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Moneycontrol News Archive : 2 June, 2008

  • Carrefour to join hands with Emmar MGF for retail foray

    2nd June, 2008 20:31

    Carrefour, the world's second largest retailer, will join hands with Emmar MGF for its India foray. It has already formed two companies for its cash and carry form

  • Tax benefits under DEPB restored for cement cos

    2nd June, 2008 20:07

    The government restores tax benefits under Duty Entitlement Passbook Scheme, or DEPB, to cement exports, reports CNBC-TV18.

  • LG to reposition itself as premium brand 

    2nd June, 2008 19:57

    LG India is on a mission to reposition itself. From a mass-market brand, LG is all set to go premium. The company has earmarked Rs 360 crore for branding and marke

  • M&M automotive sales including exports grow by 15.5%

    2nd June, 2008 19:07

    M&M automotive sales including exports grow by 15.5% in May 2008. Combined automotive sales, including exports in May 2008, were at 20,653 vehicles, as against 17,

  • Superhit Ratings: 24m viewers watched IPL final game 

    2nd June, 2008 18:49

    The finals of the DLF Indian Premier League had the perfect recipe for a blockbuster! What with a last ball finish and the tournament underdogs Rajasthan Royals cl

  • FII outflows could send mkts to Jan lows: HSBC Pvt Banking 

    2nd June, 2008 18:33

    Ajay Loganadan, Head of Investment Advisory Group, HSBC Private Banking, said high inflation is one of the main concerns for the market. "FIIs are not comfortable

  • Rel Comm, MTN may begin due diligence in 2 days

    2nd June, 2008 18:30

    CNBC-TV18 has learnt that Reliance Communications and MTN are likely to begin due diligence over the next two days. The two companies may be looking at a share swa

  • Loganadan neutral on the Metal, Energy 

    2nd June, 2008 18:16

    Ajay Loganadan of HSBC Private Banking is neutral on the metal as well as energy space.

  • Acquisition of Jaguar, Land Rover complete: Tata Motors

    2nd June, 2008 18:09

    Tata Motors says the acquisition of Jaguar, and Land Rover is complete, reports CNBC-TV18. JLR's David Smith would continue as CEO post the takeover by Tata Motors

  • S&P launches Asia Property 40 Index

    2nd June, 2008 17:52

    Standard & Poor's, the world's leading index provider, announced the launch of the S&P Asia Property 40 index, which will provide liquid exposure to the leading pu

  • Rupee, bonds end higher

    2nd June, 2008 17:40

    The spot rupee ended higher at Rs 42.40 per USD as against its previous close of Rs 42.46. The widely traded 8.24%, 2018 paper closed higher at Rs 101.01 as agains

  • ŠkodaIndia sells 1802 units in May ‘08

    2nd June, 2008 17:30

    ŠkodaIndia announced that the company has achieved sales of 1802 units in May 2008. With this figure ŠkodaIndia registered 122.5 % growth in sales as compared to 8

  • Hexaware appoints P R Chandrasekar as CEO & Vice Chairman

    2nd June, 2008 17:14

    Hexaware Strengthens Leadership Team; Appoints P. R. Chandrasekar as CEO and Vice Chairman and Prateek Aggarwal as CFO

  • General Motors India sales grow by 7% in May 2008

    2nd June, 2008 17:00

    General Motors India registered a growth of 7% in sales in the month of May 2008 as compared to the corresponding period last year. It sold 5789 units in May 2008

  • Mkts may test March lows if Sensex breaks 15845

    2nd June, 2008 16:57

    The Nifty has broken below a crucial level of 4768 and thus the Sensex support at 15845 becomes all the more critical. Any break below this level of 15845 will ope

  • SRS Group launches SRS Jewels

    2nd June, 2008 16:42

    SRS Group announced its definitive plans to foray into retailing of branded jewelry by launching the first exclusive jewelry retail store under its new brand – SRS

  • Accumulate IVRCL Infra, tgt Rs 463: Angel

    2nd June, 2008 16:38

    Angel Broking has recommended an accumulate rating on IVRCL Infrastructure and Projects with a target price of Rs 463. IVRCL Infrastructure Projects, one of the le

  • AV Birla May sales at 2.66 mt

    2nd June, 2008 16:28

    AV Birla has declared its May sales numbers. Its May cement sales were at 2.66 million tonnes. AV Birla Group cement sales includes Grasim and Ultratech.

  • Lotus India AMC launches FMP-375 Days- Series X

    2nd June, 2008 16:24

    Lotus India AMC, a joint venture between Fullerton Fund Management Group and Sabre Capital Worldwide, announced the launch of its Closed-Ended Debt Scheme: Lotus I

  • Stay away from Unitech: Sukhani 

    2nd June, 2008 16:20

    Technical Analyst, Sudarshan Sukhani is of the view that one should stay away from Unitech and other realty stocks.

  • Amdocs opens new software & services center in India

    2nd June, 2008 16:11

    Amdocs (NYSE: DOX), the leading provider of customer experience systems, today announced the opening of a new company facility in Gurgaon. The new facility will

  • Wipro launches Fit for Life initiative for its employees

    2nd June, 2008 16:01

    Wipro Limited launched Fit for Life, a comprehensive well-being program for its employees today. The objective of the program is to evaluate and improve well-being

  • Buy Colgate Palmolive, target of Rs 504: India Infoline

    2nd June, 2008 15:53

    IndiaInfoline has maintained its buy rating on Colgate Palmolive (India) with a target price of Rs 504. Colgate continues to dominate the oral care industry with 4

  • BIG 92.7 FM unveils new brand identity

    2nd June, 2008 15:51

    BIG 92.7 FM, India’s No.1 FM Station has unveiled its new brand identity. The Radio Station is part of Reliance Entertainment, which is on an expansion spree, laun

  • Datacraft achieves Master Security Specialization of Cisco

    2nd June, 2008 15:39

    Datacraft India announced that it has achieved the Master Security Specialization of Cisco®. This certification recognizes Datacraft India for its investment towar

  • Unitech may divest 26% to rope in foreign mobile operator

    2nd June, 2008 15:34

    Unitech Wireless has appointed Aircel's former executive director Rohit Chandra as its CEO. The company will divest 26% to rope in a foreign mobile operator.

