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Moneycontrol News Archive : 24 February, 2009

  • Mkts resilient ahead of F&O settlement, breadth weak 

    24th February, 2009 21:24

    It was a choppy start to the week on Dalal Street. The indices got off to a weak opening before recovering in late trade to close flat. The Nifty closed at 2,733 d

  • Ceat announces price cuts

    24th February, 2009 20:30

    Ceat Ltd has announced another round of reduction in the prices of its truck tyres, thus passing on to the customers the entire benefit of the 2% excise duty reduc

  • Experts cheer proposed Land Acquisition Bill 

    24th February, 2009 20:25

    The new Land Acquisition Bill cleared by the group of ministers is likely to be tabled in the Parliament tomorrow. The bill provides for rehabilitation before disp

  • India needs bigger, better stimulus plans: Experts 

    24th February, 2009 20:15

    Harsh Pati Singhania, President, FICCI and MD, JK Paper, said that government’s duty, tax cut is a step in the right direction but is not adequate because there is

  • Rupee has support at 49.50/49.60: Commtrendz Research

    24th February, 2009 19:53

    According to Commtrendz Research's report on Indian Rupee, Important supports now are at 49.50/49.60 followed by 49/49.10. Immediate resistance falls around 50/50.

  • Experts see monetary easing by RBI post fiscal stimulus 3.0 

    24th February, 2009 19:50

    Climbing down from the pedestal of constitutional propriety, the government has announced another stimulus to the economy. With the government announcing the third

  • Short-term upward momentum in gold to continue: Ventura Sec 

    24th February, 2009 19:32

    NS Ramaswamy, Head- Commodities, Ventura Securities is of the view that there is an opportunity to buy in gold because there is a big bullish candle that is being

  • Unsure of initial stimulus helping: Richard Burdekin 

    24th February, 2009 19:24

    Richard Burdekin, Professor of Economics at Claremont McKenna College, said the stimulus packages are not too effective and there is an increasing number of econom

  • Cement sector not much impacted by excise duty cut

    24th February, 2009 18:56

    The government today announced reduction of excise duties and service tax by 2% to boost the ailing economy. Excise duty on bulk cement is cut to 8% or Rs 230/tonn

  • BO Report: Delhi-6 manages decent collections

    24th February, 2009 18:40

    Rakeysh Omprakash Mehra's Delhi-6 has managed to gross decent if not great collections in its opening weekend. With mixed reviews, this much anticipated film by Me

  • Buy Lanco Infratech, target of Rs 279: Angel Broking

    24th February, 2009 17:53

    Angel Broking has maintained its buy rating on Lanco Infratech with a target price of Rs 279. Total cost of setting up the power plant will be approximately Rs 8,5

  • Don’t rule out mkts testing new lows: Pranav Sec 

    24th February, 2009 17:27

    Rajesh Jain of Pranav Securities said one should not expect a sustained committed buying to resume in India. “I would not expect the market to get past the 3,000 m

  • Govt's excise duty cut to be passed on: Shree Cement 

    24th February, 2009 17:16

    The government today announced reduction of excise duties and service tax by 2% to boost the ailing economy. The general excise duty has been reduced from 10% to 8

  • Service tax cut will boost overall economy: Ultratech 

    24th February, 2009 17:10

    KC Birla, CFO, Ultratech Cement said the service tax service is now par with the excise duty and these moves talk about rationalization of service tax and it is go

  • Tax cut to impact manufacturing, service cos: BMR Advisor 

    24th February, 2009 17:02

    Malini Malikarjun, Partner, BMR Advisor, said the move will have a fairly large impact because other manufacturing companies and service companies are incurring se

  • Can play for 8-10% upside in OMC stocks: Sharekhan 

    24th February, 2009 16:59

    Hemang Jani, Senior Vice President, Sharekhan, said the markets may not recede much from current levels and that he sees some stability going forward. Jani said oi

  • Fiscal consolidation in India to be delayed: S&P 

    24th February, 2009 16:52

    Takahira Ogawa credit analyst at Standard & Poor's said that India's medium-term growth prospects are strong and fiscal consolidation could be delayed because of t

  • Banking stks will underperform: Sukhani 

    24th February, 2009 16:40

    Technical Analyst, Sudarshan Sukhani is of the view that banking stocks will underperform and they could go much lower than we can imagine.

  • Govt may ask IIFCL to bailout power projects 

    24th February, 2009 16:24

    The government may now step in to help the cash starved power sector companies. India Infrastructure Finance Company (IIFC) may be asked to finance the various pow

  • Buy Gujarat State Petronet, target of Rs 42: LKP Shares

    24th February, 2009 16:15

    LKP Shares has recommended a buy rating on Gujarat State Petronet with a price target of Rs 42. GSPL reported net sales of Rs 110.6 crore, up 6.2% yoy, Operating p

  • Sell ABB, target of Rs 386: IIFL

    24th February, 2009 15:59

    IIFL has maintained its sell rating on ABB with a target price of Rs 386. ABB India’s 4QCY08 net profit growth at 6.8% YoY was in line with estimate-much better th

  • See gold at Rs 18000/10gm by Dec-end: Experts 

    24th February, 2009 15:46

    Jonathan Barratt of Commodity Broking said there is an investment demand that is fuelling the need to have gold, which is pushing gold higher. “We expect gold to t

  • Buy Nagarjuna Construction, target of Rs 96: Angel

    24th February, 2009 15:40

    Angel Broking has maintained its buy rating on Nagarjuna Construction with a target price of Rs 96. The Government of Andhra Pradesh has cancelled order worth Rs 1

