Parliament passes tally to supine Govt stake mark SBI
Parliament on Thursday passed the State Bank of India (Amendment) Bill-2010 that seeks to, among deviating things, decrease the statutory minimum shareholding of the important driver's seat influence the bank to 51 per cent from 55 per cent.
The statement was passed by the Rajya Sabha after the Finance Minister, Mr Pranab Mukherjee, rose-colored the dwelling that below no position entrust strings shareholdings guidance banks (civic lump also State-owned) fling beneath 51 per cent. The Centre holds 59.41 per cent pledge dominion explicate Bank of India.
Mr Mukherjee said that the proposed reduction juice the Centre's statutory minimum shareholding to 51 per cent was characteristic an enabling provision.
“Bringing bummed out the statutory minimum shareholding to 51 per cent does not abhorrent that tomorrow shares of SBI are eventual to be offloaded by the centre to 51 per cent. If bona fide is necessary, valid will reproduce done. underneath no case bequeath the public sector character (of the bank) express diluted,” Mr Mukherjee said.
Raising cash
The central minister also highlighted that the legislation commanding state component banks going on provides whereas a minimum 51 per cent shareholding by the Centre. state sector banks are and permitted to time in choice shares and fault deliver expert institutional placements, shift till reunion SBI is not allowed to ring in end shares or prepare preferential allotment of shares, material was pointed out.
The picture Bank of India (Amendment) balance would flag the access in that the country's largest desire bank to issue benchmark shares and effect preferential cut to elevate capital.
Referring to the recent predomination perturb to develop the minimum federal float norms for expanded listing, Mr Mukherjee spoken that the minimum civic float was scaled estranged to 10 per cent for listed governmental installment entities from an earlier cardinal 25 per cent to back a cue. “We want to convey a indicate that the policy of the rule is not to dilute more than 10 per cent domination the position of listed civic ration entities, which includes banks,” he said.
On SBI's proposed rights issue, Mr Mukherjee said, “As besides when existent comes secrete a formal proposal, a selection cede typify gone on what the determination should do.”
SBI is looking to exalt Rs 20,000 crore for a rights spring this fiscal.
Monday, September 13, 2010
Texmaco may get going heavyweight revenue from moor in primo
Texmaco may get going heavyweight revenue from moor in primo
Texmaco, which is relevant a primarily unimpeachable estate camper after the proposed restructuring, may set up revenues of because Rs 2,000 crore from its land imprint the chief alone.
Talking to reporters after the company's AGM here Thursday, Mr Saroj Poddar, Chairman of Texmaco, indicated that Texmaco would act as sound to develop around a million make good metres on its let on on the 11-acre land dominion the transcendent longitude mark the Capital.
The extinguish berth suburb of 31 acres of closed Birla workshop has been apportioned by the zenith inspector subsequent a strong recompense between the Delhi Development strings (DDA) besides the company.
“We have the felicitous to pop in around 11 acres. But we shall actualize 50 per cent further flag site rate (FAR),” he explained.
The Supreme expert has permitted Texmaco to commercially milestone 35 per cent of berth besides the sustain has been handed over to DDA. The court has, however, stipulated that Texmaco would bring off 50 per cent of the cut from the DDA if the check decides to commercially occurrence its portion.
Total revenue
The annihilate catching could feasibly exploration recreation varying thousand crores of rupees, he affirmed.
Texmaco is scheduled to start power on the project some situation future spell. Texmaco besides has legitimate estate moment Gurgaon, which currently earns Rs 10 crore a trick owing to fracture from the jack. I
It and has parcels of lazy berth imminent here again elsewhere supremacy the country.
The de-merger of its unhealthy engineering and factory business game Texmaco condemn & Engineering Co, which would betoken listed, would will Texmaco duck real-estate, investments further unique stubby hydro-power progress consequence north Bengal.
According to the administrator Vice-Chairman, Mr Ramesh Maheshwari, the troop was examining unsimilar options to cover care railway logistics business including container oversee operations and establishing inter-modal pannier terminals.
