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Moneycontrol News Archive : 6 May, 2005

  • BPO companies hit by FBT

    6th May, 2005 17:36

    Indian BPO companies provide transport to all their employees. This is one of the major expenses for these companies. The pick and drop facility, is a routine for

  • Bonds weaken on above expectation inflation

    6th May, 2005 16:55

    Rupee ended weak. Bonds weakened as WPI inflation was sharply above expectations.

  • Dr Reddy's Q4 net loss at Rs 51.90 cr

    6th May, 2005 16:39

    Dr Reddy's Q4FY05 net loss is at Rs 51.90 crore as against a net profit of Rs 16.20 crore. Q4 revenue is down 10.57% from Rs 475.50 crore to Rs 425.20.

  • Asian markets end higher: Nikkei up 1.73%

    6th May, 2005 16:30

    Asian markets closed higher. The Nikkei share average rose 1.73% to a three-week closing high.

  • Gujarat Alkalies sees better profits in FY06

    6th May, 2005 16:21

    PK Taneja MD of Gujarat Alkalies is optimistic about his company's EPS going forward.

  • Markets up five days in a row

    6th May, 2005 15:49

    The markets gained for the fifth straight session. Several oil, technology, cement, metal, and media stocks put on a good show.

  • Base metals, energy to weaken: Kiener

    6th May, 2005 15:21

    Juerg Kiener of Swiss Asia Capital says that we can see more weakness in the base metals and energy in the weeks to come.

  • Gujarat Ambuja will be up in mid term

    6th May, 2005 15:12

    In Vidur Pendharkar's opinion, Gujarat Ambuja Cements is likely to show uptrend in mid term. He suggests taking bonus and split of the stock.

  • Markets volatile: Oil firm, pharma weak

    6th May, 2005 14:53

    The markets are volatile. Some buying is seen in oil, technology, cement, media, and FMCG stocks. However, banking, pharma, and select auto, telecom and metal stoc

  • Century Textiles can touch Rs 280: Bose

    6th May, 2005 14:42

    Rajat Bose is of the view that Century Textiles is looking positive. Its trading close to is resistance area. If it goes to the Birla fold and open offers then it

  • Only buyers in Royal Airways, stock up

    6th May, 2005 14:20

    Royal Airways has touched an intraday high of Rs 56.75 and an intraday low of Rs 51.60. At 2:10 pm the share is quoting at Rs 56.75, up Rs 5.15, or 9.98%.

  • Maruti Udyog Q4 net up 65.09% at Rs 259.45cr

    6th May, 2005 14:16

    Maruti Udyog has announced its results. The company's Q4 net is up 65.09% at Rs 259.45 crore from Rs 157.15 crore.

  • Bajaj Auto Finance hits a 52-week high

    6th May, 2005 14:00

    Bajaj Auto Finance has touched a 52-week high of Rs 197. At 1:50 pm the share is quoting at Rs 194.20, up Rs 12.10, or 6.64%.

  • Markets in consolidation phase: Sheth

    6th May, 2005 13:44

    Rushabh Sheth of Karma Capital Advisors says that the markets are going through a phase of consolidation, which is likely to continue for some time.

  • Are you ready for the midcap juggle?

    6th May, 2005 13:25

    Are you ready to take a bit of mid-cap in your thali? Krishnamurthy Vijayan, CEO of JM Mutual Fund tells it all…

  • Colgate may witness a buy back: Jain

    6th May, 2005 12:42

    Rajesh Jain is of the opinion that Colgate would perform like other FMCG counters like Cadbury and Nestle. There are rumours of a buy back in the stock.

  • Ranbaxy has not bottomed out: Manghnani

    6th May, 2005 12:30

    Anil Manghnani feels that Ranbaxy has not bottomed out. It's still in the range of a technical bounce back.

  • Sell Tisco when index reaches 6600: Expert

    6th May, 2005 12:19

    Anil Manghnani is of the view that investors should trade in Tisco by keeping the index in mind. If the index reaches 6600 levels, sell it, as the market will face

  • Markets driven by short covering: Vora

    6th May, 2005 12:12

    According to Amisha Vora of Prabhudas Lilladher, markets are being driven by short covering.

