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Moneycontrol News Archive : 15 April, 2009

  • Tussle with producers costs multiplexes Rs 24cr weekly 

    15th April, 2009 21:54

    It's been 10 days since the producer fraternity went on strike against the multiplexes. Only one hindi film released and theatres are now empty.

  • Satyam awaits CLB nod, proposes new board members 

    15th April, 2009 21:34

    Satyam today approached the Company Law Board (CLB) to validate its move of announcing Tech Mahindra as the winning bid. The company has also asked for a new board

  • Hero pulls out of Rs 4400cr Daimler JV 

    15th April, 2009 21:11

    Almost a year after Hero joined hands with Daimler to enter the commercial vehicle space, Hero Group wants out. Hero has pulled out of the Rs 4,400 crore joint ven

  • Leather, agriculture exports showing revival: Commerce Secy 

    15th April, 2009 20:13

    Commerce Secretary GK Pillai said he doesn’t expect big bang measures for exporters in next stimulus package by the government. Pillai believes in sectors like lea

  • Spice cries foul over Satyam-Tech Mah deal, to go to CLB 

    15th April, 2009 19:53

    Industrialist BK Modi’s Spice Group, which pulled out of the race to acquire scam-tainted Satyam Computer Services, plans to approach the Company Law Board over th

  • Buy SAIL on dips: Bonanza

    15th April, 2009 19:39

    Bonanza has recommended to buy Steel Authority of India on dips with a price target of Rs 125. In FY 09 the margins and bottom line are affected due to high price

  • Markets end higher: Nirmal Bang

    15th April, 2009 19:29

    According to Nirmal Bang's report, the BSE Sensex has touched an intraday high of 11,337 before closing the day at 11,284 up 318 points or 2.9%. The Nifty shut at

  • Accumulate Shree Renuka Sugars on declines: Bonanza

    15th April, 2009 19:19

    Bonanza has recommended to accumulate Shree Renuka Sugars on declines with a target price of Rs 130. Shree Renuka is among the largest sugar producers in India. It

  • DSP Black Rock buys banking, telecom, IT

    15th April, 2009 19:01

    DSP Black Rock Mutual Fund increased its exposure to sectors like Banking & Financial Services, Telecommunication and Information Technology. However, the fund hou

  • Container Corporation an underperformer: Karvy

    15th April, 2009 18:40

    Karvy Stock Broking has revised its rating on Container Corporation of India (Concor) from market performer to underperformer with a tgt price of Rs 706. Concor is

  • Kingfisher seeks 10 days more from oil mktg cos to pay dues

    15th April, 2009 18:18

    Kingfisher Airlines has sought a second extension of 10-days to payback its dues to the oil-marketing companies. It had missed the previous deadlines of March 31 a

  • Sugar price gains 20% YTD

    15th April, 2009 18:00

    Agro commodity prices have run up in 2009 Year till date on low crop output and weak carryover from the last year. Strong international commodity prices, Funds buy

  • Close to bankruptcy, GM may split into two: Experts 

    15th April, 2009 17:54

    What is reportedly also being discussed is breaking GM into good car company and a bad car company—a bit like the good bank, bad bank situation. Commenting on the

  • Expect cottonseed oil cake to test 559.50 & 546: Sharekhan

    15th April, 2009 17:46

    Sharekhan expects cottonseed oil cake to test 559.50 and 546 in the short term. Overall, traders can go short at the current levels placing reversal above 580 and

  • 'A' group stocks surge over 50% in last 15 days

    15th April, 2009 17:40

    The Indian equity markets have shown smart bounce back after long bear phase. In the last 15 trading session the Sensex and the Nifty gained 26% and 25% respective

  • March airlines load factor falls to 31.60L from 33.36L MoM

    15th April, 2009 17:19

    The total domestic passengers carried by scheduled airlines in March declined to 31.60 lakh from 33.36 lakh. The March domestic load factor for Air India stood at

  • KRChoksey positive on Fortis Healthcare

    15th April, 2009 17:13

    KRChoksey maintains its positive outlook on Fortis Healthcare for the long term basis. The aggressive growth plans of Fortis Healthcare to expand its geographical

  • Sun Pharmaceutical a marketperformer: Karvy Stock Broking

    15th April, 2009 17:00

    Karvy Stock Broking has rated Sun Pharmaceutical Industries as a marketperformer with a price target to Rs 1245. The research firm has reduced its FY 09E estimates

  • Aishwarya Rai tops Power List in India

    15th April, 2009 16:56

    Aishwarya Rai Bachchan is a woman of substance and there is surely no doubt about it. Recently a survey conducted by a popular research agency, Hansa Research reve

  • Skindia GDR Index down 0.44% to 1437.83

    15th April, 2009 16:48

    The Skindia GDR Index was down marginally 0.44% to 1437.83 at 3:30 pm IST over the previous day’s 3:30 pm IST Index. The Top DR losers were: Satyam (-11.11%), Ta

  • HDFC Bank an underperformer: Karvy Stock Broking

    15th April, 2009 16:37

    Karvy Stock Broking has rated HDFC Bank as an underperformer with a price target of Rs 903. In 4th QFY09, the research firm expects the bank to record 25% growth (

  • Buy Pantaloon Retail, target of Rs 239: Angel Broking

    15th April, 2009 16:25

    Angel Broking has maintained its buy rating on Pantaloon Retail with a price target of Rs 239. The research firm is positive on PRIL as it has been able to sustain

  • Expect Q1FY09 to be better than Q4FY08: Atul Ltd 

    15th April, 2009 16:19

    Sunil S Lalbhai, Managing Director and Chief Executive Officer of chemicals manufacturing company, Atul Ltd expects, the first quarter of FY09 to be better than th

  • V Chaturvedi positive on infrastructure space

    15th April, 2009 15:59

    Ved Prakash Chaturvedi, MD, Tata Mutual Fund is positive on infrastructure space.

  • Nifty breaks 200 DMA, may rally further 

    15th April, 2009 15:51

    In the morning global markets were down and Infosys was a disappointment from what the market was expecting. But the market breaking out of its 200 Day Moving Aver

  • Nifty ends above 200 DMA, turnover crosses Rs 1 lakh cr

    15th April, 2009 15:35

    Positive institutional flows and active participation from local retail players helped the benchmark indices to post strong performance in today's trade. The marke

  • Blue Dart Q1 net profit at Rs 11.7 cr

    15th April, 2009 15:17

    Blue Dart Express has announced its first quarter numbers. Its Q1 net profit went down at Rs 11.7 crore versus Rs 30.7 crore.

