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Moneycontrol News Archive : 13 November, 2008

  • Standard Chartered to acquire Cazenove Asia Ltd

    13th November, 2008 16:43

    Standard Chartered PLC announces that its subsidiary, Standard Chartered Bank (Hong Kong) Limited, has entered into an agreement to acquire 100 per cent of Cazeno

  • Plug & Play IDEA 'NetSetter' to offer Internet connectivity

    13th November, 2008 16:24

    IDEA Cellular launched its EDGE enabled USB Data Card – ‘NetSetter’ for prepaid and postpaid subscribers in Mumbai. The new ‘Plug & Play’ NetSetter provides anytim

  • Wanbury launches Cdense

    13th November, 2008 16:05

    Wanbury launches Cdense – for osteoporosis & gynaecology related calcium deficiency. The available calcium brands mainly use calcium carbonate as base. Global stud

  • 3i Infotech launches eMudhra

    13th November, 2008 15:51

    3i Infotech revolutionises online transactions with eMudhra. With eMudhra, 3i Infotech will transform the way various transactions are conducted in India and empow

  • SAP Education Prog provides learning with cost savings

    13th November, 2008 15:21

    SAP announced wider availability of its remote learning offerings in the Asia Pacific region, providing savings of up to 70 percent compared to SAP Instructor-Led

  • Hold Gujarat State Fert, target of Rs 107: Emkay

    13th November, 2008 15:11

    Emkay Global Financial Services has maintained its buy rating on Gujarat State Fertilizers Company (GSFC) with a target of Rs 107. Profit growth was boosted by 2.7

  • Bombardier inaugurates railway vehicle mfg site in Gujarat

    13th November, 2008 15:01

    Bombardier Transportation inaugurated today a new, state-of-the-art railway vehicle manufacturing facility in Savli, Vadodara – Gujarat, the first in India to be w

  • Samsung receives 46 CES Innovations Awards

    13th November, 2008 14:47

    Samsung Electronics America, Inc. receives 46 CES Innovations Awards for 2009. By winning coveted CES honors across a broad range of technologies and product categ

  • Motilal Oswal neutral on Idea Cellular

    13th November, 2008 14:28

    Motilal Oswal has downgraded its rating on Idea Cellular to neutral. Idea’s 2QFY09 PAT declined 45% QoQ and 35% YoY to Rs 1.44 billion.

  • Reliance MFs buys IT, bank, pharma stocks

    13th November, 2008 14:16

    Reliance Mutual Fund has added investment in information technology, banking & financial services and pharmaceuticals. However, decreased its holding from engineer

  • Bird Grp powers corporate travel managers with tech soln

    13th November, 2008 14:11

    Bird Group powers corporate travel managers with technology solutions to strike a better balance between service quality and cost reduction

  • India's rich likely to gain back eroded wealth: Forbes 

    13th November, 2008 13:56

    India's 40 richest have taken a 60% hit in their net worth. According to the latest Forbes Asia India Rich List, their total wealth is now USD 139 billion, down fr

  • Acer's customer support service available 7 days a week

    13th November, 2008 13:55

    Acer India, one of the world's top three branded PC brands has set a new industry benchmark by being the first to make their customer support service available 7 d

  • Inflation at 8.98%: Experts see rate cuts 

    13th November, 2008 13:40

    Experts from Axis Bank, Standard Chartered Bank, Kotak Mahindra Bank, Yes Bank and ICICI Securities believe that since the inflation numbers have fallen, it is exp

  • Buy United Spirits: Motilal Oswal

    13th November, 2008 13:39

    Motilal Oswal has recommended a buy rating on United Spirits. Volumes are expected to grow at 12% CAGR in the long term and outlook with respect to regulatory chan

  • Airtel introduces Voice SMS for customers

    13th November, 2008 13:27

    Airtel, India’s leading mobile service today announced the introduction of Voice SMS for customers, a yet another innovative value added service for customers in K

