Showing posts with label Corporate News. Show all posts
Showing posts with label Corporate News. Show all posts

23 August 2010

Anil Agarwal set to pip Mukesh Ambani as richest Indian

Anil Agarwal set to pip Mukesh Ambani as richest Indian
 
 
NEW DELHI: The proposed takeover of Cairn Energy's India business could see NRI billionaire Anil Agarwal emerging as the richest promoter of a corporate house ahead of Mukesh Ambani, who has ruled the list for long.

After the acquisition of Cairn India and a proposed IPO of group firm Sterlite Energy, Anil Agarwal, as head of the promoter family, would command an estimated networth of close to Rs 1,67,000 crore, ahead of Mukesh Ambani at Rs 1,45,275 crore, a comparison of promoter family holding valuations for leading groups reveals.

However, Mukesh-led RIL is a wealthier group than Agarwal's Vedanta, although both are behind the Tatas, whose market capitalisation in terms of listed entities is over Rs 3,70,000 crore.

However, in terms of promoters' wealth, Tata group chief Ratan Tata hardly compares to either Mukesh or Agarwal.

In their own respective fields of business, Agarwal is a global leader in the metals and mining, while Mukesh is among the top-ranked international players in the fields of petrochemicals and largest private sector oil group in India.

Agarwal is now entering oil business through the Cairn India acquisition and his capacity to play to the size could now make competition intense in oil sector.

At the same time, the acquisition would give the Agarwal family double the size of Anil Ambani group (whose promoter wealth currently stands at less than Rs 80,000 crore).

The USD 9.6 billion takeover of Cairn India has already pushed Vedanta group head Anil Agarwal to the second position after Mukesh Ambani in terms of family net worth, measured in terms of value of shares held as promoters in five listed group companies.

Add to this, the value of shares he holds in aluminium major Balco and IPO-bound group firm Sterlite Energy, the promoter family wealth of Anil Agarwal group could rise to nearly Rs 1,66,938 crore.

In comparison, the promoter family wealth of Mukesh Ambani group currently stands at Rs 1,45,276 crore, based on the value of promoter holdings in two listed group firms Reliance Industries and Reliance Industrial Infrastructure.  
 
 
 
 
 
Project stake sale buzz puts BF Utilities on fast track

BF Utilities has been in the thick of action, of late, on talk that the company is selling a stake in its Bengaluru-Mysore expressway project to a private equity investor. The buzz is that the project, which has been stuck due to political hurdles, has been valued at Rs 1,200-1,500 crore.

Late July, the stock was speculated to be accumulated by the Silent Operator and the Rar(e)ing Bull on talk that the Supreme Court ruling on the project was expected in August. The Karnataka government filed an affidavit rejecting the demand of BF’s arm, Nandi Infrastructure Corridor Enterprise (NICE), for an additional land of 776 acres within the Bengaluru municipal limit.

Now, the fresh bit of rumours doing the round is that BF Utilities is in advance talks with Anil Dhirubhai Ambani Group (ADAG) and IDFC PE to sell similar stake in the second-and-third phase of the corridor project. Senior company officials denied any such development.

“We don’t want to comment on market speculation. For the record, we’ve not decided anything on stake sale in the Nandi Corridor project,” said Ashok Kheny, managing director, NICE. Shares of BF Utilities ended 8% higher at Rs 1,087 on the BSE on Friday.

Bilcare rises over 4% as Q1 earnings lift sentiment

Shares of Bilcare rose 4.3% to Rs 536.15 on Friday amid talk the Rar(e)ing Bull and associates are accumulating the stock. Analysts said better-than-expected first quarter earnings have boosted sentiment in the stock.

Broking firm Jaypee Research has maintained its ‘buy’ rating on Bilcare with a target price of Rs 663, post results.

Contributed by Shailesh Menon & Harish Rao
 
Src: ET

09 September 2008

Corporate News

SENSEX 14900.76 -44.21
NIFTY 4468.70 -13.60


Sensex ends 44 points down
Stocks fall on global jitters but oil slide saves day
Stocks end lower amid lacklustre trade
Rupee drops to near 2-yr lows, RBI seen
KEC sees revenue doubling on likely nuclear sector orders

Tech Mahindra bags contract from U.S. telecom major
Vodafone-Essar dispute worsens
BHEL gets $490 m power plant order
Punj Lloyd gets $37 m Singapore order
Oil at five-month low, falls below $104 a barrel

Nuclear deal: Hard work lies ahead
India's nuke energy trade to touch Rs 4 lakh cr in 10 years: US
Fed budget deficit nearing $407 bn
We backed India on N-deal: China
Capt Nair in world's top 50 senior business chief list

Rel to tap global mkts for petroleum products
Punj Lloyd gets $37 mn Singapore order
Steel ministry suggests iron ore export tax hike
Next: Getting India in NSG
Prospects good for India nuclear pact: US
N-powered market puts Sensex back in bull orbit

Madras Aluminium shares up 20 pc on investment plans
N-deal was a bad idea from the start: NYT
New RBI chief on inflation and India's growth story
Bhel wins turnkey contract for 726 Mw power plant
Oil firms to boost naphtha export after KG gas flows

Stk/Mkt Reports/analysis:
Value Stocks /Media Sector
Logistic Sector Update
Post Session Commentary - Sep 9 2008
Marginally down
Sensex ends a tad above 14,900; Sterlite Industries tanks

Bharat Forge
Reliance Infrastructure
Mahindra and Mahindra /Sintex Industries
Mahindra Lifespace Developers, Capital Goods, Power
NTPC - Annual Report - 2007-2008


Source:ET, BS, BL, Sify, Deadpresident blog etc.