Indian Share Market Tips, News, Information, Articles

LT wins contracts from ONGC

noreply@blogger.com (great) — Wed, 05 Aug 2009 01:12:00 +0000

Larsen and Toubro (LandT) has won two offshore platform contracts worth over Rs 5,300 crore ($1.18 billion) from Oil and Natural Gas Corporation (ONGC (ONGC.NS : 1141.8 -37.5)). The order, the single largest in the Indian hydrocarbons sector.

Hyundai, Samsung and National Projects Construction Corporation were the other bidders for the contracts.

The company secured the turnkey order for the Mumbai High North process platform and living quarters project, with an additional order to build three process gas compression modules in the same complex. The projects have to be completed within three years.

With large exploration and production companies planning big investments in offshore business, the segment offers huge opportunities for engineering and construction companies such as LandT, both domestically and globally.

RIL - RNRL

noreply@blogger.com (great) — Sat, 04 Jul 2009 16:05:00 +0000

A day after RNRL (Anil Ambani) petitioned the Supreme Court seeking modification in the Bombay High Court order, RIL(Mukesh Ambani) moved the apex court challenging the same judgement that asked it to supply 28 MMSCMD gas to RNRL at USD 2.34 per mmbtu. It alleged that the high court erred in deciding the three terms as to quantity, tenure and price of gas supply to power plants of RNRL affiliate.

The High Court on June 15 had asked RIL to honour a 2005 family agreement to supply 28 million cubic meters per day of gas from its Krishna-Godavari basin fields to RNRL at USD 2.34 per mmBtu for 17 years from the date of setting up of the Dadri power plant.

Nilekani resigns

noreply@blogger.com (great) — Fri, 26 Jun 2009 03:28:00 +0000

Infosys Technologies co-chairman Nandan Nilekani resigns to head Indian government's ambitious over Rs 100 core Unique Identification project, reports CNBC TV18. The unique ID card scheme is expected to be in place in a year, says Montek Singh Ahluwalia of the Planning Commission. (The UID Authority of India will be under the aegis of the Planning Commission). As chairman of the body, Nilekani will have Cabinet minister rank and status, he adds. The PM's request to head this unique body is the reason why Nandan has stepped down from the Infosys Board as it is a project of national importance, says S Gopalakrishnan, MD & CEO of Infosys.

Our 100 posts

noreply@blogger.com (great) — Tue, 02 Jun 2009 00:53:00 +0000

Dear Friends,

Thanks for your support. We have crossed posting 100 posts.

We thank you again

RComm to raise funds

noreply@blogger.com (great) — Tue, 02 Jun 2009 00:46:00 +0000

In a bid to participate in the upcoming 3-G and Wimax auctions, India’s second largest telecom service provider, Reliance Communications, on Monday said it intends to issue equity shares to institutional investors to strengthen its financial position.

In a statement to the Bombay Stock Exchange, the company said that it will seek shareholders’ approval to garner funds from qualified institutional investors either through a share sale or an issue of a variety of instruments including fully convertible, partly convertible or non-convertible debentures with warrants or any other security. RComm said the funds would be raised in one or more tranches. The proposed exercise shall not result in increase in the company's paid-up capital by more than 25%.

RComm said the funds might be utilised to finance the company's plans to participate in the upcoming auction of frequency spectrum for 3-G and Wi-Max services.

Australia lifts ban

noreply@blogger.com (great) — Mon, 25 May 2009 03:32:00 +0000

Australia on Monday lifted an eight-month ban on short selling of financial shares in response to reduced market volatility.

The government first announced in September a 30-day ban on covered short selling -- the sale of borrowed stock that a vendor hopes to buy back at a lower price and therefore make a profit -- after U.S. and British regulators also restricted the trading practice, which was blamed for undermining volatile markets.

Naked short selling, where a trader sells stocks without first ensuring that they are available, was banned indefinitely.

