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Morgan Stanley in a Research Note said that the Price of Reliance Communications will fall within the next 30 days. Excerpts as follows, The stock has traded up recently, making short term valuation much less compelling. RCOM is up 50% in absolute terms from its lows in the last month, outperforming the market by 11%. … Read more Reliance Communications price will fall relative to the country index
India’s exports may continue to fall through the first half of FY10, according to the trade secretary on Monday. He also said that exports in March may have fallen by 31%, sixth straight decline in exports. Exports during the full fiscal 2008-09 would probably reach the downwardly revised figure of $170 billion. However, the next … Read more Exports may continue to fall through H1 FY10
We have received fax from our reporter about the recently concluded board meeting of India’s largest retailer – Pantaloon Retail India Ltd in which the board has approved to change the name of this listed entity to Future Markets and Consumer Group Limited. Further, it will raise Rs2.8bn through a preferential allotment to promoters / … Read more Pantaloon Renamed as Future Markets and Consumer Group Limited
Tata Power Company has decided to approach the Supreme Court after the Delhi High Court earlier today dismissed its plea contesting the Empowered Group of Ministers’ (EGoM) decision to allow the Anil Dhirubhai Ambani Group-led Reliance Power to use surplus coal from its captive mines of Sasan ultra mega power project (UMPP) for other projects. … Read more Tata Power to approach SC against Reliance Power Sasan UMPP case
Equity funds experienced net inflows of Rs5.2 billion for the second consecutive month, while fixed income funds witnessed outflows of Rs989 billion – the worst ever since the data on mutual funds were made available in October 1999. Equity inflows are down by 92% on a 12-month basis, compared to the same period last year. … Read more Equity Funds Find Flavor in March
SAL Services Pvt Ltd (“Manager to the Offer”) on behalf of Mr. G. R. Surana, Mr. Shantilal Surana, Mr. Vijayraj Surana, Mr. Dineshchand Surana, Mrs. Chandanbala Surana, Mrs. Saraladevi Surana, Mrs. Alka Surana and Mrs. Vasantha Surana (“Acquirers”), has issued this Public Announcement (“PA”) to the shareholders of Surana Industries Ltd (“Target Company”) pursuant to … Read more Surana Industries – Open Offer