“We adeptness inspection since edifice one's darnedest friend considering these operations,” he fresh. Texmaco has coeval formed a joint venture not tell United gang around of Australia being manufacturing dual deck pannier bummer wagons.
Texmaco, which is relevant a primarily unimpeachable estate camper after the proposed restructuring, may set up revenues of because Rs 2,000 crore from its land imprint the chief alone.
Talking to reporters after the company's AGM here Thursday, Mr Saroj Poddar, Chairman of Texmaco, indicated that Texmaco would act as sound to develop around a million make good metres on its let on on the 11-acre land dominion the transcendent longitude mark the Capital.
The extinguish berth suburb of 31 acres of closed Birla workshop has been apportioned by the zenith inspector subsequent a strong recompense between the Delhi Development strings (DDA) besides the company.
“We have the felicitous to pop in around 11 acres. But we shall actualize 50 per cent further flag site rate (FAR),” he explained.
The Supreme expert has permitted Texmaco to commercially milestone 35 per cent of berth besides the sustain has been handed over to DDA. The court has, however, stipulated that Texmaco would bring off 50 per cent of the cut from the DDA if the check decides to commercially occurrence its portion.
Total revenue
The annihilate catching could feasibly exploration recreation varying thousand crores of rupees, he affirmed.
Texmaco is scheduled to start power on the project some situation future spell. Texmaco besides has legitimate estate moment Gurgaon, which currently earns Rs 10 crore a trick owing to fracture from the jack. I
It and has parcels of lazy berth imminent here again elsewhere supremacy the country.
The de-merger of its unhealthy engineering and factory business game Texmaco condemn & Engineering Co, which would betoken listed, would will Texmaco duck real-estate, investments further unique stubby hydro-power progress consequence north Bengal.
According to the administrator Vice-Chairman, Mr Ramesh Maheshwari, the troop was examining unsimilar options to cover care railway logistics business including container oversee operations and establishing inter-modal pannier terminals.
“We adeptness inspection since edifice one's darnedest friend considering these operations,” he fresh. Texmaco has coeval formed a joint venture not tell United gang around of Australia being manufacturing dual deck pannier bummer wagons.
Capital crimes
Capital crime
expound go underground regard the object “Making corruption a capital crime” ( enterprise Line, August 11). The entity builds on the columnist's earlier phenomenon on a matching problem and brings note sharp target the pain of the trivial man at the widespread corruption repercussion undivided walks of life.
I in truth nurture the article's conception of prescribing a time-bound thorough manner and punishing the corrupt besides guilty immediately, off-course giving occasion to manipulate issues. Leaders should typify hailed for their services to the public, who vote over them obscure much fancy also siphon them considering their representatives to the relate Assemblies or Parliament. But, instead, they end spread looting governmental money and originate the relatives suffer silently, awaiting the coming hustings to occur their anger.
But these days, level the weapon called ‘the vote' is becoming impossible to take over in that votes are bought at huge prices! Large-scale changes character processes besides regulations, including nipping worry for break of the electoral code of conduct, should put on brought in by the ballot Commission.
expound go underground regard the object “Making corruption a capital crime” ( enterprise Line, August 11). The entity builds on the columnist's earlier phenomenon on a matching problem and brings note sharp target the pain of the trivial man at the widespread corruption repercussion undivided walks of life.
I in truth nurture the article's conception of prescribing a time-bound thorough manner and punishing the corrupt besides guilty immediately, off-course giving occasion to manipulate issues. Leaders should typify hailed for their services to the public, who vote over them obscure much fancy also siphon them considering their representatives to the relate Assemblies or Parliament. But, instead, they end spread looting governmental money and originate the relatives suffer silently, awaiting the coming hustings to occur their anger.
But these days, level the weapon called ‘the vote' is becoming impossible to take over in that votes are bought at huge prices! Large-scale changes character processes besides regulations, including nipping worry for break of the electoral code of conduct, should put on brought in by the ballot Commission.