Short selling is seen variously as encouraging markets to fall and as a legitimate strategy that ensures an efficient and free market.

Australia's market regulator, Australian Securities and Investments Commission, or ASIC, in November lifted the ban on covered short selling of shares in companies other than banks, property developers and other financial institutions. But new regulations are now imposed on short sellers of non-financial stock aimed at improving transparency.

Stock market bubble in Hong Kong

noreply@blogger.com (great) — Sat, 23 May 2009 12:40:00 +0000

Li Ka-shing, known in the region as Superman because of his investment reputation, says people should be careful about shares at the moment.

Hong Kong is in recession, but the Hang Seng has surged more than 50% since early March as foreign money has come into the stockmarket.

That compares with an overall fall in its value of 48% over the course of 2008.

Wal-Mart in India

noreply@blogger.com (great) — Thu, 21 May 2009 00:39:00 +0000

Wal-Mart, the world’s largest retailer, is set to open its first cash-and-carry centre in India next week.

After years of controversy and opposition from local retailers and politicians, Bharti Wal-Mart, the joint venture between Bharti Enterprises and Wal-Mart, will open its first centre in Amritsar.

The plan is to open 10 more big-box outlets in India over the next two years. However, Indian consumers won’t be able to partake of Wal-Mart’s everyday low prices. Wal-Mart’s debut outlet is a wholesale-only operation that will sell mainly to vegetable vendors, hospitals, hotels and restaurants. The Amritsar outlet won’t even carry the Wal-Mart brand. The company has named its Indian outlets Best Price Modern Wholesale.

Industry analysts expect Wal-Mart, known for squeezing efficiencies out of suppliers and supply chains, to have an impact on India’s $375-billion retail market, which is expected to double by 2015.

In 2006, the government had allowed 51 per cent FDI in single-brand retail, despite stiff opposition from the Left.

Industry players said the new government could allow 100 per cent FDI in single-brand and partial FDI in multi-brand retail.

Corus

noreply@blogger.com (great) — Wed, 13 May 2009 00:33:00 +0000

Tata Steel is re-negotiating the terms of the debt it raised to fund the $12-billion buyout of Anglo-Dutch steelmaker Corus in early 2007.

Officials of Tata Steel UK, a fully-owned subsidiary of the world’s sixth largest steel maker, have held meetings with bankers who helped raise the funds for the Corus acquisition.

Tata Steel has not sought any additional funding or requested a re-scheduling of its debt servicing obligations.

Instead, as part of the fresh terms, the company is voluntarily pre-paying over £200 million of the non-recourse debt as it tries to de-leverage its European operations.

The debt payback would be funded through additional support from Tata Steel Ltd, which continues to have a significant liquidity buffer. Tata Steel UK has appointed Citigroup, Royal Bank of Scotland and Standard Chartered as the coordinating banks to facilitate the process.

The company has informed its lenders that it has taken significant steps to restructure its operations and reduce costs to weather the downturn.

While this would enable the company to emerge stronger with improved profitability in the future, in the near term there could be an adverse impact on its earnings before interest, tax, depreciation and amortization, which could put a stress on its covenant package in the forthcoming quarters.

Tata Steel UK has performed strongly in 2008-09 and has met all its covenant obligations to date and has a strong liquidity position at the yearend, the statement added.

Tata Steel acquired Anglo Dutch steel maker Corus in 2007 for $12 billion.

Shares of Tata Steel closed 1.4 per cent higher at Rs 275.45 on the Bombay Stock Exchange on Tuesday when SENSEX jumped more than 4%.

Ratnagiri board and Reliance Industries

noreply@blogger.com (great) — Mon, 11 May 2009 00:15:00 +0000

Ratnagiri Gas & Power Pvt., which supplies electricity to the western Indian state of Maharashtra, agreed to buy natural gas from an offshore field operated by Reliance Industries Ltd.

