Know About: Valero Energy Corporation

Valero Energy Corporation

Valero Energy Corporation (NYSE: VLO) is a Fortune 500 company based in San Antonio, Texas, with 21,836 employees and annual revenue of more than US$90 billion. The company owns and operates 17 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation's largest retail operators with more than 5,000 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names, including Valero, Diamond Shamrock, Ultramar, Shamrock and Beacon.

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




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Corporate Of the Day: Vedanta Resources

Vedanta Resources

Vedanta Resources plc (LSE: VED) is a diversified and integrated metals and mining group. Headquartered in the United Kingdom, its principal operations are located in India, with a major market share in each of the main metals: aluminium, copper, zinc and lead. There are also substantial copper operations in Zambia and Tasmania, Australia. Vedanta's subsidiary Sterlite Industries is one of India's largest mining company[1] while Konkola Copper Mines is the largest mining company in Zambia.[2]. Vedanta's Indian zinc and copper operations rank in the top quartile of global cost efficiency.[citation needed]. In addition to the existing operations, Vedanta currently has a range of expansion projects involving investment of over $2bn, which is already more than half completed.[citation needed]. Vedanta was listed on the London Stock Exchange in December 2003,[3] and the FTSE 100 Index in June 2006.[4]

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



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Economic Times Business Stories

US Fed cuts key interest rate for third time in 3 months
Bulls set for another run; eye 21,250 on Sensex
Jindal, Williams among top 10 Indian-American newsmakers
Ten penny-pinching ideas for 2008
Mkts close at new high; shrug off global weakness Govt announces subsidy for number of rooms in hotels

'IT export targets to be met despite Re surge'
Rupee loses ground, gold price fell too
India logs surprise 11.8 percent industrial growth
NASSCOM-IIMA starts survey on women workforce of IT, ITeS
India's Petronet seeks partner offering cheap LNG
PSBs to hold 51% in clearing arm

Unitech's Chandra pips Mittal as richest self-made billionaire
Vikram Pandit named CitiGroup CEO
Indian honchos splash US Inc, climb Fortune mountain
Eton Park to invest $127 mn in Reliance Capital
Reliance Energy wins $945 mn contract
RIL to buy Hualon's assets for Rs 2k cr
RIl signs contracts for 2 Columbian blocks

German parent Linde to invest Rs 598 cr in BOC
Italian co to acquire 60% in Nicco unit
Tata Steel in JV for development of iron ore deposits in West Africa
Ansal gets UP govt nod for two Lucknow SEZs
NSE bans trading in 12 F&O securities
Analysts' picks: MphasiS; Ashok Leyland; United Phosphorus
Heard on the street

BGR Energy Systems IPO subscribed 61.62 times
Tata Consultancy eyeing 12 large contracts - CFO
Bancassurance to generate 35 % of private insurers' premium
Merlin Group forms JV company with city based export co
Redfort to invest $100 mn in Chennai
NSE allows new positions in 3 derivatives contracts


International News:

US Fed cuts key interest rate for third time in 3 months
Israel becomes world's 4th largest arms exporter
bal deals to drive Asia M&A charge
ABN Amro set to end Rothschild JV
ArcelorMittal acquires Argentine steel distributor
HSBC says aims to open 7 retail branches in Japan
China Sunshine Paper rises 8% in HK IPO debut