  • M&M FES records 26% gwth in tractor sales in May 2008

    2nd June, 2008 15:29

    Domestic sales of tractors of M&M Ltd., Punjab Tractors Ltd. and Mahindra Gujarat Tractors Ltd. in May 2008, together totalled 11879 nos., a growth of 29% over the

  • ACC among major losers

    2nd June, 2008 15:15

    ACC is among major losers on the Sensex. At 3:04 pm, the share was quoting at Rs 629.00, down Rs 31.65, or 4.79%. It was trading with volumes of 88,430 shares. On

  • PVR to continue to maintain margins in FY09 

    2nd June, 2008 15:13

    PVR has declared its Q4 results. Its net profit was up at Rs 2.7 crore versus Rs 2.2 crore. Its Q4 net sales were at Rs 56.8 crore versus Rs 42.5 crore. Ajay Bijli

  • PVR Q4 net profit at Rs 2.7 cr

    2nd June, 2008 15:09

    PVR has announced its fourth quarter numbers. It has posted Q4 net profit of Rs 2.7 crore as against Rs 2.2 crore and net sales of Rs 56.8 crore versus Rs 42.5 cro

  • Addl marketing spend behind drop in Q4 margins: Page Inds 

    2nd June, 2008 15:02

    Ashok Genomal, MD, Page Industries said the company had a growth in sales. He told CNBC-TV18 that the margins in Q4 are lower and it is due to the additional marke

  • Bharati Shipyard has target of Rs 900: V Sethi

    2nd June, 2008 14:58

    Vikas Sethi, MD of Sethi Finmart is of the view that Bharati Shipyard has target of Rs 900. The company has recently announced the commencement of a shipyard at Da

  • Ruchi Soya can touch Rs 175: V Sethi

    2nd June, 2008 14:54

    Vikas Sethi, MD of Sethi Finmart is of the view that Ruchi Soya Industries can touch Rs 175 in about 12 months time. It is one of the largest agribusiness company

  • McLeod Russel sees Rs 8-10 EPS for FY09 

    2nd June, 2008 14:53

    Kamal Baheti, CFO of McLeod Russel India said that tea is seasonal in nature and so Q4 would always have a loss. He said that April 1 onwards the prices have been

  • Sujana Towers has target of Rs 200: V Sethi 

    2nd June, 2008 14:49

    Vikas Sethi, MD of Sethi Finmart is of the view that Sujana Towers has target of Rs 200. It is the manufacturer of power transmission and telecom towers and it als

  • NALCO top loser on Nifty

    2nd June, 2008 14:45

    NALCO is top loser on the Nifty. At 2:37 pm, the share was quoting at Rs 507, down Rs 31.75, or 5.89%. It has touched an intraday high of Rs 547 and an intraday lo

  • Mkt breadth extremely disappointing, Nifty below 4800 

    2nd June, 2008 14:41

    Nifty is at 4,765 and early morning we were trading at 4,910. So, it is almost 150-point cut on the Nifty from the highs of the day. That is extremely disturbing a

  • Vikram Talwar named E&Y Entrepreneur of the Year Finalist

    2nd June, 2008 14:33

    EXL Executive Chairman Vikram Talwar named Ernst & Young Entrepreneur of the Year® 2008 Award Finalist in Metro New York Area. The program has expanded to recogniz

  • Short-term outlook not positive for auto space: Angel 

    2nd June, 2008 14:24

    Vaishali Jajoo of Angel Broking has a buy on Maruti Suzuki and M&M. She has a more positive bias on the four-wheeler side. Two-wheelers seem to be a bit of on a co

  • Reliance Infra loses further ground

    2nd June, 2008 14:20

    At 2:11 pm, Reliance Infrastructure was quoting at Rs 1,171, down Rs 59.75, or 4.85%. It has touched an intraday high of Rs 1,250 and an intraday low of Rs 1,168.6

  • Page Ind Q4 net profit at Rs 4.3 cr

    2nd June, 2008 14:15

    Page Industries has declared its fourth quarter numbers. It has reported Q4 net profit of Rs 4.3 crore as against Rs 3.6 crore and net sales of Rs 45 crore versus

  • Educomp FY08 cons net profit at Rs 70.6 cr

    2nd June, 2008 14:13

    Educomp Solutions has announced its FY08 numbers. On the consolidated basis, It has posted net profit of Rs 70.6 crore versus Rs 28.7 crore and net sales of Rs 286

  • M&M May sales at 20683 units

    2nd June, 2008 14:10

    Mahindra and Mahindra has declared its May sales numbers. The company's May sales were at 20,683 units versus 17,881 units on YoY basis.

  • Bennet, Coleman picks up 2.55 lac eqty sh of Lotus Eye Care

    2nd June, 2008 13:59

    Bennet, Coleman & Company picks up 2.55 lac equity shares of Lotus Eye Care Hospital at Rs 50 each. All the centers have fully computerized modern setup manned by

  • K Raheja Corp ties up with Servcorp

    2nd June, 2008 13:49

    K Raheja Corp, one of India’s leading real estate and retail companies, has entered into an exclusive franchise agreement with Servcorp, global leaders and pioneer

  • TVS Motor posts 4% growth in May 2008; Exports grow at 43%

    2nd June, 2008 13:40

    TVS Motor Company posts 4% growth in May 2008; Exports grow at 43%; Motorcycles post 10% growth

  • Punj Lloyd FY08 net sales up at Rs 7,753 cr 

    2nd June, 2008 13:31

    Punj Lloyd has announced its FY08 results. The company’s FY08 consolidated net sales were up at Rs 7,752.92 crore versus Rs 5,126.58 crore. YoY.

