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Moneycontrol News Archive : 27 February, 2009

  • Construction contributed 6.7%, fin 9.5% to Q3 GDP: FICCI 

    27th February, 2009 22:13

    India's GDP clocked a dismal 5.3% growth over the third quarter. Commenting on the numbers, Amit Mitra, Secretary General, FICCI, said nobody seems to have noticed

  • Rupee has support at 50.55/65: Commtrendz Research

    27th February, 2009 20:35

    According to Commtrendz Research's report on Indian Rupee, immediate supports are now around the previous highs, which are clustered between 50.55/65 followed by 4

  • US markets open weak; Dow down 120 points

    27th February, 2009 20:07

    The US markets have opened weak. The Dow Jones Industrial Average is down 120.42 points or 1.68% to 7,061.66. The Nasdaq is down 16.56 points or 0.67% to 1,374.91

  • See crude in $40-50/bbl range: Shamik Bhose

    27th February, 2009 19:48

    Shamik Bhose, Independent Commodities Advisor, sees crude trading in a USD 40-50 per barrel range going forward.

  • Buy Ranbaxy Laboratories, target of Rs 277: Angel Broking

    27th February, 2009 19:32

    Angel Broking has maintained its buy rating on Ranbaxy Laboratories with target price of Rs 277. The Ranbaxy stock has slipped by 18% post announcement of the USFD

  • Exit Reliance Petroleum, invest in RIL: SP Tulsian 

    27th February, 2009 18:45

    Investment Advisor, SP Tulsian is of the view that one should exit from RPL and invest in Reliance Industries.

  • Tips to trade RIL, RPL today 

    27th February, 2009 18:30

    Dipan Mehta, Member of the Bombay Stock Exchange, said it really makes no difference for the performance of both companies. “They will create a feel good effect in

  • Cost control reason for RIL-RPL merger: HP Ranina 

    27th February, 2009 18:24

    HP Ranina, Advocate, Supreme Court, believes, “The real issue is cost rationalization and reduction in the cost to a great extent, which will increase shareholder

  • RIL merger negative for RPL shareholders: SP Tulsian 

    27th February, 2009 18:16

    SP Tulsian, sptulsian.com doesn’t see RIL-RPL merger news a reason for cheer for shareholders of Reliance Industries. According to him, RIL shares could rise by ab

  • Lending to clients between 13% and 14%: Tourism Fin Corp 

    27th February, 2009 17:50

    Archana Capoor, Chairperson and MD, Tourism Finance Corporation, said it is lending between 13% and 14%. Capoor does not see demand shrinking going forward.

  • Rupee ends at record low, bonds close higher 

    27th February, 2009 17:40

    The spot rupee ended lower at record low of Rs 51.10 per USD as against its previous close of Rs 50.47. It touched an all-time low of Rs 51.17 a dollar.

  • Skindia GDR Index plunges 2.39% to 1056.49

    27th February, 2009 17:31

    The Skindia GDR Index plunged 2.39% to 1056.49 at 3:30 pm IST over the previous day’s 3:30 pm IST Index. The Top DR losers were: Ranbaxy (-8.82%), Grasim (-5.93%),

  • Asian Hotels still doing 70% occupancy: Sushil Gupta 

    27th February, 2009 17:29

    Sushil Gupta, Managing Director, Asian Hotels, said Mumbai terror attack has affected the hotel industry very badly last quarter. "February is definitely better th

  • RIL to consider merger with RPL on March 2

    27th February, 2009 17:11

    The Reliance Industries Limited Board will meet on March 2 to consider merger with RPL.

  • Wineries raise toast to being recession proof 

    27th February, 2009 16:47

    One industry that is recession proof is the wine industry, which is in its budding stage. The industry has grown substantially and is optimistic on the growth goin

  • Expect -ve WPI in early April or May 09: India Capital Mkts

    27th February, 2009 16:42

    According to India Capital Markets' report on Inflation Meter, going forward the research firm expects that the continuous decline in WPI and the high base of last

  • See good results this year: Mcleod Russel 

    27th February, 2009 16:32

    ya Khaitan, MD, McLeod Russel, said the company will end this year with a strong balance sheet in terms of figures. “I can optimistically say we are looking at the

  • Foreign trade experts content with Trade policy 

    27th February, 2009 16:16

    The interim Trade policy announced on Thursday includes simplification of procedures for claiming duty drawback. Along with other announcements, the policy makes p

  • See clear growth in infra, BPO biz: MphasiS 

    27th February, 2009 15:42

    Ganesh Ayyar, CEO, MphasiS, said the company’s focus is on operational excellence and productivity. He feels there is scope for infrastructure business. “It is a s

  • Cotton prices had -ve impact on GDP: Paradigm Commodity Adv 

    27th February, 2009 15:31

    Biren Vakil, Commodity Consultant, Paradigm Commodity Advisors, said cotton prices had a negative impact on GDP. According to Vakil, had the GDP number taken into

  • See muted growth, delay in pvt projects: L&T 

    27th February, 2009 15:28

    YM Deosthalee, CFO, L&T, doesn't expect significant recovery in March but sees situation to be slightly better in Q1 FY10. Deosthalee also sees some delay, cancell

