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Moneycontrol News Archive : 20 May, 2008

  • FII responds to taxman on taxable P-notes  

    20th May, 2008 21:13

    Last week the taxman is believed to have sent a notice to FIIs saying that henceforth their income from P-notes would be taxable. Now, CNBC-TV18 learns that one FI

  • Bharti-MTN deal unlikely to close by week-end: Srcs 

    20th May, 2008 20:43

    India's biggest cross border M&A deal could take a while to be ironed out. CNBC-TV18 has learnt that contrary to speculation, talks between Bharti Airtel and MTN a

  • RBI nod for HDFC Bank, CBoP merger

    20th May, 2008 20:02

    The Reserve Bank of India, or RBI, has approved HDFC Bank and Centurion Bank of Punjab's scheme of amalgamation, reports CNBC-TV18. All branches of CBOP will funct

  • Now, get insurance while shopping! 

    20th May, 2008 19:58

    India's newest insurer, Future-Generali, has approached the Indian insurance market in a unique way through "mall assurance". So, you can insure your home or car,

  • WTO asks India to cut agri tariffs by 70%: Commerce Min 

    20th May, 2008 19:55

    The Commerce Ministry says there are more points of convergence in the revised agricultural WTO text, reports CNBC-TV18. "The WTO agricultural text asks India to c

  • Citi shuts UK BPO biz

    20th May, 2008 19:51

    Citigroup has announced plans to shut its UK BPO business Future Mortgages and 49 Citifinancial branches. It wants to exit from sub-prime lending in Britain, which

  • DRL targets 25% rev growth in FY09 

    20th May, 2008 19:35

    Satish Reddy, MD, Dr Reddy's Labs said that dependence on SALUTAS has significantly reduced, especially in the last quarter. He expects the company to grow at 25%

  • Unity bags orders worth Rs 383cr from HSRDC

    20th May, 2008 18:45

    Unity bags orders worth Rs 383 crore From HSRDC. A contract worth Rs 142.62 crores was awarded to Unity for widening and upgradation of Rai Nahra Bahadurgarh Road

  • Cairn India adds 24 lakh shares in OI 

    20th May, 2008 18:37

    The total NSE F&O turnover was Rs 33,000 crore, which is even lower than last week’s average of about Rs 37,000-38,000 crore. Cairn India added 24 lakh shares in o

  • Whirlpool of India reports net PAT of Rs 32.3cr for FY07-08

    20th May, 2008 18:18

    Whirlpool of India, a subsidiary of Whirlpool Corporation, the World’s No. 1 Home Appliances Company, today reported a net Profit after Tax of Rs. 32.3 crores for

  • WPI to moderate on monetary, fiscal steps: RBI

    20th May, 2008 18:08

    RBI Governor YV Reddy said the central bank would act swiftly on local, global economic adversities, reports CNBC-TV18. "The recent emphasis is on liquidity manage

  • Bafna Pharmaceuticals IPO to open on May 27

    20th May, 2008 18:01

    Bafna Pharmaceuticals Limited, multi-product pharmaceutical formulations company in diverse therapeutic segments, is entering the capital market with its initial

  • India Biz Excellence Fund invests in Rajasthan NBFC

    20th May, 2008 17:53

    Motilal Oswal managed India Business Excellence Fund invests in leading Rajasthan based NBFC

  • Buy Titagarh Wagons: K Kotak 

    20th May, 2008 17:41

    Kamlesh Kotak of Asian Market Securities is of the view that one can buy Titagarh Wagons for long term. It is an excellent recent real estate company mainly into w

  • Stocks to watch: Videocon, Titagarh Wagons 

    20th May, 2008 17:34

    Rajat Bose of rajatkbose.com said the fall in markets is inline with internationally. Rajat Bose of rajatkbose.com is positive on Videocon. Kamlesh Kotak, VP-Resea

  • Expect 60-70% upside in GEI Industrial: K Kotak 

    20th May, 2008 17:32

    Kamlesh Kotak of Asian Market Securities is of the view that one can expect 60-70% upside in GEI Industrial Systems. It is a very niche player into oil, gas and po

  • Rupee, bonds end lower

    20th May, 2008 17:09

    The spot rupee ended lower at Rs 42.59 per USD as against its previous close of Rs 42.51.

  • Dr Reddy’s FY08 revenue at Rs 50006mn; EBITDA at Rs 9736mn

    20th May, 2008 16:56

    Dr. Reddy’s FY08 Revenue at Rs. 50,006 million; EBITDA at Rs. 9,736 million. EBITDA at Rs. 10 billion ($243 million) in FY08 as against Rs. 16 billion ($40

  • Robeco AM to invest $1-2 bn in mkts over 2 yrs 

    20th May, 2008 16:48

    Niek Molenaar, MD, Robeco AM said there will be USD 1-2 billion flowing into the Indian market over the next two years in their portfolio. He told CNBC-TV18 that I

  • Educomp acquires 51% in US-based Learning.com 

    20th May, 2008 16:43

    Educomp Solutions has acquired 51% stake in USA-based Learning.com for USD 24.5 million. Shantanu Prakash, MD said in FY09 Learning.com will do approximately USD 2

  • Sundaram Entmt Services Opp Fund extends NFO period

    20th May, 2008 16:41

    Sundaram Mutual Fund has extended the NFO period of Sundaram BNP Paribas Select Thematic Funds Entertainment Opportunities till May 23, 2008.

  • Meru complete one-year of successful operations

    20th May, 2008 16:37

    Meru, Mumbai’s premier radio taxi service completes one year of successful operations. V-Link Taxis, one of India’s largest radio taxi operators with operations in

  • Videocon Inds has target of Rs 480-525: Bose 

    20th May, 2008 16:32

    Technical Analyst, Rajat K Bose is of the view that Videocon Industries has target of Rs 480-525.

