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Moneycontrol News Archive : 26 May, 2008

  • Builders woo home buyers with EMI holiday schemes  

    26th May, 2008 20:12

    Now, if you want to buy a house but do not have the money right now, don’t worry! Falling property sales in regions like Delhi and NCR have pushed many developers

  • MNCs see opportunity to make big bucks on diabetes drugs 

    26th May, 2008 18:54

    Rising urban lifestyle and resultant stress has given India the dubious distinction of being called the diabetic capital of the world. Multinational companies are

  • Reliance & UNAIDS launching an partnership for AIDS

    26th May, 2008 18:29

    Reliance Industries Limited (RIL), India’s largest private sector company, and UNAIDS, the Joint United Nations Programme on HIV/AIDS, are launching an innovative

  • Bafna Pharmaceuticals IPO to open for subscription

    26th May, 2008 18:15

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

  • UBS Sec sees Sensex at 19,600 by Dec-end 

    26th May, 2008 18:08

    Manishi Raychaudhuri, ED, UBS Securities, sees the Sensex trading at 19,600 by year-end. "The market is likely to trade at 16.1 times forward earnings. However, we

  • eClerx’s Q4FY08 revenue stood at Rs 40.95cr

    26th May, 2008 17:55

    eClerx’s Q4FY08 Revenue for the twelve months ended March 31, 2008 was Rs 128.32 crore vs Rs 86.2 crore in FY 07, YoY growth of 49%. In USD operating revenue grew

  • Bajaj Auto demerger results in value erosion

    26th May, 2008 17:41

    After the scheme of arrangement, Bajaj Auto has not become a wealth creator for its shareholders; it has resulted in value erosion. Bajaj Auto and Bajaj Finserv go

  • TCS wins 5 year engagement with NXP Semiconductors

    26th May, 2008 17:35

    Tata Consultancy Services announced a five year contract to deliver end-to-end global IT applications services to NXP Semiconductors B.V,. The contract is worth &#

  • WD announces WD Velociraptor™

    26th May, 2008 17:25

    WD announced that it is now shipping WD VelociRaptor™ hard drives, the next generation of its 10,000 RPM SATA “Raptor” series of drives.

  • SBI Card voted as India’s most trusted brand

    26th May, 2008 17:14

    SBI Card, a joint venture between State Bank of India and GE Money, and one of the largest Credit Card issuers in the country with over 3.2 million credit card hol

  • Everest Kanto FY08 sales up by 25% at Rs 528.74cr

    26th May, 2008 17:04

    Everest Kanto FY08 Sales up by 25 % at Rs. 528.74 cr. Net profit rises 45% to Rs 104.27 cr. The earning per share (full diluted) as on March 31, 2008 stood at Rs 1

  • Vodafone launches Chhota Credit for prepaid subscribers

    26th May, 2008 16:54

    Vodafone Essar, one of India’s leading cellular service providers, today launched a product called Chhota Credit for its prepaid subscribers. Subscribers can now g

  • Stocks to watch: Bk of Rajasthan, Bajaj Electrical 

    26th May, 2008 16:45

    Hitesh Agarwal of Angel Broking said that he is bullish on Aegis Logistics as it has planned out ambitious plans in terms of expanding business. On Bajaj Electical

  • IBM opens new Global Delivery Center in Pune

    26th May, 2008 16:37

    IBM inaugurated a new Global Delivery Center in Pune to provide clients worldwide with business consulting and application services. This is IBM Global Business Se

  • Fuel price hike unlikely this week: Oil Secy

    26th May, 2008 16:27

    Oil Secretary MS Srinivasan said the decision on auto fuel price hike is unlikely to be announced this week, reports CNBC-TV18 quoting Newswire 18. According to hi

  • Capacity to double to 18k tonne in FY09: Ess Dee 

    26th May, 2008 16:23

    Ess Dee Aluminium’s Q4 net sales stood at Rs 100.7 crore as against Rs 70.75 crore in the previous year. The net profit was recorded at Rs 24.3 crore as against Rs

  • Geojit Financial to shutdown commodity biz 

    26th May, 2008 16:10

    Geojit Financial plans to shutdown its commodity business, reports CNBC-TV18. The business is to be closed to get the Reserve Bank of India's nod for BNP Paribas o

  • PTT Polymer Logistic selects Four Soft’s 4S eTrans

    26th May, 2008 16:04

    Four Soft Limited announced that it has been chosen by PTT Polymer Logistics Co. Ltd., a company of PTT Group, Bangkok, to deploy its transportation application -

  • Elecon Engg expects Rs 100cr windmill biz turnover in ’08 

    26th May, 2008 15:55

    Prayasvin Patel, CMD, Elecon Engineering said the unexecuted order book as of March 2008 was Rs 1,085 crore and material handling was at Rs 202 crore. He added tha

  • Bajaj Hindusthan may slip to Rs 180: Gujral

    26th May, 2008 15:53

    Technical Analyst, Ashwani Gujral is of the view that Bajaj Hind may slip to Rs 180. Sugar space seem to have broken down, they were trying to claw back with crude

  • Reliance Globalcom acquires 100% in Vanco 

    26th May, 2008 15:39

    Reliance Communications’ subsidiary Reliance Globalcom has acquired UK-based virtual network operator, Vanco, for about USD 77 million. Reliance says the acquisiti

