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Moneycontrol News Archive : 18 April, 2005

  • Cognizant Tech acquires Fathom for $19 mn

    18th April, 2005 19:00

    Cognizant Technologies has announced the acquisition of US consulting company Fathom Solutions for $19 million in cash and stock.

  • Mittal to sign Polish takeover by April 29

    18th April, 2005 18:41

    Mittal Steel, the world's largest steel maker, will sign the contract to buy state-owned Polish heavy plate maker Huta Czestochowa by April 29.

  • Stocks to watch: Tisco, REL

    18th April, 2005 17:48

    Technical analyst Rohit Srivastav of SSKI picks power and capital equipment stocks, FMCG and Tisco.

  • No sign of skumars e-commerce venture

    18th April, 2005 17:35

    skumars was a venerable name, until a few years ago, when their dotcom venture left them floundering. Disillusioned franchisees still wait with hope, for some sign

  • Chola MF unveils Chola Global Advantage Fund

    18th April, 2005 17:00

    Chola MF has launched Chola Global Advantage Fund, which will invest in Indian companies, which are expecting at least 20% of turnover from exports.

  • Invest in funds to cap your risk: ING MF

    18th April, 2005 16:53

    Going forward, it is the mid cap sector and some specific stocks which will give us a play in the markets and we hope to capture this in our mid cap portfolio, say

  • Midcaps, metals look good: Kothari

    18th April, 2005 16:41

    Midcaps would benefit from the trend going in to the derivatives segment. Metals are not a sector to be perturbed about either.

  • India Cement firms up today

    18th April, 2005 16:14

    India Cement has firmed up. At 3:39 pm the share is quoting at Rs 68.40, up Rs 2.80, or 4.27%.

  • Gateway Distriparks among major gainers

    18th April, 2005 16:10

    Gateway Distriparks is among the major gainers today. At 3:35 pm the share is quoting at Rs 119.25, up Rs 7.95, or 7.14%.

  • Welspun Gujarat firms up

    18th April, 2005 16:00

    Welspun Gujarat Stahl Roh has moved up on large volumes. At 3:27 pm the share is quoting at Rs 38.20, up Rs 1.90, or 5.23%.

  • HPCL top gainer on the Sensex

    18th April, 2005 15:53

    Hindustan Petroleum Corporation, HPCL, is the top gainer on the Sensex. At 3:12 pm the share is quoting at Rs 331.25, up Rs 9, or 2.79%.

  • Dhampur Sugars Q2 sales up 44%

    18th April, 2005 15:30

    Dhampur Sugars Q2 sales is up 44% at Rs 245.99 crore( Rs 2.45 billion). Its net is at Rs 33.04 crore( Rs 330 million) from Rs 12.06 crore( Rs 120.6 million).

  • Watch out for the trap!

    18th April, 2005 15:26

    ULIPs are the flavor of the season. And why not. ULIPs offer transparency, liquidity and flexibility. But the difficult part is that ULIPs need to be well understo

  • Commodities staged for 2-digit growth: CLSA

    18th April, 2005 15:14

    Demand from China is too high for the commodity markets to fall to panic levels, feels China macro strategist from CLSA.

  • Buy Tata Motors at Rs 390: Kumar

    18th April, 2005 14:57

    Kavee Kumar feels that there is still some correction left in the market and stocks will come down to attractive levels. He suggests buying Tata Motors at Rs 390.

  • NSE to remain open till 4 pm

    18th April, 2005 14:45

    The NSE is to remain open till 4 pm today. It is to shut the F&O segment to correct a technical snag and restart it at 3 pm.

  • VST hits a 52-week high

    18th April, 2005 14:35

    VST has touched a 52-week high of Rs 322.35. At 1:53 pm the share is quoting at Rs 319.80, up Rs 26.75, or 9.13%.

  • ICICI Bank stumbles further

    18th April, 2005 14:24

    ICICI Bank has touched an intraday high of Rs 395 and an intraday low of Rs 385.90. At 2:01 pm the share is quoting at Rs 387.90, down Rs 14.75, or 3.66%.

  • Derivatives Trading - Speculative or not?

    18th April, 2005 14:10

    Budget 2005 proposes to amend the income tax law to provide that derivatives transactions would not be regarded as speculative transactions. This is indeed a welco

  • Geometric Software among major gainers

    18th April, 2005 14:00

    Geometric Software has touched an intraday high of Rs 517.85 and an intraday low of Rs 470. At 1:41 pm the share is quoting at Rs 514, up Rs 29.40, or 6.07%

  • India, Pakistan release joint statement

    18th April, 2005 13:30

    Two countries issue historic statement on political and economic co-operation. Prime Minister Manmohan Singh says the Joint Economic Commission is to be revived.

