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Moneycontrol News Archive : 22 May, 2008

  • Disappointing session for MF NAVs as mkts plunge

    22nd May, 2008 23:39

    It was completely disappointing session for the equity diversified NAVs, which ended lower with negative advance:decline ratio of 211 as markets ended sharply lowe

  • 4.5L SIPs added to MF kitty this year 

    22nd May, 2008 20:43

    The markets might have been in a state of turmoil for the last few months, but it seems that nothing unnerves mutual fund investors. Nearly four and a half lakh sy

  • Gbl software ind loses $48 bn to piracy in '07 

    22nd May, 2008 20:26

    A ten point reduction in piracy levels in India over the next 4 years would generate an additional $3.1 billion to India's GDP, as well as create 44,000 new jo

  • OMCs seek ways to reduce losses 

    22nd May, 2008 20:11

    Oil marketing firms are trying out different ways to reduce their losses. At the current price of crude, they are likely to take a hit of Rs 1,90,000 crore in 2008

  • ABN AMRO partners with PayMate to pay via mobile

    22nd May, 2008 19:20

    ABN AMRO India partners with PayMate to enable 4.6 lakh customers to pay via mobile

  • HTC unveils the ‘Touch Diamond’ in India

    22nd May, 2008 19:10

    HTC Corp., a global leader in mobile phone innovation and design, today unveiled its new flagship phone, the HTC Touch Diamond™.

  • Crude@135/bbl: Fly further, pay more? 

    22nd May, 2008 19:00

    With crude prices continuing to skyrocket, airlines are planning to introduce a new slab for fuel surcharge on tickets to factor in the rising costs. Long haul fli

  • Mkts to stay rangebound: PN Vijay 

    22nd May, 2008 18:54

    PN Vijay, Portfolio Manger said that India is feeling the full impact of high crude prices and it does not even have a rupee to cushion that effect. He said that t

  • Lilavati Hospital, Mumbai wins 'The Trusted Brand' award

    22nd May, 2008 18:45

    The 300 bed Lilavati Hospital Mumbai recently won 'The Trusted Brand' award by Reader's Digest and India Today. It is the only hospital to be recognized thus in th

  • Upfront margins for institutional invt in abeyance: Sebi 

    22nd May, 2008 18:39

    Market regulator, Sebi has kept in abeyance upfront margins for institutional investors. Institutional trades in the cash market would continue on a T+1 margin bas

  • Which are the stocks to watch out for? 

    22nd May, 2008 18:24

    The markets were down and out right from the word go. Weak global cues coupled with skyrocketing crude prices dented investor sentiment. Nifty closed at 5,025 down

  • ABG Shipyard delivers vessel to Deep Sea Supply, ASA Norway

    22nd May, 2008 18:21

    ABG Shipyard Ltd, the country's largest shipyard has delivered a highly impressive new Anchor Handling Tug Supply Vessel "SEA WOLVERINE" to Deep Sea Supply ASA, No

  • 9X reveals Mahabharata logo

    22nd May, 2008 18:11

    INX Media’s flagship channel, mega Hindi GEC 9X, today unveiled a unique, powerful logo for its forthcoming epic drama Mahabharata. Created by INX Media’s in-house

  • Bangalore Airport opening may be delayed  

    22nd May, 2008 18:00

    The case is still going on. This is a marathon case that has been going on for the last four and a half hours. Both sides are arguing vehemently for their side. Th

  • Niraj Cement IPO opens May 26,price band at Rs 175-190

    22nd May, 2008 17:50

    Niraj Cement Structurals Limited, an engineering and construction company focusing on road construction development, proposes to enter the capital markets on 26th

  • Cummins India sales for 07-08 up 27%

    22nd May, 2008 17:20

    Cummins India Limited Net sales for the quarter ended March 31, 2008 stood at Rs. 670 Crores, an increase of 33% over the same period last year, which had stood at

  • Goa Carbon to maintain profits despite high input cost 

    22nd May, 2008 17:08

    Shrinivas V Dempo, Chairman of Goa Carbon said they did Rs 12 crore in profits for the last quarter itself and that finally comes from the substantial revision in

  • Stay away from Axis Bk, Kotak Mahindra: Gujral 

    22nd May, 2008 16:57

    Technical Analyst, Ashwani Gujral is of the view that one can stay away from Axis Bank, Kotak Mahindra. They are underperforming; most of them are below their 200

  • 5 State Govts announce auctions for SDL 2018

    22nd May, 2008 16:49

    Five State Governments announce Auctions of State Development Loans 2018 for Rs. 3,264.100 crore on May 27. Bids in the prescribed form obtainable from the Regiona

  • Avoid tea stocks: Gujral 

    22nd May, 2008 16:43

    Technical Analyst, Ashwani Gujral is of the view that one can ignore tea stocks.

  • 91 day Treasury Bills: Auction Result

    22nd May, 2008 16:36

    91 day Treasury Bills: Auction Result. Date of Auction: May 21, 2008.

  • Rohit Ferro arm, PSP Group ink coal mining MoU 

    22nd May, 2008 16:32

    Ankit Patni, Joint MD, Rohit Ferro Tech said that the company has recently made a wholly-owned subsidiary in Singapore known as SKP Overseas Private Limited. He to

  • Cairn a good hedge against rising oil prices: N Sheth 

    22nd May, 2008 16:29

    Nirav Sheth of BRICS Securities is of the view that Cairn India is overvalued and right now it seems to be a good hedge against the rising oil prices.

  • Havells India sees 25% growth in profits & revenues 

    22nd May, 2008 16:24

    Anil Gupta, Joint MD, Havells India said the company has seen a 41% jump in the profit over last year. He added that the company is looking at growing Havells Indi

  • See crude touching $140/bbl by Friday: Experts 

    22nd May, 2008 16:16

    Crude surged to a record high of 135 dollar per barrel after a US government report showed a surprise drop in crude stockpiles, reinvigorating fears of a supply cr

  • Omaxe Ltd collaborates with Leander Sport

    22nd May, 2008 16:04

    Omaxe, one of the India’s leading real estate companies today announced its association with a leading Wellness Concepts design company in the world “Leander Spo

  • What led to Sylph Tech's unsual listing? 

