade, its highest level since 14 July 2011.

The BSE Mid-Cap index fell 0.88% and underperformed the Sensex. The BSE Small-Cap index shed 0.36% and outperformed the Sensex.

BSE clocked turnover of Rs 3149 crore, higher than Rs 2863.12 crore on Tuesday, 19 July 2011.

Market Breadth:

Positive 1197 Negative 1710 Unchanged 119
From the 30 share Sensex pack, 26 fell and rest rose.

Inventure Growth IPO launches for investment

Inventure Growth and Securities, a broking company in Mumbai, has launched its initial public offering of 70 lakh equity shares of Rs 10 each for investment at the moment, a strength of 33.33 percent venture.

Cairn India might allow conditions for Vedanta contract

In primary indications that Cairn India may do a forward roll so that its parent Cairn energy Plc can market venture to Vedanta Resources, the firm has gone quiet on the administration’s provisos that it had until now been resentfully complaining.

Indian poultry business requires rising up the expansion, ICRA says

The Indian poultry business must raise expansion to achieve towering local demand for broiler meat, which is likely to increase at more or less 18 percent on the medium-to-long term, according to international credit agency ICRA.

HSBC terminate foreign a/cs services for US clients

Under the inspection of the US authorities for its tax-evading clients, financial services giant HSBC has told that it will strengthen bonds with hundreds of its wealthy American clients, as well as those of clients from India, who have accounts in foreign places.

Citigroup capital markets chief to join Morgan Stanley in India, IFR says

Citigroup’s India equity capital markets chief, Vikas Khattar, has quit from the US bank to join Morgan Stanley in India, according to IFR on Wednesday.

RBI witnessed increasing repo rate once more in July

The Reserve Bank of India (RBI) is likely to increase its key policy rate by an additional 25 basis points in the following week subsequent to the inflation accelerated in June and may increase again by the end of the year, prior to the suspension of its long tapering crusade, according to the fresh survey being shown.

DoT might sell BWA spectrum almost immediately

Stressed from the Finance Ministry to sell broadband spectrum as soon as possible, the Department of Telecom at the moment has told that it was making its action on the same, although it did not spell out any timeline to promote propositions.

Pratibha India aims infra orders in Middle East, SAARC

Pratibha Industries Limited is surveying for engineering, procurement and construction (EPC) bonds in the Middle East and SAARC countries, and the construction and Infrastructure Company has proffer for foreign ventures worth Rs 1,000 crore, according to a prominent representative.

L&T; gets Rs 1,210 crore electrical purchase in Qatar

Larsen & Toubro’s power transmission and distribution wing has acquired purchase worth Rs 1,210 crore from Qatar General Electricity & Water Corporation for supply and construction of thirteen additional high voltage substations in the West Asian nation.

Piramal Healthcare in discussion to purchase venture in ING Life

Drug manufacturer Piramal Healthcare is in discussions to purchase Enam Financial‘s venture in ING Life Insurance, according to the report on Wednesday.

Vodafone in discussions with PE funds to market venture in India unit

British mobile operator Vodafone is in discussions with no less than two private equity funds to market a venture in its India operations, according to an account, citing an anonymous individual associated with the matter.

Jindal Power Limited IPO start in can be projected around October

The much anticipated initial public offer of Jindal Power Limited, which is headed by Navin Jindal, that is likely to gather in equal to Rs 7,000 crore, may strike capital market approximately in October this year, according to source close to the development.

Uranium discovery in India could be the globe’s biggest

An immense deposit of uranium discovered in Andhra Pradesh could become one of the biggest reserves of the mineral in the planet, according to accounts on Tuesday quoting the head of the nation’s atomic energy department.

LDF shows protest against Kerala Assembly over rubber import

LDF opposition led by CPI (M) protested against the Kerala Assembly at the moment claiming the Centre’s verdict to import natural rubber, in disagreement that the action would direct into a jagged plunge in price of local produce and strike 12 lakh in Kerala, nation’s biggest rubber manufacturer.

Daimler AG ventures into financial services space

Daimler AG, a firm based in Germany, at the moment ventured into the financial space in India with the institution of a fresh Daimler Financial Services subsidiary in the nation.

LIC’s market reserves to surpass Rs 2 lakh crore in Fiscal Year 2012

In the latest development, the nation’s biggest insurer LIC has told that its entire investments in the market will surpass Rs 2 lakh crores this fiscal.

