Credit rating firm ICRA Ltd's unit bought 100% stake in US-based IT firm Sapphire International Inc to help expand its presence internationally.
"Its a deal of about $1 million. It would be paid over a period of one year," P.K. Choudhury, vice chairman and CEO, told reporters at a press conference.
The US-based firm Sapphire International Inc provides IT solutions to government agencies and companies in that country, while ICRA 's unit ICRA Techno Analytics Ltd, India, is in the business of software development.
"The acquisition will help us grow in foreign countries," Chaudhary said. ...
The Children’s Fund, the activist hedge fund which was founded by Christopher Hohn, also known as TCI, is reported to have sold $2.2 billion worth of stocks, which is almost one-third of the purchases (TCI invested $6.7 Billion last year) the fund made in 2008 in Indian Markets.
An estimated sale of $20.8 billion have been done by FII in India in 2009 alone and TCI account for about 10% ($2.2 billion) of the total estimated Outflows.
In September, TCI, ...
India is staring at deflation with the inflation rate this week falling to 0.44% — the lowest since 1977. Food prices, however, continued to be high, with food grains roughly 9% costlier than a year ago.
With the wholesale price index (WPI) falling by one point to 226.7 for the week ending March 7, 2009 — the same level at which the index was on March 29, 2008 — it ...
Yesterday: As we said Indian Stock Market opened up about 120 points up and within half an hour of trading session it went down and even reached down by 80-90 points due to profit booking.
Today: Now today trend of Indian Stock Market looks some down side due to profit booking but a limited one....
INSTANEX: The Instanex FII Index closed 0.57% at 201.90. DIIs seem to have suffered due to a sharp fall in L&T that fell 4.14% to Rs. 609.55. The Instanex Top 15 portfolio was also strong, up 0.55%, indicating emergence of strong hands in the last hour of trade. Nifty was up 0.45% and Sensex was up 0.28%.
Out of the 15 companies of the Index, 11 are up and four are down. The main gainers are HDFC (+2.53%; weight 12.19%), Sun Pharma (+2.22%; weight 2.09%) and TCS (+1.62%; weight 2.77%) while the main losers are L&T (-4.14%; weight 2.56%) and BHEL (-3.15%; weight 5.81%)....
FII and DII activity that was seen on Thursday, March 19, 2009 is shown below. The report shows that FII were net buyer of Rs 23 crore where as DII saw selling of 18.75 crore.
FII trading activity ...
Windpower major Suzlon Energy said on Thursday that it is exploring ways to raise funds, including private equity placement, for funding its operations and growth plans.
"The company is exploring various options to raise finance for its operations and growth plans and private equity placement is one of them," Suzlon Energy said in a filing to the Bombay Stock Exchange (BSE).
World’s fifth largest wind turbine maker is mulling PE placement through a possible stake sale, to raise finance.
Shares of Suzlon were on a northward journey for the past four trading sessions, surging as much ...
Inflation for the week ended March 07, 2009 fell to an all time low of 0.44% as compared to 2.43% a week earlier. The sharp fall in inflation was due to several factors including lower prices of food and fuel items. Annual inflation as measured by Wholesale Price Index (WPI) was at 2.42% in the week before and at 7.78% in the corresponding week last year....
Zee Entertainment Enterprises Ltd has informed that on health grounds, Mr. D P Naganand, a Non-Executive Independent Director of the Company has resigned from the Directorship of the Company, effective from March 16, 2009.
IFCI Ltd has also informed BSE that Shri Thomas Mathew T. has resigned as Director of the Company.
Yesterday: Indian Stock Market went up as expected but it loose some strength due to profit-booking in the second half of the yesterday’s session.
Today: Now since the market was unable to cross our resistance level of 9100 for sensex and 2850 for Nifty, shorting can be done at higher levels. Check our post Does market made a bottom? for the ...
Today lot amount of buying was seen by both FII and DII in Indian Stock Market. FII and DII activity that was seen on Wednesday, March 18, 2009 is shown below. The report shows that FII were net buyer of Rs. 222.14 crore where as DII saw enough buying of 526.34 crore.
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Every time the market bounces back from over sold zone, the Bulls waste no time in claiming that the bad news is over. But let me assure you there are no ‘V’ shaped recoveries in this kind of a global economy. Yes, any pull back is positive and good for the trading community. But, ignoring the complete picture & believing that bottom has formed is a big mistake.
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Advance tax collection shown a decline of around 6% year-on-year i.e. March 2008 to March 2009. Banks are the star performer of this else this decline would have definitely been deeper and it would have been. The exact collection of advance tax YoY is Rs 10,886 crore versus Rs 11,640 crore.
We got some fresh numbers from banks––Yes Bank, Kotak Mahindra Bank––all have shown good numbers. So quite clearly banks were the best performing sector in terms of advance tax collections and helping the I-T Department in terms of the decline not being as high as was expected earlier by analysts.
There were also an interesting ...
Yesterday: Indian Stock Market went down sharply in the afternoon around our resistance level of 2800 for Nifty and closed at 2757 for Nifty.
Today: Indian Stock Market still looks up. We firmly believe that market should go high but make long position only when it crosses the target of 9100.
BSE Sensex: (8864) The support for ...
INSTANEX: The Instanex FII Index was down 1.12% to 198.53 with the Instanex Retail 15 portfolio close behind, down 1.06%. Reflecting this trend Sensex was down 0.89%, Nifty lost 0.71%, the Instanex DII 15 portfolio was down 0.60%, the Instanex Top 15 portfolio was down 0.58% and the Instanex Promoter 15 portfolio was down 0.43%.
Out of the 15 companies of the Index, 11 were down while four were up. The main losers were TCS (-4.31%; weight 2.72%), SBI (-3.87%; weight 3.35%) and HDFC Bank (-2.27%; weight 5.14%) while the main ...
