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  • Nomura keeps Bharat Heavy Electricals at 'reduce', cautions on earnings

    Nomura keeps Bharat Heavy Electricals at 'reduce', cautions on earnings

    Nomura maintained its rating on Bharat Heavy Electricals Ltd (BHEL) at "reduce" and also retained its target price at 174 rupees, warning the company is at the start of a "bad" earnings cycle as orders won during a time of rising competition and lower utilisation would further hurt margins.

  • TPG sells 10% stake in Shriram Transport Finance for Rs 1600 crore

    TPG sells 10% stake in Shriram Transport Finance for Rs 1600 crore

    TPG Capital, which held its stake in Shriram Transport Finance Company through Newbridge India Investment Ltd, sold 2.26 crore shares (amounting to 9.98 per cent stake) in the firm, as per data available with stock exchanges. The shares were sold on an average price of Rs 715.15 valuing the deal size at Rs 1,612 crore, data showed.

  • Sebi to get tough with companies with high promoter holding

    Sebi to get tough with companies with high promoter holding

    About 200 listed companies with promoter stake of more than 75 per cent are set for some tough talk from Sebi, which is mulling options including monetary penalties and eventual delisting of non-compliant entities.

  • Diageo inks $2.1 billion deal with Mallya's United Spirits

    Diageo inks $2.1 billion deal with Mallya's United Spirits

    Diageo Plc has agreed to buy a majority stake in United Spirits Ltd, controlled by Vijay Mallya, for $2.1 billion, fuelling a push by the world's biggest spirits group into fast-growing markets.

  • IndusInd picks banks for $250-$300mn share sale: sources

    IndusInd picks banks for $250-$300mn share sale: sources

    IndusInd Bank has picked three banks including Morgan Stanley and Asia-Pacific brokerage CLSA for a sale of shares that could raise between $250 million and $300 million, two sources with direct knowledge of the matter said.

  • Rakesh Jhunjhunwala firm buys DB Realty shares worth Rs 11 crore

    Rakesh Jhunjhunwala firm buys DB Realty shares worth Rs 11 crore

    Ace investor Rakesh Jhunjhunwala's Rare Enterprises acquired 12.50 lakh shares of D B Realty in a deal worth over Rs 11 crore through open market on Friday.

  • Srei Infrastructure sells 38% stake in Quippo Prakash for $122 million

    Srei Infrastructure sells 38% stake in Quippo Prakash for $122 million

    Private sector lender Srei Infrastructure Finance (SIFL) today said it has sold its 38 per cent stakes in the derrik lay barge Quippo Prakash to a Malaysian firm SapuraKencana for a realisation of USD 122 million.

  • Godrej exits JV with Hershey

    Godrej exits JV with Hershey

    Hershey Co plans to buy the remaining 49 percent in its Indian joint venture with Godrej Industries Ltd that it does not already own, giving it full control of a chocolate business in one of the world's biggest markets.

  • JSPL completes CIC Energy acquisition, to pump $700 mn in Botswana

    JSPL completes CIC Energy acquisition, to pump $700 mn in Botswana

    Jindal Steel and Power (JSPL) today announced completion of its acquisition of CIC Energy and said it will invest up to $700 million in next 3 years for setting up facilities at the Canadian firm's properties in Botswana.

  • Bombay HC bars Deccan Chronicle from selling Mumbai property on Tata Capital's plea

    Bombay HC bars Deccan Chronicle from selling Mumbai property on Tata Capital's plea

    In an arbitration petition filed by Tata Capital against Deccan Chronicle Holdings Ltd (DCHL) for recovery of Rs 101 crore loan, the Bombay High Court, on Tuesday, restrained DCHL from selling or disposing of its building in Lower Parel area of Central Mumbai.

  • Kingfisher lenders seek presentation from Mallya by Sept-end

    Kingfisher lenders seek presentation from Mallya by Sept-end

    The lenders have asked the airline to strengthen its security base, and have sought a presentation from chairman Vijay Mallya on how he plans to turn around the airline's fortunes, sources said.

  • Anil Ambani-led Reliance Capital ready for banking foray

    Anil Ambani-led Reliance Capital ready for banking foray

    Reliance Capital, the financial services arm of Anil Ambani-led group, today said it has got sufficient resources for entering the banking sector and it is awaiting regulatory guidelines to make the move.

  • Tech Mahindra buys Hutch's India call centre for $87 mn

    Tech Mahindra buys Hutch's India call centre for $87 mn

    Software services provider Tech Mahindra said on Tuesday it has bought Hutchison Whampoa Ltd's back-office call centre business in the country for $87.1 million.

  • JSW Steel falls on concerns over earnings dilution

    JSW Steel falls on concerns over earnings dilution

    Shares in India's No. 3 steelmaker JSW Steel Ltd fell 0.4 per cent on worries over earnings and value dilution as a result of the merger with JSW Ispat Steel Ltd.

  • Tata Motors up after in-line August sales, Daiwa upgrade

    Tata Motors up after in-line August sales, Daiwa upgrade

    Shares in Tata Motors gained as much as 2.2 per cent after August vehicle sales were in line with market expectations while domestic sales growth surprised positively.

  • JSW Steel merges with JSW Ispat

    JSW Steel merges with JSW Ispat

    JSW Ispat is to be merged with JSW Steel, the boards of directors of the steel major decided on Saturday. The Steel-Ispat merger is in the ratio of 1:72, a share of JSW Steel for 72 shares of JSW Ispat.

  • UBS downgrades axis bank to 'neutral' from 'buy'

    UBS downgrades axis bank to 'neutral' from 'buy'

    UBS downgraded Axis Bank to "neutral" from "buy", citing "increasing" quality risks, "muted" earnings growth and a 28 per cent share price increase in the Indian lender so far this year.

  • Citi cuts Reliance to 'neutral' on earnings outlook

    Citi cuts Reliance to 'neutral' on earnings outlook

    Citigroup has downgraded Reliance Industries to "neutral" from "buy", but raised its target price to Rs 847 from Rs 818.

  • Sesa Goa-Sterlite merger 'best in class' - J.P.Morgan

    Sesa Goa-Sterlite merger 'best in class' - J.P.Morgan

    J.P. Morgan has initiated coverage of Sesa Goa with an "overweight" rating and a September 2013 target price of Rs 240.

  • Digitisation: Broadcasters, cable TV distributors gain as govt rules out extension

    Digitisation: Broadcasters, cable TV distributors gain as govt rules out extension

    Shares in cable TVS distributor Hathway Cables and Datacom traded 5 per cent higher at Rs 181.80 while Dish TV gained 1 per cent. Dish TV, BAG Films and Sun TV shares also traded higher.

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