Anil Ambani group-firm Reliance Power will be included in the National Stock Exchange’s 50- share benchmark index Nifty with effect from September 10. Reliance Power, which got listed on the bourses earlier this year, would replace Pharma major Dr Reddy’s Laboratories in the index, a National Stock Exchange circular said. At present, Reliance Power has [...]
The BSE Sensex closed lower by 557.57 points at 13,794.31 and NSE Nifty ended down by 142.25 points at 4,189.85 Market failed to recover from sharp losses and closed in deep red on account of further monetary tightening by the RBI.The BSE Sensex closed lower by 557.57 points at 13,794.31 and NSE Nifty ended down [...]
To defer deliveries of 29 narrow-bodied aircraft. Weighed down by rising crude prices, Vijay Mallya-promoted Kingfisher Airlines is in negotiations with international carriers to sell two of the five A340-500 aircraft it had committed to buy from Airbus last year. The airline may also defer taking deliveries of 29 narrow-bodied A320s, airline sources said. The [...]
Sterlite Industries Limited (SIL) is undergoing a major expansion programme by increasing its rich non-ferrous based asset portfolio, both organically and inorganically.The company is also increasing its fully backward integrated zinc capacity (reserves to meet ~19 years requirement) to 1.06mtpa, an increase of 41% to the current capacity by June 2010.In aluminium, SIL 29.5%-owned subsidiary [...]
Infosys Technologies has recorded an impressive growth in topline during the recently concluded quarter due to rupee depreciation. However, in dollar terms, sequential growth in topline stood at a mere 1.1%.EBITDA margins dipped 207bp q-o-q on account of the salary hikes carried out in April and higher visa costs. Nonetheless, the rupee depreciation witnessed during [...]
Mukesh Ambani controlled Reliance Industries (RIL) fears that gas supplied to Reliance Natural Resources (RNRL), belonging to younger brother Anil Ambani, would be traded to a third party as RNRL does not have a power plant, said Harish Salve, the legal counsel of RIL. Appearing before a Bombay High Court division bench comprising Justice J [...]
Allahabad Bank’s (ALB) Q1FY09 results have surpassed our expectations with net profit coming in at Rs934 million against our estimate of Rs344 million, led by robust asset growth.A higher incremental credit-deposit (CD) ratio for the quarter resulted in NII growth despite continued margin pressure. As expected, MTM losses totaled Rs2.6 billion, but a write-back of [...]
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The benchmark Sensex sharply fell 502 points to close at 14,274 and Nifty slipped 121 points to close at 4,311. Last session of the week ended on a weak note as traders and investors preferred to book profits for second straight trading session. Weak global cues coupled with profit booking and slightly disappointing quarterly numbers [...]
The BSE index vaults 523 points or 4% to end at 13,635. This came on top of yesterday`s 536-point gain, marking one of its fastest advance in recent memory The bulls continued their turnaround story of this week on Friday, with the benchmark indices notching up strong rally for the second consecutive day. Overnight gains [...]
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