Finance Ministry in development of amending policies to test out money laundering

Dedicated to the full execution of international standards to fight money laundering and terror financing, India has told that it was creating appropriate revisions to meet the nation’s existing policies together with the commendations of the international Financial Action Task Force.

India entails anti-dumping duty on Japanese, Chinese gas

India has entailed anti-dumping contractual obligation of equal to $ 1,41 per kg on imports of gas, utilized mainly for refrigeration function, to look after local players from inexpensive Chinese and Japanese shipments.

US firms can explore business prospects in India’s infra space

American firms can explore business prospects in the India infrastructure sector, which is likely to see a $ 1 trillion investment in the 2012 - 17 periods, according to a senior US administration representative.

Oberoi Realty’s agreement to purchase Centaur Hotel canceled

Obero Relaty Limited has told on Tuesday that a transaction approved by its joint venture partner Siddhivinayak Realties Private Limtied (SRPL) with V Hotels Limited to acquire a hotel property in Mumbai has been canceled.

Edserv approves new agreement to develop CA coaching services

Edserv Softsystems has told on Tuesday that it has came into a joint venture with CAClubIndia which will assist the education services firm provide its CA coaching content to more or less 600,000 students.

OPIC to endow equal to USD 820 million in India’s renewable energy

A financial entity Overseas Private Investment Corporation (OPIC), which is owned by tg US administration, aims to endow equal to $ 820 million (more or less Rs 3,600 crore) in the Indian renewable energy sector by the end of 2011 which is said to be increasing faster.

RPP Infra submits initial norms for Indonesian power venture

RPP Infra Projects has submitted pre-qualification norms for the Mamuju IPP power venture in Indonesia via its conglomerate with Truba Manunggal Power and M/S Energy Ventures.

ING Vysya Bank, BOC India, Yashraj Containeurs, Steel Strips Wheels declared results today

ING Vysya Bank
Net profit was up at Rs 94 crore versus Rs 69.1 crore

BOC India
Net profit was up at Rs 26.9 crore versus Rs 24.2 crore
Net sales were up at Rs 250 crore versus Rs 248 crore

Yashraj Containeurs
Net profit was up at Rs 0.89 crore versus Rs 1.01 crore
Net sales were down at Rs 31.65 crore versus Rs 35.53 crore

SP Capital Financing
Net profit was down at Rs 0.04 crore versus Rs 0.11 crore
Net sales were up at Rs 1.21 crore versus Rs 1.18 crore

Jay Bharat Maruti
Net profit was up at Rs 5.53 crore versus Rs 5.52 crore
Net sales were down at Rs 260.19 crore versus Rs 224.79 crore

Development Credit Bank
Net profit was at Rs 8.83 crore

Electrosteel Steels
Net profit was down at Rs 27.9 crore versus Rs 30 crore
Net sales were up at Rs 419 crore versus Rs 360 crore

BASF India
Net profit was up at Rs 52.7 crore versus Rs 48.8 crore
Net sales were up at Rs 1,014 crore versus Rs 659 crore

Indo Rama Synthetics (India)
Net profit was at Rs 51 crore
Net sales were at Rs 621 crore

Steel Strips Wheels
Net profit was up at Rs 11.5 crore versus Rs 7.2 crore
Net sales were up at Rs 229 crore versus Rs 148 crore

Ind Eco Ventures submits DRHP for Rs 105 crore IPO

Renewable energy-based power generation firm Ind Eco Ventures submitted draft red herring prospectus with the market watchdog for public issue of Rs 105 crore.

GVK, Hancock lengthen deadline on mine transaction once more

GVK Power and Infrastructure and Australia’s Hancock Prospecting have lengthened the deadline once more for restricted discussions on two Australian coal mines to the end of August while the two parties hold opposing views on appraisal.

Mukta arts opens complex, aims 100 films by 2012

Film producer Sabhash Ghai’s Mukta Arts has ventured into the multiplex industry under the label ‘Mukta A2 Cinemas’ with the first one started in at Vadodra in Gujarat on Friday.

Court permits CBI to cross-examine A Raja, 2 others in 2G case

A Delhi court at the moment permitted CBI to cross-examine once more past Telecom Minister A Raja and two other alleged in the 2G case in the Patiala House court complex.