    22nd May, 2008 16:00

    Sylph Technologies has re-listed at Rs 152. The last traded price before re-listing was 80 paise. Rajesh Jain, Director of Sylph Technologies said that on the net

  • Reconstructing Index is primary concern: KV Kamath 

    22nd May, 2008 15:57

    KV Kamath, MD, ICICI, has been appointed the new President of CII. He said, "Our index is not right; index has not been recalibrated. So to reconstruct the index i

  • Rain Calcining rating withdrawn after reorganization

    22nd May, 2008 15:45

    Standard & Poor's Ratings Services said today it withdrew its 'B' corporate credit rating on India-based calcined petroleum coke producer, Rain Calcining Ltd. (RCL

  • Tech Mahindra an outperformer: Prabhudas Lilladher

    22nd May, 2008 15:32

    Prabhudas Lilladher's has maintained its outperformer rating on Tech Mahindra with a target price of Rs 1028. Tech Mahindra reported Q4FY08 numbers in line with re

  • Is Cairn PLC in takeover talks with Eni SpA? 

    22nd May, 2008 15:26

    There are reports which suggest that Eni SpA of Italy is in talks with Cairn Energy PLC for a possible takeover. With respect to Exploration and Production (E&P) a

  • Microsoft expands list of MS-supported formats

    22nd May, 2008 15:16

    Microsoft Corp. is offering customers greater choice and more flexibility among document formats, as well as creating additional opportunities for developer and co

  • JSW Steel melts down 5.3%

    22nd May, 2008 15:12

    At 3:03 pm, JSW Steel was quoting at Rs 1,074, down Rs 60.75, or 5.35%. It has touched an intraday high of Rs 1,124 and an intraday low of Rs 1,058. It was trading

  • Mcleod Russel declines 6%

    22nd May, 2008 15:05

    Mcleod Russel has touched a 52-week high of Rs 118.70. At 2:55 pm, the share was quoting at Rs 108, down Rs 7.05, or 6.13%. It was trading with volumes of 2,749,48

  • Videocon Appliances slips from higher level

    22nd May, 2008 15:01

    At 2:51 pm, Videocon Appliances was quoting at Rs 33.55, down Rs 2.65, or 7.32%. It was trading with volumes of 669,664 shares. Yesterday the share closed up 19.87

  • Rising crude to push Re beyond 43.7/$: Experts  

    22nd May, 2008 14:55

    Ashit Parekh, Head of Forex, IndusInd Bank sees the rupee heading to 43.50-43.70 levels. Sunil Kalra, Director and Head of Trading-Fixed Income and Currencies, Cit

  • ICICI Bank among major losers

    22nd May, 2008 14:52

    ICICI Bank is among major losers on the Sensex. At 2:43 pm, the share was quoting at Rs 880.55, down Rs 30.7, or 3.37%. It was trading with volumes of 909,298 shar

  • Havells net revenue increased by 24% to Rs 548cr

    22nd May, 2008 14:42

    Havells net revenue for the qtr stood at Rs 548cr. Profit After Tax for the quarter at Rs.39 crores. Tax for the quarter stood at Rs 47 crores

  • Genovate becomes Novell’s Platinum partner in India

    22nd May, 2008 14:35

    Genovate, a leading high-end technology company, has announced that they have become Novell’s first platinum partner in India. Genovate provides Business applicati

  • Angel neutral on Steel Authority of India

    22nd May, 2008 14:31

    Angel Broking has maintained its neutral rating on Steel Authority of India. In 4QFY2008, SAIL posted a yoy 30% surge in Topline to Rs 13,477 crore (Rs 10,385 cror

  • Apar Ind to up stake in Uniflex Cables to 50%: Srcs 

    22nd May, 2008 14:18

    Apar Industries will up stake in Uniflex Cables to nearly 50%, reports CNBC-TV18, quoting sources. It currently holds 33.41% stake in it. The stake will be acquire

  • Buy Prism Cement : Khandwala Securities

    22nd May, 2008 14:05

    Khandwala Securities has maintained buy rating on Prism Cement with upside potential of 25%. The company is well placed to take advantage of the opportunities in t

  • Crude may touch $150/bbl: StanChart Bk 

    22nd May, 2008 13:59

    Avinash Raheja, Dir-Commodities of Standard Chartered Bank said that in the medium-term and long-term the supply remains tight for the market and the USD 150/bbl r

  • Crazy Re-listing: KGN Industries  

    22nd May, 2008 13:59

    KGN Industries relisted on May 21 after it was suspended from trading in 2001. It relisted on May 21,2008 after June 08, 2001. Promoters hold 49% stake in the comp

  • Havells India Q4 net profit up at Rs 39 cr

    22nd May, 2008 13:49

    Havells India has announced its fourth quarter results. The company's Q4 net profit up at Rs 39 crore from Rs 29 crore.

  • Money Market Operations

    22nd May, 2008 13:37

    Financial Markets Department. Money Market Operations.

  • Bajaj Holdings Q4 cons net profit at Rs 79.32 cr

    22nd May, 2008 13:32

    Bajaj Holdings has announced its Q4 and FY08 consolidated numbers. It has posted Q4 net sales of Rs 62.63 crore and net profit of Rs 79.32 crore.

  • Emkay stock picks for falling mkts 

    22nd May, 2008 13:30

    Ajay Parmar, Head-Ideas Research, Emkay said it is going to be specific stocks within a sector that can give better returns. He told CNBC-TV18 that investors shoul

  • A Parmar bullish on Satyam 

    22nd May, 2008 13:24

    Ajay Parmar, Head - Ideas Research, Emkay is bullish on Satyam.

  • Makaan.com launches ‘Makaan Mobile’

    22nd May, 2008 13:10

    Makaan.com, People Group’s online property site announced the launch of ‘Makaan Mobile’ – the country’s 1st pure SMS-based Real Estate Mobile Application.