  • SKP Securities bullish on IMP Powers

    13th November, 2008 13:15

    SKP Securities continue to be bullish about IMP Powers future growth prospects. IMP Powers net sales has risen to Rs 514 million for the quarter ended September 20

  • Buy GSPL, target of Rs 36: KRChoksey

    13th November, 2008 13:04

    KRChoksey Research has maintained its buy rating on Gujarat State Petronet (GSPL) with a target price of Rs 36. GSPL reported net sales of Rs 118.5 crore, up 24.4%

  • SAP-CA announce SAP Extended Diagnostics Application

    13th November, 2008 12:52

    SAP and CA Announce the Availability of SAP® Extended Diagnostics Application by CA Wily

  • Buy Sejal Architectural, target of Rs 105: KRChoksey

    13th November, 2008 12:48

    KRChoksey Research has maintained its buy rating on Sejal Architectural Glass with a revised target price of Rs 105. The company has surged from a loss making comp

  • Buy Jagran Prakashan, target of Rs 70: KRChoksey

    13th November, 2008 12:35

    KRChoksey Research has recommended a buy rating on Jagran Prakashan with a target price of Rs 70. On Y-o-Y basis, advertising revenue had shown a growth of 23.2% t

  • Buy Sun TV, target of Rs 220: KRChoksey

    13th November, 2008 12:26

    KRChoksey Research has recommended a buy rating on Sun TV Network with a target price of Rs 220. On Y-o-Y basis, advertising revenue (including radio business) and

  • Virtusa Corpn opens state-of-the-art facility in Chennai

    13th November, 2008 12:22

    Virtusa Corporation, a global information technology services company that provides IT consulting, technology implementation and application outsourcing services t

  • IIP analysis: Experts see further downside to growth ahead 

    13th November, 2008 12:15

    The September IIP, or index industrial production, has come in at 4.8% up from 1.3% during August and 6.98% year-on-year. Shubhada Rao, Chief Economist at Yes Bank

  • BSNL plans to launch 3G services in TN

    13th November, 2008 12:12

    BSNL is planning to launch 3G services in Tamil Nadu by January and will partner Univercell for the roll-out of the services, said Mr M.D. Velusamy, Chief General

  • No buyback for now: Satyam

    13th November, 2008 12:07

    Putting to rest speculation about the likely buy-back offering, Satyam Computer Services has made it clear that the company is not contemplating that option for no

  • Fitch downgrades KBH Loan Trust: Outlook -ve

    13th November, 2008 12:04

    Fitch Ratings has today downgraded the National Long-term rating of Pass Through Certificates (PTCs) issued by KBH Loan Trust and assigned a negative Outlook as fo

  • Buy Jyoti Structures: SKP Securities

    13th November, 2008 12:00

    SKP Research has maintained its buy rating on Jyoti Structures. At the current price level of Rs 59 the stock is trading at 7x, 5x and 3x of FY08, FY09E and FY10E

  • Asian markets trading weak; Hang Seng down 6.6%

    13th November, 2008 11:49

    Asian markets were trading weak. Hong Kong's Hang Seng fell 6.63% or 923.81 points at 13,015.28. Japan's Nikkei plunged 4.36% or 378.94 points at 8,316.57. Singapo

  • Hold India Cements: PINC Research

    13th November, 2008 11:38

    PINC Research has recommended hold rating on India Cements. At the CMP of Rs 85, ICL is trading at a P/E of 3.7x, EV/EBIDTA of 2.3x and EV/mt of USD59 its FY10E ea

  • ULJK Securities bullish on PNB

    13th November, 2008 11:37

    ULJK Securities remains bullish for the Punjab National Bank, PNB considering the performance. Punjab National Bank (PNB), the second largest PSB, has been able t

  • Hold Ultratech Cement, target Rs 369: Indiabulls Securities

    13th November, 2008 11:35

    Indiabulls Research has recommended a hold rating on Ultratech Cement, with price target of Rs 369. The fair value estimate of Rs 369 reflects an upside potential