  • PTC India up on buying interest

    27th February, 2009 15:16

    PTC India had touched an intraday high of Rs 61.50 and an intraday low of Rs 56.35. At 3:08 pm, the share was quoting at Rs 60.25, up Rs 3.80, or 6.73%. It was tra

  • Grasim Industries slips on profit booking

    27th February, 2009 15:04

    Grasim Industries had touched an intraday high of Rs 1,470 and an intraday low of Rs 1,375.05. At 2:56 pm, the share was quoting at Rs 1,384.40, down Rs 74.45, or

  • Asian markets end mixed; Straits Times down 2.07%

    27th February, 2009 15:00

    Asian markets ended mixed. Hong Kong's Hang Seng fell 0.65% or 83.37 points at 12,811.57. China's Shanghai Composite lost 1.81% or 38.399 points at 2,082.852. Howe

  • Tata Steel declares results; stk gains

    27th February, 2009 14:59

    Tata Steel had touched an intraday high of Rs 174 and an intraday low of Rs 156.15. At 2:59 pm, the share was quoting at Rs 173.70, up Rs 10.65, or 6.53%. The comp

  • Dismal Q3 GDP nos won't affect mkts in long term: Karvy 

    27th February, 2009 14:55

    Ambareesh Baliga, Karvy Stock Broking said GDP numbers are much below expectations and markets reacted to the same. He sees GDP around 5.5-5.25% in the long-term a

  • Mkts southbound despite recovery; Tata Steel jumps

    27th February, 2009 14:50

    The benchmark indices are still witnessing selling pressure, despite showing a bit of recovery from the lows of the day. Sell-off in European markets is adding mor

  • Do not sell HDFC: Mohoni 

    27th February, 2009 14:42

    Technical Analyst, Deepak Mohoni is of the view that one shouldn't sell HDFC.

  • Indiabulls Securities gains nearly 5%

    27th February, 2009 14:18

    Indiabulls Securities had touched an intraday high of Rs 22.75 and an intraday low of Rs 21.10. At 2:09 pm, the share was quoting at Rs 22.35, up Rs 1.05, or 4.93%

  • Smart Shopping: Mobile Phones

    27th February, 2009 14:12

    Buying a phone these days can put you in a real soup. The numerous features and complex price structures can confuse you. Buyers run a huge risk of deciding on cer

  • Analysis: Prompt RBI action won't boost demand

    27th February, 2009 14:00

    The GDP numbers came in as a negative surprise at 5.3%. This dismal GDP number may pressurise the RBI to further cut rates. but this may not have too much of a pos

  • Farm sector nos a cause of worry

    27th February, 2009 14:00

    India's economy grew by less than expected in the last three months of 2008. Agriculture, which makes up about a fifth of the economy was one of the sectors to see

  • Sell Ambuja Cements, target of Rs 53: HDFC Securities

    27th February, 2009 13:55

    HDFC Securities has maintained its sell rating on Ambuja Cements (ACEM) with a price target of Rs 53. ACEM has planned to increase installed capacity by 5.5 tm in

  • Mercator Lines makes smart gain

    27th February, 2009 13:53

    Mercator Lines had touched an intraday high of Rs 27.70 and an intraday low of Rs 26.10. At 1:52 pm, the share was quoting at Rs 27.40, up Rs 1.10, or 4.18%. It wa

  • Instanex FII Index remains inactive

    27th February, 2009 13:50

    FIIs continue to be quite. At 1pm, the Instanex FII Index is down 2.11% at 197.17 while the Instanex DII 15 Portfolio is down 2.05%, Nifty has lost 2.74% and Sense

  • Allahabad Bank hits 52-week low

    27th February, 2009 13:45

    Allahabad Bank has touched a 52-week low of Rs 40.10. At 1:36 pm, the share was quoting at Rs 40.10, down Rs 2.2, or 5.2%. It was trading with volumes of 131,997

  • Nifty 2300 put active today, adds nearly 4.5 lakh shares

    27th February, 2009 13:33

    Nifty 2,300 put is active today with addition of nearly 4.5 lakh shares. So on the higher side, it seems that now people are expecting that 2,700-2,800 seems to be

  • Commodities decline after meltdown in Asia currencies 

    27th February, 2009 13:23

    Most of the base metals have been trading on the lower side with an exception of copper which has gained 13% year to date because of strong Chinese buying. But tha

  • Lower support for Nifty at 2723-2669-2630: Anil Manghnani

    27th February, 2009 13:19

    The upper trading targets placed at 9041-9302 (SENSEX) & 2788-2857 (NIFTY). The lower supports placed at 8850-8588-8467-8316 (SENSEX) & 2723-2669-2630 (NIFTY). Use

  • Rupee breaches 51/$ mark, Asian currencies too plummet

    27th February, 2009 13:05

    The rupee has touched a lifetime low of Rs 50.97 per dollar. It closed at Rs.50.46 yesterday. On Thursday, the spot rupee ended lower at Rs 50.47 per dollar as aga

  • EKC's subsidiary CP Inds Holdings bags order worth $5.8m

    27th February, 2009 13:00

    Everest Kanto Cylinder Ltd, wholly owned subsidiary CP Industries Holdings, Inc in USA has received orders totaling USD 5.8 Million from National Oilwell Varco, Ri

