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Moneycontrol News Archive : 7 May, 2008

  • MF NAVs end with negative returns

    7th May, 2008 23:44

    Equity diversified NAVs ended lower with negative advance:decline ratio of 33:174 as the markets closed in red amid volatile trade. The Sensex closed down 33.70 po

  • Lobby working against national pharma policy: Panel

    7th May, 2008 19:44

    The Parliamentary Panel said it is concerned about a lobby working against the national pharma policy, reports CNBC-TV18. The Ministry should counter the lobby in

  • Philips appoints Vivek Sharma as CMO, Indian sub-continent

    7th May, 2008 19:18

    Royal Philips Electronics, a global leader in Healthcare, Consumer Lifestyle and Lighting, today announced the appointment of Mr. Vivek Sharma as Chief Marketing O

  • Cognizant's revenue up 40% YoY & 7% sequentially

    7th May, 2008 19:00

    Cognizant ‘s revenue up 40% Year-over-Year & 7% sequentially. Quarterly revenue increased to $643.1 million, up 40% from the year-ago quarter.

  • IT sector has some upside: V Kapoor 

    7th May, 2008 18:37

    Vibhav Kapoor of IL&FS Investmart is of the view that one can see some upside in IT sector in the medium term.

  • Citibank, Delhi Metro launches Transit Credit Card

    7th May, 2008 18:35

    Citibank India and the Delhi Metro Rail Corporation announced the launch of India’s first co-branded, ‘2-in-1’ transit credit card, the Delhi Metro Citibank Credit

  • SKS Microfinance to launch urban microfinance

    7th May, 2008 18:18

    SKS Microfinance, India’s largest microfinance institution, is planning to launch microfinance in urban colonies of Nagpur and Pune this fiscal. The company has co

  • HOV Srvcs ranked in Top 15 of IAOPs’ Global Outsourcing 100

    7th May, 2008 18:08

    HOV Services, Inc., a proven provider of business process and knowledge process outsourcing solutions announced today that they have received a ranking of 15 on th

  • Rupee, bonds close lower

    7th May, 2008 17:55

    The spot rupee closed lower at Rs 41.34 per USD as against its previous close of Rs 40.94. The widely traded 8.24%, 2018 paper ended lower at Rs 102.50 as against

  • Praj's income grows at 20%

    7th May, 2008 17:53

    Praj FY 2007-08 audited results: 60% growth in PBT over previous fiscsal: Income grows at 20%. The Company has achieved a sterling growth in margins with PBT at Rs

  • Kotak Mahindra MF launches Kotak Sensex ETF

    7th May, 2008 17:45

    Kotak Mahindra Asset Management Company announced the launch of an exchange traded fund focusing on investing in the stocks that comprise the BSE SENSEX. The inves

  • Samsung launches ‘KHULJA SLIM- SLIM’ offer on Flat Color TV

    7th May, 2008 17:30

    Samsung India today announced the launch of its ‘ KHULJA SLIM-SLIM’ consumer offer on its Flat color televisions.

  • Cognizant Tech Q1 up 7.2% to USD 643.1 mn

    7th May, 2008 17:23

    Cognizant Technology Solutions has announced its first quarter results. The company's revenue for the first quarter was up 7.2% to USD 643.1 million.

  • Commodity Warrants Aus sees crude touching at $135/bbl soon 

    7th May, 2008 17:18

    Peter McGuire, Managing Director, Commodity Warrants Aus, said crude could trade at USD 125-135 per barrel in the not too distant future.

  • RBI announces rate of interest on FRB 2016

    7th May, 2008 17:00

    RBI announces rate of interest on FRB 2016. The rate of interest on the Floating Rate Bonds, 2016 (FRB, 2016) applicable for the year (May 7, 2008 to May 6, 2009)

  • Stay invested in Cairn India: Mohindar 

    7th May, 2008 16:54

    Rahul Mohindar of Viratechindia is of the view that one can stay invested in Cairn India with medium to long-term perspective. Analyst sees 20-25% upside in it.

  • Buy HPCL, BPCL for 10-15% upside: Mohindar 

    7th May, 2008 16:45

    Rahul Mohindar of Viratechindia is of the view that one can buy HPCL and BPCL for 10-15% upside for short term.

  • India’s high domestic demand immune to US slowdown: ML 

    7th May, 2008 16:39

    John Thain, Chairman and CEO, Merill Lynch feels that the M&A activity in India will drive the revenues for ML. He does not believe in the decoupling theory. India

  • Liquidity Adjustment Facility: Auction Results

    7th May, 2008 16:34

    Liquidity Adjustment Facility: Auction Results. The results of the RBI Repo/Reverse Repo auctions held on May 6, 2008.

  • Buy Ballarpur Industries, target of Rs 45: Emkay

    7th May, 2008 16:17

    Emkay Research has maintained its buy rating on Ballarpur Industries with a price target of Rs 45. Ballarpur Industries (BILT) on consolidated basis reported its Q

  • Key support for crude at $110/bbl: Purvin & Gertz 

    7th May, 2008 16:12

    Crude is at all time high and talk is of a super spike underway. Victor Shum, Senior VP, Purvin & Gertz, said the market is right now trading on momentum and there

  • Bagga underweight on technology space 

    7th May, 2008 16:08

    Ajay Bagga, CEO of Lotus Asset Management is underweight on technology space.

  • Inflation v/s Volatility – It is risk now or later!

    7th May, 2008 16:05

    Inflation is a hidden risk while volatility is transparent and it is this transparency that scares investors. However, over a long period of time impact of volatil

  • Buy ICSA India, target of Rs 626: Hem

    7th May, 2008 15:56

    Hem Securities has recommended a buy rating on ICSA India with the target price of Rs 626. The company posted excellent results for the financial year ended FY08.

