Corporate headlines from ET

Economic Times.Com

SEBI approves new derivative products
India's market regulator SEBI said on Wednesday its board has approved launch of several new derivative products to provide investors a wide range of risk mitigation products and create more activity in the onshore market. The products will relate to mini-contracts on equity indices, options with longer life, volatility index and F&O contracts, options on futures, bond indices and F&O contracts, foreign exchange F&O and introduction of exchange-traded products.

"These products are also expected to bring transactions based on private-synthetic products to an exchange-traded transparent mechanism with appropriate regulatory supervision," the Securities and Exchange Board of India said in a statement. The market regulator's committee on derivatives is expected to finalise its recommendations on suitable over-the-exchange derivate products for Indian markets, it said. Currently, the contract value in futures and options (F&O) segment is around Rs 2 lakh.

As the price of a stock goes up, the exchanges read just the contract basket to keep the value in the region of Rs 2 lakh. The government and the regulators are looking at a lower limit of Rs 40,000 to enhance retail participation. Derivatives are financial instruments whose value is derived from the value of the underlying asset. A futures contract gives the holder the obligation to buy or sell. An options contract gives the holder the right, but not the obligation to buy or sell.

Sensex rises 900 points
Asia stocks rebound after US rally
US stocks flies on tech, oil
Sundaram Select Midcap's plays safe
India named among world's 10 most gender-biased economies
Three Indians among Europe's 100 power-women bankers
Market rally makes IT investors richer by Rs 15,000 cr

ECE industry can grow to $12-13 bn by 2015: Mckinsey study
Microsoft launches MS Office Professional 2007
LG posts sales revenue of Rs 1,132 cr during Diwali
India Inc topline slows, margins up in Q2 FY-08: CMIE
HDFC gets Rs 170-cr brand premium from Ergo
Religare ties up with Corporation Bank
ITC eyes Parle's candy business

Tata Coffee eyes Russian brand
JSW Energy to transfer power plant to JSW Steel
GAIL India plans to pick stakes in projects abroad
KEC International gets orders worth Rs 6.37 bn
SAIL to invest Rs 2k cr to set up new units
JSW Steel unit to invest in Tamil Nadu iron ore mines
Siscol to expand capacity, hopes to get mining rights soon

India to become 2nd largest steel producer by FY16: Paswan
RCom in race for Telkom Kenya
Bharti adds 2.03mln customers in Oct-trade
Bharti Airtel favours mobile portability
Number portability not to hit margins: Bharti chief
SpiceJet to raise fares by 5-7 pc
Adani-DP World terminal deal off

India to be one of the three major economic powerhouses: Ken Livingstone
Investors may soon take all shares at Re 1 face value
UTI Securities Technical Call - Unitech, Nagarjuna Fertilizers
Small-caps that rose 48-78% in seven days
Triveni Engg to raise up to Rs 250 crore
Derivatives will soon have 6 new products
MF investors pull out Rs 12,500 crore in Oct

India shining for global PE players
Tata's supercomputer Eka is fastest in Asia



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Corporate Headlines from ET, MC

Economic Times.Com

Fuel price cap helped trim inflation: Govt
Capital goods sector vibrant; investments to drive economy: FM
High interest rates, strong Re pulls industrial growth down to 6.4 pc
Oil PSUs board rickshaws to keep losses under check
New cos explore opportunities in buoyant oil and gas
Rupee appreciation contributed to fall in inflation: FinMin
Reliance bags Oman deepwater block


Indiaco Ventures buys 20.83% stake in Laser Cosmetics
IVRCL Infra acquires Alkor Petroo
RBI in talks for financing projects
Post-Diwali: Marching towards 21K
Historically, investors generally gain post-Diwali

MMTC becomes most valued PSU
Sterlite Tech announces optic fibre capacity expansion
Finance Ministry's view on SBI fund raising soon
Allianz fund arm keen to enter Indian market
ICICI Venture invests $10 mn in RG Stone Research Inst
Havells sees Rs 2,000 cr revenue in 2007/08

UTI Mutual launches new infrastructure fund
Suryachakra in Chinese tie-up for power project
India's Sept industrial output seen up 9.9% [
Ashok Leyland expects truck sales to revive from Jan
Indiaco Ventures buys 20.83% stake in Laser Cosmetics
OIL eyes 5 more blocks in Africa

40 PEs, others line up for stake in Tatasb tower biz
CII sees negative growth in 17 sectors
Manufacturing sectors take a hit: CII Ascon poll
India's Sept industrial output seen up 9.9%
Consumer durables sector pulls down IIP to 6.4%

Markets continue to draw FII investments
Hot Stocks Platter: Bharti Airtel, Zodiac Clothing, Graphite India and Elgi Equipment
FII scorecard: India's loss is Korea's gain
Easier IPO pricing & disclosure rules likely
TCS launches new solutions for airlines

