The FIIs on Tuesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs2,312.70 Crore and the gross debt purchased was Rs159.30 Crore while the gross equity sold stood at Rs2,3645.00 Crore and gross debt sold stood at Rs33.40 Crore. Therefore, the net investment of equity reported was (Rs332.30) Crore and net debt was Rs125.90 Crore.
Thursday, July 31, 2008
Financial Technologies Informes Acquisition Of Apian Finance & Investment Ltd - July 31, 2008
Financial Technologies India Ltd has informed that the Company has acquired Apian Finance & Investment Ltd, a RBI Registered NBFC at a cost of Rs 1.50 Crores.
Wednesday, July 30, 2008
FII Activity On 29-07-2008 - July 30 , 2008
The FIIs on Tuesday stood as net seller in equity and debt. The gross equity purchased was Rs1,696.80 Crore and the gross debt purchased was Rs33.50 Crore while the gross equity sold stood at Rs2,306.10 Crore and gross debt sold stood at Rs323.00 Crore. Therefore, the net investment of equity reported was (Rs609.30) Crore and net debt was (Rs289.50) Crore.
Monday, July 28, 2008
FII Activity On 25-07-2008 - July 28 , 2008
The FIIs on Friday stood as net buyer in equity and debt. The gross equity purchased was Rs3,927.10 Crore and the gross debt purchased was Rs90.50 Crore while the gross equity sold stood at Rs3,370.80 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs556.30 Crore and net debt was Rs90.50 Crore.
Friday, July 25, 2008
Serial Blasts Rock Bangalore
A woman was killed and at least six people were injured in a series of six low-intensity blasts carried out in eastern parts of the information technology capital this afternoon.
The woman, who was waiting at a bus shelter in Madivala on the Bangalore-Hosur road, was killed in the blast and her husband and another person were seriously injured, police said.
Bangalore was rocked by a major terrorist attack in December, 2005 when extremists opened fire in the famous Indian Institute of Science complex in which a Delhi IIT professor lost his life.
There were also blasts in other areas like Panthrapalya, Audugodi and Vittal Mallya Road within minutes of each other from the first blast at around 1330 hours.
Police Commissioner Shankar Bidari appealed to the people of the city to maintain calm and carry on with their normal life as police have been put on alert throughout the city.
He said timer device has been used in some of the blasts and explosives in quantity equivalent to one or two hand grenades have been used in some others.
Bidari termed it as an "act of miscreants" trying to disturb peace in Bangalore and appeared pre-planned. "We will get to the criminals and arrest them," he said.
Bomb disposal squads and forensic experts have rushed to the spot for investigations.
Chronology of some recent major bomb blasts in the country:
May 13, 2008: Eight serial blasts rock Jaipur in a span of 12 minutes leaving 65 dead and over 150 injured.
January 2008: Terrorist attack on CRPF camp in Rampur kills eight.
October 2007: 2 killed in a blast inside Ajmer Sharif shrine during Ramadan, in Rajasthan.
August 2007: 30 dead, 60 hurt in Hyderabad 'terror' strike.
May 2007: A bomb at Mecca mosque in Hyderabad kills 11 people.
February 19, 2007: Two bombs explode aboard a train bound from India to Pakistan, burning to death at least 66 passengers, most of them Pakistanis.
September 2006: 30 dead and 100 hurt in twin blasts at a mosque in Malegaon.
July 2006: Seven bombs on Mumbai's trains kill over 200 and injure 700 others.
March 2006: Twin bombings at a train station and a temple in Varanasi kill 20 people.
October 2005: Three bombs placed in busy New Delhi markets a day before Diwali kill 62 people and injure hundreds.
The woman, who was waiting at a bus shelter in Madivala on the Bangalore-Hosur road, was killed in the blast and her husband and another person were seriously injured, police said.
Bangalore was rocked by a major terrorist attack in December, 2005 when extremists opened fire in the famous Indian Institute of Science complex in which a Delhi IIT professor lost his life.
