K.V. Kamath is Forbes Asia bizman of the year : Sify.Com

Kamath is Forbes Asia bizman of the year
The m-cap of ICICI swelled to $31 b under his stewardship.


K.V. Kamath, CEO, ICICI Bank, has been named Businessman of the Year for 2007 by Forbes Asia for his steadiness at steering ICICI Bank into one of Asia's top banks. Under Kamath's watch since 1996, the market capitalisation of ICICI Bank has moved up to over $31 billion (Rs 1.25 lakh crore as on November 28) placing it among the region's top 10 banks.

"By this measure, it is bigger than Singapore's DBS Group and Korea's Kookmin Bank, and has attracted big stakeholders such as Singapore's Temasek Holdings and CLSA and Merrill Lynch funds," a press release issued by Forbes said.

Sixty-year old Kamath's win puts him in the company of Nandan Nilekani of Infosys Technologies, last year's winner, and Ratan Tata, the 2004 businessman of the year.
His addition means three Indian executives have won the accolade in the last four years. Tim Ferguson, Editor, Forbes Asia, said: "Kamath's leadership has been outstanding. His focus on serving India's growing middle class by providing first world banking service at affordable prices is largely the reason behind the phenomenal growth of ICICI."

The bank's assets have grown 40 per cent annually in the last three years propelled by a boom in consumer credit where ICICI Bank has a dominant one-third market share.



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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information given. Blog is not responsible for any faulty information.

Sensex settles with a modest gain : Sify.com

NSE 5634.60 17.05
BSE 19003.26 64.39

Taking cues from global markets which had surged higher on expectations of a rate cut, equities opened on a high note on the major Indian bourses this morning, and, due to heavy short-covering in the derivatives segment ahead of expiry of November series contracts, remained high up in the positive zone till about an hour to go for the closing bell.

However, due to a fairly strong bout of selling in a few blue chip stocks, the benchmark indices Sensex and Nifty gave up a significant portion of their gains in the end. Bank, oil and realty stocks closed with smart gains. Information technology stocks, which had a bright spell today, closed well off their intra-day highs due to strong resistance during the fag end of the day.
Auto stocks too surrendered most of their gains. Power, healthcare and capital goods stocks met with profit taking. Selling was evident in late afternoon trade in midcap and smallcap segments as well.

While the Sensex, which opened with a huge positive gap of over 350 points at 19,290.67, ended the session with a modest gain of 64.39 points or 0.34% at 19,003.26, the Nifty settled at 5634.60, well off its high of 5725, with a gain of 0.3% or 17.05 points. Till around mid afternoon, only a few stocks among the Sensex components, were seen struggling to make a headway. However, when trade ended for the day, as many as 14 stocks from the Sensex pack had drifted down into the red. Among them, Bajaj Auto (down 4.65%), Ranbaxy Laboratories (down 2.65%), Reliance Energy (down 2.35%) and Tata Steel (down 2%) were the worst hit.

Reliance Communications, Hindalco and BHEL eased by 1.95%, 1.85% and 1.35% respectively. ITC, HDFC, ONGC and Larsen & Toubro lost 0.5% - 1%. Cipla and Grasim Industries lost marginal ground. Banking sector heavyweights HDFC Bank (4.3%), ICICI Bank (3.15%) and State Bank of India (0.8%) closed with sharp gains.

Reliance Industries firmed up by 1.15%. Automobile stocks Maruti Suzuki (2.5%) and Mahindra & Mahindra (1.5%) ended on a firm note. Hindustan Unilever, Bharti Airtel, Ambuja Cements, NTPC, DLF and Tata Motors closed with modest gains. IT stocks Wipro, Satyam Computer Services, Tata Consultancy Services and Infosys Technologies ended with very small gains.

Reliance Petroleum flared up 12.25% on hectic short-covering. On the National Stock Exchange, the Reliance Petroleum counter clocked a huge volume of 176.59 million shares today. At nearly Rs 3625 crore, RPL's contribution to the turnover on NSE today was quite significant.

More@ Sensex settles with a modest gain

Other stories from www.sify.com/finance

Get you math right on spectrum: Mittal
How to make money off your homeland
RIL to invest Rs 17,000 cr
BHEL wins contract
Prime Focus to acquire 2 US firms

RIL cautions against 'canard' on deal with RNRL
Rural branches are a good source of business
Time vs timing
ONGC Videsh bags two blocks in Brazil
RPL stake sale, volume data don't match
Defence ministry cracks down on Orkut networking site


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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information given. Blog is not responsible for any faulty information.

Personalities: Ashok Soota, Baba Kalyani

Ashok Soota

Ashok Soota was the President of Wipro from 1984 to 1999. He co-founded MindTree Consulting in 1999, which is currently a leading name in IT consulting.He has played a major role in the development of the IT industry in India.

Chairman and managing director of MindTree Consulting, Ashok Soota co-founded the company in August 1999 along with nine other industry professionals.
Prior to co-founding MindTree, Soota was president of Wipro Infotech from 1984 to 1999. Under his leadership, the company grew from a US$ 2 million business in 1984 to a US$ 500 million business in 1999.

