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Moneylife Digital Team 15 October 2010
Infrastructure company Sadbhav Engineering Ltd said it won road projects worth Rs1,411.4 crore from the National Highways Authority of India (NHAI) for widening and maintenance of roads in Madhya Pradesh and Maharashtra. Sadbhav Engineering said it received a project for widening of...

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Moneylife Digital Team 15 October 2010
Tata Motors Ltd said its global sales increased 19% in September to 86,996 units on robust demand for both commercial and passenger vehicles. Sales of luxury brands from Jaguar Land Rover were at 19,528 units during September up 16% from the same month last year, Tata Motors said in a...

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Moneylife Digital Team 15 October 2010
New Delhi: India today offered 34 oil and gas blocks for exploration in the 9th round of New Exploration Licensing Policy (NELP), reports PTI. "The government is offering 34 blocks covering an area of 88,807 sq km," petroleum minister Murli Deora said. "The last date for bidding for the blocks...

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Moneylife Digital Team 15 October 2010
IDFC Mutual Fund floats IDFC Savings Scheme-Series I; Kotak Mahindra MF introduces Kotak FMP 370 Days Series 9; Pramerica MF files offer document with SEBI to launch Pramerica Short Term Floating Rate Fund IDFC Mutual Fund floats IDFC Savings Scheme-Series I IDFC Mutual Fund has launched IDFC...

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Munira Dongre 15 October 2010
Net sales above expectations; profit at the higher end; dollar guidance raised, but rupee guidance stagnant at the upper end due to appreciation INFOSYS Q2 Net sales (INR): Rs69.5 billion (expected range Rs66.1 billion-Rs68.4 billion) Net sales ($): $1.5 billion (expected range $1.44...

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Munira Dongre 15 October 2010
Axis NII at upper end of estimates but slippages rise; LICHF's NIMs hold AXIS BANK Q2 NII: Rs16.15 billion (estimated range Rs15.1 billion-Rs16.5 billion) Net profit: Rs7.3 billion (estimated range Rs6.7 billion-Rs7.5 billion) (NII and profits were both at the higher end of estimates)...

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Moneylife Digital Team 15 October 2010
The Indian market is likely to witness a soft-to-positive opening today on tepid global cues. US markets closed lower following a possible probe into foreclosure practices that spooked the banking sector. The Asian pack was seen taking a pause after the recent gains and concerns about a rise in...

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The government will have to be unusually quick to exploit the current window of opportunity by divesting stakes in fundamentally strong public sector firms and channel money into large infrastructure and development projects With the markets on fire, many investors seem to think that the...

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Moneylife Digital Team 14 October 2010
New Delhi: SpiceJet's new promoters SunTV chief Kalanithi Maran and his company KAL Airways will launch an open offer to acquire an additional 20% stake in the low-cost carrier on 18th October, reports PTI quoting Enam Securities, the manager of the offer. "The open offer will open on 18th...

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Moneylife Digital Team 14 October 2010
New Delhi: Indian Railways has assured state-owned NTPC of supplying it with additional coal for improving power generation at its stations in Farakka in West Bengal and Kahalgaon in Bihar, reports PTI. The additional supply will help improve the generation level at both the stations to about...

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Moneylife Digital Team 14 October 2010
The market, which seemed buoyant on global cues this morning, witnessed a jittery session resulting in the indices shaving nearly half the gains that were accrued yesterday. Institutional sell-off was seen as the major cause for today’s decline. The domestic market opened firm this morning...

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Moneylife Digital Team 14 October 2010
Everest Kanto Cylinder Ltd said it formed a subsidiary, EKC Industries (Thailand) Co Ltd in Thailand as that country is promoting natural gas vehicles in a big way. On Thursday, Everest Kanto Cylinder shares gained 0.3% to Rs128 on the Bombay Stock Exchange, while the benchmark Sensex closed...

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Moneylife Digital Team 14 October 2010
DCW Ltd, a manufacturer of basic chemicals, said it has signed a technical license and support agreement with Italy-based Rockwood Italia, a producer of synthetic iron oxides. No financial details were provided. DCW said it plans to use Rockwood's licensed technology in setting up a synthetic...

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Moneylife Digital Team 14 October 2010
Software services firm Mastek Ltd registered a net loss of Rs13.5 crore for the first quarter ended 30 September 2010 as against the net profit of Rs26.4 crore in the same quarter last year. During the September quarter, its total revenues declined to Rs151.4 crore from Rs191.4 crore due to...

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Moneylife Digital Team 14 October 2010
Housing mortgage lender LIC Housing Finance Ltd on Thursday reported a rise of 36.8% in its net profit to Rs234.2 crore for the second quarter ended 30 September 2010. It had a net profit of Rs171.3 crore during the same quarter of the last fiscal, LIC Housing Finance said in a filing to the...

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Moneylife Digital Team 14 October 2010
Private sector lender Axis Bank reported a 38.3% growth in its second quarter net profit to Rs735.1 crore from Rs531.6 crore last year, on higher revenues from treasury and corporate banking segment. For the quarter to end-September, the lender said its total revenues, including interest...

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Moneylife Digital Team 14 October 2010
New Delhi: Godrej Consumer Products (GCPL) today said its board of directors has approved the merger of Godrej Household Products Limited (GHPL) with itself, reports PTI. The company said the merger subsequent to GCPL's acquisition of 51% stake in Godrej Sara Lee (GSLL) from erstwhile partner...

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Moneylife Digital Team 14 October 2010
Reliance Life Insurance launches new ULIP; Regional Rural Banks to open no-frills accounts for minority students: RBI; SEBI extends ASBA facility; Credit cards transaction up nearly 29% in August 2010 Reliance Life Insurance launches new ULIP Reliance Life Insurance has introduced a new...

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Munira Dongre 14 October 2010
After a poor showing against TCS in Q1, most analysts on the Street expect Infosys (results on 15th October) to be a top performer among Tier-1 IT stocks this quarter INFOSYS Q2 Net sales (INR): Rs66.1 billion-Rs68.4 billion Net sales ($): $1.44 billion-$1.48 billion Net profit: Rs16.8...

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Moneylife Digital Team 14 October 2010
Singapore: Singapore Mercantile Exchange today said the Singapore branch of ICICI Bank Ltd has become its Special Clearing Member (SCM) for clearing and settling futures contracts at the bourse here, reports PTI. As an SCM, ICICI Bank will clear and settle trades for its regional and...

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