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Moneycontrol News Archive : 18 November, 2008

  • Govt imposes 5% import duty on iron, steel products 

    18th November, 2008 20:49

    After a series of meetings between Finance Minister P Chidambaram and Prime Minister Manmohan Singh in the capital, the government has imposed a 5% import duty on

  • Star-Jupiter's Asianet stake won't affect Sun much 

    18th November, 2008 20:00

    The Star Group has aligned with Jupiter Entertainment to form a joint venture. The JV has acquired a majority stake in Asianet. How will this affect Sun TV’s fortu

  • Buy NCDEX Pepper (Dec) above Rs 12200: Anagram

    18th November, 2008 19:32

    Anagram Research has recommended to buy NCDEX Pepper (Dec) above Rs 12200 with a stoploss of Rs 11800 and targets of Rs 12600 and Rs 12620 in its November 18, 2008

  • Don't rush, wait till May '09 before buying: DSP BlackRock 

    18th November, 2008 19:00

    Anup Maheshwari, DSP BlackRock said investors should watch earnings growth closely before buying. "Markets are pricing in an economic slowdown. They are in a value

  • Buy Thermax at declines: Asit C. Mehta

    18th November, 2008 18:46

    Asit C. Mehta has recommended to buy Thermax at declines with a target of Rs 280. Looking forward the research firm expects the revenues to register a CAGR of 19%

  • See 7K for Sensex; 2.5K for Nifty ahead: MIG Investments 

    18th November, 2008 17:43

    Richard Morrish, Head - Research at MIG Investments, feels equity markets around the globe have more pain to take. “[For] the Sensex we’ve got to be looking down a

  • Support for Gold seen at USD 725: Anagram

    18th November, 2008 17:27

    According to Anagram Research Commodity report, Key support for Gold seen around USD 725 and key resistance seen around USD 750 in its November 18, 2008 research r

  • Crude may slip to USD 45/bbl 

    18th November, 2008 17:23

    Crude prices are trading near their two-year lows. We have seen USD 55/bbl break and USD 54.15/bbl is the kind of low that the markets have just touched recently.

  • Buy JMC Project, target of Rs 97: KRChoksey

    18th November, 2008 16:57

    KRChoksey Research has maintained its buy rating on JMC Projects (India) with a target of Rs 97. Company’s sales increased by 76.4% y-o-y to Rs 325.5 crore. The PA

  • Oracle India launches Remarketer Program

    18th November, 2008 16:47

    Oracle India launches Remarketer Program for new resellers through its value added distributors. The Oracle VAD Remarketer Program enables Tech Pacific to resell O

  • IBM launches 'Smart Business'

    18th November, 2008 16:32

    IBM launches 'Smart Business'. IBM today announced the availability of “IBM Smart Business,” a breakthrough way for small and medium businesses to acquire, use and

  • OI PCR slips below one; F&O turnover stands @ Rs 43K cr 

    18th November, 2008 16:29

    The total turnover was at Rs 55,000 crore with the F&O space contributing about Rs 43,000 crore. RComm added 5 lakh shares and its other telecom counterparts saw s

  • Axis strengthens its mkt leading position: IMS Research

    18th November, 2008 16:16

    Axis strengthens its market leading position according to new report from IMS. Axis is positioned as number six in the world in the category - vendors providing su

  • Satyam BPO among top 4 in 2008 Global Six Sigma

    18th November, 2008 16:11

    Satyam BPO among top 4 in 2008 Global Six Sigma and Business Improvement Awards. Satyam Computer Services Ltd, a leading global consulting and information technolo

  • Thinkers for new Challenges

    18th November, 2008 16:04

    As an unprecedented global financial crisis blows away established beliefs about capitalism and free markets, the world starts looking out for new ideas. The best

  • MFs net sell Rs 1581 cr in Nov '08

    18th November, 2008 15:49

    Mutual Funds were net sellers to the tune of Rs 390.9 crore in equity on November 17, 2008. So far in the month of November 2008, MFs has offloaded Rs 1,581.70 cr

  • RPG Enterprises to add 325 stores over next 12 months

    18th November, 2008 15:33

    Sanjiv Goenka, Vice-Chairman of RPG Enterprises, said, unless banks start lending vigorously and the government cuts excise duty, the company cannot cut prices. Go

  • Mkts slip in line with Asian indices 

    18th November, 2008 15:32

    Markets will close more than 4% down like the rest of Asia. Asia was quite a dismal picture today; China was down 6% and many other markets fell between 3% and 5%.

  • High powered committee on civil aviation to meet today 

    18th November, 2008 15:25

    A high powered committee on civil aviation will meet today at the Cabinet Secretary’s office. The secretaries from the Ministries of Oil, Finance, and also the Civ

  • Rebuilding Brand America

    18th November, 2008 15:22

    On January 20, 2009, George Bush will hand over to Barack Obama a ravaged economy and an injured national reputation. The world will watch how Obama mends both.

  • See inflation at 4% in 3-4 months: Deutsche Bank 

    18th November, 2008 15:12

    Anant Narayan, Head of Treasury at Deutsche Bank sees inflation at 4% in three to four months. He expects key rate cuts by the RBI soon.

  • Nifty 2700 an important psychological level 

    18th November, 2008 15:04

    The Nifty trading well below 2,700 mark, which has become a very important psychological level these last couple of days.

  • Alkali Metals gains further ground

    18th November, 2008 15:00

    Alkali Metals has continued to gain. It had touched an intraday high of Rs 182.40 and an intraday low of Rs 155. At 2:53 pm, the share was quoting at Rs 181, up Rs

  • Invest in SBI, PNB: Bharatan

    18th November, 2008 14:58

    Sheshadri Bharatan of Dawnay Day AV Financial Services is of the view that one can invest in Punjab National Bank, State Bank of India, HDFC Bank, Axis Bank from o

  • ONGC moves down

    18th November, 2008 14:57

    ONGC had touched an intraday high of Rs 692.75 and an intraday low of Rs 654.90. At 2:47 pm, the share was quoting at Rs 665, down Rs 35.25, or 5.03%. It was tradi

  • Jaiprakash Associates slips further

    18th November, 2008 14:43

    Jaiprakash Associates had touched an intraday high of Rs 72.20 and an intraday low of Rs 67. At 2:33 pm, the share was quoting at Rs 68.70, down Rs 3.7, or 5.11%.

