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Moneycontrol News Archive : 2 June, 2005

  • Kotak MF unveils the contrarion investment

    2nd June, 2005 18:26

    Kotak Contra will invest in fundamentally strong companies, which are temporarily unpopular because of short-term mis-pricing.

  • Rupee and bonds gain strength

    2nd June, 2005 17:24

    Rupee and bonds firmed. Rupee ended firm on long liquidation by banks as dollar weakened overseas.

  • Volumes remain low in the F&O segment

    2nd June, 2005 17:00

    Volume remained low in the F&O segment. Total volumes are at about Rs 8880.80 crore (88.80 billion).

  • Ranbaxy, IDBI, Bata, Lupin, Hindalco, TCS...

    2nd June, 2005 16:50

    Technical Analyst, Prakash Gaba discusses Ranbaxy, IDBI, Bata, Lupin, Hindalco, Maruti, and TCS.

  • Asian markets close mixed

    2nd June, 2005 16:40

    Asian markets closed mixed. Japan's Nikkei average ended down 0.44% today as investors booked profits after a five day winning streak.

  • Definitely a bearish spread: Jawalkar

    2nd June, 2005 16:34

    Ashwini Jawalkar of Prabhudas Lilladher feels that a lot of short positions have been created today. Until 3 o'clock, around 17 lakh shares have been added in the

  • Market slide may be limited: Jamshed Desai

    2nd June, 2005 16:22

    Jamshed Desai of IL&FS Investsmart says that the market's correction, on the back of falling steel prices, may not be very deep, despite the fall witnessed today.

  • Bombay Dyeing is a long term play, says Jain

    2nd June, 2005 16:13

    Hardik Jain is of the view that long term investors can buy Bombay Dyeing and Manufacturing at current levels by keeping a stoploss of Rs 290. The stock can move

  • Steel stocks: Drop it if you haven't already

    2nd June, 2005 15:57

    International steel prices have witnessed a sharp fall. Massive inventory pile up and demand slowdown in China have led to this fall. However, analysts views are m

  • Make a hassle-free health insurance claim

    2nd June, 2005 15:43

    Buying medical insurance is a matter of a few days…but making a claim can run into months. The reason – slip-ups in the procedures. Moneycontrol helps you steer cl

  • Titan will hit Rs 350-375 in 2 months: Jain

    2nd June, 2005 15:21

    Hardik Jain is of the opinion that technically and fundamentally, Titan Industries looks poised to touch Rs 350-375 levels. He suggests buying at every correction.

  • Exit Polaris at every rise, says Jain

    2nd June, 2005 15:15

    Hardik Jain of ISJ ComDesk is of the view that investors must exit Polaris Software Laboratories at every rise.

  • Stay invested in Bajaj Auto: Mehta

    2nd June, 2005 15:05

    Dipan Mehta is of the view that Bajaj Auto is attracting a lot of attention in the auto sector and that investors must stay invested in it.

  • Maruti to show gains in 6-12 months

    2nd June, 2005 14:53

    Dipan Mehta is of the opinion that Maruti's strategy, to take the customer up the value chain, will pay off in long term. Investors must hold it for 6-12 months to

  • Markets weak: Metal, oil, & tech down

    2nd June, 2005 14:22

    The market continues to trade lower due to selling in metal, FMCG, technology, oil, auto, banking and select pharma stocks. Capital goods stocks however are witnes

  • Hold Nicholas Piramal: Mehta

    2nd June, 2005 14:11

    Dipan Mehta is of the opinion that Nicholas Piramal is a hold at this juncture and one may see a good rise in the stock price.

  • BOC India moves up smartly

    2nd June, 2005 13:56

    BOC India has touched an intraday high of Rs 104.80 and an intraday low of Rs 99.60. At 2:10 pm, the share is quoting at Rs 103.60, up Rs 4.15, or 4.17%.

  • Stay invested in Matrix Labs,Stride Arcolab

    2nd June, 2005 13:27

    Dipan Mehta is of the opinion that the merger between Matrix Labs and Stride Arcolab is a good combination as both the companies are strong in their respective fie

  • Small investors must avoid commodities:Mehta

    2nd June, 2005 12:57

    Dipan Mehta feel that small investors must avoid commodities as these stocks are difficult to track. At a slightly higher price, they should shift their allegiance

  • Euro to aid Indian steel firms: Uttam Galva

    2nd June, 2005 12:43

    Ankit Miglani, Director of Uttam Galva Steel says that the fundamental demand is still strong for steel. The decline in the euro might impact imports from the Euro

  • Power Sector will consolidate for a quarter

    2nd June, 2005 12:28

    Deepak Chhabria is of the view that power sector stocks will consolidate for a quarter.

