Ministry recommends to supply Rs 33,000 crore to Air India

The aviation ministry has made a recommendation to supply Rs 33,000 crore to subsidized Air India until 2017 which is a portion of the 12th Five-Year Plan of the state admin.

Print media expanding at 10% annually

In the latest development, according to the Secretary of Information and Broadcasting, Uday Verma, the print media was witnessed expanding in the last several years at a yearly rate of 10%.

Rs 400 billion to be borrowed by India says RBI

India is set to borrow another Rs 400 billion by means of dated securities in the present financial year that will conclude in March 2012, according to the RBI this Friday.

SREI Infra to launch Rs 300 crore infra bond issue

In the latest development, the SIFL or SREI Infrastructure Finance, announced that the firm’s retail infrastructure bond issue worth Rs 300 crore is set to be introduced in the market this day.

MMRDA eyes Rs 1,512 crore road network ventures

Dilip Kawathkar, the joint project director of MMRDA or Mumbai Metropolitan Region Development Authority, announced that they have been aiming to develop a road network with a distance of 26 kilometers valued at Rs 1,512 crore in order to lessen the traffic jam in the metropolitan.

Volvo India eyes 30-60% growth

As the president of Volvo Buses, Hakan Karlsson, revealed that India is among of the emerging nations globally, the managing director of Volvo India, Akash Passey, has been eyeing the firm in India to expand 30-60% YoY.

Balaji to put on sale education, mobile content ventures

Balaji Telefilms announced this Friday that the firm already sealed a deal to put on sale its media education as well as mobile content ventures with a total value of 83.7 million rupees.

BSE Sensex sheds 0.57% as market on week-ending loss

The BSE Sensex lost 89.01 points or 0.57% to settle at 15,454.92, its lowest closing level since 20 December 2011. The index fell 137 points at the day's low of 15,406.93 in late trade. The index jumped 150.12 points at the day's high of 15,694.05 in morning trade.

The S&P CNX Nifty shed 21.95 points or 0.47% to settle at 4,624.30, its lowest closing level since 20 December 2011. The index hit a low of 4,608.90 and a high of 4,690.45 in intraday trade.

The BSE Mid-Cap index rose 0.31% and the BSE Small-Cap index gained 0.09%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 1486 crore, slightly higher than Rs 1477.58 crore on Thursday, 29 December 2011.

Positive 1331 Negative 1461 Unchanged 126
From the 30 share Sensex pack, 23 fell and rest rose.

LIC Housing Finance eyes to accrue Rs 7,000-8,000 crore in Q4

LIC Housing Finance has been aiming to accumulate more or less Rs 7,000-8,000 crore in the final quarter of the current financial year through issuance of bonds, bank term loans as well as a few retail deposits, according to its director and CEO VK Sharma.

Food inflation improves to 0.42% until Dec 17

According to the state admin statistics, the food inflation improved to 0.42% which was the least figure since 2005 while the fuel inflation slumped to 14.37% until December 17 of the current year.

NTPC to invest in MP, Karnataka worth Rs 18346 crore

NTPC or National Thermal Power Corporation made a statement that they already invested Rs 18346 crore in order to establish energy ventures in both Karnataka and Madhya Pradesh wherein consent will still be needed from the environment ministry.

BSE Sensex slides 1.17% as market plummets

The BSE Sensex lost 183.92 points or 1.17% to settle at 15,543.93, its lowest closing level since 20 December 2011. The index fell 212.41 points at the day's low of 15,515.44 in late trade. The index declined 3.25 points at the day's high of 15,724.60 in mid-morning trade.

The S&P CNX Nifty shed 59.55 points or 1.27% to settle at 4,646.25, its lowest level since 20 December 2011. The index hit a low of 4,639.05 and a high of 4,701.80 in intraday trade.

The BSE Mid-Cap index fell 0.35% and the BSE Small-Cap index declined 0.74%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 1473 crore, higher than Rs 1279.96 crore on Wednesday, 28 December 2011.

Positive 1151 Negative 1541 Unchanged 125
From the 30 share Sensex pack, 24 fell and rest rose.

MP government concurs to give 100 acres of land to Infosys, TCS

Last Wednesday, in the State Cabinet assembly presided by Shivraj Singh Chouhan, the Chief Minister, the Madhya Pradesh Government already gave its nod in principle to provide 100 acres of land each to both Tata Consultancy Services and Infosys Ltd.

Preludesys India eyes IPO worth Rs 81.30 crore

In the latest development, the IT engaged business solutions firm, Preludesys India, already submitted its documents, draft red herring prospectus, with SEBI, the market regulator, for its IPO with a value of Rs 81.30 crore.

Union Bank to pass 10bps rate reduction to clients

According to the chairman and managing director of Union Bank, MV Nair, they already made a decision to pass on the 10 bps or basis point rate reduction to their clients.

Orient Papers still eyes JV exit in cement sector by April 2012

ML Pachisia, the managing director of Orient Papers & Industries, announced that they are still aiming to exit the joint venture in the cement sector which is likely to occur on April 1, 2012 after the court gives them the permission.

BSE Sensex slips 0.92% as market plunges anew

The BSE Sensex shed 146.10 points or 0.92% to settle at 15,727.85, its lowest closing level since 21 December 2011. The index rose 13.85 points at the day's high of 15,887.80 in early trade. The index fell 207.49 points at the day's low of 15,666.46 in early afternoon trade.

The S&P CNX Nifty lost 44.70 points or 0.94% to settle at 4,705.80, its lowest closing level since 21 December 2011. The index hit a low of 4,685.65 and a high of 4,756.20 in intraday trade.

