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Moneycontrol News Archive : 24 June, 2008

  • Stocks to trade at lower PE multiples: Raamdeo Agrawal 

    24th June, 2008 21:23

    Raamdeo Agrawal, MD, Motilal Oswal said he was surprised that both the rate hikes came together. "However, expectations of a rate hike were built-in. The bulk of t

  • FOMC set to hold target rate: Experts

    24th June, 2008 20:50

    Most economists and market participants believe that the Federal Open Market Committee or the FOMC will keep its target rate unchanged at 2%, even if inflationary

  • Tata Comm to buy addl 30% in Neotel

    24th June, 2008 19:41

    Tata Communications to buy a further 30% stake in South African telecom company Neotel, reports CNBC-TV18, quoting Newswire18.

  • NCDEX- Trade details for June 24, 2008

    24th June, 2008 19:09

    NCDEX, 1,556 users participated in trading on June 24, 2008 up to 5:00 pm and volumes were Rs 2,098 crore (one-way). There were more than 56,298 trades put throu

  • India Information Security Conference kicks off in Mumbai

    24th June, 2008 18:59

    The India Information Security Conference 2008, organised by 9.9 Mediaworx was inaugurated in Mumbai with over 15 industry stalwarts from across the country shared

  • Jain Irrigation bags Rs 227.7mn export order

    24th June, 2008 18:50

    Jain Irrigation the Rs 20 bn agri irrigation company has secured an export order for supply of PVC pipes and fittings as well as sprinkler system for irrigation us

  • Congress backs PM on Indo-US nuke deal 

    24th June, 2008 18:34

    A day ahead of the crucial Left-UPA meeting on the Indo-US nuclear deal, the Congress party has come out strongly in support of the deal. The party also made it cl

  • Jeevansathi.com unveils its new TV commercial

    24th June, 2008 18:20

    Jeevansathi.com, India’s fastest growing matrimonial site, has launched its latest TV commercial. Through an interesting creative treatment, the ad emphasises that

  • Dabur to grow product portfolio, int'l mkt share 

    24th June, 2008 18:01

    Double digit inflation not withstanding, Dabur is moving ahead with its expansion plans; both organic and inorganic. The company aims to grow its market share in A

  • Rupee ends flat, bonds higher

    24th June, 2008 17:53

    The spot rupee ended flat at Rs 42.96 per USD. The widely traded 8.24%, 2018 paper closed higher at Rs 97.85 as against its previous close of Rs 97.35.

  • GMR Group to foray in petrochemical biz 

    24th June, 2008 17:40

    Infrastructure major GMR Group is all set to foray into petrochemicals. GMR will acquire ONGC’s stake in Kakinada refineries and petrochemicals. GMR's dreams of en

  • Apollo Hospitals FY08 cons PAT down at Rs 77.10 cr

    24th June, 2008 17:28

    Apollo Hospitals Enterprises has announced its FY08 results. The company's consolidated net profit was down at Rs 77.10 crore from Rs 95.40 crore, YoY.

  • Crude to breach $138/bbl soon: Commtrendz 

    24th June, 2008 17:20

    T Gnanasekar, Director, Commtrendz, feels crude is likely to breach USD 138 per barrel soon. "Crude is moving up right now on threats to output cuts in Nigeria due

  • S Kumars, Indivest to invest Rs 900cr in Reid & Taylor

    24th June, 2008 17:04

    S Kumars and Indivest Pte will invest Rs 900 crore via fresh shares and warrants in Reid & Taylor, reports CNBC-TV18. Indivest is an affiliate of GIC Investment. S

  • Ramco posts global revenues of USD 50.66m for FY07-08

    24th June, 2008 16:55

    Ramco has posted positive growth and recorded global revenues of USD 50.66 m for the financial year 2007-08.

  • GIGABYTE unveils graphics accelerators for gaming

    24th June, 2008 16:47

    GIGABYTE unveils next generation graphics accelerators for extreme gaming performance. GIGABYTE UNITED INC, a leading manufacturer of motherboards and graphics car

  • 10-15% fall expected in telecom space: Mohindar 

    24th June, 2008 16:38

    Rahul Mohindar of Viratechindia is of the view that 10-15% fall is expected in telecom space.

  • @home comes to Vadodra

    24th June, 2008 16:31

    ‘@home’ believes in offering their customers with the best of home products from around the world.

  • Market wide rollover 39%-40% 

    24th June, 2008 16:25

    A triple witching day is actually on Thursday, so we are just two days away from triple witching day. On the rollover front, we are actually seeing 39%-40% market

  • MRT’s 2007-08 net profit up by 81.39%

    24th June, 2008 16:14

    MRT’s net profit increased by 81.39% to Rs 1.56 crore for the 12 months ended March 31st, 2008 as compared to Rs 0.86 crore during the year ended March 31st, 2007.

  • No deal, Left junks UPA allies' compromise idea

    24th June, 2008 16:08

    As the Congress-led coalition grapples with the Indo-US Nuclear deal issue, it now appears that the left has rejected the allies' formula to allow the Government t

  • “Best Western” ties up with SCS Ltd

    24th June, 2008 16:04

    World’s largest Hotel chain “Best Western” ties up with SCS Ltd. to introduce Mumbai’s first Condo Hotel

  • Stocks to watch: HUL, Rel Comm 

    24th June, 2008 15:54

    Markets witnessed sharp sell off for fifth consecutive trading session on the back of heavy selling from foreign investors. It seemed like bears become uncontrolla

  • Tata Chemicals FY08 net profit at Rs 964 cr

    24th June, 2008 15:46

    Tata Chemicals has announced its FY08 results. The company's FY08 net profit was at Rs 964 crore.

