Investing News - Page 28
CLSA downgrades Bharat Forge to underperform
CLSA has cited risk of a slowdown in revenue growth due to cyclical nature of commercial vehicle market in India, Europe and the US.
MFI Ujjivan to raise Rs 100 cr through private placement
The microfinance institution last week got approval from state-run Syndicate Bank for Rs 25 crore in funding this month.
Sahara case: SEBI wants to buy time from apex court
The dispute relates to a June 2011 SEBI order which had asked Sahara India Real Estate and Sahara Housing Investment Corporation to refund Rs 19,000 crore raised from an optionally fully convertible debenture (OFCD) issue with 15 percent interest, and restrained them from accessing capital markets for allegedly violating SEBI regulations.<br /><br /> <br /><br />
Maruti falters at Manesar, labour talks come unstuck
Three representatives of the workers have been detained as talks that started on Friday evening failed to yield any results.
CII urges Sebi to relax floor for HNI investment
Industry chamber CII asks market regulator Sebi to relax the proposed floor for HNI investment.
GVK Power pays $1.3 bn for stake in Australia's Hancock
The Indian infrastructure group will acquire a 79 percent stake in the Alpha and Alpha West coal mines in the Galilee Basin, and will buy Kevin's Corner coal mine and the rail and port project connecting the coal mines outright.
BlackBerry may switch off UK service during strife
Blackberry-owner Research in Motion said the company would comply with orders given in special circumstances such as threats of terrorism or mass criminality.
Suzuki calls off strike, Manesar plant standoff still on
Workers at three factories operated by two different subsidiaries of Suzuki Motor Corp in India called off their two-day strike this morning after an agreement was reached with the management of the companies.
Jubilant Life Sciences gets $70 mn manufacturing contract
Jubilant Life Sciences said on Wednesday its unit has signed a $70-million contract to manufacture an over-the-counter women's healthcare product for a US-based company.<br /><br /> <br /><br /> The product will be manufactured at its facility in Canada for a period of four years, it said in a statement.<br /><br /> <br /><br /> The contract can be extended for another two years for a higher quantity, it said.<br /><br /> <br /><br /> It did not name the US firm or give details of the product.<br /><br /> <br /><br /> "This contract is an outcome of our strategy to expand offerings across products and geographies. We are happy to extend services for an over-the-counter product with a leading customer in North America," Shyam Bhartia, chairman and managing director, Jubilant Life Sciences, said.<br /><br /> <br /><br /> This is the second large deal for Jubilant in the last one month after it signed a $33 million manufacturing contract with a US firm.<br /><br /> <br /><br />
StanChart, SBI in race for Barclay's Rs 200 cr cards biz: sources
Barclays has about 200,000 card holders in India and the book value of the business is roughly Rs 200 crore.
Bajaj Hindhustan sets rights issue price at Rs 36/share
The firm had said in April, its board has approved raising up to Rs 2,000 crore via rights issue of equity shares.
Defence Ministry nod for 10 pc disinvestment in HAL
The Defence Ministry has given approval for disinvestment of 10 per cent of its stake in the country's only aerospace company Hindustan Aeronautics Limited in the next five years.
For McGraw-Hill, division is on the cards
McGraw-Hill will split into McGraw-Hill Markets, which would include its Standard & Poor's ratings business, and McGraw-Hill Education, which will contain the textbook publishing and education units.<br /><br /> <br /><br />
Tata Motors down nearly 6 percent after CEO quits
The company's stock tanked 5.84 percent to touch an early low of Rs 143.80 on the BSE. The stock was the worst performer among the Sensex scrips at 1100 hrs.
Sensex, Nifty hit new record highs, banks lead rally
The NSE's bank sub-index has surged around 14 percent so far this month, outperforming the nearly 5 percent gain in the Nifty.