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Moneylife Digital Team 09 December 2010
New Delhi: Claiming that it would be tough to achieve complete migration of broadcast services from analogue to digital system by 2013 as recommended by the Telecom Regulatory Authority of India (TRAI), the government today said the needs of stakeholders must be protected, reports PTI. “This...

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Moneylife Digital Team 09 December 2010
The broader markets were thrashed for the fifth successive day today on offloading by institutional investors. The sell-off pulled the market down more than 2%, the biggest drop this week. The market opened with minor gains, but profit-taking in early trade sent the key indices into the red. A...

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Moneylife Digital Team 09 December 2010
Navin Jindal-led Jindal Power Ltd is likely to launch a Rs7,000 crore initial public offer(IPO) before March 2011. "There is a tentative planning that we would bring the IPO before March 2011," Jindal Power managing director RS Sharma said. The company had earlier said the proceed of public...

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Moneylife Digital Team 09 December 2010
Piramal Healthcare Ltd on Thursday announced the buyback of 20% of its total number of shares through a tender offer that will entail an outgo of Rs2,508.16 crore. The company shareholders through a postal ballot had approved the buy back of 4,18,02,629 shares of the firm from the shareholders...

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Moneylife Digital Team 09 December 2010
Country's largest power producer NTPC Ltd has earmarked a whopping Rs1.5 trillion investment for sourcing equipment for its power projects in the next fiscal, the deliveries of which will be made over five years "We will place orders for equipment next (financial) year... deliveries would be...

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Sanket Dhanorkar 09 December 2010
The market regulator SEBI recently banned Sanjay Dangi for colluding with promoters of four companies to influence share prices; however, Intelligence Bureau reports suggest that his involvement stretches way beyond these four firms Last week, the market watchdog, Securities and Exchange Board...

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Moneylife Digital Team 09 December 2010
New Delhi: Fund crunch is affecting implementation of a central scheme for developing infrastructure in urban areas with most of the states already exhausting their allocation, Rajya Sabha was informed today, reports PTI. “Yes.... The states are in need of more funds for their urban...

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Moneylife Digital Team 09 December 2010
New Delhi: Telecom minister Kapil Sibal today termed as "unfortunate" the war of words between operators and cautioned that such practices were not healthy for the growth of the sector, reports PTI. Asked to comment on operators accusing each other for being favoured by the government in...

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Moneylife Digital Team 09 December 2010
Gold ETFs are now a popular investment avenue, but they are flawed The phenomenal rally in gold prices continues to attract attention to the yellow metal. Gold exchange traded funds (ETFs) are enjoying their time under the sun, with investors keen to get in on some of the action through this...

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Moneylife Digital Team 09 December 2010
Mumbai: Prime Minister’s economic advisory council chairman C Rangarajan has asked microfinance institutions (MFIs) to overhaul their “flawed” business model for sustainability, reports PTI. This comes on the heels of former Reserve Bank of India (RBI) Bank governor YV Reddy likening MFIs to...

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Moneylife Digital Team 09 December 2010
ICICI Pru MF unveils one year fixed maturity plan; SBI Mutual Fund floats Magnum Income Fund–FRP–Saving Plus Bond Plan–Daily (D); Sundaram MF introduces 367 days plan; Tata Indicom launches remittance service through CellPayÒ ICICI Pru MF unveils one year fixed maturity plan ICICI...

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Moneylife Digital Team 09 December 2010
New Delhi: As third generation (3G) mobile services are set to be rolled out soon in the country, cyber experts sound a word of caution about the high tech enabled mobile phones, which they say are more vulnerable in the world of technology related crimes, reports PTI. While the next...

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Moneylife Digital Team 09 December 2010
Encouraging economic data from the domestic arena as well as from across the world along with gains in the broader markets helped the local bourses end the week with splendid gains, ending a three-week losing streak. The market is likely to face some resistance till the 20,300 levels are...

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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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