BSE Sensex rises 2.03% as market in progress

The BSE Sensex jumped 345.59 points or 2.03% to settle at 17,404.20, its highest closing level since 21 March 2012. The index jumped 380.90 points at the day's high of 17,439.51 in late trade. The index rose 46.61 points at the day's low of 17,105.22 in early trade.

The S&P; CNX Nifty jumped 116.70 points or 2.25% to settle at 5,295.55, its highest closing level since 21 March 2012. The Nifty hit a high of 5,307.10 in intraday trade. The Nifty hit a low of 5,203.65 in intraday trade.

The BSE Mid-Cap index rose 2.35% and the BSE Small-Cap index gained 2.04%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 3684 crore, higher than Rs 2003.70 crore on Thursday, 29 March 2012.

Positive 1992 Negative 960 Unchanged 110
From the 30 share Sensex pack, 26 rose and rest fell.

April to February financial loss stands Rs 494000 crore

The financial loss of India in the period April to February stood at Rs 494000 crore or 94.6 percent of the modified whole financial year 2011-2012 goal, according to the government statistics.

Increase of petrol cost by oil firms looms

The oil retailing firms such as Indian oil Corp, Hindustan Petroleum and Bharat Petroleum have become optimistic to implement with the increase in the near future in the range of Rs 3 to Rs 5.

Unitech stirs District Court, Gurgaon versus Telenor

Unitech, the realty firm, already moved District court, Gurgaon versus Telenor, the firm’s associate in shared business enterprise Uninor as it cited Arbitration Act’s Section 9 as well as asked for injuction versus Telenor.

Coal ministry assures CIL to sign FSA

During the conference last Thursday, Coal India already disagreed to submit to a government order demanding it to make sure the supply of 80 percent of the dedicated volume to energy firms by end of March wherein the Coal Ministry assures CIL is set to sign FSA.

Infrastructure capacity in February increases 6.8% Year-on-Year

The infrastructure segment production of India expanded 6.8% last February as compared to last year which is greater than the growing modified yearly expansion of 0.7% in the last month.

Vodafone, Tata granted as bidder for C&W; Worldwide

Tata Communications as well as Vodafone was granted additional time to make a decision if they still desire to be a bidder for Cable & Wireless Worldwide, a British telecoms entity.

Cairn India’s capex in FY13 is USD 1 billion amid higher cess

In the latest development, the capital expenditure of Cairn India in the financial year 2012-2013 has been anticipated to come in USD 1 billion even though cess on crude will get higher.

Retailers must increase petrol costs by Rs 7.5 per liter

G C Chaturvedi, the Oil Secretary, announced that the retailing firms should increase petrol costs more or less Rs 7.5 every liter to compensate for the deficit in revenues brought upon by them.

SBI could receive investment worth Rs 7,900 crore from government

In the latest development, State Bank of India or SBI, the nation’s biggest lending firm, announced this day that they could possibly receive Rs 7,900 crore investment from the government on Thursday.

Fortis Healthcare under stake-sale negotiations with PE companies

Fortis Healthcare India Ltd, the hospitals chain, announced that they have been negotiating with private equity companies Carlyle Group as well as TPG Capital India to put on sale 15-20% stake.

Lupin eyes 20-25% expansion in American-based unit in FY13

Lupin, a pharmaceutical leading firm, announced that it has been looking forward for its American-based unit to expand 20-25% in the financial year 2012-2013 on back of strong pipeline of generic medicines.

L&T;, Samsung Techwin to support artillery gun scheme

Larsen & Toubro Limited or L&T; as well as South Korea’s Samsung Techwin Co, already made an announcement that both firms are set to take part in the Tracked Self Propelled Artillery Programme of the Indian Army.

Kingfisher halts businesses to various destinations

Kingfisher Airlines announced this day that it has halted businesses for the time being in many destinations according to its modified flight schedule while majority of its workers at those locations was requested to settle at their residences.

IPO of NBCC receives subscription of 3.7 times

The IPO or initial public offer of NBCC or National Buildings Construction Corporation, a government-run construction firm, which already received oversubscription of 3.7 times at present, has concluded this day.

L&T; Finance purchases mutual fund unit of Fidelity in India

The unit of L&T; Finance Holdings or LTFH, L&T; Finance or LTF, already purchased FIL Fund Management or Fidelity AMC as well as FIL Trustee firm, which operates in mutual fund sector in India.

Mandhana Industries reduces revenue guidance in FY12 to Rs 1,000-1,025 crore

Mandhana Industries, a textile firm, announced that it already reduced its revenue guidance to the range of Rs 1,000 crore to Rs 1,025 crore for the present financial year from Rs 1,050- 1,100 crore.

NHAI optimistic of obtaining 7,300 km goal for FY12

According to the chairman of NHAI or National Highways Authority of India, AK Upadhyay, they are optimistic that they will be able to attain the goal of 7,300 km road development in the current financial year.

Government mulls selling 10% equity shares in NALCO

The state admin has been mulling to sell 10% equity shares in National Aluminum Co Ltd or NALCO, a government-managed firm, which is included in its asset sale scheme, according to S.S. Palanimanickam, the Minister of State for Finance.

REpower of Suzlon seals contract for offshore venture in Germany

REpower Systems SE, the unit of Suzlon Energy, announced that it already sealed a deal with PNE Wind AG to provide 54 turbines to be established for the Gode Wind I wind farm near German North Sea.

