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Moneycontrol News Archive : 8 May, 2008

  • Indiabulls Property Invt Trust files for S'pore REIT: Srcs

    8th May, 2008 22:34

    Indiabulls Property Investment Trust has filed for a Singapore REIT, reports CNBC-TV8, quoting sources. Indiabulls Real Estate is the trustee manager. The REIT wou

  • Orient Express plans to sell 9 core assets

    8th May, 2008 22:22

    Orient Express said it has not received any new communication received from Indian Hotels on a strategic tie-up, reports CNBC-TV18. The company is looking to sell

  • SC ruling on FBT to benefit oil & gas ind: BMR Associates 

    8th May, 2008 20:07

    A Supreme Court decision on May 6 could have a positive impact on the oil & gas industry as well set a precedent for FBT, or Fringe Benefit Tax, interpretation. Mu

  • Proposed merger of Ramsarup Lohh into Ramsarup Inds

    8th May, 2008 19:10

    Proposed merger of ramsarup lohh udyog limited into ramsarup industries limited gets shareholders approval.

  • LIC,Corporation Bk launch Payment of LIC Premium thr SMS

    8th May, 2008 18:59

    LIC and Corporation Bank have launched Payment of LIC Premium through Mobile Phones for the debit card holders of Corporation Bank. The product was formally launc

  • Stay away from textile sector: N Shah 

    8th May, 2008 18:46

    Nilesh Shah, Deputy MD, ICICI Prudential AMC is of the view that one should stay away from textile sector.

  • NRB Bearings inaugurates Pantnagar manufacturing facility

    8th May, 2008 18:34

    NRB Bearings Limited, manufacturers of the widest range of bearings and automotive components inaugurated its new manufacturing facility at Pantnagar, Uttarakhand.

  • Satyam safer than Infosys: E Mathew 

    8th May, 2008 18:19

    Technical Analyst, E Mathew is of the view that Satyam Computer Services is safer than Infosys. Around Rs 445-455 would be a good region to maybe initiate a long c

  • Rupee, bonds finish lower

    8th May, 2008 18:07

    The spot rupee closed lower at Rs 41.75 per USD as against its previous close of Rs 41.34. The widely traded s 8.24%, 2018 paper ended lower at Rs 102.44 rupees as

  • BSI implements Oracle solution at Indian Card Clothing

    8th May, 2008 17:57

    Blue Star Infotech announced that it has successfully implemented the Oracle eBusiness Suite 11i for the Indian Card Clothing Company Ltd. BSI completed the imple

  • Inds research supports Geometric’s roadmap for PLM

    8th May, 2008 17:46

    Recent Industry Research supports Geometric’s roadmap for PLM integration

  • Nandan Biomatrix announces BIEZ

    8th May, 2008 17:37

    Nandan Biomatrix Ltd and IL&FS Infrastructure Development Corporation Ltd have come together to establish a first of its kind Bio Investment Eco Industrial Zone (

  • Need for policy continuity in commodities: MCX 

    8th May, 2008 17:18

    Joseph Massey, DMD of MCX said the ban would significantly impact the business more than the commodity verticals. He observed that it will affect sentiment and if

  • Stocks to watch

    8th May, 2008 17:14

    Sanjay Chhabria, Equity Analyst is positive on TTK Prestige, the company should give an EPS of around Rs 16 for FY08, On Blue Bird India he said that the Blue Bird

  • Tata Infrastructure buys banking, sells engg & cap

    8th May, 2008 17:04

    Tata Infrastructure Fund increased its weightage to banking sector, while decreased its exposure to engineering & capital goods.

  • JSW Steel reduces prices to contain inflation

    8th May, 2008 17:00

    As a support to the Governments initiative in combating inflation, JSW Steel as a responsible corporate citizen announces a price reduction of four thousand rupees

  • Ashok Leyland to double capacity within three years 

    8th May, 2008 16:52

    Ashok Leyland's Q4 FY08 net profit was up at Rs 180.5 crore as against Rs 171 crore last year. It's net sales came in at Rs 2,562 crore as compared to Rs 2,291 cro

  • Buy JSW Steel, target of Rs 1100: Angel

    8th May, 2008 16:45

    Angel Broking has maintained its buy rating on JSW Steel with a revised target price of Rs 1100. In 4QFY2008, JSW Steel posted a yoy 68% surge in standalone Toplin

  • Not interested in bidding for MTN: China Mobile 

    8th May, 2008 16:40

    MTN, on Monday had said that they are in exploratory talks with Bharti-Airtel and no reference was made to a situation where they were looking at inviting bids for

  • Liquidity Adjustment Facility: Auction Results

    8th May, 2008 16:37

    Liquidity Adjustment Facility: Auction Results. The results of the RBI Repo/Reverse Repo auctions held on May 7, 2008.

  • CRISIL assigns IPO grade 3/5 to Ramky Infrastructure

    8th May, 2008 16:19

    Crisil has come out with a report on Ramky Infrastructure's IPO. Crisil has assigned IPO Grade "3/5" to its IPO. The company aims to raise Rs 4 billion by this pro

  • CRISIL assigns 3/5 grade to IPO of Ramky Infrastructure

    8th May, 2008 16:18

    CRISIL IPO grade 3/5 assigned to the IPO of Ramky Infrastructure Ltd.The grading reflects Ramky Infra.s good business position in the waste water segment of the co

  • Buy Tata Metaliks, tgt Rs 220: PINC

    8th May, 2008 16:08

    PINC research has maintained buy rating on Tata Metaliks wih target price of Rs 220. Tata Metaliks Ltd. (TML) reported net sales of Rs3.1 billion in Q4FY08, a YoY

  • Hold Gateway Distriparks, target of Rs 140: PINC

    8th May, 2008 15:56

    PINC Research has downgraded its rating to hold on Gateway Distriparks with a 12-month price target of Rs 140. Gateway Distriparks Ltd’s (GDL) Q4FY08 results were

  • 364 day Treasury Bills: Auctions Results

    8th May, 2008 15:53

    364 day Treasury Bills: Auctions Results. Date of Auction: May 7, 2008.