  • Instanex FII Index up 1.91%

    15th April, 2009 15:16

    At 3 pm, the Instanex Promoter 15 portfolio is up 2.62% (+3.19% at 2 pm), the Instanex Top 15 portfolio is up 2.24% (+2.68% at 2 pm) and the Instanex FII Index is

  • Hiring in March not as good as Feb: Info Edge 

    15th April, 2009 15:12

    Ambaresh Raghuvanshi of Info Edge, said there has not been much improvement in hiring in March. If anything, at the macro level, it will be either flat or marginal

  • Grasim Industries makes a smart gain

    15th April, 2009 15:07

    Grasim Industries had touched an intraday high of Rs 1,642 and an intraday low of Rs 1,535.10. At 3:03 pm, the share was quoting at Rs 1,618.90, up Rs 51.10, or 3.

  • Prism Cement announces result, stock up

    15th April, 2009 15:02

    Prism Cement has touched an intra day high of Rs 27.85 and an intra day low of Rs 25.55. At 2:59 pm, the share was quoting at Rs 26.75, up Rs 0.25, or 0.94%. It ha

  • Asian markets end mixed

    15th April, 2009 14:57

    Asian markets ended mixed. China's Shanghai Composite added 0.35% or 8.875 points at 2,536.056. Hong Kong's Hang Seng rose 0.57% or 89.46 points at 15,669.62. Howe

  • Instanex FII Index up 1.88%

    15th April, 2009 14:45

    At 2 pm, the Instanex Promoter 15 portfolio is up 3.19% (+2.26% at 1 pm), the Instanex Top 15 portfolio is up 2.68% (+1.55% at 1 pm) and the Instanex FII Index is

  • See FY10 EPS between Rs 96.65-101.18: Infosys

    15th April, 2009 14:43

    Infosys Technologies has announced its fourth quarter numbers. Its Q4 FY09 net profit dipped 1.7% at Rs 1,613 crore as against Rs 1,641 crore on quarter-on-quarter

  • ICICI Bank continues to rise

    15th April, 2009 14:40

    ICICI Bank has continued to rise. It had touched an intraday high of Rs 433.45 and an intraday low of Rs 401.10. At 2:37 pm, the share was quoting at Rs 433.05, up

  • SBI minting money

    15th April, 2009 14:36

    SBI has touched an intraday high of Rs 1,285 and an intraday low of Rs 1,175.55. At 2:33 pm, the share was quoting at Rs 1,284.55, up Rs 66.65, or 5.47%. It was tr

  • Jaiprakash Associates shoots up smartly

    15th April, 2009 14:30

    Jaiprakash Associates had touched an intraday high of Rs 125 and an intraday low of Rs 112.50. At 2:27 pm, the share was quoting at Rs 124.65, up Rs 7.05, or 5.99%

  • Block deal n HUL; stk up

    15th April, 2009 14:07

    HUL had touched an intra day high of Rs 233.25 and an intra day low of Rs 229. At 1:58 pm, the share was quoting at Rs 232.05, up Rs 2.20, or 0.96%. There was a bl

  • Garware Off surges 20% on bagging contract from ONGC

    15th April, 2009 14:00

    Garware Offshore has touched an intra day high of Rs 92.40 and an intra day low of Rs 76.15. At 2:02 pm, the share was quoting at Rs 92.40, up Rs 15.40, or 20%. Th

  • Nifty above 200 DMA; BSE Midcap, Smallcap indices up 4-5%

    15th April, 2009 13:57

    At 13:54 hours IST - the benchmark indices extended gains, as infrastructure, telecom, auto, metal, pharma, realty, select banking stocks as well as Reliance Indus

  • Positive on infra, power equipment plays: Dipan Mehta 

    15th April, 2009 13:41

    Dipan Mehta, Member, BSE and NSE, feels private sector banks, and some infrastructure and capital goods stocks look interesting. "From the capital goods space, tho

  • Kirloskar Oil Engines shoots up smartly

    15th April, 2009 13:37

    Kirloskar Oil Engines had touched an intraday high of Rs 65 and an intraday low of Rs 55. At 1:34 pm, the share was quoting at Rs 64, up Rs 7.45, or 13.17%. It was

  • Sintex India marches ahead

    15th April, 2009 13:30

    Sintex India had touched an intraday high of Rs 136.60 and an intraday low of Rs 122. At 1:27 pm, the share was quoting at Rs 136.60, up Rs 15.55, or 12.85%. It wa

  • Instanex FII Index up 0.29%

    15th April, 2009 13:23

    At 1 pm, Indian markets have turned stronger, the Instanex Promoter 15 portfolio is up 2.26% (+1.54% at 12 noon), the Instanex Top 15 portfolio is up 1.55% (+0.97%

  • HCC gains further ground

    15th April, 2009 13:19

    HCC had touched an intraday high of Rs 59.50 and an intraday low of Rs 51.10. At 1:12 pm, the share was quoting at Rs 58.80, up Rs 6.90, or 13.29%. It was trading

  • Mkts strong; realty, auto, capital goods up 3-4%

    15th April, 2009 13:09

    At 13.04 hrs IST, the markets were trading with good gains as realty, auto, metals, capital goods, pharma, power and oil & gas stocks witnessed buying interest. Ho

  • How do brokerages view Tech Mahindra, L&T post Satyam saga? 