  • Stay with Bank of India: Mohindar 

    22nd May, 2008 12:59

    Rahul Mohindar of Viratechindia is of the view that one should hold Bank of India. The next resistance which is on its way is likely to be one of its biggest hurdl

  • NIIT HiWEL gets 'Digital Opportunity Award' at WCIT 2008

    22nd May, 2008 12:50

    HiWEL -an initiative of NIIT, a leading Global Talent Development Corporation and IFC-has been conferred the coveted 'Digital Opportunity Award' for its path break

  • Harrisons Malyalam has target of Rs 140-145: Mohindar 

    22nd May, 2008 12:46

    Rahul Mohindar of Viratechindia is of the view that Harrisons Malyalam has target of Rs 140 or Rs 145. If one is already holding it, Rs 107 would be a stoploss.

  • Wind River-Intel to create open source platform

    22nd May, 2008 12:35

    Wind River Systems, Inc. (NASDAQ:WIND), the global leader in Device Software Optimization (DSO), today announced it is collaborating with Intel Corporation to crea

  • Buy Bank of Baroda, tgt Rs 450: Prabhudas Lilladher

    22nd May, 2008 12:34

    Prabhudas Lilladher has maintained its buy rating on Bank Of Baroda with a target price of Rs 450. BoB's Q4FY08 net profit grew by 12.5% YoY at Rs 2.8 billion whic

  • Suzlon Energy continues to slip

    22nd May, 2008 12:29

    Suzlon Energy has continued to down. At 12:20 pm, the share was quoting at Rs 297.80, down Rs 11.15, or 3.61%. It was trading with volumes of 617,843 shares. Yeste

  • Deliveries for May 2008 contract

    22nd May, 2008 12:22

    Deliveries for May 2008 contract. May contracts saw record deliveries to open interest ratio. Out of the 17 commodities delivered on the exchange, 16 commodities s

  • Rana Sugars advances 9%

    22nd May, 2008 12:19

    At 12:10 pm, Rana Sugars was quoting at Rs 17.70, up Rs 1.45, or 8.92%. The company has board meet to consider allotment of convertible warrants to promoters on pr

  • Experian Group revenue gwth of 18%

    22nd May, 2008 12:10

    Experian Group Limited Preliminary results for the year ended 31 March 2008. Total revenue growth of 18% at actual exchange rates to US$4.1bn

  • Hatsun Agro approves split, stk up 3.4%

    22nd May, 2008 12:00

    At 11:54 am, Hatsun Agro Products was quoting at Rs 510, up Rs 17.10, or 3.47%. The company board has approved splitting FV of shares from Rs 10 to Rs 2, reports C

  • Buy HDIL, tgt Rs 1186 : Emkay

    22nd May, 2008 11:56

    Emaky research has maintained buy rating on HDIL with target price of Rs 1186. We expect HDIL to generate 38 million sqft in form of TDR from the airport rehabilit

  • Buy Aban Offshore, target of Rs 5247: IndiaInfoline

    22nd May, 2008 11:51

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

  • Buy Bank of Baroda, tgt Rs 440: Emkay

    22nd May, 2008 11:49

    Emkay research ahs maintained buy rating on Bank of Baroda with target price of Rs 440. The NII remained subdued with a decline of 2%yoy to Rs9.9 billion (adjusted

  • Tata Comm's DDoS detection,mitigation protects infra

    22nd May, 2008 11:41

    DDoS Detection & Mitigation by Tata Communications protects India Infrastructure from Sophisticated and Methodical Cyber Attacks

  • Capgemini announces data conversion offerings

    22nd May, 2008 11:33

    Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, announced today an asset purchase agreement with Advantage Con

  • GoAir & Provogue sign marketing deal for brand promotion

    22nd May, 2008 11:26

    GoAir, India’s smart fare airline and Provogue have entered in an unique marketing alliance. According to the tie-up, all Provogue customers will be entitled to a

  • A Chakraborty negative on bank sector 

    22nd May, 2008 11:21

    Abhijit Chakraborty, VP - Institutional Equities, Edelweiss Capital is negative on bank sector.

  • Sugar division profitability to improve: Nava Bharat Ven

    22nd May, 2008 11:19

    The profitability of sugar division is expected to improve as the company commissions its expanded power plant, operations later in the year and given the expected

  • Expect tea prices to rise by yr-end: McLeod Russel 

    22nd May, 2008 11:12

    Tea prices have firmed up to Rs 80 per kg after hitting bottom of Rs 60 per kg and prices are expected to rise further by the end of the year, says Deepak Khaita

  • Above Rs 555 further upswing in Nalco: Bose 

    22nd May, 2008 11:05

    Technical Analyst, Rajat K Bose is of the view that if Nalco crosses Rs 555 then one will see further upswing happening. Otherwise some profit booking to happen an

  • BPCL among major losers

    22nd May, 2008 11:00

    BPCL is among major loser on the Nifty. At 10:58 am, the share was quoting at Rs 344, down Rs 13.1, or 3.67%. It was trading with volumes of 105,943 shares. Yester

  • PNB plunges nearly 4%

    22nd May, 2008 10:59

    At 10:50 am, Punjab National Bank, PNB was quoting at Rs 536.40, down Rs 21.85, or 3.91%. It was trading with volumes of 33,345 shares. Yesterday the share closed

  • Risk appetite may improve helping flow to India: Indasia 

    22nd May, 2008 10:58

    Pradip Shah, Chairman of Indasia Fund Advisors is seeing the first signs of recovery in the US. He said risk appetite may improve helping funds flow to India and C

  • IRCTC announces ngpay for purchasing rail tickets

    22nd May, 2008 10:53

    IRCTC announces ngpay as the leading mobile sales channel for purchasing rail tickets. With ngpay, customers can complete end-to-end transactions with their favori

  • $ may soften slightly after a strong run: Centrum Cap

    22nd May, 2008 10:49

    The USD may soften a bit after a strong run; however it is still over weight on technology under current circumstances, said R Amarnath, Head of Finance at Centrum

  • Refining coes likely to perform well: A Chakraborty 

    22nd May, 2008 10:34

    Abhijit Chakraborty, VP - Institutional Equities, Edelweiss Capital is of the view that within the oil and gas space the refining companies are going to perform ve

  • Govt lifts cement export ban from Nepal

    22nd May, 2008 10:26

    The government has eased cement export ban and will now allow selling it to Nepal, reports Newswire18. The Cement Companies can now sell cement to the SEZs (Deemed

