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Moneycontrol News Archive : 28 May, 2008

  • R-Comm begins due dilligence on MTN: Srcs

    28th May, 2008 21:01

    Reliance Communications has begun due diligence on MTN, reports CNBC-TV18, qouting sources. However, the company has declined to comment.

  • Tata Motors gets board nod for 3 rights issues

    28th May, 2008 20:14

    Tata Motors has started consolidating funds to complete the Jaguar-Land Rover acquisition. The company's board has approved raising Rs 7,200 crore through three se

  • NCDEX- Trade details for May 28, 2008

    28th May, 2008 19:27

    NCDEX, 479 members (2,213 users) participated in trading on May 28, 2008 up to 5:00 pm and volumes were Rs 2,427 crore (one-way). There were more than 67,584 tra

  • Godrej Industries cons PBDIT up 97%; PAT up 185%

    28th May, 2008 19:15

    Godrej Industries consolidated PBDIT up 97%; PAT up 185%; Revenue up 25%

  • FinMin denies oil cess 

    28th May, 2008 18:55

    Emerging after a meeting with the Finance Minister, Petroleum Minister Deora on Tuesday, went public about the possibility of an oil cess. Around 24 hours later, t

  • Mkts giving no clearcut signals: K&A Secs  

    28th May, 2008 18:47

    Sushil Kedia of K&A Securities said the markets do not give any signals to look for short-term trading long positions on Nifty. He added that one has to watch how

  • Reliance Money forays into China

    28th May, 2008 18:30

    Reliance Money, the largest broking and distribution house in India and part of the USD 100 billion Reliance Anil Dhirubhai Ambani Group, today announced its debut

  • Play Games on Zapak.com & win cash upto Rs 1crore

    28th May, 2008 18:11

    Zapak in association with Reliance Mobile presents a unique Cash League which allows everyone to make money by playing any game on India’s No. 1 Gaming Portal, Za

  • M&M Automotive to launch Ingenio in H2 CY08 

    28th May, 2008 17:59

    Pawan Goenka, President-Automotive Sector, M&M said FY09 is going to be a difficult year because of challenges from raw material cost increases, interest rates and

  • Tata Teleservices announces results of Postal ballot

    28th May, 2008 17:45

    Tata Teleservices (Maharashtra) Limited announced the results of the Postal Ballot conducted pursuant to Section 192A of the Companies Act, 1956. Out of the total

  • Mundra Port to convert airport to commercial centre 

    28th May, 2008 17:29

    Rajiv Sinha, Whole-time Director, Mundra Port and SEZ said cargo growth is at 45% for FY08 and CAGR is at 54% for the last three years. He added that they are maki

  • Crude support seen at $124/bbl or just below: T Gnanasekar  

    28th May, 2008 17:17

    T Gnanasekar said that USD 126 per barrel is a good support right now but if it’s not able to hold here it can go back down to USD 124 per barrel levels. So, funda

  • Mahindra Lifespace now entering residential space 

    28th May, 2008 17:13

    Arun Nanda, President & ED, M&M informed CNBC-TV18 that Mahindra Lifespace is now going into the residential phase. One will see a much higher level of profitabili

  • Subscribe to Bafna Pharmaceutical IPO: ICICI direct

    28th May, 2008 17:02

    Bafna Pharmaceutical issue has opened for subscription with its initial public offering (IPO) of 64,00,000 equity shares of face value Rs 10 each. ICICI direct.com

  • Monsoon, advance tax nos hold key to mkts ahead: Tulsian 

    28th May, 2008 16:56

    SP Tulsian of sptulsian.com said traders would be looking for two triggers or news for this June series. "One would be monsoons and second advance tax figures. Pro

  • IOC not to incur losses by importing diesel 

    28th May, 2008 16:52

    Indian Oil Corporation, or IOC has announced its Q4 and FY08 numbers. It has posted Q4 net loss of Rs 414.3 crore as against profit of Rs 1,609.67 crore in same pe

  • Heavy OMC borrowings not to hit money supply: Bankers 

    28th May, 2008 16:40

    Bankers are attributing the spurt in credit partly to the short-term borrowings of oil companies. So, will heavy demand from oil companies put a strain on the mone

  • CRISIL assigns IPO grade 3/5 to RITES

    28th May, 2008 16:31

    CRISIL has come out with a research report on RITES's IPO. It has assigned a CRISIL IPO Grade 3/5 to the company's IPO. The company proposes to raise around Rs 3.5

  • IVR Prime Q4 net profit at Rs 42 cr

    28th May, 2008 16:28

    IVR Prime has announced its Q4 numbers. It has posted net profit of Rs 42 crore as against Rs 116.3 crore and revenue of Rs 240 crore versus Rs 296 crore, QoQ.

  • My duty is to take minorities in confidence: Yedyurappa

    28th May, 2008 16:18

    Karnataka's Chief Minister-in-waiting, B S Yeddyurappa was in New Delhi on Wednesday to meet top BJP leaders, before being sworn in on Friday, reports IBN Live.com

  • Starcom Entertainment is now The Bridge

    28th May, 2008 16:15

    Starcom MediaVest Group announced that effective immediately, its entertainment and embedded marketing unit Starcom Entertainment, which has been operating in diff

  • NComputing wins multiple awards for affordable computing

    28th May, 2008 16:09

    NComputing announced that is has recently garnered multiple industry awards for its affordable computing solutions. By revolutionizing pricing for PC access, NComp

  • Tata Motor Bd okays 3 rights issues totalling Rs7200cr

    28th May, 2008 15:55

    Tata Mtr Bd okays 3 rights issues totalling Rs7200Cr. On completion of the above Rights Issues, it is also proposed, as already announced earlier, to raise about &

  • Two digit margins can be achieved despite pressures: M&M

    28th May, 2008 15:50

    M&M in its Q4 and FY08 numbers, has posted FY08 consolidated net profit of Rs 1571.1 crore vs Rs 1497.2 crore last yr. The management said the outlook for tractors

  • Tata Motors cons revenue grows by 9.3% to Rs 40340.79cr

    28th May, 2008 15:45

    Tata Motors reported consolidated gross revenue of Rs 40340.79 crores in 2007-08, a growth of 9.3% compared to Rs 36922.61 crores in 2006-07.The consolidated reven

  • Tata Motors FY08 cons net profit at Rs 2167.70 cr

    28th May, 2008 15:25

    Tata Motors has declared its results for FY08. The company's FY08 consolidated net profit was at Rs 2,167.70 crore versus Rs 2,204.93 crore on YoY basis.