  • Buy Petron Engineering Construction: Nirmal Bang

    13th November, 2008 11:31

    Nirmal Bang has recommended a buy rating on Petron Engineering Construction. The company reported a Net Sales of Rs 118.6 crore in Q2 FY 09 as against Rs 65.02 cro

  • Buy Shiv Vani Oil, target of Rs 544: Nirmal Bang

    13th November, 2008 11:28

    Nirmal Bang has maintained its buy rating on Shiv Vani Oil & Gas Exploration Services with a revised target price of Rs 544.1. Shiv Vani Oil registered strong top

  • Buy Reliance Infra: Indiabulls Securities

    13th November, 2008 11:25

    Indiabulls Securities Research has recommended a buy rating on Reliance Infrastructure. The research firm has revised its estimates for the company largely on acco

  • Buy Patel Engg, target Rs 347: KRChoksey

    13th November, 2008 11:23

    KRChoksey Research has maintained its buy rating on Patel Engineering, with price target of Rs 347. The research firm anticipates slowdown in order inflow and an i

  • Buy Kirloskar Brothers, target Rs 113: KRChoksey

    13th November, 2008 11:20

    KRChoksey Research has recommended a buy rating on Kirloskar Brothers, with price target of Rs 113. At the target price, the stock would be valued at 10.7x FY09E E

  • Buy Gateway Distriparks, target Rs 97: KRChoksey

    13th November, 2008 11:14

    KRChoksey Research has recommended a buy rating on Gateway Distriparks, with price target of Rs 97. At CMP of Rs 75, the stock is trading at 8.3x on FY09E EPS of R

  • US bailout: Treasury won't buy troubled mortgage assets

    13th November, 2008 11:07

    US Treasury Secretary Henry Paulson said the Treasury is dropping its original plan to buy troubled mortgage assets as it was no longer the most effective way to u

  • Tata Motors’ Jamshedpur unit may see second closure in Nov

    13th November, 2008 10:32

    Tata Motors' Lucknow plant is likely to be shut for another week, reports CNBC-TV18, quoting sources. A Tata Motor's spokesperson said the company’s Lucknow plant

  • Deploy funds into credit mkt now: BlackRock 

    13th November, 2008 10:27

    Larry Fink of BlackRock feels it’s time for investors with a long-term view to redeploy cash. He said the credit market is the first asset class that needs to re-c

  • Record volume on offer at Coonoor tea auctions

    13th November, 2008 09:57

    An analysis of brokers’ catalogues indicates that 16.51 lakh kg are being offered for Sale No: 46 at the Coonoor Tea Trade Association (CTTA) auctions to be held o

  • Spot rubber slips on buyer resistance

    13th November, 2008 09:51

    Rubber prices slipped further on Wednesday. RSS 4 moved down to Rs 84 from Rs 84.50 a kg on buyer resistance amidst selling from growers and dealers. Major manufac

  • Crude falls to 21-month low, trades at $55.42/bbl

    13th November, 2008 09:41

    Crude prices fell to a 21-month low on speculation that international energy agency OPEC will cut its global demand estimate today and the US will report that stoc

  • Indian GDRs: Gail slips 14.5%, ICICI Bank down 11.2%

    13th November, 2008 09:10

    Indian GDRs: Gail slipped 14.56% at USD 23.12, ICICI Bank was down 11.26% at USD 16.87, RIL dropped 8.91% at USD 50, L&T plunged 7.38% at USD 17.70, Mahindra slipp

  • Wall Street plunges; Dow slips 411 points

    13th November, 2008 08:19

    US stocks fell for the 3rd day after US Treasury Secretary Henry Paulson announced that the treasury is dropping its original plan to buy troubled mortgage assets,

  • Biz is marathon, not sprint: Venture capitalist N Chaddha 

    13th November, 2008 02:00

    A serial entrepreneur who’s now turned venture capitalist, Navin Chaddha, 37, Managing Director, Mayfield Fund is on Forbes Top Ten Dealmakers List for 2008. Chadd

