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Moneycontrol News Archive : 16 May, 2005

  • ITC allowed to sell its Candyman eclairs

    16th May, 2005 20:40

    The Ahmedabad city civil and sessions court today issued an order allowing ITC to sell its candyman choco eclairs in the market.

  • No repeat of 300-point rally: Kothari

    16th May, 2005 16:53

    The strength in the front liners has taken the market by surprise, and the biggest buttress to the market has been Infosys, feels Mihir Kothari, market analyst. Au

  • F&O trims discount, volumes remain low

    16th May, 2005 16:37

    The F&O side continues to see low turnover, and the discount on Nifty futures has come down to around 9.6 levels. The top trades of the day were Infosys, Arvind Mi

  • When policies are not the Real McCoy

    16th May, 2005 16:30

    You've been paying your premiums as regularly as clockwork and at crunch time, you realise, the policy was a forgery. So to avoid this scenario, buy policies more

  • Stocks to watch: Bombay Dyeing, HCL, Satyam

    16th May, 2005 16:26

    Analyst discusses textile, tech and capital good stocks for tomorrow.

  • Nifty ends above 2000, Sensex breaches 6500

    16th May, 2005 16:14

    The markets strengthened today as the Sensex crossed the psychological 6500 mark and the Nifty rallied past 2000. Action was seen in several mid-cap and small-cap

  • Infosys can reach Rs 2330, says Gaba

    16th May, 2005 15:49

    Prakash Gaba is of the opinion that Infosys Technologies is a positive looking stock even for short term. It can touch the target of Rs 2330 which it had failed to

  • Nagarjuna Construction Q4 net at Rs 23.6cr

    16th May, 2005 15:17

    Nagarjuna Construction Q4 net profit is at Rs 23.6 crore, while its Q4 sales are at Rs 452.25 crore.

  • Invest in Saksoft after 1-2 quarters: Dutt

    16th May, 2005 15:04

    Sanjay Dutt feels that it is too early to comment of fundamentals and technicals of Saksoft. Investors must wait for one to two quarters before investing in it.

  • Buy Rolta at Rs 90 levels: Experts

    16th May, 2005 14:51

    Sanjay Dutt is of the opinion that fundamentally Saksoft looks good. Investors must buy it at declines at around Rs 96 levels.

  • 20-30% rise seen in EPS: Abhishek Industries

    16th May, 2005 14:26

    Rajinder Gupta of Abhishek Industries says that the company's EPS with the 15-month year ended in March 2005 is about Rs 2.19. He expects 20-30% rise in EPS in the

  • Investors should avoid Bayer Cropscience

    16th May, 2005 14:11

    Sandeep Shenoy feels that Bayer Cropscience is a volatile company. It's not meant for common investor.

  • Recast duties to lower oil impact: Left

    16th May, 2005 13:46

    Left parties today vehemently opposed any increase in petrol and diesel prices and instead asked the government to restructure duties. Petroleum Minister Mani Shan

  • Results out, Rallis India falls

    16th May, 2005 12:58

    Rallis India Q4 net sales is down 11.3% to Rs 97.50 crore. At 12:41 pm the share is quoting at Rs 266.95, down Rs 17.55, or 6.17%.

  • Tata Infotech touches a 52-week high

    16th May, 2005 12:39

    Tata Infotech has touched a 52-week high of Rs 608.50. At 12:27 pm the share is quoting at Rs 595.25, up Rs 33.40, or 5.94%.

  • Secular up trend to continue: Dawnay Day

    16th May, 2005 12:28

    Strength of growth, lowering volatility of GDP and movement of more human resources into the economy are signs that there is little that could push it downward.

  • HPCL can touch Rs 370, says Manghnani

    16th May, 2005 12:11

    If the investors show some patience in HPCL, it can touch up to Rs 370, says Anil Manghnani.

  • Tech, steel look soft; auto is good: Mehra

    16th May, 2005 12:02

    Devina Mehra of First Global lays emphasis on being sure about what sector to play first, and then choosing a company. Pharma and autos look good.

  • Ranged Sensex to bottom out at 6050: Mehra

    16th May, 2005 11:53

    Devina Mehra of First Global says the markets will be ranged and will bottom out at 6050 levels. The midcaps look strained, but the large caps are doing better.

  • Target for NEPC India is Rs 42: Manghnani

    16th May, 2005 11:47

    Anil Manghnani feels that NEPC India is going through a good trend. For long term, investors must keep a trade target of Rs 42 in it.