  • eClerx’s Q4FY08 revenue stood at Rs 40.95cr

    24th June, 2008 15:41

    eClerx’s Q4FY08 revenue stood at Rs 40.95 cr

  • TCS to design & implement integrated tax system for Uganda

    24th June, 2008 15:34

    Tata Consultancy Services, the leading IT services, business solutions and outsourcing firm, has won a transformational engagement from the Uganda Revenue Authorit

  • Dell announces DellTM PowerVaultTM MD1120

    24th June, 2008 15:31

    Dell optimizes storage for performance-intense applications. The Dell PowerVault MD1120 affords its customers higher performance through faster access to stored da

  • Patel Engg FY08 cons net profit at Rs 151.9 cr

    24th June, 2008 15:14

    Patel Engineering Company has announced its FY08 results. The company's FY08 consolidated net sales were at Rs 1,859.6 crore.

  • HDIL tumbles 3.7%

    24th June, 2008 15:12

    HDIL has touched a 52-week low of Rs 465.60. At 3:08 pm, the share was quoting at Rs 472.40, down Rs 18.15, or 3.7%. It was trading with volumes of 2,030,868 share

  • FCS Q4 PAT up by 40%

    24th June, 2008 15:10

    FCS' PAT climbed 40% YoY to Rs 3241.04 lacs from Rs 2308.97 lacs. The company's Net Sales for FY08 stands at Rs 20418.42 lacs, a hop of 32% as against Rs 15434.95

  • Block deal in Jain Irrigation, stock down

    24th June, 2008 15:07

    At 2:57 pm, Jain Irrigation Systems was quoting at Rs 468, down Rs 10.45, or 2.18%. It has touched an intraday high of Rs 480 and an intraday low of Rs 466. It was

  • Vallée de Vin unmasks Zampa wine brand

    24th June, 2008 14:59

    Vallée de Vin has launched Zampa, its flagship brand of premium wines that is bound to surprise and fascinate wine connoisseurs in India. The brand named Zampa is

  • Somi Conveyor Beltings to raise Rs 16.5 cr through IPO 

    24th June, 2008 14:56

    Om Prakash Bhansali, Chairman & MD of Somi Conveyor Beltings said they are raising Rs 16.55 crore through the Initial Public Offering (IPO) and also we are putting

  • NIIT enters into strategic alliance with Infospectrum

    24th June, 2008 14:49

    NIIT enters into a strategic alliance with Infospectrum to offer proven Educational Resource Planning Solutions

  • Sell Tata Power, target of Rs 1035: IIFL

    24th June, 2008 14:47

    IIFL has maintained its sell rating on Tata Power Company with a 12-month target price of Rs 1035. TPC is arguably one of the best-managed private utilities in Ind

  • Kamdhenu Ispat eyes on SAARC countries rolls in Nepal

    24th June, 2008 14:40

    Kamdhenu would be covering a major part of Nepal’s construction market through this unit, which in turn would enable it to offer world class TMT Steel Bars across

  • Hindustan Unilever rolls down

    24th June, 2008 14:31

    At 2:20 pm, Hindustan Unilever was quoting at Rs 215, down Rs 11.55, or 5.1%. It has touched an intraday high of Rs 227.50 and an intraday low of Rs 214.55. It was

  • Birla Sun Life MF declares dividend in 3 equity schemes

    24th June, 2008 14:28

    Birla Sun Life Mutual Fund has announced dividends in its three equity schemes i.e. Birla Sun Life Tax Relief 96, Birla Midcap Fund and Birla Sun Life New Millenni

  • Patni Life Sciences launches PatniADEPT

    24th June, 2008 14:21

    Patni Computer Systems,, a leading global IT services provider, announced the introduction of a new service that will perform adverse event case processing for ph

  • Torrent Pharma shoots up smartly

    24th June, 2008 14:15

    At 2:05 pm, Torrent Pharmaceuticals was quoting at Rs 176.40, up Rs 21.35, or 13.77%. It has touched an intraday high of Rs 182.15 and an intraday low of Rs 158. I

  • Below Rs 2125 RIL looks weak: Bhambwani

    24th June, 2008 14:15

    Technical Analyst, Vijay Bhambwani is of the view that Reliance Industries is looking weak as long as it trades below Rs 2125.

  • Governor’s Remarks on Inflation

    24th June, 2008 14:12

    Governor’s Remarks on Inflation. The following are the Governor’s remarks on inflation on the sidelines of the Fifth convocation function of National Institute of

  • 4300 Call is acting as a pretty strong resistance  

    24th June, 2008 14:04

    It is looking a bit dicey in the F&O space. One bit of news though is that 4300 level seems to be a key pivotal point for this F&O expiry. Most active Call and Put

  • RIL has support at Rs 1970-2000: J Bala 

    24th June, 2008 14:00

    Jai Bala of cashthechaos.com is of the view that Reliance Industries has support at Rs 1970-2000. It has actually broken a long term trend-line at Rs 2160 and it c

  • Hold cash now, long-term invt can bottom-fish: Jai Bala 

    24th June, 2008 14:00

    Jai Bala of cashthechaos.com said it is best to stay on cash and wait for a rise to short the market. He is against the view that long-term investors should get i

  • Stay away from anti-oil space: Bharati AXA 

    24th June, 2008 13:34

    Prateek Agrawal, Manager and Head of equities at Bharati Axa Investment believes that in terms of the pace of an increase, the life insurance companies have been s

  • CoR of Narayana Capitals cancelled

    24th June, 2008 13:33

    Certificate of Registration of Narayana Capitals Limited Cancelled. The business of a non-banking financial institution is defined in clause (a) of Section 45-I of

  • Sterlite Ind loses further ground

    24th June, 2008 13:29

    At 1:19 pm, Sterlite Industries was quoting at Rs 707, down Rs 30.85, or 4.18%. It has touched an intraday high of Rs 735 and an intraday low of Rs 698. It was tra

  • Multiple rate hikes on anvil if oil boils: PNB 

    24th June, 2008 13:26

    Arun Kaul, GM-Treasury Finance, Punjab National Bank said the market does expect some sort of monetary tightening by the RBI, if oil and inflation continues to be