  • Air Arabia to introduce service to Dhaka

    26th May, 2008 15:21

    Air Arabia, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, has announced that it will launch service to Dhaka, Bangladesh, begin

  • Infosys top gainer on the Sensex

    26th May, 2008 15:10

    Infosys Technologies is the top gainer on the Sensex. At 3:01 pm, the share was quoting at Rs 1,881.30, up Rs 54.90, or 3.01%. It was trading with volumes of 412,4

  • Fortune wins Reader’s Digest Trusted Brand award

    26th May, 2008 15:05

    Adani Wilmar’s Fortune range of edible oil was today presented with the prestigious Reader’s Digest Trusted Brand Award for the third consecutive year. The award i

  • Kingston invites to experience true memory Tour at Computex

    26th May, 2008 14:54

    Computex Taipei, the world's leading ICT tradeshow, will be held from June 3-7, 2008 in Taiwan. Kingston Technology Company, Inc., the independent world leader in

  • SBI hikes 3-5 yr deposit rates by 35 bps to 8.85% 

    26th May, 2008 14:49

    TheState Bank of India, or SBI, has raised deposit rates for 3-5 year deposits by 35 basis points to 8.85%. It has also raised 5-10 year deposits by 50 basis poin

  • SBI revises interest rates on Domestic Term Deposits

    26th May, 2008 14:45

    State Bank of India has decided to revise interest rates on Domestic Term Deposits with effect from 1st June 2008

  • Expect 40% upside in Aegis Logistics: H Agarwal 

    26th May, 2008 14:36

    Hitesh Agarwal of Angel Broking is of the view that one can expect 40% upside in Aegis Logistics. It is a total supply chain service management provider to the Ind

  • Spice Communications can test Rs 52: Vasudeo 

    26th May, 2008 14:28

    Technical Analyst, Hitendra Vasudeo is of the view that Spice Communications can test Rs 52 and if the momentum supports then it can get extended to Rs 62. If one

  • Ten-year paper an excellent buy 8.10-8.15: DSP ML 

    26th May, 2008 14:23

    Dhawal Dalal, Fund Manager at DSP ML said market participants are waiting for the evolution of further impact on inflation and revision of fuel prices. He adds tha

  • OPMs to improve in FY09: Repro India 

    26th May, 2008 14:11

    Mukesh Dhruv, CFO, Repro India, said topline, operating margins and PAT have improved. He told CNBC-TV18 that in the current year, the operating margins will impr

  • Balaji Telefilms an underperfomer: Prabhudas Lilladher

    26th May, 2008 14:07

    Prabhudas Lilladher has maintained its underperformer rating on Balaji Telefilms with a target price of Rs 170. BTL’s Q4FY08 results positively surprised research

  • Hind Dorr bags order, stk up 3%

    26th May, 2008 13:56

    At 1:45 pm, Hindustan Dorr-Oliver was quoting at Rs 114.15, up Rs 3.35, or 3.02%. The compnay has bagged order worth Rs 250 crore from Vedanta Aluminium, reports C

  • Meghmani declares 30% dividend for 2007-08

    26th May, 2008 13:32

    Meghmani declares 30% dividend for 2007-08. The company, which is also listed on the Singapore Stock Exchange, recorded net sales income of Rs 593.24 crores for th

  • Ashok Leyland & Nissan sign 3 LCV JVs

    26th May, 2008 13:23

    Hinduja Group flagship Ashok Leyland and Nissan Motor Co., Ltd., today announced the legal formation of the three JV companies for the Light Commercial Vehicle bus

  • Bartronics' RFID to transform patient medication in US

    26th May, 2008 13:13

    In a path-breaking initiative that could revolutionize the health care system, Bartronics America Inc., a wholly owned subsidiary of Bartronics India Limited, has

  • GVK BIO enters into drug discovery pact with Wyeth Pharma

    26th May, 2008 12:59

    GVK BIO announced that it has entered into a research agreement with Wyeth Pharmaceuticals, a division of Wyeth, to discover drug candidates focused on pre-defined

  • Expect crude to drop to $110/bbl by year-end: Macquarie 

    26th May, 2008 12:54

    Bill Belchere, Asia Economist at Macquarie said that they still are holding to the point that oil prices will drop back down below USD 110/bbl and an average below

  • Triveni Engineering loses its sweetness

    26th May, 2008 12:50

    At 12:41 pm, Triveni Engineering was quoting at Rs 114.30, down Rs 4.5, or 3.79%. It has touched an intraday high of Rs 118.80 and an intraday low of Rs 113.40. It

  • M&M Group's Arun Nanda felicitated by ICSI-WIRC

    26th May, 2008 12:50

    The Institute of Company Secretaries of India-Western India Regional Council jointly with ICSI - Centre for Corporate Research and Training organized a Full Day Se

  • Buy Gayatri Projects, tgt Rs 613: India Capital Markets

    26th May, 2008 12:45

    India Capital Markets has recommended a buy rating on Gayatri Projects with 12 months target price of Rs 613. As on March 2008, GPL's order book stood at Rs 31 bil

