Entries Tagged 'Stock News' ↓

Finally iPhone Lovers can get hold their favorite phone thanks to Vodafone. The company has today announced that it has signed an agreement with Apple to sell the iPhone in ten of its markets around the globe. Later this year, Vodafone customers in Australia, the Czech Republic, Egypt, Greece, Italy, India, Portugal, New Zealand, South Africa and Turkey will be able to purchase the iPhone for use on the Vodafone network.

Prices of the iphone in India and the other offer details are not yet made public by the mobile group. So keep hold of your finance and postpone your decision to buy a new mobile for a month or so, if you like to grap the new Iphone.

Reliance Petroleum Limited was the highly traded script in the cash and derivatives market as the news came in that the Reliance Industries had sold 4.01 per cent stake in the Reliance Petro for Rs. 4203 crore. Reliance Petroleum counter lost 2.6 percent on the BSE on Tuesday and the total turnover in the cash market was Rs. 1780 crore and on the derivatives segment the script’s turonover was Rs. 1891 crore. Invesotrs are in a view that the stock price could even come down as they beleive that the script may be overvalued as the Parent company Reliance Industries has offloaded some stake from the company and their is news that Chevron also may put its stake under sale.

In a bid to take the fight to the other Mobile companies who operate under the GSM Category, previously Reliance Communications has applied for the GSM license to the Department of Telecommunications.

In this regard Reliance Communications has recieved necessary approvals from the DOT to offer nation-wide GSM Services under its existing Unified Access Service License.

Reliance is a CDMA operator and is intending to convert its existing GSM Licenses in seven circles into unified access service.

Shares of Reliance Communications reacted positively to the new and the shares were last trading up Rs 3.55 , or 0.5% at Rs 715.00 on the BSE irrespective of the markets being volatile.

Reliance Energy Limited and Tata Power are among the nine others who are contending for the 4,000 MW Krishnapatnam Ultra Mega Power Plant in Andhra Pradesh. The last date for the submission of price bids for the krishnapatnam project is October 24, 2007.

Power Finance Corporation which is the regulatory authority for the UMPP projects has extended the last date for accepting the bids previously on several ocassions and this time the final date is fixed as October 24th.

Other companies believed to have submitted the bids are Sterlite Industries, Essar Power, Larsen and Toubro, CLP-GMR.

Reliance Power the subsidary of REL and which will shortly go to the IPO has recently bagged the Sasan Ultra Mega Power Project in Madhay Pradesh, where as the Tata Power being awarded the Mundra UMPP in Gujarat.

It would be interesting to see which company would be awarded the Krishnapatnam Power Plant, market sources hugely showing signals that the project would be awarded to Reliance power of (REL).

Power major Tata Power has said that it will invest Rs 6,000 crore to generate 1300 mw electricity in Jharkhand in the next three to four years.

The Jharkand Power Plant is expected to be commissioned by mid of 2009 and the new plant will be having a capacity of 120mw for which Tata Power will be investing Rs 640 Crore. The company’s future investment plans in Jharkhand included 2×120 mw power  plants in a period of three-four years.

However the completion of the project would depend on the allotment of land and coal blocks linkage to the power plant, for which the company has already applied to the Goverment and received assurance of allotment from the government.

Stock of Tata Power rallied today to close at Rs 1,097.90 up (12.03%) from its previous close Rs 980.

Real Estate Major DLF is planning to enter the Telecom sector with Pan India License and is in talks with Global wireless players like AT&T and Singtel for tie ups in telecom venture.

Sources believe that the initial investment for DLF Telecom venture is going to be around Rs 1,400 -1,500 crore to acquire telecome licenses. Company will not dilute any equity in DLF to raise capital for the DLF Telecom and the company likes to be a finacial investor in the Joint Venture and would not take the Management of the new company.

Based on the news the stocks is today up and is quoting at Rs 757 up 2.08% and has touched an intraday high of Rs 765.

Reliance Energy scaled to 52 week high of Rs 1189 today and at 1.14 pm the stock is trading at Rs 1,166.10 ,up Rs 48.95 or 4.38%.

The market sources are speculating that Reliance Energy is soon going to file DRHP with SEBI for Reliance Power IPO through which it is likely to raise around USD 2.5-3 billion. News is also that the company has fixed Book running lead managers as Kotak Mahindra Capital and JM Financials Ltd.

Reliance Power is a 51% subsidiary of Reliance Energy with an outstanding order book estimated at Rs 5000 crore. Reliance Power has recently bagged the Sasan Power Project from the Government and is also looking to bid for more Power Projects.

Reliance Energy shares closed yesterday at Rs 1117.25 up 8.87%.