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22 November 2007
ET headlines
BHEL bags Rs 2,108-cr contract for Maithon project
Budget-08: Cut in taxes top India Inc wish list
FIIs turn to short-term bonds as yields move up
IT budgeting in US brings bad news for India
Mid-cap shares on a downward path
Tata Group emerges front-runner for Jaguar-Land Rover
PEs top choice list of IIM grads
Moser Baer to bring Kurosawa, Bergman for movie buffs
Heard on the street
Sensex makes way for heavyweights
Soros buys into Biyani's Future Capital
Fortis, DLF close to deal for setting up 15 hospitals
Burger King, Wendy's in talks with DLF for JV
Mixed view on RNRL; pegged at Rs 135
Unions support Tata's bid for Jaguar, Land Rover: Reports
M&M launches customised version of Scorpio
India Inc in top gear: Tata takes lead
Soros buys into Biyani's Future Capital
Rajesh Exports all set to launch Shubh Jewellers
MSPL to invest Rs 1,100 cr in wind energy
Hindustan Dorr Oliver bags Rs 111.50-cr order from HPCL
Wasserstein picks 12% in Euro Ceramics for Rs 60 cr
PVR plans to invest Rs 400 cr to open 250 screens
Prime Focus to acquire two US firms
Vishal Retail may sell stake for expansion: CMD
Indian telecom market to be at Rs 344,921 crore by 2012
India's steel capacity seen at 124 mn tonnes by 2011/12
India-China trade tops $27b till Sept
Sensex slide leaves investors poorer by Rs 4,13,000 crore
Varun Industries debuts at Rs 105
Varun Industries closes at 97% premium
V-Guard Industries files IPO papers
HDFC mutual plans infrastructure fund
United India Insurance co signs 7-year pact with HP
LIC first to set up pension fund company
India among the safer emerging markets
Source: www.theeconomictimes.com. 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Mkts display high volatility; Sensex ends -79 points: Sify.Com
Thanks to hectic buying in a few blue chip stocks including State Bank of India, Maruti Suzuki, ACC, ICICI Bank and Bajaj Auto during the fag end of the session, the Sensex, which was struggling deep down in the red for a long time today, very nearly settled in the positive zone.
Though it opened on a positive note and spurted 142 points to 18,744.55 in early trade this morning, the Sensex tumbled into the red soon as weak global markets and heavy outflow of funds in recent sessions dampened the mood and knocked the wind out of several blue chip stocks. The market then witnessed a few smart intra-day rallies with one blue chip or the other recording an impressive surge every now and then.
The indices had a roller-coaster ride as every sharp rally was followed by an equally sharp setback, and this trend was visible almost till the end of the session today. Still, the barometer's final loss of 76.30 points or 0.41% was quite negligible considering the fact that it was down with a staggering loss of nearly 420 points at 18,182.83 at one stage this afternoon.
While the Sensex ended the session at 18,526.32, the Nifty finished at 5519.35 with a loss of 0.75% or 41.70 points. In intra-day trades today, the Nifty hit a high of 5608.65 and a low of 5394.35. State Bank of India ended with a handsome gain of 4.05% at Rs 2241.80. ACC (2.25%), ICICI Bank (2.2%), Bajaj Auto (2.1%), Maruti Suzuki (1.65%) and Hindalco (1.05%) also closed on a firm note.
For more: Mkts display high volatility; Sensex ends
Other articles from www.sify.com
Indian firm to invest $278 m in wind energy
• Siemens bags Rs 10,100 cr orders
• BHEL bags Rs 2,108 cr contract
• 3i Infotech expands in Chennai
PVR to invest up to Rs 400 cr in 250 screens
Puravankara Projects up on AP Industrial Infra order
Varun Industries shares rise 75% on debut
Satellier bags $10-m equity funding from Sequoia Capital
Tatas eye Europe with electric Indica
More articles @ www.sify.com/finance/
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Article/Corporate/Personailty of the Day
ICICI Bank (formerly Industrial Credit and Investment Corporation of India) is India's largest private sector bank in market capitalization and second largest overall in terms of assets. ICICI Bank has total assets of about USD 79 Billion (end-Mar 2007), a network of over 950 branches and offices, about 3600 ATMs, and 24 million customers(as of end July '07). ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank's equity shares are listed in India on stock exchanges at Kolkata and Vadodara, the Stock Exchange, Mumbai and the National Stock Exchange of India Limited and its ADRs are listed on the New York Stock Exchange (NYSE).