The BSE Mid-Cap index fell 1.06% and the BSE Small-Cap index dropped 1.12%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 1270 crore, lower than Rs 1343.01 crore on Tuesday, 27 December 2011.

Positive 1054 Negative 1682 Unchanged 109
From the 30 share Sensex pack, 18 fell and rest rose.

Rubber costs decline to the delight of tyre manufacturers

In the latest development, the costs of rubber were already in a decline in the previous several months that has led to the delight of the various makers of tyres.

Adani Power halts 6,500 Megawatts biz widening scheme

Adani Power, an Indian utility firm, already halted its intention for capacity growth of 6,500 Megawatts due to unclear availability of coal while they are optimistic of obtaining 6,000 Megawatts of business holdings as aimed next year in March, according to Ravi Sharma, its CEO.

Tata Power gains on Solar merger unit acquisition

The shares of Tata Power grew utmost 4.03% during the initial exchange this Wednesday following the company announced that it is set to acquire the 51% equity shares of Alternative Energy Holding in merger unit Tata BP Solar.

MoEF postpones approval to Suryachakra energy refinery in MP

In a slow down to Suryachakra Power Corporation Ltd’s unit Suryachakra Power Venture, the Ministry of Environment and Forests already postponed approval for 1,320 Megawatts coal-producing energy refinery under construction by the firm located in Madhya Pradesh.

Punj Lloyd obtains Rs 1,050 crore venture from GMR

Punj Lloyd, a construction as well as engineering company, already obtained a highway venture from GMR Project Private Ltd wherein it is located in Udaipur with a project amount of Rs 1,050 crore.

IDBI to own 30% equity shares in IDFs debut

RK Bansal, the executive director of IDBI, announced that the firm already reached out to Reserve Bank in order to introduce infrastructure debt funds or IDFs wherein they are set to own 30% equity shares.

Rs 166.42 crore spent for 8,344 gears in Baramulla

According to the District Development Commissioner of North Kashmir's Baramulla, Bashir Ahmad Bhat, the proceeds worth Rs 166.42 crore have been the result of different banks via establishment of 8,344 revenue producing subsidiaries in the district until September in the current financial year.

L&T;, Mitsubishi to seal shipbuilding deal

Larsen & Tourbro, an engineering and construction firm, revealed that it’s shipbuilding unit, L&T Shipbuilding Ltd, is set to seal a technological and licensing pact with Mitsubishi Heavy Industries Ltd of Japan.

McLeod Russel expects soaring level of Indian tea capacity

Kamal Baheti, the chief financial officer of McLeod Russel, announced that they are looking forward for Indian tea to reach a milestone at a soaring level of 990 million kilograms in the current financial year.

Core index increases last November at 6.8%

In the latest development, the core index made a rebound last November as it obtained 6.8% expansion as against 0.1% last October wherein the core index last November in the previous year came in at 3.7%.

Varun Industries sells holdings in Madagascar oil blocks worth USD 150 million

Varun Industries already made a sale of the 51% equity shares in its onshore oil blocks located in Madagascar with a USD 150 million advanced payment to De Qing Group of China. The firm further announced that it expects a merger with Da Qing for exploration project in Madagascar’s 6,884 square kilometer block.

Petronet LNG looks forward to Hague expansion project

The CEO and Managing Director of Petronet LNG, A Balyan, announced that they have been looking forward to their widening up of operations at Hague wherein the bidding procedure is set to begin anytime in March to April period.

BSE Sensex declines 0.61% as market slumps again

The BSE Sensex shed 96.80 points or 0.61% to settle at 15,873.95, its lowest closing level since 23 December 2011. The index rose 78.37 points at the day's high of 16,049.12 in mid-morning trade, its highest level since 16 December 2011. The index fell 171.12 points at the day's low of 15,799.63 in mid-afternoon trade.

The S&P CNX Nifty lost 28.50 points or 0.6% to settle at 4,750.50, its lowest closing level since 23 December 2011. The Nifty hit a high of 4,800.50 in intraday trade, its highest level since 16 December 2011. The index hit a low of 4,723.65 in intraday trade.

The BSE Mid-Cap index fell 0.69% and underperformed the Sensex. The BSE Small-Cap index declined 0.35% and outperformed the Sensex.

Volumes remained low for the second straight trading session. The BSE clocked turnover of Rs 1336 crore, higher than Rs 1287.57 crore on Monday, 26 December 2011.

Positive 1186 Negative 1506 Unchanged 132
From the 30 share Sensex pack, 22 fell and rest rose.

REC aims to accrue USD 450 million via bonds, syndicate loans

Rural Electrification Corporation, following accumulating more than USD 300 million, has been aiming to accrue USD 450 million by means of bond issues as well as syndicate loans, according to its director of finance, HD Khunteta.

Durables market fails to achieve revenue growth target of 15%

The Consumer Electronics and Appliances Manufacturers Association or CEAMA stated that the Indian consumer durables market comprised by LG, Sony, Videocon, Samsung and Panasonic, with approximated value of Rs 35,000 crore, failed to achieve revenue growth target of 15% during this period whereas 8-9% was only achieved.

India to accrue 400 billion rupees via stake sale

The state admin has been very optimistic in accumulating the financed 400 billion rupees by means of selling equity shares in the government-managed firms wherein the stake is owned by Specified Undertaking of the Unit Trust of India or SUUTI.

Catarmaran to part ways with SKS Microfin

In the latest development, the venture capital unit of NR Narayana Murthy, Catarmaran, has been aiming to part ways with SKS Microfinance, a microfinance lending firm, in the coming month next year.

