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Moneycontrol News Archive : 12 February, 2008

  • Mutual Fund NAVs end sharply lower

    12th February, 2008 23:24

    Equity diversified NAVs ended sharply lower with negative advance:decline ratio of 10:190 yesterday as the markets traded with volatility for most part of the day

  • J Kumar Infra sees FY09 sales at Rs 450 cr 

    12th February, 2008 22:15

    J Kumar Infraprojects (JKIL) listed at Rs 109, vs its offer price of Rs 110 per share. Nalin Gupta, Executive Director, said FY09 sales are seen at Rs 450 crore, w

  • AP cuts sales tax on jet fuel from 33% to 4%

    12th February, 2008 20:19

    The Andhra Pradesh government has cut sales tax on jet fuel from 33% to 4%, reports CNBC-TV18.

  • Mkts can fall another 7%: India Infoline 

    12th February, 2008 18:33

    Speaking to CNBC-TV18, Nirmal Jain, MD, India Infoline, said the market can fall another 5-7% and stabilize at lower levels. Global hedge funds are finding it diff

  • KIM ENG Secs bullish on Kalpataru Power, Apar Ind 

    12th February, 2008 18:24

    Jigar Shah, Senior Vice-President and Head of Research, KIM ENG Securities, is bullish on Kalpataru Power and Apar Industries. Kalpataru Power has a presence in pi

  • NCDEX-Trade details for February 12, 2008

    12th February, 2008 18:05

    NCDEX, 506 members (2,364 users) participated in trading on February 12, 2008 up to 5:00 pm and volumes were Rs 2,472 crore (one-way). There were more than 69,94

  • Rupee ends higher

    12th February, 2008 17:54

    The spot rupee ended higher at 39.66 per USD as against its previous close of Rs 39.69.

  • Bullish on power: Gartmore Investment Management 

    12th February, 2008 17:44

    Christopher Palmer of Gartmore Investment Management has a view that the way they are approaching India right now is by simply defining and advancing prices and al

  • Tata wants excise cut across all passenger vehicles 

    12th February, 2008 17:40

    Tata Motors may use automotive mission plan to seek some fiscal incentives for its small car Nano. Tata Motors' MD Ravi Kant said, “We have asked for a uniform exc

  • Tata AIG Life launches InvestAssure Future

    12th February, 2008 17:30

    Tata AIG Life Insurance Company Limited today announced the launch of InvestAssure Future, its unit-linked pension plan. InvestAssure Future is designed to help t

  • Bring down excise duty on cement to 6%: Binani

    12th February, 2008 17:25

    Vinod Juneja, Deputy Managing Director, Binani Group expects a boost to be given to the power sector to enhance the prospects for the cement industry. He expects s

  • Don't see knee jerk reaction below 16k: Mangal Keshav 

    12th February, 2008 17:17

    Speaking to CNBC-TV18, JP Sinha of Mangal Keshav said he does not see a knee-jerk reaction below 16,000. He added that if it happens, it is a good opportunity to b

  • Fuel price hike unlikely before Budget: ONGC

    12th February, 2008 17:14

    Oil and Natural Gas Corporation of India, or ONGC, said the decision on a fuel price hike is unlikely before the Budget, reports CNBC-TV18, quoting Newswire18. The

  • BAE Systems,Mahindra Defence to dvlp mine protected vehicle

    12th February, 2008 17:01

    BAE Systems and Mahindra Defence to discuss joint development of Indian mine protected vehicle

  • Anand Rathi Comm sees crude above $100/bbl in near-term 

    12th February, 2008 16:49

    In an exclusive interview to CNBC-TV18, Kishore Narne, VP of Anand Rathi Commodities said, it was time to go long on crude. He said, “We can probably take a risk o

  • SBI, Bank of India look fairly attractive: Bhambwani 

    12th February, 2008 16:35

    Vijay Bhambwani is of the view that SBI, Bank of India these are banks in the PSU space that look fairly attractive. HDFC, ICICI Bank amongst the private sector ba

  • Feb 11 crash similar to May '06 correction 

    12th February, 2008 16:27

    Correction like this compels comparison with that May fall that we saw. Lot of comparables can be drawn to May 2006. The May 2006 correction started with a minor s

  • Mercer launches investment consulting business in India

    12th February, 2008 16:21

    Mercer, one of the world’s largest investment consulting firms, has launched its investment consulting business in India. Mercer will commence operations by resear

  • FY09 to see modest revival in consumption story: Yes Bank 

    12th February, 2008 16:20

    Commenting on the December IIP numbers numbers, Yes Bank’s Shubhada Rao said FY09 will see a modest revival in the consumption story. Going forward into next year,

  • Banks, cap goods top picks: Prabhudas Lilladher 

    12th February, 2008 16:01

    Sharmila Joshi of Prabhudas Lilladher feels that sectors like banking or capital goods look very attractive, given the kind of horizons they have over the next cou

  • Buy Sobha Developers, target Rs 1408: Emkay

    12th February, 2008 16:00

    Emkay Research has maintained buy rating on Sobha Developers with target price of Rs 1408. The company has a land bank of 224 million square feet across 10 cities

