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Moneycontrol News Archive : 12 August, 2008

  • Profit-taking, lower IIP no pull mkts down 

    12th August, 2008 21:46

    Overall, the markets were very sluggish. The IIP numbers at 5.4% also did not go down well with the markets. The numbers was not unexpected, or hugely surprising.

  • Sensex not to cross 16k in near-term: Kotak Mah Bk 

    12th August, 2008 20:29

    C Jayaram of Kotak Mahindra Bank feels that the Sensex was not likely to go above 16,000 in the near-term. He said although the worst was clearly over for the mark

  • Stocks to watch: Sanghvi Movers, Alphageo, Cairn India 

    12th August, 2008 19:40

    V Swaminathan, Director, Upstart Capital, is bullish on Sanghvi Movers, Alphageo, and Zen Technologies from the midcap space.

  • NCDEX- Trade details for August 12, 2008

    12th August, 2008 19:29

    NCDEX, member 508 (1,736 users) participated in trading on August 12, 2008 up to 5:00 pm and volumes were Rs 2,577 crore (one-way). There were more than 71,533 t

  • AEGON Religare Life set to challenge industry paradigms

    12th August, 2008 19:09

    AEGON Religare Life Insurance has started its pan-India multi-channel operations with the launch of 4 products and 2 riders, these are - AEGON Religare Level Term

  • Canara HSBC OBC Life makes a record-breaking entry

    12th August, 2008 18:45

    Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited – a partnership between Canara Bank and Oriental Bank of Commerce, and HSBC Insurance (Asia Pa

  • Fresenius Kabi has closed the acquisition of Dabur Pharma

    12th August, 2008 18:37

    Fresenius Kabi has successfully closed the acquisition of Dabur Pharma Ltd. In April 2008, the company had announced the acquisition of 73.3% of the share capital

  • NSE adds 39 new stocks in F&O from Aug 21

    12th August, 2008 18:26

    Following 39 new stocks will be available for trading in F&O with effect from August 21, 2008. This includes ABG Ship, Akruti City, Everonn Systems, Indiabulls Rea

  • HP to acquire Colubris Networks

    12th August, 2008 18:15

    HP announced that it has signed a definitive agreement to acquire Colubris Networks, Inc., a Waltham, Mass.-based, privately-held global provider of intelligent wi

  • Indian General Insurance Industry Outlook: August 08

    12th August, 2008 17:57

    According to ICRA the Indian general insurance industry is going through a challenging period following de-tariffing of most segments since January 2007. With pric

  • FIIs net buy $101.6 mn in equity on Aug 11

    12th August, 2008 17:53

    FIIs were the net buyers worth USD 101.6 million in equity on August 11, 2008.

  • NHB to acquire 12.5% stake in Mahindra Home Finance

    12th August, 2008 17:46

    Mahindra Rural Housing Finance Ltd. (Mahindra Home Finance), a wholly owned subsidiary of Mahindra & Mahindra Financial Services Ltd announced that the National Ho

  • Landmark Property aims to triple revenues in 09' 

    12th August, 2008 17:16

    Gaurav Dalmia, Chairman of Landmark Holdings said that Landmark Property has three assets under construction, most of these are housing related projects are lookin

  • Arshiya Int'l signs deal of Rs 71cr with Kalmer Industries

    12th August, 2008 17:04

    Arshiya International Ltd, a global supply chain & logistics infrastructure services company signed a purchase deal worth Rs. 71 crore with Finnish equipment manuf

  • Next-Generation Intel PC Chips to carry Intel Core name

    12th August, 2008 16:57

    Intel Corporation announced today that desktop processors based on the company’s upcoming new microarchitecture (codenamed “Nehalem”) will be formally branded “Int

  • Pyramid Saimira to release TZP in Tamil & Telugu

    12th August, 2008 16:52

    Pyramid Saimira to release Taare Zameen Par in Tamil & Telugu. Pyramid Saimira Entertainment Limited, Singapore, a wholly-owned subsidiary of the Pyramid Saimira G

  • Four Soft appoints Rajshekhar Roy as COO

    12th August, 2008 16:48

    Four Soft, a global leader in software solutions for transportation and logistics industry, announced that Mr. Rajshekhar Roy has joined in the capacity of Chief

  • Dabur offers healthy Rakhee gifts

    12th August, 2008 16:37

    Dabur offers healthy Rakhee gifts. Gift your sister a healthy lifestyle this Rakhee. India’s leading natural healthcare company Dabur India Ltd. has introduced hea

  • APAC growth prospects, though pessimistic, remain stable

    12th August, 2008 16:30

    Standard & Poor's has revised down its growth expectations for Asia-Pacific economies in 2008 and 2009. Key conclusions from a quarterly assessment of the region i

  • Reliance a safe pick in Oil: Dutta 

    12th August, 2008 16:20

    Devangshu Dutta, Consulting Editor of Outlook is of the view that Reliance Industries is a safe pick in the oil sector.

