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Moneylife Digital Team 09 December 2010
New Delhi: The power ministry today said it may miss the power capacity addition for the 11th Plan period (2007-12) by about 4,000MW due to delay in commissioning of hydro-power projects, reports PTI. “3000-4000MW of the 62,000MW would be missed as hydro projects like Koteshwar are getting...

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Munira Dongre 09 December 2010
CLSA says financial sector is in phase 2 of the credit and deposit growth cycle during which banks will underperform; banks with a stronger current and saving accounts ratio, balanced asset liability management and lower dependence on wholesale deposits are better positioned; it prefers ICICI,...

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Moneylife Digital Team 09 December 2010
The Indian market is likely to witness a flat-to-positive opening on the back of supportive global cues. The US markets ended with marginal gains overnight while the Asian pack was mostly in the green, guided by stronger-than-expected economic growth for the September quarter. The SGX Nifty was...

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Ketan Parekh is trading in dozens of stocks, according monthly intelligence reports. Top ministry officials have been getting these reports regularly. But why are they sitting idly, and why is SEBI keeping mum? Ketan Parekh has been banned from trading in securities from December 2003 till...

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Moneylife Digital Team 08 December 2010
New Delhi: Faced with tight liquidity condition, banks have started offering high interest rate of 9.5% on certificate of deposit (CD), 125 basis points more than what they are giving to fixed deposit holders, reports PTI. Currently, the rates of CD, an instrument generally issued by...

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Moneylife Digital Team 08 December 2010
New Delhi: To help public sector companies acquire global mineral assets without delays, the government would soon set up a committee, chaired by cabinet secretary KM Chandrasekhar, which would help formulate a policy to fast track finalisation of bids, reports PTI. "Broadly, the idea is to...

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Moneylife Digital Team 08 December 2010
New Delhi: The government will decide whether to hike the cap on cotton exports in the current season beyond the existing ceiling of 55 lakh bales on 13th December, reports PTI quoting commerce secretary Rahul Khullar. A meeting of the secretaries of the ministries of commerce, agriculture...

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Moneylife Digital Team 08 December 2010
New Delhi: The BM Munjal promoted Hero group will buyout the Japanese partner Honda from the world’s largest two wheeler producing venture, a deal for which would signed this month, reports PTI. After months of negotiations, the Hero group is believed to have reached an agreement to acquire...

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Moneylife Digital Team 08 December 2010
New Delhi: State-owned oil companies may raise petrol prices by Rs1.50-Rs2 per litre early next week, while a Rs2 a litre hike in diesel rates is under the government consideration, reports PTI quoting a senior official. “Petrol prices will be raised after the current session of Parliament...

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Moneylife Digital Team 08 December 2010
Venus Remedies Ltd today announced the successful completion of Phase III clinical trial of a novel aminoglycoside molecule, Etimicin sulphate. Etimicin sulphate, for which Venus owns the exclusive manufacturing and marketing rights in India, was licensed from a company in China in 2007.  Dr...

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Moneylife Digital Team 08 December 2010
A sell-off in the broader markets after a news report that intelligence agencies are looking at price-rigging in select stocks sent the indices lower at the end of the session. The market opened in negative terrain, tracking its Asian peers which were trading mixed. Profit-taking, along with...

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Moneylife Digital Team 08 December 2010
Shreyas Shipping & Logistics Ltd through its wholly-owned subsidiary Shreyas Relay Systems Ltd has signed a memorandum of understanding (MoU) with Tata Motors Ltd for acquisition of 50 trailers. Shreyas plans to invest Rs17 crore at regular intervals for acquiring 50 trailers. It mentioned that...

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Moneylife Digital Team 08 December 2010
Natco Pharma Ltd said it has entered an agreement with US-based Watson Pharmaceuticals to develop and market generic lenalidomide tablets, used in treating cancer, in the US market. "Natco Pharma and Watson Pharmaceuticals confirmed an exclusive US development and license agreement to develop...

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Moneylife Digital Team 08 December 2010
Ajay Piramal is set to exit from realty-focused venture capital fund Indireit Fund Advisors by selling his 85% stake to financial services firm Religare Enterprises Ltd for Rs212 crore. Both parties have agreed to the deal, which is likely to be inked in another 10-15 days. Indiareit chief...

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Moneylife Digital Team 08 December 2010
New Delhi: Corporate India’s appetite for growth through inorganic mode has resurfaced with mergers and acquisitions (M&A) deal value in the month of November nearing $5 billion—over three times increase over last year, reports PTI quoting a survey. According to data compiled by research...

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Moneylife Digital Team 08 December 2010
Stories of market manipulation Swasti Vinayaka Synthetics (Rs14) Swasti Vinayaka Synthetics, which was part of the Siyaram group till 1989, manufactures textiles and sarees. Its stock surged 541% between 14 May 2010 and 1 October 2010. Sales in the March 2009 quarter were at Rs4.71...

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Moneylife Digital Team 08 December 2010
Washington: India could attract as much as $169 billion in clean power project investments in the next decade, reports PTI quoting a report. According to a report released today by The Pew Charitable Trusts, the annual clean energy investment in India is forecast to grow by as much as 763%...

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Moneylife Digital Team 08 December 2010
Birla Sun Life MF launches 90 days plan; Kotak Mahindra MF floats 370 days plan; Religare MF unveils 370 days plan; YES BANK enters strategic alliance with NCMSL for collateral management & warehousing services; Punjab & Sind Bank IPO opens on 13th December Birla Sun Life MF launches 90 days...

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Moneylife Digital Team 08 December 2010
New Delhi: India's exports in November rose by 26.8% to $18.9 billion year-on-year, prompting the government to exude confidence that the outbound shipments will touch $215 billion this fiscal, reports PTI. "Exports are doing pretty well... at this rate, four months from now it (total exports)...

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Moneylife Digital Team 08 December 2010
New Delhi: After four consecutive record-setting months, vehicle sales in the country slowed down in November, growing by 17.81% as against 45.93% growth registered in October on a year-on-year basis, reports PTI. According to Society of Indian Automobile Manufacturers (SIAM), the total...

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