Investing News - Page 8
NIIT Tech drops 10 percent after block sale of shares
Shares of NIIT Technologies fell as much as 10.4 percent after the BSE showed 3.92 million shares, or 6.53 percent of the market capitalisation, changed hands at 267 rupees a share via block deals.
IOB Q1 net up 14% to Rs 233 crore
Indian Overseas Bank (IOB) reported 13.5 percent increase in net profit at Rs 233.43 crore for the first quarter ended 30 June, 2012.
IRB Infra surges 6% post strong Q1 earnings
Shares in IRB Infrastructure Developers surged 5.8 percent after the Indian construction firm beat estimates on Friday.
Oil marketing shares down as hopes of price hike recede
These companies declare profits on the basis of promises of debtors rather than the actual receipt of cash in the bank account.
MMTC to raise investment in JV with Swiss firm
MMTC is into trading of various commodities including gold, iron ore and pulses.
Sebi has 300 unsettled applications pending
Market-regulator Sebi has 300 applications pending with it that need to be settled with 'consent'.
Tata BP Solar becomes wholly-owned subsidiary of Tata Power
Tata Power made Tata BP Solar India its wholly-owned subsidiary after acquiring of 51 percent stake held by the joint venture partner BP.
Sensex to gain 10 percent by year-end: Poll
A poll of economists suggests that Sensex is set to gain ten percent by the end of the year aided by a slump in oil prices and foreign investment.
First year premium of life insurance firms up 1.4%
The gross premium of the non-life insurance companies rose 21.83 percent during April-May to Rs 4,880.81 crore from Rs 4,005.96 crore. <br /><br />
Rupee at 57: Gold recovers from 1-week low
Gold rose to 29,965 on Friday as the rupee took a lifetime hit to 57.30. This, after the government announced that the rains will be normal this year which will drive rural demand.
Brent below $90, on low demand from US, China
Brent hit below $90 which was its biggest weekly loss in about a year as US and China muddied the outlook for demand. In addition, the shrinking business activity from the eurozone added to the gloom.
Moody's to downgrade Tata Power on bank debt
Citing bank debt related to a power project, Moody's might downgrade Tata Power ratings. The rating action reflects material covenant breaches on bank debt associated with 4,000 MW Mundra UMPP.
Educomp surges 8% as co raises $155 mn
Shares of Educomp solutions, web-learning solutions provider surged as high as 8.4% after the company announced that it raised $155 mn via external borrowings.
IOC, HPCL gain following slump in crude prices
State-run oil firms including BPCL, HPCL and IOC gained following the 25.21 percent slump in crude prices.
Banks and realty stocks tank after rates remain unchanged
After shooting up on hopes of a rate cut, the rate-sensitive banks and realty stocks fell 3 percent after RBI's kept the rates unchanged.
Fame, Inox jump 5 percent ahead of merger
Inox Leisure which owns Inox multiplex and Fame is considering a merger of both the chains. The stock rose as much as 5 percent after the announcement.
Gold just above Rs 30,000 as demand slackens
Gold hovers around Rs 30,000 as demand in India remains sluggish due to lack of weddings and an off-festival season.
L&T gains as Mitsubishi eyes stake in co
Infrastructure major L&T gained as much as 2.60 percent on BSE after Japan's Mitsubishi Heavy Industries expressed interest in buying stake the in company.
Cairn Energy buys UK co Nautical Petroleum for $644 million
British oil firm Cairn Energy bought Nautical Petroleum for 414 million pounds. Buying Nautical will raise Cairn's exposure to the Catcher oil field, one of the biggest discoveries in Britain.
Now insurance for harvest too?
HDFC Ergo will pilot its weather-based crop insurance scheme in Maharashtra for Kharif crops this year. The scheme will offer insurance cover to the farmers against losses caused by aberrant weather conditions during the crop cycle.
Ad firm Komli Media gets Rs 217 cr funding for expansion
Media technology firm Komli Media raised $39 million from Norwest Partners along with Helion and Draper Fisher in its second round of funding.
Private banks gain on rate cut hopes: Sensex up 145 points
Shares of private banks such as ICICI Bank and HDFC Bank rose following the news of the Spanish banks bail out by eurozone finance ministers
QFI definition tweaked to include Gulf investors
A QFI is an individual, group or association resident in a foreign country. QFIs do not include FIIs/sub accounts.
Auto stocks winners on hopes of deferred diesel duty hike
Stocks of auto majors such as Tata Motors and Mahindra and Mahindra rose after lobbying against a government proposal to raise taxes on vehicles that run on heavily subsidised diesel.
Govt to sell 5.8% stake in SAIL via auction tomorrow
The issue through offer for sale route will be second disinvestment this month where the govt has truncated issue size fearing adverse market conditions may not help it realise original targets.
Bharti Airtel drops 2.5 percent ahead of 2G auction revisions
The stock of telecom major, Bharti Airtel fell to Rs 287 down 2.58 percent on BSE ahead of ministry's meeting of revision of prices for 2G airwaves auction.
Govt considering 10% stake sale in National Fertilisers
NFL had reported a net profit of Rs 126.73 crore in the last fiscal as against a net profit of Rs 138.50 crore in the 2010-11 fiscal.<br /><br />
Overseas direct investment by Indian firms at $2.35 bn in May
A total of 467 deals took place during the month by the Indian companies to carry out the outward foreign direct investment, the data showed.
Market unimpressed with HUL's upgrade, stock down 1%
HUL gets an upgrade from Macquarie from underperform to outperform and the brokerage also increased its target to Rs 600 stating that the company will benefit from the growth in emerging categories
RINL to start overseas roadshows for IPO from 21 June
The management of the state-run steel maker would visit six cities abroad - New York, Boston, Los Angeles, Hong Kong, Singapore and London for inviting investors.