IPO of NBCC to be launched by end of March

National Buildings Construction Corp or NBCC, a government-run firm, has been optimistic about its IPO entering the capital market by the conclusion of the present financial year 2012 upon approval by SEBI.

Ramky Enviro of India aims utmost USD 125 million IPO

Ramky Enviro Engineers of India has been aiming to accrue utmost USD 125 million by means of an IPO. Moreover, for this issue, it already made a shortlist of banks like Bank of America Merrill Lyunch together with JPMorgan Chase.

BSE Sensex climbs 0.12% as market still expanding

The BSE Sensex rose 21.56 points or 0.12% to settle at 17,752.68, its highest closing level since 24 February 2012. The index surged 270.23 points at the day's high of 18,001.35 in early trade. The index fell 53.15 points at the day's low of 17,677.97 in mid-afternoon trade.

The S&P; CNX Nifty rose 9.70 points or 0.18% to settle at 5,385.20, its highest closing level since 24 February 2012. The index hit a high of 5,458.80 and a low of 5,352.25 in intraday trade.

The BSE Mid-Cap index rose 1.1% and the BSE Small-Cap index gained 0.62%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 3501 crore, higher than Rs 2816.50 crore on Tuesday, 28 February 2012.

Positive 1593 Negative 1295 Unchanged 137
From the 30 share Sensex pack, 17 fell and rest rose.

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Infrastructure sector in January grows 0.5% Year-on-Year

The infrastructure segment of India expanded 0.5% last January as compared to the same period last year which was a deep slide than the upwardly modified yearly growth of 4.6% in January.

IDBI Bank eyes 3% NIM by March 2014

IDBI Bank announced that it has been planning to obtain 2.1% to 2.2% net interest margin at the conclusion of FY12 as well as 3% by March 31, 2014.

$168 million FCCBs redeemed by Orchid Chemicals

Orchid Chemicals and Pharmaceuticals announced that it already have redemption amounting to USD 167.64 million in outstanding foreign currency convertible bonds or FCCBs which is comprised also the yield to maturity.

BSE Sensex increases 1.64% as market surges back

The BSE Sensex rose 285.37 points or 1.64% to 17,731.12, its highest closing level since 24 February 2012. The index jumped 331.07 points at the day's high of 17,776.82 in mid-afternoon trade. The index gained 84.69 points at the day's low of 17,530.44 in early trade.

The S&P; CNX Nifty rose 94.30 points or 1.79% to 5,375.50, its highest closing level since 24 February 2012. The index hit a high of 5,391.10 and a low of 5,306.45 in intraday trade.

The BSE Mid-Cap index rose 3.40% and the BSE Small-Cap index gained 2.78%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2805 crore higher than Rs 2550.63 crore on Monday, 27 February 2012.

Positive 2139 Negative 765 Unchanged 116
From the 30 share Sensex pack, 24 fell and rest rose.

Telenor comes to India Company Law Board over merger row

Telenor of Norway announced that it already came within reach of Company Law Board of India to avoid any “incorrect hindrance” of its endeavor to protect its Indian units.

KG block development scheme to be submitted by BP, RIL looms

Reliance Industries as well as merger associate BP Plc is set to submit only one development scheme for the whole KG D6 oil along with gas block to the state admin in the near future.

SKS Micro to accrue Rs 500 crore via QIP

SKS Microfinance’s chief financial officer Dilli Raj, announced that the firm is set to introduce QIP or qualified institutional placement by the conclusion of this year to accrue Rs 500 crore by means of QIP.

Orchid Chemicals to make repayment of $167 million in FCCBs

Orchid Chemicals and Pharmaceuticals announced this day that it is all set to make repayment amounting to USD 167 million in foreign currency convertible bonds or FCCBs this coming Tuesday.

SBI eyes near 18% credit expansion by last quarter

The managing director of State Bank of India, A Krishna Kumar, announced that they have been looking forward to obtain more or less 18% credit expansion in by the conclusion of the fourth quarter of the financial year 2012.

BPCL no plan on selling Rovuna shares

BPCL’s chairman and managing director RK Singh announced that the firm does not want to put on sale its equity shares in the Rovuna Offshore Area 1 wherein Bharat Petroleum as well as Videocon also have few shares in Rovuna.

MCX sets IPO price at Rs 1,032 every share

In the latest development, Multi Commodity Exchange or MCX of India already set the price for its IPO which stands at Rs 1,032 for every share in order to accrue Rs 6.6 billion.

