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Weekly news presentation 12

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Weekly news presentation 12

Weekly news presentation 12

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    Weekly news presentation 12 Weekly news presentation 12 Presentation Transcript

    • Weekly presentation 12
    • Top 10 firms shed over Rs 1 lakhcrore in a week, SBI loses most
      Amid Sensex tumbling over four per cent in a week, the ten most valued companies witnessed a wealth erosion of a whopping Rs 1 lakhcrore last week, with the country's largest lender State Bank of India emerging as the biggest loser
      The Bombay Stock Exchange barometer Sensex declined by 4.03 per cent or 848 points at 20,156.89, making the top ten firms in terms of market capitalisation lose Rs 1,05,271.24 crore
      SBI was the worst hit with a value erosion of Rs 29,155.57 crore last week; it slipped to the fifth spot from the third position in the elite club of ten most valued firms. 
    • Sebi suspects growing insider trading trend; ups vigil
      Suspecting an uptick in the insider trading activities in the recent market rally, Sebi has enhanced its surveillance for possible violations of rules prohibiting trading based on prior and inside information. 
      The market watchdog has come across over two dozen instances of major suspected violations of insider trading norms during the recent rally to new record levels above 21,000 level and the subsequent correction last week
      Suspecting an uptick in the insider trading activities in the recent market rally, Sebi has enhanced its surveillance for possible violations of rules prohibiting trading based on prior and inside information. 
    • Reliance Infra Q2 net surges 11% to Rs 360 cr
      Anil Ambani group company Reliance Infrastructure today reported a growth of 10.95% in net profit at Rs 360.18 crore for the July-September quarter. It had posted a net profit of Rs 324.63 crore during the same period last year. 
      Total operating income of the company was Rs 4,042.59 crore for the quarter ended September 30, a growth of about 2% as compared to Rs 3,974.46 crore it had reported during the same quarter of 2009-10
      The order book of the company for its EPC (engineering, procurement and contract) business was Rs 24,000 crore at the end of the July-September quarter, the company said in a statement. The EPC division of the company is working on 6 power projects of over 7,500 MW along with 6 road projects
    • $320-mn SCI share sale to open by early Dec
      Shipping Corporation of India's $320 million share sale is likely to hit the market in the last week of November or early December, its chairman SabyasachiHajara told reporters on Saturday. 
      The firm expects to receive regulatory approval for the follow-on public offer in a couple of days, following which it will file the final copy of the red-herring prospectus with the registrar of companies, said Hajara, who is traveling to the UK and the US next week for roadshows. 
      The government will sell a 10 per cent stake in the shipping services firm and the company will issue another 10 per cent of fresh equity. 
      India plans to sell stakes in Indian Oil Corp , ONGC and Steel Authority of India Ltd in the last quarter of this fiscal year ending in March. 
    • Vedanta Group firm seeks rule relaxation for SEZ
      Vedanta Group firm Sterlite Energy has sought relaxation in SEZ rules to benefit its power plant in Orissa which needs to transport coal through Vedanta Aluminum's special economic zone
      Under the commerce ministry rules, all activities within a special economic zone must be directly related to its operations. 
      The group firm Sterlite Energy has set up a 2400 MW power plant adjacent to Vedanta Aluminum's SEZ. 
      While the SEZ needs to meet its energy requirement from the Sterlite power plant, the latter requires 17 lakh ton coal annually. The movement of coal from the mines to the power plant can take place through a rail link which must pass through the non-processing area of the aluminum SEZ
    • IOC net profit surges 17 fold to 5,294 crore
      State-run Indian Oil Corp or IOC, the country’s largest fuel retailer , has reported a 17-fold jump in net profit for the quarter ended September 30 due to higher refinery margin and timely subsidy support from the government. 
      The profit for the current quarter could be achieved mainly due to government compensation of 7,220 crore approved for both the quarters 
      Robust profit in the quarter is also due to increased refining margins, he added. IOC’s gross refining margin was $6.63 a barrel in the quarter compared to $3.62 a barrel in the same quarter last year
    • Mahindra to double output of its small tractor Yuvraj
       Auto major Mahindra & Mahindra today said it will double the production of its small tractor Yuvraj, dubbed as the Nano of the farm sector, as it looks at a national roll-out next year. 
      Priced at Rs 1.75 lakh, the 15 horse power tractor was launched targetting to upgrade farmers who are still relying on bullocks. 
      At present the Yuvraj is available only in Gujarat and Maharashtra. Now we are test marketing in Tamil Nadu, Karnataka, Rajasthan and Uttar Pradesh
      As it looks to strengthen its hold in the country's farm equipment sector, the company has also initiated the Mahindra Samriddhi India Agri Awards to recognise the best practices in Indian agriculture.