  • ATF shock: SpiceJet to raise airfares shortly 

    2nd June, 2008 13:14

    Ajay Singh, Director, SpiceJet, said the airline plans to announce an increase in fares shortly. "Short-haul flight routes will be impacted the most with the airfa

  • Sugar space looking extremely strong led by Renuka Sugars 

    2nd June, 2008 13:12

    The Sugar space is looking extremely strong led by Shree Renuka Sugars. The auto numbers trickled in and TVS Motors, Bajaj Auto are seeing good traction in the F&O

  • Buy UCO Bank on declines: Bhambwani 

    2nd June, 2008 13:09

    Technical Analyst, Vijay Bhambwani is of the view that one can buy UCO Bank on declines.

  • Exit Ambuja Cements on rallies: Bhambwani 

    2nd June, 2008 12:59

    Technical Analyst, Vijay Bhambwani is of the view that one can exit Ambuja Cements on rallies. On the upsides, it could go all the way up to Rs 110-114 odd levels

  • Buy BHEL, target of Rs 2252: Bajaj Capital

    2nd June, 2008 12:56

    Bajaj Capital has recommended a buy rating on Bharat Heavy Electricals with a price target of Rs 2252. BHEL’s current order book stands at Rs 85000 crore. In the P

  • Hero Honda post 9.5% increase in May sales

    2nd June, 2008 12:50

    Hero Honda Motors Ltd, the world's largest two-wheeler manufacturer for seven consecutive years, today reported a 9.5 per cent growth in its sales in May 2008.

  • Bajaj Motorcycle sales grow 16%

    2nd June, 2008 12:43

    Bajaj Motorcycle sales grow 16%

  • Cinemax India an outperformer: Karvy

    2nd June, 2008 12:36

    Karvy Stock Broking has manitained its outperformer rating on Cinemax India with a price target of Rs 134. The company also declared its FY08 consolidated results

  • Nagarjuna Construction bags order; stock down

    2nd June, 2008 12:26

    At 12:15 pm, Nagarjuna Construction Co. was quoting at Rs 191.10, down Rs 6.3, or 3.19%. It has touched an intraday high of Rs 199.95 and an intraday low of Rs 187

  • Tata Motors ups prices of their passenger vehicles

    2nd June, 2008 12:23

    Tata Motors has raised the prices of its passenger vehicles. It has increased the prices of Indica and Indigo models by 1-2%. The company has also increased the pr

  • O&G, metals segment orderbook at Rs 2k cr: Nagarjuna Const

    2nd June, 2008 12:22

    Nagarjuna cement said that the profits were depressed due to the exorbitant rise in steel prices. He added that the there were orders worth Rs 2000 cr in the oil a

  • J&K Bank profit up by 31%

    2nd June, 2008 12:14

    The J&K Bank recorded a net profit of Rs 59.80 crore in Q4 FY2007-08, an increase of 32% over the corresponding period of the previous year. The bank’s operating p

  • TVS Motor May sales at 1.12 lakh units

    2nd June, 2008 12:08

    TVS Motor Company has announced its May sales numbers. The company's May sales were at 1.12 Lakh units versus 1.08 Lakh units on YoY basis.

  • Hotel space likely to outperform: Chugh 

    2nd June, 2008 12:05

    Investment Analyst, Ashish Chugh is of the view that hotel sector and many companies in this sector could be outperformer in the years to come. Hotel sector has be

  • HPCL an underperformer: Karvy

    2nd June, 2008 11:56

    Karvy Stock Broking has maintained its underperformer rating on Hindustan Petroleum Corporation with a target price of Rs 230. Oil marketing companies like HPCL ar

  • Limited downside in Venkys: A Chugh 

    2nd June, 2008 11:53

    Investment Analyst, Ashish Chugh is of the view that there is a limited downside in Venkys.

  • Govt to reverse inflation without hitting growth: PM 

    2nd June, 2008 11:49

    Prime Minister Manmohan Singh said that the government will sustain growth fate despite challenges. He added that rising crude prices threatens growth in many deve

  • Hot midcaps picks in next outperforming sector 

    2nd June, 2008 11:40

    Invesment Analyst Ashish Chugh likes Venky's India - it's the market leader in the poultry segment and he believes the increase in commodity prices may lead to inc

  • India growth story strong despite inflation: IDFC PE 

    2nd June, 2008 11:35

    Luis Miranda, President and CEO, IDFC Private Equity is positive on the India growth story. He said that inflation was inevitable with the soaring crude prices and

  • Essar Oil bounces back

    2nd June, 2008 11:34

    At 11:25 am, Essar Oil was quoting at Rs 237.85, up Rs 14.20, or 6.35%. It has touched an intraday high of Rs 243 and an intraday low of Rs 225. It was trading wit

  • Buy Deepak Fertilizers, target of Rs 169: HDFC securities

    2nd June, 2008 11:20

    HDFC securities has maintained its buy rating on Deepak Fertilizers and Petrochemicals with a target price of Rs 169. The stock is attractive at 7x & 5.5x its FY09

  • Inflation likely to hit double digits soon: MS 

    2nd June, 2008 11:04

    Chetan Ahya, MD of Morgan Stanley said the GDP numbers are backward looking and the services sector lags industrial data. He thinks the GDP growth rate is likely t

  • Polaris has resistance at Rs 114: Bose 

    2nd June, 2008 10:56

    Technical Analyst, Rajat K Bose is of the view that Polaris Software Lab has resistance at Rs 114.