  • Baja Elec to improve margins by 0.5% 

    28th May, 2008 15:14

    Bajaj Electrical has announced its FY08 results. The company's FY08 net profit was up at Rs 73 crore from Rs 38.5 crore. Ramakrishnan, ED said he sees a possibili

  • Hold CESC: P Sekhar 

    28th May, 2008 15:12

    P Phani Sekhar of Angel Broking is of the view that one can hold CESC for two years. It has excellent operating cash flows and has been quietly transforming itself

  • Hyundai launches Optional Extended Warranty scheme

    28th May, 2008 15:01

    Hyundai Motor India, the country’s largest passenger car exporter and the second largest auto manufacturer, are once again setting benchmarks for the industry, as

  • GMR Infrastructure gains 4.2%

    28th May, 2008 14:57

    At 2:47 pm, GMR Infrastructure was quoting at Rs 139.85, up Rs 5.75, or 4.29%. It has touched an intraday high of Rs 140.40 and an intraday low of Rs 134.30. It wa

  • MetroMela launches Hyderabad City Centric Magazine

    28th May, 2008 14:53

    MetroMela, India’s first multi-modal, multi-location Internet Services provider announced the launch of a new City Centric Lifestyle, Wellness, Entertainment and F

  • Emco to maintain margins at 13.5% in FY09 

    28th May, 2008 14:52

    Rajesh Jain, CMD, Emco said the company is looking to acquire an African company. He told CNBC-TV18 that the deal size is seen at less than USD 60 million. He exp

  • Jet Airways gets Airbus A330-200 aircraft

    28th May, 2008 14:45

    Jet Airways has taken delivery of its latest Airbus A330-200 aircraft. Naresh Goyal, Jet Airways Chairman, formally accepted the aircraft at a ceremony at the Berl

  • Mkts may consolidate in 2008: Sam Mahtani 

    28th May, 2008 14:43

    Sam Mahtani, F&C Investment Company is positive on India in the long-term. He sees some short-term weakness due to news flow from the US and the earnings season. O

  • Bajaj Hindusthan recovers shraply

    28th May, 2008 14:38

    Bajaj Hindusthan has recovered today. At 2:29 pm, the share was quoting at Rs 202.45, up Rs 10.95, or 5.72%. It was trading with volumes of 1,456,977 shares. Yeste

  • Angel neutral on Tata Steel

    28th May, 2008 14:37

    Angel Broking has maintained its neutral rating on Tata Steel. Tata Steel has received mineral concession approvals from the Ministry of Mines for 2 large mines -

  • 'Paanchvi Pass' licensed merchandise unveiled!

    28th May, 2008 14:35

    Star India and Bulldog Entertainment announces the launch of a full-fledged merchandise program that brings alive the experience of – Kya Aap Paanchvi Pass Se Tez

  • Mkt may see 4-5% bounce back in short term: Emkay 

    28th May, 2008 14:34

    Anish Damania of Emkay Stock Brokers said that this years lows may be retested but in the short term we may see a slight bounce back of 4%-5% in the short term. He

  • India Cements bounces back

    28th May, 2008 14:24

    India Cements has bounced back today. At 2:14 pm, the share was quoting at Rs 162.80, up Rs 6, or 3.83%. It was trading with volumes of 399,796 shares. Yesterday t

  • Sun Pharma up on buying interest

    28th May, 2008 14:21

    Sun Pharmaceutical Industries was trading with volumes of 35,853 shares. At 2:11 pm, the share was quoting at Rs 1,438, up Rs 62.95, or 4.58%. Yesterday the share

  • Money mkts to take cues from oil, bond yields: HSBC 

    28th May, 2008 14:18

    Anand Krishnamurthy, Co-Head (Global Markets), HSBC said as fresh rounds of supply through oil bonds or government issuance comes through, there will be pressure a

  • Buy GE Shipping: Mohoni 

    28th May, 2008 14:16

    Technical Analyst, Deepak Mohoni is of the view that one can buy Great Eastern Shipping Company with medium to long term perspective.

  • M&M FY08 net up 5% at Rs 1571.1 cr

    28th May, 2008 14:09

    Mahindra and Mahindra, M&M has announced its Q4 and FY08 numbers. It has posted FY08 consolidated net profit of Rs 1571.1 crore as against Rs 1497.2 crore in same

  • Govt eases ban on cement exports from Guj 

    28th May, 2008 13:54

    The government has eased ban on cement exports from the ports in Gujarat. Earlier in April, the government had banned cement exports in its bid to rein in rising i

  • Contra funds lose shine for lack of contrarian buys 

    28th May, 2008 13:46

    In the mutual funds basket, contra funds have lost substantial assets in the last one year. Out of 8 contra funds in the market, 7 have lost net assets of 50-60% i

  • Apar Industries can touch Rs 350-400: R Shah 

    28th May, 2008 13:42

    Rajen Shah of Angel Broking feels that once the market sentiment improves a little bit Apar Industries can touch Rs 350-400 in about 12 months time frame. It is ba

  • Will Group M India's Mindshare restructuring work? 