  • Hexaware net seen up 8.1%: Poll

    18th April, 2005 13:11

    Hexaware is expected to post a 8.1% increase in its net profit for the first quarter from Rs 21.46 crore (Rs 214. 6 million) to Rs 23.2 crore (Rs 232 million) ye

  • Fix week's low as Rel Infra's stoploss:Maloo

    18th April, 2005 12:33

    Hurmoz Maloo, is of the view that Reliance Infrastructure is a volatile stock, so investors should keep previous week's low as a stoploss.

  • Zicom weak below Rs 106: Maloo

    18th April, 2005 12:17

    Hurmoz Maloo, is of the view that Zicom Security Systems has done pretty good in the past, but if it could break Rs 106 then it could show some weakness.

  • Jaiprakash Hydro FY06 net seen at 18%

    18th April, 2005 12:08

    Jaiprakash Gaur expects not less than 18% profit for the financial year FY06 and around Rs 450 crore growth in revenue.

  • Videocon looking at overseas exploration

    18th April, 2005 11:55

    Videocon will spend Rs 800 crore on overseas exploration and production activities.

  • Promoting bartending as a fine art

    18th April, 2005 11:50

    Sandeep Verma is giving people a taste of the good life and is prepared to teach how to make it happen for themselves.

  • Sebi asks SEs for data on market crash

    18th April, 2005 11:44

    The Securities and Exchange Board of India, Sebi has asked the stock exchanges for trading data on Friday's crash.

  • Technical bounce back looks difficult: Jain

    18th April, 2005 11:28

    According to Rajesh Jain of Pranav Securities, if the markets do not pick up today, then they will drift down to sub-6000 levels. A technical bounce back also look

  • Bharti Tele witnessing selling pressure

    18th April, 2005 11:25

    Bharti Tele has touched an intraday high of Rs 203 and an intraday low of Rs 192.45. At 11:01 am the share is quoting at Rs 193.75, down Rs 9.95, or 4.88%.

  • Trading suspension trips Essar Steel

    18th April, 2005 11:14

    The news of suspending Essar Steel from trading with effect from April 22, has pulled down the stock. There were pending sell orders of 622,261 shares, with no buy

  • Corporation Bank Q4 net seen down 4%

    18th April, 2005 10:58

    Corporation Bank is expected to post a 3.9% fall in Q4 net profit at Rs 114.83 crore, while net interest income is expected to rise by 12%.

  • Indiabulls net profit up 29.8%

    18th April, 2005 10:51

    Indiabulls Q4 net profit is up 29.8% at Rs 23.90 crore (Rs 239 million) from Rs 18.41 crore (Rs 184.1 million).

  • Alstom touches a 52-week high

    18th April, 2005 10:43

    Alstom has touched a 52-week high of Rs 173.90. At 10:12 am the share is quoting at Rs 169.45, up Rs 16.35, or 10.68%.

  • No illusions about this work: Tagore

    18th April, 2005 10:13

    Sharmila Tagore, CBFC's Chairperson says that the board has to look after the marginalised, or the vulnerable, or the very young and if a film is from a commercial

  • NSE adds 70 scrips to F&O segment

    18th April, 2005 09:54

    NSE has introduced 70 scrips to the futures and options contracts including ABB, Bharti Televentures, Siemens, GE Shipping and Tata Chemicals.

  • Stocks in news: Jaiprakash Hydro, ABB

    18th April, 2005 09:35

    Stocks in news: Jaiprakash Hydro, Essar Steel, McDowell, ABB, Allahabad Bank, Ashok Leyland, Bharti, Bharat Forge, Century Textiles, Matrix, Patni, Vijaya Bank, Vi

  • Crude oil falls for the fourth day

    18th April, 2005 09:31

    According to Bloomberg, crude oil futures fell for the fourth day amid concerns that slowing global economic growth may stem rising demand for oil and gasoline.

  • General Pervez Musharraf visits India

    18th April, 2005 09:24

    The Khokrapar- Munnabao rail link from Rajasthan to Sindh by December, release of 292 Pak nationals from Indian jails, revival of joint commission to enhance trade

  • VAT resolution by month-end

    18th April, 2005 09:17

    The empowered committee on VAT said that the issue will be resolved finally when they meet by the 25th and 26th of the month.

  • Market cues: FIIs net buy $40.40 mn on Wed

    18th April, 2005 09:12

    FIIs net buy $40.40 million on Wednesday and MFs net buy Rs 49.92 crore (Rs 499 million) on Wednesday.

