Good News for Koutons Retail

Finally a Good News for Koutons Retail, Koutons Retail said bankers approved debt recast plan and interest rate on debt would be reduced  led by Indian Overseas Bank.As part of the restructuring, part of the working capital will be converted into working capital term loan, to fund the firm's interest due for two years.

Battle between Inox & Anil Ambani for Fame India rights issue

Battle between Inox & Anil Ambani  for Fame India rights issue
Inox holds: 50.27% & Reliance Capital: 35.39%

Tata Metaliks has made a JV with Fomento Resources Group

Tata Metaliks has made a JV with Fomento Resources Group for sale of its 3 lakh tonne pig iron making facility at Redi in Maharashtra for a consideration of Rs 180 crore.ata Metaliks today has signed an agreement with Fomento Resources Group who has presence in iron ore mining in Goa, Karnataka and Maharashtra.

UIDAI letter can be used for opening bank A/C now

UIDAI letter can be used for opening bank a/c.The Reserve Bank today asked the commercial banks to accept UIDAI letter as a valid document for opening bank accounts.After further consultations with Government, it has now been decided to accept the letter issued by the UIDAI as an officially valid document for opening bank accounts without the limitations applicable to Small accounts .Although the UIDAI contains details like name and address, the banks will be required to satisfy themselves about the current address of the customer under the KYC norms.Small accounts is a savings bank account in which the deposits in a year does not exceed Rs one lakh and balance at any point of time is not more than Rs 50,000.

IFCI ups stake in Tourism Finance corporation to 41.5% from 39.4%.

IFCI ups stake in Tourism Finance corporation  to 41.5% from 39.4%.

Punj Lloyd Group has bagged Rs 1,195 crore worth contract from Haldia Energy

Punj Lloyd Group has bagged Rs 1,195 crore worth contract from Haldia Energy, a wholly-owned subsidiary of Calcutta Electric Supply Company (CESC) for its 600-MW thermal power project.It is scheduled to be commissioned by 2014.

GAIL India had agreed to buy a 20% stake in shale gas in USA

GAIL India, State-run utility, had agreed to buy a 20% stake in one of Carrizo Oil & Gas Inc's shale gas assets in the United States. GAILwould invest a total of USD 300 million over the next five years.GAIL and Carrizo will form a joint venture in the US firm's lucrative Eagle Ford shale assets.GAIL's investment includes upfront cash payment of USD 63.7 million and a carry amount of USD 31.3 million linked to Carrizo's future drilling and development costs.

Environment ministry has cancelled the environment clearance to Sesa Goa

Environment ministry has cancelled the environment clearance given to Pirna Iron Ore Mines owned by Sesa Goa, a subsidiary of the Vedanta Group.The EIA report is the basis for appraising projects for green clearance.

In August 2009, the ministry had given the nod to the mine spread over 43 hectares across the Pirna and Nadora villages in north Goa, with an extraction limit of 2 lakh tonnes.
The cancellation comes at a time when the Goa government is facing criticism for illegal mining.Sesa Goa is among the four major mining companies in Goa.

Rakesh Jhunjhunwala & RK Damani pick up 14% in Sterling Holidays

Rakesh Jhunjhunwala & RK Damani pick up 14% in Sterling Holidays in last 2 months, both invested Rs 40 cr each

Beautiful Weather of Europe

                                                        Beautiful Weather of Europe



Wipro to sell Data Centres and Computer Harware Assets of it's US Unit

India's No.3 software services exporter Wipro is considering selling data centres and other computer hardware assets of its US unit Infocrossing,Wipro has received initial offers from several US telecom firms for sale of five data centres that could be worth around  USD 400 million.

Beautiful Scenes from Europe

Beautiful Scenes from Europe, One in life time you must go there

Sterlite Technologies gets Rs 114 cr order from BSNL

Sterlite Technologies has received a Rs 114 crore contract from BSNL for establishment of a broadband network in the state-run company's telecom circles.The company will install and commission the system by the end of FY'13 and will manage this network for seven years thereafter.The system would be capable of handling about 1.6 million broadband connections.This contract, valued at about Rs 114 crore.