  • Buy Power Grid, target of Rs 120: Indiabulls Sec

    27th February, 2009 12:57

    Indiabulls Securities Research has maintained its buy rating on Power Grid Corporation of India with a target price of Rs 120. PowerGrid’s net sales were up 34.4%

  • Smart Shopping: Consoles

    27th February, 2009 12:52

    Gaming in India has never been this exciting. The choices we now have are at par with most other countries. It is no longer about the latest console on the market,

  • KNRCL bags Rs 576.38cr order

    27th February, 2009 12:48

    KNR Constructions Ltd, a leading construction company based in Hyderabad, has bagged a order worth Rs 576.38 crore. The order is to execute an eight lane expresswa

  • Rupee touches life time low

    27th February, 2009 12:29

    The Indian Rupee has touched its life time low of Rs 50.95 per dollar. Currently it is trading at Rs 50.95 per dollar mark.

  • Block deal in United Breweries; stk up 5.2%

    27th February, 2009 12:14

    United Breweries had touched an intraday high of Rs 83.95 and an intraday low of Rs 74.25. At 12:13 pm, the share was quoting at Rs 83.80, up Rs 4.15, or 5.21%. Th

  • Elections will offer direction to rangebound mkts: Tata MF 

    27th February, 2009 12:02

    Ved Prakash Chaturvedi, MD, Tata Mutual Fund, thinks elections will play a big role in giving direction to markets. "For now, the one thing the market will react t

  • Cement, IT, realty, metal slip on Q3 GDP disappointment

    27th February, 2009 11:59

    The stock markets slipped further post dismal Q3 GDP numbers. Both benchmark indices, the Sensex and the Nifty were down over 2% each within half an hour of the re

  • MK Jalan plans to bid for 42% govt stake in Tide Water  

    27th February, 2009 11:53

    MK Jalan, a Kolkata businessman, said he is keen on buying Tide Water Oil and has been mopping up shares for the last six-seven years. He said he owns 14.9%. "I am

  • Wipro plummets 4.7%

    27th February, 2009 11:50

    Wipro had touched an intraday high of Rs 217.95 and an intraday low of Rs 204.25. At 11:43 am, the share was quoting at Rs 205.80, down Rs 10.15, or 4.7%. It was t

  • Hexaware Tech bounces back

    27th February, 2009 11:46

    Hexaware Technologies has bounced back today. It had touched an intraday high of Rs 25.30 and an intraday low of Rs 24. At 11:36 am, the share was quoting at Rs 25

  • Q3 GDP: Disappointing but not surprising, says India Inc 

    27th February, 2009 11:39

    The gross domestic product (GDP) growth data that came out was a disappointment. The economy grew at a dismal 5.3%, down from 8.9% during the same quarter last yea

  • Hold Ranbaxy, target of Rs 189: Reliance Money

    27th February, 2009 11:34

    Reliance Money has upgraded its rating on Ranbaxy Laboratories from sell to hold with a target price of Rs 189. The U.S. Food and Drug Administration (USFDA) has h

  • Amtek Auto gains further ground

    27th February, 2009 11:31

    Amtek Auto has continued to rise. It had touched an intraday high of Rs 80 and an intraday low of Rs 74.40. At 11:24 am, the share was quoting at Rs 78.90, up Rs 5

  • Rel Infra seeks MERC nod; stk down

    27th February, 2009 11:18

    Reliance Infrastructure had touched an intraday high of Rs 513.70 and an intraday low of Rs 493.35. At 11:10 am, the share was quoting at Rs 493.80, down Rs 15.7,

  • Maruti Suzuki trips on selling pressure

    27th February, 2009 11:09

    Maruti Suzuki has slipped today. It had touched an intraday high of Rs 690 and an intraday low of Rs 666.35. At 11:01 am, the share was quoting at Rs 667.75, down

  • Don't think Satyam will be de-listed ahead: Sandeep Parekh 

    27th February, 2009 11:00

    The speculations about who will buy Satyam continues and Sandeep Parekh, Visiting Associate Faculty, IIM-A said that bidders are still interested in Satyam but are

  • Ambuja Cements top losers on the Nifty

    27th February, 2009 10:58

    Ambuja Cements is the top losers on the Nifty. It had touched an intraday high of Rs 66.10 and an intraday low of Rs 62.20. At 10:50 am, the share was quoting at R

  • Block deals in Union Bank of India; stk up

    27th February, 2009 10:53

    Union Bank of India had touched an intraday high of Rs 127.75 and an intraday low of Rs 120.10. At 10:52 am, the share was quoting at Rs 127.20, up Rs 3.80, or 3.0

  • National Fertilizers maintains its march ahead

    27th February, 2009 10:47

    National Fertilizers has continued to gain. It had touched an intraday high of Rs 31.70 and an intraday low of Rs 30. At 10:39 am, the share was quoting at Rs 30.9

  • Wockhardt gets US FDA approval for ulcers syrup; stk up

    27th February, 2009 10:41

    Wockhardt had touched an intraday high of Rs 82.90 and an intraday low of Rs 81.35. At 10:41 am, the share was quoting at Rs 82.00, up Rs 0.90, or 1.11% on the NSE

  • Indian GDRs: Ranbaxy down 14.2%, Mahindra up 14.8%

    27th February, 2009 10:38

    Indian GDRs: Ranbaxy tumbled 14.29% at USD 3.60, Satyam plunged 5.29% at USD 1.61, ICICI Bank was down 5.17% at USD 12.83, Dr Reddys fell 2.84% at USD 8.22 and Tat

  • Sell Gold April around Rs 15450: Bonanza

    27th February, 2009 10:24

    Bonanza has recommended to sell Gold April at around Rs 15450 with stoploss above Rs 15550 and target of Rs 15025.

