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Sebi suspends Reliance broking co for 4 months
The Securities and Exchange Board of India (Sebi) has suspended Reliance Shares and Stock Broking (RSSB) — part of the Reliance-Anil Dhirubhai Ambani Group (R-ADAG) for four months for series of lapses in its broking operations that took place more than six years ago.
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Infy now aims for slot in global top 4
A WEEK before its inclusion in the elite Nasdaq-100 index, home-grown tech major Infosys Technologies provided an inkling into the scale of its ambitions by outlining its goal to be among global top four technology firms, a slot now occupied by Microsoft, Google, Oracle and SAP.
Without specifying a deadline for the target, CEO and MD Nandan Nilekani said it was part of the longterm aspiration of the company. Infosys is growing its revenues at about 40% annually while its global legacy peers are showing single-digit growth rates.
Tata Consultancy Services, its closest rival and number one software services firm out of India, has set a target of being among the global 10 companies by 2010 with revenues of $10 billion.
With its inclusion in the Nasdaq-100, Infosys will become a mainstream stock, be a part of global index funds and be covered more extensively by the analyst community, CFO V Balakrishnan said. Its recently completed ADS offering for $1.6 billion improved its stock float to 20% facilitating its inclusion in the Nasdaq-100. It is the second Asian firm to be included in the index and the ninth non-US firm.
Bajaj Hindustan to raise $80mn for capex
Bajaj Hindusthan Ltd. said on Tuesday it has signed an agreement to raise $80 million for capital expenditure and acquisitions. Ten banks participated in the syndicated loan facility that carries an average maturity of five years, the company said in a statement.
Indiabulls ups stake in real estate arm to 50.5%
Indiabulls Financial Services Ltd. said on Tuesday it has raised its stake in Indiabulls Real Estate Co. Pvt. Ltd. to 50.5 percent through conversion of debentures.
Mauritius-based FIM Ltd., managed by Farallon Capital Management LLC based in San Francisco, holds 49.5 percent in the real estate firm., it said in a statement.
The Securities and Exchange Board of India (Sebi) has suspended Reliance Shares and Stock Broking (RSSB) — part of the Reliance-Anil Dhirubhai Ambani Group (R-ADAG) for four months for series of lapses in its broking operations that took place more than six years ago.
To Read MoreClick Here
Infy now aims for slot in global top 4
A WEEK before its inclusion in the elite Nasdaq-100 index, home-grown tech major Infosys Technologies provided an inkling into the scale of its ambitions by outlining its goal to be among global top four technology firms, a slot now occupied by Microsoft, Google, Oracle and SAP.
Without specifying a deadline for the target, CEO and MD Nandan Nilekani said it was part of the longterm aspiration of the company. Infosys is growing its revenues at about 40% annually while its global legacy peers are showing single-digit growth rates.
Tata Consultancy Services, its closest rival and number one software services firm out of India, has set a target of being among the global 10 companies by 2010 with revenues of $10 billion.
With its inclusion in the Nasdaq-100, Infosys will become a mainstream stock, be a part of global index funds and be covered more extensively by the analyst community, CFO V Balakrishnan said. Its recently completed ADS offering for $1.6 billion improved its stock float to 20% facilitating its inclusion in the Nasdaq-100. It is the second Asian firm to be included in the index and the ninth non-US firm.
Bajaj Hindustan to raise $80mn for capex
Bajaj Hindusthan Ltd. said on Tuesday it has signed an agreement to raise $80 million for capital expenditure and acquisitions. Ten banks participated in the syndicated loan facility that carries an average maturity of five years, the company said in a statement.
Indiabulls ups stake in real estate arm to 50.5%
Indiabulls Financial Services Ltd. said on Tuesday it has raised its stake in Indiabulls Real Estate Co. Pvt. Ltd. to 50.5 percent through conversion of debentures.
Mauritius-based FIM Ltd., managed by Farallon Capital Management LLC based in San Francisco, holds 49.5 percent in the real estate firm., it said in a statement.
posted by SY at 12:30 PM
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