  • $, oil, inflation to gradually hit Asian economies: HSBC 

    7th May, 2008 15:46

    Michael Preiss of HSBC doesn’t expect a major rally because of increasing oil prices, inflation and the dollar rates. "We are about whether the dollar is decisivel

  • Aishwarya Telecom ends with 160% premium

    7th May, 2008 15:33

    Aishwarya Telecom manufacturer of Test and Measurement Instruments like Mobile Tester, Fiber Optic Tester, Data Tester, Cable Fault Locator, etc closed at Rs 90.85

  • Bharti Airtel partner with telecom major to build cable sys

    7th May, 2008 15:30

    Bharti Airtel partners with 15 global telecom majors to build Europe India Gateway, a cable system from India to UK.The first direct, high-bandwidth optical-fiber

  • Re could touch Rs 41.5/$: PNB  

    7th May, 2008 15:24

    Arun Kaul of Punjab National Bank said the rupee would continue to remain under pressure. "The feeling in the market is that technically the rupee could touch Rs 4

  • HOEC up on large volume

    7th May, 2008 15:14

    At 3:06 pm, Hindustan Oil Exploration Company, HOEC was quoting at Rs 151.20, up Rs 11.50, or 8.23%. It has touched an intraday high of Rs 151.50 and an intraday l

  • Toshiba-JSW form JV to mfg, mkt steam turbines & generators

    7th May, 2008 15:08

    Toshiba and India’s JSW to establish JV to manufacture and market steam turbines and generators in India

  • Tech Mahindra enters into partnership with FRiENDi mobile

    7th May, 2008 14:59

    Tech Mahindra has expanded its Mobile Virtual Network Operator client base by entering into IT partnership with FRiENDi mobile, the first Mobile Virtual Network Op

  • Mahindra Lifespaces to finalise four projects soon 

    7th May, 2008 14:56

    Mahindra Lifespaces is in the last stages of finalising four projects and each project is over 100 acres, reports CNBC-TV18. Mahindra Lifespaces is not looking to

  • SAIL loses further ground

    7th May, 2008 14:50

    At 14:45 pm, Steel Authority of India, SAIL was quoting at Rs 173.40, down Rs 6.1, or 3.4%. It has touched an intraday high of Rs 181.85 and an intraday low of Rs

  • Gujarat NRE continues to slide

    7th May, 2008 14:45

    At 2:37 pm, Gujarat NRE Coke was quoting at Rs 146.90, down Rs 7.25, or 4.7%. It has touched an intraday high of Rs 154.80 and an intraday low of Rs 145.30. It was

  • BT signs contract extension with Thomson Reuters

    7th May, 2008 14:42

    BT announced that it has signed an agreement with Thomson Reuters to manage the WAN (wide area network) element of its internal IT infrastructure in an eight year

  • Sell MTNL on recovery: Joshi 

    7th May, 2008 14:40

    Sharmila Joshi of Prabhudas Lilladher is of the view that one can sell MTNL on recovery. If one want to stay with telecom get into some other telecom, one of the p

  • Ashok Leyland's April sales at 5705 units

    7th May, 2008 14:38

    Ashok Leyland has declared its April sales numbers. The company's sales stood at at 5,705 units versus 5,849 units on YoY basis.

  • Buy JSW Steel, target of Rs 1033: Khandwala

    7th May, 2008 14:27

    Khandwala Securities has recommended a buy rating on JSW Steel with a target price of Rs 1033. Higher volumes, SISCOL (Southern Iron and Steel Company Ltd) merger

  • Gokaldas trading off day's high

    7th May, 2008 14:21

    At 2:09 pm, the share was quoting at Rs 236.85, up Rs 29.50, or 14.23%. Gokaldas Export has touched an intra day high of Rs 248.80 and an intra day low of Rs 219.

  • Steel cos cut prices by Rs 4,000/tn 

    7th May, 2008 14:13

    Steel companies have cut prices by Rs 4,000 per tonne for flat products, reports CNBC-TV18. They have agreed to cut prices by Rs 2,000 per tonne on steel bars and

  • How will rising prices impact crude derivative cos? 

    7th May, 2008 14:09

    Crude prices have been surging to a new all time high, now reaching USD 122/bbl on supply threats. Other than upstream and downstream oil companies, there is a who

  • Punjab Tractor Q4 standalone PAT up at Rs 26.7 cr

    7th May, 2008 13:54

    Punjab Tractor has announced its fourth quarter results. The company's Q4 standalone net profit was at Rs 26.7 crore versus Rs 17.4 crore.

  • OMCs estimating FY09 revenue loss at Rs 180K cr

    7th May, 2008 13:52

    The Indian crude oil basket is hovering around USD 116/bbl. It has risen from nearly USD 90-95/bbl levels at the beginning of January this year. So it’s been an im

  • Nagarjuna Fertilizers sheds about 4.6 lakh shrs 

    7th May, 2008 13:37

    We have seen some bit of leverage coming off the table in all these momentum stocks, so stocks like Nagarjuna Fertilizers, Chambal Fertilizers, TTML have been seei

  • DLF among major losers

    7th May, 2008 13:23

    DLF is among major losers on the Sensex. At 1:14 pm, the share was quoting at Rs 647.10, down Rs 20.85, or 3.12%. It has touched an intraday high of Rs 674 and an

  • Eveready Inds sees 40% growth in FY09 profits 

    7th May, 2008 13:18

    Deepak Khaitan, Chairman, Eveready Industries said EBITDA margins are at 7-8% and they hope to take it to 12% in the coming year. He told CNBC-TV18 that sales is e

