The United Progressive Alliance government conveyed its intentions to tap the stock market for raising resources through sale of PSU shares while retaining 51 per cent stake in the state-owned firms.
Reports have suggested Rs 400-650 as the possible IPO price
Dalal Street is expected to open a notch higher tomorrow on the back of strong Asian and European cues when markets open after four-day long holiday. Japan's Nikkei ended 1.33 per cent higher on Monday, while Shanghai closed up 1.51 per cent.
At the heart of these predictable manifestations of business cycles usually were financial instruments which became so popular that they came to be more commonly referred to by their abbreviations or acronyms than their original names.
"The market will most probably open in negative territory but national fervour could help it in closing better," said Arun Kejriwal, director, Kejriwal Research and Investment Services. Global research firm Moody's Economy.com said, "Although the terrorist attacks are expected to affect market sentiment, local investors in Mumbai are well acquainted with terrorism and unlikely to engage in panic selling."
The government's vision of "housing for all by 2022" may turn out to be an uphill task with developers keeping off low-cost housing projects citing regulatory hurdles, high land cost and low returns making such projects "unaffordable".
The rally was over before they could even blink.
In an hour-long chat on rediff.com on Wednesday, market expert Pranav Sanghavi offered some valuable tips to our readers.
'Kejriwal has given not only Modi and Shah some food for thought, but also to jaded Opposition leaders who must now wonder whether taking on the BJP's majoritarianism by the horns, as they have been doing so far, is the appropriate strategy in such extraordinary times,' notes M K Bhadrakumar.
The gap between Nifty's price-earnings multiple and economic growth is at a 12-year high
Ever heard of 'gosht ka halwa' or 'dal ki dulhan'? Avantika Bhuyan profiles a battery of food enthusiasts who are out to make sure that you do.
Bulls may be pinning hopes on Diwali fireworks at Dalal Street, but fund managers are uncertain whether this time around the 'festival of lights' will again trigger a historic trend of mostly positive movements.
Even as foreign institutional investors rapidly pull out their money from Dalal Street, Norway's sovereign wealth fund, the world's second largest, is set to invest $2 billion in Indian stocks.
A summary of Wednesday's play in Ranji Trophy matches across the country.
'Olympic wrestling is like an old Nokia phone.' 'WWE is like an iPhone.' The Great Khali's academy turns pro-wrestling dreams into reality
The UPA government will follow an inclusive reforms agenda all the while keeping a check on India's fiscal health, says Manoj Vohra, research director at Economist Intelligence Unit.
Dalal Street is likely to cross the 15,000 level on Tuesday and may hit the first upper circuit of 10 per cent as the upbeat market sentiment may attract retail investors to cash in on the bullish phase, analysts said.
In an hour-long chat on rediff.com on Wednesday, market expert Pranav Sanghavi offered some valuable tips.
Reliance closed at Rs 2,195, higher by 3.3% on the BSE, after having placed a bid for a controlling interest in LyondellBasell Industries.
The combined market valuation of all the listed companies in the country dropped to Rs 30,86,075 crore (Rs 30,860.75 billion) on the last day of this fiscal as against Rs 49,72,953.37 crore (Rs 49,729.53 billion) on March 31, 2008, leading to a loss of over Rs 18,86,000 crore (Rs 18,860 billion) during the period.
The risk-reward ratio could turn adverse for foreign investors if corporate earnings disappoint by wide margins, or if crude oil prices spike in the international market, putting pressure on the rupee-dollar exchange rate.
Making the things worse, those hitting their record low share prices included big names like Reliance Power, Cipla, Ranbaxy, Ambuja Cement, Hindalco, Indian Hotels, Jaiprakash Associates, Jet Airways, Suzlon Energy and Idea Cellular. Realty majors DLF Ltd, Unitech, Parsvnath, Sobha Developers, Omaxe and Puravankara also plunged to their all-time lows.