  • R S Pandey to receive UN Public Service Awards

    20th May, 2008 16:25

    Steel Secretary, Mr. R.S. Pandey, to receive United Nations Public Service Awards. The programme of communitization of Public Institutions and Services in Nagaland

  • Prefer Tata Power to Rel Power: Bose 

    20th May, 2008 16:25

    Technical Analyst, Rajat K Bose is of the opinion that one can prefer Tata Power to Reliance Power.

  • DSP-ML Top 100 Equity declares 50% dividend

    20th May, 2008 16:23

    DSP-ML Top 100 Equity Fund has announced a dividend of 50, for which the record date has been fixed as May 23, 2008.

  • Sebi, AMFI want more transparency in MF offer documents 

    20th May, 2008 16:21

    Market regulator Sebi is in a clean-up mode! A few days ago, it was the IPO refund system and now it is time for mutual funds. Sebi and Association of Mutual Funds

  • ACE sees FY09 bottomline growth at 45% 

    20th May, 2008 16:10

    Sorab Agarwal, MD of Action Construction Equipment (ACE) said there is no pressure on the order book. He added that the order book is more or less maintained at ab

  • Kabra Extrusiontechnik net profit up 177%

    20th May, 2008 15:55

    Kabra Extrusiontechnik net profit up 177%. Sales increased by 23% to Rs. 48.69 cr. Exports increased by 40% to Rs. 20.51 cr. and contributed 42% to sales

  • 5100 and 5,200 are important level on call side of market 

    20th May, 2008 15:45

    Unwinding seen in most of the momentum stock where there is GMR Infrastructure which has seen a cut of nearly 5.5 lakh shares or whether it is Chambal Fertilisers

  • HT Media Q4 net profit at Rs 41.5 cr

    20th May, 2008 15:40

    HT Media has declared its standalone results for the quarter ended March 2008 (Q4). The company's Q4 standalone net profit was at Rs 41.5 crore versus Rs 36.8 cror

  • The Smart Cube targets 100% growth in FY08-09

    20th May, 2008 15:33

    The Smart Cube targets 100% growth in FY08-09

  • Shree Precoated Steel rebranded as Ajmera Realty & Infra

    20th May, 2008 15:26

    Shree Precoated Steel Ltd. rebranded as Ajmera Realty and Infra India Limited

  • Bharat Forge to raise Rs 400 cr via rights issue, stk down

    20th May, 2008 15:21

    At 3:11 pm, Bharat Forge was quoting at Rs 290, down Rs 9, or 3.01%. The company board has approved raising Rs 400 crore via rights issue, reports CNBC-TV18. It wa

  • StanChart Bank expects Re to hold 43/$ levels 

    20th May, 2008 15:17

    Agum Gupta, Head Forex, Standard Chartered Bank, believes that if oil goes above USD 130 per barrel, then sentiments will immediately take a beating and the market

  • BHEL tumbles 3%

    20th May, 2008 15:14

    At 3:05 pm, Bharat Heavy Electricals, BHEL was quoting at Rs 1,739, down Rs 56.3, or 3.14%. It was trading with volumes of 227,646 shares. On Friday the share clos

  • ABB among major losers

    20th May, 2008 15:00

    ABB is among major loser on the Nifty. At 2:55 pm, the share was quoting at Rs 1,028.85, down Rs 43, or 4.01%. It was trading with volumes of 170,008 shares. On Fr

  • ezeego1.com ties up with redBus to offer bus tickets online

    20th May, 2008 14:50

    ezeego1.com, the travel meta-search site, has tied up with redBus (www.redBus.in), the largest consolidator of bus operators (over 270) to provide bus bookings on

  • Crude prices set to rise further: Argus Media 

    20th May, 2008 14:48

    Jason Feer, Vice President & Singapore Bureau Chief of Argus Media said a lot of developments in Europe, Nigeria and the Middle-East indicate rising prices in crud

  • Order book of Shriram EPC worh Rs 217 billion

    20th May, 2008 14:45

    Shriram EPC Ltd. in Joint venture with CPT Asia Holdings Ltd, Hong Kong has received three orders from the Delhi Jal Board (DJB) for the rehabilitation of trunk se

  • Suzlon Energy looks strong: Mohoni 

    20th May, 2008 14:39

    Technical Analyst, Deepak Mohoni is of the view that Suzlon Energy is looking strong at current level. It was under a bit of a pressure a week ago but it has been

  • Mukand FY08 net profit at Rs 59.4 cr

    20th May, 2008 14:33

    Mukand has announced its FY08 results. The company's FY08 net profit at Rs 59.4 crore from Rs 93.3 crore.

  • BoB targets improvement in retail base this yr 

    20th May, 2008 14:25

    MD Mallya, CMD, Bank of Baroda, said the strategy for the current year would be to focus on improving the retail base, both on the liabilities and the asset side.

  • Dr Reddys Labs FY08 cons net profit at Rs 470 cr

    20th May, 2008 14:05

    Dr Reddys Laboratories has announced its fourth quarter results. The company's Q4 consolidated net profit was at Rs 103 crore versus 325.5 crore (US GAAP).

  • Hold Dish TV, says V Sharma 

    20th May, 2008 13:46

    VK Sharma of Anagram Stock Broking is of the view that one can hold Dish TV for long term.