  • 91 day Treasury Bills: Auctions Results

    8th May, 2008 15:47

    91 day Treasury Bills: Auctions Results. Date of Auction: May 7, 2008.

  • Scheduled Banks Statement of Position as on April 25

    8th May, 2008 15:39

    Scheduled Banks Statement of Position in India as on Friday, April 25, 2008.

  • Eyeing buyouts in US, Europe: Tulip IT  

    8th May, 2008 15:31

    Hardeep Singh Bedi, MD of Tulip IT Services that they are looking at acquiring the inorganic growth in the US and Europe. “We have identified some countries and we

  • Gokul Refoils' to put up 1500 tn/day extraction plant 

    8th May, 2008 15:28

    Gokul Refoils and Solvent opened for subscription today. Ram Lohia, CEO said the IPO will facilitate backward integration in the form of putting up 1,500 tonne/day

  • Hold Balrampur Chini Mills: PINC

    8th May, 2008 15:24

    PINC Research has downgraded its rating to hold on Balrampur Chini Mills. Balrampur Chini Mills Ltd.’s (BCML) net sales for Q2FY08 were down 22% YoY to Rs 3.1 bill

  • Virgin Atlantic entrusts IT to TCS until 2011

    8th May, 2008 15:11

    Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS), a leading IT services and business solutions firm, can confirm that it has renewed its managed service

  • Arvind Mills marches ahead

    8th May, 2008 14:58

    At 2:50 pm, Arvind Mills was quoting at Rs 55.20, up Rs 2.40, or 4.55%. It has touched an intraday high of Rs 55.30 and an intraday low of Rs 52.05. It was trading

  • Experts concerned about long-term impact of commodities ban 

    8th May, 2008 14:57

    The Indian futures commodity is facing a ban on futures commodity trading in four commodities: soya oil, rubber, potatoes and channa. Ramaseshan Ramalingam, MD and

  • Repro India has target of Rs 175: S Chabria 

    8th May, 2008 14:52

    Equity Analyst Sanjay Chabria is of the view that Repro India has target of Rs 175. It is an integrated printing service provider. The company provides printing so

  • EID Parry (India) an underperformer: Karvy

    8th May, 2008 14:49

    Karvy Stock Broking has maintained its underperformer rating on EID Parry (India) with target price of Rs 184 For Q4FY08, EID Parry (I) reported the revenue increa

  • Everonn Systems gushes forth

    8th May, 2008 14:38

    At 2:30 pm, Everonn Systems India was quoting at Rs 886.85, up Rs 37.90, or 4.46%. It has touched an intraday high of Rs 891.35 and an intraday low of Rs 842. It w

  • Quiet day for markets; culprits are pvt banks, tech stks 

    8th May, 2008 14:31

    It’s been a quiet day for the market and it retraced a bit, still not quite got to 5,000 levels on the Nifty but not very far away, 5,080 is around the median poin

  • Global Fin Mkt sees resistance for crude at $126/bbl 

    8th May, 2008 14:23

    Bharath Kumar, Director, Global Financial Market, said crude is heading towards USD 126 per barrel, which is a major resistance level.

  • Need to produce less sugar, more ethanol: Experts 

    8th May, 2008 14:22

    Keeping focus on ethanol right now SP Tulsian of sptulsian.com and M Manickam, MD of Sakthi Sugars, who suggests that we need to produce less sugar and produce mor

  • Book some profits in Suryajyoti Spg: T Harihar 

    8th May, 2008 14:19

    TS Harihar of Karvy Stock Broking is of the view that one can book some profits in Suryajyoti Spinning.

  • Steel prices not the major cause of inflation: Essar Grp

    8th May, 2008 14:17

    J Mehra of Essar Group said that the company's margins would suffer owing to the price cut. He agrees with the government on its concern for the rising inflation,

  • Buy Welspun Gujarat, tgt Rs 608: Emkay

    8th May, 2008 14:15

    Emkay research has maintained buy rating on Welspun Gujarat Stahl Rohren with target price of Rs 608. The scrip currently discounts its FY09E and FY10E EPS of Rs 2

  • Kotak Mahindra slips further

    8th May, 2008 14:13

    At 2:05 pm, Kotak Mahindra Bank was quoting at Rs 789, down Rs 47, or 5.62%. It has touched an intraday high of Rs 836 and an intraday low of Rs 783. It was tradin

  • Indiabulls Financial plunges 5.4%

    8th May, 2008 14:07

    At 2 pm, Indiabulls Financial Services was quoting at Rs 493.95, down Rs 28.3, or 5.42%. It has touched an intraday high of Rs 519 and an intraday low of Rs 488. I

  • Hold Suryajyoti Spinning Mills, says Mohindar 

    8th May, 2008 14:00

    Rahul Mohindar of Viratechindia is of the view that one can hold Suryajyoti Spinning Mills with a stoploss below Rs 48.

  • Uttam Galva slashes galvanized steel prices

    8th May, 2008 13:52

    Uttam Galva Steels Limited, the country's leading steel manufacturer-exporter, has announced that it has decided to reduce the prices of its galvanized steel produ

  • Any close above 41.70/$ to be bearish for Re: Experts 

    8th May, 2008 13:42

    Ajay Mahajan, Yes Bank said, “I think if the Rs 41.70-42/$ zone is violated in the next year or two, then one may see $-Re potentially making a bit further

  • Baltic Dry Index rallies 29% since April 

    8th May, 2008 13:40

    The Baltic Dry Index has rallied 29% in the last one month. It has rallied 80% to 10,105 versus the January-end low of 5,615. The index is now 9% off the November

  • Eureka Forbes forays into retail, with Aquasure

    8th May, 2008 13:18

    Eureka Forbes Limited, leaders in water purification for over 25 years and a company that enjoys the trust of over 15 million users with its brand Aquaguard, prese

