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Moneycontrol News Archive : 9 February, 2005

  • Senior citizens expect affordable healthcare

    9th February, 2005 20:22

    Senior citizens expect affordable healthcare, lower prices of essential items and travel concessions.

  • OBC gets Rs 1bn from GTB bad loans so far

    9th February, 2005 20:01

    Oriental Bank of Commerce has tackled over half the bad loans of Global Trust Bank, GTB, through outright recoveries, upgrading, re-structuring, or launch of crimi

  • Boeing to sell ten 737-800 to Royal Aircraft

    9th February, 2005 19:45

    Boeing Co will sell 10 737-800 planes to Royal Airways for $630 million for Indian Airline's new discount carrier, SpiceJet, and saw more such deals ahead.

  • Disowning affidavit is perjury: Bhusan

    9th February, 2005 19:25

    The legal battle over Priyamvada Birla’s estate took a new turn, as Shanti Bhusan, appearing for RS Lodha, launched an offensive on the witnesses to the 1999 will

  • HP's power girl Carly Fiorina resigns

    9th February, 2005 18:55

    Hewlett-Packard Chief Executive Officer Carly Fiorina resigned on Wednesday saying that board and she had differences on how to execute HP's plans.

  • Analysts expect 4 bank mergers this year

    9th February, 2005 17:39

    The banking sector may be in for some consolidation soon and we may see fewer, but larger players.

  • FMCGs remain wary over VAT implementation

    9th February, 2005 17:17

    Things are looking up for the Rs 48,000 crore FMCG sector. All key companies have been clocking double-digit sales in the last two quarters. The key concern before

  • TCS, Canara Bank, HPCL, ONGC, Essar Oil...

    9th February, 2005 16:58

    Technical Analyst VK Sharma is 'gung-ho' on oil stocks. He also likes TCS, ICICI, Ceat, JK Tyres and Canara Bank as a last minute resort.

  • Turnover dips in F&O trade

    9th February, 2005 16:39

    Turnover dipped in F&O trade today. The NSE F&O segment logged lower than average volumes of Rs 10201.28 cr.

  • Buy ABB after correction, says Mohoni

    9th February, 2005 16:30

    Deepak Mohoni feels that ABB is likely to correct very soon and investors should buy the stock after that.

  • Mincor reports strong nickel production

    9th February, 2005 16:14

    Nickel producer Mincor Resources NL continues to reap the benefits of its recent operational restructuring, with production in January from its Kambalda mines agai

  • African Copper moving towards production

    9th February, 2005 16:12

    Following a successful AIM listing last November, Botswana explorer African Copper is set to take another step towards production in a couple of weeks.

  • Stay away from Tata Power, buy NTPC: Mehta

    9th February, 2005 16:08

    Dipan Mehta is of the view that investors can look at NTPC in the power sector. They should avoid Tata Power Company at present.

  • India to buy three Embraer aircraft

    9th February, 2005 16:05

    India has signed an agreement with Brazilian aircraft maker Embraer to buy three EMB 145 aircraft for its indigenous airborne early warning and control system, AEW

  • i-flex bags first US order from Citibank

    9th February, 2005 16:01

    i-flex has bagged an order from Citigroup Global Markets for its Flexcube Software. The company says that the deal will serve as a benchmark for their product in t

  • UTV public issue priced at Rs 115-130

    9th February, 2005 15:50

    UTV Software Communications, UTV, an integrated media and entertainment company, has fixed the price band at Rs 115 - Rs 130 for its public issue of 6,999,950 equi

  • Dabur India target seen at Rs 120: Gaba

    9th February, 2005 15:38

    Prakash Gaba feels that Dabur India can go upto Rs 120 if it crosses Rs 108. However, a stoploss of Rs 100 is advised.

  • Book part profit in Asahi India, says Gaba

    9th February, 2005 15:17

    Prakash Gaba feels that investors can book part profit in Asahi India at current levels. They should exit from the stock if it breaks the support level of Rs 150.

