Rural Electrification Corp prices IPO at Rs 105 a share
State-run lender Rural Electrification Corp has priced its initial public offer at Rs 105 a share, at the top end of its indicated price band, a senior official said on Monday.
“The board has approved 105 rupees. The group of minister’s has also concluded […]
Larsen and Toubro on Monday said it is not going ahead with its IPO plan for its IT company, L&T Infotech, because of the volatile global market condition.
“We are dropping plans of an IPO for Infotech in 2008 because the markets are volatile,” L&T CMD A M Naik told reporters.
Earlier, L&T officials had said Infotech […]
Reliance Industries Ltd announced on Tuesday that it had struck gas in the NEC-OSN 97/2 (NEC-25) block located in the NEC-Mahanadi offshore basin, off the Orissa coast in Bay of Bengal.
This shallow water block covers an area of 10,755 sq km and water depths ranging between 20 metres and 600 metres.
This is the eighth discovery […]
Board meeting on March 5 to consider the proposal.
The Anil Dhirubhai Ambani group-promoted Reliance Energy Ltd (REL) has proposed a buyback of its shares.
The management has not stated any particular objective for buyback, but a press release said it has convened a board meeting on March 5, to consider the proposal.
The move comes just two […]
Gateway Distriparks
CMP: Rs 116.85
Target price: Rs 175
Merrill Lynch has retained its buy rating on Gateway Distriparks, with a price Target of Rs 175. “GDL is going ahead with its plans to raise funds for Rail Freight subsidiary in which it currently owns 85%; the […]
Tata Motors
CMP: Rs 702.1
Target price: Rs 764
IDFC-SSKI Securities has assigned a ‘neutral’ rating to Tata Motors with a price Target of Rs 764. “Despite strong freight availability and stable freight rates, truck sales have been adversely impacted due to rampant overloading and stringent lending […]
Tulip IT Services
CMP: Rs 1,012
Target price: Rs 1,348
Networth Stock Broking has initiated coverage on Tulip IT Services with a ‘buy’ rating and a price Target of Rs 1348. “Tulip’s core business relating to network integration and data connectivity is finding large acceptance and deployments […]
Idea Cellular
CMP: Rs 112.20
Target price: NA
Brokerage house UBS Securities is recommending its clients to start accumulating shares of Idea Cellular, saying the management is taking the right steps to create shareholder value.
“Idea Cellular is focused on execution and their current […]