  • IFGL Refractories total income increased by 17.26%

    8th May, 2008 13:08

    IFGL Refractories' consolidated Total Income increased by 17.26% to Rs.379.80 crores (Rs.323.89 crores) while consolidated Net Profit increased by 8.57% to Rs 28.4

  • Hold Tata Steel, says T Harihar 

    8th May, 2008 13:00

    TS Harihar of Karvy Stock Broking is of the view that one can hold Tata Steel for long term. This stock will give better prices compared to these levels. If the in

  • FXLabs partners with Indyarocks to develop gaming community

    8th May, 2008 12:54

    FXLabs Studios, the leading end-to-end game company in India today announced that the company has partnered with Indyarocks, a premier online and mobile social net

  • ICICI Bank slips further

    8th May, 2008 12:46

    At 12:39 pm, ICICI Bank was quoting at Rs 887.95, down Rs 30.9, or 3.36%. It has touched an intraday high of Rs 913 and an intraday low of Rs 883. It was trading w

  • Autoline Ind approves pref issue, stk slips 5%

    8th May, 2008 12:36

    At 12:29 pm, Autoline Industries was quoting at Rs 258, down Rs 14, or 5.15%. The company board has approved preferential issue of up to 12.5 lakh shares at Rs 235

  • Stone India to consider mergers/ acquisitions, stk down

    8th May, 2008 12:31

    At 12:24 pm, Stone India was quoting at Rs 93.45, down Rs 1.6, or 1.68%. The compang has board meetings to consider mergers / acquisitions, reports CNBC-TV18. It w

  • Juniper Networks expands Bangalore R&D centre

    8th May, 2008 12:21

    Juniper Networks, Inc announced it has doubled the size of its research and development centre in Bangalore. The centre, which has occupied a second building at th

  • M D Mallya takes over as Chairman & MD of BoB

    8th May, 2008 12:14

    Shri. M. D. Mallya has taken over as Chairman and Managing Director of Bank of Baroda on 07th May, 2008. Prior to joining the Bank, he was the Chairman & Managing

  • Get Visa Status ‘In a Jiffy’ on your Spice Mobile via SMS

    8th May, 2008 12:05

    Spice Telecom, the premier cellular service provider in Punjab offers a one of its kind ‘Spice Visa Status service’. This ‘useful & time saving service’ allows you

  • Buy Allahabad Bank, target of Rs 170: Emkay

    8th May, 2008 12:00

    Emkay Research has maintained its buy rating on Allahabad Bank with price target of Rs 170. Allahabad Bank reported a net profit of Rs 1.6 billion for Q4FY08, belo

  • FedEx Express announces Indranil Sen as MD Marketing

    8th May, 2008 11:57

    FedEx Express, a subsidiary of FedEx Corp. and the leading express transportation company announced the appointment of Indranil Sen as its Managing Director, Marke

  • ITC takes dip

    8th May, 2008 11:45

    At 11:38 am, ITC was quoting at Rs 217.50, down Rs 9.45, or 4.16%. It has touched an intraday high of Rs 227 and an intraday low of Rs 216.60. It was trading with

  • Buy India Glycols, target Rs 550: Emkay

    8th May, 2008 11:45

    Emaky reserarch has maintained buy rating on India Glycols with target price of Rs 445 and Rs 550. IGL is expected to report an EPS of Rs 69.40, Rs 89.09 & Rs 118.

  • Capital goods stocks may underperforms: S Verma 

    8th May, 2008 11:41

    Sanju Verma, ED & Head of Institutional Business, HDFC Securities is of the view that capital goods stocks are likely to underperform.

  • International money transfer now on mobile

    8th May, 2008 11:32

    IDEA Cellular Limited announced the launch of a pilot with TATA Communications, Etisalat and HSBC India, for a mobile phone based, secure and convenient money remi

  • Tech stocks look cheap: S Verma 

    8th May, 2008 11:29

    Sanju Verma, ED & Head of Institutional Business, HDFC Securities is of the opinion that technology stocks are looking cheap. They are trading at more than a 20% o

  • DCB continues to slide

    8th May, 2008 11:21

    At 11:15 am, Development Credit Bank, DCB was quoting at Rs 100.40, down Rs 5.9, or 5.55%. It has touched an intraday high of Rs 106.40 and an intraday low of Rs 9

  • Supply-cartel behind steel’s high RM costs: JJ Irani 

    8th May, 2008 11:14

    J J Irani, Director Of Tata Sons and Former-Chairman of Indian Steel Alliance feels that steel prices are going up due to unprecedented rise in input prices. A str

  • Buy Bharti Airtel with target of Rs 1150: S Verma 

    8th May, 2008 11:12

    Sanju Verma, ED & Head of Institutional Business, HDFC Securities is of the view that one can buy Bharti Airtel with a price target of Rs 1150.

  • Buy Grasim Industries, target of Rs 3182: HDFC Sec

    8th May, 2008 11:10

    HDFC securities has maintained its buy rating on Grasim Industries with a revised price target of Rs 3182. Grasim Industries Ltd’s Q4FY08 result was below research

  • Buy Tata Steel for long term: S Verma 

    8th May, 2008 10:59

    Sanju Verma, ED & Head of Institutional Business, HDFC Securities is of the view that one can buy Tata Steel with a long term perspective.

  • Exit Praj Industries, says Sukhani 

    8th May, 2008 10:52

    Technical Analyst, Sudarshan Sukhani is of the view that one can exit Praj Industries and wait for a correction or wait for a significant breakout to occur.

  • Exit sugar stocks: Sukhani 

    8th May, 2008 10:39

    Technical Analyst, Sudarshan Sukhani is of the view that one can book profits and exit sugar stocks.