L&T; bags Rs 1,700 crore order from Tata Steel

Larsen & Toubro, a leading engineering as well as construction firm, announced that it already attained a deal from Tata Steel to the amount of Rs 1,700 crore for its latest refinery that produces 6 million tonnes of steel yearly to be located at Kalinganagar in Odisha.

BSE Sensex sinks 1.78% as market in deep trouble

The BSE Sensex lost 308.96 points or 1.78% to 17,052.78, its lowest closing level since 30 January 2012. The index fell 339.89 points at the day's low of 17,021.85 in late trade. The index rose 15.85 points at the day's high of 17,377.59 in early trade.

The S&P; CNX Nifty shed 93.95 points or 1.78% to 5,184.25, its lowest closing level since 30 January 2012. The index hit a low of 5,174.90 and a high of 5,274.95 in intraday trade.

The BSE Mid-Cap index fell 1.6% and the BSE Small-Cap index declined 1.4%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 3784 crore, higher than Rs 2,371.70 crore clocked on Friday, 23 March 2012.

The barometer index, BSE Sensex, has fallen 699.90 points or 3.94% in March 2012 so far (till 26 March 2012). The index has surged 1,597.86 points or 10.33% in calendar 2012 so far (till 26 March 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,916.92 points or 12.66%. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 2,758.36 points or 13.92%.

Positive 919 Negative 1955 Unchanged 113
From the 30 share Sensex pack, all fell.

KKR employs Singh as director of India subsidiary

Tashwinder Singh, an executive officer with Citigroup, has been employed by Kohlberg Kravis Roberts & Co. to become its director, according to the American-based private equity firm this day.

Maruti to discuss royalty agreement with Suzuki Motor

Maruti Suzuki, the biggest passenger auto manufacturer of India, looms to have another discussion about royalty arrangement with the firm’s parent company which is Suzuki Motor Co of Japan.

REC eyes to accrue USD 1 billion via FCCB

Rural Electrification Corporation’s director of finance, HD Khunteta, announced that the Budget 2012-13 has various recommendations wherein the firm has been eyeing to accrue USD 1 billion by means of FCCB as well as USD 500 million via ECB.

TCI can divest shares in Coal India if not happy

In the latest statement made by Alok Perti, the Coal Secretary, he announced that in the case that TCI would be not happy, the firm has the option to put on sale its equity shares in Coal India.

Rolta India seals financing deal for buyback via FCCB

Rolta India, an I.T. firm, announced that it already sealed a financing deal worth USD 135 million by means of ECB or external commercial borrowings in order to have buyback as well as make redemption of its Zero Coupon FCCB or Foreign Currency Convertible Bonds which is due this coming June 29, 2012.

Deficit at Karnataka more than Rs 12,000 crore

With regard to coal auction, according to the chief conservator of forests, UV Singh, IFS, Lake Development Authority predicts that the deficit at Karnataka to come in more than Rs 12,000 crore.

GAIL sees venture assets, long-term agreements

GAIL India Ltd, the gas unit managed by the government, announced through its chairman that it has been assessing many recommendations for equity shares as well as long-term supply agreements in the Southeast Asia, United States along with Middle East.

1-year extension for tax concessions given to J&K; industries

Around Rs 500 crore worth of tax concessions granted to Jammu and Kashmir industrial segment was already given another year of extension, according to S S Slathia, the Minister for Industries and Commerce.

Shasun Pharma aims biz widening worth Rs 250 crore

The managing director of Shasun Pharmaceuticals, Abhaya Kumar, announced that the firm is gearing up for the planned widening of operations in a big scale wherein above Rs 250 crore is to be infused in Vizag and some places.

Heidelberg Cement eyes better demand expansion amid price rise

Heidelberg Cement has been eyeing to hit two-digit demand expansion in the current financial year amidst the latest price hikes, according to Ashish Guha, the firm’s chief executive and managing director.

Kalyani Steel to stop Karnataka biz if ban not lifted

Kalyani Steel surged 10.2% on back of anticipations of the partial lifting of the Karnataka mining ban wherein the firm announced that they are determined to halt Karnataka operations if lifting of the ban is not implemented.

ONGC profit in FY13 to be hurt by taxes by Rs 5,000 crore

In the latest statement made by the chairman of Oil & Natural Gas Corp, the firm’s profit before tax is set to be hurt by Rs 5,000 crore in the financial year 2012-2013 on back of budget proposals to accrue duties on oil capacity and a hike in service and added taxes.

Government to grant 16 oil and gas blocks in ninth round of NELP

S Jaipal Reddy, the Oil Minister, announced that the Cabinet Committee on Economic Affairs already gave its approval on granting of 16 oil and gas blocks which have been bid for in the ninth round of NELP or New Exploration Licensing Policy.

Market borrowing below Rs 4.79 lakh crore says R Gopalan

According to R Gopalan, he is optimistic that the state admin’s market borrowing figure to the outer limit amount of Rs 4.79 lakh crore wherein this might be lesser by Rs 10,000 crore to Rs 20,000 crore.

CEO of PepsiCo receives compensation worth $17.1 million

Indra Nooyi, the Chief Executive of PepsiCo Inc, already obtained an entire compensation to the amount of USD 17.1 million in the previous year which was 6% higher than 2010 although the firm missed its performance goals.