  • Extend SEZ benefits to all exporting units: Alkem Labs

    12th February, 2008 15:55

    Samprada Singh, Chairman, Alkem Laboratories said his expectations from the Budget are that SEZ benefits should be provided to all the exporting units across the c

  • Everonn Systems acquires TOPPERS Tutorial

    12th February, 2008 15:45

    Everonn Systems India Limited acquires TOPPERS Tutorial Private Ltd., Bihar’s most successful IIT Entrance Coaching Centre

  • IT starting to show signs of performance now: CLSA

    12th February, 2008 15:36

    Laurence Balanco of CLSA said that as far as IT stocks are concerned, they have underperformed the market for sometime now. He added that on a relative basis, they

  • NETGEAR India appoints Ingram Micro as national distributor

    12th February, 2008 15:28

    NETGEAR Technologies India Pvt.Ltd., a worldwide provider of technologically advanced, branded networking and security products, has strengthened its distribution

  • Banks should pay attention to home loan needs: FM 

    12th February, 2008 15:25

    The FM, at a press conference post meeting with bankers, announced that all targets for FY08 are likely to be met. He said, "Productive sectors have not been starv

  • Limited downside in Balaji Telefilms: Gaba 

    12th February, 2008 15:19

    Technical Analyst, Prakash Gaba is of the view that there is a limited downside in Balaji Telefilms. We have seen a high of around Rs 388; it?s available at half t

  • How can Budget empower auto ancillary industry? 

    12th February, 2008 15:05

    To make the Indian auto ancillary industry more competitive, Deepak Jain of Lumax Industries suggests that the Budget should provide a policy that can help his i

  • Bear hold: Stocks near 200 DMA 

    12th February, 2008 15:04

    Yesterday, the Nifty closed below its 200 DMA, a CNBC-TV18 analyst said. There is a clear divide among Sensex stocks. Some stocks have dipped below their 200 DMA w

  • Budget '08: What are SEZ developers eyeing? 

    12th February, 2008 15:00

    According to Anita Arjundas, Mahindra Lifespace Developers, whenever a company acquires farmers’ lands for SEZs, whatever it does needs to be fair and equitable. S

  • Axis Bank bounces back

    12th February, 2008 14:58

    At 2:52 pm, Axis Bank was quoting at Rs 992.10, up Rs 64, or 6.90%. It has touched an intraday high of Rs 997 and an intraday low of Rs 921.60. It was trading with

  • Buy JK Tyre; target of Rs 205: Pinc Research

    12th February, 2008 14:58

    Pinc Research is bullish on JK Tyre and Industries and has recommended buy rating on the stock with a one year target price of Rs 205. At the CMP of Rs 139, JKI is

  • Hold SBI, says A Jain 

    12th February, 2008 14:53

    Anu Jain of Omniscient Securities is of the view that one can hold SBI. The stock has short-term resistance at Rs 2250 and there is tremendous strength at about Rs

  • 13 State Govt announce auctions of SDL 2018

    12th February, 2008 14:43

    Thirteen State Governments announce auctions of State Development Loans 2018 for Rs. 7,778.980 crore on February 15

  • Welspun Gujarat recovers sharply

    12th February, 2008 14:36

    At 2:30 pm, the share was quoting at Rs 409.50, up Rs 27.85, or 7.30%. It has touched an intraday high of Rs 413 and an intraday low of Rs 381.05. It was trading w

  • ADAG stocks see huge selling  

    12th February, 2008 14:32

    If one looks at Adlabs, it rallied about 70% from December to January 9, peaked and sold off about 54%, reports CNBC-TV18's Anichya Shah. Reliance Capital, Relianc

  • Liquidity Adjustment Facility: Auction results

    12th February, 2008 14:30

    Liquidity Adjustment Facility: Auction results

  • GAIL India advances 4.2%

    12th February, 2008 14:18

    At 2:11 pm, GAIL India was quoting at Rs 402.50, up Rs 16.55, or 4.29%. It has touched an intraday high of Rs 402.50 and an intraday low of Rs 380. It was trading

  • Hold Infosys, says A Jain 

    12th February, 2008 14:16

    Anu Jain of Omniscient Securities is of the view that one can hold Infosys. Once it crosses Rs 1,605 then some semblance of strength because it is still way below

  • TCS takes dip

    12th February, 2008 14:13

    At 2:07 pm, Tata Consultancy Services, TCS was quoting at Rs 870, down Rs 33.2, or 3.68%. It has touched an intraday high of Rs 920 and an intraday low of Rs 867.