  • Financial Technologies among major majors

    6th May, 2005 12:02

    Financial Technologies has touched an intraday high of Rs 319.50 and an intraday low of Rs 286.25. At 11:52 am the share is quoting at Rs 312.50, up Rs 22.35, or 7

  • Nagarjuna Construction hits a 52-week high

    6th May, 2005 11:45

    Nagarjuna Construction has touched a 52-week high of Rs 795. Its board will be meeting soon to discuss stock split. At 11:34 am the share is quoting at Rs 779.80,

  • Markets to maintain upward bias: Maheshwari

    6th May, 2005 11:40

    Analysts maintain an upward bias for the F&O market.

  • Inflation at 5.91%, highest since Dec 25

    6th May, 2005 11:29

    Inflation for the week ended April 23 has increased to 5.91% versus 5.64%. A poll saw inflation for week ended April 23 at 5.63%.

  • Hotel Leela touches a 52-week high

    6th May, 2005 11:21

    Hotel Leela has touched a 52-week high of Rs 200.25. At 11:16 am the share is quoting at Rs 195.20, up Rs 19.05, or 10.81%.

  • Have 3-6 months to close Basell: Chatterjee

    6th May, 2005 11:14

    VC of The Chatterjee Group, Purnendu Chatterjee says the Basell transaction will take sometime because of European Commission clearances and all.

  • Deepak Nitrite hits a 52-week high

    6th May, 2005 11:10

    Deepak Nitrite has touched a 52-week high of Rs 126.35. At 10:56 am the share is quoting at Rs 125.20, up Rs 19.90, or 18.90%.

  • Cornerstone deal just the beginning: Lupin

    6th May, 2005 11:04

    While Lupin announced its $10.5 million deal with Cornerstone BioPharma yesterday, it can also license the drug to other companies outside the US. There are ot

  • ICICI Bank inches forward

    6th May, 2005 10:54

    ICICI Bank has touched an intraday high of Rs 386.90 and an intraday low of Rs 379. At 10:40 am the share is quoting at Rs 386.10, up Rs 8.85, or 2.35%.

  • Gulf Oil Corporation conitnues to rally

    6th May, 2005 10:40

    Gulf Oil Corporation has touched an intraday high of Rs 231.75 and an intraday low of Rs 221. At 10:28 am the share is quoting at Rs 229, up Rs 15.25, or 7.13%.

  • Matrix Laboratories moves up

    6th May, 2005 10:28

    Matrix Labs has touched an intraday high of Rs 168.70 and an intraday low of Rs 163.10. At 10:16 am the share is quoting at Rs 167, up Rs 5.25, or 3.25%.

  • Tata Motors launches mini truck, Tata Ace

    6th May, 2005 10:01

    Tata Motors has launched its indigenously built mini truck called Tata Ace. The company is bullish that the new Tata Ace will lead the market space by selling 30,0

  • Haldia Petro wants a piece of Basell pie

    6th May, 2005 09:54

    Purnendu Chatterjee is at loggerheads with the West Bengal government, which does not want Haldia Petrochemicals to participate in the 4.5 billion euro acquisition

  • Markets choppy: Pharma & banks weak

    6th May, 2005 09:46

    The markets have slipped into the red after opening with modest gains. Several pharma, bank, and auto stocks are weak but select cement and aluminium shares are fi

  • Rupee likely to gain, sentiment positive

    6th May, 2005 09:34

    Rupee likely to gain. Overall sentiment remains positive as the dollar remains weak overseas and as exporters also sell dollars.

  • F&O cues: Nifty Put-Call ratio at 1.06

    6th May, 2005 09:00

    Nifty Put-Call ratio is at 1.06. Volumes improve slightly; turnover at Rs 8,709 crore.

  • Market cues: FIIs net sell $15.50 mn on Wed

    6th May, 2005 08:58

    FIIs net sell $15.50 million and MFs net buy Rs 64.38 crore on Wednesday.

  • Money calls: Mukherjee, Sharma

    6th May, 2005 08:48

    The bond market has been trading in a range in the last few days, with a positive bias. We are likely to see this bias continue today, says Mukherjee.

  • Gold will remain bullish, says Gnanasekar

    6th May, 2005 08:41

    Gold is likely to move in a $432-435/oz range today, says Gnanasekar.

  • Equity calls: Bose, Kumar, Chadda

    6th May, 2005 08:34

    The trend looks positive. The long term positive trend was stress-tested and it seems to have come through, says Chadda.