Peguform transaction valued at 141.5 million euros, Motherson Sumi says

Auto component manufacturer Motherson Sumi Systems has told on Monday that the transaction to acquire a majority venture in Germany’s Peguform Group was valued at 141.5 million euros with the company’s share at 72.27 million euros.

Polaris, Bangladesh banks to come into Joint Venture for IT solutions

IT company Polaris Software at the moment has told that it has come into a MoU with two banks based in Bangladesh to create a joint venture firm, which will supply software solutions to both the financial establishments.

Australian milk processors targeting Indian market

Australian milk processing firms might bring in generous revenues by marketing their merchandises in India which is said to be in front of scarcities of equal to 3 million tonnes annually.

iGate Patni obtains $ 30 million IT transaction from US company

IT company iGate Patni at the moment has told that it has obtained a transaction worth $ 30 million (more or less Rs 133 crore) from Weyerhaeuser NR in the US to supply and supervise IT infrastructure service operations.

Price increase because of erroneous economic guidelines of Centre, CPI says

The “wrong economic policies” of the UPA administration were to be held responsible for the “unbearable” price increase of different merchandises, according to CPI State Secretary D Pandian.

Rolta India gets hold of public safety company

IT software merchandise producer Rolta india at the moment has told that it has purchased ACLS Systems, FZC, via a whole asset acquirement.

Venky’s to use up Rs 107 crore on capacity development

Poultry processor Venky’s India aims to use up more or less Rs 107 crore to develop and innovate aptitudes at its facilities and launch fresh retail branches.

Aureos Capital aims USD 200 million India fund for tier 2 cities

Auroes Capital, an expert developing markets private equity fund, is starting in a fresh $ 200 million India fund ti endow in small and medium sized (SME) firms in tier 2 cities in India, Sri Lanka and Bangladesh, according to the pronouncement made by the firm.

Suzlon obtains Rs 650 crore purchase from Orient Green Power Corporation

India’s biggest wind turbine manufacturer Suzlon Energy at the moment has told that it has acquired an Rs 650 crore purchase from Orient Green Power Company in Chennai to provide turbines for ventures with a cumulative aptitude of more than 100 MW.

AAI yearns for ties of Rs 700 crore from bankrupt Air India

As expectations for getting payables from bankrupt Air India from anytime soon are biting dusts, Airports authority of India (AAI), which is run by the state, is aiming to request to the national carrier to issue it secure redeemable debentures adjacent to the payables of more than Rs 700 crore.

Future Ventures enhances endeavor in Indus- League Clothing

Future Venture India Limited (FVIL), Future’s Group’s investment and business management wing, at the moment has told that it has bought further 5.14 venture in Indus-League Clothing Limited (ILCL), a group of company for an unknown price.

JB Chemicals finishes sale of Russian, CIS OTC business to J&J;

JB Chemical & Pharmaceuticals Limited (JBPCL) in Mumbai at the moment has told that it has finished a Rs 939 crore agreement to market its over-the-counter (OTC) business in Russia and CIS nations to Johnson & Johnson wing Cilag GmbH International.

DB Realty Pune township scheme subsides, stock drops 2 percent

Shares of real estate company DB Realty plunged over 2 percent to Rs 81.05 following the firm’s suggested township venture in Pune got postponed after a verdict by Pimpri Chinchwad Town Development Authority (PCNTDA), a city-based local organization.

Administration chooses SBI, 3 others for USD 79 billion worker fund

India’s Rs 350,000 crore ($ 79 billion) Employee Provident Fund will be supervised by State Bank of India and the asset management units of HSBC, ICICI Bank and Reliance Capital, according to a representative from the administration.

Supreme Courts inquires Sahara to move toward SAT in opposition to SEBI’s order on OFCD

The Supreme Court at the moment guided Sahara Group India real Estate Corporation to move toward the Securities Appellate Tribunal in opposition to market watchdog SEBI’s order directing the return of cash collected from shareholders for an OFCD plan in a period of three weeks.

Aviation Ministry looks for Rs 42,000 crore for AI’s renewal scheme

According to the Civil Aviation Ministry, they are arranging to hurl for an Rs 42,000 crore assistance for a nine year long renewal scheme for Air India.

Bajaj Auto shelves mini-car scheme for Renault, Nissan

Bajaj Auto has obtained a venture to improve an inexpensive mini-car in India for Renault SA and Nissan Motor Corporation, telling that it was commercially unviable, according to the Wall Street Journal.

