EIH , owner of the Oberoi and the Trident hotel chains said it would issue rights shares, sparking speculation that the promoters as well as the Mukesh
recently bought over 14.8% in the company, could buy unsubscribed portion of the issue to raise their holdingsAmbani-controlled Reliance group
On August 30, RIL bought the stake which was later scaled up to 14.8%
EIH shares closed 1% down at 136.7 on Monday. The stock, in fact, has fallen substantially from the 52-week high of 180.8 recorded on August 31.
Sensex breaches 20k, Nifty 6000
The bulls continued to rule the Indian bourses and took the Sensex past the 20k mark Tuesday.
the Bombay Stock Exchange’s benchmark Sensex traded at 20,051.90, higher by 145.80 points or 0.73 per cent. The 30-share index opened the day at 19,925.79 against Monday’s close of 19,906.10. The index recorded a high of 20,088.96.
Nifty breached the 6k mark to touch 6014.55, advancing by 34.1 points or 0.57 per cent
Connect to pump in Rs.150 cr. To expand broadband and business
Connect is investing Rs.150 cr. In Punjab to expand its broadband business.
HFCL infotel brand already invest 1500 cr. in se broadband ,CDMA and landline service.
Company expanding its optical fiber network 4500km to 5000km to cover more area .
Acquisition between Connect and Videocon will open all circle for connect for which Videocon has license.
Indian IT created 7000 jobs in U.S. in Aug.
Indian IT companies created 7000 jobs in U.S. in last month.
2.5 lakh jobs over the last three years
Nasscom president Som Mittal had wanred that if working in U.S. become pain then $50b
IT industry set another business model to create job in India.
Sensex hits MT 19k after 32 months
Indian shares have entered a new bull market with a 20% gain from 2010 lows and so have other emerging market as investors from developed nations chase returns.
This may continue as central banks keep interest rates of record lows.
These rates are forcing investors to borrow at cheap prices and invest in emerging markets.
Ford plans to launch 8 new vehicle, make India export hub
Ford plans to launch 8 new models in India by mid decade.
India’s auto market is fast growing.
This is to make an export hub.
Company MD michael Borreham said the company has to be there in small car segment.