Investing News - Page 8

Tech Mahindra plunges 3% on British Telecom stake sale

Shares of IT major Tech Mahindra plunges 3.41 percent after British Telecommunications said that it may sell part of its stake in the company through an open market transaction to raise an estimated Rs 500 crore.

'Investors staying away from heavy asset, debt-burdened cos'

The asset light, cash generating companies are trading in high multiples. Banks stocks itself have a large dispersion while high leverage, asset heavy companies are trading at lower PE, said ICICI Securities today.

JLL's investment arm achieves first close of maiden realty fund at Rs 101 cr

The objective of the fund is to invest in the residential sector in prominent location across seven cities in India, namely Delhi NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Chennai, Kolkata, Hyderabad and Pune.

BSE to remain open on 8 Sep, Saturday, for 1 hour

The opening on Saturday comes as the BSE is testing its disaster recovery software, allowing live trading during the time frame

KKR plans first India-specific debt fund of $1 bn

Global buyout fund Kohlberg Kravis Roberts (KKR) is in early stage discussions to launch a debt fund to invest in India that could raise between $750 million to $1 billion.

FM asks banks to cut EMIs, but do lower EMIs always work?

The Finance Minister has advised banks to reduce EMIs for consumer goods loans but does it really make sense to go in for a loan with a longer tenure and lower EMIs?

Reliance Capital completes 26% stake sale to Nippon Life

Reliance Capital said it has completed sale of 26 percent stake in its asset management and mutual fund unit to Japanese financial services giant Nippon Life for Rs 1,450 crore.

Lupin, UltraTech to replace SAIL, Sterlite in Nifty

Lupin and UltraTech Cement will be the new additions to the Nifty, the exchange said on its web site on Thursday.

Ashok Buildcon surges 11% after SBI, Macquarie agree to invest in co

State Bank of India, and Australia's Macquarie Group , have agreed to invest $150 million in a unit of infrastructure firm Ashoka Buildcon , sending the road builder's shares up by as much as 11.3 percent in early trade.

NIIT Tech drops 10 percent after block sale of shares

Shares of NIIT Technologies fell as much as 10.4 percent after the BSE showed 3.92 million shares, or 6.53 percent of the market capitalisation, changed hands at 267 rupees a share via block deals.

IOB Q1 net up 14% to Rs 233 crore

Indian Overseas Bank (IOB) reported 13.5 percent increase in net profit at Rs 233.43 crore for the first quarter ended 30 June, 2012.

IRB Infra surges 6% post strong Q1 earnings

Shares in IRB Infrastructure Developers surged 5.8 percent after the Indian construction firm beat estimates on Friday.

Oil marketing shares down as hopes of price hike recede

These companies declare profits on the basis of promises of debtors rather than the actual receipt of cash in the bank account.

MMTC to raise investment in JV with Swiss firm

MMTC is into trading of various commodities including gold, iron ore and pulses.

Sebi has 300 unsettled applications pending

Market-regulator Sebi has 300 applications pending with it that need to be settled with 'consent'.

Tata BP Solar becomes wholly-owned subsidiary of Tata Power

Tata Power made Tata BP Solar India its wholly-owned subsidiary after acquiring of 51 percent stake held by the joint venture partner BP.

Sensex to gain 10 percent by year-end: Poll

A poll of economists suggests that Sensex is set to gain ten percent by the end of the year aided by a slump in oil prices and foreign investment.

First year premium of life insurance firms up 1.4%

The gross premium of the non-life insurance companies rose 21.83 percent during April-May to Rs 4,880.81 crore from Rs 4,005.96 crore. <br /><br />

Rupee at 57: Gold recovers from 1-week low

Gold rose to 29,965 on Friday as the rupee took a lifetime hit to 57.30. This, after the government announced that the rains will be normal this year which will drive rural demand.

Brent below $90, on low demand from US, China

Brent hit below $90 which was its biggest weekly loss in about a year as US and China muddied the outlook for demand. In addition, the shrinking business activity from the eurozone added to the gloom.

Moody's to downgrade Tata Power on bank debt

Citing bank debt related to a power project, Moody's might downgrade Tata Power ratings. The rating action reflects material covenant breaches on bank debt associated with 4,000 MW Mundra UMPP.

Educomp surges 8% as co raises $155 mn

Shares of Educomp solutions, web-learning solutions provider surged as high as 8.4% after the company announced that it raised $155 mn via external borrowings.

IOC, HPCL gain following slump in crude prices

State-run oil firms including BPCL, HPCL and IOC gained following the 25.21 percent slump in crude prices.

Banks and realty stocks tank after rates remain unchanged

After shooting up on hopes of a rate cut, the rate-sensitive banks and realty stocks fell 3 percent after RBI's kept the rates unchanged.

Fame, Inox jump 5 percent ahead of merger

Inox Leisure which owns Inox multiplex and Fame is considering a merger of both the chains. The stock rose as much as 5 percent after the announcement.

Gold just above Rs 30,000 as demand slackens

Gold hovers around Rs 30,000 as demand in India remains sluggish due to lack of weddings and an off-festival season.

L&T gains as Mitsubishi eyes stake in co

Infrastructure major L&T gained as much as 2.60 percent on BSE after Japan's Mitsubishi Heavy Industries expressed interest in buying stake the in company.

Cairn Energy buys UK co Nautical Petroleum for $644 million

British oil firm Cairn Energy bought Nautical Petroleum for 414 million pounds. Buying Nautical will raise Cairn's exposure to the Catcher oil field, one of the biggest discoveries in Britain.

Now insurance for harvest too?

HDFC Ergo will pilot its weather-based crop insurance scheme in Maharashtra for Kharif crops this year. The scheme will offer insurance cover to the farmers against losses caused by aberrant weather conditions during the crop cycle.

Ad firm Komli Media gets Rs 217 cr funding for expansion

Media technology firm Komli Media raised $39 million from Norwest Partners along with Helion and Draper Fisher in its second round of funding.