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Moneycontrol News Archive : 26 June, 2008

  • Delhi govt goes green, gives sops to Reva 

    26th June, 2008 21:23

    India's first electric car- Reva- has found favour with the Delhi government. In a move to promote green vehicles, the government will give a 15% subsidy on the ba

  • BJP declares first list of Lok Sabha candidates

    26th June, 2008 20:30

    Sounding the poll bugle, the Bharatiya Janata Party (BJP) on Thursday took everyone by surprise by announcing its first list of candidates for the next Lok Sabha e

  • RBI prohibits Fortis Fin from carrying on NBFC activities

    26th June, 2008 20:16

    The Reserve Bank of India, or RBI, has prohibited Fortis Financial Services, a listed non-banking financial institution, from carrying on its activities, reports C

  • US jobless claims stay unchanged at 3.84L

    26th June, 2008 20:14

    US jobless claims remain unchanged at 3.84 lakh for the week-ended June 21, reports CNBC-TV18. A survey predicted a fall of 6,000.

  • Nitin Fire cons sales up by 31.71% at Rs 132.42cr

    26th June, 2008 19:24

    Nitin Fire FY08 consolidated sales up by 31.71 % at Rs 132.42cr. Net Profit rises 94.34% to Rs. 19.41 Cr.

  • Canara Bank inaugurates its 1st biometric ATM

    26th June, 2008 18:59

    Canara Bank, a leading nationalized bank in the country on Thursday inaugurated its first biometric ATM in Maharashtra at Dharavi, Mumbai and 10th biometric ATM in

  • Long-term invt should cherry-pick now: India Infoline 

    26th June, 2008 18:45

    Nirmal Jain, CMD, India Infoline, doesn't rule out a bounceback in the short-term. "Markets won't fall much beyond these levels. The Nifty would hover in a broad r

  • Global Vectra post gross revenue to Rs 179.54cr,up by 20%

    26th June, 2008 18:32

    Global Vectra Helicorp Ltd., India’s leading provider of helicopter services to the country’s Oil and Gas sector, has posted an increase in Revenue for the year en

  • Experian achieves CIFAS ‘Superior’ rating for the 5th Year

    26th June, 2008 18:13

    Experian, the global information services company, announced that it has become the first Credit Reference Agency to be awarded five consecutive superior Annual Re

  • India Infoline wins ‘Best Broker’ in India by FinanceAsia

    26th June, 2008 17:54

    India Infoline has been awarded the ‘Best Broker in India’ by Finance Asia. This was a result of FinanceAsia’s annual look at the best financial services firms in

  • NASSCOM announces 5th Annual HR Summit

    26th June, 2008 17:45

    NASSCOM, the premier trade body and ‘voice’ of the Indian IT-BPO industry, today announced its 5th annual HR Summit to be held in Chennai on July 3-4 2008.

  • Religare Enter FY08 profit at Rs 91.7 cr 

    26th June, 2008 17:35

    Religare Enterprises has announced its fourth quarter and FY08 numbers. For FY08, it has reported net profit of Rs 91.7 crore versus Rs 24.87 crore on total income

  • KeyCorp selects Cognizant as Technology Vendor of the Yr

    26th June, 2008 17:30

    Cognizant, a leading provider of global consulting, technology and business process services, announced that KeyCorp, one of the largest bank-based financial servi

  • Religare Enterprises Q4 net profit at Rs 21.92 cr

    26th June, 2008 17:16

    Religare Enterprises has announced its fourth quarter and FY08 numbers. It has posted Q4 net profit of Rs 21.92 crore and total income of Rs 300.52 crore.

  • Tata Steel may consolidate mineral biz to raise capital  

    26th June, 2008 16:59

    Tata Steel said that it could restructure some of its subsidiaries so that its mineral assets are all pooled into one company. It said the move will unlock value.

  • Essar withdraws $1.2 bn bid for Esmark

    26th June, 2008 16:55

    Essar Steel has withdrawn its USD 1.2-billion bid for US-based steel company Esmark. The move comes after Russian company Severstal bid significantly higher - offe

  • Wipro Babysoft launches Wipro BabySoft Dry Care diapers

    26th June, 2008 16:46

    Wipro Babysoft has rolled out a new variant to its popular cloth feel diapers. Called Wipro BabySoft "Dry Care" diapers, these diapers have been launched keeping i

  • Blue Dart set for price revision

    26th June, 2008 16:31

    Blue Dart Express Limited, South Asia’s No. 1 integrated Air Express, Courier and Logistics Company has decided to revise prices in its air and ground services, ow

  • Deutsche Bank appoints Amrit Singh as Head of M&A India

    26th June, 2008 16:14

    Deutsche Bank announced the appointment of Amrit Singh as Head of Merger & Acquisitions India in its subsidiary Deutsche Equities India Private Limited effective i

  • Nokia outlines initiatives for rural markets

    26th June, 2008 16:01

    Nokia, the world leader in mobile communications, today reiterated that rural markets will be a focus area for its growth in India. The global leader in mobile com

  • Tata Steel FY08 cons net profit up at Rs 12349.8 cr

    26th June, 2008 15:49

    Tata Steel has announced its consolidated FY08 results. The company's consolidated net profit was up at Rs 12349.8 crore versus Rs 4165.6 crore.

