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Moneycontrol News Archive : 3 June, 2005

  • Dark horse: Experts vote for tourism stocks

    3rd June, 2005 20:38

    The sector is booming, and stocks are waiting to be discovered. East India Hotel and Asian Hotels are favourite picks.

  • Air India to float IPO by FY05 end

    3rd June, 2005 17:18

    Air India plans to hit the capital markets by December 2005. It will also appoint an advisor for laying out the roadmap for its IPO by the end of this month. V Thu

  • Volumes improve in the F&O segment

    3rd June, 2005 16:55

    Volumes have improved in the F&O segment. Nifty Futures discount has trimmed to 18 points.

  • Infosys, HLL, HPCL, ONGC, IPCL, Satyam...

    3rd June, 2005 16:38

    Technical analyst, Salil Sharma discusses Reliance, Infosys, Satyam, TCS, Zee, HPCL, ONGC, ITC, and IPCL.

  • Earnings in Colgate will be spectacular

    3rd June, 2005 16:29

    Girish Nadkarni is of the opinion that under-ownership is pushing Colgate Palmolive up. With an increase in the demand of consumer goods, Colgate's earnings will b

  • Keep stoploss of Rs 360-365 in Tata Power

    3rd June, 2005 16:15

    Vidur Pendharkar feels that in short term, investors must keep a stoploss of Rs 360-365 in Tata Power. Book profits and shift to other stocks.

  • HDFC MF sells 2.3% stake in Century Textiles

    3rd June, 2005 16:10

    HDFC Mutual Fund offloads 2.33% stake in Century Textiles & Industries.

  • Rainfall to be average: YC Deveshwar

    3rd June, 2005 16:01

    CII Chief, YC Deveshwar says that India's GDP should grow at 7.2% in FY06 and rainfall this year should be average.

  • Sell offs must favour retail side: Haldea

    3rd June, 2005 16:00

    Prithvi Haldea of Prime Database believes that the government should sketch a plan for disinvestments and then announce them. Continuous announcements about disinv

  • Cummins margins aided by low employee cost

    3rd June, 2005 15:38

    Anant J Talaulicar of Cummins India feels that the company will be able to maintain a double digit growth in the top and bottom line.

  • Crew BOS Q4 net at Rs 2.95cr

    3rd June, 2005 15:33

    Crew BOS has announced its results. The company's Q4 net is at Rs 2.95 crore as against Rs 68 lakh.

  • Free insurance: A double edged sword!

    3rd June, 2005 15:23

    Moneycontrol shows you how to look out for yourself or at least make more informed decisions while going for credit cards with freebies.

  • Sri Adhikari Q4 net loss at Rs 2.16cr

    3rd June, 2005 15:22

    Sri Adhikari has announced its results. The company has posted a net loss of Rs 2.16 crore in Q4 as against a net profit of Rs 86.90 lakh.

  • Exit KCP, says Nadkarni

    3rd June, 2005 15:05

    Girish Nadkarni is of the opinion that investors must exit KCP as soon as they get profits in it.

  • TDS : Tedious for NRIs

    3rd June, 2005 15:00

    There are several issues relating to tax policies that NRIs can and do complain about, however, none is as vexing as the rules regarding TDS. Sandeep Shanbhag make

  • Reliance Infra up on large volumes

    3rd June, 2005 14:49

    Reliance Industrial Infrastructure is trading with volumes of 1,97,496 shares. At 2:36 pm, the share is quoting at Rs 142.90, up Rs 7.85, or 5.81%.

  • Good EPS growth this year: Crew BOS

    3rd June, 2005 14:28

    Puneet Nikore, Director of Finance of Crew BOS feels that EPS growth of the company is due to better realisations and profitability.

  • L&T bags Rs 278cr NHAI road contract

    3rd June, 2005 14:14

    Larsen and Toubro Limited has bagged a Rs 278 crore road contract. The project would be funded by the Asian Development Bank and might be completed within 30 month

  • Birla GenNext Fund to target Indian Youth

    3rd June, 2005 13:24

    Birla India GenNext Fund will invest in companies expected to benefit from the consumption habits of the Indian youth.

  • Fuel prices must go up by Rs 4-4.5: BPCL

    3rd June, 2005 13:05

    Bharat Petroleum Corporation Limited, BPCL, is looking forward to a price hike in petrol and diesel prices by Rs 4 -4.5, as it would help them recover from the de

  • A quick look at Yes Bank IPO

    3rd June, 2005 13:04

    Yes Bank has announced that its IPO will hit the street on the June 15, and will have a price band of Rs 38 to 45 per share.