More about @ http://en.wikipedia.org/wiki/Ashok_Soota

--------------------------------------------------------------------------------------

Baba Kalyani

Baba N. Kalyani (born January 7, 1949) is an Indian billionaire businessman. According to Forbes magazine, he is the 562nd richest person in the world[1] and 19th richest in India.[2]
Mr.Kalyani is the chairman and managing director of Bharat Forge, the flagship company of the Kalyani Group and the world's second-largest forgings manufacturer after ThyssenKrupp of Germany. It is expected to take the top spot in the not too distant future. He has a BE(Hons.) from BITS Pilani and an MS degree from the Massachusetts Institute of Technology.
Baba Kalyani currently lives in Pune, India. He is the founding chairman of Pratham Pune Education Foundation,[3] a charity that provides primary education for underprivileged children.

More @ http://en.wikipedia.org/wiki/Baba_Kalyani


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 provided. Blog is not responsible for any faulty information.

Deadpresident.Blogspot.Com

I came across a blog which is having the information of India's Stock markets and Stock analysis, Stock recommendations and etcccccc.

This blog is very informative.

Blog link is : http://deadpresident.blogspot.com [ India Equity Research]





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.

15 new stocks on FnO segment from Nov 30: Financial Express

National Stock Exchange on Wednesday said 15 new stocks including-- Global Broadcast News, Hindustan Zinc, Jindal Saw and NIIT Ltd will be introduced in the Futures and Options segment.

According to a NSE circular, 15 additional securities will be available for trading in the F&O segment with effect from November 30.

The other stocks included for trading in the F&O segment are Development Credit Bank, Kpit Cummins Infosystems, Motor Industries, Info Edge, Great Offshore, Wire & Wireless, Redington (India), Network 18 Fincap, Ispat Industries, Hindustan Oil Exploration and Gitanjali Gems.

Details of market lot and list of contracts being made available for trading in the above securities would be informed to members on November 29, the circular said. F&O segment on the bourse had witnessed record turnover of Rs 1,10,563 crore in October, while on Tuesday the F&O segment had reported a turnover of Rs 75,192.11 crore.


Source: http://www.financialexpress.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.

Myiris.com updates

Tata, Rcom raise USD 1.37 bn via ECBs in Sep. 07: RBI
Market seems to be in bearish zone: Vishwas Agarwal
Brokers Outlook: Volatility expected due to F&O expiry
Fortune names Ratan Tata among top 25 powerful business heads
RNRL rubishes news item
Welspun Syntex Q2 net jumps 6.37 times


ONGC-Mittal energy acquires 30% stake in blocks in Caspian Sea
Arvind Mills looks at spinning off retail business under Megamart
Pyramid Saimira to buy 51% stake in Dimple Chie
RSWM approves demerger of investment division


Source: http://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 and make verification about the information. Blog is not responsible for any faulty information.

ET Headlines

The Economic Times

NSE is world's top bourse in futures trading

Reliance Petroleum investors should look at rollovers for cues
Govt can get Rs 6,500 cr as GSM fee: RCom
Citi Venture buys 27 pc in Unimark Remedies for Rs 113 cr
Rupee weakens against dollar
S Kumars plans IPO for Reid & Taylor
eClerx Services IPO opens Dec 4
Wall St opens on positive note

India ranks among top expensive places to trade
Apple's Steve Jobs is most powerful businessman
S Kumars may bring PE into demerged Reid & Taylor
REL ties up coal supply with buyouts, contracts
Pyramid Saimira acquires Dimples Cine Advertising
DLF picks up majority in Amanresorts for $400 mn
Parsvnath in talks with Carrefour & Casino for retail venture

GAIL India shares climb 3.6 per cent on winning gas rights
Indiabulls promoters up stake; purchase shares worth Rs 375 cr
Emaar MGF enters Chennai residential mart
Sadhus turn smart investors
Does a CEO need to be an MBA?
Delhi to host TiE Entrepreneurial Summit 2007
Infosys receives 2007 Balanced Scorecard Hall of Fame award


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.

Moneycontrol Updates

NSE adds 15 new stocks in F&O from Nov 30

Following 15 additional securities will be available for trading in NSE F&O segment with effect from November 30, 2007:
Sr no. Security Name Symbol
1 JINDAL SAW LIMITED JINDALSAW
2 KPIT CUMMINS INFOSYSTEMS KPIT
3 DEVELOP CREDIT BANK LTD DCB
4 HINDUSTAN ZINC LIMITED HINDZINC
5 MOTOR INDUSTRIES CO LTD MICO
6 INFO EDGE (I) LTD NAUKRI
7 NIIT LIMITED NIITLTD
8 GREAT OFFSHORE LTD GTOFFSHORE
9 WIRE & WIRELESS (I) LTD. WWIL
10 REDINGTON (INDIA) LTD. REDINGTON
11 NETWORK 18 FINCAP LTD. NETWORK18
12 GLOBAL BROADCAST NEWS LTD GBN
13 ISPAT INDUSTRIES LIMITED ISPATIND
14 HINDUSTAN OIL EXPLORATION HINDOILEXP
15 GITANJALI GEMS LIMITED GITANJALI