  • M&M's FirstChoice Wheels plans chain of 300 outlets

    26th June, 2008 15:37

    Mahindra’s FirstChoice Wheels plans chain of 300 outlets Pan-India. The new After–Market Sector, which was launched recently, is thus looking at augmenting the pre

  • June a dreadful series for markets; Nifty ends above 4300 

    26th June, 2008 15:33

    It was a dreadful series (June series).. Let us see what will happen in July, earning season; we will have the monetary policy announcement also. Hopefully there w

  • IPS appoints Lawrence Wee as President, APAC region

    26th June, 2008 15:21

    Invensys Process Systems , a global technology, software and consulting firm, announced that it has appointed Lawrence Wee as President of the company’s Asia Pacif

  • HDFC among major gainers

    26th June, 2008 15:16

    HDFC is among major gainers on the Sensex. At 3:07 pm, the share was quoting at Rs 2,245.85, up Rs 76.95, or 3.55%. It has touched an intraday high of Rs 2,268 and

  • Fert policy removes distortions, mkt driven: RCF  

    26th June, 2008 15:13

    US Jha, CMD, Rashtriya Chemical Fertilisers, has welcomed the government's new fertiliser policy. "There was uncertainty as there was no policy. Three months have

  • See stable prices despite oilseed acreage rising: Agro Tech 

    26th June, 2008 15:11

    Utpal Sengupta, President, Agro Tech Foods, said oil prices will remain stable despite oilseed acreage rising. "It will probably remain at that level for sometime

  • Buy RIL; target of Rs 3200: Eastern Financiers

    26th June, 2008 15:08

    Eastern Financiers is bullish on Reliance Industries and has recommended buy rating on the stocks with a target of Rs 3200, in its June 20, 2008.

  • Jain Irrigation bounces back

    26th June, 2008 15:04

    At 2:55 pm, Jain Irrigation Systems was quoting at Rs 484, up Rs 34.05, or 7.57%. It has touched an intraday high of Rs 488 and an intraday low of Rs 450.10. It wa

  • IT Solutions needed to battle Crisis: Giovanni Bisignani

    26th June, 2008 14:58

    IT Solutions Needed to Battle Crisis: Giovanni Bisignani, Director General and CEO of the International Air Transport Association (IATA).

  • New fert policy recognises global mkt realities: Coromandel 

    26th June, 2008 14:56

    Vellayan, the Chairman of Coromandel Fertilisers said it is a very realistic policy, and it recognizes market realities world over. The long-term view will change

  • InterGen buy to power GMR ahead 

    26th June, 2008 14:56

    GMR picked up 50% stake in US-based Intergen for USD 1.1 billion. Madhu Terdal, Executive Vice President of International Business Development at GMR Infrastructur

  • S&P,CRISIL: Inflation over 8.5% could slow India's GDP gwth

    26th June, 2008 14:49

    S&P, CRISIL: Inflation over 8.5% could slow India's GDP growth to 7.8% in 2008-09. Higher interest rates are expected to moderate growth even further.

  • Tata Chemicals flares up

    26th June, 2008 14:46

    At 2:37 pm, Tata Chemicals was quoting at Rs 311.55, up Rs 14.15, or 4.76%. It has touched an intraday high of Rs 317 and an intraday low of Rs 296.

  • Sanofi-aventis becomes major partner in biotechnology field

    26th June, 2008 14:40

    Sanofi-aventis becomes a major partner in the biotechnology field in year leading to BIO 2008

  • Tulip Telecom FY08 net profit up at Rs 187 cr

    26th June, 2008 14:33

    Tulip Telecom has announced its FY08 results. The company's FY08 net profit was up at Rs 187 crore versus Rs 99 crore.

  • Buy Idea Cellular: Angel Broking

    26th June, 2008 14:32

    Angel Broking has maintained its buy rating on Idea Cellular. Angel views the deal as a long-term positive, even though a short-term negative impact cannot be rule

  • RSA expands Identity Assurance Portfolio

    26th June, 2008 14:30

    RSA, The Security Division of EMC, expands Identity Assurance Portfolio with Flexible Card-Shaped Authenticator to provide convenient online security

  • Wipro among major gainers

    26th June, 2008 14:23

    Wipro is among major gainers on the Sensex. At 2:14 pm the share was quoting at Rs 474, up Rs 17.50, or 3.83%. It has touched an intraday high of Rs 477.80 and an

  • ESPLL's total income up by 33% to Rs 2237.13cr

    26th June, 2008 14:15

    Essar Shipping Ports & Logistics Limited registers a 33% growth in its total income and 107% growth in EBITDA on a consolidated basis. The EBITDA for the company r

  • Edelweiss an outperformer: Prabhudas Lilladher

    26th June, 2008 14:12

    Prabhudas Lilladher has maintained outperformer rating on Edelweiss with target price of Rs 820. With just 26.0% of its revenue in FY08 coming from broking (going

  • Buy Rajesh Export, tgt Rs 147: Prabhudas Lilladher

    26th June, 2008 14:00

    Prabhudas Lilladher has buy rating on Rajesh Exports with target price of Rs 147. At the CMP of Rs 82, the stock trades at 8.9x FY09E and 6.2x FY10E earnings

  • Govt approves new potash, phosphate price policy 

    26th June, 2008 13:53

    Govt has approved the new Potash and Phosphate price policy in the new fertiliser policy. The new fertiliser policy will fix base rate for 17 items and will now be

  • HCL Infosystems to connect India-Africa

    26th June, 2008 13:40

    HCL Infosystems Ltd, India's premier information enabler, leading ICT system integrator and Distribution Company will implement the IT infrastructure part of the P

  • Sri Lanka Telecom selects Utstarcom to launch IPTV soln

    26th June, 2008 13:30

    UTStarcom, Inc. announced a multi-million dollar contract with Just In Time Holdings Pvt Ltd. to supply its industry-leading RollingStream® end-to-end Internet Pro