  • Mercator scouts for Chinese yards; denies finalization 

    7th May, 2008 13:16

    Mercator Lines is close to buying two dry bulk vessels, reports CNBC-TV18, quoting sources. The shipping major's vessels deal size is seen at USD 110 million. The

  • Concrete gain for Mysore Cements

    7th May, 2008 13:12

    At 1:03 pm, Mysore Cements was quoting at Rs 37.70, up Rs 2.10, or 5.90%. It has touched an intraday high of Rs 38.75 and an intraday low of Rs 35.50. It was tradi

  • BHEL top loser on Sensex

    7th May, 2008 13:00

    Bharat Heavy Electricals, BHEL is top loser on the Sensex. At 12:55 pm, the share was quoting at Rs 1,795.50, down Rs 64.95, or 3.49%. It has touched an intraday h

  • TCS top gainer on Sensex

    7th May, 2008 12:56

    Tata Consultancy Services, TCS is top gainer on the Sensexex. At 12:45 pm, the share was quoting at Rs 966, up Rs 28.15, or 3%. It has touched an intraday high of

  • Subscribe to Gokul Refoils and Solvent's IPO: Hem

    7th May, 2008 12:47

    Gokul Refoils and Solvent's issue will open for subscription on May 8, 2008 with its initial public offering (IPO) of 71,58,392 equity shares of face value Rs 10 e

  • Hinduja Foundries plans further investments of Rs 350cr

    7th May, 2008 12:40

    Hinduja Foundries Limited, the foundry arm of Hinduja Group, has registered 14% growth in turnover during 2007-08 to Rs.451.42 Crores as compared to Rs.395.24 Cr

  • Tulsian positive on real estate sector

    7th May, 2008 12:35

    Investment Advisor SP Tulsian is positive on real estate sector because all of them have corrected by about 35-50% whether it is frontliners or the midcap and when

  • Sobha Developers launches Sobha Celsia in Bangalore

    7th May, 2008 12:31

    Sobha Developers Limited (SDL), today, launched yet another world class residential project “Sobha Celsia” in Bangalore, one of the fastest growing metros in India

  • Praj Ind Q4 net profit at Rs 58.1 cr

    7th May, 2008 12:22

    Praj Industries has announced its FY08 numbers. It has posted Q4 net profit of Rs 58.1 crore as against Rs 27 crore in same period of last year and net sales of Rs

  • Autoline Bd meets today to consider pref allotment

    7th May, 2008 12:18

    Autoline Industries Board will consider a 10% preference issue to Rakesh Jhunjhunwala, reports CNBC-TV18, quoting sources. The Autoline Industries Board will meet

  • @home comes to Faridabad

    7th May, 2008 12:14

    @home comes to Faridabad. With a wide range for your living, dining, bedroom, kitchen and garden; ‘@home’ has products that appeal across various segments of the s

  • Tata Steel eyes Brazilian iorn ore, stock up

    7th May, 2008 12:08

    At 11:58 am, Tata Steel was quoting at Rs 833.50, up Rs 17.10, or 2.09%. It has touched an intraday high of Rs 836.90 and an intraday low of Rs 814. The company is

  • JSW Steel an underperformer: Karvy

    7th May, 2008 11:59

    Karvy Stock Broking has maintained its underperformer rating on JSW Steel with a price target of Rs 878. JSW Steel has reported substantial erosion in profitabilit

  • HPCL drops further

    7th May, 2008 11:57

    At 11:48 am, Hindustan Petroleum Corporation, HPCL was quoting at Rs 245, down Rs 9.1, or 3.58%. It has touched an intraday high of Rs 253.55 and an intraday low o

  • Yamaha introduces Alba with electric start

    7th May, 2008 11:51

    India Yamaha Motor Pvt. Ltd. has announced the launch of all new Yamaha Alba106 cc with electric start and stylish and trendy graphics, thus offering robustness an

  • SET hoping to ride the IPL wave

    7th May, 2008 11:47

    Sony Entertainment Television is hoping to ride the IPL wave back into the No.3 spot. With four new shows hosted by celebrities like Salman Khan, Urmila Matondkar

  • Telecom cos sign agreement to build undersea cable system

    7th May, 2008 11:41

    Telecommunications companies sign agreement to build high bandwidth undersea cable system from UK to India. The Europe India Gateway (EIG) cable system, which will

  • Glenmark Pharma backs on track

    7th May, 2008 11:34

    At 11:26 am, Glenmark Pharma was quoting at Rs 679, up Rs 35.40, or 5.50%. It has touched an intraday high of Rs 687.70 and an intraday low of Rs 642. It was tradi

  • EMCO bags an order worth Rs 126cr

    7th May, 2008 11:27

    EMCO Ltd., one of the Leading Indian manufacturing companies and End-to-End solution Provider in Power Transmission and Distribution Sector, have bagged an Order f

  • Schroders to enter India for MF, PMS biz: Srcs

    7th May, 2008 11:25

    According to sources, Schroders will enter India for offshore products, mutual funds and PMS businesses, reports CNBC-TV18. Schroders has filed with SEBI seeking a

  • NIIT has target of Rs 117-121: Bose 

    7th May, 2008 11:20

    Technical Analyst, Rajat K Bose is of the view that NIIT has target of Rs 117-121.