  • Educomp Solutions may slip to Rs 1400: Mathew 

    27th February, 2009 10:13

    Technical Analyst, E Mathew is of the view that Educomp Solutions may slip to Rs 1402-1400, which is a good support. But if Rs 1,400 is broken, then you could see

  • Mcleod Russel has support at Rs 38-40: Mathew 

    27th February, 2009 10:09

    Technical Analyst, E Mathew is of the view that Mcleod Russel has support at Rs 38-40. If one could accumulate it around Rs 38-40 zone, one could look for a medium

  • Mcleod Russel continues to gain

    27th February, 2009 10:02

    Mcleod Russel has continued to gain. It had touched an intraday high of Rs 47 and an intraday low of Rs 45.50. At 10:01 am, the share was quoting at Rs 46.20, up R

  • Ranbaxy Lab has support at Rs 136: Mathew 

    27th February, 2009 10:00

    Technical Analyst, E Mathew is of the view that Ranbaxy Laboratories has immediate medium-term support at Rs 136 and if that also does not sustain, then it could g

  • Ranbaxy Laboratories touches 52-week low

    27th February, 2009 09:58

    Ranbaxy Laboratories has touched a 52 week low of Rs 160.25. At 09:59 am, the share was quoting at Rs 161.10, down Rs 8.75, or 5.15% on the NSE. It was trading wit

  • Piramal Healthcare can test Rs 238: Mathew 

    27th February, 2009 09:51

    Technical Analyst, E Mathew is of the view that Piramal Healthcare can test Rs 238.

  • Sensex has support at 8880-8830: ICICIdirect.com

    27th February, 2009 09:45

    According to ICICIdirect.com's report, the Sensex has supports at 8880 and 8830 and resistances at 9040 and 9080.

  • Not a great time to get into CV space: Kotak Equities 

    27th February, 2009 09:41

    Sanjeev Prasad, ED, Kotak Institutional Equities feels it’s a long haul for commercial vehicle players and said it’s not a great time to get into the CV space.

  • Nifty may test 2680-2580 if it breaks 2730: Nirmal Bang

    27th February, 2009 09:39

    According to Nirmal Bang's report, on the lower side if nifty breaks 2730 then weakness could prevail and it may again test 2680 or 2580 shortly.

  • Nifty has support at 2730: Reliance Money

    27th February, 2009 09:33

    According to Reliance Money's Morning Notes, on lower side support continues to exist around levels of 2730 and then at 2680-2700 range.

  • Nifty has support at 2650: Anagram

    27th February, 2009 09:28

    According to Anagram Research's report, at this point of time , there is an iron gate at 2880, which the Nifty can’t open and on the lower side it has support at 2

  • Nifty can edge higher towards 2850-2870: FinQuest

    27th February, 2009 09:21

    According to FinQuest Securities' report, Nifty appears to be bullish for the day and can edge higher towards 2850-2870.

  • Expect flat to negative opening: Karvy

    27th February, 2009 09:16

    According to Karvy Stock Broking's Technical Analysis report, the indices are expected to open on a flat to negative note following the mixed global cues.

  • Consumer durables cos hit by high inventories volumes

    27th February, 2009 09:07

    If the summer of 2008 was a trying one for consumer durable companies, it was just the beginning. The latest data reveals that the last nine months have been the w

  • Expect gains today: Mohoni

    27th February, 2009 09:05

    European markets were strong last night, while the US indices declined. Asian markets have made moderate gains this morning, and the global short-term trend appear

  • Volatility to continue in bond markets: Shenoi

    27th February, 2009 08:58

    Volatility will continue in the bond markets and the yields are likely to be under pressure due to overbought positions. The bonds may be positive in the short-ter

  • Obama unveils USD 3.6-trillion Budget plan 

    27th February, 2009 08:48

    US President Barack Obama unveiled his USD 3.6 trillion budget. Lots of new spending programmes are unveiled in the trillion dollar budget. There are also efforts

  • Security concerns over BSNL’s 3G network

    27th February, 2009 08:43

    Security agencies have raised concerns over the third generation mobile services being launched by Bharat Sanchar Nigam Ltd on grounds that the company has not put

  • ONGC to extend vessel deals at old contract rates

    27th February, 2009 08:39

    Faced with delays in supply of offshore supply vessels (OSVs) for its oil and gas exploration operations, ONGC has decided to cancel tenders for the vessels and ex

  • Investors should stay out of Western bonds: Tyche Group 

    27th February, 2009 08:34

    Martin Hennecke, Senior Manager at Tyche Group says investors should largely try to stay out of the Western markets and not just the markets but even the Western b

  • F&O cues: Market-wide rollover 75%

    27th February, 2009 08:33

    F&O cues: Market-wide rollover 75% and Nifty Rollover at 76%. Nifty March Futures trading at a 20 point discount

  • Nifty likely to witness range of 2840-2735: Bhambwani

    27th February, 2009 08:27

    The coming session will witness a range of 2840 on advances and 2735 on declines. The bullish trigger for the session will be at the 2775 and the bearish trigger w

  • Nifty may fall below 2700 mark

    27th February, 2009 08:24

    Market participants believe India to pick up cues from global markets, now that expiry is over. The Nifty may fall below 2700 mark. Rollovers were 75% lower than w

  • CNBC-TV18 poll sees Q3 GDP around 6% vs 7.6% QoQ

    27th February, 2009 08:22

    Q3 GDP is expected to be announced today. A CNBC-TV18 poll sees third quarter GDP around 6% vs 7.6% quarter-on-quarter(QoQ).