  • Bharti Airtel to pilot XIUS-bcgi’s new eCogNito solution

    12th August, 2008 16:07

    Bharti Airtel to pilot XIUS-bcgi’s new end-to-end mobile transaction platform. Bharti Airtel has more than 50 million users. With the company’s current rural initi

  • Panacea Biotech bags $35 m deal from UNICEF 

    12th August, 2008 15:58

    Panacea Biotech has bagged a 35 million dollar deal from UNICEF to supply Pentavalent vaccines. Presently, UNICEF (United Nations Children’s Fund) is the single la

  • Kirloskar Brothers utilise PTC’s Pro/ENGINEER®

    12th August, 2008 15:56

    Kirloskar Brothers utilise PTC’s Pro/ENGINEER® to design pump engineering solution for turnkey Indian irrigation project. In recognition, Kirloskar Brothers was re

  • Balrampur Chini can test Rs 110-115: Bhambwani 

    12th August, 2008 15:50

    Technical Analyst, Vijay Bhambwani is of the view that Balrampur Chini Mills can test Rs 110-115. Sugar as a sector is looking fairly good. It has a potential to b

  • Percept/H appoints Dilip Marathe as Creative Head

    12th August, 2008 15:41

    Dilip Marathe joins Percept/H as Creative Head. Dilip joins Percept/H from Rediffusion, where he has spent over 13 years. Prior to Rediffusion he has worked in age

  • Buy Madhucon Projects: Maheshwari

    12th August, 2008 15:31

    Ashish Maheshwari, MD of India Capital Markets is of the view that one can buy Madhucon Projects. It has target of Rs 400 in 12 months time. In road contracting th

  • SMART unveils a lower cost interactive whiteboard

    12th August, 2008 15:30

    SMART Technologies announces the SMART Board™ V280 interactive whiteboard, priced approximately 30 per cent lower than other SMART Board interactive whiteboards.

  • Exiting IPO depends on mkt conditions: Somerset Fund 

    12th August, 2008 15:27

    Tariq Carrimjee of Somerset India Fund said that the company has invested in 35 IPOs in the last one year. India has assets in excess of USD 100 million in India,

  • Buy ICSA with target of Rs 450: Maheshwari

    12th August, 2008 15:22

    Ashish Maheshwari, MD of India Capital Markets is of the view that one can buy ICSA with target of Rs 450. It has recently also got patents for oil distribution so

  • Power Grid, GSPL, MphasiS top buys with Tata MF

    12th August, 2008 15:18

    Tata Mutual Fund has increased its holding in the banking & financial services, engineering & capital goods, utilities and FMCG sectors. However, the fund house ha

  • ICICI Pru Dynamic bets on IT, pharma; sells oil, media

    12th August, 2008 15:16

    ICICI Pru Dynamic Plan augmented its weightage to IT, pharma, tobacco, telecom, banking & finance, chemical, while slashed its weightage to oil & gas and media sec

  • Buy Sterlite Industries: IIFL

    12th August, 2008 15:08

    IIFL has maintained buy on Sterlite Industries, in its August 11, 2008 report. The stock is trading at a PE of 10x and EV/EBITDA of 4.8x on FY09ii.

  • Reliance Growth buys banking, utilities; sells media, auto

    12th August, 2008 14:59

    Reliance Growth Fund augmented its coverage to banking, utilities, telecom, while pared its weightage to media, auto, IT, foods & beverages sectors.

  • Current margins are sustainable: Greaves Cotton

    12th August, 2008 14:56

    Greaves Cotton has declared its results for the quarter ended June 2008 (Q4).

  • IRB Infra continues to gain

    12th August, 2008 14:55

    At 2:44 pm, IRB Infrastructure Developers was quoting at Rs 161, up Rs 8.30, or 5.44%. It has touched an intraday high of Rs 162.40 and an intraday low of Rs 152.5

  • MFs gaining in popularity for Indian investors: Nielsen

    12th August, 2008 14:46

    According to Nielsen Mutual Fund Brand Health Monitor 4, which gauges consumer attitudes toward Mutual Funds and provides insights on the possible drivers for the

  • BSNL IPO: Merchant bankers to be appointed post union talks

    12th August, 2008 14:41

    Kuldip Goyal, BSNL CMD, said the company will appoint merchant bankers for the IPO only after talks with union. He said they have received positive indication from

  • Enterprises give thumbs up to 'Mobile Messaging Services'

    12th August, 2008 14:34

    ValueFirst Messaging, the leader in enterprise mobile messaging services in India, recently commissioned Symbiosis Institute of Telecom Management to conduct an in

  • Soaring oil prices & housing slump heighten default risk

    12th August, 2008 14:24

    Looking at the additions to Standard & Poor's U.S. weakest links in each month since January, the transportation, finance companies, and homebuilders/real estate s

  • FIIs may return to EMs by mid-2009: Deutsche Bank 

    12th August, 2008 14:16

    Tuan Huyhn, Director & Chief Investment Officer - India and China, Deutsche Bank feels that with a global meltdown going on in housing, global investors are now mo

  • Jaiprakash Asso trips on selling pressure

    12th August, 2008 14:07

    At 1:57 pm, Jaiprakash Associates was quoting at Rs 188.50, down Rs 9.1, or 4.61%. It has touched an intraday high of Rs 201.20 and an intraday low of Rs 187.75.

  • Govt to clarify tax break on natural gas for Pre-NELP  

    12th August, 2008 13:53

    Sources have said that the Oil Ministry is likely to clarify the definition of mineral oil including natural gas. Clarification is only for the first six rounds of

  • India-Brazil poised for cooperation in pharma & healthcare

    12th August, 2008 13:42

    India-Brazil poised for Greater Cooperation in Pharma & Healthcare

  • Indian GDRs: SBI, Mahindra up, Sterlite down 6%

    12th August, 2008 13:34

    Indian GDRs: SBI, Mahindra, Gail, Grasim, RIL, ICICI Bank, L&T, Satyam and Tata Comm gained, while Sterlite plunged.

  • NCDEX launches Futures Trading in Coriander

    12th August, 2008 13:15

    National Commodity & Derivatives Exchange Limited, one of India’s leading commodity futures exchanges, today launched trading in Coriander futures.