  • IBN18 Broadcast puts on a good show

    26th June, 2008 13:19

    At 1:10 pm, IBN18 Broadcast was quoting at Rs 90.05, up Rs 4.50, or 5.26%. It has touched an intraday high of Rs 90.35 and an intraday low of Rs 85. It was trading

  • Learning made more affordable & simple with Nova PC

    26th June, 2008 13:11

    Novatium Solutions, the leading provider of rich computing as a service, jointly with Classteacher.com, the leading provider of technology based solutions for effe

  • Exit Idea Cellular at Rs 110-112: Mathew 

    26th June, 2008 13:07

    Technical Analyst, E Mathew is of the view that one can exit Idea Cellular at Rs 110-112 and look at better options or possibly even trade in the stock and maybe t

  • Usha Martin up on buying interest

    26th June, 2008 13:00

    At 12:55 pm, Usha Martin was quoting at Rs 75.70, up Rs 5.85, or 8.38%. It has touched an intraday high of Rs 76.50 and an intraday low of Rs 70.05. It was trading

  • Patel Engg cons net profit up 34.41% at Rs 151.90cr

    26th June, 2008 12:50

    Patel Engineering Ltd., a civil infrastructure construction company, today reported a 34.41% rise in consolidated net profit at Rs 151.90 crore for the financial y

  • Emkay downgrades earning estimates of banks

    26th June, 2008 12:45

    According to Emkay Research's Banking Sector report, We have downgraded our earnings estimates and book value estimates for the banks under our coverage by 2-9% an

  • Idea-TMI to buy Spice Grp stake in Spice Comm

    26th June, 2008 12:37

    Idea Cellular Limited announced that it will be acquiring the Spice Group stake of 40.8% in Spice Communications Limited at a price of Rs 77.30 per share. It will

  • Reliance top gainer on the Sensex

    26th June, 2008 12:30

    Reliance Industries is the top gainer on the Sensex. At 12:22 pm, the share was quoting at Rs 2,195.20, up Rs 59.85, or 2.80%. It was trading with volumes of 955,5

  • Triveni Engineering declines 4%

    26th June, 2008 12:26

    At 12:18 pm, Triveni Engineering was quoting at Rs 79.15, down Rs 3.4, or 4.12%. It has touched an intraday high of Rs 84 and an intraday low of Rs 78.60. It was t

  • Brandhouse Retail Ltd to be listed in 3 weeks: SKNL 

    26th June, 2008 12:20

    Nitin Kasliwal, MD, S Kumars said that Reid & Taylor had contributed to 45% of the FY08 consolidated EBITDA of S Kumars Nationwide. Kasliwal added that he plans t

  • Buy Exide Industries, target of Rs 88: Emkay

    26th June, 2008 12:17

    Emkay Research has maintained its buy rating on Exide Industries with a target price of Rs 88. Emkay has valued Exide Industries on sum of the parts basis.

  • Star TV looking to exit Balaji Telefilms: Sources 

    26th June, 2008 12:09

    CNBC-TV18 has learnt that Star TV is looking to exit Balaji Telefilms and may sell its stake to a Malaysian company. Sources said Star is looking to exit Balaji Te

  • Block deal in Hexaware Tech, stock up

    26th June, 2008 11:58

    At 11:49 am, Hexaware Technologies was quoting at Rs 56.50, up Rs 2.95, or 5.51%. It has touched an intraday high of Rs 59 and an intraday low of Rs 54. There was

  • Federal Bank shoots up smartly

    26th June, 2008 11:49

    At 11:41 am, Federal Bank was quoting at Rs 192.90, up Rs 12.75, or 7.08%. It has touched an intraday high of Rs 199.65 and an intraday low of Rs 185. It was tradi

  • UCO Bank gets FM nod for FPO issue

    26th June, 2008 11:43

    UCO Bank has received approval from Finance Minister for follow on public issue, FPO. The bank is planning to raise around Rs 300-400 crore by October-December, re

  • Tata Comm top gainer on Nifty

    26th June, 2008 11:39

    Tata Communications is top gainer on the Nifty. At 11:34 am, the share was quoting at Rs 373.50, up Rs 12.85, or 3.56%. It has touched an intraday high of Rs 378 a

  • Buy Godawari Power, target of Rs 418: Emkay

    26th June, 2008 11:24

    Emkay Research has maintained its buy rating on Godawari Power & Ispat with a target price of Rs 418. Emkay has valued GPIL under 2 scenarios.

  • UTI-Opportunities Fund declares 18% dividend

    26th June, 2008 11:14

    UTI-Opportunities Fund declares dividend of 18%, for which the record date is July 1, 2008.

  • Nifty has resistance at 4389: India Capital Markets

    26th June, 2008 11:12

    According to India Capital Markets Technical Analysis report, for Short term, Nifty has a support at 4112 and 4004 and faces resistance at 4281 and 4389.