  • Mkts may test but not breach March lows: Experts 

    8th May, 2008 10:38

    Mihir Vora of HSBC Asset Management feels markets would be in a consolidation phase for the next few weeks. The markets may not breach the previous lows he affirms

  • Pritish Nandy Comm up on buying interest

    8th May, 2008 10:30

    At 10:23 am, Pritish Nandy Communications was quoting at Rs 71, up Rs 6.80, or 10.59%. It has touched an intraday high of Rs 74.50 and an intraday low of Rs 69. It

  • Tata Inv Corp to consider raising long-term funds, stk up4%

    8th May, 2008 10:21

    At 10:14 am, Tata Investment Corporation was quoting at Rs 550, up Rs 21.45, or 4.06%. The company has board meet on May 16 to mull raising long-term funds, report

  • SAIL melts down 3%

    8th May, 2008 10:09

    At 10:01 am, Steel Authority of India was quoting at Rs 167.75, down Rs 5.25, or 3.03%. It has touched an intraday high of Rs 171.90 and an intraday low of Rs 165.

  • Cognizant - IT mood Dampener

    8th May, 2008 10:02

    IT stocks have been the flavour of the day for the past two days...with each low rupee has been making. While things may be going right on the rupee front, there m

  • Govt to divest residual 26.12% stake in Tata Comm, stk up

    8th May, 2008 10:00

    Tata Communications is the top gainer on the Nifty. At 09:58 am, the share was quoting at Rs 505, up Rs 16.40, or 3.36% on the NSE. The buying interest in the stoc

  • Nifty may test 5050-4850 levels

    8th May, 2008 09:53

    According to Karvy Stock Broking Technical Analysis report, Nifty has critical support at the 5100, breach below the same will see the indices testing the 5050-485

  • Nifty has support at 5080-5060: Angel

    8th May, 2008 09:51

    According to Angel Broking Technical Analysis report, on the downside, if nifty trades below 5100 levels which seem unlikely, then 5080 – 5060 may act as support l

  • Mid Day Q4 net profit at Rs 23 lakh

    8th May, 2008 09:44

    Mid Day Multimedia has announced its results for the quarter ended March 2008 (Q4). The company resgistered a net profit of Rs 23 lakh versus a net profit of Rs 99

  • Nifty may correct upto 5105: Angel

    8th May, 2008 09:42

    According to Angel Broking Market Outlook report, if Nifty trades below 5132 for the first half-an-hour of trade then it may correct upto 5105.

  • Mkts are undervalued; Nifty may test 5,413: HDFC Sec 

    8th May, 2008 09:37

    Sanju Verma of HDFC Securities said that the market seems undervalued to her. She believes the market can test 5413 level and if the market sustains at the level

  • If Nifty breaks 5K, plan short positions: Sudarshan Sukhani 

    8th May, 2008 09:33

    Technical Analyst Sudarshan Sukhani said markets are indecisive at this point. He suggests profits should be taken by short term traders. He sees 5,075 as a benchm

  • Nifty may fall to 5000

    8th May, 2008 09:31

    According to Khandwala Securities Market Preview report, Sensex has a support at 17,229 and Nifty at 5,101-5,090. If we crack these levels then we may see the mark

  • Support for Nifty at 5043

    8th May, 2008 09:24

    The support for the Nifty is at 5043 and resistance to the up move at 5200.

  • Avoid bargain hunting for now

    8th May, 2008 09:20

    The outlook for the markets today is guarded as the bulls are showing no signs of enhancing commitments. Ignore bargain hunting for now and preserve capital.

  • Aishwarya Telecom witnesses 70 bulk deals

    8th May, 2008 09:15

    Aishwarya Telecom, manufacturer of Test and Measurement Instruments, surged by 160% to close Rs 90.85 on the BSE yesterday as against issue price of Rs 35. The sto

  • FIIs net sold Rs 157 crore in Nifty futures 

    8th May, 2008 09:14

    FIIs net sold Rs 157 crore in Nifty futures and Rs 171 crore in Stock futures. Nifty futures add 1.6 lakh shares in Open Interest. Nifty Open Int PCR at 1.39 versu

  • Fund Action witnessed in stocks on 7th May

    8th May, 2008 09:13

    On May 7, fund action was witnessed in Aztecsoft, Idea Cellular, Jyoti structures and Aishwarya telecom.

  • Stocks in news: PVR, ITC, L&T, VSNL, Tata Steel

    8th May, 2008 09:11

    Stocks in news: Autoline Industries board approves preferential issue of up to 12.5 lakh shares at Rs 235. Idea slashed STD charges to Rs 1.30/min effective 9th Ma

  • Rupee opens at Rs 41.56 per dollar

    8th May, 2008 09:09

    The Indian Rupee opened at Rs 41.56 per dollar versus Rs 41.34 yesterday.

  • Equity calls: Choksey, Mahajan 

    8th May, 2008 09:00

    Global markets are seeing the impact of high crude price. I expect to see more profitbooking & consolidation going forward, says Choksey.

  • Ducati set to scorch Indian roads!

    8th May, 2008 08:59

    From the fastest superbikes, to mean Ducati monsters, you can ride them in India if you're independently wealthy or have a generous network of family and frineds!

  • Indian ADRs: Satyam, Wipro, Infosys down nearly 6%

    8th May, 2008 08:48

    Indian ADRs declined sharply. Satyam Computer was down 6.3%, Wipro slipped 5.85%, Infosys fell 5.6%, HDFC Bank down 5.8%, MTNL down 5.7%, Sterlite down 4.3% and Ta

  • Arvind Brands inks pact with Hartmarx Corpn

    8th May, 2008 08:42

    Arvind Brands, a division of Arvind Mills Ltd, has signed an exclusive licence agreement with The Hartmarx Corporation. As a part of the agreement, Arvind Brands w

  • SABMiller looks to introduce premium beer brands in India

    8th May, 2008 08:39

    With the Indian liquor market moving towards premium brands, the world’s third largest beer maker, SABMiller is likely to bring to India, the iconic Dutch premium

  • Fiat sets up intl purchasing office

    8th May, 2008 08:35

    Driven by cost advantage that countries such as India and China offer, the Italy-based Fiat Group announced setting up of an international purchasing office in New

  • Banks see more growth in global operations

    8th May, 2008 08:31

    Despite the uncertainty in the global financial markets, Indian banks had a good run in their international operations, in the last fiscal, thanks to the increased

  • Jobless claims for May 3 week down 18k

    8th May, 2008 22:34

    US jobless claims for week-ended May 3 is down 18,000 to 3.65 lakh, reports CNBC-TV18. The four-week moving average is up 2,500 to 3.67 lakh.