  • Stocks in news: Kingfisher, Satyam, GE Ship, Tide Water

    27th February, 2009 08:19

    Stocks in news: Vijay Mallya says is in talks with PE to raise $400 million for Kingfisher Airlines. Satyam board may allow non-IT companies to bid for Satyam.

  • Indian ADRs: ICICI Bank slips 5%, Satyam down 5.3%

    27th February, 2009 08:15

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

  • Obama vows to slash deficit in budget plan; US mkts down

    27th February, 2009 08:10

    The US markets ended lower as President Obama outlined his budget plan for the year. In a bid to cut down on spending and reducing the deficit, he proposed a radic

  • MF NAVs close higher as markets gain

    27th February, 2009 00:35

    Equity diversified NAVs closed higher with advance:decline ratio of 148:73, as the benchmark indices witnessed some buying interest in late trade and managed to en

  • Biz consolidation behind RIL-RLP merger: BMR Advisors 

    27th February, 2009 20:50

    Commenting on the RIL-RPL merger talks, Mukesh Butani of BMR Advisors, said it seems purely as a business consolidation move. “It seems to be like any other busine

  • Mkts may hit new low around monsoon, elections: Nilesh Shah 

    27th February, 2009 20:32

    Nilesh Shah, MD and CEO, Envision Capital, said there is a high probability of the market going below October 2008 lows. "The markets can make a new low around mon

  • Hold UltraTech Cement, target of Rs 475: Sharekhan

    27th February, 2009 19:52

    Sharekhan has downgraded its rating on UltraTech Cement to hold with price target of Rs 475.

  • Highlights of RIL-RPL merger

    27th February, 2009 19:38

    The Reliance Industries Limited (RIL) board will meet on March 2 to consider merger with Reliance Petroleum Limited (RPL). The merger is effective retrospectively

  • Buy Jain Irrigation, target of Rs 377: IIFL

    27th February, 2009 19:15

    IIFL has recommended a buy rating on Jain Irrigation with target price of Rs 377. Jain Irrigation has scaled back its capex estimates to Rs 1.5 billion annually fr

  • Instanex FII Index underperforms

    27th February, 2009 18:35

    Foreigners did not seem to be buyers of Indian shares today. While the broad-based Nifty was down 0.79%, the Instanex FII Index was down only 0.34% at 200.73 and t

  • Watch out for global events next week: AIG, MBIA nos 

    27th February, 2009 18:27

    One of the most anticipated results in the global financial markets that is from AIG (American International Group), they will be posting their Q4 results on Monda

  • Buy MCX Copper (March): Anagram

    27th February, 2009 18:19

    Anagram Research has recommended to buy MCX Copper (March) with a stoploss of Rs 171.

  • Tata Steel net sales up 4% at Rs 33,191 cr 

    27th February, 2009 18:10

    Tata Steel has declared its third quarter consolidated results. The company's consolidated net profit was down 38.6% at Rs 813.89 crore versus Rs 1,325.05 crore. I

  • IBG to launch its online brokerage services in India

    27th February, 2009 17:41

    Interactive Brokers Group is about to launch its online brokerage services in India, through Interactive Brokers (India) Pvt., Limited. That is, IBG will provide I

  • Asian Hotels Q3 PAT at Rs 23.07 cr

    27th February, 2009 17:36

    Asian Hotels has come out with its third quarter results. The company's net sales were at Rs 124.20 crore versus Rs 145.25 crore. Its OPM at 37% versus 48%. Its PA

  • JET-KF code-sharing pact still grounded 

    27th February, 2009 17:29

    The much-hyped code-sharing agreement between Jet Airways and Kingfisher Airlines has not taken off. CNBC-TV18’s Neha Pandey reports on how both airlines are going

  • Tata Steel eyes 1.6m tonne sales in Q4 FY09

    27th February, 2009 17:22

    The Tata Steel management in a company Press conference stated that the company is planning to sell 1.6 million tonne in the January-March quarter and added the co

  • Several index stocks hit 52-week lows

    27th February, 2009 17:00

    The stock markets closed lower as realty, oil & gas, cement, IT, auto and capital goods stocks witnessed selling pressure. During today’s trade several index stock

  • Experts see mkts trending downward 

    27th February, 2009 16:44

    Rahul Mohindar of viratechindia.com said if the Nifty breaks 2,650, then one is likely to see levels like 2,500 or a retest of previous lows. This view is shared b

  • Q3FY09 Sector Review: Reliance Money

    27th February, 2009 16:42

    Reliance Money has come out with its report on Q3FY09 Sector Review. Demand for automobile industry has been impacted mainly due to high interest rates, stringent

  • Sell Ranbaxy Laboratories: Sharekhan

    27th February, 2009 16:24

    Sharekhan has advised to book out of Ranbaxy Laboratories. The continued uncertainty over the extent of the likely damage to the company’s US business and the timi

  • See rupee move towards Rs 52-53/$ in 3 mths: IndusInd Bank 

    27th February, 2009 15:54

    Moses Harding, Executive VP & HD-Wholesale Banking Group, IndusInd Bank, sees a gradual move towards 52-53 in the next three months time.