BSE Sensex surges 0.96% as market still on green

The BSE Sensex jumped 165.27 points or 0.96% to settle at 17,361.74, its highest closing level since 21 March 2012. The index jumped 261.88 points at the day's high of 17,458.35 in late trade. The index fell 17.14 points at the day's low of 17,179.33 in morning trade.

The S&P CNX Nifty surged 49.75 points or 0.95% to settle at 5,278.20, its highest closing level since 21 March 2012. The index hit a high of 5,312 and a low of 5,220 in intraday trade.

The BSE Mid-Cap index rose 0.61% and the BSE Small-Cap index gained 0.4%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2358 crore, lower than Rs 2984.72 crore on Thursday, 22 March 2012.

Positive 1470 Negative 1431 Unchanged 121
From the 30 share Sensex pack, 22 rose and rest fell.

BSE Sensex rises 1.65% as market continues growth

The BSE Sensex was up 285.53 points or 1.65% to 17,601.71, its highest closing level since 15 March 2012. The index gained 306.69 points at the day's high of 17,622.87 in late trade. The index declined 40.30 points at the day's low of 17,275.88 in early trade.

The S&P; CNX Nifty was up 90.10 points or 1.71% to 5,364.95, its highest closing level since 15 March 2012. The index hit a high of 5,372.35 and a low of 5,256 in intraday trade.

The BSE Mid-Cap index rose 1.95% and outperformed the Sensex. The BSE Small-Cap index gained 1.23% and underperformed the Sensex.

Positive 1758 Negative 1136 Unchanged 130
From the 30 share Sensex pack, 25 rose and rest fell.

Jaguar Land Rover seals merger with China’s Chery Auto

Jaguar Land Rover or JLR already sealed a merger deal with Chery Automobile Co wherein the JV unit will be producing as well as putting on sale cars in China as agreed upon by the two firms.

Kingfisher to cancel flights abroad starting March 25

Kingfisher Airlines announced that it already made a decision to cancel each and every flight abroad starting March 25 and more limited local operations although the state admin gave a warning that the carrier’s license might be revoked if safety precautions are not met.

Lafarge eyes business growth in India

Bruno Lafont, the Chairman and CEO of Lafarge Global, announced that they have been aiming to expand its business in India wherein they obtained 8 MT cement production capacity in the country.

Hard decisions required for 9% expansion says Prime Minister

Manmohan Singh, the Prime Minister, announced that it necessitated hard decisions to achieve 9% expansion goal wherein he requested political parties to avoid constricted supporter approach as well as stand together.

Rs 730 crore owed by commercial establishments to NDMC

According to the executives of the NDMC or New Delhi Municipal Council, the commercial establishments that are operational in the VVIP locations of the country’s principal city owe more than Rs 730 crore as license charge to them.

Reliance Power attains court nod on Andhra unit

Reliance Power announced this day that they already attained a restraining order from the Delhi High Court from “coercive steps” versus their Andhra Pradesh energy venture with 4,000 Megawatts capacity.

Jet Air eyes to accrue finances thru ECB course

The senior vice president for finance of Jet Airways, M Shivkumar, obtained 29.8% market share last month wherein they have been aiming to accrue finances by means of ECB course.

Tech Mahindra, Mahindra Satyam eye $2.4 billion revenue from JV

The executive committee of the Tech Mahindra as well as Mahindra Satyam gave its approval to the joint venture of the two firms in exportation of software services with a revenue goal of USD 2.4 billion.

ICICI Bank introduces Sapphiro credit card

ICICI Bank, the biggest private bank, announced this day that they have introduced a fresh credit card named Sapphiro which is a super premium merchandise in the wealth management clientele sector of the bank.

GVK to reduce shares in coal, rail, port ventures in Australia

GVK Power & Infrastructure Ltd has been expecting to put on sale its equity shares in the Alpha coal venture as well as Australian port and rail stocks to aid accrue USD 10 billion worth of the ventures.

RCF sees turnover in FY13 at Rs 7,500 crore

RCF’s chairman and managing director, RG Rajan, announced that the fertilizer funds stated in the Union Budget for the financial year 2012-2013 already fastened at Rs 61,000 crore whereas they expect Rs 7,500 crore turnover in FY13.

Amteck India accrues $130 million thru FCCB

Amtek India has been aiming to accumulate funds wherein it already set the price at USD 130 million for issuance in foreign currency convertible bonds to expire in 2017.

Schneider Electric Infrastructure makes listing on NSE at Rs 64

Schneider Electric Infrastructure or SEIL already made enlisting on the BSE as well as NSE this day wherein the stock obtained Rs 65 price at the opening on the BSE while on the NSE, it was Rs 64.

Reserve Bank eyes budget proposals to moderate inflation

In the latest statement made by the Reserve Bank this day, it stressed out that the Budget proposals of Pranab Mukherjee, the Finance Minister, is set to aid in easing out inflation in the range of 6-7%.

Customs duty slash to conserve 10% cost on importation of coal

In the latest development, the GMR Infrastructure’s group chief financial officer, A Subba Rao, announced that the customs duty slash is set to assist in conserving 10% cost on importation of coal.

