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Satyam saga: SEBI to amend open offer rules

Posted on: Monday, February 2nd 2009 and is filed under Press Releases.

MUMBAI: India’s stock market regulator SEBI said on Monday it would amend its regulations after it was approached by Satyam Computer Service’s government-appointed board for some exemptions from open offer rules, but gave no timeframe. “We will amend our regulations thro...

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Spice firms up plan for Satyam buy

Posted on: Monday, February 2nd 2009 and is filed under Stock News.

Sends team to discuss share auction with Sebi today Satyam board to sell stake via auction.Firming up plans to acquire 51 per cent stake in scam-tainted Satyam Computer Services, industrialist B K Modi-controlled Spice Group is sending a team to start negotiations. ...

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DLF to raise up to $510 mln from PE investment

Posted on: Monday, February 2nd 2009 and is filed under Stock News.

NEW DELHI (Reuters) – DLF Ltd, India’s top listed real estate firm, hopes to raise 20-25 billion rupees ($408-510 million) from private equity investment in its property trust in the March quarter, its vice-chairman said on Monday. ...

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Data points to tough times for Indian economy

Posted on: Monday, February 2nd 2009 and is filed under Press Releases.

By Rajkumar Ray and V. Ramakrishnan NEW DELHI/MUMBAI (Reuters) – Indian manufacturing activity contracted at the start of 2009 and its exports shrank at the end of 2008, pointing to more pain for Asia’s third-largest economy as the sharp global slowdown bites. ...

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Sensex closes below 9100; JP Asso, DLF plunge

Posted on: Monday, February 2nd 2009 and is filed under Press Releases.

MUMBAI: Indian equities ended with huge losses on Monday in line with its peers after concerns of deteriorating global economy took centrestage. Fall in shares of rate sensitive sectors coupled with profit booking after previous week’s gains pulled down indices further. Bombay Stock Exc...

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Spice eyes Satyam but not interested in piecemeal buyout

Posted on: Monday, February 2nd 2009 and is filed under Stock News.

As prospective bidders for crisis-ridden Satyam Computer Services start lining up, industrialist BK Modi’s Spice Communication joined the fray to buy out the troubled IT firm. Modi, however, made it clear that the telecom group would be interested in buying out Satyam and that it was no...

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Sensex down 350pts; Rel Infra drops 8%

Posted on: Monday, February 2nd 2009 and is filed under Market News.

The Sensex is now down 357 points at 9,068.DLF has slumped nearly 13% to Rs 155, and Jaiprakash Associates has tumbled over 11% to Rs 68. Reliance Infrastructure has plunged over 8% to Rs 535. HDFC and ICICI Bank have shed nearly 7% each at Rs 1,431 and Rs 388, respectively. ...

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Ramalinga Raju possibly smarter than regulators: Hinduja

Posted on: Monday, February 2nd 2009 and is filed under Stock News.

Davos: NRI business leader Gopichand Hinduja has said scandals such as the one in Satyam Computer will continue to haunt developed and developing countries, although this particular scam may have happened because the IT firm’s founder Ramalinga Raju managed to outsmart the regulator...

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Satyam bagged more than 10 new clients in January

Posted on: Monday, February 2nd 2009 and is filed under Stock News.

Mumbai: Amidst the hullabaloo over the affairs at Satyam Computer Services and reports of clients courting its rivals, the company’s sales team is learnt to have worked quietly to close about 15 deals. Around 80% of the deals are with new clients, a company source said. ...

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Company Review: Reliance Infrastructure

Posted on: Monday, February 2nd 2009 and is filed under Brokerage Recommendations.

Indiabulls Securities: Reliance Infrastructure Ltd. (RELI) recently reported that it has cash and cash equivalents of more than Rs98 billion, which comes as a pleasant surprise amid the ongoing liquidity crunch in the economy. This should help in the timely completion of the various EPC a...

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