Suzlon obtains Rs 650 crore purchase from Orient Green Power

Suzlon Energy has obtained purchase worth Rs 650 crore from Orient Green Power Corporation in Chennai for more than 100 mega watt of wind power ventures.

Indian outsourcer Aegis to launch Manchester call center

India outsourcing firm Aegis is launching its initial European call center in Manchester, England, overturning the drift that has perceived British firms outsource customer services to India and other places in Asia.

Confident TCS witnesses price augment, margin grow in Fiscal Year 2012

Tata Consultancy Services (TCS) accounted their first period revenue which witnessed better-than-expected earnings moved by elevated expenditure by clients.

Following week’s rainfall can be a little under average, Met says

Key monsoon rains were 19 percent under average in the week to July 13, progressing from a period under normal rains in the past week, according to the weather office on Thursday.

Manappuram Finance in 10-year transformational IT agreement with IBM

Manappuram Finance, asserting to be the nation’s primary listed and highest credit rated gold loan firm, has inked a 10 year multi-national dollar agreement with IBM to alter its IT systems in support of its competitive development scheme.

SBI, 4 others chose to manage EPFO’s Rs 3.5 lakh crore

EPFO’s notice panel FIC at the moment chose five entities naming ICICI Securities, Reliance Capital, HSBC Asset Management Company (AMC), SBI and ICICI Prudential which will be managing its corpus of Rs 3.5 lakh crore.

Kannur Airport is likely to be operational by 2014

The first Greenfield International Airport in the offing with private contribution at Kannur in Kerala is likely to be operational by 2014, according to a senior minister at the moment.

McNally Bharat aims Rs 2500 crore revenue in Fiscal Year

Deepak Khaitan - Chairman, McNally Bharat Engineering in an interview talked about the monetary feat of the firm and its subsidiaries, McNally Sayaji, MBE (McNally Bharat Engineering) and CMT (Coal and Minerals Technology).

Orchid chemicals obtains USFDA approval for anti-depression capsule

Drug company Orchid Chemicals & Pharmaceuticals at the moment has told that it has obtained commendation from the US health regulator for its genetic Venlafaxine, use in the cure of depression.

LGEIL aims Rs 20,000 crore income nationwide in 2011

Top consumer electronics firm LG Electronics India Private Limited (LGEIL) is aiming an all-India sales revenue of Rs 20,000 crore this calendar year, according to a leading representative at the moment.

Kaushik Basu says he did not tip-off at rate hike gap by RBI

Chief economic adviser Kaushik Basu explained on Thursday he was not tipping-off at rate gap by the Reserve Bank of India (RBI).

June inflation elevates to 9.44 percent

Overall price increase rush forward to 9.44 percent in June from 9.06 percent in May. On a month on month (MoM) basis, primary articles inflation increased to 12.22 percent as against to 11.3 percent in the month earlier.

HCL Tech in agreement with Eli lily for developing technologies

It company HCL Technologies and pharmaceutical firm Eli Lilly at the moment came into a deal for developing technologies and enhancing operational efficiencies to improve the latter’s international competitiveness.

June inflation observed to be going faster to 9.7 percent

India’s wholesale price index most likely increased 9.7 percent in June from the previous year, speeding up its swiftness from May, on increasing food and fuel costs, according to survey.

Kinetic Concepts receives USD 5 billion takeover headed by Apax

Kinetic Concepts Inc, manufacturer of medical devices applied in wound care, concurred to a $ 5 billion cash takeover from private equity company Apax Partners and two top Canadian pension funds.

BSE Sensex glides high at 1.65% as market bounces back

The BSE Sensex jumped 184.40 points or 1% to 18,596.02, its highest closing level since 11 July 2011. The Sensex gained 214.79 points at the day's high of 18,626.41 in late trade. The index rose 53.78 points at the day's low of 18,465.40 in early trade.

The S&P CNX Nifty was up 59.30 points or 1.07% to 5,585.45, its highest closing level since 11 July 2011. The Nifty hit a high of 5,596.15 in intraday trade.

The BSE Mid-Cap index rose 1.3% and outperformed the Sensex. The BSE Small-Cap index gained 0.97% and underperformed the Sensex.

The total turnover on BSE amounted to Rs 2273 crore, lower than Rs 2848.98 crore on Tuesday, 12 July 2011.

Market Breadth:

Positive 1863 Negative 1024 Unchanged 126
From the 30 share Sensex pack, 26 rose and rest fell.