  • Buy Punj Lloyd, target of Rs 556: Sharekhan

    2nd June, 2008 10:47

    Sharekhan has maintained its buy rating on Punj Lloyd with a target of Rs 556. Punj Lloyd announced its Q4FY2008 results, reporting a 37.8% growth in the revenues

  • HCC has resistance at Rs 123-125: Bose 

    2nd June, 2008 10:39

    Technical Analyst, Rajat K Bose is of the view that Hindustan Construction has resistance at Rs 123-125. It is showing some kind of a bounce back. If it manages to

  • Above Rs 1700, BHEL can test Rs 1800: Bose 

    2nd June, 2008 10:29

    Technical Analyst, Rajat K Bose is of the view that above Rs 1700, BHEL can test Rs 1800. Between Rs 1,812 and Rs 1,845 there would be enough resistance and analys

  • Dish TV puts on a good show

    2nd June, 2008 10:18

    At 10:14 am, Dish TV was quoting at Rs 49, up Rs 2.80, or 6.06% on the NSE. It has touched an intraday high of Rs 49.85 and an intraday low of Rs 46.80. It was tra

  • Adhunik Metaliks to consider merger, stk up

    2nd June, 2008 10:13

    At 10:04 am, Adhunik Metaliks was quoting at Rs 172.95, up Rs 3.95, or 2.34%. The company in the board meet will consider merger / amalgamation of Vedvyas Ispat an

  • Gokul Refoil to list on June 4

    2nd June, 2008 10:05

    Gokul Refoil primarily engaged in the business of Solvent Extraction, refining of Edible oils and Vanaspati manufacturing will list on the bourses with its equity

  • Crude slightly holding on firmer note  

    2nd June, 2008 10:00

    The sell off continues into market and in commodities we saw lot of profit taking happening in the last week. More selling or follow through selling is how this we

  • Punj Lloyd plunges nearly 9%

    2nd June, 2008 10:00

    At 09:56 am, Punj Lloyd was quoting at Rs 293, down Rs 27.6, or 8.61% on the NSE. Its FY08 consolidated net profit was at Rs 358.42 crore versus Rs 196.93 crore, Y

  • Nifty unlikely to snap 4800-5000 range

    2nd June, 2008 09:49

    While no levels are sacrosanct in the markets, 4800 is coming ever so closer to being one and Friday was the classic example. Just when it threatened to break 4800

  • Expect markets to have uptrend: Hem

    2nd June, 2008 09:45

    According to Hem Securities Morning Note, the markets are expected to have uptrend on Monday.

  • Nifty may correct upto 4833: Angel

    2nd June, 2008 09:42

    According to Angel Broking Market Outlook report, if Nifty trades below 4871 for the first half-an-hour of trade then it may correct upto 4833.

  • Sterlite Ind buys ASARCO for $2.6bn 

    2nd June, 2008 09:28

    Sterlite Industries has bought US-based ASARCO's operating assets for USD 2.6 billion, reports CNBC-TV18. It is understood that the acquisition will be financed th

  • Nifty ends below 4750:Realty, metal, power, banks worst hit

    2nd June, 2008 09:25

    It was a worse session for the markets, which corrected sharply and ended at days low of the first day of week. The Sensex breached 16000 mark in late trade but ma

  • Difficult for mkts to go up from here soon 

    2nd June, 2008 09:13

    The markets look sticky and it is difficult for the markets to go up, which is not a good think.The market in May and in the last week has not gone down below from

  • Nifty has support at 4750-4600: Karvy

    2nd June, 2008 09:09

    According to Karvy Weekly Technical Analysis report, expect indices to take support around the 15800-15300/4750-4600 levels.

  • Expect more gains today

    2nd June, 2008 09:02

    Most European indices improved on Friday though London’s Footsie finished lower. The US markets were mixed. Asian markets are rallying this morning, and the global

  • Expect directional move

    2nd June, 2008 09:00

    Expect directional move after last week’s indecisive move. The overall strategy still remains to exit on a rally to Weekly resistance levels. Traders can benefit

  • Hero Honda May sales up 9.5% at 3.12 lakh units

    2nd June, 2008 08:58

    India's largest two-wheeler seller, Hero Honda has declared its May sales numbers. It has sold 3.12 lakh units in the month of May 2008 as against 2.85 lakh units

  • Money calls: Ramkumar, Sharma

    2nd June, 2008 08:54

    I expect the bond market to trade at current levels with negative bias. The possible fuel price hike may be a positive development but this would also lead to high

  • Support for Sensex at 16197-15834

    2nd June, 2008 08:52

    The support for the Sensex is at 16197-15834 and the resistance to the up move at 16784-16805-16977.

  • IOC hopeful of finalising Turkey project equity map

    2nd June, 2008 08:48

    The financial crisis notwithstanding, IndianOil is moving ahead with its Turkey plans.

  • Equity calls: Vijay, Bhamre

    2nd June, 2008 08:46

    The market is nervous ahead of the possible fuel price hike and is likely to trade sideways, says Vijay.

  • Infosys directors get 81% more cash compensation

    2nd June, 2008 08:42

    Cash compensation to Infosys directors increased by 81 per cent to Rs 10.45 crore during the year ended March 31, 2008 compared with Rs 5.76 crore a year ago. The

  • Buy Aban Offshore, target of Rs 5247: India Infoline

    2nd June, 2008 08:40

    IndiaInfoline has recommended a buy rating on Aban Offshore with a target price of Rs 5247. Historically, Aban has clocked the highest operating margins in the ind

  • US steps up demand for heavy water from India

    2nd June, 2008 08:38

    Even as the fate of the Indo-US nuclear deal hangs in the balance, India is gradually emerging as a big-ticket exporter of heavy water.

  • Sell Tata Motors, target of Rs 520: India Infoline

    2nd June, 2008 08:33

    IndiaInfoline has recommended a sell rating on Tata Motors with a price target of Rs 520. To raise money for the JLR deal, Tata Motors has proposed to raise Rs 7,2

  • Market cues: FIIs net sell $268.7 mn

    2nd June, 2008 08:24

    Market cues: FIIs net sell $268.7 mn. MFs net buy Rs 90 lakh in equity on May 29.

