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Moneycontrol News Archive : 29 May, 2008

  • Satyam confident on Upaid case victory

    29th May, 2008 22:00

    Ramalinga Raju, Chairman, Stayam Computer Services Ltd does not see any signs of a protracted US slowdown yet. He is confident about victory in the Upaid case. He

  • RBI ups bank credit exposure limits for PSU oil cos

    29th May, 2008 20:58

    The Reserve Bank of India, or RBI, has upped the bank's credit exposure limit for public sector oil companies, reports CNBC-TV18. "Banks can lend 25% of capital fu

  • Arena Animation opens new center at Mohali

    29th May, 2008 20:02

    Arena Animation opens new center at Mohali. The center is equipped with state-of-the-art labs to train students on the latest Animation & Special Effects.

  • FII, sub-accounts registration made easy  

    29th May, 2008 19:18

    Market regulator Sebi has revised the registration guidelines for FIIs. Institutions set up by non-resident Indians can now register as FIIs and invest in the Indi

  • CIL wins accolades at several International Wine Awards

    29th May, 2008 18:57

    Champagne Indage wins accolades at several International Wine Awards. It has bagged several awards and commendations at three world-renowned and acknowledged wine

  • RBI-Sebi unveil norms on exchange-traded FX futures

    29th May, 2008 18:28

    The RBI-Sebi panel has submited its report on exchange-traded forex futures to the government. In its report, the panel says that any existing or new exchanges nee

  • Rupee, Bonds end lower

    29th May, 2008 18:01

    The spot rupee closed lower at Rs 42.80 per USD as against its previous close of Rs 42.73. The widely traded 8.24%, 2018 paper ended lower at Rs 100.94 as against

  • Buy Cummins India; target of Rs 402: ULJK

    29th May, 2008 17:58

    ULJK research has recommended buy raitng on Cummins India with a target price of Rs 402, in its May 28, 2008 report

  • See near-term crude at $122-124/bbl: Karvy Comtrade 

    29th May, 2008 17:37

    Ashok Mittal, VP, Karvy Comtrade expects further downside in crude and is looking at USD 122-124 per barrel in the near-term. He told CNBC-TV18 that there may be a

  • 91 day Treasury Bills: Auction Result

    29th May, 2008 17:00

    91 day Treasury Bills: Auction Result. Date of Auction: May 28, 2008

  • Headstrong inaugurates its new CoE in Hyderabad

    29th May, 2008 16:56

    Headstrong enters Hyderabad, aligns itself with a vision to be the best in Financial Services domain consulting.Headstrong, a global consultancy and IT solutions f

  • IOC just turned into red reporting losses for Q4: Khandwala

    29th May, 2008 16:43

    According to Khandwala Securities' Oil Sector Update, IOC just turned into red reporting losses for 4QFY08.

  • See Sensex consolidating around 15,800: Karvy 

    29th May, 2008 16:38

    Ambareesh Baliga, Karvy Stock Broking, sees the Sensex trading closer to around 15,600 to 15,800. At those levels, he feels, there should be some amount of consoli

  • Cement export ban lift positive for sector: Karvy

    29th May, 2008 16:33

    Karvy Stock Broking has come out with its report on Cement Sector. The research firm believes virtually government has lifted the cement export ban from cement ind

  • Liquidity Adjustment Facility: Auction Results

    29th May, 2008 16:30

    Liquidity Adjustment Facility: Auction Results. The results of the RBI Repo/Reverse Repo auctions held on May 28, 2008.

  • Downtrend for Banking, Financial stocks: Bose 

    29th May, 2008 16:22

    Technical Analyst, Rajat K Bose expects downtrend for banking and financial stocks.

  • Buy IFCI at Rs 57-58: Baliga 

    29th May, 2008 16:13

    Ambareesh Baliga of Karvy Stock Broking is of the view that one can buy IFCI at Rs 57-58 and sell it at Rs 67-69.

  • Are India's competition regulations corporate-friendly? 

    29th May, 2008 15:41

    There is no denying that the competition regime in this country needs robust rules that prevent the creation of monopolies which will ensure a level playing field.

  • ICICI Bank topples

    29th May, 2008 15:19

    At 3:09 pm, ICICI Bank was quoting at Rs 792, down Rs 28.2, or 3.44%. It has touched an intraday high of Rs 832.70 and an intraday low of Rs 785. It was trading wi

  • NTPC among major losers

    29th May, 2008 15:16

    NTPC is among major losers on the Sensex. At 3:05 pm, the share was quoting at Rs 169.60, down Rs 7.15, or 4.05%. It has touched an intraday high of Rs 178.65 and

  • TravelOrg Holidays introduces Signature Crest apartments

    29th May, 2008 15:10

    TravelOrg Holidays Pvt. Ltd., the leading solutions provider in the business of specialized tourism today introduced Signature Crest apartments in Shimla and Musso

  • Voltas has target of Rs 225: G Shah

    29th May, 2008 15:09

    Gaurang Shah of Geojit Financial Services is of the view that Voltas has target of Rs 225. It is also got presence in Middle East and is also the largest selected

  • IFCI remains on the top of list with 70% of roll over 

    29th May, 2008 15:04

    IFCI remains on the top of the list with 70% of roll over and it has added around 1.36 crore shares in June series and remember when the news came in it was only a

  • How to play Reliance Power now? 

    29th May, 2008 15:04

    In the cash market there is one strategy, which every one is playing on in Reliance Power, which is buying in the cash market and selling on the ex date.