Assembly on energy, automation and signal to begin on Wednesday

International specialists are scheduled to meet at the International Conference on Energy, Automation and Signal or ICEAS starting on Wednesday wherein they will share tactics to resolve energy crisis as well as electricity thievery in nations such as India.

Economy set to slip back to better expansion course in the near future

Despite of the downturn issues, Pranab Mukherjee, the Finance Minister, announced during his speech at the 4th conference of the Consultative Committee that the economy of India is set to slip back to a better expansion course in the near future.

Petrol price Rs 1 increase in January 2012 looms

The cost of petrol is likely to be increased by more or less Rs 1 for every litre starting in January 2012 amidst the depreciation of the currency of India as compared to the US dollar that leads to more expensive importations.

Reliance Communications nears PE pact for tower subsidiary

Reliance Communications, a firm engaged in cellular phone services, has been currently in the last phase of its discussions with Carlyle and Blackstone, private equity companies, to put on sale its tower subsidiary.

TCS eyes Q3 cross currency gain amidst rupee decline

The managing director as well as CEO of TCS, N Chandrasekaran, announced that the firm has been eyeing cross currency gains in the quarter three of the current financial year because of declining value of rupee.

Havells India, Shanghai Yaming Lighting Co eye merger

Havells India, a leading electrical appliances firm, already embarked on a equally shared business enterprise with China-based Shanghai Yaming Lighting Co to introduce power efficient lighting solutions as well as lighting fixtures.

Lanco Infratech eyes JV with PE companies to accrue USD 600 million

The managing director of Lanco Infratech, G Venkatesh Babu, announced that they are currently negotiating with private equity companies to accumulate USD 600 million amidst of the interest rates hike to 14% from 9%.

Goodwill Hospital and Research Centre eyes IPO launching on Dec 30

Goodwill Hospital and Research Centre has been planning to embark on the principal market with an IPO launching of Rs 62 crore which is scheduled on December 30, 2011 while it is set to conclude on January 9, 2012.

Maiam Global Foods eyes 90 lakh stake IPO

Maiam Global Foods already submitted its DRHP with SEBI, the market regulating body, for IPO of utmost 90 lakh stake wherein the face value is worth Rs 10 for every equity share which is a dilution of 49.70% stake.

Blupast Industries submits DRHP for IPO worth Rs 60 crore

Blupast Industries, a firm engaged in the production of plastic merchandise, has been aiming to accumulate Rs 60 crore by means of IPO wherein it already submitted DRHP with SEBI, the market regulator.

BSE Sensex soars 0.82% as market keeps on growing

The BSE Sensex surged 128.15 points or 0.82% to settle at 15,813.36, its highest closing level since 15 December 2011. The index lost 212.51 points at the day's low of 15,472.70 in afternoon trade. The Sensex gained 149.42 points at the day's high of 15,834.63 in late trade.

The S&P CNX Nifty jumped 40.70 points or 0.87% to settle at 4,733.85, its highest closing level since 15 December 2011. The Nifty hit a high of 4,740.60 and a low 4,632.95 in intraday trade.

The BSE Mid-Cap index rose 0.78% and the BSE Small-Cap index gained 0.7%. Both these indices underperformed the Sensex.

The total turnover on BSE amounted to Rs 2032 crore, higher than Rs 1930.59 crore clocked on Wednesday, 21 December 2011.

Positive 1568 Negative 1169 Unchanged 111
From the 30 share Sensex pack, 22 rose and rest fell.

Reliance Ind acquires holding in Terra Power

The Chairman of Reliance Industries, Mukesh Ambani, stated this Thursday that they already acquired a minority holding in Terra Power, a firm from America engaged in nuclear technology design and engineering.

Asset quality growth in H2 FY12 looms says Bank of India

The executive director of Bank of India or BoI, N Seshadri, announced that they have been aiming to witness an essential growth in the asset quality in the last six months of the current financial year.

RBI governor eyes FY12 expansion less than 7.6%

Duvvuri Subbarao, the Governor of Reserve Bank, revealed that the economic growth of India in the present financial year has been predicted to come in at less than 7.6%. Furthermore, the central bank is set to modify its prediction next month.

Food inflation improves to 1.81% until Dec 10 Year-on-Year

According to the statistics from the state admin, it revealed that the food inflation improved to 1.8% until December 10 as compared to the same period last year wherein a 4.35% yearly upsurge was witnessed as compared to the same period last week.

Yes Bank increases rate to 7% for deposits beyond Rs 1 lakh

The Managing Director as well as CEO of Yes Bank, Rana Kapoor, announced that for the purpose of gaining low-cost finances, they increased this day the saving deposit rates from 6% to 7% wherein the bank is set to provide 7% on deposits to more than Rs 1 lakh.

Karnataka Bank sustains growth guidance at 25% in FY12

The managing director of Karnataka Bank, P Jayarama Bhat, announced that they were able to sustain advances growth guidance in the current financial year at 25% wherein the growth in the NRE deposits will not affect their NIMs or net interest margins.

M&M; tractor sector in upsurge

The president of automotive as well as farm equipment segment of Mahindra & Mahindra, Pawan Goenka, announced that the expansion was seen outstanding while no sighting of tractor sector decline has been predicted.

Coromandel completes purchase of Sabero Organics

The managing director of Coromandel International, Kapil Mehan, announced that the firm already consummated the purchase of Sabero Organics, an insecticide manufacturing firm. At present, the production usage of Sabero was at nearly 30-35% with a prediction to rise to 40-50%.

