Following its conversion into a corporate body, the Bombay Stock Exchange on Wednesday said it will strengthen its governance standards and practices and expected listed entities to diligently follow governance norms.
Muted rupee-term guidance, no upward revision in dollar-term guidance, an uncertain global business environment, forex losses due to over-hedged positions and low volume growth by the top four Indian IT firms this week spooked investors on Friday.
US technology major IBM has bagged a 10-year contract worth $ 600-800 million from Idea Cellular to integrate and transform its business processes and IT infrastructure.
Indian IT services provider Hexaware Technologies' stock on Monday closed at a four-year low on the Bombay Stock Exchange (BSE) after the company announced that it was conducting an "internal investigation" into "certain actively-concealed and potentially-fraudulent foreign exchange transactions conducted by a Hexaware official."
The wide-based National Stock Exchange index Nifty also dropped 178.60 points at 3,861.10, after touching a low of 3835.50 and a high of 4040.70 points. Marketmen said the funds were concentrating more on commodities and bullion in view of struggling equity markets, in India and on global front.
Scandent Solutions Corporation's wholly-owned subsidiary Scandent Group, USA has acquired US-based Nexplicit, a leading SAP services provider with a strong focus on entertainment and high-technology manufacturing industries
The double whammy saw the Bombay Stock Exchange's benchmark Sensex fall 3 per cent or 456.39 to close at 13,469.85 even as global rating agency Standard and Poor's suggested it might lower India's sovereign rating of BBB- (investment-grade status) due to the country's deteriorating credit profile over the last 12 months.
Anil Ambani Group company, Reliance Communication Ventures Ltd said on Monday it will raise upto $1 billion through its Sponsored Global Depository Receipts and American Depository Receipts programme.
Patni Computer Systems Ltd said on Monday it has acquired ZAiQ Technologies, a small ASIC design company, in Woburn, Massachusetts, by an asset purchase transaction for $425,000.
Reliance Industries has approved the demerger of power, financial and telecommunication services, the three entities that went to Anil Ambani as part of the settlement he reached with elder brother Mukesh.
The super-rich club is shrinking at a dizzying pace. Over 100 billionaires (net worth of Rs 100 crore and above) have turned millionaires courtesy the decline in share prices over the last six months.
Britannia Industries on Wednesday announced a change in its board with the appointment of Vinita Bali as its managing director and K K Dadiseth as the additional director.
Manoj Vaish, who has put in his papers as chief executive officer of the Bombay Stock Exchange, would be joining Dun & Bradstreet South Asia & Middle East Ltd as president (financial services).
NASDAQ, the world's largest electronic equities exchange, is looking to acquire equity position in National Stock Exchange of India Limited.
Mukesh Ambani Group-controlled Indian Petrochemicals Corporation Ltd said on Friday there would be no change in its management post amalgamation of its subsidiaries with itself.
Pharmaceutical company Unichem Laboratories Ltd said on Friday it has entered into a product development, manufacturing and supply agreement with US-based PLIVA Inc.
The Bombay Stock Exchange may longer enjoy the exclusivity over the reporting platform for the corporate bond market
Pune-based Bilcare Ltd, through its wholly owned subsidiary Bilcare Singapore Pte Ltd, has acquired US-based pharma research and clinical services business for an undisclosed amount.
The Bombay Stock Exchange is set to see a reshuffle in its board of directors, the first since the country's oldest bourse was demutualised and became a limited company last year. The reshuffle, details of which are yet to be discussed, is widely believed to be at the behest of market regulator Securities and Exchange Board of India.
Shares of Maytas Infra hit its lower circuit just after opening, to halt trading at Rs 105, down 4.99 per cent on the Bombay Stock Exchange. A similar fate was faced on the National Stock Exchange, where the scrip touched an intra-day low of Rs 105.40, down five per cent. A total of 971 shares got traded on both the bourses.
Diversified company GHCL, part of the Dalmia Group, said on Monday its step down subsidiary Best Textiles International in USA has acquired assets of Best Manufacturing Group LLC for $35 million.
On Thursday, Prasad resigned as an independent director from the board of Suven Life Sciences. Earlier this week, Prasad had resigned from the boards of GMR Infrastructure, Delhi International Airport Ltd, TVS Motor Company and castings firm Nelcast Ltd.