BSE Sensex slips 2.67% as market in slump again

The BSE Sensex lost 477.82 points or 2.67% to settle at 17,445.75, its lowest closing level since 2 February 2012. The index slumped 541.93 points at the day's low of 17,381.64 in late trade. The index rose 51.62 points at the day's high of 17,975.19 in early trade.

The S&P; CNX Nifty fell 148.10 points or 2.73% to settle at 5,281.20, its lowest closing level since 2 February 2012. The index hit a low of 5,268.15 in intraday trade. Nifty hit a high of 5,449.80 in intraday trade.

The BSE Mid-Cap index fell 3.02% and the BSE Small-Cap index fell 3.26%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2541 crore, lower than Rs 2900.11 crore on Friday, 24 February 2012.

Positive 649 Negative 2210 Unchanged 85
From the 30 share Sensex pack, 28 fell and rest rose.

Citi accrues USD 1.95 billion from HDFC equity shares

In the latest development, Citigroup Inc already accumulated USD 1.95 billion via sale of its whole equity shares in Housing Development Finance Corp at the value of Rs 657.50 per share.

Abraaj Cap eyes Indian agro and social infra sector

The CEO of Abraaj Capital Asia, Omar Lodhi, announced that with the M&A; of Abraaj & Aureos Capital already made the biggest SME as well as PE venture in growing industries in India such as social infrastructure and agro sector.

CIL plans to produce 15 million tonnes of coal

In the latest development, CIL announced that it will be able to increase its refineries by 25% that should grow coal capacity by 10-15 million tonnes greater than its current production.

BILT says coated, uncoated paper demand growing in India

B Hari Haran, BILT’s group director of finance, announced that the demand for the coated paper as well as the uncoated paper keeps on growing in India at about 8-10% and 8% correspondingly.

GoM gives nod to urea latest investment policy

A Group of Ministers or GoM announced that they already gave nod to the latest investment policy to intensify the urea market so that the country will be viable in this industry.

IRB to have 6-8% toll increase on Karnataka thoroughfare

IRB Infrastructure Developers has been aiming to increase toll rates by more or less 6-8% starting April on a venture in Karnataka, according to the firm’s chairman Virendra D Mhaiskar.

IPO of MCX receives subscription 53.78 times

The initial public offering or IPO of MCX, which is 64.27 lakh shares, obtained subscription 53.78 times at the final day wherein it got positive remarks from each kind of stockholder.

BSE Sensex plunges 0.86% as market still in deep slide

The BSE Sensex shed 154.93 points or 0.86% to settle at 17,923.57, its lowest closing level since 14 February 2012. The index fell 229.57 points at the day's low of 17,848.93 in mid-afternoon trade. The index rose 119.65 points at the day's high of 18,198.15 in early trade.

The S&P; CNX Nifty shed 54 points or 0.98% to settle at 5,429.30, its lowest level since 14 February 2012. Nifty hit a low of 5,405.90 and a high of 5,521.40 in intraday trade.

The BSE Mid-Cap index fell 0.64% and the BSE Small-Cap index declined 0.71%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2885 crore, lower than Rs 3223.17 crore on Thursday, 23 February 2012.

Positive 1095 Negative 1820 Unchanged 123
From the 30 share Sensex pack, 16 fell and rest rose.

Adani eyes acquisition of BG shares in Gujarat Gas

In the latest development, Ameet Desai, the spokesperson of Adani group, announced that the firm has been assessing the possible purchase of BG Group Plc’s equity shares in Gujarat Gas.

ING to put on sale Asia merger units individually from other businesses

ING Groep NV has been aiming to put on sale its three insurance merger units in Asia individually from its other Asia units in order that the total sale will not be seized by discussions with affiliates.

Videocon not keen on selling Mozambique unit

Royal Dutch Shell Plc already received 992.4 million pounds bid for Cove Energy, a firm based in Mozambique, while Videocon does not intend to put on sale the Mozambique unit at present.

IPO of MCX with complete subscription on day 2

In the latest development, the IPO of MCX or Multi Commodity Exchange to accumulate utmost USD 134 million has gained complete subscriptions during day two of its market entry.

IPO of MCX gets 91% subscription on debut day

In the latest development, the IPO or initial public offering of MCX has obtained 91% subscription this day on its debut day wherein it received positive remarks from retail together with institutional stockholders.

IPO of BCB Finance to be launched on February 23

BCB Finance has been embarking on the capital market by means of an IPO or initial public offering with 35.4 lakh equity shares having a face value worth Rs 10 each this coming February 23.

