"Suzlon receives 31.5 MW order from Canada-based Sprott Power Corp.".
Tuesday 14 June 2011
Manappuram to raise 750 cr through NCD issue
Loan-against-gold firm Manappuram Finance plans to raise Rs 750 crore through its maiden retail non-convertible debenture issue to fund its growth plans. The issue may be launched in July with a tentative coupon size of 11-12%.
First Leasing dismisses 'speculative' rumours of stake sale
First Leasing has been buzzing around in the market on rumours of a stake sale. Buzz has it that the company is all set to sell 21% in First Leasing to companies like Temasek and Tata Chemicals. However, company chairman AC Muthiah says that news of such stake sale holds no ground and are merely ‘speculative rumours’.
Facebook worth of USD 100 billion
Facebook social-networking site that is one of the most closely-watched private companies in the world, is likely to go public by the first quarter of 2012, say people familiar with the matter, at a valuation that of USD 100 billion
Inflation comes to 9.06% instead of 8.66%
Inflation comes to 9.06% instead of 8.66% for the Month of May
Idea Reslts
Idea's profit rose nearly 3% to Rs 274.5 crore in fourth quarter FY 2011 from Rs 266.6 crore in last quarter of FY 2010
Deutsche Bank India results
Deutsche Bank India said net profit rose 41% last fiscal as its corporate and investment banking raised revenues by lending and advising on fund raising and takeovers. The German bank said net earnings for the year ended March 2011 was Rs 630 crore, up from Rs 446 crore a year earlier, a statement from the bank said. During the year, the parent invested
S&P Downgraded Greece
Greece became the lowest-rated country within the world per common place S&P's, that downgraded it on Monday and warned that any conceive to restructure the country's debt would be thought-about a default. Greece currently features a lower credit rating than countries like Pakistan and Ecuador , that has been shut out of international markets since a 2009 default worth of insuring Greek debt is currently nearly twice the maximum amount because the price of insuring Pakistani bonds.
S&P's move was the newest blow for Greece's Socialist government, that is scrambling to push an unpopular austerity package through parliament to make sure continued funding below a year-old bailout set up. Barely a year once Athens was granted a primary 110-billion-euro aid package, the ecu Union, the IMF and also the European Central Bank are acting on a second funding deal. Some European countries like Germany oppose giving extra money to Greece while not the help of personal creditors.
S&P said European policymakers looked increasingly possible to impose a restructuring of Greece's debt -- either via a bond swap or by extending bond maturities -- as a method of constructing the non-public holders of Greek bonds share the burden. "In our read, any such transactions would possible be on terms less favorable than the debt being refinanced, which we, in turn, would read as a de facto default per commonplace & Poor's printed criteria," the agency said. In such a case, S&P said, Greece's credit rating would be lowered to "selective default," or SD, whereas the ratings on the country's debt instruments would be cut to D. It cut Greece's long-term sovereign credit rating to CCC, four steps removed from default, from B.
The short-term rating was affirmed at C and every one ratings were faraway from credit watch. The move takes S&P's rating of Greece one notch below Moody's Caa1, whereas Fitch ranks Greece at B-plus. This makes Greece rock bottom country in S&P's rankings. S&P said the outlook on the long-term rating remained negative, a symptom that another downgrade is probably going within the next twelve to eighteen months.
S&P's move was the newest blow for Greece's Socialist government, that is scrambling to push an unpopular austerity package through parliament to make sure continued funding below a year-old bailout set up. Barely a year once Athens was granted a primary 110-billion-euro aid package, the ecu Union, the IMF and also the European Central Bank are acting on a second funding deal. Some European countries like Germany oppose giving extra money to Greece while not the help of personal creditors.
S&P said European policymakers looked increasingly possible to impose a restructuring of Greece's debt -- either via a bond swap or by extending bond maturities -- as a method of constructing the non-public holders of Greek bonds share the burden. "In our read, any such transactions would possible be on terms less favorable than the debt being refinanced, which we, in turn, would read as a de facto default per commonplace & Poor's printed criteria," the agency said. In such a case, S&P said, Greece's credit rating would be lowered to "selective default," or SD, whereas the ratings on the country's debt instruments would be cut to D. It cut Greece's long-term sovereign credit rating to CCC, four steps removed from default, from B.
The short-term rating was affirmed at C and every one ratings were faraway from credit watch. The move takes S&P's rating of Greece one notch below Moody's Caa1, whereas Fitch ranks Greece at B-plus. This makes Greece rock bottom country in S&P's rankings. S&P said the outlook on the long-term rating remained negative, a symptom that another downgrade is probably going within the next twelve to eighteen months.
Citigroup has decided to reduce its stake in Housing Development Finance Corp
Citigroup has decided to reduce its stake in India's top mortgage lender Housing Development Finance Corp to about 10 per cent from 11.4 per cent now via stock market deals
Himalaya International entered into a joint venture with the USbased JR Simplot
Shares of Delhi-based food processing company Himalaya International rose sharply on hopes of better prospects after the company entered into a joint venture with the USbased JR Simplot , which is a large player in agriculture and potato processing.
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