  • Bullion and metal likely to show positive trend

    2nd June, 2008 08:20

    As per financial numerology 22nd week of year 2008 represent “Rahu. As per financial astrology Rahu is very famous to bring volatility in world future market throu

  • RBI releases draft norm on non-deposit taking NBFCs

    2nd June, 2008 20:24

    RBI has released draft norms on non-deposit taking non-banking financial companies (NBFCs), reports CNBC-TV18. The norm for non-deposit NBFC capital adequacy is 12

  • M&M plans Turkish foray 

    2nd June, 2008 20:04

    Turkey is the latest stop for the M&M's global drive. It is also scouting opportunities for co-operation with Turkey for its logistics business, technology for bus

  • NCDEX – Trade Details for June 02, 2008

    2nd June, 2008 19:14

    NCDEX, 470 members (2,251 users) participated in trading on June 02 2008 up to 5:00 pm and volumes were Rs 1,895 crore (one-way). There were more than 53,830 tra

  • Dhanus Tech appoints R Ramnath

    2nd June, 2008 18:55

    Dhanus Technologies appoints R. Ramnath as Group President, Corporate Affairs & Strategies

  • Business plan of GAIL Gas Limited to be finalized

    2nd June, 2008 18:40

    GAIL Gas Limited was registered last week as a limited company under the Companies Act 1956. The initial equity in the subsidiary company will be Rs. 200 crore and

  • Bafna Pharmaceuticals IPO subscribed 4.96 times

    2nd June, 2008 18:31

    Bafna Pharmaceuticals IPO subscribed 4.96 times

  • India's First IT-Specific SEZ Meet in Goa

    2nd June, 2008 18:21

    The exhibition will bring together IT specific developers from all over the country and global facility managers of leading IT, Software, BPO companies under one r

  • BoB revises interest rates on FCNR(B) & NRE Term Deposits

    2nd June, 2008 18:13

    Bank of Baroda is accepting FCNR (B) deposits in six currencies i.e. USD, GBP, EUR, YEN, CAD and AUD and up to maximum maturity period of five years for all the si

  • Tata Motors completes acquisition of Jaguar Land Rover

    2nd June, 2008 18:04

    Tata Motors today acquired the Jaguar Land Rover businesses from Ford Motor Company for a net consideration of US $2.3 billion, as announced on March 26, in an

  • SAIL signs MoU with MDI, Gurgaon for knowledge sharing

    2nd June, 2008 17:43

    SAIL signs MoU with MDI, Gurgaon for knowledge sharing

  • UPA to Goa: 3 notified SEZs cannot be denotified

    2nd June, 2008 17:36

    The Centre has told the Goa government that the three notified special economic zones, or SEZs, cannot be de-notified, reports CNBC-TV18. The Goa High Court has as

  • Hyundai registers strong 51.1% growth in May 2008

    2nd June, 2008 17:23

    HMIL’s total sales for the month of May ‘08 stood at 40,261 units. While the domestic market accounted for 24,510 units, exports registered sales of 15,751 units i

  • Essar oil plans capacity expansion to 34mt by 2010

    2nd June, 2008 17:04

    Essar Oil has planned expansion of USD 6 billion - USD 2 billion from equity & the rest, USD 4 billion from debt. The company is aiming to process 1mbpd of crude;

  • Ambuja Cements May sales at 1.5 mt

    2nd June, 2008 16:59

    Ambuja Cements has announced its sales numbers for the month of May. The company's May sales were at 1.5 million tonnes.

  • Kotak Mahindra Bank inaugurates 1st Priority Branch at Juhu

    2nd June, 2008 16:51

    Kotak Mahindra Bank, one of India’s leading private sector banks, announced the launch of its first Priority Banking Branch exclusively to cater to HNI & Priority

  • Global Financial Market sees gold at $805/oz by June-end 

    2nd June, 2008 16:41

    Bharath Kumar, Director of Global Financial Market said, USD 910/oz is a resistance zone that needs to be watched out for spot gold. He sees the yellow metal corre

  • Stay away from mkts, invest around 4,450 Nifty: Pranav Sec 

    2nd June, 2008 16:34

    Rajesh Jain, Director and CEO, Pranav Securities, said he won't start buying at this point. "Perhaps investors could start buying around 4,550, but ideally I would

  • Stocks to watch: NTPC, Sujana Towers, Bharti Shipyard 

    2nd June, 2008 16:26

    The markets got off to a shaky start for the week as weak global cues dented sentiment and pulled the indices into the red. Technical Analyst Sudarshan Sukhani of

  • Motherson Sumi Q4 cons net profit at Rs 64.39 cr

    2nd June, 2008 16:21

    Motherson Sumi Systems has announced its consolidated results for the quarter ended March 2008 (Q4). The company's Q4 consolidated net profit was at Rs 64.39 crore

  • Punj Lloyd - biggest loser in F&O space 

    2nd June, 2008 16:18

    Shorting and unwinding was the order of the day; shorting in the largecaps and unwinding in the momentum stocks were pretty much the order of the day. There is lot

  • Educomp to raise $200-250m via GDR issue

    2nd June, 2008 16:09

    Shantanu Prakash, MD, Educomp Solutions confirmed that the company plans to raise between USD 200 - 250 million via GDR issue. He sees this completed in the next f

  • Lotus India AMC launches FMP – 375 Days - Series X

    2nd June, 2008 15:58

    Lotus India AMC, launches Lotus India Fixed Maturity Plan – 375 Days – Series X, that aims to generate income by investing in a portfolio of debt and money market

  • Tractor biz to see strong growth in FY09: M&M 

    2nd June, 2008 15:52

    AnjaniKumar Choudhari, President-Farm Equipment, Mahindra & Mahindra, is positive about the future outlook for tractors in India. "The fundamentals for tractors co

  • Air travel gets costly; airlines hike fuel surcharge 

    2nd June, 2008 15:41

    Jet Airways has hiked fuel surcharge by Rs 150 for up to 750 km and by Rs 250 for more than 750 km. Indian, Deccan also said that they will impose an additional fu

  • Re 42.50-42.60/$ level may be tough to break: HSBC 

    2nd June, 2008 15:35

    Anand Krishnamurthy, Co-Head, Global Markets Of HSBC said that the cap for rupee to dollar could be around 43 if sentiment is the key driver. He added that sentime

  • Nifty witnessed 200-pt intraday correction 

    2nd June, 2008 15:31

    Its nearly 410 points down on the Sensex and there is a bit of capitulation, which is happening towards the end as well. 16,005 now, we may go under 16,000 as well

  • M&M records 32.3% cumulative growth in May 2008

    2nd June, 2008 15:20

    M&M announced that sales including exports grew by 32.3% in May ’08, with total sales of 40,683 vehicles as against 30,748 vehicles in the corresponding period las

  • Satyam slips on new court revelations

    2nd June, 2008 15:15

    At 3:03 pm, Satyam Computer Services was quoting at Rs 519.30, down Rs 4.45, or 0.85%. It has touched an intraday high of Rs 541.90 and an intraday low of Rs 515.

