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The bleeding continues in the benchmark indices - the Nifty broke 2750 level and the Sensex is just managing to stand above 9000 mark. Metal, Realty, Bankex, Power, Capital Goods and Oil & Gas indices plunged 3.8-5.8%.
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Financial Technologies India group has inked a deal to acquire 60% stake in Botswana-based Bourse Africa, which has been licensed by government of Botswana, to set-up spot / derivative multi-asset exchange for trading in commodities, currencies, bonds and diamonds.
The balance equity in Bourse Africa will be held by other African financial institutions, banks, global multi-lateral developmental ventures, exchanges and other strategic investors.
The exchange will offer participants an efficient, cost-effective and secure trading platform, supported by a world-class regulatory framework of the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) to ensure market integrity, systemic stability and investor protection.
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State Bank of Bikaner & Jaipur has announced that R Sridharan, deputy managing director & GE (A&S) has taken over as director of the bank with effect from 29 November 2008.
The company made this announcement after the trading hours on Monday, 08 December 2008.
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The board of Aryaman Financial Services has decided to issue 4,95,000 equity shares to P V R Murthy in accordance with the shareholder's approval received in the EGM and the application received from him.
The board has decided to issue 30,33,330 convertible equity share warrants to the applicants in accordance with the shareholder's approval received in the EGM and the application received from them and to convert 6,45,330 warrants into the equity shares immediately on request of the allottee.
This was decided at the board meeting held on 22 November 2008.
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State Bank of India has signed a joint venture agreement with Insurance Australia Group to form a joint venture company which will be engaged in general insurance business in India. The formation of the company will be subject to receipt of necessary regulatory clearances / approvals, SBI and IAG, subject to regulatory approval, will hold 74% and 26% respectively of the equity in the new company.
The company made this announcement during the trading hours today, 24 November 2008.
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Minolta Finance reported net profit of Rs 0.01 crore in the quarter ended September 2008. There were no net profit or loss reported during the previous quarter ended September 2007. Sales reported to Rs 0.02 crore in the quarter ended September 2008. There were no sales reported during the previous quarter ended September 2007.
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The board of Jatia Finance has approved to change the name of the company from Jatia Finance to Starcom Information Technology.
This was approved at the board meeting held on 19 November 2008.
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