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Showing posts from August, 2011

The ministry knows the value of the BHEL stock. It also knows the market mood !

BHEL disinvestment to depend on market sentiment: Patel

NEW DELHI, AUG 31:  Timing for the BHEL follow-on public offer will depend on the market conditions and the FPO may even be deferred. "The timing will have to be seen, depending on market conditions. If markets are where they are today, certainly we can ask the Disinvestment Department to defer it," Heavy Industries and Public Enterprises Minister Mr Praful Patel said.The Cabinet Committee on Economic Affairs (CCEA) yesterday approved five per cent FPO in the power-equipment major.The Department of Disinvestment (DoD) has already appointed four merchant bankers for disinvestment of BHEL, in which the government holds 67.72 per cent stake.On the basis of the stock price yesterday, the Navratna PSU is valued at Rs 86,532 crore and the government may rake in about Rs 4,300 crore by offloading five per cent of its stake through the FPO.Mr Patel said the disinves…

Overall market trend is still down: Rajat Bose Bose, in an interview with ET Now talks about his
outlook for Nifty.What do you make out of this particular aspect where the discount is
just widening right now, more leverage positions on the short side
vis-a-vis also what we are seeing on the Bank Nifty which has started
moving lower...Bank Nifty is still about 0.2% higher from yesterday's close whereas
the Nifty Futures has already started moving down but the fact that
discount is increasing means that fresh short positions are being
created and this would also get testified if you look at the option
chain of the Nifty Futures.

Recession 2011: 2011 could be worse for India as US recession looms large BureauAug 8, 2011, 08.29am IST Tags: US recession|US debt limit NEW DELHI: India weathered the 2008 crisis well, but there are fears that this time round the country is not even ready for a crisis of much lesser magnitude, let alone a full-blown debt default in Europe or a possible US recession. Weak finances, persistently high inflation and policy inertia have considerably weakened the government's position today.

LACS launches Android tablet at Rs 6,250

PTI Aug 19, 2011, 06.21pm IST
standard chartered|LACS
NEW DELHI: Bangalore-based Lakshmi Access Communications Systems today
unveiled tablets built on Android platform in the price range of Rs
6,250 to Rs 35,000."The base price for the tablet is USD 99 but with taxes it goes up to
Rs 6,250," Lakshmi Access Communications Systems (LACS) MD Mahendra
Kumar D Jain said.The tablets are available in 7-, 8- and 10-inch model in four product
category namely Pepper, Tamarind, Mirchi and Paprika.Pepper, priced at Rs 6,250, is built on Android 2.2 and has 800 Mhz
Via processor. It has 4 GB in-built memory, expandable up to 16 GB and
supports 3G dongles for connectivity. Each of the tablet will have
external keyboard and USB port connectivity option.

Black money in Swiss banks mainly from India: Julian Assange money in Swiss banks mainly from India: Julian Assange
ET Bureau Apr 27, 2011, 03.43am IST
NEW DELHI: WikiLeaks founder Julian Assange on Tuesday said there was
more Indian money in Swiss banks than any other nationality, sparking
off renewed demands from the Opposition for disclosure of the names of
account holders and bringing back black money."Yes, there are Indian names in the list," Assange told a television channel.Assange disclosed that he was being offered a swap deal for handing
over the details of Swiss banks and their secret account holders list.
He said WikiLeaks had an offer through a third party that if it
returned the data, then whistleblower Judith Elmer would be set free.
He revealed this when asked when the information will come out as
peopple across India have been waiting to know."Well, let me tell you what has happened in…

Sensex hits 1-1/2-year low- buy good stocks now Market / 14:21 , Aug 26, 2011Key benchmark indices extended losses to hit 1-1/2-year lows in
mid-afternoon trade as heavy selling by foreign funds this month
weighed on sentiment. Weak global shares also weighed on sentiment.
The barometer index BSE Sensex fell below the psychological 16,000
mark. Index heavyweights Reliance Industries dropped. The market
breadth was weak. The Sensex was down 149.23 points or 0.93%, off
about 260 points from the day's high and up close to 40 points from
the day's low.NTPC and Jaiprakash Associates hit 52-week lows. Metal stocks declined
on worries the global economic slowdown may crimp demand. Steel giant
Tata Steel, JSW Steel and Sterlite Industries hit 52-week lows. Realty
stocks fell on worries higher interest rates could dent demand for
residential and commercial properties. Bank stocks extended recent
steep losses triggered by concerns that elevated inte…

Is there a gold bubble now? can gold price collapse?
After reporting consistent gains for the past 10 years, gold continues to be the best performing asset this year as well. The year-to-date return is a whopping 35% as the price of gold touched an all-time high of Rs 27,840 per 10 gm on 19 August. While new investors and speculators are rushing to benefit from this 'golden harvest', seasoned players have already started raising an alarm. 

