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 FIIs back in the game, buy shares worth Rs 769 crore. - Sebi well within rights to act against RIL: MCA - FIIs net bought Rs 1,197 crore in F&O on Tuesday - RIL makes third discovery in K-G block - Production contracts shouldn"t be tweaked by anyone: RIL - RIL discovers third gas reserves in KG basin - FIIs net sold Rs 51 crore in F&O on Friday The sharp rise in the stock markets today, while spreading overall cheer, made it a gloomy day for short sellers. To add to their woes, some of punters’ favourite stocks — Reliance Industries Ltd (RIL), Tata Steel, Sterlite Industries, Hindalco, ICICI Bank and Reliance Infrastructure — rose significantly. Market players say large short positions had been built up in these stocks by bear operators. Short selling, also known as shorting or going short, is the practice of selling assets, usually securities, that have been borrowed from a third party (usually a broker) with the intention of buying identical assets back at a later date to return to the lender.
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JP Morgan Asset Management today announced the promotion of Christopher Spelman as the chief executive officer (CEO) of its India business and the appointment of Nandkumar Surti as the chief investment officer (CIO). - Positive outlook on investment in India, says survey The company also announced the resignation of its executive chairman Krishnamurthy Vijayan who will leave the company shortly to take up a senior position in another firm. In his new role, Spelman will be responsible for asset management business, including sales and marketing, product development, operations, staffing and budgetary controls, a press release issued here stated. Spelman has been with JP Morgan for over 12 years. Nandkumar Surti, the erstwhile CIO of Fixed Income at JP Morgan Asset Management, will now be the CIO for the entire India asset management business.
Sobha Developers, the Bangalore-based realty player, is set to raise another Rs 250 crore by selling a little over 100 acres of its land in Pune. The company has been making headway to settle a part of its Rs 1,900 crore debt by selling part of its 3,000-acre land bank spread across the country. Sobha recently raised close to Rs 530 crore through the Qualified Institutional Placement (QIP) route. With a debt of Rs 1,900 crore, the company was leveraged 1.6 times and it is understood that a part of the proceeds from QIP is being used to settle a part of that. - Sobha set to raise another Rs 250 cr from land sale - Jet focus for next two years will be on cutting debt - Indiabulls Fin raises Rs 960 cr via QIP - FIIs raise stake in Nifty firms to 43% - HDFC net rises 21% as disbursals rise - Overseas investors buy the India story again According to industry sources, the company is in advanced discussions with a Pune-based builder to sell 103 acres at Hinjewadi, the prime IT corridor in Pune.
The Centre may give sops to drug exporters for shipments to Africa and Latin America through a route that would avoid passing through Europe, while it prepares to drag the EU to the World Trade Organisation (WTO) over seizures of consignments of Indian pharma companies. - Govt slaps restrictive duty on nylon tyre cord fabric imports - Infy may acquire European cos for $400-500 mn - Indian firms ink 8 deals with US counterparts - GM-Opel"s threatened loss of jobs strains EU principles - Novo Nordisk to launch range of insulin products in India - Venture funds turn to entrepreneurs-in-residence The European Union has been seizing Indian generic drugs en route Latin America and Africa citing patent violations. The Department of Pharmaceuticals has submitted a freight subsidy scheme for exporters to the Commerce Ministry so that they could take alternate routes and avoid transit through Europe, which is a shorter route with better connectivity.