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Opening Bell 18 August

Opening Bell 18 August
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First Published: Thu, Aug 18 2011. 08 47 AM IST
Updated: Thu, Aug 18 2011. 08 47 AM IST
New Delhi: Anna Hazare has accepted the police offer to allow him to go on hunger strike for 15 days. Read more... -
While the government scrambles for cover, stock markets in Asia fell on rising yen. With the yen rising to record levels, investors are selling stocks of companies that derive majority of their revenues from overseas. The Nikkei at 9,000 is down 0.62%.
Overnight, stock markets in the US closed mixed as investors cautiously gauged the impact of weaker sales forecast by Dell Inc. Shares of Dell fell 10% as lower spending on PCs and consumer technology crimped its sales forecast. The S&P 500 at 1,193 closed slightly up by 0.09%.
Back home, foreign and domestic institutional investors are increasingly turning cautious about companies’ political links. With several politicians and corporate executives actually being sent to jail institutional investors are staying away from companies that are too dependent on political connections for securing business. Read Mint’s story...
With more flyers taking low cost airlines, Jet Airways said it will introduce more low-fare flights to capture greater market share. The move will entail a change in its current business model.
Mundra Port and SEZ and a consortium of Welspun group companies have submitted bids to develop and operate a port at Vizhinjam in Kerala. The bids contain technical and financial proposals. The port is reported to have a capacity to load 2.8 million standard containers and 1.8 million tonnes of other types of cargo per year.
Malaysian telecom major Axiata Group has increased its holding in Idea Cellular to 19.98%. The company acquired an additional 0.9% stake through open market purchase.
Ramky Infrastructure is expecting an additional Rs 6,000 crore worth of orders in the current financial year. The company recorded order inflows of Rs 1,600 crore in June quarter.
GMR Infrastructure is planning to sell extra coal in local market until a requirement in its power projects arises. The company has coal mines in Indonesia and South Africa.
Finally, Coal India surpassed Reliance Industries as India’s most valuable firm by market capitalization on Wednesday. This is the first time since February 2007 that Reliance Industries has slipped a notch below from its position as the nation’s largest company by market value. Read more...
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First Published: Thu, Aug 18 2011. 08 47 AM IST
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