    15th April, 2009 13:00

    Tech Mahindra won the bid for Satyam Computer Services. Several brokerage firms have rerated Tech Mahindra and L&T post Satyam saga. CLSA downgraded its rating on

  • Don't see retest of Oct '08, March lows: Quantum Sec 

    15th April, 2009 12:49

    Sanjay Dutt of Quantum Securities does not see markets going back to the lows which we saw in October 2008 and in February-March barring exceptional unforeseen eve

  • A Shah positive on Rolta 

    15th April, 2009 12:40

    Apurva Shah of Prabhudas Lilladher is positive on Rolta. Its revenues are not linked to what happens in the global IT spending environment. To that extent it is re

  • Book some profits in Tech Mahindra: A Shah 

    15th April, 2009 12:30

    Apurva Shah of Prabhudas Lilladher is of the view that Tech Mahindra has done very well over the last few weeks and at this point in time in my opinion there are s

  • Essar Oil flares up

    15th April, 2009 12:14

    Essar Oil had touched an intraday high of Rs 161.40 and an intraday low of Rs 130. At 12:11 pm, the share was quoting at Rs 155, up Rs 19.65, or 14.52%. It was tra

  • Punj Lloyd forges ahead

    15th April, 2009 12:02

    Punj Lloyd had touched an intraday high of Rs 126.20 and an intraday low of Rs 112. At 11:59 am, the share was quoting at Rs 124.55, up Rs 8.60, or 7.42%. It was t

  • Infy FY10 EPS outlook to decline if Re rises: Edelweiss Sec 

    15th April, 2009 11:56

    Viju George of Edelweiss Securities feels there is a downside risk to Infosys' FY10 EPS guidance in case the rupee were to appreciate further from here. "The guida

  • Satyam has support at Rs 40-44: Mathew 

    15th April, 2009 11:51

    Technical Analyst, E Mathew is of the view that Satyam Computer Services has strong support at Rs 40-44. But on the other hand, now the upside is also substantiall

  • HDFC Bank among major losers

    15th April, 2009 11:44

    HDFC Bank is among major losers on the Sensex. It has touched an intraday high of Rs 1,102.80 and an intraday low of Rs 1,049.50. At 11:40 am, the share was quotin

  • BHEL maintains its march ahead

    15th April, 2009 11:39

    BHEL had touched an intraday high of Rs 1,594 and an intraday low of Rs 1,500. At 11:36 am, the share was quoting at Rs 1,579.05, up Rs 53.80, or 3.53%. It was tra

  • Hindustan Motors continues to gain

    15th April, 2009 11:31

    Hindustan Motors has continued to gain. It had touched an intraday high of Rs 18.40 and an intraday low of Rs 15.90. At 11:28 am, the share was quoting at Rs 18.30

  • Infosys Tech has support at Rs 1320-1300: Mathew 

    15th April, 2009 11:24

    Technical Analyst, E Mathew is of the view that Infosys Technologies has support at Rs 1320-1300. The first target is round about Rs 1440 and if it rallies beyond

  • Idea Cellular among major gainers

    15th April, 2009 11:15

    Idea Cellular is among major gainers on the Nifty. It has touched an intraday high of Rs 57.95 and an intraday low of Rs 54.15. At 11:15 am, the share was quoting

  • Larsen surges on inking MoU with Atomstroyexport

    15th April, 2009 11:09

    Larsen and Toubro had touched an intra day high of Rs 842.90 and an intra day low of Rs 798.05. At 11:05 am, the share was quoting at Rs 841.20, up Rs 17.20, or 2.

  • Electrotherm defers plan to demerge engineering biz; stk up

    15th April, 2009 11:00

    Electrotherm had touched an intraday high of Rs 153.55 and an intraday low of Rs 143.05. At 11:03 am, the share was quoting at Rs 146.00, up Rs 6.40, or 4.58%. The

  • Bhushan Steel, Sumitomo plans $3.5bn steel plant; stk up

    15th April, 2009 10:54

    Bhushan Steel had touched an intraday high of Rs 441.70 and an intraday low of Rs 422.95. At 10:50 am, the share was quoting at Rs 433.70, up Rs 13.40, or 3.19%. T

  • Mkt unlikely to breakout now: Sudarshan Sukhani 

    15th April, 2009 10:51

    Sudarshan Sukhani of Technical Trends sees very strong resistance between 3,400 and 3,500. He feels the consolidation, dip scenario is likely to pan out. However,

  • Infosys has support at Rs 1300: Sukhani 

    15th April, 2009 10:47

    Technical Analyst, Sudarshan Sukhani is of the view that Infosys Technologies has support at Rs 1300.

  • Instanex FII Index down 1.49%

    15th April, 2009 10:45

    At 10 am, the Instanex FII Index is down 1.49% at 236.98 and the Instanex Retail 15 portfolio is down 1.14%. Sensex is down 1.38% and Nifty is down 1.32%.

  • Buy sugar stocks on dip: Sukhani 

    15th April, 2009 10:40

    Technical Analyst, Sudarshan Sukhani is of the view that one can buy sugar stocks on dip.

  • Bank of Baroda cuts deposit rates by 50 bps; stk gains

    15th April, 2009 10:34

    Bank of Baroda has touched an intraday high of Rs 275.45 and an intraday low of Rs 255. At 10:30 am, the share was quoting at Rs 274.40, up Rs 3.65, or 1.35%. The

  • Ambuja Cements among major gainers

    15th April, 2009 10:32

    Ambuja Cements is among major gainers on the Nifty. It had touched an intraday high of Rs 81.35 and an intraday low of Rs 77.25. At 10:34 am, the share was quoting

  • Pantaloon approves issue of 1.1cr shrs to promoters; stk up

    15th April, 2009 10:25

    Pantaloon Retail had touched an intraday high of Rs 191 and an intraday low of Rs 184.25. At 10:22 am, the share was quoting at Rs 186.45, up Rs 1.75, or 0.95%. Th

  • Experts see Infy's FY10 EPS outlook falling if eco worsens

    15th April, 2009 10:21

    Sanjeev Prasad, Kotak Institutional Equities said Infosys' FY10 EPS guidance is on the lower side and is marginally disappointing. Nilesh Shah of Envision Capital

  • Cos not keen on conversion of pref warrants: Analysis 

    15th April, 2009 10:19

    Companies are not keen on converting preferential warrants to equity anymore as the Sensex has been down 58% in 2008 and warrants are trading at a high premium to

  • Lanco Infratech advances 8.3%

    15th April, 2009 10:16

    Lanco Infratech had touched an intraday high of Rs 208.70 and an intraday low of Rs 185. At 10:13 am, the share was quoting at Rs 204.20, up Rs 15.65, or 8.30%. It

  • Sell Rapeseed NCDEX 2nd Month Future at Rs 511.45: Hem

    15th April, 2009 10:11

    Hem Securities has recommended to sell Rapeseed NCDEX 2nd Month Future at Rs 511.45 with stoploss of Rs 521 and target of Rs 498.

