 |
||
|
||
| Instanex Skindia DR Index improves
further MUMBAI, Feb 14: The Instanex Skindia DR Index improved further by 41.21 points or 1.39 per cent to 3,009.20 on February 13 from 2,967.99 previously......more' Punj Lloyd bags Rs 1,119-cr project from Singapore firm MUMBAI, Feb 14: Engineering and construction major Punj Lloyd today said it has bagged Rs 1,119.2 crore construction order ...more NEW DELHI, Feb 14: C B Bhave, Chairman of National Securities Depository Ltd, will be the new chief of market regulator SEBI and will replace incumbent M Damodaran.,,......more Mobile phones come alive to the magic of Valentine’s Day NEW DELHI, Feb 14: Valentine’s Day, the day of lovers, is no longer confined to just roses, chocolates and cards.With the mobile phone revolution in the country, lovers are using the hi-tech mode to express their love and the telecom companies are reaping the profits......more |
|
Reliance company adopts new name
month before filing DRHP MUMBAI, Feb 14: The Anil Ambani Group firm Reliance Infratel adopted its current name, the third in the last seven years, a ......more Nasdaq's 'Portal' seeks to attract fund-hungry India Inc MUMBAI, Feb 14: US bourse Nasdaq is pitching its Portal Market before India Inc as a way to faster fund raising as ......more BoB opens 10 overseas branches in 2007-08 LONDON, Feb 14: India's public sector lender Bank of Baroda has created a record by opening 10 overseas branches in a financial year, its Chairman .......more Saria prices decline on increased supply NEW DELHI, Feb 14: Saria prices dropped by Rs 500-1,000 a tonne in the local iron and steel market here today due to increased supply from furnace against poor stockists offtake and builders offtake.Marketmen said poor demand from stockists and retailers in view of ....more |
Instanex Skindia DR Index improves further MUMBAI, Feb 14: The Instanex Skindia DR Index improved further by 41.21 points or 1.39 per cent to 3,009.20 on February 13 from 2,967.99 previously. The P/E Ratio also rose to 26.23 from 25.68, Instanex Capital release said here today. Following are the GDR and ADR rates for Feb 13 in US dollars with differences in percentage from the previous level given in brackets. Bajaj Auto(GDR) 51.00 (-8.11) Dr Reddy (ADR) 13.70 (+1.48) HDFC Bank (ADR) 117.08 (+4.39) Hindalco (GDR) 3.73 (-6.36) ICICI Bank (ADR) 57.70 (+2.38) Infosys Tech (ADR) 42.09 (+0.53) ITC (GDR) 5.05 (+7.68) L&T (GDR) 82.00 (-2.96) MTNL (ADR) 6.39 (+1.91) Ranbaxy Labs (GDR) 9.25 (+0.54) Reliance (GDR) 119.50 (+0.17) Satyam Comp (ADR) 26.71 (+1.48) SBI (GDR) 110.00 (+2.02) VSNL (ADR) 25.65 (+7.68) Wipro (ADR) 11.64 (-0.34) (PTI) Punj Lloyd bags Rs 1,119-cr project from Singapore firm MUMBAI, Feb 14: Engineering and construction major Punj Lloyd today said it has bagged Rs 1,119.2 crore construction order from Singapore-based Marina Bay Sands Pte Ltd. Punj Lloyd’s wholly-owned subsidiary company, Sembawang Engineers & Constructors Pts Ltd (Sembawang E&C), was awarded the contract for constructing the north podium of Marina Bay Sands integrated resort, Punj Lloyd said in a filing to the Bombay Stock Exchange. The north podium comprises of the casino, theatres and retail arcade. "With immense opportunities in the Engineering, Procurement and Construction (EPC) space and a healthy order book we look forward to achieving higher success with the help of our group companies in the near future," Punj Lloyd Group Chairman Atul Punj said. With this 400 million Singaporean dollar contract, the order backlog for the Punj Lloyd group on consolidated basis has gone up to Rs 17,132 crore. This is the total value of unexecuted orders as of December 31, 2007 and new orders received till date. Work on this project would start in this month and is expected to be completed by April 2009. Subrange is also constructing the new Downtown Line Bayfront MRT station in Marina Bay that would connect directly to the resort’s meetings, incentives, conventions and exhibitions centre. (PTI) NEW DELHI, Feb 14: C B Bhave, Chairman of National Securities Depository Ltd, will be the new chief of market regulator SEBI and will replace incumbent M Damodaran. Bhave, who had earlier served both in the Finance Ministry as well as SEBI, is expected to take charge after Damodaran term ends on February 17, sources said. There was, however, no official confirmation on the appointment that is believed to have been decided last night after Finance Ministry reportedly took up the issue with the Prime Minister's Office. A notification on the appointment of the new SEBI Chairman is expected to be announced shortly. The name of Bhave, along with that of UTI Asset Management Company (AMC) CMD U K Sinha, Canara Bank CMD M B N Rao and Ministry of External Affairs Additional Secretary J Bhagwati, was doing the rounds as a possible successor to Damodaran. (PTI) |
