The Indian wind energy major had in September agreed to buy the equity stake from Portugese company Martifier for euro 270 million. At present, Suzlon holds 66 per cent stake in REpower. “It was originally scheduled for May. We had accelerated it to December, but we are going with the original schedule,” Tanti said on the sidelines of the World Economic Forum’s India Economic Summit. Continue Reading

Real estate major Unitech today said it has repaid the entire financial assistance received from Indiabulls Financial Services. Unitech has repaid on the due date the entire financial assistance received from Indiabulls Financial Services and its affiliates, the company said in a regulatory filing to the Bombay Stock Exchange. “With this, neither the company nor its subsidiaries, affiliates, associates or promoters has any loan, debt or any other outstanding amount payable to Indiabulls Financial Services or its associates,” it added. Continue Reading

The Sensex opened 12 points higher at 9,397, touched a high of 9,436, and then soon slipped into the negative zone. Aggressive selling in banking and realty stocks dragged the index below the 9,000-mark to a low of 8,957 - down 479 points from the day’s high.

Selective buying at lower levels helped the index cut losses towards the close. The Sensex finally ended with a loss of 94 points at 9,291. Continue Reading

The company’s board approved the buyback plan during market hours today, 14 November 2008. Meanwhile, the BSE Sensex was down 110 points, or 1.2%, to 9,422.32. On BSE, 2.7 lakh shares were traded in the counter. The scrip had an average daily volume of 77,425 shares in the past one quarter.

The stock hit a high of Rs 40.45 and a low of Rs 35 so far during the day. The stock had a 52-week high of Rs 107.30 on 17 December 2007 and a 52-week low of Rs 24.75 on 24 October 2008. Continue Reading

By Glenn Somerville and Matt Spetalnick

WASHINGTON (Reuters) - World leaders grappling with the worst financial crisis since the Great Depression of the 1930s pledged on Friday to deliver a concrete plan to ward off recession and prevent future meltdowns.
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DETROIT (AP) — In recent months, General Motors has been burning through about $3.1 million an hour, or $52,000 — the price of a well-equipped Chevy Tahoe SUV — every minute.

How much longer can this go on? And perhaps more important, can GM hang on until Barack Obama and the new Congress can come to the rescue?
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MUMBAI: After a promising start, stocks see-sawed through the day to finally give in to losses. Deteriorating global economic news with Hong Kong and Italy drifting into recession weighed on sentiment. All sectoral indices, barring FMCG, ended in the negative territory. Continue Reading