  • Remain invested in Sesa Goa: Tulsian 

    12th August, 2008 13:11

    Investment Advisor SP Tulsian is of the view that one can remain invested in Sesa Goa. It has given 1:1 bonus and they have reduced the face value from Rs 10 to Rs

  • Buy gold now at Rs 1057-1060/gm: Normans Martin 

    12th August, 2008 13:04

    Ram Pitre, COO, Normans Martin Advisory Group that at the moment the way gold is falling in the international market. Therefore he feels USD 790 per ounce is very

  • Larsen bags order worth Rs 3816 crore; stock down

    12th August, 2008 13:00

    At 12:51 pm, Larsen and Toubro was quoting at Rs 2,850.10, down Rs 39.8, or 1.38%. It has touched an intraday high of Rs 2,930 and an intraday low of Rs 2,835.50.

  • Stay with Sesa Goa, says Mohoni

    12th August, 2008 13:00

    Technical Analyst, Deepak Mohoni is of the view that one can hold Sesa Goa for long term. Its long-term YoY returns have been one of the best in the market.

  • Hold ONGC: Mohoni 

    12th August, 2008 12:56

    Technical Analyst, Deepak Mohoni is of the view that one can hold ONGC. It’s a very good long-term investment.

  • Rate hike may impact biz growth: ICICI Bank

    12th August, 2008 12:53

    Chanda Kochhar, Joint Managing Director, ICICI Bank said that ICICI rate hikes will impact business growth, reports CNBC-TV18, quoting NewsWire18. “It is too early

  • Bajaj Hindusthan an underperformer: Karvy

    12th August, 2008 12:49

    Karvy Stock Broking has rated Bajaj Hindusthan as an underperformer with a target price of Rs 140. For Q3FY08 (standalone), Bajaj Hindustan Ltd (BHL) reported marg

  • Keep Sanghvi Movers in portfolio: Swaminathan 

    12th August, 2008 12:41

    V Swaminathan, Director of Upstart Capital is of the view that one should keep Sanghvi Movers in the portfolio.

  • Expect great return in Alphageo: Swaminathan 

    12th August, 2008 12:33

    V Swaminathan, Director of Upstart Capital is of the view that on a very small capital base investors are likely to see a great return in Alphageo. This has a clea

  • Trent’s hyper market biz to have an association with Tesco

    12th August, 2008 12:26

    Trent Limited, the retail arm of the Tata Group, today announces an association with Tesco Plc, the UK’s leading retailer and one of the world’s top three leading

  • Tesco to develop cash-and-carry business in India

    12th August, 2008 12:16

    Tesco PLC announces that it intends to develop a wholesale cash-and-carry business in India, with an initial investment of up to Ł60m in the first two years

  • Transcend introduces 64GB High-Speed SLC 2.5

    12th August, 2008 12:07

    Transcend Information Inc., introduced its all-new 64GB high speed SLC 2.5-inch Solid State Disk. Unlike traditional hard disk drives, SSDs are made of reliable NA

  • Tesco plans foray into India for cash & carry biz 

    12th August, 2008 11:58

    Tesco plans foray into India for cash and carry business through it arm which is a 100% subsidiary, reports CNBC-TV18. It will invest 60 million pounds in the firs

  • GMR Ind gains further ground

    12th August, 2008 11:56

    At 11:46 am, GMR Industries was quoting at Rs 93.10, up Rs 9, or 10.70%. It has touched an intraday high of Rs 98 and an intraday low of Rs 87.80. It was trading w

  • Trent marches ahead

    12th August, 2008 11:51

    At 11:40 am, Trent was quoting at Rs 537, up Rs 40.75, or 8.21%. It has touched an intraday high of Rs 543.70 and an intraday low of Rs 492. It was trading with vo

  • Buy Nestle India, target of Rs 1878: KRChoksey

    12th August, 2008 11:35

    KRChoksey Research has maintained its buy rating on Nestle India with a target price of Rs 1878. The Net Sales of Nestle India rose by 23.5% Y-o-Y to Rs 1,035.6 cr

  • Subex surges on large volume

    12th August, 2008 11:32

    At 11:22 am, Subex was quoting at Rs 82.85, up Rs 8.70, or 11.73%. It has touched an intraday high of Rs 84 and an intraday low of Rs 74.45. It was trading with vo

  • Hem Securities neutral on Resurgere Mines & Minerals IPO

    12th August, 2008 11:27

    Resurgere Mines & Minerals India has opened for subscription with its initial public offering (IPO) of 44,50,000 equity shares of Rs 10 each. Hem Securities has co

  • ICICI Bank slips from higher level

    12th August, 2008 11:16

    ICICI Bank has slipped today. At 11:06 am, the share was quoting at Rs 740.80, down Rs 29.95, or 3.89%. It has touched an intraday high of Rs 779.70 and an intrada

  • Buy Bharti Airtel, target of Rs 1036: Hem

    12th August, 2008 11:13

    Hem Securities has initiated a buy rating on Bharti Airtel with a target price of Rs 1036. The company has posted excellent results for Q1FY09. Net sales have grow

  • ONGC can test Rs 1136-1159: N Pillai

    12th August, 2008 11:02

    Neppolian Pillai, Modern Shares & Stock Brokers is of the view that ONGC can test Rs 1136-1159. The risk reward ratio for a buy is not in favour of you now; most t

  • Govt to pay subsidy on time & in cash: Fert Secy 

    12th August, 2008 10:57

    Atul Chaturvedi, Secretary of the Fertiliser Department, said the urea price accounts for gas pricing, capital investment cost and rate of return. He said he has r

  • BHEL can add Rs 300-400: A Chakraborty 

    12th August, 2008 10:47

    Amitabh Chakraborty of Religare Securities feels that BHEL can add Rs 300-400 from current level.