  • Merck is rangebound, book profits in it

    16th May, 2005 11:31

    Anil Manghnani is of the view that Merck is rangebound at the moment. The investors must book profits if it reaches Rs 23-25 levels.

  • Markets firm: Auto, tech & oil gain

    16th May, 2005 11:28

    The markets are trading firm amid buying in auto, technology, oil, metal, FMCG, cement, telecom, capital goods and banking stocks.

  • Tata Motors Q4FY05 net sales seen up 21.6%

    16th May, 2005 11:11

    FY05 net sales for the company is up 29.5% to Rs 17122.6 crore (Rs 171.226 million) from Rs 13223.2 crore (Rs 132.232 million).

  • MSK Projects touches a 52-week high

    16th May, 2005 11:02

    MSK Projects has touched a 52-week high of Rs 72.70. At 10:55 am the share is quoting at Rs 71.40, up Rs 6.05, or 9.26%.

  • IVRCL bags Rs 393cr orders from NHAI

    16th May, 2005 10:52

    IVRCL Infrastructures and Projects has secured orders from NHAI, aggregating to about Rs 393 crore.

  • Shanthi Gears among major losers

    16th May, 2005 10:35

    Shanti Gears results were out on Saturday. It's Q4 net profit has declined to Rs 4.17 crore. At 10:25 am the share is quoting at Rs 51, down Rs 6.60, or 11.46%.

  • Multi-Arc India hits a 52-week high

    16th May, 2005 10:28

    Multi-Arc India has touched a 52-week high of Rs 27. At 10:17 am the share is quoting at Rs 26.50, up Rs 4, or 17.78%.

  • 33.66% is lesser than 14.025%

    16th May, 2005 10:22

    The general misconception is that there is no advantage in earning short-term gain since it is taxed at the normal rates. However, that may not always be true, say

  • Accumulate Punjab Tractors at Rs 164

    16th May, 2005 10:15

    Punjab Tractors is on a medium downtrend, says Anil Manghnani. He suggests accumulating the stock once it reaches Rs 164 levels.

  • US puts cap on Chinese apparel imports

    16th May, 2005 09:52

    The US government has decided to impose safeguards on China to curb a flood of apparel imports from the dragon. China says, the US move violates WTO agreements.

  • Blackstone Group to invest $ 1bn in India

    16th May, 2005 09:46

    Top US-based private equity firm Blackstone Group is to invest US $ 1 billion in India. Blackstone manages private equity investment of over billion worldwide

  • Bangladesh in talks with Tata on $ 2bn deal

    16th May, 2005 09:40

    Bangladesh's Energy Ministry will begin talks with the Tata Group by the end of this month on the group's proposed $2 billion investment in the country.

  • Large brokerages expand in Andhra Pradesh

    16th May, 2005 09:29

    Giants, like Motilal Oswal and Fortis Securities, are aggressively expanding into Andhra Pradesh. They are hoping to tap into the rising investable incomes of farm

  • Stocks in news: Reliance, Hindalco, Dabur

    16th May, 2005 09:16

    Stocks in news: Reliance, Hindalco, Dabur, Adlabs Films, Rallis India, ONGC Videsh, and Satnam Overseas.

  • F&O cues:Nifty Put-Call ratio rises to 1.32

    16th May, 2005 09:04

    Nifty Put-Call ratio rises to 1.32 from 1.26; NSE F&O volumes at 8-month low of Rs 5,724 crore

  • Zenta BPO sells 80% stake to GTCR

    16th May, 2005 09:01

    US firm GTCR has bought 80% of the Hiranandani Group's BPO Zenta for $80 million. GTCR will invest a further $20 million dollars, which will be used for ac

  • Cabinet reshuffle expected tomorrow

    16th May, 2005 09:00

    Civil Aviation Minister Praful Patel may get a cabinet rank; Home Minister Shivraj Patil and Human Resources Development Minister Arjun Singh may get the axe.

  • Gold prices likely to move down

    16th May, 2005 08:56

    Gold looks bearish today, and is likely to move down to $418 per oz level, says Gnansekar.

  • Money calls: Mody, Thanawala

    16th May, 2005 08:51

    The bond market will witness a small consolidation, while waiting for tomorrow's auction results, says Mody.

  • Equity calls: Gujral, Malkani, Mutha

    16th May, 2005 08:48

    The Nifty will remain rangebound between 1,970 and 2,010. Unless it breaks out of this range, the market might fall under its own weight, says Gujral.