GVK to accrue utmost USD 500 million via Aussie stake sale

In the latest development, GVK Power and Infrastructure has been aiming to put on sale its minority stake in GVK Hancock, the firm’s Australian subsidiary, in order to accumulate financing between $300 million and $500 million to retire portion of its arrears as well as fund businesses.

V-Guard Industries eyes 35% sales growth

According to the executive director of V-Guard Industries, Mithun Chittilappily, they are eyeing to attain 35% expansion in sales as they are optimistic to retain EBITDA margin at 9% in the financial year 2012.

Ashok Leyland to increase stake in Optare to 75.1%

Ashok Leyland, a commercial auto manufacturer managed by Hinduja Group, has been increasing its equity shares in Optare Plc, a bus manufacturing firm from Britain, to 75.1% succeeding a re-financing pact.

Fitch eyes coal scarcity, less tariffs to trip energy companies

According to Venkataraman Rajaraman, the Fitch global infrastructure group director, there will be scarcity of coal stock as well as no conditions to pass on fuel prices to energy tariffs has been seen to make an influence to the arrears of thermal ventures on coal.

Infosys BPO to acquire Portland Group of Australia

The business process outsourcing unit of Infosys, Infosys BPO, has been purchasing Sydney, the Portland Group from Australia, to the amount of AUD 37 million wherein the firm supplies tactical sourcing as well as category management services.

Suzlon bags 20.5 Megawatts order in UK

Suzlon Energy, the wind turbine manufacturer, announced this day that its unit in Germany, REpower, already sealed a pact with the UK-based renewable power firm Your Energy to provide ten turbines that can produce 2.05 Megawatts each for its wind farm venture in Sixpenny Wood.

IDFC clears up Rs 538 crore from infrastructure bonds

IDFC announced this day that it already cleared up Rs 538.08 crore coming from the initial tranche of the firm’s tax-preserving long term infrastructure bonds from more or less 2.7 lakh retail stockholders.

India real estate with utmost USD 5 billion PE exits looms next year

According to Jones Lang LaSalle, a foreign brokering firm, last Tuesday, the private equity funds were eyed to exit next year in the range of USD 3 billion to USD 5 billion of realty assets in India.

Tata Motors in talks with govt for sales growth plans

The President - CV Business at Tata Motors, Ravi Pisharody, announced that the market agency SIAM has been under negotiations with the state admin for sales growth plans amidst of lesser bus sales in April-November period as compared to the previous year.

Moody’s sees steady bond ratings in India

In the latest development, this Wednesday, Moody’s, a ratings agency, merged the domestic as well as international currency bond ratings of India at Baa3 wherein steady ratings have been observed.

BSE Sensex expands 3.36% on upbeat market

The BSE Sensex jumped 510.13 points or 3.36% to settle at 15,685.21, its highest closing level since 15 December 2011. The index jumped 552.23 points at the day's high of 15,727.31 in late trade. The index rose 201.96 points at the day's low of 15,377.04 in early afternoon trade.

The S&P CNX Nifty jumped 148.95 points or 3.28% to settle at 4,693.15, its highest closing level since 15 December 2011. The Nifty hit a high of 4,707.35 and a low of 4,601.95 in intraday trade.

The BSE Mid-Cap index gained 1.29% and the BSE Small-Cap index rose 0.94%. Both these indices underperformed the Sensex.

The total turnover on BSE amounted to Rs 1924 crore, higher than Rs 1908 crore on Tuesday, 20 December 2011.

Positive 1672 Negative 1097 Unchanged 104
From the 30 share Sensex pack, 28 rose and rest fell.

Reliance Industries refutes account on Network 18 stake acquisition

In the latest development, Reliance Industries, a leading oil and gas firm, refuted an account this Tuesday about the firm’s alleged plan to acquire equity shares in Network 18, a television network.

SREI Infra to increase Rs 500 crore thru infra bonds in January

The chairman of SREI Infra structure Finance, Hemant Kanoria, already made a decision to increase utmost Rs 500 crore by means of infrastructure bonds’ public issue as they eye that the IPO is set to be launched next month.

Future Capital eyes to meet Rs 4,700 crore goal in FY12

The chairman and managing director of Future Capital, V Vaidyanathan, announced that the firm has been doing fine wherein they eye to reach the goal of Rs 4,700 crore in the current financial year.

Rakesh Jhunjhunwala eyes to put on sale his Aptech stocks thru auction

Rakesh Jhunjhunwala, a billionaire stockholder, has been planning to put on sale his Aptech equity shares by means of auction while owning 32.28% equity shares of the firm located in Mumbai.

BSE Sensex declines 1.33% as market remains downbeat

The BSE Sensex lost 204.26 points or 1.33% to settle at 15,175.08, its lowest closing level since 20 August 2009. The index gained 68.79 points at the day's high of 15,448.13 in early trade, its highest level since 16 December 2011. The index fell 243.48 points at the day's low of 15,135.86 in late trade.

The S&P CNX Nifty lost 68.90 points or 1.49% to settle at 4,544.20, its lowest closing level since 21 August 2009. The Nifty hit a high of 4,637.25 in intraday trade, its highest level since 16 December 2011. The Nifty hit a low of 4,531.15 in intraday trade.

The BSE Mid-Cap index fell 1.86% and the BSE Small-Cap index declined 1.45%. Both these indices underperformed the Sensex.

The total turnover on BSE amounted to Rs 1900 crore, higher than Monday's turnover of Rs 1844 crore.

Positive 666 Negative 1885 Unchanged 1108
From the 30 share Sensex pack, 25 fell and rest rose.

