Monday, February 25, 2008
Reliance Power Drops Issue the 3:5 bonus issue for its shareholder
When Reliance Power Ltd failed to swing the mood of the markets on the day of its listing, investors felt let down by the hype generated around the biggest initial public offering... When Reliance Power Ltd failed to swing the mood of the markets on the day of its listing, investors felt let down by the hype generated around the biggest initial public offering (IPO) in Indian history। Compensating shareholders for the fall in its share price after listing, the company today proposed an issue of free bonus shares to the investors, excluding the promoters, in the ratio of 3:5 (3 shares for every 5 shares held).
Friday, February 22, 2008
SRK in list of Hot number
Here is none other than the Badshah of Bollywood in his much talked about item song in Rakesh Roshan's 'Krazzy 4' Here is none other than the Badshah of Bollywood in his much talked about item song in Rakesh Roshan's 'Krazzy 4' - Shahrukh has strutted his stuff to the title track of the film and Hrithik Roshan is also expected to perform an item number for 'Krazzy 4'.
Now before we drive you crazy with anticipation - here's SRK doing what he does best - driving us Krazzy with a K...
Now before we drive you crazy with anticipation - here's SRK doing what he does best - driving us Krazzy with a K...
HDFC Bank Consider to Merge Centurion Bank
HDFC Bank, the private sector banking arm of housing finance major Housing Development Finance Ltd is, is the country’s second largest private sector bank after ICICI Bank.
HDFC Bank, the private sector banking arm of housing finance major Housing Development Finance Ltd (HDFC), is the country’s second largest private sector bank after ICICI Bank. A merger with Centurion Bank of Punjab (CBoP) will give the merged entity a distinct edge over the others, including some major public sector banks (PSBs).
The promoters hold about 30 per cent in HDFC Bank, while foreign institutional investors have another 34.09 per cent. In CBoP, Bank Muscat holds 14.02 per cent, Kephinance Investments has 6.13 per cent, HSBC Financial Service Middle East 4.71 per cent, Sabre Capital 3.48 per cent and Ambit Capital 3.74 per cent, among others. Once the merger with HDFC Bank is cleared, it will be one of the biggest in the banking space. HDFC Bank has nearly 750 branches and plans to open another 200 branches in future. CBoP has nearly 400 branches. The merged entity will have around 1,150-1,200 branches.
Following a successful merger, the combined entity could have a market capitalisation of about Rs 63,000 crore, based on their current market values. CBoP is currently the tenth most valued bank in India with a market cap of about Rs 10,500 crore, while HDFC Bank is the third most valued at over Rs 52,000 crore.
Meanwhile, shares of both the banks declined on the BSE. While HDFC bank fell by 4.4 per cent to Rs 1474.95 on the BSE, Centurion Bank declined by 1.1 per cent to Rs 56.40.
“CBoP is also burdened with non-performing assets (NPAs) in trade financing and huge liabilities, as a result of which the performance is on a dip,” sources said.
Adding to this, due to regulatory pressures, the merger with Lord Krishna Bank (LKB) had got delayed. The official merger has still not happened. However, a top executive from CBoP said that the operations with LKB would kick off in the first week of April.
HDFC Bank, the private sector banking arm of housing finance major Housing Development Finance Ltd (HDFC), is the country’s second largest private sector bank after ICICI Bank. A merger with Centurion Bank of Punjab (CBoP) will give the merged entity a distinct edge over the others, including some major public sector banks (PSBs).
The promoters hold about 30 per cent in HDFC Bank, while foreign institutional investors have another 34.09 per cent. In CBoP, Bank Muscat holds 14.02 per cent, Kephinance Investments has 6.13 per cent, HSBC Financial Service Middle East 4.71 per cent, Sabre Capital 3.48 per cent and Ambit Capital 3.74 per cent, among others. Once the merger with HDFC Bank is cleared, it will be one of the biggest in the banking space. HDFC Bank has nearly 750 branches and plans to open another 200 branches in future. CBoP has nearly 400 branches. The merged entity will have around 1,150-1,200 branches.