Abhijeet Power to accrue Rs 5,920 crore debt next month

Abhijeet Power Ltd, a firm that is unlisted generating 246 MW, has been aiming to accumulate Rs 5,920 crore debt for a coal-fired energy venture with 1,320 Megawatt capacity in the coming month.

Hero MotoCorp in technology sourcing deal with EBR

Hero MotoCorp, the nation’s biggest two-wheeler manufacturer, announced this day that it already embarked on a technology sourcing agreement with Amercian firm Erik Buell Racing wherein it aims to expand its operations in the high-end bike sector.

Allahabad Bank eyes FY12 margins beyond 3.5%

The chairman of Allahabad Bank, JP Dua, announced that he has been eyeing margins of greater than 3.5% as well as a credit expansion of more or less 18% for the whole year.

Reliance Brands, Iconix in merger

In the latest development, Reliance Brands already made a joint venture with Iconix Brand Group to put on sale the Amercian firm’s fashion as well home brands in India.

Thermax eyes India with 15,000-20,000 MW orders by FY14

The managing director of Thermax, MS Unnikrishnan, announced that they have been eyeing by FY14 or FY15 that India would be having orders in the range of 15,000 MW to 20,000 MW annually.

BSE Sensex slumps 1.54% as market goes cold

The BSE Sensex lost 283.36 points or 1.54% to settle at 18,145.25, its lowest closing level since 14 February 2012. The index jumped 95.17 points at the day's high of 18,523.78 in early trade, its highest level since 27 July 2011. The index fell 332.80 points at the day's low of 18,095.81 in late trade.

The S&P; CNX Nifty lost 101.80 points or 1.82% to settle at 5,505.35, its lowest closing level since 14 February 2012. Nifty hit a high of 5,629.95 in intraday trade, its highest level since 26 July 2011. The index hit a low of 5,491.35 in intraday trade.

The BSE Mid-Cap index tumbled 3.46% and the BSE Small-Cap index shed 3.24%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 3839 crore, higher than Rs 3537.89 crore on Tuesday, 21 February 2012.

Positive 769 Negative 2208 Unchanged 106
From the 30 share Sensex pack, 24 fell and rest rose.

Telenor to transfer India operation into latest unit

Telenor, a telecom operator in Norway, announced that it has been aiming to create a fresh unit in India to transfer its current operation, clients and staff into the latest firm.

Tata Motors to make two-fold investment in JLR

Tata Motors announced that it would be investing in two-fold in its Jaguar Land Rover brands to the amount of 1.5 billion pounds annually in order to introduce fresh merchandise and models, according to its CFO C.R. Ramakrishnan.

Reliance Industries to merge with Sibur of Russia

Reliance Industries announced this day that it would go for a USD 450 merger with Sibur, the biggest petrochemical firm of Russia, in order to construct a butyl rubber refinery in India.

Shriram EPC to buy bulk shares in Sree Jayajothi Cements

In the latest development, Shriram EPC announced this day that it will be purchasing equity shares in bulk in Sree Jayajothi Cements Ltd to have a joint venture entity in the cement sector.

BSE Sensex surges 0.76% as market begins hot

The BSE Sensex jumped 139.26 points or 0.76% to settle at 18,428.61, its highest closing level since 27 July 2011. The index jumped 181.51 points at the day's high of 18,470.86 in late trade. The index rose 4.45 points at the day's low of 18,293.80 in early trade.

The S&P; CNX Nifty surged 42.85 points or 0.77% to settle at 5,607.15, its highest closing level since 25 July 2011. The index hit a high of 5,621.50 and a low of 5,561.75 in intraday trade.

The BSE Mid-Cap index rose 0.91% and the BSE Small-Cap index gained 1.2%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 3521 crore, lower than Rs 4432.06 crore on Friday, 17 February 2012.

Positive 1676 Negative 1307 Unchanged 110
From the 30 share Sensex pack, 19 rose and rest fell.

TCS says IT to purchase around USD 50-400 million revenue size in 2012

During the 20th NASSCOM India Leadership Forum, N Chandrasekaran, the Managing Director and CEO of TCS, announced that the IT has been eyeing to make purchases in the range of USD 50-400 million revenue volume this year.

KPMG says world requires India to expand at 8-10%

According to Michael Andrew, the global chairman of KPMG International, India is set to expand in the range of 7% to 10% onwards but they only predict this not to last long while the world requires India to expand in the range of 8-10%.