  • Tender shares in TTMLs open offer: KRChoksey

    18th November, 2008 14:37

    KRChoksey Research advises investors to tender their shares in the open offer of TTML and seek re-entry at lower levels to gain from the de-listing premium.

  • Buy C and C Constuctions, target of Rs 137: KRChoksey

    18th November, 2008 14:29

    KRChoksey Research has maintained its buy rating on C and C Constuctions with a target of Rs 137. Company’s sales increased by 162% yoy to Rs 129 crore on the back

  • Hold Tata Power, target of Rs 830: KRChoksey

    18th November, 2008 14:18

    KRChoksey Research has maintained its hold rating on Tata Power Company with a target price of Rs 830. Net sales surged by 45% (YoY) to Rs 1,958.9 crore in Q2FY09

  • Ashapura Minechem back on track

    18th November, 2008 14:14

    Ashapura Minechem had touched an intraday high of Rs 28.20 and an intraday low of Rs 24.15. At 2:04 pm, the share was quoting at Rs 27.60, up Rs 1.65, or 6.36%. It

  • Power Grid looks attractive: G Shah 

    18th November, 2008 14:13

    Gaurang Shah of Geojit Financial Services is of the view that Power Grid is looking attractive.

  • Marico recovers sharply

    18th November, 2008 14:00

    Marico had touched an intraday high of Rs 49.90 and an intraday low of Rs 47. At 1:56 pm, the share was quoting at Rs 49.80, up Rs 2.45, or 5.17%. It was trading w

  • European markets trading flat

    18th November, 2008 13:57

    European markets were trading flat. CAC 40 was flat at 3,180.40. DAX rose 0.79% or 35.85 points at 4,593.12. FTSE 100 was up 0.08% or 3.22 points at 4,135.38.

  • Idhasoft ties up with Westcon Group

    18th November, 2008 13:49

    Idhasoft ties-up with Westcon Group, a multi-national specialty distributor in US. Under this agreement Idhasoft will be able to sell and deploy on-site services s

  • Sobha Developers pledge further 6% with Swiss bank 

    18th November, 2008 13:41

    Sobha Developers promoters have pledged further 5.89% equity with Bank Sarasin, Switzerland. Promoters have pledged 24.4% equity with Bank Sarasin, and Credit Suis

  • Infra sector to face growth challenge: KV Kamath 

    18th November, 2008 13:36

    On the sidelines of the CII meeting, KV Kamath, Managing Director and CEO, ICICI Bank, said the biggest challenge we will have in terms of our overall growth is in

  • Mkts off day's low; IT, power, metal, bank, telecom slip

    18th November, 2008 13:33

    The markets are trading weak but off the day's low. The Sensex and Nifty are trading above their psychological 9,000 and 2,700 mark respectively. All sectoral indi

  • Gold trading in USD 730-750/oz range 

    18th November, 2008 13:23

    Gold prices also have declined quite a bit. We saw trading range happened between USD 750/oz to USD 730/oz in the markets yesterday.

  • Buy Repro India: LKP Shares

    18th November, 2008 13:02

    LKP Shares has maintained its buy rating on Repro India. Q2-FY’09 witnessed revenue growth of 43% yoy and EBIDTA grew 48% yoy led by exports, which accounted for 6

  • Realty Index dips almost 87% from January highs

    18th November, 2008 13:00

    Realty Index has declined by nearly 87 per cent from the highs it touched in January. Though the RBI’s recent move has eased, some liquidity to the sector will the

  • Core Projects plummets 8.8%

    18th November, 2008 12:58

    Core Projects & Technologies had touched an intraday high of Rs 48.90 and an intraday low of Rs 45.15. At 11:53 am, the share was quoting at Rs 45.60, down Rs 4.4,

  • UTV Software puts on a poor show

    18th November, 2008 12:44

    UTV Software Communications had touched an intraday high of Rs 273 and an intraday low of Rs 258.10 At 11:53 am, the share was quoting at Rs 264.90, down Rs 8.55,

  • Godawari Power an outperformer: Karvy

    18th November, 2008 12:42

    Karvy Stock Broking has revised its rating on Godawari Power & Ispat (GPIL) from buy to outperformer with a target of Rs 84. Net profit at Rs 345 million grew by 6

  • Satyam among major losers

    18th November, 2008 12:32

    Satyam Computer Services is among major losers on the Sensex. It had touched an intraday high of Rs 248 and an intraday low of Rs 236.40. At 11:53 am, the share wa

  • SBI witnesses selling pressure

    18th November, 2008 12:30

    SBI has touched an intraday high of Rs 1,149 and an intraday low of Rs 1,103. At 11:53 am, the share was quoting at Rs 1,108.50, down Rs 59.6, or 5.1%. It was trad

  • No reports of credit crunch hitting power plants: Govt 

    18th November, 2008 12:27

    The Power Secretary, Anil Razdan said that there are no reports as of now that credit crunch is affecting power plants. He would be shortly holding a meeting with

  • Asian markets plunge; Shanghai Composite down 6.8%

    18th November, 2008 12:22

    Asian markets were trading weak. China's Shanghai Composite tumbled 6.79% or 137.93 points at 1,892.56. Hong Kong's Hang Seng plunged 5.19% or 701.68 points at 12,

  • Nifty below 2700; bank, IT, power, telecom, oil stks dip

    18th November, 2008 12:18

    The benchmark indices slipped further on the back fall in the Asian markets, which are down 2-5%. Banking, technology, telecom, metal, power, capital goods and oil