  • IndusInd Bank denies GE stake rumours

    3rd June, 2005 12:58

    IndusInd Bank MD Bhaskar Ghose denies that GE will pick up a stake in the bank. He says, there are talks with the RBI underway, on how the Hinduja-controlled promo

  • Alphageo spurts on buying interests

    3rd June, 2005 12:28

    Alphageo is trading with volumes of 1,00,144 shares. At 12:16 pm, the share is quoting at Rs 98.30, up Rs 5.95, or 6.44%.

  • 3i Infotech will remain between Rs 92-106

    3rd June, 2005 12:24

    Vidur Pendharkar feels that 3i Infotech has a short trading history. He feels the stock will remain rangebound.

  • Cummins India is in an uptrend: Pendharkar

    3rd June, 2005 12:19

    Vidur Pendharkar feels that the trend in Cummins India seems to be up for both short and long term.

  • Mutual Fund assets grow by 6% in May

    3rd June, 2005 12:16

    The assets managed by the MF industry shot up 6% to Rs 167,976 crore with 13 of the 30 funds showing an asset growth of more than 5%.

  • Govt planning 20% stake sale in Nalco

    3rd June, 2005 12:02

    The government is planning to sell 20% stake in Nalco. The government plans to raise around Rs 1900 crores throught the Nalco stake sale.

  • Appreciation expected in Sterlite Ind: Dutt

    3rd June, 2005 11:49

    Sanjay Dutt feels that FY06 will definitely be a better year for Sterlite Industries. His advice is to hold it as it will give good appreciations.

  • Tech & bank firm, metal stocks down

    3rd June, 2005 11:42

    The markets are trading firm as buying is seen in technology, banking, oil, FMCG, and pharma stocks. Losses however are seen in metal and select auto and capital g

  • Venkys touches a 52-week high

    3rd June, 2005 11:37

    Venkys has touched a 52-week high Rs 144.50. At 11:26 am, the share is quoting at Rs 143.05, up Rs 11.60, or 8.82% .

  • ABN Amro underweight on India: Ben Rudd

    3rd June, 2005 11:29

    Ben Rudd of ABN Amro feels that emerging market funds are still bullish on Asian markets, but liquidity is a key concern. ABN Amro is underweight on India at the m

  • Shringar Cinemas puts on good show

    3rd June, 2005 11:23

    Shringar Cinemas has touched an intraday high of Rs 60.10 and an intraday low of Rs 55.80. At 11:26 am, the share is quoting at Rs 59.40, up Rs 2.85, or 5.04%.

  • HCL Tech inks JV with Japan's NEC

    3rd June, 2005 11:07

    HCL Technologies has formed a joint venture, JV, with NEC of Japan. The JV capital will be at about million, and NEC will hold a 51% stake in it. NEC is Japan's

  • Avoid buying Indiabulls at current levels

    3rd June, 2005 11:04

    Sanjay Dutt is of the opinion that valuations of Indiabulls Financial Services are stretched right now. He advices investors not to buy it at the current levels.

  • Ranbaxy will find support at Rs 1000: Dutt

    3rd June, 2005 10:41

    Sanjay Dutt feels that in the short term Ranbaxy will find support at Rs 1000 levels.

  • Phoenix Lamps moves up smartly on bourses

    3rd June, 2005 10:34

    Phoenix Lamps has touched an intraday high of Rs 54.10 and an intraday low of Rs 51.05. At 10:22 am, the share is quoting at Rs 53.95, up Rs 3.70, or 7.36%.

  • Brokers bullish on L&T, ITC, ONGC, GAIL

    3rd June, 2005 10:25

    Brokerage houses are bullish on Britannia, L&T, ITC, ONGC, GAIL, Goodlass Nerolac, Shree Cement, Raj Rayon, Apar Industries, Dewan Housing.

  • IRDA finds misuse of Key-man policies

    3rd June, 2005 10:21

    During inspection, the Insurance Regulator, IRDA has revealed that, companies have been defaulting in their Key-man insurance policies, wherein the policies that a

  • Aptech firms up today

    3rd June, 2005 10:17

    Aptech has touched an intraday high of Rs 57.70 and an intraday low of Rs 54.50. At 10:28 am, the share is quoting at Rs 57.10, up Rs 3.05, or 5.64%.

  • Birla Mutual launches 'India GenNext Fund'

    3rd June, 2005 10:10

    Birla Mutual Fund has come out with its "Birla India GenNext Fund, targetting the young people. The initial offer opens on June 14 and closes on July 12.

