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Moneycontrol News Archive : 11 April, 2005

  • VSNL defers demerger of surplus land

    11th April, 2005 19:22

    The VSNL demerger decision has been deferred by the board in its meeting held on April 11, 2005, in order to obtain "further information and clarifications".

  • J P Morgan forecasts low growth for Infosys

    11th April, 2005 18:20

    Bhavin Shah of J P Morgan said that the Infosys guidance could be lower at 26-27% revenue growth and 22-23% net growth.

  • Watch Rs 59 levels for SAIL: Bhambwani

    11th April, 2005 18:09

    Not being in futures trading is a big help for SAIL, feels technical analyst Vijay Bhambwani.

  • Ratan Tata steps down as VSNL chairman

    11th April, 2005 17:57

    Subodh Bhargava will be the new chairman. Ratan Tata, however, will continue to look over Tata's telecom business and continue strategising for all four of the gro

  • Market's to see deeper correction: Kapoor

    11th April, 2005 17:46

    According to analysts, the market may get into a deeper correction taking cues from the global slowdown.

  • Go short on the Nifty: Iyengar

    11th April, 2005 17:26

    Derivatives analyst Srikanth Iyengar of Edelweiss Capital advises investors to go short on the Nifty. He also says that if anyone wants to speculate on the market

  • Rupee up as banks pare dollar positions

    11th April, 2005 17:12

    Rupee ended up as banks pared dollar positions noting the latter's weakness abroad ahead of the US trade data on Tuesday. Bond prices steadied in last one hour.

  • Vesuvius Q1 net up 21.03% at Rs 58.7cr

    11th April, 2005 16:53

    Vesuvius India has reported an increase of 21.03% in its net profit for the first quarter of FY05 at Rs 58.7 crore from Rs 48.5 crore.

  • Hold ICICI Bank, says Mehta

    11th April, 2005 16:42

    Dipan Mehta, BSE member, says investors and particularly small investors can get 25-30% returns in next couple of years if they hold on to ICICI Bank.

  • Absolutes are deceptive

    11th April, 2005 16:30

    Absolutes never tell the true story. Find out why.

  • Guarantees don't come for free

    11th April, 2005 16:24

    There are no free lunches. You will pay a price for it in some way or the other. Read on to find out.

  • Asian markets end lower, Nikkei down 1%

    11th April, 2005 16:13

    Asian markets closed lower. Tokyo’s Nikkei closed down 1.09% amid losses in marine transport and machinery stocks.

  • Buy Essar Steel at support zone of Rs 47-50

    11th April, 2005 16:08

    Technical analyst, Prakash Gaba, suggests buying Essar Steel stock at around its strong support zone of Rs 47-50. In the long term the stock can reach up to a leve

  • Growth rate of 30% to continue: Mastek

    11th April, 2005 16:04

    Chairman of Mastek says that the annual growth rate of 30% will continue, and the company has ambitious expansion plans in Mumbai and Chennai. The CEO will be sent

  • Higher capacities have helped exports: PSL

    11th April, 2005 15:54

    PSL attributes the growth in exports to availability of higher capacities.

  • IFC to hike India portfolio by 50%: Kline

    11th April, 2005 15:40

    IFC has plans to increase investment in the financial and infrastructure sectors. The global agency has a few words of praise for the Indian government when it com

  • Wipro is a good investment stock: Gaba

    11th April, 2005 15:28

    Prakash Gaba is of the view that Wipro is a good investment stock. Its structure is positive and it is unlikely to go below Rs 600.

  • Essar Steel among major gainers

    11th April, 2005 15:07

    Essar Steel has touched an intraday high of Rs 57.75 and an intraday low of Rs 53.05. At 2:44 pm the share is quoting at Rs 57.10, up Rs 3.15, or 5.84%.

  • Govt plans asset sale in 13 PSUs

    11th April, 2005 15:00

    Thirteen companies are expected to come under the divestment hammer, according to unnamed, highly placed, ministry sources.

  • Sonata Software down on selling pressure

    11th April, 2005 14:47

    Sonata Software has touched an intraday high of Rs 31.20 and an intraday low of Rs 29.50. At 2:16 pm the share is quoting at Rs 29.70, down Rs 1.25, or 4.04%.

  • Large volumes in Marico due to block deals

    11th April, 2005 13:40

    Deepak Mohoni feels that the exceptionally large volumes traded on the Marico stock is due to block deals.

