MARKET NEWS
-
MARKET NEWS HIGHLIGHTS NOV 6th, 2009
Wipro’s subsidiary, Wipro Consumer Care & Lighting, has acquired the rights of premium brand Yardley across several regions for US$45.5mn. (ET) Axis Bank has cut first-year home loan rates to 8% and has also extended maturity of loans to 25 years. (ET) IOC has proposed to double its investment on R&D. (FE)
-
MARKET NEWS HIGHLIGHTS OCTOBER 30, 2009
Government has allowed Cairn to sell crude from its Rajasthan fields to private refiners in the face of state-run refiners’ inability to consume the entire output at their refineries. This will be the first time that crude oil from a domestic field will be sold to a private refiner. So far, all crude produced in the country was consumed by state refiners. Cairn also wants government to allow it to export to Southeast Asian
-
MARKET NEWS HIGHLIGHTS OCTOBER 28, 2009
Sun TV Network (Sun TV), owned by Kalanithi Maran, is looking at foreign partners to produce non-fiction contents. The company on October 27 joined hands with Dutch firm Endemol to launch a television game show.“This tie-up would be the first step towards more international joint ventures. The international partner will bring his production expertise and will work..
-
MARKET NEWS HIGHLIGHTS OCTOBER 27, 2009
RIL may for the first time get to use the gas from KG D6 block as EGoM considers allocation of KG basin gas to other sectors. (ET)
Satyam-Tech Mahindra merger likely after June 2010. (ET)
Maruti Suzuki has lunched a new variant of its premier car SX4. (ET)
-
MARKET NEWS HIGHLIGHTS OCTOBER 26, 2009
RIL partner Hardy Oil said it would abandon a well in the K-G basin that showed “poor” reservoir sands. (FE)
TCS, CMC to bid jointly for unique ID project worth Rs50bn. (ET)
The finance ministry has allowed SAIL to go for follow on public offer (FPO) to the tune of 20% of its paid up capital. (FE)
-
MARKET NEWS HIGHLIGHTS OCTOBER 23, 2009
Infosys co-founder and chairman, Narayana Murthy, sells company’s shares worth ~US$37mn to start a VC fund. (BL)
Tata Steel and MMTC forms a JV for acquisition, development and operation of mines and procession of minerals and metals. (ET)
-
MARKET NEWS HIGHLIGHTS OCTOBER 22, 2009
• China’s economy expanded at the fastest pace in a year as stimulus spending and record lending growth helped the nation lead the world out of recession. Gross domestic product grew 8.9 percent in the third quarter from a year earlier, the statistics bureau said in Beijing today. The median of 34 estimates in a Bloomberg News survey was for a 9 percent gain. Separate reports showed industrial production and retail sales advanced at a faster pace in September. (Source: Bloomberg)
-
MARKET NEWS HIGHLIGHTS OCTOBER 21, 2009
Government companies, state owned mining corporations and tariff based power projects including UMPPs may be kept out of the proposed competitive bidding process for captive coal blocks, thus allowing them to get coal at below market prices. (ET)
The Prime Ministers Economic Advisory Council expects industrial output to grow in double digits through the remainder of 2009-20. (FE)
New norms released as a measure to liberalise FDI flows in India had resulted in seven Indian banks being labeled as ‘foreign owned and Indian controlled’ thus severely restricting their existing downstream investments in sectors like insurance. (FE)
-
MARKET NEWS HIGHLIGHTS OCTOBER 20, 2009
• US retail sales fell 1.5% in September, the Commerce Department said, surprising economists who were expecting sales to fall 2.1%. Sales rose 2.7% in August thanks partly to the impact of the government’s Cash for Clunkers auto stimulus program. Sales excluding autos rose 0.5% in the month versus a rise of 1.1% in August. Sales were expected to rise 0.2%. (Source: CNNMoney)
-
MARKET NEWS HIGHLIGHTS OCTOBER 16, 2009
R Com is willing to make payment of license fee to DOT, if there are any legitimate dues found payable. (BL)
Wipro to hire more in US as tech market improves. (FE)
NDTV to buy back 26% stake in NDTV Networks Plc. (FE)
-
MARKET NEWS HIGHLIGHTS OCTOBER 15, 2009
■ DOW JONES CLOSED ABOVE 10,000
The Dow Jones Industrial Average ended higher by 144.8 points at 10,015.86. The Nasdaq Composite Index, ended higher by 32.34 points at 2,172.23. S&P 500 ended higher by 18.83 points at 1092.02
-
MARKET NEWS OCTOBER 14, 2009
China’s exports declined at the slowest pace in nine months, helping government efforts to sustain the recovery in the world’s third-biggest economy. Shipmentsdropped 15.2 percent in September from a year earlier, the customs bureau said on its Web site today. That compared with a 23.4 percent slide in August.
-
MARKET NEWS OCTOBER 13, 2009
The government on Monday notified its decision to double the amount of sugar purchased from millers for distribution through ration shops in the 2009-10 season to protect the poor against high sweetener prices which have threatened to touch Rs 40 a kg due to a slump in output.
-
MARKET NEWS HIGHLIGHTS OCTOBER 12, 2009
MRPL is likely to receive 0.2mn tonnes of crude oil from the Rajasthan fields of Cairn India and ONGC. (BL)
IVRCL Infrastructures & Projects has announced it has received orders worth Rs5.2bn. (BL)
UTV Software will raise Rs7.5bn through various channels. (FE)
Parsvnath Developers is looking to raise about Rs. 5bn this fiscal by selling equity at project [...] -
DAILY MARKET NEWS HIGHLIGHTS
L&T raises US$600mn through sale of shares and bonds to institutional investors for infrastructure play. Government has cleared SBI and State Bank of Indore merger. SAIL logs 14% sales growth in 2nd quarter.
-
DAILY MARKET NEWS HIGHLIGHTS
Nifty climbs above 5050; Sterlite, SAIL, BHEL up
Unitech, Hindustan Oil, can give a trading bounce today: Modern Shares
ONGC in talks to buy stake in Iran gas field
