Sterlite plans Rs 8000 cr IPO
Vedanta Resources is considering an initial public offering of Sterlite Energy, its Indian energy unit, to raise up to $2 billion to spearhead its push into the country’s power sector. The move comes as the UK-listed group is facing increasing controversy over its human rights and environmental record in India, with Norway this week dropping the mining and metals group from its $350 billion sovereign wealth fund for ethical reasons.
Sterlite Energy, controlled by Sterlite Industries, India’s largest metals and mining company and part of the Vedanta group, is planning to build power projects with total capacity of 10,000 megawatts in the country. Sterlite Industries told the Bombay Stock Exchange this week that it was considering “financing options for these projects, including the issuance of equity and incurrence of debt”.
People familiar with Sterlite’s plans said that, as part of this, it was considering an initial public offering, probably in India, to raise between $1 billion and $2 billion to fund the plan. The move marks a significant diversification for Vedanta into power generation at a time when India is aggressively soliciting funding for the sector. The government estimates India needs to invest $490 billion in the next five years in infrastructure, a large proportion of which will be dedicated to the power sector.
Reliance Energy, a unit of the conglomerate controlled by Anil Ambani, is planning to raise about Rs 12,000 crore in what will be the country’s biggest IPO. Vedanta declined to comment on the plans for an initial public offering. In its statement, Sterlite Industries said it planned to invest in government projects and in its own initiatives. “The majority of these projects, if awarded and approved, are expected to be commissioned over the next five years,” it said.
But Vedanta will have to deal with concerns from international investors following the move by Norway’s Government Pension Fund – Global, known as the “oil fund”, to bar investment in Vedanta, Sterlite Industries and another unit Madras Aluminium Company. Norway’s finance ministry said: “The fund runs an unacceptable risk of contributing to severe environmental damages and serious or systematic violations of human rights by continuing to invest in the company.”
Last month, thousands of Indian tribal people protested against a Vedanta alumina refinery being set up in Lanjigarh, in the eastern state of Orissa. Vedanta on Thursday declined to comment, saying the the Landijargh case was sub judice in the Indian courts.
But the company said it upheld the highest standards of corporate social responsibility.
---------------------------------------
Moneycontrol.Com
Sensex gains 50%
Birla Power Solutions zooms to new high -
Gitanjali Gems shine up 7.4%
BSE launches BSE Power Index with 14 stocks
Sharp decline in MF NAVs as mkts end on weak note
Be careful about RPL, RNRL: Suri -
Invest in fundamentally strong stocks: Enam Sec -
Blockbuster weekend: OSO vs Saawariya
RIL awarded OG contract in Kurdistan Region of Iraq
----------------------------
Myiris.Com
INOX Leisure opens new multiplex at Lucknow
Weekly wrap up: Gilt yields edge up on hike in MSS ceiling to Rs 25 tn
11th Plan aims average growth rate of 9%
Bank credit up 22.5%
Wrap Up: Market ends 150 pts down in `Muhurat Trading`
SAIL to ink pact with Railways for rail link
Inflation falls to 2.97% on low prices of primary articles
---------------------------
Rediff.Com
Dealing with goons on the Internet
Samvat 2063: Investors had a blast
----------------------------
Others:
Coal: A viable alternative
Samvat 2064 starts on a subdued note
Vedanta plans up to $2 bln IPO for Indian unit-report
Blackstone invests Rs 255 cr in MTAR for 26% stake
Rel Power may win AP ultra mega project
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This blog is for providing daily news of Corporate Indian Stories, Corporate Results, Equities, MFs, Banking,Insurance, Brokerages Informations, World Business, Venture Capital, Angel Investors, BSchools, MBAs,Jobs, Politics & something Interesting.Our team will be grateful to the owners of various Indian/world/govt sites to refer their sites to get INFORMATION without objection.Request viewers to make verification about the information. Blog is not responsible for any faulty information.
10 November 2007
Gainers of the Week
Some gainers of the Week
Company
Group
Prev Close (Rs)
Current Price (Rs)
% Change
+
Ispat Industries
A
26.90
36.00
+ 33.83
+
HMT Ltd.
A
60.90
78.60
+ 29.06
+
National Alumini
A
303.35
370.55
+ 22.15
+
Neyveli Lignite
A
141.05
167.10
+ 18.47
+
GAIL India Ltd.
A
393.35
463.25
+ 17.77
+
Fertilisers & Ch
A
28.55
32.85
+ 15.06
+
GMR Infrastructure L
A
182.90
209.80
+ 14.71
+
Federal Bank
A
394.25
446.95
+ 13.37
+
Power Finance Co
A
241.20
270.75
+ 12.25
+
Raymond Ltd
A
353.20
395.95
+ 12.10
+
Hind. Petrol
A
239.15
266.95
+ 11.62
+
Dena Bank
A
72.50
80.35
+ 10.83
+
Dredging Corpora
A
959.05
1,051.95
+ 9.69
+
Hindalco Indus.
A
187.50
202.20
+ 7.84
+
Welspun Gujarat
A
315.90
338.55
+ 7.17
+
Chennai Petro.
A
324.60
347.55
+ 7.07
+
National Fertili
A
66.80
71.45
+ 6.96
+
Indian Oil Corp
A
495.70
528.85
+ 6.69
+
Mangalore Refine
A
82.10
86.70
+ 5.60
+
Mirc Electronics
A
19.25
20.05
+ 4.16
+
Bharat Petroleum
A
342.60
355.00
+ 3.62
+
Britannia Ind.
A
1,500.65
1,554.90
+ 3.62
+
JaiprakashAssociates
A
1,446.70
1,491.70
+ 3.11
+
NTPC
A
234.75
241.35
+ 2.81
+
BEML Ltd.
