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Moneycontrol News Archive : 4 May, 2005

  • Air Deccan may offer seats for a buck!

    4th May, 2005 21:17

    India’s first low-cost airlines may soon offer at least three to four seats on every flight for one rupee. This is to target consumers who cannot otherwise afford

  • I have faith in the rally: Hari Haran

    4th May, 2005 17:21

    The way the discount has actually contracted from 30 points at the end of the expiry to 10 points, illustrates that the nervousness is slowly going away. There is

  • Power crisis to impact production: Bajaj

    4th May, 2005 16:59

    Shortage of power will affect the company's production, says Rahul Bajaj, Chairman of Bajaj Auto.

  • RBI nod must for stake buy beyond 5%

    4th May, 2005 16:45

    The Reserve Bank's, RBI's, approval will be required for acquisition of stake beyond 5%. The Cabinet is planning to consider amendments to the Banking Re

  • Buy Union Bank at Rs 130, says Doshi

    4th May, 2005 16:41

    Sejal Doshi of Angel Broking feels that the results of Union Bank of India are encouraging. He suggests buying the stock at Rs 120-130 levels.

  • Bear trend till 6450 on Sensex: Choksey

    4th May, 2005 16:28

    Deven Choksey of K R Choksey says that the bear trend will continue on the markets, till it is able build a sustainable base on 6450 Sensex levels.

  • Markets gain: Sensex up 73 points at close

    4th May, 2005 16:16

    The markets ended the day on a higher note amid gains in pharma, technology, metal, banking, FMCG, oil, auto, and telecom stocks.

  • Maruti has good prospects, says Jain

    4th May, 2005 16:11

    Rajesh Jain feels that Maruti will be still making progress even when crude oil prices are hiked.

  • Low volumes in F&O trade

    4th May, 2005 15:51

    Volumes continue to remain low in F&O trade.

  • Asian markets close higher

    4th May, 2005 15:42

    Asian markets closed higher today. The Hang Seng closed up 0.37% at 13,945.05 and the Straits Times closed up 0.57% at 2,149.38.

  • CCEA meet to discuss critical issues

    4th May, 2005 15:14

    The CCEA would meet to discuss important bills like the WMD bill, the SEZ bill and amendments to the RBI Act seeking to give it more power over banking.

  • Markets gain: Pharma, tech & metal firm

    4th May, 2005 15:07

    The markets have gained amid buying across the board. Gains are seen in most of the metal, technology, pharma, FMCG, banking, auto, and oil stocks.

  • Union Bank announces results, stock up

    4th May, 2005 14:53

    Union Bank of India has announced its results. It's Q4 net is up 1% at Rs 238.91 crore from Rs 236.26 crore. At 2:41 pm the share is quoting at Rs 100.20, up Rs 2.

  • Be wary of Tisco, says Maloo

    4th May, 2005 14:42

    Hormuz Maloo is of the opinion that there could be a significant reverse trend in Tisco. The stock can even fall below Rs 300 levels.

  • Exit sugar sector: Maloo

    4th May, 2005 14:14

    Hormuz Maloo has doubts on the entire sugar sector. He suggests exiting from it.

  • Buy Varun Shipping at Rs 35, says Maloo

    4th May, 2005 13:50

    Hormuz Maloo is of the belief that investors entering Varun Shipping at Rs 35 levels will make good profits.

  • Union Bank's Q4 net int income up 32.90%

    4th May, 2005 13:19

    Union Bank's Q4 net interest income is up 32.90% from Rs 422.50 crore(Rs 4.22 billion) to Rs 561.49 crore (Rs 5.61 billion).

  • Bank earnings to be lumpy in FY06: Karvy

    4th May, 2005 13:01

    According to Hemindra Hazari of Karvy Stock Broking, in the first quarter of financial year 2006, some banks will take a hit on the depreciation of investment norm

  • Fed rate to hit 4% by year end: Commerzbank

    4th May, 2005 13:00

    The US Fed will continue with its 25 bps rate hikes, though the dollar may slide ahead, and the rate should hit 4% by the end of 2005, says Patrick Bennett, Curren

  • Shopper's Stop reasonably priced: Bhargava

    4th May, 2005 12:51

    SC Bhargava of LIC feels that issue of Shopper's Stop is reasonably priced and the retail sector has a good future.