  • Price cut not to impact margin: JVSL

    2nd June, 2005 12:17

    Jindal Vijayanagar Steel Ltd, JVSL, has cut the prices of its steel products by Rs 2000, to adjust it along with international prices. The price cut is not expecte

  • Indian markets fairly valued: McNeilage

    2nd June, 2005 12:05

    Most foreign investors feel that the Indian markets are fairly valued at the current levels, says Hazel McNeilage, MD of Principal Global Asia.

  • Smoke signals

    2nd June, 2005 11:57

    The health ministry's ban on smoking scenes in films and on TV ruffles feathers.

  • Bullish on the cement sector: Rajen Shah

    2nd June, 2005 11:56

    The midcap index is trading near its all time highs, and the CNX midcap 200 has nearly doubled in the last 12 months. This has led to several stocks still being un

  • Thumbs up for cement, auto: Quantum

    2nd June, 2005 11:42

    Ajit Dayal remains bullish on cement and the auto sector. He however, is bearish on IT and steel.

  • Pricol up on large volumes

    2nd June, 2005 11:34

    Pricol has touched an intraday high of Rs 60.25 and an intraday low of Rs 56.75. At 11:48 am, the share is quoting at Rs 58.75, up Rs 2.35, or 4.17%.

  • OPEC not to hike prices: Sam Dale

    2nd June, 2005 11:12

    Sam Dale, Bureau Chief of Energy Intelligence says that OPEC cannot hike prices because there isn't any capacity to increase pumping oil. However, markets still ex

  • Mukand will trade in the range of Rs 65-80

    2nd June, 2005 11:02

    Hardik Jain is of the opinion that investors must book profits in Mukand. The stock will oscillate between Rs 65-80 levels until fundamentally positive news trigge

  • Market slips into the red: Metals depressed

    2nd June, 2005 10:54

    The market has lost its early gains and is looking volatile. Losses are seen in metal and select oil, auto, pharma and technology stocks. However, buying is seen i

  • Only buyers in Vindhya Telelink, stock up

    2nd June, 2005 10:44

    Vindhya Telelin is locked at 10% upper limit. There were pending buy orders of 4,301 shares, with no sellers available.

  • Buy Maruti at Rs 400-415 levels: Jain

    2nd June, 2005 10:42

    Hardik Jain is of the view that numbers of Maruti Udyog are not encouraging. He suggests fresh buying in this stock at lower levels of around Rs 400-415.

  • Bajaj Auto can grow by Rs 50-100 next month

    2nd June, 2005 10:39

    Hardik Jain feels that in two-wheelers segment, Bajaj Auto looks more interesting. He expects a breakout with an increase of Rs 50-100 in it in next one month.

  • Indiabulls continues to rally

    2nd June, 2005 10:30

    Indiabulls Financial Services has touched an intraday high of Rs 140.10 and an intraday low of Rs 131.40. At 10:44 am, the share is quoting at Rs 137.55, up Rs 6.5

  • 'Deep Throat' comes out in the open

    2nd June, 2005 10:17

    He brought down the Richard Nixon government and now finally takes a bow.

  • Markets open firm: Pharma, tech & oil up

    2nd June, 2005 10:14

    The markets have opened on a firm note amid buying in pharma, technology, auto and banking and select oil stocks.

  • LIC south zone reports 15% growth

    2nd June, 2005 10:11

    LIC South zone has reported a 15% growth in total premium income to Rs 9,859.42 crore during 2004-05.

  • A K Shukla frontrunner for top post at LIC

    2nd June, 2005 10:09

    The three managing directors at LIC are the contenders to the post of LIC chairman.

  • Markets need uptick in volumes: Chhabria

    2nd June, 2005 10:08

    Deepak Chhabria of IL&FS Investsmart says that the markets should be ranged, and pays great emphasis on the need for volumes to pick up for the bull run to sustain

  • Cannes Lions festival to begin on June 19

    2nd June, 2005 09:53

    The 52nd Cannes Lions festival is set to begin on June 19. This year three Indians will be seen as judges at the Cannes Advertising festival.

  • Sterlite Ind Q4 net loss at Rs 39.33cr

    2nd June, 2005 09:45

    Sterlite Industries announced its results. The company has posted a net loss of Rs 39.33 crore in Q4 against a profit of Rs 73.30 crore.