  • FIIs may pump in $8bn in IPOs: Holland

    9th February, 2005 15:07

    Andrew Holland of DSP Merill Lynch says that FII's are cautious in the short term and are being very selective. However, Holland expects FII inflows to the tune of

  • ETC relists on NSE post-merger

    9th February, 2005 14:58

    The music-oriented TV channel merged with Econnect India Limited, which, besides considerable tax breaks, gives ETC the handle to go into South India in a big way.

  • Up tax exemption limit : Insurance cos

    9th February, 2005 14:57

    The Life Insurance Council has sent a formal request to the Finance Ministry to increase the tax exemption amount limit of Rs 10,000 to Rs 50,000 in this year's bu

  • Essar Oil flares up

    9th February, 2005 14:50

    Essar Oil is trading up Rs 6.90 at Rs 41.55. The stock is locked at 20% upper limit of the circuit.

  • Only buyers in Tata Sponge, stock up 20%

    9th February, 2005 14:35

    Tata Sponge is locked at 20% upper limit of the circuit. The stock is up Rs 35 at Rs 210.20 with volumes of over 3.92 lakh shares.

  • Maruti top gainer on the Sensex

    9th February, 2005 14:29

    Maruti Udyog is the top gainer on the Sensex. At 2:03 pm the share is quoting at Rs 487.55, up Rs 20.50, or 4.39%.

  • Govt must lead in bank reforms: Analysts

    9th February, 2005 14:22

    While the banking sector is abuzz with the possibility of mergers, public issues and disinvestment, analysts say that government and RBI guidelines are sorely requ

  • Biotech Policy expected in March

    9th February, 2005 14:14

    India's Biotech secretary has said that the Biotech Policy is expected sometime in March.

  • Stoploss of Rs 112 advised in Visualsoft

    9th February, 2005 14:01

    Ashwani Gujral is of the view that investors should avoid Visualsoft. Existing investors should hold the stock with a stoploss of Rs 112.

  • Commodity trade seen at Rs 5 trillion: FMC

    9th February, 2005 13:25

    Commodity trades during 2004-05 is seen at Rs 5 trillion, according to the Forward Market Commission.

  • Exit Bank of Mah; buy HDFC, ICICI: Gujral

    9th February, 2005 12:47

    Ashwani Gujral feels that investors should exit Bank of Maharashtra and invest in HDFC Bank or ICICI Bank.

  • Markets up on broadbased buying

    9th February, 2005 12:29

    The markets have moved up on the back of the gains in the bank, power, auto, and oil stocks. Several midcap consumer durable, tyre, sugar, and auto ancillary share

  • TCS gets Rs 314 cr order from Ministry

    9th February, 2005 12:25

    TCS gets an order of Rs 314 cr in an Rs 341 cr e-Governance project lauched by the Ministry of Company Affairs.

  • Cabinet ok's Iran-Pak-India gas pipeline

    9th February, 2005 12:19

    The Cabinet has given the green signal to the Iran-Pak-India gas pipeline and the Petroleum Ministry has been made the nodal agency for the project.

  • Reliance MF bullish on power for long term

    9th February, 2005 12:14

    Sunil Singhania, Fund Manager (Equity) at the Reliance Mutual Fund, says that the focus on infrastructure makes the power sector attractive as a long-term play.

  • Petronet to raise Rs 1,000cr through bonds

    9th February, 2005 12:00

    Petronet is planning to raise Rs 1,000 crore through bonds next year.

  • FDI policy on retail in 2 mths: Kamal Nath

    9th February, 2005 11:54

    Minister of Commerce and Industries, Kamal Nath has said that the FDI Policy on the retail sector will be out in the next two months.

  • Exit Visualsoft, buy ICSA India: Irani

    9th February, 2005 11:37

    Mehraboon Irani is of the view that investors should switch over to ICSA India from Visualsoft for better returns.

  • No limit to Boeing deal: HCL Technologies

    9th February, 2005 11:12

    The deal, valued at over US $ 100 million is expected to require more than 400 engineers over the course of the next year.