  • Mkts close weak; realty, O&G dip, bank, CG up

    27th February, 2009 15:38

    The benchmark indices ended lower, despite showing smart recovery in the last one hour of the trade. The disappointing Q3 GDP numbers and weak European markets kep

  • Sensex up 0.55%, Nifty gains 1% this week

    27th February, 2009 15:30

    The benchmark indices ended higher this week; the Sensex closed at 8,891.61, up 0.55% and the Nifty was up 1%, to 2,763.65. However, among broader indices, CNX Mid

  • Bata Q4 standalone net profit at Rs 21.11 cr

    27th February, 2009 15:23

    Bata India has announced its fourth quarter numbers. Its Q4 standalone net profit was flat at Rs 21.11 crore as against Rs 21.10 crore (YoY).

  • Experts see decent FY09 GDP despite dismal Q3 nos

    27th February, 2009 15:05

    The third quarter GDP number may have been at lower at 5.3% versus 8.9% (YoY) and 7.6% (QoQ). However, given the numbers like IIP numbers that came in during Octo

  • Apurv Nagpal is new Saregama MD

    27th February, 2009 15:04

    Apurv Nagpal has been appointed Managing Director of Saregama India Ltd, an RPG Group Company. The IIM-A graduate has been roped in for his passion for entertainme

  • Indiabulls Real an underperformer: HDFC Securities

    27th February, 2009 15:00

    HDFC Securities has maintained its underperformer rating on Indiabulls Real Estate. The Q3 FY 09 results of Indiabulls Property Investment Trust (IPIT) reveal the

  • Cairn India among major gainers

    27th February, 2009 14:56

    Cairn India is among major gainers on the Nifty. It had touched an intraday high of Rs 167.50 and an intraday low of Rs 162.80. At 2:57 pm, the share was quoting a

  • Tata Steel Q3 cons net profit at Rs 813.89 cr

    27th February, 2009 14:53

    Tata Steel has declared its third quarter consolidated results. The company's consolidated net profit was at Rs 813.89 crore. Its consolidated net sales were at Rs

  • Bharat Forge maintains its march ahead

    27th February, 2009 14:47

    Bharat Forge has continued to rise. It had touched an intraday high of Rs 94.05 and an intraday low of Rs 88.15. At 2:40 pm, the share was quoting at Rs 93.80, up

  • Aban Offshore touches new low

    27th February, 2009 14:31

    Aban Offshore had touched a 52-week low of Rs 317.25. At 2:23 pm, the share was quoting at Rs 319.25, down Rs 29.35, or 8.42%. It was trading with volumes of 509,7

  • Nifty futures discount remains over 30 pts  

    27th February, 2009 14:15

    The discount of Nifty Futures remained above 30 points and March futures added around 47 lakh shares in open interest, OI. But the turnover for the first day of th

  • European markets trading weak; CAC down nearly 2%

    27th February, 2009 14:00

    European markets were trading weak. CAC 40 fell 1.87% or 51.34 points at 2,693.50. DAX declined 1.45% or 57 points at 3,885.62. FTSE 100 shed 1.70% or 66.63 points

  • Bata India recovers sharply

    27th February, 2009 14:00

    Bata India has recovered today. It had touched an intraday high of Rs 82.75 and an intraday low of Rs 77. At 1:55 pm, the share was quoting at Rs 80.60, up Rs 3.65

  • HDFC top gainer on the Nifty

    27th February, 2009 13:58

    HDFC is the top gainer on the Nifty. It had touched an intraday high of Rs 1,277 and an intraday low of Rs 1,200. At 1:57 pm, the share was quoting at Rs 1,260.20,

  • Indian pharma cos must comply with US FDA norms: DS Brar 

    27th February, 2009 13:55

    DS Brar, Chairman, GVK Biosciences, talking on Ranbaxy’s US FDA issues, said that every 3-4 years, there has been a crackdown by the US regulators. He said pharma

  • Mkts tumble; RIL, Infosys, Bharti, ICICI Bk draggers

    27th February, 2009 13:51

    Markets continue to trade weak as all sectoral indices are trading negative. Out of BSE Sensex 30 stocks, only HDFC is trading positive. Reliance, Infosys, ITC, Bh

  • Punj Lloyd slumps 5%

    27th February, 2009 13:48

    Punj Lloyd has touched a 52 week low of Rs 78.80. At 1:38 pm, the share was quoting at Rs 78.95, down Rs 4.2, or 5.05%. It was trading with volumes of 943,408 shar

  • GSK Pharma a market performer: Karvy

    27th February, 2009 13:42

    Karvy Stock Broking has rated GlaxoSmithKline Pharmaceuticals as a market performer with price target of Rs 1215. Profits for the quarter were higher by 11.5% to R