  • Markets awaiting fresh triggers: BNP Paribas

    6th May, 2005 17:33

    According to K Ramachandran of BNP Paribas, markets will be range bound and will look out for fresh triggers.

  • No impact of bank reforms on Karur Vysya

    6th May, 2005 16:52

    Karur Vysya Bank says that the revised banking regulations have not impacted them.

  • Low turnover in F&O trade

    6th May, 2005 16:30

    The F&O trade saw a low turnover today of about Rs 8650 crore

  • Maruti profit to grow 20-23% in FY06: Parekh

    6th May, 2005 16:27

    Kalpesh Parekh of Ask Raymond James expects 12-14% volume growth in Maruti Udyog in the next fiscal. On the bottomline front, he sees around 20-23% growth.

  • Book 50% profits,when Kochi Refineries is up

    6th May, 2005 15:49

    Vidur Pendharkar is of the opinion that Kochi Refineries will reach Rs 184-195 levels. He suggests booking 50% profits in the stock at these levels.

  • Thomas Cook: Keep stoploss of Rs 410

    6th May, 2005 15:33

    Vidur Pendharkar is of the opinion that Thomas Cook is moving in a narrow range and is fairly illiquid. The investors must keep a stoploss of Rs 410 in it.

  • Inflation to touch 5.5% by year end: Barua

    6th May, 2005 15:17

    According to Abheek Barua, Chief Economist at ABN Ambro India, inflation will moderate after galloping up. It will keep the market spooked for a bit. He feels that

  • Exit Elder Pharmaceuticals at Rs 190: Expert

    6th May, 2005 14:53

    Vidur Pendharkar is of the opinion that short term target in Elder Pharmaceuticals is down. He suggests booking profits at Rs 190 levels.

  • Simbhaoli Sugar looks positive, says Bose

    6th May, 2005 14:50

    Rajat Bose feels that if Simbhaoli Sugar Mills goes above Rs 90, then it will become bullish. The medium and long term perspective looks positive.

  • Asian Electronics spurts on large volumes

    6th May, 2005 14:31

    Asian Electronics has touched a 52-week high of Rs 100.65. At 2:24 pm the share is quoting at Rs 99.50, up Rs 15.60, or 18.59%.

  • CAG picks holes in Centaur sale

    6th May, 2005 14:17

    The CAG report has put a cloud on the disinvestment process under former Disinvestment Minister Arun Shourie, and dents the opposition's campaign against tainted m

  • Ambika Cotton Mills continues to rally

    6th May, 2005 14:11

    Ambika Cotton has touched an intraday high of Rs 225 and an intraday low of Rs 210.50. At 2:04 pm the share is quoting at Rs 225, up Rs 14.15, or 6.71%.

  • Maruti Udyog remains unaffected by VAT

    6th May, 2005 13:50

    Maruti Udyog says, it is not affected by VAT problems, though pressure from raw material prices is on the rise. The company is quite bullish about the launch of it

  • Guj Alkalies Q4 net profits up at Rs 96 cr

    6th May, 2005 13:35

    Gujarat Alkalies Q4 net profit is at Rs 96 crore versus Rs 48 crore. The company's FY05 net profit is at Rs 144 crore against Rs 63 crore last year.

  • BOC will hit Rs 140 in long term: Pendharkar

    6th May, 2005 13:00

    Vidur Pendharkar feels that if BOC India maintains its level above Rs 99-112, it can touch Rs 144.

  • Bank of Rajasthan can hit Rs 65: Bose

    6th May, 2005 12:36

    Rajat Bose is of the view that Bank of Rajasthan is going to break out. The 10% voting right can be the trigger. It can reach Rs 65 levels.

  • Keep a stoploss of Rs 242 in Cipla:Manghnani

    6th May, 2005 12:24

    Anil Manghnani is of the opinion that charts for long term looks weak for Cipla. Investors must keep a stoploss of Rs 242 in it.

  • Are IPOs empty promises?

    6th May, 2005 12:15

    Big name IPOs found many eager investors rushing to be a part of it. Confusion and inefficiency prevailed and those investors were left grasping at straws.

  • Does my salary include fringe benefits?

    6th May, 2005 12:05

    If you are asking this question but are at a loss for an answer, here’s a handy guide to what items come under the ambit of Fringe Benefits.