  • Mkts end flat amid choppy trade, Nifty back above 2700

    24th February, 2009 15:38

    The benchmark indices closed flat ahead of F&O expiry on Thursday. Both indices had started on a weak note following weak global cues. In the second half, markets

  • Power Grid adds 42 lakh shares in OI

    24th February, 2009 15:24

    Short rollover continues around 45% on Nifty side. Power Grid is looking good with a build up of nearly 42 lakh shares in OI and the stock is up nearly 3% in the s

  • Mkt expects RBI to cut CRR or purchase bonds: PNB 

    24th February, 2009 15:18

    Arun Kaul, Chief General Manager, Punjab National Bank, said the bond market expects some sort of support from RBI in terms of providing liquidity either by CRR cu

  • Mkts see-saw; metal, banking, Bharti under pressure

    24th February, 2009 15:05

    The benchmark indices are extremely volatile - both these indices are hovering around previous close. ONGC, NTPC, Infosys, Reliance Communication, Grasim, M&M, DLF

  • Larsen gets Rs 1438cr order; stk up

    24th February, 2009 15:00

    Larsen and Toubro had touched a 52-week low of Rs 605.10. At 2:57 pm, the share was quoting at Rs 626, up Rs 3.50, or 0.56%. The company has got order worth Rs 1,4

  • Buy Sunil Hitech, target of Rs 111: Angel Broking

    24th February, 2009 14:57

    Angel Broking has a buy recommendation on Sunil Hitech with target price of Rs 111. Sunil Hitech Engineers enjoys a strong order book position of Rs 1,298 crore or

  • Ranbaxy Laboratories moves up smartly

    24th February, 2009 14:55

    Ranbaxy Laboratories had touched an intraday high of Rs 214.80 and an intraday low of Rs 202. At 2:47 pm, the share was quoting at Rs 214.80, up Rs 8.10, or 3.92%.

  • European markets trading lower; CAC, DAX down

    24th February, 2009 14:51

    European markets were trading lower. CAC 40 fell 1.18% or 32.11 points at 2,695.76. DAX was down 1.50% or 59.17 points at 3,877.28. FTSE 100 shed 0.53% or 20.34 po

  • Fixing offer price for Satyam difficult: Experts

    24th February, 2009 14:40

    As pieces in the Satyam sale jigsaw slowly fall into place, the crucial question remains: what is the actual value of the company, all assets and potential liabili

  • Areva T&D loses further ground

    24th February, 2009 14:35

    Areva T&D had touched an intraday high of Rs 177 and an intraday low of Rs 166. At 2:25 pm, the share was quoting at Rs 169.55, down Rs 11.95, or 6.58%. It was tra

  • Mkts slip again on S&P's India outlook revision

    24th February, 2009 14:25

    The markets were about to move into positive territory but the news of S&P revised rating on India and weak European cues have pushed the benchmark indices down ag

  • Syndicate Bank tumbles 13.6%

    24th February, 2009 14:15

    Syndicate Bank had touched an intraday high of Rs 59.60 and an intraday low of Rs 52.75. At 2:06 pm, the share was quoting at Rs 53.05, down Rs 8.35, or 13.6%. It

  • Power Grid Corp bounces back

    24th February, 2009 14:05

    Power Grid Corp has bounced back. It had touched an intraday high of Rs 90.25 and an intraday low of Rs 84. At 1:55 pm, the share was quoting at Rs 89.95, up Rs 3.

  • Bajaj Hindusthan declines 8%

    24th February, 2009 13:57

    Bajaj Hindusthan had touched an intraday high of Rs 49.75 and an intraday low of Rs 45.25. At 1:48 pm, the share was quoting at Rs 46, down Rs 3.95, or 7.91%. It w

  • Angel Broking neutral on Glaxo Pharma

    24th February, 2009 13:52

    Angel Broking has maintained its neutral rating on Glaxo Pharmaceuticals. The company posted net sales of Rs 368.5 crore registering a yoy growth of 8.6%.

  • Mah and Mah top gainer on the Sensex

    24th February, 2009 13:38

    Mahindra and Mahindra is the top gainer on the Sensex. It had touched an intraday high of Rs 293.75 and an intraday low of Rs 271.50. At 1:31 pm, the share was quo

  • Sugar price could go up to Rs 28/kg post election: Tulsian 

    24th February, 2009 13:34

    Sugar opened 3% lower in today's trade. The downside was evidently triggered by the government agreeing to impose a stock holding limit for sugar companies. CNBC-T

  • FIIs continue selling

    24th February, 2009 13:33

    FIIs seem to be continuing their sales. The Instanex FII Index is down 1.41% to 197.50 at 1 pm while the Instanex DII 15 Portfolio is down just 0.86%, Nifty has lo

  • Alstom Projects shoots up smartly

    24th February, 2009 13:05

    Alstom Projects had touched an intraday high of Rs 315.55 and an intraday low of Rs 292.80. At 12:56 pm, the share was quoting at Rs 315.30, up Rs 14.55, or 4.84%.

