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Moneycontrol News Archive : 30 May, 2008

  • MF NAVs recover smartly as mkts gain

    30th May, 2008 23:56

    Equity diversified NAVs have recovered its earlier losses and ended the day on a positive note with advance:decline ratio of 184:27 as the markets closed higher. M

  • Special mkt operation for oil bonds via banks 

    30th May, 2008 21:26

    RBI has announced a special open-market option, or OMO, via banks in oil bonds for oil companies. The special oil bond OMO can be outright or repo and is capped at

  • Pay hike for PSU chiefs on the anvil?

    30th May, 2008 20:59

    The next round of pay hikes will go to the top management of public sector units. The report submitted by the pay revision panel for the central public sector ente

  • Sify Technologies annual 07-08 revenues at $150.59mn

    30th May, 2008 20:22

    Sify reported revenues of $ 150.59 million for the year ended 31st March 2008, 11.0% higher than the previous year ended 31st March 2007. The Enterprise and I

  • Conference on carbon credit emphasizes thrust on clean tech

    30th May, 2008 20:11

    Conference on Carbon Credit Emphasizes Thrust on Cleaner Technologies

  • Bank profits may be hit by service tax

    30th May, 2008 20:09

    All forex transactions have gotten costlier by about Rs 100, because of the imposition of service tax. However, the bigger problem for banks is paying service tax

  • Stay on sidelines as lot of -ve news yet to come in: DSP ML 

    30th May, 2008 20:00

    Andrew Holland of DSP Merrill Lynch remains circumspect on the road ahead. "I am surprised how global markets are holding up. A lot of negative news is coming in,

  • Microsoft contributes Web services protocol

    30th May, 2008 19:49

    Microsoft Contributes Web Services Protocol to broaden interoperability

  • Govt withdraws CST cut to 2% effective June 1

    30th May, 2008 19:45

    The government has withdrawn its statement on central sales tax cut to 2%, reports CNBC-TV18. It withdrew its statement on CST cut within hours of its release.

  • Draft norms on banks' off-balance sheet exposure released 

    30th May, 2008 19:32

    The Reserve Bank of India, or RBI, has released its draft norms on banks' off-balance sheet exposure, reports CNBC-TV18. It said the provision norms for standard a

  • Comverse names 10 Finalists for Annual Innovation Awards

    30th May, 2008 19:09

    Comverse, the world's leading supplier of software and systems enabling network-based multimedia enhanced communication and billing services, today announced the t

  • NCDEX- Trade details for May 30, 2008

    30th May, 2008 19:02

    NCDEX, 485 members (2,254 users) participated in trading on May 31, 2008 up to 5:00 pm and volumes were Rs 2,076 crore (one-way). There were more than 57,067 tra

  • Sun Pharma Q4 cons net profit at Rs 723 cr

    30th May, 2008 18:58

    Sun Pharma has announced its fourth quarter results. The company's consolidated net sales were at Rs 1,257 crore.

  • Deepak Fert Q4 FY08 PAT at Rs 31.3cr

    30th May, 2008 18:55

    Deepak Fertiliser has announced it's Q4 FY08 results. It's net profit was at Rs 31.3 crore versus 27.7 crore. It's revenue was up 52% at Rs 338.8 crore versus Rs 2

  • Things you must know about Capital Protection Schemes

    30th May, 2008 18:54

    Capital protection schemes are not as risk-free as they sound to be. It is important to understand their risks and potential upsides to decide about investing in t

  • Times Music launches “Piya Piya”

    30th May, 2008 18:35

    In a musical evening, on 29th May at Planet M, Lower Parel, TimesMusic launched its latest album “Piya Piya”. The album brings together established artists like Us

  • Rupee ends higher, bonds flat

    30th May, 2008 18:17

    The spot rupee closed higher at Rs 42.46 per USD as against its previous close of Rs 42.80. The widely traded 8.24%, 2018 paper ended flat at Rs 100.94.

  • Dabur Pharma FY08 revenue at Rs 2503mn

    30th May, 2008 18:15

    Dabur Pharma FY08 revenue at Rs. 2503 million. EBITDA at Rs 431.7 million

  • Virgin Mobile data srvcs available for Qualcomm’s BREW Soln

    30th May, 2008 18:07

    Tata Teleservices today announced that it will offer wireless data services for Qualcomm’s BREW® solution to subscribers of its “Virgin Mobile” brand in India.

  • Why is crude oil so expensive? 

    30th May, 2008 17:43

    There is just no escaping the crude reality that faces, not only the nation, but the entire world. It all began quite innocuously with the rise of the world's firs

  • Stocks to watch: 3i Infotech, Sasken Comm 

    30th May, 2008 17:19

    The mixed cues from the economy front kept the investors on their toes. The markets cheered the strong GDP numbers but surge was contained by inflation worries. E

  • Liquidity Adjustment Facility : Auction Results

    30th May, 2008 17:00

    Liquidity Adjustment Facility : Auction Results. The results of the RBI Repo/Reverse Repo auctions held on May 29, 2008

  • Sterling Biotech stock of the day up about 4.5% 

    30th May, 2008 17:00

    A quick wrap up of the F&O picture in today’s trading session turnover is pretty subdued at about Rs 30,000 crore. If you look at the Nifty we did see some bit of

  • Revised GDP gwth for 07-08 at 9% on expected line:CII

    30th May, 2008 16:41

    The revised GDP growth for 2007-08 released by CSO at 9% is in line with CII expectations. CII had projected a GDP growth of 9.2% for 2007-08, said Confederation o

  • Aegis Logistics Q4 PAT was at Rs 12.03 crore

    30th May, 2008 16:29

    Aegis Logistics Q4 Standalone net sales was at Rs 115.14 crore versus Rs 65.51 crore. It's operating profit wasat Rs 24.44 crore versus Rs 6.9 crore. Net Profit wa

  • Deepak Fertilisers gross revenues at Rs 1081.31cr

    30th May, 2008 16:22

    Deepak Fertilisers And Petrochemicals Corporation Ltd gross revenues at a best ever Rs 1081.31 for 2007-08. Profit before tax increased 18% to Rs 151.51 crores as

  • Lupin gets USFDA approval for Topiramate tablets

    30th May, 2008 16:14

    Lupin Ltd announced that it has received tentative approval for the Company’s Abbreviated New Drug Application (ANDA) for Topiramate tablets, 25 mg, 50 mg, 100 mg

  • Vijay bullish on sugar space

    30th May, 2008 16:05

    Portfolio Manager, PN Vijay is bullish on sugar space.

