Month: November 2009

JIK Industries opens retail outlet in South Mumbai

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JIK Industries has informed that it has opened a retail outlet in South Mumbai of crystal and glassware products which form a part of Luxury Goods segment, inspired by world art glass designs and combining them with Indian traditional craft. JIK is the single largest and sole producer and distributor of branded, hand-made, lead-free crystal … Read more JIK Industries opens retail outlet in South Mumbai

Epicenter of Financial Crisis shifts to Dubai – Bloodbath in Asian Equities

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The Epicenter of Financial crisis has now shifted to Dubai as the Dubwai World congolmerate has defaulted on loans and $60 bn loans are vulenrable which could send banks profitablity knocking down. [None of the Indian Banks have exposure to Dubai World]

Cautious investors continued to unwind their positions in the late afternoon trades to avoid a big hole in their investment portfolios. The selling pressure was evident across the board with leadership from realty, metal and banking counters. It was looking like a free fall in the benchmark indices as they were not responding to any crucial support.

Read moreEpicenter of Financial Crisis shifts to Dubai – Bloodbath in Asian Equities

Core sector growth slows to 3.5% in October

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India’s infrastructure growth slowed down in October, hinting a possible slowdown in overall industrial activity as well. The Index of six core industries having a combined weight of 26.7 per cent in the Index of Industrial Production (IIP) with base 1993-94 stood at 254.8 (provisional) in October 2009, up 3.5% compared with the same month last year.

The growth was higher than the 2.0% expansion that the core sector registered in October 2008, but lower than 4.1% growth in the previous month. Cumulative growth during the April-October 2009-10 period stood at 4.7% (provisional) as against 3.3% growth achieved during the corresponding period of the previous fiscal.

Read moreCore sector growth slows to 3.5% in October

Suzlon’s Australian arm bags 42 MW order from Infigen Energy

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Suzlon Energy’s Australian operation arm — Suzlon Energy Australia Pty Limited — has entered into agreement with Infigen Energy, a leading specialist renewable energy business for delivery of wind turbine generators (WTGs). As per agreement, Suzlon will deliver 20 units of its S88-2.1 MW WTGs that will be installed at one of the wind farms … Read more Suzlon’s Australian arm bags 42 MW order from Infigen Energy

Insider Trading – Reliance Mukesh Ambani Vs Rajaratnam of Galleon Hedge Fund – Difference is SEBI

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Reliance Industries Ltd led by Mukesh Ambani has been charged with Insider Trading of Reliance Petroleum prior to its merger with RIL in 2007. Now Business Line reports that,

The company has proposed a payment of Rs 2 crore towards settlement of the case, sources confirmed. SEBI is understood to have assessed the gains from the alleged insider trading at Rs 513 crore.

Is it notevident that RIL under Mukesh Ambani is accepting to the charges and that is why they have proposed a settlement of Rs 2 cr for making  Insider Trading profits of Rs 513 cr [USD 110 mn].

Read moreInsider Trading – Reliance Mukesh Ambani Vs Rajaratnam of Galleon Hedge Fund – Difference is SEBI