    28th May, 2008 13:41

    Mindshare Agency Worldwide announced that it is restructuring its business to go beyond just bulk buying of media. Come July, Mindshare India will provide business

  • Crude won't see strong correction downward: Jason Feer 

    28th May, 2008 13:34

    Jason Feer, Argus Media feels that one is probably starting to see the impact of an easing in demand in crude, particularly in the US. However, he sees an unexpect

  • Royal Enfield: Riding cult status or smart advt? 

    28th May, 2008 13:28

    Last year, Royal Enfield climbed the sales charts while the Rs 35,000 crore two-wheeler industry has seen sales slide by 11%. Royal Enfield is riding on the iconic

  • HomeTown brings the ‘Biggest Exchange Offer’

    28th May, 2008 13:09

    HomeTown, India’s most comprehensive home making/ home improvement store has announced ‘The Biggest Exchange Offer’. With this trade-in scheme customers can exchan

  • Future Generali launches Mallassurance™ Initiative

    28th May, 2008 12:58

    Future Generali announces the availability of Total Insurance Solutions at select malls across the country. This revolutionary Mallassurance™ initiative is designe

  • Xenitis Group announces landmark initiatives in West Bengal

    28th May, 2008 12:49

    In keeping with its promise to lead the industrial resurgence in West Bengal, Xenitis Group, a home grown conglomerate, has announced the launch the lowest ever pr

  • Piramal Life Sciences to list on May 29

    28th May, 2008 12:43

    Piramal Life Sciences (formerly known as NPIL Research and Develpoment), NCE Research Unit of Nicholas Piramal, will list on the bourses with its 2,54,51,314 equit

  • Adlabs Films has support at Rs 590: Gujral 

    28th May, 2008 12:38

    Technical Analyst, Ashwani Gujral is of the view that Adlabs Films has support at Rs 590.

  • Tata Comm & Etisalat to deliver comm srvcs in UAE

    28th May, 2008 12:31

    At MECOM 2008, Etisalat announced entering a Memorandum of Understanding with Tata Communications, a leading provider of the new world of communications, in order

  • Future Brands launches DJ&C

    28th May, 2008 12:24

    Future Brands Limited, part of the Future Group, country's premier retail giant owning popular retail formats like the Big Bazaar, The Central, Brand Factory and P

  • Crude to stay at $120-130/bbl until mid-June: Peter Mcguire 

    28th May, 2008 12:05

    Peter McGuire, Managing Director of Commodity Warrants Australia sees a little bit of decrease in demand coming in from the US. So, if there is a decrease then we

  • Chambal Fert continues to gain

    28th May, 2008 12:00

    Chambal Fert has continued to gain. At 11:53 am, the share was quoting at Rs 79.80, up Rs 3.40, or 4.45%. It was trading with volumes of 7,236,999 shares. Yesterda

  • Religare Securities STD rating reaffirmed at 'P1' by CRISIL

    28th May, 2008 11:55

    CRISIL has reaffirmed its rating on the short term debt issuance programmes of Religare Securities Limited’s at ‘P1’ and has removed it from ‘Rating watch with neg

  • Hindalco Industries among major gainers

    28th May, 2008 11:51

    Hindalco Industries is among major gainers on the Sensex. At 11:41 am, the share was quoting at Rs 191.30, up Rs 5.80, or 3.13%. It was trading with volumes of 528

  • Neyveli Lignite up 4% on robust results

    28th May, 2008 11:43

    At 11:33 am, Neyveli Lignite Corporation was quoting at Rs 144.70, up Rs 5.75, or 4.14%. The company's FY08 standalone net profit was up at Rs 1,101.57 crore from

  • Mkts may see March lows, but won't crash right now: Tata MF 

    28th May, 2008 11:37

    Ved Prakash Chaturvedi, MD at Tata Mutual Fund said that because of crude, inflation and pressure growth rates markets may not recover right now. He believes that

  • Indian GDRs: SBI down 5.3%, ICICI Bank slips 4.2%

    28th May, 2008 11:28

    Indian GDRs: SBI, ICICI Bank, ITC, Reliance , L&T, Grasim and Tata Motors slipped, while Satyam, Tata Comm and Dr Rerddy's gained.

  • Axis Bank minting money

    28th May, 2008 11:24

    At 11:14 am, Axis Bank was quoting at Rs 774, up Rs 33.60, or 4.54%. It has touched an intraday high of Rs 774.90 and an intraday low of Rs 740. It was trading wit

  • Unitech has support at Rs 235-240: Mathew 

    28th May, 2008 11:13

    Technical Analyst, E Mathew is of the view that Unitech has support at Rs 235-240. Logically it should at least participate in a pullback rally and this pullback r

  • Mkts to stay lacklustre in short term: Deutsche AMC 

    28th May, 2008 11:12

    Aniket Inamdar, Deuschte Asset Management Company is of the view that market has factored in most negatives. He said that we can look at long-term investment and c

  • Above Rs 80, Chambal Fertilisers can test Rs 86: Mathew 

    28th May, 2008 11:01

    Technical Analyst, E Mathew is of the view that if Chambal Fertilisers sustain above Rs 80 then it can test Rs 86. This is a momentum stock and already a lot of pe

  • Expect some correction in IT stks: J Sinha 

    28th May, 2008 10:54

    Jayprakash Sinha of Mangal Keshav is of the view that one can expect some correction in IT stocks.

  • Pyramid Saimira FY08 net profit at Rs 53 cr

    28th May, 2008 10:48

    Pyramid Saimira Theatre has declared its results for FY08. The company's FY08 standalone net profit was at Rs 53 crore versus Rs 13.4 crore.