  • Niraj Cement IPO subscribed fully

    30th May, 2008 16:00

    The IPO of Niraj Cement Structurals has received total bids for 56.57 lac equity shares and was subscribed 1.74 times, as per NSE website. Non-institutional and re

  • Emami’s turnover increased by 13%

    30th May, 2008 15:43

    Emami’s Turnover increased by 13% and Net Profit grows by 41%. Fourth quarter has witnessed consistent growth across all its power brands. While turnover at Rs. 17

  • Buy Indoco Remedies, target of Rs 460: Angel

    30th May, 2008 15:22

    Angel Broking has maintained its buy rating on Indoco Remedies with a target price of 460. Indoco Remedies, which has been traditionally focused on the Domestic Fo

  • Agilent Technologies introduce USB-based instruments

    30th May, 2008 15:20

    Agilent Technologies Inc introduced a family of USB-based instruments designed for flexible configurations, quick setup, and affordability in electronic functional

  • Lanco Infra sees capex of $7-8 b over next 3-4 yrs 

    30th May, 2008 15:13

    Suresh Kumar, the CFO of Lanco Infratech informed that one and a half year back, his company's order book was just about Rs 1,600-odd crore. Today, it's at Rs 13,

  • KPIT Cummins appoints 3 distinguished members to its board

    30th May, 2008 15:05

    KPIT Cummins Infosystems Ltd, a specialist solutions partner to global manufacturing corporations, announced the appointment of Dr. R. A. Mashelkar, Mrs. Lila Poon

  • Nifty struggling to get above 4900 mark 

    30th May, 2008 14:58

    The market’s struggling a bit, it looked promising in the middle of the day when those GDP numbers came in but ever since, it’s been a gradual struggle to get abov

  • Adlabs records 42% growth in revenues

    30th May, 2008 14:55

    Adlabs records 42% growth in revenues

  • See large revenues in next 3 qtrs: Cinemax  

    30th May, 2008 14:48

    Cinemax India in its Q4 results, net sales were at Rs 18.25 cr vs Rs 16.7 cr. Rasesh Kanakia, Chairman said that they have five properties, which are ready with th

  • Sell India Infoline with stoploss of Rs 776: Gujral 

    30th May, 2008 14:40

    Technical Analyst, Ashwani Gujral is of the view that one can sell India Infoline with stoploss of Rs 776 and target of Rs 513 is possible.

  • Colgate announces result, stock down

    30th May, 2008 14:32

    At 2:21 pm, Colgate Palmolive was quoting at Rs 419.50, down Rs 9.6, or 2.24%. it has touched an intraday high of Rs 439.50 and an intraday low of Rs 419. It was t

  • Mundra Port tumbles 8%

    30th May, 2008 14:22

    At 2:11 pm, Mundra Port was quoting at Rs 766.85, down Rs 67.6, or 8.1%. It has touched an intraday high of Rs 847.70 and an intraday low of Rs 758.25. It was tra

  • Jaiprakash Associates top loser on Sensex

    30th May, 2008 14:20

    Jaiprakash Associates is top loser on the Sensex. At 2:08 pm the share was quoting at Rs 217, down Rs 8.35, or 3.71%. It has touched an intraday high of Rs 229.40

  • GlobalLogic acquires Dalian 3CIS

    30th May, 2008 14:05

    GlobalLogic expands reach in China with acquisition of Dalian 3CIS. Acquisition brings expertise in embedded software and artificial intelligence.

  • Monsoons to touch northeast India by June 3: Met 

    30th May, 2008 14:00

    Ajit Tyagi, Director-General, MET said there were monsoon rains in Thiruvananthapuram. He told CNBC-TV18 that rains are expected to recur in the next couple of day

  • Temptation scouts for listed co in ready-to-eat biz: Srcs

    30th May, 2008 13:59

    Temptation management has said that it is looking to buy a listed company in the ready-to-eat business. Temptation Foods will likely to pick up stake in Kohinoor F

  • Dabur Pharma FY08 net profit at Rs 98.6 cr

    30th May, 2008 13:56

    Dabur Pharma has declared its consolidated results for FY08. The company's FY08 consolidated net profit was at Rs 98.6 crore versus Rs 19.7 crore.

  • TSK Line- India China Service now calling Port Pipavav

    30th May, 2008 13:42

    The India China Service (ICS) of Tokyo Senpaku Kaisha Line (TSK), the feeder wing of Nippon Yusen Kaisha Line (NYK) is now calling Port Pipavav. The inaugural call

  • Bhushan Steel forges ahead

    30th May, 2008 13:27

    At 12:58 pm, Bhushan Steel was quoting at Rs 886, up Rs 49.35, or 5.90%. It has touched an intraday high of Rs 886 and an intraday low of Rs 843.80. It was trading

  • Traffic continues to slow,falling load factors hurt profits

    30th May, 2008 13:18

    The International Air Transport Association released international traffic data for April. Year-on-year international passenger demand grew by 3% in April. Capacit

  • Harrisons Malyalam dips further

    30th May, 2008 13:15

    Harrisons Malyalam has continued to slip. At 12:58 pm, the share was quoting at Rs 104, down Rs 5.25, or 4.81%. It was trading with volumes of 81,154 shares. Yeste

  • Learn to innovate the CK Prahalad way! 