For more, Visit: http://en.wikipedia.org/wiki/ICICI
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State Bank of India
State Bank of India (SBI) (LSE: SBID) is the largest bank in India. If one measures by the number of branch offices and employees, SBI is the largest bank in the world. Established in 1806 as Bank of Calcutta, it is the oldest commercial bank in the Indian subcontinent. SBI provides various domestic, international and NRI products and services, through its vast network in India and overseas. With an asset base of $126 billion and its reach, it is a regional banking behemoth. The government nationalized the bank in 1955, with the Reserve Bank of India taking a 60% ownership stake. In recent years the bank has focused on two priorities, 1), reducing its huge staff through Golden handshake schemes known as the Voluntary Retirement Scheme, which saw many of its best and brightest defect to the private sector, and 2), computerizing its operations.
For more, Visit: http://en.wikipedia.org/wiki/State_Bank_of_India
Source: http://en.wikipedia.org. 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
21 November 2007
Economic Times headlines, MF Tracker
Religare plans asset management biz
Religare closes at 180% premium
Religare weathers the storm on Day 1
India: World's best performing stock market
Business grads wanna be 'entrepreneurs'
Hot stocks face the heat in slide show
No consensus between mobile firms & DoT
Reebok to launch kidswear range
Reckitt hopes to rake in top dollars from India
Gap & Wal-Mart may scale down sourcing from India
MFs to get more room for realty play
Asia's hungry for management talent
Instacoll unveils online office suite, targets Google Docs
Delhi, Mumbai among world's costliest office locations: CBRE
Metal stocks beaten out of shape
Brokerage Platter: Sterlite Tech, Dewan Housing, KPR Mill
Emkay sees 20-25% upside on Jyothy Labs
Indra Nooyi appointed in USIBC Board of Directors
Indian executives see second-highest pay hike in Asia-Pacific
Tata Capital likely to buy 32% stake in Precision Cam
Small cars to dominate Indian market
Khattar may rope in PEs for car retail co
ICICI zips ahead of SBI in race for low-cost deposits
Singapore Temasek, GIC can raise ICICI stakes
UTI aims Rs 70,000 cr AUM by fiscal end
Reliance signs production sharing deal for 2 blocks in Yemen
LNM does the drill again for UK's Burren
More oil PSUs opt for transparency in deals
IVRCL Infrastructures plans mining foray
Hindalco to ride on Novelis technology
Carrefour zeroes in on 3 names for Indian JV
Airtel announces mega expansion plan
Surging economy will make India become G-3 nation: Livingstone
Indian business houses can pick up cues from PEs
Parle Software to consider bonus share issue
BVCL to list on bourses on Nov 23
Lost at Dalal Street: Rs 200 cr in every minute of trade
India may not be expensive after all in P/E play
Religare targets Dewan Housing at Rs 302
Religare assigns bbuyb to Adhunik Metaliks
SEBI plans to introduce real estate trusts
Delhi, Mumbai among world's costliest office locations: CBRE
DBS Chola Mutual Fund launches DBS Chola Small Cap Fund
Reliance Life may infuse Rs 1,500 cr capital in 3 years
Four Soft inks deal with Netherlands-based firm
Reliance edges past ICICI Pru to enter big 3 league
Equity scorecard for you
Who invests in mutual funds?
Equity funds which multiplied their NAV by ten times
For more, Visit: http://www.theeconomictimes.com/
Source: http://www.theeconomictimes.com/. 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Know About: AXA, Aviva
AXA (Euronext: CS, NYSE: AXA) is an insurance company with a group headquarters in France. AXA is not the name of a single company but a group of companies independently organized and operated according to the regulations of many different countries.The AXA group of companies are engaged in life, health and other forms of insurance, as well as investment management. The AXA group operates primarily in Western Europe, Federation of Bosnia and Herzegovina, North America and the Asia Pacific region and the Middle East.
There are five operating business segments with the AXA group of companies: Life & Savings, Property & Casualty, International Insurance (including reinsurance), Asset Management and Other Financial Services.The combined group has 189,000 employees and 122 billions dollars of revenues in 2004. If AXA were a single company it would rank as the 15th largest company in the world (based on revenues) on the 2006 Fortune Global 500 list.[1]
For more: http://en.wikipedia.org/wiki/AXA
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Aviva
Aviva plc (LSE: AV.) is the world's fifth-largest insurance group, the biggest insurance group in the UK and the second-largest insurance group in Canada. Worldwide, it trails behind AXA, Allianz, ING and Fortis[citation needed]. It is one of the leading providers of life and pensions products in Europe and has a presence in 25 countries worldwide, notably France and The Netherlands. The company was formerly called CGNU, and was created by a merger of Norwich Union and CGU plc (itself created by the 1998 merger of Commercial Union and General Accident) in 2000. The Aviva name was adopted in July 2002. The company still uses the Norwich Union name within the United Kingdom.