  • Boeing keen on maintenance unit in India

    4th May, 2005 12:47

    Boeing is keen on exploring possibilities of an aircraft maintenance and pilot training facility in India.

  • FY06 to be better than FY05: Orient Paper

    4th May, 2005 12:38

    The depression in profits and hike in expenditure is the result of one-time costs such as gratuity liabilities for Orient Papers.

  • Gateway Distriparks among major gainers

    4th May, 2005 12:31

    Gateway Distri has touched an intraday high of Rs 162.75 and an intraday low of Rs 152.40. At 12:21 pm the share is quoting at Rs 161.75, up Rs 8.05, or 5.24%.

  • Markets firm: Pharma & FMCG stocks gain

    4th May, 2005 11:55

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

  • F&O may see a bounce back: Mutha

    4th May, 2005 11:42

    According to analysts, the F&O market may see a bounce back based on short covering.

  • Only buyers in JMC Projects, stock up

    4th May, 2005 11:34

    JMC Projects has touched an intraday high of Rs 111.45 and an intraday low of Rs 108. At 11:23 am the share is quoting at Rs 111.45, up Rs 5.30, or 4.99%.

  • Transfer not to affect guidance: Hexaware

    4th May, 2005 11:31

    Atul Nishar of Hexaware Technologies says that the current year's guidance will not be affected due to Oracle exercising a transfer. The company had factored in th

  • Shringar Cinemas puts on a good show

    4th May, 2005 11:18

    Shringar Cinemas has touched an intraday high of Rs 50.80 and an intraday low of Rs 45.35. At 11:15 am the share is quoting at Rs 49.80, up Rs 4.15, or 9.09%.

  • Fed may raise rates further: Cardillo

    4th May, 2005 11:14

    Analysts at SW Bach & Company feels that the US Fed has an intention to raise interest rates.

  • Alstom Projects moves up

    4th May, 2005 11:02

    Alstom Projects has touched an intraday high of Rs 228.60 and an intraday low of Rs 217.30. At 10:55 am the share is quoting at Rs 226.50, up Rs 9.20, or 4.23%.

  • Century Enka announces results, stock up

    4th May, 2005 10:57

    Century Enka announced its Q4 net profit at Rs 26.10 crore vs Rs 19.71 crore. At 11:05 am the share is quoting at Rs 144.55, up Rs 7.45, or 5.43%.

  • Kale Consultants among major gainers

    4th May, 2005 10:55

    At 10:40 am Kale Consultants is quoting at Rs 78.90, up Rs 4, or 5.34%.

  • Flextronics Software hits a 52-week high

    4th May, 2005 10:47

    Flextronics Software Systems has touched a 52-week high of Rs 628.90. At 10:31 am the share is quoting at Rs 612, up Rs 60.60, or 10.99%.

  • SP Tulsian likes KCP Sugar

    4th May, 2005 10:38

    Investment advisor SP Tulsian likes KCP Sugar. It is the most efficiently managed sugar mill in South India. One can expect 50-60% appreciation in the stock over t

  • Hexaware Tech among major losers

    4th May, 2005 10:32

    At 10:17 am, Hexaware Technologies is quoting at Rs 135.15, down Rs 10.75, or 7.37%.

  • SP Tulsian bullish on Hyderabad Industries

    4th May, 2005 10:21

    Investment advisor SP Tulsian likes Hyderabad Industries. As per valuation, its EPS for FY06 is above Rs 50. One can expect over 50% appreciation in the stock pric

  • PN Vijay bullish on Punjab National Bank

    4th May, 2005 09:44

    Investment advisor PN Vijay likes Punjab National Bank. It is available at an excellent valuation. Its interest income growth is excellent.