  • Reliance a good trading bet: N Pillai

    26th June, 2008 11:07

    Neppolian Pillai of Modern Shares & Stock Brokers feels that Reliance Industries is a good trading bet. One can take Rs 100-150 out of it, but not at investment at

  • Gujarat NRE Coke looks strong: N Pillai

    26th June, 2008 11:01

    Neppolian Pillai of Modern Shares & Stock Brokers is of the view that Gujarat NRE Coke is looking strong. It has been falling off from the Rs 168 levels. The pullb

  • See CY08 inflation at 10%: Lehman Bros 

    26th June, 2008 10:48

    Rob Subbaraman of Lehman Brothers expects the ECB to raise rates in July. Inflation hasn't peaked out yet, he feels. He expects inflation to remain higher in India

  • Block deal in GVK Power, stk gains

    26th June, 2008 10:48

    At 10:39 am, GVK Power was quoting at Rs 38.85, up Rs 0.55, or 1.44%. There was a block deal of 50 lakh GVK Power & Infra shares on BSE at Rs 39 per share, reports

  • Reliance Comm can test Rs 552: N Pillai

    26th June, 2008 10:40

    Neppolian Pillai of Modern Shares & Stock Brokers is of the view that above Rs 527, Reliance Communications can test Rs 552. It has recovered from a bottom of abou

  • R Anand underweight on real estate, banking

    26th June, 2008 10:34

    Rajiv Anand, Head Investments at IDFC Mutual Fund is underweight on real estate, banking space.

  • UCO Bank minting money

    26th June, 2008 10:27

    At 10:19 am, UCO Bank was quoting at Rs 36.25, up Rs 1.65, or 4.77%. It has touched an intraday high of Rs 36.80 and an intraday low of Rs 35.25. It was trading w

  • US mkts end with modest gain 

    26th June, 2008 10:20

    When the Fed speaks, markets listen but stocks didn’t react much on Wednesday to the decision to keep the Federal Reserve Funds rate at 2%. The Dow Jones industria

  • Block deal in Amtek Auto, stk gains 4.4%

    26th June, 2008 10:15

    At 10:07 am, Amtek Auto was quoting at Rs 261.25, up Rs 11.00, or 4.40%. There was a block deal of 20 lakh Amtek Auto shares on NSE at Rs 249 per share, reports CN

  • Lakshmi Vilas Bk approves QIP issue, stk rises 4.4%

    26th June, 2008 10:09

    At 10:04 am, Lakshmi Vilas Bank was quoting at Rs 84.90, up Rs 3.60, or 4.43% on the NSE. The company board has approved QIP issue of up to Rs 250 crore, reports C

  • Nagarjuna Fert continues to gain

    26th June, 2008 10:00

    Nagarjuna Fertilisers has continued to gain. At 09:59 am, the share was quoting at Rs 40.25, up Rs 1.75, or 4.55% on the NSE. It has touched an intraday high of Rs

  • Nifty may rally upto 4314–4375: Angel

    26th June, 2008 09:57

    According to Angel Broking Market Outlook report, if Nifty trades above 4203 during the first half-an-hour of trade then we may witness a further rally upto 4314–4

  • Nifty has resistance at 4325: Anagram

    26th June, 2008 09:49

    According to Anagram Research Daily Call, bulk of the action which usually happens on the settlement day, seem to have taken place yesterday. A 38% retracement of

  • Buy SpiceJet, target Rs 50: Karvy

    26th June, 2008 09:23

    Karvy Stock Broking has maintained its buy rating on SpiceJet with a revised target price of Rs 50. Karvy expects the company to report net loss of Rs 805 million

  • Are fund managers rigging NAVs?

    26th June, 2008 09:21

    Market regulator Sebi wants to find out whether fund managers of floating rate schemes have manipulated net asset values or NAVs. Industry body AMFI is also probin

  • Sun Pharma files case against Taro in NY Supreme Court 

    26th June, 2008 09:11

    Sun Pharma has exercised option to acquire controlling share of Taro Pharma. It has filed action in the Supreme Court of New York against Taro Pharma and its Direc

  • Crude prices fall more than $2/bbl

    26th June, 2008 09:07

    Crude prices fell more than 2 dollars as US inventories rose for the first time in six weeks because record fuel prices cut demand. In after hours access trading,

  • Allied Blenders plans for IPO

    26th June, 2008 09:00

    Putting its history of litigation behind it, the Kishore Chabbria promoted Allied Blenders and Distillers is planning an IPO along with an image makeover for itsel

  • Optimism back in mkts

    26th June, 2008 08:57

    Today's trade may not end on a terrible note after a turbulent week. It is difficult to take a call on the last hour of the trade. There is an attempt to move up a

  • HTMT Global to buy BPO co in Europe

    26th June, 2008 08:52

    Mr Sarkar, CEO of HTMT Global Solutions, part of the Hinduja Group and an outsourcing solutions provider, is keen to make an acquisition in the current environment

  • Volkswagen to use Indian vendors for global small car

    26th June, 2008 08:49

    Volkswagen, one of the recent entrants in the race to make compact cars in the country, plans to take advantage of the competence of its Indian small car vendors f

  • Equity calls: Mutha, Khade 

    26th June, 2008 08:42

    Short rollovers in Nifty has been seen. Power Grid and NTPC may see some buying in the last half hour on account of VWAP trades. Shortcovering may be seen in Axis

  • F&O cues: Marketwide rollover at 62.5%

    26th June, 2008 08:34

    F&O cues: Nifty net Futures up 5.5% in Open Interest; add 24.6 lakh shares in Open Int. Marketwide rollover at 62.5% Vs 43.1% a day ago.

  • Nifty likely to witness range of 4360-4150

    26th June, 2008 08:26

    The coming session is likely to witness a range of 4360 on advances and 4150 on declines. As long as the Nifty spot remains above the 4200 levels, expect the bulli

  • Market cues: FIIs net buy $ 68 mn

    26th June, 2008 08:22

    Market cues: FIIs net buy $ 68 mn in equity.