  • IVRCL Infrastructure turns up

    18th November, 2008 12:15

    IVRCL Infrastructure and Projects had touched an intraday high of Rs 115 and an intraday low of Rs 102.35. At 11:53 am, the share was quoting at Rs 113.20, up Rs 4

  • Maruti Suzuki has support at Rs 466: HDFC Securities

    18th November, 2008 12:11

    According to HDFC Securities report, Maruti Suzuki India (MSIL) has support at Rs 466 and resistance at Rs 632. The expected price range for 3 months is Rs 498-Rs

  • Apollo Tyres tumbles 20%

    18th November, 2008 12:05

    Apollo Tyres has touched a 52-week low of Rs 20.30. At 11:53 am, the share was quoting at Rs 20.30, down Rs 4.95, or 19.6%. It was trading with volumes of 1,277,35

  • Hold Apollo Hospitals: Mohoni 

    18th November, 2008 11:55

    Technical Analyst, Deepak Mohoni is of the view that one can hold Apollo Hospitals Enterprises but it is not doing anything spectacular in either direction.

  • Sobha Developers hits new low

    18th November, 2008 11:49

    Sobha Developers has touched a 52-week low of Rs 86.70. At 11:47 am, the share was quoting at Rs 88.50, down Rs 3.2, or 3.49% on the NSE. Sobha Developers promoter

  • Hold Kingfisher Airlines, says Baliga 

    18th November, 2008 11:40

    Ambareesh Baliga of Karvy Stock Broking is of the view that one should hold Kingfisher Airlines. The oil prices have come down, which is positive, the fares have s

  • Hold Kingfisher Airlines: Mohoni 

    18th November, 2008 11:37

    Technical Analyst, Deepak Mohoni is of the view that one should hold Kingfisher Airlines. It has fallen very sharply during the bear market and it is not very far

  • Hold Axis Bank, says Mohoni 

    18th November, 2008 11:32

    Technical Analyst, Deepak Mohoni is of the view that one can hold Axis Bank and you will see better prices than todays in the next few months in the way.

  • Buy Axis Bank on declines: Baliga 

    18th November, 2008 11:29

    Ambareesh Baliga of Karvy Stock Broking is of the view that one can buy Axis Bank on declines. If it falls about 5% to 8% from here you should try and average out

  • Open interest build up of 5-6% in Axis Bank

    18th November, 2008 11:23

    Axis Bank is down about 3.5% in cash markets. There is a 5-6% open interest build up in futures. It is trading at 1% discount.

  • Great Offshore touches 52-week low

    18th November, 2008 11:10

    Great Offshore has touched a 52-week low of Rs 200. At 11:01 am, the share was quoting at Rs 222.20, down Rs 22.65, or 9.25%. It was trading with volumes of 123,69

  • Binani Industries to consider buy back, stk up

    18th November, 2008 11:08

    Binani Industries had touched an intraday high of Rs 41.90 and an intraday low of Rs 39.60. At 10:59 am, the share was quoting at Rs 40.50, up Rs 0.50, or 1.25%. T

  • See portfolio investors back to India in 18-24 months: IDFC 

    18th November, 2008 10:53

    Nishid Shah, President and CIO, IDFC Investment Advisors, sees earnings disappointment for next two quarters, but assures that market has priced in this concern. P

  • Hold Great Offshore, target of Rs 273: KRChoksey

    18th November, 2008 10:52

    KRChoksey Research has recommended a hold rating on Great Offshore with a target price of Rs 273. GOL consolidated net sales increased 4.62% y-o-y to Rs 159.3 cror

  • Mkts weak; RIL, ONGC, SBI, ICICI, Bharti, Infy drag

    18th November, 2008 10:45

    The markets are still reeling under selling pressure, despite showing some recovery from lows of the day. The Sensex has bounced back above 9000 level and the Nift

  • ABB top loser on the Nifty

    18th November, 2008 10:41

    ABB is the top loser on the Nifty. It had touched an intraday high of Rs 439 and an intraday low of Rs 417. At 10:40 am, the share was quoting at Rs 422, down Rs 2

  • Mkts may test but not breach Oct lows: BNP Paribas 

    18th November, 2008 10:31

    Clive McDonnell, Head of Equity Strategy at BNP Paribas Securities feels the markets may retest the October 27 but it’s unlikely to breach those levels. He believe

  • NALCO melts down 7.3%

    18th November, 2008 10:21

    NALCO had touched an intraday high of Rs 180 and an intraday low of Rs 170.55. At 10:11 am, the share was quoting at Rs 170.60, down Rs 13.55, or 7.36%. It was tra

  • Esop plan won't result in big dilution: India Infoline 

    18th November, 2008 10:16

    India Infoline has apparently cancelled its warrants to the CLSA institutional team which joined it a while back and the issue of ESOPs. Nirmal Jain of India Infol

  • Reliance may re-test Rs 930-940: Gujral 

    18th November, 2008 10:11

    Technical Analyst, Ashwani Gujral is of the view that for Reliance Industries Rs 1,150 was the key level and once that is gone it should retest its previous lows o

  • Expect base metals to trade down: Nirmal Bang

    18th November, 2008 10:01

    According to Nirmal Bang's Commodities Outlook, Base Metals expected to trade down for the day.

  • Expect Pepper and Turmeric to trade up: Nirmal Bang

    18th November, 2008 10:00

    According to Nirmal Bang's Commodities Outlook, Pepper and Turmeric are expected to trade up for the day after sharp decline in INR and reports of grim stock scena

  • Chambal Fert has support at Rs 31: Gujral 

    18th November, 2008 09:57

    Technical Analyst, Ashwani Gujral is of the view that Chambal Fertilisers and Chemicals has support at Rs 31 and resistance or any upside will happen only above Rs

  • Sensex has support at 9020/8748: Anand Rathi

    18th November, 2008 09:54

    According to Anand Rathi Securities' report, the support levels for the Sensex are at 9020 followed by 8748. The resistance levels to watch would be 9499 followed

  • Nifty Futures have support at around 2700: Anand Rathi

    18th November, 2008 09:50

    According to Anand Rathi Securities' report, Nifty futures have support around 2700 levels which can be treated as stop loss levels for trading long positions

  • Nifty has support at 2745-2695: Nirmal Bang

    18th November, 2008 09:45

    According to Nirmal Bang's Morning Call, Nifty has support at 2745-2695-2650-2520 and resistance at 2850-2910-2975.

