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Moneycontrol News Archive : 16 March, 2005

  • Crude eases as OPEC announces supply hike

    16th March, 2005 18:23

    Oil prices fell as OPEC oil producers said they would boost supplies by 2% in an effort to cool the red-hot market.

  • Stay with good top line companies: Choksey

    16th March, 2005 17:17

    Markets ended flat on very low volumes. Choksey feels there is a need to worry only if Nifty breaks below 2100 level; else it is likely to remain range bound betwe

  • Markets end on a flat note

    16th March, 2005 16:58

    Markets ended flat on very low volumes after volatile trade. Losses were seen in auto, pharma, technology, cement, telecom and consumer good stocks. However, bank,

  • Steel prices to rise: National Steel

    16th March, 2005 16:19

    According to S Shahra, MD, National Steel and Agro Industries there will be an increase in cold-rolled steel and galvanised steel prices.

  • Analyst bullish on Tisco, Sail, Linc Pens

    16th March, 2005 15:55

    Technical analyst E Mathew is bullish on Tisco, Sail, Sathavahana Ispat, Andhra Bank, Andhra Sugar, and Link Pens. He prefers Ceat to MRF.

  • Book some profit in Jet Airways: Shah

    16th March, 2005 15:50

    Jigar Shah is of the view that investors should book some profit in Jet Airways.

  • Tata Chemicals, GSFC good for long term

    16th March, 2005 15:36

    Jigar Shah is of the view that Tata Chemicals and GSFC are good long term investment stocks.

  • No concerns about 80 point dip: Pru ICICI

    16th March, 2005 15:32

    The markets are consolidating and the Sensex may dip 80 points, but analysts say that fund flows will remain intact. Integrated steel companies will perform well,

  • Markets volatile: Pharma, Tech weak

    16th March, 2005 15:19

    The markets are looking volatile. Weakness is seen in auto, pharma, technology, oil and gas, and consumer goods stocks. However, firmness is seen in most of the ba

  • F&O turnover low at Rs 6500 crore

    16th March, 2005 14:56

    Top traded futures were Nifty, Tata Steel, Andhra Bank, SBI and Satyam. Satyam, SBI and Tata Steel added open interest.

  • SAL Steel hits a 52-week high

    16th March, 2005 14:42

    SAL Steel has touched a 52-week high of Rs 23.70. Huge volumes of over 47 lakh shares have been traded on the BSE so far.

  • TTK Healthcare moves up

    16th March, 2005 14:00

    TTK Healthcare has gained 5.05% at Rs 53.05. It is trading with volumes of 36,375 shares.

  • No preferential allotment plan: Electrosteel

    16th March, 2005 13:51

    S Y Rajagopalan of Electrosteel Casting says that the company has no plans to come out with a preferential allotment.

  • Markets firm: Weakness in pharma, auto

    16th March, 2005 13:50

    The markets are again trading firm after slipping into the red. However, weakness is seen in pharma, auto, oil and gas and select technology stocks.

  • Buy IPCL at Rs 170, says Bhambwani

    16th March, 2005 13:02

    Vijay Bhambwani is of the view that investors can buy IPCL if it dips to Rs 170.

  • Stoploss of Rs 555 advised in RIL: Expert

    16th March, 2005 12:40

    Vijay Bhambwani is of the view that investors should hold Reliance Industries with a stoploss of Rs 555.

  • Crew BOS plans GDR issue

    16th March, 2005 12:34

    Tarun Oberoi, MD of Crew BOS says that due diligence is on to decide which is the best instrument to fund the company's expansion, but at this moment it seems

  • Hold Glenmark with stoploss of Rs 265

    16th March, 2005 12:19

    Vijay Bhambwani is of the view that investors can hold Glenmark. However, a stoploss of Rs 265 is advised.

  • Markets may see a pull back: Kapoor

    16th March, 2005 12:13

    According to Vibhav Kapoor of IL&FS, markets might see a pull back from here and might be range bound for some time.

  • Stay invested in Neyveli Lignite: Bhambwani

    16th March, 2005 11:53

    Vijay Bhambwani is of the view that investors should stay invested in Neyveli Lignite.

  • F&O data suggests oversold markets

    16th March, 2005 11:35

    F&O data suggests that the market is oversold at current levels, and Yuvraj Sehgal of REFCO-Sify Securities advises investors to take contrarian buy positions at 2

  • Crude eases by 40 cents to $54.65/bbl

    16th March, 2005 11:23

    OPEC is likely to support increase in production by 1.9%. However, an increase in production by 1.9% is not enough to meet demand.