  • Idea to sell minority stake in its subsidiary, stk slips

    22nd May, 2008 10:23

    At 10:14 am, Idea Cellular was quoting at Rs 110, down Rs 1.75, or 1.57%. The company is likely to sell minority stake in its subsidiary to foreign investor, quoti

  • Buy Dr Reddys Labs, target of Rs 850: Karvy

    22nd May, 2008 10:19

    Karvy Stock Broking has upgraded its rating on Dr Reddys Laboratories from market performer to buy with a revised price target of Rs 850. Dr. Reddy's Laboratories

  • KGN Ind to resume trading today, stk down

    22nd May, 2008 10:15

    KGN Industries has touched a 52-week low of Rs 4,955.49. At 10:03 am, the share was quoting at Rs 5,150, down Rs 66.3, or 1.27%. Trading in the stock is going to r

  • ONGC to sell 30-40% in Vietnam oil blocks, stk down

    22nd May, 2008 10:11

    At 10:01 am, ONGC was quoting at Rs 923.90, down Rs 14.8, or 1.58%. The company is looking to sell 30-40% in Vietnam oil blocks to share the risk and drilling cos

  • Re may break 43.50/$ if RBI doesn't intervene: StanChart 

    22nd May, 2008 09:53

    Sundeep Bhandari of StanChart Bank said that rupee could touch 43.50/$ in the near term if RBI does not intervene, reports CNBC-TV18. However rupee may recover

  • 5210 levels to be crucial for Nifty: Rajat K Bose 

    22nd May, 2008 09:50

    Rajat Bose of rajatkbose.com said that on the upside, after the 2150 and 5170 levels, 5210 would be a crucial level for Nifty. If one sees some volume-based trade

  • Nifty likely to test 5160-5180 levels: Angel

    22nd May, 2008 09:45

    According to Angel Broking Technical Analysis report, the coming trading session is expected to trade with a positive bias, once it trades above 5140 level. On the

  • Nifty may correct upto 5066: Angel

    22nd May, 2008 09:39

    According to Angel Broking Market Outlook report, if Nifty trades below 5101 for the first half-an-hour of trade then it may correct upto 5066.

  • Nifty has support at 5025-5000 levels: Karvy

    22nd May, 2008 09:33

    According to Karvy Stock Broking Technical Analysis report, World markets have ended on a highly negative note owing to Crude oil hovering around the USD 133 mark.

  • Sirpur Paper Mills Q4 net profit at Rs 3.76 cr

    22nd May, 2008 09:24

    Sirpur Paper Mills has announced its results for the quarter ended March 2008 (Q4). The company's Q4 net profit stood at Rs 3.76 crore versus Rs 4 crore.

  • Mumbai hotel industry hit by double whammy!

    22nd May, 2008 09:14

    It's a double whammy for the hotel industry in Mumbai. While Raj Thackeray's recent anti migrant tirade is keeping North Indians employees away, the hotel industr

  • Surya Roshni Q4 net profit at Rs 10.3 cr

    22nd May, 2008 09:11

    Surya Roshni has announced its results for the quarter ended March 2008 (Q4). The company's Q4 net profit stood at Rs 10.3 crore versus Rs 5.03 crore.

  • Holding firm challenging for mkts now; global cues crucial 

    22nd May, 2008 09:00

    The markets have been resilient and in a range. The green screen is not broken down yet. The global news flow has been bad. However, one wonders how long the marke

  • KGN Ind to resume trading today with applicable price band

    22nd May, 2008 09:00

    The Bombay Stock Exchange has said that trading in KGN Industries would resume trading today with the applicable price band. It is investigating placing of orders

  • Booz & Co to focus on EMs to grow biz

    22nd May, 2008 08:56

    Global consulting firm Booz Allen Hamilton split up, selling its US govt biz to PE firm, Carlyle Group in $2.5 bn deal. It's remaining global commercial busine

  • Avoid big ticket trades

    22nd May, 2008 08:52

    The outlook for the marketstoday is that of guarded optimism as the bulls are likely to attempt an upthrust. Should the overseas cues be conducive, some upsides ma

  • Equity calls: Raychaudhuri, Bhamre 

    22nd May, 2008 08:47

    The recent rally was due to a resumption of liquidity and in line Q4 results. Domestic inflation is likely to ease around July-August and market is likely to fall

  • Sylph Technologies to resume trading; no circuit filter

    22nd May, 2008 08:46

    The suspension in trading of equity shares of Sylph Technologies (BSE code - 511447) will be revoked w.e.f. Thursday, May 22, 2008. The trading in the securities

  • Airtel signs outsourcing deal with Firstsource

    22nd May, 2008 08:43

    Airtel signs outsourcing deal with Firstsource. Firstsource will provide a suite of BPO services covering both voice and back office in areas such as customer acco

  • Tata Motors sets up learning centre in Hyderabad

    22nd May, 2008 08:34

    The Passenger Car division of Tata Motors has launched Tata Motors Learning Centre (TMLC) in Hyderabad. The Centre will provide basic training in automobiles, requ

  • F&O cues: Futures Open Int up Rs 2232 cr

    22nd May, 2008 08:30

    F&O cues: Nifty Futures Open Int up by Rs 600 cr out of total futures buildup of Rs 2,232 cr. Futures Open Int up Rs 2,232 cr, Options Open Int up Rs 858 cr.

  • Infosys hires consultant to chalk out revamp plan

    22nd May, 2008 08:28

    The country’s second largest software exporter Infosys Technologies is exploring options to revamp its organisational structure and has hired a consultant for the

  • ArcelorMittal announces India leadership team

    22nd May, 2008 08:24

    ArcelorMittal has announced its senior leadership team for India.