  • Total borrowings of GIPC is Rs 550 cr

    29th May, 2008 15:00

    GIPC's total borrowings of Rs 550 crores to Rs 560 crores and average rate of borrowing is 8.6%. It has sanctioned loan of Rs 180 crore out of which 100 crore for

  • Ipca Labs FY08 net up at Rs 141 cr

    29th May, 2008 14:56

    Ipca Laboratories has announced its FY08 results. Its FY08 net profit was up at Rs 141 crore versus Rs 122 crore.

  • Dell unveils Virtualization Blockbuster

    29th May, 2008 14:50

    Dell today announced its broadest lineup of dedicated virtualization solutions ever. More than a dozen new servers, tools, and services simplify the deployment and

  • Tasaa Netcom to promote Sage Accpac ERP in Mumbai region

    29th May, 2008 14:41

    In a bid to widen its market coverage in the SME and Mid-market enterprise segments, business applications company Sage has signed a Partner agreement with Tasaa N

  • Bartronics to provide smart cards for Bihar’s health scheme

    29th May, 2008 14:34

    Bartronics India Limited, the leading provider of end-to-end solutions based on AIDC technologies, has been selected as the preferred service provider for the impl

  • Apollo Tyres up on huge volume

    29th May, 2008 14:34

    At 2:23 pm, Apollo Tyres was quoting at Rs 44, up Rs 2.95, or 7.19%. It has touched an intraday high of Rs 44.50 and an intraday low of Rs 41.10. It was trading wi

  • Solid gains for Bhushan Steel

    29th May, 2008 14:27

    At 2:15 pm, Bhushan Steel was quoting at Rs 870, up Rs 73.95, or 9.29%. It has touched an intraday high of Rs 877.55 and an intraday low of Rs 805. It was trading

  • CRISIL assigns 2/5 grade to IPO of Microsec Financial Srvs

    29th May, 2008 14:24

    CRISIL has assigned a CRISIL IPO Grade "2/5" (pronounced "two on five") to the proposed initial public offer of Microsec Fiancial Services Ltd. This grade indicat

  • Breakeven for Rel Power retail investor at Rs 268.75 

    29th May, 2008 14:14

    R Power issue price was Rs 450 and retail shareholder was given at Rs 430. In that sense, the breakeven point for retail investor would be Rs 268.75.

  • Bullish on HDFC Bk & PNB: Prabhudas Lilladher 

    29th May, 2008 14:07

    Abhijit Mazumdar of Prabhudas Lilladher said the company is bullish on HDFC Bank, Axis Bank, PNB and BoB. He stated that Axis Bk is a buy in the range of Rs 750, H

  • Orderbook above Rs 53K cr, no impact of eco slowdown: L&T 

    29th May, 2008 14:00

    AM Naik, CMD, Larsen and Toubro said margins are up by 1%. He told CNBC-TV18 that L&T will continue to grow at 30-35%. He added that the company has an order backl

  • L&T's net profit for the year surges 55%

    29th May, 2008 13:39

    L&T ‘s net profit for the year surges 55%. The Gross Sales & Service revenue registered a y-o-y growth of 40.7% at Rs. 25187 crore. The share of revenue from inter

  • Oil cess, duty cut on anvil to bailout OMCs 

    29th May, 2008 13:26

    Murli Deora will meet the Prime Minister today on oil prices. CNBC-TV18’s Shereen Bhan said there may be a price hike, a cess or duty rationalization. The Petroleu

  • CA reports Q4 revenue up 8% to $ 1.085bn

    29th May, 2008 13:11

    CA reports Fourth quarter revenue up 8 percent to $1.085 billion. Total revenue for the fourth quarter was $1.085 billion, up 8%, or 2% in constant currenc

  • Input cost inflation big challenge for Britannia 

    29th May, 2008 13:05

    Britannia Q4 Standalone net sales stood at Rs 692 crore as against Rs 599.2crore in the last year. The net pofit stood at Rs61 crore as against 39.8 crore in the p

  • Satyam Computer hits 52-week high

    29th May, 2008 12:58

    Satyam Computer Services has touched a 52-week high of Rs 531. At 12:47 pm, the share was quoting at Rs 530, up Rs 15.60, or 3.03%. It was trading with volumes of

  • SREI Sahaj to create IT rural infrastructure project

    29th May, 2008 12:50

    SREI Sahaj e-Village Ltd., a subsidiary of SREI Infrastructure Finance Ltd. has embarked on the largest rural IT Infrastructure project in the country with an esti

  • JB Group launches Falafel’s Veg Hummus House in India

    29th May, 2008 12:49

    JB Group launches Falafel’s Veg Hummus House in India. JB N JEG Foods Pvt. Ltd., has launched vegetarian, Mediterranean, fresh cuisine through its Falafel’s Veg Hu

  • L&T FY08 net profit stood at Rs 2325.36 cr

    29th May, 2008 12:44

    L&T has announced its FY08 and fourth quarter results. The company's Q4 net profit was up at Rs 967 versus 707.7 crore.

  • HPCL Q4 net profit at Rs 384.5 crore

    29th May, 2008 12:37

    Hindustan Petroleum Corporation has announced its fourth quarter results. The company's Q4 net profit was down at Rs 384.5 crore from Rs 549.5 crore, YoY.

  • Bajaj Hindusthan slips on profit booking

    29th May, 2008 12:29

    At 12:19 pm, Bajaj Hindusthan was quoting at Rs 195.70, down Rs 6.05, or 3%. It has touched an intraday high of Rs 204.75 and an intraday low of Rs 194.65. It was

  • Glenmark Pharma gushes forth

    29th May, 2008 12:21

    At 12:10 pm, Glenmark Pharma was quoting at Rs 688, up Rs 24.85, or 3.75%. It has touched an intraday high of Rs 693 and an intraday low of Rs 665.90. It was tradi

  • Chambal Fert continue to be into limelight: R Shah 

    29th May, 2008 12:20

    Rajen Shah of Angel Broking is of the view that Chambal Fertilisers is continue to be remain into limelight.