  • Market opens on a flat note

    4th May, 2005 09:38

    The market has opened on a flat note. Selective buying is seen in the auto, cement, and sugar shares.

  • Oil prices slump below $50

    4th May, 2005 09:33

    Oil prices slumped below $50 on hopes that today's US inventory data will show yet another healthy rise of 1.25 million barrels.

  • RIL refutes allegations against Meswani

    4th May, 2005 09:31

    Reliance Industries has 'strongly refuted' all allegations against it's director Nikhil Meswani.

  • Bill to check spam to be tabled on Friday

    4th May, 2005 09:18

    Opposition Biju Janata Dal lawmaker, Jay Panda has proposed a bill to check spam calls and individual privacy, vis-a-vis cell phones. The bill will be introduced i

  • Market cues: FIIs net sell $3.70 mn on Mon

    4th May, 2005 09:15

    FIIs net sell $3.70 million and MFs net buy Rs 53.05 crore on Monday.

  • Service apartments to see FDI boom

    4th May, 2005 09:09

    Service apartments may be the first segment of Indian realty to benefit from the liberalised FDI regime in construction, as international players scout for Indian

  • Rupee likely to inch up today

    4th May, 2005 09:01

    Rupee is likely to inch up as the dollar weakened by the US monetary authority holding on its accommodative stance.

  • US Fed hikes rates to 3% in 'measured' pace

    4th May, 2005 08:56

    The US Federal Reserve has raised the benchmark interest rate by 25 basis points, to 3%, on continued inflation worries. It has restated its "measured" s

  • Asian markets trading firm after Fed move

    4th May, 2005 08:54

    Asian stocks are trading firm after the US Federal Reserve raised interest rates by an expected 25 basis points.

  • Brokers bullish on Bharti Tele, Ruchi Soya,

    4th May, 2005 08:29

    Brokerage houses are bullish on Aventis Pharma, Ashok Leyland, Dabur India, Ruchi Soya, Bharti Tele, Marico, and Arvind Mills.

  • Cabinet may amend Banking Regulation Act

    4th May, 2005 21:10

    The RBI is to be empowered to supersede bank boards, appoint administrators. The RBI Act is to be amended to remove limit on CRR.

  • Visa offers new online service with BillDesk

    4th May, 2005 17:15

    VIsa has signed a MoU with BillDesk to launch an online service that will enable Visa cardholders to make bill payments using their Visa credit or debit cards.

  • Next year’s prospects encouraging: Concor

    4th May, 2005 16:57

    Concor announced its results. Its Q4FY05 net profit is up 24.9% to Rs 127.88 crore. Rakesh Mehrotra of Concor says that the prospects for next year are very encour

  • Rupee ends higher on global dollar weakness

    4th May, 2005 16:41

    Bonds firmed up while the rupee ended higher on dollar weakness overseas and continued speculation over revaluation in Chinese yuan.

  • Choksey positive on cement, PSU banks

    4th May, 2005 16:36

    Investors can look at Ranbaxy, ACC, Madras Cement and Union Bank for some value picks at this time, says Deven Choksey of K R Choksey.

  • Tata Power, M&M, Infosys, M&M, Bhel, HLL...

    4th May, 2005 16:20

    Tisco would touch Rs 360 to Rs 380 on the upside, while both Tata Power and Mahindra and Mahindra are looking good says Rohit Srivastav.

  • Flextronics plans to delist from BSE, NSE

    4th May, 2005 16:12

    Flextronics voluntarily plans to delist from BSE, NSE.

  • A man for all seasons

    4th May, 2005 16:07

    Amitabh Bachchan is the original superstar and he's back in the reckoning.

  • Buy Nicholas Piramal, says Jain

    4th May, 2005 15:43

    Rajesh Jain feels that investors should buy Nicholas Piramal as its prices have gone down.

  • Hold Teledata Informatics till Rs 42: Maloo

    4th May, 2005 15:17

    Hormuz Maloo believes that Teledata Informatics looks good. He suggests staying invested in the stock by keeping a stoploss of Rs 42.