  • Cadbury to promote Cocoa Research in Tamil Nadu

    2nd June, 2008 15:11

    Cadbury India to promote Cocoa Research in Tamil Nadu, inks partnership with Tamil Nadu Agricultural University

  • Upaid case: Satyam feels damages not to exceed $8-10 m

    2nd June, 2008 15:08

    Upaid said the new Court revelations raise stakes for Satyam in the US fraud case, reports CNBC-TV18. Upaid will use Satyam's Senior Executive submissions in Court

  • Atul signs contract with Stamicarbon BV

    2nd June, 2008 15:01

    Atul Ltd – one of India’s leading specialty chemicals companies - and Stamicarbon B.V, The Netherlands – the DSM Licensing Center (DLC) - have signed a long term c

  • RSP withdraws from UPA-Left co-ordination panel 

    2nd June, 2008 14:57

    The Revolutionary Socialist Party (RSP), a constituent of the Left Front has withdrawn from the United Progressive Alliance (UPA)-Left coordination panel, reports

  • Rs 300 cr amount disputed, not loss: Punj Lloyd

    2nd June, 2008 14:53

    Punj Lloyd's management said the Rs 300 crore amount mentioned in the auditor's note is a disputed amount, and not a loss. "The 15 million pound legacy order has a

  • PVR announces result; stock down

    2nd June, 2008 14:52

    At 2:40 pm, PVR was quoting at Rs 186, down Rs 3.85, or 2.03%. It has touched an intraday high of Rs 199.85 and an intraday low of Rs 183. The company has declard

  • April exports up 31.5% at $14.4 bn (YoY)

    2nd June, 2008 14:47

    India's trade deficit in April has widened to its highest ever level of nearly USD10 billion, from around USD 7 billion a year ago. This is also higher than the US

  • Balrampur Chini loses its sweetness

    2nd June, 2008 14:42

    At 2:33 pm, Balrampur Chini Mills was quoting at Rs 86.50, down Rs 5, or 5.46%. It has touched an intraday high of Rs 93.50 and an intraday low of Rs 86.35. It was

  • Bombay Dyeing takes further dip

    2nd June, 2008 14:39

    At 2:27 pm, Bombay Dyeing and Manufacturing was quoting at Rs 820.90, down Rs 68, or 7.65%. It was trading with volumes of 395,930 shares. On Friday the share clos

  • NTPC rolls down

    2nd June, 2008 14:29

    At 2:18 pm, the share was quoting at Rs 164.70, down Rs 7.55, or 4.38%. It has touched an intraday high of Rs 174 and an intraday low of Rs 164.40. It was trading

  • Welspun India sales rise upto 28% at Rs 12,409mn

    2nd June, 2008 14:22

    Welspun India announces 2007-08 Results. Operational EBITDA reported grew by 7% to Rs. 1688 million. The Net Profit stands at Rs. 263 million in FY 08.

  • HDFC Bank declines nearly 4%

    2nd June, 2008 14:15

    At 2:05 pm, HDFC Bank was quoting at Rs 1,304.80, down Rs 53.05, or 3.91%. It has touched an intraday high of Rs 1,562 and an intraday low of Rs 1,303.10. It was t

  • McLeod Russel Q4 net loss at Rs 97 cr

    2nd June, 2008 14:14

    McLeod Russel has announced its fourth quarter numbers. It has posted net loss of Rs 97 crore for the quarter ended March 2008 and net sales of Rs 179 crore versus

  • Business Class driving airfare increases across APAC

    2nd June, 2008 14:11

    India published fares rose 6% overall, rose 2% in Domestic, rose 9% in Intra-Asia; rose 1% to EMEA and 32% to the Americas. However, on a quarter to quarter compar

  • Anantakrishnan bullish on energy sector

    2nd June, 2008 14:10

    TS Anantakrishnan, Head, Prime Wealth Management is bullish on energy sector.

  • Mkts trading at about 16.5x forward earnings: Prime Wealth 

    2nd June, 2008 13:50

    TS Anantakrishnan, Head, Prime Wealth Management, is positive on markets from a valuation perspective. "Valuations are about 16.5 times forward earnings and if you

  • Brokers bullish on Tata Steel, Jindal Steel, L&T

    2nd June, 2008 13:43

    Brokerage houses are bullish on Tata Steel, Jindal Steel & Power, L&T, Zee Tele, Punj Lloyd, Sintex Ind, Deepak Fert and Adhunik Metals.

  • Tata Steel increase its Jamshedpur Works Capacity to 10 MT

    2nd June, 2008 13:34

    Tata Steel Works in Jamshedpur moving towards 10 MTPA Capacity. The whole plant has been designed within an area of 63 acre due to space constraints and this is an

  • Aptech launches 2 N-Power Training Centres at Lucknow

    2nd June, 2008 13:28

    Aptech Limited, the Global Learning Solutions major, launched its Specialized Hardware & Networking Training centre, N-Power, at two locations in Lucknow viz. Alam

  • Sterlite Inds to buy operating assets of ASARCO for $2.6bn

    2nd June, 2008 13:13

    Sterlite Industries (India) Limited to purchase operating assets of ASARCO LLC for $2.6 billion

  • Expect GDR issue to list on LSE by July-end: J&K Bk 

    2nd June, 2008 13:10

    Dr Haseeb Drabu, Chairman, J&K Bank told CNBC-TV18 that the bank has got the required approvals from RBI and Sebi to raise about 100 million global depositary rece

  • Bank of Rajasthan posts PAT of Rs 115.20cr

    2nd June, 2008 13:01

    Bank of Rajasthan has posted an interest income of Rs 1049.44 crore for the 12 months ended March 31, 2008 as compared to Rs 757.93 crore during March 31, 2007.