A
1,535.05
1,574.10
+ 2.54
+
Reliance Capital
A
1,985.70
2,032.40
+ 2.35
------------------------
Company
Group
Prev Close (Rs)
Current Price (Rs)
% Change
+
Parle Software Ltd.
B1
1,201.80
1,739.55
+ 44.75
+
Cambridge Technology
B1
41.90
59.80
+ 42.72
+
Ramsarup Industries
B1
172.70
232.40
+ 34.57
+
GTC Industries
B1
304.80
407.45
+ 33.68
+
Goldstone Tech
T
160.40
213.30
+ 32.98
+
Transwarranty Financ
B1
25.55
32.90
+ 28.77
+
State Trading
B1
1,015.20
1,295.55
+ 27.62
+
Dewan Housing
B1
111.65
142.45
+ 27.59
+
MSP Steel & Power Lt
B1
47.80
60.90
+ 27.41
+
Surya Roshni Ltd
B1
53.90
67.90
+ 25.97
+
RPG Transmissi
B1
273.95
341.35
+ 24.60
+
State Bank Of My
B1
8,250.05
10,150.00
+ 23.03
+
Saamya Biotech (Indi
B1
11.43
14.06
+ 23.01
+
PremierLtd.
B1
95.10
116.95
+ 22.98
+
ITI
B1
43.05
52.75
+ 22.53
+
NoidaTollBridge
B1
41.50
50.25
+ 21.08
+
JRG Securities Ltd.
B1
54.00
65.35
+ 21.02
+
Repro India Ltd.
B1
100.00
120.45
+ 20.45
+
Punj. Alkalie
B1
29.00
34.50
+ 18.97
+
NOCIL
B1
40.30
47.75
+ 18.49
+
Agro Dutch Industrie
B1
30.70
36.35
+ 18.40
+
KEC International Lt
B1
714.20
843.65
+ 18.13
+
Vikash Metal & Power
B1
18.80
22.00
+ 17.02
+
Sunflag Iron
B1
23.60
27.55
+ 16.74
+
Wire & Wireless ( In
B1
40.25
46.90
+ 16.52
+
SolectronCentumElect
B1
162.10
188.45
+ 16.26
+
Net 4 India
B1
77.25
89.70
+ 16.12
+
XL Telecom & Energy
B1
241.55
280.30
+ 16.04
+
Usha Martin Ltd.
B1
89.05
102.90
+ 15.55
+
KCP Ltd.
B1
465.50
536.30
+ 15.21
+
Bank of Maharash
B1
59.95
69.05
+ 15.18
+
Godrej Industries Lt
B1
218.55
251.65
+ 15.15
+
Orbit Corporation
B1
559.65
644.00
+ 15.07
+
PTC India
B1
132.70
152.40
+ 14.85
---------------------------
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.rediff.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers
Company
Group
Prev Close (Rs)
Current Price (Rs)
% Change
+
Ispat Industries
A
26.90
36.00
+ 33.83
+
HMT Ltd.
A
60.90
78.60
+ 29.06
+
National Alumini
A
303.35
370.55
+ 22.15
+
Neyveli Lignite
A
141.05
167.10
+ 18.47
+
GAIL India Ltd.
A
393.35
463.25
+ 17.77
+
Fertilisers & Ch
A
28.55
32.85
+ 15.06
+
GMR Infrastructure L
A
182.90
209.80
+ 14.71
+
Federal Bank
A
394.25
446.95
+ 13.37
+
Power Finance Co
A
241.20
270.75
+ 12.25
+
Raymond Ltd
A
353.20
395.95
+ 12.10
+
Hind. Petrol
A
239.15
266.95
+ 11.62
+
Dena Bank
A
72.50
80.35
+ 10.83
+
Dredging Corpora
A
959.05
1,051.95
+ 9.69
+
Hindalco Indus.
A
187.50
202.20
+ 7.84
+
Welspun Gujarat
A
315.90
338.55
+ 7.17
+
Chennai Petro.
A
324.60
347.55
+ 7.07
+
National Fertili
A
66.80
71.45
+ 6.96
+
Indian Oil Corp
A
495.70
528.85
+ 6.69
+
Mangalore Refine
A
82.10
86.70
+ 5.60
+
Mirc Electronics
A
19.25
20.05
+ 4.16
+
Bharat Petroleum
A
342.60
355.00
+ 3.62
+
Britannia Ind.
A
1,500.65
1,554.90
+ 3.62
+
JaiprakashAssociates
A
1,446.70
1,491.70
+ 3.11
+
NTPC
A
234.75
241.35
+ 2.81
+
BEML Ltd.
A
1,535.05
1,574.10
+ 2.54
+
Reliance Capital
A
1,985.70
2,032.40
+ 2.35
------------------------
Company
Group
Prev Close (Rs)
Current Price (Rs)
% Change
+
Parle Software Ltd.
B1
1,201.80
1,739.55
+ 44.75
+
Cambridge Technology
B1
41.90
59.80
+ 42.72
+
Ramsarup Industries
B1
172.70
232.40
+ 34.57
+
GTC Industries
B1
304.80
407.45
+ 33.68
+
Goldstone Tech
T
160.40
213.30
+ 32.98
+
Transwarranty Financ
B1
25.55
32.90
+ 28.77
+
State Trading
B1
1,015.20
1,295.55
+ 27.62
+
Dewan Housing
B1
111.65
142.45
+ 27.59
+
MSP Steel & Power Lt
B1
47.80
60.90
+ 27.41
+
Surya Roshni Ltd
B1
53.90
67.90
+ 25.97
+
RPG Transmissi
B1
273.95
341.35
+ 24.60
+
State Bank Of My
B1
8,250.05
10,150.00
+ 23.03
+
Saamya Biotech (Indi
B1
11.43
14.06
+ 23.01
+
PremierLtd.