  • Reliance Infrastructure loses further ground

    26th May, 2008 12:43

    At 12:35 pm, Reliance Infrastructure was quoting at Rs 1,240.40, down Rs 50.6, or 3.92%. It was trading with volumes of 155,680 shares. On Friday the share closed

  • 46 Visionary Leaders for Indian Mfg heading to Japan

    26th May, 2008 12:34

    The 1st batch of the Visionary Leaders for Manufacturing Programme being implemented in India by Confederation of Indian Industry will arrive in Japan on May 25,

  • BigFlix launches its maiden media campaign

    26th May, 2008 12:24

    BigFlix announced its multi layered mass media campaign titled ‘Ab Aam Zindagi Ban Jaye Filmy’ for its movie rental business, targeted at domestic Indian market. T

  • Buy Balaji Telefilms, target of Rs 275: Angel

    26th May, 2008 12:20

    Angel Broking has maintained its buy rating on Balaji Telefilms with a target price of Rs 275. Balaji Telefilms reported a smart 24.7% yoy growth in net sales to R

  • Eurotech Technologies launches LCD KVM switches in India

    26th May, 2008 12:15

    Eurotech Technologies, the Bangalore based leading technology distribution company, announced the launch of 8 port and 16 port BestNet LCD KVM switches in India.

  • Bharti stock to recover post MTN fallout: Experts 

    26th May, 2008 12:10

    Bharti Airtel has pulled out of the MTN deal citing too many movements from the latter's side. Telecom trackers from JP Morgan and Macquarie Research believe with

  • Expect 20-25% bottomline growth for FY09: TCI 

    26th May, 2008 11:58

    Vineet Aggarwal, ED, TCI said margins were affected by dry docking of ships. He told CNBC-TV18 that TCI expects 20-25% growth in bottomline and topline for FY09.

  • Buy ITC, target of Rs 258: IndiaInfoline

    26th May, 2008 11:50

    IndiaInfoline has maintained its buy rating on ITC with a target price of Rs 258. ITC recorded 14.7% yoy growth in revenues at Rs 139.5 billion slightly below rese

  • IndusInd Bank plans GDR issue, stk down 3%

    26th May, 2008 11:34

    At 11:24 am, IndusInd Bank was quoting at Rs 81.25, down Rs 2.6, or 3.1%. The company is planning for GDR issue in first quarter of FY09, quoting Financial Express

  • Geojit Fin to shutdown commodity biz, stk up

    26th May, 2008 11:30

    At 11:21 am, Geojit Financial was quoting at Rs 58.45, up Rs 1.10, or 1.92%. The company is going to shutdown its commodity business to get RBI nod for BNP Pariba

  • Underlying fiscal pressure understated: YV Reddy 

    26th May, 2008 11:25

    YV Reddy is of the view that Fiscal Gap takes away half of the household savings. According to him, reduction of CRR, SLR will be dependent on the Fiscal. The unde

  • See retest of Jan lows: Ramesh Damani

    26th May, 2008 11:21

    Ramesh Damani, Member, BSE, said the markets are likely to re-test January lows again. "We don't see any great value bargains in the market currently. The Sensex i

  • Motilal Oswal neutral on Cairn India

    26th May, 2008 11:19

    Motilal Oswal has downgraded its rating on Cairn India from buy to neutral with a traget price of Rs 279. Cairn India’s stock price has seen a strong rally in rece

  • Adlabs Films witnessing selling pressure

    26th May, 2008 11:09

    At 11 am, Adlabs Films was quoting at Rs 646.85, down Rs 29.1, or 4.31%. It has touched an intraday high of Rs 665 and an intraday low of Rs 645. It was trading wi

  • Gremach Infra tumbles 4%

    26th May, 2008 11:00

    At 10:56 am, Gremach Infrastructure Equipments and Projects was quoting at Rs 147.45, down Rs 6.25, or 4.07%. The company board has approved issue of 1.5 crore con

  • Brokers bullish on Sterlite Tech, IOC, Idea

    26th May, 2008 10:51

    Brokerage houses are bullish on Sterlite Tech, Ansal Infra, IOC, Idea and Everest Kanto Cylinder.

  • Tech Mahindra an outperformer: Karvy

    26th May, 2008 10:48

    Karvy Stock Broking has maintained its outperformer rating on Tech Mahindra with a target price of Rs 920. For Q4FY08, Tech Mahindra (TM) reported a revenue growth

  • Finserv to take 3-4 yrs to see profits: Sanjiv Bajaj 

    26th May, 2008 10:40

    Sanjiv Bajaj said Bajaj Finserv could take 3-4 years for the bottomline to get profitable. He continues to see a strong growth rate for the life insurance business

  • Transport Corp Q4 net profit at Rs 15.65 cr

    26th May, 2008 10:37

    Transport Corporation of India, TCI has declared its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was at Rs 15.65 crore versus Rs 9.4

  • Avoid Bajaj Auto, Bajaj Finserv: Vijay 

    26th May, 2008 10:31

    Portfolio Manager, PN Vijay is of the view that one should ignore Bajaj Auto, Bajaj Finserv. Bajaj is no longer the Bajaj of 20 years ago. Its struggling at all fr