  • Young entrepreneur with 'Burst of Talent': BS Talwar 

    13th November, 2008 01:00

    Bharat Singh Talwar, gave up his job with KPMG to turn entrepreneur. His true calling came in 2002 when along with his two ex-Monster colleagues; Bharat founded ta

  • Airtel & asklaila partner to power city search

    13th November, 2008 16:33

    asklaila, India’s first local information service, announced a strategic partnership with India’s largest private telecom service provider, Airtel, to power all of

  • IBM unveils new x86 servers with Intel Xeon processors

    13th November, 2008 16:09

    IBM unveils new x86 servers with latest six-core Intel Xeon processors. IBM continues to dominate the high-end scalable x86 market, defined at 8-socket systems and

  • LANXESS sets trends for Spring/Summer 2010

    13th November, 2008 16:00

    LANXESS sets trends for Spring/Summer 2010

  • Millennium Spire Limited launches Spire World

    13th November, 2008 15:33

    Millennium Spire Ltd., an “Alternative Strategies” fund under the UK-based Millennium Global umbrella, focused on private equity investments in Real Estate in Indi

  • Asian markets end lower

    13th November, 2008 15:12

    Asian markets ended lower. Hong Kong's Hang Seng fell 5.15% or 717.74 points at 13,221.35. Japan's Nikkei plunged 5.25% or 456.87 points at 8,238.64. Singapore's S

  • Radio Mirchi makes 'Hari Puttar'

    13th November, 2008 15:10

    To celebrate the forthcoming Children's Day, Radio Mirchi 98.3FM, India's hottest Radio station has pledged to make this occasion even more special for the visuall

  • IMX rolls out deal management tool- i-Deal

    13th November, 2008 14:54

    India Media Exchange rolls out proprietary deal management tool- i-Deal. i-Deal will benefit not only the agency planners and buyers, but give IMX clients access t

  • Buy Indiabulls Real Estate: Motilal Oswal

    13th November, 2008 14:44

    Motilal Oswal has recommended a buy rating on Indiabulls Real Estate. Management has indicated that they would re-evaluate all their development plans and adopt a

  • Need to check any severe slowdown in industrial gwth:CII

    13th November, 2008 14:22

    CII notes a revival in IIP growth during September 2008 at 4.8% compared to August IIP growth of 1.4%. While September 2008 IIP growth is more, the overall IIP gro

  • Buy Kesoram Inds: Motilal Oswal

    13th November, 2008 14:16

    Motilal Oswal has maintained its buy rating on Kesoram Industries. The research firm have revised its earnings estimate downwards by 6% for FY09E to Rs 75.9 and 15

  • Likely fin package welcome; mkts not out of woods yet 

    13th November, 2008 13:57

    The markets are not out of the woods from the bad news by a long shot. Any government help is welcome but help will not get the markets out of the woods quite easi

  • European markets trading lower

    13th November, 2008 13:55

    European markets were trading lower. CAC 40 was down 0.05% or 1.75 points at 3,232.21. DAX slipped 0.38% or 17.07 points at 4,603.73. FTSE 100 fell 1.40% or 58.42

  • Ranbaxy Labs an underperformer: Anagram

    13th November, 2008 13:52

    Anagram Research has kept an underperformer rating on Ranbaxy Laboratories. The research firm's are though positive on the Daiichi-Ranbaxy deal as it would signifi

  • Xerox India appoints Mark Pettit as Executive Director

    13th November, 2008 13:40

    Xerox India announced the appointment of Mr. Mark Pettit as the Executive Director for Xerox Global Services, the consulting and outsourcing division of Xerox with

  • Buy ITC: Motilal Oswal

    13th November, 2008 13:28

    Motilal Oswal has maintained its buy rating on ITC. Margins are expected to improve as the full impact of price increase will be reflected in 3QFY09 onwards.