For more: http://en.wikipedia.org/wiki/Aviva
Source: http://en.wikipedia.org. 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
13 Indian cos amongst Asia`s growing firms : Myiris.Com
Amongst Asia's hot growing companies, thirteen Indian firms have been listed in the 100 fastest growing small and mid-size companies in Asia, report agencies sources.
This report, which is prepared by US-based financial magazine Business Week, India is home to higher number of such companies than China whose presence is limited to just eight firms.
India is next only to Taiwan and Japan, which have been represented by 24 and 18 firms respectively.
The list includes 13 firms from Hong Kong, from Korea 7 firms, from Malaysia 4 firms, 9 firms from Singapore and 2 from Thailand.
There was only one firm from Pakistan that ranked 84th. Among the Indian firms,
Among the Indian firms, Lakshmi Machine Works is ranked 17th, followed by Kirloskar Brothers (18th) and Godrej Consumer Products (23rd).
Also Indian companies such as Maricao ranked 40th, Colgate-Palmolive India 45th, Hexaware Technologies 53rd, GlaxoSmithkline Pharmaceuticals 60th, Panacea Biotec 68th, Bajaj Hindustan 72nd, and Titan Industries 98th.
Source: www.myiris.com. 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. Viewers are strictly advised to take own decision in Stock buying. Blog is not responsible for any faulty information.
New Fund Offers (NFOs) from MF Industry
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JPMorgan India Smaller Companies Fund (G)
JPMorgan (I) Smaller Co.
Issue Open 09-Nov-2007 Issue Close 30-Nov-2007
Scheme Objective : JPMorgan India Smaller Companies Fund, is a n open-ended equity growth scheme. The investment objective of the scheme is to seek to generate long-term capital appreciation from a portfolio that is substantially constituted of equity and equity-related securities focused on smaller companies.
Mutual Fund Family
JPMorgan Asset Management India Pvt. Ltd.
Fund Class
Equity Diversified
Fund Type
Open-Ended
Investment plan
Growth
Fund Manager
Harshad Patwardhan / Amit Gadgil
Entry Load 2.25 %
Exit Load 1.00 %
Comment
Entry Load 2.25% for investment of less than Rs 5 Crs. Exit Load of 1% if redeem within 6 months from the date of allotment in respect of Purchase made other than through SIP and Exit load of 1% in respect of the first purchase made through SIP if redeem Within 24 months from the date of allotment.
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Franklin Asian Equity Fund
Scheme Objective
Franklin Asian Equity Fund (FAEF) is an open-end diversified equity fund. The investment objective of the scheme is to seeks to provide medium to long term appreciation through investments primarily in Asian Companies / sectors (excluding Japan) with long term potential across market capitalisation.
Mutual Fund Family
Franklin Templeton Asset Mgmt. (India) Pvt. Ltd.
Fund Class
Equity Diversified
Fund Type
Open-Ended
Investment plan
Dividend
Fund Manager
Sukumar Rajah / Roshi Jain
Entry Load
2.25 %
Exit Load
0.50 %
Comment
Entry load of 2.25% for investments less than Rs 5 cr. Exit Load of 0.50% for investment less than Rs 5 cr if redeemed within 1year of allotment and 1% for investment above Rs 5 cr if redemption within 6 months of allotment.
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Other NFOs
Lotus (I) AGILE Fund (G)
JM Agri & Infra Fund (G)
LIC MF Top 100 Fund (G)
DBS Chola MF launches Small Cap Fund
For more NFO details: New Fund Offers
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Business Stories from MC, Myiris.Com
Mkts end in deep red: What lies ahead?
Telecom operators meet Secy; deadlock continues
Will mkts go below 18K levels?
Like infra, power and financials: MOST
Which stocks merit a buy now?