Bank of New York Mellon ups stake to 14.07% in Rolta vs 12%

Bank of New York Mellon ups stake to 14.07% in Rolta vs 12% in June. Promoter ups stake by 1% to 42.9% around Rs 110/sh last month

Kirloskar Oil Engines bags an order of Rs 396 crore from Nuclear Power Corp of India

Kirloskar Oil Engines bags an order of Rs 396 crore from Nuclear Power Corp of India

Reliance Power 2,400 MW gas based Samalkot power project is on fast track

Reliance Power 2,400 MW gas based Samalkot power project is on fast track with all six turbines from US based GE arriving in India. By December 2011 the first set of two turbines are expected to be commissioned and the balance two sets of two turbines within the next two months.Till time the turbines are integrated into a closed cycle, the first set would produce about 500 MW. All turbines would be synchronized into the closed cycle to generate 2,400 MW by December 2012.

Food inflation fell to 8.84% in the week ended September 10 from 9.47%

Food inflation fell to 8.84% in the week ended September 10 from 9.47% in the previous week.As per Wholesale Price Index data released by the government today.Prices of most commodities, barring wheat, continued to remain firm on an annual basis.
Wheat prices during the week were down 2.72% YoY
Onions became more expensive by 29% and potatoes 13.78%. Overall Vegetables became 12.13% dearer.
Milk prices were up by 10.38%, while fruits grew dearer by 17.67% and eggs, meat and fish prices rose by 9.28% YoY
Prices of cereals also went up, by 4.13%. Even the prices of pulses, which had exhibited a declining trend during recent months, rose by 1.49% during the week ended September 10.
Non-food articles, which include fibres, oil seeds and minerals, recorded 17.42% inflation during the week ended September 10, up from 18.49% in the previous week, ended September 3.
Meanwhile, inflation in the fuel and power segment went up to 13.96% during the week ended September 10 from 13.01% in the previous seven-day period.

DQ Entertainment has signed a licensing and distribution deal with SMC Entertainment for the Jungle Book

DQ Entertainment has signed a licensing and distribution deal with SMC Entertainment division of Sun-Mate Corporation, USA for the Jungle Book, Season One. Under the agreement SMC has the television, home video and licensing and merchandising rights for an initial 5 year term in North America

ITC has increased some cigarette prices by up to 10%.

ITC has increased some cigarette prices by up to 10%.
 It has increased Classic price to Rs 110 per pack versus Rs 100
Wills to Rs 44 per pack versus Rs 40

All markets Tumbled by More then 3% Why??????????????

This All Happen due to that Statement By Fed, The Fed said, "there are significant downside risks to the economic outlook, including strains in global financial markets."Fed Wednesday said it would replace USD 400 billion of the shorter duration Treasury securities it holds with the same amount of 6- to 30-year Treasurys. It  also said that it would buy mortgage securities with the runoff from maturing mortgages in its portfolio. But it also talked about a slow recovery, slow improvement in unemployment and new risks from Europe. Traders concerned that the Fed's efforts will not result in much improvement to the economy.
The Fed action Wednesday also came a day after Republican leaders in Congress sent a letter to Fed Chairman Ben Bernanke asking him to refrain from further stimulus.The unusual act ruffled some in the markets who took it as an assault on the Fed's independence.

Mercator Lines has acquired 50% stakein Indonesia`s Kalimanthan province

Mercator Lines has acquired 50% stake for about USD 30 million (Rs 1.45 billion) in a coal mine in Indonesia`s Kalimanthan province which has reserves of 60 million ton. India`s second-largest private sector shipping company Mercator Lines also said it planned to list its coal division in London in one year. The company is looking at a production of 3 million ton coal in a year which it will sell.

Reliance Capital is now looking to sell 26% stake in Reliance General Insurance Company

 Reliance Capital is  looking to sell 26% stake in Reliance General Insurane Company. Reliance Capital the financial service arm of the ADAG Group has already started the due diligence process and is expected to complete this by the end of this financial year. Sources familiar with the developments say Reliance Capital is looking at a valuation close to what Nippon Life had given for taking 26% stake in Reliance Life.

GVK in talks with Kideco for stake sale in Coal Mines

GVK Group in talks with Kideco for stake sale in Coal Mines they recently closed a deal to acquire coal mines and associated infrastructure from Georgina Hope Rinehart’s Hancock Group for $1.26 billion and is now in the process of raising funds for this.the group announced its acquisition, from Hancock, of a 79% stake in Tad’s corner and Paul’s corner, and a complete acquisition of Kevin’s corner mines located in the Galilee basin in Queensland. GVK was looking to raise around $1 billion to fund the deal by selling a part of its stake in its Singapore-based co. GVK Coal Developers.