  • No clear mkt direction seen in near-term: ICICI Pru AMC 

    8th May, 2008 21:07

    Nilesh Shah, Deputy MD, ICICI Prudential AMC, said the market is consolidating after the recent rise. Tarini Vaidya, Country Treasurer, Centurion Bank, said weakne

  • NCDEX-Trade details for May 07, 2008

    8th May, 2008 19:21

    NCDEX, 485 members (2,308 users) participated in trading on May 07, 2008 up to 5:00 pm and volumes were Rs 1,829 crore (one-way). There were more than 49,856 tra

  • Re fall indicates global uncertainties: RBI

    8th May, 2008 19:00

    Governor YV Reddy said the fall in the rupee indicates global uncertainties, reports CNBC-TV18 quoting Newswire 18. Reddy stated that trade and current account gap

  • BSE resolved 888 investor’s complaints

    8th May, 2008 18:50

    Bombay Stock Exchange Ltd resolved 888 investor’s complaints against companies during the month of April, 2008

  • Infinite Computer Solutions files DRHP with SEBI

    8th May, 2008 18:41

    Infinite Computer Solutions (I) Ltd, a global IT solutions and services provider, has filed its Draft Red Herring Prospectus with the Securities & Exchange Board o

  • IFCI has support at Rs 46-48: E Mathew 

    8th May, 2008 18:33

    Technical Analyst, E Mathew is of the view that IFCI has critical support around Rs 46-48. If it breaks this support level, it could drift back to Rs 42-44 level.

  • TAIB Bank selects Reveleus Basel II, Reveleus ALM

    8th May, 2008 18:15

    i-flex® solutions, a leading provider of technology solutions to the global financial services industry announced today that TAIB Bank, a leading bank in the Middl

  • KMUK launches its 1st Multi Strategy Equity fund

    8th May, 2008 18:07

    Kotak Mahindra (UK) Limited, a 100 % subsidiary of India’s Kotak Mahindra Bank Limited announced the launch of the Kotak India Dynamic Fund whose objective is to g

  • Mkt to consolidate around 16,600-17,700 next wk: KR Choksey 

    8th May, 2008 17:55

    Deven Choksey of KR Choksey Securities said fund managers have postponed buying due to nervousness on the crude oil prices and subsequent weakening of the rupee. "

  • US-64 bonanza for MFs 

    8th May, 2008 17:41

    Fund houses in India are working overtime, trying to bag Rs 8,000 crores in new accounts. That is because India's oldest mutual fund, US-64, is gearing up for rede

  • Microsoft, DAISY make easy for people with print disability

    8th May, 2008 17:28

    Microsoft, DAISY make reading easier for people with print disabilities

  • MakeMyTrip extends its lowest-tariff to hotels category

    8th May, 2008 17:18

    MakeMyTrip extends its lowest-tariff guarantee to the hotels category. Offers double the tariff-difference for customers finding a cheaper deal elsewhere.

  • NewsX presents in-depth perspective of Karnataka elections

    8th May, 2008 17:11

    NewsX will present an in-depth perspective on the Karnataka Elections. Starting Thursday, 1st May 2008, NewsX will telecast a series of news bulletins and panel di

  • Amar Chitra Katha offers summer holidays mega value pack

    8th May, 2008 17:01

    Amar Chitra Katha offers summer holidays mega value pack. The holiday value pack includes books from the collection of epics, mythology, Indian Classics, fables, f

  • Hind Motors FY08 net profit at Rs 30.8 cr

    8th May, 2008 16:53

    Hindustan Motors has announced its FY08 numbers. It has reported net profit of Rs 30.8 crore and net sales of Rs 662 crore for FY08.

  • MTNL & Contakt Tech Sols launches MTNL Express alert

    8th May, 2008 16:45

    Mahanagar Telephone Nigam Limited & Contakt Tech Solutions announce the launch of MTNL EXPRESS ALERTS (USSD SERVICE) for Dolphin & Trump subscribers

  • Buy Maharashtra Seamless, target of Rs 440: PINC

    8th May, 2008 16:41

    PINC Research has recommended a buy rating on Maharashtra Seamless with a price target of Rs 440. Maharashtra Seamless Ltd. (MSL) reported a 5% YoY growth in reven

  • Diversified funds attractive to investors: Mata Sec 

    8th May, 2008 16:38

    Sameer Kamdar, National Head-Mutual Funds at Mata Securities said there are opportunities for investors in FMP, ignored by retail investors. The 1-year FMP will gi

  • Inflation to be down by 100 bps in 6-8 weeks: Govt 

    8th May, 2008 16:35

    Ashwini Kumar, the Minister of State for Industry said that the government is optimistic that in the next six-eight weeks, inflation will be down by 100 bps. He sa

  • Buy Bharti, tgt Rs 1125: Angel Broking

    8th May, 2008 16:19

    Angel Broking has maintained buy rating on Bahrti with target price of Rs 1125. As for financial data and metrics, Bharti and MTN are very similar in terms of size

  • RBI Reference Rate for US $ & Euro

    8th May, 2008 16:17

    RBI Reference Rate for US $ & Euro. The Reserve Bank of India’s Reference Rate for the US dollar is Rs.41.20 and the Reference Rate for Euro is Rs.63.76 on May

  • Underwriting auctions for 7.59% Govt Stock 2016

    8th May, 2008 16:02

    Underwriting auctions for “7.59 per cent Government Stock 2016” and for "7.95 per cent Government Stock 2032”. The underwriting auctions for both the securities wi

  • Crude may cross $150/bbl mark: StanChart Bank 

    8th May, 2008 15:53

    Avinash Raheja of Standard Chartered Bank says there is a good potential risk to nudge crude beyond USD 150/bbl mark, if there are any supply disruptions or collap

  • LG launches 3 new handsets- KF510, KP320 & KP110

    8th May, 2008 15:52

    LG Electronics India Pvt. Ltd, a worldwide technology and design leader in mobile communications, announced the launch of three new handsets KF510, KP320 and KP110

  • Jubilant acquires Speciality Molecules Pvt Ltd

    8th May, 2008 15:43

    Jubilant acquires Speciality Molecules Pvt. Ltd., India. The purchase consideration to acquire 100% stake is Rs 199.5 million on a debt free, cash free basis.