  • Yuan to impact Re, than US rates: ICICI Bank

    4th May, 2005 15:10

    The rupee will be impacted to a greater extent by the imminent revaluation of the Chinese yuan, than the US Fed's 25 basis points hike in interest rates, says Neer

  • IDBI Bank bounces back today

    4th May, 2005 15:05

    Industrial Development Bank of India, IDBI Bank, has touched an intraday high of Rs 82 and an intraday low of Rs 77.70. At 2:53 pm the share is quoting at Rs 81.35

  • Royal Airways board approves FCCB issue

    4th May, 2005 14:52

    The Royal Airways board has approved the Foreign Currency Convertible Bond, FCCB issue of upto $ 90 million.

  • Hikal Chemicals looks good for short term

    4th May, 2005 14:20

    Investors can make profits by investing in Hikal Chemicals for short term, says Hormuz Maloo. He suggests keeping a stoploss of Rs 360 in the stock.

  • Only buyers in Ador Welding, stock up

    4th May, 2005 14:02

    Ador Welding has touched an intraday high of Rs 150 and an intraday low of Rs 134.10. At 1:50 pm the share is quoting at Rs 150, up Rs 13.60, or 9.97%.

  • Markets look reasonably priced: Shah

    4th May, 2005 13:44

    Nishid Shah of Birla SunLife AMC says that the market looks reasonably priced as it is trading around 11 times on FY06 numbers.

  • Concor Q4FY05 net profits up 24.9%

    4th May, 2005 13:14

    Container Corporation of India's Q4 net profit is up 24.9% from Rs 102.41 crore to Rs 127.88 crore. Its net sales are up 16.1% from Rs 470.59 crore to Rs 546.37 cr

  • The worst is over for the markets: LIC

    4th May, 2005 13:00

    LIC has intentionally kept out of doing large-scale purchases in the past quarter. It is still heavily invested in banking, though.

  • Exit Great Eastern Shipping, says Maloo

    4th May, 2005 12:57

    Hormuz Maloo is not optimistic with Great Eastern Shipping Company. He suggests booking profits and exiting from the stock.

  • NTPC, Gail at loggerheads over pricing

    4th May, 2005 12:50

    NTPC, Gail are at loggerheads over natural gas price from the Panna, Mukta and Tapti fields.

  • Infosys may give 20-30% in short run: Maloo

    4th May, 2005 12:45

    Hormuz Maloo is of the view that Infosys Technologies won't be rising much at current levels. It might give profits in the range of 20-30% in short run.

  • Stay away from 3i Infotech, says Shah

    4th May, 2005 12:34

    Jigar Shah is of the view that 3i Infotech doesn't look good enough as its competitors in performance. He advises investing in other stocks.

  • Rajasthan Spinning continues to rally

    4th May, 2005 12:22

    Rajasthan Spinning and Weaving Mills has touched an intraday high of Rs 111.25 and an intraday low of Rs 104.05. At 12:15 pm the share is quoting at Rs 111.20, up

  • Buy Pfizer at current levels, says Shah

    4th May, 2005 11:46

    Jigar Shah is of the opinion that Pfizer will give good returns in long term. Investors should buy the stock now.

  • Nalco & Hindalco consolidating: Bhambwani

    4th May, 2005 11:41

    Vijay Bhambwani feels that both Nalco and Hindalco are consolidating. If they don't overcome their supplies they will face pressure on the upside.

  • Market's rise to depend on flows: Dalal

    4th May, 2005 11:31

    According to Amit Dalal of Amit Nalin Securities, markets will move to 6650 levels, but the momentum and the strength of the rise will depend a lot on the flows, w

  • Bajaj Tempo to be called Force Motors

    4th May, 2005 11:27

    The Firodia's have got the HC nod to change their company's name from Bajaj Tempo to Force Motors. The new corporate logo will be decided in a few days.

