Category: Breaking Corporate India Earnings News

After Edelweiss, IndiaInfoline board has informed that they will venture into Mutual Fund business and the board has also approved of setting up an Asset Management Company for the same. The board has decided to increase the limits for investments / loans and guarantees upto a maximum amount of Rs 2,000 crore.

Union Bank of India is also seeking entry into the mutual fund market and may most probably tie-up with someone to sell Mutual Funds and related products to its banking customers.

HDIL just a while ago informed us that a new venture will offer films through its multiplexes and will have a range of gaming centres with food court that will be managed by Broadway. HDIL will set up its first Broadway theatre in Vasai, a Mumbai suburb. This will be followed with the opening of the Broadway entertainment centre at Kandivli somewhere around mid-January next year. The multiplex will have four screens by the end of the current fiscal.

HDIL is also scouting for acquisition in the theatre chain business and talks are on with various firms in the industry

NASSCOM the association of IT and ITeS companies who have built the Indian IT industry on labor arbitrage is back with a begging bowl at the doorsteps of Finance Ministry.

Without any doubt one should appreciate the building of IT as an industry, however, lack of vision by leaders to survive the point of inflection doesn’t have to end with a begging bowl filled with wishes of tax incentives. [PDF] Have some Fuc*ing ego and start building innovative products as Andy has rightly said, “Only the Paranoid Survive”.

SEBI informed us about the introduction of the following new products in derivatives segment. The following are proposed and suggestions may directly be sent to SEBI

1.Mini Contracts in Equity Indices
2. Options Contracts with Longer Life/Tenure
3. Volatility Index and F&O Contracts
4. Options on Futures
5. Bond Index and F&O Contracts
6. Exchange-traded Currency (Foreign Exchange) F&O Contracts
7. Exchange-traded products to cater to different investment strategies

Read SEBI’s entire proposal here. [PDF]

Akruti City has been honoured by the Government of Maharashtra for its efforts in setting up state-of-the-art infotech parks in the state. The company has bagged the runner up award in the category of setting up best IT infrastructure.

The company has a presence across the full spectrum of real estate activities from high-end super luxury complexes, mid-end mega residential complexes, commercial complexes, IT parks arid SEZs spread over hundreds of acres of land, world-class biotech parks, robotic car parking towers, and townships.

The Maharashtra IT awards have been constituted by the Government of Maharashtra to recognize innovative information technology (IT) and information technology enabled services (ITES) companies from Maharashtra, who have made the state proud, based on their performance during the financial period from 2001 to 2004. The awards aim to promote entrepreneurship in the IT Industry within the state and recognizing and appreciating outstanding performance in IT activities. It also seeks to encourage the rapid spread of the use of IT in society and as a means of generating employment opportunities.

Petron Engineering has received two letter of intents from Utility Energytech Engineers and Reliance energy for erection, testing, commissioning, trial operation and handing over of boiler proper for 2 x 300 MW rosa thermal power project, Rosa, Uttar Pradesh valued at Rs 38.99 crore.

Erection, testing, commissioning, trial operation and handing over of boiler proper (2 units) for 2 x 600 MW Hisar thermal power project (HTPP), Haryana, valued at Rs 59.88 crore.