ONGC FPO not expected to hit market prior to mid-August

The much anticipated Rs 11,500 crore share sale of Oil and Natural Gas Corporation (ONGC), a firm run by the government, has been put off once more and is not expected to hit the market prior to mid-August.

Mobile payment services to make Rs 20250 crore fee proceeds

Mobile payment services, which is likely to be $ 350 billion of compensations and banking transaction by 2015, could make more or less Rs 20,250 crore as fee returns for banks and telecoms, an account by the Boston Consulting Group (BCG) said.

JSL Stainless may emerge from CDR by September 2012

Indian stainless steel manufacturer JSL Stainless is likely to emerge from its corporate debt restructuring (CDR) by September 2012, much prior to the original deadline of March 2020, as the new facility in Orissa is likely to become stable and improved proceeds, according to a top executive.

Private Equity, Venture capital endowment in education reaches $ 93 million in 2011

Private equity and venture capital shareholders have pushed $ 93 million into 10 education firms so far in 2011 and are bullish regarding the sector’s outlooks moving ahead.

India 2012 fuels order seen increasing at 3.8 percent, IEA says

India’s fuel demand may increase at 3.8 percent in 2012 topped by diesel and gasoline, according to the International Energy Agency on Wednesday, toting up a current retail price increase by Asia’s third biggest oil consumer will not knock stipulation increase in the short interim.

12.5 percent deficit in fertilizer accessibility in July

The accessibility of major fertilizers like DAP for the recent month is 12.5 percent lesser than the anticipated stipulation, at 56 lakh tones, putting more to the farmers’ anguishes in the current kharif season.

Outsourcing of PF, insurance work in SMEs unsettled

The small and medium ventures should be permitted to outsource their legal obligations like provident fund management, gratuity payments and insurance for employees to give them a chance to focus on their core venture, according to the proposal made by the Industry Ministry.

PCC intends to distribute Rs 35000 crore loans in Fiscal Year 2012

Power Finance Corporation, a firm run by the state, is intending to distribute Rs 35,000 crore worth loans in the recent fiscal, according to reports.

Administration aims 30 food parks

The Centre aims to arrange 30 food parks in different states with the goal of aiding small and medium businesses in the sector to develop, according to a senior representative of the Indian Institute of Packaging (IIP).

India’s coffee trades increase 55 percent to 40000 ton in June 2011

Propped up by strong international demand, India’s coffee trades leaped by nearly 55 percent in June this year to 40,000 tons. Shipments of the brew summed 25, 710 tons in the equivalent month in the previous year, the data made public by the Coffee Board said.

Dr Reddy’s obtains USFDA approval for deep vein thrombosis injection

Dr Reddy’s Laboratories has obtained final sanction from the US Food and Drugs Administration (FDA) to market Fondaparinux Sodium injection, which is used for the cure and prevention of deep vein thrombosis (DVT).

Glenmark Generic obtains US FDA approval for cirrhosis drug

Glenmark Generics has obtained final sanction from US Food and Drugs Administration (FDA) for its abbreviated new drug application (ANDA) for Ursodiol tablets utilized in cure of patients with primary biliary cirrhosis (PBC).

Tata Motors to begin construction on South Africa facility next week

Indian automotive giant Tata Motors will begin building a vehicle assembly facility in South Africa next week, providing the nation’s economy a huge advantage, an account said quoting “a well-placed government source”.

Sun TV promotes Vijay Kumar as CEO

Broadcasting Firm Sun TV Network at the moment has told that it has promoted its COO K Vijay Kumar to the position of the chief Executive Officer with effect from today.

Indian Bank goes into agreement with SBI Mutual Fund

In the latest development, according to the public sector Indian bank, it has come into a deal with SBI Mutual Fund to market its merchandises.

Kohinoor Foods obtain investors approval for Joint Venture with US company

Rice Exporter Kohinoor Foods (KFL) at the moment has told that the investors of the firm have commended its joint venture (JV) with spice maker McCormick in the US.

Textile Minister expects duty rollback on signature clothes in next Budget

Textiles Secretary Rita Menon at the moment uttered expectations that the 10 percent cut out duty on signature clothings would be rolled back in the following Budget.

Mansycom to promote Google’s 3D in India

Yash Birla Group firm Mansycom Consultants at the moment has told that it has joined with Google to promote and allocate the search engine giant’s premium 3-dimensional modeling software package ‘Google SketchUp’ in India.