  • Kingfisher eyeing int'l flights from Aug 27 

    20th May, 2008 13:33

    The Kingfisher Management has said that it is confident of starting the international flights from August 27. As Deccan turns 'Five' on August 26, it would be elig

  • Aditi named amongst top 5 IT workplaces in India

    20th May, 2008 13:24

    Aditi Technologies, a product R&D partner to ISVs and financial services enterprises, has been selected as one of the 50 Best Workplaces in India for the year 2008

  • Take Solutions to consider stock split, stk up 3.5%

    20th May, 2008 13:16

    At 13:05 pm, Take Solutions was quoting at Rs 740, up Rs 25.60, or 3.58%. The company has board meet on May 25 to consider stock split, reports CNBC-TV18. It was t

  • Tech Mahindra FY 08 revenues up 44.2%

    20th May, 2008 13:07

    Tech Mahindra Limited, one of the largest solution providers in the telecom space, announced a 44.2% growth in the consolidated revenues and a 41.2% growth in the

  • NDS to offer Indian Pay TV inds the best service & support

    20th May, 2008 12:50

    NDS, the leading provider of technology solutions for digital Pay TV, today announced that the company is increasing its presence in India with the opening of a ne

  • Reliance Infra top loser on theSensex

    20th May, 2008 12:43

    Reliance Infrastructure is the top loser on the Sensex. At 12:34 pm, the share was quoting at Rs 1,407.20, down Rs 53.4, or 3.66%. It was trading with volumes of 1

  • Simple mantras to secure financial freedom

    20th May, 2008 12:30

    Stock markets are like voting machines in the short term, but are like weighing machines in the long term, says master investor Benjamin Graham. One who learns eve

  • PTC announces CoCreate® 2008

    20th May, 2008 12:19

    PTC, the Product Development Company, announced the upcoming general availability of CoCreate 2008 – the latest release of its explicit CAD, PDM & collaboration so

  • Shipping Corp to consider bonus issue, stk up 4.6%

    20th May, 2008 12:12

    At 12:02 pm, Shipping Corporation of India was quoting at Rs 295.45, up Rs 13.20, or 4.68%. The company has board meeting to consider bonus issue, reports CNBC-TV1

  • Avoid Orchid Chemicals, says S Dhawan 

    20th May, 2008 12:05

    Sajiv Dhawan of JV Capital Services feels that from valuations point of view one can ignore Orchid Chemicals. It is totally for the traders in the high risk and no

  • Remain invested in technology stokes: S Dhawan 

    20th May, 2008 11:58

    Sajiv Dhawan of JV Capital Services is of the view that one can remain invested in tech stocks. Technology has had a very good run over the last couple of months.

  • See Nifty support level at 4970: K&A Sec 

    20th May, 2008 11:48

    Sushil Kedia, Head- Institutional Equities of K&A Securities said that the Nifty has been weak since the begining of the day. He believes that should the Nifty tes

  • Parsvnath Dev bags rights to develop Nanocity, stk up

    20th May, 2008 11:37

    At 11:27 am, Parsvnath Developers was quoting at Rs 227.10, up Rs 4.75, or 2.14%. The renewed interest in the stock may be due to the reports in The Economic Times

  • Steel Authority of India a market performer: HDFC-Sec

    20th May, 2008 11:34

    HDFC Securities' has revised its rating on Steel Authority of India to market performer with positive bias from outperformer earlier with target price of Rs 208. S

  • Brokers bullish on Mercator Lines, PNB, DCB

    20th May, 2008 11:27

    Brokerage houses are bullish on Brigade Ent, Mercator Lines, PNB and DCB.

  • Buy 3i Infotech, target of Rs 164: Hem

    20th May, 2008 11:14

    Hem Securities has recommended a buy rating on 3i Infotech with a target of Rs 164. The company has posted excellent results for the year ended FY08. The net sales

  • Inflation may hit 8% in short-term: HSBC 

    20th May, 2008 11:08

    Peter Morgan, Chief Economist (Asia-Pacific), HSBC said that they are fairly positive on rupee, going forward. RBI's monetary position is better than some other As

  • Fund managers cautious on currency & trade: Eurekahedge 

    20th May, 2008 11:02

    Ankur Samtaney of Eurekahedge said that hedge funds are relocating in India and China. He said that the fund managers are cautious on currency and trade.

  • Cairn India touches 52-week high

    20th May, 2008 11:00

    Cairn India has touched a 52-week high of Rs 312.40. At 10:54 am, the share was quoting at Rs 309.25, up Rs 9.60, or 3.20%. It was trading with volumes of 1,906,30

  • Don't exit IT stocks: Vijay 

    20th May, 2008 10:52

    Portfolio Manager, PN Vijay is of the view that one shouldn't exit IT stocks at current level.

  • Margins under pressure, Q1 nos may be hit: ACC 

    20th May, 2008 10:46

    ACC (Associated Cement Company) Management says that their margins are under tremendous pressure and the Q1 numbers are likely to be hit due to freeze on prices. T

  • Buy Tata Steel on dips: Sukhani 

    20th May, 2008 10:38

    Technical Analyst, Sudarshan Sukhani is of the view that one can buy Tata Steel on dips.

