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Moneycontrol News Archive : 8 February, 2005

  • Nasscom 2005 kicks off in Mumbai

    8th February, 2005 20:31

    Nasscom 2005, India's biggest information and technology event kicked off on Tuesday, in Mumbai.

  • Auto sector seeks custom duty cuts

    8th February, 2005 20:13

    A uniform duty for all vehicles- that is the primary demand from the auto industry. The industry also wants customs duty on raw materials like cold roll steel and

  • Jet Airways IPO to be between Rs 950-1,125

    8th February, 2005 19:59

    Jet Airways IPO is to be priced between Rs 950-1,125

  • Airbus, VidhyaCom Tech enter into engg pact

    8th February, 2005 19:46

    Airbus says the total amount of work it outsources to India is in excess of $100 million. In keeping with the spirit of things, the European aircraft major ha

  • Shankaracharya asked to appear in court

    8th February, 2005 19:40

    A court in Tamil Nadu issued summons to Kanchi Shankaracharya Jayendra Saraswathi, asking him to appear before it on February 10.

  • Clients want more complex solutions: Lazarus

    8th February, 2005 19:05

    Shelly Lazarus talks about how WPP and Ogilvy & Mather complement each other without trodding on each others toes.

  • Pakistan reluctant to play in Gujarat

    8th February, 2005 18:26

    The Pakistan Cricket Board, PCB, is reluctant to play the test match at Ahmedabad.

  • Techies want wider tax net

    8th February, 2005 17:28

    IT professionals are often perceived to be the most pampered lot today. But, even they have drawn up their wishlist for the budget.

  • Market wants tax rules to be finetuned

    8th February, 2005 17:00

    This budget, has everyone hoping that it will be a rerun of the finance minister previous dream budget. Expectations are running high and the market players have t

  • Better communication can help relationships

    8th February, 2005 16:44

    Intimacy plays an important part in every relationship, where one partner can look at the other with an accepting and supporting love.

  • Haier to set up $5mn mnfg facility in India

    8th February, 2005 16:38

    Haier, the world's second largest home appliance brand, plans to set up a consumer electronics manufacturing unit in India, with an investment of about $5 mill

  • Govt may divest 5% in Canara Bank, others

    8th February, 2005 16:32

    The government is likely to divest upto 5% stake in Canara Bank, Bank of Baroda, Punjab National Bank and Bank of India.

  • Asian markets close mixed

    8th February, 2005 16:30

    The Asian markets closed on a mixed note as the Nikkei index slipped on profit taking after recent gainers.

  • Hold LIC Housing Fin with stoploss of Rs 200

    8th February, 2005 16:13

    Ashwani Gujral is of the view that investors should hold LIC Housing Finance with stoploss of Rs 200-205.

  • Bharti Group drags govt to TDSAT

    8th February, 2005 16:01

    Bharti Group has dragged the government to the TDSAT seeking refund of Rs 135 crore.

  • Essar Oil can touch Rs 42, says Gujral

    8th February, 2005 15:47

    Ashwani Gujral is of the view that Essar Oil can go upto Rs 42 if it crosses Rs 33.50. However, a stoploss of Rs 27.50 is advised.

  • Retailers to meet Kamal Nath to mull FDI

    8th February, 2005 15:37

    The Retailers Association of India is meeting Commerce and Industry Minister Kamal Nath in the capital today to discuss the shape of the new retail FDI Policy.

  • Ayurvedic medicine wants bigger grant

    8th February, 2005 15:28

    Ayurvedic medicine manufacturing has an estimated turnover of over Rs 6,000 crore in 2002. The sector has consistently received grants for about 10 years now, but

  • JK Corporation hits a 52-week high

    8th February, 2005 15:21

    JK Corporation has touched a 52-week high of Rs 55.95. It has touched an intraday high of Rs 55.95 and an intraday low of Rs 47.70.

