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.

I think it really justifies the name change of Reliance Energy as the core projects of all Reliance Energy will now anyway handled by Reliance Power Limited. And now it would be interesting to see they transfer all the projects of Reliance Power to a new company and list that company.

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.

“The markets are going to rally from here onwards. Gain of 500 or more points is not a big thing now a days as the base of the market has increased. A level of 21,000 for Sensex and 6,500 for Nifty is quite achievable,” domestic brokerage firm SMC Global vice-president Rajesh Jain said.

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.

The shares will be picked from the open market and the Floor price is fixed as Rs. 170.

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.

The Sensex crossed the 12,000-mark for the first time on April 20, 2006. It crossed the 18,000, mark on October 09, 2007. Interestingly, more than a quarter, or 25%, of the listed stocks declined during this period, with the rally remaining confined to the top 30 scrips. The rise in mid and small-cap stocks was around 5% of the overall movement. The study, which analysed the movement of the index and the investment pattern, as it crossed each 1,000-point milestone, has revealed that the investment pattern remained the same during the rise. But, many promoters were found to be partly selling their stakes, taking advantage of the bull run. 
 

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.

Finance Minister P Chidambaram, Speaking at an investor meet at New York Thursday,reassured investors that proposed curbs on overseas investments are aimed at moderating the inflows and not a ban on funds. The Securities & Exchange Board of India will meet  on October 25 to decide new rules to limit the use of offshore derivatives to invest in Indian stocks.

On Thursday the Foreign institutional investors pulled out Rs 1130.59 crore from the markets and the Domestics Institutions in India have bought a net of Rs 96 crore as per the NSE data.

Yesterday Reliance Industries and Wipro Technologies have posted good set of second quarter earnings. It is need to be seen whether it could cheer the market sentiment, which has turned sour on account of the participatory notes issue.

A breach of 5226 levels on Nifty may take it down to 5060 with some support at 5120. Below 4995, the short and intermediate term trend will turn weak. To signal strength in the markets Nifty futures must trade above 5475 and above 5620 to signal bullishness.

It is not advised for the Retail Investors to enter into the markets because of the extreme volatility in the markets.

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.

While the Sensex, which recorded a new all-time high of 16,335.30, ended the day at 16,322.75 with a whopping gain of 653.63 points or 4.17%, the Nifty, which hit a high of 4739, settled at 4732.35 with a gain of 4.09% or 186.15 points.

Buying was so strong and widespread that all the sectoral indices ended with impressive gains today.

Realty index up by 5.77%
Oil & Gas index up by 5%
Bankex advanced by 4.84%.
Auto, Metal, PSU and Teck indices ended stronger by 3.4% - 3.85%.