  • Unity Infraprojects bags 2 orders, stk up

    20th May, 2008 10:33

    At 10:23 am, Unity Infraprojects was quoting at Rs 558, up Rs 5.90, or 1.07%. The company has bagged 2 orders worth Rs 383 crore from Haryana Roads & Bridges Dvpt

  • Rohit Ferro Tech hits 52-week high

    20th May, 2008 10:27

    Rohit Ferro Tech has touched a 52-week high of Rs 153.80. At 10:18 am, the share was quoting at Rs 153.80, up Rs 7.30, or 4.98%. There were pending buy orders of 4

  • Lupin an outperformer, tgt Rs 800: Karvy

    20th May, 2008 10:22

    Karvy research has maintaiend buy rating on Lupin with target price of Rs 800. Operating margins have moved up from 14.59 % to 15.95%. We have marginally increased

  • Allahabad Bank to consider right issue, stk up

    20th May, 2008 10:16

    At 10:06 am, Allahabad Bank was quoting at Rs 90.90, up Rs 0.90, or 1%. The buying interest in the stock may be due to the reports in DNA that the company is going

  • Tech Mahindra slips on poor results

    20th May, 2008 10:12

    At 10:02 am, Tech Mahindra was quoting at Rs 920, down Rs 36.05, or 3.77%. The company has announced its Q4 numbers. It has posted loss of Rs 223 crore as against

  • Adlabs Films puts on a good show

    20th May, 2008 10:08

    At 10:04 am, Adlabs Films was quoting at Rs 704, up Rs 26.95, or 3.98% on the NSE. It was trading with volumes of 167,257 shares. On Friday the share closed up 0.2

  • Orchid Chemicals bounces back

    20th May, 2008 10:04

    Orchid Chemicals and Pharmaceuticals has bounced back today. At 10 am, the share was quoting at Rs 275.65, up Rs 12.40, or 4.71% on the NSE. It was trading with vo

  • Markets are expected to have downtrend today: Hem

    20th May, 2008 10:00

    According to Hem Securities' Morning Note, the markets are expected to have downtrend today.

  • Market to open on a negative note: IndiaInfoline

    20th May, 2008 09:48

    According to IndiaInfoline's Daily Market Watch report, IndiaInfolines expects the market to open on a negative note given the weakness in the Asian markets. The u

  • Nifty may breach 5300 levels: Sukhani 

    20th May, 2008 09:46

    Sudarshan Sukhani of Technical Trends estimates that the Nifty is likely to breach the 5300 levels. The market is still in the process of consolidation, he feels.

  • Nifty may correct upto 5120: Angel

    20th May, 2008 09:42

    According to Angel Broking Market Outlook report, if Nifty trades below 5144 for the first half-an-hour of trade then it may correct upto 5120.

  • Stocks are likely to trade in a small range: Khandwala

    20th May, 2008 09:37

    According to Khandwala Securities Market Preview report, the local stocks are likely to trade in a small range with perhaps a downward bias as the bulls seem lacki

  • Mkts to witness a sideways trading session: Karvy

    20th May, 2008 09:29

    According to Karvy Stock Broking Weekly Technical Analysis report, Karvy expect's domestic indices to witness a sideways trading session for today. The likely rang

  • JLR to invst Ł700 m to develop green technologies

    20th May, 2008 09:25

    Tata Motors said that they were aware of the proposed EU emission norms It said that the discussion on the new EU norms have been on for 2-3 years. JLR will invest

  • Week starts off on a mixed note 

    20th May, 2008 09:20

    We are back after a long weekend and last week was good for the market. But this morning the things are a bit mixed once again; this after the nice little 3% plus

  • Govt disinvestment policy halts NTPC follow-on offer

    20th May, 2008 09:10

    The Finance Ministry said on Monday that it did not agree to the proposal of divestment of 4.75 per cent equity of NTPC, reports The Hindu Business Line

  • Mkts end weak; banks, realty stocks hammered

    20th May, 2008 09:08

    It was a disappointing session for the markets though recoverd a bit from day's low. Huge profit booking seen in realty, banking, pharma and oil stocks barring som

  • Tech Mahindra Q4 loss at Rs 223 cr

    20th May, 2008 09:02

    Tech Mahindra has announced its Q4 numbers. It has posted loss of Rs 223 crore as against profit of Rs 196 crore. Revenues stood at Rs 990.7 crore versus Rs 911.6

  • Saksoft Q4 net profit at Rs 55 lakh

    20th May, 2008 09:00

    Saksoft has declared its results for the quarter ended March 2008 (Q4). Its net profit was at Rs 55 lakh versus Rs 1.81 crore.

  • Sell MCX Gold June at Rs 12380

    20th May, 2008 08:59

    For gold, sell MCX June at Rs 12,380 per 10 gram, says Mittal.

  • Equity calls: Mahajan, Khade 

    20th May, 2008 08:48

    Expect markets to trade with a positive bias with profit booking coming in at 5200-5250 levels, says Mahajan

  • Future’s Central plans variable prices, products

    20th May, 2008 08:40

    Future Group-owned Central retail brand of stores will have a differentiated product and pricing strategy for each market it enters. According to Mr Vishnu Prasad,

  • Fund Action witnessed in stocks on 16 th May

    20th May, 2008 08:34

    On May 16, fund action was witnessed in Aptech, Sita Shree Foods, Shriram City, Webel-SL Energy and Man Industries.

  • ACE Q4 PAT at Rs 9.87 cr

    20th May, 2008 08:32

    Action Construction Equipment, ACE has announced its Q4 and FY08 numbers. It has posted profit after tax, PAT of Rs 9.87 crore for the quarter ended March 2008 as

  • Market cues: Open Int up by Rs 1544 cr

    20th May, 2008 08:28

    Market cues: NSE F&O Open Int up by Rs 1,544 crore from Rs 76,248 crore to Rs 77,793 crore.

  • Indian ADRs: Sterlite, Tata Comm up

    20th May, 2008 08:23

    Indian ADRs: Sterlite, Tata Comm, HDFC Bank gained, while Infosys and Patni slipped.