Mining tax minimal in 5-7 years says Gujarat NRE Coke

Gujarat NRE Coke’s Arun Kumar Jagatramka announce that the effect of the mining tax, wherein the state admin already made a decision for effectiveness on July 1, most likely will be negligible in a span of 5-7 years at minimum.

Tech Mahindra, Mahindra Satyam confer JV details today

The executive committees of Tech Mahindra as well as Mahindra Satyam have conferred this day to consider joint venture conditions wherein they most probably entertain joint venture recommendations.

NBCC IPO price range set at Rs 90-106 per share

Kamal Nath, the Urban Development Minister, announced that the state admin already set Rs 90-106 per share as the issue price range for the IPO of National Buildings Construction Corporation or NBCC.

BSE Sensex rises 0.25% as market surges up

The BSE Sensex was up 42.81 points or 0.25% to settle at 17,316.18, its highest closing level since 16 March 2012. The index declined 61.64 points at the day's low of 17,211.73 in afternoon trade, its lowest level since 7 March 2012. The index gained 136.76 points at the day's high of 17,410.13 in morning trade.

The S&P CNX Nifty was up 17.80 points or 0.34% to 5,274.85, its highest closing level since 16 March 2012. The index hit a low of 5,233.25 in intraday trade, its lowest level since 7 March 2012. The index hit a high of 5,297.35 in intraday trade.

The BSE Mid-Cap index rose 0.56% and outperformed the Sensex. The BSE Small-Cap index fell 0.03% and underperformed the Sensex.

BSE clocked turnover of Rs 2491 crore, higher than Rs 2401.46 crore on Monday, 19 March 2012.

Positive 1335 Negative 1542 Unchanged 122
From the 30 share Sensex pack, 18 rose and rest fell.

ICICI Bank CEO sees FY13 fiscal deficit goal realistic

The Finance Minister has been predicting the fiscal deficit in FY13 at 5.1%. On the other hand, the managing director as well as the chief executive officer of ICICI Bank expressed that the goal is practical but high.

Government to invest utmost Rs 7,000 crore in SBI

India is set to infuse Rs 6,000-7,000 crore in State Bank of India within the following week, according to D.K. Mittal, the banking secretary. Furthermore, the state admin is the biggest investor of the bank.

NPCIL-NALCO Power Company Limited gets incorporated last March 2

The latest merger unit of NALCO as well as Nuclear Power Corporation of India Limited or NPCIL conducted its initial conference this day wherein the name of the recent merger unit is NPCIL-NALCO Power Company Limited and it was incorporated last March 2.

BSE Sensex slumps 1.19% as market drops again

The BSE Sensex lost 209.65 points or 1.19% to 17,466.20, its lowest closing level since 7 March 2012. The index declined 249.27 points at the day's low of 17,426.58 in mid-afternoon trade. The index jumped 195.15 points at the day's high of 17,871 in mid-morning trade.

The S&P; CNX Nifty shed 62.60 points or 1.16% to 5,317.90, its lowest closing level since 7 March 2012. The index hit a low of 5,305 and a high of 5,445.65 in intraday trade.

The BSE Mid-Cap index fell 0.68% and the BSE Small-Cap index declined 1.12%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 3565 crore, higher than Rs 2767.92 crore on Thursday, 15 March 2012.

Positive 1053 Negative 1802 Unchanged 122
From the 30 share Sensex pack, 21 fell and rest rose.

Industrial growth in FY12 predicted to come at 4-5%

Pranab Mukherjee, the Finance Minister, already made a prediction about the growth rate of the industrial sector wherein it is most likely to come in the range 4-5% in the present financial year.

Airlines of India eyed to have beyond $2.5 billion deficit in FY13

CAPA or Centre for Asia-Pacific Aviation has been looking forward for the airline industry of India to have deficit beyond USD 2.5 billion in the coming financial year if oil costs hit USD 135 per barrel, according to the its CEO for South Asia operations.

2.5% growth rate predicted for agriculture sector in FY12

The agriculture sector as well as the allied sector is predicted to attain a 2.5% growth rate in the entire financial year 2011-2012 wherein the agriculture has contributed for the 13.9% of GDP or Gross Domestic Products.

L&T; Construction bags orders in March worth Rs 1,140 crore

In the latest development, Larsen & Toubro announced that its construction unit already bagged orders in March to the amount of Rs 1,140 crore in the buildings as well as power verticals.

Growth prediction in FY13 to be near 6.5%: Rahul Khullar

Rahul Khullar, the Commerce Secretary, made a statement that the growth prediction revelaed this day in the Economic Survey has been very positive wherein he looks forward that it will be near 6.5% in the coming financial year.

Harisons Steel to launch IPO worth Rs 60 crore soon

Harisons Steel, a Maharashtra-based firm, already submitted its DRHP or draft red herring prospectus with the market regulator SEBI for the IPO or initial public offering worth Rs 60 crore.

IPO of NBCC to be launched this March 22

National Buildings Construction Corporation or NBCC announced that it will launch in the market to be subscribed its 1.2 crore stake IPO this coming Thursday, March 22, by means of 10% stake dilution.

BSE Sensex plunges 1.36% as market falters

The BSE Sensex shed 243.45 points or 1.36% to settle at 17,675.85, its lowest level since 12 March 2012. The index declined 297.17 points at the day's low of 17,622.13 in late trade. The index fell 1.05 points at the day's high of 17,918.25 in early trade.