  • Sakhalin-I production seen from 05-06: Aiyar

    16th March, 2005 11:15

    Petroleum Mininster Mani Shankar Aiyar has informed the Rajya Sabha that production of oil and gas from Sakhalin-I is expected to commence from 2005-06 and full pr

  • Deora returns RIL shares after scare

    16th March, 2005 10:49

    Reliance Infocomm insists that Ashish Deora and his three companies do not hold any shares of Reliance Infocomm. This has happened just four days after Deora's com

  • McDowell spurts on huge volumes

    16th March, 2005 10:32

    McDowell has spurted 3.53% at Rs 230.35. Its 100% subsidiary Phipson Distilleries has picked 49% in Herbertsons for Rs 131 crore.

  • Investors contest floor price of Malco offer

    16th March, 2005 10:26

    Twin star has made an open offer of 20% of Malco, through reverse book-building, which opened on Monday. Some small investors are contesting the floor price of the

  • Brokers bullish on Sesa Goa, ABB, Bajaj Auto

    16th March, 2005 10:24

    Brokerage houses are bullish on Sesa Goa, Bajaj Auto, ABB, Crompton Greaves, KEC International and bearish on Dr Reddy's, Biocon, Novartis

  • Godrej hopes heath food foray is profitable

    16th March, 2005 10:17

    Godrej Foods is turning to juices, nectars, cereals and other health food products, in a bid to revive its sagging bottomline.

  • Market opens on a positive note

    16th March, 2005 10:13

    The market has opened on a positive note following buying interest in steel, sugar, tyre, bank and select auto stocks.

  • Bernie Ebbers found guilty

    16th March, 2005 09:42

    Jury finds former CEO Bernie Ebbers guilty in connection with multi-billion dollar accounting scandal, collapse of Worldcom.

  • Stocks in news: UTI Bank, L&T, Maruti, IFCI

    16th March, 2005 09:35

    Stocks in news: UTI Bank, L&T, Maruti, IFCI, McDowell, UTV

  • Market cues: Crude shoots up to $55.45

    16th March, 2005 09:18

    Market cues: Crude shoots up to $55.45 per bbl.

  • Money Calls: Anand, Sharma

    16th March, 2005 09:05

    The bond market is expected to experience a mild downward bias, says Anand.

  • US stocks down on inflation worries

    16th March, 2005 08:42

    Investors sent US stocks lower on inflation worries and a gloomy outlook on semiconductor stocks. All three major indicies finished at or near their lows for the s

  • Ray-Ban hopes for 15% growth on new launches

    16th March, 2005 18:16

    Ray-Ban India has launched its collection for 2005 and hopes for 15% growth.

  • Rupee ends weak on dollar purchases

    16th March, 2005 17:00

    Rupee ended weak against the US dollar on consistent dollar purchases by some foreign banks on anticipation of a big FII outflow in the next few days. Bonds ended

  • F&O turnover continues to be sluggish

    16th March, 2005 16:50

    FII open interest in F&O was at an all-time high of Rs 10747 crore, as limited activity in frontline stocks kept market ranges limited. Total turnover continued

  • Crude prices effecting margins: Nerolac

    16th March, 2005 16:00

    High crude prices are effecting margins of paint companies and Goodlass Nerolac Paints hopes to sustain margins of 15% in the future.

  • Essar Shipping gains on huge volumes

    16th March, 2005 15:52

    Essar Shipping has surged up 8.90% on good buying interest, with volumes of over 44 lakh shares on the BSE.

  • Supreme Petro touches a 52-week high

    16th March, 2005 15:42

    Supreme Petro has touched a 52-week high of Rs 35.30. It is trading with volumes of 34,41,450 shares.

  • Yes Bank plans public issue

    16th March, 2005 15:34

    Yes Bank has filed a red herring prospectus with Sebi for its upcoming IPO. The issue includes 7 crore equity shares, whose price will be decided through book buil

  • Musharraf to visit India in April

    16th March, 2005 15:29

    Pakistan President, Pervez Musharraf is all set to visit India in April to attend a cricket match between India and Pakistan.

  • MSK Projects accepts jobs worth Rs 100cr

    16th March, 2005 15:16

    With the government's thrust on irrigation development, infrastructure companies focusing on this segment are set to benefit greatly. MSK Projects, as a prospectiv

  • Hold Crompton Greaves, says Shah

    16th March, 2005 14:45

    Jigar Shah is of the view that investors should hold Crompton Greaves for more than six months for some good appreciation.

  • Exit HLL if it touches Rs 155-160: Bhambwani

    16th March, 2005 14:29

    Vijay Bhambwani is of the view that investors should exit HLL if it touches Rs 155-160.