Following a successful merger, the combined entity could have a market capitalisation of about Rs 63,000 crore, based on their current market values. CBoP is currently the tenth most valued bank in India with a market cap of about Rs 10,500 crore, while HDFC Bank is the third most valued at over Rs 52,000 crore.
Meanwhile, shares of both the banks declined on the BSE. While HDFC bank fell by 4.4 per cent to Rs 1474.95 on the BSE, Centurion Bank declined by 1.1 per cent to Rs 56.40.
“CBoP is also burdened with non-performing assets (NPAs) in trade financing and huge liabilities, as a result of which the performance is on a dip,” sources said.
Adding to this, due to regulatory pressures, the merger with Lord Krishna Bank (LKB) had got delayed. The official merger has still not happened. However, a top executive from CBoP said that the operations with LKB would kick off in the first week of April.
Food items costlier, Growth rate down approximately 9%
The election budget of the UPA government — could see Finance Minister P Chidambaram taking steps to arrest spiralling prices, especially of food and other essential commodities. The election budget of the UPA government — could see Finance Minister P Chidambaram taking steps to arrest spiralling prices, especially of food and other essential commodities.
Inflation grew to a 6month high of 4.35% for the week ended February 9-2008, as food items turned costlier. This is the third week in a row when inflation rate is higher than 4 per cent.
This, of course, is 200 basis points lower than the position prior to Budget 2007-08. Under pressure from allies, the government banned forward trading in wheat and rice and tweaked excise duty structure of cement to stem the price rise. Then, too, the rise was mainly on account of high food prices.
Latest data shows consumer price inflation has dropped from 7. 5 per cent to 5.5 per cent, still higher than primary price inflation. However, primary prices are rising again, and according to an Axis Bank study, CPI inflation is unlikely to come below 5 per cent in the near future. “The rise in the NCDEX Agri Spot index suggests that primary price levels will keep rising for some time, but we also think there will be some moderation around the time of the winter harvests.”
Last month, at the World Economic Forum in Davos, Chidambaram had said that keeping inflation rate low, not high growth, was a priority for the government. “Between inflation and growth, what hurts the poor most is the inflation. That is why we must keep inflation low and this means reasonably high rate of growth.”
Inflation grew to a 6month high of 4.35% for the week ended February 9-2008, as food items turned costlier. This is the third week in a row when inflation rate is higher than 4 per cent.
This, of course, is 200 basis points lower than the position prior to Budget 2007-08. Under pressure from allies, the government banned forward trading in wheat and rice and tweaked excise duty structure of cement to stem the price rise. Then, too, the rise was mainly on account of high food prices.
Latest data shows consumer price inflation has dropped from 7. 5 per cent to 5.5 per cent, still higher than primary price inflation. However, primary prices are rising again, and according to an Axis Bank study, CPI inflation is unlikely to come below 5 per cent in the near future. “The rise in the NCDEX Agri Spot index suggests that primary price levels will keep rising for some time, but we also think there will be some moderation around the time of the winter harvests.”
Last month, at the World Economic Forum in Davos, Chidambaram had said that keeping inflation rate low, not high growth, was a priority for the government. “Between inflation and growth, what hurts the poor most is the inflation. That is why we must keep inflation low and this means reasonably high rate of growth.”
Thursday, February 21, 2008
New Record by Gold Prices.
Riding high on the oil and farm commodities rally, gold hit an all-time high today. In Mumbai, the precious metal... Riding high on the oil and farm commodities rally, gold hit an all-time high today. In Mumbai, the precious metal opened at a new peak of Rs 12,195 adding Rs 190; in Delhi it added Rs 175 to Rs 12,215. While in Chennai the prices surged by Rs 200 to at Rs 12,130, in Kolkata it opened at last closing level of Rs 12,225 per 10 gram.
Interest Subsidy Scheme for Exporters
Subscribe to:
Posts (Atom)
