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Moneycontrol News Archive : 5 May, 2005

  • RBI raises bank dividend limit to 40%

    5th May, 2005 19:59

    The apex bank has raised the limit on dividends that banks can pay out from 33.3% to 40%. Additionally, banks with less than 7% NPA, and with a capital adequacy ra

  • Voting Rights Bill makes bank shares flare

    5th May, 2005 19:48

    The cabinet's decision to place before parliament a bill to remove the 10% cap on voting rights on shareholders in private banks has led to a huge flare up in bank

  • BHEL, BEL, ITC, Ranbaxy, TCS, L&T...

    5th May, 2005 19:17

    Ranbaxy and L&T are good stocks, while TCS may bottom out around 1100. BHEL, BEL and ITC are the picks for tomorrow.

  • How Fringe Benefit Tax will hit YOUR salary

    5th May, 2005 18:23

    Will you end up with a lesser salary, if companies have to pay more fringe benefits tax? Experts say thatís inevitable. So watch out, your Take Home is all set tak

  • 1820 to 1980 good range on Nifty: Das

    5th May, 2005 17:36

    Between 1900-1970, trading on Nifty would be quite comfortable and even at 1920-1930 levels, you would get a range of 1820-1980 which is a very good range for the

  • Margins not a function of growth: HDFC

    5th May, 2005 16:38

    Growth and margins are not as inextricable as they seem to be, feels HDFC MD Keki Mistry. The bank has collected more than Rs 1000 crore from its venture partner a

  • Rupee ends on a strong note

    5th May, 2005 16:19

    The rupee firmed to a fresh three-month high on Thursday morning, boosted by persistent speculation of a yuan revaluation. Bonds drifted lower and according to dea

  • Asian markets gain: Taiwan up over 2%

    5th May, 2005 16:00

    Asian markets have closed higher. The Hang Seng closed up 0.84% at 14,061.70 and the Straits Times closed down 0.06% at 2,148.10.

  • Charts aren't good for banking: Expert

    5th May, 2005 15:36

    Anil Manghnani is of the view that charts are not giving any good indications on banking stocks.

  • Welspun hopeful of Rs 650cr sales ahead

    5th May, 2005 15:27

    Welspun is hopeful of seeing a big revenue growth this year because of the sales kicking in from the new plant. Rajesh Mandawewala, Ex-Director and CEO of Welspun

  • Overall business growth is good: UCO Bank

    5th May, 2005 15:16

    UCO Bank is optimistic about the bank's performance.

  • Hold HDFC for long term, says Manghnani

    5th May, 2005 15:12

    Anil Manghnani feels that HDFC is a strong stock. It can again reach its recent high of Rs 830. It has good FII and FI holdings also. Investors must hold this stoc

  • Keep target of Rs 175 in Tata Chemicals

    5th May, 2005 15:05

    Anil Manghnani feels that Tata Chemicals has just seen a break out. The stock is expected to go up. He suggests booking profits at Rs 175.

  • M&M Scorpio sales creep up

    5th May, 2005 14:37

    Scorpio sales have seen an increase at 2438 units, compared to 2,028 units in the last year. While month-on-month, sales figures excluding tractors are down at 10,

  • Lupin in $10.5mn pact with Cornerstone

    5th May, 2005 14:34

    Lupin has signed a marketing pact with Cornerstone BioPharma and Lupin will get $10.5 million milestone payment from Cornerstone BioPharma.

  • Explosion outside British Consulate in NY

    5th May, 2005 14:31

    There was an explosion outside the British Consulate in New York. No injuries have been reported so far.

  • HDFC Q4 net profit up 16.72%

    5th May, 2005 14:16

    HDFC's net profit is up 16.72% from Rs 297.97 crore (Rs 2.97 billion) to Rs 347.79 crore (Rs 3.47 billion), year-on-year.