The subprime aftermath
Sensex as a trademark
IPO Watch: Edelweiss Capital

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Moneycontrol.Com

Overall macro-economics still strong: FM
BSE IPO to hit mkt before March ’08: Srcs
Post sell off, do these stocks look attractive?
Neyveli Lignite has target of Rs 225
Stocks that brokerage houses are betting on
Markets make meaningful comeback; outperform Asia
Which midcaps is India Infoline positive on?
JPMorgan AMC launches ‘Smaller Companies Fund’


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RPL News, Corporate Headlines from ET, MC

Moneycontrol.Com

Reliance Petroleum has target of Rs 325-...
Chevron eyes 24% stake in RPL
How does RPL compare to its global peers?
RNRL can test Rs 150: Gaba

RPL or Chevron: Which one's at a
How does RPL compare to its global peers?
2007-11-02 14:23:20 Source : moneycontrol.com
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Chevron has said it is evaluating buying stake in Reliance Petroleum, reports CNBC-TV18. It has time till July 2009 to decide and has an option to buy up to 24% in the company.

So, how does RPL compare to its global peers?

Analysts feel that a lot of that is priced into RPL’s price. The stock has seen a steep movement. In fact, the market capitalization of RPL as of now is over USD 30 billion. This, they added, gives you an indication about the valuations it is getting, ahead of the commencement of its operations, which is expected by July next year.

Most analysts are looking at a gross refining margins, or GRM, of USD 15-18 in the first three years of operations. Now, with crude hovering over USD 95, analysts feel that GRMs are expected to be sustained for at least 10-years instead of 3-years. This means that analysts are discounting the cyclical factor of crude prices.

Analysts feel that one should look at RPL’s earnings and sales as a normal company. So for FY10, they are expecting revenue growth at nearly USD 14.2 billion and profitability of USD 2.25 billion. For a company that will come out with such sustained profitability of USD 2.25 billion, given the constant GRMs of USD 15-18 for the next few years, the market is definitely pricing in a higher PE for RPL.

According to analysts, Infosys is being given a PE of 20-25 times FY10. So, why should RPL which is coming out with similar profits not be given the same kind of PE, they question. But that is on the extreme side. Currently, RPL’s PE is hovering around 16 times FY10, which is much higher than global peers.

In fact, Chevron PE is around 9 to 10 times forward PE while Reliance Petroleum is trading at a premium to that, analysts said. However, Chevron has a market capitalization of USD 190 billion and has a refining capacity of nearly 132 million tonne. In that sense, RPL is trading at a premium to its global peers and a lot of this is being going to be discounted when the refinery comes on stream next year.

Reliance Petroleum has target of Rs 325-330: Bose
2007-11-02 11:08:19 Source : moneycontrol.com
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Technical Analyst, Rajat K Bose is of the view that Reliance Petroleum has target of Rs 325-330.
Bose told CNBC-TV18, "Beyond Rs 291 is difficult to project because the run up in Reliance Petroleum has been pretty sharp. The target would be Rs 325 to 330 in the short-term. But after yesterday’s fall, such huge volumes I have never seen in any stock with that kind of a market capitalisation. So still it is moving up. It shows that it has got enough of momentum to cross the Rs 291 mark and move forward further. But we need to very closely watch the Rs 291-294 range. In RPL, RNRL bull rally continues, even in such a situation it is pretty encouraging for traders, especially day traders can make lot of money in such counters."
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Chevron has said that it is evaluating RPL stake option, adding that it has time till July 2009 to decide, reports CNBC-TV18. It has option to buy up to 24% in RPL, it informed.
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SBI has target of Rs 2400
Dhawan bullish on bank space
RPL can cross Rs 300
Above Rs 140-145, Triveni Engg can go upto Rs
MF AUM up 16.7% at 5 lakh cr in Oct: AMFI
Long run mkt fundamentals very strong: ICICI Pru


Second innings for Birla's fin services biz
What to expect from Nifty cos this year?
Fed open to further rate cuts if needed: Peter Hooper
Google launches OpenSocial to spread social applications
Airtel introduces the ‘Super Lifetime Prepaid’

Buy 3i Infotech; target of Rs 190: PINC
Rediff.Com reports results for Q2 ended September 30,07
Financial Technologies Group partners with OMX

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The Economic Times.


Reliance Energy arm set to win transmission bid

IDFC Pvt Equity invests Rs 35 cr in Doshion
Apar to sell polymers unit for Rs 1.11 billion
Strong close to week start: Sensex gains 250 pts
Circuit Systems lists at Rs 42 on BSE
MMTC sees strong run-up in 3 months


Glodyne acquires US co for $3.34 mn in cash
Microsoft launches Silverlight 1.0 in India
HCL Technologies ties up with UK's Misys
UN ties up with Google, Cisco to fight poverty


Sale of single-premium policies takes a hit
RBI loan rules turn good assets into bad

Religare Platter: M&M, BoB, Jagran Prakashan, Idea



We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers