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Maruti stock at 52-week high on Rs 20k price hike reports
Mumbai: Shares of Maruti Suzuki India today rose by over 3 percent to touch a one-year high level after the company said it would increase the prices of its vehicles across all models by up to Rs 20,000 from January. After making a bullish opening, shares of the country’s largest car #auto #Maruti Suzuki #StockWatch #Tata Motors
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Asia shares at 16-month high, US jobs data key
Tokyo: Asian shares ticked up to a 16-month high on Friday following modest overnight gains in global equities as investors watched progress in US budget talks and awaited U.S. nonfarm payrolls data later in the day. The euro hovered near a one-week low against the dollar, having fallen after the European #Asian shares #MarketWatch #US jobs
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Cipla shares gains on partner’s South Africa contract win
Shares in drugmaker Cipla rose 1.4 percent after Cipla Medpro won a share in South Africa's $667 million contract, as it supplies the bulk of Cipla Medpro's drugs. Dealers said the company may garner revenues of $30-40 million from Cipla Medpro's contract. South Africa on Thursday awarded a $667 million contract to #Cipla #Cipla Medpro #Drugs #Stock market
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Bajaj Finance seeks Sebi approval for Rs 750 cr rights issue
Mumbai: Non-banking finance company Bajaj Finance has sought market regulator Sebi's approval to raise up to Rs 750 crore through a rights issue. Issue of equity shares on a rights basis to its existing equity shareholders would aggregate up to Rs 750 crore, draft prospectus filed by Bajaj Finance with Sebi #Bajaj Finserve #CorporateStrategy #Rights Issue
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REC plans to raise up to Rs 5,000 cr via tax-free bonds
Mumbai: State-run Rural Electrification Corporation (REC) is planning to raise up to Rs 5,000 crore by through tax-free bonds in the current fiscal. "...Company (REC) shall make public issue(s) of bonds for an amount aggregating up to Rs 5,000 crore in one or multiple tranches in the fiscal 2013," said #Bonds #CompnayWatch #Rural Electrification Corporation
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Reliance Money targets gold market with new plan
Mumbai: Targeting an estimated Rs two lakh crore unorganised gold market in the country, Reliance Money today launched a new daily gold accumulation plan under which customers can invest as low as Rs 1,000 per month. Under the plan, named Reliance My Gold Plan, the customer can invest a minimum of #Anil Ambani #CorporateStrategy #Gold #Reliance Gold
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Foreign interest in Indian govt bonds to pick up: Barclays
Foreign interest in Indian government bonds is likely to pick-up toward the end of the year, Barclays Capital said in an email to clients. The increased demand may be driven by expectations of monetary easing in the first quarter of 2013, "probable" open market bond purchases by RBI due to tight #Barclays Capital #Bonds #ExpertView #Government #India
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MphasiS tanks 6% as parent co HP takes $8.8 bn hit
Mumbai: Shares of MphasiS today tanked more than six percent in morning trade on bourses after its parent company HP took a $8.8 billion write-down linked to Autonomy Corp business, saying there were "accounting improprieties" before its 2011 acquisition of the company. HP yesterday said that it has taken a $8.8 #BSE #HP #Mphasis #NSE #StockWatch #Write-down
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Be selective in Indian consumer goods, warns Goldman Sachs
India's consumer good sector is on track to deliver sales and operating profit at an average compound annual growth rate of 13 percent between 2011 to 2025, Goldman Sachs said in a note dated on Tuesday. Goldman said that the estimates were based on assuming per capita consumption in India would #Asian Paints #ExpertView #Goldman Sachs #Jubilant FoodWorks
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Reliance Capital up 2% after reports of stake sale in insurance biz
Shares in Reliance Capital gained around 1.8 percent after its CEO said that the financial services firm is in talks to sell a 26 percent stake in its general insurance arm to a strategic foreign partner, in an interview with The Economic Times. A spokesman confirmed the comments made by the #General Insurance #Reliance Capital #stake sale #StockWatch
