HDFC HIKES PLR BY 50 BASIS POINTS

Leading home providing HDFC raised its prime lending rate(PLR) by 50 basis points from existing 13.75% to 14.25% from sept 1, 2010.

The rates for the existing customer and new customer

BARCLAYS RELIEVED OF SEBI BAN

Market regulator SEBI has lifted the ban on British bank Barclays for issuing off share derivative instrument.

It will help to lender to facilitate investment by unregistered entities into Indian stock markets

BILCARE COMPLETES ACQUISITION OF FILM MAKING UNIT OF INEOS

Indian pharmaceutical product packing company Bilcare has completed Rs.607crores acquisition of the plastic film making unit of petrochemical company INEOS.

Acquisition WILL GIVE Bilcare to access client like Pfizer, Novartis & Johnson & Johnson.

Operating margin of INEOS plastic film making division 7.5% on revenue Rs. 1458.

INEOS have employed arround 1300 peoples across Germany,Italy, India & North America.

SHARMA GAME FOR FDI IN MULTI-BRAND RETAIL, SAYS OPENING UP WOULD CREATE MORE JOBS

Investing FDI in multi-brand retail will grow thousand of jobs.

WalMart and Carrefour tap India’s growing retail market, estimated at over $400b.

The present FDI regime allow 51% foreign investment in single brand retail 100% in whole sale but not in multi brand.

CIPLA TO DECIDE ON MEDPRO STAKE BUY IN OCT..

Cipla decide to buy stake of up to 25% in a unit of South Africa based Cipla Medpro.

Cipla Medpro is partner of Indian firm and is third biggest drug maker in South Africa.

Indian firm exports arround 35% of it’s production.

15% export revenues are through Cipla Medpro.

RISE IN YEN’S CREATE TOUGH SITUATION FOR TOYATA MOTOR

The world’s largest auto maker will consider moving its factories overseas to build models to sold in Japan.

Because did not rise sale of cars.

Friday , doller rollied against the yen 83.58 to 84.39 yen

SENSEX V/S NIFTY

Sensex Nifty0

10000

20000

30000

40000

50000

60000

70000

80000

17971.12

5402.4

18205.87

5471.85

18238.31

5486.15

18221.43

5479.4

1/8/2010 2/8/2010 3/8/2010 4/8/2010