There were also blasts in other areas like Panthrapalya, Audugodi and Vittal Mallya Road within minutes of each other from the first blast at around 1330 hours.
Police Commissioner Shankar Bidari appealed to the people of the city to maintain calm and carry on with their normal life as police have been put on alert throughout the city.
He said timer device has been used in some of the blasts and explosives in quantity equivalent to one or two hand grenades have been used in some others.
Bidari termed it as an "act of miscreants" trying to disturb peace in Bangalore and appeared pre-planned. "We will get to the criminals and arrest them," he said.
Bomb disposal squads and forensic experts have rushed to the spot for investigations.
Chronology of some recent major bomb blasts in the country:
May 13, 2008: Eight serial blasts rock Jaipur in a span of 12 minutes leaving 65 dead and over 150 injured.
January 2008: Terrorist attack on CRPF camp in Rampur kills eight.
October 2007: 2 killed in a blast inside Ajmer Sharif shrine during Ramadan, in Rajasthan.
August 2007: 30 dead, 60 hurt in Hyderabad 'terror' strike.
May 2007: A bomb at Mecca mosque in Hyderabad kills 11 people.
February 19, 2007: Two bombs explode aboard a train bound from India to Pakistan, burning to death at least 66 passengers, most of them Pakistanis.
September 2006: 30 dead and 100 hurt in twin blasts at a mosque in Malegaon.
July 2006: Seven bombs on Mumbai's trains kill over 200 and injure 700 others.
March 2006: Twin bombings at a train station and a temple in Varanasi kill 20 people.
October 2005: Three bombs placed in busy New Delhi markets a day before Diwali kill 62 people and injure hundreds.
Intel To Double Its Investment In India - July 25 , 2008
In December 2005, Intel''s boss Craig Barrett received a red carpet welcome in India. Then, the IT minister Dayanidhi Maran, was wooing the tech major to set up a fab facility but that did not happen.
But Barrett, instead, launched the Intel capital fund to invest in tech start-ups. But the fund was never really aggressively active. However under the new team, Intel is refocusing on the fund. This is advantage for technology companies as Intel is not just looking at making twice the number of investments that it made last year, it is also increasing the size of the investment. Intel believes that it will double the number of investments in India.
Last year Intel Cap invested in 5 companies and so far in 2008, it has already the invested in 6 companies. Intel wants to close the year with at least 10 investments.Intel is clear the investments will only be made in companies that have synergy with the tech major. A string of new companies have been the big beneficiaries, buzzintown.com, yatra.com and Emnet Emergency electronic security.Unlike globally, in India, the best synergies for Intel are coming at the mid and late stage of companies and clearly that''s where the focus will be.
But Barrett, instead, launched the Intel capital fund to invest in tech start-ups. But the fund was never really aggressively active. However under the new team, Intel is refocusing on the fund. This is advantage for technology companies as Intel is not just looking at making twice the number of investments that it made last year, it is also increasing the size of the investment. Intel believes that it will double the number of investments in India.
Last year Intel Cap invested in 5 companies and so far in 2008, it has already the invested in 6 companies. Intel wants to close the year with at least 10 investments.Intel is clear the investments will only be made in companies that have synergy with the tech major. A string of new companies have been the big beneficiaries, buzzintown.com, yatra.com and Emnet Emergency electronic security.Unlike globally, in India, the best synergies for Intel are coming at the mid and late stage of companies and clearly that''s where the focus will be.
Thursday, July 24, 2008
FII Activity On 23-07-2008 - July 24, 2008
The FIIs on Wednesday stood as net seller in equity. The gross equity purchased was Rs2,264.40 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,654.90 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs390.50) Crore and net debt was Rs0.00Crore.
Tuesday, July 22, 2008
FII Activity On 21-07-2008 - July 22 , 2008
The FIIs on Monday stood as net buyer in equity. The gross equity purchased was Rs2,988.40 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,399.20 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs589.20 Crore and net debt was Rs0.00 Crore.
