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Like many macro variables, the Oct 09 reading of the NCAER’s Business Confidence Index (BCI)1 indicates that sentiment is returning to pre-crisis levels. The index rose 21.2% on a QoQ basis and 19.8% on a YoY basis. While the uptrend can be attributed to seasonality (Oct is the festive season), it is supported by trends … Read more Business Confidence Index: Up 21.2%QoQ
GVK currently holds 12%, which it acquired at Rs4.85B (US$100M) from Zurich Airport. We see potential to hike its stake to controlling levels of 44-49% in a few quarters from now, as it may take over the share of L&T (17%, via ZA) and Siemens (40%, partly locked in). GVK has publicly stated its intent to do so.
Post this purchase, GVK would have 2 operating airports including Mumbai, 3 operating power projects of 881MW in AP and Jaipur-Kishengarh expressway.
Peninsula Land, part of Ashok Piramal Group has received Rs. 275 crore from Alok Realtors Private Limited on November 19, 2009 for sale of 6.41 lakh sq. ft at Peninsula Business Park, Tower ‘B’, Lower Parel in Mumbai. Of the total deal consideration of Rs 1,100 crore, the company has received a sum of Rs … Read more Peninsula Land receives Rs 275 crore from Alok Realtors
Foreign institutional investors (FIIs) were net sellers of Rs 459.18 crore (provisional) in the spot market on Thursday, as per information posted on the BSE website. While FIIs made gross purchases of Rs 2,056.64 crore, their gross sales stood at Rs 2,515.82 crore.
On the other hand, domestic institutional investors (DIIs) were net buyers of Rs 116.79 crore (provisional) on the same day. While DIIs made gross purchases of Rs 1,235.81 crore, their gross sales aggregated Rs 1,119.02 crore.
Read moreFIIs net sellers of Rs 459.18 cr (prov) in the spot market on Thursday
KEC International (KEC), a global leader in the power transmission EPC business and an RPG Group company, has won a rural electrification order in the state of Madhya Pradesh and a substation order in Ghana Africa.
The rural electrification order comes from the Madhya Pradesh Madhya Kshetra Vidyut Vitaran Company (MPMKVVCL) under the RGGVY programme in the district of Morena.
Capital market regulator Securities and Exchange Board of India (SEBI) has hinted that it may reduce the time required for IPO processing to seven days from 20 days at present over the next one year. ‘The listing time should come down to seven days… primary market is still somewhat inefficient compared to the secondary market,’ … Read more SEBI likely to reduce IPO processing to 7 days