  • Mkts to rally if oil falls below $100/bbl: Raamdeo Agarwal 

    12th August, 2008 10:34

    Raamdeo Agarwal of Motilal Oswal Securities expects strong rally in market if oil falls to USD 70-80 per barrel. Agarwal added that if oil heads to USD 80 per barr

  • Copper touches low of $ 7100/tonne 

    12th August, 2008 10:29

    Base metal prices also have seen a very sharp decline in the recent days trading at multi-month and multi-year low in case of most of them. Copper prices had made

  • Gammon India maintain its march ahead

    12th August, 2008 10:22

    Gammon India has continued to gain. At 10:13 am, the share was quoting at Rs 246, up Rs 12.90, or 5.53%. It has touched an intraday high of Rs 247.75 and an intrad

  • Maruti Suzuki slips on profit booking

    12th August, 2008 10:17

    Maruti Suzuki has slipped today. At 10:07 am, the share was quoting at Rs 693.35, down Rs 22.15, or 3.1%. It has touched an intraday high of Rs 719 and an intraday

  • Panacea Biotech bags $35mn deal, stk rises 7%

    12th August, 2008 10:14

    At 10:04 am, Panacea Biotech was quoting at Rs 325, up Rs 21.10, or 6.94%. The company has bagged USD 35 million deal from Unichef to supply pentavalent vaccines,

  • On risk, survival, decision-making: The HCL way 

    12th August, 2008 10:00

    Ajay Chowdhury and Shiv Nadar are founders of India's fifth largest global IT services company, HCL Technologies. It operates across 18 countries, employs over 40,

  • Mkts retreat on poor IIP nos; metal, banks, IT stks crash

    12th August, 2008 09:54

    Markets retreated on the back of profit booking, disappointing IIP numbers, and negative European and Asian cues. Sell off was seen in rate sensitives, infrastruct

  • Accumulate Crompton Greaves, tgt Rs 288: ULJK Securities

    12th August, 2008 09:47

    ULJK Securities has initiated an accumulate rating on Crompton Greaves with a target price of Rs 288. Good business opportunities in the domestic market supplement

  • Ready-to-serve offices in vogue 

    12th August, 2008 09:46

    The ready-to-use bug has bitten multinational corporations. Now serviced offices are fast becoming their preferred choice. Buy an office and begin operations the n

  • Nifty has supoort at 4471: LKP Shares

    12th August, 2008 09:45

    According to LKP Shares LKP Trendzbeat, For Nifty key support is at 4471 and key resistance is at 4745.

  • Nifty may correct upto 4558: Angel

    12th August, 2008 09:38

    According to Angel Broking Market Outlook report, if Nifty trades below 4,592 for the first half-an-hour of trade then it may correct upto 4,558.

  • Can exit at around 4625-4670 on the Nifty: Modern Shrs 

    12th August, 2008 09:36

    Neppolian Pillai of Modern Shares & Stock Brokers said that the market is good for another 100- point upmove but one should not be overly exuberant. According to h

  • Further upside in local shares seem capped: Khandwala

    12th August, 2008 09:30

    According to Khandwala Securities Market Preview report, after hitting a three-ton yesterday following gains for five weeks in a row, further upside in local share

  • Nifty has resistance at 4580: Karvy

    12th August, 2008 09:22

    According to Karvy Stock Broking Technical Analysis report, Indices have supports placed at the 15150-4530 levels while resistances for the day are placed at the 1

  • See profit-booking in mkts: Religare Securities 

    12th August, 2008 09:18

    Amitabh Chakraborty of Religare Securities said that the markets have done well from July 15 to August 11 because of fall in crude oil prices and strength in the d

  • Sensex has support at 15367-15228: Anagram

    12th August, 2008 09:16

    According to Anagram Research report, the gap created by the Sensex between 15367 and 15228 could act as support.

  • Rupee opens unchanged at Rs 42.16

    12th August, 2008 09:05

    The Indian Rupee opened unchanged at Rs 42.16 per dollar.

  • Sell MCX October Gold at Rs 11400

    12th August, 2008 09:01

    For gold, sell MCX October at Rs 11,400 per 10 grams with a target of Rs 11,250 per 10 grams, says Mathur.

  • Crude tumbles below $113/bbl

    12th August, 2008 08:53

    Oil prices tumbled to a 14-week low near USD 113 per barrel on signs that the US economic slump will extend into 2009, paring fuel demand. In after hours access tr

  • Marks & Spencer sets up new sourcing centre in Bangalore

    12th August, 2008 08:49

    Building scale into its sourcing operations from India, Marks & Spencer Reliance India proposes to source up to 70 per cent of its apparel indigenously.

  • L&T expects defence business to grow

    12th August, 2008 08:42

    Larsen & Toubro Ltd expects to benefit from the changes to the defence procurement procedure that will come into effect shortly, with more manufacturing opportunit

  • KEC International to set up 400 telecom towers

    12th August, 2008 08:36

    KEC International, part of the Rs 13,500-crore RPG Group, engaged in laying of power transmission lines on EPC basis globally, is broadening its business canvas to

  • Equity calls: Choksey, Mahajan 

    12th August, 2008 08:32

    The market is likely to remain firm and the Sensex can go up to 15,800-15,900 where profit booking is expected, says Choksey.

  • Avoid big purchases: Bhambwani

    12th August, 2008 08:30

    The outlook for the markets today is that of continued optimism though the bulls are still hesitant about enhancing commitments on upthrusts. Ignore big purchases.

  • Market cues: FIIs net buy $19.6 mn

    12th August, 2008 08:23

    Market cues: FIIs net buy $19.6 mn. MFs net sell Rs 131.3 cr in equity on Aug 8.