  • Flextronics touches a 52-week high

    5th May, 2005 14:12

    Flextronics has touched a 52-week high of Rs 629.35. According to CNBC-TV18 poll, it is expected to post a net profit of 4%. At 2:08 pm the share is quoting at Rs

  • Hold Union Bank, says Baliga

    5th May, 2005 14:00

    Ambareesh Baliga is of the view that results of Union Bank of India were satisfactory. He suggests holding on to the stock.

  • Exit TCS, invest in other IT stocks: Baliga

    5th May, 2005 13:39

    Ambareesh Baliga feels that TCS results were the cause of its downfall. The stock will regain its lost ground but will take time. Invest in other IT stocks.

  • Markets look range bound in near term: Jain

    5th May, 2005 12:56

    According to Nirmal Jain, most fund managers feel that the market will be range bound in the near term.

  • Sensex to move in 6000-6400 range: Kapoor

    5th May, 2005 12:48

    According to Vibhav Kapoor of IL&FS, Sensex is likely to move within a range of 6000-6400.

  • Maruti Q4 net seen up 51.59% at Rs 238cr

    5th May, 2005 12:44

    Maruti is expected to post a 51.59% increase in Q4 net profit at Rs 238.23 crore, while revenues are expected to rise by 7.5% to Rs 3114.1 crore.

  • Blended Plan gives liquidity, returns: Shah

    5th May, 2005 12:38

    Prudential ICICI has introduced a Blended Plan comprising short-term debt and equity arbitrage position, which will take advantage of arbitrage between equity and

  • Infosys witnessing buying interest

    5th May, 2005 12:22

    Infosys Technologies has touched an intraday high of Rs 2,002 and an intraday low of Rs 1,949.90. At 12:10 pm the share is quoting at Rs 1,994, up Rs 55.30, or 2.8

  • Indo Gulf Fertilisers firms up

    5th May, 2005 11:52

    Indo Gulf Fertilisers has touched an intraday high of Rs 120 and an intraday low of Rs 114. At 11:40 am the share is quoting at Rs 119.50, up Rs 5.50, or 4.82%.

  • Market heading for 100-150 point rally: Bhat

    5th May, 2005 11:37

    According to Dilip Bhat of Prabhudas Lilladher, market is heading towards a 100-150 point rally on the upside. However, in the medium-term it will remain range bou

  • Markets firm: Bank, tech, & auto rally

    5th May, 2005 11:32

    The markets have moved up on the back of strong gains in the bank, technology, and auto stocks. Select cement and steel shares have also firmed up.

  • Mastek bags deal from US based Carretek

    5th May, 2005 11:20

    Software company, Mastek has bagged an enterprise management deal from US-based Carretek.

  • Nifty may not cross 1980 levels: Pujara

    5th May, 2005 11:19

    Kashyap Pujara of Sushil Finance feels that the Nifty may not see much rise above 1970-1980 levels.

  • Lupin moves up smartly

    5th May, 2005 11:15

    Lupin has touched an intraday high of Rs 603.85 and an intraday low of Rs 558. At 10:56 am the share is quoting at Rs 590, up Rs 33.40, or 6%.

  • Removal of voting rights good move: BoR

    5th May, 2005 11:00

    Praveen Kumar Tayal, Chairman of Bank of Rajasthan says that the cabinet lifting the 10% cap on voting rights in private sector banks will be of comfort to foreign

  • Bank of Punjab in demand

    5th May, 2005 10:54

    Bank of Punjab has touched an intraday high of Rs 33.80 and an intraday low of Rs 30. At 10:46 am the share is quoting at Rs 31.90, up Rs 3.65, or 12.92%.

  • VXL Instruments firms up

    5th May, 2005 10:50

    VXL Instruments has touched an intraday high of Rs 57.90 and an intraday low of Rs 53.10. At 10:40 am the share is quoting at Rs 56.85, up Rs 4.75, or 9.12%.

  • Ador Welding touches a 52-week high

    5th May, 2005 10:42

    Ador Welding has touched a 52-week high of Rs 160. At 10:34 am the share is quoting at Rs 157, up Rs 7, or 4.67%.