  • Cairn India shoots up samrtly

    12th February, 2008 14:02

    At 1:56 pm, Cairn India was quoting at Rs 204.75, up Rs 14.80, or 7.79%. It has touched an intraday high of Rs 207.90 and an intraday low of Rs 186.05. It was trad

  • Reliance top gainer on the Sensex

    12th February, 2008 13:58

    Reliance Industries is top gainer on the Sensex. At 1:49 pm, the share was quoting at Rs 2,394.90, up Rs 120.05, or 5.28%. It has touched an intraday high of Rs 2,

  • Sensex could touch 12,500 in sharper bear mkt: Jai Bala  

    12th February, 2008 13:54

    Speaking to CNBC-TV18, Jai Bala of cashthechaos.com said if we have to look at a milder bear market, we are probably looking at something in the region of 14,700 o

  • ITC, Zee Ent, Dr Reddys top picks with HDFC MF

    12th February, 2008 13:29

    HDFC Mutual Fund has increased its exposure to auto, metal, banking & financial service, pharmaceuticals, information technology, and FMCG sectors. ITC, Zee Entert

  • Radio sector voices its Budget expectations 

    12th February, 2008 13:18

    To share up ad revenues, private radio players want the government to allow the broadcast of news and current affairs, raise the FDI cap from the current 20% to at

  • Stay cautious on Rel Power till 2011-2012, say experts 

    12th February, 2008 13:13

    Rajen Shah of Angel Broking believes that Reliance Power may start making profits in 2013. He said there will be many bad times before that in the markets and that

  • Wipro signs MoU with SASTRA University, Thanjavur

    12th February, 2008 13:05

    Wipro has signed a MoU with SASTRA University, Thanjavur to take its ongoing collaboration with the institution to the next level

  • Netxcell, SinglePoint to deliver services to mobile users

    12th February, 2008 12:47

    NetXcell Ltd, announced that they have partnered with SinglePoint which is US based mobile aggregator and media interactivity expert in mobile, to deliver value ad

  • Telecom Leaders join Intense’s Co-Creation Initiative

    12th February, 2008 12:37

    The Co-Creation initiative known as ITAG (Intense Technology Advisory Groups), are mandated to meet twice every year to air, document and deliberate on emergent cl

  • Indian Bank backs on track

    12th February, 2008 12:34

    At 12:29 pm, Indian Bank was quoting at Rs 215, up Rs 10.85, or 5.31%. It has touched an intraday high of Rs 217.10 and an intraday low of Rs 206.15. It was tradin

  • Canara Bank reduces its Benchmark PLR rate by 25bps

    12th February, 2008 12:22

    Canara Bank has reduced its Benchmark PLR rate by 25bps with effect from 16-02-2008

  • Fitch assigns A-(ind) rtg to Puravankara Projects' LTD Prog

    12th February, 2008 12:15

    Fitch Ratings has assigned a National Long-term rating of 'A-(ind)' (A minus(ind)) to Puravankara Projects Limited's INR5000 million Long-term debt programme. The

  • Dec IIP nos in-line with expectation: I-Sec 

    12th February, 2008 12:07

    December industrial growth numbers have been reported at 7.6% versus 13.4% (YoY). A Prasanna, Chief Economist, of ICICI Securities said the numbers are broadly in-

  • Block deal in Apollo Tyres, stock down

    12th February, 2008 11:59

    At 11:54 am, Apollo Tyres was quoting at Rs 41.80, down Rs 0.8, or 1.88%. Apollo Tyres has touched an intra day high of Rs 44.10 and an intra day low of Rs 41.50.

  • Buy Visa Steel, target Rs 72: PINC

    12th February, 2008 11:55

    PINC research has maintained buy rating on Visa Steel with target price of Rs 72. At the CMP of Rs 48, the stock trades at a P/E of 7.1x and EV/EBIDT of 8.1x disco

  • Vivimed Labs to buy Yule Catto, stk up

    12th February, 2008 11:52

    At 11:46 am, Vivimed Labs was quoting at Rs 100.85, up Rs 1.35, or 1.36%. It has touched an intraday high of Rs 102 and an intraday low of Rs 99. The company is go

  • India Infoline invests in subsidiary; stock down

    12th February, 2008 11:42

    At 11:35 am, the share was quoting at Rs 1,003, down Rs 19.9, or 1.95%. It has touched an intraday high of Rs 1,055 and an intraday low of Rs 970.25. The company h

  • Solid gains for SAIL

    12th February, 2008 11:35

    At 11:29 am, Steel Authority of India, SAIL was quoting at Rs 193.55, up Rs 7.70, or 4.14%. It has touched an intraday high of Rs 197 and an intraday low of Rs 185

  • Broadly positive on power, infra stocks: Tata MF 

    12th February, 2008 11:29

    Ved Prakash Chaturvedi, Managing Director Of Tata Mutual Fund said that the market has been taking the current sentiments to extremes. He predicts that the market

  • Avoid power stocks: Bose 

    12th February, 2008 11:11

    Technical Analyst, Rajat K Bose is of the view that one can ignore power stocks. The sentiment in power stocks has stung badly and the charts are reflecting that.

