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Moneycontrol News Archive : 26 May, 2005

  • Indraprastha Gas plans Rs 100cr capex

    26th May, 2005 18:07

    The capex requirements would be more than Rs 100 crore. The company may take on additional capital to fund capex as and when required.

  • Is Swift the car for you?

    26th May, 2005 17:15

    If you are young - young at heart - and want to be seen driving a set of wheels that spell C-O-O-L, here's the car for you.

  • OBC targets Rs 1 lakh cr business this year

    26th May, 2005 16:56

    In March, the total business of the Oriental Bank of Commerce (OBC), crossed Rs 75000 crores. During the current fiscal the bank is planning to cross Rs 1 lakh cro

  • Markets look rosy on domestic buys: Malkani

    26th May, 2005 16:42

    Jagdish Malkani, member of the National Stock Exchange, says that the market looks buoyant at the moment. There have been good domestic buys, though some FIIs have

  • CBT to decide EPF interest rate on Saturday

    26th May, 2005 16:40

    A special meeting of the Central Board of Trustees, CBT, of the Employees Provident Fund ,EPF, will be held in New Delhi, on Saturday, to recommend the final rate

  • F&O sees highest volumes in the series

    26th May, 2005 16:36

    On the F&O side, volumes were the highest for the series with a turnover of about Rs 16,881 crore.

  • Eco Intelligence sees India slowdown

    26th May, 2005 16:25

    Tom Joehnk of the Economist Intelligence Unit, tells Moneycontrol.com that the business cycle will soon reach its peak and a slowdown is imminent, unless labour re

  • Asian markets close higher

    26th May, 2005 16:00

    Asian markets closed higher. Japan's Nikkei average closed up 0.12% today as some technology stocks remained firm.

  • Hold Tisco for long term, says Gaba

    26th May, 2005 15:47

    Prakash Gaba is of the view that short term structure of Tisco is weak but a good stock to hold for long term.

  • UCO Bank launches inbound money transfer

    26th May, 2005 15:45

    UCO Bank today launched inbound money transfer services across the country in a tie-up with Western Union, an international leader in providing the facility.

  • BHEL to continue to remain Govt firm: FM

    26th May, 2005 15:28

    The FM has said that BHEL will continue to remain a government company, even after the Cabinet approved divestment of the government's 10% stake in the company. Ta

  • BHEL issue to be at 10-15% discount: Kumar

    26th May, 2005 15:11

    With the government preparing to divest 10% of its stake in Bhel, Ashok Kumar of Lotus Knowlwealth says that the issue could bear a discount of around 10-15%. He a

  • OBC Q4 net up 4% at Rs 237.70cr

    26th May, 2005 15:07

    OBC has announced its results. The bank's Q4 net is up 4% at Rs 237.70 crore from Rs 228.68 crore. Its board has declared a dividend of 30%.

  • Tata Chem will rise in the next two weeks

    26th May, 2005 14:57

    Dharmen Mehta is of the opinion that Tata Chemicals can touch Rs 187-190 in next two weeks. He suggests staying invested in it.

  • Bharati Shipyard may touch Rs 180-185 levels

    26th May, 2005 14:50

    Dharmen Mehta is of the opinion that on the news of bagging good orders, Bharati Shipyard has moved up. It may reach up to a level of Rs 185 by next week.

  • Godavari Fertilisers on turnaround path

    26th May, 2005 14:38

    Godavari Fertilisers announced a dividend of 10% nearly 10 years back. This year the company is aiming to move up its production by 10%, said Director and Presiden

  • Allahabad Bank to show growth in long term

    26th May, 2005 14:20

    According to Sandeep Shenoy of Pioneer Intermidiaries, Allahabad Bank will show good growth in the long term.

  • Markets firm: Capital goods & FMCG in demand

    26th May, 2005 14:14

    The markets are trading firm amid gains in capital goods, FMCG, pharma, technology and auto stocks. But banking, oil and select metal stocks have lost the ground.

  • Traders must exit Dabur Pharma at Rs 46

    26th May, 2005 13:41

    Vijay Bhambwani feels that traders must keep a stoploss of Rs 46 in Dabur Pharma. If it falls, it will fall drastically.

  • Labours laws, infrastructure hampers exports

    26th May, 2005 13:14

    Sudhir Dhingra of Orient Croft believes that the prevailing infrastructure and labour laws in India are hampering export growth in the textile industry.

  • Gail is witnessing uptrend, says Bhambwani

    26th May, 2005 12:51

    Vijay Bhambwani feels that Gail at present is a market outperformer and is witnessing an uptrend.