  • Refco-Sify sees margin shrinkage in auto

    16th March, 2005 13:55

    Anish Damania, Head of Research, Refco-Sify Securities, is of the view that auto margins are likely to take a hit in the medium term. The margin pressures are due

  • Kirloskar Ferrous makes smart gains

    16th March, 2005 13:50

    Kirloskar Ferrous has moved up 13.65% at Rs 35.80. It is trading with volumes of over 28 lakh shares on the BSE.

  • Watch their moves, on cellphones & the ramp

    16th March, 2005 13:27

    Young and raring to go places. Both Nitish Mittersain and Rajvi Mohan have set out to carve out a niche for themselves - one as a mobile content developer and the

  • Finalising new Oil Pricing Policy: Aiyar

    16th March, 2005 13:00

    Petroleum Minister Mani Shankar Aiyar has said that the new Oil Pricing Policy is likely to be finalised today and has ruled out an immediate hike in oil product p

  • Saudi wants oil price between $40-50

    16th March, 2005 12:38

    Saudi Arabian Oil minister, Ali Naimi, has said that oil prices should be between -50 a barrel to protect global economic growth and that the current level of is

  • FDA comes down on J&J, probes 7-8 firms

    16th March, 2005 12:22

    The Maharashtra FDA has issued a notice to Johnson & Johnson regarding the use of the word `baby' on the labels of its products and is investigating 7-8 o

  • Orchid Chemicals in pact with STADA

    16th March, 2005 12:16

    Orchid Chemicals has tied up with STADA Pharma of the United States to make six generic drugs for the US market.

  • US concerned on Indo-Iran gas pipeline

    16th March, 2005 11:57

    US Secretary of State, Condoleeza Rice has said that the United States, US, is concerned on the India-Iran gas pipeline. Rice also said that India has raised conce

  • No change in margins in short term: M&M

    16th March, 2005 11:46

    Pawan Goenka, COO, M&M, says that the price hike in the auto sector is due to Euro III norms and the steel price hike. He says that there will be no change in marg

  • Pearl Global locked at 5% upper circuit

    16th March, 2005 11:26

    Pearl Global is locked on the 5% upper circuit. There were pending buy orders of 8,320 shares, with no sellers available.

  • Markets firm: Sensex crosses 6800

    16th March, 2005 11:19

    The markets have gained on the back of good buying interest across the board. Most of the auto, banking, FMCG, pharma, technology, metal and oil and gas stocks are

  • Ceat gains ground

    16th March, 2005 11:14

    Ceat has geared up 4.08% at Rs 101.95 on fresh buying interest. Huge volumes of over 3 lakh shares have been traded on the BSE so far.

  • Duty drawback hurts exporters by Rs 325cr

    16th March, 2005 10:46

    Garment exports became quota free from January, but the apparel export promotion says the party has been spoilt even before it begun.

  • Golden Quadrilateral delayed by 6 months

    16th March, 2005 10:30

    The Golden Quadrilateral project has overshot its deadline by six months, and even then, it will not be all complete. The bigger worry is that the North-South-East

  • Tata Infotech moves higher

    16th March, 2005 10:25

    Tata Infotech has gained 10.24% at Rs 472. It is trading with volumes of 36,874 shares.

  • Condoleeza Rice arrives in New Delhi

    16th March, 2005 10:21

    US Secretary of State, Condoleeza Rice arrived in New Delhi last night and is expected to bring up the Indo-Pak peace process and the situation in Nepal.

  • Rupee likely to weaken against the US dollar

    16th March, 2005 10:16

    The rupee is likely to weaken against the US dollar after the greenback rose against global currencies following a surge in the US foreign capital inflows data.

  • Asian markets weak, Nikkei down

    16th March, 2005 09:46

    Asian stock markets are looking weak following negative cues from Wall Street overnight.

  • UTI Bank raises $239.3mn in GDR offering

    16th March, 2005 09:38

    UTI Bank has raised $239.3 million in its GDR offering. The bank has priced each GDR at $5.91. The GDR starts trading on the LSE today.

  • F&O Cues: Turnover low at Rs 12,592 crore

    16th March, 2005 09:27

    NSE F&O Cues: Turnover low at about Rs 12,592 crore.

  • Gold looks bullish, says Narne

    16th March, 2005 09:12

    The gold is looking bullish. One can buy the gold with target of Rs 6,390 in the long term, says Narne.

  • Equity Calls: Baliga, Choudhury, Bhambwani

    16th March, 2005 08:53

    The market is likely to stabilise at these levels, after which there would be a bounce back and consolidation, says Baliga.

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