  • Reliance Energy top loser on the Sensex

    12th February, 2008 10:50

    Reliance Energy is the top loser on the Sensex. At 10:46 am, the share was quoting at Rs 1,490.50, down Rs 91.8, or 5.8%. It was trading with volumes of 362,924 sh

  • Buy Punj Lloyd on declines: Vijay

    12th February, 2008 10:34

    Portfolio Manager, PN Vijay is of the view that one can buy Punj Lloyd on declines. It has been beaten down in this minicrash. So it is a high tech infrastructure

  • Don't sell Reliance Power: Vijay

    12th February, 2008 10:23

    Portfolio Manager, PN Vijay suggests that one shouldn't sell Reliance Power at this level because it got really beaten down and there might be some bottom fishing

  • Indian GDRs: ITC slips 8.3%, VSNL up 9.2%

    12th February, 2008 10:15

    Indian GDRs: ITC, L&T, Reliance, SBI, HDFC Bank, Dr . Reddy's, Ranbaxy, MTNL, Infosys and Wipro plunged, while VSNL ans Satyam gained.

  • MCX Feb crude opens lower 

    12th February, 2008 10:09

    Crude, from USD 94.72/bbl of a high yesterday, has come down below USD 93/bbl at this point in time but most factors are quite supportive here. US refineries shutd

  • ICICI Bank among major gainers

    12th February, 2008 10:05

    ICICI Bank is among major gainer on the Nifty. At 10:03 am, the share was quoting at Rs 1,065.40, up Rs 31.55, or 3.05%. It was trading with volumes of 61,042 shar

  • Reliance Power may see more supply 

    12th February, 2008 10:02

    Reliance Power got crunched quite a bit towards the end. The kind of reactions it has evoked across the country, there would be a bit of a salvage operation over t

  • Satyam surges 12%

    12th February, 2008 09:57

    Satyam Computer Services has continued to gain. At 09:56 am, the share was quoting at Rs 475, up Rs 50.80, or 11.98% on the NSE. The ADR was up 1.58%. It was tradi

  • Globus Spirits defers public issue

    12th February, 2008 09:54

    Delhi-based alcohol beverage company Globus Spirits has postponed its public issue. It was scheduled to open on February 19 and close on February 22, 2008. This is

  • See trouble if Nifty retests 200 DMA at 4,980: Rajat Bose 

    12th February, 2008 09:47

    Rajat Bose of rajatkbose.com said that if 4759 is breached on a sustained basis, the market is likely to retest 4500 levels. Speaking to CNBC-TV18, he said that he

  • Mkts end with modest cut; midcap, realty, power stocks drag

    12th February, 2008 09:38

    The markets saw bounce back in early trade today on the back of some support from gobal cues but could not maintain the gains for long and traded with volatility f

  • UTI MF terminates 15-year-old scheme 

    12th February, 2008 09:30

    UTI Mutual Fund has terminated its 15-year-old scheme, leaving 75,000 investors without the health insurance cover they had been promised at the scheme's inception

  • US stocks gain as oil shares surge 

    12th February, 2008 09:21

    The markets ended Monday session on an up note with the Dow gaining 58 points and the Nasdaq gaining by 15 points. Technology stocks got a boost from Yahoo’s rejec

  • Mkts may trade on low volumes today 

    12th February, 2008 09:04

    The market sentiment is bad; yesterday's performance has destroyed investor-sentiment. We may see low volume trades; greater participation is unlikely. Even if the

  • Rupee opens at Rs 39.67 per dollar

    12th February, 2008 09:00

    The Indian Rupee opened at Rs 39.67-39.68 per dollar versus Rs 39.69 yesterday.

  • Buy MCX Feb Crude at Rs 3700

    12th February, 2008 08:52

    One could buy MCX February Crude at Rs 3,700 per barrel, says Kumar.

  • Stocks in news: Vijaya Bank, XL Telecom

    12th February, 2008 08:46

    Stocks in news: Vijaya Bank rates by 0.25 to 3.0 pct points on home, SNE, agri loans. XL Telecom has bagged Rs 234 cr export order for solar panels to Europe.

  • Equity calls: Kumar, Mehta, Sukhani 

    12th February, 2008 08:42

    The market is likely to open positive on encouraging global cues. Short covering across the board will help upward movement in the market and the potential for dow

  • Revenues to rise 33% this fiscal: Nasscom

    12th February, 2008 08:39

    The Indian IT-BPO industry will exhibit a 33.3 per cent growth in revenues to reach $64 billion by the end of fiscal 2008, as against $48 billion reported

  • Kingfisher to tie up with foreign schools for pilots

    12th February, 2008 08:36

    A tie-up between Kingfisher Airlines (KFA) and aviation schools in the US and Australia is imminent, and the company will induct students who have been trained at

  • Moser Baer to invest $1.5 b in thin film unit

    12th February, 2008 08:31

    Optical storage disc maker Moser Baer India Ltd has announced an investment of $1.5 billion to set up a thin film photovoltaic capacity plant, reports Business

  • Fund Action witnessed in stocks on 11th February

    12th February, 2008 08:30

    On February 11, fund action was witnessed in KEI Industries, Mukand, Alchemist Realty, Shree Ashtavinayak Cine Vision and Venus Remedies.