  • Wise to sit in cash now: Srivastava

    11th April, 2005 13:35

    According to Ajay Srivastava of Dimensions Consulting, it is wise to sit in cash in this kind of market as there are no earning opportunities in the short term. He

  • Nifty futures to be short: Bose

    11th April, 2005 13:29

    Technical analyst Rajat Bose says that he would definitely go short on Nifty futures as Nifty's one month future is looking quite weak and if it were to go below 2

  • GRUH Finance up on large volumes

    11th April, 2005 13:10

    GRUH Finance has touched an intraday high of Rs 54.75 and an intraday low of Rs 48. At 12:50 pm the share is quoting at Rs 53 up Rs 6.90, or 14.97%.

  • Keep stoploss of Rs 275 in Glenmark: Gaba

    11th April, 2005 12:48

    Prakash Gaba is of the view that investors should keep a stoploss of Rs 275 in Glenmark Pharma.

  • Mastek Q3 net seen up at Rs 13.8cr: Poll

    11th April, 2005 12:43

    According to a CNBC-TV18 poll, Mastek Q3 net profit is likely to grow to Rs 13.8 crore.

  • Esab India firms up

    11th April, 2005 12:36

    Esab India has touched an intraday high of Rs 183.50 and an intraday low of Rs 171. At 12:16 pm the share is quoting at Rs 174.50, up Rs 2.75, or 1.60%.

  • HDFC Bank Q4 net seen up 32%: Poll

    11th April, 2005 12:12

    According to a CNBC-TV18 poll, HDFC Bank’s Q4 net profit is likely to go up 32.25% from Rs 154.72 crore to 204.62 crore.

  • Tata group to invest Rs 100bn in telecom

    11th April, 2005 11:51

    India's Tata group plans to spend Rs 100 billion to develop telecommunication services in the next 12-18 months.

  • S&P raises offer price for Crisil stake

    11th April, 2005 11:48

    S&P has raised the price of its open offer for shares of Crisil to Rs 775 per share from Rs 680.

  • SREI inks deal with Tata Motors

    11th April, 2005 11:43

    SREI International Finance Ltd with its associate company, Indian Infrastructure Equipment Ltd (IIEL) popularly known as Quipo, have struck a major deal with Tata

  • Markets weak: Technology, metal down

    11th April, 2005 11:31

    The markets are trading lower following selling pressure in the technology, metal, bank, pharma, cement, oil, and FMCG stocks.

  • Only buyers in Alstom, stock up 20%

    11th April, 2005 11:17

    Alstom has touched a 52-week high of Rs 131.10. At 10:51 am the share is quoting at Rs 131.10, up Rs 21.85, or 20%.

  • Bata announces rights price, stock down

    11th April, 2005 11:02

    Bata India took a dip after it informed the BSE that is has fixed the issue price of rights shares at Rs 54. At 10:33 am the share is quoting at Rs 92.50, down Rs

  • ABB expects 39% rise in net profit: Poll

    11th April, 2005 10:44

    According to CNBC-TV18's estimates, ABB is expected to post a 39% increase in its net profit for the quarter ended March 2005 at Rs 23.58 crore. Sales are expected

  • Huawei Tech to invest $100 mn in India

    11th April, 2005 10:32

    Chinese technology company, Huawei Technologies, is the first and only company to set up base in India. It plans to invest $100 million over the next two years

  • S&P raises Crisil offer price, stock up

    11th April, 2005 10:20

    Crisil has touched a 52-week high of Rs 765. At 09:57 am the share is quoting at Rs 765 up Rs 60, or 8.51%. The rise is seen after S&P raised its offer price to Rs

  • FM hints at FDI in retail for agriculture

    11th April, 2005 10:05

    The finance minister hinted at FDI in retail for the agricultural sector, but said that political consensus is necessary before moving ahead on this issue.

  • F&O Strategy on ITC

    11th April, 2005 10:00

    F&O Strategy on ITC by KR Choksey.

  • Chinese Premier, Wen Jiabao in India

    11th April, 2005 09:54

    Chinese Premier Wen Jiabao's visit began in the IT city Bangalore where he kick started his trip visiting the campus of Tata Consultancy Services. While there was

  • Stocks in news: Crisil, Mastek, VSNL

    11th April, 2005 09:42

    Stocks in news: Mastek, VSNL, MphasiS, Vesuvius, OBC, Bharti Tele, Jet Airways, Polaris Software, Hindalco, Simbhaoli Sugar, Ashok Leyland, HLL, IVRCL, Nahar Intl

  • Market Cues: FIIs net buy $13.70 mn

    11th April, 2005 09:29

    Market Cues: FIIs net buy $13.70 million on Thursday and MFs net buy Rs 69.45 crore (Rs 694 million) on Thursday.

  • Gold likely to move sideways: Chinchalkar

    11th April, 2005 09:01

    Gold is likely to move sideways in the short term, but looks bearish in the long term says Chinchalkar.

  • Equity calls: Dhawan, Iyengar, Mohindar

    11th April, 2005 08:40

    Markets are in a short term downtrend, and are awaiting results for fresh triggers, says Dhawan.