  • See FY09 GDP growth at 6.5-7.5%: ICRA 

    27th February, 2009 13:33

    Saumitra Chaudhari, Economic Advisor, ICRA said this year's GDP growth will still be around 7.1% as indicated in the advance estimates. "For the next year, my asse

  • Sell ACC, target of Rs 474 :HDFC Securities

    27th February, 2009 13:21

    HDFC Securities has maintained its sell rating on ACC with a price target of Rs 474. ACC has planned to increase its installed capacity by 7 mt in different stages

  • No witch hunt by US FDA against Indian pharma cos: DS Brar 

    27th February, 2009 13:15

    DS Brar, Chairman, GVK Biosciences, talking on Ranbaxy’s US FDA issues, said that every 3–4 years, there has been a crackdown by the US regulators. He said pharma

  • MphasiS announces results; stk down

    27th February, 2009 13:02

    MphasiS had touched an intraday high of Rs 176.90 and an intraday low of Rs 167. At 12:54 pm, the share was quoting at Rs 167.80, down Rs 3.9, or 2.27%. The compan

  • Zee Entertainment puts on a poor show

    27th February, 2009 12:58

    Zee Entertainment Enterprises had touched an intraday high of Rs 114.25 and an intraday low of Rs 102.50. At 12:50 pm, the share was quoting at Rs 107, down Rs 5.9

  • 2009 to be difficult year for mfg sector: Rahul Bajaj 

    27th February, 2009 12:54

    Rahul Bajaj, Chairman of Bajaj Auto said 2009 for manufacturing sector and services sector will be a very difficult year for India.

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

    27th February, 2009 12:49

    Continuous sell-off in rate sensitive, infrastructure, telecom, technology, oil and metal stocks is putting pressure on the benchmark indices. Broader indices have

  • FY09 GDP growth to be 7% or below: Grasim 

    27th February, 2009 12:38

    DD Rathi, MD, Grasim, feels GDP growth will be 7% or below this year. He feels this figure will be maintained in the coming year too.

  • Steel Authority tumbles 4.7%

    27th February, 2009 12:21

    SAIL had touched an intraday high of Rs 78.30 and an intraday low of Rs 73.50. At 12:21 pm, the share was quoting at Rs 73.80, down Rs 3.65, or 4.71%. It was tradi

  • ICICI Bank continues to fall

    27th February, 2009 12:05

    ICICI Bank has continued to fall. It had touched an intraday high of Rs 328.50 and an intraday low of Rs 312.25. At 11:56 am, the share was quoting at Rs 314, down

  • KNR Constructions JV bags order; stk up

    27th February, 2009 12:01

    KNR Constructions had touched an intraday high of Rs 39 and an intraday low of Rs 38.50. At 11:52 am, the share was quoting at Rs 38.50, up Rs 1.35, or 3.63%. The

  • S Kumars Nationwide up on buying interest

    27th February, 2009 11:56

    S Kumars Nationwide was trading with volumes of 1,025,806 shares. It had touched an intraday high of Rs 18.30 and an intraday low of Rs 16.25. At 11:48 am, the sha

  • See increased sales growth ahead in H2FY09: KS Oils 

    27th February, 2009 11:50

    Sanjay Agarwal of KS Oils expects the company’s sales to increase ahead - the company posted sales of Rs 2,200 crore in the first nine months. “Generally, in the e

  • MphasiS Q1 net profit at Rs 210 cr

    27th February, 2009 11:50

    MphasiS has announced its first quarter results. The company's Q1 net profit was at Rs 210 crore.

  • GAIL signs agreement with National Fert; stk slips

    27th February, 2009 11:41

    GAIL had touched an intraday high of Rs 203.45 and an intraday low of Rs 198.05. At 11:40 am, the share was quoting at Rs 199, down Rs 3.2, or 1.58% on the NSE. Th

  • Gas from GAIL likely by April 7: National Fertilisers 

    27th February, 2009 11:34

    GAIL has signed term sheets for supply of natural gas to National Fertilisers' Bhatinda, Nangal, and Panipat plants. VK Sharma of National Fertilisers said supply

  • Dismal Q3 GDP nos push mkts lower; all indices dip

    27th February, 2009 11:33

    The benchmark indices continue to slip further on the back of disappointing Q3 GDP numbers. The Q3 GDP came in at 5.3% as against 8.9% on Year-on-Year basis and 7.

  • TCS plunges 4.7%

    27th February, 2009 11:28

    TCS had touched an intraday high of Rs 484 and an intraday low of Rs 456. At 11:21 am, the share was quoting at Rs 458.90, down Rs 22.9, or 4.75%. It was tradi

  • ONGC among major losers

    27th February, 2009 11:13

    ONGC is among major losers on the Nifty. It had touched an intraday high of Rs 716 and an intraday low of Rs 690. At 11:13 am, the share was quoting at Rs 691.15,

  • ACC takes a dip

    27th February, 2009 11:07

    ACC had touched an intraday high of Rs 562 and an intraday low of Rs 525. At 10:59 am, the share was quoting at Rs 526.00, down Rs 33.65, or 6.01%. It was trading

  • Sterlite Industries melts down nearly 5%

    27th February, 2009 11:00

    Sterlite Industries had touched an intraday high of Rs 255 and an intraday low of Rs 240.30. At 10:51 am, the share was quoting at Rs 240.80, down Rs 12.2, or 4.82

  • Q3 GDP growth at 5.3%: Lowest in six years

    27th February, 2009 10:57

    The gross domestic product (GDP) growth for the third quarter has come in at 5.3% versus 8.9% during the same quarter last year.

