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LVMH, the world's biggest luxury group, posted forecast-beating fourth-quarter comparable sales on Friday, boosted by strong Christmas trading, and proposed a higher dividend on the back of a record year
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Myanmar Prime Minister Thein Sein was chosen on Friday to become the military-run country's first civilian president in half a century, a government source said, a cosmetic shift that does little to end the army's dominance in politics.
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Prime Minster Manmohan Singh said on Friday that high headline inflation is beginning to pose a serious threat to India's high growth plans, in one of his strongest warnings over the risk of rising prices.
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As Indian companies farm out across the globe chasing business where they can through a slew of M&As and joint ventures, stodgy Indian banks are spreading following suit, as much to retain clients as to chase profits
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World number two truck maker Volvo posted a smaller-than-expected rise in fourth-quarter earnings on Friday, hit by problems as output was ramped up, but raised its market outlook for its main markets.
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Admitting that inflation posed a serious threat to the growth momentum affecting the poor and vulnerable sections, Prime Minister Manmohan Singh today favoured waiving mandi, octroi and local taxes, which impede the smooth movement of essential commodities.
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Two funds of asset management and security services company Bank of New York Mellon has picked 3.6% stake in Apollo Hospitals for Rs 204.75 crore (USD 44 million).
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The benchmark Sensex shed over 200 points in trade today despite quiet global cues at 14 hours. Technology, telecom, private banking, power, FMCG, auto (barring Tata Motors), healthcare and metal (except Tata Steel) dragged the Nifty below 5500 level.
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Sushil Finance is bullish on Ipca Laboratories and has recommended buy rating on the stock with a target of Rs 360 in its January 31, 2011 research report.
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Unitech touched an intraday high of Rs 46 and an intraday low of Rs 43.80. At 13:57 hrs the share was quoting at Rs 43.95, down Rs 2.45, or 5.28%.
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S Kumars Nationwide touched an intraday high of Rs 70.65 and an intraday low of Rs 65.50. At 13:52 hrs the share was quoting at Rs 69.20, up Rs 3.55, or 5.41%.
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Tata Consultancy Services (TCS) was among major losers on the Sensex. It touched an intraday high of Rs 1,183 and an intraday low of Rs 1,145.60. At 13:35 hrs the share was quoting at Rs 1,149, down Rs 35.80, or 3.02%.
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Leading property developer True Value Homes (TVH) has launched a Rs 800 crore residential and integrated township project in Coimbatore, reports The Financial Express. The multifaceted Aurora Township offers premium villas, high-rise residences, malls and shopping centres and 1600-seat, eight-screen multiplexes.
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Tata Power Company touched a 52-week low of Rs 1,184. At 13:33 hrs the share was quoting at Rs 1,187, down Rs 40.60, or 3.31%.
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Godrej Properties on Monday announced the launch of its mixed-use project 'The Trees' in Vikhroli, Mumbai. Talking about the project Pirojsha Godrej, ED, Godrej Properties, said, "It is a 60:40 profit sharing JV agreement between Godrej Properties, which will get 60% of the profits and Godrej Industries, which will get 40% of the profits."
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Mumbai-based realty firm DB Realty slumped by over 8% to a lifetime low of Rs 142.65 a share on the BSE on Friday, hit by an Economic Times report. The report states that CBI is scrutinising the transfer of over Rs 200 crore by the company to Kalaignar TV in FY09-10, which came to light during investigations into the allocation of 2G spectrum.
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In an interview with CNBC-TV18, Puravankara Projects' CEO Jack Bastian Nazareth pointed out that Venezia, Skywood and Provident projects contributed to revenue this quarter. "The quarter-on-quarter sales value is up 50% and the volumes too have increased by 39%. The sales realisations also have increased by 10% QoQ," he explained.
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The Supreme Court has imposed a Rs 10-lakh fine on a land owner for repeatedly approaching courts to scuttle acquisition of land by Karnataka government for the Rs 2,500 crore Bangalore-Mysore Infrastructure Corridor Project, reports The Financial Express.
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With the real estate developers turning to smaller towns and cities in north for development, the realty prices are expected to surge this year. The development of infrastructure and availability of land at cheaper rates are attracting the developers to set up projects in these cities, a report in FE states, quoting market experts.
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The reigning confusion over Telangana has meant that the real estate market in Hyderabad is caught in a catch-22 situation, a report in The Financial Express pointed out. The city remains doubtful if Hyderabad's (Telangana) loss will become Visakhapatnam's (Andhra) gain.
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Emkay Global Financial Services is bullish on Greaves Cotton and has recommended buy rating on the stock with a target of Rs 111 in its February 3, 2011 research report.
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Delhi BJP has demanded Rs 10,000 crore in the budget for providing basic amenities to the unauthorised colonies in the national capital, says a report in The Financial Express. "This came into place in an unlawful manner, allegedly by paying bribes to government servants and politicians," the report stated.
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Sicagen India has reported a sales turnover of Rs 178.06 crore and a net profit of Rs 3.84 crore for the quarter ended Dec '10
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Eskay Knit has reported a sales turnover of Rs 222.73 crore and a net profit of Rs 0.96 crore for the quarter ended Dec '10
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Krishna Lifestyle Technologies has reported a sales turnover of Rs 154.74 crore and a net profit of Rs 1.28 crore for the quarter ended Dec '10