  • JPMorgan AMC offers Optimiser Systematic Transfer Plan

    7th May, 2008 11:14

    JPMorgan Asset Management India Private Limited announced their Optimiser systematic transfer plan. With this option, investors can invest a lump sum amount in JPM

  • Union Bank Q4 net up 128% at Rs 521.1 cr

    7th May, 2008 11:13

    Union Bank has announced its FY08 numbers. The bank has posted Q4 net profit of Rs 521.1 crore as against Rs 228.6 crore in same quarter of last year and net inter

  • MTN buyout to be EPS neutral from 3rd yr for Bharti: JPM 

    7th May, 2008 10:58

    Sanjay Chawla of JPMorgan feels that Bharti’s financing ability is lower than Vodafone or China Mobile. A USD 800 million, dividend payout from MTM can support the

  • We may expect mkt to fall tdy mirroring global cues

    7th May, 2008 10:43

    European markets declined last night, while the US indices improved after starting in the red. However, most Asian markets are down this morning, with the Hang Sen

  • See retail interest coming back: Kotak Sec

    7th May, 2008 10:38

    SA Narayan, MD of Kotak Securities sees some interest coming back from the retail desk. He said the retail desk is interested in short-term trade at the moment. He

  • Nifty has support at 5100-5080

    7th May, 2008 10:31

    According to Angel Broking Technical Analysis report, on the downside, 5,100-5,080 levels may act as support for Nifty.

  • B-I-G salary, S-M-A-L-L bank balance!

    7th May, 2008 10:30

    Simple strategies to help you cut down on spending habits and feel richer at the end of the month.

  • Gokaldas Exports gains 11%

    7th May, 2008 10:27

    At 10:16 am, Gokaldas Exports was quoting at Rs 230, up Rs 22.65, or 10.92%. Blacksotne is going to consider delisting options for the company, reports CNBC-TV18.

  • Pritish Nandy Comm locked at 10% upper circuit

    7th May, 2008 10:20

    Pritish Nandy Communications is locked at 10% upper circuit. At 10:11 am, the share was quoting at Rs 64.20, up Rs 5.80. There were pending buy orders of 44,015 sh

  • Bharti Airtel top loser on the Sensex

    7th May, 2008 10:12

    Bharti Airtel is the top loser on the Sensex. At 10:03 am, the share was quoting at Rs 817, down Rs 29.6, or 3.5%. It was trading with volumes of 138,619 shares. Y

  • Market ends with modest loss; Oil & gas, IT gain

    7th May, 2008 09:56

    Markets made a smart recovery from the day’s lows, but closed in red. Capital goods, realty and banking indices witnessed selling pressure. The BSE midcap and smal

  • Aishwarya Telecom lists at Rs 50.10

    7th May, 2008 09:54

    Aishwarya Telecom manufacturer of Test and Measurement Instruments like Mobile Tester, Fiber Optic Tester, Data Tester, Cable Fault Locator, etc listed at Rs 50.10

  • Surging oil prices may worry mkts: Kotak Secs

    7th May, 2008 09:36

    Sanjeev Prasad of Kotak Securities said that the surging oil prices is a very bad situation for the markets.There is a huge amount of uncertainity in the market, h

  • Consolidation phase

    7th May, 2008 09:33

    Stock futures too are showing fatigue on balance though some individual names still deserve mention. 2 stocks on top of my radar would be Dabur and MRPL.

  • Nifty futures added 6.7 lakh shares in OI 

    7th May, 2008 09:11

    FIIs net sold Rs 289 crore in Nifty futures and Rs 281 crore in Stock futures. Nifty futures added 6.7 lakh shares in Open Interest at 1t 18-point premium. Nifty O

  • Mkts to stay rangebound over next couple of days 

    7th May, 2008 09:01

    The markets are trading rangebound; there's nothing wrong with the markets spending time in a trading range. However, one should guard against giving up the gains

  • Rupee opens at Rs 40.99 per dollar

    7th May, 2008 09:00

    The Indian Rupee opened at Rs 40.99 per dollar versus Rs 40.94 yesterday.

  • Equity calls: Sinha, Mutha 

    7th May, 2008 08:55

    Some profit booking is expected. Support for the Nifty is seen at 5,000 as huge Put Writing has been seen at this level. The Nifty may face resistance at 5,200 on

  • F&O cues: Futures Open Int up by Rs 391 cr

    7th May, 2008 08:50

    F&O cues: Nifty Futures add 6.7 lakh shares in Open Int. Futures Open Int up by Rs 391 crore, Options Open Int up by Rs 547 crore.

  • Crude prices continue to surge; hits $122/bbl

    7th May, 2008 08:46

    Crude prices surged to a new all time high of USD 122/bbl on threats to supply in Nigeria and Iraq and growing Asian demand. In after hours access trading, crude

  • Fund Action witnessed in stocks on 6th May

    7th May, 2008 08:37

    On May 6, fund action was witnessed in Aztecsoft, Indiabulls Securities, Lakshmi energy and foods, SMS Pharmaceuticals, Suryajyoti spinning mills, Camson Bio Techn

  • Tech Mahindra focuses on large fixed-price deals

    7th May, 2008 08:34

    As clients in the US finally give shape to their IT budget, some of the Indian service providers are exploring newer pricing models to ensure margins do not dip.