  • Essar Steel may go up to Rs 70 in long term

    11th April, 2005 18:29

    Technical analyst Vijay Bhambwani feels that the stock may go up to Rs 70 in the 12 to 15 month period to come.

  • Bhambwani bearish on Satyam under Rs 425

    11th April, 2005 18:14

    Satyam will only look up if it manages to go beyond Rs 425, feels technical analyst.

  • Good support for Tisco at Rs 374: Bhambwani

    11th April, 2005 18:05

    As long as Tisco stays above 374, there could be a minor pullback, feels technical analyst Vijay Bhambwani.

  • Infosys has to stay above 2250: Bhambwani

    11th April, 2005 17:51

    Infosys and the whole tech pack is under pressure, feels technical analyst Vijay Bhambwani.

  • Air Sahara to raise fares by 12%

    11th April, 2005 17:46

    Air Sahara is planning to raise its fares by 12% due to the fuel price hike. However, Air Sahara will not increase apex and promotional fares.

  • F&O trade closes with low volumes

    11th April, 2005 17:12

    F&O trade turnover shrank further, with Rs only 6795.82 crore (Rs 67.96 billion) traded. Nifty futures discount narrowed due to the pressure on the cash market at

  • EPS to get better going forward: Vesuvius

    11th April, 2005 16:59

    Biswadeep Gupta, MD of Vesuvius expects their EPS to be better going forward.

  • Tishman, ICICI Ventures form JV

    11th April, 2005 16:47

    Tishman Speyer properties and ICICI Ventures have formed a JV for real estate development.

  • HSBC launches India Midcap Fund

    11th April, 2005 16:36

    HSBC has launched its India Midcap Fund. Sanjiv Duggal of HSBC Mutual Fund says that in terms of launch timing, this is basically to complement our existing portfo

  • Heavyweights drag markets down: Tech weak

    11th April, 2005 16:24

    The markets witnessed a sharp fall following the weakness in most of the index heavyweights. The technology, oil, and bank stocks were among the major losers. Volu

  • F&O trade logs still lower volumes

    11th April, 2005 16:16

    F&O trade turnover shrank further, with only Rs 6795.82 crore (Rs 67.96 billion) traded. Nifty futures discount narrowed due to the pressure on the cash market at

  • Igarashi to invest Rs 80cr for expansion

    11th April, 2005 16:09

    Igarashi Motors plans to expand existing capacity, with an investment of Rs 80 crore. With Igarashi India's sales expected to double to Rs 100 crore, it means a lo

  • Is the guarantee from your insurer worth it?

    11th April, 2005 16:08

    In a bid to attract customers, several life insurance companies are providing guaranteed returns. As a customer, you need to understand whether the guarantee is re

  • Stoploss of Rs 31 advised for Varun Shipping

    11th April, 2005 16:02

    Prakash Gaba is of the view that investors should keep a stoploss of Rs 31 in Varun Shipping. The stock may touch Rs 47 if it crosses Rs 37.

  • Exit Shipping Corporation, says Gaba

    11th April, 2005 15:45

    Prakash Gaba is of the view that investors should exit Shipping Corporation at current levels. Its structure looks weak.

  • India, China to make gains on border, trade

    11th April, 2005 15:34

    Chinese Premier, Wen Jiabao and Indian Prime Minister, Manmohan Singh, are set to settle a decades-old border dispute as the nuclear rivals aim to build a new "bri

  • Exit Garden Silk at Rs 58-63, says Gaba

    11th April, 2005 15:11

    Prakash Gaba is of the view that investors should exit Garden Silk Mills if it goes upto the resistance level of Rs 58-63.

  • Markets down amid broadbased selling

    11th April, 2005 15:00

    The markets are down amid broadbased selling almost across the board. Weakness is seen in the technology, oil, metal, auto, bank, cement, media, pharma, telecom, a

  • Mastek announces results, stock up

    11th April, 2005 14:54

    Mastek has touched an intraday high of Rs 389 and an intraday low of Rs 368.15. At 2:34 pm the share is quoting at Rs 379, up Rs 1.55, or 0.41%. It has announced a

  • ALLSEC Tech growing aggressively: Saravanan

    11th April, 2005 14:19

    Adi Saravanan of ALLSEC Technologies says that we are growing very aggressively because over a period of last three years we have consolidated quite a lot of our o

  • Mastek Q3 net up 7.7% at Rs 13.8cr

    11th April, 2005 13:36

    Mastek Group has announced its third quarter numbers today. It has posted a net profit growth of 7.7% quarter-on-quarter to Rs 13.80 crore from Rs 12.80 crore.

