Azim Premji Transfers 295.5 million equity shares to His Not-For-Profit Foundation

Chairman of Azim Premji Foundation, Azim Premji, announced that he has transferred 295.5 million equity shares representing 12% of the total shares of Wipro Ltd, held by certain entities controlled by him, to an irrevocable trust. With this transferred amount the trust's shareholding in Wipro will go up to about 19.93%.

Azim Premji foundation is a not for profit organization set up in the year 2001. The goal of the organization is to create and sustain initiatives to contribute to a just, equitable, humane and sustainable society.

The foundation has worked in partnership with various state governments, largely in rural India, to help contribute to the improvement of quality and equity of school education.

Currently the foundation's work is spread across Karnataka, Uttarakhand, Rajasthan, Chhattisgarh, Pondicherry, Andhra Pradesh, Bihar and Madhya Pradesh.

Premji was amongst the billionaires around the world to commit half of their wealth to philanthropy, the “Giving Pledge” campaign recently announced.

The campaign is led by billionaires’ warren Buffett, Bill Gates and others. The campaign is a commitment by the world’s wealthiest individuals and families to dedicate the major portion of their wealth to philanthropy.

Read the rest of this entry

Infosys shares soar on BSE after Q3 report

The shares of IT major, Infosys Ltd, soared to Rs 2,580 around 11.19 per cent on early trade on the BSE on Friday following filing its reports for the third quarter ended December 31, 2012.

The revenue of Infosys for the quarter October – December, went up to Rs 10,424 crore by 12.1 per cent. Last year, in the same quarter the company had revenue of Rs 9,298 crore.

According to the media reports, the net profit of Infosys for the third quarter has marginally dropped to Rs. 2369 crore by 0.12 per cent,  the company had posted net profit of Rs.2372 crore in October—December quarter of the previous fiscal (2011—12).

Read the rest of this entry

Maruti Suzuki shares soar Four Years High

The shares of Maruti Suzuki India Ltd at BSE touched four years high on Monday following rising sales in December 2012. At 11 am on Monday, early trade, the shares were being valued at 1,592.65 (+48.65).

The shares rose by around 3.15 per cent on the first day of the week the highest since December 15, 2009. And depreciation of Japanese Yen was also another cause for the rise in the shares of Maruti on BSE.

The BSE Sensex was up on Monday morning at 19,799.85 points with 15.77 points up or 0.08 per cent increase. And Nifty, in the early trade, zoomed around 0.04 per cent at 6,018.60 with 2.45 points up.

Read the rest of this entry

Maruti Suzuki cars to cost more from January 2013

In a significant development, the Maruti Suzuki company has declared to hike the price of cars by around 20,000 rupees from January 2013.

Those are planning to buy a car from this company need to pay more the cars from January 2013. But the news of hike in price have pushed the scrips of Maruti Suzuki to one year highest mark.

The share of the Maruti Suzuki company have zoomed around 3 per cent on Friday after the company declared price hike for its cars by next year.

On BSE the shares of Maruti Suzuki touched Rs. 1,533.75 by gained 3.54%  and on NSE its stocks were traded at Rs. 1,535.40 with  3.56% up. 

Read the rest of this entry

Does a company’s high stock market value mean added value to economy?

Industries and companies are the major components of any economy. The contribution from the industrial sector is high in many countries. In the countries like India, agriculture as the primary sector in the past but the rapid growth of industries, companies, corporate are contributing more to Indian economy.

The high stock market value of company is mean added value to economy. The high market capitalization will help the economy to get tax in many forms which could give a boost to the economy. The stock markets play a vital role in an economy, and it helps to read the economy through the fund flow into the system.

The high stock market value of companies will attract huge foreign funds into the system. The investment into the stock market helps the companies to utilize the fund in their production, which could be used in domestic market.

The growth in the production and productivity of the companies will help to attract more funds in the equity market. However, exposure to equity and investments could also lead to risk factor in some aspects.

When a company enters into the stock listing through IPO, it will have the minimum value for its stock price. Once the company gets good deals and declares its quarterly profit and loss report, based on that the share price may go up or down. That will show the market capitalization of the company. And in a span of time, the shares will grow fast so as the market capitalization.

High value of shares means the high market capitalization of the company the shares belong to. Highest market capitalization of companies will always help economy to get more and more investment. So, high stock market value can be considered as value added to economy.

Read the rest of this entry

Banking Shares Plunged by 2.6%

The banking shares index - BSE Banking slided 2.6 per cent on Wednesday, a major set back for the investors those have been feeling the banking shares safe. The major bank of India -State Bank of India registered 7 per cent down on Wednesday.

Many other commercial bank share were also plunged on Wednesday during the trading hours. The shares of Axis Bank Ltd and ICICI bank slipped 2.4 per cent and 2.1 per cent respectively.

The bank shares fell due following the credit rating agency Moody downgrading the Indian bank sector from 'stable' to 'negative'.

Read the rest of this entry

Sensex and Nifty Down, M&M, Tata, SBI, HDFC Bank, Hindalco Shares up

The Indian stock market was seen in red today, The sensex was at 17,946.97 and Nifty was at 5383.55 at 3pm on Friday. The investors would be tracking options to save their investments and manage their portfolios. The Sensex was down with 45 points while Nifty was down with 25 points. The Sensex ended (provisional) with a loss of 150 points at 17,842. The NSE Nifty has shed 53 points at 5356.
The Mah & Mah, Tata Steel, State Bank, HDFC bank and Hindalco shares up on Friday despite Sensex and Nifty down. At around the 3pm on Friday, the shares of Mah & Mah gained 2.4 per cent. Among the losers Hero Honda shares down by around 2.92 per cent on Friday.

Among the indices - Sensex, BSE 100, BSE 200, DOL 200, BSE 500 and BSE IT were also down. The BSE IT indices were down with around 0.92 per cent, at the time drafting this news story. However, the market may recover at any time with the sentiments and foreign clues.

Read the rest of this entry