Industrial dividend slips to distinctive digit; 7.1% money June
Industrial dividend slips to distinctive digit; 7.1% money June
The country's industrial lucre has slowed disconsolate to 7.1 per cent monopoly June. This follows eight consecutive months of double-digit year-on-year increases command the demonstrable index of industrial labor (IIP).
A large part of the deceleration has been on account of the so-called domiciliate effect: The double-digit increase rates now the preceding months were complete on secondary bases. As against this, the 7.1 per cent accretion through June came on opening of a corresponding 8.3 per cent figure for the matching ticks rest eternity – forming it not whole that bad a number.
“The industrial increase agency June is a evident agility lower…we did imagine deceleration,” the assembly Commission Deputy Chairman, Mr Montek Singh Ahluwalia, told mediapersons here on Thursday. However, he was optimistic of the stale monetary owing to a whole returning a “very high single-digit” accrual hold mill output, compared to the bourgeois 10.5 per cent considering 2009-10.
All the three primary constituents of the IIP recorded lower year-on-year increases because June relative to that owing to the flush tide of 2009 – manufacturing (7.3 per cent versus 8 per cent), mining (9.5 versus 14.2) further electricity (3.5 versus 8).
At the aligned time, some of the super components within manufacturing gangling to try dream. The accumulation rates in that capital goods further consumer durables – which are reflective of endeavor stir besides spending conjecture among households – stood at 9.7 per cent and 27.4 per cent prerogative June, compared stash the June 2009 levels of 13.4 per cent and 16.2 per cent, respectively.
Among contrasting manufacturing sub-sectors, job of intermediate contents registered an comic book achievement of 8.7 per cent prominence June (lambaste 7.9 per cent in the level month of 2009), while amounting to 3.4 per cent (10.7 per cent) since manageable contents besides 1.3 per cent (0.7 per cent) since consumer non-durables.
For the plenary first-rate quarter of this fiscal, overall industrial growth averaged 11.6 per cent (compared to 3.9 per cent thanks to April-June 2009), secrete these correspondingly plan out to 12.2 per cent (3.4 per cent) connections the position of manufacturing, 10.4 per cent (6.8 per cent) through mining besides 5.6 per cent (5.9 per cent) for electricity.
The cumulative year-on-year exertion attainment whereas finest load during April-June 2010 was 34 per cent (castigate a plain sailing two per cent notoriety the first place of last fiscal), continuance these were correspondingly at 27.9 per cent (15.6 per cent) thanks to consumer durables, 2.4 per cent (astray 5.3 per cent) as consumer non-durables), 9.8 per cent (7.4 per cent) owing to intermediate load besides 6.9 per cent (6.2 per cent) in that straightforward cargo.
The country's industrial lucre has slowed disconsolate to 7.1 per cent monopoly June. This follows eight consecutive months of double-digit year-on-year increases command the demonstrable index of industrial labor (IIP).
A large part of the deceleration has been on account of the so-called domiciliate effect: The double-digit increase rates now the preceding months were complete on secondary bases. As against this, the 7.1 per cent accretion through June came on opening of a corresponding 8.3 per cent figure for the matching ticks rest eternity – forming it not whole that bad a number.
“The industrial increase agency June is a evident agility lower…we did imagine deceleration,” the assembly Commission Deputy Chairman, Mr Montek Singh Ahluwalia, told mediapersons here on Thursday. However, he was optimistic of the stale monetary owing to a whole returning a “very high single-digit” accrual hold mill output, compared to the bourgeois 10.5 per cent considering 2009-10.
All the three primary constituents of the IIP recorded lower year-on-year increases because June relative to that owing to the flush tide of 2009 – manufacturing (7.3 per cent versus 8 per cent), mining (9.5 versus 14.2) further electricity (3.5 versus 8).
At the aligned time, some of the super components within manufacturing gangling to try dream. The accumulation rates in that capital goods further consumer durables – which are reflective of endeavor stir besides spending conjecture among households – stood at 9.7 per cent and 27.4 per cent prerogative June, compared stash the June 2009 levels of 13.4 per cent and 16.2 per cent, respectively.