    30th May, 2008 13:09

    Professor CK Prahalad said to innovate companies need to fold the future, not extrapolate the past. “We are not suggesting a revolution, we are taking about a plan

  • BHEL makes smart gain

    30th May, 2008 13:00

    At 12:54 pm, Bharat Heavy Electricals, BHEL was quoting at Rs 1,655, up Rs 55.10, or 3.44%. It has touched an intraday high of Rs 1,668 and an intraday low of Rs 1

  • Axis Bank continues to slide

    30th May, 2008 12:51

    At 12:42 pm, Axis Bank was quoting at Rs 752.50, down Rs 30.8, or 3.93%. It has touched an intraday high of Rs 787 and an intraday low of Rs 750. It was trading wi

  • Sobha Dev FY08 net profit up at Rs 228.3 cr

    30th May, 2008 12:42

    Sobha Developers has announced its FY08 and fourth quarter results. The company's FY08 standalone net sales were up at Rs 1,422.6 crore from Rs 1,186.5 crore.

  • IBM Daksh awarded Contact Center Outsourcing Srvc Provider

    30th May, 2008 12:39

    IBM Daksh has been felicitated as the 2008 Contact Center Outsourcing Service Provider of the Year in Asia Pacific by Frost & Sullivan. IBM Daksh was selected to r

  • Lupin up on ANDA approval for Topiramate

    30th May, 2008 12:26

    At 12:15 pm, Lupin was quoting at Rs 721.50, up Rs 16.85, or 2.39%. It has touched an intraday high of Rs 732.10 and an intraday low of Rs 697. The company has rec

  • Volkswagen Grp delivers 568000 vehicles worldwide in April

    30th May, 2008 12:21

    The Volkswagen Group moved into the second quarter of 2008 with yet another record in global vehicle deliveries. In an increasingly difficult market environment Eu

  • Amdocs opens new software & services center in India

    30th May, 2008 12:11

    Amdocs, the leading provider of customer experience systems, announced the opening of a new company facility in Gurgaon. The new facility will expand Amdocs’ pr

  • Buy Britannia, target of Rs 1751: IndiaInfoline

    30th May, 2008 12:00

    IndiaInfoline has recommended a buy rating on Britannia Industries with a one-year price target of Rs 1751. Net profit for the quarter increased by 54% yoy to Rs 6

  • Buy Mahindra and Mahindra: ICICI Securities

    30th May, 2008 11:53

    ICICI Securities has maintained its buy rating on Mahindra and Mahindra. Strong performance of the group companies is reflected in their rising contributions to co

  • Indian GDRs: M&M slips 7.4%, L&T up 6%

    30th May, 2008 11:45

    Indian GDRs: Mahindra, Tata Motors, SBI, Gail and Grasin plunged, while L&T, Satyam, Infosys, Ranbaxy and ITC gained.

  • Dr Reddys Lab in good health

    30th May, 2008 11:38

    At 11:29 am, Dr Reddys Laboratories was quoting at Rs 702.50, up Rs 26.05, or 3.85%. It has touched an intraday high of Rs 705.80 and an intraday low of Rs 677.10.

  • Valuations in India concerning: JPM Asset Mgmt 

    30th May, 2008 11:35

    Richard Titherington, at JP Morgan Asset Management believes that India is on the wrong side of the commodity and inflation story. The oil prices expected to stabi

  • Glenmark gets nod on 3 ANDAs

    30th May, 2008 11:24

    Glenmark Generics has received ANDA or Abbreviated New Drug Application approvals for 3 ANDA. Earlier the total sales for 3 ANDA were in excess of USD 187 million

  • Ranbaxy touches 52-week high

    30th May, 2008 11:12

    Ranbaxy Labs has touched a 52-week high of Rs 531.10. At 11:03 am, the share was quoting at Rs 529.20, up Rs 24.60, or 4.88%.It was trading with volumes of 430,129

  • Buy L&T, tgt Rs 4044: Sharekhan

    30th May, 2008 11:07

    Sharekhan research has maintained buy rating on L&T with target price of Rs 4044.L&T's sound execution track record, strong order book position and tested capabili

  • Essar Oil continues to slip

    30th May, 2008 10:57

    Essar Oil has continued to slip. At 10:53 am, the share was quoting at Rs 222.80, down Rs 7.45, or 3.24% on the Nifty. It was trading with volumes of 1,435,685 sha

  • Geojit Financial Services surges 7%

    30th May, 2008 10:46

    At 10:37 am, Geojit Financial Services was quoting at Rs 57.70, up Rs 3.85, or 7.15%. It has touched an intraday high of Rs 61 and an intraday low of Rs 55.60. It

  • Buy Bajaj Electricals, tgt Rs 603: HEM Securities

    30th May, 2008 10:45

    HEM Securities has maintained buy rating on Bajaj Electricals with target price of Rs 603, implying upside of 33%

  • Global short term trend is up;we can expect some gain tdy

    30th May, 2008 10:33

    European indices made mild to moderate gains last night, and the US indices also made moderate gains. Asian markets are up this morning, with the Nikkei up and Han

  • Pricol Q4 net profit at Rs 5.25 cr

    30th May, 2008 10:31

    Pricol has declared its results for the quarter ended March 2008 (Q4). The company's Q4 net profit stood at Rs 5.25 crore versus Rs 8.22 crore.

  • Cinemax India Q4 net profit at Rs 1.31 cr

    30th May, 2008 10:23

    Cinemax India has announced its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was at Rs 1.31 crore versus Rs 2.03 crore.