Glenmark All Set For US Acquisition - July 22, 2008
Glenmark Pharmaceuticals (Glenmark), the Rs 1,978-crore company, is mulling to buy a medium to large-scale speciality pharmaceutical company in the US. Glenmark has already authorized merchant bankers to identify suitable targets.
Glenmark is present in the US generic segment through its subsidiary Glenmark Pharmaceuticals Inc (GPI), which is the front-end business unit for Glenmark Generics (GGL), Glenmark''s generic arm. The acquisition in the US will be made by Glenmark Pharmaceuticals, which has branded and novel research drugs under development.
The US is the largest drug market in the world and accounts for almost half of the global drug sales of more than $700 billion. In the past, Glenmark acquired Laboratorios Klinger in Brazil, Bouwer Bartlett, a sales and marketing company in South Africa, and Medicamenta, a pharmaceutical marketing and manufacturing company in the Czech Republic.
Glenmark is present in the US generic segment through its subsidiary Glenmark Pharmaceuticals Inc (GPI), which is the front-end business unit for Glenmark Generics (GGL), Glenmark''s generic arm. The acquisition in the US will be made by Glenmark Pharmaceuticals, which has branded and novel research drugs under development.
The US is the largest drug market in the world and accounts for almost half of the global drug sales of more than $700 billion. In the past, Glenmark acquired Laboratorios Klinger in Brazil, Bouwer Bartlett, a sales and marketing company in South Africa, and Medicamenta, a pharmaceutical marketing and manufacturing company in the Czech Republic.
Monday, July 21, 2008
Fii Activity On 18-07-2008 - July 21, 2008
The FIIs on Friday stood as net buyer in equity. The gross equity purchased was Rs2,939.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,403.70 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs535.80 Crore and net debt was Rs0.00Crore.
Friday, July 18, 2008
FII Activity on 17-07-2008 - July 18, 2008
The FIIs on Thursday stood as net seller in equity and in debt. The gross equity purchased was Rs2,693.00 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,903.50 Crore and gross debt sold stood at Rs168.10 Crore. Therefore, the net investment of equity reported was (Rs210.50) Crore and net debt was(Rs168.10) Crore
Dubai group invests Rs 100 cr in Avendus - July 18, 2008
Avendus Advisors Pvt Ltd (AAPL) has raised Rs 100 crore to fund its expansion in the financial services arena. The money has been raised through a fresh issue of shares to Dubai-based Eastgate Capital Group.
As part of the arrangement between the two, Eastgate Capital's director Rajiv Nakani will join the Avendus board.
According to Ranu Vohra, managing director and CEO, Avendus Capital, the development is purely an investment into the equity of the company. "We have been getting into newer businesses where the capital requirement is more. The funds raised will be utilised to strengthen the newly-launched institutional broking business besides undertaking international expansion particularly in the US and Europe amongst others," Vohra said.
While the company's primary activity includes advising clients on mergers and acquisitions (M&A), Avendus has been expanding into new services including the creation of a corporate debt and special solutions group that undertakes distressed asset financing and structured financing.
The M&A space, according to company officials, constitute about 70% of deals and the balance is primarily in private equity syndication. Specialising in cross-border deals the company has been primarily focusing on the US market with close to 90% of the transactions happening there. However, the management now plans to aggressively target the European market for cross-border M&As.
For Eastgate, the investment into Avendus marks its entry into the Indian market.
"Indian market is looking very interesting in terms of investments and we certainly will have more in the pipeline. The target companies for our investments will primarily be unlisted entities and the term of investment will be around 10 years," Nasr-Eddine Benaissa, co-managing partner, Eastgate Capital, said.
Licensed by the Dubai Financial Services Authority (DFSA), ECG is a private equity subsidiary of NCB Capital. The company currently has $800 million in commitments under management across its three funds.