  • Sensex has support at 9020-8880: ICICIdirect.com

    18th November, 2008 09:40

    According to ICICIdirect.com's report, the Sensex has supports at 9020 and 8880 resistances at 9260 and 9380.

  • Don't short on gap down today: Ashwani Gujral 

    18th November, 2008 09:37

    Ashwani Gujral, Technical Analyst, said we have been down for last four days, so we might have a one day rally lurking somewhere.Thus he cautions to not go for a s

  • See global consumption reducing in India: Anagram Capital 

    18th November, 2008 09:34

    Munesh Khanna, Chairman, Anagram Capital, sees global consumption reducing in India. He added in absence of any positives one would feel that the market is in a lo

  • Nifty may correct upto 2717: Angel

    18th November, 2008 09:21

    According to Angel Broking's Market Outlook report, if NIFTY trades below 2,777 for the first half-an-hour of trade then it may correct up to 2,717.

  • See longer, deeper global recession but India to cope: FM 

    18th November, 2008 09:17

    Finance Minister P Chidmabaram speaking on the effect of the current global crisis on India said that there have been recessions in the past but added that the cur

  • Nifty has support at 2694: Reliance Money

    18th November, 2008 09:13

    According to Reliance Money's Morning Notes, they saw NIFTY making strong support around levels of 2694 and bouncing back which should provide support even in toda

  • Government aid to boost biotech R&D 

    18th November, 2008 09:10

    Funds for research and development have become difficult to find and so the government is stepping in to partner with the biotech industry on a cost sharing basis

  • FMCG cos to maintain prices as input costs fall 

    18th November, 2008 09:04

    Commodity prices have fallen in the last couple of months, from their record highs. One of the biggest beneficiaries are personal care companies, because their inp

  • Rupee opens at Rs 49.51 per dollar

    18th November, 2008 09:02

    The Indian Rupee opened at Rs 49.51 per dollar versus Rs 49.34 yesterday.

  • Sell MCX Dec Silver at Rs 16450/kg: Manglik

    18th November, 2008 08:57

    I am bearish on silver and copper. For silver, sell MCX December at Rs 16,450 per kilogram with a target of Rs 16,100 per kilogram, says Manglik.

  • Rupee likely to be under pressure: Sharma

    18th November, 2008 08:54

    The rupee is likely to be under pressure on negative global cues and weak domestic fundamentals. The range for the day is seen between Rs 49.20-49.80 per dollar, s

  • JSW Steel, UK’s Severfield to float jt venture

    18th November, 2008 08:51

    JSW Steel has entered into a joint venture with UK-based Severfield Reeve Structure through its wholly owned subsidiary, JSW Building Systems, to make structural s

  • Sensex tests 9K on weak global cues

    18th November, 2008 08:49

    The markets started the day on a weak note following downtrend across the globe. US markets have fallen on economic concerns and weak jobs data. Asian markets are

  • Infosys sticks to revenue guidance; looking for buyouts

    18th November, 2008 08:42

    Infosys Technologies on Monday termed the current global environment as “difficult and challenging” but said it is sticking to its quarterly and FY09 revenue guida

  • Cooking oil may turn costlier if customs duty is hiked

    18th November, 2008 08:40

    Despite the Government’s recent rejection of the vegetable oil industry’s demand for re-imposition of customs duty on imported oils, efforts have once again begun

  • Support for the Sensex at 8940: Gaba

    18th November, 2008 08:34

    The support for the Sensex is 8940 and the resistance to the up move is at 9505-9705.

  • Crude @ 21-month low 

    18th November, 2008 08:30

    The biggest worry is being that Japan is joining the euro zone in a recession. Organization of the Petroleum Exporting Countries (OPEC) is cutting its oil demand g

  • See more downside risk for India: Bank Julius Baer 

    18th November, 2008 08:29

    Asian markets have retreated to a three week low on concern that slowing global economy is stifling the outlook for profits. V Anantha Nageswaran, Head-Investment

  • Support for the Nifty at 2630-2650: Gujral

    18th November, 2008 08:25

    Market will have a gap down opening today. Supports for the Nifty is at 2630-2650 and resistance are at 2860-2936.

  • F&O cues: Futures Open Int up by Rs 415 cr

    18th November, 2008 08:21

    F&O cues: Nifty Nov Fut Open Int unchanged, Dec Fut add 5.6 lakh shares in Open Int. Futures Open Int up by Rs 415 crore, Options Open Int down by Rs 63 crore.

  • Crude hits 21-month low, at $55.11/bbl 

    18th November, 2008 08:15

    Oil prices ended at 21-month low after Japan became the latest major economy to fall into recession, raising concerns that global fuel demand will fall further. In

  • Wall St slips on economic concern; Dow down 223 points

    18th November, 2008 08:11

    US markets tumbled on dismal news extending a two- week drop as retailers reported profit declines, big banks prepared for job cuts and Japan officially declared i

  • RBI's steps for realty sector may ease loan flow 

    18th November, 2008 01:00

    On November 15 the RBI annoucned a bunch of measures for real estate and NBFC sectors. It reduced the amount of capital needed to back loans to these sectors. It a

  • Meltdown fire singes hotels; occupancies, rates down 

    18th November, 2008 20:26

    The slowdown in the economy is beginning to pinch the hospitality sector. Some hotels in Mumbai have seen a 15% drop in occupancy and a 10% dip in room rates. Neha

  • Cos must balance traditional products and ULIPs: IRDA 

    18th November, 2008 20:00

    Insurance regulator, the Insurance Regulatory and Development Authority (IRDA), said a balance between traditional products and ULIPs, or unit-linked insurance pla

  • 2,700 Nifty, 9,000 Sensex breached decisively  

    18th November, 2008 19:13

    After a gap down start, the markets made repeated attempts at a recovery, but with selling pressure playing spoilsport, every rebound was cut short. Many large sec

  • FIIs net sell of USD 156.7 mn on Nov 17

    18th November, 2008 18:52

    FIIs were net sellers to the tune of USD 156.7 million in equity on November 17, 2008.