  • Suzlon Energy top loser on the Nifty

    28th May, 2008 10:43

    Suzlon Energy is the top loser on the Nifty. At 10:39 am, the share was quoting at Rs 287.80, down Rs 9.5, or 3.2%. It was trading with volumes of 1,013,317 shares

  • HPCL an underperformer: Karvy

    28th May, 2008 10:33

    Karvy Stock Broking has maintained its underperformer rating on Hindustan Petroleum Corporation with a target price of Rs 230. Karvy expects HPCL's Q4FY08 results

  • Jaihind Projects bags order, stk up

    28th May, 2008 10:18

    At 10:07 am, Jaihind Projects was quoting at Rs 140, up Rs 3.60, or 2.64%. The company has bagged order worth Rs 206.5 crore from GSPL, reports CNBC-TV18. It was t

  • Ambuja Cements top gainer on the Sensex

    28th May, 2008 10:12

    Ambuja Cements is the top gainer on the Sensex. At 10:03 am, the share was quoting at Rs 102, up Rs 4.40, or 4.51%. Government has decided to lift ban on cement ex

  • Need for cautious approach to mkts: Mangal Keshav 

    28th May, 2008 09:54

    JP Sinha of Mangal Keshav said the pressure right now on markets is very high. One needs to take a cautious approach to markets at this point in time.

  • Markets are expected to open on positive note: Networth

    28th May, 2008 09:46

    According to Networth Stock Broking Market Review report, Markets are expected to open on a positive note on account of global cues. FIIs remained seller in cash w

  • Is Delta Hospitality spinning a hostile buyout? 

    28th May, 2008 09:43

    There could be another hostile takeover in the hospitality industryin the making and this time round its in Goa. The acquirer -Delta Hospitality is a subsidiary of

  • Expect markets to have uptrend today: Hem

    28th May, 2008 09:43

    According to Hem Securities Morning Note, Hem expects markets to have uptrend today. The support for Sensex remains at 16198/15941 levels and resistance at 16382/1

  • Gwalior Chemical Q4 net profit at Rs 7.4 cr

    28th May, 2008 09:37

    Gwalior Chemical Industries has announced its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was at Rs 7.4 crore versus Rs 4.9 crore.

  • Selling may continue in banks for few more days 

    28th May, 2008 09:35

    The fundamental headwinds will remain for sometime in banking stocks. It is doubtful whether they will outperform in the near-term at all, at best they will stop f

  • NIfty getting weaker; may retest the 4600 level: E Mathew 

    28th May, 2008 09:35

    E Mathew said that the fell through the 4950 levels and this broke the back bone of the bulls. He said the Nifty was getting weaker and may retest the 4600 level.

  • Volatility may remain high: Khandwala

    28th May, 2008 09:31

    According to Khandwala Securities Market Preview report, the volatility may remain high as traders’ rollover May series futures and reshuffle portfolio ahead of on

  • Emco Q4 net profit at Rs 28.78 cr

    28th May, 2008 09:26

    Emco has declared its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was at Rs 28.78 crore versus Rs 14.51 crore.

  • Pharma gets dedicated dept in govt, but no autonomy 

    28th May, 2008 09:18

    The cabinet has given an in-principle approval to carve out a new department of pharmaceuticals under the Ministry of Chemicals and Fertilisers. While the industry

  • M&M Q4 net profit seen at Rs 239 cr

    28th May, 2008 09:13

    Mahindra and Mahindra, M&M is to declare its Q4FY08 results. According to CNBC-TV18 estimates, the company is likely to post net profit (without extraordinary) of

  • Rupee opens at Rs 42.85 per dollar

    28th May, 2008 09:04

    The Indian Rupee opened at Rs 42.85 per dollar versus Rs 42.96 yesterday.

  • Asian mkts may see a technical rally near-term: Puru Saxena 

    28th May, 2008 09:01

    Puru Saxena, CEO of Puru Saxena Wealth Management said, Asia was likely to see a technical rally in the next few weeks as he feels crude oil prices may have commen

  • Sell MCX June Gold at Rs 12580

    28th May, 2008 08:58

    I am negative on gold and crude today. For gold, sell MCX June at Rs 12,580 per 10 grams, with a target of Rs 12,440 per 10 grams, says Sarvanan.

  • MTNL to replace CBoP in CNX Midcap from Jun 9

    28th May, 2008 08:56

    MTNL will replace Centurion Bank of Punjab, CBoP in CNX Midcap Index from June 9.

  • Equity calls: Agrawal, Thukral 

    28th May, 2008 08:50

    Markets are unable to adjust to rising crude prices and as a result global investors have turned extremely cautious. The Indian market is still relatively expensiv

  • Stocks in news: IOC, Tata Motors, Religare

    28th May, 2008 08:44

    Stocks in news: IOC has results today. Tata Motors in the board meet will consider raising long-term funds. Religare has acquired 97.76% stake in UK broking firm H

  • Compact Disc sells IP rights for games for Rs 7.10 cr

    28th May, 2008 08:38

    Media and entertainment company, Compact Disc India Ltd (CDI) on Tuesday said it has inked a deal with Golden Games Pte. Ltd, as part of which CDI has transferred

  • Crude falls sharply to $128/bbl

    28th May, 2008 08:37

    Crude prices fell sharply to USD 128 per barrel, after hitting a series of record highs in previous sessions. As the dollar strengthened, traders pulled back amid

  • TRAI cautions DoT against overriding regulatory procedures

    28th May, 2008 08:34

    The Telecom Regulatory Authority of India (TRAI) has cautioned the Department of Telecom against taking any decision on policy matters without consulting it.

  • Gujarat NRE to raise coal output in Australian mines

    28th May, 2008 08:27

    Gujarat NRE Coke Ltd, which is increasing coal production at its mines in Australia, is planning to acquire half-a-dozen bulk carriers to bring coal to India.