  • Asian markets end mixed; Hang Seng up 305 points

    12th February, 2008 08:27

    Asian markets ended. Hong Kong's Hang Seng rose 1.35% or 305.56 points at 22,921.67. South Korea's Seoul Composite was up 0.16% or 2.62 points at 1,643.29. However

  • F&O cues: Futures Open Interest down by Rs 3664 cr

    12th February, 2008 08:19

    F&O cues: Stock Futures shed 3 cr shares in OI despite addition of 47 lakh shares in Rel Power. Futures Open Interest down by Rs 3664 crore and Options Open Intere

  • Experts reaction mixed on Cords Cable listing

    12th February, 2008 22:56

    Cords Cable Industries, a specialised cable manufacturer for variety of industries, will list on the bourses with its equity shares on February 13, 2008. The offer

  • SVEC Constructions withdraws IPO

    12th February, 2008 21:36

    There is one more sufferer of this weak market conditions after Emaar MGF, Wockhardt Hospitals and Globus Spirtis. SVEC Constructions also has withdrawn its IPO du

  • Warren Buffett rescues troubled bond insurers

    12th February, 2008 20:16

    Billionaire Warren Buffett has come to the rescue of the troubled bond insurers in the US. Buffett has offered to reinsure USD 800 billion in municipal bonds now i

  • M&M looking to acquire more R&D firms 

    12th February, 2008 18:30

    Mahindra & Mahindra may have missed out on bagging Land Rover, but it's working on other ways to enhance its resources to make Mahindra a global sports utility veh

  • Mumbai braces for Raj Thackeray's arrest

    12th February, 2008 18:17

    Tension gripped Mumbai on Tuesday in anticipation of violence following possible arrest of Maharashtra Navnirman Sena (MNS) chief Raj Thackeray, reports IBN Live.c

  • Yahoo's response unfortunate: Microsoft

    12th February, 2008 17:59

    Microsoft says Yahoo!'s rejection of its multibillion dollar buyout offer is unfortunate, reports CNBC-TV18. Microsoft said the response from Yahoo! does not chang

  • TCS unveils new, agile organization structure

    12th February, 2008 17:52

    Tata Consultancy Services unveils new, agile organization structure to fuel next phase of growth

  • Symantec shores up HDFC Bank’s IT Governance Posture

    12th February, 2008 17:40

    Symantec shores up HDFC Bank’s IT Governance Posture

  • H'bad intl airport to be operational from Mar 16

    12th February, 2008 17:34

    Hyderabad will soon be connected to the world. The first test flight made a safe landing at the airport in the last hour. The new airport will be commercially ope

  • Debt market be developed akin to equity: Birla MF

    12th February, 2008 17:30

    Union Budget 2008-09 should consider innovative ways of luring investor’s savings into long-term debt products through mutual funds by offering incentives.

  • Roche Diagnostics, Mankind Pharma enters into alliance

    12th February, 2008 17:21

    Roche Diagnostics and Mankind Pharma enters into a strategic Marketing and Distribution alliance for “Accu Check – Go

  • Clear need to reduce taxes on telecom: IDEA Cellular

    12th February, 2008 17:16

    Sanjeev Aga, CMD, IDEA Cellular Ltd feels that the total taxation on telecom services is very high. He wants the Union Budget 2008 to address this concern of his i

  • CRISIL 'AA+/STABLE' for Kirloskar Brothers

    12th February, 2008 17:11

    Kirloskar Brothers Limited, the largest pump manufacture & turnkey contractor in India, has been awarded the ‘AA+/Stable’ rating by CRISIL a premier rating agency

  • Realty developers adopt 'wait and watch' for IPOs 

    12th February, 2008 16:56

    It’s the Emaar effect, just days after the curtains fell on Emaar MGF's big bang IPO, two other Delhi based real estate players, the Uppal Group and Faridabad’s BP

  • ARM celebrates ten years at the heart of mobile phones

    12th February, 2008 16:42

    ARM celebrated a major milestone at Mobile World Congress, Barcelona –10 years since the launch of the iconic ARM Powered® Nokia 6110, the first mass-market phone

  • SKS Microfinance to expand network across Bihar

    12th February, 2008 16:30

    SKS Microfinance, one of the world’s leading microfinance companies, plans to expand its operations to cover most districts in Bihar and reach out to 3 lac poor ho

  • Won't leave long position in current mkt: Bhambwani 

    12th February, 2008 16:27

    Technical Analyst of Vijay Bhambwani BSPLindia.com said that he would not leave a long position in a market like this one. “If I want to get aggressive, I would tr

  • IT can move 5-7% higher: Bhambwani 

    12th February, 2008 16:21

    Vijay Bhambwani is of the view that IT can move 5%-7% higher from here as he feels it is still in a falling tops and falling bottoms group and there would be treme

  • Tadiran Telecom bullish on North India

    12th February, 2008 16:11

    Tadiran Telecom Ltd, an established innovator in telecommunications for more than 35 years, along with its business partner HCL, today announced its plans & strate

  • SDB CISCO conferred F&S “Emerging Company of the Yr” Award

    12th February, 2008 16:01

    SDB CISCO conferred the Frost & Sullivan “Emerging Company of the Year” Award for Electronic Security Systems Integration (India) 2007