  • Sun Pharma among major gainers

    30th May, 2008 10:14

    Sun Pharmaceutical Industries is among major gainers on the Nifty. At 10:10 am, the share was quoting at Rs 1,425.25, up Rs 41.65, or 3.01%. It was trading with vo

  • Aegis Logistics Q4 net profit at Rs 12.03 cr

    30th May, 2008 10:02

    Aegis Logistics has announced its standalone results for the quarter ended March 2008 (Q4). The company's Q4 standalone net profit was at Rs 12.03 crore versus Rs

  • Punj Lloyd Q4 PAT seen up at Rs 105 cr

    30th May, 2008 10:00

    Punj Lloyd is to announce its fourth quarter results. According to CNBC-TV18 estimates, the company's Q4 revenues are seen up 33% at Rs 2280 crore versus Rs 1703 c

  • Expect more supply in Rel Power in next week 

    30th May, 2008 09:52

    The trading band for Reliance Power is between Rs 275 on the way down and upto Rs 320 on the way up, anything above Rs 320 is probably fundamentally unsustainable.

  • L&T schedules first of 3 IPOs for 2009-10

    30th May, 2008 09:50

    Engineering and construction major Larsen & Toubro plans to go ahead with the first of the three proposed initial public offering of its group companies in 2009-10

  • Crude, inflation, int rates threats to prevail: Envision

    30th May, 2008 09:46

    There is no threat from the political front since the elections in Karnataka are over, and the other elections are yet to take place. However threats from crude oi

  • Markets are expected to open flat: Networth

    30th May, 2008 09:44

    According to Networth Stock Broking Market Review report, Markets are expected to open flat. Over the past 8 days FIIs have sold stocks worth Rs 5140 crore (USD 1.

  • Avon Weighing Systems IPO opens on June 9

    30th May, 2008 09:40

    Avon Weighing Systems, a company engaged in the business of selling weighing systems in India, proposes to enter the capital markets on 9th June 2008 with a public

  • Rel Power seen at Rs 290-310 ex-bonus: CNBC-TV18 Poll

    30th May, 2008 09:38

    Today is the ex-date for Reliance Power bonus of 3:5. New F&O contracts will be issued today. As per CNBC-TV18s brokers poll, Reliance Power is expected to be arou

  • Tamil Nadu Newsprint Q4 net profit at Rs 27.38 cr

    30th May, 2008 09:33

    Tamil Nadu Newsprint and Papers has declared its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was at Rs 27.38 crore versus Rs 21.72 c

  • Ex-date for Reliance Power bonus of 3:5 today

    30th May, 2008 09:24

    Today is the ex-date for Reliance Power bonus of 3:5. New F&O contracts will be issued today. F&O lot size fixed of 500 shares, options strike prices between Rs 10

  • US mkts rallies on ease of oil prices 

    30th May, 2008 09:22

    Oil greased the stock markets today, crude settled at USD 126.62/bbl down more than USD 4 and that’s the biggest one day drop in about 2 months. That’s despite the

  • Inflation, GDP, oil price decision, F&O to keep mkts busy 

    30th May, 2008 09:18

    Inflation and GDP numbers will be the deciding factors for the markets today. Rising oil prices have impacted on the oil companies. Nifty could add Rs 37 lakh in t

  • Nifty Open Interest PCR at 2.08 

    30th May, 2008 09:12

    Marketwide rollover at 82%, in line with versus 82% seen last time. Nifty rollover was at 66% versus 71% last time. Nifty futures at 23-point premium, added 37 lak

  • Airlines to rework schedules on account of fuel hike

    30th May, 2008 09:04

    Move over leisure and holiday travellers - budget airlines are now eyeing the corporate segment. Rising fuel prices have made them rethink their schedules and rewo

  • Money calls: Venkatraman, Nanivadekar

    30th May, 2008 09:02

    The bond market yield is expected to inch up on tight liquidity, higher inflation expectations and an impending fuel price hike, says Venkatraman.

  • Equity calls: Chhabria, Singhal 

    30th May, 2008 08:51

    The market is in a consolidation phase, with the Nifty range seen within 4500-5200. Participation is low and positions are light, as investors are cautious, says C

  • Wipro Lighting wins trademark infringement case

    30th May, 2008 08:48

    Wipro Consumer Care & Lighting has won a trademark infringement case against a Delhi company that had been using its brand name and similar packaging to sell its G

  • Market cues: FIIs net sell $181.9 mn

    30th May, 2008 08:47

    Market cues: FIIs net sell $181.9 mn. MFs net buy Rs 185.4 cr in equity on May 28.

  • DoT asks RIM to find solution for Blackberry

    30th May, 2008 08:45

    The Department of Telecom (DoT) had another round of discussion with Research In Motion (RIM) in a bid to find a solution to the security concerns around Blackberr

  • Deccan Aviation trims losses

    30th May, 2008 08:43

    Deccan Aviation on Wednesday said operational synergy with Kingfisher Airlines has helped it to reduce its losses for quarter ending March 31, 2008 by 6.34 per cen

  • Exide to invest up to Rs 35 cr to acquire lead smelter co

    30th May, 2008 08:42

    Close on the heels of acquiring 100 per cent interest in Pune-based Tandon Metals at Rs 25 crore, Exide Industries Ltd plans to acquire another lead smelter capaci

  • Stocks in news: Punj Lloyd, Bombay Dyeing, Emami

    30th May, 2008 08:40

    Stocks in news: Punj Lloyd has results today. Bombay Dyeing sold DMT plant to Goa co for undisclosed amount. Emami board has approved QIB issue up to 15% of post i

  • Wall St gains on decline in oil price; Dow up 52 pts

    30th May, 2008 08:26

    US markets advanced for a third straight day. The rally was lead by strength in the financial sector and a big decline in oil prices. Crude plunged USD 4.41 to set

  • MF NAVs end lower as mkts decline

    30th May, 2008 00:10

    Equity diversified NAVs ended lower with negative advance:decline ratio of 20:192 as the markets closed in red. The Sensex closed down 209.11 points or 1.27% at 16

  • Godrej Properties files DRHP with SEBI

    30th May, 2008 22:16

    Godrej Properties has filed draft red herring prospectus, DRHP with the market regulator, SEBI. The company is planning to raise Rs 600 crore through IPO.