  • Haldia Petro buys out L&T stake in HPL Cogen

    7th May, 2008 08:31

    Haldia Petrochemicals Ltd has acquired management control in HPL Cogeneration Ltd, formerly a 49:51 power generation joint venture between HPL and L&T. In a cash d

  • Union Bank Q4 net seen up 22.72% at Rs 280 cr

    7th May, 2008 08:22

    Union Bank of India has announced its Q4FY08 numbers. According to CNBC-TV18 estimates, the bank is expected to post 22.72% growth in its net profit of Rs 280.52 c

  • Wall St ends with moderate gain; Dow up 51 points

    7th May, 2008 08:08

    US markets rose to a four month high. Financial and energy shares sparked the positive moves on the US indices. Fannie Mae climbed 8.9% after dropping as much as 7

  • See FY09 revenue at over Rs 65 cr: Aishwarya Telecom 

    7th May, 2008 22:11

    G Rama Manohar Reddy, MD of Aishwarya Telecom said that his company is looking at a revenue of Rs 65 crore and net profit margin of 15% in FY09. He expects to fini

  • Mkts to trade rangebound with negative bias: IL&FS 

    7th May, 2008 19:41

    Vibhav Kapoor of IL&FS said despite the Fed injecting liquidity, not much of that liquidity seems to have flown into India. "That is definitely a matter of concern

  • Enjoy your dream holidays in Singapore with Canon

    7th May, 2008 19:10

    Canon India Pvt. Limited, India’s one of the leading Complete Digital Imaging Company plans to double the holiday spirit with its exciting "Summer Promotion" offer

  • Consortium with REpower awarded 954mw of wind farm tender

    7th May, 2008 18:44

    Consortium with REpower awarded 954 MW of wind farm tender in Québec/Canada. The five wind farm projects with a total capacity of 954 MW have in-service dates betw

  • Who owns the Sensex? 

    7th May, 2008 18:35

    Deepak Mohoni, a stock trader, says he owns the word Sensex and asserts to have coined the term in one of his articles way back in 1989. However, the BSE had appli

  • Mahindra Agribusiness attains No 1 position in grape export

    7th May, 2008 18:26

    Mahindra Agribusiness attains no. 1 position in grape exports

  • MRPL FY08 standalone net profit at Rs 1272.2 cr

    7th May, 2008 18:13

    MRPL has announced its FY08 results. The company's FY08 standalone net profit was at Rs 1272.2 crore versus Rs 525.5 crore, YoY.

  • PJ Commodity expects crude to touch $123/bbl 

    7th May, 2008 18:00

    Shreekant Jha, MD, P J Commodity Ventures said he is looking at crude reaching USD 122 per barrel and he gives it a target ofUSD 130 per barrel in the near future.

  • Statistical Tables Relating to Banks in India 1979-2007

    7th May, 2008 17:54

    Statistical Tables Relating to Banks in India 1979-2007. For definitions of ratios presented in this publication reference may be made to the ‘Explanatory Notes’ g

  • Mkts to trade volatile with more downside risk: Lotus AM 

    7th May, 2008 17:48

    Ajay Bagga, CEO, Lotus Asset Management, said the markets are likely to trade volatile in the short-term with more risks on the downside. “As global cues improve,

  • Tata Sky crosses 2 million milestone

    7th May, 2008 17:39

    Tata Sky Ltd., the JV between the TATA Group and STAR, announced that it has crossed the two million connections mark milestone. Tata Sky remains the fastest-growi

  • Crude not sole contributor to inflation: Planning Comm

    7th May, 2008 17:27

    While speaking in Parliament a few weeks back, the Finance Minister blamed high crude prices as the primary reason for high inflation. But Montek Singh Ahluwalia,

  • RBI seeks comment on norms for branch/liaison offices

    7th May, 2008 17:19

    RBI seeks public comment on norms for branch/liaison offices in India by foreign entities. It has proposed to make the delegated powers effective from July 1, 2008

  • Data on ECB/FCCB for March 2008

    7th May, 2008 17:13

    Data on ECB/FCCB for March 2008.

  • Mohindar sees good upside in Infosys on the short term 

    7th May, 2008 16:56

    Rahul Mohindar of Viratechindia sees good upside in TCS, Infosys, Wipro on the short-term.

  • RIL-RNRL case intervention in public interest: Govt  

    7th May, 2008 16:52

    The government has filed a rejoinder to the objection over the government being made party to the RIL-RNRL KG Basin case. The government has said that any interim

  • RBI Reference Rate for US $ & Euro

    7th May, 2008 16:42

    RBI Reference Rate for US $ & Euro. The Reserve Bank of India’s Reference Rate for the US dollar is Rs.40.69 and the Reference Rate for Euro is Rs.63.08 on May

  • Buy Pratibha Industries, target of Rs 380: Angel

    7th May, 2008 16:38

    Angel Broking has maintained its buy rating on Pratibha Industries with a target price of Rs 380. For 4QFY2008, Pratibha Industries (PIL) reported a robust 77% yoy

  • FMCG, bank look attractive: Bagga 

    7th May, 2008 16:19

    Ajay Bagga, CEO of Lotus Asset Management is of the view that FMCG and banking are looking quite attractive.

  • Buy 3i Infotech, tgt Rs 188: Angel Broking

    7th May, 2008 16:15

    Angel Broking has maintained buy rating on 3i Infotech with target price of Rs 188. We believe these valuations are fairly attractive, given the strong growth expe

  • Stocks to watch: HPCL, TCS, Bharti 

    7th May, 2008 16:11

    The Sensex closed down 33.70 points or 0.19% at 17339.31, and the Nifty was down 9.15 points or 0.18% at 5135.50.

  • YouTube launches site catered to Indian users

    7th May, 2008 16:08

    YouTubeTM, the world’s most popular online video community that allows people to discover, watch and share originally created content, today announced the launch o

  • Yes Bank appoints Radha Singh as Independent Director

    7th May, 2008 15:56

    YES BANK, India’s new age private sector Bank today announced the appointment of Ms. Radha Singh as an Independent Director on the Board of YES BANK at the Board m

  • A retail gem to invest in! 