  • City newspapers set to woo vendors

    2nd June, 2005 09:41

    With a myriad choice of newspapers being offered to the consumer in Mumbai, newspaper owners compete against one another in order to get their newspaper the maximu

  • ATF price cut to benefit customers: Gopinath

    2nd June, 2005 09:37

    Managing Director of Air Deccan, Captain GR Gopinath says that they will pass the entire concession of the fuel price cut to the customer.

  • High scale transfers in Income Tax Dept

    2nd June, 2005 09:21

    One of the largest reshuffles in the Income Tax department has taken place, as the Finance Ministry orders large scale transfers of Income Tax Commissioners all ov

  • Hindustan Zinc Q4 net up at Rs 228cr

    2nd June, 2005 09:15

    Hindustan Zinc has announced its results. Its Q4 net is up at Rs 228 crore (Rs 2.28 billion).

  • Market cues: FIIs net buy $68.30 mn on Tues

    2nd June, 2005 09:11

    Market cues: FIIs net buy $68.30 million and MFs net sell Rs 75.37 crore on Tuesday.

  • Asian markets trading firm; Nikkei flat

    2nd June, 2005 09:11

    Asian markets are trading firm following overnight positive cues from Wall Street.

  • Gold likely to be rangebound: Khandelwal

    2nd June, 2005 09:04

    The gold is expected to be rangebound today, says Khandelwal.

  • Indian ADRs: Tata Motors, ICICI Bank up

    2nd June, 2005 08:58

    A look at how the Indian ADRs performed in the US market. The non- tech pack ended in the green with Tata Motors at 10.37 that is up a good 5.38% and ICICI Bank up

  • Greenback to continue its upward trend

    2nd June, 2005 08:54

    Rupee is expected to weaken against the US dollar as the greenback will continue its upward trend against leading currencies.

  • Equity calls: Bhambwani, Choksey, Mathew

    2nd June, 2005 08:48

    The markets are likely to remain rangebound over the short term, says Choksey.

  • Sail will not go below Rs 50, says Jain

    2nd June, 2005 17:47

    Hardik Jain is of the opinion that Sail, will not witness a correction more than Rs 2-3. He is bullish on Sail as well as Tisco.

  • Yes Bank finalises price band for IPO

    2nd June, 2005 17:20

    Yes Bank is entering the capital market with its IPO on June 15, 2005. It is offering offer 70 million equity shares of Rs 10 each for cash, through the 100% book-

  • Ignore midcaps, buy equity funds: Kumar

    2nd June, 2005 16:58

    Dhirendra Kumar of valueresearchonline.com says that it is best to ignore midcaps. It is far safer to invest in diversified equity funds, which anyways have a dece

  • Exit Shipping Corporation of India: Jain

    2nd June, 2005 16:43

    Hardik Jain is of the view that Shipping Corporation of India will remain rangebound until a fundamentally positive news triggers it. His suggestion is to exit it

  • Ruchi Soya is going to correct, book profits

    2nd June, 2005 16:37

    Hardik Jain is of the view that technically Ruchi Soya Industries looks overbought. It is likely to correct minimum by Rs 25-30. He suggests exiting it and re-ente

  • Correction in midcaps: Sensex tests 6650

    2nd June, 2005 16:32

    The market lost ground amid selling in most of the metal, FMCG, technology, oil, banking, pharma, auto, and capital goods stocks.

  • Capital expansion to yeild Rs 55cr: SPL Ind

    2nd June, 2005 16:19

    The IPO of SPL Industries will be used to fund the company's capital expansion and capacity increase. The company plans an increase in its fabrics and knitted garm

  • Suven Pharma eyes 30% growth this year

    2nd June, 2005 16:01

    Suven Pharma is very satisfied with its developments during the past three years. The company plans for a 30% growth this year and 40-50% growth for the next year,

  • Base metal prices to decline: Citigroup

    2nd June, 2005 15:50

    Even as Indian metal producers cut prices yesterday, global copper prices rose despite a surging dollar. US copper futures lurched up yesterday. Alan Heath, Chief

  • Tourism booms, profits rise: Thomas Cook

    2nd June, 2005 15:38

    The tourism industry seems to be going through a good phase. With the launch of new airlines and the slash in ticket prices, Ashwini Kakkar, MD, Thomas Cook expect

  • China on the road to a bear market: CFC

    2nd June, 2005 15:17

    Even as the Chinese government launches its disinvestment programme, the stock markets are seeing a bout of selling. Industry is also up against production and imp

  • CRAM space looks attractive: LKP Shares

    2nd June, 2005 15:13

    S Ranganathan, Pharma analyst at LKP Shares & Securities feels that the Contract Research and Manufacturing, CRAM, space holds a lot of promise.