  • Ashok Leyland turnover at Rs 77bn, up 7.8%

    8th May, 2008 15:31

    Ashok Leyland Turnover at Rs 77 billion, up 7.8%, Net Profit at Rs 4.7 billion, up 6.4%. With other income of Rs 739.99 million (Rs 708.03 million), total income i

  • Invstmnt by NRIs/PIOs under PIS: Kakatiya Cement Sugar

    8th May, 2008 15:29

    Investment by NRIs/PIOs under PIS: Kakatiya Cement Sugar & Industries Limited. Kakatiya Cement Sugar & Industries Limited, has reached the stipulated limit of 10 p

  • Buy Puravankara, tgt Rs 422: PINC

    8th May, 2008 15:26

    PINC research has maintained buy rating on Puravankara with target price of Rs 422. At the CMP of Rs300, PPL is trading at a 47% discount to NAV of Rs562.

  • Buy ITC on dips: Choksey

    8th May, 2008 15:21

    Deven Choksey of KR Choksey Securities is of the view that if one wants to keep ITC in portfolio for 18-24 months from now then it would be a good opportunity if i

  • Buy HDFC Bank, target of Rs 1788: PINC

    8th May, 2008 15:01

    PINC Research has maintained its buy rating on HDFC Bank with a price target of Rs 1788. HDFC Bank Ltd.’s results were in line with research firm's expectations as

  • Canara HSBC OBC Life Insurance gets insurance license

    8th May, 2008 14:58

    Canara Bank, HSBC Insurance (Asia-Pacific) Holdings Limited and Oriental Bank of Commerce have been granted a license by the Regulator (Insurance Regulatory and De

  • TTK Prestige has target of Rs 225: S Chabria 

    8th May, 2008 14:57

    Equity Analyst Sanjay Chabria is of the view that TTK Prestige has target of Rs 225. is India’s leading kitchenware, kitchen appliance company with products of ent

  • Idea slashes STD & roaming charges

    8th May, 2008 14:50

    Idea Cellular Limited, has slashed STD charges to Rs. 1.30 per min, effective 9th May. The new tariff benefit can be availed by all Idea subscribers.

  • BT & Siemens to deliver one-stop converged comm soln

    8th May, 2008 14:40

    BT, one of the world's leading providers of networked IT services, and Siemens Enterprise Communications, one of the world’s leading suppliers of Open Communicatio

  • Chambal Fertilisers continues to fall

    8th May, 2008 14:32

    At 2:25 pm, Chambal Fertilisers and Chemicals was quoting at Rs 66.75, down Rs 3.75, or 5.32%. It has touched an intraday high of Rs 70 and an intraday low of Rs 6

  • Buy Sintex India, target of Rs 860: Emkay

    8th May, 2008 14:26

    Emkay Research has maintained its buy rating on Sintex India with a price target of Rs 860. Sintex Industries have declared their Q4 FY08 results which were in lin

  • Aban Offshore flares up

    8th May, 2008 14:23

    At 2:13 pm, Aban Offshore was quoting at Rs 3,772, up Rs 143.35, or 3.95%. It has touched an intraday high of Rs 3,794.80 and an intraday low of Rs 3,555. Supreme

  • Can breakeven in FY09 even at current crude costs: SpiceJet 

    8th May, 2008 14:19

    Spice Jet estimates that it is likely to break-even this fiscal, even at the current crude prices, reports CNBC-TV18. The company says that it has a cost-cutting p

  • Mkt to trade in 16,500-18,000 range: Birla Sun Life 

    8th May, 2008 14:18

    A Balasubramanian, CIO, Birla Sun Life said they have to constantly change their portfolio considering factors like rupee depreciation. He told CNBC-TV18 that they

  • Buy Elder Pharmaceuticals, target of Rs 535: Emkay

    8th May, 2008 14:16

    Emkay Research has maintained its buy rating on Elder Pharmaceuticals with target price of Rs 535. The company reported decent performance during the fourth quarte

  • Infosys has target of Rs 2400-2500: T Harihar 

    8th May, 2008 14:14

    TS Harihar of Karvy Stock Broking is of the view that Infosys has target of Rs 2400-2500.

  • Infosys has support at Rs 1700: Mohindar 

    8th May, 2008 14:10

    Rahul Mohindar of Viratechindia is of the view that Infosys has support at Rs 1700.

  • Crude trading at record high USD 123.93/bbl 

    8th May, 2008 14:01

    The inventory data that came out of yesterday was bearish but even despite that we have seen a rally come back into crude prices; it did go down to USD 120.5

  • Shiv Vani Oil & Gas forges ahead

    8th May, 2008 14:00

    At 1:51 pm, Shiv Vani Oil & Gas Exploration Services was quoting at Rs 652.90, up Rs 35.10, or 5.68%. It has touched an intraday high of Rs 665 and an intraday low

  • Ashok Leyland Q4 net profit up at Rs 180.5 cr

    8th May, 2008 13:43

    Ashok Leyland has announced its fourth quarter results. The company's net profit was up at Rs 180.5 crore versus Rs 171 crore.

  • House of Zodiac launches Z3

    8th May, 2008 13:40

    Zodiac Clothing Co. Ltd*. already has two iconic brands in it’s stable, Zodiac, for the classic yet contemporary male and ZOD! for the trendy, fashionable, social

  • Schindler partners with Patni for elevator technology

    8th May, 2008 13:30

    Patni Computer Systems, leading global IT services provider announced that it has partnered with Schindler, a leading global mobility company, for the development

  • Tata Steel may test Rs 900: Mohindar 

    8th May, 2008 13:13

    Rahul Mohindar of Viratechindia is of the view that Tata Steel may test Rs 900.