  • State Ministers' panel to impose VAT on textiles

    30th May, 2008 21:04

    The State Ministers' panel seeks to impose VAT on textiles, reports CNBC-TV18, quoting Newswire18. It seeks to up the general VAT to 5% as against 4% in FY09.

  • Carmakers see sharp fall in May sales nos 

    30th May, 2008 20:47

    With input costs shooting up and a fuel price hike in the horizon, carmakers have a tough task on hand luring in customers. While April was a relatively good mont

  • Don't hike fuel prices: Left 

    30th May, 2008 20:18

    The Left has maintained that it is against any fuel price hike. It wants customs duty on crude imports and excise on petro products to be cut. That is in addition

  • Kolkata airport gets PIB clearance, awaits CCEA approval

    30th May, 2008 20:11

    Kolkata airport plans to get the Pre Investment Board, or PIB, clearance, reports CNBC-TV18. It will now go for CCEA approval. The date for opening of tenders for

  • Unions to respond positively for BSNL listing: Telecom Min

    30th May, 2008 20:07

    The Telecom Ministry says the unions will respond positively to suggestion for BSNL listing by June 3, reports CNBC-TV18. The state-owned telecom major is looking

  • Pipal Research Corp signs MOU with London Stock Exchange

    30th May, 2008 19:57

    The London Stock Exchange announced that it had signed an MOU with Pipal Research Corporation, a subsidiary of global outsourcing services provider Firstsource Sol

  • Crude to bottom at $122/bbl: Normans Martin 

    30th May, 2008 19:46

    Ram Pitre, COO, Normans Martin Advisory Group, said crude is not headed below USD 100 per barrel. He told CNBC-TV18 that USD 122 looks like the bottom for crude.

  • Spice Minerals & Metals signs MoU with NMDC

    30th May, 2008 19:40

    The NMDC limited (NMDC) – a Government of India Enterprise and Spice Minerals & Metals; an initiative of the Spice Energy group have signed a Memorandum of Underst

  • Niraj Cement Structurals IPO subscribed 1.7 times

    30th May, 2008 19:31

    Niraj Cement Structurals Ltd IPO subscribed 1.7 times

  • Bullish on India despite inflation-related challenges: E&Y

    30th May, 2008 19:07

    Ernst &Young Global's CEO is optimistic that the US will not see a protracted slowdown. He added that Fed measures are kicking in and FY09 is forecasted to be bett

  • Expect to biz to grow by 18-20%: Sun Pharma

    30th May, 2008 19:00

    Sun Pharmaceutical Industrie has announced its fourth quarter results. The company's consolidated net sales were at Rs 1,257 crore.

  • Yeddyurappa sworn-in as K'taka CM

    30th May, 2008 18:56

    Ushering in a new era for BJP in the South, Bookanakere Siddalingappa Yeddyurappa was on Friday sworn-in the Chief Minister of Karnataka, embarking upon his second

  • Godrej Properties files DRHP with Sebi

    30th May, 2008 18:55

    Godrej Properties Limited, one of the leading real estate development companies in India, proposes to enter the capital markets to raise necessary funds for the Co

  • Punj Lloyd FY08 cons PAT up 82% at Rs 360cr

    30th May, 2008 18:44

    Punj Lloyd Group records Rs. 78,711 million in revenues and Rs. 3,600 million in net profit for FY2008. Operating profits (EBIDTA) was up by 67.28% at Rs 7589 mill

  • Sun Pharma Q4 sales growth 129%, Profit increased 225%

    30th May, 2008 18:24

    Sun Pharmaceutical Q4 Sales growth 129%, Profit increased 225%. Net sales increased 129% to Rs 12,572 million, from Rs 5,485 million in Q4 FY07

  • Tata Tea Q4 cons net profit at Rs 113 cr

    30th May, 2008 18:16

    Tata Tea has decalred its fourth quarter results. The company's consolidated net sales were at Rs 1176.80 crore.

  • Punj Lloyd FY08 cons PAT up at 358.42 cr

    30th May, 2008 18:11

    Punj Lloyd has announced its FY08 results. The company’s FY08 consolidated net sales were up at Rs 7,752.92 crore versus Rs 5,126.58 crore. YoY.

  • Mahindra introduces Int'l range of vehicles in Turkey

    30th May, 2008 17:56

    Mahindra & Mahindra Ltd. one of India’s leading auto brands with a growing global presence, announced the introduction of the Mahindra Pik Up and the Mahindra Scor

  • Unoperationalized Laws!

    30th May, 2008 17:30

    In 2004 the central government introduced guidelines for Indian Depository Receipts. An IDR is a negotiable bank issued certificate representing ownership of stock

  • FM hints at further easing of ECB norms 

    30th May, 2008 17:14

    Finance Minister P Chidambaram said the governmentt and RBI are working together to find a way to further ease ECB restrictions, reports CNBC-TV18. He said India w

  • Bullish on IT, pharma, FMCG: PN Vijay 

    30th May, 2008 17:00

    Portfolio Manager PN Vijay said in the last six months, growth in economy-related sectors is petering out and smart money had started moving into three sectors. It

  • Angel neutral on Tata Motors

    30th May, 2008 16:55

    Angel Broking has given a neutral rating to Tata Motors and has revised its target price to Rs 550. For 4QFY2008, Tata Motors (TML) clocked an 8.2% yoy increase in

  • SBI has support at Rs 1410-1412: Mathew 

    30th May, 2008 16:38

    E Mathew, Director of Mathew Easow Fiscal Services is of the view that in State Bank of India Rs 1410 to Rs 1412 there seems to be reasonable support. But if that

  • Deepak Fert breaks Rs 1k cr sales barrier in FY08 

    30th May, 2008 16:29

    Shalesh C Shah, Vice President and Managing Director, Deepak Fertilizer, said the company has posted a landmark growth of Rs 1,000 crore turnover and Rs 100 crore