  • India flows not affected by Fed hike: Bhalla

    4th May, 2005 11:17

    Surjit Bhalla of O(x)us Fund Management says, the US Fed rate hike should not affect fund flows to emerging markets, including India. The rate is also unlikely to

  • Dhampur Sugar continues to rally

    4th May, 2005 11:11

    Dhampur Sugar Mills has touched an intraday high of Rs 122.40 and an intraday low of Rs 117.25. At 10:58 am the share is quoting at Rs 121.20, up Rs 4.35, or 3.72%

  • RS Software firms up

    4th May, 2005 11:00

    RS Software has touched an intraday high of Rs 63 and an intraday low of Rs 58. At 10:49 am the share is quoting at Rs 62, up Rs 3.50, or 5.98%.

  • SP Tulsian bullish on Mukand

    4th May, 2005 10:55

    Investment advisor SP Tulsian likes Mukand. It has rescheduled its debt liability in FY05. It is likely to sell its property in suburbs of Mumbai, which will fetch

  • Orient Paper reports Q4 loss at Rs 1.55cr

    4th May, 2005 10:50

    Orient Paper has reported a Q4FY05 net loss of Rs 1.55 crore from a net profit of Rs 8.79 crore. Net sales are up 15.55% at Rs 220.64 crore from Rs 190.94 crore.

  • Ranbaxy Laboratories firms up

    4th May, 2005 10:39

    Ranbaxy Laboratories has touched an intraday high of Rs 940 and an intraday low of Rs 912. At 10:25 am the share is quoting at Rs 940, up Rs 27.55, or 3.02%.

  • F&O Strategy on Maruti

    4th May, 2005 10:35

    F&O Strategy on Maruti by IL&FS Investsmart.

  • Gati Corporation touches a 52-week high

    4th May, 2005 10:23

    Gati Corporation has touched a 52-week high of Rs 230. At 10:09 am the share is quoting at Rs 218.55, up Rs 18.80, or 9.41%.

  • SP Tulsian likes Century Textiles

    4th May, 2005 10:01

    Investment advisor SP Tulsian likes Century Textiles. Its expected EPS for FY06 is at Rs 20. One can expect 50% appreciation in the stock from the current price.

  • Maharashtra to look at new power projects

    4th May, 2005 09:40

    Maharastra CM, says says the state will take up new projects to overcome the power shortage in the state

  • Fed worry on inflation, not growth: Mellman

    4th May, 2005 09:36

    Senior economist at JP Morgan Chase Bank, Robert Mellman says that the Fed is more concerned about inflation than about growth, and they will continue tightening t

  • Stocks in news: Gati, IDBI Bank, VSNL

    4th May, 2005 09:32

    Stocks in news: Gati, Union Bank, IDBI Bank, Aban Loyd, Godrej Consumer, VSNL, and Alstom Projects.

  • Mahrashtra govt asked to compensate Bechtel

    4th May, 2005 09:24

    Maharashtra government and the state electricity board have been asked by an international arbitration panel to compensate Bechtel with $125 million.

  • PN Vijay likes Arvind Mills

    4th May, 2005 09:16

    Investment advisor PN Vijay likes Arvind Mills. It is the biggest beneficiary of removal of quota regime. Its annual and quarterly results are impressive.

  • F&O cues: Nifty Put Call ratio at 0.95

    4th May, 2005 09:12

    Nifty Futures discount widens to 17 points. Volumes continue to be low, turnover at Rs 6,902 crore. The Nifty Put-Call ratio is at 1-month high of 0.95.

  • Crude oil looks bearish, says Rai

    4th May, 2005 09:07

    Crude oil looks bearish and prices could fall to Rs 2,235 per bbl levels, says Rai.

  • Money calls: Mody, Venkataraman

    4th May, 2005 09:00

    We are likely to see yield on 10-year benchmark bond easing 2-3 bps, says Mody.

  • Equity calls: Choksey, Gujral, Panda

    4th May, 2005 08:55

    The market will continue to move in a range, with the Sensex between 6070 and 6250, says Choksey.

  • US stocks end with modest gains

    4th May, 2005 08:37

    US stocks ended with modest gains yesterday as the Federal Reserve kept to its policy of gradual interest rate hikes, but provided little new insight into the heal

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