Bad News for Dish TV, Tamilnadu Govt. imposes entertainment on DTH

The Tamil Nadu government imposed 30% entertainment tax (e-tax) on direct to home (DTH) operators. Dish TV revenues are impacted almost 7% because of the entertainment tax across the country. Dish TV's last quarter EBITDA was in the range of 24-26%.

GAIL Will likely to get Subsidy Burden of 2500-2600 Crore

Yesterday on news that there could be rethinking on the one-third subsidy sharing formula that the government has been working with there was a bit of cloud on oil marketing companies.The company's subsidy burden is expected to be around Rs 2,500-2,600 crore.The EGOM will discuss about LPG subsidy and there will be some reductions on Subsidy burden. In case they are fixing four, six or eight cylinders per year, whatever is fixed has to be given on APM price and has to be based on the market price. In case it is reduced then the LPG subsidy will be reduced and contributions from it will be reduced to some extent.

PTC India To Buy Stake Into Asian Genco

PTC India Financial Services will buy a stake the in Singapore-based energy firm East Coast Energy which is part of Asian Genco. PFS has about 13.87% equity stake in East Coast Energy and invested about Rs 133 crore in the company. The valuation and related factors of the deal is expected to be finalised in the next 2-3 months

Voltas To Buy Wipro's Water Treatment Business

Voltas Ltd a Tata group co. is in advanced discussions to acquire soaps-to-software major Wipro's water purification and treatment business.  Wipro attempted selling other smaller businesses like baby diapers and vanaspati oil in recent past ,The sale of the water business could be Wipro's first divestment.

TPG, Shriram May Split Vishal Retail Partnership

Vishal Retail have soured relations between joint owners TPG Capital and the Shriram Group over infusing fresh capital into Vishal Retails to such an extent that the two have started discussing a split and division of assets. The Split comes barely six months after the two jointly acquired the debt-laden discount store chain. Shriram has expressed its inability to bring in more money, which has led to both companies exploring an split.

Dubai-based GEMS Education Buys 12% Stake in Everonn Education

Dubai-based GEMS Education Buys 12% Stake in Everonn Education via a preferential allotment of shares. Each share will cost GEMS 528, an over 40% premium to Tuesday's closing price. GEMS belongs to the Varkey Group, founded by Padmashri Award recipient and Dubai-based NRI entrepreneur Sunny Varkey.Varkey had been picking up Everonn stake in the open market, he had picked up a 1.32% stake for about Rs 17 crore Last week.

CBI May file Case Against Reliance Industries

CBI May file Case Against Reliance Industries over its operations of its gas block in the Krishna Godavari basin. Earlier this month during investigations agianst Reliance Industries no evidence found that suggest that costs in development of the country's key natural gas field in the KG basin were overstated.The offshore KG basin was expected to contribute up to one-quarter the gas supply for India, but lower-than-expected output has left dependent on expensive, imported LNG to fuel power and fertiliser plants.
 

Actual Price of petrol,Govt. eating our pocket by taking the Name of Rise in Crude prices,

Actua price of Petrol is very low if sold without taxes .Here is the breakdown of the taxes charged by the government in various forms. From the time it is refined to the time it reaches the consumers.

1. Excise duty  : 14.35 rupees per liter 
2. Customs duty : 7.5 percent
3. Sales tax or VAT  : 20 percent.

The total taxes amount to 45 percent of the final cost of the petrol.
If a barrel of crude oil in International market is $140 and if the petrol prices were left to the market fluctuations then the cost of petrol in retail market would be 70 rupees per liter. Now crude oil in International market $110 which is way below $140 mark now petrol rate in Delhi is 66 Rs. but actul rate should be 45% less then actual be. Then why not govt. is reducing taxes instead of hiking prices.

DQ Entertainment to announce two licensing deals

DQ Entertainment (International) Animation content provider going to announce two multi-million dollar licensing deals with overseas firms in the areas of broadcasting, merchandising and publishing in October.They are going to annouce deals at the Cannes film festival in the first week of October. One deal will be in the U.S and second deal in Europe but with a partnership in Canada. DQ Entertainment which has a deal pipeline of USD 112 million in the areas of production, distribution, licensing executable over two and a half years, will add USD 22 million of fresh deals in the next one-two months.

