Et news Manminder 21nov


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Et news Manminder 21nov

  1. 1. Manminder Singh MBA 2C
  2. 2. Foreign funds turn net sellers for first time in 25 weeks Foreign funds sold stocks worth $88 million this week, a first in about 25 weeks, sending strong signals of consolidation at Indian equities markets for the coming sessions. While the flow of overseas money has swelled to record levels, recent weeks have also seen stocks tumble, soon after benchmark indices soared to their highest levels. According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors (FIIs) were net sellers to the tune of $88.29 million for the week ended Nov 19,2010
  3. 3. CIL is India's third most valued firm; mcap at Rs 2,09, 671 cr State-run Coal India has become the third most powerful Indian company with a total market capitalisation (m-cap) of Rs 2,09,671.57 crore and is only lagging behind RIL and ONGC. The coal behemoth added another feather to its cap last week when it replaced IT giant TCS to become the country's third most coveted firm. CIL added Rs 7,611.21 crore to its valuation, which on Friday stood at Rs 2,09,671.57 crore.
  4. 4. ICICI Bank expects 18 per cent credit growth in 2010-11 Country's largest private lender ICICI Bank has said that its credit will grow at a hefty 18 per cent this fiscal, contrary to a meagre 1.8 per cent expansion in the first half, largely on account of buoyant corporate and retail businesses. It may be recalled that ICICI Bank had posted a 19 per cent growth in net profit to Rs 1,236.27 crore during the second quarter. In the same period a year ago, it had witnessed a flat growth at Rs 1,040.13 crore.
  5. 5. Fiat may not meet sales target set for 2010 Having sold only 24,000 units till October in a highly competitive environment, Fiat India has that the company may not meet the sales target of 46,000 units set for 2010. The company had targeted doubling its sales in 2010 to 46,000 units from 23,000 units sold in 2009.
  6. 6. Commercial property sees resurgence in demand Commercial realty is now gaining in demand, the recession is a thing of the past, companies are hiring and expanding. It was in the doldrums all over the country for a while, but now the scenario is very different, the outlook is optimistic, and in Pune there is definite reason to cheer. The SEZ and STPI stock is huge, but since prices are reasonable, corporates are leasing space for both back office and front office demand.
  7. 7. Spyker Cars to make India debut next year The car that sizzled with Sharon Stone in Hollywood thriller 'Basic Instinct 2', Spyker is headed for India, all set to enter here by next year. The Netherlands-based Spyker Cars has already shortlisted potential partners to import its vehicles and two dealerships are expected to come in the National Capital and Mumbai.