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Opening Bell 17 March

Opening Bell 17 March
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First Published: Thu, Mar 17 2011. 09 28 AM IST
Updated: Thu, Mar 17 2011. 09 28 AM IST
New Delhi: It is credit policy review day. No more to say. But do take a list of these factors too before trading starts.
The intensifying crisis in Japan continues to take its toll on the global stock markets. Overnight US stock markets lost around 2% to wipe out all the gains they had made so far this year. The S&P 500 fell 1.95% to 1,256 on concerns that nuclear crisis in Japan will worse.
This led to a negative opening in Asian markets. Japan opened weak on worries that the on-going crisis will cripple the world’s third largest economy. Nikkei at 8,797 was down 3.2% in early trades.
Goldman Sachs’ purchase of Benchmark AMC could revive valuations of domestic asset management companies. Even though the purchase price is yet to be disclosed, markets estimate acquisition price to be around 4% of Benchmark’s total assets under management. Read more...
Wockhardt and Biocon have something to cheer about. The drug price regulator has allowed these companies to increase insulin prices. Read more...
Jyothy Laboratories has said it wants to gain control of Henkel India. The company on Wednesday picked up a 14.9% stake in Henkel India from Tamilnadu Petroproducts for Rs 60.7 crore. Read more...
Tata Power is planning to buy minority stakes in overseas coal mines. It already controls significant stake in an Indonesian company, but with the firm aiming to boost power generation capacity to 25,000 megawatts by 2017 from 2,800 megawatts now, it needs to constantly look for fuel supplies.
So what is Reliance Capital going to do with the cash bounty that it received from selling a stake in its insurance subsidiary? The company says it wants to scale up existing businesses and enter new ones. Read more...
It’s a problem of plenty for GlaxoSmithKline Pharmaceuticals. Mint’s Ravi Ananthanarayanan says the company’s huge cash pile is supressing its RoE and has become an albatross around its neck.
So what does it costs to build a new brand? Rs 100 crore. At least, that’s the sum Hero Honda has reportedly set aside to build a new brand. Read of the plan...
JSW Steel and JSW Energy stocks might continue to see some action on the bourses as the income tax department searched their offices on Wednesday. Read more...
And finally, buying horses has been a habit of rich and famous for quite a while now. But a latest trend in China is dwarfing those styles. A breed of Tibetan dogs called Mastiff has become the craze amongst the Chinese ultra-rich. According to one report, a coal baron has paid 10 million yuan or Rs 6.85 crore to get hold of one such pooch. Read for Mastiff mania...
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First Published: Thu, Mar 17 2011. 09 28 AM IST
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