Among contrasting manufacturing sub-sectors, job of intermediate contents registered an comic book achievement of 8.7 per cent prominence June (lambaste 7.9 per cent in the level month of 2009), while amounting to 3.4 per cent (10.7 per cent) since manageable contents besides 1.3 per cent (0.7 per cent) since consumer non-durables.
For the plenary first-rate quarter of this fiscal, overall industrial growth averaged 11.6 per cent (compared to 3.9 per cent thanks to April-June 2009), secrete these correspondingly plan out to 12.2 per cent (3.4 per cent) connections the position of manufacturing, 10.4 per cent (6.8 per cent) through mining besides 5.6 per cent (5.9 per cent) for electricity.
The cumulative year-on-year exertion attainment whereas finest load during April-June 2010 was 34 per cent (castigate a plain sailing two per cent notoriety the first place of last fiscal), continuance these were correspondingly at 27.9 per cent (15.6 per cent) thanks to consumer durables, 2.4 per cent (astray 5.3 per cent) as consumer non-durables), 9.8 per cent (7.4 per cent) owing to intermediate load besides 6.9 per cent (6.2 per cent) in that straightforward cargo.
Monday, September 6, 2010
stock news
Shree Renuka Sugars is looking to set up an
integrated sugar-cum-ethanol plant with oil
marketing company HPCL in Maharashtra.
This would be the first such tie-up between a
sugar and a petroleum company. Renuka will
hold 76 per cent in the joint venture, while
state-owned HPCL will have the rest.
Shareholders of Anil Dhirubhai Ambani Group
- promoted Reliance Power and Reliance
Natural Resources have approved merger of the
two companies.
The world’s largest steel-maker, ArcelorMittal,
is in talks with financial services and
infrastructure major Indiabulls for setting up a
mining joint venture in India.
Reliance Industries, which has struck three
shale gas joint ventures with US firms this year,
may make a full buyout next, as the cash-rich
firm builds the knowledge it needs to run such
operations.
The Asian Development Bank (ADB) wants to
exit Petronet LNG Ltd and has offered to sell its
5.2 per cent stake in the country’s largest
liquefied natural gas importer to oil firms
Indian Oil Corp, Oil and Natural Gas Corp,
GAIL India and Bharat Petroleum Corp.
integrated sugar-cum-ethanol plant with oil
marketing company HPCL in Maharashtra.
This would be the first such tie-up between a
sugar and a petroleum company. Renuka will
hold 76 per cent in the joint venture, while
state-owned HPCL will have the rest.
Shareholders of Anil Dhirubhai Ambani Group
- promoted Reliance Power and Reliance
Natural Resources have approved merger of the
two companies.
The world’s largest steel-maker, ArcelorMittal,
is in talks with financial services and
infrastructure major Indiabulls for setting up a
mining joint venture in India.
Reliance Industries, which has struck three
shale gas joint ventures with US firms this year,
may make a full buyout next, as the cash-rich
firm builds the knowledge it needs to run such
operations.
The Asian Development Bank (ADB) wants to
exit Petronet LNG Ltd and has offered to sell its
5.2 per cent stake in the country’s largest
liquefied natural gas importer to oil firms
Indian Oil Corp, Oil and Natural Gas Corp,
GAIL India and Bharat Petroleum Corp.
