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| ICICI Bank shares soar 7 pc on value
unlocking plans MUMBAI, Jan 10: Shares of ICICI bank today surged by nearly seven per cent on the back of the country's biggest private sector lender's plans to unlock value in ...more' Volvo to invest Rs 80 cr for setting up manufacturing plant NEW DELHI, Jan 10: Bus maker Volvo Bus Corporation will invest Rs 80 crore to set up a bus body manufacturing plant at Hosakote, Bangalore.The company ...more Gold falls from record at open NEW DELHI, Jan 10: Gold prices fell from record in opening session on the bullion market today as stockists off-loaded part of their holdings to book profits........more Honda Siel to enter small-car segment with ‘Jazz’ NEW DELHI, Jan 10: Car maker Honda Siel today said it will enter into small-car segment with the launch of ‘Jazz’ in 2009."The company plans to launch Jazz by the end of next year," Honda Siel India Ltd President M Takedagawa told reporters at Auto Expo here."With entry into small-......more |
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L&T bags Rs 2,000 cr order from
Australian firm MUMBAI, Jan 10: Engineering and construction major Larsen & Toubro today said it has bagged Rs 2,000 crore order from Australia-based Kingston Properties .....more Yamaha to
pump in NEW DELHI, Jan 10: US-based Yamaha Motor India today said it will invest Rs 750-800 crore over the next three years for product development, capacity expansion and marketing initiatives.......more GDP may
slip to 8.4 pc LONDON, Jan 10: India is likely to witness further moderation in economic growth with the Gross Domestic Product (GDP) slipping to 8.4 per cent in 2008, ....more Sharp fall in Instanex Skindia DR Index MUMBAI, Jan 9: The Instanex Skindia DR Index declined sharply by 117.34 points or 3.17 per cent to 3,588.06 on January 8 from 3,705.40 previously. The P/E Ratio also moved down to 31.64 from 31.86, a Instanex Capital release said here today.Following are the GDR and ADR rates for Jan 8 in US dollars with differences in ......more |
ICICI Bank shares soar 7 pc on value unlocking plans MUMBAI, Jan 10: Shares of ICICI bank today surged by nearly seven per cent on the back of the country's biggest private sector lender's plans to unlock value in its various subsidiaries. After a 6.8 per cent rise to an all-time high of Rs 1,399.90 in morning trade, the shares were trading 6.3 per cent up at Rs 1,393.25 at the BSE. This represents over 75 per cent gain since a 52-week low of Rs 791.15 on April 3. The surge came after the country's most valued bank said that it was mulling options to unlock value in at least four of its subsidiaries in the near future by way of listing, private placement or other ways. Bank Managing Director and CEO K V Kamath told PTI in an interview that the group was "undervalued" at the current levels, if one looks "at full or true value of the group." "If you look at embedded value, clearly there is a scope for valuation to look different from what it is currently." While noting that the bank was yet to take the board's approval on unlocking value in its subsidiaries, Kamath said: "It would be appropriate to start considering opportunitis to unlock." Kamath said that the process could start within six months and the potential subsidiaries for taking to the market in the near future include its brokerage arm ICICI Securities, its home finance subsidiary and two insurance arms -- life insurance arm ICICI Prudential and general insurance unit ICICI Lombard. However, the option for insurance arms was subject to the proposed holding company structure not happening. (PTI) Volvo to invest Rs 80 cr for setting up manufacturing plant NEW DELHI, Jan 10: Bus maker Volvo Bus Corporation will invest Rs 80 crore to set up a bus body manufacturing plant at Hosakote, Bangalore. The company has tied up with India’s Jaico Automobiles to form a joint venture company-Volvo Bus Body Technologies India Pvt Ltd, Volvo Bus Corporation Director Akash Passey told reporters at the 9th Auto Expo here. The JV company would have a manufacturing capacity of 1,000 buses per year and cater to both Indian and foreign markets. (PTI) Gold falls from record at open NEW DELHI, Jan 10: Gold prices fell from record in opening session on the bullion market today as stockists off-loaded part of their holdings to book profits. The gold traded lower by Rs 110 at Rs 11,240 per ten gram. The metal had surged to a record at Rs 11,350 in previous day's trading influenced by a firming trend in global markets. A steep fall in its prices in the overseas markets last night dampened trading sentiment to some extent. The gold in future trading for February fell to 881.70 dollar in the US market after climbing to 894.40 dollar last evening. Moving with the trend, silver also tumbled by Rs 150 at Rs 19,950 per kilo in Delhi. (PTI) |
Honda Siel to enter small-car segment with ‘Jazz’ NEW DELHI, Jan 10: Car maker Honda Siel today said it will enter into small-car segment with the launch of ‘Jazz’ in 2009. "The company plans to launch Jazz by the end of next year," Honda Siel India Ltd President M Takedagawa told reporters at Auto Expo here. "With entry into small-car segment, the company aims to cross sales volume of 1,60,000 cars by the end of 2010," he added. (PTI) L&T bags Rs 2,000 cr order from Australian firm MUMBAI, Jan 10: Engineering and construction major Larsen & Toubro today said it has bagged Rs 2,000 crore order from Australia-based Kingston Properties for construction of offices and residential buildings here. Kingston Properties is a development company based in Newcastle CBD. It undertakes a range of projects that comprise residential, commercial and land development. The project would be completed in a period of four years, L&T said in a filing to the Bombay Stock Exchange. In the last nine months, the construction division of L&T has secured orders worth Rs 12,000 crore including Mumbai International Airport Ltd (MIAL) order, for modernisation of Chhattrapati Shivaji international airport, it said. (PTI) |
Yamaha to pump in Rs 800 cr in 3 years NEW DELHI, Jan 10: US-based Yamaha Motor India today said it will invest Rs 750-800 crore over the next three years for product development, capacity expansion and marketing initiatives. "We are planning to invest Rs 750-800 crore over the next three years to streamline operations in India and reestablish the Yamaha brand," Yamaha Global President Takashi Kajikawa told reporters here at the 9th Auto Expo. The company today unveiled three new bikes based on its super-sport motorcycles and would launch them in phases during the current calendar year. (PTI) |
GDP may slip to 8.4 pc in 2008: World Bank LONDON, Jan 10: India is likely to witness further moderation in economic growth with the Gross Domestic Product (GDP) slipping to 8.4 per cent in 2008, says a World Bank report. India’s economic growth rate, however, was likely to marginally improve to 8.5 per cent in 2009, said the World Bank’s ‘Global Economic Development: Technology Diffusion in the Developing World’ report released here yesterday. Having touched a high of 9.4 per cent in 2006, India’s GDP growth rate moderated to 9 per cent in 2007 and is expected to slip further in the current year, the report said. In case of China, the report added, economic growth rate too will slip from 11.3 per cent in 2007 to 10.8 per cent in 2008 and further to 10.5 per cent a year later. The modest easing of GDP growth rate in India, the report said: "Reflects a firming ...(of) Indian import demand that yielded a negative export position, further underpinned by strong appreciation of the rupee." However, the rupee appreciation mainly on account of increased capital flows has helped India keeping under check inflation, which touched 3 per cent in November, breaching a five-year low of Wholesale Price Index (WPI) mark, the report said. In addition to the impact of slowdown in the US economy, the upcoming risks which can have a bearing on India’s growth include spiralling crude oil and commodity prices, the report added. (PTI) |
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