21 November 2007

Business Stories from MC, Myiris.Com

Moneycontrol.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

It was a phenomenal day for Religare Enterprises, a financial services company in India offering a wide range of financial products and services, which ended the day at Rs 522, up 182%. The stock spurt to Rs 601 (a premium of 225% over its offer price of Rs 185) in early trade and remained above Rs 500 through the day despite negative sentiment across the market (the Sensex lost more than 670 points).

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

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Sensex nosedives 678 pts at close, Other stories: Sify.Com

Sensex nosedives 678 pts at close

NSE 5561.05 -219.85
BSE 18602.62 -678.18

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



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Article/Corporate/Personailty of the Day

The Economic Times

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

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

Business Today (Dec 02,2007 Issue)

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

Myiris.Com

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

Economic Times.Com

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

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
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.