  • Buy IDFC, tgt Rs 258: ULJK

    26th May, 2008 10:25

    ULJK has maintained buy rating on IDFC with target price of Rs 258. At the current market price of Rs 169, the stock is trading at P/BV of 3.4x and 3.0x for FY09E

  • ONGC likely to outperform: Sukhani

    26th May, 2008 10:21

    Technical Analyst, Sudarshan Sukhani is of the view that ONGC is likely to outperform the market. But the worry is that at some point this bubble will burst and tr

  • BHEL top loser on the Nifty

    26th May, 2008 10:10

    BHEL is the top loser on the Nifty. At 10:05 am, the share was quoting at Rs 1,681.20, down Rs 63.9, or 3.66%. The company has bagged Rs 1,150 crore order for Capt

  • Bharti Airtel pulls out talks with MTN, stk up nealry 4%

    26th May, 2008 10:01

    At 09:56 am, Bharti Airtel was quoting at Rs 870, up Rs 32.35, or 3.86% on the NSE. The company has pulled out of talks with MTN. There are too many movements from

  • Nifty to test 4825 levels: Networth

    26th May, 2008 09:55

    According to Networth Stock Broking Market Review report, Nifty to test 4825 levels. Selling is expected in Banking, Metals and Steel Stocks.

  • Nifty to find support at 4950: Sukhani 

    26th May, 2008 09:47

    Sudarshan Sukhani of Technical trends said that the it looks like a bear market. He sees a support level for the Nifty at 4950. He rues that the rally up to 5350

  • Caution while dealing in illiquid scrips

    26th May, 2008 09:46

    It has been observed that recently there has been a sudden spurt in the trading of the scrips, which were either not being traded at all previously or had very thi

  • Wall Street plunges on rising oil price

    26th May, 2008 09:42

    Another crude surge in inflation concerns pushed down Wall Street on Friday. The blue-chip index and the S&P 500 dropping over 1% each, the tech heavy Nasdaq losin

  • Geojit Financial Q4 cons net profit at Rs 11.8 cr

    26th May, 2008 09:39

    Geojit Financial Services has declared its consolidated results for the quarter ended March 2008 (Q4). The company's Q4 consolidated net profit was at Rs 11.8 cror

  • BJP takes root South of Vindhyas

    26th May, 2008 09:38

    It is indeed a double delight for the BJP (Bhartiya Janta Party) which is celebrating a decisive win in the karnataka assembly elections. The party also opens its

  • Market likely to exhibit volatility: Khandwala

    26th May, 2008 09:28

    According to Khandwala Securities Market Preview report, The market is likely to exhibit heightened volatility as the week also witnesses expiry of May series F&O

  • Market likely to be range-bound: Angel

    26th May, 2008 09:18

    According to Angel Broking weekly review report, in the immediate term market is likely to be range-bound amidst volatility.

  • Nifty Futures OI was up by Rs 1108 cr 

    26th May, 2008 09:15

    Nifty Futures Open Interest was up by Rs 1,108 crores. Nifty Rollover were at 32%. Stock Futures Open Int was down by Rs 657 crore. May Stock Futures shed 7.66 lak

  • Support for Sensex at 16550

    26th May, 2008 09:09

    The support for the Sensex is at 16550 and the resistance to the up move at 16863.

  • Rupee opens at Rs 42.74 per dollar

    26th May, 2008 09:01

    The Indian Rupee opened at Rs 42.74 per dollar versus Rs 42.68 Friday.

  • One step up and two steps down in stock market

    26th May, 2008 08:55

    As per financial numerology 21st week of year 2008 represents Jupiter.As per Financial astrology Jupiter is very famous to bring highest volatility in world future

  • Bears have the edge

    26th May, 2008 08:50

    A sustained fall below 16400 will aggravate the fall. If the hope for the bulls is to remain intact, then the Sensex must jump up without wasting time to first mov

  • Money calls: Ramkumar, Sharma

    26th May, 2008 08:47

    Positive sentiment in the bond market is likely to continue. I expect the yield on 10-year bonds to touch 8%, says Ramkumar

  • L&T Q4 PAT seen at Rs 871 cr

    26th May, 2008 08:44

    L&T is to announce its Q4FY08 numbers. According to CNBC-TV18 estimates, the company is expected to post standalone profit after tax of Rs 871 crore as against Rs

  • Stocks in news: Omaxe, Rel Comm, Geojit Fin

    26th May, 2008 08:36

    Stocks in news: Omaxe has results today. Rel Comm is likely to accepts the MTN structure, it likely to transfer its 66% stake and become largest shareholder in MTN

  • Fund Action witnessed in stocks on 23rd May

    26th May, 2008 08:28

    On May 23, fund action was witnessed in Jyothy Laboratories, Kiri Dyes and Radha Madhav.

  • F&O cues: Nifty rollover at 32%

    26th May, 2008 08:25

    F&O cues: Nifty May Futures adds 2.48 lakh shares; Nifty June Adds 25.3 lakh shares. Nifty rollover at 32%, market wide at 18%.

  • Market cues: FIIs net sell $136.5 mn

    26th May, 2008 08:23

    Market cues: FIIs net sell $136.5 mn. MFs net sell Rs 92.2 cr in equity.