Unity Infra eyes Rs 16-20 crore topline from fresh ventures

Madhan Nadkarni, the chief financial officer of Unity Infraprojects, revealed that the firm already attained orders with an amount of Rs 139 crore wherein the venture is aimed to be consummated in two years at the same time raising the topline by 16-20 crore in the current fiscal year.

Shree Ganesh Jewellery eyes 25% revenue expansion in FY12

The chairman of Shree Ganesh Jewellery House, Nilesh Parikh, announced that the firm is set to attain 25% revenue expansion in the current financial year whereas the bottom-line is eyed to decline.

L&T; attains Rs 1,000 crore Q3 FY12 orders

L&T Construction, a leading engineering firm, announced this day that they already attained fresh orders with an amount of Rs 1,000 crore in different sectors in the quarter three of the financial year 2012.

Madhucon Projects attains Rs 6,700 crore current order book

According to the CFO of Madhucon Projects, G Ramachandran, the firm’s current order book is worth Rs 6,700 crore as they expect to keep on with its expansion in the future.

Tube Investment says no essential expansion this FY12

The managing director of Tube Investment, L Ramkumar, announced that the firm tackled on issues regarding the decline in passenger vehicles as well as truck sector wherein 65% of its topline was from auto venture. Furthermore, he was not eyeing essential expansion in the current year as compared to the previous year.

Dual platinum credit card introduced by ICICI Bank

ICICI Bank, the hugest private lending firm of India, announced this Tuesday that they already introduced a platinum credit card known as Rubyx in a joint venture with American Express, a credit card and travel services firm as well as MasterCard.

Cummins India eyes 5-10% FY12 revenue expansion

In the latest development, Cummins India’s chief financial officer, Rajiv Batra, eyes revenue expansion at 5-10% in the financial year 2012 while predicting 20% expansion rates until 2015 to 2017.

BSE Sensex falls 0.72% as market still on slump

The BSE Sensex lost 112.01 points or 0.72% to settle at 15,379.34, its lowest closing level since 21 August 2009. The index lost 300.61 points at the day's low of 15,190.74 in mid-afternoon trade. The index fell 51.25 points at the day's high of 15,440.10 in early trade.

The S&P CNX Nifty lost 38.50 points or 0.83% to settle at 4,613.10, its lowest closing level since 3 November 2009. The Nifty hit a low of 4,555.90 and a high of 4,623.15 in intraday trade.

The BSE Mid-Cap index fell 1.99% and the BSE Small-Cap index declined 2.5%. Both these indices underperformed the Sensex.

The total turnover on BSE amounted to Rs 1838 crore, lower than Friday's Rs 2187.93 crore.

Positive 733 Negative 2068 Unchanged 89
From the 30 share Sensex pack, 21 fell and rest rose.

Flex Foods eyes F12 revenue about Rs 57-60 crore

Prabik Ghatak, the chief executive officer of Flex Food, announced that they have been looking forward to obtain revenue worth more or less Rs 57-60 crore for the financial year 2012 wherein utmost 97% of the firm’s revenues came from exports.

Inflation not a severe danger: Jitendra Arora

In the latest development, ICICI Prudential Life Insurance firm’s senior vice president of debt investments, Jitendra Arora, already disregarded inflation as a severe danger to the policy stance of RBI.

Shriram EPC obtains Rs 260 crore pact for NMDC steel refinery

Shriram EPC Ltd (SEPC) announced this day that it already obtained a pact worth Rs 260 crore for the establishment of a byproduct complex at 3-MTPA steel refinery of NMDC located at Nagarnar, Chattishgarh.

BSE Sensex plunges 2.18% as market continues to slide

The BSE Sensex was down 345.12 points or 2.18% to 15,491.35, its lowest closing level since 3 November 2009. The index jumped 232.43 points at the day's high of 16,068.90 in mid-afternoon trade, its highest level since 14 December 2011. The index slumped 411.27 points at the day's low of 15,425.20 in late trade.

The S&P CNX Nifty was down 94.75 points or 2% to 4,651.60, its lowest closing level since 3 November 2009. The index hit a hit a high of 4,818.85 in intraday trade, its highest level since 14 December 2011. The Nifty hit a low of 4,628.20 in intraday trade.

The BSE Mid-Cap index fell 1.72% and the BSE Small-Cap index shed 1.6%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2177 crore, higher than Rs 2041.89 crore on Thursday, 15 December 2011.

Positive 826 Negative 1932 Unchanged 120
From the 30 share Sensex pack, 28 fell and rest rose.

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BSE Sensex slumps 0.28% as gloomy market witnessed

The BSE Sensex lost 44.67 points or 0.28% to settle at 15,836.47, its lowest closing level since 25 November 2011. The index rose 26.88 points at the day's high of 15,908.02 in mid-afternoon trade. The index declined 284.92 points at the day's low of 15,596.22 in mid-morning trade, its lowest level since 24 November 2011.

The S&P CNX Nifty was down 16.80 points or 0.35% to 4,746.35, its lowest closing level since 25 November 2011. The index hit a low of 4,673.85 in intraday trade, its lowest level since 24 November 2011. The Nifty hit a high of 4,768.65 in intraday trade.

The BSE Mid-Cap index fell 1.11% and the BSE Small-Cap index shed 1.52%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2032 crore, higher than Rs 1929.75 crore on Wednesday, 14 December 2011.

Positive 878 Negative 1850 Unchanged 121
From the 30 share Sensex pack, 17 fell and rest rose.

Jindal Saw obtains Rs 4,500 crore present order book

The managing director of Jindal Saw, Indresh Batra, revealed that the firm’s present order book has a total worth of more or less Rs 4,500 crore wherein it covered their more than half a year expected revenue.