  • Cement cos, govt to find ways to curb prices this wk

    8th May, 2008 13:07

    The Commerce Ministry said cement companies will meet the government in 2-3 days on ways to curb price, reports CNBC-TV18. It also stated that cement prices have s

  • Buy Tanla Solutions, target of Rs 450: Emkay

    8th May, 2008 12:59

    Emkay Research has maintained its buy rating on Tanla Solutions with a target price of Rs 450. Tanla Solutions Ltd. (TSL) ended the fourth quarter with 20.4% QoQ i

  • Margins may see a hit this yr: Shree Cements  

    8th May, 2008 12:47

    HM Bangur, MD, Shree Cements said that in the current year, the margins are going to come down. “New production capacities, new production lines that we were in th

  • ColorPlus in partnership with XLA™

    8th May, 2008 12:45

    ColorPlus, India’s leading casual wear brand launched the ‘Xnovation’ range of cotton clothing for men in partnership with XLA™. The Xnovation range has reinvented

  • Buy Indoco Remedies, target of Rs 460: Angel

    8th May, 2008 12:32

    Angel Broking has maintained its buy rating on Indoco Remedies with an 18-month target price of Rs 460. For 3QFY2008, the company posted net sales of Rs 87 crore (

  • SRS forays into Fashion Wear retailing

    8th May, 2008 12:30

    SRS Group, India's leading real estate developer with business interests in real estate and township development, multiplex cinemas, retail, hospitality and aviati

  • Larsen and Toubro loses further ground

    8th May, 2008 12:19

    At 12:12 pm, Larsen and Toubro, L&T was quoting at Rs 2,911.70, down Rs 74.8, or 2.5%. It has touched an intraday high of Rs 2,963 and an intraday low of Rs 2,907.

  • Tech Mahindra expands client base; stk down

    8th May, 2008 12:11

    At 12:01 pm, Tech Mahindra was quoting at Rs 938, down Rs 14.2, or 1.49%. It has touched an intraday high of Rs 960 and an intraday low of Rs 932. The company has

  • Mukadam positive on real estate sector 

    8th May, 2008 12:04

    Shahina Mukadam, IDBI Capital Market is positive on real estate sector for the longer-term.

  • Brokers bullish on Pantloon Retail, India Glycols

    8th May, 2008 11:57

    Brokerage houses are bullish on Pantloon Retail, India Glycols, Grasim and Todays Writing.

  • Binani Ind bounces back

    8th May, 2008 11:54

    At 11:48 am, Binani Industries was quoting at Rs 141, up Rs 11.55, or 8.92%. It has touched an intraday high of Rs 146 and an intraday low of Rs 125. It was tradin

  • UBI's net profit surged to 64.14% YoY at Rs 1387cr

    8th May, 2008 11:45

    Union Bank of India's Net profit surged to record growth of 64.14% YoY to Rs 1387 crs in FY 2008. Operating profit grew by 28.94% YoY to Rs 2580 crs in FY 2008. On

  • Tata Comm leads gainer on Nifty

    8th May, 2008 11:41

    Tata Communications is top gainer on the Nifty. At 11:37 am, the share was quoting at Rs 505.25, up Rs 16.65, or 3.41%. It has touched an intraday high of Rs 509.6

  • Buy Todays Writing, target of Rs 201: IL&FS Investsmart

    8th May, 2008 11:33

    IL&FS Investsmart has maintained its buy rating on Todays Writing with a target price of Rs 201. Todays Writing Products Limited’s (TWPL’s) Q4FY08 results were in

  • Shree Cements announces result, stock down

    8th May, 2008 11:30

    At 11:22 am, Shree Cements was quoting at Rs 940, down Rs 21.25, or 2.21%. It has touched an intraday high of Rs 980 and an intraday low of Rs 920. It has declared

  • ArcelorMittal announce completion of sale of Sparrows Point

    8th May, 2008 11:27

    ArcelorMittal announced that the Court appointed trustee has completed the previously announced sale of ArcelorMittal’s Sparrows Point steel mill to OAO Severstal

  • TCS among major losers

    8th May, 2008 11:16

    Tata Consultancy Services, TCS is among major losers on the Sensex. At 11:08 am, the share was quoting at Rs 925, down Rs 41.2, or 4.26%. It has touched an intrada

  • Equities: Not anywhere to go

    8th May, 2008 11:13

    The Sensex at fair valuations doesn’t seem to be running away anywhere. With signs of nervousness around and US in an election year following which a full blown re

  • No question of 26% residual stake sale in Tata Comm: Govt 

    8th May, 2008 11:12

    Subodh Bhargava, Chairman of Tata Communications said there is a possibility of Government considering a residual stake sale today. But the Telecom Ministry has re

  • IT stocks tumble despite Rupee depreciation

    8th May, 2008 11:07

    IT and Tech stocks yesterday lost ground in U.S markets. IT major Infosys ADR was down about 5.59% and Satyam ADR was down 6.3%. IT major Infosys was down 4.46%, f

  • Surging oil prices affecting growth sustenance: JP Morgan 

    8th May, 2008 10:54

    David G Fernandez of JP Morgan feels it will be difficult for most economies to sustain growth with oil prices rocketing. The emerging markets are more vulnerable

  • Satyam top loser on the Sensex

    8th May, 2008 10:43

    Satyam Computer Services is the top loser on the Sensex. At 10:36 am, the share was quoting at Rs 466, down Rs 23.3, or 4.76%. It was trading with volumes of 337,6

  • Buy Shree Renuka Sugars, target of Rs 180: Hem

    8th May, 2008 10:38

    Hem Securities has recommended a buy rating on Shree Renuka Sugars with a price target of Rs 180. The company has posted excellent results for the quarter ended Ma

  • Buy Cairn India on dips: Sukhani 

    8th May, 2008 10:34

    Technical Analyst, Sudarshan Sukhani is of the view that one can buy Cairn India on dips and those who have bought should hold on to it. HOEC is now reaching its e

  • Tata Steel can outperform on Corus exposure 

    8th May, 2008 10:23

    The steel sector remaining a rangebound sector right now, in that sector I would imagine that if one stock has to outperform it would still be Tata Steel on back o

  • Indian GDRs: Satyam plunges 6.3%, Infosys slips 5.5%

    8th May, 2008 10:13

    Indian GDRs: Satyam, Infosys, Tata Comm, Sterlite, Ranbaxy, Tata Motors, L&T, Dr Reddy's and ICICI Bank plunged.