Mobile phones come alive to the magic of Valentine’s Day NEW DELHI, Feb 14: Valentine’s Day, the day of lovers, is no longer confined to just roses, chocolates and cards. With the mobile phone revolution in the country, lovers are using the hi-tech mode to express their love and the telecom companies are reaping the profits. The telecom war has taken on a whole new aspect, with the players coming out with attractive Value-Added Services (VAS) like e-dating, e-greetings, e-roses, quiz contests, love calculators etc. "Mobiles today have become the primary means of communication, especially among the youths. On days like Diwali, Holi, New Year and also Valentine’s, we see a big spurt in usage of SMS to send wishes, greetings, pictures and other special content services," said Krishna Durbha Head, Sales and Marketing, Applications, Solutions and Content group, Reliance Communications, which has a customer base of over 35 million. "In India, it’s even more special given the popularity of Bollywood and regional songs etc. Which people set as their Ringtones, Caller Tunes and gift each other. VAS usage therefore sees a significant growth during such periods," added Durbha. The largest private telecom company in the country, Bharti Airtel, with a customer base of over 40 million, tied up with multiplex giant PVR Ltd for the ‘Airtel St. Valentine’s Carnival’, where an array of movies, including ‘Dilwale Dulhaniya Le Jayenge’ and ‘Love, Actually’, will be shown. Apart from this, the telecom major offered its wide range of dedicated VAS services for the day of love. Idea Cellular also offered a range of VAS offers, including virtual dating, FLAMES, love calculator and quotes. "Idea always aims to add excitement to the lives of its subscribers. The introduction of love-based themes and content is an additional initiative in this regard. We hope these services have enabled our subscribers to create everlasting memories with their loved ones on this special day," said Pradeep Srivastava, Chief Marketing Officer, IDEA Cellular. Tata teleservices did not lag behind and entered the fray with a ‘Valentine’s Day dream application’ and quiz contests. "At Tata Teleservices, it is our constant endeavour to provide valuable and exclusive offerings to our customer to experience the difference," said Vineet Bhatia, Chief Operating Officer, Delhi Circle, Tata Teleservices Ltd. Corporates, big and small, are likely to earn Rs 3,000 crore during the Valentine’s day period on account of higher sales of electronic business cards and other gift items like flowers, diamond jewellery, chocolates, mobile phones, gadgets etc., according to findings of the Industrial chamber ASSOCHAM. "Telecom giants are also witnessing this Valentine’s Day as an opportunity to reap in maximum revenue from the youth and will earn Rs 100-150 crore on that day," the chamber said in a statement. On the expected jump in earnings, Pankaj Sethi, President, Value added Services, Tata Teleservices said, "Various schemes and contests organised by us are enormously appreciated by our customers and we typically witness about a ten per cent incremental revenue spike for about two to three days around Valentine’s Day." (PTI) Reliance company adopts new name month before filing DRHP MUMBAI, Feb 14: The Anil Ambani Group firm Reliance Infratel adopted its current name, the third in the last seven years, a month before filing draft prospectus with SEBI for its initial public offer that may help the company raise an estimated Rs 6,000 crore. The 'dormant' company became Reliance Infratel Ltd on January 4, exactly a month before it filed the draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to issue about 9 crore shares with a face value of Rs 5 each. Reliance Infratel has filed the draft prospectus within days of another group company Reliance Power raising Rs 11,560 crore through a public issue that was oversubscribed 73 times, though its share prices on the day of listing declined to about Rs 372, against the issue price of Rs 450 per share. Reliance Infratel began its corporate journey way back on April 16, 2001 as Reliance Communications Rajasthan Pvt Ltd, said the draft prospectus. It was transformed into a public limited company in 2004, and two years later changed its name to Reliance Telecom Infrastructure Ltd. The name of the company was again changed to Reliance Infratel after promoters pumped in significant amount of money to raise its net worth from Rs 4.58 lakh as on March 31, 2006, to Rs 100 crore an the end of 2006-07. The net worth of Reliance Infratel, which according the DRHP remained a 'dormant company' until March 30, 2007, zoomed to Rs 4,940 crore, possibly to make it fit for a mega IPO. The summary of financial information provided in the DRHP showed that the net worth of the company, before it adopted the new name Reliance Infratel, was a mere Rs 80,942 as on March 31, 2003, dipping further to Rs 71,715 at the end of next year. (PTI) |
Nasdaq's 'Portal' seeks to attract fund-hungry India Inc MUMBAI, Feb 14: US bourse Nasdaq is pitching its Portal Market before India Inc as a way to faster fund raising as competition builds up from London's Alternative Investment Market and Singapore Exchange's recently launched Catalist. While all three routes have fundamental difference of structure, they all offer faster fund raising with lesser regulatory hurdles. Further, all three are betting big on Asian companies, especially India, where the demand for funds is huge. Nasdaq Portal Market facilitates trading in those securities that are not registered with the US market regulator, Securities Exchange Commission, and are referred to as 144A securities. The 144A securities can be sold only to Qualified Institutional Buyers (QIBs) and trading too takes place only among QIBs. As many as 70 India companies have raised funds on the Portal Market with 25 of them, including Reliance, DLF, Axis Bank, Idea Cellular Suzlon Energy, raising about 8.3 billion dollars in 2007. Reliance Industries and DLF both raised over 2 billion on the market. "Instead of the usual 24 weeks taken to raise money through the IPO route, Portal Market needs only 10 weeks for listing as no SEC approval is required," Nasdaq Senior Vice-President Jeffrey H Singer, who in here to attend the Nasscom India Leadership Forum 2008, has said. Though the fears of a possible slowdown in the US following the subprime crisis has reduced the number of issues on the Portal Market, Singer expects the environment to start normalising by mid-2008. (PTI) |
BoB opens 10 overseas branches in 2007-08 LONDON, Feb 14: India's public sector lender Bank of Baroda has created a record by opening 10 overseas branches in a financial year, its Chairman and Managing Director Anil K Khandelwal said here last night. Khandelwal said the 10th branch was opened in Kanton, Harrow, yesterday, a day after the bank opened a branch in Ghana. The overseas branches opened earlier this year included Johannesburg, Sydney, Botswana, Kenya, Ports of Spain and Jabala Ali Special Economic Zone, Dubai. Two more branches, in Bahrain and in Abu Dhabi, will be opened before March 31, 2008, he said. In India, the bank has opened 100 new branches in the current financial year and another 25 would be started before March 31, he told PTI. With the launch of the Kenton Branch, the 100-year-old bank has 69 overseas branches so far, spread over 24 countries. The bank, which has branches in major financial centres including New York, London, Dubai, Hong Kong, has a turnover of over Rs 2,35,000 crore as of today. And its overseas branches contribute 20 per cent of the total business and 30 per cent of the net profit. The bank's overseas business in 2007-08 was to the tune of Rs 45,000 crore. In last fiscal, the profit from overseas branches was Rs 300 crore, he said. (PTI) |
 |
|||||
|
|||||
|
|||||
|
