India Shares Investment Blog » India News

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Prema Kher — Thu, 02 Sep 2010 13:44:10 +0000

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Ketan Sharma — Thu, 02 Sep 2010 13:42:27 +0000

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.

Fundraising Plans Let RBNL Hold Higher Position in Trading

Sunil Kashyap — Thu, 02 Sep 2010 13:41:14 +0000

The Anil Dhirubhai Ambani Group’s fraction, Reliance Broadcast Network Ltd. traded at a good level, by remaining at Rs. 116 on Thursday at the Bombay Stock Exchange.

The scrip started at 4.98% better than its preceding close, which is a day after the firm said that it was going to raise R, 400 crore in funds.

Post the closure of stock markets on Monday, RBNL said that its board has approved an offer concerning raising funds worth Rs. 400 crore via preferential issue of equity shares to the promoter association and other shareholders.

Rupee Maintains Its Strong Position at the Hand of Dollar’s Weak Spot

Ketan Sharma — Thu, 02 Sep 2010 13:39:56 +0000

With mild gains in the local share market and Dollar’s weakened spot, helped rupee maintain its impetus by being on the stronger side of its value on Thursday.

The partially changeable rupee remained at 46.77/78 per dollar which is at 1:56 pm, with an opening of 46.75 and on Wednesday, it closed at 46.805/815.

Wipro Scion Names His Elder Son as the CSO of the Company

Sunil Kashyap — Thu, 02 Sep 2010 13:36:12 +0000

Azim Premji, who is the billionaire tycoon and the founder and Chairman of Wipro Ltd. from India, has named his elder son as the Chief Strategy Officer of the information technology business.

Rishad Premiji has taken his office from 1st September, but his appointment is going to be in effect by next year’s January and the 33 year old is going to work with Lakshminarayan K. R., who is the Managing Head of Strategy, handling mergers and acquirements for the IT business.