Wockhardt cuts IPO price band to Rs 225-260(The Hindu Business Line 31th Jan 2008)Wockhardt Hospitals has revised downwards the price band of its initial public offering of shares. The price band is now Rs 225 (at the lower end) and Rs 260 (at the upper end) per equity share, The earlier price band was Rs 280-Rs 310 per equity share, said a statement issued on behalf of the company. More
Interest rates unlikely to go down (The Economic Times 4th Jan 2008)Interest rates are unlikely to fall in near future as it was expected with the State Bank of India raising the fixed deposit rate of various maturities up to 1.5 percentage points. Other banks are also planning to raise deposit rates. After SBI increasing deposit rates, other banks have no choice but to raise the rates to mobilize resources in the domestic market, chairman of a public sector bank said. As the cost of funds for banks will increase, they will resort to raising the lending rates. A senior banker said banks would announce the increased rates in near future. More Gold zooms past Rs 11,000 per 10 gm (The Hindu Businessline 4th Jan 2008)Gold prices made history as they soared to a record $ 865.35 an ounce in the London A.M fixing on Thursday, tracking which the domestic gold surged to Rs. 11,000 per 10 gm. On Wednesday, gold was fixed at $ 840.75/oz in London while in the Indian market it quoted at Rs 10,70
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