Shipping Minister eyes more than 22 fresh ventures in 2012

G K Vasan, the Shipping Minister, announced this day that they already recommended to undertake more than 22 fresh ventures to the amount of Rs 16,000 crore in 2012 wherein five to six of those could come next month.

UAE, Kuwait funds commits to acquire shares in ONGC

In the latest development, supreme capital funds from Kuwait as well as United Arab Emirates have been included in the list of international investors that already committed to purchase stakes in Oil & Natural Gas Corp.

Syndicate Bank to accrue Rs 539 crore from state admin

Syndicate Bank announced this day that it has been aiming to accumulate Rs 539 crore by means of issue of preferential shares to the state admin this coming March 31, 2012.

Nirmal Bang recommends subscription to MCX IPO

Nirmal Bang has recommended subscription to the initial public offering or IPO of MCX or Multi Commodity Exchange as it states that the assessment is very positive at present stages.

Altret Bio-tech to launch IPO worth Rs 27 crore

Altret Bio-tech, a firm that deals with cultivation of jatropha curcas plants, already submitted its DRHP with the market regulator SEBI for an IPO which is worth Rs 27 crore.

JK Lakshmi rises cement costs due to coal price hike

JK Lakshmi Cement’s chief financial officer Sudhir Bidkar announced that cement costs were already increased by Rs 10 in Delhi for 50 kilo bag while in Gujarat, the increase was Rs 5 due to coal price hike.

Prestige Estate Projects eyes Rs 500 crore rental portfolio by 2015

Prestige Estates Projects’ chief financial officer Venkat K. Narayana announced that in 2012, the firm’s yearly rental income is predicted to reach in the range of Rs 180-185 crore while its total rental portfolio is eyed at about Rs 500 crore by 2015.

Andhra Pradesh economy expands at 8.33%

During the 11th Five Year Plan duration, Andhra Pradesh’s economy expanded at a remarkable 8.33% average growth rate that overtook the nation’s 7.94% GDP growth for the similar duration.

BSE Sensex climbs 0.75% as market expands

The BSE Sensex jumped 135.36 points or 0.75% to settle at 18,289.35, its highest closing level since 1 August 2011. The index jumped 269.07 points at the day's high of 18,423.06 in morning trade. The index rose 80.57 points at the day's low of 18,234.56 in mid-afternoon trade.

The S&P; CNX Nifty jumped 42.35 points or 0.77% to settle at 5,564.30, its highest closing level since 26 July 2011. Nifty hit a high of 5,606.70 in intraday trade. Nifty hit a low of 5,545.20 in intraday trade.

The BSE Mid-Cap index shed 0.05% and the BSE Small-Cap index fell 0.21%. Both these indices underperformed the Sensex.

The total turnover on BSE amounted to Rs 4406 crore, higher than Rs 3619.98 crore clocked on Thursday, 16 February 2012.

Positive 1449 Negative 1601 Unchanged 115
From the 30 share Sensex pack, 19 rose and rest fell.

NTPC favored by Supreme Court against Ansaldo bid

In the latest development, the Supreme Court announced this day that it favored NTPC as it rule against the High Court judgment related to the Ansaldo bid to the Rs 160 billion bumper project.

Reserve Bank approves $1.18 billion refinancing of Reliance Communications

Reliance Communications announced this day that it already obtained the approval of Reserve Bank for refinancing $1.18-billion of its foreign currency convertible bonds or FCCBs by a group of lenders from China.

NMDC merger unit with Severstal postponed

NMDC Ltd’s shared business enterprise with Severstal of Russia to establish a steel refinery in India that can produce 3 million tonnes of steel has been postponed due to over shareholding and interruption in mining linkages.

MindTree eyes better than Nasscom’s growth prediction of 11-14%

The chief financial officer of MindTree, Rostow Ravanan, announced that they should be able to surpass the 11-14% yearly expansion prediction of Nasscom or National Association of Software and Services Companies for the IT industry in India in FY13.

BSE Sensex drops 0.27% as market dips

The BSE Sensex was down 48.42 points or 0.27% to 18,153.99. The index shed 19.63 points at the day's high of 18,182.78 in late trade. The index lost 159.09 points at the day's low of 18,043.32 in mid-morning trade.

The S&P; CNX Nifty was down 10 points or 0.18% to 5,521.95. The Nifty hit a high of 5,531.40 and low of 5,483.75 in intraday trade.