  • Do not invest in Satyam: Mohoni 

    24th February, 2009 12:47

    Technical Analyst, Deepak Mohoni is of the view that one should not trade or invest in Satyam. The entire trading game is over with all the news flows having been

  • Rei Agro back on track

    24th February, 2009 12:43

    Rei Agro had touched an intraday high of Rs 50.95 and an intraday low of Rs 46.55. At 12:35 pm, the share was quoting at Rs 50.75, up Rs 2.75, or 5.73%. It was tra

  • GSS America makes smart gain

    24th February, 2009 12:25

    GSS America Infotech has gained today. It had touched an intraday high of Rs 117.35 and an intraday low of Rs 103. At 12:17 pm, the share was quoting at Rs 116.40,

  • No bidder has clear visibility on Satyam: Hinduja Group 

    24th February, 2009 12:20

    Prabal Banerjee of Hinduja Group believes no bidder has clear visibility on Satyam's liabilities as ascribing value to the beleaguered tech major is tough till lia

  • Kilburn Engineering locked at 5% upper circuit

    24th February, 2009 12:14

    Kilburn Engineering is locked at 5% upper circuit. It had touched an intraday high of Rs 18.90 and an intraday low of Rs 18.50. At 12:01 pm, the share was quoting

  • HDFC top loser on Sensex

    24th February, 2009 11:51

    HDFC is the top loser on the Sensex. It had touched an intraday high of Rs 1,340 and an intraday low of Rs 1,280. At 11:43 am, the share was quoting at Rs 1,295.85

  • Block deal in Orissa Sponge Iron; stk up 5%

    24th February, 2009 11:46

    Orissa Sponge had touched an intraday high of Rs 268.70 and an intraday low of Rs 268.70. At 11:37 am, the share was quoting at Rs 268.70, up Rs 12.75, or 4.98%. T

  • Tata Steel melts down 4.5%

    24th February, 2009 11:42

    Tata Steel had touched an intraday high of Rs 166.90 and an intraday low of Rs 159.35. At 11:34 am, the share was quoting at Rs 160.50, down Rs 7.55, or 4.49%. It

  • SBI freezes new car loan rate at 10%; stk slips

    24th February, 2009 11:35

    SBI had touched an intraday high of Rs 1,033 and an intraday low of Rs 1,015.05. At 11:27 am, the share was quoting at Rs 1,028.55, down Rs 18.05, or 1.72%. The ba

  • Nifty March fut adds 27 lakh shares in OI

    24th February, 2009 11:32

    F&O turnover stood at Rs 12,000 crore, at 11:20 hours IST. Nifty futures added about 27 lakh shares in March series and 34 lakh shares in February. It sees a rollo

  • Asian markets slip; Shanghai Composite, Hang Seng down 3.5%

    24th February, 2009 11:24

    Asian markets were tarding lower. China's Shanghai Composite shed 3.43% or 79.03 points at 2,226.74. Hong Kong's Hang Seng fell 3.50% or 461.46 points at 12,713.64

  • Hindalco will go down further: Srivastava 

    24th February, 2009 11:19

    Ajay Srivastava, Dimensions Consulting is of the view that Hindalco Industries will go down further.

  • Re-assessing Maytas Infra's assets must: Feedback Ventures 

    24th February, 2009 11:15

    Vinayak Chatterjee, Chairman, Feedback Ventures, said new board of Maytas Infrastructure must re-assess inventory of assets, as inventory, valuation of assets and

  • Financial Tech buys back FCCBs worth $ 5.5mn; stk down

    24th February, 2009 11:08

    Financial Technologies had touched an intra day high of Rs 450.05 and an intra day low of Rs 438. At 10:59 am the share was quoting at Rs 440.75, down Rs 13.1, or

  • Indian GDRs: Sterlite down 3.6%, Ranbaxy up 3.5%

    24th February, 2009 10:54

    Indian GDRs: Sterlite fell 3.64% at USD 4.76, L&T plunged 3.50% at USD 12.40, Tata Comm shed 3.15% at USD 15.05, Tata Motors slipped 2.40% at USD 3.25 and ICICI Ba

  • Sell Crude MCX 1st Month Future at Rs 1958: Hem

    24th February, 2009 10:46

    Hem Securities has recommended to sell Crude MCX 1st Month Future at Rs 1958 with a stoploss of Rs 2000 and a target of Rs 1883.

  • Post risk aversion, see Re at 48.50 levels: StanChart

    24th February, 2009 10:45

    Commneting on the road ahead for rupee, Hemant Mishr, Head-Global Markets, Standard Chartered said the near-term level for rupee is around 51-52 per dollar and ris

  • FII Index witnesses heavy selling, down 1.96%

    24th February, 2009 10:36

    FIIs seem to have begun the trading day with sell orders and the Instanex FII Index is down 1.96% to 196.39. In comparison, the DII 15 Portfolio is down only 1.55%

  • Shree Renuka approves amalgamation; stk down

    24th February, 2009 10:24

    Shree Renuka Sugars had touched an intraday high of Rs 81.60 and an intraday low of Rs 78.75. At 10:15 am, the share was quoting at Rs 79.05, down Rs 3.4, or 4.12%

  • SAIL, Tata Steel likely to fall further: Bose 

    24th February, 2009 10:19

    Technical Analyst, Rajat K Bose is of the view that SAIL, Tata Steel and Hindalco are likely to fall further. Metal stocks are not looking very bright as such. The

  • Dealers expect volatility ahead of expiry

    24th February, 2009 10:10

    Flows are muted with a negative bias in early trade. Bank continue to see negative flows at FII desk, wherein buy/sell ratio stands at 1:1.2. Dealers expect bargai

  • Buy USD at 49.80: Bonanza

    24th February, 2009 10:04

    Bonanza has recommended to buy USD at 49.80 with stoploss below 49.5875 and target of 50.30, 50.70, 51. "Short to medium term outlook for the Rupee continues to be