  • Wall St ends with moderate gain; Dow up 4 pts

    26th June, 2008 08:14

    The US markets ended on a positive note after some volatile action following the Fed's decision to interest rates unchanged. A drop in oil prices and modestly enco

  • MF NAVs end strong as markets gain

    26th June, 2008 01:56

    Equity diversified NAVs have bounced back with positive advance:decline ratio of 175:19, following smart pull back rally in the markets on strong volumes ahead of

  • Vodafone not liable to deduct tax at source: Counsel 

    26th June, 2008 20:34

    The Bombay High Court continued hearing the Vodafone counsel's arguments in the Vodafone tax case today. The Vodafone Counsel argued that the Income Tax Act is app

  • SBI expects more tightening before next Monetary Policy 

    26th June, 2008 20:20

    OP Bhatt, Chairman, State Bank of India, said more Reserve Bank of India, or RBI, measures are likely between now and the next Monetary Policy. "We may see some fr

  • Who is the highest paid actress in Hollywood? 

    26th June, 2008 20:16

    Their recent releases might not have been blockbusters but the likes of Reese Witherspoon, Angelina Jolie and Cameron Diaz are a few of the highest paid actresses

  • Four Soft gets bullish in global market

    26th June, 2008 19:34

    Four Soft Limited, a global leader providing software solutions for transportation and logistics verticals, has secured 13 clients in the last six months. The rece

  • JK Paper posts net profit at Rs 34.71cr

    26th June, 2008 19:15

    JK Paper Limited posts gross sales for the 9 months ending 31st March, 2008 was Rs 749 crore, an increase of 7.1% on an annualised basis. Profit before interest,

  • Marathon Group launches IT SEZ worth Rs 1800cr

    26th June, 2008 18:50

    The USD 2 billion (Rs. 8400 crore) Marathon Group, known for its low-cost land acquisition realty development model and for introducing advanced construction metho

  • DAMAC Properties invests in South-East Asia

    26th June, 2008 18:40

    DAMAC Properties invests in South-East Asia

  • LANXESS makes 1st acquisition in China

    26th June, 2008 18:22

    With its first acquisition in China, specialty chemicals company LANXESS AG is expanding the Asian business of its Inorganic Pigments business unit. In Jinshan nea

  • TCS receives Innovation Award from Ferrari

    26th June, 2008 18:04

    Tata Consultancy Services, the leading IT services, business solutions and outsourcing firm announced that it received the Innovation Award from Ferrari for its ab

  • Rupee, bonds end higher

    26th June, 2008 17:53

    The spot rupee ended higher at Rs 42.68 per USD as against its previous close of Rs 42.73. The widely traded 8.24%, 2018 paper closed higher at Rs 97.59 as against

  • Don't expect mkts to pullback sharply: Kotak Sec 

    26th June, 2008 17:41

    R Venkat Subramanian, Head-Alternate Investment Group, Kotak Securities, said to expect any sharp pullback in the market would be unreasonable as corporate sector

  • Stocks to watch: NIIT 

    26th June, 2008 17:33

    Harit Shah of Angel Broking is positive on NIIT. He said that NIIT is the largest IT training company in the country they have grown at a very rapid rate along wit

  • Sundaram BNP Paribas, J&K Bk to form distribution alliance

    26th June, 2008 17:20

    Sundaram BNP Paribas Mutual and The Jammu & Kashmir Bank join hands to form a strategic distribution alliance

  • Exensys opens its 2nd R&D Centre at Hyderabad

    26th June, 2008 17:02

    Exensys Software Solutions Limited, one of the leading Indian software product company in the Enterprise Space, IT Consulting and Telecom Solutions, inaugurated it

  • DSP Merrill Lynch launches 12 month FMP

    26th June, 2008 16:59

    DSP Merrill Lynch Fund Managers Ltd launches 12 month FMP - DSP Merrill Lynch FMP - 12 M - Series 1. The New Fund Offer period closes on June 30, 2008.

  • Tulip Telecom reports net profit of ­­­Rs 187.1cr, up 88%

    26th June, 2008 16:54

    Tulip Telecom reports net profit of ­­­Rs. 187.1 Crores for FY 2007-08, up 88% over last year

  • June series is down 11%, the second worst in this yr 

    26th June, 2008 16:43

    The series is down 11%, which is slightly better than what we saw in January but the second worst in this year, so down about 11%, down 28% on the BSE realty index

  • Intellicon's Vega X7 from Aethra is available in India

    26th June, 2008 16:30

    Intellicon launches Vega X7 High Definition Video Conferencing System from Aethra, Italy. Intellicon's Vega X7 from Aethra, Italy is now available in India and is

  • SBI, Union Bk hikes PLR by 50 bps 

    26th June, 2008 16:14

    The big news is that State Bank of India (SBI) has raised its Primary Lending Rates (PLR) by 50 bps to 12.75%. Ashok Mukund, CFO of SBI said, "All our loans, which

  • Bisleri: Fight for the 'Himalayas'

    26th June, 2008 15:50

    Bisleri International would like to clarify its stand to the members of the press and the public at large against the charges levelled by Tata's Mount Everest Mine

  • Progress Software supports series of Eclipse DemoCamp

    26th June, 2008 15:47

    Progress Software actively supporting worldwide series of Eclipse DemoCamp. The new features of Eclipse Ganymede Version 3.4 release will be highlighted in additio

  • Excelcomindo expands with Comverse SMSC

    26th June, 2008 15:35

    Excelcomindo expands capabilities with Comverse SMSC to handle growing SMS Text Messaging Service in Indonesia

  • Buy Plethico Pharma, target of Rs 475: SPA Securities

    26th June, 2008 15:30

    SPA Securities has recommended a buy rating on Plethico Pharmaceuticals with a 12-month target price of Rs 475. At the CMP of Rs 381.80, the stock is available at

