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Moneycontrol News Archive : 19 April, 2005

  • Maharashtra extends lower stamp duty rates

    19th April, 2005 20:44

    The Maharshtra state government has extended the 0.002% stamp duty on non-delivery trades, which was to have lapsed by March 31.

  • Parikh to come under stock market scanner

    19th April, 2005 19:25

    The Department of Company Affairs is finally set to investigate stock broker Ketan Parikh in the 2001 stock market scam, after the Bombay High Court's stay was vac

  • UB Engg bags contracts worth Rs 60.35 crore

    19th April, 2005 19:16

    Pune-based UB Engineering has bagged contracts worth Rs 60.35 crore in the power and steel sectors, from majors like BHEL, Essar Construction, and Jindal Steel and

  • Biocon Q4FY05 net expected up 22.86%

    19th April, 2005 19:00

    A CNBC-TV18 poll sees Biocon's Q4FY05 net profit to up 22.86% from Rs 43.3 crore to Rs 53.2 crore, and revenues to climb 30.79% from Rs 144.5 crore to Rs 189 crore

  • TCS scrip to weaken for a few days: Karvy

    19th April, 2005 17:00

    R Ravi of Karvy stock broking says that he was expecting some increase in salary and wage bill, but Rs 102 crore increase along with some product development expen

  • Correction not much of a worry: Agarwal

    19th April, 2005 16:41

    One should stay invested in fundamentally strong stocks, even if the market drops 200 to 300 points, feels Alok Agarwal. Asian Hotels and EIH Associates in hospita

  • Mid-day to focus on its core business

    19th April, 2005 16:30

    Mid-Day Multimedia plans to shut down its Rs 17 crore outdoor business and put more investments into its core business.

  • TCS under stress from rupee fluctuations

    19th April, 2005 16:23

    TCS says, its margins will improve in the coming quarters, but exchange rate fluctuations will continue to pose a challenge. There was a forex loss of Rs 10 crore

  • KEC Intl restructuring to 'double' equity

    19th April, 2005 15:42

    KEC International is in the process of a restructuring campaign, to divide operations between KEC Holdings and KEC Infrastructure. Shareholders will hold an equal

  • TCS reports disappointing Q4

    19th April, 2005 15:23

    TCS has reported profits down 33.6% at Rs 471 crore (Rs 4.71 billion) quarter on quarter.

  • Price band mechanism may be resorted: Aiyar

    19th April, 2005 15:04

    Government is likely to give state-run oil firms freedom to adjust auto fuel prices within a narrow price band once international prices stabilise.

  • Alstom slips from higher levels

    19th April, 2005 15:00

    Alstom has touched an intraday high of Rs 170 and an intraday low of Rs 138.40. At 2:39 pm the share is quoting at Rs 139, down Rs 22.70, or 14.04%.

  • Expect selloff in Dhampur Sugar: Mehta

    19th April, 2005 14:47

    Nipun Mehta, is of the view that Dhampur Sugar had done well last year. But if market continues to be bearish, it could see a selloff.

  • Equity, liquid funds lure investors in FY05

    19th April, 2005 14:42

    Equity and liquid funds enticed investors in FY05, while income and gilt schemes were dumped as against last fiscalís trend.

  • Hexaware announces results, stock down

    19th April, 2005 14:32

    Hexaware Technologies has touched an intraday high of Rs 727 and an intraday low of Rs 690. At 1:51 pm the share is quoting at Rs 702.40, down Rs 13.55, or 1.89%.

  • F&O side sees low volumes, huge discount

    19th April, 2005 13:57

    There have been low volumes so far on the F&O side, with a turnover of only around Rs 4000 crore on the NSE. The Nifty futures discount has widened to about 22 poi

  • Sensex likely to test 6000 levels: CLSA

    19th April, 2005 13:47

    Christopher Woods of CLSA says that investors with an investment horizon beyond three months should be looking at the present correction as a major buying opportu

  • GE Shipping contracts to sell VLCC

    19th April, 2005 13:32

    Great Eastern Shipping has signed a contract to sell its VLCC "Vasant J Sheth". The 1990 built, 261167 dwt VLCC was acquired in November 2003. The ship is schedule

  • Nestle a long term investment:Bhambwani

    19th April, 2005 13:29

    Vijay Bhambwani, believes that if investors hold Nestle for at least 3-4 years they can get an appreciation of 30-40% from the currecnt rates of Rs 66.