India outperforms Asian and global mkts
Crude may see USD 100/bbl
No Deccan-Kingfisher reverse merger: UB
Euro, British Pound, Swiss Franc surge against USD
Brokerage biz topline can grow extremely fast in 3-5 yrs
Support for Sensex at 18965-19160
Asian mkts could correct 20-25%: Bank Julius Baer
Experts see further correction in mkts
ArcelorMittal enters Estonian market
RPL can touch Rs 360-370: A Vora
Sebi considers permitting REITs in India
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Myiris.Com
Brokers Outlook: Crucial buying to happen on Wednesday
FIIs remain net sellers in equities worth Rs 10,721 mn on Nov 20
Bartronics India forms new subsidary in USA
Fitch affirms Bharti Airtel at BB+; Outlook Stable
India Cements to raise up to USD 150 mn
Punj Lloyd`s Atul Punj is E&Y entrepreneur of the year 2007 in const category
Fortis Financial buys Australia based Capital Market Solutions
DBS Chola MF launches Small Cap Fund
Ramsarup Industries bags Rs 356.40 mn orders
Ministry of tourism releases Rs 2.95 bn for 126 projects
Apollo Tyres eyes markets in Europe
IVRCL Infra to diversify into minerals and fossils
Reliance Money plans to offer PMS
RIL gets two new blocks in Yemen
DHFL to buy 19.9% in Wadhawan Food
RIL may cut LPG production next year
M&M eyes South African co.
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Religare Enterprises ends with 182% premium: MC
Continued buying support and management's outlook about future helped the stock to remain in limelight.
Sunil Godhwani, CEO and MD of Religare Enterprises said (in an interview with CNBC-TV18) majority of their revenues come from the broking business. He sees the broking business contributing close to 60% going forward and the rest would be comprised of 60% retail and 40% from i-banking.
The share rose 182.16% to close at Rs 522, with volumes of 1,60,54,884 and the turnover stood at Rs 894.72 crore. It has touched a high/low of Rs 601 and Rs 323.75, respectively on the NSE.
Malvinder Singh, Chairman, Religare Enterprises, said the company is open to more partnerships and acquisitions. Singh said Religare Enterprises plans to enter into the life insurance business with Aegon.
On the BSE, it ended at Rs 521.70, with volumes of 1,11,97,515 shares.The company had entered capital markets with an initial public offering (IPO) of 7,576,102 equity shares for cash. The issue was subscribed approximately around 160.56 times. The net proceeds of the issue would be utilized towards expansion of the domestic operations as well as the network of branches of two of its subsidiaries, Religare Securities Limited and Religare Insurance Broking Limited; funding the retail finance business as well as funding the leading business, through investment in its subsidiaries, Religare Finvest Limited and Religare Finance Limited....
Religare to enter life insurance biz with Aegon
Broking biz to add 60% to revs: Religare Ent
Religare has potential to surge 30%: Tulsian
Religare Enterprises debuts with 75% premium
Broking to account for at least 60% of Religare's revenues
Religare will trade at Rs 650-700 in near term
Varun Industries to list on November 22
Renaissance Jewellery IPO subscribed 18x
Source: www.moneycontrol.com 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. Viewers are strictly advised to take own decision in Stock buying. Blog is not responsible for any faulty information.
Sensex nosedives 678 pts at close, Other stories: Sify.Com
The bears tasted success for the fifth successive session today as weak global markets, rising crude oil prices and reports of a possible hike in securities transaction tax provided a perfect platform for them to launch a massive attack on stocks. Stocks across the board felt the heat today. Information technology stocks were the outperformers thanks to some strong buying in a few heavyweights including Infosys Technologies and Tata Consultancy Services. But then, a severe bout of pressure in late afternoon trade knocked the wind out of these stocks as well.
Metal, bank, realty, capital goods, power and oil stocks melted. There was no respite for stocks from midcap and smallcap segments either. Mirroring the massive erosion in values of its components, the benchmark BSE index Sensex went crashing down to a low of 18,515.30 in afternoon trade. The barometer, which had opened with a negative gap of around 83 points at 19,197.57 this morning, ended the day with a massive loss of 678.18 points or 3.52% at 18,602.62.
The Nifty, which plunged to a low of 5530.85, settled at 5561.05 with a big loss of 3.8% or 219.85 points. While the Sensex drew a blank with none of its components making it to the positive territory, the Nifty had two stocks, Hero Honda (1.6%) and GlaxoSmithKline Pharma (0.6%) in the positive zone when the session ended today. HCL Technologies settled at its previous closing price.
NTPC, which lost a little over 8%, was the biggest loser in the Sensex today. BHEL went down by 6.3%. ITC, Maruti Suzuki, Reliance Energy, ICICI Bank, State Bank of India and Larsen & Toubro lost 5% - 6%. Hindalco and Tata Steel, the metal majors, closed lower by 4.9% and 4.35% respectively. Realty major DLF, a recent entrant to the Sensex fold, ended with a loss of 4.1%. Reliance Communications, Grasim Industries, Ranbaxy Laboratories, Mahindra & Mahindra, Tata Motors, HDFC Bank, Wipro, Cipla, ONGC and index heavyweight Reliance Industries lost 2% - 4% today.