  • Foreign bank eyes Bank of Punjab stake

    8th February, 2005 15:14

    Bank of Punjab is looking at raising fresh capital and is open to investment by foreign banks.

  • Fertiliser decontrol unlikely in budget: NFL

    8th February, 2005 15:13

    PS Grewal, Chairman and Managing Director of National Fertilizers says that a decontrol of prices is unlikely to come through in the Union Budget.

  • Mediclaim: Why it may not always pay

    8th February, 2005 15:05

    You may think your insured for any medical eventuality but wait till you really need the money. That's when you may discover that money travels in one direction -

  • Non-ferrous metals down, scrap follows suit

    8th February, 2005 14:34

    The impact of Chinese trade slowdown due to New Year beginning was evident in Mumbai non-ferrous metals market yesterday as trade volume remained thin and active t

  • Rel Info service a fraud, reiterates DoT

    8th February, 2005 14:31

    DoT has said that Home Country Direct service, HCDS, of Reliance Infocomm is a clear case of fraud.

  • Successful progress of heap leach process

    8th February, 2005 14:27

    European nickel reported yesterday that, after 16 weeks of operations at its trial project in Turkey, it has successfully leached approximately 25% of the containe

  • High-grade copper futures up on COMEX

    8th February, 2005 14:25

    High-grade copper futures in New York settled higher on Monday despite sharp gains by the US dollar, which often would be bearish for the metal.

  • SMC Gold's copper concentrate shipments up

    8th February, 2005 14:19

    Australia's SMC Gold said today that the copper concentrate shipments from its Punitaqui plant in Chile rose to 1,030 dry metric tons, from 995 tons in December. H

  • Aluminium inventories may fall more

    8th February, 2005 14:16

    Aluminium inventories may continue to fall through 2005, says Macquarie Bank; "The market is likely to feel surprisingly tight, particularly during the strongest d

  • Book part profit in Gujarat Alkalies: Gaba

    8th February, 2005 13:58

    Prakash Gaba is of the view that investors may book part profit in Gujarat Alkalies. They should hold the balance stock with a stoploss of Rs 120.

  • Andhra Cement firms up to new high

    8th February, 2005 13:48

    Andhra Cement has firmed up to a 52-week high of Rs 30.10 on cotinued buying interest.

  • HLL looks good for long term, says Gaba

    8th February, 2005 13:41

    Prakash Gaba feels that HLL looks good in the long term. It would be a good buy if the stock comes down to Rs 155.

  • Ispat Industries may touch Rs 37: Gaba

    8th February, 2005 12:55

    Prakash Gaba feels that Ispat Industries is likely to touch Rs 34 in the short term. The stock may further go upto Rs 37 in a slightly longer term.

  • Tata Coffee spurts on huge volumes

    8th February, 2005 12:50

    Tata Coffee has gained 7.65% at Rs 334.95 by 12:06 pm on the back of a firm trend in coffee prices.

  • Power sector seeks quick action on policy

    8th February, 2005 12:40

    CESC welcomes the power policy, but says that an effective tariff, and coal policy needs to be in place to make optimal use of it.

  • 2nd round of ADC cuts in 3-6 mths: Baijal

    8th February, 2005 12:38

    The second round of ADC cuts are expected in the next 3-6 months, according to the Telecom Regulatory Authority of India, Trai, Chairman, Pradeep Baijal.

  • Centurion Bk sets Rs 300 cr first issue goal

    8th February, 2005 12:00

    The shareholders of Centurion Bank have approved a proposal to raise up to Rs 600 crore, possibly in two tranches. The issue will be an equity issue and will not b

  • Markets drifting in a narrow range

    8th February, 2005 11:48

    The markets are drifting in a narrow range and most shares are trading near their previous close. Stock specific action is seen in the midcap shares.