Ratnagiri was one of the power and fertilizer companies designated by the government as a priority customer after the Bombay High Court temporarily lifted a ban on the sale of gas from the Reliance field. NTPC Ltd., part-owner of Ratnagiri, and Reliance Natural Resources Ltd. are involved in price-dispute cases with Reliance Industries.

Reliance’s gas supplies will help this plant increase its output and will help boost revenues for promoters NTPC and GAIL India Ltd.

Ratnagiri’s board agreed to buy an initial 2.8 million cubic meters of gas a day from Reliance for the 2,144-megawatt power plant. The quantity may be increased to as much as 8.5 million cubic meters a day by October.

Nano bookings - Relief for Tata Motors

noreply@blogger.com (great) — Tue, 05 May 2009 01:49:00 +0000

Tata Motors had garnered nearly Rs 2,500 crore from 2.03 lakh fully-paid orders for the Tata Nano, a week after the booking process for the car came to a close. The most bookings were received for the top-end model, accounting for half the overall applicants. The Nano is scheduled to hit the roads in July.

The number of fully-paid bookings is, however, far lower than the number of booking forms sold at various centres. According to a company release, a total of 6.10 lakh forms were purchased from these booking centres. 18 crore earned from selling the forms.

As much as 70% of the 2.03 lakh bookings received were financed, while the remaining 30% of the applicants booked in cash by paying virtually the full cost of the vehicle upfront. Around 4,000 cash bookings were made online.

The Nano is priced in the range of Rs 1.34 lakh for the base model going up to Rs 1.85 lakh for the top variant (ex-showroom Mumbai.). The booking amount for the Nano ranged between Rs 95,000 and Rs 1.4 lakh. Ratan Tata of Tata Motors had promised to keep price below Rs. 1 lakh.

The Tata Motors release said that the first 1-lakh allottees from among the applicants would be chosen through a computerized random selection procedure, and allotments made within 60 days of booking closure.

The Nano booking amount comes as a relief to Tata Motors, which posted a loss of Rs 263 crore in Q3 FY09, compared with a profit of Rs 499 crore a year earlier. Sales of commercial vehicles fell 61%, while passenger cars dropped 14% during the period.

DLF posts record decline

noreply@blogger.com (great) — Sun, 03 May 2009 11:17:00 +0000

DLF Ltd, India's biggest developer, a record 93% decline in fourth-quarter profit as demands for home, offices, shops fell following an economic slowdown.

The company said in a release that net income fell to 1.59 billion rupees in the quarter ended on Mar 31, 2009 from 21.80 billion rupees a year ago.

Falling demand in homes, offices, shops are curtailing DLF's ability to start new projects. DLF was the worst performer on BSE Sensex.

The company has lowered home prices for projects in Chennai and Gurgaon to boost flagging demand. DLF gained 38 percent in April as it cut home prices and investors grew optimistic that lower borrowing costs may spur new purchases.

The company plans to exit some businesses, including wind power, to reduce debt and has withdrawn from township projects in Bidadi and Dankuni.

Full-year profit fell 41 percent to 46.3 billion rupees and sales fell 28 percent to 105.4 billion rupees, the company said. The figures include 1.63 billion rupees of losses from non-real estate businesses such as DLF Pramerica Life Insurance Co., hotels and power, DLF said.

Chrysler LLC files for bankruptcy

noreply@blogger.com (great) — Fri, 01 May 2009 15:24:00 +0000

Chrysler LLC heads to U.S. bankruptcy court Friday morning to obtain permission to continue paying employees and meeting customer and dealer obligations against a backdrop of mounting opposition from certain of its lenders.

A group of about 20 lenders that balked at the terms of the government-brokered deal said late Thursday it plans to object to the company's reorganization plan, which will put Chrysler's core assets into a new company owned by its workers, Italian car maker Fiat SpA and the U.S. and Canadian governments.

