The market regulator, SEBI (Securities & Exchange Board of India) has okayed Indiabulls Power’s IPO (initial public offering). This subsidiary of Indiabulls Realty is expected to raise around Rs 2,000 crore. The proceeds of the issue will be used to part finance the construction and development of the 1,320 MW Amravati Power Project Phase – [...]
The Nifty and the Sensex gained over 6% in the September series. About 45% respondents of a CNBC-TV18 poll think that the Nifty’s range for the October series would be 4800-5000 while only 9% think that the Nifty would trade below 4800 in the October series. However, 36% respondents were bullish and said that the [...]
Sesa Goa Ltd said on Friday it will seek shareholders’ approval on 20 October to raise up to Rs6,000 crore in equity or debt Iron ore exporter Sesa Goa Ltd said on Friday it will seek shareholders’ approval on 20 October to raise up to Rs6,000 crore in equity or debt. The firm said it [...]
Cement stocks have been rather subdued since August, falling at an average rate of about 7%, at a time when the markets have extended the year’s gains by 6%. This is in response to the correction in cement prices, especially in south India and some parts of north India. According to an analyst, prices have [...]
Mine workers have not been paid for months and production has been hit yet another Indian firm is rushing into Africa. Hyderabad-based Nava Bharat Ventures Ltd (NBVL) is to spend a little over half a billion dollars to acquire a controlling stake in a government firm in Zambia that owns the largest coal mine in [...]
The 30-share BSE index ended up 240.47 points at 16,454.66, with 27 stocks gaining India’s main stock index rose 1.5% to its highest close in more than 15 months on Tuesday in anticipation of stronger quarterly earnings and hopes for a pickup in consumer spending. Financial issues led by State Bank of India, the country’s [...]
Telco’s cash may not stretch to cover its share of the Zain stake purchase Bharat Sanchar Nigam Ltd (BSNL) may not want to pick up a stake in Kuwait’s Zain Telecom because it wants to hold on to its cash to maintain interest earnings, and pay for third-generation, or 3G, spectrum and an ongoing restructuring [...]
The attached weekly chart shows that prices have been struggling to clear the trend line resistance for a while now. Formation of higher tops and bottoms in this period indicated the fact that despite of the resistances the uptrend here was maintained. Last week’s smart rise saw nice trended moves here which pushed prices into [...]
Prices launched a steady uptrend after hitting a double bottom around 86 in March 2007. This rise led the stock to around 240. What a phenomenal rise!!!! Near this region, it completed a accumulation pattern and got stuck in a sideways phase. This was possibly owing to the presence of profit booking after such a [...]
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