  • Reliance Power adds 20 lakh shares in OI

    12th February, 2008 15:59

    About 25% of the turnover came from the entire Reliance pack; Reliance Power stock in focus yesterday and in today’s trade has added about 20 lakh shares in open i

  • Sonata launches SonnetPORTAL

    12th February, 2008 15:54

    Sonata launches Solution Accelerator Framework on Microsoft Office SharePoint Server 2007

  • J Kumar Infra ends below issue price

    12th February, 2008 15:36

    A civil engineering and infrastructure development company, J Kumar Infraprojects (JKIL), has ended the day at Rs 103.35, a 6% discount to its issue price of Rs 11

  • Need for tax cuts for corporates: Lotus India AMC

    12th February, 2008 15:29

    Ajay Bagga, CEO, Lotus India AMC said his expectations from the Budget are that there will be enhanced allocation and speedy execution in infrastructure, education

  • Kalpataru Power has target of Rs 1800-2000: J Shah

    12th February, 2008 15:26

    Jigar Shah, Senior VP & Head of Research of KIM ENG Securities is of the view that Kalpataru Power has target of Rs 1800-2000. It is growing through the other bus

  • Replacement of scrips in BSE Indices

    12th February, 2008 15:20

    Replacement of scrips in BSE Indices

  • ICICI Prudential Life ties-up with UAE Exchange House

    12th February, 2008 15:10

    ICICI Prudential Life, announced it’s partnership with the Dubai-based UAE Exchange House. This tie-up will enable non-resident Indian customers of ICICI Prudenti

  • Apar Industries can gain 25-30%: J Shah 

    12th February, 2008 15:04

    Jigar Shah, Senior VP & Head of Research of KIM ENG Securities feels that Apar Industries can gain 25-30% from the current levels. Its ROC/ROE is likely to go up n

  • DAMAC Properties to showcase properties across India

    12th February, 2008 15:01

    DAMAC Properties, Middle East’s largest private sector master developer and luxury lifestyle provider will be showcasing iconic properties through road shows acros

  • McNally Bharat bags Rs 70.6 cr order from SAIL 

    12th February, 2008 15:00

    McNally Bharat has received an order worth Rs 70.6 crore from SAIL's Bokaro steel plant. Speaking to CNBC-TV18, Shreenivas Singh, MD, McNally Bharat said Rs 70 cro

  • Buy India Overseas Bank, target Rs 215: PINC

    12th February, 2008 14:58

    PINC research has maintained buy rating on Indian Overseas Bank with target price of Rs 215. The bank’s net profit grew 25% YoY to Rs 3.08 billion due to strong pe

  • Moser Baer plans 600mw Thin Film PV capacity

    12th February, 2008 14:53

    Moser Baer plans 600 MW Thin Film PV capacity with an estimated investment of over $ 1.5 bn

  • Reliance Capital witnesses buying interest

    12th February, 2008 14:46

    At 2:41 pm, Reliance Capital was quoting at Rs 1,755, up Rs 140.25, or 8.69%. It has touched an intraday high of Rs 1,849.70 and an intraday low of Rs 1,508.50. I

  • Stay with NTPC, says A Jain 

    12th February, 2008 14:40

    Anu Jain of Omniscient Securities is of the view that one can stay with NTPC. Power at the moment is the weakest sector and there is going to be a tendency to shor

  • RBI cancels registration of Lotus Hire Purchase

    12th February, 2008 14:36

    Reserve Bank cancels certificate of registration of M/s. Lotus Hire Purchase Limited

  • SAIL can touch Rs 235: A Jain 

    12th February, 2008 14:31

    Anu Jain of Omniscient Securities feels that SAIL can touch Rs 235. It is just gone over its 200-day moving average, which is about Rs 194, which is showing that i

  • RBI Reference Rate for US $ & Euro

    12th February, 2008 14:24

    The Reserve Bank of India’s Reference Rate for the US dollar is Rs.39.73 and the Reference Rate for Euro is Rs.57.80 on February 11, 2008

  • Special incentives needed for retirement savings: Tata MF

    12th February, 2008 14:17

    Budget’08 can provide special taxation incentives for 401(k) style plans, to enable individuals to save for their retirement. Also, more incentives need to be crea

  • Valentine’s Day - Full of surprises only on Big 92.7 FM

    12th February, 2008 14:15

    BIG 92.7 FM, India’s No.1 FM Station is celebrating Valentine’s Day, offering listeners a whole lot of surprises and action – whether on air or on ground from the

  • VSNL slips on profit booking

    12th February, 2008 14:08

    At 2:02 pm, Videsh Sanchar Nigam, VSNL was quoting at Rs 459.80, down Rs 21.45, or 4.46%. It has touched an intraday high of Rs 500 and an intraday low of Rs 455.5

  • SBI a safer bet: Irani 

    12th February, 2008 14:01

    Mehraboon Irani of Centrum Broking is of the view that SBI is a safer bet in banking sector. The correction of about 15% from the peak makes the stock quite attrac