  • Keep a stoploss of Rs 1080 in Grasim:Expert

    19th April, 2005 13:14

    Vijay Bhambwani is of the view that short term investors should keep a stoploss of Rs 1080 in Grasim. If it breaks this level then it can dip down further.

  • Stay invested in Tata Sponge:Bhambwani

    19th April, 2005 13:05

    Vijay Bhambwani is of the view that Tata Sponge is performing at its best with lifetime high rate. Investment for more than a year and half can give good profits o

  • Adlabs approves $6mn issue to BSMA

    19th April, 2005 12:40

    Adlabs Films has approved a preferential issue of $6 million to BSMA at Rs 150 per share. The company is planning to raise Rs 40-50 crore which will be investe

  • Castrol Q1 net up 19.25%

    19th April, 2005 12:17

    Castrol has posted a 19.25% increase in its net for the first quarter at Rs 31.96 crore (Rs 319.6 million) from Rs 26.80 crore (Rs 268 million) quarter-on-quarter.

  • Vijaya Bank Q4 net seen down 33%: Poll

    19th April, 2005 12:10

    Vijaya Bank is expected to post a 32.8% fall in Q4 net profit at Rs 83.60 crore, while net interest income is expected to rise by 4.89% at Rs 256.10 crore.

  • Govt mulls privatising 10 more airports

    19th April, 2005 11:56

    Ten more airports are being evaluated for privatisation and a decision to this effect is expected to be on April 30.

  • Derivatives weak, experts suggest spreads

    19th April, 2005 11:55

    Nifty data suggests a bleak time ahead with a chance that some relief might be hovering around 1900, given the bargain buying on select counters. Experts suggest n

  • Adlabs up on large volumes

    19th April, 2005 11:32

    The news of Adlabs Films raising capital and funding multiplexes has created an increased demand of its stock. It is trading with volumes of 1,55,981 shares, compa

  • Expected bounce-back in 3-4 quarters: CMC

    19th April, 2005 11:23

    According to R Ramanan, MD and CEO of CMC, the loss is due to provision made for two of their suspended international clients. He further said that they expect thi

  • Jaiprakash Hydro inches forward

    19th April, 2005 11:02

    Jaiprakash Hydro has inched up today after listing yesterday on the BSE and the NSE. The share was issued at Rs 32 per share.

  • CMC reports loss, stock falls

    19th April, 2005 10:43

    The CMC Q4 results have not been encouraging enough for the market. At 10:17 am the share is quoting at Rs 546.25, down Rs 61.85, or 10.17%.

  • Crude oil prices not to cool off further

    19th April, 2005 10:36

    Analysts don't expect crude oil prices to cool off much more ahead of the peak summer demand season.

  • Stocks bounce back: Sensex up 100 points

    19th April, 2005 10:32

    The markets have opened with a positive gap following strong buying interest almost across the board. Most of the steel, technology, bank, cement, and auto stocks

  • Hexaware Q1 net up 8.25% at Rs 23 cr

    19th April, 2005 10:21

    Hexaware has posted 8.25% increase in its Q1 net profit at Rs 23.23 crore QoQ, revenue has risen by 4.45% at Rs 164 crore.

  • Stocks in news: Adlabs, CMC, TCS, Hexaware

    19th April, 2005 09:33

    Stocks in news: Adlabs, CMC, TCS, Hexaware, HCL Infosystems, Castrol, Essel Propack, Nestle, Gruh Finance, Patel Engineering, Lloyds Finance, SMZS Chemicals, Welsp

  • Rupee may weaken against the US dollar

    19th April, 2005 09:30

    The rupee may weaken against the US dollar because of renewed demand for greenbacks from the corporate sector.

  • F&O Strategy on Nifty

    19th April, 2005 09:15

    F&O Strategy on Nifty by KR Choksey.