  • Wall St ends with moderate gain; Dow up 48 pts

    12th August, 2008 08:13

    US markets finished higher on the back of that $ 2 drop in crude oil prices. Modest gains were clocked on a day which saw the resurgence of the dollar and sold

  • MF NAVs close higher as markets gain

    12th August, 2008 00:54

    Equity diversified NAVs closed higher with strong advance:decline ratio of 212:2 as markets witnessed spectacular rally as rate sensitives, infrastructure and oil

  • US turmoil sees BPO cos cheering

    12th August, 2008 20:38

    The BPO business will see a pull back in demand by the fourth quarter. Industry leaders say incremental business is coming in from new and existing clients and cos

  • Dhanus Technologies revenues grow by 118%

    12th August, 2008 19:45

    Dhanus Technologies revenues grow by a whopping 118%. For the fourth quarter, the revenue from operations was Rs. 72.8 crores (Rs. 30.9 crores for corresponding Q4

  • Epson develops high-resolution 3D LCD

    12th August, 2008 19:35

    Seiko Epson Corporation has developed a high-resolution (equivalent to QVGA) autostereoscopic 3D liquid-crystal display that affords extra freedom of viewing posit

  • NASSCOM Foundation partners with Zensar in Pune

    12th August, 2008 19:20

    NASSCOM Foundation (NF) the social development arm of NASSCOM (National Association of Software and Service Companies) the internationally recognized trade body of

  • BSLI achieves growth rate of 194% for Q1FY08-09

    12th August, 2008 18:58

    Birla Sun Life Insurance gains Market Share and achieves a growth rate of 194% for Q1 FY2008-09. The total Annualized Premium Equivalent is at Rs 507.4 crores

  • Rupee, bonds end lower

    12th August, 2008 18:42

    The spot rupee ended lower at Rs 42.36 per USD as against its previous close of Rs 42.16. The widely traded 8.24%, 2018 paper closed lower at Rs 95.28 as against i

  • Satyam & RelWare form alliance

    12th August, 2008 18:27

    Satyam Computer Services, Ltd., a leading global consulting and information technology services provider, and RelWare, a leading developer of Web-based solutions f

  • Is Reliance Retail eyeing tie-up with Hamleys? 

    12th August, 2008 18:18

    CNBC-TV18 has learnt that there will be a franchisee agreement between Reliance Retail and the British toy retailer Hamleys. It is a 20-year agreement and they pla

  • TeamLease launches Job Hotline (600 12345) in 11 languages

    12th August, 2008 18:08

    TeamLease Services, India's largest staffing company, today announced that it will launch India’s Job Hotline (600 12345) in eleven languages on Independence day,

  • Mutual Funds net buy Rs 454.8 cr on Aug 11

    12th August, 2008 17:55

    Mutual Funds were net buyers to the tune of Rs 454.8 crore in equity on August 11, 2008.

  • Crude looking for support, could head higher: BNP Paribas 

    12th August, 2008 17:50

    Harry Tchilinguirian of BNP Paribas said right now investors are selling crude, which is looking for support. “There is a little liquidity in terms of being able t

  • ICICI Bank adds 9 lakh shares in open interest 

    12th August, 2008 17:23

    The total turnover in the F&O space was close to about Rs 52,000 crore compared to about Rs 40,000 crore yesterday. ICICI Bank was down about 4% in the spot market

  • McDonald’s announces major marketing initiative

    12th August, 2008 17:13

    McDonald’s launches ‘SAB Lucky,’ a nationwide campaign in exclusive association with General Motors India and Nokia

  • Sub-$100/bbl crude to trigger mkts ahead: JV Capital 

    12th August, 2008 17:04

    Sajiv Dhawan, JV Capital said that if oil had gone up back to USD 120 or 125 per barrel, one would have seen the market slide a lot more and these things have been

  • Reliance Eqty Adv Fund sells oil, IT; buys pharma

    12th August, 2008 16:52

    Reliance Equity Advantage Fund pared weightage to oil & gas, IT, utilities, chemical, metal, telecom and banking sectors, while enlarged its exposure to pharma and

  • Reliance Equity buys pharma; sells metal, IT

    12th August, 2008 16:48

    Reliance Equity Fund augmented its weightage to pharma, banking, engineering, telecom, utilities, but slashed its coverage to metal, IT sectors.

  • Chrysler-M&M in spat over Scorpio's front grill 

    12th August, 2008 16:43

    Chrysler and Mahindra and Mahindra have got into a spat over Scorpio's front grill, reports CNBC-TV18 quoting sources. Chrysler claims M&M copied its jeep front gr

  • Usher Agro aims to be India's second largest rice processor 

    12th August, 2008 16:32

    Usher Agro is scaling up capacities to be the second largest rice processor in India. It will be a processor of non-basmati rice and wheat. Vinod Chaturvedi, Manag

  • Voltamp Transformers has a target of Rs 1025: ULJK

    12th August, 2008 16:23

    According to ULJK Securities' report on Voltamp Transformers, the research firm has re-initiated research on Voltamp transformers limited with one year forward tar

  • Tata Communications gets ISO 27001 Certification

    12th August, 2008 16:09

    Tata Communications, a leading provider of the new world of communications, announced it has achieved the International Organization for Standardization 27001 cert

  • EMC ranked No 1 Network Storage Vendor in India by V&D

    12th August, 2008 16:00

    EMC Corporation, the world leader in information infrastructure solutions, announced that V&D magazine ranked EMC as the number 1 network storage vendor for the fo

  • Book profits in Marico at Rs 67-74: Bhambwani 

    12th August, 2008 15:56

    Technical Analyst, Vijay Bhambwani is of the view that one can book profits in Marico at Rs 67-74.