Hindustan Unilever, HDFC, Infosys Technologies, Satyam Computer Services and Tata Consultancy Services also closed with sharp losses. ACC, Ambuja Cements, Bajaj Auto and Bharti Airtel lost 0.3% - 0.6%.
For more: Sensex nosedives 678 pts at close
Articles from www.Sify.com
Max NY Life to invest $609 m in India
In elite club:13 Indian firms among Asia's 100 fastest-growing. India is home to a higher number of hot growth cos than China.
JPMorgan's tax-planning equity fund
Satyam chief bags E&Y award
ACC sells $52 m surplus asset
GAIL to import LNG
Four Soft inks deal for ‘4S eLog’
Arena Animation bags 'Maharashtra IT award-2007’
13 Indian firms among Asia's 100 fastest-growing
IVRCL Infrastructures plans mining foray
‘India may raise securities transaction tax’
RIL signs deal for Yemen blocks
Reliance re-enters Cauvery asset
Source: http://www.sify.com 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. Blog is not responsible for any faulty information.
Article/Corporate/Personailty of the Day
The Economic Times, launched in 1961, is India's largest financial daily and the world's second largest financial daily after The Wall Street Journal, with a daily readership of over 650,000 copies. It is published by India's largest media group, Bennett, Coleman & Co Ltd, (This company along with its other group companies are more popularly known as The Times Group), which also publishes The Times of India, the Navbharat Times, the Maharashtra Times, Femina, and Filmfare. The Economic Times has its offices in Mumbai outside Victoria Terminus railway station. Its main content is based on the Indian economy, share prices, prices of commodities as well as other matters related to finance. The Founder / Editor of the paper when it was launched in 1961 was P.S. Hariharan. The current Executive Editor of The Economic Times is Rahul Joshi.Rahul Joshi is known for his mastery over the conception as well as expression of thought. The Economic Times is characterised by its salmon-pink paper, all of which is recycled. It is also the favourite newspaper among the city's business houses. It is sold in Mumbai, India, and all the major cities of India.
For more: http://en.wikipedia.org/wiki/Economic_Times
Rediff.com
Rediff.com India, NASDAQ: REDF is a news, information, entertainment, and shopping portal. It was founded in 1996 and is headquartered in Mumbai, India with offices in New Delhi and New York, USA. As per Alexa rating [1], Rediff is the No. 5 Indian web portal. It is the only India-based website to appear in first 100 websites. It has more than 250 employees.[2] Rediff.com also offers one of the oldest and largest Indian weekly newspaper, India Abroad, which it acquired in 2001.
For more: http://en.wikipedia.org/wiki/Rediff.com
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20 November 2007
About: PetroChina, Exxon Mobil
PetroChina Company, Limited (SEHK: 0857, SSE: 601857, NYSE: PTR) is a Chinese oil company and is the listed arm of China National Petroleum Corporation (CNPC), mainland China's biggest producer of oil.[1]... Traded in Hong Kong and New York, the mainland enterprise announced its plans to issue stock in Shanghai in November 2007,[1] and following its debut on the Shanghai index, its market value tripled, to make PetroChina the largest company in the world and the first company with market capitalization at USD $1 trillion. [2]
For more: http://en.wikipedia.org/wiki/PetroChina
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ExxonMobil
Exxon Mobil Corporation or ExxonMobil (NYSE: XOM), a multi-national American corporation and a direct descendant of John D. Rockefeller's Standard Oil company.[2] Formed on November 30, 1999, by the merger of Exxon and Mobil, ExxonMobil is the world's largest company by revenue, at $377.6 billion for the fiscal year of 2006. It is the second largest corporation by market capitalization, at $517.92 billion on July 20, 2007 after PetroChina[3]. It is the largest of the six oil supermajors with daily production of 6.5m boe (barrels of oil equivalent)[citation needed]. ExxonMobil ranks first in the world in proven oil and gas reserves among corporate oil producers[citation needed], though it is still eclipsed by several of the largest state petroleum producers
For more: http://en.wikipedia.org/wiki/Exxon_Mobil
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Business Today (Dec 02,2007 Issue) Articles
Cover Story
'We want to be FMCG’s No.1'
By drawing on ITC’s strengths in businesses as diverse as cigarettes to hotels to agri-business, Chairman Y.C. Deveshwar has built an FMCG machine that’s become the market leader in several segments. Now, it’s eyeing the No. 1 slot.
'Our Goal is to be the #1 FMCG Compan
Special
Twenty companies to watch in 2008
Check out Business Today's annual listing of companies you need to keep your eye on.