    7th May, 2008 15:49

    Ashish Maheshwari Managing Director, India Capital Markets on Koutons Retail said, “Koutons Retail, has delivered amazing results and their stock may touch 1100 le

  • ExlService Holdings revenues were $50.9mn,increase of 27.8%

    7th May, 2008 15:45

    ExlService Holdings revenues for the quarter were $50.9 million compared to $39.9 million in the quarter ended March 31, 2007, an increase of 27.8%.

  • Medium-term crude seen at $145-151/bbl: Anand Rathi Comm 

    7th May, 2008 15:31

    Kishore Narne of Anand Rathi Commodities said he continues to be long on crude at USD 120 and suggested that everybody can buy crude at this point of time. He told

  • Biofuels biz to see significant growth: Praj Ind 

    7th May, 2008 15:30

    Shashank Inamdar, Praj Industries said that going forward, the company will see significant growth in biofuels area. “There is going to be significant growth that

  • DCB posts net profit of Rs 38.33cr

    7th May, 2008 15:16

    DCB posts Net Profit of Rs 38.33 crores for FY 2007-08, over 400% increase from FY 2006-07. Operating Profit of the bank at Rs 109.61 crores in FY 2007-08 as again

  • Autoline Ind to consider pref allotment, stk up

    7th May, 2008 15:13

    At 3:01 pm, Autoline Industries was quoting at Rs 267.50, up Rs 8.65, or 3.34%. The company has board meetings to consider issue of shares on preferential basis, r

  • Dabur down on news of triming down store plan

    7th May, 2008 15:00

    At 2:50 pm, Dabur India was quoting at Rs 106.90, down Rs 3.05, or 2.77%. It has touched an intraday high of Rs 110.75 and an intraday low of Rs 104.30. Dabur is l

  • Koutons Retail may test Rs 1000: Maheshwari 

    7th May, 2008 14:58

    Ashish Maheshwari, Managing Director of India Capital Markets is of the view that Koutons Retail may test Rs 1000.

  • Wanbury wins the 'Best Launch Award' for C-Pink

    7th May, 2008 14:50

    Wanbury Ltd has bagged an Award for 'Best Launch of the year' for their success in C -Pink, an iron supplement for treatment of anemia especially for pregnant wome

  • R Ravi positive on 3i Infotech

    7th May, 2008 14:48

    R Ravi of Karvy Stock Broking is positive on 3i Infotech. Analyst also positive on Firstsource, Subex, Mastek because they have got the business model in place, th

  • Hold cash till dust settles on oil, inflation: Centrum Cap 

    7th May, 2008 14:42

    S Balakrishnan, ED, Centrum Capital, said he would stay away from the markets if oil continues to buy and inflation is going to spook. "I would reduce my positions

  • Block deal in Idea Cellular, stock down

    7th May, 2008 14:40

    At 2:32 pm, Idea Cellular was quoting at Rs 101.65, down Rs 1.65, or 1.6%. It has touched an intraday high of Rs 104.90 and an intraday low of Rs 100. There was a

  • Bullish on 3i Infotech, Firstsource, Mastek: Karvy 

    7th May, 2008 14:38

    R Ravi of Karvy Stock Broking told CNBC-TV18 that he is very positive on 3i Infotech because they are doing quite well. He is also positive on Firstsource, Subex a

  • Mastek ranked in Top 20 in IAOP's Global Outsourcing 100

    7th May, 2008 14:34

    Mastek Ltd, a leading IT solutions player with global operations in providing new technology and IP-led enterprise solutions to insurance, government, and financia

  • Stay with Bharti Airtel, says Joshi 

    7th May, 2008 14:23

    Sharmila Joshi of Prabhudas Lilladher is of the view that one can stay with Bharti Airtel at current level.

  • Shree Cement Q4 adjusted PAT seen at Rs 118.56 cr

    7th May, 2008 14:20

    Shree Cement is to announce its Q4FY08 numbers. According to CNBC-TV18 estimates, the company is expected to post adjusted profit after tax, PAT at Rs 118.56 crore

  • Crude hit: Jet Air readies $50m cost-cutting plan 

    7th May, 2008 14:12

    Rising oil prices is taking its toll on the aviation sector. Jet Airways, which currently has market share of 30% along with its low cost carrier JetLite will shel

  • Yes Bank sees $ trading at Rs 42 soon  

    7th May, 2008 13:58

    Ajay Mahajan of Yes Bank said the mood in the market is to buy dollars on account of rising crude and international commodity prices. “We could potentially see Rs

  • Bharti Airtel has support at Rs 800-820: Gujral 

    7th May, 2008 13:54

    Technical Analyst, Ashwani Gujral is of the view that Bharti Airtel has support at Rs 800-820.

  • Kingston HyperX DDR3 Memory gets NVIDIA SLI Certification

    7th May, 2008 13:40

    Kingston Technology announced its family of HyperX DDR3 memory modules have been SLI-certified by NVIDIA Corporation, as part of its program to offer gaming enthus

  • InfoPrint Solutions launches suite of TransPromo solutions

    7th May, 2008 13:25

    InfoPrint Solutions Company, a joint venture between IBM and Ricoh, has launched a suite of TransPromo solutions which will enable marketers to create transactiona

  • CNBC-TV18 Poll on crude: 33% see prices above $130/bbl

    7th May, 2008 13:21

    According to a CNBC-TV18 Poll on crude oil, 33% of respondents expect crude to peak above USD130/bbl. 67% of the respondents expect crude to peak above the USD150/

  • L&T loses further ground

    7th May, 2008 13:17

    At 1:15 pm, Larsen and Toubro, L&T was quoting at Rs 2,956.95, down Rs 106.1, or 3.46%. It has touched an intraday high of Rs 3,069.95 and an intraday low of Rs 2,

  • Buy Cairn on declines: Gujral 

    7th May, 2008 13:14

    Technical Analyst, Ashwani Gujral is of the view that one can buy Cairn India on declines. It has target of Rs 300 and then Rs 360.