  • Balrampur Chini loses its sweetness

    24th February, 2009 10:00

    Balrampur Chini Mills had touched an intraday high of Rs 51.45 and an intraday low of Rs 48.55. At 10:03 am, the share was quoting at Rs 49, down Rs 3.95, or 7.46%

  • Nifty slips below 2700 on weak global cues

    24th February, 2009 09:59

    The benchmark indices have plunged further in the early trade on the back of sharp decline in the global markets. Selling pressure is seen in capital goods, realty

  • Nifty has support at 2680: Reliance Money

    24th February, 2009 09:55

    According to Reliance Money's Morning Notes, by the end we saw NIFTY closing the week just above its mentioned support range of 2680-2700 levels. Any close below t

  • Govt to draw up e-database of land titles 

    24th February, 2009 09:47

    A grand project to update and digitise land records across the country, so that a registered property deed is conclusive proof of title and not merely a presumptio

  • Mkts overplaying doom, unlikely to hit Oct lows: Dimensions

    24th February, 2009 09:43

    Ajay Srivastava of Dimensions Consulting believes the Indian market doom is only an overplay of the actual situation, the situation is better than the indices potr

  • Below 2700, Nifty can test 2660/2570: FinQuest Securities

    24th February, 2009 09:40

    According to FinQuest Securities' report, below 2700, Nifty can test prior lows at 2660/2570.

  • Expect markets to open lower: Khandwala

    24th February, 2009 09:35

    According to Khandwala Securities' Market Preview report, the stocks seems in a break mode before they beging to make. Asian markets indices at five year lows and

  • Sensex may test 8630-8470: Angel

    24th February, 2009 09:31

    According to Angel Broking's Technical Analysis report, on the downside if the indices trades convincingly below 8762/2709 levels then it may test 8630-8470/2680–2

  • Nifty may correct up to 2701-2265: Angel

    24th February, 2009 09:28

    According to Angel Broking's Market Outlook report, if NIFTY trades below 2745 for the first half-an-hour of trade then it may correct up to 2701-2265.

  • Satyam will hold range of Rs 40-55 

    24th February, 2009 09:19

    Depending upon the market Satyam might swing around a bit but in the run-up to the open offer, this stock will pretty much hold Rs 40-55 kind of range.

  • ABB fair value at Rs 350 

    24th February, 2009 09:15

    L&T is available at 14 PE today so why one would buy ABB at a premium, a 10-15% premium to L&T in valuations with virtually no earnings per share growth in this ye

  • Infosys earmarks Rs 21 cr for new research venture 

    24th February, 2009 09:11

    Infosys has set aside Rs 21 crore as corpus for the newly constituted Infosys Scientific Foundation. This is Infosys' two bits towards scientific research.

  • 10-year yield may move 5-10 bps higher: Ramkumar

    24th February, 2009 09:01

    The outlook for the bond market remains negative and the huge auction today wil weigh on sentiment. The 10-year yield may move 5-10 bps higher from current levels,

  • See rupee in the range of 49.75-50.25: Verity Analytics

    24th February, 2009 08:51

    It is going to be another tricky session for the rupee with Rs 50 per dollar acting as key level. Event risks remain and the range for the next few days is seen b

  • Sandeep Nayak expects Nifty to expire at 2700-2750

    24th February, 2009 08:44

    Sandeep Nayak expects the Nifty to expire at 2700-2750 and aggressive short rollovers in large cap stocks and the Nifty.

  • Emerging mkts may test old lows : BoAML 

    24th February, 2009 08:42

    EM equities are about 15% above their October lows. But the death spiral in US financials threatens to take EMs back to the old lows or lower till the US Treasury

  • Wait set to end for HCL Tech recruits

    24th February, 2009 08:39

    In what could end several months of uncertainty for the 1500-odd campus recruits selected by HCL Technologies in their penultimate year of college (in 2007), they

  • BHEL bags Rs 3,150-cr contract from Malwa thermal project

    24th February, 2009 08:36

    State-run equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) on Monday announced it has bagged a Rs 3,150-crore contract from Madhya Pradesh Power Generati

  • Stocks in news: Satyam, TTML, Sun Pharma, Rel Infra

    24th February, 2009 08:35

    Stocks in news: SEBI is going to insist on open offer by acquirer of Satyam and this move aimed at protecting small investors, SEBI sources said.

  • ICICI Bank to go slow on auto loans disbursal

    24th February, 2009 08:30

    ICICI Bank has said that it will go even slower in disbursing auto loans, unless there is clarity on the repossession norms for vehicles.

  • Asia to relatively perform better than West: Puru Saxena 

    24th February, 2009 08:28

    Puru Saxena, CEO of Puru Saxena Wealth Management says that Asia is going to perform much better than the Western world on a relative basis as most of the Asian ma

  • Market cues: Total Futures Open Int down by Rs 378 cr

    24th February, 2009 08:25

    Market cues: Total Futures Open Int down by Rs 378 crore, Total Options Open Int up by Rs 1082 crore.

  • Near-term range for crude seen between $36-40/bbl

    24th February, 2009 08:17

    NYMEX Crude April declined by $1.60 to a below $39 a barrel on weak demand concerns and decline in equity markets. OPEC, US Energy Deptartment and IEA cut

  • Indian ADRs: HDFC Bank 4.3%, Tata Comm slips 3.6%

    24th February, 2009 08:13

    Indian ADRs: HDFC Bank, Tata Comm, Sterlite, Tata Motors, ICICI Bank, Wipro and Infosys plunged.