The BSE Mid-Cap index rose 1.04% and the BSE Small-Cap index gained 0.96%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 3604 crore, lower than Rs 4139.38 crore clocked on Wednesday, 15 February 2012.

Positive 1640 Negative 1292 Unchanged 112
From the 30 share Sensex pack, 16 rose and rest fell.

BSE Sensex expands 1.98% as market rises again

The BSE Sensex jumped 353.84 points or 1.98% to settle at 18,202.41, its highest closing level since 1 August 2011. The index jumped 382.78 points at the day's high of 18,231.35 in late trade. The index rose 151.73 points at the day's low of 18,000.30 in opening trade.

The S&P; CNX Nifty jumped 115.90 points or 2.14% to settle at 5,531.95, its highest closing level since 27 July 2011. The Nifty hit a high of 5,542.10 and a low of 5,460.60 in intraday trade.

The BSE Mid-Cap index rose 2.1% and outperformed the Sensex. The BSE Small-Cap index gained 1.48% and underperformed the Sensex.

The total turnover on BSE amounted to Rs 4120 crore, higher than Rs 3556.76 crore on Tuesday, 14 February 2012.

Positive 1903 Negative 1079 Unchanged 101
From the 30 share Sensex pack, 27 rose and rest fell.

Reliance Power to hit 5,000 Megawatts goal by year-end

Reliance Power’s chief executive officer, JP Chalasani, announced that the plant load factor or PLF of Rosa I stood at 76% wherein it produced one billion units in the current quarter. Furthermore, the firm revealed that it is set to obtain 5,000 Megawatts goal by the end of the year.

Diamond Power Infra to invest Rs 753 crore for plant expansion

Diamond Power Infrastructure aims to make investment of Rs 753 crore to widen up its present production refinery at Vadodra to make conductors as well as medium voltage cables.

Fidelity, stakeholders make Rs 2 billion investment in Aptuit Laurus

Fidelity Growth Partners, the independent equity unit of Fidelity Worldwide Investment, together with current stakeholders already made an investment of Rs 2 billion in Aptuit Laurus Pvt Ltd, a pharmaceutical firm in India.

Lanco under negotiations to accrue utmost $750 million for biz growth

Lanco Infratech Ltd has been under negotiations with stakeholders to put on sale a number of equity shares in its energy unit to accrue $600 million to $ 750 million to finance widening of operations.

Reliance recommends to separate model township at SEZ in Haryana

Reliance already recommended to separate the model township at Haryana Jhajjar Special Economic Zones or SEZ wherein this is set to get the nod from the Haryana State Industrial and Infrastructure Development Corporation or HSIIDC.

Unitech impacted by decline in demand for shelters

The third rank realty firm of India by sales, Unitech Ltd, announced that the firm got affected by a decline in demand for shelters in an increasing interest rate surrounding.

Prime Minister requests Highways Ministry to grant 15 top ventures in 2012

Prime Minister Manmohan Singh announced this day that in order to hasten up thoroughfare ventures as well as reach goals; he requested the Road Transport and Highways Ministry to make certain the granting of 15 top ventures in 2012.

BSE Sensex hikes 0.43% as market in rampage

The BSE Sensex was up 75.73 points or 0.43% to 17,848.57, its highest closing level since 3 August 2011. The index gained 117.49 points at the day's high of 17,890.33 in late trade. The index fell 30.26 points at the day's low of 17,742.58 in early trade.

The S&P; CNX Nifty was up 25.85 points or 0.48% to 5,416.05, its highest closing level since 2 August 2011. Nifty hit a high of 5,428.05 and low of 5,377.95 in intraday trade.

The BSE Mid-Cap index rose 1.15% and the BSE Small-Cap index gained 0.83%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 3,129 crore, higher than Rs 3,111.75 crore clocked on Monday, 13 February 2012.

Positive 1619 Negative 1275 Unchanged 118
From the 30 share Sensex pack, 15 fell and rest rose.

IVRCL bags Rs 1,429.78 crore deals

IVRCL Assets & Holdings, the subsidiary of infrastructure firm IVRCL, already bagged deals to the amount of Rs 1,429.78 crore in thoroughfare, transportation, water as well as constructing segments.

Net interest margins increases in December: SBI

The government-managed State Bank of India, the nation’s largest lending firm, announced that its net interest margin increased in the quarter until December with a figure of 4.05%.

Amrutanjan Executives approves JV of Siva’s Soft Drink

Amrutanjan Health Care already made a joint venture with its beverage unit, Siva’s Soft Drink, producers of fruit juices named “Fruitnik” which was given the nod by their management committee.

