The Mumbai police’s famed intelligence network and its vast array of underworld informants were totally in the dark over the visit of a fugitive gangster to the city to lay the groundwork for a couple of sensational gangland hits.

The Saudi BinLadin group along with IL&FS has made an open offer for 1.54 crore shares of Maytas Infrastructure at a price of Rs 195.72.
These shares will account for 20 per cent of the voting capital of Maytas. Mumbai based Edelweiss is the manager to the offer. Total value of the offer works out to Rs 301.8 crore. The offer opens on August 12 and closes on August 31.

Cheap drugs made in India could transform the global healthcare industry, says Nomura, a Japanese broking and research firm. As healthcare demand in the west increases with ageing populations, cash strapped governments will have to find ways to keep costs under control.

The condition of renowned cartoonist R.K. Laxman, who was airlifted from Pune to Mumbai after he suffered a stroke, continues to be critical but stable, family sources said here on Monday.

In the past 15 years, over 150 employees of the country’s premier nuclear research centre, Bhabha Atomic Research Centre have died of cancer.
The information sought under Right to Information Act shows that 150 employees from Barc have died of the killer disease from 1995 till May 2010.

Shares of Maytas Infrastructure fell on Monday after the price of open offer — to be made jointly by IL&FS and Binladin Group — came out below expectations.
The offer price has been fixed at Rs 195.7 — a discount of over 7 per cent to Friday’s closing price. The stock price of Maytas was down 3 per cent and closed at Rs 204.5.
On Saturday, the Binladin group had acquired a 20 per cent equity stake in Maytas via a preferential allotment. The transaction has brought in around Rs 300 crore on the Maytas balance sheet.
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After being in the dumps for almost a month, metal stocks finally shone in the markets on Monday. The BSE Metal index was up over five per cent — the highest amongst all sectoral indices. The past month had seen some of the key metal stocks fall 20-30 per cent. Internationally too, prices of metals such as copper, aluminum etc. were up on the London Metals Exchange. China’s move to allow the Yuan to move from its dollar peg is the reason for the optimism in the sector, say experts.

The weekend global good news of China allowing a flexible yuan and the decision of the Indian government to keep Unit Linked Insurance Plans (Ulips) under the purview of the insurance regulator IRDA saw the Indian markets regain their positive momentum.

Before putting money on a share, investors are advised to look at the company, business, balance sheet etc.

Deputy chief minister Chhagan Bhujbal has created a flutter by publicly admonishing his own party — the Nationalist Congress Party — for giving undue importance to the caste of candidates.