  • Infosys is particularly weak: Mohoni

    11th April, 2005 13:30

    Deepak Mohoni is of the view that the tech biggies, Infosys, Satyam and Polaris are all looking weak.

  • Still overweight on India: Aberdeen

    11th April, 2005 13:14

    Aberdeen Asset Management's Investment Manager says that Aberdeen is over weight on India and it will continue doing so in the medium term.

  • Market to take cue from results: Chadha

    11th April, 2005 12:53

    According to Ravi Chadha of Prodigy Investments, market will take cues from the results. He also said that with the start of the week one might see a drift in the

  • Surya Pharma flares up

    11th April, 2005 12:44

    Surya Pharma has touched an intraday high of Rs 145.50 and an intraday low of Rs 136. At 12:24 pm the share is quoting at Rs 142.70, up Rs 9.45, or 7.09%.

  • Only buyers in VXL Instruments, stock up

    11th April, 2005 12:40

    VXL Instruments has touched an intraday high of Rs 48.45 and an intraday low of Rs 46.80. At 12 pm the share is quoting at Rs 48.45, up Rs 4.40, or 9.99%.

  • Chocolatier sweetens people's palate

    11th April, 2005 12:27

    Belgique Chocolates is all set to tempt.

  • Nifty at 2000-2005 will drag markets down

    11th April, 2005 12:00

    According to analysts, if Nifty were to close below 2000 -2005 levels, markets would definitely go down further.

  • LIC to tender 5.7% stake: Gujarat Ambuja

    11th April, 2005 11:49

    LIC is likely to tender 5.7% stake in the Holcim open offer for ACC, according to Anil Singhvi of Gujarat Ambuja. He also said that there are indications of good r

  • Bata India's Rights Share at Rs 54

    11th April, 2005 11:47

    Bata India Ltd has informed the Bombay Stock Exchange that the Rights Issue Committee has fixed the issue price of the Rights Shares at Rs 54 including face value

  • Block deals in Marico, stock firms up

    11th April, 2005 11:34

    Marico Industries has moved up on large volumes. At 10:53 am the share is quoting at Rs 253.30, up Rs 8.60, or 3.51%.

  • Igarashi announces results, stock up

    11th April, 2005 11:27

    Igarashi Motors has touched a 52-week high of Rs 170.50. Its FY05 turnover has crossed Rs 100 crore as compared to Rs 50 crore in FY04. At 11:07 am the share is qu

  • Stoploss of Rs 345 advised in Bombay Dyeing

    11th April, 2005 11:08

    Prakash Gaba is of the view that investors may target Rs 411 in Bombay Dyeing. However, a stoploss of Rs 345 is advised.

  • Above Rs 66, Bank of Rajasthan may hit Rs 78

    11th April, 2005 10:57

    Prakash Gaba is of the view that Bank of Rajasthan may touch Rs 78 if it crosses the resistance level of Rs 66.

  • Markets weak: Tech stocks decline

    11th April, 2005 10:33

    The markets have opened on a weak not following negative cues from the global markets. Several technology, bank, and metal stocks are witnessing selling pressure.

  • Jindal Photo touches a new high

    11th April, 2005 10:28

    Jindal Photo has touched a new high of Rs 318. At 10:09 am the share is quoting at Rs 312, up Rs 28.50, or 10.05%

  • Exempt superannuation plans from FBT: IRDA

    11th April, 2005 10:16

    The insurance regulator IRDA has made a strong case before the Finance Minister to exempt superannuation plans from the purview of fringe benefit tax, reports CNBC

  • Earthquake jolts Tokyo region this morning

    11th April, 2005 10:04

    A strong earthquake with a magnitude of 6.1 jolted the Tokyo region this morning.

  • Crude oil falls for sixth straight session

    11th April, 2005 09:56

    Crude oil prices have fallen for the sixth straight session, the longest decline since August. It has touched a low of $52.90 a barrel in Asian trade this morn

  • Money calls: Vaidya, Desai

    11th April, 2005 09:50

    The bond market is expected to be rangebound today, and is trading with a weak bias. The 10-year bond is expected to trade in the 7-7.05% range, says Vaidya.

  • Rupee to weaken against the dollar

    11th April, 2005 09:38

    The rupee is likely to weaken against the US dollar on expectations that the latter could strengthen against other major currencies on views that US interest rates

  • F&O cues: Nifty Futures remain at discount

    11th April, 2005 09:28

    NSE F&O cues: Nifty Futures continues to be at a discount of 10 points. Volumes improve with a turnover of more than Rs 8,813 crore (Rs 88.13 billion).

  • Asian markets trading lower, Nikkei down

    11th April, 2005 08:49

    Asian markets are trading lower following negative cues from Wall Street. Japan's Nikkei average is down 0.87%.

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