Browsing articles from "March, 2012"
Mar
30
2012

Rupee fell 4.2% in March:

indian_rupee

Indian Rupee fell by 4.2% this month, making it the biggest fall since November. During trading session today (30th March 2012) the currency gained 0.30 paise against previous close of Rs. 51.39. At 1:00 P.M. the rupee was trading at Rs. 51.09 per dollar, higher than previous close. The gain was seen on the backdrop of exporters receiving payments on their financial year closing. For this complete year rupee has been weak due to several […]

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Mar
30
2012

Last trading day for FY12:

Today is the last trading day for FY12. And the Indian markets are waving a decent goodbye to the current financial year. The markets are up around 1.3%. Sensex is trading currently at 17272.45 up by 213.84 points (+1.25%) and Nifty at 5249.95 up by 71.10 (+1.37%) at 10:45 A.M. The advances and decline ratio is also very motivating which is 1048:250. After couple of days markets have shown such a positive move. The markets […]

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Mar
29
2012

NBCC to be listed at Rs. 106 per share:

National Buildings Construction Corporation Ltd. IPO

The National Buildings Construction Corporation (NBCC) issue which came as an IPO, would be listed at an higher end of the price band. The price band for the issue was Rs. 90 – Rs. 106 per share and the price fixed for the listing is Rs. 106. The Empowered Group of Ministers (EGoM) have decided the listing price and that the retail investors will get 5% discount to the issue price i.e. Rs. 100.70 .

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Mar
29
2012

NCDEX bans future contracts in Guar:

Guar trade ban

NCDEX has banned all future contracts in Guar seed and Guar gum from this thursday (29th March 2012). The commodity markets regulator Forward Markets Commission (FMC) has found some irregularities in the trading of the futures contract and has stopped all further contracts. Although all the present holdings are allowed to unwind. The price hike of guar to more than 70% in last few weeks have raised suspicion over the counter. The FMC has probed […]

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Mar
29
2012

MT Educare IPO update:

MT Educare IPO

MT Educare IPO will be closed today. Till yesterday the IPO was subscribed 1.25 times. Thus we may see a very warm response received by the issue. The price band for the issue is Rs. 74 – Rs. 80. MT Educare is a  Chennai based coaching services provider having it’s branches spread over  Maharashtra, Gujarat, Karnataka and Tamil Nadu . The institution is into business for the last two decades.

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Mar
28
2012

Nigerian Finance Minister nominated to succeed Robert Zollieck:

Ngozi Okonjo-Iweala World Bank President Nominee

The Nigerian Finance Minister has been nominated for the President of World Bank as Robert Zollieck is completing his tenure in July this year. This is the first time that several candidates are being nominated for heading the World Bank. Since inception only Americans have held this position  But nominations have been done after an agreement by leaders of G20 group of nations in 2009. Ngozi Okonjo-Iweala, 57 has been nominated on Friday by the African power […]

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Mar
28
2012

Sweat Equity:

Sweat equity refers to the equity created in a company as result of the owners’ hard work and efforts. When starting a company/business some partners contribute capital to earn their stake while others chose to put in their efforts in return of either low or no financial compensation. This is called as sweat equity. Sweat equity is sometimes referred to as “equity compensation” or “stock for services”. Thus cash stripped entrepreneurs prefer to collect sweat […]

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Mar
28
2012

MT Educare IPO:

MT Educare IPO

MT Educare, a Chennai based coaching services provider offers it’s IPO on stock exchanges. The IPO is open within 27th March 2012 till 29th March 2012. The price band of the IPO is Rs. 74 – Rs. 80. Although the experts believe that the IPO is richly priced as compared to it’s peers, but it could be taken by those investors who have high risk potential with a longer view on the holdings. The institution […]

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Mar
28
2012

Vijay Mallaya planning to liquidate his holding in United Breweries:

Vijay Mallaya, United breweries

Vijay Mallaya in an attempt to financially support Kingfisher Airlines, is planning to liquidate a part of his stake in United Breweries Ltd. He has planned to sell around 12-13% of his stake in UBL for approximately 2,000-2,500 crore rupees. The current holding of Vijay Mallaya is 23%. The stake would be taken up by Heineken, which is currently holding 37.5% stake in UBL. With the execution of this deal the governing stake would be […]

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Mar
27
2012

Markets trading at day’s high on GAAR clarification:

General Anti-Avoidance Rules (GAAR)

Finally some clarification came over GAAR issue from Finance Ministry and stock markets rose to day’s high. Many confusions regarding the targeting of GAAR were hovering around. But after the clarifications made by the Finance Ministry, the markets gained high momentum. The Government sources have cleared that GAAR would not be applicable on every Promissory Note investment but it would be applied only on such P Notes which are aimed at taking tax benefits.\ Further […]

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