The hammering in the stock prices of the company, that was promoted by the family of disgraced Satyam founder B Ramalinga Raju started from January 7, the day Raju made public an about Rs 7,800-crore (Rs 78-billion) fraud. Shares of the company fell five per cent immediately after opening on the BSE and the National Stock Exchange and witnessed lows of Rs 117 on BSE and Rs 116.75 on NSE. On the volume front only 525 shares were traded on the bourses.
Software major Infosys Technologies on Tuesday announced a 33.31 per cent growth in consolidated net profit at Rs 1,641 crore (Rs 16.41 billion) for the third quarter ended December 31, 2008, over the corresponding period a year ago.
The company has entered into a definitive agreement with Philips for the acquisition, Moser Baer informed the Bombay Stock Exchange.
Bharatiya Janata Party leader and Investors' Greivance Forum chief Kirit Somaiya has meanwhile filed a criminal complaint against Satyam and demanded that all transactions that have been conducted (after Raju admitted the fraud committed by him) must be reversed today (Friday, Jan 9) before 3 p.m. on the stock exchanges.
DLF, Indiabulls win Rs 450 cr land deal
Mukesh Ambani-controlled Reliance Industries on Wednesday said there are no proposals for a bonus issue or a stock split of its shares.
When Deutsche Asset Management Company (AMC) listed its debt scheme - DWS Fixed Term Fund-Series 43 (growth option) - on the Bombay Stock Exchange (BSE) on April 4 this year, little did they know that within 24 days the scheme's net asset value (NAV) would double to Rs 20.
i-flex solutions on Tuesday said the Brazilian cooperative credit system, Sicredi, has selected its products -- Flexcube and Reveleus TM -- as a key part of its business and technology transformation programme.
Total income declined to Rs 14,176.84 crore (Rs 141.76 billion) during the October-December quarter, from Rs 16,922.73 crore (Rs 169.22 billion) in the year- ago period, ICICI Bank said in a filing to the Bombay Stock Exchange.
India's richest business houses would like to forget 2008 in a hurry. The market capitalisation of the top 20 business houses fell a whopping 65 per cent (Rs 16.73 lakh crore) over the previous year, courtesy the mayhem in the stock markets, performing far worse than the Bombay Stock Exchange's benchmark Sensex (down 52.5 per cent) and the broadbased BSE-500 index (down 58.3 per cent).
The abnormal price rise in two penny stocks - KGN Industries and Sylph Technologies - will top the agenda of the weekly surveillance meeting that the Securities and Exchange Board of India holds with stock exchanges.
Punjab National Bank and Bank of Baroda said on Monday they will reduce their prime lending rate by 50 and 75 basis points, respectively with effect from January 1. Besides, PNB announced a reduction in its peak deposit rate by 100 basis points to 8.5 per cent for deposits of one year to less than three years beginning new year, the state-run lender said in a filing to the Bombay Stock Exchange.
Polaris Software Lab Ltd on Thursday said it will set up a banking and financial Application Certification Centre in Belfast, Northern Ireland, assisted by Invest Northern Ireland.
The October 2008 landslide in stock prices, which caused a nearly 90 per cent drop in India's equity derivatives business, has dealt a severe blow to Asia's oldest bourse, the Bombay Stock Exchange.
Ahmedabad-based KGN Industries, a 'Z' group share that was re-listed at Rs 100 on the Bombay Stock Exchange on Wednesday after over seven years, witnessed a mammoth intra-day high of Rs 55,000 on minuscule volumes of 827 shares.
Ahmedabad-based KGN Industries, a 'Z' group share that was re-listed at Rs 100 on the Bombay Stock Exchange (BSE) on Wednesday after over seven years, witnessed a mammoth intra-day high of Rs 55,000 on minuscule volumes of 827 shares.Although the BSE suspended trading in the share at 12.20 pm on Wednesday, the exchange said trading would resume at usual on Thursday.
Sahara One Media & Entertainment Ltd said it will raise 50 million dollars through issue of equity shares or Foreign Currency Convertible Bonds in international markets.
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