Current news & Rumours in the mkt

[praveen taneja]

Economic and Political Headline
• The government approved Rs. 150.00 bn capital infusion in public sector banks (PSBs) in the current fiscal, a move that will increase the lending capacity of the banks by Rs. 1.85 tn. For the year 2010-11, a sum of Rs. 150.00 bn is to be infused in Tier I Capital Instruments of the PSBs. (BS)
• Sales of new homes surged 27% in March and orders for most durable goods climbed, indicating the US economy sped up heading into the second quarter. The gain in new-home sales was the biggest in 47 years as buyers rushed to qualify for a government tax credit and the weather improved, a Commerce Department report showed. (Bloomberg)
• UK economy grew half as much as forecast in the first quarter. Gross domestic product rose 0.2% from the final three months of 2009, when a 0.4% expansion ended the recession, the Office for National Statistics said in London. (Bloomberg)

 

[praveen taneja]

Its in news that ICICI is selling its stake in ICICI ventura for cash requirement one can sell with 978 sl I think profit loss all urs I am not trading this although

 

[praveen taneja]

ICICI Ventures Ltd plans to sell about 75% in Loyalty Solutions & Research Ltd- the creators of i-mint reward point for around Rs 100 cr.

It is rumored that the stake will be picked up by German company Loyalty Partner and Peepul Capital.

The transaction values the company at Rs 133 cr.

 

[praveen taneja]

ICICI 971 nowwwwwwwwww

 

[praveen taneja]

Value of 3G spectrum moved up by over Rs6bn to close at Rs76bn.




•Foreign exchange reserves rose by US$61mn to US$280bn for the week ended April 16. (BL)


•Centre has fixed the ‘fair and remunerative price' of sugarcane for the ensuing 2010-11 sugar season at Rs 139/quintal. (BL)


•Value of 3G spectrum moved up by over Rs6bn to close at Rs76bn. (BL)


•Cabinet gave its nod to infuse Rs150bn in public sector banks during 2010-11 to help them maintain capital requirements and boost their credit growth. (BL)


•Government is likely to increase tax on all forms of iron ore to 20%. (FE)


• IMD forecasts a normal monsoon across the country this year. (BS)


•RBI plans to free interest rates on certain segments of export finance. (BS)


•Government is considering a proposal to ease foreign direct investment rules in the retail sector. (BS)

 

[praveen taneja]

ICICI 971 nowwwwwwwwww

ICICI bank made 966 low so far now at 968:lol:

 

[praveen taneja]

Results Today:



Allied Digital,

AstraZeneca Pharma,

Bosch,

Geometric,

Godrej Consumer,

Indiabulls Financials,

Indoco Remedies,

Kiri Dyes,

Kirloskar Brothers,

Maruti Suzuki,

Religare,

Sterlite Industries,

Tata Metaliks

and Uco Bank.

 

[praveen taneja]

NEW YORK: The American banking industry continues to be shaky, with nearly 15 banks on an average biting the dust every month.


Notwithstanding healthy economic growth and rebound of Wall Street majors, a staggering 57 banks have been shut down so far this year and seven of them collapsed last Friday.

As many as 15 entities, most of them small and medium banks, have gone out of business in the last two weeks. So far this month, 16 banks have gone bust.

The failure of the seven banks last Friday is expected to cost the Federal Deposit Insurance Corporation (FDIC) as much as USD 973.9 million.

FDIC is the federal agency which insures deposits at over 8,000 American banks.

The latest ones to go belly up are New Century Bank, Broadway Bank, Wheatland Bank, Peotone Bank and Trust Company, Citizens Bank and Trust Company of Chicago, Lincoln Park Savings Bank and Amcore Bank, National Association.

The number of failures are expected to climb till the labour market situation becomes more steady.

Despite a quarterly economic growth of over five per cent and improving performance of Wall Street firms, small and medium banks continues to be hit by defaults due to high rate of unemployment.

Currently, the jobless rate is over nine per cent. Last month, 19 banks went bust while the count of failures touched seven in February. The authorities closed down shut down 15 banks in January.

A whopping 211 entities have collapsed since the bankruptcy of Lehman Brothers in September 2008.

( FORWARDED)

 

[praveen taneja]

NEW DELHI: Major realty firms of the country are under the probe of enforcement agencies for alleged violation of FDI terms and use of slush funds
.

While the Enforcement Directorate has carried out raids at premises of realty firm Emaar MGF for alleged violations of Foreign Exchange Management Act in the recent past, the latest to feel the ED heat was realty fund and developer IREO.

Sources said more number of firms are under the scanner and a detailed probe is underway. The Income Tax department has also conducted its operations and is now planning to delve deep into the tax statement of the realty firms.

 

[praveen taneja]

Reliance Capital Invests Rs 100Cr In Pathways - Reliance Capital Ltd, the private equity arm of Anil Ambani-led Reliance Industries, made its debut with Rs 100 crore investment in Pathways World School, a group of schools for students from kindergarten to Class XII. The quantum of stake the PE firm has picked up in the company was not disclosed. Pathways plans to utilise the fund in expanding its operation by setting up two more schools in the national capital region (NCR) centred on New Delhi. The company has earmarked an expenditure of Rs 350 crore, while the remaining Rs 250 crore will be raised through debt