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L&T rules out taking over Satyam

Posted on: Thursday, January 8th 2009 and is filed under Press Releases.

MUMBAI: Engineering and construction major Larsen & Toubro on Thursday said it is not looking at taking over Satyam Computer Services, the beleaguered IT major which is facing a Sebi prove after the disclosure of financial fraud by Ramalinga Raju, who resigned as Chairman. “We ...

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Satyam to be replaced by Sun Pharma in Sensex, effective Jan. 12

Posted on: Thursday, January 8th 2009 and is filed under Stock News.

NEW DELHI: The Bombay Stock Exchange will replace Satyam Computer Services with drugmaker Sun Pharma in the benchmark share index, effective Jan. 12, the spokesman for the exchange said on Thursday. National Stock Exchange said on Wednesday it would remove Satyam from its S&P CNX Nif...

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FII net sell at Rs 1,111cr, DII net sell at Rs 505cr on 7-Jan-09

Posted on: Thursday, January 8th 2009 and is filed under Market News.

Foreign institutional investors (FIIs) were net sellers of Rs 1,111.25 crore (provisional) today, according to data released by BSE.While FIIs made gross purchases of Rs 2,496.52 crore, gross sales totalled Rs 3,607.77 crore. Domestic institutional investors (DIIs) were net sellers of Rs ...

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FII flows will be positive in 2009: India Infoline

Posted on: Thursday, January 8th 2009 and is filed under Market News.

Adopting a contrarian view, Mumbai-based stock broking house India Infoline expects domestic equities market to generate a return of over 30% in 2009. The prediction stems from three broad views – India is relatively better positioned for stronger and faster economic growth than res...

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Satyam fraud won’t be the last: SEBI

Posted on: Thursday, January 8th 2009 and is filed under Press Releases.

New Delhi: The case of Satyam Computer is neither the first nor the last corporate fraud to have hit India but the investors should always be on guard and ask for more information before making any investment decision, former SEBI Chairman M Damodaran said on Wednesday. At the same time...

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NSE removes Satyam from Nifty Index w.e.f Jan 12

Posted on: Wednesday, January 7th 2009 and is filed under Press Releases.

The National Stock Exchange (NSE) has removed Satyam Computer Services from the Nifty Index with effect from January 12, 2008. Satyam, the NSE said, will be replaced by Reliance Capital. ...

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SEBI orders probe into Satyam market operations

Posted on: Wednesday, January 7th 2009 and is filed under Stock News.

MUMBAI: Startled by the disclosure of fudging of accounts by Satyam founder B Ramalinga Raju, market regulator SEBI on Wednesday ordered probe into share market operations and inspection of the IT company. “SEBI has ordered an investigation into the affairs relating to buying, selli...

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Private sector shed 693,000 jobs in December: report

Posted on: Wednesday, January 7th 2009 and is filed under Press Releases.

NEW YORK (Reuters) – Private employers shed 693,000 jobs in December, up sharply from the revised 476,000 jobs lost in November and far more than economists estimated, a report by a private employment service said on Wednesday. The median of estimates from 20 economists surveyed by ...

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Fraud to take Satyam stock to Rs 10: Shankar Sharma

Posted on: Wednesday, January 7th 2009 and is filed under Press Releases.

Ramalinga Raju, Chairman of Satyam resigned from the Satyam board today, reports CNBC-TV18. He wrote a letter to the Satyam board admitting that the IT major’s balance sheet has an inflated cash and bank balance of Rs 5,040 crore. Appalled at the recent development market experts r...

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