  • F&O Strategy on Canara Bank, Andhra Bank

    5th May, 2005 10:22

    F&O Strategy on Canara Bank by KR Choksey and Andhra Bank by IL&FS Investsmart.

  • Oil up for a second day on speculation

    5th May, 2005 09:37

    Crude oil rose in New York for a second day on speculation that producers may not be able to meet peak demand later this year when US refiners increase production

  • Britain to vote for new government today

    5th May, 2005 09:26

    With Britain going in to poll today, Iraq, immigration and asylum may be big election issues for Prime Minister Tony Blair. But Blair has a trump card in the econo

  • Haldia Petro to acquire Basel Polyolefins

    5th May, 2005 09:16

    Haldia Petrochemicals will acquire the 5.7 billion euro Dutch Petrochemicals giant, Basel Polyolefins

  • Reliance tussle: 700 demat accounts frozen

    5th May, 2005 09:07

    The promoters of Reliance Industries seem set for a long ownership dispute. CNBC-TV18 learns that hundreds of demat accounts linked to the web companies have been

  • Money calls: Kaul, Singh

    5th May, 2005 09:00

    With the credit policy and the Fed rate hike behind us, the market is expected to remain rangebound with a positive undertone, says Kaul.

  • F&O cues: Nifty Put-Call ratio above 1

    5th May, 2005 08:51

    Nifty Futures discount at 10 points. Volumes continue to be low, turnover at Rs 7,368 crore. Nifty Open Interest Put-Call ratio above 1 after more than a month.

  • Market cues: FIIs net buy $6.9 mn on Tuesday

    5th May, 2005 08:41

    FIIs net buy $6.9 million and MFs net buy Rs 41.52 crore in Tuesday.

  • Dow rallies 1.2% on Kerkorian GM Offer

    5th May, 2005 08:36

    The Dow closed up 127.69, or 1.2%, at 10,384.64, largely thanks to the 18% rise in GM's share price. The Nasdaq composite index rose 29.16, or 1.5%, to 1,962.23.

  • FM says FBT maybe simplified

    5th May, 2005 19:52

    Assuring that there would be no harassment while administering the Fringe Benefit Tax, FBT, Finance Minister P Chidambaram today said the government was willing to

  • Dutch, BASF to sell Basell

    5th May, 2005 19:24

    Energy group Royal Dutch/Shell and German chemicals group BASF said on Thursday they had agreed to sell their Basell 50/50 joint venture for 4.4 billion euros (

  • Your take-home will be hit after FBT

    5th May, 2005 18:26

    CFO of Infosys Technologies TV Mohandas Pai says that fringe benefits will now be converted to allowances as part of your CTC. That means, your take-home is set to

  • Volumes not to pick up until indices move up

    5th May, 2005 17:57

    According to Sajiv Dhawan of JV Capital Services, if market can stay above 1965-1970 level for the next day or two then one could see a change in sentiment.

  • Bank reforms- a right step: SP Tulsian

    5th May, 2005 17:02

    The Banking Index is up 2.8% and most of the private bank averages are more than their 10 day averages, because of the liberalisation policy and Investment Advisor

  • Resistance level of 1970-2000 close: Arora

    5th May, 2005 16:37

    According to Sandeepa Arora of India Infoline, one should be cautious because the market is very close to a strong resistance level of 1970-2000.

  • F&O volumes improve slightly

    5th May, 2005 16:04

    Volumes improved slightly today in F&O trade. The turnover was at Rs 8,709 crore.

  • Markets up: Bank, tech, & pharma gain

    5th May, 2005 15:55

    The markets gained for the fourth day in a row. The bank, technology, and pharma stocks were among the major gainers. Some weakness however was seen in the FMCG sh

  • Flextronics Q4 net at Rs 30.10cr

    5th May, 2005 15:29

    Flextronics Software Systems net is at Rs 30.10 crore (Rs 301 million) and revenue at Rs 129 crore (Rs 1.29 billion).