  • JK Corporation firms up, hits 52-week high

    9th February, 2005 10:58

    JK Corporation has touched a 52-week high of Rs 58.80. At 10:31 am the share is quoting at Rs 57.10, up Rs 5, or 9.60%.

  • Bihar Sponge scales a 52-week high

    9th February, 2005 10:52

    Bihar Sponge has touched a 52-week high of Rs 21. It is trading with volumes of 94,350 shares.

  • Bids invited to sell Hindalco's 1.64% stake

    9th February, 2005 10:48

    Uttar Pradesh’s Industrial Corporation has invited bids to sell 1.64% stake in Hindalco.

  • Jain Irrigation hits a 52-week high

    9th February, 2005 10:46

    Jain Irrigation has touched a 52-week high of Rs 122.50. It is trading with volumes of 1,57,866 shares.

  • SBI Home Finance makes smart moves

    9th February, 2005 10:39

    SBI Home Finance has touched a 52-week high of Rs 32.80. The stock has gained on expectations that the forthcoming budget may allow FDI in real estate.

  • Promoters sell 14% stake in Subex Systems

    9th February, 2005 10:30

    Subex Systems has witnessed two huge block deals at Rs 400 per share. The promoters have sold 14% to institutional investors.

  • HDFC cuts floating loan rates by 0.25%

    9th February, 2005 09:53

    HDFC has lowered lending rates by a quarter percentage point on two of its loan schemes.

  • Gold to find support at $411.40: Lewis

    9th February, 2005 09:39

    The gold has been under pressure but has found some comfort around the 200-day moving average of $411.40 level, says Lewis.

  • Asian markets mixed: Nikkei trading lower

    9th February, 2005 09:31

    Asian markets are trading mixed. Tokyo's Nikkei average is down 0.19% at 11,468.08 while Hang Seng is up 0.37% at 13,845.63.

  • Wall Street posts modest gains

    9th February, 2005 09:04

    Investors sent US stocks narrowly higher amid a recovering dollar and moderating oil prices.

  • 3-I Infotech files a draft with SEBI

    9th February, 2005 20:16

    3-I Infotech, formerly known as ICICI Infotech has filed a draft red herring prospectus with market regulator SEBI for its proposed IPO.

  • Christie's joins in to help tsunami victims

    9th February, 2005 20:00

    Carlos Santana's drums and Aishwarya Rai's clothes were auctioned to raise money for Tsunami victims at Christie's in Manhattan.

  • Infotech files draft red herring prospectus

    9th February, 2005 19:39

    Infotech Limited, formerly ICICI Infotech, a provider of IT solutions and services announced that the company has filed a draft red herring prospectus for its prop

  • Ministry implements Kelkar report gradually

    9th February, 2005 19:20

    The finance ministry has decided to implement recommendations of the Kelkar Committee gradually, rather than at once.

  • EPC services seek support from Budget

    9th February, 2005 17:49

    Is the industrial revival for real? The backroom boys of Indian industry - the people who run engineering, procurement and construction companies . ask for friendl

  • Aiyar to discuss ONGC's stake in Yukos

    9th February, 2005 17:31

    Petroleum Minister Mani Shankar Aiyar will take up ONGC's proposal to acquire 15-20% stake in embattled Russian firm Yukos' core asset, Yuganskneftegaz.

  • Futures to give oil firms greater control

    9th February, 2005 17:00

    The Multi Commodities Exchange, MCX, has launched crude oil futures. With this move, Indian oil companies will have a greater say in determining crude oil prices.