  • Money calls: Mody, Thanawala

    19th April, 2005 08:47

    Money calls: The easing of global oil prices and drop in US yields may bring some comfort to the bond market, says Mody.

  • Equity calls: Devanathan, Baliga, Singal

    19th April, 2005 08:42

    Any bounce in the market will be met with selling. The Sensex has room to go down to 6000 or 5800, which are the first support levels in this downtrend, says Devan

  • WB govt to divest Haldia Petrochem stake

    19th April, 2005 19:31

    The West Bengal government is set to sell its stake in Haldia Petrochemicals, and while IOC is set to buy 7.5%, it cannot buy more directly from the government.

  • Standard Chartered to expand in India

    19th April, 2005 19:20

    Standard Chartered is interested in expanding in India, but may opt to go it alone rather than through acquisitions. The bank recently bought Korea First Bank for

  • TV18 Group launches general news venture

    19th April, 2005 19:10

    Television Eighteen India has formed a new venture called Broadcast News, in collaboration with the TV18 Group, to launch a television channel in the general news

  • F&O volumes inch up, but discount widens

    19th April, 2005 17:00

    Volumes improved on the F&O side today, though the discount on Nifty futures still remains large, at 22.85 points. The TCS results were below expectations, and cau

  • Bonds firm, rupee ends weak

    19th April, 2005 16:58

    Bonds firmed up while the rupee ended weak.

  • Market trend reflects international markets

    19th April, 2005 16:35

    According to R Sreesankar of IL&FS Investmart, the current market trend is the reflection of whats happening in the international market.

  • Markets decline: Technology stocks hammered

    19th April, 2005 16:24

    The markets witnessed a sharp fall following a big selloff in the technology stocks led by TCS. Several auto and metal stocks also lost ground.

  • Jaiprakash Hydro will witness selling

    19th April, 2005 15:49

    Nipun Mehta, is of the view that Jaiprakash Hydro is an oversubscribed stock. Borrowers and retail investors would make certain that the stock falls down under pre

  • TCS net down, stock hammered

    19th April, 2005 15:42

    TCS fell down considerably after its Q4 results were announced today. At 3:10 pm the share is quoting at Rs 1,221 down Rs 97.65, or 7.41%.

  • Teledata down on selling pressure

    19th April, 2005 15:05

    Teledata Info has touched an intraday high of Rs 59.75 and an intraday low of Rs 54.10. At 2:45 pm the share is quoting at Rs 54.30, down Rs 4, or 6.86%.

  • HCL Info Q4 net up at Rs 65.4cr

    19th April, 2005 15:00

    HCL Infosystems Q4 net profit is at Rs 65.40 crore, against Rs 55.47 crore. The company's consolidated sales are at Rs 2005 crore.

  • Markets off day's high; Auto, metal weak

    19th April, 2005 14:54

    The markets have come down from higher levels amid some selling pressure in auto, technology, bank, oil, pharma, and metal stocks.

  • FIIs net sell Rs 389 cr in F&O on Monday

    19th April, 2005 14:46

    FIIs net sell worth Rs 389 crore in F&O on Monday. They net sell worth Rs 434 crore in index futures.

  • Stay away from Aftek, says Bhambwani

    19th April, 2005 14:41

    Vijay Bhambwani feels that Aftek is a volatile stock and suggests investors to give more importance to frontline stocks in the technology sector.

  • Patel Engineering Q4 net up 63.8%

    19th April, 2005 13:58

    Patel Engineering Q4 FY05 YoY net profits are up 63.8% from Rs 6.46 crore (Rs 64.6 million) to Rs 10.58 crore (Rs 105.8 million).

  • Hexaware steady on Q1 guidance

    19th April, 2005 13:51

    Hexaware says, there will be no fall in IT spending, despite disappointing noises made by IBM. The company is in line with the guidance for the coming quarter.

  • VSNL among major gainers

    19th April, 2005 13:42

    VSNL has touched an intraday high of Rs 202 and an intraday low of Rs 190.50. At 13:07 pm the share is quoting at Rs 198.55, up Rs 11.30, or 6.03%.