  • Wall Street tumbles; Dow down 227 points

    22nd May, 2008 08:19

    US markets tumbled, posting their biggest losses in two weeks. The Federal Reserve signaled it is done cutting interest rates and record oil prices threatened to r

  • Lanco Infra set to restructure operations

    22nd May, 2008 08:16

    Lanco Infratech Ltd, the listed entity of the diversified Lanco group, is poised to restructure its operations along verticals by creating three sub-holding compan

  • Trinamool Congress may stall work at Singur plant

    22nd May, 2008 20:49

    The Trinamool Congress says it would stall work at Tata Motors' Singur plant from Sunday, reports CNBC-TV. The party won majority in Singur Panchayat polls on Wedn

  • Inflation to moderate in 8-10 weeks: PM

    22nd May, 2008 20:41

    Prime Minister Manmohan Singh said the country is likely to return to moderate inflation in 8-10 weeks, reports CNBC-TV18. "The global economic slowdown is posing

  • BPCL introduces quota system for fuel dealers: Srcs 

    22nd May, 2008 20:19

    Network18 has learnt that BPCL has introduced a quota system for fuel dealers. BPCL’s demand management system will work like this: smaller pumps, that sell less t

  • Bajaj to leverage further on XCD platform  

    22nd May, 2008 19:21

    According to Rajiv Bajaj, Bajaj Auto will leverage further on XCD platform & focus on 125 cc segment. “We intent on being true to our strategy to stay in 125 and a

  • HP won't be required to make offer for MphasiS: EDS

    22nd May, 2008 19:14

    EDS says HP will not be required to make a tender offer for MphasiS under Sebi (Substantial Acquisition of Shares & Takeovers) regulations, 1997.

  • NCDEX-Trade details for May 22, 2008

    22nd May, 2008 19:02

    NCDEX, 481 members (2,241 users) participated in trading on May 22, 2008 up to 5:00 pm and volumes were Rs 2,217 crore (one-way). There were more than 62,737 tra

  • Core Projects & Technologies PAT jump 153%

    22nd May, 2008 18:54

    Core Projects & Technologies Limited reports YOY consolidated PAT jumped 153% for FY2008 at Rs 84.48 crores from Rs 33.37 crores for the previous year and total in

  • Sensex to trade in 15k-17k range: Brics Securities 

    22nd May, 2008 18:46

    Nirav Sheth of Brics Securities expects the Sensex to trade rangebound between 15,000 and 17,000. " We believe the Sensex could evolve between 15,000 to about 17,0

  • Margins to be maintained despite rising input cost: Thermax 

    22nd May, 2008 18:40

    MS Unnikrishnan, MD, Thermax, said if orders in the market are going to be shrinking, then there will also be pressures on margins. "But we should be able to maint

  • GNFC reports PBT of Rs 576.21cr

    22nd May, 2008 18:30

    GNFC reports PBT of Rs 576.21 crores (Rs. 489.39 crores for 2006-07) (growth of 18% as compared to (-) 1% on consolidated basis last year).

  • UPA celebrates four-year rule 

    22nd May, 2008 18:24

    The UPA government turns four today and celebrations are already on. This years UPA dinner is politically very important because it comes under a threshold of gene

  • Rupee, bonds close lower

    22nd May, 2008 18:11

    The spot rupee ended lower at Rs 42.96 per USD as against its previous close of Rs 42.82.

  • Dr Reddy’s launches 'Omez Insta'

    22nd May, 2008 18:01

    Dr. Reddy’s Laboratories Ltd has launched Omez Insta (Omeprazole 20mg + Sodium bicarbonate 1680mg buffer) in India. It is an innovative powder formulation that off

  • KLG Systel bags orders worth Rs 50cr 

    22nd May, 2008 17:52

    KLG Systel has won a big order. Kumud Goel, Managing Director, KLG Systel said that the company have won orders from Haryana and Rajasthan state governments, total

  • Mkt environment looking difficult near-term: Credit Suisse

    22nd May, 2008 17:27

    Mihir Doshi, Country Head of Credit Suisse India, said the macroeconomic situation did pose some concerns right now. He added that high oil prices and high inflati

  • Bajaj Holdings & Invst income from operations at Rs 3553mn

    22nd May, 2008 17:08

    Bajaj Holdings & Investment's income from operations at Rs 3553mn

  • RBI Reference Rate for US $ & Euro

    22nd May, 2008 17:00

    RBI Reference Rate for US $ & Euro. The Reserve Bank of India’s Reference Rate for the US dollar is Rs.42.72 and the Reference Rate for Euro is Rs.66.90 on May

  • See India, China losing sheen in BRIC mkts: PDM 

    22nd May, 2008 16:57

    Slim Feriani, CIO, Progressive Development Markets said that there has been a bit of a shift in terms of the BRIC story where last year India and China were the ma

  • Buy technology stocks on declines: Gujral 

    22nd May, 2008 16:49

    Technical Analyst, Ashwani Gujral is of the view that on all declines technology becomes a good buy. Polaris could easily be headed towards Rs 128-130, one should

  • 364 day Treasury Bills: Auction Result

    22nd May, 2008 16:43

    364 day Treasury Bills: Auction Result. Date of Auction: May 21, 2008.

  • Bajaj Auto's PBT at Rs 11.35bn

    22nd May, 2008 16:34

    Profit before tax Rs 11.35 billion. Net Profit after tax Rs 7.56 billion. Operating EBITDA- Rs 12.94 billion. Operating EBITDA margin- 14.3%.

  • CRISIL assigns IPO grade 5/5 to MCX

    22nd May, 2008 16:29

    CRISIL has come out with a research report on Multi- Commodity Exchange of India's IPO. It has assigned a CRISIL IPO Grade 5/5 to the company's IPO. The company pr

  • CRISIL assigns grade 5/5 to IPO of MCX

    22nd May, 2008 16:25

    CRISIL has assigned a CRISIL IPO Grade "5/5" (pronounced "five on five") to the proposed initial public offer of Multi-Commodity Exchange of India Ltd. (MCX). This

  • Havells India debt stood at Rs 1296 cr

    22nd May, 2008 16:20

    Havells India has announced its fourth quarter results. The company's Q4 net profit up at Rs 39 crore from Rs 29 crore.

  • Orange & Nokia to form int'l partnership on mobile srvcs

    22nd May, 2008 16:14

    Orange and Nokia today announced a strategic international partnership, extending the first agreement signed by the two companies in February 2008.

