Pratish's Feed
Aug 3, 2010

India SKS IPO success heralds more microfinance offers

MUMBAI, Aug 3 (Reuters) – Indian lender SKS Microfinance
raised about $358 million in an IPO after pricing the sale at
the top end of an indicated price band, signalling strong
investor appetite and the likelihood of more such offers coming
to market.

The IPO, which values the firm that gives tiny loans to
poor women at $1.6 billion, has drawn such high-profile
investors as billionaire George Soros, venture capitalist Vinod
Khosla and Infosys Technologies (INFY.BO: Quote, Profile, Research) founder N.R. Narayana
Murthy.

Jul 29, 2010

India’s ONGC Q1 net falls 24.5 pct, lags estimates

NEW DELHI, July 29 (Reuters) – Indian state-run explorer
Oil & Natural Gas Corp (ONGC.BO: Quote, Profile, Research) reported a 24.5 percent fall
in first-quarter net profit, lagging estimates, as a rise in
crude oil prices CLc1 meant it had to make higher subsidy
payouts.

ONGC, which is looking to buy BP’s (BP.L: Quote, Profile, Research) assets in
Vietnam, posted April-June net profit of 36.61 billion rupees
($785.6 million), down from 48.48 billion rupees a year
earlier.

Jul 28, 2010

Reliance and Essar eye BP’s Africa retail ops: sources

NEW DELHI/MUMBAI (Reuters) – BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) (BP.N: Quote, Profile, Research, Stock Buzz) is in talks with India’s Reliance Industries (RELI.BO: Quote, Profile, Research, Stock Buzz) and Essar Group to sell its African retail assets that could be worth as much as $500 million, four sources with direct knowledge of the matter told Reuters on Wednesday.

It was not immediately known whether BP was showing the African assets to other potential buyers.

Jul 28, 2010

Reliance, Essar eye BP’s Africa retail ops-sources

NEW DELHI/MUMBAI, July 28 (Reuters) – BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) (BP.N: Quote, Profile, Research, Stock Buzz)
is in talks with India’s Reliance Industries (RELI.BO: Quote, Profile, Research, Stock Buzz) and
Essar Group to sell its African retail assets that could be
worth as much as $500 million, four sources with direct
knowledge of the matter told Reuters on Wednesday.

It was not immediately known whether BP was showing the
African assets to other potential buyers.

Jul 27, 2010

Reliance Inds Q1 net up 32 pct, margins seen rising

MUMBAI, July 27 (Reuters) – Reliance Industries (RELI.BO: Quote, Profile, Research, Stock Buzz),
India’s largest listed company, posted a 32 percent rise in June
quarter profit on higher gas production, with demand for refined
products in fast-growing Asia and improving margins set to drive
growth.

Reliance, with interests in petrochemicals, refining, oil
and gas exploration, and retail, recently made a dramatic return
to India’s telecoms arena and has announced plans to enter the
country’s power sector.

Jul 22, 2010

India’s ONGC on inside track for BP Vietnam stake

MUMBAI/HONG KONG, July 22 (Reuters) – BP’s (BP.L: Quote, Profile, Research, Stock Buzz) woes may
enable India to get the upper hand over China for at least one
coveted energy asset.

India’s state-run Oil and Gas Natural Corp (ONGC.BO: Quote, Profile, Research, Stock Buzz) is
well-positioned to buy the embattled UK firm’s 35 percent
stake, worth $966 million by one estimate, in an offshore
Vietnamese gas field in which it already owns 45 percent.

Jul 5, 2010

Reliance Natural plunges after share swap deal

MUMBAI (Reuters) – Reliance Natural(RENR.BO: Quote, Profile, Research) shed more than a quarter of its value on Monday, after a deal to fold into sister firm Reliance Power(RPOL.BO: Quote, Profile, Research) valued the company at $1.5 billion, or 31 percent below its Friday closing price.

The companies, both controlled by Indian billionaire Anil Ambani, said on Sunday Reliance Natural Resources (RNRL) shareholders would receive one Reliance Power share for every four they hold.

Jul 5, 2010

India’s Reliance Natural plunges after share swap deal

MUMBAI, July 5 (Reuters) – India’s Reliance Natural
(RENR.BO: Quote, Profile, Research, Stock Buzz) shed more than a quarter of its value on Monday,
after a deal to fold into sister firm Reliance Power (RPOL.BO: Quote, Profile, Research, Stock Buzz)
valued the company at $1.5 billion, or 31 percent below its
Friday closing price.

The companies, both controlled by Indian billionaire Anil
Ambani, said on Sunday Reliance Natural Resources (RNRL)
shareholders would receive one Reliance Power share for every
four they hold. [ID:nSGE663015]

Jul 4, 2010

Anil Ambani to merge his Reliance Power, RNRL

MUMBAI, July 4 (Reuters) – Reliance Power (RPOL.BO: Quote, Profile, Research, Stock Buzz) will
absorb sister firm Reliance Natural Resources (RENR.BO: Quote, Profile, Research, Stock Buzz) in a
share swap deal valued at $1.5 billion, the latest in a series
of deals by one or other of the billionaire Ambani brothers.

Reliance Natural Resources (RNRL) shareholders will receive
one Reliance Power share for every four they hold, the firms,
both controlled by the younger Ambani brother, Anil, said in a
statement on Sunday.

Jul 2, 2010

Anil Ambani mulls merging Reliance Power, RNRL

MUMBAI (Reuters) – Anil Ambani’s Reliance Power(RPOL.BO: Quote, Profile, Research) and sister firm Reliance Natural Resources(RENR.BO: Quote, Profile, Research) will discuss whether to merge on Sunday, continuing a spree of activity in the billionaire’s empire since the end of a dispute with his brother.

The two companies said after the close of trading on Friday they would hold separate board meetings to consider a tie-up.