  • Samsung launches India’s first DVD Writer

    7th May, 2008 13:07

    Samsung India Electronics Pvt Ltd., announced the launch of the industry’s fastest DVD writer, the new Super-WriteMaster™ SH-S223 in the Indian market.

  • Arena Animation launches AAASP 2008

    7th May, 2008 12:56

    Arena Animation has announced the launch of the brand new version of its comprehensive 2.5year high-end animation-training course, the Arena Animation Academy Spec

  • IDS forays into Seychelles, Africa

    7th May, 2008 12:47

    IDS Softwares Pvt Ltd, global leader in providing integrated IT solutions for the hospitality industry, has announced its foray into the island nation of Seychelle

  • TRAI to consider calling card by long distance carriers

    7th May, 2008 12:42

    The Telecom Regulatory Authority of India (TRAI) has said that it will look into the possibility of long distance carriers providing calling card, reports CNBC-TV1

  • Aishwarya Telecom fair value at Rs 50: Tulsian 

    7th May, 2008 12:38

    SP Tulsian of sptulsian.com says majority of turnover of Aishwarya Telecom is coming more from the sourcing i.e. of a trading nature and there are many players ava

  • Great Eastern Shipping an outperformer: Karvy

    7th May, 2008 12:33

    Karvy Stock Broking has recommended an outperformer rating on Great Eastern Shipping Company with a target price of Rs 515. GE shipping (Standalone) reported reven

  • Shiv Vani Oil & Gas flares up

    7th May, 2008 12:24

    At 12:15 pm, Shiv Vani Oil & Gas Exploration Services was quoting at Rs 618.60, up Rs 46.85, or 8.19%. It has touched an intraday high of Rs 624.75 and an intraday

  • IBS Software enters Rotterdam, Netherlands

    7th May, 2008 12:22

    IBS Software, a leading global provider of new-generation IT solutions to the Travel, Transportation and Logistics industry announced the setting up of an office a

  • Union Bank rises on good bottomline growth

    7th May, 2008 12:17

    At 12:08 pm, Union Bank of India was quoting at Rs 175.60, up Rs 3.35, or 1.94%. It has touched an intraday high of Rs 177.90 and an intraday low of Rs 172.25. The

  • JPMorgan AMC offers Optimiser Systematic Transfer Plan

    7th May, 2008 12:08

    JPMorgan AMC offers Optimiser Systematic Transfer Plan, through which investors can invest a lump sum amount in JPMorgan India Liquid Fund or JPMorgan India Liquid

  • Vodafone drops STD & roaming rates

    7th May, 2008 12:07

    Vodafone Essar, one of India’s leading cellular service providers, today announced a uniform tariff structure for STD and Roaming services for all customers across

  • Singapore is Gati International’s regional headquarters

    7th May, 2008 11:59

    Gati, a pioneer and leader in the Express Distribution and Supply Chain Solutions in India, announces Singapore as the Regional Headquarters. The intention is to u

  • Axis Bank tumbles

    7th May, 2008 11:52

    At 11:44 am, Axis Bank was quoting at Rs 910.50, down Rs 37.35, or 3.94%. It has touched an intraday high of Rs 947.05 and an intraday low of Rs 901.05. It was tra

  • Sell JSW Steel, tgt Rs 716: HDFC Sec

    7th May, 2008 11:51

    HDFC Securities has down graded JSW Steel to sell rating from under performer with target price of Rs 716. We have revised our fully diluted FY09E EPS estimates do

  • Satyam Computer an outperformer: Karvy

    7th May, 2008 11:43

    Karvy Stock Broking has maintained its outperformer rating on Satyam Computer Services with a revised price target to Rs 570. On top of 2 strong preceding quarters

  • Accumulate Ballarpur Industries: Edelweiss

    7th May, 2008 11:38

    Edelweiss research has maintained accumulate rating on BILT. At CMP of Rs 34, the stock is trading at 6.6x FY08E EPS of Rs 5.2 and 6.3x FY09E EPS of Rs 5.4.

  • Fidelity MF ties up with Federal Bk for distribution

    7th May, 2008 11:32

    Fidelity Fund Management has entered into an agreement with Federal Bank, for the distribution of its products.

  • Mahindra World City Jaipur operational by July 2008

    7th May, 2008 11:26

    Mahindra Lifespaces has reported Q4 net profit at Rs 25.49 crore versus Rs 0.80 crore and total income at Rs 69 crore versus Rs 37.8 crore.

  • GVK Power board nod for separate co for energy verticals 

    7th May, 2008 11:21

    Isaac George, CFO, GVK Power informed CNBC-TV18 that their Board has also cleared proposals to form a separate company for energy division. He added that there are

  • Buy KSB Pumps, target of Rs 451: Sharekhan

    7th May, 2008 11:20

    Sharekhan has maintained its buy rating on KSB Pumps with a price target of Rs 451. KSB Pumps' Q1CY2008 results were slightly below research firm's expectation bec

  • See great opportunities in fin space: Norwest Venture  

    7th May, 2008 11:13

    Niren Shah, MD of Norwest Venture Partners feels that some impact of the US markets and Inflation will keep Indian markets range bound. Valuations have now become

  • Brokers bullish on Bharti Ship, IDFC

    7th May, 2008 11:11

    Brokerage houses are bullish on Bharti Shipyard, IDFC, Bank of India, Dena Bank, BILT and KSB Pumps.