  • Rupee ends low against the dollar

    16th May, 2005 18:20

    The rupee ended lower against the dollar on the U.S. currency's strength in overseas markets.

  • 100% growth seen ahead: Ashapura Minechem

    16th May, 2005 16:44

    Chetan Shah, MD, Ashapura Minechem expects 100% growth as compared to 2004 results with an EPS between Rs 45-50.

  • SBI Life Insurance grows 166% in FY05

    16th May, 2005 16:30

    SBI Life Insurance Company now covers more than 29 lakh lives.

  • KRBL margins to gain with Wal-Mart entry

    16th May, 2005 16:28

    KRBL expects to increase its domestic business if Wal-Mart makes its entry. The company already has a contract in the US market with the giant retailchain.

  • Asian markets close lower

    16th May, 2005 16:16

    Asian markets closed lower. Japan's Nikkei Average fell 0.9% to 10,947.22, for a six-day, 2.2% drop.

  • Teva hires DS Brar as consultant: Sources

    16th May, 2005 16:14

    Israel based Teva is learnt to have appointed ex-Ranbaxy CEO Davinder Singh Brar as its consultant for its Indian operations. Teva has been making news for an immi

  • Tata Motors looks positive, say experts

    16th May, 2005 15:23

    Sanjay Dutt feels that decline in input prices of steel and oil are in favour of Tata Motors. The company will deliver.

  • Equitymaster bullish on midcaps

    16th May, 2005 15:09

    There is a lot of scope for midcaps to become large caps, in fact, midcaps may be a bigger story than large caps, feels market analyst Sonam Udasi. Steel is a litt

  • Auctions to determine bond market trend

    16th May, 2005 14:58

    According to analysts the bond market is playing it auction by auction and there is not much of a burden on the market.

  • Only buyers in Universal Cables, stock up

    16th May, 2005 14:27

    Universal Cable has touched a 52-week high of Rs 59.80. At 2:17 pm the share is quoting at Rs 59.80, up Rs 9.95, or 19.96%.

  • Be wary of midcap stocks, says Oza

    16th May, 2005 14:23

    Nihar Oza feels that though he is positive on stocks from midcap sector. He maintains that at these levels investors must be wary of them.

  • Yuan appreciation in 6-9 mths: JM Morgan

    16th May, 2005 13:57

    JM Morgan Stanley Economist, Chetan Ahya feels that the Yuan appreciation will take another 6-9 months to come through.

  • Exit Alok Industries at Rs 69 levels: Expert

    16th May, 2005 13:10

    Anil Manghnani is of the view that since past six months, Alok Industries has been rangebound between Rs 60-69. Investors must exit at Rs 65-69 levels.

  • Only buyers in Carnation Nutra, stock up

    16th May, 2005 12:45

    Carnation Nutra Analogue Foods has touched a 52-week high of Rs 110.90. At 12:31 pm the share is quoting at Rs 110.90, up Rs 18.45, or 19.96%.

  • Kirloskar Pneumatic among gainers

    16th May, 2005 12:32

    Kirloskar Pneumatic Company has touched an intraday high of Rs 146 and an intraday low of Rs 134. At 12:23 pm the share is quoting at Rs 145, up Rs 10.30, or 7.65%

  • Nalco looks weak, says Manghnani

    16th May, 2005 12:14

    Anil Manghnani is of the opinion that Nalco is looking weak. Its 200 days moving average is also at lower value. It's a sell at every rise.

  • Gujarat Heavy Chemicals can hit Rs 59

    16th May, 2005 12:07

    Anil Manghnani is of the view that investors must hold Gujarat Heavy Chemicals. In short term it can go up to Rs 59.

  • Keep stoploss of Rs 43 in NRC: Manghnani

    16th May, 2005 11:54

    Anil Manghnani is of the view that NRC has become weak for short term. He suggest keeping a stoploss of Rs 43 in it and re-entering at lower levels.

  • Aiyar to meet FM, Left on oil price hike

    16th May, 2005 11:52

    The meeting will also be discussing the restructuring of oil companies. Oil companies, both state-owned and private, have been crying themselves hoarse for the cen

  • Rolta India up on large volumes

    16th May, 2005 11:38

    Rolta India has touched a 52-week high of Rs 112. At 11:25 am the share is quoting at Rs 109.55, up Rs 6.60, or 6.41%.