Heidelberg Cement India predicts improved Q1 next year

The managing director and chief executive officer of Ashish Guha, Heidelberg Cement India, announced that they are eyeing to get improved results in the first quarter of next year after predicting more or less 7.5% to 8% expansion in cement utilization in the start of 2011.

Shri Lakshmi Cotsyn eyes Rs 3,000 crore turnover in 2012

The CMD of Shri Lakshmi Cotsyn, MP Agarwal, announced that a declining rupee made a good effect on the exports of the firm while they expect to obtain turnover at Rs 3,000 crore in 2012 after achieving nearly Rs 2,400 crore in 2011.

BSE Sensex soars 0.83% as market moves onward

The BSE Sensex jumped 132.16 points or 0.83% to settle at 16,002.51, its highest closing level since 9 December 2011. The index surged 209.03 points at the day's high of 16,079.38 in late trade. The index declined 98.76 points at the day's low of 15,771.59 in early trade, its lowest level since 25 November 2011.

The S&P CNX Nifty advanced 36 points or 0.76% to settle at 4800.60, its highest closing level since 9 December 2011. The Nifty hit a high of 4,824.70 in intraday trade. The index hit a low of 4,728.50 in intraday trade, its lowest level since 25 November 2011.

The BSE mid-Cap index fell 0.58% and the BSE Small-Cap index declined 0.71%. Both these indices underperformed the Sensex.

BSE clocked a turnover Rs 2052 crore, higher than Rs 1824.22 crore on Monday, 12 December 2011.

Positive 1105 Negative 1620 Unchanged 123
From the 30 share Sensex pack, 24 rose and rest fell.

Supreme Industries eyes Rs 350-375 crore guidance

Supreme Industries, a plastic processing firm, already verified that it has been slashing its guidance for the industrial sector to Rs 350 crore as compared to the previous Rs 430 crore as it eyes to meet the target to nearly Rs 350-375 crore.

Dishman Pharma eyes 50% contribution growth from Abbott

The managing director of Dishman Pharma, JR Vyas, announced that the firm which is already in the process of slumping, looks forward for its major clients Abbott’s share to expand by 50 percent.

Nava Bharat to expand foreign businesses

According to the director at Nava Bharat Ventures, PJV Sarma, the firm which purchased the biggest coal mine of Zambia in 2009, has been aiming to widen up its foreign operations wherein it is composed of two parts.

SBI starts businesses in Qatar

State Bank of India, the country’s biggest lending firm, already began businesses in Qatar through introduction of a hub in the Qatar Financial Centre, Doha which was inaugurated by E Ahmed, the minister of state for external affairs.

Gati eyes completion of shipping unit demerger in December

In the latest development, according to the managing director as well as chief executive officer of Gati, the firm has been planning to consummate a demerger of its shipping unit which is expected to occur in December of the current year.

26% FDI in private airlines amenable to Aviation Ministry

The Civil Aviation Ministry already gave its approval to the recommendation of giving permission to international carriers to acquire 26% equity shares or 26% on foreign direct investment, which is FDI, in private airlines.

Reliance Capital to sell 26% in general insurance unit

Reliance Capital, a monetary services company based in India, has been under negotiations with prospective associates to put on sale utmost 26% in its general insurance subsidiary wherein the agreement could be sealed half a year from now.

Headline inflation of India probably eased to 9.04 percent

The headline inflation of India most probably stabilized last November from 9.73% to 9.04% as compared to the previous month while the food costs declined to their record low in more or less 3 ½ years.

BSE Sensex plunges 2.12% as market on slump

The BSE Sensex lost 343.11 points or 2.12% to settle at 15,870.35, its lowest closing level since 25 November 2011. The index declined 373.50 points at the day's low of 15,839.96 in late trade. The index rose 146.86 points at the day's high of 16,360.32 in early trade.

The S&P CNX Nifty lost 102.10 points or 2.1% to settle at 4,764.60, its lowest closing level since 25 November 2011. The index hit a low of 4,755.55 and a high of 4,910.25 in intraday trade.

The BSE Mid-Cap index fell 1.9% and the BSE Small-Cap index declined 1.54%. Both these indices outperformed the Sensex.

BSE clocked turnover 1815 crore, lower than Rs 1897.66 crore on Friday, 9 December 2011.

Positive 1957 Negative 797 Unchanged 115
From the 30 share Sensex pack, 27 fell and rest rose.

October industrial output declines to -5.1 percent

The industrial output last October witnessed a deep de-growth which is 5.1% while the economic experts already predicted a 1.6% decline as against the 1.9% last September due to reduced capital expansion.

Miyajiwala expects growth beginning January 2013

MM Miyajiwala, an industry expert, announced that even though negative figures were obtained for the October IIP, with a -25.5% which is too lofty for a slump, he is looking forward that growth most probably be achieved next year starting January.

Government aims to reach export goal of USD 33 billion in 2013

The state admin will be aiming to reach its export goal worth USD 33 billion for the textiles segment in 2013 amidst the worldwide economic recession, wherein it is coined a “serious concern” but procedures were already provided to solve it.

Madhucon Infra completes phase-1 development of Simhapuri energy refinery

A subsidiary of Madhucon Projects, Madhucon Infra, already finished the development of the phase-1, which is 300 Megawatts, of the Simhapuri thermal energy venture close to Nellore that produces 1,920 Megawatts of power.

Unity Infra obtains Rs 3,800 crore current order book

According to the CFO of Unity Infra Projects, Madhav Nadkarnj, the firm’s current order book stands at Rs 3,800 crore wherein the building sector accounts for 54% while water and balance from transportation is 30%.