Burned in recession, Indian banks perk up plastic push

India banks are shoving plastic once more, expecting that credit card sales will elevate revenues in a market where rivalry is sturdy, the probability is high, and the hazard is high as well.

BSE Sensex slides 1.65% as market suffers back-to-back loss

The BSE Sensex lost 309.77 points or 1.65% to settle at 18,411.62, its lowest closing level since 24 June 2011. The index lost 394.97 points at the day's low of 18,326.42 in afternoon trade. The Sensex fell 132.20 points at the day's high of 18,589.19 in mid-morning trade.

The S&P CNX Nifty was down 89.95 points or 1.6% to settle at 5,526.15, its lowest closing level since 24 June 2011 The Nifty hit a low of 5,496.95 in intraday trade.

The BSE Mid-Cap index slipped 1.09% and the BSE Small-Cap index fell 0.94%. Both these indices outperformed the Sensex

The total turnover on BSE amounted to Rs 2835 crore, higher than Monday's Rs 2249.68 crore.

All the 13-sectoral indices on BSE posted losses. The BSE PSU (down 0.32%), the BSE FMCG (down 0.33%), and the BSE Oil & Gas (down 0.36%), outperformed the Sensex. The BSE Realty (down 2.68%), the BSE IT (down 2.74%), and the BSE TecK (down 2.41%), underperformed the Sensex.

Market Breadth:

Positive 969 Negative 1880 Unchanged 120
From the 30 share Sensex pack, 28 fell and rest rose.

India compels anti-dumping duty on Chinese chemical

India has compelled anti-dumping duty of equal to $ 0.556 per kg on imports of a chemical utilized in industrial cleaning process and ceramics manufacture to guard local players from inexpensive Chinese shipments.

Bharti, IBM ink 10-year deal for IT solutions in Africa

Widening its partnership with IBM, telecom major Bharti Airtel has today granted a 10- year contract to the technology giant for giving IT solutions to its employees across 16 African nations.

Ranbaxy inks deal with Gilead for 3 generic HIV/AIDS drugs

Drug major Ranbaxy at the moment has told that it has come into a deal with US-based Gilead Sciences to produce and sell three new generic HIV/AIDS drugs in India and developing nations.

Reliance team convenes with CAG representatives

Executives of Reliance Industries at the moment held an extensive conference with CAG representatives on its showpiece KG-D6 gas fields in the Exit Conference the top auditor held as introduction to completing its account.

HUL joins with Bharti Retail to endorse plastic recycling

FMCG giant Hindustan Unilever (HUL) at the moment has told that it has joined with Bharti Retail to open a joint initiative to endorse plastic recycling among customers in the National Capital Region (NCR).

Cairn finishes 10 percent venture sale in Indian unit Vedanta

London-listed mining group Vedanta Resources has finished the primary tranche of its acquirement of Cairn Energy’s Indian subsidiary following an acquirement of a 10 percent venture for $ 1.5 billion.

Sony India perceives yearly sales development dawdling to 35 percent

Sonny India, a unit of Japan’s Sony Corp, is likely to increase in the recent fiscal year to hold back to 35 percent as against with a 46 percent increase in the previous year, according to a prominent representative on Tuesday.

Woodland to provide Rs 100 crore to arrange facility, new stores

Footwear and apparel brand Woodland at the moment has told that it will provide more than Rs 100 crore in the fiscal to arrange a new production unit at Greater Noida and launch go additional new stores in the nation.

Crisil opens gilt index, aims corporate ties index as well

Rating agency Crisil on Tuesday opened a gilt index that will gauge the performance of administration securities. The gilt index will give market constituents a practical and straightforwardly accessible benchmark to analyze and determine the performance of sovereign assets.

Korean firm to arrange power equipment making unit in Chennai

South Korean power equipment manufacturer Doosan will arrange a power equipment production unit at Chennai, in Tamil Nadu, according to Power Minister Sushilkumar Shinde.

May industrial production progress ‘not encouraging’ FM tells

Finance Minister Pranab Mukherjee told that the industrial production in May was “not encouraging”. He told that one needs to mull over the quarterly statures in its place of the monthly stature.

Bumpy atmospheres further on for Kingfisher, leasing schemes interrupted

Kingfisher Airlines is in for a jarring flight even as its shares discovered a few takers due to lesser crude costs. The UB Group-owned airline is seeing it hard to obtain aircraft on charter because of its debt ridden balance sheet, according to sources.