  • Infy's FY10 EPS outlook on lower side: Kotak Institutional 

    15th April, 2009 10:07

    Sanjeev Prasad, ED and Co Head, Kotak Institutional Equities, said Infosys' FY10 EPS guidance is on the lower side and is marginally disappointing. He feels the st

  • Wipro plunges 5.5%

    15th April, 2009 10:07

    Wipro had touched an intraday high of Rs 268.40 and an intraday low of Rs 250. At 10:04 am, the share was quoting at Rs 254.15, down Rs 14.85, or 5.52%. It was tra

  • See Infy stock in Rs 1100-1300 band ahead: Nilesh Shah 

    15th April, 2009 10:04

    Nilesh Shah of Envision Capital said the first two quarters of FY10 will be tough. He feels global economic pain will continue and then the company's guidance will

  • Satyam files application to delist ADS; stk down

    15th April, 2009 10:02

    Satyam Computer Services had touched an intraday high of Rs 48 and an intraday low of Rs 46. At 09:59 am, the share was quoting at Rs 47.20, down Rs 1.65, or 3.38%

  • Infosys dips 6.3% on poor Q4 numbers

    15th April, 2009 09:56

    Infosys had touched an intraday high of Rs 1,348 and an intraday low of Rs 1,300.15. At 09:57 am, the share was quoting at Rs 1,320, down Rs 89.3, or 6.34% on the

  • Indian GDRs: Satyam plunges 11%, Gail slips 5.6%

    15th April, 2009 09:53

    Indian GDRs: Satyam, Gail, ICICI Bank, Tata Motors, Sterlite, Dr Reddys, Grasim and Infosys plunged, while SBI, Tata Comm, Ranbaxy and L&T gained.

  • Mkts slip on weak Asian cues, disappointing Infy guidance

    15th April, 2009 09:51

    The markets opened sharply lower on the back of weak global cues and disappointing guidance from IT bellwether Infosys. Metal, technology, financial and realty sto

  • Who is likely to head India’s top two general insurers? 

    15th April, 2009 09:49

    It's time for a change of guard at India's top two general insurers - National Insurance Company and New India Assurance. The heads of both these companies are set

  • Nifty may correct up to 3339: Angel

    15th April, 2009 09:39

    According to Angel Broking's Market Outlook report, if NIFTY trades below 3378 for the first half-an-hour of trade then it may correct up to 3339.

  • Re may trade between 59.60-50.10 in near term: IndusInd Bk

    15th April, 2009 09:33

    According to Mr. J. Moses Harding, Head Global Markets Group, IndusInd Bank, as rupee and Sensex is trading close to crucial levels of 49.80 and 11000, break of 11

  • Nifty has support at 3330-3340: Reliance Money

    15th April, 2009 09:25

    According to Reliance Money's Morning Notes, as for intraday trades, support exist around levels of 3330-3340 range on lower side with strong hurdle placed around

  • Nifty has resistance at 3400-3450: FinQuest Securities

    15th April, 2009 09:16

    According to FinQuest Securities' report, 3400-3450 is crucial resistance zone.

  • Infosys Q4 net profit down 1.7% at Rs 1,613 cr

    15th April, 2009 09:14

    Infosys Technologies has announced its fourth quarter numbers. Its net profit for the quarter ended March 2009 went down by 1.7% at Rs 1,613 crore as against Rs 1,

  • US markets finish lower 

    15th April, 2009 09:11

    Stocks trading in negative territory on Wall Street, with all the major averages finishing lower. The Dow finishing 138 points down, the Nasdaq drops 28 points and

  • Expect stocks to fall today: Mohoni

    15th April, 2009 09:05

    European indices made moderate gains last night, while the US markets fell quite sharply. Asian markets are down fairly heavily this morning, and the global short-

  • Rupee opens at Rs 49.99 per dollar

    15th April, 2009 09:01

    The Indian Rupee opened at Rs 49.99 per dollar versus Rs 49.89 Monday.

  • US economy showing signs of recovery: Barack Obama 

    15th April, 2009 08:58

    US President Barack Obama speaking on the state of the economy said times are still tough. However, he added that for the first time there are glimmers of hope.

  • Allahabad Bank targets 21% growth in biz

    15th April, 2009 08:48

    Allahabad Bank targets 20-21 per cent growth in deposits and advances in 2009-10. The bank hopes to achieve business of Rs 1.75 lakh crore by March 2010 and Rs 2 l

  • IT-BPO headcount may stay nearly constant in this fiscal

    15th April, 2009 08:46

    The overall manpower strength of the Indian IT and BPO industry for FY10 could remain “nearly constant” or be a shade lower than 2.23 million estimated for FY09, a

  • Fund Action witnessed in Bajaj Hindusthan, HDIL, Rolta

    15th April, 2009 08:40

    Fund Action witnessed in Bajaj Hindusthan, HDIL, Rolta, IRB Infra, Temptation Foods, Walchandnagar, Alchemist , Ador Welding and TRF.

  • F&O cues: Futures Open Int up by Rs 994 cr

    15th April, 2009 08:38

    F&O cues: Nifty Futures add 3.7 lakh shares in Open Int, at 8-pt premium. Futures Open Int up by Rs 994 crore, Options Open Int up by Rs 1,123 crore.

  • Crude trading below $50/bbl; demand seen falling 

    15th April, 2009 08:37

    Crude continued below the USD 50 a barrel mark on forecasts for softer 2009 global petroleum demand and expectation of a weekly build up on US crude supplies.

  • Market cues: FIIs net buy $22.5 mn

    15th April, 2009 08:35

    Market cues: FIIs net buy USD 22.5 milion and MFs net buy Rs 360 crore in equity on April 9.

  • Copper up 3% at $4699/t, LME supplies decline 8% in Mar 

    15th April, 2009 08:27

    Copper was trading off 6-month highs on weak US data. Copper was up 3% at $4699/tonne and LME supplies declined 8% in March.

  • Support for Nifty at 3335: Gaba

    15th April, 2009 08:24

    The support for the Sensex is 10800 and the resistance to the up move is at 11113-11295. The support for the Nifty is at 3335 and the resistance to the up move is

  • Tech Mahindra's Satyam buy won't lead to large layoffs 

    15th April, 2009 08:20

    Tech Mahindra's acquisition of Satyam may not necessarily lead to large-scale lay-offs at the fraud-hit company. CNBC-TV18's Kenan Machado finds out why.