  • BHEL, Italian co in race for Rs 1,300-cr NLC order

    28th May, 2008 07:56

    Public sector Bharat Heavy Electricals Ltd (BHEL) and the Italian power major, Ansaldo, are in the race for supplying boilers to Neyveli Lignite Corporation’s Tuti

  • Tax private oil cos: Left 

    28th May, 2008 20:42

    It’s payback time for private oil companies, says the Left. It wants the government to impose a windfall tax on profits of Reliance, Cairn and Essar to tide over t

  • Tata Motors FY08 cons net sales at Rs 35,651.48 cr 

    28th May, 2008 19:38

    Tata Motors has declared its results for FY08. The company's consolidated net sales were at Rs 35,651.48 crore versus Rs 32,426.41 crore on YoY basis. Its other in

  • Dr Anji Reddy, Dr Uday Saksena of DRL float Kareus 

    28th May, 2008 19:17

    Scientists always believe in creating newer innovations and that could be the precise reason for Dr K Anji Reddy’s latest move. Dr Anji Reddy, the Founder of Dr Re

  • Gemstone Sys announce deals with 3 of Top 10 Wall Street Bk

    28th May, 2008 19:05

    Gemstone Systems announces Enterprise-Wide Deals With 3 Of The Top 10 Wall Street Banks

  • Metal Bulletin plans to publish new index for iron ore mkt

    28th May, 2008 18:55

    Metal Bulletin plans to publish a new index for the iron ore market, which offers the potential for derivative contracts to be offered on a widespread basis. The i

  • NETGEAR introduces 3 advanced smart switches

    28th May, 2008 18:39

    NETGEAR® Strengthens its Industry-Leading Family of ProSafe Gigabit Smart Switches by introducing three advanced Smart Switches

  • Nokia launches Nokia 2600 Classic & Nokia 1209

    28th May, 2008 18:23

    Nokia, the world leader in mobile communications, have announced the launch of two new additions in its entry portfolio – Nokia 2600 classic and Nokia 1209

  • Bartronics to automate fish prasadam distribution

    28th May, 2008 18:01

    Bartronics India Limited has been chosen by the Hyderabad District Administration to automate and thereby regulate the distribution of fish prasadam in Hyderabad o

  • Rev growth to cross $1 bn ahead of schedule: M&M Forgings 

    28th May, 2008 17:52

    Hemant Luthra, President-Systech, M&M Forgings, they are seeing a lot of orders coming in from Eastern Europe, Russia, Kazakhstan and those places where they are b

  • Rupee, bonds end higher

    28th May, 2008 17:35

    The spot rupee ended higher at Rs 42.73 per USD as against its previous close of Rs 42.96.

  • ICICI Pru ties up with American Express Banking

    28th May, 2008 17:20

    ICICI Prudential Life Insurance announced its tie-up with American Express Banking Corp. in a service initiative that will enable ICICI Prudential Life policyholde

  • Mundra Port FY08 net profit stood at Rs 213 cr

    28th May, 2008 17:16

    Mundra Port has declared its FY08 results. The company's FY08 income stood at Rs 846 crore and net profit stood at Rs 213 crore.

  • CRISIL assigns 3/5 grade to the IPO of RITES

    28th May, 2008 17:10

    CRISIL has assigned a CRISIL IPO Grade "3/5" (pronounced "three on five") to the proposed initial public offer of RITES Limited. This grade indicates that the fund

  • IVRCL sees turnover at Rs 4,800-5,200cr ahead 

    28th May, 2008 16:58

    Sudhir Reddy, CMD, IVRCL, said there was a 31% EBITDA growth over the previous quarter. "The company is looking at a 45-50% growth." He expects a turnover of Rs 4,

  • Juniper Networks tops India's hardware firewall/VPN mkt

    28th May, 2008 16:53

    Juniper Networks, Inc announced that it took the lead in India’s standalone hardware firewall/VPN device market in Q407, the most recent quarter with published mar

  • OCM launches Fashionable Winter’08 Collection

    28th May, 2008 16:45

    OCM India Ltd., a leading Indian manufacturing company of worsted wool fabrics, launched its Trendy Winter’08 Collection on the occasion of Sales Conference in Amr

  • ORPAT Grp & NXP to launch mobile handsets in India

    28th May, 2008 16:35

    NXP Semiconductors, the independent semiconductor company founded by Philips, and Orpat Group, the world’s largest clock maker, announced a collaboration that enab

  • Stocks to watch: CESC, Tech Mah & Axis Bank 

    28th May, 2008 16:29

    Anil Manghnani , Modern Shares and Stockbrokers said that the market has fallen over a 1000-points in the last five or six trading sessions, so probably a technica

  • BBVA & Finacle from Infosys sign global partnership

    28th May, 2008 16:24

    BBVA and Infosys Technologies announced that BBVA, one of the top 15 banks in the world, will implement Finacle Universal Banking Solution. The bank, which has sig

  • ITC has resistance at Rs 232-239: Manghnani 

    28th May, 2008 16:18

    Anil Manghnani of Modern Shares & Stock Brokers is of the view that for ITC Rs 232 or the January top of Rs 239, that range should prove to be quite a resistance.

  • Book profits in technology stocks: Manghnani 

    28th May, 2008 16:15

    Anil Manghnani of Modern Shares & Stock Brokers is of the opinion that one should book profits in technology stocks. Most of the stocks have rallied anywhere betwe

  • Liquidity Adjustment Facility: Auction Results

    28th May, 2008 16:00

    Liquidity Adjustment Facility: Auction Results. The results of the RBI Repo/Reverse Repo auctions held on May 27, 2008.

  • Results of auctions of SDL, 2018 for 5 State Govts

    28th May, 2008 15:54

    Results of auctions of State Development Loans, 2018 for five State Governments.

