SAIL market cap at all time high
Kolkata: Steel Authority of India (SAIL's) market capitalisation touched an all time high of more than Rs50,000 crore for the first time.

The scrip touched Rs124 on the Bombay Stock Exchange Wednesday and finally closed at Rs122.75. Volumes on BSE were at 5,241,971 shares and on NSE at 20,651,142 shares.

SAIL's total share capital is Rs4,130.40 crore. Market sources say the rise is due to an expected rise in steel prices in the coming months and a best-ever financial performance from the company.
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TCS may list overseas
Mumbai: Tata Sons, the holding company of the Tata group, is considering a $1 billion-plus (over Rs4,300 crore) overseas equity sale in Tata Consultancy Services (TCS) this year to fund acquisitions of other entities.

The group is examining the pros and cons of listing on the London, Luxembourg and New York stock exchanges.

A listing on the New York Stock Exchange, where Infosys, Wipro and Satyam - are listed, gets immediate attention from global brokerages but is a cumbersome process as companies have to adhere to time consuming compliance norms under the Sarbanes-Oxley regulations.

A listing on the London Stock Exchange is easier, but no major Indian software firm is listed on this bourse yet. The possibility of TCS listing in Luxembourg appears to be the least likely option.

Bankers said raising funds through an equity sale in TCS makes sense as Tata Sons holds a 78.35-per cent stake in the country's largest software company. As a policy, Tata Sons chips in with funds whenever any group entity makes a major acquisition.
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Reliance Capital launches retail broking operations
Mumbai: Reliance Capital has announced its foray into the brokerage business through Reliance Money promoted by Anil Dhirubhai Ambani Group firm Reliance Capital.

Reliance Money will offer a 'fixed' flat fee structure and would offer highly competitive rates based on the flat fee structure instead of the contemporary system where investors pay brokerage fees (percentage) for each transaction conducted in the stock markets.

Reliance Money would offer the brokerage services across 700 cities including Delhi and Mumbai through 3,000 outlets.

Investors would need to pay brokerage at the rate of 0.05 per cent for delivery trades and 0.005 per cent for non-delivery trades (fixed fee of Rs500 for delivery trades up to Rs10 lakh and/or non-delivery trades up to Rs1 crore), the company said.

Industry rates vary between 0.4 per cent to 0.85 per cent for delivery trades and between 0.05 per cent and 0.10 per cent for non-delivery trades.

Reliance Money consumers can trade in equities, commodities and offshore investments, IPOs, mutual funds besides insurance, money transfer and money changing - all through single window, both off-line and online.

The company has already tied-up with UK's CMC Capital Plc to offer offshore investment products to Indian consumers as per RBI guidelines.
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