Archive for July 15th, 2008
Posted by naatmad on Tuesday, 15 July, 2008
By Malvika Raghvanshi,
Nifty index movement is based on the movement of 50 scripts. These scripts are calculated on the bases of Free-float Market Capitalization methodology. It is calculate on the basis of 50 index stock at any time free float market value of stock. The market capitalization of a company is determined by multiplying the price of its stock by the number of shares issued by the company. This market capitalization is further multiplied by the free-float factor to determine the free-float market capitalization. Read the rest of this entry »
Posted in Article | Tagged: Calculation, Nifty | Leave a Comment »
Posted by naatmad on Tuesday, 15 July, 2008
MUMBAI, July 15 MTN has sounded out India’s Bharti Airtel for reviving merger talks if it fails to agree a deal with Reliance Communications , the Economic Times reported on Tuesday.
Citing a source linked with the discussions, the newspaper said the South African telecom firm had “sent feelers” to Bharti, India’s No. 1 mobile operator, but a formal approach was unlikely until after a deadline for exclusive talks with Reliance ends on July 21.
Read the rest of this entry »
Posted in Corporate News | Tagged: Bharti, MTN | Leave a Comment »
Posted by naatmad on Tuesday, 15 July, 2008
BRUSSELS (Thomson Financial) – Financial services company KBC Group NV. said its asset management unit and Union Bank of India (UBI) have agreed to form a joint venture asset management company in India.
The companies signed a ‘memorandum of understanding’ to form the venture, in which they will take stakes of 49 percent and 51 percent, respectively. No financial details weredisclosed.
Source CNBC
Posted in Corporate News | Tagged: KBS, Union Bank of India, venture | Leave a Comment »
Posted by naatmad on Tuesday, 15 July, 2008
MUMBAI (Thomson Financial) – India’s state-owned Hindustan Petroleum Corp Ltd. (HPCL), said it signed a memorandum of understanding with Chhattisgarh state government and Chhattisgarh Renewable Energy Development Agency (CREDA) to form a joint venture company to undertake plantation of biodiesel crop Jatropha over about 15,000 hectares of land in the central Indian state.
Read the rest of this entry »
Posted in Corporate News | Tagged: Chhattisgarh, Hindustan Petroleum, venture | Leave a Comment »
Posted by naatmad on Tuesday, 15 July, 2008
MUMBAI (Thomson Financial) – India-based Sun Pharmaceutical Industries Ltd. unit Alkaloida Chemical Company Exclusive Group Ltd. has extended an offer to buy shares in U.S.-listed generic drug maker Taro Pharmaceutical Industries Ltd.to 5 p.m. New York time, Sept. 2, 2008.
Sun Pharma said the extension of the tender offer was recommended by the Tel-Aviv District Court to allow the court to rule on the merits of the litigation commenced by Taro. The offer had previously been scheduled to expire on July 28. Read the rest of this entry »
Posted in Corporate News | Tagged: Sun Pharma, Taro Pharma | Leave a Comment »
Posted by naatmad on Tuesday, 15 July, 2008
NEW DELHI – U.S.-based private equity company WL Ross & Co. LLC will invest $80 million in the Indian airline SpiceJet Ltd., one of the leading carriers in the country’s competitive low-cost field, the U.S. company said Tuesday.
India’s airline industry has grown dramatically in recent years as rising incomes and loosened regulations put air travel within the reach of millions of new customers. But rising fuel prices have caused most airlines to cut back on flights and increase ticket prices, slowing customer demand. Read the rest of this entry »
Posted in Corporate News | Tagged: Investment, Spicejet, WL Ross & Co. | Leave a Comment »
Posted by naatmad on Tuesday, 15 July, 2008
LONDON, July 14 – Russia-focused oil company Imperial Energy Corp Plc said on Monday it had received a bid approach from a party it did not name but which industry sources identified as Indian state-controlled ONGC .
Shares in Imperial Energy were up 22.8 percent at 947 pence at 0921 GMT, valuing the company at around 990 million pounds .
Read the rest of this entry »
Posted in Rumor | Tagged: Imperial Energy, ONGC | Leave a Comment »
Posted by naatmad on Tuesday, 15 July, 2008
FARNBOROUGH, England, July 14 – The founder of Kingfisher Airlines, beer and branding tycoon Vijay Mallya, said on Monday he had made an offer to buy Indian discount carrier SpiceJet Ltd but was rebuffed.
Shares in SpiceJet rose sharply recently after a report that unlisted Indian carrier Kingfisher Airlines was close to a deal to take it over.
Read the rest of this entry »
Posted in Corporate News | Tagged: bid, Kingfisher, Spicejet | Leave a Comment »
Posted by naatmad on Tuesday, 15 July, 2008
BANGALORE, July 15 – Indian shares fell 4.9 percent on Tuesday to their lowest close in 15 months, joining a world equities rout as investors dumped financials on concerns about the fallout from a worsening global credit turmoil. ICICI Bank , India’s No. 2 lender, was knocked down 8.7 percent to 529.30 rupees, its lowest close since July 2006, and mortgage lender Housing Development and Finance Corp dropped 6.9 percent to 1,800.30 rupees. Read the rest of this entry »
Posted in Market View | Leave a Comment »
Posted by naatmad on Tuesday, 15 July, 2008
MUMBAI, July 15 – Indian state-run trading firm MMTC Ltd has issued a tender for the export of 20,000 tonnes of manganese ore fines for shipment during August and September.
The seller has the option to supply up to 10 percent more or less than the quantity mentioned, the company said on its website (http://www.mmtclimited.com/tender/uploadeddocs/20080715132334FN .htm). The last date for submitting bids is July 18.
Source Reuters
Posted in Corporate News | Tagged: MMTC, tender | Leave a Comment »
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