Lenders admit GTL to corporate debt restructuring

Lenders admit GTL to corporate debt restructuring (CDR),SBI Caps proposes restructuring of GTL loans
for over 8 years.Total loans under CDR around Rs 6,000 crore Interest rate on loans to GTL to reduced to 10.8% from 13.5%.

IVRCL under CBI Scanner

IVRCL Alleged for irregularities found in Tsunami housing project in Puducherry CBI alleges loss of Rs 35 crore to Puducherry & Central Govt

Reliance Communications Ltd's to sell Tower business to Blackstone and Carlyle Group

Blackstone and Carlyle Group have jointly expressed interest to bid for Reliance Communications Ltd's tower business.Bid offer valuing the enterprise at about $4 billion.Reliance Communications has put Reliance Infratel on the block looking at a valuation of around $5 billion which owns at least 50,000 towers,  RCom is open to selling its entire 95% stake in its tower arm. RCOM has to pay off debts estimated to be around Rs 32,000 crore, or about $7 billion.

GVK Power and Infrastructure will pay $1.26 billion for Australia 's Hancock Group

GVK Power and Infrastructure announced it would pay $1.26 billion for a majority stake in three coal mines, a port and rail project owned by Australia 's Hancock Group Co. will get 20 million tonnes of coal every year for long term. GVK will pay the amount  in a phased manner to the Hancock Group, with $500 million upfront.About $200 million will be paid in one year from closing the deal and another $560 million on financial closure of the project, which is expected next year.

Alfa Laval India has plans to Delist it

Alfa Laval India hits 52Week High on delisting buzz as board meeting today to consider delisting of its shares from the Bombay Stock Exchange and the National Stock Exchange. Sweden-based parent Alfa Laval Corporate AB, which holds 16,120,281 shares or 88.77% stake in Alfa Laval, has proposed a voluntary delisting of the shares of Alfa Laval  from the stock exchanges.

Fortis Healthcare to buy Fortis International

Fortis Healthcare board approved to buy Fortis International Pte Ltd, a Singapore-based leading integrated healthcare delivery company, in an all-cash deal. In a meeting held today, the BoD of Fortis Healthcare India approved the acquisition of Fortis Healthcare International from RHC Financial Services Ltd.

Cummins India Approves 2:5 Bonus

Cummins India shareholders have approved bonus issue in the ratio of 2 for every 5 shares held

Jet Airways hikes fuel surcharge by Rs 200

Jet Airways has decided to increase its fuel surcharge by 200 per domestic sector With the recent hike in ATF prices, . This will be applicable on all flights of Jet Airways, Jet Airways Konnect and JetLite, for sale and travel effective from September 17, 2011. ATF was hiked by 2.5% in line with international oil rates on Thursday night. The oil companies had earlier reduced the ATF by more than 1,586 per kilolitre in New Delhi but the recent hike had wiped out the reductions made earlier.Other airlines are yet to decide on a possible surcharge hike.

SRF gets Cardbon Credits of 305 cr.

The company has got carbon credits worth Rs 305 crore, reports CNBC-TV18.

Reliance Industries Gas output falls by 10%

Reliance Industries Gas output falls by 10%, this decline results into stopping of gas tn many consumers and with the result they are shifting towards imported Liquefied Natural Gas which is 3 times costly then Reliance gas, Gas o/p has fallen to 44 mmscmd which is below 10% from April-June quarter.uefied Natural Gas which is 3 times costly then Reliance gas, Gas o/p has fallen to 44 mmscmd which is below 10% from April-June quarter.

World is on the brink of another Recession

World is on the brink of another Recession as Europe economy is under crisis and US economy is under lot of debt and they are facing stiff task to overcome that deep crisis, in US Jobs are getting reduced day by day. US President has given 447 billion dollars bailout of more jobs.India is also facing that heat of global economy slowdown. Inflation is no way of getting lower RBI Has increased 12 times repo rate in 18 months but inflation is not reducing at all with the result that IIP Data comes at 2 year low of 3.3%. Also India is griped with lot of corruption and scams in everyfield such as Mining, Telecom, Gas (RIL), Finance (LIC), commonwealth And you may still do not how many scams are waiting to come. So India economy may feel heat of everything, but as fundamentals are strong so India economy will grow at 8% after 2 or 3 quarters so keep investing in market for long term view in strong fundamentals stocks as Europe economy is under crisis and US economy is under lot of debt and they are facing stiff task to overcome that deep crisis, in US Jobs are getting reduced day by day. US President has given 447 billion dollars bailout of more jobs.India is also facing that heat of global economy slowdown. Inflation is no way of getting lower RBI Has increased 12 times repo rate in 18 months but inflation is not reducing at all with the result that IIP Data comes at 2 year low of 3.3%. Also India is griped with lot of corruption and scams in everyfield such as Mining, Telecom, Gas (RIL), Finance (LIC), commonwealth And you may still do not how many scams are waiting to come. So India economy may feel heat of everything, but as fundamentals are strong so India economy will grow at 8% after 2 or 3 quarters so keep investing in market for long term view in strong fundamentals stocks