  • Mkts yet to factor in +ve news: Kotak Sec 

    12th August, 2008 15:55

    Ketan Karani, VP- Research, Kotak Securities was not surprised with the low IIP number that came in at 5.4% as it was expected. He said, “The economy should pickup

  • Hold private sector banking stks: Bhambwani 

    12th August, 2008 15:46

    Technical Analyst, Vijay Bhambwani is of the view that one can hold private sector banking stocks with a stoploss maybe at 4 or 4.5% lower than the current levels

  • NTT Com deploys Juniper Networks T1600 core routers

    12th August, 2008 15:39

    Juniper Networks, Inc., the leader in high-performance networking, announced that Japan’s NTT Communications has deployed Juniper Networks T1600 core routers to s

  • EID Parry a market performer: Karvy

    12th August, 2008 15:30

    Karvy Stock Broking has changed its rating on EID Parry (India) from buy to market performer with a target price of Rs 245. For Q1FY09, EID Parry (I) reported the

  • Genesys surges in APAC mkt share growth:Gartner Dataquest

    12th August, 2008 15:29

    Genesys surges in Asia Pacific market share growth in latest industry analyst report. In IP contact centers, Genesys grew at three times the overall market growth

  • Indo Asian Fusegear not to quit power gen biz 

    12th August, 2008 15:22

    PK Ranade, Joint Managing Director, Indo Asian Fusegear Limited said that the company has not given up power generation as a business avenue. "We are still looking

  • Bank, Power best performer in July: KRChoksey

    12th August, 2008 15:21

    According KRChoksey's India Strategy report, Banks and Power sectors were the best performing sectors in July, whereas Information Technology was the worst perform

  • Reliance Equity Oppo picks engg, oil; dumps IT

    12th August, 2008 15:18

    Reliance Equity Opportunities Fund increased its weightage to engineering, oil, banking, while decreased it exposure to IT.

  • STMicroelectronics, NXP to create wireless semiconductor Co

    12th August, 2008 15:10

    NXP—the independent semiconductor company founded by Philips—and STMicroelectronics, a leader in delivering advanced silicon solutions for mobile products, announc

  • ICICI Pru Infrastructure buys oil, metals; sells utilities

    12th August, 2008 15:08

    ICICI Pru Infrastructure Fund increased its weightage to oil & gas, metal, telecom and services sectors, while decreased its exposure to utilities, chemicals, bank

  • Zee Business enters biz trade show with Int'l Bikex India

    12th August, 2008 14:56

    Zee Business forays into business trade shows with the highly successful International Bikex India.

  • Buy Bombay Rayon; target of Rs 474: IIFL

    12th August, 2008 14:56

    IIFL is bullish on Bombay Rayon Fashions and has recommeded buy rating on the stock with target price of Rs 474.

  • Axis Bank slips on profit booking

    12th August, 2008 14:48

    At 2:38 pm, Axis Bank was quoting at Rs 723.60, down Rs 36.2, or 4.76%. It has touched an intraday high of Rs 769 and an intraday low of Rs 718.90. It was trading

  • Zuari Industries bounces back

    12th August, 2008 14:42

    At 2:33 pm, Zuari Industries was quoting at Rs 336.05, up Rs 20.90, or 6.63%. It has touched an intraday high of Rs 345 and an intraday low of Rs 308.10. It was tr

  • Siemens leads gainers on Nifty

    12th August, 2008 14:35

    Siemens is top gainer on the Nifty. At 2:30 pm, the share was quoting at Rs 581, up Rs 20.50, or 3.66%. It has touched an intraday high of Rs 581.40 and an intrada

  • Templeton MF bets on banking, oil, cap goods

    12th August, 2008 14:29

    Templeton Mutual Fund has increased its holding in the banking & financial services, oil & gas and engineering & capital goods sectors. However, the fund house has

  • Madhucon Projects shoots up smartly

    12th August, 2008 14:16

    At 2:06 pm, Madhucon Projects was quoting at Rs 315.20, up Rs 18.95, or 6.40%. It has touched an intraday high of Rs 319 and an intraday low of Rs 298. It was trad

  • Book profits in ONGC: Tulsian 

    12th August, 2008 14:08

    Investment Advisor SP Tulsian is of the view that one can book profits in ONGC.

  • Religare appoints Kamlesh Dangi as Corporate Head - HR

    12th August, 2008 14:01

    Religare Enterprises appoints Kamlesh Dangi as Corporate Head – HR. Kamlesh joins Religare as a part of the key management team and will drive strategy from people

  • Bangalore Hospital opens cardiac catheterization lab

    12th August, 2008 13:51

    The Bangalore Hospital opens cutting-edge cardiac catheterization lab. The new installation marks a significant progression in the hospital's cardio department, w

  • Aptech to list Chinese holding co in 2-3 mths: Srcs 

    12th August, 2008 13:38

    Aptech will list its Chinese holding company in next two to three months, reports CNBC-TV18 quoting sources. Aptech is eyeing USD 35-40 million via 15-20% equity d

  • BSNL IPO: Merchant bankers to be appointed post union talks

    12th August, 2008 13:30

    Kuldip Goyal, BSNL CMD said that BSNL will appoint merchant bankers for IPO only after talks with the union. He said that they have got positive indication from a

  • Tata Steel takes dip

    12th August, 2008 13:13

    At 1:03 pm, Tata Steel was quoting at Rs 605.50, down Rs 39.3, or 6.09%. It has touched an intraday high of Rs 651.80 and an intraday low of Rs 599.10. It was tra

  • L&T consortium bags EPC orders worth Rs 3816cr

    12th August, 2008 13:07

    Larsen & Toubro Limited in consortium with Global technology partners has secured EPC orders aggregating Rs. 3,816 crores from various customers in the metals indu

  • India Inc +ve on growth story despite low IIP nos 

    12th August, 2008 13:04

    June industrial growth stands at 5.4% versus 8.9% (YoY) versus 3.8% in May. While infrastructure output number stands at 3.4% versus 5.2% (YoY). K Ravi Kumar, CMD