As for its investment plans in India, ECG will primarily focus on consumer centric sectors like education, healthcare, IT and ITeS. Vohra said the company will also benefit from Eastgate's expertise.
Vohra said that while acquisitions are an option, it will be done only on a case to case basis. "We will primarily look at organic growth," he said. To a query on whether the funds being raised is a pre-IPO placement, Vohra said, "Going public is not in the pipeline though it will happen sometime at a very later stage."
As part of the arrangement between the two, Eastgate Capital's director Rajiv Nakani will join the Avendus board.
According to Ranu Vohra, managing director and CEO, Avendus Capital, the development is purely an investment into the equity of the company. "We have been getting into newer businesses where the capital requirement is more. The funds raised will be utilised to strengthen the newly-launched institutional broking business besides undertaking international expansion particularly in the US and Europe amongst others," Vohra said.
While the company's primary activity includes advising clients on mergers and acquisitions (M&A), Avendus has been expanding into new services including the creation of a corporate debt and special solutions group that undertakes distressed asset financing and structured financing.
The M&A space, according to company officials, constitute about 70% of deals and the balance is primarily in private equity syndication. Specialising in cross-border deals the company has been primarily focusing on the US market with close to 90% of the transactions happening there. However, the management now plans to aggressively target the European market for cross-border M&As.
For Eastgate, the investment into Avendus marks its entry into the Indian market.
"Indian market is looking very interesting in terms of investments and we certainly will have more in the pipeline. The target companies for our investments will primarily be unlisted entities and the term of investment will be around 10 years," Nasr-Eddine Benaissa, co-managing partner, Eastgate Capital, said.
Licensed by the Dubai Financial Services Authority (DFSA), ECG is a private equity subsidiary of NCB Capital. The company currently has $800 million in commitments under management across its three funds.
As for its investment plans in India, ECG will primarily focus on consumer centric sectors like education, healthcare, IT and ITeS. Vohra said the company will also benefit from Eastgate's expertise.
Vohra said that while acquisitions are an option, it will be done only on a case to case basis. "We will primarily look at organic growth," he said. To a query on whether the funds being raised is a pre-IPO placement, Vohra said, "Going public is not in the pipeline though it will happen sometime at a very later stage."
Thursday, July 17, 2008
Bosch will invest Rs 2,300 cr - July 17, 2008
German auto component giant Bosch is betting big on India. The company has committed investments of Rs 2,300 crore till 2010 in India. It is bringing in many advanced products and technologies that are currently available only in European markets.
These products include anti-lock braking systems (ABS), electronic stability programmes (ESP) that prevent vehicles from skidding on wet surfaces, direct injection systems that improve fuel efficiency, and second-generation common rail diesel systems that are being tested on the Tata Nano.
In ABS and ESP, Bosch hopes to become one of the largest suppliers in India by March next year after production of these products begins at its Chakan facility.
Managing director V K Viswanathan said though ABS is not mandatory for vehicles in India, multinational car companies are installing it not only in luxury cars, but also small cars like Hyundai i10. "We are setting up a dedicated facility at Pune for catering to the demand."
Currently, Hyundai sources ABS systems from Bosch's South Korean arm and Honda from Bosch worldwide. The new Toyota Corolla may soon source these systems from Bosch India.
On second-generation common rail diesel systems, Viswanathan said the Scorpio CRDe 2.2 and Swift Dzire cars already use Bosch's systems in India. The company is modifying these for the Tata Nano, with supply beginning next year. He said the company is contemplating a foray into ultra quiet alternators and multimedia car navigation systems. The former may be manufactured at Bosch's facility near Bangalore.
The group has four companies in India — Bosch Ltd (earlier Mico), Bosch Rexroth, Bosch Chassis and Bosch Engineering and Business Solutions. The group's turnover last year was $1.3 billion.
Viswanathan said he expected the company's topline to grow 20-25% year-on-year. Of the Rs 2,300 crore investment it has planned, Rs 850 crore has been pumped in during the last two years.