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Other Blogs Round Up

http://www.deadpresident.blogspot.com

US Market slammed as Fed disappoints /Fed cuts interest rates
Grey Market Premium Updates
Earnings 2007
Reliance Energy, Jindal Steel & Power December futures at premium
Welspun Gujarat /Deccan Chronicle / United Phosphorus
Market Mantra and Futures & Options
Fed-up of small cuts!
Stocks in News:
Wipro is looking to earn one-sixth of its global revenues by March 2009 from system integration business.
Pfizer's patent for new HIV follow up treatment drug Celzentry in India may face opposition from patient groups and NGOs.
Marico is currently test marketing hair oil, gel and shampoo for children.
ITC to provide supply solutions to help small stores place orders over mobile phones.
TV18 Group to buy a majority 53% stake in Infomedia India.
Ansal API receives UP government’s approval for two SEZs.
Jindal Drilling plans to divest 10% stake to fund expansion plans.
Nalco is investing Rs300bn over the next five years for setting up smelter and power plant in Indonesia.
SBI expects slowdown in personal loans by 5-10% in second half of FY08.
Shriram Transport Finance is looking at the replacement market to sustain its loan growth at 50% in H2 FY08.
Idea Cellular offers Rs16.5bn for additional 4.4MHz spectrum.
Reliance Industries to spend US$12bn to develop three gas basins.
IOC says it would stop fuel supply to the railways if the latter continues to insist on discounts.
United Phosphorus is set to bid for Australia's largest agriculture chemical company, Nufarm.
Tata Steel has entered into a joint venture with SODEMI for the developing Mount Nimba iron ore deposits in Ivory Coast in West Africa.
Suzuki announces that Maruti Suzuki India will make its next global car, the A-Star.
Mercator Lines raises about US$142.5mn from its listing at the Singapore stock exchange.
Reliance Industries sings contracts for exploration in two oil and gas blocks in Colombia.
Reliance Energy led consortium will contest Sea King while bidding for the Mumbai Trans-Harbour link.
Reliance Energy’s 4,000MW Shahapur project gets environment clearance.
L&T acquires 26% stake in New Delhi based consulting and engineering firm Feedback Ventures for Rs400mn.
JSW Energy invites bids for BoP package for its proposed 3x400MW coal fired power plant in Ratnagiri.
Commerce Minister Kamal Nath rules out any possibility of relaxation of land rules for SEZs.
The RBI may soon tighten norms for foreign exchange derivatives.
The Government is likely to extend Software Technology Parks of India scheme only to Indian ITES/BPO firms beyond 2009.
The Petroleum & Natural Gas Regulatory Board has urged the petroleum ministry to offer targeted subsidy on petrol, diesel, LPG and kerosene.

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Several Openings Exist currently in Edelweiss Capital for Finance and CFA candidates.Some of the prominent ones being:Edelweiss Capital-Research Analyst Openings


Evalueserve has openings related to finance in the following areas:1)Investment Banking 2)Corporate Finance...More...Investment Banking Openings in EVS

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Sundram Fasteners Ltd. Stock Analysis
Company:Sundram Fasteners Ltd.
Industry:Auto Ancl - Engine
Recommendation:Performer
More @ Sundram Fasteners Ltd. Stock Analysis

Company:Tourism Finance Corporation of India
Industry:Finance - Term Lending Institutions
Recommendation:Performer
More @ Tourism Finance Corporation of India

Company:RSWM Ltd.
Industry:Textiles - Spinning - Synthetic Blended
Recommendation:Performer
More details @ RSWM Ltd-Stock Report and Analysis



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Myiris Business Updates

Myiris.Com

Wrap Up: Sensex ends up 84.98 pts after US Fed cut
Brokers` Outlook: Market to be volatile on Thursday

Renaissance Jewellery closes at 9.93% premium on NSE
Edelweiss settles at 83% premium on NSE
IL&FS Investment raises 2nd Int`l Real Estate Fund
Burnpur Cement fixed price IPO subscribed 15.19
Sundram Fasteners acquires Upasana Engineering
Suzlon`s arm Hansen list with 42.3% premium on LSE

Punj Lloyd bags Rs 5.90 bn order from IOC
BAG Films to air News 24, Hindi News channel on Dec 13
SAT dismisses stay on delisting of Essar Steel
REL secures 1,200 MW EPC order of over Rs 37,250 mn
Parsvnath Developers incorporates its subsidiary
South Indian Bank to overtake its targets for the current fiscal

Active stock: Infomedia soars over 4% on news of takeover by TV18
ArcelorMittal acquires Argentina`s steel giant
TV18 acquires 53% stake in Infomedia
ADB allocates USD 9.2 bn for infrastructure
RIL to infuse USD 12 bn to develop three gas basins
Diamond Power Infra to buy European co.

Tata Steel enters into JV with African co.
RIL to acquire Hualon`s assets
United Phosphorus keen on Australia`s Nufarm
Egypt to strike alliance with IOC for USD 9 bn refinery



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Kolte-Patil likely to list above Rs 200: Experts

Kolte-Patil likely to list above Rs 200: Experts


Pune based real estate developer, Kolte-Patil Developers, will list on the bourses on December 13, 2007. Analysts told Moneycontrol.com that the stock is likely to list above Rs 200 and advised to book profits above Rs 250.R S Iyer of K R Choksey Securities said, "Kolte Patil is expected to list at around Rs 200-215. Above Rs 250, one can book profits."

"Kolte Patil Developers is likely to list at Rs 230 against its issue price of Rs 145. Investors are advised to hold", Investment Advisor, S P Tulsian said.

The company had entered capital market with an public issue of 19,000,836 equity shares of Rs 10 each for cash at a price band between Rs 125 and Rs 145 per equity share.