  • US mkts end with moderate gain; Dow up 41 points

    20th May, 2008 08:19

    US markets ended the day nearly unchanged following a late-day sell-off. Weakness in techs, retail and housing prompted traders to lock in some profits. Dow Jones

  • PSU banks to continue farm loans despite rising defaults 

    20th May, 2008 20:54

    The dilemma between commercial banking and toeing the line of their shareholder i.e the government, is not restricted to State Bank of India, or SBI. A bunch of PS

  • Bharat Forge forms holding co to unlocking value 

    20th May, 2008 20:25

    Bharat Forge-the world's second largest forging company has embarked on a new strategy to unlock value. It has formed a holding company towards achieving this targ

  • Areva T&D plans to invest Rs 700cr in next 2-3 yrs

    20th May, 2008 20:00

    Areva T&D plans to invest Rs 700 crore in the next 2-3 years, reports CNBC-TV18. About 50% of investment will be through internal accruals, while the remaining wil

  • Furnish details of discussions with BIAL: HC to govt

    20th May, 2008 19:57

    The Vacation Bench of the Karnataka High Court has asked the Union of India to furnish details of deliberations with Bangalore International Airport, or BIAL, repo

  • Agri sector NPAs have risen in past yr: SBI 

    20th May, 2008 19:51

    OP Bhatt, Chairman, SBI, said the bank’s NPAs in the agriculture sector have risen significantly in the past year. "There are pockets in the country where there ar

  • IL&FS sees mkt at 18k in 2-3 months 

    20th May, 2008 19:50

    Vibhav Kapoor of IL&FS sees the Sensex trading in the 15,000-18,000 band. He told CNBC-TV18, “On the upside, 18,000 is the limit, which the market can go to in the

  • Suzlon’s annual revenues up by 71%

    20th May, 2008 18:53

    Suzlon’s annual revenues up by 71%. Profit after tax before exceptional items stood at INR 1168.32 crore. Exceptional items consist of INR 65.46 crore for site res

  • Ctrl S and IBM sign MoU

    20th May, 2008 18:37

    Ctrl S Data Centers Ltd., the Pioneers in Tier IV data center In India, today announced the signing of a Memorandum of Understanding (MoU) with IBM. Under the term

  • DAMAC Properties to deliver over 2300 units in 2008

    20th May, 2008 18:27

    DAMAC Properties to deliver over 2300 units in 2008, additional 7100 units in 2009/10

  • Archidply Industries gets SEBI go-ahead

    20th May, 2008 18:09

    Archidply Industries Limited, manufacturers of comprehensive engineered interior products which include Plywood, Block Board, Plain and Pre Laminated Particle Boar

  • See aluminium prices at $2,700-2,900/tn in FY09: Nalco

    20th May, 2008 18:07

    Nalco has hiked aluminium prices by Rs 8,000 per tonne, reports CNBC-TV18, quoting agencies. The company says it has raised prices on strong LME trend, reports New

  • Not dependent on SALUTAS any more: DRL 

    20th May, 2008 17:57

    GV Prasad, VC & CEO, Dr Reddy's Labs said it is not dependent on SALUTAS any more, reports CNBC-TV18. "We will see improvement in the coming quarters. The Custom P

  • Tadiran Telecom announces unified communication Solns

    20th May, 2008 17:45

    Tadiran Telecom announces Unified Communication Solutions for Indian Enterprises. The market for Unified Communications (UC) is expected to be $50 billion worl

  • HSBC wins Canara Robeco Mutual Fund mandate in India

    20th May, 2008 17:38

    HSBC Securities Services has won the outsourced fund administration mandate for a leading fund manager - Canara Robeco Asset Management Company (AMC). With assets

  • Crude to touch $130/bbl soon: Normans Martin 

    20th May, 2008 17:33

    Ram Pitre, COO, Normans Martin said the trend is bullish at the moment. He told CNBC-TV18 that if crude remains above USD 126.14 per barrel for the day, it can tou

  • Current ‘bear market rally’: A good exit opportunity?

    20th May, 2008 17:13

    Investors the world over would pray unanimously hoping legendary investor George Soros is wrong, this time round. But, then he is not the only one hard talking. Th

  • BSEL Infra signs MoU with IRDA

    20th May, 2008 16:59

    BSEL Infra, 1st Indian company to invest and develop property in Malaysia. The agreement is that BSEL Infra has committed to invest in Iskandar Malaysia to the tun

  • Patni launches Patni atoms

    20th May, 2008 16:49

    Patni launches Patni atoms™, the industry’s first pre-packaged business process platform for telecom and media companies

  • Altera announce FPGAs & HardCopy ASICs

    20th May, 2008 16:45

    Altera announces industry’s first 40-nm FPGAs & HardCopy ASICs. With the increasing demand for services such as video over Internet, high-speed wireless data and d

  • Kodak offers 10 lucky winners a date with Katrina Kaif

    20th May, 2008 16:42

    Kodak offers ten lucky winners a date with Katrina Kaif, introduces a campaign with loads of assured prizes.Kodak, the pioneer in digital photography, has launched

  • Axis Bank has support at Rs 840-850: Bose 

    20th May, 2008 16:41

    Technical Analyst, Rajat K Bose is of the view that Axis Bank has support at Rs 840-850. If any further fall happens in it, say below Rs 855 or so, and then it can

  • Will HSBC's open offer for IL&FS get through? 