  • Subsidy issues must be transparent: Tulsian

    2nd June, 2005 15:00

    Investment Advisor, SP Tulsian is positive that even with a hike in the oil prices, companies like ONGC and OIL India should be able to share the burden of subsidy

  • EU vote not to affect euro hugely: ABN Amro

    2nd June, 2005 14:46

    The French and Dutch vote against the new European Union constitution may weaken the euro slightly, to about 1.35-1.39 per dollar, but there is no grave risk to th

  • BEML down on large volumes

    2nd June, 2005 14:12

    BEML has touched a 52-week high of Rs 724. At 2 pm, the share is quoting at Rs 690.25, down Rs 14.8, or 2.1% .

  • Price cuts due to market dictates: JSPL

    2nd June, 2005 14:11

    Director of Finance of Jindal Steel and Power, Sushil Maroo, attributes the cut in steel prices to the market dictates and spot prices.

  • BEML has good prospects

    2nd June, 2005 13:51

    Dipan Mehta is of the view that BEML is heading in a positive direction. The good prospects of the company can take the stock to Rs 900 levels in a 12-18 months ti

  • FM happy on fiscal deficit management

    2nd June, 2005 13:04

    Finance Minister P Chidambaram has said that the management of the FY05 fiscal deficit has been much better and FY06 borrowing will be lower than the Budget target

  • Steel prices to ease 15-20%: Consline AG

    2nd June, 2005 12:55

    Klause Kreutzer of Consline AG, expects a cool down of about 15-20% in steel prices by the end of FY05. He believes, that the slow down in steel prices has come ab

  • Rising prices to make oil sector volatile

    2nd June, 2005 12:35

    Deepak Chhabria is of the view that the rise in oil prices will change market sentiments in short term. But in medium term, it will be difficult to make money in o

  • Sensex below 6700: Metal & FMCG decline

    2nd June, 2005 12:25

    The Sensex has slipped below 6700 amid losses in metal, FMCG, auto, oil, pharma, and select banking stocks. Some buying however is seen in capital goods stocks.

  • Exclusive card? Ladies, take your pick!

    2nd June, 2005 12:14

    There's a stack of exclusive women's card on the market for you, but does it make sense for you to apply for one, or is a general card just as good? Moneycontrol c

  • Raymond will touch Rs 450 next year: Jain

    2nd June, 2005 12:00

    Raymond is the favourite pick in textiles of Hardik Jain. He is of the opinion that the stock will touch Rs 450 level by next year.

  • NTPC is a long term play, says Jain

    2nd June, 2005 11:57

    Hardik Jain is of the opinion that National Thermal Power Corporation is an underperformer. It will rise to Rs 110 levels in 12-18 months. He suggests investors wi

  • Only buyers in Patel Roadways, stock up

    2nd June, 2005 11:55

    Patel Roadways is locked at 10% upper limit. There were pending buy orders of 4,636 shares, with no sellers available.

  • Aptech firms up on buying interests

    2nd June, 2005 11:37

    Aptech has touched an intraday high of Rs 55.50 and an intraday low of Rs 52.30. At 11:50 am, the share is quoting at Rs 54.70, up Rs 2.45, or 4.69%.

  • Triveni Engg files DRH prospectus with Sebi

    2nd June, 2005 11:16

    Triveni Engineering & Industries has filed its draft red herring prospectus with the Sebi for a public issue of 50,000,000 equity shares of Re 1 each for cash, at

  • Reliance Energy is a good value pick: Jain

    2nd June, 2005 11:11

    Hardik Jain is of the opinion that Reliance Energy can quote Rs 625-650 in a year. He suggests buying it at current levels.

  • UTI Dividend Yield Fund debuts at Rs 10.04

    2nd June, 2005 11:00

    UTI Dividend Yield Fund has debuted at Rs 10.04 per unit as against a face value of Rs 10 per unit.

  • Int Travel House buzzes on large volumes

    2nd June, 2005 10:48

    International Travel House is trading with volumes of 1,87,906 shares. At 11:02 am the share is quoting at Rs 140.40, up Rs 6.45, or 4.82%.