  • Adlabs plans to bring back touring cinema concept

    26th May, 2008 08:19

    Taking the entertainment offering to the next level Adlabs, an arm of the Anil Dhirubhai Ambani Group, is contemplating bringing the old cinema exhibition concept

  • Coupling or decoupling: Where does India stand? 

    26th May, 2008 19:17

    This year has been a tumultuous year, a year of ups and down. There have been theories of Coupling and Decoupling that have been doing the rounds during the year.

  • Elecon Engg net profit up by 22% 2007- 2008

    26th May, 2008 18:42

    Elecon Engineering Company Ltd has recorded a turnover of Rs. ­826 Crore and net profit of Rs. 67 Crore for the year ended March 31, 2008 as against the turnover o

  • REC FY08 net profit at Rs 861.93 cr

    26th May, 2008 18:22

    REC has announced its FY08 results. The company's consolidated net sales were at Rs 3378.22 crore.

  • RBI norms for operationalising farm loan waiver soon

    26th May, 2008 18:10

    Deputy RBI Governor Usha Thorat said RBI will issue instructions for operationalising the farm loan waiver, reports CNBC-TV18. She added that RBI is regularly moni

  • Focus Communication bags Blue Foods Account

    26th May, 2008 18:07

    Focus Communications has been selected as the creative agency for prestigious Blue Foods account. Clarity of thought process and clear understanding of the brand h

  • TAKE Solutions PAT zooms 63%

    26th May, 2008 17:43

    TAKE Solutions PAT Zooms 63%. The Company posted a Rs. 54 crore profit after tax for the year ended March 31, 2008, compared to Rs 33 crore in the previous year. I

  • YV Reddy sounds caution on fiscal deficit nos 

    26th May, 2008 17:35

    RBI Governor YV Reddy says the country's fiscal situation has shown improvement. But he adds that the numbers do not reflect "several underlying fiscal pressures."

  • To foray into software outsourcing biz: Geojit Fin Srvcs 

    26th May, 2008 17:30

    CJ George, MD, Geojit Financial Services said BNP Paribas has taken 35% stake in Geojit Technologies for Rs 60 crore. "This is going to develop significant busines

  • IT, pharma relatively safe: Centrum Broking 

    26th May, 2008 17:17

    According to Mehraboon Irani of Centrum Broking the market outlook is uncertain with a negative bias. The immediate trigger for the market is what the government d

  • Rupee ends lower, bond closes higher

    26th May, 2008 17:10

    The spot rupee ended lower at 42.7200 per USD as against previous close of Rs 42.6850.

  • HTMT Global Q4 cons net profit at Rs 24.13 cr

    26th May, 2008 16:59

    HTMT Global Solutions has anounced its fourth quarter results. The company's Q4 consolidated net sales were at Rs 173.45 crore.

  • India not current choice as EM: Scottish Invst 

    26th May, 2008 16:50

    Divya Mathur, Scottish Widows Investment Partnership, said India is not in a financial position to manage domestic subsides at the moment. He adds that from an eme

  • Impetus Technologies forays into Open Social Platforms

    26th May, 2008 16:45

    Impetus Technologies (www.impetus.com), pioneers in outsourced software product engineering services, announced the launch of their internal dedicated practice gro

  • IT space looks relatively safe: Irani 

    26th May, 2008 16:30

    Mehraboon Irani, Centrum Broking is of the view that IT space is looking relatively bit safer.

  • Financial Technologies Group organizes blood donation camp

    26th May, 2008 16:24

    Financial Technologies Group organizes nation-wide blood donation camp in association with NACO and SBTC

  • Netmagic partners with HP

    26th May, 2008 16:14

    Netmagic Solutions, India’s leading managed IT services provider, today announced a partnership with HP to jointly address the growing demand for data center and m

  • Everest Kanto FY08 net profit up at Rs 104.27 cr

    26th May, 2008 16:09

    Everest Kanto has announced its FY08 results. The company's consolidated net sales were up at Rs 528.74 crore from Rs 425.05 crore, YoY.

  • Bank of Rajasthan can test Rs 129-130: Gujral

    26th May, 2008 16:04

    Technical Analyst, Ashwani Gujral is of the view that Bank of Rajasthan can test Rs 129-130. It moves more on newsflow than with the sector. It has support at arou

  • Repro India net profit up 65% to Rs 15.55cr

    26th May, 2008 15:54

    Repro India announced a Net Profit of Rs.4.59 crore, jump of 68% in their Net Profit on revenue of Rs.35.81 crore for the quarter ended March 2008 as compared to R

  • Principal PNB AMC collects Rs 233cr for its FMP - 91 days

    26th May, 2008 15:39

    Principal PNB AMC announced that they have mobilized Rs 233 crores for their recently closed Principal Fixed Maturity Plan - 91 days – Series XIV. The 91 day schem

  • Intas Biopharma to market lung cancer drug GEFITINIB

    26th May, 2008 15:30

    Intas Biopharmaceuticals Limited is all set to market Lung Cancer drug, GEFITINIB, under brand name “GEFFY”, in Indian market. In line with company’s sales strateg

  • BMR Advisors in JV with AL FANAR Group

    26th May, 2008 15:13

    BMR Advisors in Joint Venture with the AL FANAR Group. The joint venture, “BMR Advisors Middle East WLL”, will have its headquarters in Bahrain and aims to fill th