The S&P; CNX Nifty lost 83.40 points or 1.53% to settle at 5,380.50, its lowest level since 12 March 2012. The index hit low of 5,362.30 in intraday trade. The index hit a high of 5,462.50 in intraday trade.

The BSE Mid-Cap index underperformed the Sensex, falling 1.39%. The BSE Small-Cap index outperformed the Sensex, falling 0.97%.

BSE clocked turnover of Rs 2749 crore, lower than Rs 3177.15 crore on Wednesday, 14 March 2012.

Positive 1006 Negative 1848 Unchanged 129
From the 30 share Sensex pack, 21 fell and rest rose.

Aviation Ministry to get Rs 6,500 crore capital for Air India

The Cabinet is set to be moved by the Civil Aviation Ministry in the coming week to attain Rs 6,500 capital for reviving Air India wherein Boeing will make payment of USD 500 million to compensate to the domestic airline for Dreamliner’s delivery postponement.

Jaiprakash Power Ventures to accrue Rs 3,500 crore

Jaiprakash Power Ventures announced this day that its management committee already gave its nod to the firm’s aim to accrue utmost Rs 3,500 crore by means of issue of securities.

RK Infratel to launch IPO soon

RK Infratel already submitted its DRHP or draft red herring prospectus for IPO of 57.5 lakh equity shares with SEBI wherein the face value is worth Rs 10 each through dilution of 38.67% stake.

BSE Sensex climbs 0.59% as market still on rise

The BSE Sensex rose 105.68 points or 0.59% to settle at 17,919.30, its highest closing level since 24 February 2012. The index jumped 227.07 points at the day's high of 18,040.69 at the onset of the trading session. The index rose 23.60 points at the day's low of 17,837.22 in afternoon trade.

The S&P; CNX Nifty rose 34.40 points or 0.63% to settle at 5,463.90, its highest closing level since 23 February 2012. The index hit high of 5,499.40 in intraday trade. The index hit a low of 5,437.80 in intraday trade.

The BSE Mid-Cap index rose 0.32%. The BSE Small-Cap index fell 0.28%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 3162 crore, higher than Rs 2926.04 crore on Tuesday, 13 March 2012.

Positive 1405 Negative 1513 Unchanged 133
From the 30 share Sensex pack, 20 rose and rest fell.

Fiscal deficit in FY13 to come near 5.2% says FICCI

FICCI announced that the state admin’s fiscal deficit is set to exceed the Budget predictions of 4.6% in the present financial year and should be near 5.2% of GDP in the financial year 2012-2013.

CLB informs Unitech to acquire Telenor shares or demerge

The Company Law Board Chairman Justice BR Deshmukh announced that they already informed Unitech to have its decision by March 19 if it plans to acquire its merger associate Telenor’s 67% equity shares in Uninor or put on sale its 33% equity shares to the telecom company based in Norway.

IPO of Olympic Cards gets full subscription

The IPO of Olympic Cards obtained positive remarks from stockholders and attained complete subscription wherein the price range has been set at Rs 30-32 for every equity share of Rs 10 each.

BSE Sensex soars 1.28% as market advances

The BSE Sensex surged 225.95 points or 1.28% to settle at 17,813.62, its highest closing level since 24 February 2012. The index jumped 255.25 points at the day's high of 17,842.92 in mid-afternoon trade. The index rose 92.56 points at the day's low of 17,680.23 in early trade.

The S&P; CNX Nifty jumped 69.95 points or 1.31% to settle at 5,429.50, its highest closing level since 23 February 2012. The index hit high of 5,438.65 and a low of 5,390.80 in intraday trade.

The BSE Mid-Cap index rose 1.21% and the BSE Small-Cap index gained 1.03%. Both these indices underperformed the Sensex.

The total turnover on BSE amounted to Rs 2910 crore, higher than Rs 2353.78 crore clocked on Monday, 12 March 2012.

Positive 1712 Negative 1215 Unchanged 129
From the 30 share Sensex pack, 25 rose and rest fell.

News Corp arm sells shares in Hathway India worth Rs 360 crore

A subsidiary of Rupert Murdoch’s News Corp announced that it already made a sale of its 17.3% equity shares in Hathway Cable and Datacom Ltd to the amount of Rs 360 crore.

Azim Premji Trust to put on sale 3.5 crore stocks in Wipro

Azim Premji Trust announced that it has been aiming to put on sale utmost 3.5 crore stocks in Wipro, the nation’s top three software exporter, to subsidize its unit’s education activities.

Britannia, Bombay Realty enter Bangalore merger deal

Bombay Realty’s managing director, Jeh Wadia, announced that the firm has already sealed a joint venture with Britannia for the development of seven-eight acres land in Bangalore with a goal of lessening the debt until 2017.

M&M; Fin Serv CFO says marginal rate to come around 7-8%

The CFO of Mahindra & Mahindra Financial Services, V Ravi, announced that their margins went around 9.6% as they have been aiming to sustain their marginal rate of more or less 7-8%.

Ranbaxy Laboratories launches Moroccan subsidiary

The leading drug manufacturer of India by sales, Ranbaxy Laboratories, announced that its Moroccan subsidiary already began its operations which paved the way for the firm to directly embark into the pharmaceutical market worth USD 1 billion.