  • Jobs won't be affected if economy grows at 7%: Montek Singh

    18th November, 2008 18:17

    Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission, said if the economy, including agriculture, grows at 7%, the total number of jobs will not get

  • See crude downside around $52-49.9/bbl: Ram Pitre 

    18th November, 2008 17:33

    Commoditiy expert Ram Pitre sees downside for crude around USD 52-49.9 per barrel. "On the upside, around USD 55-58 per barrel level is where one can go short with

  • Lokesh Chandra awarded with Dayawati Modi Award

    18th November, 2008 17:27

    Prof Lokesh Chandra conferred this year’s Dayawati Modi Award for art, culture and education. The award comprising a cash prize of Rs. 2.51 lakh, a silver shield a

  • Rupee ends lower, bonds higher

    18th November, 2008 17:07

    The spot rupee ended lower at Rs 49.65 per USD as against its previous close of Rs 49.37. The widely traded 8.24%, 2018 paper closed higher at Rs 105.22 as against

  • Economic slowdown, high oil prices hit captive power units 

    18th November, 2008 16:48

    The ongoing cash-crunch is not only hurting companies that produce power, it's also taking the zing out of captive power generators. Many captive power units have

  • Investors can buy around 8500 levels: Dipan Mehta 

    18th November, 2008 16:34

    Dipan Mehta, Member, BSE and NSE, said 8,000-8,500 have been good levels in the past because of aggressive buying coming in from domestic insurance companies. “Bas

  • Shemaroo licenses Studio Canal classics

    18th November, 2008 16:31

    Shemaroo licenses Studio Canal classics for Indian sub-continent. Some of the major titles Shemaroo has licensed are ‘Rambo Triology’, ‘Basic Instinct’, ‘Terminato

  • Experts see 808 an important level for S&P 500 

    18th November, 2008 16:25

    It will be technically important day in US markets beacause everyone is watching out S&P 500 index' October 27 low. If US indices breaks thoses lows then they may

  • SBI a relative outperformer: Bhambwani 

    18th November, 2008 16:16

    Technical Analyst, Vijay Bhambwani is of the view that SBI is a relative outperformer in banking space and it is showing a higher degree of relative strength.

  • Morgan Stanley appoints Naresh Naik as Executive Director

    18th November, 2008 16:07

    India Head of Asset Management named for Morgan Stanley Real Estate. Morgan Stanley (NYSE: MS) today announced the appointment of Naresh Naik as an Executive Direc

  • Avoid TTML: R Jain 

    18th November, 2008 16:02

    Rajesh Jain of Pranav Securities is of the view that one should ignore TTML at current level.

  • The Road Ahead

    18th November, 2008 15:42

    India can gain a bigger global role only by managing its economy well, not by engaging in delusions of grandeur.

  • Sensex ends sub 9K; Metal, TECK, power, IT, bankex dip 4-5%

    18th November, 2008 15:32

    Negative sentiment in global indices and fall in heavyweights weighed on the markets. The Nifty and Sensex struggled at the psychological mark of 2,700 and 9,000,

  • Maruti Suzuki gears down

    18th November, 2008 15:26

    Maruti Suzuki India had touched an intra day high of Rs 552.00 and an intra day low of Rs 512.50. At 3:15 pm, the share was quoting at Rs 514.90, down Rs 34.9, or

  • Sun TV continues to slide

    18th November, 2008 15:23

    Sun TV Network had touched an intraday high of Rs 153.50 and an intraday low of Rs 141.90. At 3:12 pm, the share was quoting at Rs 143, down Rs 15.65, or 9.86%. It

  • Reliance has support at Rs 1020-1040: Bhambwani 

    18th November, 2008 15:15

    Technical Analyst, Vijay Bhambwani is of the view that Reliance Industries has short term support at Rs 1020-1040.

  • Asian markets end lower

    18th November, 2008 15:10

    Asian markets ended lower. China's Shanghai Composite tumbled 6.31% or 128.055 points at 1,902.43. Hong Kong's Hang Seng plunged 4.54% or 613.64 points at 12,915.8

  • Dawnay Day +ve on banking in long-term  

    18th November, 2008 15:04

    Sheshadri Bharatan, Dawnay Day AV Financial Services said markets are in a downward trend. For a longer-term view according to him, banks which have very higher Cu

  • Repricing ESOPs to aid dilution for India Infoline 

    18th November, 2008 15:00

    India Infoline has cancelled warrants issued to its promoters and key employees. While the management says that there will be no further equity dilution analysts b

  • KLG Systel has target of Rs 123: ICICIdirect.com

    18th November, 2008 14:57

    According to ICICIdirect.com, KLG Systel has a target of Rs 123. The PAT saw a de-growth of 31.2% (Y-o-Y) at a level of Rs 8.64 crore.