  • Buy Electro Steel Casting: Angel Broking

    26th June, 2008 15:20

    Angel Broking has maintained buy rating on Electro Steel Casting with target price of Rs 55. At the CMP of Rs 34, ECL is trading at a P/BV of 0.7x FY2010E

  • Bafna Pharmaceuticals to list on June 27

    26th June, 2008 15:16

    Bafna Pharmaceuticals will list on the bourses with its public issue of 64,00,000 equity shares of Rs 10 each on June 27, 2008. The issue price was Rs 40 per equit

  • South Indian Bank recovers sharply

    26th June, 2008 15:12

    At 3:03 pm, South Indian Bank was quoting at Rs 107.75, up Rs 6.15, or 6.05%. It has touched an intraday high of Rs 109.35 and an intraday low of Rs 102. It was tr

  • Infosys BPO, i-mint to launch employee rewards program

    26th June, 2008 15:10

    Infosys BPO, the business process outsourcing subsidiary of Infosys Technologies and i-mint, India’s first multi partner consumer rewards program have partnered to

  • Adhunik Metaliks up on large volume

    26th June, 2008 15:07

    At 2:59 pm, Adhunik Metaliks was quoting at Rs 128, up Rs 13.60, or 11.89%. It has touched an intraday high of Rs 130 and an intraday low of Rs 116. It was trading

  • Are we staring at 12% inflation? 

    26th June, 2008 15:01

    Nitin Jain, Managing Director, I-Sec Primary Dealership feels that the trend in the manufacturing inflation prices is up and till that break comes decisively the b

  • Wire and Wireless touches 52-week low

    26th June, 2008 14:58

    Wire & Wireless has touched a 52-week low of Rs 23.15. At 2:50 pm, the share was quoting at Rs 23.60, down Rs 1.7, or 6.72%. It was trading with volumes of 1,286,0

  • Idea-Spice deal to expand national footprint

    26th June, 2008 14:56

    IndiaInfoline Research has come out with confernce call note on acquisition of Spice Communications by Idea Cellular.

  • Reliance Comm slips on profit booking

    26th June, 2008 14:53

    At 2:49 pm, Reliance Communications was quoting at Rs 491.40, down Rs 17.3, or 3.4%. It has touched an intraday high of Rs 522 and an intraday low of Rs 490.10. It

  • NIIT has target of Rs 123: H Shah 

    26th June, 2008 14:49

    Harit Shah of Angel Stock Broking is of the view that NIIT has target of Rs 123. It is the largest IT training company in the country. They have grown at a very ra

  • Concrete gain for Ambuja Cements

    26th June, 2008 14:43

    At 2:37 pm, Ambuja Cements was quoting at Rs 85.10, up Rs 2.60, or 3.15%. It has touched an intraday high of Rs 86.25 and an intraday low of Rs 81.25. It was tradi

  • Fertilisers stocks boost up by new Fertilisers policy

    26th June, 2008 14:35

    Government has okayeds new Potash, Phosphate price policy. New fertilisers Policy to fix base rate for 17 Items. At 2:25 pm, Coromandel Fertilisers was quoting at

  • Reliance Ind is stock has been very strong since morning 

    26th June, 2008 14:32

    One stock which will catch most of our eye will be Reliance Industries and this stock has been very strong since morning and has seen some long positions being add

  • Irani negative on PSU banking space 

    26th June, 2008 14:32

    Mehraboon Irani, Centrum Broking is negative on PSU banking space.

  • Markets volatile; rate sensitives struggle, RIL strong 

    26th June, 2008 14:28

    it has been a bit volatile today; not entirely unexpected given today is the last day of the June series but even so, it is a bit disappointing that the market has

  • TV Today an outperformer : Prabhudas Lilladher

    26th June, 2008 14:20

    Prabhudas Lilladher report has maintained outperformer rating on TV Today with target price of Rs 140. The scrip appears attractive at valuations of 10.7x FY09 and

  • Start buying; don't panic or withdraw: Kotak Sec 

    26th June, 2008 14:14

    Kunj Bansal, Senior Vice President-Portfolio Managment Services, Kotak Securities, expects the markets to consolidate in the short-term. According to Bansal, thes

  • Buy Divis Labs, target of Rs 1833: Religare

    26th June, 2008 14:00

    Religare Research has maintained its buy rating on Divis Laboratories with a target price of Rs 1833. Religare believes that Divi's is amongst the best players in

  • Hold Idea Cellular, says Irani 

    26th June, 2008 13:57

    Mehraboon Irani, Centrum Broking is of the view that one can hold Idea Cellular. The deal with Spice is a pleasant surprise to Idea share holders also. I personall

  • KEI Ind an outperformer: Prabhudas Lilladher

    26th June, 2008 13:53

    Pranhudas Lilladher has maintaied outperformer rating on KEI Industries with target price of Rs 65. At 5.8x FY09E and 3.8x FY10E earnings, risk-reward is favourabl

  • Expect Fed to tighten rates further: BNP Paribas 

    26th June, 2008 13:37

    Sharada Selvanathan, Currency Strategist, BNP Paribas said the Fed has spoken quite hawkishly over the last 2-3 weeks. “It is a matter of time that the Fed is goin

  • SBI move will severely affect farm productivity, gwth:TMA

    26th June, 2008 13:21

    SBI move will severely affect Farm Productivity & Growth: TMA. State Bank of India has issued a circular stopping all loans for tractors and farm machinery with im

  • HCL Technologies gains smartly

    26th June, 2008 13:13

    At 1:05 pm, HCL Technologies was quoting at Rs 273.15, up Rs 11.45, or 4.38%. It has touched an intraday high of Rs 275 and an intraday low of Rs 259.60. It was tr