  • PM may decide on oil price hike after consulting Sonia 

    26th May, 2008 15:09

    Sharma believes the Prime Minister would make his decision on the oil prices hike after consulting the Congress Preident as the implications of this price hike, wo

  • SBI raises deposit rates, stk down

    26th May, 2008 14:58

    At 2:47 pm, SBI was quoting at Rs 1,544, down Rs 29.25, or 1.86%. The company has raised deposit rates for 3-5 year deposits by 35 bps to 8.85% and for 5-10 year d

  • Repro India up on large volumes

    26th May, 2008 14:52

    Repro India It was trading with volumes of 583,913 shares. At 2:43 pm, the share was quoting at Rs 148.30, up Rs 21.30, or 16.77%. On Friday the share closed down

  • Expect good returns in Bajaj Electrical: H Agarwal 

    26th May, 2008 14:46

    Hitesh Agarwal of Angel Broking is of the view that one can expect good returns in Bajaj Electrical. The company has very strong brand positioning and a very well

  • Omaxe FY08 net profit up at Rs 494.8 cr

    26th May, 2008 14:41

    Omaxe has announced its FY08 results. Its FY08 consolidated net sales was at Rs 2281.6 crore versus Rs 1431 crore.

  • Aegis Logistics slips 4%

    26th May, 2008 14:33

    At 2:24 pm, Aegis Logistics was quoting at Rs 233.25, down Rs 9.9, or 4.07%. It has touched an intraday high of Rs 243.70 and an intraday low of Rs 231.10. It was

  • HT Media a market performer: Prabhudas Lilladher

    26th May, 2008 14:23

    Prabhudas Lilladher has maintaiend market performer rating on HT Media with target price of Rs 163. Lower newsprint costs YoY, enabled to set off any increase in

  • Cap Goods space likely to remain under pressure: H Jani

    26th May, 2008 14:21

    Hemang Jani, Senior Vice President at Sharekhan feels that Capital Goods sector will remain under pressure because in terms of valuations it was definitely little

  • Hold ITC, says R Agarwal 

    26th May, 2008 14:09

    Rajesh Agarwal of CD Equisearch is of the view that one can hold ITC and buy on dips. It is a diversified company with a presence in almost all the sectors be it c

  • ITC has strong support at Rs 200: Mathew 

    26th May, 2008 14:00

    Technical Analyst, E Mathew is of the view that ITC has strong support at Rs 200. The results were a little disappointing as far as the market was concerned and th

  • U-TO Soln's BroadView to help Viacom18 in schedule mgmnt

    26th May, 2008 13:40

    U-TO Solutions, the India Exclusive Agent of Broadview Inc, has been recently appointed by Viacom18, one of India's leading multimedia entertainment powerhouse, to

  • Bearish on infra, cap goods in short-term: Sharekhan 

    26th May, 2008 13:25

    Hemang Jani, Senior Vice President, Sharekhan, said investors should remain cautious on the market. Jani is bearish on infrastructure and capital goods in the shor

  • Ashok Ley-Nissan signs 3 JVs for LCV, power trains 

    26th May, 2008 13:14

    Ashok Ley-Nissan has signed three joint ventures to develop, manufacture and sell light commercial vehicles and power trains. Ashok Ley-Nissan will invest USD 575

  • Buy GMR Infra on declines: Mathew 

    26th May, 2008 13:00

    Technical Analyst, E Mathew is of the view that one can buy GMR Infrastructure on declines at a stoploss of Rs 120 to Rs 122. It has strong resistance between Rs 1

  • Buy Koutons Retail, target of Rs 1140: Prabhudas Lilladher

    26th May, 2008 12:57

    Prabhudas Lilladher has maintained its buy rating on Koutons Retail India with a price target of Rs 1140. Company increased number of stores from 687 in FY07 to 1,

  • Ambuja Cements among major losers

    26th May, 2008 12:53

    Ambuja Cements is among major losers on the Nifty. At 12:48 pm, the share was quoting at Rs 98.15, down Rs 4, or 3.92%. It was trading with volumes of 740,768 shar

  • HDIL an outperformer, tgt Rs 1389: P Lilladher

    26th May, 2008 12:50

    Prabhudas Lilladher has maintained outperformer rating on HDIL with target price of Rs 1387. We had earlier assigned a 10% premium to the NAV value on account of

  • ITC takes further dip

    26th May, 2008 12:46

    At 12:37 pm, ITC was quoting at Rs 204.90, down Rs 8.7, or 4.07%. It has touched an intraday high of Rs 211 and an intraday low of Rs 204.10. It was trading with v

  • Business outlook moderates; outlook for GDP gwth at 8% plus

    26th May, 2008 12:43

    Business outlook moderates; outlook for GDP growth at 8% plus and investments set to increase during the first half of 2008-09: CII’s 69th Business Outlook Survey

  • Pyramid Saimira dips 5%

    26th May, 2008 12:40

    At 12:31 pm, Pyramid Saimira Theatre was quoting at Rs 335.80, down Rs 17.45, or 4.94%. It was trading with volumes of 12,769 shares. On Friday the share closed do

  • G Shah bullish on IT space 

    26th May, 2008 12:26

    Gautam Shah of JM Financial Services is bullish on IT space.

