Financier Bernard Madoff has pleaded guilty to all 11 charges in one of the largest swindles in Wall Street history. He faces as many as 150 years in prison when sentenced.
The Nifty closed below the 5,000 mark for the first time in seven days and the Sensex ended below the 17,000 mark. The market breadth was fairly negative. Out of 2,825 stocks traded on the BSE, 1,875 declined and 871 advanced.
The Nifty closed at 5,114, lower by 27 points. The market breadth was fairly negative. Of 2,844 shares traded on BSE, 1,471 declined, and 1,322 rose.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Find out which financial instruments will protect you from bear market volatility.
In a move to allow US investors to directly participate in India's equity markets, Chicago-based US Futures Exchange (USFE) will exclusively license the Bombay Stock Exchange's Sensex for US dollar-denominated futures trading beginning February 22 next year. At present, US investors can buy only a handful of Indian stocks listed on the New York and Nasdaq exchanges through an American Depository Receipt (ADR) authorisation.
Narendra Kumar Patni, pioneer of India's information technology (IT) services revolution, passed away in the US.
Infosys Technologies plans to set up five SEZ in Tier II cities -- Mysore, Bangalore and Thiruvananthapuram.
"Levi & Korsinsky usually investigates a deal when any of the clients complain about chances of fraud in the transaction. In Aegis's acquisition of PeopleSupport, we received a complaint from a client who is a shareholder of PeopleSupport. After our investigation, if we find any fraud, we will take up the issue before the court. At this point of time, we can not disclose the name of the client," said Juan E Monteverde, associate, Levi & Korsinsky.
The NSE Nifty ended at 2,995, down 147 points. The market breadth was negative - out of 2,638 stocks traded, 1,566 declined, 998 advanced and the rest were unchanged on Wednesday.
World's largest exchange, the New York Stock Exchange is wooing India's showpiece IT firm Infosys Technologies to list its shares on its trading platform.
The acquisition will be conducted through a tender for all the outstanding shares of Infocrossing, followed by a merger of Infocrossing with a Wipro subsidiary.
The NSE Nifty ended at 3,513, down 93 points. The market breadth was extremely negative - out of 2,652 stocks traded, 2,164 declined, 442 advanced and the rest were unchanged on Wednesday.
Asian markets were weak this morning on uncertanaity over the $700 billion US bailout plan. Later on, the European markets, too, opened on a weak note, and US futures also indicated a negative start from Dow and Nasdaq. The market breadth was extremely negative - out of 2,684 stocks traded, 2,282 declined, 361 advanced and 41 were unchanged on Monday.
Rohit Kapoor, COO and co-founder, EXL Service, talks to Business Standard about the company's third-quarter performance, growth plans and outlook.
US-based Avocent Corporation, supplier of connectivity solutions for enterprise data centres, service providers and financial institutions, said on Monday it plans to expand operations in India and is mulling a software development unit.
Software firm iGate on reported a 19.42 per cent decline in its revenue at $44.8 million in the first quarter of 2009.
The market breadth was fairly positive - out of 2,724 stocks traded, 1,782 advanced, 858 declined and the rest were unchanged today.
Amid speculations the US-listed Indian portal Rediff.com was on takeover radar of giants like Yahoo and Google, a leading business publication said shares of India's internet firms were too expensive.
The Nasdaq-listed information technology networking major Cisco Systems has appointed Rangnath Salgame as its president for operations in India and SAARC region.
India's export-driven IT services industry would see erosion in margins due to the strengthening of the rupee, a top official of Infosys Technologies said on Friday.
The RBI is of course fighting tooth and nail to hold interest rates while every constituency, political, business and economic is baying for lowering them. So far, the RBI has held on admirably. Whether it will manage to hold on is a question mark. I strongly feel it should, because high interest rates are the last reason growth will be affected. The good news is that an economic slowdown may exert pressure on asset prices, both in the commercial and non-commercial space.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
W12 Studios will be part of TCS Interactive, further strengthening the already impressive array of creative and experience services it offers
The Nasdaq-listed company started selling books online just two months back and has collected good revenue so far. It has made a catalogue of 1.7 million books for its portal, which would caters to all the age groups.
The Indo-Serbian pair lost to eighth seeds Shinobu Asagoe and Katarina Srebotnik at the Nasdaq-100 Open.
US credit woes, political stand-off to loom over bourses.
While the Botox segment is growing annually at around 20-25% in the country, Allergan India's aesthetics business is growing at 60%
The NSE Nifty ended at 3545, up 54 points. The market breadth was fairly positive - out of 2,683 stocks traded, 1,654 advanced, 974 declined and 55 were unchanged on Tuesday.
In terms of percentage, Exlservice Holdings Inc has recorded the biggest loss of about 19 per cent, while Infosys, Satyam, Sify, Wipro, Rediff, WNS, HDFC bank, VSNL, Genpact, Dr Reddy's and Patni also saw their market values dipping. All the major IT scrips saw a fall of more than seven per cent, led by Satyam Computer (over 10 per cent), while Wipro and Satyam lost about eight per cent and seven per cent respectively.
Under the partnership, Bharat Biotech will use the patented virus like particle technology platform of Novavax to develop the single dosage pandemic influenza vaccine and undertake clinical trials before manufacturing and marketing the same.\n\n
Coffee lovers in India may have to wait up to two years to savour the Starbucks brand, with the Nasdaq-listed world's biggest coffee retail chain revising its plan to open its first store in the country.
The US stocks slumped on Thursday on signs of further weakness in the housing sector.
Indian pharmaceutical giant, Wockhardt has signed a deal with information technology services provider, Ness Technologies, to install, configure, customise, host and support its US-based financial IT infrastructure, a media report said.
Keshav Murugesh, CEO of the Nasdaq-listed WNS, discusses the impact of the Trump administration on BPO and BPM industry with Ayan Pramanik.
The two companies are into products and services, including real-time charging, billing, pre-paid products and managed services catering to the wireless telecom space.
"I think the people, who have been joining in the last one-two years, have a feeling of restlessness among them," T V Mohandas Pai, who is in charge of human resources at the Bangalore-headquartered Nasdaq-listed firm, said.
A Nasdaq-listed Israeli drug company has entered into an agreement with India's JB Chemicals and Pharmaceuticals to jointly develop products to improve its competitive edge in the US and other world markets.
The Bombay Stock Exchange is learnt to have shortlisted London, Nasdaq, Deutsche Borse, New York, and Singapore stock exchanges for the proposed sale of its 26 per cent stake.