B1
95.10
116.95
+ 22.98
+
ITI
B1
43.05
52.75
+ 22.53
+
NoidaTollBridge
B1
41.50
50.25
+ 21.08
+
JRG Securities Ltd.
B1
54.00
65.35
+ 21.02
+
Repro India Ltd.
B1
100.00
120.45
+ 20.45
+
Punj. Alkalie
B1
29.00
34.50
+ 18.97
+
NOCIL
B1
40.30
47.75
+ 18.49
+
Agro Dutch Industrie
B1
30.70
36.35
+ 18.40
+
KEC International Lt
B1
714.20
843.65
+ 18.13
+
Vikash Metal & Power
B1
18.80
22.00
+ 17.02
+
Sunflag Iron
B1
23.60
27.55
+ 16.74
+
Wire & Wireless ( In
B1
40.25
46.90
+ 16.52
+
SolectronCentumElect
B1
162.10
188.45
+ 16.26
+
Net 4 India
B1
77.25
89.70
+ 16.12
+
XL Telecom & Energy
B1
241.55
280.30
+ 16.04
+
Usha Martin Ltd.
B1
89.05
102.90
+ 15.55
+
KCP Ltd.
B1
465.50
536.30
+ 15.21
+
Bank of Maharash
B1
59.95
69.05
+ 15.18
+
Godrej Industries Lt
B1
218.55
251.65
+ 15.15
+
Orbit Corporation
B1
559.65
644.00
+ 15.07
+
PTC India
B1
132.70
152.40
+ 14.85
---------------------------
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.rediff.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers
Economic Times Headlines
PE investors pour money into virgin sectors
India's debt market at $1.5 trillion by 2016?
Muhurat trading: Markets plunge
Analysts' picks
Centre will provide funds for TN's metro rail project: FM
Adani to hike Mundra plant capacity by 2,000 MW, plans IPO for APL
IIMs' finance clubs launch magazine
Govt to finance hostel construction for SC girl students
Calcutta Stock Exchange rises 26.56 points
LIC (South Zone) to appoint 150 Financial service execs
LIOC losing $6 mn per month on spiralling crude prices
Banks against SEZ land acquisitions funding
Infrastructure private spending will be $100bn by '12
Companies queue up to open shop at SEZ in Dahej
SEZ developers may get sick companies’ land
Google dubbed late entrant in mobile software biz
Visa files for $10 billion IPO
It's a cracker of a Diwali for retailers
Forex reserves up at $266.5 bn
Executives optimistic on economy
Govt to provide Rs 10,300 cr to FCI
US stocks end week with huge drop
World's premier currency is battered
BSE launches power index
Adani plans IPO for APL
------------------------------------------
Not many diversified funds match Sensex gains
5 Nov, 2007, 1231 hrs IST,Muthukumar K
Out of the 139 funds that were analysed, only 26 equity schemes managed to outperform the Sensex.
---------------------------------------------
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.theeconomictimes.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
India's debt market at $1.5 trillion by 2016?
Muhurat trading: Markets plunge
Analysts' picks
Centre will provide funds for TN's metro rail project: FM
Adani to hike Mundra plant capacity by 2,000 MW, plans IPO for APL
IIMs' finance clubs launch magazine
Govt to finance hostel construction for SC girl students
Calcutta Stock Exchange rises 26.56 points
LIC (South Zone) to appoint 150 Financial service execs
LIOC losing $6 mn per month on spiralling crude prices
Banks against SEZ land acquisitions funding
Infrastructure private spending will be $100bn by '12
Companies queue up to open shop at SEZ in Dahej
SEZ developers may get sick companies’ land
Google dubbed late entrant in mobile software biz
Visa files for $10 billion IPO
It's a cracker of a Diwali for retailers
Forex reserves up at $266.5 bn
Executives optimistic on economy
Govt to provide Rs 10,300 cr to FCI
US stocks end week with huge drop
World's premier currency is battered
BSE launches power index
Adani plans IPO for APL
------------------------------------------
Not many diversified funds match Sensex gains
5 Nov, 2007, 1231 hrs IST,Muthukumar K
Out of the 139 funds that were analysed, only 26 equity schemes managed to outperform the Sensex.
---------------------------------------------
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.theeconomictimes.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
The best companies to work for in India
from Business-Today.Com
--------------------------------------------------------------------------------
A BT-Mercer-TNS study.
The best companies to work for in India
Six months of survey and analysis, 94 final participants, and hundreds of man-days of reporting is what it took to bring you the stories of India’s best employers. It’s a list still dominated by IT companies, but that’s fast changing. A BT-Mercer-TNS study.
Uneasy lies the head that wears a crown, they say. Indian IT’s iconic employer, Infosys Technologies, should know exactly how that feels. In the six Best Companies to Work for In India surveys that have preceded this, the Bangalorebased tech giant has topped four of them. This year, it has stumbled.
Rather, it’s been tripped up; partly by the sheer scale-up in its workforce and partly by the soaring aspirations of its young employees. So, the former Numero Uno stands humbled at #5. Instead, there’s a new #1 on our list.
It’s a surprising topper, simply because, although it’s a household name around the world, misty-eyed affection isn’t what its name evokes. We are, of course, talking about Microsoft. However, employees in its six different units in India seem to be in love with the software giant. Elsewhere in this issue, we tell you why.
In a list dominated by IT companies, it takes a lot for non-IT players to break into the top ranks (this year, based on participant feedback, we have decided to feature the top 15 companies, instead of the usual 10. As usual, the identity of the other participants will be kept confidential, although we would be happy to provide them with feedback on their performance in a limited way).