  • Sensex to break out from 6696 levels

    9th February, 2005 16:57

    Analysts are still keen on a pre-Budget rally, despite continuing volatility. The technical charts indicate 6696 on the Sensex as a crucial target, and till then t

  • Markets rally on broadbased buying

    9th February, 2005 16:35

    The markets rallied on the back of strong buying interest across the board. Most of the bank, auto, and oil and gas shares gained but the pharma stocks were depres

  • Rupee slides as state banks buy dollars

    9th February, 2005 16:21

    The rupee has closed weaker today, as state-owned banks, perhaps on behalf of the RBI, bought dollars. Bond prices are up, but analysts are not sure if this is a t

  • Bajaj Auto takes UTI to court

    9th February, 2005 16:13

    Bajaj Auto has filed a case against UTI in the Mumbai High Court.

  • Trading in local base metals market weak

    9th February, 2005 16:08

    Trading in the local base metals market remained weak though nickel and zinc made gains. Demand for metals was weak and prices fell on the London Metal Exchange.

  • Alcan Inc posts net loss in last quarter

    9th February, 2005 16:07

    Montreal-based aluminum giant Alcan Inc. skidded into the red during the final quarter of its fiscal year thanks in part to one-time charges associated with its Pe

  • Copper, nickel up on dollar, short covering

    9th February, 2005 16:04

    Copper and nickel on the London Metal Exchange were up at yesterday’s late kerb as a slightly weaker dollar and short covering lifted three-month copper prices abo

  • Stockists may stop drug supply tomorrow

    9th February, 2005 15:56

    Even as chemists and the government try to resolve the shortage of psychotropic drugs, pharmaceutical companies and stockists are on a collision path. Sources said

  • HDFC buys IT, sells oil and banks in Jan

    9th February, 2005 15:39

    HDFC mutual fund were big buyers in the information technology space while it sold out of the oil and banking stocks.

  • BPO industry asks for tax exemption

    9th February, 2005 15:37

    The Indian BPO industry is expecting the Finance Minister to usher in the next wave of outsourcing. But there continues to be the 'age old' demand of tax exemptio

  • Tax experts want I-T Act redone, stability

    9th February, 2005 15:10

    Direct taxes is an area expected to witness the most action in this year's budget, with many expecting wholesale tax reforms, as promised by the Finance Minister t

  • Porsche Boxter-S comes to India

    9th February, 2005 15:00

    Porsche has just launched the Boxter-S. The two-seater will be priced at Rs 50 lakhs.

  • Kalyani Steels up on large volumes

    9th February, 2005 14:58

    Kalyani Steels has moved up on large volumes. At 2:30 pm the share is quoting at Rs 117, up Rs 15.70, or 15.50%.

  • Tax expectations remain unfulfilled

    9th February, 2005 14:55

    The Finance Minister had spoken of big bang tax reforms in July last year. He had sought a consensus on the Kelkar committee report. However, in these seven months

  • Stoploss of Rs 391 advised in Tata Power

    9th February, 2005 14:46

    Prakash Gaba feels that traders should keep a stoploss of Rs 391 in Tata Power Company.

  • Titan Industries locked at 20% upper limit

    9th February, 2005 14:32

    Titan Industries is locked at 20% upper limit of the circuit. The stock is up Rs 37.50 at Rs 225.10 with volumes of over 8.75 lakh shares.

  • Enter HLL on dips for long term: Gaba

    9th February, 2005 14:23

    Prakash Gaba is of the view that investors can enter HLL on dips for the long term.

  • Sensex above 6600: Midcaps rally

    9th February, 2005 14:18

    The markets have moved up on the back of fresh buying interest almost across the board. Several midcap tyre, consumer durable, capital goods, cement, and steel sha

  • BCCI cannot award telecast rights: HC

    9th February, 2005 14:07

    The Chennai High Court, HC, has ruled that the BCCI cannot award telecast rights to any party till further orders.

  • Exit Punjab Tractors; buy M&M, Tata Motors

    9th February, 2005 13:44

    Mehraboon Irani is of the view that investors should switch over to M&M, Ashok Leyland or Tata Motors from Punjab Tractors.

  • Sensex touches 6600: Heavyweights up

    9th February, 2005 13:11

    The markets have moved up on the back of fresh buying interest almost across the board. Several midcap tyre, consumer durable, capital goods, cement, and steel sha

  • Buy Titan if it dips to Rs 150, says Irani

    9th February, 2005 12:31

    Mehraboon Irani feels that investors can buy Titan Industries if it comes down to Rs 150 for the long term.

