The Dalal Street made a spectacular recovery in the last hour of trade that erased most of its losses on a day of swinging fortunes. At close, the BSE Sensex stood at 17,971, down 61 points and the Nifty managed to hold on to the 5,400 level despite losing 13 points. The markets opened lower [...]
Hospitality major East India Hotels (EIH) today soared 20 per cent on its’ stake sale deal with Mukesh Ambani – led RIL, extending its gains for the second consecutive session. RIL itself was down over 1 per cent on BSE in the early trade. EIH, which gained 11 per cent yesterday, started the day with [...]
Reliance Industries on Monday acquired a 14.12% stake in East India Hotels (EIH) from the company’s promoters. Post the deal, the promoters will hold 32.31% stake in the company. “RIL wanted to invest in the hospitality industry and we welcome their investment in our company as it will satisfy our growth strategy. RIL will also [...]
Galaxy Surfactants is planning to enter the capital markets with a public issue to raise upto Rs 5.93 million for equity shares of face value Rs 10 each and has also filed DRHP with SEBI. The issue would constitute 25.07% of the fully diluted post issue paid-up capital of the company. Motilal Oswal Investment (P), [...]
Indian stock market were trading 0.3% higher on Monday, lifted by firm world equities, but were off early highs as traders cashed in gains at higher levels. Financials led the gains. Tata Steel jumped as much as 3.7% to Rs529 after the world’s seventh-largest steelmaker’s unit Corus said on Friday it had reached an agreement [...]
Market regulator Sebi has asked mutual fund houses to give investors the option to cash out when the fund administration fee goes up as a result of new rules. Currently, MFs charge investors a flat fee of 2.25 per cent on the average of daily or weekly net assets. Sebi had, in a July 29 [...]
SBI Mutual Fund has declared a dividend of 35 per cent for its Umbrella-Contra Fund under the dividend option plan. The record date has been fixed at August 13 (Friday), a press release issued in Mumbai stated. "We are happy to announce a 35 per cent dividend under this scheme and we hope to maintain [...]
Reliance Communications is planning to rope in strategic partners for its infrastructure and technology innovation unit for 3G mobile business, and is in discussions with global players like Motorola and HP. Sources said that discussions are also being held with likes of Intel and Sony. RCOM, Anil Ambani group’s telecom arm, is looking for partners [...]
Investors with medium-term perspective can consider selling the stock of Indiabulls Real Estate (Rs 171.5). The stock has been on an intermediate-term downtrend from its October 2009 peak of Rs 298. Moreover, the stock continues to be in a long-term downtrend since its all-time high of Rs 847 recorded in early 2008. In mid-August, the [...]
TVS Motor plans to invest Rs200 crore by April 2011 to increase its two-wheeler production capacity to 28 lakh units from the present 21 lakh units. With the company operating at high utilisation levels, capacity expansion is being carried out to meet the surge in demand in the two-wheeler space. Moreover, demand for TVS Jive [...]
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