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 [...]
Sobha Developers
CMP: Rs 811.85
Target price: Rs 1,172
Morgan Stanley has maintained its ‘overweight’ rating on Sobha Developers, saying it was best placed to ride the buoyant trend in the property market.
“We view Sobha’s competitive positioning favourably, given the company’s strong management [...]
M&M Finance
CMP: Rs 310
Target price: NA
Prabhudas Lilladher has assigned an ‘outperformer’ rating to M&M Finance, and has forecast an earnings per share of Rs 15.3 for the current financial year and Rs 20.2 for next year. “M&M Finance currently has a loan book of [...]
The complete list of winners at the 80th annual Academy Awards, presented Sunday night at the Kodak Theatre in Los Angeles:Best Motion Picture: No Country for Old Men.
Lead Actor: Daniel Day-Lewis, There Will Be Blood.
Lead Actress: Marion Cotillard, La Vie en Rose.
Supporting Actor: Javier Bardem, No Country for Old Men.
Supporting Actress: Tilda Swinton, Michael Clayton.
Director: [...]
The board of Reliance Power is due to meet this Sunday to discuss the bonus share issue.
The discussion will revolve around two things. One is the bonus ratio and second is the fair price, the current market price of the stock which is fairly valued as the stock is going to ultimately correct to that [...]
(Fortune) — When General Motors closed down a manufacturing plant in Boisbrand, Quebec, a private investment company called Cherokee Investment Partners bought the tainted industrial site.
After Burlington Mills shuttered a textile factory in Mooresville, N.C., Cherokee acquired the property even though it was contaminated by asbestos and toxic chemicals known as PCBs.
And just across the [...]
The Bombay Stock Exchange plans to pick up 26% stake in Ahmedabad-based National Multi-Commodity Exchange of India Ltd (NMCE), an announcement of the formalisation of the tie-up is expected here tomorrow.
In June 2007, the Bombay Stock Exchange had approached the Forward Markets Commission (FMC), the commodities market watchdog, for buying 26% stake in NMCE. The [...]
Anil Ambani Group company Reliance Power will give free bonus shares in the ratio of 3:5 to all its shareholders to compensate the losses they suffered when the company was listed a fortnight ago.
Reliance Power today announced a bonus isse in the ratio of 3:5., i.e three free shares for every five shares held by [...]