RBI hiked Repo rate by 25 basis Points to curb inflation

The Reserve Bank of India hiked repo ,rate at which it lend to banks, by 25 basis points, taking it to 8.25% and adjusted the reverse repo,rate at which it borrows from banks,to 7.25%.This is the 12th time that the RBI has raised key rates in the last 18 months—an effective increase of 500bps from a low of 3.25%  in March 2010 to the current repo rate of 8.25%.

EGoM Deferred plan of Subsidy on LPG Cylinders

EGoM Deferred plan of Subsidy on LPG Cylinders after apparent objections from some UPA constituents.
The meet was to consider limiting the supply of subsidised LPG cylinders to 4-6 per household in a year to cut down the government''s subsidy outgo by over Rs 12,000 crore.However, the move was opposed by key UPA allies, the DMK and TMC.Both the petroleum and finance ministries were keen on the proposal, as it would have plugged the diversion of subsidised LPG for commercial use and cut down the government''s subsidy outgo.

Tree House Education results

Tree House Education reported net profit of Rs 5.2 crore and total income of Rs 16.2 6 crore for quarter ended June 2011

Tata Motors Sales No.s

Tata Motors August Sales no.s are rose 3% from a year earlier to 87,459 units.  During the month Its U.K.-based luxury car unit, Jaguar Land Rover, jumped 31% to 21,242 vehicles.Sales of Land Rover sport-utility vehicles surged 43% to 17,833 units, but Jaguar sedan sales fell 10% to 3,409 autos. Global sales of all trucks and buses rose 17% to 48,023 units, the company said.

ONGC FPO Put on Hold again

Govt gain Put ONGC FPO on hold for undisclosed time. They says that govt. is no hurry to launch FPO in hurry in such a Volatile Market. Gopalan is also confident of meeting FY12 divestment target of Rs 40,000 crore. Govt. wants to raise about 9 billion dollers by Share sell.This is aiming at effort to plugging fiscal gap and generating funds for schemes for the poor.ONGC's share sale, first scheduled for March, has been postponed several times this year due to turmoil in global markets and lingering concerns over government fuel subsidies, part of which are borne by ONGC

NMDC to bid for 50% Stake in Australia's Legacy Iron Ore

NMDC to bid for 50% Stake in Australia's Legacy Iron Ore which will be its overseas acquisition which will around 200 Crore. The stake sale would enable the Australian miner to unlock and monetise the value inherent at its Mt Bevan iron ore mines and gain a large cash infusion.Legacy Iron Ore holds Iron ores  in central Yilgarn and Pilbara areas of Western Australia.

August Inflation at 9.78%

India's wholesale price index ( WPI) rose 9.78% in August on year-on-year basis. Which means that there is higher probability for another rate hike on 16th August RBI meeting even as economic growth slows and global outlook weakens. As RBI wants inflation to be between 6.5-7%.

IIP Data at 2 years low

Index of Industrial Production (IIP) for the month of July came in at 3.3% as against 8.8% in previous month, way below the street expectations. The IIP data stated that the capital goods industry grew only 15.2%  in July against 37.7% in the previous month. Is RBI Still going to hike repo rate? everyone is waiting fingers crossed , Most of broker houses are stating that RBI donot hike repo rate as IIP Data is not acceptable at all

DLF has decided to sell its 17.5 acres biggest land deals in the country

DLF has decided to sell its 17.5 acres NTC Mill land in central Mumbai which bankers estimate would fetch between Rs 3000 crore and Rs 4000 crore that will make it one of the biggest land deals in the country

Cipla and Unichem Paediatric drugs nimesulide and phenylpropanolamine will soon be avialable at Chemists

Court order revoked a ban on manufacture and sale of Paediatric drugs nimesulide and phenylpropanolamine due to controversial formulations  will soon be available with chemists.The ban was challenged by writ petitions filed by drug makers Cipla and Unichem.