  • Reliance Power plunges 4%

    24th June, 2008 13:23

    Reliance Power has touched a 52-week low of Rs 154.80. At 1:14 pm, the share was quoting at Rs 155.55, down Rs 6.7, or 4.13%. It was trading with volumes of 2,236,

  • Investment by FIIs under PIS

    24th June, 2008 13:18

    Investment by FIIs under PIS - Geekay Finance and Services Limited. The Reserve Bank has stated that FII investments of this company has reached the 22 percent of

  • GAIL: Issuance of 1 bonus share for 2 equity shares held

    24th June, 2008 13:11

    The Board of Directors of GAIL (India) Limited in its meeting held today has recommended issuance of one bonus share for two equity shares held, subject to the req

  • Liquidity Adjustment Facility: Auction Results

    24th June, 2008 12:57

    Liquidity Adjustment Facility: Auction Results. The results of the RBI Repo/Reverse Repo auctions held on June 23, 2008.

  • VK Sharma bearish on RIL 

    24th June, 2008 12:42

    VK Sharma of Anagram Stock Broking is bearish on Reliance Industries.

  • Allied Digital close to buy Tech Soln Co, stock gains

    24th June, 2008 12:31

    At 12:21 pm, the share was quoting at Rs 793, up Rs 43.70, or 5.83%. It has touched an intraday high of Rs 793 and an intraday low of Rs 745. According to sources,

  • Allied Digital to buy Nasdaq-listed tech co: Srcs 

    24th June, 2008 12:28

    CNBC-TV18 has learnt from sources that Allied Digital is close to buying a Nasdaq-listed technology solution provider. Due diligence has been completed by Allied D

  • ITC leads losers on Sensex

    24th June, 2008 12:25

    ITC is top loser on the Sensex. At 12:16 pm, the share was quoting at Rs 188, down Rs 7.4, or 3.79%. It has touched an intraday high of Rs 196 and an intraday low

  • Bharat Petroleum drops 3.2%

    24th June, 2008 12:22

    At 12:19 pm, Bharat Petroleum Corporation, BPCL was quoting at Rs 257.00, down Rs 8.65, or 3.26%. It has touched an intraday high of Rs 269 and an intraday low of

  • Lafarge launches Concreto, its premium cement brand

    24th June, 2008 12:13

    Cement manufacturer Lafarge India, announced its association with ace cricketer and India Captain, Mahendra Singh Dhoni, in line with its strategy to be a leading

  • Buy Sintex Industries, target of Rs 587: Religare

    24th June, 2008 11:58

    Religare Research has maintained its buy rating on Sintex Industries with a target price of Rs 587. Sintex Industries has acquired Digvijay Communications and Netw

  • M&M to raise Rs 20 cr via right issue 

    24th June, 2008 11:45

    Rajeev Dubey, President of After Market Biz, Mahindra and Mahindra said that the company plans to infuse Rs 80 Crore via rights issue and other means. The company

  • Above Rs 2120 expect further upswing in RIL: Bose 

    24th June, 2008 11:30

    Technical Analyst, Rajat K Bose is of the view that above Rs 2120 one can expect further upswing in Reliance Industries.

  • Suzlon Energy among major gainers

    24th June, 2008 11:25

    Suzlon Energy is among major gainers on the Nifty. At 11:20 am, the share was quoting at Rs 234.90, up Rs 7, or 3.07%. It has touched an intraday high of Rs 235.90

  • Birla Cotsyn IPO opens on June 30

    24th June, 2008 11:22

    Birla Cotsyn (India), a company of the Yash Birla Group, engaged in textile manufacturing, plans to enter the capital market with an IPO of Rs 144.18 crores. The 1

  • US dollar declined by 1.5% in the last week 

    24th June, 2008 11:09

    Let’s take a currency check first because we saw US dollar declined by 1.5% in the last week and that supported the commodities but yesterday US dollar rebounded b

  • Fund of funds may see redemptions: Experts 

    24th June, 2008 11:02

    Markets have seen USD 6.2 billion of FII outflows this year; shorting for the last many weeks and in that backdrop the India Hedge Fund Conference at Geneva assume

  • Unitech can bounce back to Rs 184: Bose 

    24th June, 2008 10:56

    Technical Analyst, Rajat K Bose is of the view that Unitech can bounce back to Rs 184. It has actually come close to another major support area around Rs 170. It w

  • Don't invest in banking stocks: G Nadkarni 

    24th June, 2008 10:45

    Girish Nadkarni, ED- Cap Markets of Avendus Advisors is of the opinion that one shouldn't invest in banking stocks. It will be under pressure right now because it

  • Buy Aban Offshore, tgt Rs 5330: Emkay

    24th June, 2008 10:41

    Emkay report has maintained buy rating on Aban Offshore with taret price of Rs 5330. We believe that offshore oilfield service’s industry fundamentals remain compe

  • Buy infrastructure stocks: G Nadkarni 

    24th June, 2008 10:36

    Girish Nadkarni, ED- Cap Markets, Avendus Advisors suggests buying infrastructure stocks at this level. The long-term story of infrastructure in India is intact. T

  • Telecom a safe sector to invest: G Nadkarni 

    24th June, 2008 10:30

    Girish Nadkarni, ED- Cap Markets of Avendus Advisors is of the view that telecom sector is probably a very safe sector to invest in and does not have any impact o

  • GAIL up on 1:2 bonus issue news

    24th June, 2008 10:20

    At 10:16 am, Gail India was quoting at Rs 383.05, up Rs 4.75, or 1.26% on the NSE. The company board has approved 1:2 bonus issue, reports CNBC-TV18. It was tradin

  • Binani Cement to buy African cement firm, stk gains 4.7%

    24th June, 2008 10:17

    At 10:07 am, Binani Cement was quoting at Rs 60, up Rs 2.70, or 4.71%. The company is set to buy African cement firm for USD 100 million, reports The Economic Time

  • Hind Rectifiers to consider bonus issue, stk up 6%

    24th June, 2008 10:07

    At 10:02 am, Hind Rectifiers was quoting at Rs 173.35, up Rs 10, or 6.12% on the NSE. The company has board meet on bonus issue, reports CNBC-TV18. It was trading

  • Buy Rohit Ferro Tech,tgt Rs 190: PINC

    24th June, 2008 10:02

    PINC research has maintained buy rating on Rohit Ferro Tech with target price of Rs 190. RFTL, being one of the largest manufacturers of ferro alloys, is best plac

  • How accurate is the WPI? 