The objects of the issue were to finance acquisition of development rights; finance the construction and development costs for some of the proposed projects; fund expenditure for general corporate purposes and achieve the benefits of listing on the Stock Exchange. The book running lead managers to the issue are DSP Merrill Lynch Limited and Edelweiss Capital Limited.


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Edelweiss Cap ends with 83% and Other IPO News : Moneycontrol.Com

Cheerful day for Edelweiss Cap, ends with 83%


It was a cheerful day for Edelweiss Capital, a diversified financial services company, which surged 95% before ending the day at Rs 1510.25 (up 83.06%) as against offer price of Rs 825 on the NSE. The stock has touched a high of Rs 1608.75 and low of Rs 1443.75. It has remained above Rs 1500 mark on the back of buying support from institutional investors.
It traded with volumes of 66,86,196 shares and turnover at Rs 1020 crore.

Rashesh Shah, CMD and CEO, Edelweiss Capital said, in an interview to CNBC-TV18, that they are in the final stages of getting the nod from Sebi for MF business; it will kick off in Q1CY08. He said the revenues may not move in line with markets yet, but other businesses will help in stabilising them.

The stock touched a high of Rs 1608.75 and low of Rs 1443.75 before settling the day at Rs 1509.95 on the BSE. It traded with volumes of 36,16,374 shares.
The company had come out with a public issue of 8,386,147 equity shares of Rs 5 each for cash, at a price band of Rs 725-825 per equity share. It had subscribed 111 times.

More @
Cheerful day for Edelweiss Cap, ends with 83%
MF biz to kick off in Q1CY08: Edelweiss Cap


Other IPO news:

Renaissance Jewellery gains 25% on day one
Renaissance Jwly plans 250 retail outlets over 3 yrs
Transformers IPO subscribed 66 times
BGR Energy Systems IPO subscribed 92 times


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...

Vikram Pandit is new Citigroup CEO

Moneycontrol.Com


Indian born Vikram Pandit has been appointed CEO of Citigroup. Pandit faces a complex challenge at Citi. The group could still face additional losses of billions of dollars related to troubled housing loans. Citi stock has been down about 40% this year alone. Pandit was earlier Senior Executive at Morgan Stanley. Pandit founded hedge fund Old Lane that was acquired by Citi in April. According to reports, Former Chairman of the Group, Robert Rubin lobbied for Pandit.

Pandit said, “I am extremely honoured on becoming Citi's leader and I am looking forward to driving changes that I believe we need in this organisation.”

He added, "This is one of the world’s great financial institutions. The brand, the franchise, the presence around the world, the capabilities it has are enormous and when you look at the future of the financial services business, and pair that off against the capabilities that this organization has the opportunities are tremendous. I think the future ahead of us is one of putting the two together and making something good happen out of it and I am excited about being a part of that."


Excerpts from the exclusive interview with Vikram Pandit:

More@ Vikram Pandit is new Citigroup CEO



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Fed cuts interest rates by 25 bps to 4.25%: Moneycontrol.Com

Fed cuts interest rates by 25 bps to 4.25%

The US Federal Reserve lowered its benchmark interest rate by a quarter point to 4.25 percent, while signaling that it is open to further cuts if the housing slump and credit squeeze worsen.

The Central Bank also cut the discount rate by a quarter point to 4.75 percent, counter to speculation among investors that the Fed would make a deeper reduction.

The FOMC said, “Recent developments, including the deterioration in financial market conditions, have increased the uncertainty surrounding the outlook for economic growth and inflation.”

The Fed dropped language from its previous statement that risks of slower growth and faster inflation were ``roughly'' balanced. In a statement the FOMC said that recent developments, including the deterioration in financial market conditions, have increased the uncertainty surrounding the outlook for economic growth and inflation.

It added, “Lower borrowing costs should help promote moderate growth over time.”

The FOMC further said that lower borrowing costs should help promote moderate growth over time. Policy makers are actively considering steps to ease credit in financial markets, and haven't ruled out moves to increase liquidity before their next scheduled meeting on January 29-30.

According to CNBC analyst, Steve Leisman, there is a fairly widespread disappointment with the Fed. He said, “Not just here in the instinctive reaction of the markets, but I am talking about the considered opinion of seasoned Fed observers. The problem was not by the way - I don’t believe - with the quarter point rate cut. They did cut the overnight lending rate by a quarter to 4.25%.

It left the discount window unchanged. That is the rate where banks can borrow directly from the Fed with a wide variety of securities. That is the disappointment that I am taking up anyway. Meanwhile the Fed continued to raise concerns about inflation and did not say that the primary risk to the economy is for weakness instead of growth.”


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