KS Oil is going to selling off its all key businesses

KS Oil is going to selling off its all key businesses including wind power. Goldman Sachs Investments Mauritius I Ltd bought 2,146,201 shares of KS Oil at Rs 10.92 on the NSE

Juergen Stark's departure from the ECB's Executive Board in despair at the policy of buying government bonds to prevent the crisis spreading comes as policymakers in Berlin and beyond are preparing for the growing possibility of a Greek default.

Juergen Stark has given Resignation from the European Central Bank’s executive board as he opposed to the ECB purchasing bonds from debt-laden countries.The ECB is the one institution that has kept the euro zone afloat in the sovereign debt crisis and prevented a bond market meltdown. Juergen Stark's departure from the ECB's Executive Board in despair at the policy of buying government bonds to prevent the crisis spreading comes as policymakers in Berlin and are preparing for the growing possibility of a Greek default.

Tata Motors Chief Executive Officer Carl-Peter Forster has resigned

Tata Motors Chief Executive Officer Carl-Peter Forster has resigned  only 18 months after joining the company.Forster quit due to unavoidable personal circumstances, but will remain a non-executive member of the Tata Motors board. Forster joined Tata after heading General Motors in Europe on February 2010 , with his focus firmly on turning around the loss-making Jaguar-Land Rover unit, which Tata bought from Ford Motor Co in 2008. Forster succeeded in turning around the luxury unit, but sales of the Nano have been disappointing.

Rupa & Co. lists today at BSE

Rupa & Company began trading on the Bombay Stock Exchange today in the list of 'T' group Securities. The stock started trading at Rs 200 and went on to hit an intra-day high of Rs 300.
The stock, which was already trading in CSE (Calcutta Stock Exchange and JSE ( Jaipur Stock Exchange), made its debut on BSE on Friday.

Delta Corp to sell offshore casinos in Goa

Delta Corp to sell offshore casinos in Goa, is in talks with the Las Vegas-based MGM Resorts International and Caesars Entertainment, to sell a stake. Caesars and MGM are among more than two international casino owners, which have evinced interest in tying up with Delta. They are currently studying foreign investment, technical collaboration and licensing norms

Bharti Airtel wins 2G & 3G licences in Rwanda

Bharti Airtel wins 2G & 3G licences in Rwanda. Company will invest USD 100 million over next 3 years in Rwanda

Govt okays open licence export of non-basmati rice

Govt okays open licence export of non-basmati rice.Govt okays 2 mt wheat export

Aurobindo Pharma is in JV with Russia`s Diod to make, market generic drugs

Aurobindo Pharma is in JV with Russia`s Diod to make, market generic drugs

Land acquistion bill will be represented in Parliament today.

Land acquistion bill will be represented in Parliament today.The rehabilitation and resettlement (R&R) provisions will be applicable to the entire project area, only 5% of irrigated, multi-crop land can be acquired and highways have been excluded from the purview of the bill.The current parliamentary session ends on Friday and the bill is unlikely to be passed before parliament this year.

Company is in talks with several PE cos to sell its 25% stake, to retire debt in wholly owned co Renuka Brasil holdings

Company is in talks with several PE cos to sell its 25% stake, to retire debt in wholly owned co Renuka Brasil holdings

Citigroup Inc Former vice president found guilty for embezzling more than USD 22 million

Citigroup Inc Former vice president found guilty for embezzling more than USD 22 million from the company and transferring money to his personal bank account. Gary Foster pleaded guilty to bank fraud, admitting that he took the money between 2003 and 2010 . He appeared in US district court in Brooklyn before Judge Eric Vitaliano.

Mahindra & Mahindra raised prices by up to 2%

Mahindra & Mahindra raised prices by up to 2% for its entire range of products in August to offset the impact of high raw material rates.Mahindra & Mahindra on Monday said it raised prices by up to 2%for its entire range of products in August to offset the impact of high raw material rates.The company sells utility vehicles like ‘Scorpio´ and ‘Bolero´ along with three-wheeler commercial vehicles. It also manufactures and sells sedan ‘Verito

Amar Singh and 3 others sent to jail for Cash for Votes Scam

 Amar Singh Rajya Sabha MP and former Samajwadi Party leader has been sent to 13-day judicial custody in the cash-for-votes scam. Amar Singh and three other accused - Faggan Singh Kulaste, Mahavir Singh Bhagora and Ashok Argal - will remain in jail till September 19.