Amway India eyes Rs 2,500 crore turnover in 2012

William S Pinckney, the Managing Director and CEO of Amway India, announced that the firm has been eyeing to obtain Rs 2,500 crore turnover in 2012 as it achieved Rs 2,130 crore turnover in 2011.

Tata Comm to accrue $500-600 million equity until 2015

Tata Communications has been eyeing for finances to the amount of USD 500 million to USD 600 million of equity until 2015 to retire arrears as it aims to make investment worth USD 200-250 million in the next financial year.

Muthoot Finance to accrue Rs 500 crore thru NCDs public issue

Muthoot Finance Limited announced that it already submitted its papers with BSE Limited for a public issue of secured NCDs or non-convertible debentures with a face value worth Rs 1,000 each in order to accrue Rs 500 crore.

MCX receives SEBI approval for IPO

The Chairman of Multi Commodity Exchange of India or MCX, Mr. Venkat Chary, announced that the firm already received the approval of SEBI, the principal market regulating body, regarding the launching of its IPO or initial public offering.

BSE Sensex surges 0.14% as market soars

The BSE Sensex advanced 24.15 points or 0.14% to settle at 17,772.84, its highest closing level since 9 February 2012. The index jumped 100.95 points at the day's high of 17,849.64 in late trade. The index fell 82.80 points at the day's low of 17,665.89 in early afternoon trade.

The S&P; CNX Nifty advanced 8.60 points or 0.16% to settle at 5,390.20, its highest closing level since 9 February 2012. Nifty hit a high of 5,421.05 and low of 5,351.40 in intraday trade.

The BSE Mid-Cap index rose 0.46% and the BSE Small-Cap index rose 0.18%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 3097 crore, lower than Friday's (10 February 2012) Rs 3632.95 crore.

Positive 1531 Negative 1412 Unchanged 103
From the 30 share Sensex pack, 19 rose and rest fell.

Increasing prices in Europe led to Tata Steel’s big Q3 loss

HM Nerurkar, the managing director of Tata Steel, revealed that the firm’s enormous Rs 600 crore deficit in the previous quarter was due to increasing input prices as well as slow market in Europe.

LANXESS makes nearly Rs 1,000 crore investment in India

LANXESS, the top firm that deals in specialty chemicals as well as the worldwide market major in synthetic rubber, already made an investment worth nearly Rs 1,000 crore in India since it predicted the nation to develop a USD 80-100 billion specialty chemical industry by 2020.

Talwalkars eyes FY12 operating margins about 40%

The CFO of Talwalkars Better Value Fitness, Anant Gawande, announced that the firm has been in track to reach its whole year guidance wherein operating margins has been eyed to come in at about 40% in the current fiscal year.

Rangarajan displeased at Dec IIP, eyes better GDP in FY13

The Economic Advisory Council chairman of the Prime Minister, C Rangarajan, has shown displeasure with the December IIP figure while some key gauges such as PMI and auto sales have been performing better. He eyes GDP to come in at 7.5% in the next financial year.

CEAT eyes better performance in FY13

The managing director of CEAT Ltd, Anant Goenka, has been eyeing that their firm will perform better in the next financial year on back of the firm’s Halol refinery almost reaching its maximum production usage.

Economy of India predicted to soar in 2013

According to Videocon’s chairman and managing director, Venugopal Dhoot, he has been eyeing that the economy of India will surge in 2013 amidst the economic slowdown that hit the nation during the year.

Numeric Power to invest in solar power business

R Chellappan, the managing director of Numeric Power Systems, revealed that the profits that they obtained from selling their UPS subsidiary are set to be spent to their solar power business.

Vodafone India eyes IPO next year

The non-executive chairman of Vodafone India, Analjit Singh, announced that the firm’s launching of initial public offering or IPO should happen in 2013. Furthermore, he clarified that Vodafone can still raise its equity shares.

BPCL eyes GRMs in Q4 to be the same with Q3

The director for finance of BPCL, S Varadarajan, announced that they have been looking forward to obtain the same GRMs or gross refining margins to Q3 in the last quarter of FY12 as they attained USD 3.48 per barrel GRMs in the previous quarter.

BSE Sensex plunges 0.46% as market ends week on red

The BSE Sensex shed 82.08 points or 0.46% to settle at 17,748.69, its lowest closing level since 8 February 2012. The index declined 203.61 points at the day's low of 17,627.14 in mid-afternoon trade. The index rose 59.36 points at the day's high of 17,890.11 in mid-morning trade, its highest level since 28 October 2011.

