SRS IPO opens today

SRS ' 3.5 crore shares IPO has opened for subscription today. It has fixed issue price at Rs 58-65 a share.

It is a diversified company having businesses like cinema exhibition, food and beverages, retail and manufacturing and jewellery retail.

The issue, which constitutes 25.13% of the post-issue share capital, will close for subscription on August 26, 2011.

Bids can be made for a minimum of 100 equity shares and in multiples of 100 shares thereafter.

The company aims to raise Rs 227.5 crore through the issue at higher end of price band. It intends to use these proceeds for setting up cinemas, food courts and restaurants, retail stores and jewellery manufacturing facility.

The company reported a rise of more than 56% in its total income for FY11 to Rs 2,077.71 crore as compared to previous financial year. Net profit in the same period jumped 43.4% to Rs 37.51 crore.

Accenture plans to acquire Zenta

IT major Accenture is planning to acquire residential and commercial mortgage processing service provider Zenta for an “undisclosed amount’’.

The acquisition would help Accenture to help lenders and real estate investment trusts streamline their operations, enhance customer experience and improve profitability, a company statement issued here said.

“This acquisition will help our clients address the challenges by combining Zenta’s resources and expertise in mortgage processing, with Accenture’s long track record helping financial institutions design and execute complex, large-scale business transformations,” Accenture Credit Services Global Managing Director, Mr Terry Moore, said.

According to the terms of the agreement, Accenture would launch ‘Accenture Credit Services’, a full-service consulting, technology and BPO operations in residential, mortgage and commercial real estate business. Zenta’s mortgage processing capabilities would be the key component for this service.

The US-headquartered Zenta is one of the top three providers of mortgage processing services in the US. Following the acquisition, 3,700 employees of Zenta are expected to join Accenture, the statement added.

Sensex ends up 157 pts on global cues

Indian equities continued their uptrend for the second consecutive session on Tuesday with the Sensexrising about 350 points in two days. Positive global cues led the rally in today's trade. However, the market was lacklustre in the morning trade amid volatility.

According to Devangshu Datta, Consulting Editor at Outlook, it is almost certainly a technical pull back in today's and yesterday's trade including a fair amount of FII short covering or hedge fund short covering.

The 30-share BSE Sensex gained 156.77 points, to close at 16,498.47 and the 50-share NSE Nifty rose 50.1 points, to settle at 4,948.9.

Experts, however, warn that there may be selling pressure going ahead in short term.

अभी सही आजादी नहीं मिली है : अन्ना

आठ दिन से अनशन कर रहे अन्ना हजारे ने लोगों को मंच से संबोधित करते हुए कहा है कि मेरी सेहत ठीक है। मेरी चिंता मत कीजिए। उन्होंने कहा है कि अभी सही आजादी नहीं मिली है। आजादी की दूसरी लड़ाई जारी है। अन्ना ने कहा कि उन्हें डॉक्टरों की टीम पर पूरा भरोसा है। वे उन्हें मरने नहीं देंगे। मैं अनशन पर इसलिए बैठा हूं कि लोगों को सही आजादी मिले।

उन्होंने कहा कि मैंने अपना पूरा जीवन देशवासियों के लिए समर्पित कर दिया है। सालों से मैं अपने घर नहीं गया हूं। मेरे तीन भाई हैं लेकिन मुझे ये भी नहीं मालूम कि उनके बच्चों का नाम क्या है। उन्होंने कहा कि दूसरों के लिए जीना असली जीना है। उन्होंने आगे कहा कि देश बदलने के लिए पहले गांवों को बदलो। अन्ना रहे ना रहें क्रांति की मशाल जलती रहनी चाहिए। उन्होंने शराब पीकर आंदोलन में आने लोगों से विनती की वे ऐसा न करें क्योंकि यह अंहिसा का आंदोलन है इस पर कोई दाग नहीं लगना चाहिए। हिंसा से इस आंदोलन को धक्का लगेगा।

Govt calls all-party meet to discuss Lokpal Bill

Amid the standoff with Team Anna over the Lokpal Bill, government has convened an all-party meeting tomorrow to find a way to solve the issue.

Leaders of all political parties have been invited to attend the meet scheduled for 3.30 pm tomorrow.

Sources said government is of the view that some of the demands put forth by Hazare and his associates require a wider political consensus before a decision could be taken.

In a related development, Prime Minister Manmohan Singh today held a detailed meeting with Chairman of the Parliamentary Standing Committee, Abhishek Manu Singhvi, looking into the Lokpal Bill.

Sources said the meeting discussed various options to end the impasse over the issue as Hazare''s fast entered the eighth day today.

Singhvi had yesterday said that difference between the government and Hazare on Lokpal Bill were more to do with methodology rather than content and said the Committee on Law and Justice and Personnel was open to all kinds of opinions and inputs to send a strong and acceptable to all Lokpal Bill back to Parliament.

Congress member Praveen Singh Aron has already submitted a copy of Hazare''s Jan Lokpal Bill for consideration of the Committee.