ONGC FPO Open on Sept 20 for 42.8 Crore Shares

ONGC FPO Open on Sept 20,Government will offer 42.8 crore shares through this FPO, which will close on September 23. A total of 8.5 crore shares are reserved for employees of the company.If we consider FPO price at Rs 250 a share, the issue size comes to Rs 10,700 crore

BP Confident of increasing Gas Production from KG D6

Country head of BP said he was confident of increasing gas production from KG D6 in about 2 Years. BP took 30% stake in RIL's 21 oil and gas blocks.
In July, India's cabinet had approved Reliance's plan to sell 30 percent stake in 21 oil and gas blocks to BP as part of a $7.2 billion deal , making it one of the largest investments in India's oil and gas sector.In May, the director general of hydrocarbons said the company was producing 48 mscmd (million standard cubic metres per day of gas) from the block, lower than 60 mscmd it produced last year and far off the planned peak capacity of 80 mscmd.

NCC bags order worth Rs 630 cr

NCC bags order worth Rs 630 cr. Order book now stands at Rs 17,000 cr with new orders

Suven Life Sciences has received four product patents in Australia and New Zealand

Suven Life Sciences  has received four product patents in Australia and New Zealand for its new chemical entities (NCEs), which could be used for treating various central nervous disorders.
which has an estimated $30 billion market potential globally

DoT Seeks Rs 6,830 crore for ITI Revival

Indian Telephone Industries gear making co. which govt. failed to sell so many times, the telecom department has now sought Rs 6,830 crore from the finance ministry to turnaround the public sector company.Over the last couple of years, the Centre has already shelled grants to the tune of over Rs 4,000 crore to clean up the company's balance sheet.

Onmobile board approves buy back at Rs 85/sh

Onmobile board approves buy back at  Rs 85/sh

 Feb 2008 it's IPO was priced at Rs 440.In March 2011 it approves 1:1 bonus making the stock more liquid. The current price should probably be seen in comparison with Rs 220 not Rs 440.

The share 52 week high on the BSE was Rs 200, on 6th October 2010, and its 52 week low was Rs 54.10 as recently as 19th August 2011

Everonn Education Business is in Clouds now

Everonn MD’s arrest means education business is in clouds now. There was buzz that Nikhil Gandhi is taking over as Chairman as JJ Irani steps down.Company appointed Director Susha John as CEO on Friday after P Kishore was arrested last week.
Kishore was arrested for allegedly giving Rs 50 lakh as bribe to Additional Income Tax Commissioner Andasu Ravindar to conceal Rs 60 crore of taxable income out of Rs 116 crore detected by CBI officials recently

Sun Pharma gets US FDA nod to sell cetirizine tablets as OTC

Sun Pharma gets US FDA nod to sell cetirizine tablets as OTC

Market reaches 5000 again,what to do know?

Market closed above 5000 is this indicates uptrend? Ans. Is No this doesn't reflects that market fundamentals are strong as this pull back is only due Federal reserve actions to save U.S. from going into recession, but Recession is very much due in U.S. so this rally could not last long it may go down to 4400 levels very soon, So keep buying good stocks at all levels for long term prospect. Indian Market will blounce back everytime with global cues but this doesn't shows amrket fundamentals

Reliance to buy 74% Stake in Nippon

Reliance Capital annouced partnership with Japanese insurance major Nippon Life . Reliance Capital is gazing this tie-up from a distribution and asset management perspective.Post the deal Rel Cap can hold 76% stake within the company and 26% are going to be controlled by Nippon underneath strategic agreements, Ghosh confirmed.

TVS Motors sales no.s

TVS Motors August total sales were up by 16% at 3.83 lakh units, YoY. Its exports were up by 40% at 1.38 lakh units, YoY. Its motorcycle sales were up by 17% at 3.38 lakh units, YoY,

Bajaj Auto Sales no.s

Bajaj Auto August total sales were up by 16% at 3.83 lakh units, YoY. Its exports were up by 40% at 1.38 lakh units, YoY. Its motorcycle sales were up by 17% at 3.38 lakh units, YoY,

CBI arrested Everonn Education's MD

CBI arrested Everonn Education's MD P Kishore and addtl commissioner of Income Tax in Chennai, Andasu Ravindar on Mon in bribery case