  • F&O turnover stands at Rs 33,000 cr 

    12th August, 2008 13:00

    The market is falling and that too on a high turnover. The total turnover is around Rs 45,000 crore and Rs 33,000 crore is coming from the F&O segment. This has be

  • Impetus celebrates Raksha Bandhan with underprivileged kids

    12th August, 2008 12:57

    Impetus Technologies (www.impetus.com), the pioneers in outsourced product development and engineering services, celebrated Raksha Bandhan with the kids of Noida b

  • Infosys among major losers

    12th August, 2008 12:55

    Infosys Technologies is among major losers on the Sensex At 12:44 pm, the share was quoting at Rs 1,602.80, down Rs 67.3, or 4.03%. It has touched an intraday high

  • UTI MF opens a new Financial Centre at Kalyani

    12th August, 2008 12:50

    UTI Mutual Fund (UTI MF) today announces the opening of a new UTI Financial Centre at Kalyani. The new UFC will be located at B-12/1 Central Park, Kalyani, Distric

  • Bharti Airtel a good bet: R Agrawal 

    12th August, 2008 12:45

    Raamdeo Agrawal, Director and Co-Founder of Motilal Oswal Securities is of the view that Bharti Airtel is one of the good bets in the telecom sector and it should

  • Sony Ericsson unveils James Bond’s latest phone

    12th August, 2008 12:40

    Sony Ericsson is excited to unveil an exclusive partnership between the Metro-Goldwyn-Mayer Pictures/Columbia Pictures release of EON Productions’ 22nd James Bond

  • Sell Ambuja Cements: Indiabulls Securities Research

    12th August, 2008 12:27

    Indiabulls Securities Research is bearish on Ambuja Cements and has recommended sell rating on the stock, in its August 11, 2008 report.

  • Buy Puravankara Projects, target of Rs 302: Karvy

    12th August, 2008 12:23

    Karvy Stock Broking has maintained its buy rating on Puravankara Projects with a target price of Rs 302. Net sales increased by 31% YoY and 2% QoQ.

  • Buy Indian Overseas Bank, target of Rs 165: Karvy

    12th August, 2008 12:16

    Karvy Stock Broking has maintained its buy rating on Indian Overseas Bank with a target price of Rs 165. In 1QFY09, IOB's net interest income reported marginal gro

  • Mundra Port gushes forth

    12th August, 2008 12:00

    At 11:53 am, Mundra Port and Special Economic Zone was quoting at Rs 613.90, up Rs 22.80, or 3.86%. It has touched an intraday high of Rs 623.30 and an intraday lo

  • Will this monsoon hamper India's agri economy? 

    12th August, 2008 11:57

    The monsoon is disappointing and seems to be on doubt, but just how bad could it turn out to be and might hamper India’s agricultural production and beyond that, i

  • GIGABYTE unleashes Intel G45 Express Chipset Motherboard

    12th August, 2008 11:56

    GIGABYTE UNITED INC., a leading manufacturer of motherboards and graphics cards today launched the new GIGABYTE EG45 Series motherboard - GA-EG45M-DS2H.

  • KS Oils witnesses selling pressure

    12th August, 2008 11:40

    At 11:30 am, KS Oils was quoting at Rs 60.20, down Rs 3.7, or 5.79%. It has touched an intraday high of Rs 62.75 and an intraday low of Rs 60. It was trading with

  • Sweet gain for Triveni Engineering

    12th August, 2008 11:35

    At 11:26 am, Triveni Engineering was quoting at Rs 119.65, up Rs 6, or 5.28%. It has touched an intraday high of Rs 122.30 and an intraday low of Rs 113.75. It was

  • HDFC Top 200 Fund buys bank, oil, engg; sells pharma

    12th August, 2008 11:27

    HDFC Top 200 Fund has increased its weightage to banking, oil, engineering, cement, chemical, telecom and auto. However, it sold pharma, tobacco, food and beverage

  • PNB among major losers

    12th August, 2008 11:24

    Punjab National Bank, PNB is among major losers on the Nifty. At 11:20 am, the share was quoting at Rs 499.80, down Rs 17, or 3.29%. It has touched an intraday hig

  • HDFC plunges 4.2%

    12th August, 2008 11:14

    At 11:05 am, HDFC was quoting at Rs 2,460, down Rs 110.1, or 4.28%. It has touched an intraday high of Rs 2,570 and an intraday low of Rs 2,459. It was trading wit

  • Upside left in Unitech, DLF: N Pillai 

    12th August, 2008 11:10

    Neppolian Pillai, Modern Shares & Stock Brokers is of the view that there is some upside still left in DLF, Unitech. If Unitech can cross Rs 194 today then it is g

  • June IIP at 5.4%; Experts see FY09 GDP growth at 7.5% 

    12th August, 2008 11:00

    June industrial growth stand at 5.4% versus 8.9% (YoY), while infrastructure output number stands at 3.4% versus 5.2% (YoY). May industrial growth has been revised

  • Chakraborty bullish on banking space 

    12th August, 2008 10:55

    Amitabh Chakraborty of Religare Securities is bullish on banking space.

  • Buy DLF, target of Rs 615: KRChoksey

    12th August, 2008 10:45

    KRChoksey Research has recommended a buy rating on DLF with a target price of Rs 615. Sales grew 24% y-o-y to Rs 3,810.6 crore in Q1FY09. There was a 12% decline i

  • Sell Copper MCX 1st Month Future at 307: Hem

    12th August, 2008 10:33

    Hem Securities has recommended to sell Copper MCX 1st Month Future at 307 with a stoploss of 310 and target of 302 in its August 12, 2008 research report.