  • Microchip announces high-resolution delta-sigma ADCs

    13th November, 2008 13:18

    Microchip Technology Inc., has announced a new series of low-power, high-resolution Delta-Sigma Analog-to-Digital Converters (ADCs). The MCP3422, MCP3423 and MCP34

  • Seagate & McAfee drive advances in notebook computers

    13th November, 2008 13:08

    Seagate announced sweeping advances in its global push to help secure notebook computer information from theft or loss. To combat growing threats to mobile informa

  • Hold Info Edge, target of Rs 450: ICICIdirect.com

    13th November, 2008 13:02

    ICICIdirect.com has maintained its hold rating on Info Edge with a price target of Rs 450. PAT grew 3.50% YoY at Rs 15.67 crore

  • Buy GE Shipping, target of Rs 284: ICICIdirect.com

    13th November, 2008 12:50

    ICICIdirect.com believes that the current fall in GE Shipping price is due to the overall weakness in market which presents a compelling buying opportunity with a

  • Sorento receives 3 nominations at Global Awards

    13th November, 2008 12:44

    Three entries from Sorento Healthcare India have been short-listed among the finalists at Global Awards 2008. The Globals is an arm of the New York Festivals, and

  • Cisco data leakage study assesses the 'Insider Threat'

    13th November, 2008 12:35

    Cisco issued the third and final set of findings from its global security study on data leakage, shedding light on the employee “insider threat” to corporate infor

  • Buy Adhunik Metaliks: Nirmal Bang

    13th November, 2008 12:23

    Nirmal Bang has recommended a buy rating on Adhunik Metaliks with a target of Rs 190. At the current price of Rs 50, the price earnings (P/E) multiple works out to

  • Buy Kesoram Industries, target of Rs 666: SKP Securities

    13th November, 2008 12:15

    SKP Securities has a buy rating on Kesoram Industries with a target price of Rs 666. Net sales were up by 32.77% to Rs. 889.56 crores in Q2FY09 over Q2FY08.

  • eRevMax & Utell Hotels announce partnership

    13th November, 2008 12:14

    eRevMax, a leader in online hotel distribution management tools and Utell Hotels & Resorts, the world’s largest provider of representation services for hotels, tod

  • Lanco Hills hikes project cost to Rs 7,200 cr

    13th November, 2008 12:08

    Lanco Hills, a special purpose vehicle of Lanco Infratech, has hiked the cost of the mixed development project that includes a special economic zone near Hyderabad

  • Hold Idea Cellular, target of Rs 58: Indiabulls Securities

    13th November, 2008 12:07

    Indiabulls Securities Research has downgraded its rating on Idea Cellular to hold with a target price of Rs 58. At the CMP of Rs. 48, Idea’s stock is trading at a

  • Ratan Tata to group cos: Freeze acquisitions, capex plans

    13th November, 2008 12:04

    Warning of hard days ahead, Mr RatanTata has asked all the Tata Group companies to put on hold their acquisition and capital expenditure plans.

  • Shop at one click with Manish Chandra at kaboodle.com 

    13th November, 2008 12:00

    Manish Chandra , a young achiever is someone who truly believes that small is big. He has taken three companies public before starting his own venture kaboodle.com

  • Hold Wockhardt, target Rs 250: KRChoksey

    13th November, 2008 11:39

    KRChoksey Research has recommended a hold rating on Wockhardt, with price target of Rs 250. At the CMP of Rs 142, the stock is trading at 4.02x FY07 EPS of Rs 35.3

  • Buy VST Tillers, target of Rs 175: LKP Shares

    13th November, 2008 11:37

    LKP Shares has recommended a buy rating on VST Tillers Tractors, with 6-month price target of Rs 175. Given the robust free cash generation VSTT would have a book

  • Buy UB Engineering: Nirmal Bang

    13th November, 2008 11:36

    Nirmal Bang has recommended a buy rating on UB Engineering. The research firm expects the company to achieve Net Sales of Rs 491.37 crore and Rs 641.38 crore, EBID

  • Not much upside in ICICI Bank: ULJK Securities

    13th November, 2008 11:33

    ULJK Securities doesn’t see much upside in ICICI Bank in the near term as there is a concern of growth for the bank is and issues related to NPA management.