The S&P; CNX Nifty shed 30.75 points or 0.57% to settle at 5,381.60, its lowest closing level since 8 February 2012. The index hit a low of 5,341.05 in intraday trade. The index hit a high of 5,427.75 in intraday trade, its highest level since 4 August 2011.

The BSE Mid-Cap index rose 0.11% and outperformed the Sensex. The BSE Small-Cap index fell 0.02% and outperformed the Sensex.

BSE clocked turnover of Rs 3610 crore, higher than Rs 3326.44 crore on Thursday, 9 February 2012.

Positive 1435 Negative 1513 Unchanged 106
From the 30 share Sensex pack, 22 fell and rest rose.

Tata Global, PepsiCo merger sees Rs 700 crore revenue in 5 years

RK Krishna Kumar, the Vice-Chairman of Tata Global Beverages, announced that they have been eyeing that 5 years from now, the merger revenue of NourishCo, their merger unit with PepsiCo India, will be Rs 700 crore.

Flipkart acquires Letsbuy worth USD 20-25 million

The largest retailer of books as well as electronic devices of India on the web, Flipkart, already purchased Letsbuy worth around USD 20 million to USD 25 million as they aim to solidify their rank better than Amazon.com Inc.

Grant Thornton India eyes 2012 as year of mergers, acquisitions

Grant Thornton India has been predicting that 2012 will be the year of joint ventures as well as purchases for Indian conglomerates on back of the present economic slowdown, according to Harish HV.

Boeing asked by Air India for USD 1 billion due to delivery delays

Air India has been asking Boeing Co to pay for more or less USD 1 billion due to the interruption in aircraft deliveries wherein in 2005, the firm ordered 50 long-range Boeing jets to the amount of around USD 6 billion.

BSE Sensex expands 0.7% as market still on green

The BSE Sensex jumped 123.43 points or 0.7% to settle at 17,830.75, its highest closing level since 3 August 2011. The index surged 172.14 points at the day's high of 17,879.46 in late trade. The index declined 97.89 points at the day's low of 17,609.43 in morning trade.

The S&P; CNX Nifty jumped 44.20 points or 0.82% to settle at 5,412.35, its highest closing level since 2 August 2011. The index hit a high of 5,423.40 and a low of 5,338.90 in intraday trade.

The BSE Mid-Cap index rose 1.27% and the BSE Small-Cap index gained 1.18%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 3310 crore, lower than Rs 3630.37 crore on Wednesday, 8 February 2012.

Positive 1836 Negative 1059 Unchanged 122
From the 30 share Sensex pack, 21 rose and rest fell.

Nasscom predicts IT-BPO export to expand 11-14% in FY13

In the recent development, the National Association of Software and Service Companies or Nasscom announced that software as well as BPO export most probably will expand at 11-14% in the next financial year.

TCS, Mitsubishi to establish merger unit in Japan

The leading software exporting firm of India, Tata Consultancy Services or TCS, and Mitsubishi Corp of Japan are set to have a shared business enterprise worth USD 5 million to establish a delivery hub in Japan, according to N Chandrasekaran, the chief executive of TCS.

Sakthi Sugars to gain revenues in Q4 from improved prices

According to the managing director of Sakthi Sugars, M Manickam, enhanced prices as well as recoveries are set to contribute for getting them improved revenues in the next quarter of the current financial year.

Bharat Forge eyes better margins from enhanced product mix

Bharat Forge has been looking forward to getting better margins on back of enhanced product mix as it obtained higher net profit of Rs 103.13 crore in the recent quarter versus last year’s Rs 82.61 crore.

Industrial growth in December eyed at 3.4%

According to 26 economy experts, the Indian Industrial Production or IIP most likely expanded at a slower yearly pace of 3.4% last December which was below the 5.9% last November due to sluggish infrastructure volume as well as domestic demand.

Thomas Cook eyes selling 77% holdings in India business

Thomas Cook, the number two largest travel company of Europe by sales, announced that it has been eyeing to put on sale its 77% holdings in Thomas Cook India while it aims to reduce its arrears worth 890 million pounds.

Orchid Chemicals sustains 20-25% growth rate guidance

The chairman and managing director of Orchid Chemicals, K Raghavendra Rao, announced that the lofty interest rates as well as forex deficits brought downturn in the revenues of the firm while they have sustained guidance of 20% to 25% growth rate.