  • Markets' downside limited: Kashyap Pujara

    8th February, 2005 11:32

    Though the cash markets took a beating yesterday, indicators from the F&O side of trade suggest that there may still be an upside to the market feels analyst Kashy

  • Havells India among major gainers

    8th February, 2005 11:08

    Havells India has touched a 52-week high of Rs 310. At 10:44 am the share is quoting at Rs 302.25, up Rs 18.20, or 6.41%.

  • Ispat Industries touches a 52-week high

    8th February, 2005 10:58

    Ispat Industries has touched a 52 week high of Rs 27.85. At 10:36 am the share is quoting at Rs 27.45, up Rs 1.25, or 4.77%.

  • Chemical SMEs look for duty, R&D help

    8th February, 2005 10:53

    Small and medium units in the chemical manufacturing industry are hoping that the upcoming Budget will grant rationalisation of duty structures and better research

  • Subhash Projects continues to buzz

    8th February, 2005 10:47

    Subhash Projects has shot up 13.60% to Rs 30.90 after the company announced that it has received new orders worth more than Rs 100 crore.

  • Crude declines to 4-wk low of $45.28/bbl

    8th February, 2005 09:55

    Crude oil is lower today at $45.28 per barrel on reports that OPEC may leave output unchanged and there may be warmer weather in the US.

  • Rupee opens weak, but sharp fall unlikely

    8th February, 2005 09:44

    The rupee has opened weaker today, on the back of the dollar's firmness in the overseas market. However, dealers say, the unit is not likely to show a sharp fall.

  • Equity Calls: Malkani, Sukhani, Mehta

    8th February, 2005 09:38

    Markets will bounce back about 20-30 points from here on the Nifty, says Malkani.

  • Govt to review small savings` tax benefits

    8th February, 2005 09:29

    The Centre is understood to be reviewing the entire gamut of tax benefits on small savings schemes.

  • US markets end with modest losses

    8th February, 2005 09:00

    US markets closed with modest losses on worries about the market's ability to hold its gains after last week's rally.

  • Harvard economist targets central banks

    8th February, 2005 20:22

    Harvard economist, Benjamin Friedman debunks inflation targeting saying- Central banks doing inflation targeting actually hide their other goals and impede transpa

  • HCL Tech to develop software for Boeing

    8th February, 2005 20:07

    HCL Tech to design software for Boeing's 787 Dreamliner.

  • Indian salaries grow over 14% in 2004

    8th February, 2005 19:57

    Paycheques got a tad fatter in 2004. Mirroring the year's economic growth, Indian salaries recorded an over 14% increase, says a Hewitt Associates Annual Salary Su

  • Tata Auto Comp in JV with Stadco

    8th February, 2005 19:41

    Tata's are getting more exposure in the European automotive market. A group company, Tata Auto Comp Systems has signed a 50:50 joint venture with UK-based componen

  • Wockhardt net up 50% to Rs 214 crore

    8th February, 2005 19:27

    Pharma major Wockhardt banked on exports to grow its full year net profit by a strong 50% at Rs 214 crore on revenue of Rs 1,239 crore.

  • Ad agencies pull out all stops for Superbowl

    8th February, 2005 18:38

    Superbowl Sunday, the biggest and most watched event on the US sports calendar saw big ad agencies competing with each other for viewers' attention.

  • Kotak Mid-Cap IPO mops up Rs 577 cr

    8th February, 2005 17:34

    Kotak Mid-Cap has mopped up a record Rs 577 crore in its recently concluded IPO, making it the second-largest open-ended equity IPO collection ever.

  • Cut excise on toffees: Confectionary firms

    8th February, 2005 17:12

    The confectionary industry wants excise on toffees with chocolate halved to 8% and sugar imports to be allowed at a cheaper rate. But CNBC-TV18 reports that much o

  • Stoploss of Rs 145 advised in Dhampur Sugar

    8th February, 2005 16:50

    Ashwani Gujral is of the view that Dhampur Sugar could go upto Rs 210 if it crosses Rs 170. However, a stoploss of Rs 145 is advised.

