Breaking News & Stocks

rakeshmalik · #**601** 28th February 2008, 01:30 PM

Bahrain to deport workers who strike, setback for unskilled Indian expats
28 Feb, 2008, 1055 hrs IST

Rattled by the spate of strikes, by the Asian workers, most of whom are Indians, the Bahrain government has said foreign workers who refuse to work will be immediately deported

rakeshmalik · #**602** 28th February 2008, 01:33 PM

CRISIL assigns 3/5 grade to Mandhana IPO
28 Feb, 2008, 1253 hrs IST.................
MUMBAI: CRISIL has assigned "3/5" grade to the proposed initial public offer of Mandhana Industries. This grade indicates that the fundamentals of the issue are average relative to other listed equity securities in India. The grading reflects the company's design oriented operations in niche segments of both fabrics and garments business. The company's Europe based design-focused client profile has helped it to sustain volumes and margins in a period of turmoil for Indian garment exporters.

The grading also reflects the potential conflict of interest on account of company’s promoters having another entity in the same line of business, catering to bottom wear. The company has planned a public issue of 4,025,000 equity shares of Rs 10 per share. The issue will constitute 26.66 per cent of the fully diluted post issue paid-up capital of the company. The company is considering a pre-IPO placement of upto 250,000 equity shares. The issue size offered to the public will remain at least 25 per cent of the post-issue paid up capital. Edelweiss Capital is the lead manager to this issue.

rakeshmalik · #**603** 28th February 2008, 01:35 PM

Aban Offshore up on $25 mn contract
28 Feb, 2008, 1222 hrs IST.................
MUMBAI: Aban Offshore made gains Thursday after its subsidiary received a letter of award for $25 million from PTTEP International for a three well contract offshore Myanmar, for the jack-up drilling rig deep driller 5. The contract is expected to be executed in four months. Shares of Aban Offshore were up 2.13 per cent at Rs 4,105 on the BSE.

rakeshmalik · #**604** 28th February 2008, 01:58 PM

Indiabulls Securities may list in March: Official.................MUMBAI: Brokerage firm Indiabulls Securities Ltd, which was spun-off from flagship Indiabulls Financial Services Ltd last year, is expected to list next month, a senior company official said on Thursday.

"Approvals from the stock exchanges have been received and now we are waiting for Securities and Exchange Board of India (SEBI) clearance," Indiabulls Financial Chief Executive Officer Gagan Banga told reporters.

Shareholders of Indiabulls Financial will get one share of the brokerage for every share held. Indiabulls started operations as a broking firm, but now gets majority of its revenue from financial services business.

Its realty arm, Indiabulls Real Estate, which was also spun off from the main firm in 2007, has now forayed into retail and power generation.

rakeshmalik · #**605** 28th February 2008, 02:20 PM

Nitin Paranjpe to be Hindustan Unilever Ltd's new CEO
28 Feb, 2008, 1345 hrs IST............MUMBAI: India's top consumer goods maker, Hindustan Unilever Ltd, said on Thursday it had appointed Nitin Paranjpe as the new managing director and chief executive officer.

The company, a unit of Anglo-Dutch Unilever Plc, said Paranjpe would succeed Douglas Baillie, who will take charge as president for Unilever's Western Europe operations.

Paranjpe was earlier executive director for home and personal care division at Hindustan Unilever. ..

rahulagarwal2006ster · #**606** 28th February 2008, 02:28 PM

hi rakesh ...i am rahul doing mba ...hav u heard abt bulls.beat company

rakeshmalik · #**607** 28th February 2008, 02:33 PM

not yet. it seems wrong name. stock with dot.some thing wrong some where.

rakeshmalik · #**608** 28th February 2008, 02:48 PM

Economic Survey cautiously optimistic about Indian economy

Finance Minister P Chidambaram tabled the Economic Survey for 2007-08 in Parliament on Thursday. The outlook is positive in terms of investment, inflation rate is lower, but crude oil prices are applying pressure. While the scenario for investment is “full of optimism”, it will be difficult to retain 9% growth rate.

rakeshmalik · #**609** 28th February 2008, 04:32 PM

Indiabulls Securities may list next month

Mumbai, Feb 28: Brokerage firm Indiabulls Securities Ltd, which was spun-off from flagship Indiabulls Financial Services Ltd last year, is expected to list next month, a senior company official said on Thursday.

"Approvals from the stock exchanges have been received and now we are waiting for Securities and Exchange Board of India (SEBI) clearance," Indiabulls Financial Chief Executive Officer Gagan Banga said.

Shareholders of Indiabulls Financial will get one share of the brokerage for every share held.

Indiabulls started operations as a broking firm, but now gets majority of its revenue from financial services business.

Its realty arm, Indiabulls Real Estate, which was also spun off from the main firm in 2007, has now forayed into retail and power generation.

rakeshmalik · #**610** 28th February 2008, 05:48 PM

India may import 2 mn ton of wheat: USDA

New Delhi, Feb 26: Low carry-over stock coupled with likely fall in wheat output may Compell India to import about 2 million ton of the grain during 2008-09 marketing, a report published by the US Department of Agriculture said.

The country's buffer stock is expected to be below 4 million ton. Wheat production is also pegged lower by 1.3 million ton at 74.5 million ton, compared to the previous marketing year, the report said.

Wheat production is projected to be lower as the total area under wheat acreage has declined by 5,00,000 hectare. The fall in acreage has been in the states of Madhya Pradesh, Uttar Pradesh, Rajasthan and Bihar due to poor soil moisture and higher temperatures during sowing, it said.

USDA warned that India's wheat supplies are expected to come under pressure as demand for the grain through the public distribution system continues to rise.

"Unless the government resorts to wheat imports, stocks by the end of 2008-09 marketing year could fall below the desired buffer stock level of 4 million ton," it added.

With the general election due in early 2009, the Indian government would take all steps to increase domestic supply of wheat and check rising prices, it said.

India has so far contracted 1.8 million ton of wheat for shipment through March, this year.

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