MARKETS
PRIVATE PLACEMENT
Development Credit Bank EGM okays QIB placement
Plans to raise Rs 225 crore
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FINANCIAL SERVICES
Coimbatore Capital opens 2nd branch
The Coimbatore-based Coimbatore Capital Ltd opened its second branch in the city, at Westveli Street, on Friday. "We propose to set up another five branches in the city as we see more potential, including an exclusive terminal ...
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NEW FUND OFFER
UTI MF launches closed-ended scheme
UTI Mutual Fund has launched UTI-Capital Protection Oriented Scheme- Series I, a closed-ended scheme oriented towards protecting the capital at the end of the term. The new fund offer opens on December 26 and closes on January 25. The scheme ...
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MUTUAL FUNDS
Service tax woes
The mutual fund industry in India has grown by leaps and bounds since evolving many years back. NAVs of mutual funds now compete with stock prices for space in financial newspapers. To the conservative investor, mutual funds have given decent ...
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STOCKS
Suryajyoti Spng: On re-rating hopes
The stock of Suryajyoti Spinning, which has seen a 22-per cent rise over the past one month, ended at Rs 62.05, up almost 5 per cent on the BSE on Friday. Analysts tracking the company say there maybe a re-rating on the cards. The company's ...
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ITL: Value buying seen
The stock of ITL Industries ended at Rs 36.40 up almost 20 per cent on the BSE on Friday. ITL is an established leading metal cutting solution provider offering wide range of machines, tools and cutting lubricants. Dealers maintain the stock is ...
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Tata Steel shines
Tata Steel shares rose on Friday by 5.36 per cent to Rs 459.25 on the BSE, prompted by unconfirmed reports of the company pulling out from bidding for Corus. A Tata Steel spokesman, however, declined to comment on the market buzz. ...
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TECHNICAL ANALYSIS
Bull run continues
Bull run continued over Friday's trading activity. The sentiment reading of the tradable counters remains bullish. Bear move on Monday is likely to change the sentiment reading in their favour. On the contrary, the prevailing bullish sentiment is ...
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ASSET MANAGEMENT COMPANIES
Nikko, Ambit to set up AMC
Nikko Asset Management Co Ltd and Ambit RSM Pvt Ltd have agreed to set up an asset management joint venture in India. Nikko Asset Management is expected to hold 74.9 per cent of the company's stock with Ambit holding the rest. ...
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COMMENTARY
Markets end the week on a strong note
Amidst positive global cues and strong domestic buying support, markets continued their northward journey and ended the week on a strong note. While the benchmark Sensex added 127 points at its close on Friday, the broader Nifty was up by 46 ...
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IPOS
Cairn IPO subscribed 1.12 times
The initial public offering of Cairn Energy was subscribed 1.12 times at 9 p.m. on the BSE and NSE on Friday, the last day of the book building process. The company had issued 32.87 crore equity shares of Rs 10 each in the price band of Rs ...
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Aditya Birla Nuvo, Grasim, Hindalco own 53 pc in Idea Cellular
The three Aditya Birla Group companies - Aditya Birla Nuvo Ltd, Grasim Industries Ltd and Hindalco Industries Ltd - collectively own a little over 53 per cent stake in Idea Cellular. This is revealed in the red herring prospectus filed with ...
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Nelcast intends to go public
Nelcast Ltd plans to come out with an initial public offering of 4.35 crore equity share of Rs 10 each. The company, a manufacturer of castings for the automotive industry, filed its draft red herring prospectus with SEBI on Friday. The Rs ...
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PEOPLE
Mukul Gupta is CEO of Birla Sun Life
Birla Sun Life Asset Management Company Ltd has appointed Mr Mukul Gupta as its Chief Executive Officer. Mr Gupta will begin his tenure with the company from January 2007, and will be based in Mumbai. Prior to joining Birla Sun Life MF, Mr ...
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