Stay short or stay out, advise experts
Q3 results to push mkt beyond 20k: UTI Sec
Will mkts succumb to 8-yr itch?
It's showtime for multiplex stocks
All eyes on F&O expiry tomorrow

Rico Auto had a good bounce back
Sebi should look into Reliance Petroleum
Volvo interest pushes Ashok Leyland higher
NSE bars further F&O positions in Essar Oil, Bongaigaon
DLF to replace Essar Steel in S&P CNX 500

Mallya plans to unlock full value of Deccan, KF in Mar '08
LIC Housing Fin may raise Rs 500-600 cr
Pyramid Saimira picks 51% in Dimple Cine Media
Gateway Distriparks may sell stake: Srcs
Hidden gems for your portfolio

Stocks to watch: RPL, RNRL
Marketwide rollover at 55%




Source: http://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 and make verification about the information. Blog is not responsible for any faulty information.

Sensex tumbles 189 pts at close : Sify.com

Sensex tumbles 189 pts at close

NSE 5617.55 -80.60
BSE 18938.87 -188.86

Heavy selling across the board during the final hour of trade sent the benchmark indices Sensex and Nifty, which had held on in the positive territory after a rousing start, crashing down to a highly negative close today.

Though a strong close on Wall Street aided the sentiment this morning, weakness on the Asian bourses amid growing concerns on the subprime market front and the subdued trend on European bourses dampened the mood in afternoon trade.
While the Sensex, which opened with a positive gap of around 190 points at 19,316.76 - it remained its best for the day - but tumbled to 18,884.20 in the final hour, ended the session with a loss of 0.99% or 188.86 points at 18,938.87, the Nifty finished with a loss of 1.41% or 80.60 points at 5617.55.
Automobile majors Maruti Suzuki (3.15%), Bajaj Auto (2.85%) and Tata Motors (0.55%) displayed strength and ended on a positive note. BHEL (1.95%), Ambuja Cements (1.05%), ITC (0.5%) and HDFC (0.4%) were the other stocks from the Sensex to romp home on a winning note today.
Metal stocks Hindalco and Tata Steel went down by 3.65% and 3.4% respectively. ACC lost 3.3%. Reliance Energy, Tata Consultancy Services, DLF, Reliance Industries, ONGC, Wipro, NTPC, HDFC Bank, Larsen & Toubro, Ranbaxy Laboratories and Grasim Industries lost 1% - 3%.
State Bank of India closed with a loss of 0.9% at Rs 2252.05. Reliance Communications, Hindustan Unilever, Bharti Airtel, Satyam Computer Services, ICICI Bank, Infosys Technologies, Mahindra & Mahindra and Cipla also ended on a weak note.

Nalco (down 5.75%) was the biggest loser in the Nifty index. BPCL, which had a bright morning session, ended with a sharp loss of 5.5% at Rs 384.50. SAIL, Siemens, GlaxoSmithKline Pharma, Suzlon Energy, Reliance Petroleum, Hero Honda, Punjab National Bank, Sterlite Industries, Tata Power, Hindustan Petroleum Corporation and Unitech also ended with sharp losses today. Dr. Reddy's Laboratories finished with a modest gain of 0.6%.

TVS Motor, Ashok Leyland, Colgate Palmolive, Neyveli Lignite Corporation, Bongaigaon Refinery, Chennai Petroleum Corporation, Adani Enterprises, Fertilizers & Chemicals, Mirc Electronics, Mangalore Refineries & Petrochemicals, Titan Industries, IDBI, Sterlite Optical Technologies, IDFC and Federal Bank ended sharply lower.

Bilcare, India Infoline, SpiceJet, HT Media, Indraprastha Gas, Ashapura Minechemicals, PTC India, Exide Industries, Triveni Engineering, India Cements, Godrej Consumer Products, Novartis, Usha Martin and REI Agro were among the prominent losers from the midcap index.
Mico, Sun TV Network, Ispat Industries, Omaxe, Indian Bank, Jindal Saw, Cummins India, Hindustan Zinc, GlaxoSmithKline Consumer Healthcare, National Fertilizers, Jaiprakash Associates, Nirma, IndusInd Bank, Gujarat Minerals, Dredging Corporation, Orchid Chemicals, Lanco Infratech and Nicholas Piramal surged higher on strong buying support.

As profit taking took centrestage, the market breadth turned weak towards the closing minutes. When trade ended, out of 2873 stocks that were seen in action on BSE, 1497 stocks had slipped into the red. 1306 stocks closed with gains and 70 stocks settled at their previous closing levels.


Other stories @ www.sify.com/finance/

Infosys strengthens position in FinTech 100
Valuemart Info acquires Datatalk
Ashok Leyland in tie-up with TVS
Ushdev Intl plans bonus issue
'India can achieve double-digit growth'
Carrefour in talks with Indian realty firm
Pension funds to be invested in equities
NSDL to handle pension records for Govt staff


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. 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.