  • Sell Dena Bank at every rise, says Manghnani

    5th May, 2005 15:22

    Anil Manghnani is of the view that Dena Bank is the weakest in the banking sector. Investors must exit the stock at every rise.

  • Larsen and Toubro up on large volumes

    5th May, 2005 15:15

    Larsen and Toubro has touched an intraday high of Rs 1,046 and an intraday low of Rs 992. At 3:02 pm the share is quoting at Rs 1,033.15, up Rs 36.45, or 3.66%.

  • Sell Hexaware Technologies: Baliga

    5th May, 2005 15:10

    Ambareesh Baliga feels that Hexaware Technologies has not performed as per the expectations. Its revised P/E for the stock is expensive at Rs 21-22. He suggests se

  • Shopper's Stop IPO subscribed 16.96 times

    5th May, 2005 14:51

    The Shopper's Stop IPO closed yesterday. It has been subscribed 16.96 times.

  • ACC Q4FY05 net seen up 4.1%: Poll

    5th May, 2005 14:34

    Associated Cement Companies, ACC's, Q4FY05 (YoY) net profit is up 4.1% to Rs 110.2 crore and FY05 (YoY) for ACC shows net profit up 61.4% to Rs 323.1 crore.

  • Exit Chambal Fertilisers at Rs 20:Manghnani

    5th May, 2005 14:31

    Anil Manghnani is of the view that charts for Chambal Fertilisers and Chemicals are not strong. He suggests keeping a stoploss of Rs 26 in the stock.

  • Flextronics can hit Rs 700, says Baliga

    5th May, 2005 14:24

    Ambareesh Baliga is of the view that like in Digital, the price of Flextronics Software Systems will increase. He advises holding the stock.

  • Markets up on broadbased buying

    5th May, 2005 14:13

    The markets have gained on the back of a broadbased rally. Most of the bank, technology, pharma, auto, and oil stocks have gained.

  • Gokaldas Export make smart gains

    5th May, 2005 14:10

    Gokaldas Export has touched an intraday high of Rs 663 and an intraday low of Rs 614.10. At 1:58 pm the share is quoting at Rs 651.50, up Rs 39.50, or 6.45%.

  • Hold Orient Paper, says Baliga

    5th May, 2005 13:50

    Ambareesh Baliga feels that Orient Paper Industries is a good stock to hold.

  • DRL's net profit seen down 32.34%

    5th May, 2005 13:08

    Dr Reddy's Lab's net profit is expected to fall by 32.34% from Rs 16.9 crore (Rs 169 million) to Rs 11.4 crore (Rs 114 million), year-on-year, according to CNBC TV

  • No interest rate hike now: PNB

    5th May, 2005 12:51

    With the bank rate and the cash reserve ratio being left alone, just a slight change in the Reverse Repo is not enough to bring major changes in interest rate stru

  • HLL will remain rangebound, says Srivastav

    5th May, 2005 12:46

    Rohit Srivastav is of the opinion that Hindustan Lever will remain rangebound between Rs 120-150.

  • UCO Bank FY05 net down 21%

    5th May, 2005 12:41

    UCO Bank FY05 net profit is down 21% at Rs 345.65 crore (Rs 3.45 billion) from Rs 435.41 crore (Rs 4.35 billion).

  • Zee Telefilms a good hold, says Jain

    5th May, 2005 12:30

    Rajesh Jain feels that Zee Telefilms will move up as a lot of its business initiatives has started paying off.

  • Indian Hume Pipe flares up

    5th May, 2005 12:00

    Indian Hume Pipe Company has touched an intraday high of Rs 415 and an intraday low of Rs 369.85. At 11:48 am the share is quoting at Rs 391, up Rs 38.20, or 10.83

  • Stride Arcolab makes smart gains today

    5th May, 2005 11:49

    Stride Arcolab has touched an intraday high of Rs 218 and an intraday low of Rs 206. At 11:36 am the share is quoting at Rs 211.95, up Rs 7.35, or 3.59%.