Industrial production rises to 6.8% in January

The industrial production expanded 6.8% in January 2012 as compared to December 2011 on back of good showing in the manufacturing sector wherein the IIP increase of 7.5% in factory output was higher in January.

Media & Entertainment sector to expand 15% by 2016

M&E; or media and entertainment sector of India already obtained an expansion of 12% last year to hit Rs 728 billion wherein the industry has been eyeing to obtain a 15% CAGR or compounded aggregate growth rate in four years.

BSE Sensex rises 0.48% as market hikes

The BSE Sensex advanced 84.43 points or 0.48% to settle at 17,587.67, its highest closing level since 3 March 2012. The index jumped 268.86 points at the day's high of 17,772.10 in opening trade, its highest level since 29 February 2012. The index fell 8.59 points at the day's low of 17,494.65 in early afternoon trade.

The S&P CNX Nifty advanced 26 points or 0.49% to 5,359.55, its highest closing level since 29 February 2012. The index hit a high of 5,421.90 and a low of 5,327.30 in intraday trade.

The BSE Mid-Cap index gained 1.06% and the BSE Small-Cap index rose 0.7%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 2339 crore, lower than Rs 3475.67 crore clocked on Friday, 9 March 2012.

Positive 1599 Negative 1246 Unchanged 121
From the 30 share Sensex pack, 17 rose and rest fell.

IIFL assigns Nipun Goel as president of investment banking

In the latest development, Infoline Group or IIFL made an announcement that it already assigned Nipun Goel to be the firm’s president of the financial services investment banking team.

Rajesh Exports makes FCCBs redemption worth USD 150 million

Rajesh Exports, the top exporter of gold and diamond jewellery, announced that it already made a triumphant redemption worth USD 150 million of its FCCBs or foreign currency convertible bonds.

Duty increase to push CV increase says Ashok Leyland

Ashok Leyland’s executive vice-chairman, R Seshasayee, announced that it is reasonable to make an assumption on a rollback of allowance on excise duty wherein there is a possibility for CV manufacturers to obtain the duty increase.

Larsen & Toubro broadens expansions following succession scheme

Larsen & Toubro’s shares broadened expansions following the firm appointed K. Venkataramanan to become its chief executive officer as well as managing director while A.M. Naik, the present managing director, has been assigned as executive chairman.

MCX’s share grows 38% on opening to Rs 1425

The biggest commodity exchange of India, MCX, witnessed its share grew 38% on opening in the BSE wherein the trade value was Rs 1425 as compared to the issue price worth Rs 1032.

February exports grow 4.3% Year-on-Year

The exports of India increased a yearly 4.3% to USD 24.6 billion in the month of February wherein the imports expanded 20.6% to USD 39.8 billion, according to the Trade Secretary Rahul Khullar.

Financial Ministry group endorses proposals on ARC

An advisory committee led by the joint secretary in the department of financial services, Alok Nigam, already made an endorsement of its proposals on policy modifications for Asset Reconstruction Companies or ARC.

BSE Sensex grows 2.09% as market rebounds

The BSE Sensex jumped 357.72 points or 2.09% to settle at 17,503.24, its highest closing level since 3 March 2012. The index gained 386.10 points at the day's high of 17,531.62 in late trade. The index rose 180.30 points at the day's low of 17,325.82 in early trade.

The S&P; CNX Nifty surged 113.10 points or 2.17% to settle at 5,333.55, its highest closing level since 3 March 2012. The index hit high of 5,342.30 and a low of 5,291.60 in intraday trade.

The BSE Mid-Cap index rose 2.16% and outperformed the Sensex. The BSE Small-Cap index gained 1.35% and underperformed the Sensex.

BSE clocked turnover of Rs 2650 crore, lower than Rs 2664.20 crore on Wednesday, 7 March 2012.

Positive 1845 Negative 989 Unchanged 113
From the 30 share Sensex pack, 23 rose and rest fell.

75% of staff received February dues says Jet Airways

Jet Airways announced this day that it already made payment for February salary dues to three-fourths of its employees during the initial seven days of March while the remaining employees are also scheduled to receive payments.

PVR Pictures to concentrate on distribution operation

The chief financial officer of PVR Pictures, Nitin Sood, announced that after the firm’s demerger from production units, it is set to become a fully-managed firm which will concentrate on the distribution operation.

Jubilant Foodworks eyes to open 85 more branches in FY13

The chief executive officer of Jubilant Foodworks, Ajay Kaul, already announced that they have been planning to launch 85 more branches in the financial year 2013 as their business already embarked into 60 more cities.

Glenmark receives US FDA approval for Imiquimod cream

The US Generics unit of Glenmark already obtained last ANDA or abbreviated new drug approval from US FDA or Food and Drugs Administration for Imiquimod cream for treating particular skin diseases such as solar keratoses as well as skin cancers.

HSBC sells unit in general insurance for USD 914 million

HSBC already sealed a deal to put on sale its general insurance unit to QBE Insurance Group and AXA Group for USD 914 million in cash while it goes further with its target of non-core assets divestment.

Titan eyes 200-250 branches in FY13

The managing director of Titan, Bhaskar Bhat, announced that the firm has been aiming to launch more or less 200-250 branches in the financial year 2013 as they eye 30% top-line growth in the present financial year.