Bosch's auto component business contributes 82-84% to its topline. But its non-auto businesses are growing at a much faster clip of 30-35%, he said. The non-auto businesses include electronic power tools, security technology, packaging machines, hydraulics and pneumatics and packaging machines.
These products include anti-lock braking systems (ABS), electronic stability programmes (ESP) that prevent vehicles from skidding on wet surfaces, direct injection systems that improve fuel efficiency, and second-generation common rail diesel systems that are being tested on the Tata Nano.
In ABS and ESP, Bosch hopes to become one of the largest suppliers in India by March next year after production of these products begins at its Chakan facility.
Managing director V K Viswanathan said though ABS is not mandatory for vehicles in India, multinational car companies are installing it not only in luxury cars, but also small cars like Hyundai i10. "We are setting up a dedicated facility at Pune for catering to the demand."
Currently, Hyundai sources ABS systems from Bosch's South Korean arm and Honda from Bosch worldwide. The new Toyota Corolla may soon source these systems from Bosch India.
On second-generation common rail diesel systems, Viswanathan said the Scorpio CRDe 2.2 and Swift Dzire cars already use Bosch's systems in India. The company is modifying these for the Tata Nano, with supply beginning next year. He said the company is contemplating a foray into ultra quiet alternators and multimedia car navigation systems. The former may be manufactured at Bosch's facility near Bangalore.
The group has four companies in India — Bosch Ltd (earlier Mico), Bosch Rexroth, Bosch Chassis and Bosch Engineering and Business Solutions. The group's turnover last year was $1.3 billion.
Viswanathan said he expected the company's topline to grow 20-25% year-on-year. Of the Rs 2,300 crore investment it has planned, Rs 850 crore has been pumped in during the last two years.
Bosch's auto component business contributes 82-84% to its topline. But its non-auto businesses are growing at a much faster clip of 30-35%, he said. The non-auto businesses include electronic power tools, security technology, packaging machines, hydraulics and pneumatics and packaging machines.
Wednesday, July 16, 2008
FII Activity on 16-07-2008 - July 16, 2008
The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,020.10 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,232.30 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs212.30) Crore and net debt was Rs0.00 Crore.
Tuesday, July 15, 2008
FII Activity on 14-07-2008 - July 15, 2008
The FIIs on Monday stood as net seller in equity. The gross equity purchased was Rs2,420.10 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,730.40 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs310.30) Crore and net debt was Rs0.00 Crore.
Friday, July 11, 2008
FIIs On Thursday - July 11, 2008
The FIIs on Thursday stood as net seller in equity and in debt. The gross equity purchased was Rs2,555.80 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,843.50 Crore and gross debt sold stood at Rs15.00 Crore. Therefore, the net investment of equity reported was (Rs287.70) Crore and net debt was (15.00) Crore.
Thursday, July 10, 2008
FIIs On Wednesday - July 10, 2008
The FIIs on Wednesday stood as net buyer in equity. The gross equity purchased was Rs2,333.80 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,165.30 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs168.50 Crore and net debt was 0.00 Crore.
Wednesday, July 9, 2008
FII Activity On Tuesday - July 9, 2008
The FIIs on Tuesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs1,782.10 Crore and the gross debt purchased was Rs1,432.70 Crore while the gross equity sold stood at Rs2,102.00 Crore and gross debt sold stood at Rs427.30 Crore. Therefore, the net investment of equity reported was (Rs319.90) Crore and net debt was Rs1,005.40 Crore.
Tuesday, July 8, 2008
FII Activity On Monday - July 8, 2008
The FIIs on Monday stood as net buyer in equity and in debt. The gross equity purchased was Rs3,008.90 Crore and the gross debt purchased was Rs2,083.80 Crore while the gross equity sold stood at Rs2,476.20 Crore and gross debt sold stood at Rs441.50 Crore. Therefore, the net investment of equity reported was Rs532.70 Crore and net debt was Rs1,642.30 Crore.