  • US financial Index end 7.5% lower, metal stocks surge 

    15th April, 2009 08:18

    The US markets ended lower as retail sales unexpectedly fell, financials lost ground on fear of equity dilution. However, metal stocks surged. US Financial Index e

  • Asia trading lower; Hang Seng, Nikkei down

    15th April, 2009 08:08

    At 8:06 am (IST), Asian markets were trading lower. China's Shanghai Composite fell 0.34% or 8.50 points at 2,518.68. Hong Kong's Hang Seng shed 1.87% or 290.68 po

  • Wall Street slides led by financials; Dow slips 137 pts

    15th April, 2009 08:00

    The Wall Street slid led by financials on Goldman Sachs plans to issue $ 5 billion common equity; Citi soars on expectation of strong numbers while Intel slide

  • Govt to offer deals worth $1bn to IT cos soon 

    15th April, 2009 21:45

    The global deal pipeline for IT companies may be drying up but domestic deals particularly from the government may be an attractive avenue for growth. CNBC-TV18’s

  • Infosys fails to realize USD 5bn revenue dream  

    15th April, 2009 21:23

    In its annual guidance a year ago, Infosys said revenues would cross USD 5 billion. But much to the disappointment of investors, the company has only managed USD 4

  • In changing times, 200 not 272 key poll mark: Sardesai 

    15th April, 2009 20:30

    As polling kicks off from April 16, the election fervour has reached a crescendo. Rajdeep Sardesai, Editor-in-Chief, CNN IBN, says both the major alliances, the ru

  • FIIs net buy of Rs 641 cr in equities on April 13

    15th April, 2009 20:07

    On April 13, Foreign Institutional Investors (FIIs) were net buyers to the tune of Rs 641 crore in equities. They have made gross purchase of Rs 2058 crore and gro

  • Reduce Tech Mahindra, target of Rs 345: IIFL

    15th April, 2009 19:52

    IIFL has recommended a reduce rating on Tech Mahindra with a target price of Rs 345. Tech Mahindra emerged as the highest bidder for Satyam. It would now have to p

  • Carrefour to open cash & carry biz in India by early 2010

    15th April, 2009 19:31

    The world's second largest retailer Carrefour is entering the Indian cash-and-carry business with a 5,000 sqare metre (sq mt) outlet in the National Capital Region

  • Nifty above 200 DMA: Experts say upmove to continue

    15th April, 2009 19:28

    “The Nifty crossing the 200 DMA means there will be less selling pressure in the market,” says Ashwani Gujral. He advises to buy on every dip. He also advises to b

  • Nifty above 200 DMA may spark another breakout 

    15th April, 2009 19:11

    The Nifty had a spectacular rally to take out its 200-day moving average (DMA) and closes virtually at 3,500 probably sparking another breakout.

  • US markets trading mixed; Dow up 16 points

    15th April, 2009 19:00

    At 20.05 hrs (IST)- The US markets were trading mixed after weak start. The Dow Jones Industrial Average was up 16.33 points, or 0.21%, to 7,936.51. The Nasdaq was

  • Rupee has support at 49.30-49.45/$: Commtrendz

    15th April, 2009 18:25

    According to Commtrendz Research's report on Indian Rupee, immediate supports are at 49.30-49.45 followed by 48.8-448.9. Immediate resistance falls around 49.9-50

  • Indoco Remedies an outperformer: Karvy Stock Broking

    15th April, 2009 18:13

    Karvy Stock Broking has downgraded its rating on Indoco Remedies to outperformer with a target price of Rs 170. Revenues for the quarter are expected to be down by

  • Gold has support at Rs 14250 & 14180: Anagram

    15th April, 2009 17:58

    According to Anagram Research's Commodity Daily Report, gold has support at Rs 14250 and Rs 14180 and resistance at Rs 14380 and 14450.

  • Crude to face resistance at $55/bbl

    15th April, 2009 17:48

    Crude oil continues to face resistance at $55 a barrel . The fundamentals are not supportive of a rally in prices, but even as US inventories are at 16 year hi

  • See gold consolidating between $865-885/oz: Sushil Comm 

    15th April, 2009 17:41

    Saravanan K, Research Analyst, Sushil Global Commodities, said gold seems to be consolidating between USD 865 per ounce on the extreme end and on the shorter-term

  • Sharekhan bullish on jeera

    15th April, 2009 17:38

    Sharekhan has maintained its bullish bias on jeera in the medium term. Jeera at Unjha market quoted around Rs 2,280/20kg, while arrivals of around 20,000 bags were

  • Rupee, bonds end higher

    15th April, 2009 17:15

    The Indian rupee ended higher as banks sold dollars for FIIs. Exporter dollar sales also aided rupee to rise. But, dollar demand from importers limited gains. The

  • The AS-11 puzzle: How cos gain by non-implementation 

    15th April, 2009 17:12

    One out of every five companies in the BSE 500 have reported MTM or mark-to-market losses. Many companies don’t really need to take a loss on something that they w

  • Instanex FII Index up 2.84%

    15th April, 2009 16:57

    At close, the Instanex Promoter 15 portfolio was up 3.18% (+2.62% at 3 pm), the Instanex Top 15 portfolio was up 2.91% (+2.24% at 3 pm) and the Instanex FII Index

  • Buy Axis Bank, target of Rs 630: Karvy

    15th April, 2009 16:49

    Karvy Stock Broking has recommended a buy rating on Axis Bank with a price target of Rs 630. In 4th QFY09, the research firm expects the bank to report 27% growth

  • Rally strong but this isn't long-term turnaround: Tata MF 

    15th April, 2009 16:42

    Ved Prakash Chaturvedi of Tata MF said the current rally could have more legs if the market is reading the political situation correctly. However, he added, the fa

  • UTI Balanced Fund declares 8.5% dividend

    15th April, 2009 16:37

    UTI Balanced Fund has declared a dividend of 8.5%, for which the record date is April 16, 2009.

  • Punj Lloyd can add Rs 15-25: Bhambwani

    15th April, 2009 16:22

    Technical Analyst, Vijay Bhambwani is of the view that Punj Lloyd can add Rs 15-25 in the coming 3-4 trading sessions.

