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
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
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
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.
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
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.
Fiat may not meet sales target set
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.
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
Spyker Cars to make India debut
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.