Mauling on the Street leaves cash-rich stocks quoting at a bargain

In a market that has squeezed out the excesses, a tidy bunch of cash- rich companies are quoting at a bargain. Take the case of Power Trading Corporation of India, which fell 74 per cent from its 52-week high of Rs 201 to Rs 56. The power trading firm has cash and cash equivalents (C&CE) of Rs 1,450 crore. With (more…)

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It’s not as if the markets needed more bad news, The global financial crisis reached a crescendo in the first fortnight of October as markets across the world tumbled like nine pins. With liquidity turning scarce, foreign institutional investors have pulled out in excess of $9 billion from the Indian markets, resulting in the benchmark Sensex plummeting 48 per cent since the beginning of this year. (more…)

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1) 3i Infotech

3i Infotech has allotted 5,350 equity shares to the applicants under Employee Stock Option Scheme, 2000 (ESOS).
These shares were allotted by the company on 20 October 2008. (more…)

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Realty firm’s telecom unit could seal $1.4-bn deal by weekend.
A leading European telecom giant is set to acquire a little over 43 per cent stake in Unitech’s telecom venture for $1.4 billion. According to highly-placed sources close to the deal, the legal documentation is (more…)

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Infy pips TCS to bag $15-m US bank order

INFOSYS Technologies has bagged an order from the Union Bank of California, US, for its core banking solution (CBS) Finacle, beating its rival Tata Consultancy Services (TCS). According to sources, Infosys and TCS were the only two shortlisted vendors for this project. What is surprising is that only these two (more…)

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We said ‘Technically the market still looks weak and is likely to continue its move down and is likely to move down to its target of 11900 and if it manages to close below 11900 then the next technical targets on the way down are 11150. The market has strong resistance at 13200 on the way up.’ (more…)

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For coming week again expected some positive trend in market for coming week market is high volatile we expected some volatile coming in next week For coming week sensex important Support is at 10050 weekly basis sensex resistance is at 10800-10950-11220 above this next important resistance is at 11450 if (more…)

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It was investors’ worst nightmare come true past fortnight as blue-chip assets turned into dust. Markets round the world underwent a savage fall as the global financial services sector went into a tailspin, drying up liquidity - so essential to keep the wheels of the economy oiled and running (more…)

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Wall Street tumbled on Monday, joining a selloff around the world, as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the US and other governments. The credit market remained under strain, and investors piled into government bonds. The Dow Jones industrials skidded more than 300 points and fell below 10,000 for the first time in four years. (more…)

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2007 saw investors making big bucks with 9 out of 10 major public issues helping rake in the moolah. But 2008 has been quite the opposite! Out of the 40 companies that were listed this year, 32 are trading below their issue prices (i.e. at lower prices than was offered to the public), a Times of India analysis shows. (more…)

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