So, Johnson & Johnson, Dr Reddy’s Labs, Marriott Hotels India, and Godrej Consumer Products, take a bow. Finally, you’ll find that some of the survey features run into four pages, while the others are two-pagers. There’s a simple reason behind it: all the new entrants (seven of them) get a more in-depth treatment, while the others, who have featured previously, get a sharply-focussed look. The only exception is Infosys, which, because of its surprising fall from grace, gets a longer pat-down.
The best companies to work for in India
----------------------------------------------
Changing viewersNov 4, 2007
Cool Companies
Business Today's fourth annual listing of 10 companies that are hip and happening. What made each of them stand up and be counted? Read on.
----------------------------------------------
The Best Sector Funds
If you doubt whether thematic or sector funds really do well, take a look at the top 10 funds in the market. Eight of the top 10 funds over the last year have been either sector or thematic funds.
---------------------------------------------
For a few rupees less
As the festive season kicks off, it’s time to go discount shopping.
A simple cover
The new ULIP plan from Birla Sun Life offers a chance to invest in mid-caps.
The gold coin rush
It's raining gold coins, should you be buying now?
The rule-based fund manager
A new fund uses pre-determined quantitative analysis to pick stocks. Is it for you?
----------------------------------------------
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.business-today.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
--------------------------------------------------------------------------------
A BT-Mercer-TNS study.
The best companies to work for in India
Six months of survey and analysis, 94 final participants, and hundreds of man-days of reporting is what it took to bring you the stories of India’s best employers. It’s a list still dominated by IT companies, but that’s fast changing. A BT-Mercer-TNS study.
Uneasy lies the head that wears a crown, they say. Indian IT’s iconic employer, Infosys Technologies, should know exactly how that feels. In the six Best Companies to Work for In India surveys that have preceded this, the Bangalorebased tech giant has topped four of them. This year, it has stumbled.
Rather, it’s been tripped up; partly by the sheer scale-up in its workforce and partly by the soaring aspirations of its young employees. So, the former Numero Uno stands humbled at #5. Instead, there’s a new #1 on our list.
It’s a surprising topper, simply because, although it’s a household name around the world, misty-eyed affection isn’t what its name evokes. We are, of course, talking about Microsoft. However, employees in its six different units in India seem to be in love with the software giant. Elsewhere in this issue, we tell you why.
In a list dominated by IT companies, it takes a lot for non-IT players to break into the top ranks (this year, based on participant feedback, we have decided to feature the top 15 companies, instead of the usual 10. As usual, the identity of the other participants will be kept confidential, although we would be happy to provide them with feedback on their performance in a limited way).
So, Johnson & Johnson, Dr Reddy’s Labs, Marriott Hotels India, and Godrej Consumer Products, take a bow. Finally, you’ll find that some of the survey features run into four pages, while the others are two-pagers. There’s a simple reason behind it: all the new entrants (seven of them) get a more in-depth treatment, while the others, who have featured previously, get a sharply-focussed look. The only exception is Infosys, which, because of its surprising fall from grace, gets a longer pat-down.
The best companies to work for in India
----------------------------------------------
Changing viewersNov 4, 2007
Cool Companies
Business Today's fourth annual listing of 10 companies that are hip and happening. What made each of them stand up and be counted? Read on.
----------------------------------------------
The Best Sector Funds
If you doubt whether thematic or sector funds really do well, take a look at the top 10 funds in the market. Eight of the top 10 funds over the last year have been either sector or thematic funds.
---------------------------------------------
For a few rupees less
As the festive season kicks off, it’s time to go discount shopping.
A simple cover
The new ULIP plan from Birla Sun Life offers a chance to invest in mid-caps.
The gold coin rush
It's raining gold coins, should you be buying now?
The rule-based fund manager
A new fund uses pre-determined quantitative analysis to pick stocks. Is it for you?
----------------------------------------------
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.business-today.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Sensex ends Muhurat session with a big loss
Despite a rousing start, it turned out to be a weak outing for several blue chip stocks in the short one hour Muhurat Trading Session today. The session convened by the bourses to mark the beginning of Samvat Year 2064 saw the Sensex extending its recent losses and close in the red, way down from a high of 19,329.57 it had touched in early trade.
While the Sensex finished with a loss of 151.33 points or 0.79%, the broader 50-stock Nifty index of the National Stock Exchange ended with a loss of 35.50 points or 0.62% at 5663.25.
The Nifty, which had touched a high of 5794.20 in early trade this evening, plunged to a low of 5614.90 during the final minutes of the session. The Sensex crashed to a low of 18,737.22. This is the worst ever setback suffered by the market in special trading sessions.
India's inflation dropped down to 2.97%, its lowest in more than five years, but weak global markets continued to dampen the mood of investors and pushed the indices to a negative close for the fifth straight session today. Participants appeared keen on utilising the one hour trading opportunity to book profits due to sustained weakness in global markets.
As the mood turned quite bearish, only a few stocks, Reliance Communications (0.7%), Cipla (0.45%), NTPC (0.4%), Ranbaxy Laboratories (0.3%) and ONGC (0.2%), among the Sensex components ended on the positive side today.
ACC lost nearly 3.5%. ICICI Bank and Wipro closed lower by 2.15% and 2.05% respectively. Satyam Computer Services, Bharti Airtel, HDFC, Tata Motors, HDFC Bank, Bajaj Auto, Tata Steel, Grasim Industries, Mahindra & Mahindra and State Bank of India lost 1% - 2%.
Hindustan Unilever, Ambuja Cements, Infosys Technologies, Hindalco, Reliance Energy, Tata Consultancy Services and BHEL also closed with sharp losses. Maruti Suzuki eased by around 0.35%. Dr. Reddy's Laboratories, Larsen & Toubro, ITC and Reliance Industries ended marginally lower.
