Local search engine Just Dial plans to raise Rs 360 crore through an initial share sale, probably valuing the company more than 10 times its last fiscal revenue. About 10.6 million shares will be sold by existing owners, said the document, without mentioning the specifics. In the year ended March 2011, Just Dial posted a net profit of Rs 29 crore on total revenue of Rs 189 crore, the offer document shows.
Thursday 18 August 2011
Hero MotoCorp appoints Sunil Kant Munjal as Joint MD
Hero MotoCorp Appoints Sunil Kant Munjal as Joint MD for a period of five years with effect from August 17, 2011.
Global Markets Slump before US data
World stock markets tumbled Thursday on lingering economic worries, with the heaviest losses in Europe amid the region's uncertain debt crisis, as investors awaited the release of key data from the United States.
Xpro India sold off company's Thermosets division at Ranjangaon
Xpro India sold off company's Thermosets division at Ranjangaon, engaged in the manufacture of Thermoset Moulding Powders & Synthetic Resins, for Rs 74.5 crore on a going concern and slump sale basis.
Anna Hazare will fast at Ramlila Maidan from tomorrow
Gandhian Anna Hazare will fast at Ramlila Maidan from tomorrow. Arvind Kejriwal, a civil society member said that Anna will leave Tihar only after taking stock of preparations.Team Anna members said that once Ramlila Maidan is ready, Anna will leave Tihar Jail.
Lakshmi Precision Screws Q1 results
Lakshmi Precision Screws reported net profit of Rs 2.18 crore for quarter ended June 2011 as against Rs 1.72 crore in the same quarter a year ago. Net sales were at Rs 79.12 crore as compared to Rs 67.52 crore.
Suven Life Sciences has been granted four product patents for new chemical entities
Suven Life Sciences has been granted four product patents for new chemical entities used for treatment of disorders associated with Neurodegenerative diseases
Dhanus Technologies has approved to issue bonus shares
Dhanus Technologies has approved to issue bonus shares in ratio of 12 equity shares for every 5 shares held.
Atul Europe has acquired 88% shares of U.K. based D.P.D
Atul Europe, a wholly owned subsidiary of Atul, has acquired 88% shares of U.K. based D.P.D. The acquired company is in the business of tissue culture date palm.
Centre for Monitoring Indian Economy (CMIE) has cut India's FY12 growth forecast to 8.1% from 8.6%
Centre for Monitoring Indian Economy (CMIE) has cut India's FY12 growth forecast to 8.1% from 8.6%.
CMIE said, delays in the commissioning of projects have made us less optimistic. “We are really concerned over the delays in the commissioning of projects,” he added.
CMIE said, delays in the commissioning of projects have made us less optimistic. “We are really concerned over the delays in the commissioning of projects,” he added.
World Health Organisation has delisted Panacea Biotec’s Vaccines
World Health Organisation has delisted Panacea Biotec’s DTP-based combination and monovalent hepatitis B vaccines from its list of pre-qualified vaccines
Food inflation falls to 9.03% for the week ended August 6 from 9.90% in the previous week.
Food inflation falls to 9.03% for the week ended August 6 from 9.90% in the previous week.
Suzlon gets 48.3 mw wind power order from Indian Oil
Suzlon gets 48.3 mw wind power order from Indian Oil. Suzlon had earlier built a 21 mw wind power project for Indian Oil in the Kutch district of Gujarat in 2009
Jet Airways plans to enhnace low fare cost segment
The airline plans to enhance its low cost offering to 90% from the current 70%. The company operates the full-service Jet Airways; a no-frills, all-economy-class service Jet Konnect, which shares planes and staff with the full-service airline; and a low-cost subsidiary Jet Lite (India) Ltd. Jet plans to merge the two under the Jet Airways Konnect brand in times to come
Manaksia to sell Solex Chemicals
Manaksia has entered into a share purchase agreement with Aura Chem for sale of 100 per cent stake in Solex Chemicals, a wholly owned subsidiary, for $1 .50 million.
Educomp solution income tax raid
Income tax department has raided 14 offices of Educomp solutions on alleged tax evasion, Stock plunged more then 12%
Nifty goes down below 5000
Nifty goes down below 5000 as inflation no.s not supporting the Market and unbearable for RBI so 50 Basis Points rate hike very sure so market will soon see 4900 mark and may be 4800 also possible as there is support coming for the market from any side
Axiata Tele to raise Stake in Idea Cellular
Malaysian based Axiata Tele is looking to raise its stake in Idea to 25% and is looking for nod from Indian promoter Aditya Birla
Gold hit record High of 26557
India's benchmark gold futures on the Multi Commodity Exchange extended the previous session's gains on Thursday morning and hit a new peak of Rs 26,557 per 10 grams, tailing a rally in the world market and on a weak rupee.
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