  • UCO Bank can test Rs 57-58: Bose 

    7th May, 2008 10:52

    Technical Analyst, Rajat K Bose is of the view that UCO Bank can test Rs 57-58 in the short to medium-term.

  • DLF may slips to Rs 644: Bose 

    7th May, 2008 10:40

    Technical Analyst, Rajat K Bose is of the view that if DLF were to fall below Rs 657 then it may slips to Rs 644. It having broken the support level around Rs 691

  • DCB declares results, stk down 3.4%

    7th May, 2008 10:34

    At 10:25 am, Development Credit Bank was quoting at Rs 108.05, down Rs 3.9, or 3.48%. The company has declared its results for the quarter ended March 2008 (Q4). T

  • Cairn India hits 52-week high

    7th May, 2008 10:31

    Cairn India has touched a 52-week high of Rs 272. At 10:23 am, the share was quoting at Rs 270, up Rs 10.90, or 4.21%. It was trading with volumes of 1,002,430 sha

  • Buy Dena Bank, tgt Rs 90: Karvy

    7th May, 2008 10:30

    Karvy research has maintained buy rating on Dena Bank with target price of Rs 90. Dena Bank reported strong 4QFY2008 with net profit yoy growth of 153% to Rs1.1 bi

  • Nifty may correct upto 5102-5058

    7th May, 2008 10:25

    According to Angel Broking Market Outlook report, if Nifty trades below 5154 for the first half-an-hour of trade then it may correct upto 5102 - 5058.

  • Mahindra Lifespace advances 5.6%

    7th May, 2008 10:15

    At 10:07 am, Mahindra Lifespace Developers was quoting at Rs 600, up Rs 31.80, or 5.60%. It has touched an intraday high of Rs 606 and an intraday low of Rs 566. I

  • See Rupee's next target at 41.25-41.5/$: StanChart Bk  

    7th May, 2008 09:58

    Sundeep Bhandari of Standard Chartered Bank is negative on the rupee. "Having broken the Re 40.8/ USD level, I think the next target be Re 41.25-41.5/ USD level,"

  • Nifty may test 5050 support levels

    7th May, 2008 09:55

    According to Karvy Stock Broking Technical Analysis report, Nifty might once again test the 5050 support levels.

  • Mkts may see-saw movement

    7th May, 2008 09:50

    According to Khandwala Securities Market Preview report, the local equity markets are likely to see-saw between the red and green today as the bull-bear fight ente

  • Mkt likely to see bounce back above 5165 level: Rajat Bose 

    7th May, 2008 09:36

    Rajat Bose of rajatkbose.com thinks, today is likely to see a bounce back and could go above that 5165 level. Once it goes above that people will come to initiate

  • Development Credit Bk Q4 net loss at Rs 7.6 cr

    7th May, 2008 09:12

    Development Credit Bank, DCB has declared its results for the quarter ended March 2008 (Q4). The bank registered a net loss of Rs 7.6 crore versus loss of Rs 41 la

  • Paanchvi Pass fails, IPL clean-bowls Star's hyped show

    7th May, 2008 09:11

    Shah Rukh Khan, Owner, Kolkata Knight Riders’ magic would have worked for his IPL team. But it is clearly not reaping the same results for the much-hyped Star Plus

  • Sell MCX June Gold at Rs 11620

    7th May, 2008 09:01

    For gold, one could sell MCX June at Rs 11,620 per 10 grams with a target of Rs 11,475 per 10 grams, says Sushil.

  • Money calls: Kaul, Lasrado

    7th May, 2008 08:56

    The bond market is likely to see active trading with a note of caution on speculation about what the RBI would do next to suck out excess liquidity from the system

  • Avoid bargain hunting for now

    7th May, 2008 08:52

    The outlook for the markets today is guarded as the overseas cues and weak domestic sentiments may result in more declines. Ignore bargain hunting for now.

  • Market cues: FIIs net sell $76 mn

    7th May, 2008 08:47

    Market cues: FIIs net sell $76 mn. MFs net buy Rs 141.3 cr in equity on May 5.

  • Stocks in news: Praj Ind, Autoline Ind, Union Bank

    7th May, 2008 08:42

    Stocks in news: Praj Ind has results today. Autoline Industries has board meet to consider issue of shares on preferential basis. Union Bank Of India is going to m

  • Equity markets not out of the woods yet: LGT Bank 

    7th May, 2008 08:36

    On answering a query on the sustainability of rally in Asian markets Benjamin Pedley, Executive Director, Investment Strategist at LGT Bank told CNBC-TV18 that the

  • Satyam, SAP form global services partnership

    7th May, 2008 08:33

    Enterprise software maker SAP and Satyam Computer Services on Tuesday announced a new partnership to help businesses accelerate their technology deployment and imp

  • We’ll hold margins, cement cos tell Govt

    7th May, 2008 08:28

    Major cement producers have assured the Government that they would hold their margins to help control inflation but have also asked the Government to facilitate th

  • Indian ADRs: Sterlite up 4.6%, MTNL down 3.2%

    7th May, 2008 08:18

    Indian ADRs: Sterlite, Tata Comm, Infosys, Satyam and Wipro gained, while MTNL and ICICI Bank plunged.

  • Asian markets end lower

    7th May, 2008 08:05

    Asian markets ended lower. China's Shanghai Composite fell 4.13% or 154.36 points at 3,579.15. Hong Kong's Hang Seng was down 2.48% or 654.92 points at 25,610.21.

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