Chrysler filed for bankruptcy on Thursday in New York and disclosed the plan. The plan, however, requires approval by the U.S. Bankruptcy Court.

The company has been pushing for a prompt hearing, saying in court documents that the proposed transaction is the only means to avoid liquidation of the 83-year-old car maker.

Ahead of Friday morning's hearing, the courtroom of Judge Arthur Gonzalez, who was assigned the case, was filled largely with lawyers and their assistants, with no standing room left an hour before the start time.

On the agenda for Friday's hearing are so-called "first-day motions" that will enable Chrysler to continue operating, such as its right to continue to use its cash management system.

The company has 38,500 hourly and salaried workers in the United States It has 23 manufacturing plants and facilities and 15 parts depots in the there and 3,200 dealers employing 140,000 people.

Global markets surged

noreply@blogger.com (great) — Thu, 30 Apr 2009 15:40:00 +0000

Global stock markets surged on Thursday to their highest levels since January, as some upbeat corporate earnings added to investors' hopes that a stabilization of the ailing world economy may finally be underway.

Asian stocks outside Japan led the way, scaling six-month peaks and markets such as Taiwan recorded their biggest one-day gain in 19 years. Indian markets were closed due to assembly election in Mumbai, India.

Global market sentiment was buoyed after the U.S. Federal Reserve's latest policy statement on Wednesday said the economic outlook was improving while it vowed to keep interest rates at historic lows for longer and retain a super-easy money stance.

The latest U.S. data showed an unexpected fall in new jobless claims, although consumer spending also fell for the first time in three months.

Banking and insurance stocks gained, benefiting from positive sector research that forecast most UK banks to emerge from 2009 with a profit. Barclays shares surged 11 percent and Royal Bank of Scotland rose 16 percent.

But the shift in investment gears from super-safe assets into relatively riskier, higher-yielding assets has been gaining traction through the second-quarter so far.

"There is a feeling that the Armageddon story is off, albeit it at the price of a generational collapse in fiscal prudence," Alan Ruskin, economist at RBS said in a note to clients.

Apart from the surge in equity markets, the rise in risk appetite could be seen across global prices.

The dollar slid as investors shifted funds into higher-yielding currencies though it pared losses after hitting a three week low against a basket of currencies.

Oil prices rose towards $52 a barrel a two-week high in response to a more optimistic view on the world economy.

Hero Motors ties up

noreply@blogger.com (great) — Wed, 29 Apr 2009 00:57:00 +0000

Hero Motors on Tuesday signed a MoU with BRP-Powertrain for supply of automotive transmissions worth $250 million over the next five years.

The move is viewed as an effort to strengthen its position as a global manufacturing base for BRP-Powertrain, "In the recessionary conditions, big companies are outsourcing work which they would not have done otherwise. We are poised to grow through this development," says Pankaj Munjal, managing director, Hero Motors, adding that the transmission would be manufactured at the company's unit in Ghaziabad that has an installed capacity of one lakh units.

In the last two years, Hero Motors had already invested Rs 45 crore along with BRP-Powertrain for setting up a base in the company's Ghaziabad unit for making automotive transmissions.

Hero Group would simultaneously invest Rs 100 crore in the next one year to partly scale up the transmission producing capacity at Ghaziabad and to partly augment the manufacturing capacity of automotive discs which it produces through a joint venture with Japanese auto firm Sumitomo.

Anil Ambani

noreply@blogger.com (great) — Sun, 26 Apr 2009 13:25:00 +0000

City police investigating the case of alleged sabotage attempt to the chopper of Anil Ambani, chairman of Anil Dhirubhai Ambani Group (ADAG), are likely to record his statement.

"We are investigating the case from all possible angles. Whoever involved in the matter directly or indirectly, we will question them. Since it was alleged that the sabotage attempt was made to harm Ambani, it becomes essential to record his statement as well during the course of investigation," a Crime Branch official said.