  • Buy Praj Industries, target of Rs 241: Hem

    29th May, 2008 12:14

    Hem Securities has recommended a buy rating on Praj Industries with a target price of Rs 241. The company has posted outstanding results for the year ended March 2

  • VISA Steel posts revenue growth of 78% to Rs 259.66cr

    29th May, 2008 12:09

    VISA Steel has registered excellent growth in financial performance with a revenue growth of 78% to Rs. 259.66 Crores, increase in EBIDTA by 236% to Rs. 44.26 Cr

  • PSU banks likely to outperform: R Shah 

    29th May, 2008 12:04

    Rajen Shah of Angel Broking feels that PSU banks are likely outperform the Sensex over the next 12 months.

  • Post IPO, Aries Agro board announces interim dividend

    29th May, 2008 12:01

    The Board of Directors of Aries Agro Ltd, which went public this year, has announced an interim dividend of 12% i.e. Rs.1.20 per share of Rs.10 each for the financ

  • Fertilizer space looks promising over next 2 yrs: Enam 

    29th May, 2008 12:00

    According to Kashyap Pujara fertiliser is one space where with the rising international prices; incrementally over last seven-tern years there is hardly any invest

  • Honda completes a year of partnership with ICICI Lombard

    29th May, 2008 11:54

    HONDA celebrates completion of a successful year of partnership with its preferred insurance partner ICICI Lombard

  • Bajaj Hindusthan has support at Rs 180-185: Gujral

    29th May, 2008 11:46

    Technical Analyst, Ashwani Gujral is of the view that Bajaj Hindusthan has support at Rs 180-185.

  • IFCI to consider induction of strategic investor, stk rises

    29th May, 2008 11:43

    At 11:37 am, IFCI was quoting at Rs 62, up Rs 3.50, or 5.98%. It has touched an intraday high of Rs 62.15 and an intraday low of Rs 58. The company has board meet

  • Allahabad Bank takes a dip

    29th May, 2008 11:38

    At 11:28 am, Allahabad Bank was quoting at Rs 81.80, down Rs 3, or 3.54%. It has touched an intraday high of Rs 83.50 and an intraday low of Rs 81.60. It was tradi

  • India to slow down further in short-to-medium term: MS 

    29th May, 2008 11:35

    The correction in Indian market could happen relatively fast. The higher inflation and slower growth will signal stagflation in India. Indian economy is likely to

  • Buy HDIL, target of Rs 2040: ICICI Securities

    29th May, 2008 11:29

    ICICI Securities has maintained its strong buy rating on Housing Development and Infrastructure with a target price of Rs 2040. The research firm expects the compa

  • BPCL marches ahead

    29th May, 2008 11:28

    At 11:23 am, Bharat Petroleum Corporation, BPCL was quoting at Rs 372.75, up Rs 14.30, or 3.99%. It has touched an intraday high of Rs 374 and an intraday low of R

  • Reliance Comm top gainer on the Sensex

    29th May, 2008 11:16

    Reliance Communications is the top gainer on the Sensex. At 11:06 am, the share was quoting at Rs 570.50, up Rs 18.90, or 3.43%. It was trading with volumes of 815

  • Jubilant completes acquisition of Draxis for US$ 253mn

    29th May, 2008 11:15

    Jubilant Organosys Ltd., an integrated pharmaceutical industry player and India’s largest Custom Research and Manufacturing Services Company announced today that i

  • Monsanto India Q4 net profit at Rs 12.55 cr

    29th May, 2008 11:08

    Monsanto India has declared its results for the quarter ended March 2008 (Q4). The company's Q4 net profit stood at Rs 12.55 crore versus loss of Rs 1.72 crore on

  • Buy Redington, tgt Rs 445: PINC

    29th May, 2008 11:07

    PINC has maintained buy rating on Redington with target price of Rs 445. We continue to be positive on Redington’s prospects in light of its initiatives to reduce

  • March elections to suit opposition: Analysts 

    29th May, 2008 10:58

    Rajdeep Sardesai , Editor-in-Chief, IBN believes that there is room for manoeuvre on inflation by the government. Rajdeep is of the view that the government may ha

  • Harrisons Malyalam Q4 net loss at Rs 48 lakh

    29th May, 2008 10:55

    Harrisons Malyalam has declared its results for the quarter ended March 2008 (Q4). The company's Q4 net loss was at Rs 48 lakh versus profit of Rs 1.99 crore.

  • Welspun Gujarat makes strong gain

    29th May, 2008 10:43

    At 10:33 am, Welspun Gujarat Stahl Roh was quoting at Rs 371, up Rs 12.05, or 3.36%. It has touched an intraday high of Rs 372 and an intraday low of Rs 361. It wa

  • Some pain in banking space: M Khanna 

    29th May, 2008 10:37

    Muneesh Khanna, Chairman, Anagram Securities feels that there is some pain left in banking stocks. They haven't yet bottom out.

  • Chambal Fertilisers can test Rs 150: Gujral 

    29th May, 2008 10:31

    Technical Analyst, Ashwani Gujral is of the view that if Chambal Fertilisers and Chemicals take out Rs 94.5 then it can test Rs 150. Ambuja Cement has very strong

  • Taro's slip out of Sun Pharma may be negative in mid term 

    29th May, 2008 10:27

    Near-term it may not be too negative from a cash and from returns perspective but in the medium-term the strategic view has to be negative, if Taro is indeed going

  • Sun Pharma top loser on the Nifty

    29th May, 2008 10:23

    Sun Pharmaceutical Industries is the top loser on the Nifty. At 10:19 am, the share was quoting at Rs 1,399.20, down Rs 62, or 4.24%. It was trading with volumes o

  • Brokers bullish on WS Industries, HDIL, Educomp

    29th May, 2008 10:19

    Brokerage houses are bullish on WS Industries, HDIL, Educomp, Opto Circuit, Sintex Ind and GIPCL.