How the 20 companies to watch in 2007 have performed
Money
The best MF tax savers
Although it's an all year activity, many of us leave tax planning for the last minute. So if you haven't started yet, though we're still a good four months away from the March 31 deadline, it's better to avoid the last minute scramble.
Features
Manufacturing’s vanishing jobs
Rishi Joshi
Millions of jobs in the manufacturing sector could vanish due to the dearer rupee hitting exporters across industries. Will things get worse before they get better?
For more, Visit : http://businesstoday.digitaltoday.in/index.php?latn=1
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5 Indians among Top 25 Asian entrepreneurs
Dabur sets up new manufacturing facility in Nigeria
Railway earnings rise 11.96% to Rs 384.55 bn
Brokers Outlook: Markets expected to bounce-back on Wednesday
ICRA assigns A1 rating to Religare Finvest
Usha Martin to invest Rs 3,350 mn
Dewan Housing to pick 4.98 mn shares in WFRPL for Rs 49.8mn
GTL Infra signs MoU with IDFC Project Equity
Maytas led consortium bags airport projects in K`taka
SREI inks pact with Veolia for infra projects
L&T, Reliance Power in race for Talwandi Sabo project
Reliance, Jai Corp plan USD 10 bn investment in SEZs
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Rediff.Com
10 stocks that can earn great returns
Now, read books on Amazon Kindle!
5 Indians among Top 25 Asian entrepreneurs
Five Indians, including three IITians and all in their 20s or 30s, have made to the list of top 25 entrepreneurs in Asia. The list compiled by the US-based magazine BusinessWeek for its annual report on Asian entrepreneurs includes four women, including Saloni Malhotra whose BPO company 'DesiCrew' targets workforce in small towns and rural areas.
The other Indians on the list include Arun Sahlam, Rohit Nalawade, Vishal Gondal and Gagan Goel. "Thanks to an improved business climate and a wave of funding from US venture capitalists, the region's entrepreneurs are finding success right at home," the magazine said.
Sahlam, 30, an IIT Madras graduate, has made to the list with his website 'Carwale.com' that helps "car buyers, sellers and owners make better decisions."
Prior to going the entrepreneur way, Sahlam worked as a software engineer at Veritas Software (now Symantec).Gagan Goyal, 26, an IIT Mumbai graduate, has to his credit TRI Technology, a robotics start-up that uses robotics as a platform for practical learning in curriculum.Another IIT Mumbai alumni on the list, Rohit Nalawade, has founded 'Consumer Vision' - a real-time service personalisation technology company, which is his second successful start-up at an age of just 24. He started an electronics services company during his undergraduation years with two other friends, which they sold after 22 months.
For more about this article: http://www.rediff.com/money/2007/nov/20bw.htm
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ET Headlines
Nooyi, Girotra figure on '50 women to watch' list
NEW YORK: Two Indian-origin women - Indra Nooyi and Manisha Girotra figure on a list prepared by the Wall Street Journal for women who could have a significant impact on their businesses in the year ahead. Wall Street Journal has compiled a list of 50 women from across the world in its 'Women to Watch' list for 2007 saying, "a new generation of women leaders who grew up watching pioneering women break into the executive suite has moved into the corner offices of some of the world's largest companies." For more: Nooyi, Girotra figure on '50 women to watch' list
Edelweiss IPO subscribed 109 times
Essar Steel may shelve $1.9 bn plant in Indonesia
UCO Bank, Dena Bank rule out merger with SBI
ICICI-Pru launches real estate fund
'PNs constitute 55% of AUM in Sept'
Bharti to set up communication school at IIT-Bombay
3i Infotech announces major expansion plans
Vipul to invest Rs 13,000 cr in 5 years
Birla Sun Life signs MoU with Angel Broking
Reliance Capital buys 6 pc in Oriental Hotels
Tata Motors to roll out 6 new products in truck range
Fortis Financial acquires 76% in Australiabs Capital Market
PFC mulls overseas arm to power infrastructure via forex reserves
Tata come out with Rs 10,000 cr rights issue
I-banks lead list of IIM-A's top recruiters
FDI cap in cable TV may go up to 74%
Indians are most optimistic: Study
PEs date hotels, telecom and nature
Heard on the Street
Unitech plans Rs 3.5k cr funds for Mumbai debut
GMR to raise Rs 2,000 cr via QIP
ICICI gives Lehman a run for m-cap
Local assets more attractive than overseas properties: DLF
For more, Visit: www.theeconomictimes.com
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Updates from MoneyControl.Com
All eyes on Religare listing tomorrow
Check out these buzzing sectoral picks
Underweight on India, China: MS
Liquidity flows to India to remain strong: AMP Cap
Religare to see bumper listing: Experts
South Indian Bank has target of Rs 300
Midcap stock picks for your portfolio
Have you invested in these stocks?