  • F&O segment sees lacklustre trade

    8th February, 2005 16:42

    Today was a lacklustre day for F&O trade, though volumes picked up to about Rs 11,000 crore towards close.

  • Market ends flat amid choppy trade

    8th February, 2005 16:33

    The markets closed on a flat note amid choppy trade. Modest gains were seen in the bank, technology, oil, and power shares but the FMCG and pharma shares were depr

  • Bharati Shipyard target seen at Rs 200

    8th February, 2005 16:32

    Ashwani Gujral is of the view that investors can target Rs 200 in Bharati Shipyard.

  • Rupee slips as dollar hits 3-mth euro high

    8th February, 2005 16:27

    The rupee closed weak, even as the dollar rose to its three-month high against the euro in the overseas currency markets. Bonds closed down on profit booking, afte

  • Advice on BSNL-MTNL merger by March

    8th February, 2005 16:08

    Dayanidhi Maran, Minister of Telecommunications has said that bankers will give their advice on the BSNL-MTNL merger by March.

  • GSFC selloff not seen right now

    8th February, 2005 15:57

    Divestment of GSFC seems to be on the backburner and the company is looking to re-invest its resources instead. The fertiliser industry is also hoping for severe a

  • Bank of Punjab buzzing on the bourses

    8th February, 2005 15:39

    Bank of Punjab has touched an intraday high of Rs 39.65 and an intraday low of Rs 34.60. At 3:13 pm the share is quoting at Rs 39.30, up Rs 3.80, or 10.70%.

  • Stoploss of Rs 60 advised in Finolex Ind

    8th February, 2005 15:31

    Ashwani Gujral is of the view that investors can hold Finolex Industries. However, a stoploss of Rs 60 is advised.

  • Only buyers in Shaw Wallace

    8th February, 2005 15:27

    Shaw Wallace has hit a 10% upper circuit. There are pending buy orders of 125,690 shares, with no sellers available.

  • Dewan Housing Finance on the move

    8th February, 2005 15:16

    Dewan Housing Finance has touched an intraday high of Rs 40.50 and an intraday low of Rs 35.50. At 2:43 pm the share is quoting at Rs 38.80, up Rs 3.75, or 10.70%.

  • Jindal Strips touches a 52-week high

    8th February, 2005 15:14

    Jindal Strips has touched a 52-week high of Rs 342. At 2:46 pm the share is quoting at Rs 309.85, up Rs 24.10, or 8.43%.

  • Exit Dr Reddy's on rallies, says Gujral

    8th February, 2005 15:12

    Ashwani Gujral is of the view that investors should exit Dr Reddy's Labs on rallies.

  • Buy Britannia with stoploss of Rs 880: Gaba

    8th February, 2005 14:51

    Prakash Gaba feels that investors can invest in Britannia Industries with a stoploss of Rs 880.

  • Zensar Tech: Keep stoploss of Rs 175-178

    8th February, 2005 14:34

    Prakash Gaba is of the view that investors should keep a stoploss of Rs 175-178 in the stock.

  • Glencore buys Bolivia's Minera del Sur

    8th February, 2005 14:30

    Glencore International bought Bolivia's Compania Minera del Sur, a producer of tin and zinc, from its owners, the company said in a statement over the weekend.

  • Sun Pharma Board approves M&A proposal

    8th February, 2005 14:27

    Sun Pharmaceuticals Board has approved the proposal for merger/amalgamation of its wholly owned subsidiaries with effect from March 1, 2005.

  • Manila Mining talks of copper-gold mine JV

    8th February, 2005 14:22

    Manila Mining Corp. it is in talks with counterparts overseas for a possible joint venture development of its copper-gold mine in southern Philippines.

  • Hold Nahar Exports with stoploss of Rs 70

    8th February, 2005 14:17

    Prakash Gaba feels that investors can stay invested in Nahar Exports. However, a stoploss of Rs 70 is advised.