  • Prajay Engineers marches ahead

    26th June, 2008 13:09

    At 1 pm, Prajay Engineers Syndicate was quoting at Rs 119, up Rs 7.85, or 7.06%. It has touched an intraday high of Rs 124 and an intraday low of Rs 112. It was tr

  • Sun Microsystems, Amity to provide renowned curriculum

    26th June, 2008 13:01

    Sun Microsystems India announced that it has entered into a partnership with Amity, the largest private university in India, to offer globally renowned curriculum

  • Bank of India can test Rs 275-280: Mathew

    26th June, 2008 12:54

    Technical Analyst, E Mathew is of the view that Bank of India can test Rs 275-280. It is one of the smaller banks amongst the PSU lot as compared to a giant like S

  • Beat the Street: Tips from Michael Steinhardt 

    26th June, 2008 12:49

    Michael H Steinhardt, Managing Member, Steinhardt Management, has one of the greatest investing records in Wall Street. A USD 1,000 invested with him in 1967 becam

  • D6 production to start in Q3 CY08: Niko Resources

    26th June, 2008 12:42

    The management of Niko Resources has said that the D6 oil and natural gas production is expected to commence in Q3CY08. R1 exploration well in D6 adds 2.2 trillion

  • Star TV to sell in Balaji Tele, stocks up 8.5%

    26th June, 2008 12:37

    At 12:27 pm, Balaji Telefilms was quoting at Rs 215, up Rs 16.95, or 8.56%. It has touched an intraday high of Rs 216.30 and an intraday low of Rs 197. According t

  • Essar commissions steel service centre in Indonesia

    26th June, 2008 12:28

    The Essar Group’s steel plant in Indonesia, PT Essar Indonesia, has commissioned its most advanced service centre in the firm’s cold rolling complex near Jakarta.

  • Petronet LNG up on buying interest

    26th June, 2008 12:20

    At 12:16 pm, Petronet LNG was quoting at Rs 60.75, up Rs 2.70, or 4.65%. It was trading with volumes of 2,793,933 shares, compared to its five-day average of 1,087

  • Sun Ph to buy shares from Taro's controlling shareholders

    26th June, 2008 12:18

    Sun Pharmaceutical Exercises its Options to Acquire the Shares of the Controlling Shareholders of Taro Pharmaceuticals

  • Bharti Airtel top loser on Nifty

    26th June, 2008 12:11

    Bharti Airtel is top loser on the Nifty. At 12:07 pm, the share was quoting at Rs 755.50, down Rs 24.4, or 3.13%. It has touched an intraday high of Rs 787 and an

  • IndusInd Bank FY08 Operating Profit up 14.34%

    26th June, 2008 12:09

    IndusInd Bank FY08 Operating Profit up 14.34%. Gross Income was at Rs 591.04 crore as compared to Rs 483.34 crore. Net Interest Income (NII) was at Rs 96.90 crore

  • MARG PAT up 125%

    26th June, 2008 11:57

    MARG declared total income of Rs. 27,840 Lakhs for the year ended March 31, 2008, an increase of 97% as compared to Rs. 14,153 Lakhs earned in 2006-2007. The compa

  • Bajaj Auto turns down

    26th June, 2008 11:45

    At 11:37 am, Bajaj Auto was quoting at Rs 474, down Rs 21.4, or 4.32%. It has touched an intraday high of Rs 497 and an intraday low of Rs 474. It was trading with

  • Indian GDRs: Mahindra up 6.8%, RIL up 4.2%

    26th June, 2008 11:41

    Indian GDRs: Mahindra, Reliance, Tata Comm, L&T, ICICI Bank, Tata Motors and Ranbaxy gained.

  • Deccan Aviation loses further ground

    26th June, 2008 11:30

    At 11:22 am, Deccan Aviation was quoting at Rs 75.65, down Rs 3.5, or 4.42%. It has touched an intraday high of Rs 82.60 and an intraday low of Rs 75.35. It was tr

  • Escorts tumbles 4.7%

    26th June, 2008 11:18

    At 11:10 am, Escorts was quoting at Rs 75.85, down Rs 3.75, or 4.71%. It has touched an intraday high of Rs 82 and an intraday low of Rs 75.05. It was trading wi

  • Ranbaxy can test Rs 560: N Pillai

    26th June, 2008 11:13

    Neppolian Pillai of Modern Shares & Stock Brokers is of the view that Ranbaxy Laboratories can test Rs 560. On the downside around Rs 492 to Rs 475 will be a great

  • Road ahead to be treacherous for mkts: Modern Shares  

    26th June, 2008 11:10

    Neppolian Pillai, Modern Shares feels that today, markets may see a relief rally within a bear market. He thinks that the road ahead will be treacherous - it’s not

  • See decoupling of Asian currencies from $: Tyche Group 

    26th June, 2008 11:04

    Mark Hennecke, Senior Manager, Tyche Group feels that it could be the beginning of a decoupling of the Asian currencies from the US dollar because one can see Asia

  • Buy Deepak Fertilizers, target of Rs 123: Emkay

    26th June, 2008 10:54

    Emkay Research has recommended a buy rating on Deepak Fertilizers and Petrochemicals Coprn with a target price of Rs 123. At present, the stock trades at 7.3x FY09

  • Base metal prc have seen some short covering  

    26th June, 2008 10:48

    Base metal prices also have seen some short covering yesterday was a day of decline we have seen copper hold around that USD 8,400/tonne also the weakness in US do