  • IVRCL Infra wins Rs 837 cr order; stock falls

    2nd June, 2008 12:58

    At 12:46 pm, IVRCL Infrastructure and Projects was quoting at Rs 408.85, down Rs 5.85, or 1.41%. It has touched an intraday high of Rs 423 and an intraday low of R

  • GAIL India among major losers

    2nd June, 2008 12:51

    GAIL India is among major losers on the Nifty. At 12:44 pm, the share was quoting at Rs 388.25, down Rs 12.15, or 3.03%. It has touched an intraday high of Rs 405

  • Sell Ambuja Cements on rallies: VK Sharma 

    2nd June, 2008 12:48

    VK Sharma of Anagram Stock Broking is of the view that one can sell Ambuja Cements on rallies at around Rs 110 or Rs 115 levels. If one really wants to stay with t

  • Buy IT stocks on declines: VK Sharma 

    2nd June, 2008 12:39

    VK Sharma of Anagram Stock Broking is of the view that one can buy IT stocks on decline of 2-3% from current level. IT has run up of almost 41% in the IT index fro

  • Tata Motors increases prices of passenger vehicles

    2nd June, 2008 12:35

    Tata Motors increases prices of passenger vehicles. The increase on the Indica, the Indigo and the Indigo Marina is in the range of 1 to 2%. The increase on the Su

  • Gokul Refoils & Solvent to list on the bourses

    2nd June, 2008 12:25

    Gokul Refoils and Solvent Limited., to list on the Bombay Stock Exchange (BSE) on June 4, 2008 with 2,63,79,000 equity shares. The company had entered the capital

  • Buy Opto Circuits, target of Rs 528: Karvy

    2nd June, 2008 12:23

    Karvy Stock Broking has maintained its buy rating on Opto Circuits India with a price target of Rs 528. At the current market price of Rs 336, the stock is trading

  • Raymond trips on selling pressure

    2nd June, 2008 12:18

    At 12:08 pm, Raymond was quoting at Rs 244.95, down Rs 17.1, or 6.53%. It has touched an intraday high of Rs 258 and an intraday low of Rs 243. It was trading with

  • Indian GDRs: Infosys up 8.2%, Ranbaxy up 7.7%

    2nd June, 2008 12:13

    Indian GDRs: Infosys, Ranbaxy, L&T, Satyam, ITC, Sterlite, Tata Comm and Dr Reddy's gained.

  • Maruti Suzuki sold 69,001 vehicles in May 2008

    2nd June, 2008 12:07

    Maruti Suzuki India Limited sold 69,001 vehicles in May 2008. The company had sold a total of 59,400 vehicles in May 2007. The company exported 4,858 units in May

  • Asian Electronics touches 52-week low

    2nd June, 2008 12:05

    Asian Electronics has touched a 52-week low of Rs 137.50. At 11:55 am, the share was quoting at Rs 137.95, down Rs 9.85, or 6.66%. It was trading with volumes of 9

  • Shiv Vani Oil & Gas shoots up smartly

    2nd June, 2008 11:56

    At 11:46 am, Shiv Vani Oil & Gas Exploration Services was quoting at Rs 649.50, up Rs 38.55, or 6.31%. It has touched an intraday high of Rs 655 and an intraday lo

  • Hindalco top loser on Sensex

    2nd June, 2008 11:53

    Hindalco Industries is top loser on the Sensex. At 11:43 am, the share was quoting at Rs 186.05, down Rs 5.9, or 3.07%. It has touched an intraday high of Rs 193.5

  • Jaiprakash Associates leads gainers on Sensex

    2nd June, 2008 11:40

    Jaiprakash Associates is top gainer on the Sensex. At 11:29 am, the share was quoting at Rs 220.05, up Rs 6.85, or 3.21%. Jaiprakash Asso has touched an intraday h

  • Lotus Eye Care sells 2.55 lk shrs in pre-IPO placement

    2nd June, 2008 11:36

    In a pre-IPO placement, Lotus Eye Care Hospital has sold 2,55,000 equity shares of Rs 10 each to the Bennet, Coleman & Company, publishers of Times of India and T

  • Maruti Suzuki a safer bet: Tandon  

    2nd June, 2008 11:34

    Anand Tandon, Director Equities, Brics Securities is of the view that Maruti Suzuki is a safer bet.

  • Hold Gujarat NRE Coke, Sesa Goa: Tandon 

    2nd June, 2008 11:28

    Anand Tandon, Director Equities, Brics Securities is of the view that one can hold Gujarat NRE Coke, Sesa Goa.

  • Hero Honda among major gainers

    2nd June, 2008 11:08

    Hero Honda Motors is among major gainers on the Nifty. At 11:03 am, the share was quoting at Rs 777.20, up Rs 31.05, or 4.16%. It was trading with volumes of 75,14

  • India overvalued than most EMs: GMO 

    2nd June, 2008 10:59

    Arjun Divecha, Portfolio Manager, and Member-Board Of Directors, GMO, said India is less attractive due to expensive valuations and has a slower economic momentum.

  • Sun Pharm top gainer on the Nifty

    2nd June, 2008 10:49

    Sun Pharmaceutical Industries is the top gainer on the Nifty. At 10:45 am, It was quoting at Rs 1,469.55, up Rs 66.85, or 4.77%. It was trading with volumes of 115

  • Infosys has target of Rs 2060-2070: Bose 

    2nd June, 2008 10:43

    Technical Analyst, Rajat K Bose is of the view that Infosys Technologies has target of Rs 2060-2070. If it were to fall below Rs 1,990 at least one should book par

  • Buy Jindal Steel & Power: ICICI Securities

    2nd June, 2008 10:34

    ICICI Securities has upgraded its rating on Jindal Steel & Power to buy from hold.