  • Buy Pepper-Sept above 14100: India Infoline

    12th August, 2008 10:27

    India Infoline has recommended to buy Pepper-Sept above 14100 with a target price of 14230, 14350, 14440 and a stoploss of 14040 in its August 12, 2008 research re

  • Firstsource Solutions trips on selling pressure

    12th August, 2008 10:20

    At 10:11 am, Firstsource Solutions was quoting at Rs 38.95, down Rs 1.65, or 4.06%. It has touched an intraday high of Rs 41 and an intraday low of Rs 38.60. It wa

  • Nifty has support at 4580/4541: Hem

    12th August, 2008 10:16

    According to Hem Securities Morning Note, Nifty is having resistance at 4645/4679 while Support is at 4580/4541 levels.

  • Monnet Ispat close to buy an Indonesian co, stk up

    12th August, 2008 10:02

    At 09:58 am, Monnet Ispat was quoting at Rs 523.80, up Rs 5.80, or 1.12% on the NSE. The company is close to buying an Indonesian coal mining co for USD 50 millio

  • Cricket mania: Where will advertisers put their money? 

    12th August, 2008 09:58

    The surfeit of cricket is giving advertisers, broadcasters and administrators a heartburn. September starts with the ICC Champions Trophy, that’s on ESPN Star and

  • Brokers bullish on Bombay Rayon, ONGC, ACC

    12th August, 2008 09:50

    Brokerage houses are bullish on Bombay Rayon, ONGC, ACC, Orchid Chem, Balrampur Chini and Renuka Sugars,

  • IIP number likely to be around 5.95%

    12th August, 2008 09:47

    This time around if one looks at the poll, while the average is 5.95% or close to 6%, there are many people who believe that the number could actually be 8-9% but

  • Nifty has resistance at 4664-4691: India Capital Markets

    12th August, 2008 09:46

    According to India Capital Markets Technical Outlook, Nifty has a support at 4581 & 4544 and faces resistance at 4664 & 4691.

  • Nifty may test 4680-4710: Angel

    12th August, 2008 09:42

    According to Angel Broking Technical Analysis report, on the upside, indices will test the levels of 15789–15900/4680–4710 levels, if it trades above 15520/ 4625 l

  • US mkts gain on decline in oil price 

    12th August, 2008 09:37

    Stocks start the week on an up note thanks to a decline in the price of oil. The Dow finished the day with a 48 point gain though it did come off an earlier triple

  • Nifty futures adds 15 lakh shares in OI 

    12th August, 2008 09:32

    FIIs net bought Rs 445 crore in Nifty futures and net bought Rs 329 crore in Nifty options. Stock futures shed 16 lakh shares in open interest (OI).

  • Fake currency notes seized from SBI branch

    12th August, 2008 09:23

    Economic terrorism is probably knocking at the door. Or so it seems - fake currency notes worth Rs 2 crore were seized from the State Bank of India or SBI branch

  • Inflation not a problem in Japan: Asia Pac Asset Mgmt. 

    12th August, 2008 09:19

    James Chirnside, CIO of Asia Pacific Asset Management on speaking to CNBC-TV18 said, “Inflation at a domestic level in Japan is a good thing because it will bring

  • Cipla, Roche patent battle to resume at Delhi HC

    12th August, 2008 09:16

    The big patent battle between global pharma giant Roche and Indian generics major Cipla has started again. The hearings have resumed at the Delhi high court.

  • Support for Sugar seen at 1770-1740: Anagram

    12th August, 2008 09:15

    Anagram Research has come out with its report on Agri commodity. According to the research report support for Sugar is seen around 1770-1740 and resistance at 1900

  • Expect upward momentum: Mohoni

    12th August, 2008 09:02

    European markets were strong last night, and the US indices rose further. Asian markets are mixed this morning, with the Nikkei down and the Hang Seng up. The glob

  • Slipping crude remains central cue for mkts 

    12th August, 2008 09:00

    Global cues are a bit quiet. Crude is still slipping and it’s now below USD 114/bbl taking a whole host of commodities with it, that’s the central cue for the mark

  • Oil India public offer likely in October

    12th August, 2008 08:51

    The Oil India Ltd IPO is likely to open in October. The tentative decision on IPO timing follows the recent approval by the Centre for appointing six new independe

  • Money calls: Ramkumar, Nanivadekar

    12th August, 2008 08:46

    The sentiment in the bond market is likely to be positive on further dip in crude prices. The liquidity situation expected to improve, says Ramkumar.

  • Stocks in news: FDC, BHEL, Monnet Ispat

    12th August, 2008 08:37

    Stocks in news: FDC has board meet on buyback. BHEL has bagged 57 mn euro order from Senegal project. Monnet Ispat is close to buying an Indonesian coal mining co

  • Support for the Nifty at 4435: Gaba

    12th August, 2008 08:34

    The support for the Nifty is at 4435 and the resistances to the up move is at 4668-4723.

  • Idea may take Rs 350-cr hit on Spice equity buy

    12th August, 2008 08:31

    Aditya Birla Group-backed Idea Cellular may lose as much as Rs 350 crore if it wants to fructify its proposed acquisition of equity stake in Spice Communication.

  • F&O cues: Futures Open Int up by Rs 1488 cr

    12th August, 2008 08:27

    F&O cues: Stock Futures shed 16 lakh shares in Open Int . Futures Open Int up by Rs 1488 cr, Options Open Int up by Rs 1928 crore.

  • Indian ADRs: Sterlite down 6%, Satyam up

    12th August, 2008 08:16

    Indian ADRs: Sterlite plunged, while Wipro, ICICI Bank, Tata Comm, Satyam gained.

  • Asian markets end lower

    12th August, 2008 08:00

    Asian markets ended lower. China's Shanghai Composite slipped 0.52% or 12.876 points at 2,457.198. Japan's Nikkei plunged 0.95% or 127.31 points at 13,303.60. Hong

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