  • Bank of Rajasthan among major gainers

    5th May, 2005 11:34

    Bank Of Rajasthan has touched an intraday high of Rs 56.10 and an intraday low of Rs 51.90. At 11:26 am the share is quoting at Rs 54.80, up Rs 5.65, or 11.50%.

  • Ucal Fuel Systems among major gainers

    5th May, 2005 11:28

    Ucal Fuel Systems has touched a 52-week high of Rs 281.90. At 11:18 am the share is quoting at Rs 273.25, up Rs 34.95, or 14.67%.

  • Strides Arcolab buys 90% in Medgene

    5th May, 2005 11:19

    Strides Arcolab has bought 90% stake in Hyderabad-based Medgene.

  • Only buyers in Simbhaoli Sugars, stock up

    5th May, 2005 11:18

    Simbhaoli Sugar has touched an intraday high of Rs 80.90 and an intraday low of Rs 80. At 11:12 am the share is quoting at Rs 80.90, up Rs 3.85, or 5%.

  • Century Enka spurts on large volumes

    5th May, 2005 11:12

    Century Enka has touched an intraday high of Rs 160 and an intraday low of Rs 149.80. At 11:04 am the share is quoting at Rs 158.90, up Rs 13.15, or 9.02%.

  • Alstom continues to rally

    5th May, 2005 11:00

    Alstom has touched an intraday high of Rs 214.90 and an intraday low of Rs 203. At 10:52 am the share is quoting at Rs 211.95, up Rs 14.05, or 7.10%.

  • Bank reforms look positive: Deloitte Touche

    5th May, 2005 10:51

    According to Deloitte Touche Tomatsu with the 10% voting right limit in banks to go, it seems positive for the sector.

  • Pujara bullish on Honeywell Automation

    5th May, 2005 10:42

    Kashyap Pujara is bullish on Honeywell Automation formerly called Tata Honeywell.

  • Karnataka Bank flares up

    5th May, 2005 10:38

    Karnataka Bank has touched an intraday high of Rs 77.85 and an intraday low of Rs 68.50. At 10:26 am the share is quoting at Rs 76.20, up Rs 11.30, or 17.41%.

  • Markets rally: Action in bank stocks

    5th May, 2005 09:42

    The markets have moved up on the back of strong gains in the bank, technology, pharma, and select FMCG stocks. Banks have flared up following the banking sector re

  • Vilasrao Deshmukh meets power minister

    5th May, 2005 09:28

    The Maharashtra chief minister, Vilasrao Deshmukh, met power minister, PM Sayeed, to ask for additional power. Sayeed assured him that the centre would try and bri

  • Stocks in news: Zee, HDFC, Century Textiles

    5th May, 2005 09:17

    Stocks in news: Zee, HDFC, Texmaco, JB Chem, Dishman Pharma, Century Textiles, Eicher Motors.

  • Cabinet lifts cap on voting rights in banks

    5th May, 2005 09:09

    The cabinet has lifted the restriction on voting rights in banks and has given the RBI powers to prescribe the cash reserve ratio and the statutory liquidity ratio

  • Gold looks bullish, says Narne

    5th May, 2005 09:04

    Gold looks bullish over the medium to long term, says Narne.

  • Rupee firms to a fresh three-month high

    5th May, 2005 08:54

    The rupee firmed to a fresh three-month high on Thursday morning, boosted by persistent speculation of a yuan revaluation. The currency touched a high of Rs 43.40

  • Asian markets trading higher

    5th May, 2005 08:48

    Asian stocks are trading firm on the back of a positive cues from from Wall Street.

  • Equity calls: Mehta, Pujara, Mathew

    5th May, 2005 08:39

    The outlook for the market remains weak and any rise would be a selling opportunity, says Mehta.

  • Brokers bullish on RIL, Bhel, ONGC

    5th May, 2005 08:29

    Brokerage houses are bullish on RIL, ONGC, Bhel, GAIL, GSK Pharma, Zee, i-flex, and Ashok Leyland.

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