  • Eicher Motors promoters plans buyback, stk up 13.6%

    26th May, 2008 12:24

    At 12:14 pm, Eicher Motors was quoting at Rs 364, up Rs 43.75, or 13.66%. The company's promoters is planing to buyback 13.13% equity at Rs 691.68 per share, repor

  • Buy Reliance Infrastructure, tgt Rs 2144: ULJK

    26th May, 2008 12:16

    ULJK has maintained buy rating on Reliance Infrastructure with target price of Rs 2144. This company will focus on infrastructure involving roads, urban infrastruc

  • Avoid capital goods space: G Shah 

    26th May, 2008 12:12

    Gautam Shah of JM Financial Services is of the view that one should ignore capital goods space at this level. In banking because of what inflation is doing, that’s

  • HDIL to bid for 10 Nelp blocks, stk down

    26th May, 2008 11:59

    At 11:49 am, HDIL was quoting at Rs 739.50, down Rs 18.7, or 2.47%. The company is likely to bid for 10 Nelp blocks, quoting DNA. It was trading with volumes of 28

  • Buy ITC, says Baliga 

    26th May, 2008 11:51

    Ambareesh Baliga of Karvy Stock Broking is of the view that one should buy ITC at this level. It has a price target of around Rs 320-330 over the next 12-15 months

  • Bk of Rajasthan to consider bonus issue, stk up 6.6%

    26th May, 2008 11:38

    At 11:28 am, Bank of Rajasthan was quoting at Rs 108.80, up Rs 6.80, or 6.67%. The company in the board meet on May 31 will consider bonus issue, reports CNBC-TV18

  • Dalmia Cem working aggressively to cut input costs 

    26th May, 2008 11:32

    Puneet Dalmia, VP, Dalmia Cements said the company had a tough quarter. He said the company was facing very high cost pressures due to increased energy cost and di

  • Invest in cos with strong earnings growth: Fidelity Mgmt 

    26th May, 2008 11:28

    Portfolio Manager Arun Mehra at Fidelity Management said inflation, crude, and subsidies are still creating short-term uncertainties. “This year's correction was d

  • Maruti Suzuki among major losers

    26th May, 2008 11:24

    Maruti Suzuki is among major losers on the Sensex. At 11:15 am, the share was quoting at Rs 759.60, down Rs 30.55, or 3.87%. It was trading with volumes of 21,047

  • Bajaj Finserv lists at Rs 545

    26th May, 2008 11:21

    After demerger Bajaj Finserv has listed at Rs 545. There is no circuit filter today, reports CNBC-TV18. At 11:09 am, the share was trading with volumes of 741,478

  • Mercator Lines takes a dip

    26th May, 2008 11:16

    Mercator Lines has continued to slip. At 11:06 am, the share was quoting at Rs 113.30, down Rs 4.35, or 3.7%. It was trading with volumes of 874,655 shares. On Fri

  • Bajaj Hindusthan dips further

    26th May, 2008 11:02

    At 10:54 am, Bajaj Hindusthan was quoting at Rs 206.35, down Rs 11.9, or 5.45%. It has touched an intraday high of Rs 217 and an intraday low of Rs 205. It was tra

  • Don't enter in IT space: Sukhani 

    26th May, 2008 10:57

    Technical Analyst, Sudarshan Sukhani is of the view that one shouldn't enter in IT stocks at current level.

  • Go bottomfishing for IT, Healthcare & midcap: JM Fin 

    26th May, 2008 10:48

    Gautam Shah, Technical Analyst, J M Financial Services has forecasted the Sensex to come down to 16000 and Nifty at 4800. Investors are seen buying tech stocks at

  • Essar Oil continues to slip

    26th May, 2008 10:44

    Essar Oil has continued to slip. At 10:34 am, the share was quoting at Rs 235.50, down Rs 11.3, or 4.58%. It has touched an intraday high of Rs 248.10 and an intra

  • Rel Com looks better than Bharti: Sukhani

    26th May, 2008 10:37

    Technical Analyst, Sudarshan Sukhani is of the view that Reliance Communications is looking better than Bharti Airtel.

  • We are likely to be hit by the global decline today

    26th May, 2008 10:34

    European markets declined heavily on Friday, and the US indices followed suit. Asian markets are also down sharply this morning, and the global short-term trend re

  • Bajaj Auto lists at Rs 725

    26th May, 2008 10:26

    After demerger Bajaj Auto has listed at Rs 725. There is no circuit filter today. It is to be part of NSE F&O, the futures lot size is of 200 shares and options st

  • Mkt to react positively to Bajaj Finserv: Rahul Bajaj 

    26th May, 2008 10:23

    Rahul Bajaj, Chairman, Bajaj Auto, said that Bajaj Allianz would exercise a call option if the government allows them to. He expects the market to react positively

  • Jaiprakash Associates plunges 3.5%

    26th May, 2008 10:14

    Jaiprakash Associates has continued to down. At 10:05 am,the share was quoting at Rs 229.20, down Rs 8.45, or 3.56%. It was trading with volumes of 126,708 shares.