  • Petronet LNG has tremendous potential: Jain

    26th May, 2005 12:35

    According to Rajesh Jain of Pranav Securities, only devoted and committed investors should venture into Petronet LNG. He also said that to get good returns from it

  • HDFC to give excellent return in two years

    26th May, 2005 12:23

    Vijay Bhambwani feels that HDFC will give excellent results within two years. This stock will outperform the markets.

  • Invest in Maruti on declines, says Jain

    26th May, 2005 12:14

    Rajesh Jain of Pranav Securities suggests investing in Maruti on declines. He feels the market will give some gains after the F&O settlement is over.

  • Tata Chemical spurts on large volumes

    26th May, 2005 12:10

    Tata Chemicals is trading with volumes of 8,46,486 shares. At 12:01 pm the share is quoting at Rs 174.30, up Rs 8.70, or 5.25%.

  • Oil prices not a threat to FII flows: Preiss

    26th May, 2005 11:54

    Michael Preiss of Coutts Bank says, oil prices are likely to remain above $51 per barrel, but with rising US interest rates and the dollar to weaken, FII flows

  • Cabinet okays 10% stake sale in BHEL

    26th May, 2005 11:33

    The Cabinet has okayed the divestment of 10% stake in BHEL. The government owns 67.7% stake in BHEL and is expected to rake in Rs 2,100 crore through the stake sal

  • Stay invested in the market: Dhawan

    26th May, 2005 11:27

    It is still a traders market and investors have to be a bit more cautious because it is showing some volatility, feels Sajiv Dhawan. It is a good idea to be invest

  • Buy Hindalco at Rs 1100 levels: Expert

    26th May, 2005 11:19

    Vijay Bhambwani feels that for short and medium Hindalco has good support at Rs 1080 levels. In long term, it can see a healthy growth. Investors must hold it or b

  • Ruchi Soya touches a 52-week high

    26th May, 2005 11:07

    Ruchi Soya has touched a 52-week high of Rs 260.50. At 11 am, the share is quoting at Rs 257, up Rs 12.55, or 5.13%.

  • Crude at $51/bbl due to fall in US stocks

    26th May, 2005 10:37

    Oil topped $51 a barrel today, after a surprise fall in US crude stocks. It is weighing on regional stock markets but lifting energy shares, including Woodside

  • Principal PNB launches new fund

    26th May, 2005 10:28

    Principal PNB Asset management's new Principal Junior Cap investment has at least 51% in companies from CNX Nifty Junior index with upto 35% in companies with mar

  • Kashyap Pujara bullish on Elder Pharma

    26th May, 2005 10:28

    Kashyap Pujara of Sushil Finance likes Elder Pharma. Its price target is Rs 240 with a time horizon of one year.

  • BHEL on way to reach Rs 1000 mark: Expert

    26th May, 2005 10:21

    Vijay Bhambwani feels that Bharat Heavy Electricals, BHEL, is bound to reach four figures mark. He suggests buying it at Rs 863 levels and remain invested.

  • India needs good supply sources: Rapaport

    26th May, 2005 10:16

    Chairman of The Rapaport Group, Martin Rapaport says that India will need to secure sources of supply of diamonds to make sure that they continue to grow their ind

  • Market opens flat: Action in midcaps

    26th May, 2005 09:57

    The markets have opened on a flat note. Stock specific action is seen in the midcap space. The NSE Midcap 200 Index has touched a new high of 3027.30.

  • SEBI fines Birla MF for non compliance

    26th May, 2005 09:53

    Sebi has slapped a Rs 75,000 penalty on Birla Mutual Fund for non-compliance with the take-over code regulations.

  • Infy prices sponsored ADS at $ 67

    26th May, 2005 09:40

    The Infosys 16 million ADS issue is expected to fetch over $ 1 billion. Infosys prices sponsored ADS at $ 67 per ADS and is at a 2.5% discount to Wednesda

  • F&O cues: Nifty Put-Call ratio up to 1.61

    26th May, 2005 09:23

    Nifty Put-Call ratio inches up to 1.61. Volumes improve, turnover at about Rs 14,337 crore.

  • Market cues: FIIs net sell $37.20 mn on Tues

    26th May, 2005 09:13

    FIIs net sell $37.20 million and MFs net buy Rs 347.84 crore on Tuesday

  • Money calls: Mody, Mukherjee

    26th May, 2005 09:04

    The bond market is expected to consolidate for the second day in a row, with oil prices hovering above the $51 mark, says Mody.

  • Equity calls: Kapoor, Manghnani, Panda

    26th May, 2005 08:56

    From a medium term perspective, the market is likely to be rangebound, with the Sensex between 6300 and 6700, says Kapoor.