  • The euro is here to stay: Michael Wang

    3rd June, 2005 10:04

    Senior Reporter of European Mergers and Acquisitions at Dow Jones Newswires, Michael Wang says that the euro is here to stay and itís not going away.

  • JNPT logjam prompts scrap import ban

    3rd June, 2005 10:04

    Begining from July, containers of scrap steel bound for Ludhiana, may no longer be welcome at the Jawaharlal Nehru Port. The Nhava Sheva International Container Te

  • Stocks in news: Hind Motors, Gail, Zee, UBI

    3rd June, 2005 09:41

    Stocks in news: Hindustan Motors, Electrosteel Casting, Union Bank, Gail, Zee Telefilms.

  • Cabinet reshuffles, Soni may get I&B

    3rd June, 2005 09:36

    With the UPA government completing one year in office, a major reshuffle is on the way. Sources reveal that Ambika Soni could get the portfolio of I&B Minister. Du

  • Govt will hike fuel prices: PM

    3rd June, 2005 09:29

    Prime Minister Manmohan Singh has decided to hike the fuel prices. However, kerosene and cooking gas prices would remain unchanged.

  • Market cues: FIIs net buy $47 mn on Wed

    3rd June, 2005 09:24

    Market cues: FIIs net buy worth $47 million and MFs net buy Rs 20.31 crore (Rs 203.1 million) on Wednesday.

  • Cummins India Q4 net up at Rs 46.40cr

    3rd June, 2005 09:22

    Cummins India has announced its Q4 results. Its net profit is up at Rs 46.40 crore (Rs 464 million) against Rs 29.57 crore (Rs 295.7 million).

  • Gold looks overbought, says Narne

    3rd June, 2005 09:22

    The gold is currently looking overbought and likely to be rangebound, says Narne.

  • Money calls: Mody, Kaul

    3rd June, 2005 09:17

    Key gilts are expected to rise by 20 paise today after the inflation numbers, which is expected to be lower than last week, says Mody.

  • FM to table PSU bank consolidation today

    3rd June, 2005 09:10

    Finance Minister, P Chidambaram will meet with bankers today, and is expected to push further for consolidation in the PSU bank sector, and other financial package

  • Indian ADRs: Tata Motors & VSNL down

    3rd June, 2005 09:04

    Indian ADRs: Tata Motors down 2.79%, VSNL down 1.45% while Dr Reddy's up 0.86%.

  • Rupee to strengthen against the dollar

    3rd June, 2005 08:52

    The rupee is expected to strengthen against the US dollar as banks will continue to sell the greenback following the correction in the euro.

  • Should you play agri stocks before monsoon?

    3rd June, 2005 19:45

    The monsoon is just around the corner. The CMMACS has predicted a 34% deficit rainfall in June. The forecast is contrary to that of the MET department. Moneycontro

  • Rupee and bonds end on a strong note

    3rd June, 2005 17:14

    Rupee and Bonds firmed. Rupee firmed as euro regained against the dollar after a brief fall.

  • Sensex on track, may scale 6950: Jain

    3rd June, 2005 16:41

    Rajesh Jain of Pranav Securities says, volumes will also increase significantly, once the petrol price hike comes through, and the monsoon turns out to be normal.

  • Markets rally: Sensex & Nifty up over 1.4%

    3rd June, 2005 16:32

    The Sensex and Nifty closed up over 1.40% helped by strong gains in the Reliance group stocks. A rally was seen in technology, oil, pharma, banking, metal, and aut

  • Govt to maintain 51% in PSU banks: FM

    3rd June, 2005 16:29

    The Finance Minister, P Chidambaram is meeting public sector bankers in New Delhi today for an annual review and assesment.

  • Asian markets close higher: Nikkei up 0.18%

    3rd June, 2005 16:11

    Asian markets closed higher. Japan's Nikkei closed up 0.18% at 11,300.05.

  • Sehwag or Dravid? What's your risk style?

    3rd June, 2005 16:01

    Sanjay Matai draws lessons from the batting styles of Sehwag and Dravid and tells us how the same can be applied in the field of investments.

  • Idle salary accounts Ė Devilís workshop?

    3rd June, 2005 16:00

    Are you losing money because of that idle salary account from your previous job? Do you know if your bank is penalising you on your idle salary account? MoneyContr

  • Re-invest in TCS at Rs 1220-1247 levels

    3rd June, 2005 15:44

    Vidur Pendharkar feels that TCS is in a downtrend at present. He feels the stock will come down to levels of Rs 1220-1247. Investors can do fresh buyings at these

  • NTPC is long term play, says Nadkarni

    3rd June, 2005 15:35

    Girish Nadkarni is of the opinion that investors will get 15-20% returns from NTPC in three-five years.

