New Delhi: The merger of Mukesh Ambani group firms Reliance Petroleum (RPL) with Reliance Industries (RIL) would take about five months to be completed, Ernst & Young, the deal’s valuation advisor, has said. “The procedure for approvals of these mergers involve getting ap…

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Indiabulls Securities Research has maintained its hold rating on Zee Entertainment Enterprises with a target of Rs 114 in its February 27, 2009 research report. “For Q3’09, Zee Entertainment Enterprises Limited (Zee) reported a weaker- than-expected performance owing to the operat…

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Karvy Stock Broking has maintained its buy rating on Tata Steel with price target of Rs 270 in its March 3, 2009 research report. “Tata Steel’s Corus and other subsidiaries have reported EBIDTA of Rs 28.6 billion during Q3FY2009, which is 26% and 65% lower on YoY and QoQ respe…

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MUMBAI: Market expectations were dashed after stand-in finance minister Pranab Mukherjee presented an interim budget for FY09-10 which was merely a statement of accounts. Traders had built positions in beaten down sectors like realty, banks, capital goods and …

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Ex-Dawnay Day top team to set up co: The former senior management of Dawnay Day AV Financial Services, led by MD and group CEO Arpit Agarwal — who had quit a month ago, is now in the process of setting up an investment company. The venture is believed to be backed by a group of foreig…

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Fed Chairman Bernanke raised eyebrows (and, briefly, the market) last week when said there’s a “reasonable prospect” the economy will bottom this year and be in recovery in 2010. But Berkshire Hathaway’s Warren Buffett disagrees: The economy “will be in sham…

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The polling for electing a new Union government and the next Lok Sabha would be held between April 16 and May 13, Chief Election Commissioner, N Gopalaswami, announced here today. Counting will be held on 16 May. By the morning of 17 May, a new Lok Sabha – India’s 15th – will have t…

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NEW DELHI: Reliance Industries will displace US energy major Chevron Corp to become the 13th largest oil refining company in the world after its board approved plans to absorb its Reliance Petroleum unit. …

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Mumbai: The country’s top-10 firms lost over Rs 21,000 crore from their market capitalisation in February, with Reliance Industries alone accounting for close to half of the value erosion from the elite club. The valuation of Mukesh Ambani-led Reliance Industries dipped below Rs 2,0…

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The Anglo-Asian group says it took a hit of US$10.6bn owing to goodwill impairment on its North American personal financial services operations Excluding the write-down, HSBC says its 2008 pre-tax profit fell 18% to US$19.9bn. …

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