"Gold is getting into a bubble territory. Though the short-term uptrend may continue due to the ongoing sovereign crisis in the US and Europe, it can burst any time," warns Prithviraj Kothari, president, Bombay Bullion Association. So investors need to be cautious. While it is the 'safe haven' demand that is propping up gold, investors need to keep in mind that this is not a risk-free market. Gold had crashed to $260 an ounce (nearly 69%) after hitting a peak of $850 in 19…

LIC Buys Double as Prices Dive - 10 Aug 2011
LIC Buys Double as Prices Dive 10-Aug-2011 Life Insurance Corp of India, the government's institution of choice to stabilise the stock market whenever it gets wobbly, has more than doubled stock purchases in the past three days as the global debt worry-triggered selloff made valuations attractive. LIC, the country's biggest investor with stakes in L&T, Axis Bank and Grasim, will raise its secondary market purchases this fiscal as IPOs dry up with promoters not keen to sell shares at lower valuations. "We have been buying in the past few days,'' said a LIC executive involved in decisionmaking. "With the market correcting and not many public issues coming up, we would be investing more in secondary market," said the person who did not want to be identified.LIC to Invest . 50k Cr More LIC, which had been buying stocks for an average of . 120 crore in the first four months of…

LIC shares in companies and real estate: Tata steel, Maruti Suzuki, Essar oil, ONGC

LIC hikes stake in Tata Steel

NEW DELHI: Life Insurance Corporation of India has bought 9.4 lakh shares in Tata Steel from the open market, hiking its holding in the steel-making firm to a little over 14 per cent.

In a communique to the Bombay Stock Exchange (BSE), Tata Steel said that following the acquisition of additional shares on August 12, LIC currently holds 13.49 crore shares, or a 14.06 per cent stake, in the firm.

LIC had a 13.97 per cent stake in Tata Steel before the latest transaction, it said.

As of June 2011-end, Tata Steel's promoters, including Tata Sons, held a 30.60 per cent stake in the company. 
LIC holds 6.93 per cent stake in Maruti Suzuki India, while seven fund houses together hold 3.93 per cent stake.…

LIC buys shares of RCom - 20 aug 2009 (after stocks fell to lowest)

Life Insurance Corporation of India [ Images ] has hiked its stake in Anil Ambani [Images ] Group company Reliance Communications [ Get Quote ] to 7.02 per cent after buying fresh shares worth Rs 1,274.4 crore through an open market transaction. LIC [ Get Quote ] has purchased 4.16 crore (41.6 million) shares representing 2.01 per cent stake in private telecom services provider Reliance Communications worth Rs 1,274.4 crore (Rs 12.74 billion), Reliance Communications said in a disclosure to the Bombay Stock Exchange [ Images ]. Prior to the purchase, LIC held 5 per cent stake in the company, while now it holds 7.02 per cent stake or 14.50 crore (145 million) shares of Reliance Communications. Shares of Reliance Communications on Thursday settled at Rs 245.25 on the Bombay Stock Exchange, up 2.08 per cent from the previous close.

LIC buys aggressively in frontline companies on Jan 22, 2010
LIC gets into buying spreeBy Falaknaaz SyedAug 08 2011 , Mumbai
Tags: News As global markets went into a tailspin, public sector behemoth Life Insurance Corporation of India (LIC) has turned an aggressive buyer in local stock markets. In the last two days, LIC has remained a net buyer and bought frontline stocks worth Rs 1,000 crore, with most investments going into blue chip stocks from FMCG, IT, metals and engineering sectors.

A senior LIC official told Financial Chronicle that the stocks are now available at 30-40 per cent discount. He said, LIC has in general refrained from buying banking shares.

On Monday, LIC remained a net buyer and bought stocks worth Rs 500 crore, said the official.

"We have been buying FMCG, IT, metals and engineering but have refrained from buying banking stocks. Only in some cases where the banking stocks are o…

Life Insurance Corp of India, the government's institution of choice to stabilise the stock market whenever it gets wobbly, has more than doubled stock purchases in the last three days LIC buys double as global debt worry-triggered selloff makes valuations attractive Shilpy Sinha, ET BureauAug 10, 2011, 01.30am IST Tags: Standard & Poor's|Power Finance Corp. MUMBAI: Life Insurance Corp of India, the government's institution of choice to stabilise the stock market whenever it gets wobbly, has more than doubled stock purchases in the last three days as the global debt worry-triggered selloff made valuations attractive. LIC, the country's biggest investor with stakes in L&T,

Cambridge lab named after Cipla chairman Hamied lab named after Cipla chairman HamiedLondon, Aug 11 (PTI) A cutting-edge chemistry laboratory co-named after Dr Yusuf Hamied, chairman of Indian pharmaceuticals major Cipla, has been opened at the University of Cambridge.The laboratory based in the Department of Chemistry is called Todd-Hamied laboratory. Todd refers to Prof Lord Alexander Todd, the Nobel Prize winning chemist and former Master of Christ''s College, a university statement said.The laboratory will explore harnessing materials for energy storage and conversion in an effort to develop the next generation of batteries and fuel cells.Prof Clare P Grey has been appointed director of the Todd-Hamied Laboratory.Prof Grey said: "I''d like to thank Dr Hamied for his generous contribution to the laboratory, which has allowed us to convert an old, abandoned space into an impressive and well-designed modern laboratory. It is alrea…