  • Cummins standalone net profit was up at Rs 75.6 cr

    22nd May, 2008 16:02

    Cummins India has announced its FY08 results. The company's consolidated net profit was up at Rs 324.9 crore from Rs 267.9 crore, YoY. Its consolidated net sales w

  • ACE an outperformer: Prabhudas Lilladher

    22nd May, 2008 15:59

    Prabhudas Lilladher has maintained an outperformer rating on Action Construction Equipment with a target price of Rs 114. ACE reported a topline of Rs 1.2 billion,

  • Airtel introduces HTC Touch Diamond

    22nd May, 2008 15:54

    HTC Corp., a global leader in mobile phone innovation and design, and Bharti Airtel, India’s leading telecommunication services provider, announced a strategic all

  • Cummins India FY08 cons net profit up at Rs 324.9 cr

    22nd May, 2008 15:33

    Cummins India has announced its FY08 results. The company's consolidated net profit was up at Rs 324.9 crore from Rs 267.9 crore, YoY.

  • SAC PCG & Lehman Brothers to invest in Cbaysystems Holdings

    22nd May, 2008 15:27

    CBaySystems Holdings Ltd., a holding company with a portfolio of investments in medical transcription, healthcare technology and healthcare financial services, ann

  • Hindustan Zinc trips on selling pressure

    22nd May, 2008 15:20

    Hindustan Zinc has slipped today. At 3:11 pm, the share was quoting at Rs 719.50, down Rs 32.5, or 4.32%. It was trading with volumes of 93,348 shares. Yesterday t

  • Bharat Forge an underperformer: Prabhudas Lilladher

    22nd May, 2008 15:15

    Prabhudas Lilladher has maintained its underperformer rating on Bharat Forge. Bharat Forge reported a 12% topline growth to Rs 5.8 billion backed by a 23% growth i

  • Nissan announces plan for LCV Leadership

    22nd May, 2008 15:07

    The light commercial vehicle (LCV) business will continue to be a breakthrough driver of growth during the Nissan GT 2012 mid term business plan, announced on May

  • Tips to play oil marketing cos now 

    22nd May, 2008 15:04

    Varatharajan of SSKI observes that unless the government comes forward with help, oil marketing companies are in serious trouble. He sees significant value in stan

  • Tata Chemicals slips on profit booking

    22nd May, 2008 14:58

    At 2:49 pm, Tata Chemicals was quoting at Rs 379, down Rs 19.6, or 4.92%. It has touched an intraday high of Rs 396 and an intraday low of Rs 376. It was trading w

  • 24x7guru.com NASA Knowledge Challenge winners go to NASA

    22nd May, 2008 14:54

    It was a moment of cheer and celebration for the ten students who were the proud winners of “Destination NASA” Knowledge Challenge organised by www.24x7guru.com

  • Accumulate Dr Reddys Labs, target of Rs 755: Angel

    22nd May, 2008 14:44

    Angel Broking has maintained its accumulate rating on Dr Reddys Laboratories with an 18-month target price of Rs 755. For FY2008, DRL posted a de-growth of 23.9% i

  • Unwinding happening in the momentum stocks 

    22nd May, 2008 14:38

    We can see there fresh shorts which has opened up GMR Infra where we have seen addition of nearly of 11 lakh shares and also for stocks like HUL, IDFC, ITC and Suz

  • Apar Industries gains 16%

    22nd May, 2008 14:34

    At 2:24 pm, Apar Industries was quoting at Rs 243.15, up Rs 33.45, or 15.95%. It was trading with volumes of 36,987 shares. Yesterday the share closed down 2.58% o

  • Praj Industries bags order, stk down

    22nd May, 2008 14:29

    At 2:20 pm, Praj Industries was quoting at Rs 215.40, down Rs 2.4, or 1.1%. The company has bagged order worth Rs 120 crore for Bio-ethanol plant in Europe, report

  • Buy Yes Bank : Khandwala Securities

    22nd May, 2008 14:13

    Khandwala Securities has maintained buy rating on Yes Bank. Corporate & Institutional banking advances constitute 54% of the Bank’s total advances

  • Keep stoploss of Rs 370 in Videocon Ind: Mohindar 

    22nd May, 2008 14:04

    Rahul Mohindar of Viratechindia is of the view that one should keep a stoploss of Rs 370 in Videocon Industries if one is holding on to this medium to long term. B

  • Buy Gujarat State Petronet: Khandwala

    22nd May, 2008 13:59

    Khandwala Securities has maintained buy rating on Gujarat State Petronet with target price of Rs 85. The transmission pipelines are set to be utilized much more ef

  • Underwriting auctions for 8.24% Govt Stk 2018

    22nd May, 2008 13:52

    Underwriting auctions for “8.24 percent Government Stock 2018” and for “8.28 percent Government Stock 2032”. The underwriting auctions for both the securities will

  • Oil Min may consider fuel price hike on rising crude 

    22nd May, 2008 13:43

    Oil Min will discuss a new oil bond formula for this fiscal next week, reports NewsWire18. The ministry said that govt is working on steps to save oil PSUs. The mi

  • Duncans Industries continues to rise

    22nd May, 2008 13:32

    Duncans Industries has continued to gain. At 1:23 pm, the share was quoting at Rs 16.40, up Rs 1.97, or 13.65%. It was trading with volumes of 1,118,159 shares. Ye

  • May ease rice export ban case by case: Trade Secy

    22nd May, 2008 13:32

    The Trade Secretary has said that they may consider easing the rice export ban case by case. However, he said that there is no plan to completely lift export ban o

  • Manali Petrochemicals up on large volumes

    22nd May, 2008 13:28

    Manali Petrochemicals was trading with volumes of 7,164,822 shares. At 1:18 pm, the share was quoting at Rs 18.62, up Rs 1, or 5.68%. Yesterday the share closed up

  • Liquidity Adjustment Facility: Auction Results

    22nd May, 2008 13:12

    Liquidity Adjustment Facility: Auction Results. The results of the RBI Repo/Reverse Repo auctions held on May 21, 2008.