  • Unitech adds 1.5 cr shares in open interest 

    15th April, 2009 16:15

    One of the highest turnovers in recent times is more than 40% jump in turnover of what the markets saw on Monday. Unitech added about nearly 1.5 crore shares in OI

  • UBS likely to post Q1 loss of $1.7 bn 

    15th April, 2009 15:53

    The report suggests that the UBS will be posting Q1 loss of USD 1.7 billion and will be cutting additional 8,700 jobs. Important data points to watch out from the

  • Positive on Infy in long-term: Angel Broking 

    15th April, 2009 15:46

    Commenting on the numbers, Harit Shah of Angel Broking said the environment continues to remain quite difficult for Infosys and for the entire sector. “In the shor

  • Suzlon Energy moves further

    15th April, 2009 15:20

    Suzlon Energy had touched an intraday high of Rs 69 and an intraday low of Rs 60.10. At 3:11 pm, the share was quoting at Rs 67.80, up Rs 3.65, or 5.69%. It was tr

  • Buy Torrent Pharma, target of Rs 200: Karvy

    15th April, 2009 15:16

    Karvy Stock Broking has maintained its buy rating on Torrent Pharmaceuticals with a price target of Rs 200. The research firm maintains net revenues to grow at a

  • Vodafone outscores Bharti, adds 2.85mn subscribers in March 

    15th April, 2009 15:16

    The Vodafone subscriber addition numbers are now beating that of Bharti Airtel. Bharti added about 2.81 million subscribers in the month of March, while Vodafone a

  • Everonn Systems continues to gain

    15th April, 2009 15:09

    Everonn Systems India had touched an intraday high of Rs 194.45 and an intraday low of Rs 163.55. At 3:05 pm, the share was quoting at Rs 185.85, up Rs 18.45, or 1

  • Nifty above 200 DMA; Realty Index up 8%, Cap Goods gains 5%

    15th April, 2009 15:04

    At 3:01 hours IST - the markets were trading sharply higher on the back of upsurge in cement, realty, infrastructure, auto, metal, pharma, select banking stocks as

  • Buy ITC, target of Rs 206: Sharekhan

    15th April, 2009 14:58

    Sharekhan has maintained its buy rating on ITC with a price target of Rs 206. The research firm expects ITC’s cigarette realisation to rise by 5-6% in FY2010 as a

  • Concrete gain for ACC

    15th April, 2009 14:52

    ACC had touched an intraday high of Rs 617.70 and an intraday low of Rs 583.10. At 2:53 pm, the share was quoting at Rs 610.70, up Rs 19.50, or 3.30%. It was tradi

  • Realty index surges 9%; Ansal Properties, DLF gain

    15th April, 2009 14:43

    The markets recovered sharply during the second half of the trade after a weak opening. At 2.43 pm, the Nifty was trading above its 200 DMA at 3450. Strong buying

  • Buy Colgate, target of Rs 570: Hem Securities

    15th April, 2009 14:40

    Hem Securities has recommended a buy rating on Colgate Palmolive (India) with target price of Rs 570. Colgate Palmolive India is a market leader in Oral Care segme

  • Unitech adds 1 cr shares in open interest 

    15th April, 2009 14:38

    Unitech added about 1 crore shares in open interest, OI with a turnover of Rs 370 crore. Total open interest stood at Rs 8 crore. DLF was another stock that added

  • Sun Pharma gains 5%

    15th April, 2009 14:32

    Sun Pharmaceutical Industries had touched an intraday high of Rs 1,209.90 and an intraday low of Rs 1,145. At 2:28 pm, the share was quoting at Rs 1,206.00, up Rs

  • DLF maintains its march ahead

    15th April, 2009 14:24

    DLF had touched an intraday high of Rs 264.50 and an intraday low of Rs 224. At 2:20 pm, the share was quoting at Rs 261.25, up Rs 27.80, or 11.91%. It was trading

  • ICSA India continues to gain

    15th April, 2009 14:00

    ICSA had touched an intraday high of Rs 125.80 and an intraday low of Rs 104. At 1:56 pm, the share was quoting at Rs 123.90, up Rs 17.75, or 16.72%. It was tradin

  • Ispat adds 27 lakh shares in open interest 

    15th April, 2009 14:00

    Since expiry the stock futures have added nearly 30-32 crore shares. The total turnover was around Rs 57,000 crore and F&O turnover is Rs 40,000 crore. Ispat added

  • Crude has resistance at USD 53/bbl 

    15th April, 2009 13:43

    Crude is trading below USD 50 per barrel in the Asian and European markets. USD 47 per barrel continues to be a support on the higher side and USD 53 per barrel is

  • EBITDA margins for Infosys at 33.6%: CNBC-TV18 analysis 

    15th April, 2009 13:40

    It’s a whole mixed bag of numbers from Infosys, a lot of disappointments and a little bit of green spots. CNBC-TV18's Raja Rajeshwari feels EBITDA margins stands a

  • Dena Bank minting money

    15th April, 2009 13:34

    Dena Bank had touched an intraday high of Rs 42.25 and an intraday low of Rs 36.55. At 1:30 pm, the share was quoting at Rs 42, up Rs 4.65, or 12.45%. It was tradi

  • Hold Larsen & Toubro: Sharekhan

    15th April, 2009 13:30

    Sharekhan has maintained its hold rating on Larsen & Toubro. Larsen & Toubro (L&T) has lost the bid for the troubled software company, Satyam Computer Services (Sa

  • Dishman Pharmaceuticals soars high

    15th April, 2009 13:22

    Dishman Pharma has touched an intraday high of Rs 119.90 and an intraday low of Rs 104. At 1:19 pm, the share was quoting at Rs 118.20, up Rs 14, or 13.44%. It was

  • Tech Mahindra has support at Rs 318-320: Mathew 

    15th April, 2009 13:16

    Technical Analyst, E Mathew is not too bullish on Tech Mahindra. There is minor support at around Rs 340 and major support at Rs 318-320. On the upside it has got

  • INOX Leisure up on buying interest

    15th April, 2009 13:01

    INOX Leisure had touched an intraday high of Rs 39.25 and an intraday low of Rs 32.50. At 12:58 pm, the share was quoting at Rs 37.30, up Rs 4.25, or 12.86%. It wa

  • European markets trading lower; CAC, DAX down

    15th April, 2009 12:52

    At 12:50 pm (IST), European markets were trading lower. CAC 40 was down 0.92% or 27.69 points at 2,972.53. DAX slipped 1.29% or 58.93 points at 4,498.08. FTSE 100

  • Instanex FII Index down 0.30%

    15th April, 2009 12:44

    At 12 noon, the Instanex Promoter 15 portfolio is up 1.54% (+1.43% at 11 am), the Instanex Top 15 portfolio is unchanged, up 0.97% while the Instanex FII Index is

  • Deccan Chronicle puts on a good show

    15th April, 2009 12:40

    Deccan Chronicle Holdings had touched an intraday high of Rs 65.45 and an intraday low of Rs 54. At 12:37 pm, the share was quoting at Rs 63, up Rs 8.05, or 14.65%

  • Block deal strengthens Hindalco Industries

    15th April, 2009 12:18

    Hindalco Industries had touched an intraday high of Rs 61.40 and an intraday low of Rs 57.75. At 12:19 pm, the share was quoting at Rs 61.30, up Rs 1.85, or 3.11%.

