Indian Stock Market

Gross buyers Rs.1262.79 crs
Gross sellers Rs.1050.39 crs
Net buyers Rs.212.40 crs

Housing Development Finance Corporation said it has closed its first sponsored real estate fund, raising $800 million (Rs 3,280 crore).
The ‘HIREF International LLC’ fund was initially intended to raise $50 million, but HDFC eventually raised $800 million despite the current tight market situation, said an official with the company. HIREF International is now one of [...]

Japan’s consumer prices declined for a sixth straight month in July, signaling the world’s second- largest economy has yet to overcome a decade of deflation. Industrial production and household spending dropped.

Danone chairman expected to meet Wadias on Sept 3. The Wadias of Bombay Dyeing are poised to buy the entire stake of partner Groupe Danone in biscuit maker Britannia at a discount. The contours of the deal are likely to be drawn up at a [...]

Asian stocks rose, with a key regional index set to post its second straight weekly advance.

Infinity Retail Ltd, a wholly-owned subsidiary of Tata Sons Ltd, plans to open eight Croma large format consumer electronics retail stores in Pune as part of its plan to open over 100 such stores by 2010. Ajit Joshi, managing director and chief executive officer of Infinity Retail Ltd, said the [...]

The Insurance Regulatory and Development Authority (Irda) has accorded the first stage of clearance to IDBI-Fortis Life Insurance, a joint venture of Industrial Development Bank of India, Fortis Insurance International of the Netherlands and the Kerala-based Federal Bank. “The final clearance is in an advanced stage of consideration,” Irda chairman [...]

The domestic steel prices are set to rise in September, with a hike of Rs 500-1,000 a tonne in hot rolled coil (HRC) rates from the beginning of the month. This will be the first rise in prices in the financial year and after the drop in July by the [...]

Asian Oilfield Services Ltd has informed that a meeting of the Board of Directors of the Company will be held on September 10, 2007, inter alia, to consider the Issue and Allotment of Warrants on Preferential basis to the Strategic Investors and promoters.

India’s tech posterboys and cross-town rivals Infosys Technologies and Wipro have shown interest in buying out the US-based high-end analytics company MarketRx. The indicative valuation of MarketRx is seen between $150 million and $160 million (Rs 615-650 crore), sources said.
This is probably the first time the Bangalore-headquartered Infosys and Wipro are seen chasing the same [...]

The empowered group of ministers’ (eGoM) likely approval of Reliance Industries’ (RIL) gas formula may be a big step forward in the resolution of the pricing controversy, but it may not be enough to get the gas flowing into the market by June 2008.
RIL will need to enter into legally-tenable gas sales contracts with its [...]

However, according to the company’s director Jayesh Shah the recast plans has nothing to do with the appreciating currency.
“We have taken up restructuring exercise. But it is not a move to address the rupee appreciation. We were to do this almost a year back, but it had been done now. With this restructuring, now [...]

The upcoming World Energy Outlook 2007 will study this phenomenon and its potential implications. While Russia has consolidated its position as a dominant oil and gas producer, the Organisation of the Petroleum Exporting Countries (OPEC) continues to control the largest reserves.
On the other hand, OECD production is on the decline, with the exception of non-conventional [...]

Q1 manufacturing growth is at 11.9% versus 12.3% YoY.
Q1 agriculture growth is at 3.8% versus 2.8% YoY.
Q1 construction growth is at 10.7% versus 10.5% YoY.
Q1 mining growth is at 3.2% versus 3.7% YoY.