  • SPL Ind files DRH prospectus with Sebi

    2nd June, 2005 10:42

    SPL Industries, a Delhi-based knitwear and garment manufacturer, has filed a red herring prospectus with Sebi to raise around Rs 60 crore to fund capacity expansio

  • Aarvee Denim scales a new 52-week high

    2nd June, 2005 10:40

    Aarvee Denim and Exports has touched a 52-week high of Rs 132.95. At 10:38 am, the share is quoting at Rs 132.90, up Rs 12.05, or 9.97%.

  • Birla Ericcson flares on large volumes

    2nd June, 2005 10:38

    Birla Ericsson has touched a 52-week high of Rs 33.30. It is trading with volumes of 2,72,974 shares.

  • F&O side may see some correction: Surana

    2nd June, 2005 10:30

    According to Ajit Surana of Dimensional Securities, the F&O market may see some correction in the next few weeks.

  • Pitfalls that make your mediclaim worthless

    2nd June, 2005 10:17

    If your medical insurance claim has been rejected, chances are that you made a mistake while signing on that application form. In order not to goof-up while buying

  • Machino Plastics touches a 52-week high

    2nd June, 2005 10:12

    Machino Plastic has touched a 52-week high of Rs 81. At 10:02 am, the share is quoting at Rs 79.50, up Rs 8.25, or 11.58%.

  • Sesa Goa to mine iron ore in Jharkhand

    2nd June, 2005 10:11

    Sesa Goa Limited has acquired a lease to mine iron ore in the state of Jharkhand, India.

  • Ranbaxy denies getting $90mn from Pfizer

    2nd June, 2005 10:09

    Ranbaxy has denied that it is getting $90 million from Pfizer as withdrawal and non-compete compensation on the much-hyped patent dispute for Lipitor or Atorv

  • M&M working on launching a Rs 1 lakh tractor

    2nd June, 2005 10:00

    It is not only car buyers who are getting good deals on their favourite set of wheels. Farmers can now expect cheaper tractors too. Market leader, Mahindra & Mahin

  • Tech NAVs slip, Pharma, auto funds flare

    2nd June, 2005 09:46

    NAVs of most of the equity mutual funds moved higher yesterday. Pharma and auto funds led the pack of winners, but technology, media and banking funds suffered set

  • Met Department awaits rains in next 24 hours

    2nd June, 2005 09:42

    In its first bulletin of the South West Monsoon, the Met Department expects rain over the Andaman and Nicobar Islands, the Konkan and Goa, South Maharashtra and co

  • Dutch give thumbs down to EU constitution

    2nd June, 2005 09:37

    The Dutch people have given a thumbs down to the EU constitution, leading the euro to plunge.

  • F&O strategy on ONGC

    2nd June, 2005 09:25

    F&O strategy on ONGC by IL&FS Investsmart.

  • Stocks in news: Ispat, Essar Steel, ONGC

    2nd June, 2005 09:17

    Stocks in news: Ispat, Essar Steel, ONGC, GAIL, Ranbaxy, Adani Exports

  • World Bank to focus on Africa: Wolfowitz

    2nd June, 2005 09:12

    Paul Wolfowitz, the new World Bank President, says his agenda will focus on tackling corruption and making poor countries feel less sidelined.

  • Crude trades past $54/bbl on refinery woes

    2nd June, 2005 09:11

    Crude is trading at $54.44/bbl at the Nymex. However, equipment failures at Royal Dutch/ Shell Group might cause US fuel inventories to drop.

  • Oil PSUs slash ATF prices by 8.7-9.6%

    2nd June, 2005 09:05

    Not including sales tax, aviation fuel will now cost Rs 29,300 per kilolitre. That is down over 9% from the May price.

  • PM raps Left on urgency of oil price hike

    2nd June, 2005 09:00

    The Cabinet's scheduled meeting today has been postponed till tomorrow. Sources say, petrol may cost Rs 2 a litre more, diesel Rs 1.50 and kerosene Re 1 more.

  • Stocks rally on Wall St; Dow gains 82 points

    2nd June, 2005 08:54

    Stocks rallied on Wall Street as investors grew hopeful that the interest rate tightening cycle might soon draw to a close. The Dow rose 82 points to 10,550.

  • Money calls: Prabhu, Shenoi

    2nd June, 2005 08:51

    Some positives are expected in today's trade. The 10-year bond is expected to trade in the 6.90-6.94% range, says Prabhu.

  • F&O cues: Nifty Futures discount at 24 pts

    2nd June, 2005 08:44

    NSE F&O cues: Nifty Futures continue at a steep discount of 24 points and Volumes continue to be low in F&O.

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