  • Mkts gain amid volatility; midcaps, smallcap outperform

    15th April, 2009 12:07

    At 12:04 hours IST, the markets were trading marginally higher amid volatility. Selling pressure was seen in shares of technology companies and in stocks like HDFC

  • Mahindra and Mahindra gushes forth

    15th April, 2009 11:59

    Mahindra and Mahindra had touched an intraday high of Rs 472 and an intraday low of Rs 442.25. At 11:54 am, the share was quoting at Rs 470, up Rs 20.10, or 4.47%.

  • Prism Cement 9-month net profit at Rs 90.59 cr

    15th April, 2009 11:52

    Prism Cement has announced its nine months numbers (Between July '08 and March '09). The company's net sales were at Rs 629.86 crore.

  • Instanex FII Index down 0.24%

    15th April, 2009 11:47

    At 11 am, the Instanex Promoter 15 portfolio is up 1.43% (-0.97% at 10 am), the Instanex Top 15 portfolio is up 0.97% (-1.11% at 10 am) while the Instanex FII Inde

  • Stay away from Infosys: A Shah 

    15th April, 2009 11:40

    Apurva Shah of Prabhudas Lilladher is of the view that one should stay away from Infosys Technologies for the year. It is going to be a flattish kind of growth. It

  • An insider's view into Tech Mahindra's Satyam campaign 

    15th April, 2009 11:38

    Tech Mahindra has emerged as the highest bidder for Satyam at Rs 58 per share. Falguni Nayar, Managing Director of shares details on the company's new acquisition.

  • Exports dip by 30% in March 

    15th April, 2009 11:25

    The latest figures from the Commerce Ministry show that the country's exports have dipped by about 30% in March. Given the fact that the two of the biggest markets

  • Ranbaxy Laboratories in good health

    15th April, 2009 11:18

    Ranbaxy Laboratories had touched an intraday high of Rs 195.90 and an intraday low of Rs 186. At 11:15 am, the share was quoting at Rs 195, up Rs 6.90, or 3.67%. I

  • HEG to consider buy back of FCCBs; stk down

    15th April, 2009 11:10

    HEG had touched an intraday high of Rs 125.90 and an intraday low of Rs 120.25. At 11:07 am, the share was quoting at Rs 121.90, down Rs 1.25, or 1.02%. The compan

  • Infosys net PAT was Rs 1613cr for qtr ended March 31, 2009

    15th April, 2009 11:01

    Infosys Net profit after tax was Rs 1,613 crore for the quarter ended March 31, 2009 (Indian GAAP)

  • Mkts bounce back; cap goods, auto, cement, SBI up

    15th April, 2009 10:55

    At 11:01 hours IST, the benchmark indices recovered from the lows of the day and started trading in a positive terrain. Buying in capital goods, cement, realty, te

  • Infosys revenues were $ 1121mn for qtr ended March 31, 2009

    15th April, 2009 10:53

    Infosys revenues were $ 1,121 million for the quarter ended March 31, 2009; YoY decline was 1.8%

  • Unitech makes smart gain

    15th April, 2009 10:51

    Unitech had touched an intraday high of Rs 43.65 and an intraday low of Rs 40.10. At 10:52 am, the share was quoting at Rs 43.05, up Rs 1.30, or 3.11%. It was trad

  • How to be a successful investor?

    15th April, 2009 10:46

    Want to reap the benefits of stock market investing? Make sure you are invested when the prices are at the bottom. This is easier said than done and can be achieve

  • Rel Comm buys back FCCBs; stk up

    15th April, 2009 10:43

    Reliance Communications had touched an intraday high of Rs 237.15 and an intraday low of Rs 213.25. At 10:39 am, the share was quoting at Rs 224.15, up Rs 4.95, or

  • Buy Gold June around Rs 14250: Bonanza

    15th April, 2009 10:35

    Bonanza has recommended to buy Gold June around at around Rs 14250 with stoploss below Rs 14180 and target of Rs 14365-14420.

  • Infy disappoints; guidance turns negative  

    15th April, 2009 10:32

    Commenting on the results, Infosys COO SD Shibulal said the pricing environment continues to be challenging. The company management added that the environment is c

  • Buy Jeera May around Rs 12750: Bonanza

    15th April, 2009 10:27

    Bonanza has recommended to buy Jeera May at around Rs 12750 with stoploss below Rs 11570 and target of Rs 12950-13050.

  • Sterlite Industries among major losers

    15th April, 2009 10:22

    Sterlite Industries is among major losers on the Sensex. It had touched an intraday high of Rs 417 and an intraday low of Rs 398.10. At 10:19 am, the share was quo

  • Nifty has support at 3270: Nirmal Bang

    15th April, 2009 10:19

    According to Nirmal Bang's report, the immediate intraday support is placed at 3,330 – 3,270, a fall below this can take Nifty to 3,155 in coming days.

  • Tata Motors buys back bonds worth $ 17mn; stk up

    15th April, 2009 10:18

    Tata Motors had touched an intraday high of Rs 260.80 and an intraday low of Rs 240.10. At 10:15 am, the share was quoting at Rs 258.80, up Rs 6.60, or 2.62%. The

  • GHCL buys back FCCBs worth $11 mn; stk up

    15th April, 2009 10:13

    GHCL had touched an intra day high of Rs 36.50 and an intra day low of Rs 34.40. At 10:09 am, the share was quoting at Rs 36.50, up Rs 1.50, or 4.29%. The company

  • Rolta maintains its march ahead

    15th April, 2009 10:09

    Rolta has continued to gain. It had touched an intraday high of Rs 121.85 and an intraday low of Rs 100.35. At 10:10 am, the share was quoting at Rs 120.25, up Rs

  • CMC flares up 26% on good Q4 numbers

    15th April, 2009 10:07

    CMC has touched an intraday high of Rs 494 and an intraday low of Rs 398. At 10:03 am the share was quoting at Rs 474.90, up Rs 96.80, or 25.60%. The company's Q4

  • TCS top loser on the Nifty

    15th April, 2009 10:05

    TCS is the top loser on the Nifty. It had touched an intraday high of Rs 571.40 and an intraday low of Rs 550.05. At 10:06 am, the share was quoting at Rs 556, dow

  • Sell USD April below 49.70: Bonanza

    15th April, 2009 10:02

    Bonanza has recommended to sell US dollar April below 49.70 with stoploss above 50.20 and target of 49.40-49.10.

