Vascon Engineers Ltd IPO Details

Price Band: Rs.165 to Rs.185 Issue Opens on: January 27, 2010 Issue Closes on: January 29, 2010 Vascon Engineers Ltd IPO Issue highlights •Vascon Engineers Limited (VEL) is one of the leading engineering, procurement & construction (EPC) services company, having completed 181 contracts with an aggregate contract value of Rs 889 cr. Of these contracts [...]

Aqua Logistics Ltd IPO

Price Band: Rs.220 to Rs.230 Issue Opens on: January 25, 2010 | Issue Closes on: January 28, 2010 About Aqua Logistics: •Leading full service 3rd Party Logistics Service Provider (3PL) with end to end execution and consulting capabilities •Asset light, technology enabled business model – greater efficiency and timely delivery •Offerings include – Multimodal Transportation, [...]

Dr Reddy’s Labs net loss at Rs 233 Crores versus profit of Rs 192.4 Crores

Dr Reddy’s Labs Q3FY10 consolidated net loss stood at Rs 233 Crores Versus net profit of Rs 192.4 Crores.  Net sales stood at Rs 1,730 Crores Versus Rs 1,840 Crores; adjusted net profit stood at Rs 225 Crores.  Goodwill write-off was of Rs 458 crore. Dr Reddy’s Q3FY10 (IFRS) consolidated net loss stood at Rs [...]

Reliance Industries pulls back plans for city Gas Distribution say sources

Mukesh Ambani’s Reliance Industries (RIL), which had earlier planned a Rs 30,000 crore investment across 60 cities for foraying into the business of city gas distribution, has now decided to scale it back.  Sources say that Reliance Industries (RIL) has withdrawn 52 of the 60 expressions of interests (EoIs) it had submitted to the petroleum [...]

Significant risk of double dip recession in 2010 says Harvard Economist Martin Feldstein

Prominent Harvard University Economist Martin Feldstein says that the US economy faces a ‘significant risk’ of another recession in 2010, unless the Obama administration promotes confidence it can manage a growing fiscal deficit. Without public approval, namely from investors, US bond yields will climb, taxes will rise and a fragile recovery will be short lived, [...]

Maruti Suzuki India hikes prices of all its cars

Maruti Suzuki India, which is India’s largest car maker today in a statement said that it has hiked the prices of all its cars by around 10,000 rupees.  It said that this hike was intended to soften the dent made by the rising input costs, such as steel prices, etc.  The average amount of increase [...]

CLSA sees Emerging markets like India and China Underperforming US markets

CLSA sees Emerging markets like India and China underperforming US markets in 2010.   Russell Napier, Strategist, CLSA, expects the banking system in the west to repair itself and start working this year. He feels the money flow into emerging markets will slow down significantly in 2010. He believes the developed markets will outperform developing markets. [...]

TCS Q3 net profit jumps 12.32%

TCS Q3 net profit jump 12.32% at Rs 1824 Cr Vs Rs 1,623.9 Cr; Consolidated revenues increased 2.86% to Rs 7,648 Cr Vs Rs 7,435.1 Cr (QoQ) India’s largest IT exporter, TCS (Tata Consultancy Services) has announced its third quarter results of FY10. It has reported 12.32% jump in its Q3 net profit of Rs [...]

Arbitrage Trader’s Livelihood at Risk

Thousands of day-traders earning a living from arbitrage opportunities in Indian stock markets may become extinct in the next few years, thanks to the accelerating interest in algorithmic trading. The rising number of brokerages with algorithm, or computer programme-driven trading, may turn out to be a second turning point in Indian markets after the introduction [...]

China’s Central Bank Hikes CRR Ratio

The Central Bank of China has Hiked the Credit Reserve Ratio or the CRR by 0.5% or 50 basis points.  This move was to tighten the liquidity. This move came as a dampner to everybody’s sentiments since it was the first move since December of 2008. As a result of this sudden hike in the [...]

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