SEBI slams the door on non-compliant FIIs<br />Over 500 foreign portfolio investors were barred from trading in the Indian stock market from Friday for their failure to comply with a SEBI norm required to invest in the country. <br />197 foreign institutional investors (FIIs) and 342 sub-accounts have not complied with the ‘broadbase structure<br />The regulator also received applications from some of the non-compliant entities for surrender of registration. <br />
Tata Motors plans $525m share sale<br />Tata Motors is likely to launch a $525-million to institutional on Friday<br />In June, Tata Motors had planned to raise about $1.1 billion through a combination of , , and other equity-linked instruments to cut debt and grow its business<br />The company, which had net debt of about $4 billion on its books at the end of March 2010, has reduced its debt-to-equity ratio to 2.05 from 4 in March 2009<br />
RBNL raises Rs 283.25 cr; allots 3.33 cr shares<br />raised Rs 283.25 crore by allotting a total of over 3.33 crore shares to potential investors and promoters of the company<br />The allotment of balance shares as approved by the shareholders will be considered after receipt of relevant approval from<br />The board of the company had last month approved the allotment of up to 5 crore equity shares of the company at a price of Rs 85 per equity share<br />
RIL cuts offshore crude output<br />Reliance Industries has cut crude oil output at an offshore field by 29% after wells were unable to sustain a higher rate of production<br />The oil field is part of the KG-D6 block, India’s biggest natural gas producing area, where full output of the cleaner- burning fuel has been delayed because of inadequate pressure<br />Reliance produced 304,349 tonnes of crude oil from the area in the three months ended June 30, according to a July 27 statement. That’s equivalent to an average 26,700 barrels a day.<br />
L&T sells 2.4% stake in Satyam for $66 million<br />Indian engineering conglomerate Larsen & Toubro has sold 2.4 percent stake in Mahindra in September<br />Larsen raised 2.95 billion rupees ($66.3 million) from the stake sale and now holds 2.16 percent in Satyam.<br />L&T had built a 12 percent holding in Satyam, but the expansion of share capital following the takeover meant it held 6.9 percent in Mahindra Satyam<br />
Nifty may find support at 5300 level<br />The started Wednesday’s trade on a rather timid note. As the underlying index was quietly drifting downwards, the futures started trading at a deeper discount of nearly 10 points<br />with 195 crore shares in open interest. With nearly 70% of the stocks still trading with a premium<br />The fall amid global uncertainties has brought the Nifty once again to the level of 5400<br />
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