Police so far have questioned four non-technical staff of Air Works, which maintains the chopper belonging Ambani, after pebbles and mud were found in fuel tank of the chopper on April 23.

The 13-seater Bell 412 helicopter was parked at the airport for maintenance work.

Anil Ambani along with his nine top officials of the group had reportedly planned to fly on Friday in the helicopter to the company's Knowledge Centre in neighbouring Navi Mumbai.

"It is said that there is a dispute between the management and its employees of Air Works which maintains the chopper. Some more employees will be questioned before concluding the investigations into the case," the officer added.

Over 50 non-technical helpers of Air Works went on dharna in front of the management office on Saturday after the company advised them to remain off duty till the investigation into the case is over.

The employees, who protested against the company, have alleged that the company is looking for an excuse to squeeze the staff size.

Source: DNA, Mumbai

ICICI Bank: Q4 Result

noreply@blogger.com (great) — Sun, 26 Apr 2009 00:44:00 +0000

Net profit of ICICI Bank fell around 35% during the fourth quarter of 2008-2009 to Rs. 744 crore against Rs. 1150 crore in the corresponding period last year. The bank has witnessed the sharpest decline in net profit in over six years.

However, the bank has declared dividend of Rs. 11 per share.

In view of rising bad loans, ICICI Bank has scaled down its unsecured lending and would focus on enhancing the net interest income.

The bank expects a 5-10% loan growth in retail and corporate portfolios in the current fiscal. As on Mar 31, 2009, the bank's NPA ratio was 1.96%. The bank's total loan book has share of 49% of retail, 37% of corporate, 10% of rural and 4% SME.

The bank's total income for the financial year 2008-2009 went down around 2% to Rs. 38,696 crore, against Rs. 39,599 crore in previous year.

The bank finally announced the top-level changes in the senior level positions on Saturday.

With effective from May 1 ICICI Bank executive director V Vaidyanathan will be sifted as MD and CEO of ICICI Life in place of Shikha Sharma, and Sandeep Bakhshi, MD and CEO, ICICI Lombard General Insurance, will move to ICICI Bank as executive director (retail and rural banking). Bhargav Dasgupta, executive director, ICICI Life has been appointed as MD and CEO of ICCI General Insurance.

Apple Inc shines

noreply@blogger.com (great) — Thu, 23 Apr 2009 17:32:00 +0000

Apple Inc.'s second quarter net income of $1.21 billion, or $1.33 a share, compared to $1.05 billion, or $1.16 a share in the same period last year.

Apple Inc posted revenue of $8.16 billion, up from $7.51 billion in the year-ago quarter.

Apple sold 2.22 million Macintosh computers during the quarter, representing a three percent unit decline from the year-ago quarter. The company sold 11.01 million iPods during the quarter, representing three percent unit growth over the year-ago quarter; iPhone units sold were 3.79 million, a 123 percent unit growth over the year-ago quarter.

Analysts were expecting, on average, earnings of $1.09 a share on $8 billion in revenue.

"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history," said Peter Oppenheimer, Apple's CFO. "Apple's financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet. Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about $7.7 billion to $7.9 billion and we expect diluted earnings per share in the range of about $.95 to $1.00."

Looking ahead, the company expects third quarter earnings of 95 cents to $1 a share on revenue of $7.7 billion to $7.9 billion.