  • IDFC loses further ground

    22nd May, 2008 13:02

    At 12:52 pm, IDFC was quoting at Rs 155.45, down Rs 7.5, or 4.6%. It was trading with volumes of 814,147 shares. Yesterday the share closed down 1.72% or Rs 2.85 a

  • Satyam & GE to provide healthcare IT services

    22nd May, 2008 12:52

    GE & Satyam announce global alliance to provide healthcare IT services. The companies will join forces to plan, design, and implement infrastructures for global he

  • Networth neutral an Dr Reddy

    22nd May, 2008 12:47

    Networth has maintained neutral rating on Dr Reddy. AT CMP the stock is trading at 17.78x its consensus EPS of Rs 37 for FY2009E and 15.30x its consensus EPS of Rs

  • Hold Bank Of India, says A Madan 

    22nd May, 2008 12:45

    Ashu Madan, National Head of Religare is of the view that one can hold Bank Of India and even one can buy it on dips. It is one of the only PSU banks, which has po

  • Indiabulls Real Estate tumbles 3.4%

    22nd May, 2008 12:35

    At 12:26 pm, Indiabulls Real Estate was quoting at Rs 512.60, down Rs 18.1, or 3.41%. It was trading with volumes of 157,647 shares. Yesterday the share closed up

  • GV Films puts on a good show

    22nd May, 2008 12:32

    At 12:23 pm, GV Films was quoting at Rs 5.29, up Rs 0.39, or 7.96%. It was trading with volumes of 5,859,155 shares. Yesterday the share closed up at Rs 4.90.

  • Akruti City an outperformer: Prabhudas Lilladher

    22nd May, 2008 12:22

    Prabhudas Lilladher has maintained its outperformer rating on Akruti City with a target price of Rs 1500. Akruti City has a product portfolio of 39 projects and a

  • Expect EBIDTA margin growth at 12% in 2 yrs: Lloyd Electric

    22nd May, 2008 12:20

    Lloyd Electric has acquired Luvata former operation in Prague, Czech Republic. This acquisition makes Lloyd first coils manufacturing company in Europe. Luvata hol

  • M&M signs non-binding pact for Kinetic Motors, stk slips

    22nd May, 2008 12:13

    At 12:02 pm, M&M was quoting at Rs 653, down Rs 14, or 2.1%. The company has signed non-binding pact for Kinetic Motors, quoting ET. It was trading with volumes

  • Accumulate Tech Mahindra, target of Rs 966: Angel

    22nd May, 2008 12:07

    Angel Broking has downgraded its rating on Tech Mahindra from buy to accumulate with a revised target price of Rs 966. During 4QFY2008, Tech Mahindra recorded a de

  • Senior executives see jump in anti-corruption enforcement

    22nd May, 2008 11:59

    Anti-corruption enforcement has become stronger around the globe over the past five years, according to nearly 70% of respondents to a new survey of business leade

  • Firstsource & Airtel announce 3 yr outsourcing partnership

    22nd May, 2008 11:51

    Firstsource Solutions (NSE: FSL), a leading global BPO services provider and Bharti Airtel, India's largest private telecom services provider, today announced that

  • XL Telecom short-list 2 Spanish firm, stk up

    22nd May, 2008 11:50

    At 11:40 am, XL Telecom was quoting at Rs 265.30, up Rs 4, or 1.53%. The buying interest in the stock may be due to the reports in DNA that the company has short-l

  • Tata Motors slips 4.1%

    22nd May, 2008 11:44

    At 11:35 am, Tata Motors was quoting at Rs 660, down Rs 28.85, or 4.19%. The company has board meet on May 28 to consider raising long-term funds, reports CNBC-TV1

  • Banking stocks likely to remain under pressure: V Kapoor 

    22nd May, 2008 11:38

    Vibhav Kapoor of IL&FS Investmart feels that banking stocks likely to remain under pressure. Bank stocks are going to stay suppressed because with the inflation th

  • Brokers bullish on KS Oils, Aban Offshore, Thermax

    22nd May, 2008 11:31

    Brokerage houses are bullish on KS Oils, Aban Offshore, Thermax, HDIL and Akruti City.

  • Gammon Infra sees revenues triple by FY11

    22nd May, 2008 11:25

    Gammon Infra Projects has declared its consolidated results for FY08. The company's FY08 consolidated net profit stood at Rs 18.6 crore versus Rs 27.5 crore. Perve

  • Stock price Rs 3 as per EPS: Sylph Tech 

    22nd May, 2008 11:20

    Sylph Tech has re-listed at Rs 152. The last traded price before re-listing was 80 paise. Rajesh Jain, Director of Sylph Technologies said that on the net worth ba

  • A Chakraborty positive on IT space 

    22nd May, 2008 11:15

    Abhijit Chakraborty, VP - Institutional Equities, Edelweiss Capital is positive on IT space. From a short-term perspective as long as the rupee continues to apprec

  • No open offer as HP-EDS is merger not buy: Barings Pvt 

    22nd May, 2008 11:09

    Rahul Bhasin, Managing Partner, Baring Private Equity Partners said there is no open offer as Hewlett Packard - Electronic Data Systems deal is a merger not an acq

  • Religare Finvest appoints Kavi Arora as President-Con Fin

    22nd May, 2008 11:04

    Religare Finvest appoints Kavi Arora as President - Consumer Finance. Kavi brings with him over 14 years of strong experience in the Financial Services Industry ac

  • Cairn India has target of Rs 343-347: Bose 

    22nd May, 2008 11:00

    Technical Analyst, Rajat K Bose is of the view that Cairn India has target of Rs 343-347. It fell from there, some profit booking happened and then again there was

  • Indian GDRs: ICICI Bank dn 4.8%, M&M up 3.7%

    22nd May, 2008 10:58

    Indian GDRs: ICICI Bank, GAIL, Infosys, Satyam, SBI, Tata Motors and Tata Communications lost ground while Dr Reddy's Labs, Grasim, ITC, L&T, M&M, Ranbaxy and Reli

  • Reliance Infrastructure top loser on Sensex

    22nd May, 2008 10:56

    Reliance Infrastructure is the top loser on the Sensex. At 10:47 am, the share was quoting at Rs 1,324.95, down Rs 52.75, or 3.83%. It was trading with volumes of

  • NSE F&O OI up Rs 906 cr at Rs 78699 cr

    22nd May, 2008 10:50

    NSE F&O Open Interest was up Rs 906 crore at Rs 78699 crore. Futures Open Interest was up Rs 746 crore, Options Open Interest was up Rs 159 crore. Nifty Futures OI

  • Prefer Jayshree Tea, McLeod Russel: Bose 

    22nd May, 2008 10:43

    Technical Analyst, Rajat K Bose is of the view that in tea space on can go for Jayshree Tea or McLeod Russel because they have the best liquidity.

