Biggest losers : FY08
Kavit Sharma 02 Apr 2008 | : Business News - Global, Business News - India, Stock Markets
Investors mostly got a raw deal from the stock markets, with as many as 1,000 companies, including top five IT firms Infosys, TCS, Wipro, Satyam and HCL Tech, collectively losing over Rs 2,50,000 crore in market value in 2007-08. Infosys, TCS and Wipro lost Rs 18,000-42,000 crore, while Satyam, HCL Tech and Patni lost Rs 2,000-4,500 crore.
Tata Motors, M&M, Hindustan Zinc, Cipla, Container Corp, Dr Reddy’s, Tech Mahindra, i-Flex, Videocon, MTNL, Bharat Forge, Sobha Developers, United Breweries, Amtek Auto, Cadila, Wockhardt, Aventis Pharma, Ansal Properties, Aurobindo Pharma, Mindtree Consulting, Hexaware, Subex and NIIT Tech all lost between Rs 1,000-10,000 crore each.
Flagship companies of two Ambani groups, Reliance Industries and Reliance Communications, are among the five biggest losers in the Sensex market capitalisation league during the first three months of 2008. Among the top five companies which suffered the most, Reliance Industries, DLF and Reliance Communication are promoted by richest Indians, Mukesh Ambani, K P singh and Anil Ambani respectively. ICICI Bank and Reliance Communications lost Rs 51,425 crore and Rs 49,079 crore respectively. Continue Reading »
Finally, some relief in crude and gold prices
Kavit Sharma 02 Apr 2008 | : Business News - Global, Business News - India
Gold prices ended sharply lower by Rs 440 per ten grams to Rs 11,685 (from the previous closing level of Rs 12,125) on the bullion market on lack of demand at higher levels along with fresh stockists offerings on the back of lower overseas advices. Silver also declined sharply in line with gold prices. Silver ready (.999 fineness) slipped by Rs 985 per kilo to end at Rs 22,640 as against Rs 23,625 previously.
Meanwhile, oil also fell toward $100 (dropped $1.55 to $100.03 a barrel) on Tuesday, extending losses from the previous session as a strengthening US dollar triggered a wide sell-off across commodity markets. Analysts feel, the dollar was helped by Swiss bank UBS and Germany’s Deutsche Bank announcement of $23 billion in additional writedowns, which showed that credit problems are not limited to the United States. Continue Reading »
