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The emerging market growth story is still playing out, but these markets are bound to be affected by cyclical growth patterns like any other economy Emerging markets are quite popular these days. As the developed world bumps along with 1% or 2% growth and rampant talk of double-dip recessions,...

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Munira Dongre 31 August 2010
Wockhardt: The stock was rising on rumours of the company selling some property to pay off debt. Wockhardt has several hospitals spread across Mumbai, Navi Mumbai, Goa, Nagpur, Nashik, Rajkot, and Surat. Recently, Sun Pharma put a spanner in its plan to settle its foreign currency convertible...

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Moneylife Digital Team 30 August 2010
The fund will closely track the stocks represented in the S&P CNX Nifty; but ETF volumes have remained on the lower side More and more fund companies are launching passive mutual funds, also called index funds. Among the passive fund products, after launching index funds which are supposed to...

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Moneylife Digital Team 30 August 2010
Mumbai: United Stock Exchange of India (USE) today said that it has postponed its launch scheduled for tomorrow. "Due to unavoidable circumstances the launch scheduled for Tuesday, 31st August, has been postponed. The new launch date is scheduled to be in September and will be announced...

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Moneylife Digital Team 30 August 2010
Reliance Industries Ltd (RIL), the country's largest company, said it bought a 14.21% stake in Oberoi Group company EIH Ltd for Rs1,021 crore. RIL also said it has full faith in and would support the management of EIH and there is no change of management, operation or control of EIH. RIL...

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Moneylife Digital Team 30 August 2010
New Delhi: The Supreme Court today directed parties to a carriage charge dispute, wherein telecom public sector undertaking (PSU) Bharat Sanchar Nigam Ltd (BSNL) is claiming Rs470 crore from players including Vodafone, Airtel and Tata Telecom, to submit details for verification by regulator...

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Moneylife Digital Team 30 August 2010
Oil Field Warehouse & Services Pvt Ltd (OWS), a specialised oil and gas services provider said it formed a joint venture with Europe-based oil and gas supply chain services provider ASCO. No financial details were provided. The 50:50 Indian joint venture aims to provide qualified and...

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Moneylife Digital Team 30 August 2010
Vishal Cotspin Ltd said it has been changed its name from Vishal Cotspin Ltd to Rodium Realty Ltd. On Monday, Vishal Cotspin shares closed 1.5% up at Rs203 on Bombay Stock Exchange, while the benchmark Sensex ended 0.2% up at 18,032 points.

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Moneylife Digital Team 30 August 2010
ACIL Cotton Industries Ltd said it received an additional 173 acre agriculture land to set up a unique business model of organic contract farming at Surendranagar in Gujarat. No financial details were provided. The company holds a total of 322 acre of land for cultivation of various crops. It...

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Moneylife Digital Team 30 August 2010
Alchemist Ltd said its net profit for the financial year 2010-11 stood at Rs15.6 crore, a rise of 11.4%, as compared to Rs14 crore last fiscal. During the year to end-March, the Alchemist's net sales increased to Rs396.4 crore, a rise of 2.6%, from Rs386.5 crore, it said in a statement.

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Moneylife Digital Team 30 August 2010
Usher Agro Ltd said its net profit for the June quarter increased to Rs23.5 crore, a growth of about 58%, from Rs14.8 crore in the same quarter last year. During the June 2010 quarter, its total revenues increased to Rs342 crore, a rise of about 63%, from Rs209 crore, the company said in a...

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Moneylife Digital Team 30 August 2010
SAT, which is mandated to hear appeals against orders of SEBI, may become the new Financial Sector Appellate Tribunal that can hear appeals against all regulators The government is contemplating strengthening the Securities Appellate Tribunal (SAT) as the Appellate Tribunal which can hear...

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Moneylife Digital Team 30 August 2010
New Delhi: With Cairn Energy Plc voluntarily offering to meet government conditions, the oil ministry may find it difficult to nix its deal to sell majority stake in Cairn India to Vedanta Resources, reports PTI. The oil ministry has shown signs of discomfort at a non-oil firm taking control of...

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Moneylife Digital Team 30 August 2010
New Delhi: Finnish mobile handset firm Nokia today said it will set up its server in India in November this year to adhere to the government's security concerns, a move that may force BlackBerry to also follow it, reports PTI. "We are launching the server on 5th November in compliance with all...

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Moneylife Digital Team 30 August 2010
Axis MF declares dividend under Axis Tax Saver Fund Axis Mutual Fund has declared dividend under its scheme Axis Tax Saver Fund. The quantum of dividend decided for distribution is Re1 per unit on the face value of Rs10. The record date for distribution of dividend is 31 August 2010. The scheme...

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Moneylife Digital Team 30 August 2010
Macquarie Capital said it appointed Sanjay Agarwal as its head equity capital markets (ECM) in India. Mr Agarwal who has more than 11 years of financial services experience will be based in Mumbai. Earlier he was working with Edelweiss Capital Ltd where he was involved in a large number of...

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Moneylife Digital Team 30 August 2010
New Delhi: Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, reports PTI. The port will cost a total of Rs1,150 crore, almost half of which has already been infused. "Mundra Port and Special Economic Zone (MPSEZ) announces commencement of...

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Moneylife Digital Team 30 August 2010
New Delhi: Anil Dhirubhai Ambani Group (ADAG) company Reliance Life Insurance has been awarded a high rating in customer satisfaction for the third year in a row, reports PTI quoting a survey. "Reliance Life Insurance Company, part of Reliance Capital, has been awarded a high rating for the...

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Moneylife Digital Team 30 August 2010
New Delhi: State-run NTPC today said it may join hands with the Bangladesh Power Development Board (BPDB) to establish two thermal power projects at Chittagong and Khulna for mitigating the power shortages in the neighbouring nation, reports PTI. "A memorandum of understanding (MoU) has been...

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Moneylife Digital Team 30 August 2010
New Delhi: The Supreme Court (SC) today asked former Satyam managing director B Rama Raju and four others, accused in Rs14,000-crore accounting fraud in Satyam, as to why their bails should not be cancelled, reports PTI. The Supreme Court bench comprising justice Deepak Verma and justice...

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