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Moneylife Digital Team 11 October 2010
Mumbai: The Vedanta Group today ruled out increasing the open offer price to minority shareholders of Cairn India, saying its current offer was "lucrative," reports PTI. "There is no question (of increasing the open offer price). The price is final and that is a very lucrative offer," Vedanta...

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Reliance General’s ‘gross premium underwritten’ is down by over 21%, partly as a result of increase in premium by almost 500% in Reliance HealthWise, which has put off customers. This is at a time when the general insurance sector is expanding and no other company is exhibiting negative growth...

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Moneylife Digital Team 11 October 2010
Global cues point out to a positive opening for the Indian market. The US markets settled higher on Friday on hopes that the Federal Reserve will provide further stimulus to boost the sagging economy, as the jobs market witnessed a cut of 95,000 jobs in September. Asian markets were on the US...

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We have frequently pointed out that the National Stock Exchange (NSE) is a secretive organisation. The transparency of its trading platform does not extend to its own operations. It is fighting a hard, legal battle to avoid application of the Right to Information (RTI) Act. It lost a case in the...

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Moneylife Digital Team 09 October 2010
The market ended its five-week winning streak, ending in the red for the week ended 8th October on all-round selling pressure and tepid cues from the global and domestic arena. Nervousness ahead of the domestic earnings season, which kicks off next week, also kept investors on the sidelines....

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Even as IRDA readies its guidelines for insurance company IPOs, there are questions over the quality of disclosures mandated and whether investors would really be able to analyse the prospects of an insurance company Even as insurance companies are waiting for guidelines on Initial Public...

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Moneylife Digital Team 08 October 2010
Chennai: Seeking to allay apprehensions of the textile industry over cotton exports, union textiles minister Dayanidhi Maran today said that the Centre would ensure the domestic requirement was met and export of raw cotton would not exceed 55 lakh bales this year, PTI reports. “The online...

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Moneylife Digital Team 08 October 2010
New Delhi: JSW Steel has registered an 8% growth in crude steel production in the first half of the FY11at 3.14 million tonnes (mt) as compared to the corresponding period last year, reports PTI. The company said in a statement today that production of flat steel products—used primarily by...

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Moneylife Digital Team 08 October 2010
New Delhi: Russia has disqualified state-run Oil and Natural Gas Corporation (ONGC) from bidding for the giant Trebs and Titov fields in northwest Russia, PTI reports. An Indian official with information about the process was critical of the development, saying that the bid was rejected on...

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Sanket Dhanorkar 08 October 2010
Mercer, the leading global consulting firm, which had advised the pension regulator on its pension offering, feels that PFRDA has missed out on the big picture in designing the NPS architecture While the new setup at the pension regulator, Pension Fund Regulatory and Development Authority...

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Moneylife Digital Team 08 October 2010
New Delhi: JSW Steel has registered an 8% growth in crude steel production in the first half of the FY11at 3.14 million tonnes (mt) as compared to the corresponding period last year, reports PTI. The company said in a statement today that production of flat steel products-used primarily by the...

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Moneylife Digital Team 08 October 2010
Global economic concerns and pressures from institutional investors led the Indian market lower for the second day in a row. The recent rally was due for a correction and investors made use of the opportunity to book profits. The market opened sideways in the absence of supportive global cues....

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Moneylife Digital Team 08 October 2010
New Delhi: Mahindra & Mahindra (M&M) said today that it has advanced the period for redeeming the outstanding Foreign Currency Convertible Bonds (FCCBs) worth $141.2 million to this year from the earlier 14 April 2011, reports PTI. "M&M today issued a notice for early redemption of its...

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Moneylife Digital Team 08 October 2010
Pesticides manufacturer Nagarjuna Agrichem Ltd said it installed three wind turbine generators of 2.1 MW each in Tirunelveli District, Tamil Nadu. The project cost is about Rs34 crore. The company said it expects to generate around 46 lakh kWh/PA per wind turbine generator. On Friday,...

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Moneylife Digital Team 08 October 2010
Construction and engineering company Punj Lloyd said it won a contract worth Rs539 crore from state-owned gas utility GAIL India for laying a natural gas pipeline from Dabhol to Bangalore. Punj Lloyd will be laying seven spreads (sections) comprising 820 km of the pipeline, the company said in...

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Moneylife Digital Team 08 October 2010
Construction and engineering company Larsen & Toubro Ltd (L&T) said its buildings and factories division won orders worth Rs1,585 crore in the second quarter for construction of residential projects, factories, office space and hotel. L&T received new orders aggregating Rs435crore for the...

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Moneylife Digital Team 08 October 2010
Tata Steel Ltd said its sales increased 14% to 1.66 million tonnes (mt) in July-September quarter due to rise in demand for its products. "Tata Steel sold 1.46 mt in the second quarter of the last fiscal. For the half-year ended 30 September 2010, it sold 6% more steel products at 3.06 mt...

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Moneylife Digital Team 08 October 2010
ONGC Teri Biotech Ltd (OTBL) said it is competing with 12 companies for a contract worth about Rs13,300 crore from Kuwait Oil Corp. The project includes cleaning up a desert oil slick created in the Gulf war that followed Iraq's invasion of Kuwait in 1990. OTBL is a joint venture between Oil...

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Munira Dongre 08 October 2010
Citi says supply & demand for fertilisers continues to shift east, urea prices are correcting, DAP prices could slow down in the near term, and capacity is expected to exceed demand. For a net importer of fertiliser such as India, this could be good news Citi attended the Gulf Petrochemicals &...

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Moneylife Digital Team 08 October 2010
Mumbai: Global financial services firm Barclays Bank has acquired a 12.75% equity stake in BPO company Intelenet Global Services, reports PTI. "Barclays Bank has acquired 12.75% fresh equity issue in SKR BPO Services, the holding company of Intelenet Global Services," Intelenet managing...

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