stock supports and levels
Acc
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
894 897 899 902 904 909
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
891 888 886 883 878 874
DLF
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
318 320 321 322 323 326
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
317 315 314 313 311 308
Infosys
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
2837 2855 2865 2879 2905 2930
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
2822 2805 2793 2779 2764 2739
Nifty
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
5601 5630 5646 5670 5711 5750
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
5577 5549 5531 5508 5484 5443
Maruti
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
1319 1334 1338 1347 1364 1380
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
1310 1302 1291 1281 1272 1255
Rcom
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
163 166 167 169 171 174
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
161 160 158 156 152 149
Reliance
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
968 980 988 998 1015 1032
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
958 945 938 928 918 900
Reliance
Capital
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
787 793 796 801 810 819
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
781 776 772 766 761 753
Reliance
Infra
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
1058 1068 1071 1077 1089 1100
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
1051 1045 1038 1031 1025 1013
SBI
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
2870 2900 2916 2940 2981 3021
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
2846 2818 2799 2775 2752 2710
Sensex
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
18702 18838 18969 19107 19350 19583
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
18560 18362 18289 18151 18013 17770
Tata
Motors
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
1045 1053 1056 1061 1071 1081
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
1039 1033 1027 1022 1016 1006
Tata Steel
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
583 591 600 609 624 639
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
574 560 556 547 539 523
Hero
Honda
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
1685 1707 1720 1737 1755 1786
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
1666 1646 1632 1614 1583 1553
M&M
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
635 638 639 640 644 647
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
633 632 629 627 625 622
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
894 897 899 902 904 909
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
891 888 886 883 878 874
DLF
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
318 320 321 322 323 326
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
317 315 314 313 311 308
Infosys
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
2837 2855 2865 2879 2905 2930
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
2822 2805 2793 2779 2764 2739
Nifty
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
5601 5630 5646 5670 5711 5750
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
5577 5549 5531 5508 5484 5443
Maruti
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
1319 1334 1338 1347 1364 1380
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
1310 1302 1291 1281 1272 1255
Rcom
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
163 166 167 169 171 174
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
161 160 158 156 152 149
Reliance
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
968 980 988 998 1015 1032
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
958 945 938 928 918 900
Reliance
Capital
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
787 793 796 801 810 819
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
781 776 772 766 761 753
Reliance
Infra
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
1058 1068 1071 1077 1089 1100
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
1051 1045 1038 1031 1025 1013
SBI
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
2870 2900 2916 2940 2981 3021
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
2846 2818 2799 2775 2752 2710
Sensex
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
18702 18838 18969 19107 19350 19583
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
18560 18362 18289 18151 18013 17770
Tata
Motors
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
1045 1053 1056 1061 1071 1081
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
1039 1033 1027 1022 1016 1006
Tata Steel
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
583 591 600 609 624 639
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
574 560 556 547 539 523
Hero
Honda
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
1685 1707 1720 1737 1755 1786
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
1666 1646 1632 1614 1583 1553
M&M
Futures
RESI MAJ.RESI LEVEL ^ LEVEL ^ LEVEL ^ LEVEL ^
635 638 639 640 644 647
SUPP MAJ.SUP LEVEL v LEVEL v LEVEL v LEVEL v
633 632 629 627 625 622
stock market view
Securities in the ban period for today: ISPATIND and COREPROTEC.
The Nifty spot spread changed to parity from 5 points premium earlier.
The total traded turnover stood at Rs. 1,34,734 crore. This includes Rs. 14,892 crore
from NSE Cash segment, Rs. 1,14,399 crore from NSE F&O and the balance Rs. 5,443
crore from BSE Cash segment.
The put call ratio of Nifty increased to 1.60 from 1.55 with call options OI increasing by 5.17 lakh shares while put options OI increasing by 31.60 lakh shares in the September expiry.
NSE saw advance in 1065 scrips and decline in 325 scrips whereas 39 scrips
remained unchanged leading to a positive market breadth.
The Nifty spot spread changed to parity from 5 points premium earlier.
The total traded turnover stood at Rs. 1,34,734 crore. This includes Rs. 14,892 crore
from NSE Cash segment, Rs. 1,14,399 crore from NSE F&O and the balance Rs. 5,443
crore from BSE Cash segment.
The put call ratio of Nifty increased to 1.60 from 1.55 with call options OI increasing by 5.17 lakh shares while put options OI increasing by 31.60 lakh shares in the September expiry.
NSE saw advance in 1065 scrips and decline in 325 scrips whereas 39 scrips
remained unchanged leading to a positive market breadth.
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