  • Wall Street ends lower on surging oil prices

    26th May, 2005 08:50

    Surging oil prices prompted new worries about the economy and sent stocks lower yesterday as investors locked in profits from the market's recent rally. The Dow cl

  • Are MF IPOs losing their sheen?

    26th May, 2005 17:45

    After raising almost Rs 9000 crore since January this year, the mutual fund IPO rush seems to be dwindling.

  • Rupee firms while bonds end weak

    26th May, 2005 17:01

    Rupee held its gains while bonds ended weak.

  • Colgate, Eicher Motors, OBC, Satyam, BEML...

    26th May, 2005 16:46

    Pantaloon is defying gravity, while Eicher Motors seems to be the strength stock in the NSE. Ranbaxy is due for a ‘vicious bounce back’, and Dabur is shedding the

  • Prudential ICICI revises exit load

    26th May, 2005 16:42

    Prudential ICICI Mutual Fund has effected a change in the exit load structure under its Pru ICICI Long Term Floating Rate Fund, reports news wires. Now, redemption

  • Subsidy may not impact profits: Tata Tea

    26th May, 2005 16:37

    The Finance Minister has announced a one time subsidy of Rs 65 crore for the restoration of tea gardens. But, Percy Siganporia, MD, Tata Tea says that it may not r

  • Markets rally on shortcovering: Heavies up

    26th May, 2005 16:26

    The markets firmed up in late trading amid buying in capital goods, technology, FMCG, pharma, and auto stocks. Some weakness however was seen in metal and banking

  • Will invest in Indian Stock markets: GE

    26th May, 2005 16:22

    GE is preparing to enter both Indian bourses, as well as markets in consumer finance, power and infrastructure. GE President and CEO Jeff Immelt has also indicated

  • New insurance product for holiday seekers

    26th May, 2005 15:50

    Chennai based Cholamandalam MS General Insurance company, today announced the launch of its new overseas travel insurance product 'Chola Travel Insurance'.

  • Colour Chem net at Rs 16.46 cr

    26th May, 2005 15:46

    Colour Chem has announced its results. Its FY05 net is at Rs 16.46 crore. FY05 net sales are at Rs 413.26 crore.

  • Crisil FY05 net at Rs 22.16 cr

    26th May, 2005 15:43

    Crisil has announced its results. Its FY05 net is at Rs 22.16 crore. FY05 net sales are at Rs 89.08 crore.

  • BHEL issue to be at 10-15% discount: Kumar

    26th May, 2005 15:17

    With the government preparing to divest 10% of its stake in BHEL, Ashok Kumar of Lotus Knowlwealth says that the issue could bear a discount of around 10-15%.

  • Focus remains on the index: StanChart MF

    26th May, 2005 15:09

    Rajiv Anand of Standard Chartered MF says that at present, the market is focusing on the index, rather than the headline numbers. Higher oil prices, inflation, nex

  • Only buyers in Alstom, stock up

    26th May, 2005 14:58

    Alstom is locked at 10% upper limit. There were pending buy orders of 152,267 shares, with no sellers available.

  • Orient Craft plans an IPO in next one year

    26th May, 2005 14:52

    Sudhir Dhingra of Orient Craft says that the company is planning to tap the equity market in the next one year.

  • Strides Arcolab set to acquire Biopharma

    26th May, 2005 14:40

    Strides Arcolab will take over Venezuela-based Biopharma. Arun Kumar, Group Chairman at Strides Arcolabs, said that the acquisition will cost below $1 million.

  • Labour laws need amendment: Gokuldas Exports

    26th May, 2005 14:29

    The textiles industry is suffering due to the labour laws being left to the whims of the state. A bold activity needs to be taken on this front and labour laws nee

  • Dreams of a home can come alive for many

    26th May, 2005 14:17

    Tax benefits apart, home loans have become easier to get even for renovation and remodelling purposes. So here's all you wanted to know on the subject and didn't k

  • MIdcaps buoyant, but care needed: Kotak MF

    26th May, 2005 13:46

    The midcap index closed above the 3000 mark for the first time yesterday. However, there is concern that the performance is not sustainable.

  • Eicher chalking out growth plans

    26th May, 2005 13:21

    After the sale of its tractor business to Tractor and Farm Equipment Limited (TAFE), Eicher Motors Limited, announced its acquisition of an US based auto design co

  • Move out of Ranbaxy: Jain

    26th May, 2005 12:51

    According to Rajesh Jain of Pranav Securities, one should move out of Ranbaxy to some other pharma space.