  • Buy Mercator Lines, tgt Rs 240: Networth

    29th May, 2008 10:13

    Networth has maintianed buy rating on Mercator Lines with target price of Rs 240-260. At a current price 110, MLL is trading as 7.3X FY09 earnings and just 4.5X FY

  • Nifty may witness further rally upto 4952– 4985: Angel

    29th May, 2008 10:11

    According to Angel Broking Market Outlook report, if Nifty trades above 4894 level during the first half-an-hour of trade then we may witness a further rally upto

  • Piramal Life Sciences R&D valued at $480-600m 

    29th May, 2008 10:07

    Piramal Life Sc lists @ Rs376.6. Ajay Piramal said that the R&D pipeline of Piramal Life Sciences is valued at USD 480-600 million by three investment bankers.

  • Expect positive opening: Networth

    29th May, 2008 10:01

    According to Networth Stock Broking Market Review report, markets are expected to open on a positive note on account of improved global sentiment.

  • Sun Pharma remains top pick; tgt of Rs 1523: M Stanley

    29th May, 2008 09:51

    Morgan Stanley said the Sun Pharma setback on the Taro front was disappointing given the strategic rationale. Nevertheless the stock still remains their top pic

  • Mkts to play sideways in June: Anagram 

    29th May, 2008 09:47

    Munesh Khanna, Chairman, Anagram Stock Broking said that May did not look that great. He said the market is most likely to play sideways in June. He sees the range

  • Technical bounce to emerge around 16210: Khandwala

    29th May, 2008 09:44

    According to Khandwala Securities Market Preview report, the short term momentum indicators suggested a technical bounce to emerge around 16,210. Yesterday's close

  • Hindustan Dorr-Oliver Q4 net profit at Rs 9.48 cr

    29th May, 2008 09:39

    Hindustan Dorr-Oliver has declared its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was at Rs 9.48 crore versus Rs 6.75 crore.

  • Dr Anji Reddy's back in the lab; floats new co

    29th May, 2008 09:34

    Having created Dr Reddy's labs from scratch two decades ago, Dr K Anji Reddy will take one more shot at entrepreneurship. This time Dr Reddy and his close researc

  • Nifty ends below 4850; auto,bank,oil & gas plunge

    29th May, 2008 09:31

    Markets closed in red after a good morning start. During the day’s trade, it was trading almost volatile and suddenly slipped before the last half hour, as trade w

  • Emami Q4 net profit at Rs 34.95 cr

    29th May, 2008 09:26

    Emami has declared its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was at Rs 34.95 crore versus Rs 22.49 crore.

  • Mkt wide rollover at 62% vs 61% seen on D-1 of last expiry 

    29th May, 2008 09:15

    FIIs net bought 23 crores in Nifty futures, net bought Rs 643 crore in Nifty options. Nifty May futures shed 41 lakh, June futures added 62 lakh shares in Open Int

  • Godrej Industries FY08 cons PAT at Rs 168 cr

    29th May, 2008 09:11

    Godrej Industries has announced its consolidated results for FY08. The company's FY08 consolidated PAT was at Rs 168 crore.

  • Buy MCX June Gold at Rs 12373

    29th May, 2008 09:00

    I am positive on gold and crude today. For gold, one could buy MCX June at Rs 12,373 per 10 grams, with a target of Rs 12,622 per 10 grams, says Kumar.

  • Asian mkts will continue to outperform US: Asia Pac AM 

    29th May, 2008 08:59

    James Chirnside, CIO of Asia Pacific Asset Management said, Asian markets were likely to continue to outperform markets in the West particularly in the US. He adde

  • F&O cues: Futures Open Interest up by Rs 2992 cr

    29th May, 2008 08:56

    F&O cues: Nifty May Futures shed 41 lakh shares in Open Interest. Futures Open Interest up by Rs 2,992 crore and Options Open Interest up byRs 784 crore.

  • Money calls: Bhandari, Thanawala

    29th May, 2008 08:53

    Bond market will open flat today, Could move up 2-3 bps, says Bhandari.

  • Stocks in news: L&T, IOC, Parsvnath

    29th May, 2008 08:51

    Stocks in news: L&T has results today. IOC is likely to sell part of it’s holding in ONGC and Gail to raise funds. Parsvnath may buy 30% in Nano City.

  • Fund Action witnessed in stocks on 28th May

    29th May, 2008 08:46

    On May 28, fund action was witnessed in Indo Tech Transformers, Kohinoor Foods, Koutons Retail, Venus Remedies and Indus Fila.

  • Indian ADRs: Infosys, Satyam, Tata Comm up

    29th May, 2008 08:37

    Indian ADRs: Infosys, Satyam, Wipro, Tata Comm, Patni and Sterlite gained, whilke Dr Reddys slipped.