    24th June, 2008 09:58

    The Wholesale Price Index has become the most-watched guage, after perhaps the Sensex and the Nifty. But does it accurately measure inflation. And does it correctl

  • Nifty has support at 4225/4181: Hem

    24th June, 2008 09:55

    According to Hem Securities Morning Note, Nifty is having resistance at 4351/4411 while Support is at 4225/4181 levels.

  • Nifty may slip to 4220-4150: Angel

    24th June, 2008 09:50

    According to Angel Broking Technical Analysis report, if Nifty remains below 4240 level then we may witness a further downside up to 4220–4150 level.

  • We may see another decline today

    24th June, 2008 09:49

    European markets recovered a small part of their recent losses, while the US indices were mixed with the Dow unchanged and the NASDAQ down. Asian markets are down

  • Nifty may correct upto 4211–4155: Angel

    24th June, 2008 09:46

    According to Angel Broking Market Outlook report, if Nifty trades below 4281 for the first half-an-hour of trade then it may correct upto 4211–4155.

  • More pain for mkts in short-term: Avendus Adv 

    24th June, 2008 09:36

    Girish Nadkarni of Avendus Advisors sees a little more pain in the markets in the short-term. According to him, valuations seem depressed as far as large number of

  • No raging bull unless RIL, L&T bounce back 

    24th June, 2008 09:35

    If Reliance and L&T at some point don’t recover and lead, in my mind I am clear that is no raging bull market in India.

  • Jet Airways Q4 net loss seen at Rs 295 cr

    24th June, 2008 09:20

    Jet Airways is to announce its Q4FY08 numbers. According to CNBC-TV18 estimates, the company is expected to post net loss of Rs 295 crore for the quarter ended Mar

  • Assam Company Q1 net loss at Rs 16.3 cr

    24th June, 2008 09:18

    Assam Company has declared its results for the quarter ended March 2008 (Q1). In Q1 the company incurred a net loss of Rs 16.3 crore versus a loss of Rs 17.8 crore

  • Nuke deal depends on Sonia Gandhi's stance 

    24th June, 2008 09:17

    To discuss the possibilities of that meeting between the United Progressive Alliance (UPA) and the Left, Editor-in-Chief of CNN-IBN, Rajdeep Sardesai, believes it

  • Expect flat opening: Karvy

    24th June, 2008 09:11

    According to Karvy Technical Analysis report, world markets have ended on a mixed note after the previous day’s sell off. This suggests that domestic indices may s

  • Indian Hotels FY08 cons net profit at Rs 409 cr

    24th June, 2008 09:05

    Indian Hotels Company has declared its consolidated FY08 results. The company's FY08 consolidated adjusted net profit was at Rs 409 crore versus Rs 370 crore.

  • No great cues to swing mkts either way 

    24th June, 2008 09:02

    There are no great cues to swing the markets substantially either way today. Crude is pausing at USD 137 per barrel; there is not too much change for the stock mar

  • Nifty has support at 4185: Bose

    24th June, 2008 08:54

    Any fall now below 4225 would mean a test of 4185 potential support. Once this support is broken there will be a significant support around 4120 before the major p

  • JK to produce company branded tyres

    24th June, 2008 08:52

    JK Tyres said that it would start producing company branded truck tyres from the facility of its recently acquired Mexican company Tornel. The company would contin

  • Rane Engine Valve to resume trading

    24th June, 2008 08:50

    Rane Engine Valve will resume trading and there will be no circuit filter today. THe issued, subscribed and paid-up equity capital of the company post arrangement

  • Saint-Gobain plans Rs 1,000-cr float glass plant

    24th June, 2008 08:46

    Saint-Gobain Glass India Ltd plans to invest Rs 1,000 crore on a three lakh tonnes a year greenfield float glass making plant at Bhiwadi in Rajasthan. This will ta

  • Money calls: Prabhu, Nanivadekar

    24th June, 2008 08:44

    Liquidity continues to be under pressure and the inflation data is still a worry for the bond market, says Prabhu.

  • Equity calls: Vijay, Mahajan 

    24th June, 2008 08:40

    The market is heavily oversold and any upmove will require fresh triggers, says Vijay.

  • Avoid bargain hunting

    24th June, 2008 08:36

    The outlook for the markets today is that of continued caution as the only concerted buying effort is likely to be seen from the bears who book profits on short sa

  • F&O cues: Marketwide rollover at 26.5%

    24th June, 2008 08:26

    F&O cues: Nifty net Futures down 5% in Open Interest; shed 22.67 lakh shares in Open Interest. Marketwide rollover at 26.5% vs 16% a day ago.

  • Indian ADRs: Sterlite down 3.7%, Tata Comm slips 3.6%

    24th June, 2008 08:17

    Indian ADRs: Sterlite, Tata Comm, MTNL, HDFC Bank, ICICI Bank and Dr Reddy'd plunged.