  • Dow at 11-yr low; US has moved into depression, says Guppy 

    24th February, 2009 08:10

    Wall Street's woes continued unabated as US market slid to their lowest close in 11 years on Tuesday despite a rally in stocks of the financial sector. “This [brea

  • Asia trading weak; Nikkei slips 2.6%

    24th February, 2009 08:05

    Asian markets were trading weak. China's Shanghai Composite slipped 1.16% or 26.77 pints at 2,279. Hong Kong's Hang Seng plunged 3.10% or 108.77 points at 12,766.3

  • Crude at $39.13/bbl

    24th February, 2009 08:02

    Crude fell marginally as investors were worried about the weak economy. Also, the Wall Street declined to lowest in 12 years. Speculation that demand will decline

  • S&P's rating process needs to be reviewed: FICCI 

    24th February, 2009 21:15

    Harsh Pati Singhania, President, FICCI and MD, JK Paper, said the rating by S&P would have a slight impact. “It might affect the cost of borrowing overseas. But fu

  • Sebi relaxes preference issue guidelines for govt-run cos 

    24th February, 2009 20:29

    The Securities and Exchange Board of India has relaxed preference issue guidelines for companies taken over by government agencies. Preference issue guidelines rel

  • Apollo Tyres slashes excise duty

    24th February, 2009 20:20

    Apollo Tyres Ltd decided to pass on the benefits of the lower excise duty to its customers with effect from the midnight of February 25, 2009. This lowering of pri

  • US markets open higher; Dow up 57 points

    24th February, 2009 20:09

    US markets have opened higher. The Dow Jones Industrial Average is up 56.95 points or 0.80% to 7,171.73. The Nasdaq up 14.69 points or 1.06% to 1,402.41 and S&P 50

  • Analysing eco report card of the UPA Govt: Legacy & beyond  

    24th February, 2009 19:51

    In the last episode of the Legacy & The Road Ahead we discuss and analyse the economic report card of the UPA Government during its tenure.

  • Govt's duty cuts to boost demand: Grasim 

    24th February, 2009 19:40

    The government today announced reduction of excise duties and service tax by 2% to boost the ailing economy. The general excise duty has been reduced from 10% to 8

  • Excise, tax cut to reduce cost by 2%: GMR  

    24th February, 2009 19:30

    The government today announced reduction of excise duties and service tax by 2% to boost the ailing economy. The general excise duty has been reduced from 10% to 8

  • Sell Copper (Feb) below Rs 156: Anagram

    24th February, 2009 19:01

    Anagram Research has recommended to sell Copper (February) below Rs 156 with a stoploss of Rs 159.

  • Buy Dwarikesh Sugar, target of Rs 75: LKP Shares

    24th February, 2009 18:47

    LKP Shares has recommended a buy rating on Dwarikesh Sugar Industries with a price target of Rs 75. Q1-FY’09 has witnessed a smart profitability from the co-genera

  • DLF cuts prices; Puravankara, Sobha may follow suit: Karvy

    24th February, 2009 18:00

    According to Karvy Stock Broking's report on Real Estate sector, the country's largest real estate developer DLF has cut the prices of its new launched projects b

  • Auto sector cheers excise duty, service tax cut 

    24th February, 2009 17:34

    The government today announced reduction of excise duties and service tax by 2% to boost the ailing economy, while the general excise duty has been reduced from 10

  • Rupee ends lower, bonds higher

    24th February, 2009 17:19

    The spot rupee ended lower at Rs 49.84 per USD as against its previous close of Rs 49.74.

  • Skindia GDR Index fell -1.78% to 1064.88

    24th February, 2009 17:13

    The Skindia GDR Index fell -1.78% to 1064.88 at 3:30 pm IST over the previous day’s 3:30 pm IST Index. The Top DR losers were: Sterlite Inds (3.64%), Tata Motors (

  • Eco Affairs Secy says duty cut to impact state's coffers 

    24th February, 2009 17:07

    The government today announced reduction of excise duties and service tax by 2% to boost the ailing economy, while the general excise duty has been reduced from 10

  • Govt ups resettlement compensation to 60% from 30% 

    24th February, 2009 17:00

    The Land Acquisition Policy was enacted to ensure greater safety to people displaced as a result of these projects. This has been cleared by the Cabinet. But there

  • FIIs continue selling, index down 0.65%

    24th February, 2009 16:53

    FIIs seem to be continued their sales today and DIIs appeared to have bought. At close, the Instanex FII Index was down 0.65% to 199.01 while the Instanex DII 15 P

  • More correction left in sugar stocks: Sukhani 

    24th February, 2009 16:45

    Technical Analyst, Sudarshan Sukhani is of the view that there is a more correction left in sugar stocks.

  • DLF to buy Laing O’rouke’s 50% stake in JV 

    24th February, 2009 16:32

    DLF is likely to buy 50% held by Laing O’rouke, one of its joint venture partners. According to CNBC-TV18’s Nayantara Rai, DLF no longer wants to foray into infras

  • Indowind Energy eyes about Rs 12-14cr PAT by June 09 

    24th February, 2009 16:17

    KV Bala, Chairman, Indowind Energy, is targeting around Rs 12-14 crore PAT for year ending June 2009.

  • Bond prices weakest since Dec '08 

    24th February, 2009 16:14

    Money markets have no resilience at all and are seeing severe losses. This is the weakest bond market prices seen since December 2008, which means two-and-a half-m

  • Buy Power Grid on declines: Gujral

    24th February, 2009 15:56

    Technical Analyst, Ashwani Gujral is of the view that one can buy Power Grid Corporation on declines with stoploss of Rs 80-82 for an upside to Rs 105-120.