  • Reliance top gainer on the Sensex

    12th February, 2008 13:55

    Reliance Industries is top gainer on the Sensex. At 1:49 pm, the share was quoting at Rs 2,394.90, up Rs 120.05, or 5.28%. It has touched an intraday high of Rs 2,

  • JP Morgan positive on Infosys, TCS

    12th February, 2008 13:51

    Bhavin Shah of JP Morgan is positive on technology at current levels. He expects the volume growth to slow down. He sees a flat IT spend this year, he told CNBC-TV

  • Reduce multiple levies on medical tech industry : Assocham

    12th February, 2008 13:25

    Dr. GSK Velu, President, AMDSI and Head of Manufacturing Sub-Committee, Assocham and CII said the multiple levies on manufacturers and increased customs duty makes

  • G N Nagaraj awarded CIO of the Year 2008

    12th February, 2008 13:14

    Mr. G. N. Nagaraj, Sr. Vice President and Chief Technology Officer, Reliance Money, was declared the CIO of the Year 2008, at the IT People Awards Night, held on J

  • Lotus India sees strong domestic inflows in next 45 days

    12th February, 2008 13:12

    Ajay Bagga, CEO, Lotus India AMC said there’s a lot of risk aversion across segments. According to him, the only buyers in the last 40 days have been the domestic

  • Adventity announces launch of Dubai operations

    12th February, 2008 12:55

    Adventity, a leading global research, analytics and business processes firm with offices in New York, Houston, London, Mumbai, Hong Kong, Singapore and Seoul, form

  • FY08 revenues to be 15-20% higher than FY07: Mundra Port  

    12th February, 2008 12:46

    Speaking to CNBC-TV18, Rajiv Sinha, Director, Mundra Port and SEZ said FY08 revenues will be 15-20% higher than FY07. Sinha added that EBITDA margins are at 62% ve

  • Buy McNally Bharat Engineering, tgt Rs 262: PINC

    12th February, 2008 12:35

    PINC research has maintianed McNally Bharat Engineering with target price of Rs 262. McNally Bharat Engineering Co. Ltd’s (MBEL) Q3FY08 results were below our expe

  • ONGC flares up

    12th February, 2008 12:26

    At 12:20 pm, Oil and Natural Gas Corporation, ONGC was quoting at Rs 952.45, up Rs 11.30, or 1.20%. It has touched an intraday high of Rs 967 and an intraday low o

  • SBI Magnum Tax Gain declares 110% dividend

    12th February, 2008 12:21

    SBI Magnum Tax Gain Scheme has declared a dividend of 110%, for which the record date is February 15, 2008.

  • Sterlite Industries leads gainers on the Nifty

    12th February, 2008 12:07

    Sterlite Industries is top gainer on the Nifty. At 12:05 pm the share was quoting at Rs 734.50, up Rs 33, or 4.70%. It has touched an intraday high of Rs 743.80 an

  • ICICI Pru MF declares 20% dividend in 2 equity schemes

    12th February, 2008 12:05

    ICICI Prudential Mutual Fund has announced 20% dividends in ICICI Prudential Dynamic Plan and ICICI Prudential FMCG Fund, the record date for dividend has been fix

  • How to plan your finances? Here's expert advice

    12th February, 2008 11:59

    Many of us having surplus funds are sometimes frivolous or naïve in our investment decisions. Here are a few simple yet important financial planning steps that we

  • JP Morgan positive on tech at current levels 

    12th February, 2008 11:52

    Bhavin Shah of JP Morgan is positive on technology at current levels. He expects the volume growth to slow down. He sees a flat IT spend this year, he told CNBC-TV

  • SC hearing on cane pricing to begin Feb 15

    12th February, 2008 11:48

    The Supreme Court hearing on cane pricing has been referred to the other bench. The hearing will begin on February 15, reports CNBC-TV18. Supreme Court was to anno

  • Buy Havells India, target Rs 650: PINC

    12th February, 2008 11:37

    PINC research has maintained buy rating on Havells India with target price of Rs 650. We expect net sales of Rs 49 billion in FY08, which should increase 22% in FY

  • Buy Reliance Comm; target of Rs 847: Emkay

    12th February, 2008 11:33

    Emkay Research is bullish on Reliance Communications and has recommended buy rating on the stock with a target of Rs 847. At CMP of Rs 646 the stock trades at an E

  • VSNL has target of Rs 507: Bose 

    12th February, 2008 11:18

    Technical Analyst, Rajat K Bose is of the view that VSNL has target of Rs 507. After a fairly long period of time it has given a bounce on the back of an event. It

  • Reliance Capital has support at Rs 1490-1500: Bose 

    12th February, 2008 11:07

    Technical Analyst, Rajat K Bose is of the view that Reliance Capital has support at Rs 1490-1500. If that support level gets broken then it can move further down.

  • Mundra Port slips further

    12th February, 2008 10:46

    Mundra Port has continued to slip. At 10:41 am, the share was quoting at Rs 680, down Rs 30.5, or 4.29%. It was trading with volumes of 40,324 shares. Yesterday th

  • Hard lessons from the Rel Power massacre

    12th February, 2008 10:30

    Before diving into the next IPO on the block, read this 'value buyer's' reasons for not investing in the Reliance Power IPO.