F & O Contract

noreply@blogger.com (great) — Wed, 22 Apr 2009 04:28:00 +0000

From next F&O contracts 50 scrips are discontinued (Effective from May 4, 2009).
The list of these 50 stocks include:
------------------------------------------
1. 3IINFOTECH [3i Infotech Limited]
2. ALOKTEXT [Alok Industries Limited]
3. AMTEKAUTO [Amtek Auto Ltd]
4. APTECHT [Aptech Limited]
5. ARVIND [Arvind Limited]
6. BALAJITELE [Balaji Telefilms Ltd.]
7. BALLARPUR [Ballarpur Industries Limited]
8. BATAINDIA [Bata India Ltd]
9. BIRLACORPN [Birla Corporation Ltd]
10. BOMDYEING [Bombay Dyeing & Mfg Co. Ltd]
11. CENTRALBK [Central Bank of India]
12. DCB [Development Credit Bank Limited]
13. EDELWEISS [Edelweiss Capital Limited]
14. ESCORTS [Escorts Ltd]
15. EVERONN [Everonn Systems India Limited]
16. GDL [Gateway Distriparks Limited]
17. GITANJALI [Gitanjali Gems Limited]
18. GNFC [Gujarat Narmada Valley Fertilizer Co. Ltd.]
19. GUJALKALI [Gujarat Alkalies and Chemicals Ltd.]
20. HAVELLS [Havells India Limited]
21. HCL-INSYS [HCL Infosystems Ltd]
22. HINDOILEXP [Hindustan Oil Exploration Co. Ltd]
23. IRB [IRB Infrastructure Developers Limited]
24. JETAIRWAYS [Jet Airways (India) Ltd.]
25. JSL [JSL Limited]
26. KESORAMIND Kesoram Industries Ltd.]
27. KSK [KSK Energy Ventures Limited]
28. KTKBANK [The Karnataka Bank Limited]
29. LAXMIMACH [Lakshmi Machine Works Ltd.]
30. MAHLIFE [Mahindra Lifespace Developers Limited]
31. MAHSEAMLES [Maharashtra Seamless Ltd]
32. MINDTREE [MindTree Limited]
33. MONNETISPA [Monnet Ispat Ltd]
34. MRF [MRF Ltd.]
35. NBVENTURES [Nava Bharat Ventures Limited]
36. NDTV [New Delhi Television Limited]
37. NETWORK18 [Network 18 Fincap Limited]
38. NIITLTD [NIIT Limited]
39. PENINLAND [Peninsula Land Limited]
40. RAJESHEXPO [Rajesh Exports Ltd.]
41. RIIL [Reliance Industrial Infrastructure Limited
42. SKUMARSYNF [S. Kumars Nationwide Ltd]
43. SREINTFIN [SREI Infrastructure Finance Limited]
44. SRF [SRF Ltd.]
45. STAR [Strides Arcolab Limited]
46. THERMAX [Thermax Ltd]
47. TORNTPOWER [Torrent Power Limited]
48. TVSMOTOR [TVS Motor Company Limited]
49. UTVSOF [UTV Software Communications Limited]
50. WOCKPHARMA [Wockhardt Limited]
------------------------------------------

ICICI Bank: Top Management changes

noreply@blogger.com (great) — Sat, 18 Apr 2009 18:32:00 +0000

The country's largest private-sector, ICICI Bank, is in for a major top-management shake-up with two business heads private equity arm's Renuka Ramnath and life insurance unit's Shikha Sharma likely to put in their papers soon.

Sharma is reportedly looking to join private-sector lender Axis Bank as its chief, while Ramnath could look at starting her own private equity venture. The board of Axis Bank, which is meeting on Apr 20, may announce the name of the new chief executive officer (CEO) as the current chairman and managing director PJ Nayak's tenure is coming to an end in June.

Ramnath, ICICI Ventures' managing director and CEO, is believed to have expressed her intention to quit and might submit her resignation to the company's board at a meeting to be held Apr 25.

These developments come days ahead of Chanda Kochhar taking over as CEO and MD of ICICI Bank on May 1 from K V Kamath, who would then assume the role of a non-executive chairman.

Import duty on raw sugar

noreply@blogger.com (great) — Thu, 16 Apr 2009 03:28:00 +0000

The government today, 13 April 2009 scrapped import duty on raw and refined sugar primarily to stabilise sugar prices which zoomed to a three-year high. Currently, refined sugar attracts 60% customs duty.