  • RBI cancels CoR of Akhil Sanghi Finance Pvt Ltd

    28th May, 2008 15:46

    Reserve Bank cancels Certificate of Registration of M/s. Akhil Sanghi Finance Private Limited. By the powers conferred under Section 45-IA (6) of the Reserve Bank

  • RBI cancels CoR of Electra Financial Services Ltd

    28th May, 2008 15:39

    Reserve Bank cancels Certificate of Registration of M/s. Electra Financial Services Limited. Following cancellation of the registration certificate, M/s. Electra F

  • Expect 25-30% upside in Tech Mahindra: P Sekhar 

    28th May, 2008 15:19

    P Phani Sekhar of Angel Broking is of the view that one can expect 25-30% upside in Tech Mahindra.

  • Pyramid Saimira to end yr with 1300-plus screens  

    28th May, 2008 15:13

    PS Saminathan, MD, Pyramid Saimira Theatre said that this year, they are consolidating their business. "We will be ending up by around 1,300 to 1,400 screens by '0

  • M&M Group revenues touch USD 6.7bln in F2008

    28th May, 2008 15:11

    M&M Group gross revenues and other income for the year ended 31st March 2008 grew by 37.0% to Rs 26600.1 crores (USD 6.7 billion) from Rs 19417.5 crores (USD 4.5 b

  • Nagarjuna Fertilisers gains further ground

    28th May, 2008 15:00

    At 2:50 pm, Nagarjuna Fertilisers and Chemicals was quoting at Rs 49.25, up Rs 3.70, or 8.12%. It has touched an intraday high of Rs 49.30 and an intraday low of R

  • Crompton Greaves takes a dip

    28th May, 2008 14:55

    At 2:45 pm, Crompton Greaves was quoting at Rs 229.10, down Rs 15.4, or 6.3%. It has touched an intraday high of Rs 248 and an intraday low of Rs 228.65. It was tr

  • M&M FY08 cons net sales up 34.95% at Rs 23774..7 cr 

    28th May, 2008 14:52

    M&M has announced its Q4 and FY08 numbers. It has posted FY08 consolidated net profit of Rs 1571.1 crore as against Rs 1497.2 crore in same period of last year, a

  • Buy Tata Motors, target of Rs 752: Angel

    28th May, 2008 14:48

    Angel Broking has maintained its buy rating on Tata Motors with a price target of Rs 752. For 4QFY2008, Tata Motors is expected to post net sales of Rs 8,612 crore

  • Upmove in markets led by IT, FMCG, metal space 

    28th May, 2008 14:44

    The day has been ordinary but the last hour or so of trade has not been too bad. So the result is that we have had a late upmove in the market which has taken us b

  • IVRCL Infra declares result, stk up

    28th May, 2008 14:41

    At 2:30 pm, IVRCL Infrastructure and Projects was quoting at Rs 390, up Rs 10.25, or 2.70%. The company's Q4 net profit was up at Rs 73.3 crore from Rs 73 crore, r

  • M&M FY08 OPM at 11.6% vs 12.5% 

    28th May, 2008 14:38

    Mahindra and Mahindra, M&M has announced its Q4 and FY08 numbers. It has posted FY08 consolidated net profit of Rs 1571.1 crore as against Rs 1497.2 crore in same

  • Balrampur Chini makes sweet gain

    28th May, 2008 14:36

    At 2:27 pm, Balrampur Chini Mills was quoting at Rs 92, up Rs 4.05, or 4.60%. It has touched an intraday high of Rs 92.40 and an intraday low of Rs 87.70. It was t

  • IVRCL Infra Q4 net profit up at Rs 73.3 cr

    28th May, 2008 14:35

    IVRCL Infrastructure and Projects has announced its fourth quarter results. The company's Q4 net profit was up at Rs 73.3 crore from Rs 73 crore.

  • Buy Bajaj Electricals, target of Rs 639: Angel

    28th May, 2008 14:29

    Angel Broking has maintained its buy rating on Bajaj Electricals with a target price Rs 639. Bajaj Electricals reported its 4QFY2008 numbers. For the quarter, the

  • Hughes enables core banking across 400 branches of UBI

    28th May, 2008 14:24

    Hughes Communications India Ltd announced that it has deployed a satellite broadband network for Union Bank of India for running the formers Core banking solution

  • ITC advances 4%

    28th May, 2008 14:19

    At 2:09 pm, ITC was quoting at Rs 217.55, up Rs 8.45, or 4.04%. It has touched an intraday high of Rs 218.20 and an intraday low of Rs 210. It was trading with v

  • Equity as asset class yet to grow in EMs: Barclays 

    28th May, 2008 14:17

    Satya Bhansal, Chief Executive, Barclays Wealth India said that the asset mix of the client portfolio largely depends on his ability to carry the risk. He said tha

  • Avoid sugar space: Mohoni 

    28th May, 2008 14:14

    Technical Analyst, Deepak Mohoni is of the view that one should ignore sugar space.

  • HDFC Bank has support at Rs 1250-1255: Gujral 

    28th May, 2008 13:59

    Technical Analyst, Ashwani Gujral is of the view that HDFC Bank has support at Rs 1250-1255.