  • Gold looks bearish; likely to drift

    18th April, 2005 09:02

    Gold looks bearish and is likely to drift to $420-422/oz levels. MCX Gold May futures are also expected to weaken upto Rs 6125 levels, says Gnanasekhar.

  • Taco close to acquiring European company

    18th April, 2005 18:52

    Tata AutoComp Systems, Taco, is close to acquiring a company in Europe, which would be its first acquisition oustide India.

  • CMC posts net loss Rs 16.72 crore in Q4

    18th April, 2005 17:52

    CMC has posted a net loss in Q4FY05 of Rs 16.72 crore, against a profit of Rs 9.63 crore last quarter. Meanwhile, Q4 revenues are flat at Rs 215 crore QoQ.

  • Markets still in bullish phase: Malkani

    18th April, 2005 17:39

    According to Jagdish Malkani, member of the NSE, the bull markets have not gone. He also said that the downtrend of the global markets would keep Indian markets vo

  • Surana picks ONGC, Nalco in choppy F&O

    18th April, 2005 17:17

    The markets were volatile, and turnover was relatively low. Ajit Surana of Dimensional Securities advises investors to look at Nalco, ONGC, IPCL, Ashok Leyland, an

  • Markets crash: Metal & banks hammered

    18th April, 2005 17:00

    The markets witnessed a sharp fall following the weakness in most of the metal, bank, pharma, and technology stocks. However, select oil, media, and telecom stocks

  • JVSL sees 30% volume growth: Madhok

    18th April, 2005 16:43

    According to Raman Madhok, Joint MD and CEO, JVSL's debt has been reduced by around Rs 1,079 crore; and its current burden is at Rs 3,714 crore. JVSL sees 30% volu

  • Buy Jaiprakash Hydro 15-20% lower: Kumar

    18th April, 2005 16:31

    Ashok Kumar of Lotus Knowlwealth, is of the view that though Jaiprakash Hydro is showing signs of good results, he would prefer to get out of the stock now and buy

  • Teledata Informatics optimistic about future

    18th April, 2005 16:10

    Teledata Informatics is optimistic about sustaining growth figures. Its next quarter target is about Rs 1000 crores.

  • Buy small bits in bluechips: Kumar

    18th April, 2005 16:01

    Kavee Kumar of Indiabulls feels that the correction in midcap space is likely to last a little long. However, he advises buying small bits in bluechips.

  • Allahabad Bank among major losers

    18th April, 2005 15:58

    Allahabad Bank is among the major losers. At 3:23 pm the share is quoting at Rs 83.60, down Rs 3.75, or 4.29%.

  • When the recovery agent comes looming

    18th April, 2005 15:36

    What options do you have when the phone rings and a collection agent demands your credit card dues? Not many, really!

  • Buy ONGC before market picks up:Chakraborty

    18th April, 2005 15:28

    Amitabh Chakraborty is of the view that ONGC is one of the stocks to look at while market is getting corrected.

  • SBI good at Rs 610-615: Kumar

    18th April, 2005 15:17

    Kavee Kumar is of the view that it is a nice opportunity to buy State Bank of India before market becomes bullish again.

  • Market recovers from lower levels: Oil firm

    18th April, 2005 15:09

    The market has recovered from lower levels and is to remain open till 4 pm today. Selective buying is seen in oil, media, and telecom stocks. Metal, bank, & pharma

  • India equities meltdown unlikely: Goyal

    18th April, 2005 14:49

    Ashish Goyal of Prudential Corporation says that Indian markets will see a 5-10% downside, commensurate with the correction in regional Asian markets, but a full m

  • SAIL down on high volumes

    18th April, 2005 14:42

    SAIL has touched an intraday high of Rs 58.50 and an intraday low of Rs 54.40. At 2:13 pm it is trading with volumes of 70,55,879 shares, compared to its 5-day ave

  • Hindustan Oil Exploration slips down

    18th April, 2005 14:34

    Hindustan Oil Exploration has touched an intraday high of Rs 135.75 and an intraday low of Rs 123.75. At 2:05 pm the share is quoting at Rs 126.70, down Rs 9.55, o

  • Jaiprakash FY06 net seen at 18%: Gaur

    18th April, 2005 14:21

    Jaiprakash Gaur expects not less than 18% profit for the financial year FY06 and around Rs 450 crore growth in revenue.

  • Markets in a medium-term bear market: Bose

    18th April, 2005 14:02

    According to technical analyst, Rajat Bose, markets have entered a medium-term bear market because nearly 30% of the stocks are below their 200-day exponential mov

  • Textiles to see significant gains: IL&FS

    18th April, 2005 13:41

    Textile, technology and construction sectors would take the mantle of the next rally when the markets stabilise and get into it, finally.