  • Allahabad Bank focuses on fee income

    29th May, 2008 08:34

    In 2007-08, Allahabad Bank earned Rs 10 crore as commission for selling financial products of other companies —mutual funds and life insurance. For the current yea

  • Tata Power to invest Rs 500 cr for wind power expansion

    29th May, 2008 08:32

    Energy major Tata Power would be adding 115 MW of wind power capacity in the current fiscal at an estimated investment of Rs 500 crore, said Mr S. Ramakrishnan, Ex

  • Asian markets end higher

    29th May, 2008 08:28

    Asian markets ended higher. Japan's Nikkei gained 3.03% or 415.03 points at 14,124.47. Hong Kong's Hang Seng rose 0.55% or 134.48 points at 24,383.99. Taiwan's Tai

  • RBI clears BNP Paribas open offer for Geojit Fin

    29th May, 2008 21:05

    RBI has cleared the BNP Paribas open offer for Geojit Financial, reports CNBC-TV18. Last week, Geojit Financial had shutdown its commodity business to allow the op

  • Crude shock: Why are Indian OMCs struggling? 

    29th May, 2008 20:38

    On May 22, the Indian crude basket hit a record high of USD 129 per barrel. Clearly, oil cos are not geared up to handle such a sharp surge in oil prices. This sha

  • Mkt may touch 4,500 if 4,800 breaks: HDFC Sec 

    29th May, 2008 19:28

    Sanju Verma, ED and Head of Institutional Business, HDFC Securities, said the Nifty could go to 4,500 levels, if 4,800 gets broken. According to Verma, for inflati

  • Govt ups core sector ECB limit to $100m 

    29th May, 2008 19:00

    The govt has raised the External Commercial Borrowings (ECBs) limit for core sectors to USD 100 million. ECB limit for other companies has been raised to USD 50 mi

  • IFCI board to meet again on June 12 

    29th May, 2008 18:53

    IFCI said its board discussed options on strategic investors, optionally convertible debentures, or OCDs, held by government, reports CNBC-TV18. The board will con

  • Better infra sees foreign realty cos rush to H'bad 

    29th May, 2008 18:11

    Foreign realty companies have bet nearly USD 1 billion on Hyderabad in 2007 alone. The city has attracted firms like PBEL, which is a joint venture between two Isr

  • Wealth is natural. Wealth is fun

    29th May, 2008 18:00

    Not everyone has it; but everyone should!

  • Small retail rushes in to capitalise on Rel Power bonus 

    29th May, 2008 17:46

    Corporate bodies and unlisted private companies' allotment have moved up, their market buying has moved up 160% from 90 lakh to 2.3 crore shares. Small retail inve

  • 182 day Treasury Bills: Auction Result

    29th May, 2008 17:18

    182 day Treasury Bills: Auction Result. Date of Auction: May 28, 2008.

  • RBI cancels CoR of Artee Viniyoga Ltd

    29th May, 2008 16:58

    Reserve Bank cancels Certificate of Registration of M/s. Artee Viniyoga Limited. The business of a non-banking financial institution is defined in clause (a) of Se

  • Money Market Operations

    29th May, 2008 16:45

    Financial Markets Department. Money Market Operations.

  • It was not a good end to the May series 

    29th May, 2008 16:40

    It was not a good end to the series. We have closed down the series about 2.7% - most traders did expected it to close around that 5,000 mark but a fair bit of pro

  • Stocks to watch: Chambal Fert, Hanung Toys, Voltas 

    29th May, 2008 16:33

    There was pain in store for the markets today. The indices crumbled under expiry jitters to slip deep into the red. Technical Analyst Rajat Bose of rajatkbose.com

  • Enter in Chambal Fert with stoploss below Rs 84 

    29th May, 2008 16:33

    Technical Analyst, Rajat K Bose is of the view that one can enter in Chambal Fertilisers and Chemicals with stoploss below Rs 84. One should buy a light position a

  • Crude prices have come back from USD 125.96/bbl  

    29th May, 2008 16:25

    It has opened in red for most of these commodities. Crude prices have come back from USD 125.96/bbl of a low that it made in the markets yesterday but barely holdi

  • Avoid Suzlon Energy: Baliga 

    29th May, 2008 16:19

    Ambareesh Baliga of Karvy Stock Broking is of the view that one can ignore Suzlon Energy.

  • Buy Tata Motors around Rs 550-555: Baliga 

    29th May, 2008 16:00

    Ambareesh Baliga of Karvy Stock Broking is of the view that one should buy Tata Motors at around Rs 550-555. If one is looking it at the next 12-15 months scenario

  • Sun Pharma responds to Taro’s purported termination

    29th May, 2008 15:20

    Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) today sent a letter to Barrie Levitt, M.D., Chairman of Taro

  • ITC a market performer: Prabhudas Lilladher

    29th May, 2008 15:17

    Prabhudas Lilladher has revised its rating on ITC from outperformer to market performer. ITC reported net sales growth of 16.7% in Q4FY08 to Rs 39.3 billion, again

  • Buy Hanung Toys with target of Rs 330: G Shah

    29th May, 2008 15:15

    Gaurang Shah of Geojit Financial Services is of the view that one can buy Hanung Toys and Textiles with price target of Rs 330. On the network side it has got roun

  • M&M tumbles 4%

    29th May, 2008 15:09

    At 2:58 pm, Mahindra and Mahindra, M&M was quoting at Rs 615.95, down Rs 25.65, or 4%. It has touched an intraday high of Rs 649.50 and an intraday low of Rs 614.

  • Taro not entitled to terminate merger:Sun Pharma 

    29th May, 2008 15:08

    Sun Pharma said Taro is not entitled to terminate the merger, reports CNBC-TV18, quoting sources. According to the Indian pharma major, the merger offer of USD 10.

  • SBI rolls down

    29th May, 2008 15:04

    At 2:53 pm, State Bank of India was quoting at Rs 1,471.70, down Rs 47.6, or 3.13%. It has touched an intraday high of Rs 1,539 and an intraday low of Rs 1,468. It

  • Yatra.com launches 'Online Ticket Cancellation' service

    29th May, 2008 15:01

    Now cancel your flight bookings online. Only on Yatra.com

  • Have Godrej, Shoppers Stop got its branding right? 

