Tuesday, 8 March 2011

Hero to buy out Honda stake in Indian JV for $851 mn

Mumbai, INDIA: Hero Investments has agreed to buy Honda Motors Ltd's 26 percent stake in Hero Honda Motors for around $851 million in a deal that will see the Japanese automaker exit its joint venture in India after more than 26 years. 
 

UTV to sell stake in Indiagames for Rs 220 crore; stock up

Mumbai, INDIA: UTV Software Communications is likely to sell its stake in online gaming company Indiagames for around 220-240 crore, a person close to the deal told. The deal may close as early as 60-90 days, he said. 

Taiwan stocks close up; department stores lead

TAIPEI: Taiwan stocks closed 0.39 percent higher on Tuesday, with department stores and food companies leading the index, as investors piled up on shares after losses the previous session. 

China shares end up 0.1 pc, property sector supports

China's main stock index closed up 0.1 percent on Tuesday underpinned by strong property stocks, with further upside capped by profit-taking in financials. 

Middle east unrest works to shipping companies benefit

The Middle East unrest and the uncertainty over oil supplies in the short term have boosted demand for vessels operating in the tanker segment. Analysts say that several oil-importing nations are now increasingly getting their crude oil supplies from countries such as Russia and Venezuela. This has resulted in longer distances travelled by tanker vessels. 

Sensex on firm foot; tech, banks, realty gain

Mumbai, INDIA: Benchmarks continued to hold on to gains as investors bought stocks across the board after a correction in previous session. Reports that seat sharing issue between the DMK and Congress is expected to end soon boosted investors sentiments. However, experts are of the view that market may remain volatile with negative bias due to instability in the middle-east and surging crude oil prices.