Infosys to employ 12,000 people in 2nd period; 45,000 in Fiscal Year 2012

Sustaining the employment impetus, the nation’s second biggest software exporter Infosys at the moment has told that it will employ more or less 12,000 people in this period. The firm recently has more than 1.33 lakh employees.

Level playing ground, no politics in defense agreement, Antony says

Guaranteeing a level playing ground for all companies in defense agreement, Defense Minister A K Antony at the moment requested them to cease from crooked practices and prohibited any inquiries of political meddling in military acquirement.

Insurance plan for rubber tappers opened

In the latest development, the Rubber Board has opened a group life insurance-cum-terminal benefit plan for tappers working in the small holding company.

Administration allocates 50 acres of land to Eicher Motors for Development

The Tamil Nadu administration at the moment has allocated 50 acres of land at Oragadam SIPCOT Industrial Park, close to Chennai, to the two-wheeler maker, Eicher Motors Limited for its suggested expansion schemes.

May industrial progress delays to 5.6 percent YoY

Industrial progress has delayed in May. Index of Industrial Production (IIP) has entered at 5.6 percent on a year-on-year basis. On the other hand, May IIP was likely to be at 8.6 percent the report said.

RMW teams up Digital Domain for studios in Mumbai, London

Anil Ambani-led Reliance Mediaworks at the moment has told that it has joined with Los Angeles-based Digital Domain Production for visual effects and 3D Stereo Production services studios in Mumbai and London.

Promoters of 125 firms in front of threat of losing power

Promoters as many as 125 big and small firms have vowed more than 75 percent of their holdings, the recent data available with the exchanges said.

BSE Sensex plunges 0.72% as market slumps on week’s opening session

The BSE Sensex shed 136.65 points or 0.72% to settle at 18,721.39, its lowest closing level since 29 June 2011. The Sensex fell 14.07 points at the day's high of 18,843.97 in early trade. The index slipped 178.55 points at the day's low of 18,679.49 in late trade.

The S&P CNX Nifty was down 44.55 points or 0.79% to 5,616.10, its lowest closing level since 29 June 2011. The Nifty hit a low of 5,601.70 in intraday trade.

The total turnover on BSE amounted to Rs 2236 crore, lower than Friday's turnover of Rs 3214.40 crore.

The BSE Mid-Cap index slipped 0.31% and the BSE Small-Cap index fell 0.42%. Both these indices outperformed the Sensex

Among the 13-sectoral indices on BSE, 10 declined while three gained. The BSE FMCG (up 0.52%), the BSE Consumer Durables (up 0.5%), and the BSE Oil & Gas (up 0.13%), outperformed the Sensex. The BSE Realty (down 2.54%), the BSE IT (down 1.73%), and the BSE TecK (down 1.58%), underperformed the Sensex.

Market Breadth:

Positive 1324 Negative 1568 Unchanged 120
From the 30 share Sensex pack, 23 fell and rest rose.

Bharitya Global Infomedia IPO launches for subscription

Bharatiya Global Infomedia has launched its initial public offering of 67.2 lakh equity shares of Rs 10 each for subscription at the moment.

Fall in merchant rates won’t hit Fiscal Year 2012 trades, Nava Bharat says

Due to a turn down in merchant rates, Nava Bharat Ventures accounted Q1FY12 insights at Rs 4, PJV Sarma, Director of the firm sayd, the decline in insights will be more or less 25-30 percent for Fiscal Year 2012.

Mahindra not to obtain Scooters India today, Pawan Goenka

Auto major Mahindra & Mahindra at the moment has told that it has deemed not to obtain the more than 95 percent venture in the besieged PSU Company Scooters India at the moment, as it has “various things” to do.

Son-rise at DLF, but from the side of the daughter

A fresh next-generation constituent from its founding family has joined the nation’s biggest real estate group DLF, but Rahul Talwar, which is a grandson of Chairman K P Singh, would start his voyage as a ‘trainee’.

19 Kolkata companies under I-T scanner for financing Kalaignar

The money track in the 2G telecom spectrum scam has led the Income Tax department to 19 “non-genuine” firms in Kolkata purportedly used by Kalaignar TV to bring back Rs 230 crore to Cineyug, taken as “loan”, following an investigation was initiated into it.