Oil stocks Hindustan Petroleum Corporation, BPCL, Indian Oil Corporation, Reliance Petroleum and Essar Oil closed with strong gains on expectations of a hike in fuel prices.
Suzlon Energy, Ispat Industries, National Fertilizers, Fertilizers & Chemicals, Essel Propack, Gujarat Minerals, Gillette, Indo Rama Synthetics, Spice Telecom, Britannia Industries, Ramco Systems, Punjab Tractors, FDC, Dredging Corporation, Raymond, Apollo Tyre, ING Vysya Bank, Container Corporation and Finolex Cables surged higher on firm buying support.
Though the indices went down sharply, the market breadth remained positive thanks to a fairly strong display by stocks in the midcap and smallcap segments.
Muhurat Day: Sensex ends down 151pts
The Sensex, began Samvat 2064 with a bang, opened with a positive gap of 224 points at 19,283, and soon touched a high of 19,330. The index, however, could not hold gains for long as profit taking at higher levels saw the index slip into red.The index tumbled to a low of 18,737 - down 546 points from the day's high. The Sensex finally ended with a loss of 151 points at 18,908 on this special trading day.In the process, the index finished in red for the first time in the last ten years on Muhurat trading day.
MUHURAT TRADING
Date
Sensex Close
Net Chg
Nov 09, 2007
18,907.60
-151.33
Oct 21, 2006
12,736.82
27.42
Nov 02, 2005
8072.75
128.65
Nov 12, 2004
5964.01
9.67
Oct 25, 2003
4802.28
44.91
Nov 04, 2002
2987.58
37.00
Nov 14, 2001
3113.04
35.85
Oct 26, 2000
3757.16
13.55
Nov 07, 1999
4650.54
52.09
Oct 19, 1998
2853.27
5.16
Oct 30, 1997
3803.24
-131.09
Nov 10, 1996
3080.26
13.60
* Data by BS Research Bureau The BSE Bankex dropped 1.4% to 10,212. The IT and Metal indices slipped 1% each to 4253 and 16,864, respectively.ACC plunged 3.5% to Rs 1,020. ICICI Bank and Wipro slipped over 2% each to Rs 1,143 and Rs 460, respectively.Satyam shed 1.8% at Rs 427. Bharti Airtel, HDFC and Tata Motors dropped 1.5% each to Rs 871, Rs 2,523 and Rs 696, respectively.HDFC Bank, Bajaj Auto and Tata Steel declined 1.3% each to Rs 1,538, Rs 2,398 and Rs 834, respectively.Grasim, Mahindra & Mahindra and SBI were down 1% each at Rs 3,503, Rs 744 and Rs 2,162, respectively.The market breadth, however, was fairly positive - out of 2,557 stocks traded, 1,792 advanced, 701 declined and 64 were unchanged today.
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.business-standard.com www.sify.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
While the Sensex finished with a loss of 151.33 points or 0.79%, the broader 50-stock Nifty index of the National Stock Exchange ended with a loss of 35.50 points or 0.62% at 5663.25.
The Nifty, which had touched a high of 5794.20 in early trade this evening, plunged to a low of 5614.90 during the final minutes of the session. The Sensex crashed to a low of 18,737.22. This is the worst ever setback suffered by the market in special trading sessions.
India's inflation dropped down to 2.97%, its lowest in more than five years, but weak global markets continued to dampen the mood of investors and pushed the indices to a negative close for the fifth straight session today. Participants appeared keen on utilising the one hour trading opportunity to book profits due to sustained weakness in global markets.
As the mood turned quite bearish, only a few stocks, Reliance Communications (0.7%), Cipla (0.45%), NTPC (0.4%), Ranbaxy Laboratories (0.3%) and ONGC (0.2%), among the Sensex components ended on the positive side today.
ACC lost nearly 3.5%. ICICI Bank and Wipro closed lower by 2.15% and 2.05% respectively. Satyam Computer Services, Bharti Airtel, HDFC, Tata Motors, HDFC Bank, Bajaj Auto, Tata Steel, Grasim Industries, Mahindra & Mahindra and State Bank of India lost 1% - 2%.
Hindustan Unilever, Ambuja Cements, Infosys Technologies, Hindalco, Reliance Energy, Tata Consultancy Services and BHEL also closed with sharp losses. Maruti Suzuki eased by around 0.35%. Dr. Reddy's Laboratories, Larsen & Toubro, ITC and Reliance Industries ended marginally lower.
Oil stocks Hindustan Petroleum Corporation, BPCL, Indian Oil Corporation, Reliance Petroleum and Essar Oil closed with strong gains on expectations of a hike in fuel prices.
Suzlon Energy, Ispat Industries, National Fertilizers, Fertilizers & Chemicals, Essel Propack, Gujarat Minerals, Gillette, Indo Rama Synthetics, Spice Telecom, Britannia Industries, Ramco Systems, Punjab Tractors, FDC, Dredging Corporation, Raymond, Apollo Tyre, ING Vysya Bank, Container Corporation and Finolex Cables surged higher on firm buying support.
Though the indices went down sharply, the market breadth remained positive thanks to a fairly strong display by stocks in the midcap and smallcap segments.
Muhurat Day: Sensex ends down 151pts
The Sensex, began Samvat 2064 with a bang, opened with a positive gap of 224 points at 19,283, and soon touched a high of 19,330. The index, however, could not hold gains for long as profit taking at higher levels saw the index slip into red.The index tumbled to a low of 18,737 - down 546 points from the day's high. The Sensex finally ended with a loss of 151 points at 18,908 on this special trading day.In the process, the index finished in red for the first time in the last ten years on Muhurat trading day.
