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Nifty Nifty all the way…
The markets consolidated for the second straight session with the Sensex closing just short of the 17,000 mark, up 22 points at 16,994. The Nifty gained eight points today, to close at 5,088. For the week, the Sensex gained 3.5%. The broader markets have outperformed for most of this week, with the Midcap Index up [...]
Brokers caution investors against loading up on shares in a hurry
Retail and high net worth individuals (HNIs) will have to tread carefully in the coming days, as the market appears to be finicky about
valuations. Key indices rose over 1% on Friday, as investors cheered the finance
minister’s proposals, especially those relating to government borrowings and personal taxes. But brokers have cautioned investors against loading up on [...]
Govt amends fertiliser policy, hikes urea prices
The government on Thursday approved a 10% increase in urea prices and partially eased controls over other fertilisers.
The hike was announced by Information and Broadcasting Binister Ambika Soni, after a Cabinet meeting.
Prices of urea would rise by Rs 483 per tonne from April 1, the minister said.
Currently, Indian companies sell fertilisers at a fixed price [...]
Hexaware Technologies net profit more-than-doubles
Three months ended Dec 31
(Versus the same period a year earlier, in million rupees unless stated)
Net profit 360.4 vs 171.0
Net sales 2,520.4 vs 3,058.6
The numbers are on a standalone basis.
NOTE: Hexaware Technologies is a software services and solutions privder.
India, Saudi influencing world energy trends
With crude reserves of 260 billion barrels and annual production of 3.26 billion barrels, Saudi Aramco is the world’s largest producer and exporter of crude oil. Its subsidiary, Aramco Overseas Company (AOC), has recently opened an office in India to source manufacturers and contractors for Saudi Aramco.
Abdulrahman F. Al-Wuhaib, senior vice-president (operation services) of AOC, [...]
Dubai jitters: Will bears overtake investor confidence now?
An over-leveraged Dubai may be writing a new chapter in the book of the global financial crisis of 2008-09. On Wednesday, the Dubai government said it will ask creditors of two of its flagship firms, Dubai World and real estate developer Nakheel, for a standstill on debt worth billions of dollars as a first step [...]
Market Trades high today
Volatility ruled the roost as the key benchmark indices pared gains
after striking one-month highs in mid-afternoon trade. The BSE
30-share Sensex rose 158.33 points or 0.93%, up close to 135 points
from the day’s low and off about 35 points from the day’s high. The
Sensex and the 50-unit S&P CNX Nifty attained their highest closing
levels in more [...]
Mukesh Ambani is richest Indian
A rebounding stock market that gained two-thirds in the past year and an economy growing at 6% have boosted the net worth of India’s richest people, according to the latest Forbes’ India Rich List.
The combined net worth of India’s 100 richest people is USD 276 billion, almost a quarter of the country’s GDP.
Last year, there [...]
Bulls Riding ahead…
Bulls were in command as the key benchmark indices continued their
uptrend in mid-afternoon trade on firm global stocks and higher US
index futures. The BSE 30-share Sensex was up 226.94 points or
1.32%. The BSE Sensex today, 16 November 2009, crossed the
psychological 17,000 mark and S&P CNX Nifty breached the key 5,000
mark. Both the indices hit their [...]
Euro Multivision loses 30% on day 1
Euro Multivision ended its first trading session below its issue price of Rs 75. It closed at Rs 51.85 on the NSE, at a huge discount of 30.87%.
On the NSE, the stock had listed at Rs 75. The share touched an intraday high of Rs 80.70 and an intraday low of Rs 51.65. The total [...]