  • Hold HDFC Bank, says R Shah 

    28th May, 2008 13:53

    Rajen Shah of Angel Broking is of the view that one can hold HDFC Bank. It is certainly not a best bet because inflation is not good for banking stocks. With high

  • AeNwis launches open2save- online venture for retail inds

    28th May, 2008 13:46

    AeNwis e-Systems, India’s first multi-channel Target Marketing and Promotions Management service, has announced the launch of ‘open2save’, an innovative new online

  • IOC Q4 net loss at Rs 414.3 cr

    28th May, 2008 13:41

    IOC has announced its Q4 and FY08 numbers. It has posted Q4 net loss of Rs 414.3 crore as against profit of Rs 1,609.67 crore in same period of last year. Net sale

  • asklaila’s local info srvc is available via SMS 58989, WAP

    28th May, 2008 13:37

    asklaila (www.asklaila.com), India’s first local information service today announced the launch of its mobile search service. asklaila’s mobile search allows consu

  • VITS introduces Anti-Jet Lag Program

    28th May, 2008 13:28

    VITS Luxury Business Hotel chain has introduced the “Anti-Jet Lag Program” with the needs and comfort of today's travelers in mind. Jet lag is a common phenomenon

  • Kotak Mahindra appoints Hasan Askari as Advisor

    28th May, 2008 13:18

    The Kotak Mahindra Group, one of India’s leading banking and financial services organisations, announced the appointment of Mr. Hasan Askari as an Advisor to the G

  • Opto Circuits to set up mfg facility in SEZ soon 

    28th May, 2008 13:05

    Vinod Ramnani, CMD, Opto Circuits said that currently the company is developing a lot of new products and a few more products are in the pipeline. Also the company

  • Visa Steel to double topline in FY09 

    28th May, 2008 12:53

    Visambhar Saran, CMD, Visa Steel hopes to more than double its topline for FY09. He plans to phase out trading which had added to 46% of the revenues last year. Th

  • Visa Steel Q4 net profit up at Rs 21 cr

    28th May, 2008 12:46

    Visa Steel has decalred its fourth quarter results. The company's net profit was up at Rs 21 crore from Rs 0.65 crore.

  • India will grow at a rate of 8.5-10% in near future:Kamath

    28th May, 2008 12:40

    Mr. K V Kamath, President, CII in a press conference in Kolkata today stated that India will grow at a rate of 8.5% - 10% in the near future. He stated that a huge

  • DLF can slip further: R Shah 

    28th May, 2008 12:35

    Rajen Shah of Angel Broking is of the view that DLF could even slip down further from here to about Rs 525-540 levels and that would be the time may be to look at

  • DLF may slip to Rs 530-540: Gujral 

    28th May, 2008 12:29

    Technical Analyst, Ashwani Gujral is of the view that in DLF one can see more down side in the short run, probably all the way upto Rs 530 to Rs 540. It is not a s

  • The United India Insurance & HMSI signs MOU

    28th May, 2008 12:15

    The United India Insurance Company Limited and Honda Motorcycle & Scooter India Pvt. Ltd. signed a MOU. With this tie-up United India Insurance, will provide value

  • eSys launches Divoom COMET-A1 home theater system

    28th May, 2008 12:05

    eSys Information Technologies, a leading IT distribution major globally and in India, introduced eSys Divoom COMET-A1 home theatre system that offers true multi-ch

  • BHEL tumbles 3.5%

    28th May, 2008 11:58

    At 11:48 am, Bharat Heavy Electricals, BHEL was quoting at Rs 1,600, down Rs 58.2, or 3.51%. It has touched an intraday high of Rs 1,684 and an intraday low of Rs

  • Cairn India loses further ground

    28th May, 2008 11:55

    Cairn India has slipped further today. At 11:45 am, the share was quoting at Rs 288.00, down Rs 10.35, or 3.47%. It was trading with volumes of 1,236,689 shares. Y

  • Why SEWA doesn't want to be a 'good' NGO?

    28th May, 2008 11:51

    The acronym of the Self-Employed Women’s Association adds up to ‘SEWA’ which in most Indian languages means service. In Ahmedabad 36 years ago, Ela Bhatt started t

  • Buy Bhushan Steel, target of Rs 1016: Hem

    28th May, 2008 11:42

    Hem Securities has recommended a buy rating on Bhushan Steel with a target of Rs 1016. The company has posted the compounded annual growth rate of 16.16% in top li

  • Pyramid Saimira declares results, stk up

    28th May, 2008 11:34

    At 11:23 am, Pyramid Saimira Theatre was quoting at Rs 358.30, up Rs 12.25, or 3.54%. The company's FY08 standalone net profit was at Rs 53 crore versus Rs 13.4 cr

  • See Dow at 20k by 2011, more subprime woes: Knight Equity  

    28th May, 2008 11:26

    Ralph Acampora, Chief Technical Analyst, Knight Equity Markets, sees the Dow trading at 20,000 by 2011. He thinks the US still has to unwind some of the excesses t

  • Brokers bullish on Gati, Ultratech Cement

    28th May, 2008 11:22

    Brokerage houses are bullish on Gati, Ultratech Cement, Emami and Hindalco.

  • Buy Aegis Logistics, target of Rs 320: Karvy

    28th May, 2008 11:13

    Karvy Stock Broking has revised its rating on Aegis Logistics from outperformer to buy with a target price of Rs 320. Karvy expects net profit to increase by 59.2%

  • ACC can touch Rs 685-690: Mathew 

    28th May, 2008 11:07

    Technical Analyst, E Mathew is of the view that ACC can touch Rs 685-690.

  • 20 Micron plans Rs 40 crore public issue

    28th May, 2008 10:58

    The Vadodara-based 20 Micron Ltd (20 ML), having one of the largest production facilities for white minerals in India, is planning to enter the capital market in t

  • Unitech-Lehman to ink shareholder pact for PE deal: Srcs

    28th May, 2008 10:52

    Unitech will sign a shareholder pact with Lehman Brothers for private equity deal next week, reports CNBC-TV18. Sources said that Lehman will invest in two project

  • Cairn India dips further

    28th May, 2008 10:45

    Cairn India has continued to down. At 10:35 am, the share was quoting at Rs 289.85, down Rs 8.5, or 2.85%. It was trading with volumes of 681,434 shares. Yesterday

  • Tata Motors to consider raising long-term funds, stk down

    28th May, 2008 10:39

    At 10:35 am, Tata Motors was quoting at Rs 615.50, down Rs 15.9, or 2.52%. The company is going to declare its results today. In the board meet the company will co