  • CWC to discuss bail out package for oil cos on May 31 

    30th May, 2008 16:20

    The senior ministry meeting will firm up blue print of the bail out package today. The exact price hike will be determined by quantum of duty cuts. The CWC or the

  • Sujana Metal Products acquires 3 steel units worth Rs 180cr

    30th May, 2008 16:07

    Sujana Metal Products Limited, part of well-diversified Rs 3,000 crore Sujana Group of Companies, today announced the acquisition of three steel units

  • Punj Lloyd a strong midcap pick: Vijay

    30th May, 2008 16:02

    Portfolio Manager, PN Vijay feels that Punj Lloyd a strong midcap pick. It has corrected viscously from Rs 570 levels to where it is today. Hind Constr used to be

  • Aegis Group posts Rs 389cr revenue- up 62%

    30th May, 2008 15:54

    Aegis Group results for FY08 showed Rs.389 crores Revenue - a jump of 62%. Logistics business Revenue was up by 40% and Gas Revenue was up by 68%.

  • Anant Raj Industries PAT up by 248%

    30th May, 2008 15:30

    Anant Raj Industries income from operations up by 190%. Income From Operations Q4 FY2008: Up 2257% to Rs. 21531.55 lacs from Rs. 913.49 Lacs. FY2007 - 2008: Up 190

  • Kirloskar Oil Engines flares up

    30th May, 2008 15:21

    At 3:10 pm, Kirloskar Oil Engines was quoting at Rs 99, up Rs 4.95, or 5.26%. It has touched an intraday high of Rs 100.10 and an intraday low of Rs 91. It was tra

  • Rel Power to trade around Rs 230-270 in 3-6 months: Tulsian 

    30th May, 2008 15:18

    SP Tulsian of sptulsian.com SP Tulsian of sptulsian.com said Reliance Power could hover between Rs 230-270 in the next 3-6 months. He added that the adjustment of

  • Emaar MGF launches Boulder Hills in South

    30th May, 2008 15:13

    Emaar MGF Land Ltd, one of India’s leading real estate developer, announced the launch of ‘Boulder Hills Golf and Country Club’, its signature master planned integ

  • Spice Comm shoots up smartly

    30th May, 2008 15:00

    At 2:54 pm, Spice Communications was quoting at Rs 59.05, up Rs 4.80, or 8.85%. It has touched an intraday high of Rs 59.40 and an intraday low of Rs 54.10. It was

  • 3i Infotech has target of Rs 188: H Shah

    30th May, 2008 14:58

    Harit Shah of Angel Stock Broking is of the view that 3i Infotech has target of Rs 188.

  • TCS among major gainers

    30th May, 2008 14:50

    Tata Consultancy Services, TCS is among major gainers on the Nifty. At 2:45 pm, the share was quoting at Rs 1,045.20, up Rs 50.55, or 5.08%. It has touched an intr

  • Sasken has target of Rs 246: H Shah

    30th May, 2008 14:48

    Harit Shah of Angel Stock Broking is of the view that Sasken Comm has target of Rs 246. They offer software services to network equipment makers, to handset manufa

  • Sintex India gushes forth

    30th May, 2008 14:40

    At 2:30 pm, Sintex India was quoting at Rs 416, up Rs 25.05, or 6.41%. It has touched an intraday high of Rs 426 and an intraday low of Rs 395. It was trading with

  • Hero Honda skids further

    30th May, 2008 14:25

    At 2:13 pm, Hero Honda Motors was quoting at Rs 739, down Rs 39.4, or 5.06%. It has touched an intraday high of Rs 782 and an intraday low of Rs 735.05. It was tra

  • Buy Mahindra & Mahindra, target of Rs 731: Angel

    30th May, 2008 14:21

    Angel Broking has maintained its buy rating on Mahindra and Mahindra with a revised target price of Rs 731. For 4QFY2008, Mahindra and Mahindra (M&M) clocked net s

  • Buy Aegis Logistics, target of Rs 335: Angel

    30th May, 2008 14:10

    Angel Broking has recommended a buy rating on Aegis Logistics with a target price of Rs 335. Aegis has witnessed an improvement in its Margins in the recent quarte

  • Tata Motors an market outperformer: P Lilladher

    30th May, 2008 14:00

    Prabhudas Lilladher research has maintained market outperformer rating on Tata Motors with target price of Rs 618. The company is expected to launch a slew of new

  • Colgate Q4 net profit up at Rs 55.6 cr

    30th May, 2008 14:00

    Colgate Palmolive has announced its fourth quarter results. The company's Q4 net profit was up at Rs 55.6 crore versus Rs 50.5 crore.

  • NCDEX- Trade details for May 29, 2008

    30th May, 2008 13:56

    NCDEX, 471 members (2,182 users) participated in trading on May 29, 2008 up to 5:00 pm and volumes were Rs 1,902 crore (one-way). There were more than 53,291 tra

  • M&M an outperformer, tgt Rs 720: P Lilladher

    30th May, 2008 13:51

    Prabhudas Lilladher research has maintained outperformer rating on Mahindra and Mahindra with target price of Rs 720. On sum-of-parts valuation, the stock trades a

  • New ECB norms to help save 3-4% in financing: GMR Infra 

    30th May, 2008 13:40

    Ashutosh Aggarwal, CFO-Strategic Finance, GMR Infra, said ECB norms would help to moderate financing charges. "The new norms will help save 300-400 bps (100 bps=1%

  • New Dell Equallogic Solutions simplify storage

    30th May, 2008 13:27

    Dell India today announced the launch and delivery of next-generation iSCSI storage area network (SAN) arrays – the Dell EqualLogic PS5000 Series

  • Mcleod Russel moves down

    30th May, 2008 13:16

    At 12:58 pm, Mcleod Russel was quoting at Rs 93.50, down Rs 5.9, or 5.94%. It has touched an intraday high of Rs 101.20 and an intraday low of Rs 93.15. It was tr

