A dissident group of Yahoo Inc shareholders said on Sunday it had launched a campaign to sell their shares as a block, breaking ranks with Yahoo as it faces an unsolicited takeover bid from Microsoft Corp. Source: Zee News : Business | 11 Feb 2008 | 12:17 pm
Reliance Power, which last month made India`s largest-ever initial public offering of USD 3 billion, fell at its debut on the stock market on Monday, dropping more than 13% in turbulent opening trade. The utility, part of the Anil Dhirubhai Ambani Group, had sold out within a minute when it opened its record IPO in January and it priced the offer at Rs 450 a share, the top of the pricing band. Source: Zee News : Business | 11 Feb 2008 | 12:17 pm
India`s main stock index extended losses to more than 3% on Monday, led by index heavyweight Reliance Industries Ltd, weighed down by weaker Asian markets and a shaky debut by Reliance Power. Source: Zee News : Business | 11 Feb 2008 | 12:17 pm
NEW DELHI (Reuters) - Real estate developer Omaxe Ltd on Monday said it would begin construction of a residential project in the northern state of Punjab, worth 12 billion rupees.
(Reuters) - Indian shares provisionally closed down 4.94 percent on Monday, led by losses in top listed firm Reliance Industries, while Reliance Power fell as much as 21 percent on its debut.
BANGALORE (Reuters) - Indian shares dropped 4.78 percent on Monday to their lowest level in nearly three weeks, as investors fretted about the health of the global economy and a feeble debut by Reliance Power roiled sentiment.
MUMBAI (Reuters) - Shares in India's Reliance Power sank as much as 21 percent in a chaotic debut on Monday as valuation concerns and global market turmoil dented investor demand following its $3 billion IPO, the country's largest.
SBI said it will revise its benchmark prime lending rate, State Bank Advance Rate, by 25 basis points from 12.75 per cent per annum to 12.50 per cent per annum. Source: Daily News & Analysis: Money News | 11 Feb 2008 | 10:18 am
The Gujarat government has told a delegation of Japanese businessmen that the state was ready to locate Japanese industrial units in the state's segment of the $90-billion Delhi-Mumbai Industrial Corridor. Source: IndiaeNews.com: Business News | 11 Feb 2008 | 10:00 am
Dwarikesh Sugar Industries Ltd has started producing electricity from biomass at its plant in Fardipur in Bareilly district of Uttar Pradesh. The company will supply more than 24 MW of green power to Uttar Pradesh Power Corp Ltd (UPPCL). Source: IndiaeNews.com: Business News | 11 Feb 2008 | 10:00 am
HONG KONG (Reuters) - Indian developer DLF Ltd. is still working on listing a $1.5 billion property trust in Singapore and expects the IPO to be launched in the second quarter of this year, despite bruising market conditions.
Tanla Mobile Ltd, a subsidiary of Tanla Solutions, is launching a mobile marketing and advertising guide for Britain, offering guidance to agencies and brands on how to design, launch and manage mobile marketing campaigns. Source: IndiaeNews.com: Business News | 11 Feb 2008 | 9:30 am
Entertainment technology provider DQ Entertainment Ltd in association with Percept Picture Company will make three high quality animation films - two mythological movies and a Bollywood film - at a cost of $25 million, the companies said Monday. Source: IndiaeNews.com: Business News | 11 Feb 2008 | 9:30 am
MUMBAI (Reuters) - India's gold demand was low on Monday with prices holding near record and most jewellers selling items made from cheaper recycled gold that continues to fill markets, dealers said.
MUMBAI (Reuters) - State-run Bank of India has reduced its interest rates on retail loans by between 25 basis points and 250 basis points effective February 1, a senior official said on Monday.
MUMBAI (Reuters) - India's software and services export revenues are seen rising 28 percent to cross $40 billion in the year to March 2008, an industry body said on Monday.