  • Most investors bullish on India: Prudential

    26th May, 2005 12:47

    Foreigners have played a large role in the markets through the last two to three years, since the Asian crisis. That role should now be handed over to the domestic

  • UBS to contest Sebi prohibition order

    26th May, 2005 12:27

    UBS will contest Sebi's order prohibiting the firm to issue offshore derivatives for a year, in the Sebi Appellate Tribunal. The order was delivered regarding UBS'

  • Pantaloon Retail amongst major gainers today

    26th May, 2005 12:23

    Pantaloon Retail has touched an intraday high of Rs 1,295 and an intraday low of Rs 1,215. At 12:13 pm the share is quoting at Rs 1,279.80, up Rs 63.95, or 5.26%.

  • Exit Padmalaya Tele at Rs 50: Bhambwani

    26th May, 2005 12:14

    Vijay Bhambwani feels that Padmalaya Tele Films has a strong resistance at Rs 52 levels, which it will not break. Investors must exit at Rs 50.

  • Gateway Distriparks moves up smartly

    26th May, 2005 11:55

    Gateway Distripark has touched an intraday high of Rs 157.30 and an intraday low of Rs 148.15. At 12:07 pm the share is quoting at Rs 155.40, up Rs 7.30, or 4.93%.

  • Godrej Ind touches a 52-week high

    26th May, 2005 11:40

    Godrej Industries has touched a 52-week high of Rs 276.85.

  • Venkys scales a new 52-week high of Rs 137

    26th May, 2005 11:32

    Venkys has touched a 52-week high of Rs 137. At 11:21 am the share is quoting at Rs 133.70, up Rs 7.90, or 6.28%.

  • Markets flat: Midcap 200 hits a new high

    26th May, 2005 11:23

    The markets are trading flat. Buying is seen in FMCG, pharma, technology, capital goods and metal stocks. However, banking, oil and select auto stocks are witnessi

  • F&O market to be volatile: Kumar

    26th May, 2005 11:18

    With the expiry today, Shomesh Kumar of Karvy Stock Broking feels that the F&O market will remain volatile.

  • Sesa Goa looks 'absolutely weak', exit it

    26th May, 2005 10:54

    Vijay Bhambwani feels that Sesa Goa will remain in the range of Rs 610-720. Its charts are showing an absolute weakness, investors must sell it off at every rise.

  • GTL not good for long term: Bhambwani

    26th May, 2005 10:37

    Vijay Bhambwani feels that GTL is a fairly speculative stock, which is evident from large volumes it is trading in. He is uncomfortable holding it for one year and

  • Eicher Motor sells tractor division,stock up

    26th May, 2005 10:28

    Eicher Motors has touched a 52-week high of Rs 396. At 10:17 am the share is quoting at Rs 391.90, up Rs 22.60, or 6.12%.

  • Once above Rs 894, ONGC will leap: Expert

    26th May, 2005 10:23

    Vijay Bhambwani feels that investors must remain invested in ONGC, once it trades above Rs 894 levels, it will see an accelerated rally.

  • Bharati Shipyard touches a 52-week high

    26th May, 2005 10:19

    Bharati Shipyard has touched a 52-week high of Rs 183. At 10:02 am, the share is quoting at Rs 183, up Rs 18.55, or 11.28%.

  • F&O strategy on Union Bank

    26th May, 2005 10:08

    F&O strategy on Union Bank by IL&FS Investsmart.

  • Kashyap Pujara likes Ashok Leyland

    26th May, 2005 09:56

    Kashyap Pujara of Sushil Finance likes Ashok Leyland. One can expect a price of Rs 30 in the stock in six to eight months.

  • HPCL Q4 net seen down 28.76%

    26th May, 2005 09:43

    According to CNBC-TV18 estimates, HPCL's Q4FY05 net profit is expected to go down 28.76% to Rs 375.49 crore.

  • Stocks in news: Tata Chem, ITC, Ispat Ind

    26th May, 2005 09:36

    Stocks in news: Tata Chem, Infosys, Ispat Ind, Elder Pharma, and ITC

  • Asian markets trading weak

    26th May, 2005 09:14

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

  • Gold market will be bullish, says Gnanasekar

    26th May, 2005 09:10

    Gold looks bullish in the long term, says Gnanasekar

  • Rio Tinto Diamonds prospecting in India

    26th May, 2005 09:00

    Rio Tinto has been exploring for mines in India for the last four years and has already spent US $ 20 million in the effort. In case of the discovery of a mine

  • Brokers bullish on BHEL, SBI, Tisco

    26th May, 2005 08:54

    Brokerage houses are bullish on SBI, BPCL, Tata Steel, BHEL, Shree Cement, and Television Eighteen.

  • Corporate dollar demand to bring the re down

    26th May, 2005 08:50

    Rupee may weaken against the US dollar on the back of corporate dollar demand continuing.

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