  • See more instances like Citigroup on the anvil: JCF 

    18th November, 2008 14:56

    Bobby Rakhit, Managing Director, FactSet Europe (JCF) said that post positive news that came of the G-20 meet, the markets could see some slight recovery over the

  • Nifty futures adds about 26 lakh shrs in open interest

    18th November, 2008 14:42

    Volumes are higher than yesterday. Traded turnover is nearly Rs 35,000 crore. Nifty futures is trading at 10 points discount and added about 26 shares in open inte

  • Idea Cellular plunges 9.2%

    18th November, 2008 14:34

    Idea Cellular had touched an intraday high of Rs 48.90 and an intraday low of Rs 44.95. At 2:25 pm, the share was quoting at Rs 45.05, down Rs 4.6, or 9.26%. It wa

  • Mkts fall on fresh selling; all sectoral indices in red

    18th November, 2008 14:19

    The markets are witnessing fresh waves of selling again after showing a bit of recovery from the day's lows. Technology, banking, telecom, power, metal, and capita

  • Buy Aegis Logistics, target of Rs 96: KRChoksey

    18th November, 2008 14:15

    KRChoksey Research has recommended a buy rating on Aegis Logistics with a target of Rs 96. Net profit dipped 13.0% y-o-y to Rs 7.8 crore.

  • Eyeing investment by PE, hotel funds in new hotels: Unitech 

    18th November, 2008 14:13

    Commenting on reports about the possible sale of its hotel properties, Sanjay Chandra, Managing Director, Unitech, told CNBC-TV18 that it is in talks with a few pr

  • NTPC declines nearly 5%

    18th November, 2008 14:01

    NTPC had touched an intraday high of Rs 150.40 and an intraday low of Rs 142.15. At 1:51 pm. the share was quoting at Rs 143.80, down Rs 7.3, or 4.83%. It was t

  • Bearish on private banks, largecap IT: India Infoline 

    18th November, 2008 13:59

    Prashasta Seth, Senior Fund Manager, IIFL Wealth, India Infoline expects the market to retest its October lows. “There are a lot of concerns about the Q3 and Q4 nu

  • Tata Motors top gainer on the Nifty

    18th November, 2008 13:52

    Tata Motors is the top gainer on the Nifty. It had touched an intraday high of Rs 147 and an intraday low of Rs 135. At 1:51 pm, the share was quoting at Rs 144.75

  • PSU banking a safe bet: P Seth 

    18th November, 2008 13:48

    Prashasta Seth, Senior Fund Manager, IIFL Wealth, India Infoline feels that PSU banks are one of the safest bets in the market at this point of time. There is a lo

  • Expect more weakness in largecap IT stocks: P Seth 

    18th November, 2008 13:37

    Prashasta Seth, Senior Fund Manager, IIFL Wealth, India Infoline is of the view that one is going to see some more weakness in the largecap IT space. They are to a

  • Rolta India up on buying interest

    18th November, 2008 13:33

    Rolta India had touched an intraday high of Rs 184.80 and an intraday low of Rs 166.30. At 1:24 pm, the share was quoting at Rs 182.15, up Rs 6.80, or 3.88%. It wa

  • Concrete gain for India Cements

    18th November, 2008 13:29

    India Cements had touched an intraday high of Rs 87.85 and an intraday low of Rs 80.50. At 1:20 pm, the share was quoting at Rs 86.70, up Rs 3.75, or 4.52%. It was

  • HDFC loses further ground

    18th November, 2008 13:20

    HDFC had touched an intraday high of Rs 1,475 and an intraday low of Rs 1,405. At 1:11 pm, the share was quoting at Rs 1,419.70, down Rs 78.6, or 5.25%. It was tra

  • Nifty hovering @ 2700; NTPC, ONGC, Bharti, SBI, RIL dip

    18th November, 2008 13:00

    Markets are trading sharply lower, as sell-off in banking, technology, power, telecom, metal, capital goods and oil stocks led this fall. Midcap and small cap stoc

  • Kernex Micro loses further ground

    18th November, 2008 13:00

    Kernex Micro had touched an intraday high of Rs 79.90 and an intraday low of Rs 68.50. At 11:53 am, the share was quoting at Rs 69.50, down Rs 7.7, or 9.97%. It wa

  • Liquidity, not demand main concern: Realty experts 

    18th November, 2008 12:58

    Niranajan Hiranandani, M-D, Hiranandani Constructions said the real estate sector is facing liquidity crunch as banks are not dispersing credit to the sector. Whil

  • Buy Hindalco below Rs 45: Mansukh Securities

    18th November, 2008 12:44

    Mansukh Securities and Finance has recommended investors to buy Hindalco Industries below Rs 45 for a target of Rs 90. Aluminium prices have come down drastically

  • GVK Power to sell 25% in its energy arm; stock up

    18th November, 2008 12:38

    GVK Power & Infrastructure had touched an intraday high of Rs 15.55 and an intraday low of Rs 14.10. At 11:53 am, the share was quoting at Rs 15.27, up Rs 0.34, or

  • Lanco Infra adds 2.5 lakh shares in OI 

    18th November, 2008 12:32

    But there are some bit of shorts at higher levels and they seem to be getting covered every time we come to 2,700 odd levels which is why I am not seeing it going

  • Volume buzzers: Century Extru, Mysore Cem, Shasun Chem 

    18th November, 2008 12:28

    Sugar stocks are in focus today, especially UP sugar mills, ahead of allahabad court hearing on cane pricing. Airline stocks are trading weak. There are volume buz

  • HCL Technologies among major losers

    18th November, 2008 12:24

    HCL Technologies is among major losers on the Nifty. It had touched an intraday high of Rs 146.50 and an intraday low of Rs 135.60. At 12:23 pm, the share was quot

  • ACC slips on profit booking

    18th November, 2008 12:21

    ACC had touched an intraday high of Rs 430 and an intraday low of Rs 410.10. At 11:53 am, the share was quoting at Rs 410.10, down Rs 26.45, or 6.06%. It was trad

  • N Shah positive on banking space

    18th November, 2008 12:17

    Nishid Shah, President & CIO of IDFC Investment Advisors is positive on banking space. Majority of state owned banks are trading at either book value or below book

  • Infosys eyes $600-700mn acquisition; stock down

    18th November, 2008 12:11

    Infosys Technologies had touched an intraday high of Rs 1,232.80 and an intraday low of Rs 1,183.15. At 11:53 am, the share was quoting at Rs 1,185.55, down Rs 47.