  • Asian markets end lower

    24th June, 2008 08:11

    Asian markets ended lower. Japan's Nikkei was down 0.06% or 7.91 points at 13,849.56. Hong Kong's Hang Seng fell 1.14% or 258.94 points at 22,456.02. Taiwan's Taiw

  • RBI hikes CRR, repo rate; experts see growth, mkts impacted 

    24th June, 2008 21:00

    The Reserve Bank of India, or RBI, has moved yet again in its ongoing fight against rising inflation, reports CNBC-TV18. It has hiked the Cash Reserve Ratio, or CR

  • Vodafone to file rejoinder in Bom HC 

    24th June, 2008 19:51

    Vodafone and the income tax, or I-T Department will continue to slug it out in court over the USD 2 billion tax claim, reports CNBC-TV18. Vodafone is likely to fil

  • Tatas to acquire majority stake in Neotel

    24th June, 2008 19:15

    Tata Communications has entered into an agreement with Eskom and Transnet (two South African state-owned enterprises) to acquire their 30% interest in Neotel, the

  • Watch out for Mumbai's Skywalk! 

    24th June, 2008 19:01

    Mumbai's just got its first Skywalk today; a pedestrian overbridge costing Rs 13 crore that pedestrians can use to avoid the congested roads. It is the first major

  • Mkt downtrend clearly established 

    24th June, 2008 18:51

    We remain in a very difficult kind of market condition at this point and all that talk of the market recovering and giving you rallies is actually more hope and pe

  • HDIL Group makes foray into Broadcasting

    24th June, 2008 18:40

    HDIL Group is acquiring 51% shareholding in Broadcast Initiative Limited, one of the leading National Hindi News Channel, 51% shareholding in Sri Adhikari Brother

  • PSL revenues improve 40% to Rs 2261cr for FY07-08

    24th June, 2008 18:29

    PSL Limited Announces Annual Financial Results FY2007/08 Revenues improve 40% to Rs. 2,261 cr. FY2007/08 PAT up 36% to Rs. 84.77 cr. Declares Final Dividend of

  • Hyundai Motor India to subsidize fuel bills

    24th June, 2008 18:11

    Hyundai Motor India Ltd, India’s largest exporter and fastest growing auto manufacturer, in its first of its kind initiative, is offering a free fuel voucher worth

  • MediaCorp Radio Station joins with BIG 92.7FM

    24th June, 2008 17:59

    As Singapore’s Radio Network MediaCorp, joins hands with India’s leading FM Network BIG 92.7 FM to offer the local populace, Singapore’s only Bollywood Radio Stati

  • Bigadda designs MoBlog for Big B

    24th June, 2008 17:50

    Bigadda has introduced MoBlog exclusively for the Big B. Big B’s fans, who leave thousands of comments on his blog site everyday, will now be updated even when the

  • HDFC Sec sees more near-term pain in mkts 

    24th June, 2008 17:34

    Sanju Verma, ED, HDFC Securities, sees more pain in the near-term. "Investors are looking to cut their losses. A lot of the bad news is already priced in. Large sh

  • Duncans Tea launches Double Diamond Gold

    24th June, 2008 17:20

    Duncans Tea Ltd, one of the leaders in branded packaged tea, has launched their Super Premium brand - Double Diamond Gold that offers a fine balance of flavour and

  • NGOs can use UltraKey to impart touch-typing training

    24th June, 2008 17:09

    Bytes of Learning Incorporated, and NASSCOM Foundation will offer Bytes of Learning’s highly praised UltraKey typing instruction software to non-profit groups and

  • Honda rolls out third generation City by year-end 

    24th June, 2008 17:00

    Honda's super succesful City will drive out in a new avataar by the end of the year. It is a hatrick for Honda: the new Accord, Civic Hybrid and the City. After a

  • Jet Airways Q4 net loss at Rs 221.2 cr

    24th June, 2008 16:55

    Jet Airways has announced its results for the quarter ended March 2008 (Q4). The company has incurred a net loss of Rs 221.2 crore versus loss of Rs 88 crore.

  • Long-term invt can cherry-pick at these levels: Amit Dalal 

    24th June, 2008 16:41

    Amit Dalal of Amit Nalin Securities advised investors to space out their stock picks. "At 20,000-21,000, if an investor comes to me, my instinct would be to book s

  • Q2, Q3 nos hold key to hedge funds India inflows: Venus Cap 

    24th June, 2008 16:33

    Vik Mehrotra, Venus Cap Mgmt feels hedge funds have paused India invt. "The general view is that we have got 2 wait till the subprime problem plays out in the West

  • Invest in TV18: A Dalal 

    24th June, 2008 16:30

    Amit Dalal of Amit Nalin Securities is of the view that one can invest in TV18 at this price.

  • Accumulate Mercator Lines, tgt Rs 152: ULJK

    24th June, 2008 16:15

    ULJK Securities has recommended an accumulate rating on Mercator Lines with a target price of Rs 152. At this price, the stock will discount FY’09 and FY’10 earnin

  • Winston Tan takes charge of Creative Tech's operations

    24th June, 2008 16:10

    Winston Tan takes charge of Creative technology's operations in India. Since its inception in 1981 in Singapore, Creative has grown rapidly to be acknowledged as t

  • HUL can slide by another Rs 10-15: Mohindar 

    24th June, 2008 16:08

    Rahul Mohindar of Viratechindia is of the view that Hindustan Unilever, HUL can slide by another Rs 10-15. He advices to stay from this sector.

  • Global investors +ve on India despite inflation: Experts 

    24th June, 2008 15:59

    Sunil Singhania of Reliance Capital Asset Management said that people are a little worried about the volatility and inflation number and oil prices are causing con

  • Bafna Pharmaceuticals approved for UK & European mkts

    24th June, 2008 15:53

    Bafna Pharmaceuticals Limited, a multi-product pharmaceutical formulations company in diverse therapeutic segments, has received Medicines and Health Care Products

  • Buy RIL on a big correction: A Dalal 

    24th June, 2008 15:45

    Amit Dalal of Amit Nalin Securities is of the view that one should buy Reliance Industries on any big correction.