How could 74% FDI impact cable mkt?
Strides Arcolab to buy 51% in SA-based Aspen
Uphaar tragedy verdict out: Ansals among guilty
DBS Chola MF launches DBS Chola Small Cap Fund
ArcelorMittal acquires 12.6% equity stake in General Moly
Why are HNIs eyeing Bombay Burmah?
Wire and Wireless gushes forth
Some interesting midcaps to watch out for
ICICI Prudential AMC ties up with Central Bank of India
SBI seems quite hungry right now
Mutual Fund NAVs end with strong returns
Source: www.moneycontrol.com
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Religare to see bumper listing: Experts
All brokerage stocks are buzzing today ahead of Religare Enterprises' listing and current IPOs like Edelweiss Capital. All brokerage stocks are up around 2-5%.
Religare Enterprises, a financial services company in India offering a wide range of financial products and services, will list on the bourses on November 21, 2007.
Analysts told Moneycontrol.com that the stock is likely to list in the band of Rs 525-600 and advised partial profit booking.
R S Iyer of K R Choksey Securities said, "Religare is expected to list at around Rs 550-600 levels. One can book profits if it crosses Rs 650 on listing day.Investment Advisor, S P Tulsian said, "Religare Enterprises is likely to list at Rs 540 against its issue price of Rs 185 per share. Investors are advised to hold the stock with 3 months view."
The stock is likely to list with premium of Rs 350 plus. Investors, who got shares in allotment, can sell 50% shares around Rs 525 and hold balance shares with short to medium term view, according to Manish Bhatt of Prabhudas Lilladher.
"Keeping in mind the geographical diversification, wide range of products and services offered by the company and the long term growth story in the financial services sector, investors with a long term perspective could hold on for better returns in the long run. However in case of aggressive listing, partial profits can be booked", said Arpit Agrawal – Head of Research, Arihant Capital Markets.
The company had fixed the issue price at Rs 185 per equity share of Rs 10 each (upper end of the price band) for its initial public offering (IPO) of 7,576,102 equity shares for cash, decided through a 100% book building process. The issue was subscribed approximately around 160.56 times. The net proceeds of the issue would be utilized towards expansion of the domestic operations as well as the network of branches of two of its subsidiaries, Religare Securities Limited and Religare Insurance Broking Limited; funding the retail finance business as well as funding the leading business, through investment in its subsidiaries, Religare Finvest Limited and Religare Finance Limited. The book running lead managers to the issue are: Enam Securities Private Limited and Citigroup Global Markets India Private Limited.
Religare Enterprises can give handsome returns: Experts
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Sensex down by 353 pts at close : Sify.Com
Tracking weak global markets, several blue chip stocks opened on a weak note on the major Indian bourses this morning, and, save for a brief while around noon, never really looked strong enough to break free into the positive zone till the end of the session.
The sharp fall on Wall Street due to sub-prime market woes cast its shadow on the Asian bourses and Indian stocks proved no exception to the trend. Though bank, cement and metal stocks bucked the trend and posted gains, they too succumbed to a severe bout of selling pressure that erupted a little past mid afternoon and dropped down to lower levels.
Midcap and smallcap stocks garnered attention. But then, the intensity of pressure in late afternoon trade was so severe that they too drifted down south as the session drew to a close.
Capital goods, information technology, oil, power, realty, PSU, metal, bank, FMCG and auto stocks were all hammered down by the bears. Healthcare stocks outperformed the market and mirroring this, the BSE Healthcare index ended just marginally down from its previous closing mark.
The Sensex, which opened with a negative gap of around 125 points at 19,510.94 and plunged to a low of 19,196.42 during the final minutes, ended the session with a huge loss of 352.66 points or 1.8% at 19,280.60. The Nifty settled at 5780.90 with a loss of 2.15% or 126.75 points.
Tata Motors (0.75%), Ambuja Cements (0.45%), Hindustan Unilever (0.25%), Bajaj Auto (0.15%) and ACC (up marginally) were the gainers from the Sensex.
Hindalco, which eased by 5.5%, was the biggest loser from the Sensex pack. BHEL closed with a loss of 4.65%. DLF and Maruti Suzuki went down by 4.2% and 4.1% respectively. Infosys Technologies, ONGC, Tata Consultancy Services, Grasim Industries, Mahindra & Mahindra, Reliance Industries and HDFC Bank lost 2% - 3.5%.