  • SBI may slips to Rs 1380-1390: Mathew 

    28th May, 2008 10:32

    Technical Analyst, E Mathew feels that if State Bank of India, SBI broke Rs 1440 then it may slip to Rs 1380-1390. And it is a great buying opportunity at Rs 13080

  • Unitech to sign share holder agreement with Lehman, stk up

    28th May, 2008 10:15

    At 10:11 am, Unitech was quoting at Rs 253.25, up Rs 5.05, or 2.03% on the NSE. The company is likely to sign share holder agreement with Lehman for a private equi

  • Crude touches USD 128.10/bbl on the lower side 

    28th May, 2008 10:10

    There has been a bit of sell off in the market today as well as the Indian market is open today. Crude prices yesterday declined 3% from USD 133.5/bbl of a high to

  • Nifty has support at 4840-4830: Angel

    28th May, 2008 09:52

    According to Angel Broking Technical Analysis report, on the higher side, 16,500 – 16,626 / 4920 – 4930 levels may act as a resistance. The immediate support level

  • Nifty may correct upto 4827: Angel

    28th May, 2008 09:45

    According to Angel Broking Market Outlook report, if Nifty trades below 4879 for the first half-an-hour of trade then it may correct upto 4827.

  • US mkts end with moderate gain 

    28th May, 2008 09:43

    A late rally on Wall Street, the Dow closed up almost 69 points, the S&P 500 gained 9.5 and the Nasdaq added 36.5 points. Mixed news on housing, sales of existing

  • Short covering may emerge: Karvy

    28th May, 2008 09:43

    According to Karvy Stock Broking Technical Analysis report, Short covering may emerge in view of the impending expiry on Thursday.

  • Mkts getting into a rut; could have a flattish session 

    28th May, 2008 09:37

    The markets have got into a bit of a sticky situation this week. The first couple of days have not been good and today it is just completely flat globally. The mar

  • Mkts end higher, rally led by FMCG, banks, IT, metal stks

    28th May, 2008 09:35

    It was a strong rebound for the markets in late trade after choppy session for major part of the day since morning and broken losing streak of last three consecuti

  • Nifty May futures shed 17.5 lakh shrs in OI 

    28th May, 2008 09:32

    FIIs have net sold Rs 234 crore in Nifty futures while net bought of Rs 319 crore in Nifty options. Nifty May futures shed 17.5 lakh while June futures added 33 la

  • No big problem in sugar 

    28th May, 2008 09:30

    There is no big problem in sugar. The one issue is that there is lose correlation between crude prices and where sugar stocks move because of the ethanol factor, I

  • Mkts may see volatility

    28th May, 2008 09:19

    Most European indices declined last night, while the US indices closed higher. Asian markets have been moving in and out of the red, and are little changed. There

  • Avoid Niraj Cement's IPO: Hem

    28th May, 2008 09:16

    Niraj Cement Structurals' issue has opened for subscription with its initial public offering (IPO) of 32,50,000 equity shares of face value Rs 10 each. Hem Securit

  • Tata Motors Q4 net seen down 8% at Rs 530 cr

    28th May, 2008 09:09

    Tata Motors is to announce its Q4FY08 numbers. According to CNBC-TV18 estimates, the company is expected to post degrowth of 8% in its standalone net profit of Rs

  • Money calls: Venkatraman, Subramanium

    28th May, 2008 09:02

    In the bond market, auction outflows and tighter liquidity would ensure pressure on yields, says Venkatraman.

  • Nifty likely to witness range of 4800-4915

    28th May, 2008 09:00

    The coming session is likely to witness a range of 4800 on declines and 4915 on advances. The 4880 level will be the bearish pivot below which the markets are like

  • Nifty has resistance at 4940

    28th May, 2008 08:56

    The support for the Nifty is at 4782 and resistance to the up move at 4940.

  • F&O cues: Futures Open Interest up by Rs 750 cr

    28th May, 2008 08:53

    F&O cues: Nifty May Futures shed 17.5 lakh shares in Open Interest. Futures Open Interest up by Rs 750 crore and Options Open Interest up by Rs 1,065 crore.

  • Market cues: FIIs net sell $276.4 mn

    28th May, 2008 08:48

    Market cues: FIIs net sell $276.4 mn. MFs net buy Rs 51.6 cr in equity on May 26.

  • Fund Action witnessed in stocks on 27th May

    28th May, 2008 08:39

    On May 27, fund action was witnessed in Radha Madhav, Man Industries and Horizon Infrastructure.

  • Asian markets end mixed

    28th May, 2008 08:37

    Asian markets ended mixed. Hang Seng was down 0.13% or 32.53 points at 24,249.51. Nikkei 225 Average fell 1.32% or 183.87 points at 13,709.44. Seoul Composite lost

  • Indian ADRs: Satyam up 3.3%, ICICI Bk down 4.2%

    28th May, 2008 08:34

    Indian ADRs: Satyam, Wipro, Infosys, Patni. Tata Comm and Dr Redd's gained, while ICICI Bank, MTNL, HDFC Bank and Tata motors slipped.

  • US mkts end higher; Dow up 69 points

    28th May, 2008 08:29

    The US markets closed with solid gains, led by technology companies and a sharp drop in crude oil prices. New-home sales rose in April, marking the first increase

  • SRF acquires nylon tyre cord co in Thailand

    28th May, 2008 08:22

    Tyre cord maker SRF Ltd on Tuesday announced acquisition of Thai Baroda Industries Ltd (TBIL), a Thailand-based tyre cord company with an annual production capacit

  • MF NAVs decline sharply as markets plunge

    28th May, 2008 00:00

    Equity diversified NAVs ended lower with negative advance:decline ratio of 7:192 as the markets have closed on a weak note. The Sensex was down 72.91 points or 0.4

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