Investing News - Page 16

BNP Paribas looks to buy out India institutional broking partner

French lender BNP Paribas is in advanced talks to buy out its Indian partner Geojit Financial Services in an institutional broking joint venture.

Anglo American to buy Oppenheimers out of De Beers

Global miner Anglo American is set to take control of De Beers, buying out South Africa's Oppenheimer family in a $5.1 billion deal that ends the dynasty's direct links to the diamond business after almost a century.

MCX volumes to double on metal, energy contracts

However, if the government does not pass the new bill soon then India could lose its price maker position to China, which could open its commodities trade to foreigners faster.

RBI liberalises FDI rules in several key areas

Wooing global investors by easing FDI procedures, the Reserve Bank today said that transfer of shares between Indians and non-residents will not require its permission in several key areas like financial services.

Oil companies gain on bourses after petrol price hike

Oil companies surged by almost 3 percent in early trade on the BSE after petrol prices were hiked by Rs 1.82 per litre from today.

Sun TV up 7% on Q2 earnings, interim dividend

Shares of broadcasting firm Sun TV Network surged by nearly 7 percent in morning trade on the bourses today after the company reported an 8 percent rise in consolidated net profit for the September quarter.

Global indices, oil move up on ECB rate cut, Greece hopes

Global stocks and crude oil rallied on Thursday on rising hopes Greece will abandon plans to hold a referendum over a euro-zone bailout and after the European Central Bank cut interest rates in a surprise move.

Sebi asks MFs to disclose big distributors on websites from Nov 10

The disclosure, which would also be uploaded on the MF industry body AMFI's website, would be mandatory from 10 November.

Crude slides in Asia on strong dollar

Oil prices tumbled in Asian trade today, dragged down by a surging greenback and worries over a European debt rescue plan jeopardised by Greece's decision to hold a referendum, analysts said.

Rupee posts biggest single session fall in 2 weeks

The partially convertible rupee ended at 49.27/28 per dollar, 1.2 percent weaker from its previous close of 48.69/70 making this the biggest single day fall for the unit since October 20.

Japanese intervention in currency markets reaches 10 trn: report

Japan stepped in as the yen repeatedly hit record highs against the dollar, adding to existing concerns that it would hurt the export-reliant economy if the gains were left unchecked.

United Bank of India Q2 net up 13.7 %

United Bank of India today posted 13.7 percent rise in net profit to Rs 124.77 crore for the second quarter.

Bata India Q3 net up 48.81% at Rs 30.42 crore

Footwear and accessories maker Bata India today posted 46.81 percent increase in its net profit for the third quarter ended 30 September, 2011 at Rs 30.42 crore, compared to the same period last fiscal.

Govt invites bids from merchant bankers for managing HAL IPO

The government is considering divestment of a 10 percent stake out of its 100 percent shareholding through the IPO. It may also issue bonus shares before the proposed disinvestment in order to make the shares more affordable to investors.

Top-8 Sensex cos added nearly Rs 86,000 cr in m-cap last week

Eight of the top-10 most valued companies in the BSE Sensex added Rs 85,929 crore to their combined market capitalisation (m-cap) last week, with energy majors RIL and ONGC stealing the show.

Wipro shares up 3 percent on good Q2 numbers

Shares of Wipro shot up by more than 3 percent in early trade on the bourses today after the software exporter reported a consolidated net profit of Rs 1,300.9 crore for the September quarter.

Gold futures slide on weak Asian cues, profit-booking

Gold futures prices fell by 0.40 percent to Rs 27,050 per 10 grams today, tracking a weak trend overseas.

Wipro Q2 numbers beat estimates; net up 1%

Wipro Ltd, India's No 3 software services exporter, on Monday posted a 1 percent rise in quarterly profit, beating street estimates, helped by a weaker rupee and rise in spending on outsourcing by overseas clients.

Revenue dept opposes abolition of STT

The Revenue Department says STT helps keep a tab on investments in markets and track the flow of unaccounted funds

Gold prices at one-month high on EU debt plan

Gold prices rose to their highest in more than a month on Thursday after European leaders agreed on a plan to contain the region's debt crisis, lifting sentiment in the financial markets.

Sesa Goa's Q2 profit dips on foreign exchange losses

Sesa Goa today reported a little over 9 percent plunge in net profit to a meagre Rs 1.28 crore for the second quarter.

Rate-sensitive stocks tumble on RBI policy, banks biggest losers

Market experts said that rate-sensitive stocks declined amid fears that loans, including those for home and auto, may become more expensive after the Reserve Bank has raised key rates for the fifth time this fiscal to tame inflation.

ITC Q2 net up 22% at Rs 1,514 cr

Diversified business firm ITC today posted 21.46 percent rise in net profit at Rs 1,514.31 crore in the second quarter ended 30 September.

NSE to launch SME exchange soon

The National Stock Exchange (NSE) plans to operationalise the proposed SME Exchange in the next few months, after getting the approval from the regulator last week.

DLF sheds 4% on SEBI probe order

Shares of DLF fell by over 4 percent on the bourses today after market regulator Sebi said it will probe allegations by a Delhi-based businessman that he was duped of Rs 34 crore by the realty major and Sudipti Estates.

Cairn India down nearly 4% as profit halves to Rs 763cr

The company's shares got off to a weak start on the BSE and fell by 3.7 percent to a low of Rs 283. A similar trend was witnessed on the NSE, where the stock lost 3.64 per cent to Rs 282.85.

Rupee recovers from one-week low on positve market cues

The rupee rose in early morning trades on Wednesday, recovering from the one-week low reached in the previous session, lifted by gains in domestic equities and Asian currencies.