Wipro’s demerger plan gets Karnataka HC’s nod; stock down
Posted on March 22, 2013 by administrator
Soaps-to-IT services conglomerate Wipro said Karnataka High Court has approved its demerger scheme aimed at hiving-off non-IT businesses into a separated unlisted company and focus exclusively on information technology. In a filing to the Bombay Stock Exchange on March 21, Wipro said, “Hon’ble High Court of Karnataka has approved the Scheme of Arrangement for demerger [...]
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L&T Construction bags orders worth Rs 2080 cr
Posted on March 21, 2013 by administrator
Larsen & Toubro Ltd, the technology, engineering, construction and manufacturing company, said that its arm L&T Construction has bagged orders worth Rs 2080 crore across different business segments. These orders encompass order for Building &Factories Business worth 1385 crores, Power Transmission and Distribution Business for worth 585 core, including a major order from the Bangalore [...]
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Stock Market Profits Calls & Tips
Posted on March 20, 2013 by administrator
BTST/STBT TIPS 20TH MAR 2013 AMBUJA CEMENT FUT CMP–177.7 TAKE FULL PROFTIS ON OUR STBT CALL GIVEN AT 179.55 LEVELS. EQUITY FUTURE TRADING TIPS 20TH MAR 2013 IFCI CMP–27.65 TAKE FUT PROFITS ON OUR SHORT CALL GIVEN AT 28 LEVELS. EQUITY FUTURE TRADING TIPS 20TH MAR 2013 AMBUJA CEMENT FUT CMP–178.1 TAKE FULL PROFITS ON [...]
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JSW Energy commissions unit VII of 135 MW power plant
Posted on March 18, 2013 by administrator
Mumbai-based JSW Energy Ltd. today said that Unit VII of 135 MW of the 8×135 MW power project at Barmer, Rajasthan has been successfully commissioned. In addition, the Barmer-based project has also achieved Commercial Operation Date (COD) from March 16, 2013, the JSW Group’s company said in a filing to the Bombay Stock Exchange. With [...]
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Gold reverses previous day’s gains, falls on upbeat US data, strong dollar
Posted on March 14, 2013 by administrator
Gold prices reversed its previous day’s gains, falling by 0.09 per cent on Thursday at the domestic markets as robust US economic data raised concerns that the Fed may scale back its asset purchase program, dimming the appeal of the bullion, which is a hedge against the inflationary risk of monetary stimulus. US retail sales [...]
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Tata Steel’s Canadian Deal Positive: Deutsche
Posted on March 13, 2013 by administrator
Tata Steel Ltd shares flat, outperforming the Nifty’s 0.63 percent fall after a unit on Tuesday agreed to buy a 51 percent stake in an iron ore project held by Canada’s Labrador Iron Mines Canada for C$30 million. Deutsche Bank sees the deal as a positive development for Tata Steel. “Apart from gaining access to [...]
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Infosys opens new delivery center to expand presence in Latin America
Posted on March 12, 2013 by administrator
.IT bellwether, Infosys Ltd. has expanded its presence in Latin America with a new delivery center for its business process outsourcing subsidiary, Infosys BPO in San Jose, Costa Rica. More than 100 employees at the center would initially offer key services in the strategic sourcing and procurement area for Proctor & Gamble, the world’s largest [...]
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L&T Shares Recover; World Bank Sanctions Weigh
Posted on March 11, 2013 by administrator
MUMBAI - Shares in Larsen & Toubro Ltd recovered and were trading around 1 percent higher after falling as much as 2.7 percent in morning trade as the World Bank barred the company from participating in any of the organization’s projects for six months. L&T said on Saturday the World Bank sanctions were “not expected to have [...]
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Gold Continues Downward Journey, Falls On Weak Demand Outlook
Posted on March 6, 2013 by administrator
Gold prices continued its downward journey, falling for the third day on Wednesday at the domestic markets in the midst of subdued physical demand for the bullion in the domestic spot market. Gold futures for April 2013 contract, at MCX, were trading at Rs. 29,558 per 10 grams, down by 0.04 per cent after opening [...]
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Copper falls on weak global economic data and rising stockpiles
Posted on March 1, 2013 by administrator
Copper prices fell by 0.46 per cent on Friday at the domestic markets after China Logistics Information Center said that Chinese Manufacturing PMI fell to an annual rate of 50.10, from 50.40 in the preceding month signaling weak manufacturing activity in China, world’s largest consumer of metal which reduced the demand outlook for the metal. [...]
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