After about one month of SEBI (Securities and Exchange Board of India) declaring its final take on ‘share pledging’, promoters from about 75 companies have been found to pledge shares lying in the range 30-40 percent. In some cases, even higher percentage has been pledged that can be up to 75-80 percent of promoters’ stake. [...]
IMF (International Monetary Fund) has said that the epicenter of the ‘global financial quake’ has shifted to poor countries with about 22 nations in dire need of funds. The required amount can be up to $25 billion for covering up the losses that occurred due to the crisis. According to the Managing Director at IMF, [...]
Honda Siel, the Japanese auto giant is to bring its sedan ‘Accord V6′ advanced version in the Indian market in the coming week. It is believed to be priced at Rs. 25 lakh. Masahiro Takedahawa, the President and CEO of Honda Siel Cars India told that the company is looking forward to launching the Accord [...]
The tax authority in US has made it mandatory for individuals even for non-residents and corporate to disclose their offshore accounts. This amendment would take into consideration the Indians working or have some business interest in US and also the Indian subsidiaries registered in the overseas market. The revision in the guidelines would also enhance [...]
The Indian operations of Standard Chartered got a jump of 37 percent in profit before taxes (PBT) owing to the ‘well-being’ of whole sale banking arm. Post the rise, PBT stands at $943 million for 2008. The figure includes the proceeds it managed by selling its asset management business to IDFC for $146 million. The [...]
With Indian growth story is facing a downward trend, Foreign Institutional investors are also no longer considering stocks of public sector banks as a convenient and favourable option to make an investment. Some months back, FIIs were willing to pay a hefty premium for acquiring a stake in banking stocks but the situation has changed [...]
A top official at Reliance Energy has opined that pricing the oil exploration acquisitions at $60 a barrel is fine considering that the prices are to rise by 50 percent in the coming times. According to Atul Chandra, the in charge of taking forward the expansion operations of Reliance Upstream also added that the oil [...]
With the Indian Rupee breaching the Rs 52 mark for the first time against the US dollar, forex dealers are experiencing huge sales from Indians who are encashing dollar notes available with them to make good amount of profit. According to forex dealers, many households are approaching them with the dollar notes hold backed by [...]
Satyam Computer Services is planning to initiate revenue linked allowance in place of its existing variable pay policy from the next month for a number of associates with a view to minimize cost. Company’s CEO AS Murthy has sent an email to its employees saying that a revenue-linked allowance is to be introduced from April [...]
RPL (Reliance Petroleum Limited) and RIL (Reliance Industries Limited) were merged earlier in 2002 also with a swap ratio of 1:11 (RPL shareholders got 1 share of RIL for every 11 shares they held). RPL (a 9 million tonne/annum refinery located in Jamnagar) was conceived in 1993 and later was made public in the same [...]