    20th May, 2008 16:34

    Through it's subsidiaries, HSBC has acquired 73.21% stake in IL&FS Investsmart. HSBC will be required to pay Rs 200 per share for the stake in IL&FS Investmart at

  • Agri-commodity space a good bet: S Narayan 

    20th May, 2008 16:28

    Sameer Narayan, VP Equities & Fund Manager, ABN AMRO Asset Management is of the view that agri-commodity space is a good bet. There is not too much of land that is

  • Power sector a safe bet: ABN Amro Asset Mgmt 

    20th May, 2008 16:25

    Sameer Narayan, VP Equities & Fund Manager, Abn Amro Asset Management said that the on should not be very pessimistic or bearish on the market. He added that India

  • Bank of Baroda's net profit up by 12.5% for Q407-08

    20th May, 2008 16:25

    Bank of Baroda's net profit up by 12.5% for Q407-08. Operating Profit of the Bank at Rs 3,028.55crore in 2007-08 was up 25.41% over the Operating Profit at Rs 2,41

  • Phoenix Lamps PAT up by 51.86% to Rs 1479.95 lakh

    20th May, 2008 16:22

    Phoenix Lamps PAT up by 51.86% to Rs 1479.95 lakh. Phoenix Lamps Limited, India's No. 1 manufacturer of Automotive Lamps and Compact Fluorescent Lamps announced it

  • Cairn India has target of Rs 344-348: Bose 

    20th May, 2008 16:20

    Technical Analyst, Rajat K Bose is of the view that Cairn India has target of Rs 344.348.

  • Derisking efforts to make biz robust: Emkay Shares

    20th May, 2008 16:05

    Emkay Shares & Stock has announced its results for the quarter ended March 2008 (Q4). The company's net sales were at Rs 31.34 crore versus Rs 15.44 cr on YoY basi

  • Investors have become less risk averse now: Gartmore Invt 

    20th May, 2008 15:53

    Christopher Palmer, Gartmore Investment Management feels that investors have become much less risk averse now and are not reacting as violently to the downside as

  • Tech Mah, Accenture in JV with BT for $1-b deal: Sources

    20th May, 2008 15:41

    Tech Mahindra and Accenture would partner with British Telecom for USD1 billion deal, reports CNBC-TV18, quoting sources. It will be the largest shareholder in the

  • Plastiblends net profit up 100%

    20th May, 2008 15:40

    Plastiblends net profit up 100%. Sales increased by 23% to Rs. 43.62 cr.Exports increased by 24% to Rs. 9.61 cr. and contributed 22% to sales

  • Poonawala's invst in Orchid Chem financial in nature: Srcs 

    20th May, 2008 15:32

    Sources tell CNBC-TV18 that Cyrus Poonawala's investment in Orchid Chemical is said to be financial in nature. Poonawala’s companies have been investing in emergin

  • Emkay Shares Q4 net profit at Rs 2.67 cr

    20th May, 2008 15:22

    Emkay Shares & Stock has announced its results for the quarter ended March 2008 (Q4). The company's net profit was at Rs 2.67 crore versus Rs 22 lakh on YoY basis

  • Bharat Forge FY08 PAT at Rs 290.8cr

    20th May, 2008 15:17

    Bharat Forge has announced it FY08 results. It’s consolidated net profit was at Rs 290.8 crore versus Rs 283.5 crore. It’s consolidated net sales was at Rs 4652.3

  • Invt should diversify outside India: Principal PNB MF 

    20th May, 2008 15:15

    Rajat Jain, CIO, Principal PNB MF, said returns from offshore investing in emerging markets have been better than those investing in India. He told CNBC-TV18 that

  • Mundra Port up on large volumes

    20th May, 2008 15:00

    Mundra Port was trading with volumes of 2,534,544 shares. At 2:54 pm, the share was quoting at Rs 879.70, up Rs 105.80, or 13.67%. On Friday the share closed down

  • Jaiprakash Associates top loser on the Sensex

    20th May, 2008 14:57

    Jaiprakash Associates is the top loser on the Sensex. At 2:48 pm, the share was quoting at Rs 256.90, down Rs 13.2, or 4.89%. It was trading with volumes of 2,588,

  • Block deal in ICICI Bank, stock down

    20th May, 2008 14:49

    At 2:39 pm, ICICI Bank was quoting at Rs 919.05, down Rs 22.1, or 2.35%. There was a block deal of 34.3 lakh ICICI Bank shares on NSE in 3 deals, reports CNBC-TV18

  • IVRCL Infra has target of Rs 520-530: Mohindar 

    20th May, 2008 14:45

    Rahul Mohindar of Viratechindia is of the view that IVRCL Infrastructure and Projects has target of Rs 520-530. It has support at Rs 400. If it breaks out above Rs

  • Adobe offers new eLearning Tools for educators

    20th May, 2008 14:42

    Adobe Systems Incorporated announced new eLearning tools to make it easier for educators to create and deliver online learning to students. New hosted and license

  • Educomp acquires majority stake in Learning.com for $24.5mn

    20th May, 2008 14:35

    Educomp Solutions Ltd today announced that it has acquired a 51% stake in leading US based eLearning company, Learning.com. The majority stake has been acquired by

  • Sierra Atlantic partners with Callidus Software

    20th May, 2008 14:26

    Sierra Atlantic, the leader in offshoring enterprise applications and outsourced product development, today announced it closed an agreement with Callidus Software

  • Bharati AXA Invt bullish on IT, autos, select banks 

    20th May, 2008 14:19

    Prateek Agrawal, Head-Equities, Bharati AXA Investment Managers, said markets are evenly priced at current valuations. He told CNBC-TV18 that in terms of sectors h

  • Accumulate Steel Authority of India: Khandwala

    20th May, 2008 14:00

    Khandwala Securities has recommended an accumulate rating on Steel Authority of India. Higher realization and strong volumes resulted in 29.8% rise in net sales to

  • Nokia India joins with WWF-India for Tiger Conservation

    20th May, 2008 13:34

    Nokia, the leading mobile communications company in India, today announced its partnership with WWF-India, one of the largest conservation organizations in the cou

  • Keep Rs 140 stoploss in GMR Infra: Mohoni 

    20th May, 2008 13:30

    Technical Analyst, Deepak Mohoni is of the view that in GMR Infrastructure one should keep Rs 140 stoploss.