  • Copper up on speculator short covering

    8th February, 2005 14:12

    London Metal Exchange copper ended the late kerb higher yesterday on speculator short covering but gains for the dollar had pared the rally for the close.

  • Markets choppy: FMCG shares down

    8th February, 2005 13:58

    The markets have recovered from lower levels following fresh buying interest in the index stocks. Metal, cement, oil, bank, and technology shares have gained but F

  • NOCIL revs up on good volumes

    8th February, 2005 13:44

    NOCIL has shot up 9.13% to Rs 22.70 by 12:30 pm on renewed buying interest.

  • Midcaps will do well for nxt 3-5 yrs: Sheth

    8th February, 2005 13:19

    Rushabh Sheth of Kotak Mutual Fund believes that there is a long term story in midcaps, not just for the next quarter or the next two quarters, but for the next 3-

  • IOC plans to invest Rs 250bn in 5 years

    8th February, 2005 12:54

    IOC plans to invest Rs 250 billion in the next five years to expand its petrochemicals and refining businesses.

  • ABB at a new high, top gainer on Nifty

    8th February, 2005 12:48

    ABB has lunged up to a 52-week high of Rs 1,270 as buying gained momentum on this counter.

  • Second ADC cut in 3-6 months: Baijal

    8th February, 2005 12:38

    The second round of ADC cuts are expected in the next 3-6 months, according to the Telecom Regulatory Authority of India, Trai, Chairman, Pradeep Baijal.

  • Buy Guj NRE Coke with stoploss of Rs 219

    8th February, 2005 12:21

    Prakash Gaba feels that investors can invest in Gujarat NRE Coke with the long term view. However, a stoploss of Rs 219-220 is advised.

  • Impex Ferro Tech moves higher

    8th February, 2005 11:52

    Impex Ferro Tech has vaulted to a new high of Rs 40.40 as buying continued unabated on this newly listed stock counter.

  • Markets may dip to 2025 Nifty on downside

    8th February, 2005 11:41

    Analysts are cautious on the market after yesterday's down move, and say that it may fall to 2025 levels on the Nifty on the downside, if 2044-2039 is breached. Fu

  • ABB target seen at Rs 1250, says Gaba

    8th February, 2005 11:22

    Prakash Gaba feels that investors may target Rs 1,250 in ABB. It looks good on the charts.

  • Only buyers in Punjab Alkalies

    8th February, 2005 10:58

    Punjab Alkalies and Chemicals is frozen at the 10% upper circuit on sustained buying interest.

  • Ceat up on large volumes

    8th February, 2005 10:55

    Ceat has touched a 52-week high of Rs 68.65. At 10:32 am the share is quoting at Rs 67.90, up Rs 4.65, or 7.35%.

  • Bihar Sponge Iron hits a 52-week high

    8th February, 2005 10:51

    Bihar Sponge Iron has touched a 52-week high of Rs 17.92. At 10:28 am the share is quoting at Rs 17.92, up Rs 2.98, or 20%.

  • Market opens on a flat note: Steel firm

    8th February, 2005 10:16

    The markets have opened on a flat note with most shares trading near their previous close. Some weakness is seen in the midcap textile, sugar, cement, and fertilis

  • Buy wheat with a tight stoploss: Saraf

    8th February, 2005 09:45

    Wheat and soy oil are fundamentally weak. However, prices have corrected and are likely to go up. So, one can buy at current levels.

  • Money Calls: Doshi, Venkataraman

    8th February, 2005 09:40

    There are chances of a correction in the bond market at higher levels due to profit booking, says Doshi.

  • National power tariff policy next month

    8th February, 2005 09:31

    A new national power tariff policy aimed at making electricity cheaper to the consumers, will be announced next month, according to Union Power Minister, P M Sayee

  • Asian markets trading higher

    8th February, 2005 09:25

    Asian markets are trading higher. But Tokyo's Nikkei average is marginally up 0.04% at 11,504.33 as profit-taking hit recent gainers.

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