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

    8th May, 2008 10:04

    Gokul Refoils and Solvent's issue has opened for subscription today with its initial public offering (IPO) of 7,158,392 equity shares of face value Rs 10 each. Ang

  • Infosys top loser on the Nifty

    8th May, 2008 10:00

    Infosys Technologies is the top loser on the Nifty. At 10 am, the share was quoting at Rs 1,792.10, down Rs 52.05, or 2.82%.

  • Balrampur Chini an underperformer:Karvy

    8th May, 2008 10:00

    Karvy has maintained underperform rating on Balrampur Chini Mill with target price of Rs 68. Considering lower profitability in sugar and uncertainty on cane cost,

  • Tata Tea to relaunch Himalyan mineral water

    8th May, 2008 09:52

    Tata Tea acquired 32 percent in Mount Everest, and added the "Himalayan" natural mineral water brand to its beverage portfolio nearly one year ago. Now, the compan

  • Shipping cos numbers would be strong going ahead 

    8th May, 2008 09:50

    The kind of number one saw from GE shipping in the current quarter and Mercator Line Singapore, I would imagine that as long as this whole commodity upmove continu

  • Wall St slips on spike in oil price 

    8th May, 2008 09:43

    The continuing ‘super-spike’ in oil prices is fueling inflation worries prompting a late day sell-off on Wednesday. The Dow tumbled 206 points, the S&P 500 dropped

  • Nifty has support at 5073-5046

    8th May, 2008 09:38

    According to Networth Stock Broking Market Review report, for Nifty support lies at 5,104-5,073-5,046.

  • Mkts close in deep red: Banks, IT, FMCG culprits

    8th May, 2008 09:37

    It was a lacklustre day for the markets, volumes were low. Technology, private banks, FMCG and capital goods stocks were biggest culprits, dragged the Sensex and N

  • Shree Cements' Q4 PAT at Rs 41 cr

    8th May, 2008 09:32

    Shree Cements has declared its results for the quarter ended March 2008 (Q4). The company reported PAT at Rs 41 crore versus Rs 24.50 crore on YoY basis.

  • IDBI renamed IDBI Bank

    8th May, 2008 09:25

    IDBI has renamed as IDBI Bank from May 7.

  • F&O cues: Futures Open Int up by Rs 468 cr

    8th May, 2008 09:21

    F&O cues: Nifty futures add 1.6 lakh shares in Open Int . Futures Open Int up by Rs 468 crore, Options Open Int up by Rs 551 crore.

  • Worst of credit crunch may have passed: Henry Paulson

    8th May, 2008 09:16

    US Treasury Secretary Henry Paulson has said that the worst of the credit crunch may have passed. Speaking to news agencies, he said the financial market turmoil t

  • Market cues: FIIs net sell $180.7 mn

    8th May, 2008 09:15

    Market cues: FIIs net sell $180.7 mn. MFs net sell Rs 26.5 cr in equity on May 6.

  • Markets may face more selling pressure today

    8th May, 2008 09:13

    European markets rallied last night, while the US indices fell quite heavily. Most Asian markets are also down this morning, and the global short-term trend has tu

  • No signs of major reversal or massive sell-off  

    8th May, 2008 09:12

    The breadth has been a bit disappointing; the last couple of sessions as well. So people might be getting worried. But so far, no signs of any major reversal or a

  • Gokul Refoils and Solvent IPO opens for subscription

    8th May, 2008 09:11

    Gokul Refoils and Solvent will open for subscription today with its initial public offering (IPO) of 71,58,392 equity shares of face value Rs 10 each. The issue wi

  • Crude at $123.61/bbl

    8th May, 2008 09:01

    Crude prices leapt to a new record above USD 123 a barrel. Prices surged after a report showed that US worker productivity has accelerated, signaling stronger econ

  • Sell MCX June Gold at Rs 11650

    8th May, 2008 08:59

    For gold, one could sell MCX June at Rs 11,650 per 10 grams with a target of Rs 11,570 per 10 grams, says Vakil.

  • Money calls: Prabhu, Pawar

    8th May, 2008 08:48

    I see moderate liquidity in the bond market. Inflation is likely to show some softening bias tomorrow, says Prabhu.

  • Videocon Group plans multi-product park, power plant

    8th May, 2008 08:44

    A consortium lead by Videocon Industries Ltd has come up with a proposal to set up a multi-product industrial park and a 1,320-MW thermal power plant in the West G

  • Time not right for bargain hunting: Schroders Pvt Clients

    8th May, 2008 08:41

    Speaking to CNBC-TV18 Leslie Phang, Head of Investments, Schroders Private Clients said, “We hold rather a pessimistic view with regards to Asian markets, we belie

  • Idea ties up with Tata Comm, Etisalat, HSBC

    8th May, 2008 08:37

    Idea Cellular Ltd has joined hands with Tata Communications, Etisalat and HSBC India for a pilot project that will enable UAE-based NRIs to transfer money using mo

  • Asian mkts end lower; Hang Seng down 160 pts

    8th May, 2008 08:32

    Asian markets ended lower. Hong Kong's Hang Seng was down 0.63% or 160.42 points at 25,449.79. Japan's Nikkei slid 1.13% or 159.22 points at 13,943.26. Taiwan's Ta

  • US mkts dip on rising crude prices; Dow down 206.5 pts

    8th May, 2008 08:17

    US markets ended sharply down led by financials and spiraling crude prices. Financials stocks took a beating and among the top decliners were AIG, Citigroup and JP

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