A key market index shed more than 1,000 points in afternoon trade Monday, a loss of almost 5 percent, led by Reliance Industries and in line with weak global markets and a poor debut by Reliance Power. Source: IndiaeNews.com: Business News | 11 Feb 2008 | 9:01 am
The melting US economy and the appreciating rupee is in no way stopping the growth of the Indian IT industry poised to a 33 per cent growth in fiscal 2008. Source: Daily News & Analysis: Money News | 11 Feb 2008 | 9:01 am
India's biotechnology major Biocon Ltd has acquired 70 percent stake in German pharmaceutical company AxiCorp GmbH for approximately $43.66 million (Euro 30 million), paving the way for its entry into European markets. Source: IndiaeNews.com: Business News | 11 Feb 2008 | 9:00 am
The Asian Development Bank (ADB) has agreed to finance tourism projects in Himachal Pradesh worth Rs.4 billion if the state government comes up with concrete proposals, officials here said Monday. Source: IndiaeNews.com: Business News | 11 Feb 2008 | 9:00 am
BANGALORE (Reuters) - Top biotechnology firm, Biocon Ltd, has agreed to buy 70 percent of German marketing firm AxiCorp GmbH for 30 million euros ($43.7 million) to boost its business in overseas markets, Biocon said on Monday.
Bombay Stock Exchange (BSE) Chairman Shekhar Dutt on Monday said that it is a special day of listing of initial public offering (IPO) of Reliance Power. Source: Daily News & Analysis: Money News | 11 Feb 2008 | 8:22 am
The much hyped Reliance Power listed in the bourses Monday with a discount of Rs.20, at Rs.430 against its issue price of Rs.450. Source: IndiaeNews.com: Business News | 11 Feb 2008 | 8:03 am
Sterlite Technologies Ltd, a power conductors and optic fibre cable manufacturing major from Maharashtra, Monday said it has bagged a $17.5 million contract from the Ethiopian Electric Power Corporation (EEPCo) for manufacturing power transmission conductors. Source: IndiaeNews.com: Business News | 11 Feb 2008 | 8:02 am
Reliance Power Ltd (RPL), which last month made the largest ever initial public offer (IPO) in India, slid sharply by over 9 percent Monday afternoon despite listing at Rs.548 at the Bombay Stock Exchange (BSE), a premium of more than 20 percent over its offer price of Rs.450. Source: IndiaeNews.com: Business News | 11 Feb 2008 | 8:00 am
MUMBAI (Reuters) - India does not contribute to global imbalances and the country has an important stake in the normalisation of global financial markets, the head of India's central bank said on Monday.
The Bombay Stock Exchange benchmark Sensex crashed over 1,000 points at mid session on Monday on panic selling by funds. Source: Daily News & Analysis: Money News | 11 Feb 2008 | 5:34 am
Anil Ambani group's Reliance Power made its debut on the bourses, listing at a premium of over 20 per cent, but slipped below the issue price in early morning trade. Source: Daily News & Analysis: Money News | 11 Feb 2008 | 5:32 am
The Finance Ministry should carefully consider tax and credit relief to industries that may be affected by a potential US slowdown. Far better is it to have a Budget that makes India’s economy proof against potential US recession before it unfo lds fully than to regret the consequences after the event, argues S.VENKITARAMANAN. Source: Business Line - Home Page | 11 Feb 2008 | 12:00 am
We recommend a sell in Emkay Share & Stock Brokers from a short-term perspective. From the charts of Emkay Share & Stock Brokers, we see that the stock was on an uptrend from its March 2007 low of Rs 52 to its life high of Rs 400 (touched ... Source: Business Line - Home Page | 11 Feb 2008 | 12:00 am
New Delhi, Feb 10 Official statistical data being subjected to upward or downward revisions is considered an ‘acceptable’ practice, so long as it does not lead to any marked divergence between the original and final numbers. ... Source: Business Line - Home Page | 11 Feb 2008 | 12:00 am
Power and Infrastructure sectors contribute 30-35% to company revenues each. KEI sells 70% of its products to institutions including Suzlon, Gail , L&T, Power Grid. Source: Daily News & Analysis: Money News | 10 Feb 2008 | 11:22 pm
It's indeed a very close race between Reliance Communications (RComm), Vodafone Essar and Bharat Sanchar Nigam Ltd (BSNL) for the No 2 slot, in terms of wireless subscriber base. Source: Daily News & Analysis: Money News | 10 Feb 2008 | 11:15 pm
There's a hope that Anil Ambani-promoted Reliance Power, the most-awaited listing of recent times, won't open like a bottle of soda only fizzle out. Source: Daily News & Analysis: Money News | 10 Feb 2008 | 10:59 pm
Though real estate as profession is as ancient as history, people across the financial value chain have given it an industry status only since the past two years. Source: Daily News & Analysis: Money News | 10 Feb 2008 | 10:59 pm
Recent IPOs have provided the much-needed liquidity to the real estate sector. Now, the government only needs to do away with redundant laws to boost further growth. Source: Daily News & Analysis: Money News | 10 Feb 2008 | 10:55 pm
