The Mumbai-based firm, which trails market leader Bharti Airtel, said net profit fell 51.7 percent to 7.40 billion rupees ($158 million) for its fiscal second-quarter ended in September, from 15.31 billion a year earlier. The company had to provide for foreign exchange losses of 2.83 bil…
Bharti-MTN deal termination: How will the stock react?
Posted on: October 1st 2009 in Market News.
The much-anticipated deal between India’s Bharti and South Africa’s MTN has botched yet again. On the news of termination, MTN shares fell 3% from the day’s high, to close down 1%. Rand fell over 2% versus dollar. The company has requested the SA exchanges to suspend tradin…
PM backs Bharti’s bid to acquire stakes in MTN
Posted on: September 27th 2009 in Market News.
Pittsburgh: Prime Minister Manmohan Singh today strongly backed Bharti group’s efforts for acquiring stakes in South African telecom gaint MTN when he took up the issue with President Jacob Zuma and hoped that the deal will go through without any “discrimination”. ̶…
Stocks in news: Tata Power, Dr Reddys, Bharti, Sun Pharma
Posted on: September 15th 2009 in Market News.
Oil India update -Ministers panel sets IPO price at Rs 1,050/share: Oil Secretary -Alert: IPO price band was Rs 950-1050/share -Listing on September 30 RIL sources on RNRL -Intervention application weakens NTPC’s case -NTPC case based on international bidding process -In RNRL…
Intraday calls for 31-08-09
Posted on: August 31st 2009 in Intraday Tips, Daytrading, Intraday tips for free NSE BSE Breakouts Daily intraday tips calls.
Markets likely to see a gap down opening. If marekts show recovery later during the day, Buy: Unitech and Bharti Airtel …
Stocks in news: Bharti, Aban, NTPC, Puravankara, HCL Tech
Posted on: August 25th 2009 in Market News.
Here are stocks that are in news today: Results today: HCL Tech FY09 ended June 30 Bharti-MTN deal update: Sources -RoC (Registrar of Companies) to scrutinise proposed GDR (global depositary receipt) issue before final SEBI nod -Alert: Bharti proposes to issue 25% equity through GDRs …
TRAI puts new telecom licences on hold
Posted on: August 5th 2009 in Market News.
India’s telecoms regulator TRAI has asked the government not to issue new licences until it decides whether there is a need for more players in the crowded market, a move that could further delay entry of firms such as ATandT. The Telecoms Regulatory Authority of India (TRAI) has a…
DIIs and speculators buying, FIIs selling: Instanex FII index up 1.85%
Posted on: July 23rd 2009 in Market News.
Of the 15 components of the Instanex FII Index 14 were up while just Bharti Airtel (-1.14%; weight 11.06) was down. Instanex FII Index Domestic institutional investors and speculators seem to be buying while FIIs seem to be selling. At 3 pm, the Instanex DII 15 portfolio was up 2.73% (+…
Top 10 firms lose over Rs 1.73 lakh crore in market valuation
Posted on: July 12th 2009 in Stock News.
MUMBAI: The country’s top 10 firms saw their total market capitalisation being wiped out by over Rs 1,73,000 crore last week, and Mukesh BSE Pick stocks on fundamentals Fiscal & revenue deficit Short-term plans are safe bets Five facts on stock falls Volatility: Bet on bi…
Telecom Industry gains on Rs 15k crore investment plan
Posted on: June 11th 2009 in Stock News.
The telecommunication sector has turned out to be the major gainer today even as the market traded in red for the first half of the trading day.Spice Communications and Tulip Telecom have soared 14% each to Rs 79.65 and Rs 795, respectively. Idea Cellular has surged 8% to Rs 90. Tata Com…
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