Infosys stock valued at Rs 10,306 a share
Goldman Sachs has said that Infosys and HCL Tech were highly undervalued and projected it to rise by about 35 per cent in the next 12 months to touch Rs 10,306 and Rs 1,536 per share respectively. "We identify Infosys as one of the highest quality names in the industry and also believe in HCL technologies as a sound business model with niche strengths in engineering solutions," the firm said.US-64 exposure to Reliance firms
UTI's US-64 has over 18 per cent of its equity exposure to Reliance Group companies as on August 31. Reliance Industries is leading the equity portfolio of the scheme with 12.88 per cent of exposure, followed by Reliance Petroleum with 5.78 per cent. Following the two Reliance firms were ITC (4.76 per cent), HFCL (4.6 per cent), Infosys (4.01 per cent).
IT raid on on Bollywood stars
I-T officials launched raids on several film personalities including Salman Khan and Aishwarya Rai in Mumbai.A team of 150 IT officers are also carrying out searches at the residences of Rani Mukherjee, Urmila Matondkar and Amrish Puri.
VN Dhoot is `Man of Electronics'
Videocon Group's Chairman and Managing Director Venugopal N Dhoot was on Tuesday honoured with `Man of Electronics' award for the year 2000 for his outstanding contribution to growth and development of conusmer electronics industry in India. The award was given away by Secretary in the Ministry of Information Technology PV Jayakrishnan in New Delhi.
Dunlop shareholders pass resolution
The resolution pertaining to adoption of annual accounts of Dunlop India for the year 1999-2000 was carried on Tuesday. It was put to vote by the shareholders, particularly the financial institutions at the annual general meeting on Monday, according to company sources in Calcutta.
DSQ Biotec may buy US firm
DSQ Biotec is in talks for an acquisition of a biotech company in the US, a top official from the company told The Financial Express at the sidelines of an analysts' meet in Mumbai.
United Western bonus issue stalled
A Bench of the Company Law Board has issued orders restraining United Western Bank from going ahead with their bonus-cum-rights proposal. In a notice to stock exchanges, the bank has informed that the orders were issued in the wake of some of the shareholders of the bank filing a petition with CLB, New Delhi, under Sec 397 and 398 of the Companies Act, 1956.
BSE badla session advanced to Oct 6
BSE has advanced its badla session to October 6 and changed schedule for trading in cash session, in view of Dassera holiday the next day. Trading in cash segment would be between 9 am and 9.30 am, followed by a trading session up to 2 pm, BSE said in a release on Tuesday.
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