  • Indo-Pak Petroleum Ministers meet in May

    18th April, 2005 13:20

    The Petroleum and Natural Gas Ministers of India and Pakistan will meet in May to explore the cooperation in the sector.

  • Support for Infosys at Rs 1878-1904: Bose

    18th April, 2005 13:01

    Rajat Bose, feels that Infosys has got a very strong support at Rs 1878-1904.

  • Gati announces results, stock up

    18th April, 2005 12:19

    Gati Corporation has moved up after the announcement of its Q3 results. It has touched a 52-week high of Rs 174.50.

  • Markets down: Metal stocks hammered

    18th April, 2005 12:08

    The markets are trading lower following selling pressure in the index heavyweights. The steel and bank shares are among the major loser.

  • Satyam Q4 net seen up 13.48% at Rs 175cr

    18th April, 2005 12:05

    Satyam is expected to post a 13.48% increase in Q4 net profit at Rs 198.3 crore, while revenue is expected to rise by 5.8% at Rs 942.7 crore.

  • Jubilant Q4 net profits up 37.8%

    18th April, 2005 11:54

    Jubilant Organosys Q4 FY05 YoY net profits are up 37.8% from Rs 24.90 crore to Rs 34.30 crore. Overall, in FY05, Jubilant Organosys net profits are up 52.4% from R

  • Book profit in Maruti: Maloo

    18th April, 2005 11:46

    Hurmuz Maloo is of the view that investors should act as the sensitive index moves and accordingly move out from Maruti by booking profits.

  • Derivatives market looks gloomy: Panda

    18th April, 2005 11:39

    Analyst feels that outlook on the derivatives side of the market is distinctly bearish for the short term.

  • Shopping for the right insurance?

    18th April, 2005 11:28

    'Don't use insurance as a tax saving tool'. 'Don't mix insurance and investment'. If you have been confused by these statements everytime you asked for an opinion

  • UTI Bank Q4 net seen up 21% at Rs 105cr

    18th April, 2005 11:25

    UTI Bank is expected to post a 20.75% increase in Q4 net profit at Rs 105.16 crore, while net interest income is expected to rise by 25.84% at Rs 206.55 crore.

  • F&O Strategy on Nifty, Ranbaxy

    18th April, 2005 11:10

    F&O Strategy on Nifty by KR Choksey and Ranbaxy by IL&FS Investsmart.

  • Cipla continues down run

    18th April, 2005 10:55

    Cipla has touched an intraday high of Rs 236 and an intraday low of Rs 226. At 10:35 am the share is quoting at Rs 228.60, down Rs 5.80, or 2.47%.

  • Jaiprakash Hydro lists at Rs 32 on NSE

    18th April, 2005 10:45

    Jaiprakash Hydro lists at Rs 36.80 on BSE and Rs 32 on NSE. The share was issued at Rs 32.

  • Markets crash: Sensex down over 100 points

    18th April, 2005 10:32

    The markets have crashed following selling across the board. Most of the steel, technology, cement, FMCG, and bank stocks are hammered down.

  • JVSL Q4 net profit seen at Rs 371.25 cr

    18th April, 2005 10:11

    According to CNBC-TV18 estimates JVSL is expected to post a Q4 net profit of Rs 371.25 crore and net sales at Rs 1953.5 crore.

  • Catholic cardinals begin search for a Pope

    18th April, 2005 09:43

    Roman Catholic cardinals will begin their search for the next Pope today.

  • Government considers revival of CAS

    18th April, 2005 09:32

    The government is considering a revival of the controversial CAS or Conditional Access System in Delhi, Mumbai and Kolkata.

  • Hurriyat supports Indo-Pak CBMs

    18th April, 2005 09:28

    The Pakistan president Parvez Musharraf has assured Hurriyat leaders of involving them in the peace process. The All-party Hurriyat Conference has expressed its su

  • F&O cues: Nifty Futures discount widens

    18th April, 2005 09:19

    NSE F&O cues: Huge volatility witnessed in the F&O segment, volumes improve. Nifty Futures discount widens to 19.10 points.

  • Asian markets in the red, Nikkei plunges 3%

    18th April, 2005 09:13

    Asian markets are trading lower on concerns about the US economy. The Nikkei has plunged 3.25%.

  • Equity calls: Mohindar, Malkani, Iyengar

    18th April, 2005 09:10

    6200-6230 is a strong support level for the Sensex. I am expecting a bounceback of 100-150 points for the Sensex from current levels, says Mohindar.

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