  • Coffee futures debut on NCDX

    19th April, 2005 13:30

    Coffee futures were launched on the National Commodity and Derivatives Exchange today,

  • Apollo Hospital to raise $135mn via GDR

    19th April, 2005 13:16

    Apollo Hospitals board has approved a $135 million GDR issue. Sunita Reddy of Apollo Hospitals says that the money is being raised for consolidating the compan

  • Infosys bags Finacle order from Aspis Bank

    19th April, 2005 13:10

    Infosys has bagged an order for Finacle from Greece-based Aspis Bank.

  • Stay invested in Jain Irrigation:Bhambwani

    19th April, 2005 12:42

    Vijay Bhambwani is of the view that investors should remain invested in Jain Irrigation. It can give good returns in a year.

  • Hold Navneet Publications at Rs 230:Expert

    19th April, 2005 12:28

    Vijay Bhambwani is of the opinion that investors should hold on to Navneet Publications at Rs 230. It will be a profitable investment.

  • Buy Infosys in parts, says Bhambwani

    19th April, 2005 12:14

    Vijay Bhambwani is of the view that investors can invest in Infosys Technologies in parts with a view of 9-12 months.

  • Technical bounce is overdue: Kapoor

    19th April, 2005 12:04

    According to Vibhav Kapoor of IL&FS, technical bounce is very much overdue in this market.

  • Cues: Emerging equity funds see net inflows

    19th April, 2005 11:56

    Emerging market equity funds see net inflows of $108 million after four weeksand and Wall Street ends mixed, financial shares help indices recover.

  • Ispat Industries firms up

    19th April, 2005 11:42

    Ispat Industries has touched an intraday high of Rs 26.15 and an intraday low of Rs 25.55. At 11:21 am the share is quoting at Rs 26.05, up 3.17%.

  • Markets firm amid broadbased buying

    19th April, 2005 11:24

    The markets are trading firm amid broadbased buying. Gains are seen in technology, pharma, metal, oil, auto, cement, bank, FMCG, media and telecom stocks.

  • Infosys bounces back today

    19th April, 2005 11:15

    Infosys has bounced back today. At 10:51 am the share is quoting at Rs 1,965.10, up Rs 53.15, or 2.78%.

  • Trading suspension pulls Essar Steel down

    19th April, 2005 10:50

    The news of suspending Essar Steel from trading has pulled down the stock.

  • BEML hits a 52-week high

    19th April, 2005 10:37

    BEML has touched a 52-week high of Rs 547.50. It is trading with volumes of 1,45,783 shares.

  • Damodaran optimistic on firms listing in US

    19th April, 2005 10:34

    Damodaran believes that companies that have come to US are excellent companies, they have done very well and we will see this phenomenon increasing as companies in

  • Indiabulls among major gainers

    19th April, 2005 10:22

    Indiabulls has surged up 4.69% at Rs 112.75. It is trading with volumes of 24,506 shares.

  • Brokers bullish on BHEL, Tisco, BPCL

    19th April, 2005 09:34

    Brokerage houses are bullish on BHEL, Ashok Leyland, Bharat Forge, Hyderabad Industries, Indraprastha Gas, Tisco, BPCL, and Surya Pharma.

  • Nestle net seen up 27.25%: Poll

    19th April, 2005 09:30

    Nestle is expected to post an increase of 27.25% on its net profits for the first quarter from Rs 64.4 crore (Rs 644 million) to Rs 81.92 crore (Rs 819.2 million)

  • F&O cues: Nifty Put-Call ratio falls further

    19th April, 2005 09:17

    NSE F&O cues: Markets continue to be volatile and Nifty futures discounts at 15.80 points. The Nifty Put-Call ratio falls further, as Calls see Open Interest build

  • Asian markets trading higher, Nikkei up

    19th April, 2005 09:02

    Asian markets are trading higher. The Nikkei average is up 0.72% as a rebound in US tech stocks encouraged buyers to scoop up local peers.

  • Stocks end mixed on Wall Street

    19th April, 2005 08:47

    Wall Street closed mixed as investors coming off last week's selloff fretted over an uncertain economy and digested strong first-quarter earnings and a pair of mer

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