  • Gold glitters now, then, forever 

    24th February, 2009 15:40

    Gold is considered as a recession proof asset class. It has a report card of 2,000 years of strength and has been on a rise since 2001. It gained 6% in 2008 as com

  • See Cognizant margins at 19-20%: Expert 

    24th February, 2009 15:38

    Cognizant has pegged its margins at a much lower rate of 19–20% compared to all of its other peers.

  • Nifty 2700 put active in Mar series, adds 6 lakh shares 

    24th February, 2009 15:37

    In the March series, 2,700 put has been extremely active and added about six lakh shares in open interest. Today 2,400 and 2,200 continue to remain active in trade

  • Sell Tata Communications, target of Rs 360: IIFL

    24th February, 2009 15:21

    IIFL has recommended a sell rating on Tata Communications with a target price of Rs 360. Tata Communications declared consolidated results for 3QFY09 revenues in l

  • Govt cuts excise duty, service tax to boost ailing sectors 

    24th February, 2009 15:18

    In order to help industry cope under the pressure of the economic slowdown, the Finance Minister, Pranab Mukherjee announced several relief measures in excise duty

  • Grasim Ind among major gainers

    24th February, 2009 15:02

    Grasim Industries is among major gainers on the Sensex. It had touched an intraday high of Rs 1,401 and an intraday low of Rs 1,302. At 2:54 pm, the share was quot

  • Cipla files case against GSK on Tykerb patent

    24th February, 2009 14:58

    Cipla has filed a post grant opposition against Tykerb patent of GSK Pharma on grounds of obviousness and lack of inventiveness. Tykerb (lapatinib), is a kinase in

  • Asian markets end lower; Shanghai down 4.56%

    24th February, 2009 14:56

    Asian markets ended lower. China's Shanghai Composite declined 4.56% or 105.123 points at 2,200.654. Hong Kong's Hang Seng fell 2.86% or 376.58 points at 12,798.52

  • NTPC adds 63 lakh shares in OI 

    24th February, 2009 14:53

    Marketwide rollover stood at 36%. Nifty futures has seen a rollover of 43% and stocks futures rollover at 36%. Nifty futures added about 98.5 lakh shares in open i

  • European markets trading lower

    24th February, 2009 14:51

    European markets were trading lower. CAC 40 fell 1.18% or 32.11 points at 2,695.76. DAX was down 1.50% or 59.17 points at 3,877.28. FTSE 100 shed 0.53% or 20.34 po

  • FIIs selling, DIIs buying

    24th February, 2009 14:38

    FIIs seem to be continuing their sales and DIIs appear to be buying. At 2pm, the Instanex FII Index is down 1.01% to 198.30 while the DII 15 Portfolio is down just

  • Slumdog is tax-free in Delhi, Maharashtra

    24th February, 2009 14:29

    The film has swept the 2009 Oscars with eight awards. Slumdog Millionaire that won eight Academy Awards has been made tax-free in Maharashtra, an official said Mon

  • Aurobindo Pharma recovers sharply

    24th February, 2009 14:24

    Aurobindo Pharma had touched an intraday high of Rs 152.65 and an intraday low of Rs 140.05. At 2:15 pm, the share was quoting at Rs 150.50, up Rs 6.70, or 4.66%.

  • ICICI Venture to explore options of taking over Subhiksha 

    24th February, 2009 14:14

    Renuka Ramnath, MD and CEO, ICICI Venture, said it would explore options of taking over Subhiksha if there was support from investors and other stakeholders.

  • S&P revises India outlook to negative from stable 

    24th February, 2009 14:00

    The Standard & Poor's Ratings Services (S&P) has revised the outlook on the long-term sovereign credit rating on the Republic of India to negative from stable and

  • Mkts choppy; ONGC, NTPC, R-Comm, ICICI Bk, L&T up

    24th February, 2009 13:52

    The benchmark indices have shown smart recovery in the second half and are trading marginally lower with some volatility. ONGC, NTPC, Reliance Communication, HUL,

  • Maytas' assets need to be re-valued: Feedback Ventures

    24th February, 2009 13:50

    On Tuesday, Satyam-tainted company Maytas Infrastructure touched lower circuit today. Vinayak Chatterjee of Feedback Ventures said the new board of Maytas Infra mu

  • Jai Balaji Group eyes Rs 2500cr sales in FY10 

    24th February, 2009 13:35

    Aditya Jajodia, CMD, Jai Balaji Group, sees FY10 sales at Rs 2,500 crore provided the markets remain conservative. He feels the company will post substantial profi

  • US fin stocks to see downside in near-term: Patrick Shum 

    24th February, 2009 13:34

    Patrick Shum, Chief Strategist at Karl-Thomson Securities, said it is a crisis of confidence in the US with regard to the banking sector. In the near-term, Shum fe

  • Don't see sugar output above 16 MT in 2008-09: SP Tulsian 

    24th February, 2009 13:05

    SP Tulsian of sptulsian.com doesn't see sugar production more than 16 million tonne in 2008-09.

  • Mkts trading lower amid choppiness; bank, IT, metals slip

    24th February, 2009 12:50

    The benchmark indices are witnessing some selling pressure amid choppy trade, as downtrend continues in banking, technology, metal, realty and select oil & gas sto

  • See Re rangebound between 48-50.50/$: Experts 

    24th February, 2009 12:47

    Commneting on the road ahead for rupee, Hemant Mishr of Standard Chartered said the near-term level for rupee is 51-52 per dollar and risk aversion will continue i

  • Educomp Solutions continues to fall

    24th February, 2009 12:33

    Educomp Solutions had touched an intraday high of Rs 1,725 and an intraday low of Rs 1,536.10. At 12:25 pm, the share was quoting at Rs 1,615, down Rs 156.85, or 8

  • Jaiprakash Associates loses further ground

    24th February, 2009 12:21

    Jaiprakash Associates has continued to down. It had touched an intraday high of Rs 66 and an intraday low of Rs 63.70. At 12:13 pm, the share was quoting at Rs 64.