Petronet LNG eyes 11 metric tonnes capacity in current fiscal year

Petronet LNG’s director of finance, RK Garg, announced that he is glad with the pact that LNG obtained with GDF (GAZ de France) at 13-14% of cost of crude. The capacity in the current financial year is eyed at 11 metric tonnes and likely to increase in the next fiscal year.

GTL Infra declares Rs 500 crore unrevealed income to Income Tax dept

GTL Infrastructure, a telecom firm, already declared unrevealed income with value greater than Rs 500 crore to the Income Tax department, according to the Minister of State for Finance, S S Palanimanickan.

India remains on top worldwide with 6.9% GDP expansion

The chief economic advisor to the Ministry of Finance, Dr. Kaushik Basu, announced that India remains the global leader in GDP wherein it expanded by 6.9% in the second quarter while several nations have been expanding at 4.5%.

RIL assigns Bharucha to be its arbitrator

Reliance Industries already assigned S P Bharucha, India’s previous Chief Justice, to be its arbitrator. Furthermore, the firm demanded the oil ministry to recommend its arbitrator on December 23 of the present year.

Indirect tax increases 16.8% as CBEC hopes to obtain goal

In the latest development, the indirect tax collections increased 16.8% until the eighth month of the financial year 2012 with a value of 2,52,544 crore that compelled the CBEC or Central Board of Excise to convey hope in obtaining the modified budget approximate goal.

Finance Minister eyes 7.5% growth in FY12

The Finance Ministry announced this Friday in Parliament that the economy of India most probably will expand more or less from 7.25% to 7.75% in the current financial year that concludes in March next year.

BSE Sensex declines 1.67% as market struggles

The BSE Sensex lost 274.78 points or 1.67% to settle at 16,213.46, its lowest closing level since 30 November 2011. The index fell 345.92 points at the day's low of 16,142.32 in afternoon trade. The index declined 105.67 points at the day's high of 16,382.57 in late trade.

The S&P CNX Nifty shed 76.95 points or 1.56% to settle at 4,866.70, its lowest closing level since 30 November 2011. The Nifty hit a low of 4,841.75 in intraday trade. The Nifty hit a high of 4,918.35 in intraday trade.

The BSE Mid-Cap index fell 0.86% and the BSE Small-Cap index declined 0.89%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 1885 crore, lower than Rs 1995.04 crore on Thursday, 8 December 2011.

Positive 1017 Negative 1710 Unchanged 129
From the 30 share Sensex pack, 26 fell and rest rose.

Car industry to obtain break even in current financial year

The car industry of India most probably to achieve “break even” financial status in the current financial year until March next year, according to Sugato Sen, the Society of Indian Automobile Manufacturers. Furthermore, India’s auto sales increased 7% last November as compared to the same period last year.

Declining growth to affect financial deficit says Finance Minister

Pranab Mukherjee, the Finance Minister, announced that the decreasing growth as well as increasing subsidy bill has been observed to affect the nation’s financial deficit at the same time, the almost-two digit inflation could further create a severe problem.

Weekly food inflation declines to 6.6% Year-on-Year

In the latest development, according to the state admin statistics, the food inflation strongly stabilized to 6.60% as compared to 8.00% in the same period last year until November 26.

Repro India aims JVs, purchases for African expansion

Repro India, the printer and book exporting firm, has been planning to widen up its businesses in Africa wherein it will begin to acquire or make shared business enterprises with African firms in the near future.

Kalindee Rail aims for Rs 300-500 crore orders from RVNL

Arvind Gemini, the director of Kalindee Rail Nirman, announced that they are aiming to obtain orders from Rail Vikas Nigam Limited or RVNL, with an amount of Rs 300-500 crore, which will probably occur by March to June in 2012.

Loan increase to be controlled in second half of FY12 says Bank of India

N Seshadri, the Executive Director of Bank of India, has been predicting that there will be no provisions growth in the third quarter consecutively as they eye controlled loan expansion in the second half of the financial year 2012.

Vedanta seals pact with Cairn India

Vedanta Resources Plc already consummated its much anticipated acquisition of the bulk equity shares in the Indian subsidiary of Cairn Energy Plc which is worth USD 8.7 billion. The firm, as of the moment, owns 58.5% of Cairn India.

BSE Sensex slumps 2.3% on downbeat trading day

The BSE Sensex lost 388.82 points or 2.3% to settle at 16,488.24, its lowest closing level since 1 December 2011. The index fell 455.51 points at the day's low of 16,421.55 in late trade, its lowest level since 30 November 2011. The index declined 29.24 points at the day's high of 16,847.82 in early trade.

The S&P CNX Nifty fell 118.95 points or 2.35% to settle at 4,943.65, its lowest closing level since 1 December 2011. The Nifty hit a low of 4,921.45 in intraday trade. The Nifty hit a high of 5,049.05 in intraday trade.

The BSE Mid-Cap index fell 1.77% and the BSE Small-Cap index fell 1.61%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 1981 crore, lower than Rs 3092.83 crore on Wednesday, 7 December 2011.

Positive 842 Negative 1910 Unchanged 116
From the 30 share Sensex pack, 25 fell and rest rose.

M&M; to sustain growth in the following few months

Mahindra & Mahindra’s or M&M’s Senior Vice President of sales and customer care from the automotive division, Arun Malhotta, announced that their car sales expanded by 53% as compared in the same period last year while expecting the growth to carry on to the following few months.