Don't let the hole in your wallet stop you from studying abroad. Karan Gupta looks at some funding options for you.
This comes a couple of days after activists of the Sena's student's wing, Bharatiya Vidyarthi Sena, targeted establishments that still have Bombay in their names, including the city's prestigious school, Bombay Scottish, a Bombay Dyeing showroom and offices of The Times of India, whose city supplement is called Bombay Times. Senior Sena leaders on Tuesday held a protest outside PJ Towers on Dalal Street and threatened further action if their demand was not met.
"In next 12 to 18 months we should see a lot of uncertainty being cleared, and might see a new high certainly in late 2009 or early 2010, when uncertainty in global market is diminished and domestic concerns like inflation and high interest rates come under control," Religare Securities President (equity) Amitabh Chakraborty said.
BSE Midcap and BSE Smallcap indices settled the day 0.7% and 0.9% higher
According to an analysis of the changes in the listed companies' shareholding patterns since the beginning of this year, the number of companies where foreign institutional investors have raised their holding is bigger than that of those where FII holdings have gone down.
Till 15 days ago, only two PSUs - Oil and Natural Gas Corporation (ONGC) and National Thermal Power Corporation (NTPC) - ranked amongst the five most valuable companies. But with two more PSUs, Mineral and Metals Trading Corporation (MMTC) and National Mineral Development Corporation (NMDC), seeing sustained rise in the last three months, the number has risen to four.
Naresh S Dalal, a Chemistry and Biochemistry professor at the Florida State University collaborated with three colleagues, Jorge Lasave, Sergio Koval and Ricardo Migoni, all of the Universidad Nacional de Rosario in Argentina, to determine why a certain type of crystal known as Ammonium Dihydrogen Phosphate or ADP, behaves the way it does.
These schemes are expected to perform in the next 2-3 years.
Mohnish Pabrai whose company handles funds to the tune of $464 mn spoke at length about his investment decisions in Mumbai
Ahead of the credit policy markets were down by 400 points and after RBI announced the credit policy, it went into a downward spiral falling by another 337 points to below 9,000-points mark, a level last seen in July 2006. RBI on Friday kept its key rates unchanged in the mid-term review of annual monetary policy and lowered economic growth projections to 7.5-8 per cent for 2008-09.
The years when investors had reaped positive gains included 2007 (3.88 per cent), 2005 (9.11 per cent), 2003 (7.46 per cent), 2001 (3.2 per cent). The Sensex's over 28 per cent jump in May this year, makes the biggest gains in a month over the past 10 years.
These investors are not only betting on little-known stocks, but also sectors that the market participants are not paying much heed to. Some of these stocks can be potential multi-baggers, while others may not live up to the expectations of these stock-pickers, says Jash Kriplani.
Parekh was held guilty in the case related to the 1992 stock scam, in which Canbank Financial Services was duped of over Rs 47 crore (Rs 470 million). On April 1, a special court in Mumbai had sentenced Parekh, Hiten Dalal and four others to one year in jail for siphoning off funds from Canbank Financial Services Ltd, a unit of Canara Bank.
Stock broker Ketan Parekh sentenced to one year jail term in the 1992 Canfina scam. Earlier, on November 12, 2007, the Securities and Exchange Board of India had barred Ketan Parekh and his associates, who were instrumental in the stock scam of 1999-2001, from accessing the stock market for another ten years.
Experts expect the trend to continue in the near term.
Here is a look at some of Aseem Chhabra's favourite memories of 2020 in Hindi cinema, performances by well-known and new actors, special moments in films and shows.
According to a Credit Suisse report, the steep Sensex fall has validated two fears: (1) The Indian market is linked to global developments; and (2) Foreign flows are the biggest drivers of the market.
The Aam Aadmi Party on Wednesday replaced its Mehrauli and Mundka candidates for the Delhi assembly polls following an inquiry by the party's "internal Lokpal", triggering protests outside Arvind Kejriwal's Kaushambi residence.
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