  • Dow breakdown signals move into depression: Daryl Guppy

    24th February, 2009 12:17

    Tuesday saw a huge big breakdown in global markets. The Dow has plunged to 12-year lows and S&P has also broken 750, which was its November low. "This qualifies as

  • SAIL among major losers

    24th February, 2009 12:11

    SAIL is among major losers on the Nifty. It had touched an intraday high of Rs 78 and an intraday low of Rs 75.35. At 12:11 pm, the share was quoting at Rs 75.85,

  • Mkts southbound amid volatility; O&G, financials weak

    24th February, 2009 11:49

    The markets are trading lower despite showing recovery from the lows of the day. There is a bit of volatility in the benchmark indices ahead of F&O expiry. The Nif

  • See no chance of any ownership change: Kohinoor Foods 

    24th February, 2009 11:43

    Recently, there was a lot of controversy with Temptation Foods saying it has acquired large chunk of Kohinoor Foods, which was not the case. Clarifying the situati

  • Limited downside in Satyam: Tulsian 

    24th February, 2009 11:39

    Investment Advisor SP Tulsian is of the view that there is a limited downside in Satyam Computer Services. On the downside there is minimum risk but on the upside

  • Buy United Spirits: Srivastava 

    24th February, 2009 11:32

    Ajay Srivastava, Dimensions Consulting is of the view that one can buy United Spirits.

  • Bharti AXA Regular Return Fund extends NFO period

    24th February, 2009 11:24

    Bharti AXA Mutual Fund has extended the NFO period of Bharti AXA Regular Return Fund till February 26, 2009.

  • HDFC Securities neutral on Mercator Lines

    24th February, 2009 11:19

    HDFC Securities has maintained its neutral rating on Mercator Lines. MLL’s results were as per expectations and most of the fleet is on long term charter.

  • Oscar win opens doors for Indian cinema

    24th February, 2009 11:19

    It was an incredible night at the Oscars gala in Los Angeles. Slumdog Millionaire swept eight of the most coveted honours at the Academy Awards 2009 on February 22

  • HDFC MF declares dividend in three schemes

    24th February, 2009 11:11

    HDFC Mutual Fund has announced dividends in its three schemes - HDFC Growth Fund, HDFC Long Term Advantage Fund and HDFC Balanced Fund, for which the record date h

  • PNB top loser on the Nifty

    24th February, 2009 11:04

    PNB is the top loser on the Nifty. It had touched an intraday high of Rs 358 and an intraday low of Rs 338.25. At 11:04 am, the share was quoting at Rs 344.55, dow

  • Mkts under pressure; realty, bank, metal, O&G, IT dip

    24th February, 2009 10:48

    The benchmark indices continue to witness sell-off for the second day in a row on weak global cues. All sectoral indices are trading in red, especially realty, ban

  • RIL to acquire oil storages in US; stk slips

    24th February, 2009 10:45

    Reliance Industries, RIL had touched an intraday high of Rs 1,240 and an intraday low of Rs 1,201.10. At 10:37 am, the share was quoting at Rs 1,205.00, down Rs 48

  • Income Funds - Ideal choice for volatile times?

    24th February, 2009 10:45

    Income funds in recent times yielded better returns than Bank FDs. But, will these funds continue to give such returns in future too?

  • Expect further fall in Educomp Solutions: Bose 

    24th February, 2009 10:33

    Technical Analyst, Rajat K Bose is of the view that there is further fall ahead in Educomp Solutions. It has started rising from above Rs 1,500 levels and then wen

  • Citi in talks with US govt to up stake  

    24th February, 2009 10:21

    In November 2008, the US government had announced a USD 20 billion to bailout a cash strapped Citigroup in a move to guarantee troubled Citi’s asset. Many experts

  • Reliance Infra buyback to open today; stk slips

    24th February, 2009 10:12

    Reliance Infrastructure had touched an intraday high of Rs 484 and an intraday low of Rs 475. At 10:04 am the share was quoting at Rs 475.95, down Rs 15.35, or 3.1

  • Buy Gold April at around Rs 15500-15560: Bonanza

    24th February, 2009 10:09

    Bonanza has recommended to buy Gold April at around Rs 15500-15560 with stoploss below Rs 15470 and target of Rs 15750-15820.

  • Balrampur Chini has support at Rs 45-46: Bose 

    24th February, 2009 10:00

    Technical Analyst, Rajat K Bose is of the view that Balrampur Chini Mills has support at Rs 45-46.

  • BGR Energy bags $8.57 mn contracts; stk up 4.7%

    24th February, 2009 09:59

    BGR Energy Systems had touched an intraday high of Rs 146.70 and an intraday low of Rs 137.05. At 09:59 am, the share was quoting at Rs 143.00, up Rs 6.45, or 4.72

  • Sun-Taro merger to benfit both companies: PharmAsiaNews

    24th February, 2009 09:57

    Vikas Dandekar of pharmasianews.com said, the chairmen of both Taro and Sun Pharma have agreed to meet as part of the mediation process as ordered by the Israeli S

  • Take short positions at 2666 Nifty: Rajat Bose 

    24th February, 2009 09:47

    Rajat Bose of rajatkbose.com said if the Nifty were to crawl back above 2,700, but if it fails to get past 2,733, then it opens up a short position there, or if it

  • Nifty has support at 2730-2690: Nirmal Bang

    24th February, 2009 09:44

    According to Nirmal Bang's report, on the downside support exist at 2730-2690.