  • Rel Com to acquire London-based MVNO Vanco, stk down

    26th May, 2008 10:04

    At 09:59 am, Reliance Communications was quoting at Rs 556, down Rs 15.7, or 2.75% on the NSE. The company is in advanced talks to acquire London-based MVNO Vanco,

  • Buy Vakrangee Software, tgt Rs 415: HEM Sec

    26th May, 2008 09:58

    HEM Securities has maintained buy rating on Vakrangee Software with target price of Rs 415. Presently, the stock is trading at Rs 275 which is 11.79 times to its e

  • Gloom, doom scenario being over done: PN Vijay

    26th May, 2008 09:49

    Portfolio Manager PN Vijay is of the view that in the four months, the markets seem to have come to terms with inflation, interest rates and rupee. He can't unders

  • Sensex has support at 16546-16397: HEM

    26th May, 2008 09:46

    According to Hem Securities Market report, the markets are expected to be downward to today. The resistance for Sensex remains at 16780/16890 levels while support

  • Nifty may correct upto 4905–4864: Angel

    26th May, 2008 09:45

    According to Angel Broking Market Outlook report, if Nifty trades below 4982 / 16777 for the first half-an-hour of trade then it may correct upto 4905 – 4864 / 165

  • Nifty ends below 4900; banks, CG, metal, FMCG stks down

    26th May, 2008 09:41

    The markets started the week on a weaker note and remained in favour of bears for the third consecutive day. Banking, capital goods, metal, FMCG, realty, power and

  • R-Comm not exploring merger with MTN: Sources 

    26th May, 2008 09:38

    Reliance Communications is not exploring merger or acquisition with MTN, reports CNBC-TV18 quoting sources. This news came after CNBC reported that Reliance Commun

  • Buy Jubilant Organosys tgt Rs 512: Bajaj Capital

    26th May, 2008 09:37

    Bajaj Capital has maintained buy rating on Jubilant Organosys with target of Rs 512 translating into a gain of about 45%.

  • Pullbacks seems unlikely: Karvy

    26th May, 2008 09:21

    According to Karvy Stock Broking Weekly Technical Analysis report, The 16900-17100/ 5000-5100 will act as stiff resistances incase of any pullbacks which seems unl

  • R-Comm eyes London-based MVNO: Sources

    26th May, 2008 09:17

    Reliance Communications is in advanced talks to acquire London-based MVNO Vanco, reports CNBC-TV18 quoting sources. The deal size is likely to be about USD 75 mill

  • Nifty has supports at 4940

    26th May, 2008 09:12

    We said ‘and as log as 16550 holds the market should be up. The logical technical targets in the days to come would be 17842 -18053’. Nifty has crucial supports at

  • Niraj Cement IPO opens for subscription

    26th May, 2008 09:08

    Niraj Cement Structurals, an engineering and construction company, will open for subscription today with an initial public offering, IPO of 32,50,000 equity shares

  • Buy MCX June Gold at Rs 12655

    26th May, 2008 09:00

    I am bullish on gold and crude. Buy Gold MCX June at Rs 12,655 per 10 grams with a stoploss of Rs 12,605 per 10 grams and target of Rs 12,950 per 10 grams, says Gn

  • Repro India Q4 net profit at Rs 4.58 cr

    26th May, 2008 08:53

    Repro India has announced its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was at Rs 4.58 crore versus Rs 2.72 crore.

  • Still cautious on Europe and the US: Tyche Group 

    26th May, 2008 08:47

    Martin Hennecke, Senior Manager at Tyche Group said, they were still cautious on exports to Europe and the US. Speaking to CNBC-TV18, he said, "We still don’t like

  • Equity calls: Choksey, Bhamre

    26th May, 2008 08:46

    The market sentiment remains weak as crude prices are not showing any signs of cooling off. The Sensex is likely to slip to around 16,300 and bounce back from ther

  • Avoid bargain buying for now

    26th May, 2008 08:43

    The coming session is likely to witness a range of 4875 on declines and 5020 on advances. The 4985 level will be the bearish pivot below which the outlook will rem

  • Bank of Baroda plans 10 more offices abroad

    26th May, 2008 08:30

    Bank of Baroda, which has a strong international presence with 71 offices in 25 countries, is planning to expand its overseas presence by adding 10 more offices an

  • Crude at $132.51/bbl

    26th May, 2008 08:27

    Crude prices continued to trade at USD 132.51 per barrel mark due to concerns over long term supply constraints and strong demand from emerging markets.

  • Vedanta in talks with 3 partners for Orissa steel plant

    26th May, 2008 08:24

    The Vedanta Group is in talks with three potential partners for jointly setting up a 5 mt steel plant in Orissa, the Group’s Chairman, Mr Anil Agarwal, said here o

  • Asian markets end lower

    26th May, 2008 08:20

    Asian markets ended lower. Shanghai Composite was down 3.13% or 108.55 points at 3,364.54. Hang Seng fell 2.37% or 586.76 points at 24,127.31. Nikkei 225 Average s

  • Reliance may begin drilling in KG block this year

    26th May, 2008 08:13

    Rig availability may once again come in way of Reliance Industries Ltd’s (RIL) plans to meet the exploratory commitments for its deepwater block D9 in Krishna Goda

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