  • Balaji Telefilms puts on a good show

    30th May, 2008 13:10

    At 12:58 pm, Balaji Telefilms was quoting at Rs 206.90, up Rs 20.30, or 10.88%. It has touched an intraday high of Rs 211.80 and an intraday low of Rs 186.50. It w

  • New Horizons appoints Mita Brahma, Head-Education Biz unit

    30th May, 2008 13:01

    New Horizons India Ltd. the fastest growing training and education brand in India, today announced the appointment of Mita Brahma as the Head of the newly conceive

  • HCC advances nearly 6%

    30th May, 2008 12:57

    At 12:47 pm, Hindustan Construction Company, HCC was quoting at Rs 117.50, up Rs 6.45, or 5.81%. It has touched an intraday high of Rs 117.90 and an intraday low o

  • Orchid’s FY08 turnover rises by 36% to Rs 1239cr

    30th May, 2008 12:48

    Orchid’s FY08 turnover rises by 36% to Rs 1239 crore. Net profit records a growth of 91%. Earnings before Interest & Tax (EBIT) grew by 24.8% to Rs 248.40 crore co

  • Buy BEML, target of Rs 1303: Asit C. Mehta

    30th May, 2008 12:41

    Asit C. Mehta has recommended a buy rating on BEML with a target price of Rs 1303. Considering BEML’s leading position in domestic CME space, capacity addition pla

  • Spain Ambassador visits Tata Ficosa Automotive Systems

    30th May, 2008 12:30

    Tata Ficosa Automotive Systems, a 50:50 joint venture of Tata AutoComp Systems Ltd and Ficosa International, Spain, witnessed the visit of the Ambassador of Spain,

  • Buy Everest Kanto, target of Rs 440: Karvy

    30th May, 2008 12:23

    Karvy Stock Broking has maintained its buy rating on Everest Kanto Cylinder with a price target of Rs 440. Everest Kanto Cylinder's (EKC) 4QFY08 sales were better

  • Exit Reliance Power at Rs 270-275: Tulsian 

    30th May, 2008 12:17

    Investment Advisor SP Tulsian is of the view that one can exit Reliance Power at Rs 270-275 and one could again re-enter into the stock if it is available at Rs 23

  • Aegis Logistics announces result, stock rises

    30th May, 2008 12:02

    At 11:53 am, Aegis Logistics was quoting at Rs 248.25, up Rs 5.45, or 2.24%. It has touched an intraday high of Rs 262 and an intraday low of Rs 248.15. The compan

  • Punj Lloyd bounces back

    30th May, 2008 11:56

    At 11:47 am, the share was quoting at Rs 326.50, up Rs 15.70, or 5.05%. It has touched an intraday high of Rs 326.80 and an intraday low of Rs 314. It was trading

  • HDFC among major gainers

    30th May, 2008 11:53

    HDFC is among major gainers on the Sensex. At 11:42 am, the share was quoting at Rs 2,509, up Rs 75.80, or 3.12%. It has touched an intraday high of Rs 2,529 and a

  • Emami approves QIB issue, stock up

    30th May, 2008 11:44

    At 11:33 am, Emami was quoting at Rs 298, up Rs 6.90, or 2.37%. It has touched an intraday high of Rs 302.40 and an intraday low of Rs 298. The company board has a

  • Exit Reliance Power on rallies: N Shah 

    30th May, 2008 11:35

    Nilesh Shah, MD & CEO of Envision Capital is of the view that one can exit Reliance Power on rallies. It’s quite possible that the current price may provide some g

  • See Nifty support for June at 4800: MF Global 

    30th May, 2008 11:27

    Vineet Bhatnagar, MD, MF Global said that the June build-up is looks the best as compared to the last three months. He said that most of the build-up in June has s

  • India's growth may slip despite +ve GDP nos: MS 

    30th May, 2008 11:20

    Manoj Pradhan, Analyst at Morgan Stanley said the Q4 GDP growth is positive, but India's growth may still slip. A strong growth story will give RBI more room to hi

  • Brokers bullish on IVRCL Infra, Gwalior Chem, L&T

    30th May, 2008 11:08

    Brokerage houses are bullish on IVRCL Infra, Gwalior Chem and L&T.

  • GDP at 8.8% but odds of slowdown still prevail: Experts  

    30th May, 2008 10:57

    Experts say that they were expecting a slightly lower GDP number than 8.8% and said that this was an absolutely fantastic number for the Indian economy. Though the

  • Avoid fertiliser stocks: N Shah 

    30th May, 2008 10:51

    Nilesh Shah, MD & CEO of Envision Capital is of the view that one should ignore fertiliser sector.

  • To bid only as part of consortium for IFCI stake: PNB

    30th May, 2008 10:46

    Punjab National Bank will bid only as part of a consortium for IFCI stake, say wire reports. PNB will study IFCI stake sale proposal before making any bid, it said

  • IFCI may touch Rs 75: Manghnani 

    30th May, 2008 10:40

    Anil Manghnani of Modern Shares & Stock Brokers is of the view that IFCI has shown good traction yesterday with good volumes also. The first level to watch out wou

  • Satyam can test Rs 553-600: Manghnani 

    30th May, 2008 10:32

    Anil Manghnani of Modern Shares & Stock Brokers is of the view that above Rs 525, Satyam can test Rs 553-600. Rupee is helping the IT sector and it’s proving to be

  • Satyam hits 52-week high

    30th May, 2008 10:26

    Satyam Computer Services has touched a 52-week high of Rs 544. At 10:17 am, the share was quoting at Rs 518.10, down Rs 8.15, or 1.55%. It was trading with vol

  • Mercator Lines maintain its march ahead

    30th May, 2008 10:17

    Mercator Lines has continued to gain. At 10:08 am, the share was quoting at Rs 115.60, up Rs 2.75, or 2.44%. It was trading with volumes of 317,808 shares. Yesterd

  • L&T top gainer on the Nifty

    30th May, 2008 10:09

    L&T is the top gainer on the Nifty. At 10:06 am, the share was quoting at Rs 3,001.90, up Rs 119.65, or 4.15%. It was trading with volumes of 335,787 shares. Yeste

  • 8.1% inflation: Will RBI hike rates?