    29th May, 2008 15:00

    Four brands acquired brand new looks: Godrej, CEAT, Arvind Mills and Shoppers Stop. Anand Halve from Chlorophyll said Shoppers Stop has a more limited objective an

  • RCF locked at 5% upper circuit

    29th May, 2008 14:54

    Rashtriya Chemicals and Fertilisers, RCF is locked at 5% upper circuit. At 2:43 pm, the share was quoting at Rs 74.80, up Rs 3.55. It has touched an intraday high

  • Weakening dollar not pushing crude prices up: Mecklai Fin 

    29th May, 2008 14:41

    Jamal Mecklai, CEO, Mecklai Financials & Commercial Services said that the volatility of crude oil when denominated in dollars and when denominated in euro were cl

  • ING Vysya Bank minting money

    29th May, 2008 14:41

    At 2:30 pm, ING Vysya Bank was quoting at Rs 300, up Rs 17.65, or 6.25%. It has touched an intraday high of Rs 302.85 and an intraday low of Rs 282. It was trading

  • Peninsula Land an outperformer: Prabhudas Lilladher

    29th May, 2008 14:34

    Prabhudas Lilladher has rated Peninsula Land as an outperformer with a target price of Rs 129. The company is currently working on five projects in Mumbai, totalli

  • FM concerned over sluggish growth in excise mop-up

    29th May, 2008 14:30

    Finance Minister P Chidambaram said there are concerns over sluggish growth in excise mop-up, reports CNBC-TV18, quoting sources. "There is confidence that the gov

  • Orchid Chem cons FY08 net up at Rs 175.34 cr

    29th May, 2008 14:26

    Orchid Chem has declared its FY08 consolidated results. Its consolidated net profit was up at Rs 175.34 crore versus Rs 78.60 crore, YoY.

  • Buy Rolta India, target of Rs 437: Prabhudas Lilladher

    29th May, 2008 14:18

    Prabhudas Lilladher has maintained its buy rating on Rolta India with a target price of Rs 437. The company management has indicated there is a huge opportunity fo

  • Await policy action on ECB, oil, export fronts: Bharti AXA 

    29th May, 2008 14:13

    Prateek Agrawal, Head–Equities of Bharati Axa Investment Managers expects policymaking on four fronts: ECB relaxation, oil retail price increase, fertiliser policy

  • CRISIL assigns IPO grade 2/5 to Microsec

    29th May, 2008 14:00

    CRISIL has come out with a research report on Microsec Financial Services IPO. It has assigned a CRISIL IPO Grade 2/5 to the company's IPO. Microsec Financial Serv

  • See FY09 under-recoveries at over Rs 2 lakh cr: HPCL 

    29th May, 2008 13:44

    Arun Balakrishnan, CMD, HPCL sees his company's FY09 under-recovery at over Rs 2 lakh crore, assuming the price of crude at USD 120 per barrel. Without a tax write

  • Damac awards Dhs203m contract for Tuscan Residence

    29th May, 2008 13:30

    Damac Properties, luxury lifestyle provider and the region’s largest private sector master developer has appointed Square General Contracting Company LLC as the ma

  • HPCL announces result, stock up

    29th May, 2008 13:14

    At 1:04 pm, Hindustan Petroleum Corporation, HPCL was quoting at Rs 254.40, up Rs 5.40, or 2.17%. It has touched an intraday high of Rs 259.30 and an intraday low

  • Ambuja Cements trips on selling pressure

    29th May, 2008 13:09

    At 1:03 pm, Ambuja Cements was quoting at Rs 100.55, down Rs 3.6, or 3.46% on the Nifty. It has touched an intraday high of Rs 105.90 and an intraday low of Rs 100

  • Air Arabia introduces daily service to Kozhikode

    29th May, 2008 13:00

    Air Arabia, the first and largest low-cost carrier in the Middle East and North Africa, announced the introduction of daily service between Kozhikode and the compa

  • L&T declares dividend, stock gains 7%

    29th May, 2008 12:51

    At 12:46 pm, Larsen and Toubro, L&T was quoting at Rs 2,899.70, up Rs 191.45, or 7.07% on the Nifty. It has touched an intraday high of Rs 2,945.40 and an intraday

  • Buy BHEL, target of Rs 2330: Emkay

    29th May, 2008 12:49

    Emkay Research has maintained its buy rating on Bharat Heavy Electricals with a price target of Rs 2330. Key positive triggers are negotiated orders for 800MW supe

  • Godrej Industries shoots up smartly

    29th May, 2008 12:46

    At 12:35 pm, Godrej Industries was quoting at Rs 274, up Rs 15, or 5.79%. It has touched an intraday high of Rs 277.70 and an intraday low of Rs 263.20. It was tra

  • Britannia Industries reports sales of Rs 25,848mm

    29th May, 2008 12:40

    Britannia Industries Ltd reported sales of Rs. 25,848 MM for the year ended 31st March 2008. This reflects a 17.5% growth over the previous year. Net Profit for th

  • Buy Tata Chemicals, target of Rs 529: Emkay

    29th May, 2008 12:36

    Emkay Research has maintained its buy rating on Tata Chemicals with a revised target price of Rs 529. Emkay believes that TCL is ready to benefit from sharp rally

  • Buy Gwalior Chemical, target of Rs 107: Angel

    29th May, 2008 12:24

    Angel Broking has maintained its buy rating on Gwalior Chemical Industries with a target price of Rs 107. During 4QFY2008, Gwalior Chemical Industries (GCIL) recor