MUHURAT TRADING
Date
Sensex Close
Net Chg
Nov 09, 2007
18,907.60
-151.33
Oct 21, 2006
12,736.82
27.42
Nov 02, 2005
8072.75
128.65
Nov 12, 2004
5964.01
9.67
Oct 25, 2003
4802.28
44.91
Nov 04, 2002
2987.58
37.00
Nov 14, 2001
3113.04
35.85
Oct 26, 2000
3757.16
13.55
Nov 07, 1999
4650.54
52.09
Oct 19, 1998
2853.27
5.16
Oct 30, 1997
3803.24
-131.09
Nov 10, 1996
3080.26
13.60
* Data by BS Research Bureau The BSE Bankex dropped 1.4% to 10,212. The IT and Metal indices slipped 1% each to 4253 and 16,864, respectively.ACC plunged 3.5% to Rs 1,020. ICICI Bank and Wipro slipped over 2% each to Rs 1,143 and Rs 460, respectively.Satyam shed 1.8% at Rs 427. Bharti Airtel, HDFC and Tata Motors dropped 1.5% each to Rs 871, Rs 2,523 and Rs 696, respectively.HDFC Bank, Bajaj Auto and Tata Steel declined 1.3% each to Rs 1,538, Rs 2,398 and Rs 834, respectively.Grasim, Mahindra & Mahindra and SBI were down 1% each at Rs 3,503, Rs 744 and Rs 2,162, respectively.The market breadth, however, was fairly positive - out of 2,557 stocks traded, 1,792 advanced, 701 declined and 64 were unchanged today.
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.business-standard.com www.sify.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Corporate/Personailty of the Day
Naveen Jain
Naveen Jain is a serial entrepreneur and his latest venture is Intelius which he founded in 2003. He is actively engaged in the company as a Chief Executive Officer and Director of the Board. Previous to Intelius, Naveen Jain founded InfoSpace in March 1996 and was its Chief Executive Officer until December 2002. Before starting Infospace, Naveen was senior executive at Microsoft for its online service MSN.
Naveen Jain has received many awards including: Ernst & Young Entrepreneur of the Year; and Top 20 Entrepreneurs by Red Herring.
Naveen Jain resides in Bellevue, washington with his wife and 3 children.
For more, Visit: http://en.wikipedia.org/wiki/Naveen_Jain
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.
Naveen Jain is a serial entrepreneur and his latest venture is Intelius which he founded in 2003. He is actively engaged in the company as a Chief Executive Officer and Director of the Board. Previous to Intelius, Naveen Jain founded InfoSpace in March 1996 and was its Chief Executive Officer until December 2002. Before starting Infospace, Naveen was senior executive at Microsoft for its online service MSN.
Naveen Jain has received many awards including: Ernst & Young Entrepreneur of the Year; and Top 20 Entrepreneurs by Red Herring.
Naveen Jain resides in Bellevue, washington with his wife and 3 children.
For more, Visit: http://en.wikipedia.org/wiki/Naveen_Jain
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.
Labels:
Corporate/Personailty of the Day
09 November 2007
Headlines from ET and others
From ET
New York co to invest $100 mn in India
Citi elevates India investment banking head
Amtek sees $16-18 mn cost savings from UK acquisition
M&M may be back in race for Ford brands
Maruti bags order for 300 'Versa' from Orix
Matrix Partners India expands fund to $450 million
IDBI opens branches in Mumbai, Salem and Jhansi
Blackstone pays $65 mn for 25% stake in Hyderabad firm
Temptation Foods acquires CFCL's food processing division
GHCL to bring Rosebys to India
CERC proposes norms for telecom biz by transmission firms
Sterlite to invest Rs 40,000 cr in power sector
Welcome power exchange despite innate economic flaws
Kalpataru bets big on power generation biz
Raillways, NTPC join to set up 1,000-MW power plant
Usha Martin to sell subsidiary
Areva T&D to double capacity
Siemens aims to double India sales in 3 years
Steel production target increased to 80 MT by 2010
Steel prices may go up if input cost surge: SAIL
Pratibha Ind bags Rs 58.92 cr residential contract
Inflation at 2.97% on October 27
Business executives most optimistic on inflation, economy
MF corpus at all-time high of Rs 5.60 trillion in Oct
Blackstone investment tally here now at $900 mn this year
Goldman's 9-month executive pay tops Bear Stearns value
Stocks to watch: Shalimar Paints, Tata Tea, Biocon, Lupin
Market volatility: High net worth investors back IPOs
PSU stocks join the Diwali party
ICRA assigns Grade 3 to BGR Energy Systems IPO
Mold-Tek acquires US co; plans to raise $6 mn
Banks shore up profits despite falling NIMs
CRR hikes failed to bring down money supply growth
UTI AMC looks to foreign banks for pre-IPO deal
Controlling capital inflows without collateral damage
Mittal eyes 50% stake in HPCL arm
Shares set to rise further in 2008: JPMorgan
Capital goods sector: The star performer
Stocks to buy; REL, TCS, UCO Bank
Religare posts 'buy' on PVR at Rs 277
ICRA assigns Grade 3 to BGR Energy Systems IPO
-------------------------
From Myiris.com
Reliance Power secures another ultra mega power project
Redington India likely to acquire NBFC
Brokers` Outlook: Investors to rule `Muhurat` session on Oct. 9
Bank of England holds rate at 5.75%
Monnet Sugar swings to profit in Sep`07 qtr
Active Stock: UTV surges 7% on news of Disney hiking stake 08
RIL bags 2 oil blocks in Iraq
RPL banned from futures trading
-----------------------------------------------------
From Moneycontrol.Com
Diwali cracker stocks from experts
Dazzling picks to light up your Diwali
Reliance Capital has target of Rs 2600
Bajaj Hindustan can go upto Rs 230-235
Prized midcap picks you shouldn't miss
Best stocks to buy in volatile mkts
Value v/s Price Equation – Know it all
Mkts on uptrend, could see bouts of correction: Re...
