Nifty ends near 5750; realty, tech, oil & gas down
MUMBAI: Indian markets ended volatile session marginally in the red extending losses for sixth straight session. Realty, technology and oil&gas space led the decline while banks, auto and capital goods showed resistance. Indices opened on a firm note as stocks beaten down in past few sessions bounced back from lower levels....
TAKE Solutions buys UK’s WCI Consulting Group
Chennai-based TAKE Solutions today said it has acquired UK-headquartered WCI Consulting Group through its subsidiary, a move that will help the company establish its presence in the European region. However, the value of the acquisition was not disclosed. The acquisition of WCI Consulting will help TAKE Solutions, which has...
Onion prices set to rise in Punjab after Pak bans exports
CHANDIGARH: Retail prices of onion are set to move further upward by Rs 5 to 7 per kg in Punjab following the ban imposed by Pakistan on onion exports to India via the Wagah-Attari land route, vegetable traders said today. “Definitely, there is a going to be pressure on retail rates of onions after the ban imposed on...
Promoters to pump in Rs 1,600 crore in Reliance Infrastructure shares
MUMBAI: Promoters will hike their stake in Anil Ambani group firm Reliance Infrastructure to 48 per cent pursuant to conversion of warrants allotted to them into equity shares for an estimated Rs 1,600 crore. In a regulatory filing to BSE, the company said that it will tomorrow consider the allotment of shares to promoter group...
Canada, Australia to woo investors at Vibrant Gujarat 2011
For the first time in the history of the event, a number of countries and states will pitch for investments at the upcoming Vibrant Gujarat Summit, senior government officials said on Wednesday. The first four editions of Vibrant Gujarat Summit, which was first held in 2003, have been used to promote Gujarat as the ideal place...
Cash rates near steady on improved liquidity
MUMBAI: Indian overnight cash rates were almost steady on Thursday as improved liquidity in the banking system ensured demand for funds was easily met. At 1 p.m., the one-day interbank cash rate was at 6.30/6.35, only marginally above 6.20/6.30 at close on Wednesday. The weighted average rate in the call money market was 6.34...
Sensex falls for third day on high inflation, down 116pts
MUMBAI: The BSE benchmark Sensex fell for the third consecutive day today, down over 116 points on sustained selling by investor on concerns that spike in food inflation would lead to higher interest rates, making borrowing costly for corporate as well as consumers. Opening on a positive note, the Bombay Stock Exchange index,...
Mutual funds’ AUM drops 5% in October
The average assets under management of the mutual fund industry declined by a hefty 5% during the October-December quarter , with country’s largest fund house Reliance MF’s assets shrinking by over Rs 5,000 crore. The industry’s AUM fell by Rs 37,904 crore, or 5.31%, in October-December period. The combined average AUM...
Fertiliser cos could get Rs 2,700 cr in three years to improve efficiency
NEW DELHI: Fertiliser companies could get Rs 900 crore every year for next three years as a part of a package to improve efficiency in the sector, according to a fertiliser ministry proposal that will be taken up by a group of ministers (GoM) on Wednesday. The proposal is being considered as part of a new regime for urea, which...
Car sales On High Pace In Dec’10
The ever increasing Indian car market has not disappointed the car makers at the dusk of the year 2010. The major breakthrough came from the giants like Maruti Suzuki, Tata Motors and M&M among the Indian companies. By now these companies are geared up to combat the facing challenges ahead with the expansion plans and new...
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