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Moneylife Digital Team 10 June 2010
As suggested yesterday, the market rallied. We expect the market to hit 17,100 and possibly 17,300 in this stretch The market was up in the morning session, taking cues from its Asian counterparts. The Sensex shut at 16,922, up 264 points (1.6%) and the Nifty settled at 5,078, up 78 points...

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Possibility of major US hurricanes, hotter-than-normal US summer weather and robust core demand v/s supply will impact natural gas prices over the next six months Natural gas has seen some violent moves in the past few weeks. It rose by 30% in five weeks, but has declined by 5% in the last...

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Moneylife Digital Team 10 June 2010
HCL Technologies Ltd (HCL), a leading global IT services provider, has entered strategic partnership with Callatay & Wouters (C&W), a leading provider of innovative IT solutions and services to retail, private, and direct banks. The partnership will be focused on delivering C&W's proven...

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Moneylife Digital Team 10 June 2010
Tata Communications (Hong Kong) Ltd, a wholly-owned indirect subsidiary of Tata Communications Ltd and the shareholders of China Entercom Communications Ltd (CEC) have jointly withdrawn their equity joint venture application with the Chinese government. Both organisations have mutually agreed to...

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Moneylife Digital Team 10 June 2010
JSW Energy Ltd has entered a memorandum of understanding (MoU) with Osho Venture FZCO, Dubai (Osho) and Indian Ocean Mining (Pty) Ltd, South Africa with an intention to acquire 70% equity interest in Indian Ocean Mining from Osho. Indian Ocean Mining has certain coal prospecting rights in...

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Moneylife Digital Team 10 June 2010
Reliance Power Ltd has said that its wholly owned subsidiary, Reliance Coal Resources Ltd, has entered share purchase agreements to acquire the entire share capital of two coal companies in Indonesia. These two Indonesian companies own three coal mines in Indonesia. The coal from these mines...

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Sanket Dhanorkar 10 June 2010
The mandatory 25% public shareholding norm in listed companies has raised speculation over delisting and stake sales. Investors need to look at the bigger picture The Street is abuzz with speculation that foreign companies will choose to delist shares and that several Indian companies will sell...

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Moneylife Digital Team 10 June 2010
Hyderabad-based Nagarjuna Construction Company Ltd has secured orders aggregating to Rs791 crore. The company has secured two orders worth Rs309 crore from the Ministry of Health & Family Welfare, New Delhi for construction of a medical college and hostel at All India Institute of Medical...

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Moneylife Digital Team 10 June 2010
National Fertilizers Ltd (NFL) has appointed Rajesh Aggarwal as the director (technical) of the company. Before this, he was functioning as executive director, Rashtriya Chemicals & Fertilizers Ltd (RCF) at Thal unit in Alibag, Maharashtra. Mr Aggarwal has vast experience in operations of...

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Moneylife Digital Team 10 June 2010
Mumbai-based Larsen & Toubro's (L&T) Metallurgical, Material Handling & Water Operating Company, part of its construction division, has secured orders aggregating Rs747 crore from Coal India Ltd, Indiabulls Power Ltd and Hindalco Industries Ltd. In material handling sector, L&T has secured a...

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Moneylife Digital Team 10 June 2010
Gurgaon-based Ranbaxy Laboratories Ltd has launched a generic version of Prasugrel in India. The product called Prasita is an antiplatelet agent for prevention of atherothrombotic events in patients with acute coronary syndrome undergoing percutaneous coronary intervention. Prasita is solely...

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Moneylife Digital Team 10 June 2010
The Chennai-based generic pharma major, Orchid Chemicals & Pharmaceuticals Ltd has entered an agreement to acquire Karalex Pharma, a US-based generic marketing and sales service company, through an all-cash deal for an undisclosed amount. The transaction is expected to close by this month...

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The holy cows of our corporate world do not want the proposed minimum 25% public float norms to be enacted. Further, can the market absorb the additional shareholding, if the law is ever passed? In the 1990s, finance ministry mandarins proudly declared that they didn't understand capital...

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The holy cows of our corporate world do not want the proposed minimum 25% public float norms to be enacted. Further, can the market absorb the additional shareholding, if the law is ever passed? In the 1990s, finance ministry mandarins proudly declared that they didn't understand capital...

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Pallabika Ganguly 10 June 2010
The funds will be utilised to reduce debt IL&FS Milestone Fund has bought 74% stake in Hindustan Construction Co Ltd's (HCC) '247 Park' project for Rs575crore. The deal was signed on Wednesday. HCC has already received Rs121crore as token amount when signing the deal. The property is...

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Moneylife Digital Team 10 June 2010
Brokerage firm India Infoline has flashed the ‘Chinese wall’ concept to explain its contrasting calls on the same scrip on the same day. But is it credible? Moneylife had earlier reported on how India Infoline had come out with two different reports on Punj Lloyd Ltd exactly on the same day but...

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Moneylife Digital Team 10 June 2010
Brokerage firm India Infoline has flashed the ‘Chinese wall’ concept to explain its contrasting calls on the same scrip on the same day. But is it credible? Moneylife had earlier reported on how India Infoline had come out with two different reports on Punj Lloyd Ltd exactly on the same day but...

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Moneylife Digital Team 09 June 2010
As mentioned earlier, the market is making a laboured attempt to rally The market was volatile with trading being range bound. The Sensex ended at 16,657, higher by 41 points (0.2%) and the Nifty ended at 5,000, higher by 13 points (0.2%). The benchmarks were up in the early trading session....

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Moneylife Digital Team 09 June 2010
For the first time in many months, equity mutual funds have recorded net inflows After months of recording outflows, equity funds recorded net inflows to the tune of Rs1,256 crore in May 2010. In April 2010, equity redemption had reached Rs1,133 crore. In May 2010, income funds recorded...

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Moneylife Digital Team 09 June 2010
For the first time in many months, equity mutual funds have recorded net inflows After months of recording outflows, equity funds recorded net inflows to the tune of Rs1,256 crore in May 2010. In April 2010, equity redemption had reached Rs1,133 crore. In May 2010, income funds recorded...

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