  • SBI has support at Rs 966: HDFC Securities

    18th November, 2008 12:08

    According to HDFC Securities, State Bank of India (SBI) has support at Rs 966 and resistance at Rs 1414. The expected price range for 3 Months is Rs 1128-Rs 1279.

  • Stay invested in Apollo Hospitals: Baliga 

    18th November, 2008 11:59

    Ambareesh Baliga of Karvy Stock Broking is of the view that one should stay invested in Apollo Hospitals Enterprises and incase it comes down then one should be bu

  • Punj Lloyd takes further dip

    18th November, 2008 11:51

    Punj Lloyd had touched an intraday high of Rs 169 and an intraday low of Rs 161. At 11:42 am, the share was quoting at Rs 162.40, down Rs 7.9, or 4.64%. It was tra

  • Buy Pepper-Dec at around Rs 11630: India Infoline

    18th November, 2008 11:40

    India Infoline has recommended to buy Pepper-Dec at around Rs 11630 with a stoploss of Rs 11520 and target of Rs 11730, Rs 11859, Rs 11950.

  • BHEL bags order worth Rs 1325 cr; stock down

    18th November, 2008 11:38

    BHEL had touched an intraday high of Rs 1,289.90 and an intraday low of Rs 1,245. At 11:29 am, the share was quoting at Rs 1,259.10, down Rs 34.15, or 2.64%. The c

  • Sensex struggles @ 9K as Asian mkts extend losses

    18th November, 2008 11:36

    Relentless selling in banking, power, capital goods, technology, oil and telecom stocks is putting pressure on the benchmark indices. The Nifty is still holding 27

  • Power Grid Corp declines sharply

    18th November, 2008 11:30

    Power Grid Corporation of India had touched an intraday high of Rs 75 and an intraday low of Rs 71.10 At 11:20 am, the share was quoting at Rs 71.20, down Rs 4.4,

  • Sweet gain for Balrampur Chini Mills

    18th November, 2008 11:26

    Balrampur Chini Mills had touched an intraday high of Rs 41.20 and an intraday low of Rs 37. At 11:17 am, the share was quoting at Rs 40.25, up Rs 2.05, or 5.37%.

  • Banks should reduce rates by 300 bps: Rahul Bajaj

    18th November, 2008 11:22

    Rahul Bajaj, Chairman and Managing Director of Bajaj Auto Limited said the auto industry was functioning on a meager margin of 3-4%. He feels that the biggest prob

  • Sell Copper MCX 1st Month Future at Rs 182.3: Hem

    18th November, 2008 11:10

    Hem Securities has recommended to sell Copper MCX 1st Month Future at Rs 182.3 with a stoploss of Rs 186 and a target of Rs 177.

  • Block deal in EIH, stock up 16.4%

    18th November, 2008 10:55

    EIH was trading with volumes of 1,651,746 shares. There was a block deal of 13.23 lakh EIH shares on NSE at Rs 102.20 per share, reports CNBC-TV18. At 10:53 am, th

  • Wipro trips on selling pressure

    18th November, 2008 10:52

    Wipro had touched an intraday high of Rs 247 and an intraday low of Rs 239.90. At 10:42 am, the share was quoting at Rs 243, down Rs 8.95, or 3.55%. It was trading

  • Strike gold in times of financial crisis

    18th November, 2008 10:48

    There is gloom and depression all over; but these times provide some of the best opportunities to create wealth.

  • HDFC Secs bullish on HDFC BK, Axis bank 

    18th November, 2008 10:44

    Sanju Verma, ED, HDFC Securities, feels HDFC Bank and Axis Bank stand out in the private banks space because of their operational performance. However, she is disa

  • Reliance Capital an outperformer: ICICIdirect.com

    18th November, 2008 10:35

    ICICIdirect.com has rated Reliance Capital as an outperformer with a target price of Rs 748. The consolidated PAT was in line with expectations at Rs 2.3 billion.

  • Indian GDRs: Tata Motors up 7%, Mahindra slips 6%

    18th November, 2008 10:29

    Indian GDRs: Tata Motors was up 6.97% at USD 4.30, Ranbaxy gained 4.37% at USD 4.30, Sterlite rose 2.25% at USD 4.54 and L&T gained 1.57% at USD 16.20, while Mahin

  • Kotak Mahindra continues to fall

    18th November, 2008 10:18

    Kotak Mahindra Bank has continued to fall. It had touched an intraday high of Rs 337 and an intraday low of Rs 312.05. At 10:09 am, the share was quoting at Rs 321

  • Hindustan Zinc witnesses selling pressure

    18th November, 2008 10:16

    Hindustan Zinc had touched an intraday high of Rs 354 and an intraday low of Rs 343.10. At 10:06 am, the share was quoting at Rs 343.65, down Rs 21.35, or 5.85%. I

  • ICICI Bank plunges 5.5%

    18th November, 2008 10:04

    ICICI Bank had touched an intraday high of Rs 380 and an intraday low of Rs 361.50. At 10:03 am, the share was quoting at Rs 365, down Rs 21.45, or 5.55% on the NS

  • Unitech loses further ground

    18th November, 2008 10:01

    Unitech has continued to down. It had touched an intraday high of Rs 42 and an intraday low of Rs 38.40. At 10 am, the share was quoting at Rs 40.20, down Rs 2.55,

  • Buy NALCO November Futures above Rs 185: ICICIdirect.com

    18th November, 2008 10:00

    ICICIdirect.com has recommended to buy National Aluminium Company (NALCO) November Futures above Rs 185 with a stoploss of Rs 183 and target of Rs 189, Rs 192.