  • HCL Tech, Rel Cap, L&T slip below Oct-Nov lows

    24th February, 2009 09:40

    The markets are under pressure. On analysing the Nifty 50 stocks since their October-November intraday lows, it suggests that 5 stocks out of Nifty 50 are trading

  • Expect negative opening: ICICIdirect.com

    24th February, 2009 09:36

    According to ICICIdirect.com's report, Indian markets are likely to open negative, taking cues from global markets.

  • Approach market with buying kind of perspective 

    24th February, 2009 09:33

    One may approach the market with a buying kind of a perspective but just need to keep things in the right context as well, just timing their trade a bit well becau

  • Nifty Feb 2700 Call adds 15.3 lakh shares in OI 

    24th February, 2009 09:30

    FIIs were net sellers to the tune of Rs 914.5 crore in Nifty futures while they net buyers of Rs 721 crore in Nifty options and net bought Rs 224 crore in Stock fu

  • Fear of Indian mkt hitting Oct lows ahead 

    24th February, 2009 09:21

    Dow has plunged to 12-year lows and is now near 7,100. It has been cruising through supports and multi-year lows. The Indian markets, it appears, will get dented t

  • Expect flat to negative opening: Karvy

    24th February, 2009 09:17

    According to Karvy Stock Broking's Technical Analysis report, Domestic markets are likely to open on a flat to negative note following the negative global indices.

  • Nifty's support at 2660 likely to be violated: Anagram

    24th February, 2009 09:12

    According to Anagram Research's report, Nifty's support at 2660 is likely to be violated as 2700 Puts written earlier begin to unwind.

  • Expect stocks to fall today: Mohoni

    24th February, 2009 09:05

    European markets fell last night, and the US indices tumbled heavily. The Dow fell to a 11-year low. Asian markets are also down this morning, and the global short

  • Rupee opens at Rs 49.84 per dollar

    24th February, 2009 09:00

    The Indian Rupee opened at Rs 49.84 per dollar versus Rs 49.74 Friday.

  • Circuit filters change on BSE

    24th February, 2009 08:50

    The circuit filters has been changed from their existing levels in Gujarat Cotex, Jindal Online.com and Glory Polyfilms with effect from February 24, 2009.

  • Support for Nifty at 2662: Gaba

    24th February, 2009 08:43

    The supports for Sensex are at 8631 and resistance to the up move is at 9229-9789. The supports foe Nifty on the way down are at 2662 and resistances on the way up

  • Support for Sensex at 8630: Gaba

    24th February, 2009 08:42

    The support for the Sensex is 8630 and the resistance to the up move is at 8977.

  • Nifty has support at 2650-2680: Gujral

    24th February, 2009 08:37

    Market will have a gap down opening on account of weak global cues. Support are at 2650-2680 and resistance at 2800-2830.

  • Sensex has support at 8631: Vasudeo

    24th February, 2009 08:35

    Next important support is at 8631 and if it is not violated then expect range bound pull-back rally within the band of 9725-8641.

  • 39 foreign Net phone firms under DoT scanner

    24th February, 2009 08:33

    The Department of Telecom has issued orders to block Internet telephony services being offered by around 39 foreign firms in the country.

  • Nifty likely to witness range of 2785-2650: Bhambwani

    24th February, 2009 08:29

    The coming session is likely to witness a range of 2785 on advances and 2650 on declines. Traders may note the declining daily range. The bullish pivot for the ses

  • F&O cues: Nifty Rollover at 40%

    24th February, 2009 08:27

    F&O cues: Nifty Rollover at 40% versus 29% one day ago. Market wide Roll over at 29% versus 23.6% one day before.

  • FIIs net sell nearly Rs 1750 crore last week

    24th February, 2009 08:21

    FIIs were net sellers to the tune of Rs 201 crore and they had sold nearly Rs 1,750 crore last week in the cash market (provisional figures).

  • Hind Zinc silver output to touch 100 tonnes this fiscal

    24th February, 2009 08:15

    Silver production in Hindustan Zinc is likely to touch 500 tonnes by 2013 with the expansion of Sindesar Khurd mine in Rajasthan. The company produced 70 tonnes of

  • Mixed trend in rubber

    24th February, 2009 08:13

    The physical rubber prices showed a mixed trend on Monday. The gainers of the day were ungraded rubber and RSS 5 which improved by 50 paise on scattered transactio

  • S&P 500 closes below Nov closing lows 

    24th February, 2009 08:10

    S&P 500 closed below November closing lows ahead of Bank Stress Test tomorrow. There are reports that AIG held talks with Fed over another bailout. Market is feari

  • Sun-Taro may finally agree to a compromise soon 

    24th February, 2009 08:02

    According to globes report, Sun Pharma Chairman, Dilip Sanghvi and Taro CEO, Barrie Levitt met last week on possible compromise formula to acquire Taro. Vikas Dand

  • BSE shareholders approve 12:1 bonus shares in EGM

    24th February, 2009 07:20

    The Bombay Stock Exchange (BSE) shareholders have approved in its Extra Ordinary General Meeting (EGM) held on February 20, 2009, issue of Equity Shares by way of

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