  • Sterlite targets 30-40% growth this fiscal

    3rd June, 2005 15:29

    Sterlite Optical Technologies is optimistic about their growth this year. The company is targeting a 30-40% overall growth, says Dr Anand Agarwal, Chief Executive

  • Cable industry to show 30% CAGR growth

    3rd June, 2005 15:22

    The midcap space has been abuzz for the last few days. Cable stocks for one have seen a lot of activity in the last 2 days. Deven Choksey of K R Choksey Securities

  • Neyveli Lignite is a high growth stock

    3rd June, 2005 15:19

    Girish Nadkarni is of the opinion that Neyveli Lignite is a low risk, high growth company. It can give 15-20% returns in 2-3 years time.

  • Nalco not a very good bet: PN Vijay

    3rd June, 2005 15:02

    Investment advisor, PN Vijay says that unless the pricing of Nalco is very attractive, he would not touch the public issue. If they give it to me for Rs 100, I wil

  • Cement sector will perform well

    3rd June, 2005 14:53

    Girish Nadkarni is of the opinion that cement prices are likely to go up in next 12 months. With the robust demand, the sector will perform well.

  • IPO is an opportunity to investors: YesBank

    3rd June, 2005 14:37

    Rana Kapoor, MD and CEO of Yes Bank, says that his bank's IPO offers investors a good opportunity to get into the banking space. The issue will hit the street

  • Falling steel price indicates future trend

    3rd June, 2005 14:26

    Girish Nadkarni is of the opinion that falling steel price is just giving an indication of future trend. The fall is likely to wipe out the bottom lines of the sec

  • Reliance powers the Sensex above 6700

    3rd June, 2005 13:39

    The markets have bounced back on the back of strong gains in the Reliance group stocks. Several technology, bank, and oil stocks have also gained.

  • Hanil Era Textiles may touch Rs 47 levels

    3rd June, 2005 13:09

    Vidur Pendharkar feels that if Hanil Era Textiles crosses Rs 41.80 on large volumes, it may touch Rs 47 levels.

  • ING Vysya must quote above Rs 160 for gains

    3rd June, 2005 13:04

    Vidur Pendharkar feels that ING Vysya must trade above Rs 160 levels on large volumes to see some profits.

  • CMMACS predicts 34% deficit rainfall in June

    3rd June, 2005 13:02

    The Centre for Mathematical Modelling and Computing, has come out with their forecast for the rain which predict a 34% deficit rainfall in June. The forecast is co

  • Only buyers in Pantaloon Ind, stock up

    3rd June, 2005 12:48

    Pantaloon Industries is locked at 10% upper limit. There were pending buy orders of 2,312 shares, with no sellers available.

  • Oil to be volatile in short term: Swiss Asia

    3rd June, 2005 12:28

    With refineries operating at 96.2% capacity, the question on everyone's mind is whether these price levels are sustainable and if OPEC will continue to supply at t

  • Electrosteel okays $50mn GDR issue

    3rd June, 2005 12:23

    Electrosteel Castings board has approved a $50 million GDR issue, the proceeds of which will be utilised to meet the expansion of DI pipes production, costing

  • Clutch Auto scales a new 52-week high

    3rd June, 2005 12:18

    Clutch Auto has touched a 52-week high of Rs 109.50. At 12:06 pm, the share is quoting at Rs 109.10, up Rs 5.55, or 5.36%.

  • India eyeing LNG import deal with Pakistan

    3rd June, 2005 12:05

    India is eyeing a deal with Pakistan next week, which can double the country's LNG imports. Discussions would also be held regarding the $4 billion gas pipelin

  • Inflation rate lower at 5.38% vs 5.55%

    3rd June, 2005 11:58

    The inflation rate for the week ended May 21, is down to 5.38% as compared to 5.55% a week before.

  • Book profits in Jet Airways: Dutt

    3rd June, 2005 11:44

    Sanjay Dutt feels that Jet Airways will be under a lot of pressure. He advises investors who have bought an IPO to book profits now.

  • Sulzer hits a 52-week high

    3rd June, 2005 11:40

    Sulzer has touched a 52-week high of Rs 385. At 11:28 am, the share is quoting at Rs 377.05, up Rs 20, or 5.60%.

  • Buy ONGC at Rs 875-880 levels, says Dutt

    3rd June, 2005 11:33

    Sanjay Dutt feels that ONGC is a hold for long term. He feels it should be bought at declines.