Government to sell 10% stake in NBCC via IPO

Sidhartha Pradhan announced that the government has been aiming to put on sale 10% equity shares in NBCC by means of IPO or initial public offering course wherein the price range is to be determined in March 19 EGoM conference.

BSE Sensex plunges 0.16% as market on third straight slump

The BSE Sensex lost 27.77 points or 0.16% to settle at 17145.52, its lowest closing level since 30 January 2012. The index fell 164.52 points at the day's low of 17,008.77 in mid-afternoon trade. The index rose 66.06 points at the day's high of 17,239.35 in mid-morning trade.

The S&P; CNX Nifty shed 1.95 points or 0.04% to settle at 5,220.45, its lowest closing level since 31 January 2012. The index hit low of 5,171.45 and a high of 5,243.85 in intraday trade.

The BSE Mid-Cap index fell 0.08% and outperformed the Sensex. The BSE Small-Cap index dropped 0.61% and underperformed the Sensex.

BSE clocked turnover of Rs 2652 crore, lower than Rs 3037.53 crore on Tuesday, 6 March 2012.

Positive 1141 Negative 1690 Unchanged 125
From the 30 share Sensex pack, 17 fell and rest rose.

Telecom firms increase user base in January by 9.8 million

Telecom Regulatory Authority of India or Trai announced that the telecom firms increased mobile subscriber base in January by 9.88 million thus, amassing 936.12 million for the telephone subscriber base in India.

Government may target 4.3% fiscal deficit in FY13 says Fin Min

Due to the increasing public arrears, the Finance Ministry recommended that the state admin should target at a 4.3% GDP fiscal deficit for the entire financial year 2012-2013 which will start by April.

USD 2 billion for overseas received by Indian firms

The overseas investment by the firms based in India already attained USD 2.01 billion last February wherein their major stakeholders are Reliance Industries as well as Tata Sons.

Bangladesh to acquire 500 Megawatts of electricity

The secretary of the state admin energy division in Bangladesh, Mohammed Abul Kalam Azad, announced that its Power Development Board is set to obtain 250 Megawatts electricity from NTPC along with 250 more via competitive bidding.

Essar mulls to accrue USD 600 million for BPO unit

Essar Group has been under negotiations for its BPO unit in order to accrue in the range of USD 500-600 million by means of US IPO as well as the selling of equity shares to private equity companies.

IPO of Vishwanath Sugar in May looms

The Executive Director of Vishwanath Sugar and Steel Industries, Mukesh Kumar, announced that the firm has been planning to introduce an IPO before the end of May which is worth Rs 374 crore.

MCX eyes listing of shares on BSE this Friday

MCX or Multi-Commodity Exchange of India announced this day that it already accrued more than Rs 650 crore via an IPO in the previous week wherein its shares are set for listing on the BSE this coming Friday.

BSE Sensex sheds 1.09% as market collapses again

The BSE Sensex lost 189.58 points or 1.09% to settle at 17,173.29, its lowest closing level since 30 January 2012. The index fell 234.59 points at the day's low of 17,128.28 in late trade. The index rose 329.09 points at the day's high of 17,691.96 in mid-morning trade, its highest level since 2 March 2012.

The S&P; CNX Nifty shed 57.95 points or 1.1% to settle at 5,222.40, its lowest closing level since 31 January 2012. The index hit a high of 5,382.05 in intraday trade, its highest level since 2 March 2012. The index hit low of 5,206.40 in intraday trade.

The BSE Mid-Cap index fell 1.11% and the BSE Small-Cap index declined 1.29%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 3027 crore, higher than Rs 2456.13 crore on Monday, 5 March 2012.

Positive 1048 Negative 1773 Unchanged 113
From the 30 share Sensex pack, 21 fell and rest rose.

Titan to hit 250 total eye-wear branches by September

Titan Industries announced that it is set to widen up its business with 70-75 eye-wear branches to amass its total hubs to 250 by September in the current year, according to Bhaskar Bhat, its Managing Director.

IPO of BCB Finance gets 1.5 times subscriptions

In the latest development, BCB Finance became the first IPO on SME Exchange to accrue Rs 8.85 crore wherein it got 1.5 times subscriptions with Rs 25 pers share issue price.

Olympic Cards to launch IPO worth Rs 25 crore

Olympic Cards announced that it is ready to embark into the capital markets with IPO worth Rs 25 crore on March 9, 2012 wherein the firm already set Rs 30-32 per share as the issue price range.

BSE Sensex slips 1.55% as market crumbles

The BSE Sensex shed 274.12 points or 1.55% to settle at 17,362.87, its lowest level since 1 February 2012. The index fell 324.69 points at the day's low of 17,312.30 in late trade. The index fell 38.57 points at the day's high of 17,598.42 in early trade.

The S&P; CNX Nifty lost 79.05 points or 1.47% to settle at 5,280.35, its lowest closing level since 2 February 2012. The index hit low of 5,265.70 and a high of 5,344.50 in intraday trade.

BSE clocked turnover of Rs 2446 crore.

Positive 1844 Negative 986 Unchanged 111
From the 30 share Sensex pack, 25 fell and rest rose.