  • Lanco Infratech has support at Rs 83: Gujral 

    18th November, 2008 09:54

    Technical Analyst, Ashwani Gujral is of the view that Lanco Infratech is one of the weaker midcap infrastructure stocks; support now comes in at Rs 83 and resistan

  • Nifty has support at 2683/2525: Hem

    18th November, 2008 09:52

    According to Hem Securities' Morning Note, Nifty is having resistance at 2860/2960 while Support is at 2683/2525 levels.

  • US markets end lower

    18th November, 2008 09:48

    The Dow fell more than 2% on Monday, the Nasdaq followed it 2% lower on the day as well and it was financial stocks that created a lot of that pressure.

  • Markets may continue to see weakness: Mansukh Securities

    18th November, 2008 09:45

    According to Mansukh Securities and Finance's report, Indian markets may continue to see weakness in lines with global cues.

  • Markets likely to extend losses: Khandwala

    18th November, 2008 09:40

    According to Khandwala Securities' Market Preview report, the local stocks are likely to extend Monday's losses and retest lows before it gets any better. The disi

  • Nifty has support at 2750-2700: Karvy

    18th November, 2008 09:36

    According to Karvy Stock Broking's Technical Analysis report, the indices may find support around 9000-8700/2750-2700 levels for the day.

  • Sensex has support at 8957: Angel

    18th November, 2008 09:25

    According to Angel Broking's Technical Analysis report, on the downside, 8957/2694 levels may act as support for the day.

  • Sensex has support at 8947: SKP Securities

    18th November, 2008 09:18

    According to SKP Securities' Technical Analysis report, Nifty has its support at 2703 and resistance at 2980. Corresponding levels for sensex are 8947 and 9930.

  • Nifty 2800 Put sheds 5.1 lakh shrs in Open Interest 

    18th November, 2008 09:17

    FIIs were net buyers to the tune of Rs 45 crore in Nifty futures (Gross buy was at Rs 1,343 crore and gross sell at Rs 1,298 crore). Nifty November futures Open In

  • Change in circuit filters

    18th November, 2008 09:11

    The circuit filters has/have been changed from their existing levels in the below mentioned scrip/s with effect from November 18, 2008.

  • Expect another decline today: Mohoni

    18th November, 2008 09:05

    European markets declined last night, while the US indices fell quite heavily again. Asian markets are also down this morning and the global short-term trend is no

  • This week to decide near-term course of mkts 

    18th November, 2008 09:02

    According to Udayan Mukherjee, this week may be important as a decider for the near-term (direction) for the markets. The global markets may either bottom out and

  • Volatility will continue till expiry: Abhinay Jain 

    18th November, 2008 08:59

    Abhinay Jain expects 2700-2800 level on the Nifty to be the bottom for the market in this series, but there is huge selling pressure on the higher side. Volatility

  • Citibank to slash 50,000 more jobs globally 

    18th November, 2008 08:56

    Citibank is slashing 50,000 more jobs all over the world. Vikram Pandit, Citigroup Chief Executive made this announcement at a meeting of employees in London. Citi

  • Market likely to open weak: Ambareesh Baliga 

    18th November, 2008 08:51

    The market is likely to open weak and can drift close to October lows in the near-term. Selling pressure from FIIs may continue till December end, says Ambareesh B

  • 10-year yield seen between 7.55-7.60%: Ramkumar

    18th November, 2008 08:49

    The bonds are likely to be negative due to additional supply of Rs 15000 crore as a result of fresh government auctions. The 10-year yield is seen between 7.55-7.6

  • Allow foreign airways to buy into domestic players: Mallya

    18th November, 2008 08:43

    The Chairman of Kingfisher Airlines, Mr Vijay Mallya has “requested” the Government to allow foreign airlines to pick up a minority stake in domestic airlines.

  • Dip in oil asset prices may boost Indian OMCs

    18th November, 2008 08:40

    It’s a double whammy for international oil exploration companies, what with slipping crude oil prices and global financial crisis. But Indian upstream companies ca

  • Postpone purchases: Bhambwani

    18th November, 2008 08:39

    The outlook for the coming session is that of caution as the bulls are yet to overpower the bears. Till such bullish indications appear on the horizon, postpone pu

  • Pepper futures gain on buying support

    18th November, 2008 08:31

    Pepper futures market moved up on buying support and short supply on Monday.

  • Spot rubber declines further

    18th November, 2008 08:29

    Rubber prices moved down further on Monday. The market lost ground on buyer resistance amidst selling from dealers and growers. The sentiments were also hit by a w

  • Cardamom prices drop on heavy arrivals

    18th November, 2008 08:26

    Heavy arrivals at the auction held in Tamil Nadu and Kerala last week pushed down the cardamom prices with the average price dropping to Rs 500 a kg on Sunday from

  • Stocks in news: Unitech, GVK Power, UTV, Dunlop India

    18th November, 2008 08:22

    Stocks in news: Dunlop India shut shop and closed manufacturing unit in WB and Tamil Nadu. UTV will shut Delhi office and 60 employees will have to quit. GVK Power

  • Market cues: FIIs net sell $139.9 mn

    18th November, 2008 08:18

    Market cues: FIIs net sell USD 139.9 million. MFs net sell Rs 304.8 crore in equity on November 14.

  • Indian ADRs: Tata Motors, Sterlite up, Wipro down

    18th November, 2008 08:14

    Indian ADRs: Tata Motors, Sterlite, MTNL and Patni gained, while Wipro, Infosys, Tata Comm, HDFC Bank and Dr Reddys slipped.

  • Asian markets trading weak; Hang Seng down 2.2%

    18th November, 2008 08:05

    Asian markets were trading weak. Hong Kong's Hang Seng plunged 2.22% or 300.02 points at 13,229.51. Japan's Nikkei fell 0.96% or 82.17 points at 8,440.41. Singapor

  • MF NAVs end lower as mkts decline

    18th November, 2008 00:35

    Equity diversified NAVs closed the session with negative returns, as the markets ended marginally lower despite showing smart recovery in the last one hour of trad

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