  • Religare Finvest issues CCD's for Rs 100cr

    24th June, 2008 15:39

    Religare Finvest Limited issues Compulsory Convertible Debentures (CCD’s) for Rs 100cr. These CCD’s will form part of the Tier II capital of the Company and will h

  • Welspun Guj bags Rs 2,000 cr US order: Srcs

    24th June, 2008 15:32

    Welspun Gujrat may bag a Rs 2000 crore order from North America reports CNBC-TV18 quoting sources. The order is likely to be executed over the next two years.

  • TV Today Q4 net profit at Rs 13.5 cr

    24th June, 2008 15:24

    TV Today Network has declared its results for the quarter ended March 2008 (Q4). The company's net profit was at Rs 13.5 crore versus 16.6 crore on QoQ basis.

  • Parikhs up stake in Zandu Pharma by 1.4%  

    24th June, 2008 15:14

    Parikhs has increased the stake in Zandu Pharma by 1.4% between June 13-19. In a letter to SEBI, Parikhs have said that they would thwart Emami group's attempt to

  • Buy Indian Hotels Co, target of Rs 115: India Infoline

    24th June, 2008 15:10

    India Infoline has recommended a buy rating on Indian Hotels Company with a target price of Rs 115. With the full fledged roll out of ‘Ginger’ brand of budget hote

  • Is it the right time to start SIPs?

    24th June, 2008 15:08

    Recovery to the new high would take anywhere between 27-46 months from the previous peak. In such cases how do small retail investors manage their money? The most

  • Sical Logistics eyeing airfreight biz foray  

    24th June, 2008 15:00

    Sudhir Rangnekar, MD & Group CEO of Sical Logistics said that they are getting into airfreight business through an acquisition or a joint venture with other compan

  • Are FMPs a better place to invest in? 

    24th June, 2008 14:59

    The taxation structure in these funds is much better than what it would be for a fixed deposit. Investors make above 8%- 8.2% of post tax returns in FMPs whereas t

  • Largecaps attractive to investors now: LKP 

    24th June, 2008 14:54

    S Ranganathan of LKP Shares said rising crude and commodity prices, high inflation, and upward headed interest rates have dented the fundamentals of midcap compani

  • Mirae Asset MF launches Global Commodity Stocks Fund

    24th June, 2008 14:48

    Mirae Asset Mutual Fund has launched Global Commodity Stocks Fund that will invest in commodity and commodities related sectors/sub sectors/industries, with at lea

  • Larsen continues to slide

    24th June, 2008 14:46

    At 2:35 pm, Larsen and Toubro, L&T was quoting at Rs 2,313, down Rs 83.3, or 3.48%. It has touched an intraday high of Rs 2,442.50 and an intraday low of Rs 2,307.

  • ViewSonic introduces 2 additions to its VA Series of LCD's

    24th June, 2008 14:31

    ViewSonic Corporation, a leading global provider of visual display products, has introduced two new additions to its VA Series of LCD's - the widescreen - 19-inch,

  • Money Market Operations

    24th June, 2008 14:30

    Financial Markets Department. Money Market Operations.

  • GTC Industries locked at 5% lower circuit

    24th June, 2008 14:23

    GTC Industries is locked at 5% lower circuit. It has touched a 52-week low of Rs 135.90. At 2:13 pm, the share was quoting at Rs 135.90, down Rs 7.1. There were pe

  • Banks likely to remain under performer: Bhambwani

    24th June, 2008 14:19

    Technical Analyst, Vijay Bhambwani feels that banking stocks are likely to remain under performers because they are likely to be sensitive to the inflation announc

  • How have fund flows shaped up this year? 

    24th June, 2008 14:15

    Foreign institutional investors have sold Rs 8,430 crore this month. The outflows amount to nearly 10% of total FII inflows to India till date. Fund outflows, at

  • Sulekha.Com partners with Career Builder India

    24th June, 2008 14:14

    Sulekha.com, the most popular community for Indians worldwide today launched their 'Premium jobs' section, for which they have partnered with leading jobs portal C

  • IFCI has resistance at Rs 53: J Bala 

    24th June, 2008 14:05

    Jai Bala of cashthechaos.com is of the view that IFCI has resistance at Rs 53. It still has some downward room to go. But being a liquid stock and small size, that

  • Indian Hotels declares result; stock down

    24th June, 2008 14:04

    Indian Hotels has touched a 52-week low of Rs 88.50. At 1:54 pm, the share was quoting at Rs 89, down Rs 3.95, or 4.25%. It has declared its consolidated FY08 resu

  • Alternative invst, film funds attractive to FIIs: Vistaar 

    24th June, 2008 14:00

    Sheetal Talwar of Vistaar Religare Cap said the India growth story is still strong and investors are looking at alternate investment opportunities, she said. Also

  • RBI cancels CoR of Dhanwanti Investment

    24th June, 2008 13:49

    Reserve Bank cancels Certificate of Registration of Dhanwanti Investment Limited. Following cancellation of the registration certificate, Dhanwanti Invetment Limit

  • Allahabad Bank touches 52-week low

    24th June, 2008 13:34

    Allahabad Bank has touched a 52-week low of Rs 58.75. At 1:25 pm, the share was quoting at Rs 58.75, down Rs 2.75, or 4.47%. It was trading with volumes of 616,085

  • Welspun Guj melts down 6.3%

    24th June, 2008 13:32

    At 1:23 pm, Welspun Gujarat Stahl Roh was quoting at Rs 313.80, down Rs 21.3, or 6.36%. It has touched an intraday high of Rs 343.90 and an intraday low of Rs 312.