Rs 16,000 crore offered by Vedanta for BALCO, HZL

Vedanta Resources announced that it made an offer to pay Rs 16,000 crore to acquire the equity shares of the state admin in Hindustan Zinc or HZL as well as Bharat Aluminum Company or BALCO.

Indigo keen on having 9 more aircrafts

Aditya Ghosh, the president of Indigo, announced that amidst the disorder in the aviation industry, they will keep on targeting its goal in the current year of acquiring nine more fresh aircrafts.

Government demands Rs 425 crore for drug over-pricing: Cipla

In the latest development, Cipla announced that they already obtained state admin advisory wherein it has been demanding Rs 425 crore because of over pricing of particular medicines.

BSE Sensex soars 0.3% as market rebounds before weekend

The BSE Sensex advanced 52.83 points or 0.3% to settle at 17,636.80, its highest closing level since 29 February 2012. The index jumped 147.91 points at the day's high of 17,731.88 in afternoon trade. The index fell 79.59 points at the day's low of 17,504.38 in early trade.

The S&P; CNX Nifty advanced 19.60 points or 0.37% to settle at 5,359.35, its highest closing level since 29 February 2012. The index hit a high of 5,392.55 and a low of 5,315.05 in intraday trade.

The BSE Mid-Cap index declined 0.12% and the BSE Small-Cap index shed 0.09%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2936 crore, higher than Rs 2848.45 crore on Thursday, 1 March 2012.

Positive 1411 Negative 1485 Unchanged 127
From the 30 share Sensex pack, 16 rose and rest fell.

February sales of Mahindra & Mahindra soars 29%

The entire February sales of Mahindra & Mahindra soared 29% as compared to the same period last year having sold 43,087 units on back of strong demand in passenger vehicle as well as four-wheeler commercial vehicles.

Suzlon unit REpower attains bank loan worth Euro 750 million

Suzlon Energy announced that its unit based in Germany, REpower Systems SE, already sealed a deal with group of banks led by BayernLB, Commerzbank Aktiengesellschaft as well as Deutsche Bank for a collective loan worth Euro 750 million.

Toyota Kirloskar obtains 79% sales rise in February

In February, the sales of Toyota Kirloskar Motor increases 79% as compared to the same period last year having sold 16,659 units on back of volume of orders for its Etios Liva hatchback as well as Etios sedan.

Infotech eyes 17-17.5% operating margins in FY12

BVR Mohan Reddy, the chairman and managing director of Infotech Enterprise, announced that the firm is set to achieve revenue expansion of 25-26% in rupee terms as well as 17-17.5% operating margins for the current financial year.

ONGC auction receives bids for shares valued at Rs 8,500 crore

The auction for selling of the state admin’s five percent equity shares in ONGC already received bids for 29.22 crore shares with a value of more or less Rs 8,500 crore.

Government reduces subsidy on decontrolled fertilizers

The state admin revealed about the utmost 33% reduction in the subsidy rates of decontrolled fertilizers like MOP as well as DAP until next year that would definitely not affect the farmers.

OIC to expand oil pipeline to Himachal, JK from Jalandhar

Indian Oil Corporation is set to extend its oil pipeline to Himachal Pradesh starting at Jalandhar along with Jammu and Kashmir. Moreover, the firm will establish two oil units worth more than Rs 600 crore.

BSE Sensex slumps 0.95% as market skids

The BSE Sensex fell 168.71 points or 0.95% to settle at 17,583.97, its lowest closing level since 27 February 2012. The index fell 35.15 points at the day's high of 17,717.53 in early trade. The index declined 289.41 points at the day's low of 17,463.27 in mid-afternoon trade.

The S&P; CNX Nifty fell 45.45 points or 0.84% to settle at 5,339.75, its lowest closing level since 27 February 2012. The index hit a high of 5,372.45 in intraday trade. The index hit a low of 5,297.50 in intraday trade.

The BSE Mid-Cap index fell 0.53% and the BSE Small-Cap index fell 0.38%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2831 crore, lower than Rs 3514.52 crore on Wednesday, 29 February 2012.

Positive 1264 Negative 1580 Unchanged 111
From the 30 share Sensex pack, 24 fell and rest rose.

Orchid Chemicals eyes 20% FY12 expansion

K Raghavendra Rao, the Chairman and Managing Director of Orchid Chemicals and Pharmaceuticals, announced that they has been eyeing its sales to increase more or less 20% instead of the 25% that they have predicted in the past.

FICCI eyes 6.8% GDP growth in FY13

Rajiv Kumar, the FICCI’s Director General, revealed that the negative growth in the economy is set to come to an end by FY13 wherein they predict to hit 6.8% for the whole year GDP growth in FY13.

Merger of Hitachi, BGR least NTPC Rs 160-billion order bidder

A merger unit of Hitachi Power Europe GmbH along with BGR Energy Systems already came up as the least bidder for the energy machine order from NTPC whish is worth Rs 160 billion.

Jewellery, gems exports of India in FY13 to increase 5-7%

The Indian exportation of jewellery as well as gems have been predicted to increase by 5% to 7% in the financial year 2012-2013 which is below than the approximated 9% expansion in the current financial year.

RBI eyes 100 bps slash in next financial year

Aditya Birla Money announced that RBI most likely will reduce more or less 100 bps for the financial year 2013 slowly wherein it plans for the state admin to concentrate on fiscal integration.