  • Softbpo Global approves 40:1 rights issue, stk up 5%

    22nd May, 2008 10:27

    Softbpo Global Services has touched a 52-week high of Rs 264.60. At 10:16 am, the share was quoting at Rs 264.60, up Rs 12.60, or 5%. The company board has approve

  • Markets amy decline today mirroring global cues

    22nd May, 2008 10:24

    Most European markets declined further last night, and the US indices also were down sharply. Asian markets are also down sharply this morning, and the global shor

  • Wall Street declines further 

    22nd May, 2008 10:21

    The oil records just keep falling and prices continue to rise at an unrelenting pace, spurting up second day of losses on Wall Street on Wednesday. Stocks extendin

  • Avoid big ticket trades for now

    22nd May, 2008 10:15

    The outlook for the markets on Thursday is that of guarded optimism as the bulls are likely to attempt an upthrust. Should the overseas cues be conducive, some ups

  • Support for the Sensex is at 17022

    22nd May, 2008 10:11

    The support for the Sensex is at 17022 and the resistance to the up move at 17480-17676

  • Gammon Infra FY08 cons net profit at Rs 18.6 cr

    22nd May, 2008 09:58

    Gammon Infrastructure Projects has declared its consolidated results for FY08. The company's FY08 consolidated net profit stood at Rs 18.6 crore versus Rs 27.5 cro

  • Expect markets to be sideways today: Hem

    22nd May, 2008 09:50

    According to Hem Securities' Morning Note, Hem expects markets to be sideways today.

  • Tea stocks extremely trading oriented 

    22nd May, 2008 09:47

    Tea prices have gone up and there is such a lot of interest in playing commodities right now particularly the non-metal commodities in the world. So people are lat

  • HDIL looking for buy out in Entertainment sector

    22nd May, 2008 09:43

    HDIL has announced its FY08 and fourth quarter results. The company's Q4 standalone net profit at Rs 708 crore versus Rs 270 crore. Its standalone net sales were a

  • At last leg of commodity rally; worst behind us: Edelweiss 

    22nd May, 2008 09:36

    Abhijit Chakraborty of Edelweiss Capital said though he can't comment on the market movement in the near-term, he sees markets giving a message that there is a ris

  • Sensex ends below 17K; banks, realty, cap goods stks crash

    22nd May, 2008 09:30

    It was a weak session for the markets, which remained languish at lower levels through the day and have not shown any signs of recovery. Banking, capital goods, re

  • Gabriel India Q4 net profit at Rs 2.05 cr

    22nd May, 2008 09:17

    Gabriel India has declared its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was at Rs 2.05 crore versus Rs 2.23 crore.

  • FICCI asks for export duty withdrawal on steel

    22nd May, 2008 09:12

    Industry body FICCI (Federation of Indian Chambers of Commerce and Industry) is knocking on the doors of the Finance Minister on behalf of the steel sector.

  • Buy MCX May Crude at Rs 5630

    22nd May, 2008 09:04

    I am bullish on crude. Buy MCX May crude at Rs 5630 with a stoploss of Rs 5566 and target of Rs 5750, says Vakil.

  • Rupee opens at Rs 43 per dollar

    22nd May, 2008 09:00

    The Indian Rupee opened at Rs 43 per dollar versus Rs 42.82 yesterday.

  • Money calls: Prabhu, Pawar

    22nd May, 2008 09:00

    Liquidity in the bond market has improved but concerns about inflation remain. I expect the 10-year yield to be in the range of 7.98- 8%, says Prabhu.

  • Gemini Comm Q4 net profit at Rs 6.76 cr

    22nd May, 2008 08:54

    Gemini Communications has declared its standalone results for the quarter ended March 2008 (Q4). The company's standalone Q4 net profit stood at Rs 6.76 crore vers

  • High oil prices weaken Asian mkts: Subhodh Kumar  

    22nd May, 2008 08:50

    Speaking to CNBC-TV18 Subodh kumar, Chief investment strategist at Subodh kumar & associates says that it is true that Asian markets are down on back of weak Wall

  • Foreign FI may buy stake in Idea subsidiary: Sources

    22nd May, 2008 08:46

    Idea Cellular is set to place equity with a foreign financial investor, reports CNBC-TV18. An FFI will pick up a very marginal stake in one of the company's subsid

  • Support for Nifty at 5100

    22nd May, 2008 08:44

    The support for the Nifty is at 5100 and resistance to the up move at 5205-5252-5398.

  • Stocks in news: Cummins, Idea, M&M

    22nd May, 2008 08:40

    Stocks in news: Cummins India has results today. Idea is likely to sell minority stake in its subsidiary to foreign investor. M&M has signned non-binding pact for

  • Fund Action witnessed in stocks on 21st May

    22nd May, 2008 08:33

    On May 21, fund action was witnessed in Adlabs Films, Maxwell Industries, Elpro International and Nakoda Textile.

  • BSNL awards $90-m contract to Motorola

    22nd May, 2008 08:29

    In a bid to stay out of controversies, State-owned Bharat Sanchar Nigam Ltd has diluted its procurement norms and will allow non-profit making equipment makers to

  • Market cues: FIIs net sell $79.3 mn

    22nd May, 2008 08:28

    Market cues: FIIs net sell $79.3 mn. MFs net sell Rs 490 cr in equity on May 20.

  • Indian ADRs: HDFC Bk slips 5.2%, ICICI Bk down 4.7%

    22nd May, 2008 08:22

    Indian ADRs: HDFC Bank, ICICI Bank, Wipro, Patni, Tata Motors, Tata Comm and MTNL slipped.

  • Asian markets end lower

    22nd May, 2008 08:17

    Asian markets ended lower. Shanghai Composite fell 1.65% or 58.556 points at 3,485.63. Hang Seng slipped 1.64% or 417.17 points at 25,043.12. However Nikkei 225 Av

  • MF NAVs end higher

    22nd May, 2008 00:56

    Equity diversified NAVs ended on a strong note with negative advance:decline ratio of 194:25 as the markets closed the day with modest gain amid mild volatility, a

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