After this move there will be no export obligation, which is mandatory in case the sweetener is brought to the country under advance licence scheme.

Commerce Secretary G K Pillai said the decision has been taken for abolition of duty on import of both raw and refined sugar adding that the Election Commission's clearance has already been obtained.

Mr. Pilai also said the notification of abolition of customs duty on sugar would soon be published by the finance ministry.

The Cabinet on 9 April 2009 had decided to allow public sector trading firms MMTC, STC and PEC, and agri cooperative Nafed to import 10 lakh tonnes of refined sugar at zero duty by August 2009.

Tata Power & Rpower

noreply@blogger.com (great) — Wed, 15 Apr 2009 03:35:00 +0000

The Delhi High Court on Monday dismissed Tata Power's petition challenging the government's decision to allow Reliance Power to divert coal from the captive mines of Sasan Ultra Mega Power Project (UMPP) for use in other projects, but the Tatas decided to appeal. Notwithstanding the decision, Tata Power said it would now approach the Supreme Court on the issue of diversion of coal meant for one project to other power plants.

Tata Power, which was one of the bidders for the Sasan project, had moved the High Court in the first week of January, terming the government's decision "arbitrary" and "illegal", and requested the government be directed to produce all records along with the Letter of Intent issued to RPower on August 1, 2007, for the Sasan UMPP. The government countered the writ petition saying Tata Power had suppressed material facts and all bidders including Tata Power were aware of surplus coal and the provisions for its utilisation. The decision of the High Court upholds government's stand that Tata Power has no legal right to file the petition since it withdrew from Sasan UMPP's tender process.

Reliance Power officials said the decision of the High Court would pave the way for the company to use surplus coal from the mines of Sasan for its 4,000-megawatt Chitrangi power project in Madhya Pradesh. Reliance Power has access to 2 billion tonnes of coal reserves in the coal mines allotted to it for Sasan and Tilaiya ultra mega power projects.

RIIL - RIL merger was a rumor

noreply@blogger.com (great) — Mon, 13 Apr 2009 01:23:00 +0000

In the last week market buzz indicated that RIIL and RIL may merge in short future.

On Sunday, Reliance Industrial Infrastructure Ltd(RIIL) announced that there are no plans to merge with Reliance Industries or any other company.

But during last 7 sessions, share price of RIIL surged to 819.50 on Apr 09, 2009 (last trading session), gaining 189% from 283.75 on Mar 30, 2009.

The company, the spokesperson said, has already communicated its concern to the stock exchanges and the Sebi.

The news were published by some newspaper which misled investors and may lose huge money now.

News in media are used for misguiding mass and thus related persons / companies earn huge profits at cost of individual investors' losses.

US Stocks: steepest jump since 1933

noreply@blogger.com (great) — Sun, 12 Apr 2009 04:37:00 +0000

US stocks rose for a fifth week, resulting in steepest since 1933.

Wells Fargo & Co. rose 20%, after reporting record first-quarter profit. Lincoln National Corp. and Principal Financial Group Inc. jumped at least 37 percent as the Treasury considered bailouts for life insurers.

The S&P 500 has rebounded off the 12-year low reached a month ago as Citigroup Inc., Bank of America and JPMorgan said they made money at the start of 2009

Suzlon Energy

noreply@blogger.com (great) — Sat, 11 Apr 2009 17:14:00 +0000

Suzlon Energy, India's biggest maker of wind-turbine generator, expected to return to profit in the last quarter of 2008-2009.

Ahmedabad-based Suzlon Energy posted a loss of Rs. 589.70 million in quarter ended on Dec 31, 2009 as the company replaced faulty blades and value of orders declined. A recovery in oil price may may help increase sales at the company as countries consider new energy options.

In the quarter ended on Mar 31, 2009, the company signed more than 300 megawatts of orders from Australia and China.

Suzlon's share have risen 13% in this week, extending the gains for a fourth week. The stock lost 84% of its value in 2008.