  • Expect good upside in SBI: ULJK Securities

    13th November, 2008 11:30

    ULJK Securities believes that SBI’s provides a good potential for an upside in the near to medium term period. The net profit of the Bank has gone up by 40.2% YoY

  • Buy Sintex India, target of Rs 314: Hem Securities

    13th November, 2008 11:26

    Hem Securities is bullish on Sintex India and has recommended buy rating on the stock with a target of Rs 314. The company has got approval from 16 states for its

  • Buy Indraprastha Gas, target of Rs 154.5: Parag Parikh

    13th November, 2008 11:24

    Parag Parikh Financial Advisory Services has recommended a buy rating on Indraprastha Gas with a target price of Rs 154.5. For the quarter ended 30th September, 20

  • Buy 3i Infotech, target of Rs 58: PINC

    13th November, 2008 11:23

    PINC Research is bullish on 3i Infotech and has maintained buy rating on stock with a target of Rs 58. At the CMP of Rs 43, 3i is trading at a P/E of 3.0x and EV/E

  • Buy HEG, target of Rs 319: SKP Securities

    13th November, 2008 11:17

    SKP Securities has maintained its buy rating on HEG, with price target of Rs 319. The research firm have valued the core business of the company at 5 x FY10E earni

  • Buy Gateway Distriparks: India Capital Markets

    13th November, 2008 11:11

    India Capital Markets has maintained its buy rating on Gateway Distriparks. Gateway Distriparks Ltd (GDL) has reported impressive Q2FY09 numbers in revenues on bac

  • Buy Dishman Pharma, target Rs 185: Reliance Money

    13th November, 2008 11:07

    Reliance Money has recommended a buy rating on Dishman Pharmaceuticals and Chemicals, with a 12-month price target of Rs 185. Dishman Pharmaceuticals & Chemicals r

  • HDFC Top 200 Fund buys IT, banking, teelcom

    13th November, 2008 10:29

    HDFC Top 200 Fund increased its exposure to IT, food & beverages, banking, telecom, pharma, media, chemical, utilities, cement & construction, real estate, while t

  • HDFC Equity Fund picks IT, telecom, oil; sells engg

    13th November, 2008 10:24

    HDFC Equity Fund has made buying in IT, telecom, oil & gas space, while sold engineering, pharma, consumer non-durable, banking, media, metal, auto and food & beve

  • Demand for crop nutrients slows down

    13th November, 2008 09:54

    Aries Agro, a speciality fertiliser manufacturing company, has deferred the launch of a new production unit at Panvel in the outskirts of Mumbai to March from the

  • Inflation reaches single-digit, touches 8.98%

    13th November, 2008 09:47

    Inflation for the week-ended November 1 has reached single-digit and come in at 8.98% compared with 10.72% the week earlier. Yes Bank feels week-ended November 1

  • Slowdown worries to impact Q3 adv tax collections: Sources

    13th November, 2008 09:37

    Revenue Secretary held a review meeting with Income Tax Chief Comissioners to discuss ways of shoring up direct tax revenues, reports CNBC-TV18, quoting Finance Mi

  • Indian ADRs: Patni slips 13%, ICICI Bank down 12%

    13th November, 2008 08:23

    Indian ADRs: Patni, ICICI Bank, Satyam, Tata Motors, Infosys, Wipro, HDFC Bank, Sterlite, Dr Reddys, Tata Comm and MTNL plunged.

  • Asian markets tumble; Hang Seng plunges 6.2%

    13th November, 2008 08:15

    Asian markets were trading weak. China's Shanghai Composite was down 0.67% or 12.50 points at 1,846.61. Hong Kong's Hang Seng plunged 6.22% or 867.11 points at 13,

  • MF NAVs end with negative returns

    13th November, 2008 01:10

    Equity diversified NAVs continued to remain under pressure and ended lower with negative advance:decline ratio of 4:213. as markets closed deep in the red amid ext

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