  • Nifty has support at 3320: ICICIdirect.com

    15th April, 2009 09:58

    According to ICICIdirect.com's report, the Nifty has supports at 3340 and 3320 and resistances at 3420 and 3450.

  • Sensex has support at 10410: LKP Shares

    15th April, 2009 09:54

    According to LKP Shares' report, for BSE Sensex support is at 10820, 10655, 10520, 10410 and resistance is at 11100, 11220, 11375, 12160.

  • Degree of profit taking to determine course of mkts 

    15th April, 2009 09:52

    Global markets have had a great rally in the past few weeks but everybody is concerned if markets need to pause or correct a bit before any kind of resumption of t

  • CMC Q4 cons net profit at Rs 38.4 cr

    15th April, 2009 09:49

    CMC has declared its fourth quarter results. The company's Q4 consolidated net sales were at Rs 240.1 crore versus Rs 261 crore. Its Q4 consolidated operating prof

  • Sensex may test 10709-10620: Angel

    15th April, 2009 09:43

    According to Angel Broking's Technical Analysis report, if 10801 / 3334 is broken then indices may test 10709 - 10620 / 3300 - 3270 levels.

  • Ratan Tata to meet Pantnagar plant staff on April 16 

    15th April, 2009 09:36

    Tata Group Chairman Ratan Tata will make his first trip––after Nano production began––to the Pantnagar Plant in Uttarakhand, reports CNBC-TV18, quoting sources. Na

  • Stock futures add 1.8 cr shares in Open Interest

    15th April, 2009 09:31

    Stock futures added 1.8 crore shares in Open Interest. FIIs were net buyers to the tune of Rs 466 crore in Nifty futures, wherein Open Interest was up by 3,400 con

  • Port traffic improves in March, experts call it a blip 

    15th April, 2009 09:24

    Shipping companies and ports both were in the dock thanks to slowing business. Port traffic along with freight rates had fallen in the last few months. However, Ma

  • Satyam files application for delisting from NYSE Euronext

    15th April, 2009 09:15

    A day after Tech Mahindra won the race for Satyam, the fraud-hit tech major filed an application for delisting from NYSE Euronext––the regulated market of Euronext

  • Nifty may trade between 3270-3450: Karvy

    15th April, 2009 09:12

    According to Karvy Stock Broking's Technical Analysis report, the indices are expected to open on a flat note due to profit taking sessions in the global indices.

  • Bankers work out financial restructuring plan for Dabhol 

    15th April, 2009 09:07

    Bankers to the controversial Dabhol Power Plant are ready with a plan of action. They have chalked out a plan for restructuring the Rs 7,500 crore loan for the pow

  • 10-year yield seen between 6.60-6.80%: ING Vysya Bank

    15th April, 2009 09:02

    According to RK Gurumurthi, ING Vysya Bank, the bonds got sold off on Monday on profitbooking and rumours that the April Credit Policy will keep rates unchanged. C

  • Rupee may try to breach 49.80: Pinnacle Forex

    15th April, 2009 08:59

    According to N Subramaniam, Pinnacle Forex, the rupee may try to breach Rs 49.80 per dollar level with a target of Rs 49.30 per dollar. The dollar is under pressur

  • Vietnam pepper prices up a tad on regulated arrivals

    15th April, 2009 08:52

    Vietnam pepper market, which closely monitors and move according to the trend in the Indian futures market, has shown slight improvement on Tuesday on regulated ar

  • Polaris to focus on insurance sector

    15th April, 2009 08:47

    Polaris Software Lab plans to focus more on the insurance sector and intends to introduce new products and solutions for this vertical.

  • Maruti to roll out BS4 compliant models in a phased manner

    15th April, 2009 08:43

    Maruti Suzuki plans to roll out its Bharat Stage (BS 4) compliant models in a phased manner this year. The company said due to its vast product portfolio it may no

  • Mkts may see some profit booking: Edelweiss

    15th April, 2009 08:38

    Tushar Mahajan advises caution as we may see some profit booking. Volatility is likely to inch up further. Metal stocks may see profit booking.

  • Steel demand picks up, but prices to remain flat till Oct 

    15th April, 2009 08:37

    Steel demand is picking up but prices will still remain flat over the next 3-6 months, that's the view coming in from Assocham President Sajjan Jindal. He also exp

  • Infy nos likely to be in-line with expectations: Kotak PMS

    15th April, 2009 08:36

    Shashank Khade advises investors to be cautious at current levels. Infosys results are likely to be in-line with expectations and the stock is richly priced at 12

  • FIIs net buy Rs 581 cr in cash markets on Apr 13 (prov) 

    15th April, 2009 08:32

    The market should make some decisive moves based on the cues it gets. FIIs were net buyers to the tune of Rs 581 crore while DIIs net sold Rs 152 crore in the cash

  • Stocks in news: Sterlite, Satyam, Bharti, Pantaloon

    15th April, 2009 08:25

    Sterlite, Satyam, Idea, Bharti, Pantaloon Retail, Wockhardt, Bhushan Steel, Tata Motors, Britannia, Reliance Communications, GHCL, Electrotherm India and HEG are s

  • Nifty likely to witness range of 3450-3230: Bhambwani

    15th April, 2009 08:22

    The coming session is likely to witness a range of 3450 on advances above which the 3470 maybe likely, and 3230 on declines. The bullish pivot will be at the 3390

  • Expect flat to negative opening: Gujral

    15th April, 2009 08:19

    The market will have flat to negative opening on account of weak global cues. Supports are at 3300-3330 and resistances are at 3400-3450.

  • Indian ADRs: Satyam down 11%, Tata Motors slips 4.6%

    15th April, 2009 08:12

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

  • Grupo Mexico puts in $1.3 bn counter bid for ASARCO

    15th April, 2009 08:07

    The race for ASARCO is hotting up. Grupo Mexico has put in a USD 1.3 billion counter bid for the bankrupt US mining company - ASARCO. Details of the offer are expe

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