Mundra Port IPO subscribed 116x; gets bids of USD ...
Mundra Port an excellent issue: Tulsian
Rel Power set to bag Krishnapatnam UMPP
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.
New York co to invest $100 mn in India
Citi elevates India investment banking head
Amtek sees $16-18 mn cost savings from UK acquisition
M&M may be back in race for Ford brands
Maruti bags order for 300 'Versa' from Orix
Matrix Partners India expands fund to $450 million
IDBI opens branches in Mumbai, Salem and Jhansi
Blackstone pays $65 mn for 25% stake in Hyderabad firm
Temptation Foods acquires CFCL's food processing division
GHCL to bring Rosebys to India
CERC proposes norms for telecom biz by transmission firms
Sterlite to invest Rs 40,000 cr in power sector
Welcome power exchange despite innate economic flaws
Kalpataru bets big on power generation biz
Raillways, NTPC join to set up 1,000-MW power plant
Usha Martin to sell subsidiary
Areva T&D to double capacity
Siemens aims to double India sales in 3 years
Steel production target increased to 80 MT by 2010
Steel prices may go up if input cost surge: SAIL
Pratibha Ind bags Rs 58.92 cr residential contract
Inflation at 2.97% on October 27
Business executives most optimistic on inflation, economy
MF corpus at all-time high of Rs 5.60 trillion in Oct
Blackstone investment tally here now at $900 mn this year
Goldman's 9-month executive pay tops Bear Stearns value
Stocks to watch: Shalimar Paints, Tata Tea, Biocon, Lupin
Market volatility: High net worth investors back IPOs
PSU stocks join the Diwali party
ICRA assigns Grade 3 to BGR Energy Systems IPO
Mold-Tek acquires US co; plans to raise $6 mn
Banks shore up profits despite falling NIMs
CRR hikes failed to bring down money supply growth
UTI AMC looks to foreign banks for pre-IPO deal
Controlling capital inflows without collateral damage
Mittal eyes 50% stake in HPCL arm
Shares set to rise further in 2008: JPMorgan
Capital goods sector: The star performer
Stocks to buy; REL, TCS, UCO Bank
Religare posts 'buy' on PVR at Rs 277
ICRA assigns Grade 3 to BGR Energy Systems IPO
-------------------------
From Myiris.com
Reliance Power secures another ultra mega power project
Redington India likely to acquire NBFC
Brokers` Outlook: Investors to rule `Muhurat` session on Oct. 9
Bank of England holds rate at 5.75%
Monnet Sugar swings to profit in Sep`07 qtr
Active Stock: UTV surges 7% on news of Disney hiking stake 08
RIL bags 2 oil blocks in Iraq
RPL banned from futures trading
-----------------------------------------------------
From Moneycontrol.Com
Diwali cracker stocks from experts
Dazzling picks to light up your Diwali
Reliance Capital has target of Rs 2600
Bajaj Hindustan can go upto Rs 230-235
Prized midcap picks you shouldn't miss
Best stocks to buy in volatile mkts
Value v/s Price Equation – Know it all
Mkts on uptrend, could see bouts of correction: Re...
Mundra Port IPO subscribed 116x; gets bids of USD ...
Mundra Port an excellent issue: Tulsian
Rel Power set to bag Krishnapatnam UMPP
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.
IPO Info
What caused Religare, Mundra to oversubscribe so much?
Some of the listed IPOs Performance as on 08.11.2007
http://www.moneycontrol.com/ipo/ipoissues/ipoissues.php?s=LI
-------------------------------------
Kolte Patil Developers Limited IPO - Kolte Patil IPO opens on 19th
Onmobile Global Limited IPO gets CRISIL IPO grade 4
eClerx Services Limited IPO gets a CRISIL IPO Grading of 3
Mundra Port IPO allotment chances looks good
Edelweiss Capital IPO Grading : Manages CRISIL IPO Grade 4
Larsen & Toubro GDR issue : L&T to go in for a GDR issue
--------------------------
UTI MF plans IPO by mid-Feb
Valuation of Edelweiss Cap looks attractive: SPA Sec
Gokul Refoils to raise 150 cr through IPO
Pyramid Saimira to launch IPO for production unit by Nov
Mundra Port IPO subscribed 116x; gets bids of USD 51.5 bn
Bharat Oman Refinery IPO by March 2009
-----------------------------------
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.moneycontrol.com www.bullishindian.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Some of the listed IPOs Performance as on 08.11.2007
http://www.moneycontrol.com/ipo/ipoissues/ipoissues.php?s=LI
-------------------------------------
Kolte Patil Developers Limited IPO - Kolte Patil IPO opens on 19th
Onmobile Global Limited IPO gets CRISIL IPO grade 4
eClerx Services Limited IPO gets a CRISIL IPO Grading of 3
Mundra Port IPO allotment chances looks good
Edelweiss Capital IPO Grading : Manages CRISIL IPO Grade 4
Larsen & Toubro GDR issue : L&T to go in for a GDR issue
--------------------------
UTI MF plans IPO by mid-Feb
Valuation of Edelweiss Cap looks attractive: SPA Sec
Gokul Refoils to raise 150 cr through IPO
Pyramid Saimira to launch IPO for production unit by Nov
Mundra Port IPO subscribed 116x; gets bids of USD 51.5 bn
Bharat Oman Refinery IPO by March 2009
-----------------------------------
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.moneycontrol.com www.bullishindian.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Job alerts and blog roundup
Analyst openings in Altos Advisory Services
From the Company:Altos is looking for Business Resource Executives and Financial Analysts. As a member of the Altos team, you can look forward to a rewarding career because Altos supports analysts with complete brokerage solutions including state-of-the-art risk management solutions and also round-the-clock research coverage from Chicago, New York, London, Dubai and Tokyo.If you have a penchant for the trade, we would like to hear from you. Write to us at career@altostrade.comFor more information visit company website at:http://www.altostrade.com/
--------------------------------
Analyst Openings in D.E Shaw India
Vacancies in Finance:1)Analyst - Financial Operations 2)Analyst, Global Private Equity Group 3)Manager, Financial Research 4)Senior Analyst, Financial Operations 5)Senior Analyst, Financial Research For details on these job profiles visit:http://www.deshawindia.com/positions-open.htmTo submit your Resume ue this link:http://www.deshawindia.com/careersmain.asp
--------------------------------------
Win 25,000 with TCS smart manager contest