Mine Ministry brings up launching mineral-rich areas to private sector

With private sector compensating on exploration of products such as gold and diamonds bolted at an inadequate 1 billion on the following five years, a Mines Ministry panel has chosen opening up all mineral-bearing areas, except for receptive zones, to entrepreneurs.

To increase funds will take QIP route, Kavveri Telecom says

Kavveri Telecom has accounted its first period outcomes of Fiscal Year 2012. The firm did a net profit of Rs 8.3 crore in the initial period of Fiscal Year 2012 and a progress of 63 percent on Rs 5.1 crore in the same quarter last year.

Essar to lock up Vadinar refinery from Sept 18

Essar Oil aims to lock up its 280,000 barrels per day (bpd) Vadinar refinery in Gujarat from September 18 for 35 days for an overhaul and enhanced, according to two sources familiar with the arrangement on Monday.

Mindlance puts in 100 additional clients in six months

Mindlance, an IT infrastructure service provider in US, with its India headquarters at Bangalore, at the moment declared that it has put in 100 additional clients in India in the last six months.

NIIT obtains multi-million pound contract from Eurostar

Indian IT firm NIIT Technologies Limited at the moment declared it has obtained a multi-million pound deal from UK-based high-speed passenger service provider Eurostar to give infrastructure management services for its core business applications.

Orchid chemicals plant obtains closure notice; shares decline

Drug manufacturer Orchid Chemicals & Pharmaceuticals told on Monday that its active pharmaceutical ingredients (APIs) making facility obtained a closure notice about removal of solid waste, pushing its shared down more than 5 percent.

SC not to get in the way in framing of mining policies in Karnataka

The Supreme Court at the moment declined to get in the way in the Karnataka administration’s verdict to frame policies to put off illegal mining in the state.

Auto sector witnessed increasing 11-13 percent in Fiscal Year 2012, Pawan Goenka says

India’s automobile business is likely to increase 11 to 13 percent in the financial year closing next March, according to Pawan Goenka, president of industry body Society of Indian Automobile Manufacturers (SIAM) on Monday.

Lupin seeks to increase 25 percent in Fiscal Year 2012, to even out 100 merchandises

Lupin, which has been a scorching choice among market specialists, is becoming pushy. The drug firm is aiming to open more or less 100 additional products in the following two to three years.

June care sales most sluggish in over 2 years

Car sales in India increased 1.6 percent in June, their most sluggish pace of progress in over two years, as growing interest rates, fuel costs and vehicle prices contracted demand in the globe’s second-quickest rising auto market.

Canada Company consigns USD 10 million for Jordan-India fertilizer facility

Cordiant Capital, a fund manager in Montreal that specializes in loans to private borrowers in emerging markets, has consigned a $ 10 million loan to Jordan-India Fertilizer Firm ‘JIFCO’.

Local car sales increase 1.62 percent, bikes 14.97 percent in June

Local passenger car sales increased by 1.62 percent to 1, 43, 370 units in June, 2011, from 1, 41, 087 units in the identical month of the previous year.

Transformers’ international box office hits USD 645 million

Big-budget action movie “Transformers: Dark of the Moon” won the clash of the box office for the second consecutive weekend, making $ 140 million in global ticket sales and approaching its international total since its first appearance to $ 645 million, according to studio estimates showed on Sunday.

Core Projects may purchase Andheri office space Rs 350 crore

Core Projects and Technologies in Mumbai is in discussions with plastic goods manufacturer Supreme Industries to acquire the last’s office assets in Mumbai for more or less 3.5 billion (Rs 350 crore), Business Standard accounted on Monday.

VJonDalalStreet IPO Alerts

  IPO Alert (Detailed IPO Analysis with Grey Market Premium)

Company Name		Opens		Closes		Price Rs		Issue Size
Bharatiya Global Infomedia Ltd		Jul 11, 2011		Jul 14, 2011		75.0 - 82.0		Rs 50.4 Cr.
Public issue of 67,20,000 equity shares of Rs. 10/- each for cash at a price of Rs. [*] per equity share, aggregating Rs. [*] crores (The "Issue"). The issue would constitute 42.42% of the fully diluted post issue paid-up capital of the company. Price band: Rs. 75 to Rs. 82 per equity share of face value of Rs. 10/- each The issue price is 7.5 times the face value at the lower end of the price band and 8.2 times the face value at the higher end of the price band

 

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