  • Sterlite Inds acquires Asarco for $2.6bn, stk up

    2nd June, 2008 10:21

    At 10:11 am, Sterlite Industries was quoting at Rs 950.15, up Rs 15.25, or 1.63%. The company has acquired Asarco for USD 2.6 billion, its become world’s 3rd large

  • Forget cheap air travel, fares to go up by 20%

    2nd June, 2008 10:17

    New Delhi: The Rajdhani Express would be a better idea if you are planning a budget holiday this season as flying is once again slowly getting out of reach for the

  • Bank of Rajasthan approves 1:5 bonus, stk down

    2nd June, 2008 10:10

    At 10 am, Bank of Rajasthan was quoting at Rs 108.80, down Rs 1.8, or 1.63%. It has touched an intraday high of Rs 112.90 and an intraday low of Rs 106. The compan

  • Maruti May sales up 16.2% at 69,001 units

    2nd June, 2008 10:00

    Maruti Suzuki India has declared its May sales numbers. The company's May sales were up by 16.2% at 69,001 units versus 59,400 units on YoY basis.

  • Zandu Pharma up 5.7% as Emami buys 27.5% stake

    2nd June, 2008 10:00

    Zandu Pharmaceuticals Works has touched a 52-week high of Rs 8,678. At 09:59 am, the share was quoting at Rs 8,599, up Rs 466.20, or 5.73% on the NSE. Emami has ac

  • Mkts to factor in a small hike: Brics Secs 

    2nd June, 2008 09:56

    Anand Tandon of Brics Securities said that the June situation is not any better than May. The GDP numbers though high, he still sees a GDP slowdown may still pull

  • Expect flat opening: Networth

    2nd June, 2008 09:46

    According to Networth Stock Broking Market Review report, Markets are expected to open flat.

  • See resistance at 5020-5045 levels: Bose 

    2nd June, 2008 09:43

    This morning markets might make an attempt to clear the resistance between 4,920 and 4950. He thinks 5,020 - 5,045 is a major potential resistance area, but techni

  • Left will make difficult for price hike to go through 

    2nd June, 2008 09:32

    It is better that decision on fuel price hike come this week otherwise it will be like a cry wolf situation. We thought it might come last week and this weekend bu

  • Buy Emco, target of Rs 300: Hem

    2nd June, 2008 09:27

    Hem Securities has recommended a buy rating on Emco with a target of Rs 300. The company has posted the compounded annual growth rate of 58.77% in top line and 88.

  • Crude at $127.71/bbl

    2nd June, 2008 09:25

    International crude prices continue to rise as the dollar declined against the euro, reaffirming the appeal of commodities as an inflation hedge. Oil gained 33 per

  • Nagarjuna Construction Q4 net profit at Rs 52.63 cr

    2nd June, 2008 09:10

    Nagarjuna Construction Co has declared its standalone results for the quarter ended March 2008 (Q4). The company's Q4 standalone net profit was at Rs 52.63 crore v

  • Rupee opens at Rs 42.16 per dollar

    2nd June, 2008 09:05

    The Indian Rupee opened at Rs per dollar versus Rs 42.46 Friday.

  • Nifty Open Int PCR declines at 1.86 Vs 2.08 

    2nd June, 2008 09:02

    FIIs were net buyers worth Rs 577 crore in Nifty Options and net sellers of Rs 364 crore in Stock futures. Nifty futures added 5.4 lakh shares in Open Interest and

  • Sell MCX August Gold on rallies to Rs 12325

    2nd June, 2008 09:00

    In case of gold, one could sell MCX August on rallies to Rs 12,325 per 10 grams with a target of Rs 12,025 per 10 grams, says Gnanasekhar.

  • Support for Nifty at 4782

    2nd June, 2008 08:55

    The crucial support on the Sensex is at 16197 and the resistance to the up move is at 16784-17147. On the Nifty front the crucial supports exists at 4782 and resis

  • Bajaj Auto May sales up 4% at 2.01 lakh units

    2nd June, 2008 08:52

    India's second largest two-wheeler player, Bajaj Auto has announced its May sales numbers. It has sold 2.01 lakh units in the month of May 2008 as against 1.93 lak

  • Nifty likely to witness range of 4920-4825

    2nd June, 2008 08:49

    The coming session is likely to witness a range of 4920 / 4825. If the Nifty spot trades above the 4880 levels for majority of the session, expect an optimistic un

  • Tyre dealers voice concern over price hikes

    2nd June, 2008 08:46

    Tyre dealers will meet the Union Industry Secretary, Mr Ajay Shankar, on Monday opposing “indiscriminate tyre price hikes by domestic tyre majors”.

  • Reebok sets store by women

    2nd June, 2008 08:44

    “Befriending our women customers,” is how Mr Sajid Shamim, Director-Marketing and Products, Reebok India Company, describes Reebok’s renewed focus on women-wear an

  • Stocks in news: Adhunik Metaliks, Sterlite, Emami

    2nd June, 2008 08:41

    Stocks in news: Adhunik Metaliks in the board meet will consider merger / amalgamation of Vedvyas Ispat & Sri MP Ispat with itself. Sterlite has acquired Asarco fo

  • Inflation a concern more for West than Asia: Tyche Group 

    2nd June, 2008 08:39

    Speaking to CNBC-TV18 Stephen Gollop, CEO at Tyche Group says inflation is more orf a concern for the West that Asia because Asian economies in spite of inflation

  • Fund Action witnessed in stocks on 30th May

    2nd June, 2008 08:35

    On May 30, fund action was witnessed in Mercator Lines, Kohinoor Foods, Piramal Life Science , Prajay Eng, Rallis, Uniphos Enterprises, Sujana Towers and Godrej Co

  • F&O cues: Futures Open Int up by Rs 748 cr

    2nd June, 2008 08:27

    F&O cues: Nifty futures add 5.4 lakh shares in Open Int, at 20-point discount. Futures Open Int up by Rs 748 crore, Options Open Int up by Rs 2,693 crore.

  • Asian markets end higher; Hang seng up 298 points

    2nd June, 2008 08:22

    Asian markets ended higher. Hong Kong's Hang Seng rose 1.22% or 298.24 points at 24,831.36. Taiwan's Taiwan Weighted advanced 1.22% or 105.39 points at 8,724.47. J

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