The smart manager contest by TCS brings a case study for which if you can give a good analysis you stand to win Rs. 25,000.To read the case study and submit the answers visit:http://www.thesmartmanager.com/tcs/tcscasestudy.asp
----------------------------------------
3 Stock Picks to Grab on Market Corrections
The markets have been largely volatile with a good amount of correction happening.This brigs a good opportunity for long term investors to consider exposure to some quality stocks.Listed are 5 such stocks which can be good buys in corrections.1)Reliance Petroleum Ltd-The stock had a great rally and has correct some bit from its highs.With the project completion ahead of schedule and condsidering the high grade technology for the refinery the stock is good buy and accumulate considering a 3-5 year investment horizon for wonderful returns.2)Parsvnath Developers Ltd-This stock has dissapointed a lot in the markets but its plans are getting bigger and bigger and the efficiency of the management is clearly on display with projects being started and things happening as promised.With several triggers round the corner such as SEZ stake to FII's,foreign operator for its hotel business and a major upside in Q3 and Q4 results expected the stock looks very attractive at current levels and can give handsome returns.3)KEC International Ltd-This stock has been flying high and has still lot of steam left in it.The sector gives a major advantage as it has huge potential and it is being reflecting in the companies financials.With huge projects in hand from both India and overseas there is earnings visibility for next few years and the power sector growth will bring in more big projects to one of the largest companies in the world for Power - Transmission/Equipment.Certainly a stock to look out for and buy at every declines.
--------------------------------------
Jindal Photo Ltd. stock prospects
Company:Jindal Photo Ltd.Industry: Photographic & Allied Products CMP:247.35 PE Ratio: 9.24Recommendation:Outperformer
---------------------------------------
Aegis Logistics Ltd. stock prospects
Company:Aegis Logistics Ltd.Industry:Trading CMP:181.70 PE Ratio:12.58Recommendation:Outperformer
---------------------------------------
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.kpowave.blogspot.com and that authors other blogs and and for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Request viewers to make verification about the information and take own risk/decision in stock buying. Blog is not responsible for any faulty information.
From the Company:Altos is looking for Business Resource Executives and Financial Analysts. As a member of the Altos team, you can look forward to a rewarding career because Altos supports analysts with complete brokerage solutions including state-of-the-art risk management solutions and also round-the-clock research coverage from Chicago, New York, London, Dubai and Tokyo.If you have a penchant for the trade, we would like to hear from you. Write to us at career@altostrade.comFor more information visit company website at:http://www.altostrade.com/
--------------------------------
Analyst Openings in D.E Shaw India
Vacancies in Finance:1)Analyst - Financial Operations 2)Analyst, Global Private Equity Group 3)Manager, Financial Research 4)Senior Analyst, Financial Operations 5)Senior Analyst, Financial Research For details on these job profiles visit:http://www.deshawindia.com/positions-open.htmTo submit your Resume ue this link:http://www.deshawindia.com/careersmain.asp
--------------------------------------
Win 25,000 with TCS smart manager contest
The smart manager contest by TCS brings a case study for which if you can give a good analysis you stand to win Rs. 25,000.To read the case study and submit the answers visit:http://www.thesmartmanager.com/tcs/tcscasestudy.asp
----------------------------------------
3 Stock Picks to Grab on Market Corrections
The markets have been largely volatile with a good amount of correction happening.This brigs a good opportunity for long term investors to consider exposure to some quality stocks.Listed are 5 such stocks which can be good buys in corrections.1)Reliance Petroleum Ltd-The stock had a great rally and has correct some bit from its highs.With the project completion ahead of schedule and condsidering the high grade technology for the refinery the stock is good buy and accumulate considering a 3-5 year investment horizon for wonderful returns.2)Parsvnath Developers Ltd-This stock has dissapointed a lot in the markets but its plans are getting bigger and bigger and the efficiency of the management is clearly on display with projects being started and things happening as promised.With several triggers round the corner such as SEZ stake to FII's,foreign operator for its hotel business and a major upside in Q3 and Q4 results expected the stock looks very attractive at current levels and can give handsome returns.3)KEC International Ltd-This stock has been flying high and has still lot of steam left in it.The sector gives a major advantage as it has huge potential and it is being reflecting in the companies financials.With huge projects in hand from both India and overseas there is earnings visibility for next few years and the power sector growth will bring in more big projects to one of the largest companies in the world for Power - Transmission/Equipment.Certainly a stock to look out for and buy at every declines.
--------------------------------------
Jindal Photo Ltd. stock prospects
Company:Jindal Photo Ltd.Industry: Photographic & Allied Products CMP:247.35 PE Ratio: 9.24Recommendation:Outperformer
---------------------------------------
Aegis Logistics Ltd. stock prospects
Company:Aegis Logistics Ltd.Industry:Trading CMP:181.70 PE Ratio:12.58Recommendation:Outperformer
---------------------------------------
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.kpowave.blogspot.com and that authors other blogs and and for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Request viewers to make verification about the information and take own risk/decision in stock buying. Blog is not responsible for any faulty information.
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