BSE Sensex grows 0.48% as market revived

The BSE Sensex advanced 84.87 points or 0.48% to settle at 17,707.32, its highest closing level since 28 October 2011. The index jumped 186.76 points at the day's high of 17,809.21 in afternoon trade. The index fell 42.86 points at the day's low of 17,579.59 in late trade, its lowest level since 3 February 2012.

The S&P; CNX Nifty jumped 33 points or 0.62% to settle at 5,368.15, its highest closing level since 3 August 2011. The index hit a high of 5,396.90 and a low of 5,325.20 in intraday trade.

The BSE Mid-Cap index rose 1.45% and the BSE Small-Cap index gained 0.89%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 3416 crore, lower than Rs 3452.77 crore on Tuesday, 7 February 2012.

Positive 1734 Negative 1162 Unchanged 102
From the 30 share Sensex pack, 22 rose and rest fell.

SBI sees increased FY12 profits, aims more international businesses

SBI, the nation’s hugest government-run lending firm, announce this day that their profit in the current financial year is set to overtake the figure obtained in the previous year as they aim to widen up businesses abroad via units.

Temasek puts on sale 1.38% stake in ICICI Bank

Temasek Holdings, the Singapore state investing firm, has currently put on sale the 1.38% stake in ICICI Bank, the rank number two lending firm in India, in a pact to accumulate utmost USD 303 million.

JK Lakshmi Cements prices buyback utmost at Rs 70 per share

Shailendra Chouksey, JK Lakshmi Cements’ full-time director, announced that the management committee already gave a cost to the share buyback at a maximum amount of Rs 70 for every share.

Pranab sees unsatisfactory 6.9% FY12 GDP growth prediction

Pranab Mukherjee, the Finance Minister, announced this day that the substandard 6.9% GDP growth prediction for the current financial year was caused by the slump in industrial capacity as well as investment expansion.

BGR Energy sees NTPC to release Rs 34,000 crore order before March

The NTPC order worth Rs 34,000 crore for superficial boilers were postponed wherein it was predicted to be discharged from NTPC by the end of February, according to the chairman and managing director of BGR Energy, BG Raghupathy.

Present venture traffic to expand 10-12% in FY12 says IL&FS; Trans

The executive director of IL&FS; Transportation, Mukund Sapre, announced that the major contributor to the firm’s revenues in the previous quarter was the construction vertical wherein they eye 10-12% traffic expansion in its ongoing ventures in the present fiscal year.

India eyes building 7 huge production hubs

The nation’s administration has been currently developing seven huge production centers nationwide wherein a plan of developing another five is being eyed, according to the joint secretary at the Department of Industrial Policy and Promotion, Talleen Kumar.

BSE Sensex slumps 0.48% as market slows down

The BSE Sensex shed 84.86 points or 0.48% to settle at 17,622.45, its lowest closing level since 3 February 2012. The index surged 124.73 points at the day's high of 17,832.04 in mid-morning trade, its highest level since 28 October 2011. The index fell 124.82 points at the day's low of 17,582.49 in late trade.

The S&P; CNX Nifty lost 26.50 points or 0.49% to settle at 5,335.15, its lowest level since 3 February 2012. The index hit a high of 5,413.35, its highest level since 4 August 2011. The index hit a low of 5,322.95 in intraday trade

The BSE Mid-Cap index fell 0.81% and underperformed the Sensex. The BSE Small-Cap index declined 0.44% and outperformed the Sensex.

BSE clocked turnover of Rs 3440 crore, higher than Rs 3193.63 crore on Monday, 6 February 2012.

Positive 1234 Negative 1635 Unchanged 110
From the 30 share Sensex pack, 22 fell and rest rose.

BSE Sensex surges 0.58% as market gains

The BSE Sensex jumped 102.35 points or 0.58% to settle at 17,707.31, its highest closing level since 31 October 2011. The index surged 224.76 points at the day's high of 17,829.72 at the onset of the trading session. The index fell 9.86 points at the day's low of 17,595.10 in mid-afternoon trade.

The S&P; CNX Nifty jumped 35.80 points or 0.67% to settle at 5,361.65, its highest closing level since 3 August 2011. The index hit a high of 5,390.05 and a low of 5,327.25 in intraday trade.
BSE clocked turnover of Rs 3180 crore, higher than Rs 2,930.76 crore on Friday, 3 February 2012.

Positive 1852 Negative 1064 Unchanged 100
From the 30 share Sensex pack, 21 rose and rest fell.