  • CLSA expects Sensex to go to 15,500 levels 

    12th February, 2008 10:19

    Laurence Balanco, Asian Technical Research at CLSA, said the close below 200 DMA is a huge negative and sees more resistance now in markets. He expects markets to

  • Repeat of May 2006

    12th February, 2008 10:12

    This is looking like a mirror image of what happened in May-June 2006. Markets peaked when Stock futures contributed 78% of total futures Open Int, which is absolu

  • XL Telecom bags order, stk up

    12th February, 2008 10:09

    At 10:03 am, XL Telecom and Energy was quoting at Rs 318, up Rs 3.65, or 1.16%. The company has bagged Rs 234 crore export order for solar panels to Europe. It was

  • Reliance Comm looks fairly attractive 

    12th February, 2008 10:04

    Some of the stocks are good stocks in ADAG. Reliance Communication, the high of January was Rs 820, the stock has fallen to Rs 590. One has reservations about the

  • Other banks may follow SBI in rate cuts 

    12th February, 2008 10:00

    SBI’s rate change is even more influential in the RBI’s rate change. It’s quite encouraging to see that banks have taken the lead without the crutch of the Central

  • Stay with blue chips in IT than GSS America 

    12th February, 2008 09:56

    GSS America has come at a difficult time. Most issues are devolving; they are not getting sold. So it is very difficult to go out and make a case for buying smallc

  • J Kumar Infra debuts with 8% premium

    12th February, 2008 09:53

    J Kumar Infraprojects (JKIL), a civil engineering and infrastructure development company, has started the day with premium of 8.18% at Rs 109 as against its offer

  • Nifty Futures add 11 lakh shares in OI 

    12th February, 2008 09:40

    FIIs net sold Rs 862 crore in Nifty Futures and net bought Rs 488 crore in Stock Futures. Stock Futures shed 3 crore shares in OI despite addition of 47 lakh share

  • Mkts to see better times in 2-3 months: PN Vijay 

    12th February, 2008 09:34

    Portfolio Manager PN VIjay feels that once the current crisis settles down, the markets will see better times. He told CNBC-TV18 that he is not at all worried abou

  • J Kumar Infra not right horse to back post listing 

    12th February, 2008 09:27

    J Kumar Infraprojects is a reasonable kind of company. It has order book of Rs 450 crore. At issue price of Rs 110, it will do Rs 8 in EPS and available at 14 PE f

  • Markets may see recovery

    12th February, 2008 09:07

    European markets declined last night, while the US indices made gains after a negative start. Asian markets are also up this morning, and the global short-term tre

  • Support for Sensex at 15800-15264

    12th February, 2008 09:02

    The support for the Sensex is at 15800-15264 and the resistance to the up move at 17370.

  • Bears likely to remain in command

    12th February, 2008 08:56

    The outlook for the markets today remains that of abundant caution and as long as the Nifty spot remains below the 4930 levels, expect the bears to remain in comma

  • Money calls: Bhandari, Lasrado

    12th February, 2008 08:49

    Expect the bonds to be rangebound and may rally just 1-2 bps. The liquidity situation is likely to tighten going forward, says Bhandari.

  • Crude prices hit one-month high

    12th February, 2008 08:45

    Crude prices hit a one-month high after Valero Energy shut a refinery because of a storm-related power failure and as cold weather moved across northern US. In aft

  • Customer is king for Indian Bank

    12th February, 2008 08:41

    The Indian Bank is currently implementing an e-learning programme. Provision of more area and basic amenities for customers in each branch is the drive-line curren

  • Indian ADRs: Sterlite down 4.6%, VSNL up 9.2%

    12th February, 2008 08:37

    Indian ADRs: Sterlite Ind, Tata Motors, HDFC Bank, Patni Computer, Infosys, Dr Reddy's Lab and MTNL plunged ,while VSNL and Satyam gained.

  • Orissa gives nod for land to Arcelor Mittal

    12th February, 2008 08:33

    The Orissa Government has accorded provisional approval for allotment of 7,750 acres for global steel major Arcelor Mittal to build a 12-million tonne plant, repor

  • Sentiment weighing heavily on mkts: Asia Pacific Asst Mgmt 

    12th February, 2008 08:31

    Investor sentiment is a key factor. Sentiment is weighing heavily on markets around the globe at the moment due to uncertainty on the extent of sub prime issues sa

  • Biocon buys 70% stake in German pharma co for €30 m

    12th February, 2008 08:29

    Biocon Ltd announced its first footprint in Europe by acquiring 70 per cent stake in German pharma distribution company AxiCorp GmbH for €30 million (around Rs 174

  • Wall Street ends higher; Dow up 57 points

    12th February, 2008 08:21

    Wall Street closed higher, rebounding from the worst weekly loss in five years as bargain-hunting and takeover talk sparked gains. Investors drove General Motors h

  • Market cues: Open Interest down by Rs 3053 cr

    12th February, 2008 08:16

    Market cues: Open Interest down by Rs 3,053 crore at Rs 66,605 crore.

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