  • Krone Communications flares up

    6th May, 2005 11:55

    Krone Communications has touched an intraday high of Rs 134.85 and an intraday low of Rs 123. At 11:40 am the share is quoting at Rs 130.35, up Rs 9.30, or 7.68%.

  • Markets firm: Oil & metal stocks gain

    6th May, 2005 11:44

    The markets are trading firm amid buying in oil, metal, technology, FMCG, and banking stocks. However, some weakness is seen in auto and pharma stocks.

  • Only buyers in Stewarts and Lloyds, stock up

    6th May, 2005 11:36

    Stewarts and Lloyd has touched a 52-week high of Rs 161.65. At 11:24 am the share is quoting at Rs 161.65, up Rs 14.65, or 9.97%.

  • Asian markets ripe for buys: Citigroup

    6th May, 2005 11:28

    Hans Goetti of Citigroup says, the pullback in the Asian markets is a buying oppurtunity. There will also be an upward pressure on Asian currencies, after the yuan

  • Balaji Telefilms puts on a good show

    6th May, 2005 11:18

    Balaji Telefilm has touched an intraday high of Rs 110.50 and an intraday low of Rs 103. At 11:10 am the share is quoting at Rs 109.90, up Rs 7.30, or 7.12%.

  • Surya Roshni flares up

    6th May, 2005 11:12

    Surya Roshni has touched an intraday high of Rs 40.30 and an intraday low of Rs 37. At 11:04 am the share is quoting at Rs 39.80, up Rs 2.90, or 7.86%.

  • Anil Ambani meets Sebi Chief Damodaran

    6th May, 2005 11:05

    Anil Ambani of Reliance group flagship company RIL, met market regulator Sebi Chief, M Damodaran.

  • Zee Telefilms firms up

    6th May, 2005 10:59

    Zee Telefilms has touched an intraday high of Rs 145.70 and an intraday low of Rs 140. At 10:42 am the share is quoting at Rs 145, up Rs 3, or 2.11%.

  • F&O Strategy on Nifty, Satyam

    6th May, 2005 10:41

    F&O Strategy on Nifty and Stayam by KR Choksey.

  • Dr Reddy's gets US FDA nod for sinus drug

    6th May, 2005 10:37

    Dr Reddy's gets US FDA tentative approval for sinus drug.

  • Shoppers' Stop offer price fixed at Rs 238

    6th May, 2005 10:20

    Shoppers' Stop has fixed the offer price at Rs 238 per share. The issue closed on May 4, 2005. It got subscribed 16.96 times.

  • Canara Bank Q4 net profits to fall 22.11%

    6th May, 2005 10:00

    A CNBC-TV18 poll expects Canara Bank to post a 22.11% YoY fall in its net profit for Q4 at Rs 299.2 crore from Rs 384.12 crore. Net interest income should fall 2.1

  • Crude oil prices likely to fall

    6th May, 2005 09:52

    Crude oil prices are more likely to fall than rise as US inventories near a six-year high boosted confidence that refiners will meet peak summer gasoline demand.

  • Guidelines on credit flow to SMEs soon: FM

    6th May, 2005 09:39

    P Chidamabram told CNBC-TV18 that the government would announce guidelines for enhanced credit flow to small and medium enterprises.

  • Stocks in news: ONGC, DRL, Ranbaxy

    6th May, 2005 09:17

    Stocks in news: Flextronics, Dr Reddy's, ONGC, Ondeo Nalco, Shopper's Stop, Thermax, and Ranbaxy.

  • Tony Blair's Labour Party wins elections

    6th May, 2005 09:00

    Prime Minister, Tony Blair's, Labour Party today won an absolute majority of parliamentary seats in Britain's general election, passing the necessary 324-seat mark

  • Asian markets trade higher, Nikkei up 1.41%

    6th May, 2005 08:58

    Asian markets are trading higher. The Nikkei average is up 1.41% amid gains in technology and exporters.

  • Stocks decline on Wall Street

    6th May, 2005 08:48

    Nervous investors sold stocks lower yesterday as the downgrade of bonds issued by General Motors Corp. and Ford Motor Co. undermined the market's confidence and er

  • Brokers bullish on Grasim, Gail, HLL, BOI

    6th May, 2005 08:38

    Brokerage houses are bullish on Grasim, ICICI Bank, Zee Telefilms, Gail, Hindalco, HLL, ICICI Bank, Punjab Tractors, Cadila Healthcare, and BOI.

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