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According to reports, Radio City is ranked No. 1 in terms of number of listeners The initial public offer (IPO) of   Music Broadcast Limited   (MBL) that owns FM radio channel, Radio City, opens today for subscription. The issue consists of equity shares of face value of Rs 10 each for cash at a premium consisting of a fresh issue of up to Rs 400 crore and an offer for sale up to 2,658,518 equity shares. The price band for the offer is fixed from Rs 324 to Rs 333 per equity share. The issue proceeds will be used to repay most of its Rs 300 crore debt, thereby reducing its interest cost and improving the overall cash flow. Last week, Music Broadcast Limited finalised allocation of 44,01,158 equity shares to anchor investors at Rs 333 per equity share, aggregating Rs 146.56 crore. According to reports, Radio City is ranked No. 1 in terms of number of listeners, total 49.6 million listeners across top 23 cities, followed by Entertainment Network India Ltd (ENIL) with 40...

Is it a good time to buy Infosys? Royal Bank of Scotland’s (RBS’) last week’s decision of not pursuing its plan to separate and list a new bank – Williams & Glyn   (W&G) – hit   Infosys   in trade on Tuesday with the stock plummeting 3% in intra-day deals to its eight-month low of Rs 1,028 levels on the National Stock Exchange (NSE). Click here to track Infy's stock price movement Since then, it has recovered and is trading at Rs 1,046 levels, down nearly 1.5% around noon deals. By comparison, the Nifty 50 index was trading lower by 0.7% at 8610 levels, while the Nifty IT index slipped 1.3% to 11,029 levels. Also Read:   I am disappointed, says Infosys CEO Vishal Sikka in a letter to employees Given the RBS’ decision, Infosys would see a ramp down of around 3,000 resources. The likely impact on revenue could be around $50 million, reports suggest. This comes at a time when Infosys recast its annual revenue guidance for FY17 while announcing its ...

A sharp rally in equity market post Union  Budget   2016 - 17 presentation has seen over 90% of stocks in the BSE 500 segment give a positive return in the past four trading sessions. As many as 466 stocks from the BSE 500 index have rallied by up to 42% since February 29, as the BSE Sensex gained 1,644 points or 7.15% in the last four trading sessions ending at 24,646 points on March 4. Show full article Read more from our special coverage on "MARKETS" India remains a buy-on-dips market: Prabhat Awasthi Markets  likely to open flat; steel stocks in focus Markets log best weekly gain in seven years on FII buying 3 amendments that resulted in bank rally Markets consolidate after 3-day run Is the worst over? Nifty faces big resistance between 7,450 and 7,600 India remains a buy-on-dips market: Prabhat Awasthi Use rally to exit PSBs, say analysts Global factors to drive markets from here on: Tirthankar Patnaik

After tumbling 800 points on Thursday and wiping off Rs 3-lakh crore of investor wealth, the markets resumed their journey south on Friday after a firm start. From their peak levels, the S&P BSE Sensex and the Nifty 50 index have lost nearly 24% till date. Given the magnitude of fall in the Indian benchmarks on the back of a host of global and domestic factors, analysts suggest that the pain is not likely to go in a hurry. They expect the indices to dip further in case the global macros do not stabilise. Also Read:  FII holding falls to three-year low in December quarter A K Prabhakar, head of research, IDBI Capital, says: "In case the correction across global markets picks up pace, we can expect the Nifty to hit 6,357 levels, which is the high level of 2008. The fall in the markets does seem to be a repeat of 2008. Also Read:  5 reasons why Sensex slipped over 800 points "A lot of global indices have breached their two-year low leve...