    30th May, 2008 10:00

    Inflation for week ended May 17 is at 8.1% versus 7.82%. Experts like Shubada Rao of Yes Bank feels RBI’s focus would be on inflation management. “A more flexible

  • Mkts end firm; CG, IT, pharma, metal stocks gain

    30th May, 2008 09:53

    The markets have closed on a positive note amid mild volatility through the day in the favour of advances. Capital goods, technology, metal and pharma stocks maint

  • IFCI can go upto Rs 75 if the markets hold 

    30th May, 2008 09:50

    IFCI can go upto Rs 75 if the markets hold. But I would be extremely surprised if it gets anywhere close to Rs 110 because for 6 months the management could not ge

  • Support for Sensex at 16196-15990: HEM

    30th May, 2008 09:47

    According to HEM securities report, expect markets to be sideways today. The support for Sensex remains at 16196/15990 levels and resistance at 16493/16586 levels.

  • Explaning high Put Call ratio

    30th May, 2008 09:45

    The distinct point about the June series is the high PCR it begins with despite the recent weakness in the market. Now a PCR of over 2 under normal circumstances w

  • Nifty has immediate support at 4800: Angel

    30th May, 2008 09:42

    According to Angel Broking Technical Analysis report, 4,800 (lower range of the channel) remains an immediate support and one has to observe the movement around t

  • Nifty may correct upto 4772: Angel

    30th May, 2008 09:38

    According to Angel Broking Market Outlook report, if Nifty trades below 4865 for the first half-an-hour of trade then it may correct upto 4772.

  • If 4770 breaks, mkts may retest Mar lows: Anil Manghnani 

    30th May, 2008 09:35

    Anil Manghnani of Modern Shares and Stock Brokers sees a support level of 4,770. The lower top lower bottom scenario is not really helping markets, he said. Market

  • Nifty likely to witness range of 4930-4740

    30th May, 2008 09:25

    The coming session is likely to witness a range of 4930 on advances and 4740 on declines. The wide range is due to the large bas effect of Thursday. Being a weeken

  • Wait for right opportunity: Khandwala

    30th May, 2008 09:24

    Khandwala Securities Market Preview report, suggests to wait for the right opportunity.

  • Expect Nifty to test 4800-4600 levels: Karvy

    30th May, 2008 09:18

    According to Karvy Stock Broking Technical Analysis report, Since the critical levels of 4900 failed to hold, Karvy expects Nifty to test targeted levels of 4800-4

  • Datamatics Tech Q4 net profit at Rs 7.2 cr

    30th May, 2008 09:17

    Datamatics Technologies has declared its results for the quarter ended March 2008 (Q4). The company's Q4 net profit was at Rs 7.2 crore versus Rs 5.73 crore on QoQ

  • Sell MCX June Copper at Rs 338/kg

    30th May, 2008 09:05

    In the case of copper, one could sell MCX June at Rs 338 per kilogram, with a target of Rs 332 per kilogram, says Mittal.

  • Rupee opens at Rs 42.50 per dollar

    30th May, 2008 09:02

    Today rupee has rallied on ECB norm relaxation. The Indian Rupee opened at Rs 42.50 per dollar versus Rs 42.80 yesterday.

  • Support for Sensex at 16197-15834

    30th May, 2008 08:54

    The support for the Sensex is at 16197-15834 and the resistance to the up move at 16798-16805-16977.

  • F&O cues: Marketwide rollover at 82%

    30th May, 2008 08:49

    F&O cues: Nifty Futures add 37 lakh shares in net Open Interest . Marketwide rollover at 82%, in-line with Vs 82% seen last time.

  • Petrol may go up by Rs 4; Cabinet decision today 

    30th May, 2008 08:47

    Oil minister said bail out package for OMCs will be a mix of price hike, duty cuts and bonds. PM Manmohan Singh, Oil Min Murli Deora, FM P Chidamabaram and UPA Cha

  • TCS to spend Rs 1,900 cr this fiscal

    30th May, 2008 08:47

    The country’s largest software exporter Tata Consultancy Services (TCS) has outlined a capital expenditure plan (capex) of Rs 1,900 crore for the fiscal year 2008-

  • Fund Action witnessed in stocks on 29th May

    30th May, 2008 08:44

    On May 29, fund action was witnessed in Piramal Life sciences, Maxwell Ind, Alok Ind, Arvind Mills, Oswal Chemicals, Gwalior Chemicals, IOL Netcom, Kohinoor Foods,

  • Asian mkts mirroring US mkt performance: StanChart Bank 

    30th May, 2008 08:42

    Lim Say Boon, Chief Investment Strategist - Group Wealth Management at Standard Chartered Bank said, the decline from the resistance level on the S&P 500 has large

  • Crude plummets to $126.54/bbl

    30th May, 2008 08:41

    It was a wild ride in the energy pits. Crude prices dropped by over USD 4 to below USD 127 per barrel. In after hours access trading, crude is at 126.54 per barrel

  • Indian ADRs: Satyam up 3.8%, Tata Motors slips 4.6%

    30th May, 2008 08:29

    Indian ADRs: Satyam, Infosys and Wipro gained, while Tata Motors, MTNL, ICICI Bank, Dr Reddy's and HDFC Bank plunged.

  • Asian markets end higher

    30th May, 2008 08:21

    Asian markets ended higher. China's Shanghai Composite rose 0.94% or 31.92 points at 3,433.35. Hong Kong's Hang Seng was up 0.61% or 149.13 points at 24,533.12. So

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