  • See FY09 growth at 7.1%: Morgan Stanley 

    26th June, 2008 10:46

    Chetan Ahya of Morgan Stanley expects RBI to tighten policy rates by another 50 bps, but believes that the monetary tightening effect will come slowly. He doesn't

  • +ve on int rate sensitives; risk reward attractive: I-Sec 

    26th June, 2008 10:36

    Girish Pai of I-Sec believes the risk reward in rate sensitives are attractive from a 12-mth perspective. He is positive on interest rate sensitives. Going ahead,

  • Mkts may go up on back of global cues

    26th June, 2008 10:31

    European markets rallied last night, and the US indices were mixed with the Dow unchanged and the NASDAQ strong. Asian markets are up this morning, and the short-t

  • Indiabulls Financial gains 4.5%

    26th June, 2008 10:25

    At 10:17 am, Indiabulls Financial Services was quoting at Rs 285.50, up Rs 12.40, or 4.54%. It has touched an intraday high of Rs 287.80 and an intraday low of Rs

  • Buy Tata Chemical, tgt Rs 337: Angel Broking

    26th June, 2008 10:18

    Angel Broking has maintained buy rating on Tata Chemical with target price of Rs 337. Based on our revised estimates, the stock is available at 10.6x FY2010 FDEPS

  • Broadcast Initiatives up on open offer news

    26th June, 2008 10:13

    At 10:05 am, Broadcast Initiatives was quoting at Rs 34.60, up Rs 0.95, or 2.82%. The company's open offer is at Rs 36.5 per share, reports CNBC-TV18. It was tradi

  • Nifty has resistance at 4303: Hem

    26th June, 2008 10:09

    According to Hem Securities Morning Note, Nifty is having resistance at 4270/4303 while Support is at 4225/4191 levels.

  • Nifty may test 4300-4370: Angel

    26th June, 2008 10:00

    According to Angel Broking Technical Analysis report, on the upside, market is likely to test 14450–14640 / 4300-4370 levels where partial profit booking is sugges

  • Brokers bullish on Apollo Hospital, Thermax, Tech Mah

    26th June, 2008 09:53

    Brokerage houses are bullish on Apollo Hospital, Thermax, Tech Mahindra, BHEL, Idea, Jain Irrigation, Bajaj Hind and Tata Chem.

  • Inflation, higher PLR rates a concern: IDFC MF 

    26th June, 2008 09:36

    Rajiv Anand of IDFC MF feels that the market's condition depends a lot on inflation. He said that if we go deeper into data, it shows that there is no joy in terms

  • Nifty Futures rollover were at Rs 12,580 crore 

    26th June, 2008 09:21

    Nifty Futures rollover were at 3 crore shares versus 2.6 crore shares in last expiry. Nifty Futures rollover were at Rs 12,580 crore versus Rs 12,952 crore in last

  • Support for Nifty at 4190: Karvy

    26th June, 2008 09:19

    According to Karvy Technical Analysis report, world markets have ended on a flat to positive note. Thus, domestic indices may continue to trade northwards with occ

  • Rate hike impact: FMCG ind to put expansion plans on hold

    26th June, 2008 09:08

    FinMin says rate rise would moderate inflation, but consumer product makers are less then sanguine about the move - they say it will have an impact on their future

  • Rupee opens at Rs 42.67 per dollar

    26th June, 2008 09:00

    The Indian Rupee opened at Rs 42.67 per dollar versus Rs 42.74 yesterday.

  • Buy MCX August Gold at Rs 12250

    26th June, 2008 08:59

    In case of gold one could, buy MCX August at Rs 12,250 per 10 grams with a target of Rs 12,320 per 10 grams, says Kumar.

  • Tatas likely to roll out first batch of Nano by October

    26th June, 2008 08:54

    Most of the ancillary units of Tata Motors’ factory in Singur are expected to be ready for operation by October, according to Mr Sandipan Chakravortty, Managing Di

  • Mkts end higher amidst extreme volatility; RIL up 5%

    26th June, 2008 08:50

    Markets ended with good gains amidst extreme volatility through the day on F&O expiry day for the month of June 2008. Buying interest has seen in late trade; the N

  • Money calls: Bhandari, Subramaniam

    26th June, 2008 08:45

    The bonds are likely to remain rangebound today. The 10-year yield may move up by 2 bps in early trade, says Bhandari.

  • Fed keeps rates unchanged; Buffet advises caution

    26th June, 2008 08:40

    The US Fed has kept the benchmark federal funds rate unchanged at 2 percent. The FOMC focused more on the growing risk of inflation. The FOMC statement said – “Alt

  • Stocks in news: BAG Films, Allcargo Global

    26th June, 2008 08:30

    Stocks in news: BAG Films has results today. Allcargo Global has board meet to consider stock split. Broadcast Initiatives open offer is at Rs 36.5 per share.

  • Fund Action witnessed in stocks on 25th June

    26th June, 2008 08:24

    On June 25, fund action was witnessed in Gwalior Chemicals, Simplex Infrastructures, Parekh Alum and Bihar Sponge.

  • Indian ADRs: Tata Comm, ICICI Bk, Tata Motors up

    26th June, 2008 08:18

    Indian ADRs: Tata Comm, ICICI Bank, Tata Motors, Wipro, MTNL, HDFC Bank, Dr. Reddy's and Satyam gained.

  • Asian markets end marginally lower

    26th June, 2008 08:10

    Asian markets ended marginally lower. China's Shanghai Composite slipped by 0.11% or 3.16 points at 2,853.94. Taiwan's Taiwan Weighted fell 0.55% or 43.26 points a

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