  • Bk of Punjab open offer 'fair' at Rs 40

    9th February, 2005 12:26

    Analysts say, Bank of Punjab is fairly valued for an open offer at Rs 40 levels, and there may even be an upside of Rs 50 from here. News broke yesterday that a fo

  • ABB India sees NEP as shot in growing arm

    9th February, 2005 12:22

    Indian arm of ABB sees the National Electricity policy as a huge growth opportunity for the electricity sector in the coutnry and expects its own growth trajectory

  • Exit i-flex Solutions, buy Geodesic: Irani

    9th February, 2005 12:14

    Mehraboon Irani feels that investors should switch over to Geodesic from i-flex Solutions for better profits.

  • Siemens to invest $500 mn in India

    9th February, 2005 12:02

    Siemens has earmarked $500 mn for investments in India.

  • Punjab Tractors: Keep stoploss of Rs 175-180

    9th February, 2005 11:54

    Ashwani Gujral is of the view that investors should hold Punjab Tractors with a stoploss of Rs 175-180.

  • FDI policy for retail in 2 mths: Kamal Nath

    9th February, 2005 11:54

    Minister of Commerce and Industries, Kamal Nath has said that the FDI Policy for the retail sector will be out in the next two months.

  • Dhampur Sugar looks overpriced, says Irani

    9th February, 2005 11:23

    Mehraboon Irani is of the view that Dhampur Sugar is overpriced and investors should not enter the stock. They can invest in Upper Ganges Sugar.

  • Sector gains to drive markets: analysts

    9th February, 2005 11:11

    Analysts are looking for strong moves on the bourses in the next couple of days, for a return to the pre-Budget rally. Gains will be sector-specific, as investors

  • Pre-Budget markets to be rangebound: Surana

    9th February, 2005 10:53

    Derivatives analyst Ajit Surana says that the markets are likely to move within a range before the Budget.

  • Crompton Greaves among major gainers

    9th February, 2005 10:50

    Crompton Greave has touched a 52-week high of Rs 389.90. At 10:25 am the share is quoting at Rs 380, up Rs 27.50, or 7.80%.

  • Jindal Strips hits a 52-week high

    9th February, 2005 10:47

    Jindal Strips has touched a 52-week high of Rs 365.80. At 10:22 am the share is quoting at Rs 335.00, up Rs 30.15, or 9.89%.

  • Crude futures debut on MCX at Rs 2050/bbl

    9th February, 2005 10:40

    Crude futures made its debut on the Multi Commodity Exchange, MCX, today at Rs 2050 per barrel. Following this, Indian companies will soon be able to hedge themsel

  • Ceat touches a 52-week high

    9th February, 2005 10:31

    Ceat has touched a 52-week high of Rs 81.70. It is trading with huge volumes of over 3.65 lakh shares.

  • Market opens on a positive note: Banks gain

    9th February, 2005 10:26

    The markets have opened on a positive note. Several bank, power, pharma, and auto stocks have gained. Stock specific action is seen in the midcap stocks.

  • Crude bounces back up from 40wk low

    9th February, 2005 09:49

    Crude oil has bounced back from its four-week low yesterday, as traders await US inventory data and the IEA report. But Saudi Arabia's promise to provide enough su

  • Rupee inches on opening but dips expected

    9th February, 2005 09:32

    The rupee has opened marginally up, but some dips are expected owing to the dolar's continued overseas firmness. Bond prices are also up, and a rangebound market i

  • Money Calls: Ramakumar, Sharma

    9th February, 2005 09:14

    The bond markets are expected to be rangebound, says Ramakumar.

  • Equity Calls: Gaba, Choksey, Bhat

    9th February, 2005 08:53

    Markets are likely to see selective action in the run-up to the budget and midcaps will continue to remain in focus, says Bhat.

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