Entries Tagged 'Bse India' ↓

Reliance Energy Name Change has been approved by the members of the board and the Reliance Energy will be now called as Reliance Infrastructure Limited. They will seek the final approval from the shareholders. Reliance Energy has issued the following statement to the exchanges regarding the Reliance Energy name change

“Reliance Energy Ltd is the largest private player in the electricity sector across the entire value chain (generation, transmission, distribution, trading and EPC). However, over the past two and half years, the Company has emerged as a leader in all areas of infrastructure business. The new name “Reliance Infrastructure Ltd” will adequately reflect the current nature of the businesses in the Company fold and in line with the Company’s vision to tap and play a vital role in the emerging potential in the country for infrastructure development”. Reliance Energy is currently: • Largest private power sector EPC player in the country with order book of over 8,000 crore. • Largest power transmission infrastructure developer in private sector including the Western Region Strengthening System, (WRSS) the only 100% owned power Transmission project to be developed by private player in the country. • Largest private sector metro rail project developer in the country with 12km VAG corridor in Mumbai and 22.7 km airport link in Delhi • Largest concessionaire for NHAI and building over 400 kms of road highway projects. • Preferred bidder to construct the 25 km long, country’s longest, bridge over sea link (MTHL) in Mumbai. Apart from the above REL is constructing the country’s tallest 100 storey corporate park in Hyderabad and has plans for setting SEZ in Noida and Mumbai and is in advanced stages of bidding for several metro, airports, highway and energy distribution projects across the country. “The new name reflects the branding philosophy followed by the ADA Group, where name signifies the space in which business operates and create a sharper brand presence among the stakeholders”. “The name change will not affect any of the rights of the Company or the shareholders of the Company”, the official added.

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Sensex is expected to cross the 21000 mark soon according to most of the analysts, with the FED announcing the rate cut of 25 bps yesterday, more funds are expected to come into the emerging markets like India and China. Sensex will cross the next mark of 21000 before the next meeting of US Central bank in Jaunary where markets are in a view that FED will cut another 25 basis point of interest rate.

Sensex has gained close to 450 points in the past two days and today settled above the 20,000 mark for the second consecutive day.

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JK Investo Trade India, has previously announced that the company has passed the resolution of delisting of equity shares from the Bombay Stock Exchange at their AGM held on June 13, 2007.

The Board has fixed the offer price for the De listing of JK Investo Trade India Shares from the BSE. Floor Price of Rs. 170 per equity share will be paid to the share holders of the company.

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According to the internal study made by the finance ministry has found that there were no surveillance or regulatory problems when the Bombay Stock Exchange (BSE) benchmark index touched new highs recently.

The rally was confined only to selected stocks and there is no spurt in all the stock prices. Many stocks in the Mid cap and small cap segment remain un moved. These are some of the findings of a study undertaken by the North Block on the Sensex’s journey from 12,000 to 18,000.

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Indian Stock Markets are likely to remain volatile on Friday as market participants are yet to absorb the ripples created by SEBI’s proposal to clamp down participatory notes.

Most of the local Stock broking concerns are in a veiw that till the P-Note issue is clear and resolved, there will be no fresh buying from the foreign investors.

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The Sensex today recorded 654 points at close,its biggest ever rally in its history, surpassing the 615.62 points gain it had recorded on June 15, 2006. Thanks to the 50 basis points cut in US bank rates and the resultant sharp surge in stocks prices across the globe, had a sweet impact on the major Indian stock exchanges today.

The mood was so upbeat even before trading commenced this morning that the Sensex opened with a very big positive gap of around 271 points at 15,940.79, well past its previous best of 15,868.85 recorded on July 24, 2007. The barometer crossed the 16,000-mark in a flash and added over 300 points after that as buying continued unabated in blue chip stocks right till the end of the session.

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