  • Sugar price outlook firm: Balrampur Chini

    16th May, 2005 11:29

    Outlook for sugar prices and the sugar industry are stable to firm. The proposed expansion plan for the sugar mill is also under way.

  • Invinex Laboratories flares up

    16th May, 2005 11:26

    Invinex Laboratories has touched an intraday high of Rs 22.80 and an intraday low of Rs 20.85. At 11:13 am the share is quoting at Rs 21.90, up Rs 1.35, or 6.57%.

  • Nagarjuna FY05 net seen up 59.3%

    16th May, 2005 11:10

    A CNBC-TV18 poll sees Nagarjuna Constructions FY05 net profit to climb 59.3% from Rs 31.57 crore to Rs 50.3 crore. FY05 net sales is expected to climb 43.95% from

  • Ajanta Pharma up on large volumes

    16th May, 2005 10:56

    Ajanta Pharma has touched a 52-week high of Rs 85. At 10:45 am the share is quoting at Rs 83.40, up Rs 8.50, or 11.35%.

  • VXL Instruments flares up

    16th May, 2005 10:49

    VXL Instruments has touched an intraday high of Rs 63 and an intraday low of Rs 61. At 10:37 am the share is quoting at Rs 63 up Rs 3.25, or 5.44%.

  • Taxation Bill rings in some more changes

    16th May, 2005 10:35

    The most awaited taxation amendments usually happen through the Finance Bill. But this year, the Taxation Laws Amendment bill slipped in a lot of changes, post Fin

  • UP Sugar Policy a success: Amar Singh

    16th May, 2005 10:27

    Rajya Sabha MP, Amar Singh says, the UP sugar policy has been extremely successful, but the import of raw sugar is a cause for concern.

  • Only buyers in Chemplast Sanmar, stock up

    16th May, 2005 10:20

    Chemplast Sanmar has touched a 52-week high of Rs 73.30. At 10:13 am the share is quoting at Rs 73.30, up Rs 12.20, or 19.97%.

  • Exit Mahindra & Mahindra at Rs 485:Manghnani

    16th May, 2005 10:12

    Anil Manghnani is of the view that Mahindra and Mahindra looks weak in long term. The investors should exit it at Rs 485-500.

  • Temasek arm, Sabre Capital in MF tie-up

    16th May, 2005 09:49

    An arm of Temasek Holdings is joining hands with Sabre Capital to float a mutual fund in India.

  • Markets firm: NSE Midcap 200 at new high

    16th May, 2005 09:44

    The market has opened on a firm note. Heavyweights are subdued but several midcap stocks have gained. The NSE Midcap 200 Index has touched a new high crossing its

  • Sundram Fasteners amalgamates German JV

    16th May, 2005 09:32

    The company's joint venture with German firm Bleistahl Produktions GmbH, called Sundram Bleistahl, has become a Sundram Fasteners subsidiary.

  • Air India resumes Canadian flight service

    16th May, 2005 09:18

    Air India restarted its services from Toronto to India yesterday, after the bombing of its passenger airliner Kanishka two decades ago.

  • MTNL set for major capex, value-adds ahead

    16th May, 2005 09:16

    MTNL has agressive targets set ahead. It plans a capacity addition of 40 lakh in GSM by 2006, and should be offering 3G services with audio and video on its phones

  • Market cues: FIIs net sell $10.20 mn on Thur

    16th May, 2005 09:02

    FIIs net sell $10.20 million and MFs net buy Rs 162.65 crore on Thursday.

  • Rupee down, trading hours extended

    16th May, 2005 09:00

    The rupee opened weak to the dollar on sustained dollar buying and gains overseas.

  • Asian markets trading lower; Nikkei down

    16th May, 2005 08:58

    Asian markets are trading lower. Tokyo’s Nikkei average is down 0.16%, as concern about the country's economic outlook curbed investors' appetite ahead of GDP data

  • F&O Strategy on Bharat Forge, M&M

    16th May, 2005 08:53

    F&O Strategy on Bharat Forge and M&M by KR Choksey.

  • Crude rebounds from 12-week low

    16th May, 2005 08:48

    Crude oil prices rebounded from a 12-week low of US $47.75/bbl, as speculators who had earlier sold contracts bought them back.

  • Brokers bullish on Tisco, PNB, ACC, SBI

    16th May, 2005 08:18

    Brokers are bullish on Tisco, PNB, ACC, Canara Bank, Bharti Tele Ventures, SBI, ICICI Bank, UTI Bank, HDFC Bank, Union Bank, and Jindal Vijaynagar Steel.

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