  • JM Financial yearly cons revenues soar by 67%

    29th May, 2008 12:20

    JM Financial yearly consolidated revenues soar by 67%. Total income increased to Rs 742.29 crore from Rs 444.05 crore, up by 67%. Net profit before tax increased t

  • Sun TV Network puts on a good show

    29th May, 2008 12:15

    At 12:04 pm, Sun TV Network was quoting at Rs 332, up Rs 19.80, or 6.34%. It has touched an intraday high of Rs 334.90 and an intraday low of Rs 312. It was tradin

  • Expect 18-20% return in Tata Motors: R Shah 

    29th May, 2008 12:13

    Rajen Shah of Angel Broking is of the view that one can expect 18-20% return in Tata Motors for next two years. It posted an earnings of about Rs 58. For the curre

  • Buy Ess Dee Aluminum, tgt Rs 689: P Lilladher

    29th May, 2008 12:07

    Prabhudas Lilladher has maintained buy rating on Ess Dee Aluminum with target price of Rs 689, implying upside potential of 55%.

  • Dishamn Pharma an outperformer: P Lilladher

    29th May, 2008 12:02

    Prabhudas Lilladher has maintained outperformer rating on Dishman Pharma with target price of Rs 437 inplying upside of 42%

  • Suzlon Energy among major losers

    29th May, 2008 12:00

    Suzlon Energy is among major losers on the Nifty. At 11:58 am, the share was quoting at Rs 278.75, down Rs 10.8, or 3.73%. It has touched an intraday high of Rs 29

  • Cipla to oppose 60 drug patents, stock surges

    29th May, 2008 11:58

    At 11:47 am, Cipla was quoting at Rs 213.75, up Rs 6, or 2.89%. It has touched an intraday high of Rs 214.40 and an intraday low of Rs 208.20. The company is going

  • Lupin in good health

    29th May, 2008 11:49

    At 11:38 am, Lupin was quoting at Rs 686, up Rs 13.90, or 2.07%. It has touched an intraday high of Rs 688 and an intraday low of Rs 670. King Phrama has filed a c

  • Sun Pharma gets notice for termination of merger from Taro

    29th May, 2008 11:45

    Sun Pharma has received a notice from Taro Pharma (TAROF, Pink Sheets) for the termination of its merger agreement.

  • Buy Educomp Solutions, target of Rs 5256: ICICI Securities

    29th May, 2008 11:41

    ICICI Securities has maintained its buy rating on Educomp Solutions with price target of Rs 5256.

  • Tata Chemicals likely to test Rs 600: Gujral 

    29th May, 2008 11:36

    Technical Analyst, Ashwani Gujral is of the view that Tata Chemicals is almost nearing its all time high around Rs 430, in case that has taken out, level of Rs 60

  • Cisco sets new era of Business Mobility in motion

    29th May, 2008 11:34

    Cisco® today announced an evolved architecture that helps empower businesses to meet and exceed mobility demands and move beyond basic wireless networking into the

  • Expect Rs 80-100 upside in TCS: Gujral 

    29th May, 2008 11:29

    Technical Analyst, Ashwani Gujral is of the view that one can expect Rs 80-100 upside in TCS. Satyam also looks good after that sort of negative news . Rs 475-480

  • Piramal Life Sciences Limited now a listed company

    29th May, 2008 11:25

    Piramal Life Sciences Limited, a research and development company recently demerged from Piramal Healthcare Limited, previously known as Nicholas Piramal India Lim

  • Ucal Fuel Systems Q4 net loss at Rs 2.96 cr

    29th May, 2008 11:15

    Ucal Fuel Systems has announced its results for the quarter ended March 2008 (Q4). The company incurred a net loss of Rs 2.96 crore versus profit of Rs 1.2 crore.

  • NALCO may test Rs 700: Gujral

    29th May, 2008 11:09

    Technical Analyst, Ashwani Gujral is of the view that in NALCO one can now keep a stoploss of about Rs 500 and try to see if this gets up to Rs 700 because it move

  • Pyramid Saimira puts on a good show

    29th May, 2008 11:07

    At 10:57 am, Pyramid Saimira Theatre was quoting at Rs 359.50, up Rs 15.75, or 4.58%. It has touched an intraday high of Rs 360 and an intraday low of Rs 345. It w

  • Cairn India has support at Rs 270: Gujral 

    29th May, 2008 11:00

    Technical Analyst, Ashwani Gujral is of the view that Cairn India has support at Rs 270. Once Rs 270 holds up, it can get back to retest Rs 317 and thagain Rs 340.

  • Mphasis can touch Rs 297-317: Gujral 

    29th May, 2008 10:55

    Technical Analyst, Ashwani Gujral is of the view that Mphasis can touch Rs 297-317. It has support at Rs 220. It is making sideways pattern from which it seems to

  • SSI ties up with Unitech and Arihant Found, stk up

    29th May, 2008 10:46

    At 10:34 am, SSI was quoting at Rs 141, up Rs 3.90, or 2.84%. The company has tied up with Unitech and Arihant Foundations for development of property at Chennai,

  • Jindal Steel recovers sharply

    29th May, 2008 10:40

    Jindal Steel & Power has recovered today. At 10:30 am, the share was quoting at Rs 2,264, up Rs 107.50, or 4.98%. It was trading with volumes of 54,089 shares. Yes

  • Buy Gujarat Industries Power, tgt Rs 130: Emkay

    29th May, 2008 10:34

    Emkay research has maintaineds buy rating on Gujarat Industries Power Company with target price of Rs 130. We estimate the topline and EBITDA of the company to gro

  • JM Financial Q4 net profit at Rs 100.06 cr

    29th May, 2008 10:30

    JM Financial has announced its results for the quarter ended March 2008 (Q4). The company's net profit stood at Rs 100.06 crore versus Rs 33.03 crore ((after excep