  • IndusInd stock looks interesting: Adenwala

    3rd June, 2005 11:27

    Market Analyst, Paras Adenwala believes that if the news on Indus Ind bank is true then it would add spice to the stock. He believes the flatness in the markets ca

  • SBI MF proposes Magnum Multicap Fund

    3rd June, 2005 11:12

    SBI Mutual Fund has filed an offer document with Sebi for its new scheme Magnum Multicap Fund.

  • Price hike delay will affect oil adversely

    3rd June, 2005 11:07

    Sanjay Dutt feels that Oil companies are loosing out due to delay in the decision of a price hike on oil. Any more delay will affect the sector adversely.

  • Shaw Wallace makes smart gains today

    3rd June, 2005 10:50

    Shaw Wallace has touched an intraday high of Rs 194.50 and an intraday low of Rs 184.10. At 10:38 am, the share is quoting at Rs 193, up Rs 11.60, or 6.39%.

  • Market crash unlikely, liquidity woes remain

    3rd June, 2005 10:41

    Girish Nadkarni of IL&FS Investsmart says the markets are conmsolidating and there is no huge fall ahead, but he is concerned on liquidity. He remains bullish on

  • Sentiments bearish, exit steel at every rise

    3rd June, 2005 10:28

    Sanjay Dutt is of the opinion that overall market sentiments on steel sector is subdued. He suggests exiting steel sector at every rise.

  • Only buyers in Vindhya Telelink, stock up

    3rd June, 2005 10:24

    Vindhya Telelink is trading with volumes of 14,430 shares. There were pending buy orders of 19,326 shares, with no sellers available.

  • Markets flat: RIL, oil, bank & pharma up

    3rd June, 2005 10:17

    The markets have opened on a flat note. Weakness is seen in the metal stocks but buying is seen in oil, pharma, and select banking shares.

  • Nifty 2045 level crucial: Pujara

    3rd June, 2005 10:17

    Kashyap Pujara of Sushil Finance feels that 2045 levels are crucial for the Nifty.

  • Retire the taxman: a hands-on approach

    3rd June, 2005 10:08

    Paying tax has never been a really palatable thing for anyone. While you might not mind paying tax while you are actively earning, it can be a little painful if yo

  • Mutual Funds on fast track to efficiency

    3rd June, 2005 10:04

    Mutual funds are adopting new cost cutting measures and offering technology based value adds, that should leave investors not only happier, but also marginally ric

  • F&O strategy on Alok Textile

    3rd June, 2005 09:46

    F&O strategy on Alok Textile by IL&FS Investsmart

  • BEML board approves public issue

    3rd June, 2005 09:41

    BEML board has approved the public issue of 72 lakh shares through the book-building process. The company hopes to raise Rs 400-450 crore through a public issue.

  • F&O cues: Nifty Futures discount at 26 pts

    3rd June, 2005 09:35

    F&O cues: Nifty Futures continue to remain at a steep discount of 26 points; Volumes remain low in the F&O segment.

  • Flood free monsoon for Mumbai: BMC

    3rd June, 2005 09:25

    This monsoon could be flood free for Mumbai, as is being claimed by the BMC. The corporation is spending Rs 20 crores on pre- monsoon preparations.

  • Equity NAVs ease; Pharma continues to gain

    3rd June, 2005 09:24

    NAVs of most of the equity mutual funds eased yesterday however, pharma funds registered gains despite the BSE Healthcare index losing ground.

  • EU jitters may mean death knell for euro

    3rd June, 2005 09:22

    German Finance Minister Hans Eichel and the Bundesbank President Axel Weber met last week to discuss inflation and growth gaps in the euro zone that may lead to th

  • Growth in Indian software highest since 2001

    3rd June, 2005 09:19

    There has been good news from the IT sector, growth in Indian software and services exports this fiscal was the highest since 2001.

  • Equity calls: Malkani, Choudhury, Mohindar

    3rd June, 2005 09:11

    The outlook for the markets is broadly positive with the Nifty Futures expected to gain support around the 2020 level, says Mohindar.

  • Crude prices ease as US supplies go up

    3rd June, 2005 09:08

    Crude oil is trading at $53.58 per barrel, after US Energy Department report indicated that US refineries have boosted suplies.

  • Asian mkts firm; Taiwan Weighted up 1.19%

    3rd June, 2005 08:59

    Asian markets are trading firm. Japan's Nikkei average is flat amid profit taking on recent gainers. The Taiwan Weighted is up 1.19% at 6,111.19.

  • Wall Street ends with modest gains

    3rd June, 2005 08:44

    Wall Street ended with a modest gain yesterday as investors, faced with a muddled view of the economy, held off on any large bets before the government's upcoming

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