Tata Communications Ltd said on Wednesday it will delist from the New York Stock Exchange and terminate its American Depositary Receipts (ADR) programme. "Our decision to delist, deregister and terminate our ADR program was the result of several factors, including the fact that our ADR program had not developed the trading volumes we had initially hoped when we listed," Chief Executive Vinod Kumar said in a statement.
Kumar said a rule set by the Indian market regulator for listed companies to have a minimum 25 per cent public shareholding, excluding ADRs, was also a "crucial factor" in the decision.
Money-losing Tata Communications, one of the world's biggest undersea cable network operators, is a former Indian state monopoly, now controlled by the salt-to-software Tata conglomerate.
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05:45 PM, May 15, 2013
NYSE Euronext has launched the sale of its 4.8 per cent stake in the Multi-Commodity Exchange of India (MCX). the country's biggest commodity bourse, in a deal that could raise up to $46 million, a source with direct knowledge said. The transatlantic exchange operator is selling 2.44 million MCX shares in a range between Rs 1,005 and Rs 1,026 a share, said the source who requested anonymity as he was...
11:45 PM, Mar 06, 2013
With US stock market indices more than doubling since the financial crisis and the American housing market recovering, there are increasing hopes on Wall Street that a wider "wealth effect" could set in. ...
08:30 AM, Mar 06, 2013
Software services major Infosys will get listed on NYSE Euronext London and Paris markets on Wednesday, becoming the first Indian company to be admitted to trade on the leading global bourse. Infosys CEO and Managing Director SD Shibulal will be in London to mark the first cross listing of an Indian company, a company statement said. ...
01:30 PM, Feb 19, 2013
New York: In October, Jeff Sprecher, chief executive of upstart IntercontinentalExchange, approached NYSE Euronext CEO Duncan Niederauer with a modest proposal to team up on clearing trades in London. As the men continued talking, Sprecher grew bolder, instead suggesting that ICE buy NYSE in what became an $8.2 billion deal announced on Thursday. The deal will link up two powerful derivatives exchange and clearing house operators, but threatens to further...
01:53 PM, Dec 21, 2012
Bangalore: IT services firm Infosys Ltd, the first Indian company to list on Nasdaq, will shift its American Depositary Shares to the NYSE Euronext in a move it said is intended to increase access to the stock for European investors. Infosys, India's second-largest software services provider, is also seeking listing of its ADS on the Paris and London boards of NYSE Euronext. The moves will not affect its float or...
02:39 AM, Dec 01, 2012
New Delhi: Leading bourse Bombay Stock Exchange has extended its lead as the world's top exchange in terms of the number of listed companies, outpacing the major global peers like NYSE, Nasdaq and London Stock Exchange by almost 100 per cent. The BSE had a total of 5,174 companies listed on its platform at the end of last month, outpacing its closed rival Canadian bourse TMX Group by more than...
03:20 PM, Nov 25, 2012
New York: Two major airports reopened and the floor of the New York Stock Exchange came back to life Wednesday, while across the river in New Jersey, National Guardsmen rushed to rescue flood victims and fires still raged two days after Superstorm Sandy. For the first time since the storm battered the Northeast, killing at least 57 people and doing billions of dollars in damage, brilliant sunshine washed over the...
08:29 PM, Oct 31, 2012
New York: Sandy split New York City in two. The massive storm left people damp, miserable and in the dark in the lower part of the city. Yet in much of the rest of Manhattan, life was almost normal, albeit without some of the usual urban comforts. Almost every street below Times Square in the city's Midtown district lost power on Monday night after an explosion at a Consolidated Edison...
06:40 PM, Oct 31, 2012
New York: Stock trading will be closed in the US for a second day Tuesday as Hurricane Sandy bears down on the East Coast. Bond trading will also be closed. The last time the New York Stock Exchange was closed for weather was in 1985 because of Hurricane Gloria, and it will be the first time since 1888 that the exchange will have been closed for two consecutive days because...
12:18 AM, Oct 30, 2012
New York: The New York Stock Exchange will close its trading floor Monday as Hurricane Sandy barrels its way up the Northeast, but Big Board trading will continue electronically. NYSE Euronext said Sunday it is putting in place its contingency plans beginning Monday and will announce later when the trading floor will reopen. The New York Mercantile Exchange, a commodity futures exchange, also will be shutting on Monday its trading...
07:18 AM, Oct 29, 2012
New York: A reported threat from an activist hacker group to take protests against Wall Street to the Internet by crippling the New York Stock Exchange website appeared to come to nothing on Monday. A spokesperson for NYSE said there was no interruption to web traffic and no sign of a hacker attack, although some media outlets reported that the exchange's website slowed for some minutes shortly after 3:30 p.m....
08:16 AM, Oct 11, 2011
Chicago: Boeing Co Chief Executive James McNerney's compensation was valued at $19.7 million in 2010, up 1.5 per cent from the previous year, as Boeing saw a rebound in commercial airplane orders, Boeing said in its proxy filing on Friday. The figure includes McNerney's salary, bonuses, stock and options award and changes to his pension. McNerney's annual bonus amounted to $4.4 million. Boeing and other aerospace companies are recovering from...
08:37 AM, Mar 19, 2011
Dow has now lost more than half its value since a record high in October 2007. ...
02:38 AM, Mar 03, 2009
The benchmark S&P 500 and Nasdaq market both fell more than five per cent. ...
08:11 AM, Jan 21, 2009
Satyam shares plunged over 90 per cent at the NYSE on Monday. ...
12:16 AM, Jan 13, 2009
The nearly 400-pt rally on Monday sent the market upbeat. ...
12:23 PM, Nov 25, 2008
Citigroup shares jumped more than 30 pc to $5.07 before opening in NYSE. ...
03:04 AM, Nov 25, 2008
The Dow Jones Industrial Average added 248 points, or 2.9 per cent. ...
07:31 PM, Nov 08, 2008
US markets slumped only a day after electing a new president. ...
11:11 AM, Nov 07, 2008
