The Bombay Stock Exchange today said 10 companies on its recently launched IPO index to track newly listed companies for the first two years would be excluded after completion of their term.
Mumbai-based financial services firm Prime Securities Ltd today announced that it would be setting aside Rs 23 crore ($5.7 million) as a provision for losses suffered during the recent stock market crash. The estimated provision was made for a depletion in the value of the securities the firm holds to date.
Private fund house Citigroup Global Markets (Mauritius) has hiked its stake in India Infoline, a stock brokerage firm, to 8.42 per cent after buying shares totaling Rs 1,424.17 crore through an open market transaction.
The country's second largest software firm Infosys on Tuesday reported a 15.72 per cent jump in consolidated net profit to Rs 1,722 crore (Rs 17.22 billion) for the first quarter ended June 30, 2011.
Foreign investors faced flak for pulling down the domestic stock market deep into the red over the past one month. However, a little bit of data crunching shows that Foreign Institutional Investors are not guilty as charged.
Extending its losing streak for the third consecutive session, energy major Reliance Industries fell by 1.6 per cent on the Bombay Stock Exchange on Thursday, dragging the broader Sensex down by 80.71 points.
The BSE Sensex may surpass the much-awaited 21,000-mark before the festival of Diwali, driven by the strong FII interest, analysts said.
The Bombay Stock Exchange could list on its own market this year either through an initial public offering or a direct listing, Rajnikant Patel, the group's chief executive, said. The move, part of efforts to reform India's second largest equities market after its demutualisation in 2005, comes as it seeks to raise its international profile.
According to S P Prabhu, higher government spending will lead to an increase in consumption, ultimately acting as a growth trigger. "The share market was expecting a lot of sops, concessions for the industry, which has not come out in the budgetary proposals. In fact, the minimum alternate tax has increased (from 10 per cent to 15 per cent). That's also the reason for the market sentiment to go down," he laments.
The Prime Minister's Office came out with the denial of the rumour that Dr Singh has offered to resign.
Most investors have become wary of placing fresh bets after the benchmark Bombay Stock Exchange's Sensex lost more than 3924.19 points, or 19 per cent, this year. The Sensex meltdown has also impacted the number of investments in the growth mode because earnings growth in several sectors has been affected indicating a cooling off effect on the economy.
A day after V R S Natarajan was suspended, BEML on Tuesday said its senior-most director P Dwarakanath has been given the additional charge as its chairman and managing director. Informing the Bombay Stock Exchange of the decision, it said Dwarakanath, BEML director of Metro and Rail Business, was given additional charge as the Chairman and MD, after the government suspended Natarajan following a CBI recommendation against him in the Tatra truck purchase deal case.
Investors might soon get to bet on various versions of the Bombay Stock Exchange's (BSE) benchmark index, the Sensex, and its other key gauges soon.
Ontrack Systems Ltd said on Wednesday it will acquire US-based Intellisys Group for $6.94 million.
Patni Computer Systems Ltd on Monday said it would raise up to $150 million additional capital by the issue of American Depository Receipts.
There is an unprecedented sense of jubilation among investors, as they expect a big thrust on the reforms front.
Though SEBI adopted many other measures in 2007 to streamline the capital markets, it was its decision on P-notes, which gave a jolt to the capital market and evoked extreme reactions both in favour and against the move.
The company had a net profit of Rs 1,636.61 crore (Rs 16.36 billion) in the same quarter previous year, Reliance Communications said in a filing to the Bombay Stock Exchange.
BSE has entered into an agreement with OMX, a Swedish firm, for new trading and clearing systems. The systems will be rolled out in mid-08.
Teledata Informatics Ltd on Tuesday said it has acquired US-based Alpha Soft Services Corporation through its subsidiary.
The board of directors, at the meeting held on April 13, has accepted the resignation of Parvatheesam K and the resignation is effective from the end of business hours of April 13, it added.
International Moscow Bank of Russia will deploy i-flex's financial software 'flexcube' for its core banking requirements under technology upgradation plan.
The IDR was trading at Rs 105.10, up 1.05 per cent, at 0956 hrs. "The Standard Chartered IDR had seen trouble during the initial response.
The company has launched a new chemical entity Lulifin (Luliconazole) in the Indian dermatology market, the pharma major said in a filing to the Bombay Stock Exchange.
The 30-share Bombay Stock Exchange BSE Sensex closed almost 330 points higher at 21,326 levels after hitting an all-time intra-day high of 21,484 during the day and the 50-share Nifty closed at its all-time high of 6,363.90, up almost 100 points.
Information Technology major Infosys Technologies on Monday said it will convert 16 million shares traded in India into American Depository Shares that would increase the float of its stock in the US stock market.
Aban Offshore, India's largest oil rig company, is likely to come under increased stress for repaying debt after the loss of its semi-submersible rig, Aban Pearl, which sank in the early hours of Thursday, according to analysts.
Intelligence agencies have sounded a terror alert in Kolkata, Mumbai, Delhi and major cities in Gujarat following reports that terrorists had entered these cities to target vital installations.The terrorists reportedly belong to the Lashkar-e-Tayiba and have been trained by the Taliban.In Mumbai, the security arrangements at the Bhabha Atomic Research Centre and the Bombay Stock Exchange have been beefed up.
Videocon Industries will merge Petrocon India with itself and the valuation of shares and exchange ratio would be five shares of the company for every two shares held in Petrocon India Ltd.
Following Reliance Communications' announcement last week accusing Videsh Sanchar Nigam Limited of delaying implementation of an international tribunal order, VSNL said on Wednesday the announcement contained false imputations against it.
Last year, Ranbaxy Laboratories' managing director and chief executive officer Atul Sobti had stepped down from his positions effective August 19, and was replaced by Arun Sawhney, who was the then president of the company's global pharmaceutical business.
Managing director and CEO of BSE Institute, Ambarish Datta, explains why courses offered by it are valuable and why those doing these courses stand a better chance in the job market.
Crompton Greaves Ltd said on Wednesday it has acquired businesses of two Hungary-based companies for about euro35 million.
Tata Iron and Steel Company on Monday decided to issue bonus shares in the ratio of 1:2, subject to shareholders approval.
Securities and Exchange Board of India (Sebi) has asked for an explanation from the Bombay Stock Exchange (BSE) for the shutdown in trading just after 2.30 p.m. as the rules allow the circuit filter (or the maximum allowed swing) of 15 per cent before stopping trading for one hour.
The All India Bank Employees Association, Bank Employees Federation of India, All India Bank Officers' Association and National Union of Bank Employees have given a call for one day country-wide strike.
