Investing News - Page 6

GSK gets Sebi nod for open offer to Indian subsidiary

UK-based GlaxoSmithKline (GSK) has received market regulator Sebi's approval for its over Rs 5,200 crore open offer for Indian subsidiary GlaxoSmithKline Consumer Healthcare.

MFs line up schemes on RGESS offerings to attract first-time investors

Fund houses have begun lining up mutual fund schemes focused on the government's newly proposed Rajiv Gandhi Equity Savings scheme (RGESS), which aims to attract first-time small investors into the capital market by offering them tax benefits.

LIC buys half of Hind Copper shares on offer

State-run LIC picked up nearly half of Hindustan Copper's shares put on offer for sale in November last year, stock exchange data revealed today.

Tata Motors up 4% after CLSA, Credit Suisse upgrades

Tata Motors rose as much as 3.7 percent to a record high on Wednesday after Credit Suisse and CLSA upgraded their ratings on the stock, citing expectations for improving sales.

Govt panel report suggests listing of 50 PSUs in 5 yrs

The government should look at listing 50 state-owned companies in the next five years, a report by a Planning Commission committee on reforms in CPSEs has said.

BofA Merrill upgrades PSU banks on rate cut, loan recoveries

Bank of America Merrill Lynch upgraded State Bank of India, Bank of Baroda , and Oriental Bank of Commerce to 'buy'.

L&T falls 2% on brokerage downgrades

Larsen & Toubro shares were down 1.7 percent after Citigroup and Barclays downgraded the engineering conglomerate on concerns over order cancellations and weak investment cycle.

RBI plan to hike on loan to value may help gold-based firms: Icra

The report noted that the pace of growth of gold loan companies might slow down as they rely more on wholesale funding sources.

Power Grid Corp's outlook negative, says S&P

The outlook for country's biggest transmission utility-Power Grid Corporation-is negative, in line with the country's credit profile, Standard & Poor's Ratings Services said today.

Jet Airways jumps 7% on hopes of deal with Etihad

Shares of Jet Airways today rose by as much as 7 percent amid growing expectations of a possible deal between the airline and United Arab Emirates' Etihad Airways for stake sale.

BofA upgrades Tata Motors on strong JLR sales

Bank of America-Merrill Lynch upgraded Tata Motors to 'buy' from 'neutral' and raises its target price to Rs 360 from Rs 285.

LIC trims stake in Tata Global Beverages to 8%

State-run Life Insurance Corporation (LIC) has reduced its stake in Tata Global Beverages Ltd to little over 7 percent by offloading shares over a period of four months.

Nomura warns about Indian air conditioning sector

Nomura has said it has come away "with extremely negative takeaways" for the Indian heating, ventilation and air conditioning (HVAC) market after meeting with Blue Star's executive in charge of the segment.

Adani Enterprises gains 4% on higher floor price for share sale

Shares is Adani Enterprises gained 4 percent in early trade after its promoters set the floor price for a share sale at Rs 282 per share.

Less than 3 percent file income tax return in India

The finance minister informed the members that in 2011-12, till this time, refund of Rs.70,000 crore was made, which included arrears for the previous years while during the current 2012-13 fiscal refunds to the tune of Rs.57,000 crore have been made.

Coal set to surpass oil as world's top fuel by 2017

Powered by the growth in emerging market giants China and India, coal is set to surpass oil as as the world's top fuel source by around 2017, the International Energy Agency forecast today.

Sun Pharma rises 3% on acquisition of US firm URL Pharma

Shares in Sun Pharmaceutical Industries, India's most valued drugmaker, rose as much as 2.5 percent after its unit agreed to buy the generic drugs business of US-based URL Pharma from Japan's Takeda Pharmaceutical Co.

Bhel gains 3% after CLSA adds stock to Asia portfolio

Shares in Bharat Heavy Electricals Ltd gained 3.3 percent after CLSA added the stock to its Asia ex-Japan long only portfolio with a 3 percent weighting.

IndusInd Bank raises Rs 2,000 cr via QIP issue

The Hinduja Group-promoted IndusInd Bank has raised Rs 2,000 crore through placement of shares with domestic and overseas institutional investors.

Barclays Capital buys 12 lakh shares of Karnataka Bank

Barclays Capital Mauritius today acquired 11.60 lakh shares of private sector lender Karnataka Bank for Rs 22.54 crore.

Sugar stocks slip after UP raises crop prices

Shares in Uttar Pradesh-based sugar companies were trading lower after the state raised the price at which sugar mills buy the new season crop by up to 16 percent to Rs 290 rupees per 100 kg.

Asia shares at 16-month high, US jobs data key

The main board is expected to rise today, but gains will be limited in the absence of game-changing events since the last session as markets await U.S. employment data

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.

Bajaj Finance seeks Sebi approval for Rs 750 cr rights issue

Non-banking finance company Bajaj Finance has sought market regulator Sebi's approval to raise up to Rs 750 crore through a rights issue.

REC plans to raise up to Rs 5,000 cr via tax-free bonds

The power sector lender intends to issue non-convertible bonds of Rs 1,000 each. <br /><br />

Reliance Money targets gold market with new plan

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.

Foreign interest in Indian govt bonds to pick up: Barclays

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 liquidity, overall improvement in market sentiment

MphasiS tanks 6% as parent co HP takes $8.8 bn hit

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.

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.

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