  • Tata Motors slips nearly 4%

    29th May, 2008 10:26

    At 10:16 am, Tata Motors was quoting at Rs 610, down Rs 24.75, or 3.9%. It has touched an intraday high of Rs 640 and an intraday low of Rs 608.60. It was trading

  • Markets may look for further gains today

    29th May, 2008 10:19

    European indices improved last night, and the US indices also made moderate gains. Asian markets are also up this morning, and the global short-term trend has turn

  • 4,800-4,830 strong support for Nifty: Gujral 

    29th May, 2008 10:15

    Ashwani Gujral, Technical Analyst, feels that 4,800-4,830 is a strong support level for Nifty. "Some sort of bottoming out formation is likely, where Nifty could d

  • Nifty may test 4960-5000: Angel

    29th May, 2008 10:13

    According to Angel Broking Technical Analysis report, indices may test 16610–16712 / 4960–5000 levels.

  • Parsvnath may buy 30% in Nano City, stk up

    29th May, 2008 10:09

    At 09:58 am, Parsvnath Developers was quoting at Rs 207, up Rs 2.10, or 1.02% on the NSE. The company may buy 30% in Nano City , reports CNBC-TV18. It was trading

  • Chambal Fertilisers gains further ground

    29th May, 2008 10:05

    At 10:01 am, Chambal Fertilisers and Chemicals was quoting at Rs 91.35, up Rs 2.85, or 3.22% on the NSE. It has touched an intraday high of Rs 91.90 and an intrada

  • Piramal Lifescience can go upto Rs 500-600 

    29th May, 2008 09:52

    Piramal Lifescience will be a tricky stock to value because one has to value the Research and Development (R&D) pipeline of Piramal Life Sciences. One has to be pr

  • US mkts end higher

    29th May, 2008 09:48

    Stocks see-sawed in and out of positive territory before ending the day higher. The Dow gained 26-points, tech stocks up 5.5-points on the Nasdaq this Wednesday. T

  • Tata Motors a big dilution negative for near-term 

    29th May, 2008 09:46

    Tata Motors given the size of the right’s almost unambiguously near-term negative. It’s very big dilution nearly 35% depending on the price of course and one’s the

  • Expect markets to be upward today: Hem

    29th May, 2008 09:42

    According to Hem Securities Morning Note, Hem expects markets to be upward today. The support for Sensex remains at 16212/16002 levels and resistance at 16683/1696

  • Equity NAVs bounce back as markets gain

    29th May, 2008 09:35

    Equity diversified NAVs bounced back after three straight days of weak closing with a positive advance:decline ratio of 237:20 as the markets rebounded.

  • ICRA Q4 net profit at Rs 8.24 cr

    29th May, 2008 09:33

    ICRA has announced its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was Rs 8.24 crore versus Rs 4.35 crore.

  • Soaring oil prices leave petrol pumps dry 

    29th May, 2008 09:31

    India is beginning to feel the pinch of soaring oil prices. Petrol pumps in Navi Mumbai have gone dry and fuel shortage is leading to long queues in Nashik and Aur

  • Nifty has resistance at 5030: Karvy

    29th May, 2008 09:20

    According to Karvy Stock Broking Technical Analysis report, for Nifty resistances is placed at 5030 levels while intraday support is placed at 4880 levels.

  • Mkt not ready to dip too much now 

    29th May, 2008 09:12

    The May series has not been good. The market is not ready to fall as of now. It may touch the 5000 mark today. This series was not as good as the March and April

  • Rupee opens at Rs 42.74 per dollar

    29th May, 2008 09:04

    The Indian Rupee opened at Rs per dollar versus Rs 42.73 yesterday.

  • Bulls may attempt to recover lost ground

    29th May, 2008 09:00

    The outlook for the markets today is that of cautious optimism as the bulls may attempt to recover lost ground. The overseas cues remaining neutral / positive may

  • Equity calls: Vijay, Mutha 

    29th May, 2008 08:58

    Nifty can bounce back to 5,050 on back of short covering, says Mutha.

  • Market cues: FIIs net sell $87.8 mn

    29th May, 2008 08:54

    Market cues: FIIs net sell $87.8 mn. MFs net sell Rs 94.5 cr in equity.

  • Adani Enterprises Q4 cons net profit at Rs 137.45 cr

    29th May, 2008 08:51

    Adani Enterprises has declared its consolidated results for the quarter ended March 2008 (Q4). The company's consolidated net profit was at Rs 137.45 crore.

  • GMR likely to set up ONGC’s proposed refinery in Kakinada

    29th May, 2008 08:46

    After UK-based Hinduja Group, Reliance Industries (RIL) and Essar Oil, Oil and Natural Gas Corporation’s (ONGC) proposed refinery at Kakinada, has found a new suit

  • EchoStar, AT&T exploring Indian DTH market

    29th May, 2008 08:40

    The Direct-to-Home market, which has four operational players and three more readying for foray, is now attracting international companies.

  • Raj TV to produce movies, start news channel

    29th May, 2008 08:36

    Raj Television Network Ltd plans to produce movies and start a 24-hour news channel. It is seeking private equity to fund the same. Sources in the film industry sa

  • Wall St ends with moderate gain; Dow up 46 pts

    29th May, 2008 08:32

    The US markets ended higher after a volatile session. The move was lead by better-than-forecast durable goods orders and positive financial results from select ret

  • Ranbaxy gets mixed verdict on Pfizer’s Lipitor

    29th May, 2008 08:29

    In a partial victory for Ranbaxy Laboratories in its patent litigation against Pfizer, an Australian court has ruled in favour of the Indian company in a case rela

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