  • Block deal in Tata Steel, stk down

    24th June, 2008 13:27

    At 1:17 pm, Tata Steel was quoting at Rs 735.40, down Rs 10.15, or 1.36%. There was a block deal of 21 lakh Tata Steel shares on BSE at Rs 752.40 per share, report

  • RBI cancels CoR of Maithri Financial Services

    24th June, 2008 13:25

    Reserve Bank cancels Certificate of Registration of Maithri Financial Services Limited. Following cancellation of the registration certificate, Maithri Financial S

  • Buy NIIT Tech, tgt Rs 183 : PINC

    24th June, 2008 13:21

    PINC has maintained buy rating on NIIT Technology with target price of Rs 183. NTL being able to compete effectively in its target markets and its commitment to e

  • Tata Group appoints Chetan Tolia as Director of TMTC

    24th June, 2008 13:17

    The Tata Group has appointed Mr. Chetan Tolia as Director of Tata Management Training Centre, the hub of knowledge and learning excellence of the Tata Group

  • NCDEX- Trade details for June 23, 2008

    24th June, 2008 12:58

    NCDEX, 465 members (1,410 users) participated in trading on June 23, 2008 up to 5:00 pm and volumes were Rs 1,836 crore (one-way). There were more than 46,130 tr

  • Bal Pharma Revenue grew by 18.6%

    24th June, 2008 12:50

    Bal Pharma business crosses Rs 90 crore in FY 07-08. Bal Pharma Revenue grew by 18.6%. Profit After Tax grew by 38%

  • CII President leads 9 member CEOs' Mission to US

    24th June, 2008 12:32

    CII delegation to focus on doubling Indian Investments into US

  • Stay with Satyam: VK Sharma 

    24th June, 2008 12:31

    VK Sharma of Anagram Stock Broking is of the view that one can stay with Satyam. The dollar appreciation should help the company and the earning growth rate that t

  • Hold Satyam, says Mohoni 

    24th June, 2008 12:26

    Technical Analyst, Deepak Mohoni is of the view that one can hold Satyam Computer Services. In the last one month or so it has not been falling with the market but

  • Orchid gets approval for Piperacillin Tazobactam injection

    24th June, 2008 12:25

    Orchid Chemicals & Pharmaceuticals Ltd announced that it has received approval from the Canadian TPD (Therapeutic Products Directorate) for its ANDS (Abbreviated N

  • Block deal in HDFC, stock up

    24th June, 2008 12:17

    At 12:08 pm, Housing Development Finance Corporation, HDFC was quoting at Rs 2,2630, up Rs 48.20, or 2.18%. It has touched an intraday high of Rs 2,275 and an intr

  • Dr Reddys Laboratories gains smartly

    24th June, 2008 12:05

    At 11:55 am, Dr Reddys Laboratories was quoting at Rs 667.80, up Rs 21, or 3.25%. It has touched an intraday high of Rs 670 and an intraday low of Rs 648.05. It w

  • Zandu Pharma hits 52-week high

    24th June, 2008 11:58

    Zandu Pharmaceuticals Works has touched a 52-week high of Rs 15,521.85. At 11:47 am, the share was quoting at Rs 15,070, up Rs 287.25, or 1.94%. The company promot

  • Sun Pharma's drug launch may get block in US; stock down

    24th June, 2008 11:36

    At 11:25 am, Sun Pharmaceutical Industries was quoting at Rs 1,391.25, down Rs 37.65, or 2.63%. It has touched an intraday high of Rs 1,450 and an intraday low of

  • Ranbaxy Laboratories in good health

    24th June, 2008 11:29

    At 11:20 am, Ranbaxy Laboratories was quoting at Rs 529, up Rs 15.55, or 3.03%. It has touched an intraday high of Rs 531.40 and an intraday low of Rs 515. It was

  • Above Rs 147, Sasken can move up further: Bose 

    24th June, 2008 11:25

    Technical Analyst, Rajat K Bose is of the views that above Rs 147, Sasken can moves up further.

  • Pyramid Saimira witnesses buying interest

    24th June, 2008 11:13

    At 11:04 am, Pyramid Saimira Theatre was quoting at Rs 238.05, up Rs 9.85, or 4.32%. It has touched an intraday high of Rs 243.55 and an intraday low of Rs 229. It

  • SBI, Bank of Baroda likely to bounce back: Bose 

    24th June, 2008 11:07

    Technical Analyst, Rajat K Bose is of the view that SBI is close to Rs 1,204, if it does not fall below Rs 1,195-1,190 range then it might bounce back. If Bank of

  • Maruti Suzuki top loser on the Sensex

    24th June, 2008 11:01

    Maruti Suzuki is the top loser on the Sensex. It has touched a 52-week low of Rs 663.15. At 10:51 am, the share was quoting at Rs 663.15, down Rs 25.15, or 3.65%.

  • Reliance Capital looks weak: Bose 

    24th June, 2008 10:51

    Technical Analyst, Rajat K Bose is of the view that Reliance Capital is looking weak. The support exists around Rs 850. On the way up if it were to cross Rs 1,000

  • Q1 earnings estimate not being scaled down: MOST 

    24th June, 2008 10:45

    Rajat Rajgarhia of Motilal Oswal said that their earnings estimate has not being scaled down. He sees some margin correction for the tech sector in the next few qu

  • Tata Comm top gainer on the Nifty

    24th June, 2008 10:39

    Tata Communications is the top gainer on the Nifty. At 10:35 am, the share was quoting at Rs 373.20, up Rs 15.75, or 4.41%. It was trading with volumes of 77,101 s

  • Buy Jindal Saw, target of Rs 1050: HDFC securities

    24th June, 2008 10:32

    HDFC securities has maintained its buy rating on Jindal Saw with a target price of Rs 1050. The stock currently trades at a P/E multiple of 8.5x CY08E and 6.2x CY0

  • Tata Power slips further

    24th June, 2008 10:23

    At 10:13 am, Tata Power Company was quoting at Rs 1,136.50, down Rs 56.1, or 4.7%. The company's FY08 consolidated net profit was at Rs 996.5 crore. Its consolidat

  • Avoid KSK Energy Ventures IPO: Hem

    24th June, 2008 10:17

    KSK Energy Ventures' issue has opened for subscription with its initial public offering (IPO) of 3,46,11,000 equity shares of face value Rs 10 each. Hem Securities