Lupins obtains USFDA approval for generic of Solodyn

Lupin Pharmaceuticals, the unit of Lupin, already obtained US FDA or Food and Drugs Administration final nod for its ANDA or abbreviated new drug application to sell its generic counterpart of Medicis Pharmaceutical Corp's Solodyn which is Minocycline hydrochloride extended-release tablets.

Bajaj Auto to strive for 25% sales growth amidst depressed market

Bajaj’s managing director, Rajiv Bajaj, recently admitted that they have to make every effort in order to obtain 25% sales growth since the market situations have been gloomy nowadays in spite of getting a record number of sales last November.

Deccan Chronicle eyes tie-ups in units Chargers and Odyssey

According to the managing director of Deccan Chronicle, PK Iyer, they have been aiming to put on sale the stake of their two units namely Odyssey along with Deccan Chargers which they have been operating since 2003.

KEI Industries present order book stands at nearly Rs 700 crore

KEI Industries’ chairman and managing director, Anil Gupta, announced that they have a present order book worth Rs 700 crore as they have been looking forward to obtain gross sales of more or less Rs 1,700-1,800 crore.

Newly acquired Rwanda tea firm eyed to yield USD 2 miilion return for McLeod Russel

The managing director of McLeod Russel, Aditya Khaitan, announced that they already consummated a 60% purchase of a tea firm based in Rwanda as the firm has tea capacity of around 2 million kilogram with expected return of nearly USD 2 million for them.

Vivimed Labs purchases Uquifa worth USD 55 million

Vivimed Labs, a pharmaceutical firm, lately already purchased a pharma conglomerate based in Spain, Uquifa, which is worth USD 55 million made possible via debt, equity as well as internal funding, in order to widen up ventures, according to its chairman and managing director Santosh Varalwar.

Elecon eyes 14-15% expansion in current fiscal year

Elecon Engineering’s executive director, Prashant Amin, revealed that their present order book situation has a value more or less Rs 1,500 crore whereas the firm has been anticipating to reach around 14-15% expansion in the current financial year.

Kingfisher under negotiations with a local financier

In the latest development, Vijay Mallya, the chairman of Kingfisher Airlines, has already announced that there are ongoing discussions regarding infusing finances in his money-fastened carrier with a local financier.

Pranab Mukherjee, the Finance Minister, announced that the state admin showed incapacity to give a monetary stimulus which is similar to 2008 to 2009

Pranab Mukherjee, the Finance Minister, announced that the state admin showed incapacity to give a monetary stimulus which is similar to 2008 to 2009 in order to obtain economy growth which will most probably decline to 7.5% in the current financial year.

Tata Steel shortly stops strip mill biz in Wales, 115 jobs slashed

Tata Steel announced that, for the time being, it already stopped the operations in its South Wales hot strip mill wherein 115 jobs at the Llanwern refinery in Newport were slashed because of weak requirements across the nation of Britain.

BSE Sensex climbs 2.2% as market remains strong

The BSE Sensex was up 363.38 points or 2.2% to 16,846.83, its highest closing level since 15 November 2011. The index jumped 405.39 points at the day's high of 16,888.84 in late trade. The index fell 54.79 points at the day's low of 16,428.66 in early trade.

The S&P CNX Nifty was up 113.30 points or 2.29% to 5,050.15, its highest closing level since 15 November 2011. The Nifty hit a high of 5,062.55 and a low of 4,918.40 in intraday trade.

The BSE Mid-Cap index rose 1.43% and the BSE Small-Cap index gained 1.08%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2261 crore higher than Rs 1962.12 crore on Thursday, 1 December 2011.

Positive 1763 Negative 1036 Unchanged 117
From the 30 share Sensex pack, 29 rose and rest fell.

Tata Motors’ Nano, Indica sales soar

The entire auto sales of Tata Motors last November soared 41% to 76,823 units as compared to the same period last year. The upsurge in sales got big contribution from passenger auto sales such as Nano as well as Indica.

NCMSL, State Bank of Mysore in joint venture

Sanjay Kaul, the Managing Director as well as CEO of NCMSL or National Collateral Management Services Limited, announced that the firm already embarked into a shared business enterprise with State Bank of Mysore or SBM for businesses in Bangalore involving collateral management as well as warehousing services.

Food inflation declines to 8% last November 19

The WPI or Wholesale Price Index already measured the food inflation in India wherein it deeply declined to 8% in the week until November 19 as compared to the 9.01% recorded in the past week until November 12.

Maruti Suzuki’s auto sales in November plunges 19.2% YoY

The entire auto sales of Maruti Suzuki last November declined 18.5% as compared to the same period last year which is 91,772 units. Furthermore, the firm’s auto sales in the local market slipped 19.2% last month year-on-year which is 82,870 units.

Reliance aims to issue USD 1 billion bond

Reliance Industries, a power leading firm, aims to launch USD 1 billion which is an international bond for 10 years, most probably be introduced in the first half of 2012 to finance investments and other procurements.

Indian economy most sluggish in 2 years

The economy of India witnessed its most sluggish pace since 2009 wherein the market already absorbed a figure which is more or less 6.8% as compared to 6.9% expected headline number.

Unity Infra aims Rs 5000 crore new orders in current fiscal year

Unity Infraprojects already obtained orders to the amount of Rs 184 crore from Adani Township & Real Estate as well Rs 122 crore from Engineers India while aiming to have Rs 5000 crore in the current fiscal year, according to the chief financial officer of the company, Madhav NAdkarni.

Nifty Future profit 259 points per lot in one day

On 30^th November, we gave a Positional Nifty Future tip

Buy Nifty Future for the target 5000 within a week

On 1^st Dec, Nifty future made a high of 5015

Total points gained

4756 to 5015

259 points profit per lot

                                                 

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