NTPC shed nearly 2%. Wipro, Reliance Energy, ICICI Bank, HDFC Bank, ITC, State Bank of India, Satyam Computer Services and Larsen & Toubro closed with sharp losses. Tata Steel, Ranbaxy Laboratories, Reliance Communications, Cipla and Bharti Airtel also ended on a weak note.
Nalco slipped by as much as 7.2%. Sterlite Industries, MTNL, BPCL, Tata Power, Unitech and Sun Pharmaceuticals closed lower by 4% - 6%. Punjab National Bank, Siemens, ABB, Suzlon Energy, HCL Technologies and Zee Entertainment closed with sharp losses. GAIL India, Hero Honda, Hindustan Petroleum Corporation, VSNL and Reliance Petroleum also finished on a weak note. SAIL ended with a marginal gain.
For more: Mkts: Bears hammer down blue chips,
Planet Hollywood enters Indian market
Dues recovery: Reserve Bank warns ICICI
GTL Infra in pact with IDFC
L&T, Raytheon sign MoU
Dewan raises stake in retail firm
IIM-A grads get plum offers
Amazon sells own gadget to boost e-books
JSW acquires land for West Bengal project
Businesses for baby boomers
WWIL gains on FDI hike report
Marico climbs on Egypt plant news
Finance shares up ahead of Religare listing
India's 10 top luxury hotels
UCO Bank, Dena Bank up on SBI merger report
Titan to launch watches in Pak, jewellery in US
Japan Nikkei falls to 16-month low after Wall St
Source: http://www.sify.com
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Corporate/Personailty of the Day
The National Stock Exchange of India Limited (NSE), is a Mumbai-based stock exchange. It is the largest stock exchange in India and the third largest in the world in terms of volume of transactions[1]. NSE is mutually-owned by a set of leading financial institutions, banks, insurance companies and other financial intermediaries in India but its ownership and management operate as separate entities[2]. As of 2006, the NSE VSAT terminals, 2799 in total, cover more than 1500 cities across India [3]. In July 2007, the NSE had a total market capitalization of 42,74,509 crore INR making it the second-largest stock market in South Asia in terms of market-capitalization[4].
For more: http://en.wikipedia.org/wiki/National_Stock_Exchange_of_India
Source: http://en.wikipedia.org/wiki/National_Stock_Exchange_of_India
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19 November 2007
About: Goldman Sachs, Lehman Brothers
The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street.[1]
For more: http://en.wikipedia.org/wiki/Goldman_Sachs
Lehman Brothers
Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. It is a primary dealer in the U.S. Treasury securities market. Its primary subsidiaries include: Lehman Brothers Inc., Neuberger Berman Inc., Aurora Loan Services, Inc., SIB Mortgage Corporation, Lehman Brothers Bank, FSB, and the Crossroads Group. The Firm's worldwide headquarters are in New York City, with regional headquarters in London, and Tokyo and offices throughout the world.
More: http://en.wikipedia.org/wiki/Lehman_Brothers
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ET Headlines
Indian employees are highest tax payers in Asia: Report
Booming Bollywood providing business opportunities
Carbon trade may prove another IT sector for India: World Bank
Mid-cap scene likely to heat up
ArcelorMittal to hike flat steel prices
NIIT ties up with Oriental Bank of Commerce
Applied Materials to buy Baccini for $330 million
ABB completes sale of Lummus for $950 million
India Cements to raise up to $150 mn
Flickr to map the world's latest photo hotspots
Soros picks 1.4 mn shares in floriculture comp
RTS Power bags Rs 52.67 cr order for transformers & cables
Singapore, Gulf funds eye 5% in Reliance Power
L&T secures Rs 275 cr DMRC order in JV with Shanghai co
Wanted: Housewives for banking, IT, retail jobs
Marks & Spencer, to set up own India shop
Nahar Retail to invest Rs 430 cr in expansion
Airtel changes name of broadband & telephone services unit
Railways planning to tap windmill energy in TN
Global investors turn bearish on India, China funds
Asian Oilfield up 4% on Oil India order
Persistent Systems to tap market to fund expansions
Pre-IPO premiums zoom as punters play hard
Indian blue chips create 3 times more wealth than US firms
IPO watch: Kaushalya Infrastructure, Renaissance Jewellery, Kolte Patil Developers, Jyothy Lab
Unlisted cos will soon have a platform to trade their scrips
Unitech enters Mumbai property mkt, to invest Rs 4,000 cr
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. Blog is not responsible for any faulty information. Viewers are advised to take own decision in stock buying.