The Dow Jones industrial average was up 28.64 points, or 0.17 percent, at 16,469.99. The Standard & Poor's 500 Index was down 0.62 points, or 0.03 percent, at 1,831.36. The Nasdaq Composite Index was down 11.16 points, or 0.27 percent, at 4,131.91.
Indian ADRs closed
higher on Friday. Among banks, ICICI Bank rose 0.5 percent to USD 36.18
per ADR and HDFC Bank was unchanged at USD 33.78.
Read more at: http://www.moneycontrol.com/news/indianadrs/indianadrsinfosyswiprorally3tatamotors1_1018889.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/indianadrs/indianadrsinfosyswiprorally3tatamotors1_1018889.html?utm_source=ref_article
Indian ADRs closed
higher on Friday. Among banks, ICICI Bank rose 0.5 percent to USD 36.18
per ADR and HDFC Bank was unchanged at USD 33.78.
Read more at: http://www.moneycontrol.com/news/indianadrs/indianadrsinfosyswiprorally3tatamotors1_1018889.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/indianadrs/indianadrsinfosyswiprorally3tatamotors1_1018889.html?utm_source=ref_article
Indian ADRs closed
higher on Friday. Among banks, ICICI Bank rose 0.5 percent to USD 36.18
per ADR and HDFC Bank was unchanged at USD 33.78.
Read more at: http://www.moneycontrol.com/news/indianadrs/indianadrsinfosyswiprorally3tatamotors1_1018889.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/indianadrs/indianadrsinfosyswiprorally3tatamotors1_1018889.html?utm_source=ref_article
Indian ADRs closed
higher on Friday. Among banks, ICICI Bank rose 0.5 percent to USD 36.18
per ADR and HDFC Bank was unchanged at USD 33.78.
Read more at: http://www.moneycontrol.com/news/indianadrs/indianadrsinfosyswiprorally3tatamotors1_1018889.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/indianadrs/indianadrsinfosyswiprorally3tatamotors1_1018889.html?utm_source=ref_article
Indian ADRs closed
higher on Friday. Among banks, ICICI Bank rose 0.5 percent to USD 36.18
per ADR and HDFC Bank was unchanged at USD 33.78.
Read more at: http://www.moneycontrol.com/news/indianadrs/indianadrsinfosyswiprorally3tatamotors1_1018889.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/indianadrs/indianadrsinfosyswiprorally3tatamotors1_1018889.html?utm_source=ref_article
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JSW Steel is looking to acquire coal mines in Africa, US and Canada, as it is planning to increase self-sufficiency in feeding its steel plants. In the domestic market, it plans to bid for iron ore mines in Karnataka after Supreme Court lifted the ban. With this initiative, the company aims to have its own raw material and captive mines.
Great Eastern Shipping Company (GE Shipping) has signed a contract to buy a Medium Range (MR) product tanker of about 47,000 dwt. The 2004 built vessel is expected to join the company’s fleet during Q2 FY14.
Wockhardt has received an ‘import alert’ from USFDA on one of its manufacturing unit located in Waluj near Aurangabad. The impact of the import alert on the revenues is estimated to be in the range of $100 million on an annualised basis. The Company is taking all steps to address the concerns raised by USFDA and shall put all efforts to resolve the issue at the earliest. The company has got three plants in Aurangabad in the state of Maharashtra.
TTK Prestige’s R&D Centre at Hosur has received recognition from Government of India, Department of Scientific and Industrial Research, which will enable the company to avail certain benefits under Direct and Indirect tax laws subject to prescribed conditions.
Karur Vysya Bank (KVB), one of the leading private banks in India, has opened one new branch located at Siruvani Main Road, Kalampalayam, Theethipalayam Post, Coimbatore in state of Tamil Nadu on May 24, 2013.
Dhanuka Agritech’s manufacturing unit at Udhampur has been recommended for the prestigious OHSAS 18001:2007 certificate for Occupational Health and Safety Management by Intertek Moody. The Certificate will be received shortly. The Udhampur Unit also received re-certification for ISO 9001:2008 for Quality Management and ISO 14000:2004 for Environmental Management.
Tata Power, India’s largest integrated power utility, has installed a rainwater harvesting structure in the nearby Bina-Pani School of Dhanchatani area in Jamshedpur to address the pressing issue of scarcity of water. The ground water table has slowly receded in the area causing hand pumps, wells and other water bodies to dry up which gets severe during summer. It also prevents more than 275 students from attending school.
Hotel Leelaventure is currently working with government to include hotels in infra lending list. It has also agreed to bring debt down substantial in FY14. The benefit of being under infrastructure lending list is that one could replace existing rupee debt by ECBs. Hotels earn foreign exchange between 20-50% depending on the location because the food and beverages and other banquet income normally is in rupees.
ICICI Bank has commenced efforts for repatriating capital from its overseas banking subsidiaries in order to optimize capital for the ICICI Group and improve its return on equity. The bank has now received requisite approvals for repatriation of capital from ICICI Bank Canada, its wholly owned banking subsidiary in Canada, and has received an aggregate equity capital repatriation of CAD 75 million (amounting around Rs 400 crore) from that subsidiary. As a first step, the bank had already received approval for and repatriated $100 million of capital from its subsidiary in the United Kingdom in March 2013.
NTPC, country’s largest power producer has decided to transport coal through inland waterways to its various stations. It will be transporting the first consignment to Farakka power station in West Bengal, which will land next month. After this it will be transporting coal through National Waterways for its upcoming power plant at Barh near Patna in Bihar, and another station at Bongaigaon in Assam.
NCC, infrastructure and construction company is planning to reduce its corporate debt of Rs 3,900 crore by about 50% during the current financial year. It is in negotiations process for divestment of stake in two road assets, for the debt repayment. With the divestment of stake, the debt will get passed on to the buyer of assets.
ING Vysya Bank, Bangalore-headquartered private lender is planning to raise Rs 2,000 crore in fresh capital by the first half of June 2013 through a mix of preferential share allotment to the promoters as well as a qualified institutional placement. It has raised Rs 970 crore through a preferential issue to the promoters apart from QIPs, in June 2011.
McNally Bharat Engineering Company has bagged an order for construction of a portion of 4 laning of National Highway at a value of Rs 277 crore. The contractual completion period is within 22 months.
Polaris Financial Technology has declared that Nilambur Co-operative Urban Bank (NCUB), one of Kerala’s leading Urban Co-operative Banks and Kerala’s first Urban bank to implement Core Banking, has gone live with Polaris’ highly scalable Intellect Core Banking Solution (CBS). NCUB chose Polaris Financial Technology, a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry, to replace the bank’s existing legacy system and to move towards a more proven cutting edge technology.