Posts filed under 'Buzzing News'
Booming economy, growing income levels and increased spending trends and lifestyles are all very much visible in India. Needless to say both Domestic and International corporates are very much serious about India. Sectors like the Retail, Telecom and Media & Entertainment will be the first picks considering they are more close to the public compared to others.
Latest news from a business television channel, according to its sources, is that Walt Disney is looking for increasing its presence in India. Walt Disney already has a stake of about 14% in UTV, a well known media house in India and increasing this stake would be logically an easy step. Walt Disney already has bough Hungama TV from UTV sometime back.
With this news, the Indian Media section is all set to get an additional attention.
November 7th, 2007
Rains few days back and now floods. Almost all parts of the country are witnessing the wrath of natural calamities one way or the other. However, the Indian stock markets seems to be busy in its own way. After the choppy trades following global factors and today with the possible rupee moving towards good and ECB norm announcement today, the markets closed in the green. The Sensex managing to stay in the green above the 15K mark.
Of the many listed companies that are dependent of agriculture or agri-related inputs, Balrampur Chini is the one of the first to come out and tell the status of its business will be impact due to the recent natural calamities. The company seems to have told a television channel that the sugar cane crop in Uttar Pradesh is okay and that their production would not be hit, at least, at the moment.
August 8th, 2007
NSE Press Release
The National Stock Exchange of India (NSE) today commenced derivatives trading in two new indices viz. Nifty Junior and CNX100. NSE now has an array of five indices and 186 single stock derivatives to offer for trading to the investors.
Nifty Junior derivatives has CNX Nifty Junior index as its underlying. NIFTY Junior is an index comprising of the most liquid securities after the NIFTY 50. The underlying of CNX 100 index derivative is S&P CNX100. This index combines the Nifty 50 and the CNX Nifty Junior stocks to track the behavior of the combined portfolio of the two indices.
In recent times, the market has shown a trend of getting broad based. Currently non-Nifty securities contribute more than 60% of the total market turnover in equities market. Trading in Nifty Junior and CNX100 Futures & Options would enable the investor to take a view on companies which are fast growing, dynamic and highly competitive. It would help them to take an exposure to this dynamic pack of companies. The introduction of these new index derivatives would give more flexibility to the investors and help them in taking wealth maximizing decisions more efficiently.
To encourage active participation during the introduction phase, the Exchange has exempted the transaction charges on turnover above Rs.10 Crores in NIFTY Junior and above Rs.10 Crores in CNX100 per trading member per day in the Futures sub – segment. No transaction charge will be levied on trades done in NIFTY Junior and CNX 100 in the Options sub-segment.
There has been active and wide spread participation in trading above indices today at NSE. More than 200 members participated in trading on the first day of trading today.
June 1st, 2007
A leading business media says that Ranbaxy opts out of Merck’s Generics business bidding. Ranbaxy is last Indian company in the race to pull out of the race. It is believed that the reason for opting out of the race, as per the media channel, is that the valuations have stretched a bit. Earlier Dr. Reddy’s opted to come out of the bidding.
Ranbaxy Laboratories Ltd opened at 318.90 and is currently trading at 324.00 (+2.22%)
March 20th, 2007
Most corporates began to tell their Q4 Advance Income Tax numbers. Some numbers as reported by leading business media is as follows:
Tata Sons: Rs 225 crore
Bharat Petroleum Corporation Ltd (BPCL): Rs 275 crore
Central Bank of India: Rs 150 crore
New India Insurance: Rs 159 crore
Bank of Baroda: Rs 50 crore
Tisco: Rs 350 crore
State Bank of India (SBI): Rs 690 crore
Hindalco: Rs 265 crore
Ultratech Cement: Rs 110 crore
Reliance Industries: Rs 118 crore
Indian Oil: Rs 400 crore
It may be recalled that some analysts are of the opinion that the future course of the stock markets that are hit for the last 5 weeks would depend on the advance tax payments made by various companies.
March 18th, 2007
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