  • Sell GMR Infrastructure on rallies: V Sharma 

    20th May, 2008 13:23

    VK Sharma of Anagram Stock Broking is of the view that one can sell GMR Infrastructure on rallies. From a long-term perspective it looks good from the point of vie

  • ArcelorMittal announces bond issue

    20th May, 2008 13:16

    On 19 May 2008, ArcelorMittal completed the pricing of a US$ denominated issue of 5 year and 10 year notes, consisting of US$3,000,000,000 aggregate princi

  • L&T bags orders worth Rs 635cr in the Gulf Region

    20th May, 2008 12:57

    Larsen & Toubro Limited (L&T) has bagged four EPC electrical project orders worth Rs 635 crore from UAE and Oman in the Gulf Region. The projects will be executed

  • L&T bags order, stk down

    20th May, 2008 12:49

    At 12:45 pm, Larsen and Toubro, L&T was quoting at Rs 2,954.90, down Rs 43.85, or 1.46%. The company has bagged order worth Rs 635 crore from West Asia, reports CN

  • Damac completes & delivers Lake Terrace

    20th May, 2008 12:42

    Dubai developer, Damac, yesterday announced the completion and delivery of 572 units in its Lake Terrace project at Jumeirah Lake Towers as the first step in handi

  • ArcelorMittal donates for victims of Sichuan earthquake

    20th May, 2008 12:29

    ArcelorMittal is donating over 1 million RMB to the Chinese Red Cross Foundation to help the relief efforts in China following the earthquake that struck Sichuan o

  • See FY09 growth at 40-50%: Suzlon 

    20th May, 2008 12:15

    Tulsi Tanti of Suzlon Energy said that the company would continue to grow at around 40-50% in the next financial year. He said that it to grow at double the pace o

  • Triveni Infrastructure files for an IPO with SEBI

    20th May, 2008 12:09

    Triveni Infrastructure Development Company Limited, a real estate developer with primary focus on the National Capital Region (NCR) of India and Tier-II and Tier-I

  • BoB to focus on retail for advances & deposits

    20th May, 2008 12:04

    Bank of Baroda has announced its fourth quarter results. The company's Q4 net profit was at Rs 276 crore versus Rs 245.66 crore.

  • Buy Apollo Tyres, tgt Rs 66: PINC

    20th May, 2008 11:54

    PINC research has maintained buy rating on Apollo Tyres with target price of Rs 66. Growth in tyres would continue to be driven by replacement market coupled with

  • Bank of Baroda Q4 net profit up 12.35% at Rs 276 cr

    20th May, 2008 11:47

    Bank of Baroda has announced its fourth quarter results. The company's Q4 net profit was at Rs 276 crore versus Rs 245.66 crore.

  • Suzlon to add 3000 MW wind turbine unit 

    20th May, 2008 11:34

    Tulsi Tanti, Chairman and Managing Director Suzlon Energy said they would be adding 3000 MW new integrated wind-turbine unit.

  • Suzlon FY08 cons net profit up 19% at Rs 1030.10 cr

    20th May, 2008 11:28

    Suzlon Energy has decalred its FY08 and fourth quarter results. Its FY08 onsolidated net sales were up at Rs 13,679.43 crore from Rs 7,985.73 crore, YoY.

  • Real estate space looks weak: Vijay 

    20th May, 2008 11:19

    Portfolio Manager, PN Vijay is of the view that real estate space is looking weak.

  • Buy Lanco Infratech on dips: Sukhani 

    20th May, 2008 11:13

    Technical Analyst, Sudarshan Sukhani is of the view that one can buy Lanco Infratech on dips. After a very sharp correction it beginning an upmove, which could las

  • Buy Sterlite Industries: Sukhani 

    20th May, 2008 11:07

    Technical Analyst, Sudarshan Sukhani is of the view that investors can buy Sterlite Industries and traders should try to go long and get out and then again search

  • Enter in Cairn at Rs 220-230: Sukhani 

    20th May, 2008 11:01

    Technical Analyst, Sudarshan Sukhani is of the view that one can enter in Cairn at Rs 220-230. It is in a long-term uptrend, so the levels would always be seeking

  • New contracts to give long-term revenue flow: Tech Mahindra 

    20th May, 2008 10:57

    Tech Mahindra has announced its Q4 numbers. It has posted loss of Rs 223 crore as against profit of Rs 196 crore. Revenues stood at Rs 990.7 crore versus Rs 911.6

  • Fertilizers & Banking stks to see profit booking: Networth

    20th May, 2008 10:47

    According to Networth Stock Broking Market Review report, markets are likely to open weak and are expected to witness resistance around 5150 while support exists a

  • HSBC acquires 73.21% stake in IL&FS Invest, stk down

    20th May, 2008 10:45

    At 10:33 am, IL&FS Investsmart was quoting at Rs 192.25, down Rs 6.55, or 3.29%.

  • Indian GDRs: ITC up 3.6%, Sterlite gains 2.8%

    20th May, 2008 10:34

    Indian GDRs: GAIL, ITC, L&T, SBI, Sterlite and Tata Communications have gained while Satyam, Tata Motors and Infosys lost ground.

  • We may see stocks slip today

    20th May, 2008 10:29

    Most European markets went up sharply last night, while the US indices finished mixed. Asian markets are in the red this morning, and the global short-term trend h

  • Kolte-Patil Q4 net profit at Rs 40.09 cr

    20th May, 2008 10:24

    Kolte-Patil Developers has announced its results for the quarter ended March 2008 (Q4). The company's net profit was at Rs 40.09 crore versus Rs 14.28 crore.