Friday, July 4, 2008
FIIs On Thursday - July 4, 2008
The FIIs on Thursday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs3,468.10 Crore and the gross debt purchased was Rs294.90 Crore while the gross equity sold stood at Rs3,818.60 Crore and gross debt sold stood at Rs74.20 Crore. Therefore, the net investment of equity reported was (Rs350.40) Crore and net debt was 220.70 Crore.
Thursday, July 3, 2008
Investors Not To Invest In Unit-Linked Insurance Plans - July 3, 2008
Volatility in stock markets is taking a charge on the sales of unit-linked insurance plans (Ulips) that account for over 80 per cent of the industry''s total sales.
The latest data released by the Insurance Regulatory and Development Authority (Irda) explain that during April and May this year, premium from the sale of new policies increased to Rs 8,119 crore compared with Rs 7,331 crore, representing an increase of 10 per cent.
In the first two months of 2007-08, the industry had registered a 25 per cent increase in the first premium income. Insurance company executives said purchasers were staying away from Ulips, which are insurance-cum-investment policies with 90-95 per cent of the corpus invested in stock markets. Premium from the sale of individual single-premium policies declined 3.2 per cent to Rs 1,508 crore as against Rs 1,559 crore in the year-ago period. In contrast, income from new individual regular-premium policies grew 8.7 per cent to Rs 4,928 crore during April-May this year.
The main reason for industry''s lower growth was a 17 per cent drop in Life Insurance Corporation''s first premium income.
The latest data released by the Insurance Regulatory and Development Authority (Irda) explain that during April and May this year, premium from the sale of new policies increased to Rs 8,119 crore compared with Rs 7,331 crore, representing an increase of 10 per cent.
In the first two months of 2007-08, the industry had registered a 25 per cent increase in the first premium income. Insurance company executives said purchasers were staying away from Ulips, which are insurance-cum-investment policies with 90-95 per cent of the corpus invested in stock markets. Premium from the sale of individual single-premium policies declined 3.2 per cent to Rs 1,508 crore as against Rs 1,559 crore in the year-ago period. In contrast, income from new individual regular-premium policies grew 8.7 per cent to Rs 4,928 crore during April-May this year.
The main reason for industry''s lower growth was a 17 per cent drop in Life Insurance Corporation''s first premium income.
Wednesday, July 2, 2008
GSPC To Invest Rs 400cr In 11 New Blocks - July 2, 2008
Gujarat State Petroleum Corporation (GSPC) has appeared as provisional winners in as many as eleven blocks in the seventh round of New Exploration Licensing Policy (NELP VII). The state PSU is targeting to invest over $ 100 million (Rs 400 crore) initially for exploration of these blocks eight of which are offshore. In all 96 companies submitted bids for the 45 blocks, with 19 of them getting single bids and 26 others attracted multiple bids. Of the offshore blocks, GSPC has secured one block in KG Basin which is adjacent to its existing block KG-17 well, which is one of the most significant discoveries for the company. Of the eight offshore blocks, GSPC has secured three in Mumbai and two potential blocks in Cambay basin.
The FIIs On Tuesday - July 2, 2008
The FIIs on Tuesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs2,865.00 Crore and the gross debt purchased was Rs171.70 Crore while the gross equity sold stood at Rs3,092.20 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs227.20) Crore and net debt was 171.70 Crore.
Tuesday, July 1, 2008
The FIIs on Monday - June 1, 2008
The FIIs on Monday stood as net seller in equity and debt. The gross equity purchased was Rs3,348.60 Crore and the gross debt purchased was Rs105.00 Crore while the gross equity sold stood at Rs4,094.70 Crore and gross debt sold stood at Rs366.70 Crore. Therefore, the net investment of equity reported was (Rs746.20) Crore and net debt was (Rs261.70) Crore.
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