  • Tech Mahindra bags order, stk rises

    24th June, 2008 10:12

    At 10:08 am, Tech Mahindra was quoting at Rs 783, up Rs 20.20, or 2.65% on the NSE. The company has bagged USD 39 milion order from NZ based telecom co, reports CN

  • Subscribe to KSK Energy IPO with long term view: Keynote

    24th June, 2008 10:05

    KSK Energy Ventures' issue has opened for subscription with its initial public offering (IPO) of 34.61 million equity shares of face value Rs 10 each. Keynote Capi

  • Sasken makes smart gain

    24th June, 2008 10:02

    At 09:58 am, Sasken was quoting at Rs 144, up Rs 2.20, or 1.55% on the NSE. The new contracts for the stock will not be issued post June expiry. But July and Augus

  • Brokers bullish on Sintex Ind, L&T, Jindal Saw

    24th June, 2008 09:57

    Brokerage houses are bullish on Sintex Ind, L&T, Jindal Saw and Aban.

  • Fears of bad US cues still haunting mkts: Tyche Grp 

    24th June, 2008 09:52

    Martin Hennecke, Senior Manager, Tyche Group said, "It is not only the increase in the crude prices that has made the investors nervous. One basically saw the wors

  • Indian GDRs: RIL slips 4.2%, SBI down 4%

    24th June, 2008 09:49

    Indian GDRs: Reliance, SBI, L&T, Sterlite, Tata Comm, Ranbaxy, Dr Reddy's, Manindra, Grasim and ICICI Bank plunged, while Satym, ITC and Gail gained.

  • Expect markets to slide further: India Infoline

    24th June, 2008 09:48

    According to India Infoline Daily Market Watch, investors should not get lured by such bounce backs as we expect indices to slide further before expiry.

  • Buy ONGC, tgt Rs 1500 : Karvy

    24th June, 2008 09:38

    Karvy research has maintained buy rating on ONGC with target price of Rs 1500. During FY2008, the company recorded reserve accretion of 63.82 million tonnes of oil

  • Global cues favouring, Nifty may try pull back: Rajat Bose 

    24th June, 2008 09:35

    Rajat Bose of rajatkbose.com feels that unless the international cues are bad, the Nifty may attempt a pullback today. If the market holds to the 4180-4185 levels,

  • Nifty ends below 4200 for 1st time since Aug 2007

    24th June, 2008 09:34

    Markets witnessed sharp sell off for fifth consecutive trading session on the back of heavy selling from foreign investors, especially European investors. It seeme

  • Gokul Refoils FY08 cons net profit at Rs 133.6 cr

    24th June, 2008 09:19

    Gokul Refoils and Solvent has declared its FY08 consolidated results. The company's FY08 consolidated operating profit was at Rs 133.6 crore. Its FY08 consolidated

  • Nifty net futures down 5% in OI 

    24th June, 2008 09:18

    Futures Open Interest was down Rs 2323 crore ((day before yesterday, it was down by 1114 crore)). Nifty net futures down 5% in OI; shed 22.67 lakh in Open Interest

  • Central Bank Q4 net profit at Rs 127.2 cr

    24th June, 2008 09:15

    Central Bank of India has announced its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was at Rs 127.2 crore versus Rs 201 crore on QoQ

  • Price band for crude? 

    24th June, 2008 09:07

    At the Oil Consumers and Producers meet at Jeddah on Sunday, Finance Minister P Chidambram proposed a price band for international crude prices and urged oil produ

  • Rupee opens flat at Rs 42.97

    24th June, 2008 09:04

    The Indian Rupee opened at unchanged at Rs 42.97.

  • Support for Sensex at 14097: Gaba

    24th June, 2008 08:57

    The support for the Sensex is at 14097 and the resistance to the up move at 14650-15000-15540.

  • Sell MCX June Copper at Rs 364/kg

    24th June, 2008 08:53

    For copper, one could sell MCX June at Rs 364 per kilogram with a target of Rs 357 per kilogram, says Vakil.

  • YES Bank focusing on advisory services

    24th June, 2008 08:50

    YES Bank “is constantly on the look out to identify gaps in the market and develop them,” according to Mr Somak Ghosh, Group President (Corporate Finance & Develop

  • Somi Conveyor Beltings IPO opens for subscription

    24th June, 2008 08:48

    Somi Conveyor Beltings manufacturer of rubber conveyor belts of various sizes used for industrial applications of material handling in various industries, will ope

  • BHEL-GE consortium gets letter of award from ONGC

    24th June, 2008 08:44

    ONGC Tripura Power Company Ltd (OTPC) has placed a letter of award (LoA) on consortium of Bharat Heavy Electricals Ltd (BHEL) and General Electric (GE) for the gen

  • Kingfisher, Deccan to prune flights

    24th June, 2008 08:42

    Kingfisher Airlines and Simplifly Deccan, part of the UB Group, have slashed over 10 per cent of their total daily flights while Deccan’s 47 expat engineers are be

  • Crude prices rise on geopolitical concerns

    24th June, 2008 08:36

    Crude prices rose as Nigerian supply disruptions and escalating tensions between Israel and Iran failed to quell supply concerns despite Saudi Arabia’s pledge to r

  • Stocks in news: Jet Airways, Hind Rectifiers, Gail

    24th June, 2008 08:32

    Stocks in news: Jet Airways has results today. Hind Rectifiers has board meet on bonus issue. Gail board has approved 1:2 bonus issue.

  • Market cues: FIIs net sell $236.1 mn

    24th June, 2008 08:24

    Market cues: FIIs net sell $236.1 mn in equity.

  • US markets end flat

    24th June, 2008 08:13

    US markets retreated, sending financial shares to their lowest level in five years, on a deteriorating outlook for bank earnings. The Dow Jones industrial average

  • MF NAVs end on weak note as mkts plunge

    24th June, 2008 00:22

    Equity diversified NAVs ended first day of week on a weak note with negative advance:decline ratio of 200 as the markets remained under black clouds; Sensex, Nifty

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