  • Karnataka Bank Q4 PAT at Rs 60.78 cr

    20th May, 2008 10:17

    Karnataka Bank has declared its results for the quarter ended March 2008 (Q4). Its PAT was up by 127% to Rs 60.78 crore from Rs 26.76 crore.

  • Satyam an outperformer, tgt Rs 570: Karvy

    20th May, 2008 10:16

    Karvy research has maintained outperformer rating on Satyam Computers with target price of Rs 570.The US case is in a very preliminary stage and has to undergo the

  • India bull(s)ish on retail 

    20th May, 2008 10:11

    India Bulls Retail plans to invest Rs1500 crore over the next one year. After taking over Pyramid Retail earlier this year India bulls is now in the process of exp

  • When credit cards make you broke

    20th May, 2008 10:05

    Has a large amount of cash gone missing from your bank account? Your credit card could have something to do with it.

  • Sterlite Industries maintain its march ahead

    20th May, 2008 10:01

    Sterlite Industries has continued to gain. At 09:56 am, the share was quoting at Rs 935, up Rs 38.75, or 4.32% on the NSE. It was trading with volumes of 88,749 sh

  • US markets end mixed 

    20th May, 2008 09:53

    We saw a mixed market on Monday with the blue-chips settling up by 41-points after initially rallying by triple digits on Dow. Investors took horror from the confe

  • S Kumars Nationwide Q4 net profit at Rs 62.9 cr

    20th May, 2008 09:47

    S Kumars Nationwide has declared its results for the quarter ended March 2008 (Q4). Its net profit was at Rs 62.9 crore versus Rs 21.8 crore.

  • Mkts getting mixed signals from economy: PN Vijay 

    20th May, 2008 09:45

    Portfolio Manager PN Vijay said inflation continues to be stubborn and the rupee continues to remain weak so in this environment nobody is talking about buying. Ma

  • Shyam Telelink under Sebi scanner

    20th May, 2008 09:39

    The Ministry of Corporate Affairs has been asked by Sebi to look into a complaint filed against Shyam Telelink. Promoters of Shyam are being accused by a group of

  • Support for the Sensex is at 17300

    20th May, 2008 09:35

    The support for the Sensex is at 17300 and the resistance to the up move at 17676-18054-18411

  • No new LPG connections?

    20th May, 2008 09:25

    Hoping to offset the projected two lakh crore rupees under recoveries this year, the OMCs wanted to freeze all new LPG connections, but they have found no takers f

  • Outlook for the markets is that of continued optimism

    20th May, 2008 09:21

    The outlook for the markets on Tuesday is that of continued optimism, all things remaining constant. Since the domestic markets are enjoying a long weekend, any ne

  • Asian markets taking a breather: Schroders Private Clients 

    20th May, 2008 09:17

    On answering a query on the outlook for Asian markets for the near to short-term Leslie Phang, Head of Investments at Schroders Private Clients told CNBC-TV18 the

  • Can Sensex sustain at higher range?

    20th May, 2008 09:10

    The bears who were dominant two weeks back got an equally strong reply last week. Weekly resistance will be at 17600-17773. Weekly support will be at 17159-16821-

  • Crude at $127.24/bbl

    20th May, 2008 09:05

    Crude has hit another record high to trade above the USD 127/bbl mark, amid skepticism that Saudi Arabia’s decision to increase output by 300,000 barrels a day wil

  • Money calls: Ramkumar, Sharma

    20th May, 2008 09:02

    Bond market will be in a narrow range with a negative bias. There are concerns of WoW inflation nos not coming off at all and crude touching USD 128 per barrel, sa

  • Rupee opens at Rs 42.62 per dollar

    20th May, 2008 09:00

    The Indian Rupee opened at Rs 42.62 per dollar versus Rs 42.51 Friday.

  • Shipping Corpn plans to double fleet of OSVs

    20th May, 2008 08:52

    The Shipping Corporation of India (SCI) is currently busy finalising its acquisition plan for various types of offshore supply vessels (OSVs) such as anchor-handle

  • Stocks in news: GMR Infra, Shipping Corp, IL&FS Invest

    20th May, 2008 08:43

    Stocks in news: GMR Infra has results today. Shipping Corporation has board meet to consider bonus issue. HSBC has acquired 73.21% stake in IL&FS Investsmart.

  • Foster’s, Royal Challenge beers to enter TN market

    20th May, 2008 08:39

    With demand for beer soaring with the temperature, the Tamil Nadu Government has placed orders through Tasmac (Tamil Nadu State Marketing Corporation) for beer bra

  • ONGC Videsh to relinquish block in Libya

    20th May, 2008 08:34

    ONGC Videsh Ltd (OVL) plans to relinquish its onshore exploration block in Ghadames basin, Libya, in favour of the National Oil Company of that country, as OVL and

  • F&O cues: Futures Open Int up by Rs 108 cr

    20th May, 2008 08:31

    F&O cues: Nifty Futures Open Int up by Rs 108 cr from Rs 45,680 cr to Rs 45,789 cr. Futures Open Int up by Rs 108 cr; Options Open Int up by Rs 1,435 cr.

  • REC to fund debt portion of NTPC’s Chennai project

    20th May, 2008 08:26

    Rural Electrification Corporation has agreed to fund the entire debt of the 1,000-MW coal-based power project being put up jointly by NTPC and the Tamil Nadu Elect

  • SBI suspends loans for buying tractors, farm equipment

    20th May, 2008 08:20

    State Bank of India, the largest bank in the country, has suspended new loans for buying tractors and other farm equipment.

  • Asian markets end lower

    20th May, 2008 08:16

    Asian markets ended lower. Shanghai Composite was down 4.48% or 161.60 points at 3,443.16. Hang Seng fell 572.77 points or 2.23% at 25,169.46. Taiwan Weighted fell

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