  • Mkts drift down further on below expectations Q3 GDP nos

    27th February, 2009 10:51

    The benchmark indices have extended losses further, as Q3 GDP numbers came in below expectations. The gross domestic product (GDP) growth for the third quarter has

  • Block deal in SREI Infrastructure; stk gains 12%

    27th February, 2009 10:44

    SREI Infrastructure Finance had touched an intraday high of Rs 34.85 and an intraday low of Rs 29.25. At 10:36 am, the share was quoting at Rs 33.25, up Rs 3.55, o

  • SBI throws caution to wind, lends to SMEs 

    27th February, 2009 10:39

    The country's largest bank SBI rushes in where other banks are cautious to lend. The bank is planning to grow its SME loan book three fold this quarter as compared

  • Buy Ranbaxy with 9-12 month view: S Prasad 

    27th February, 2009 10:24

    Sanjeev Prasad, ED & Co Head at Kotak Securities is of the view that one can buy Ranbaxy Laboratories with 9-12 month view. The fair value of this company is more

  • Buy Jeera March between Rs 11150-11200: Bonanza

    27th February, 2009 10:19

    Bonanza has recommended to buy Jeera March in the range of Rs 11150-11200 with stoploss below Rs 11000 and target of Rs 11450-11550.

  • SBI looks weak: Mathew 

    27th February, 2009 10:11

    Technical Analyst, E Mathew is of the view that SBI is looking weak. It is moving towards Rs 850-870. It has the potential in the medium-term to go down to as low

  • Instanex FII Index opens listless

    27th February, 2009 10:05

    FIIs seem to be quite this morning. At 10am, the Instanex FII Index is down 0.48% at 200.44 while the Instanex DII 15 Portfolio is down just 0.14%, Nifty has lost

  • Sell USD March at 50.51-50.70: Bonanza

    27th February, 2009 10:00

    Bonanza has recommended to sell US Dollar March at 50.51-50.70 with stoploss above 50.95 and target of 50.

  • Mkts retreat marginally; ONGC, Bharti, Infy, NTPC, BHEL dip

    27th February, 2009 09:59

    The benchmark indices have retreated a bit and are trading lower on the back of weak global cues, amid volatility. Select banking, telecom, technology, power, capi

  • 2860-2870 crucial zone for breakout on Nifty: E Mathew 

    27th February, 2009 09:56

    E Mathew, Director, Mathew Easow Fiscal Services, said there is no clear cut signal though Nifty is outperforming the Dow. According to him, the clear cut signal f

  • Nifty likely to test 2823–2858: Angel

    27th February, 2009 09:48

    According to Angel Broking's Technical Analysis report, on the 30 min charts, markets are witnessing an Inverse Head and Shoulder formation, which suggests further

  • Nifty March 2500 Put adds 12.9 lakh shares in OI 

    27th February, 2009 09:44

    Market-wide rollover stood 75% versus average of 79% for past few series and Nifty Rollover at 76% versus average of 66% for past few series. Nifty March futures w

  • National Fertilizers has resistance at Rs 33-34: Mathew

    27th February, 2009 09:40

    Technical Analyst, E Mathew is of the view that National Fertilizers has resistance at Rs 33-34.

  • RBI Governor calls intra-credit policy meeting with bankers 

    27th February, 2009 09:39

    The Reserve Bank of India (RBI) Governor D Subbarao will meet bankers later today. The financial community is staying together in tough time that’s why the RBI Gov

  • Gold declines 2.4% to $942.60/oz, Copper trades @ 2-wk high

    27th February, 2009 09:30

    Copper is trading at 2-week high on weak dollar. Rebound in equity markets and lower LME inventory also supported the copper. It gained 13% YTD. Buying by China's

  • March series is dull traditionally 

    27th February, 2009 09:26

    As the market heads into a new series, the global cues remain subdued - the US markets have been down for two days. Flows, however, remain muted going into March.

  • Maytas Infra may hit few more circuits down 

    27th February, 2009 09:17

    The news may not be taken very well for Maytas Infra because now the talk of perspective sale of Maytas goes out of the window. And that’s why the stock is coming

  • Videocon Ind FY08 cons net profit at Rs 1099 cr

    27th February, 2009 09:11

    Videocon Industries has declared its results for the year ending September 2008. The company's consolidated net profit was at Rs 1099 crore versus Rs 699 crore on

  • Bank, realty seem to be trading with short bias: Nayak 

    27th February, 2009 09:05

    Rollovers were inline with past few expiries. Huge outstanding OI has been seen in 2700 Put and 2800 Call. If the Nifty trades above 2750, it should test 2850, San

  • Rupee hits record low of Rs 50.87 per dollar

    27th February, 2009 09:02

    The Indian Rupee opened at Rs 50.87 per dollar versus Rs.50.46 at close yesterday.

  • Rupee likely to remain weak: Greenback Forex

    27th February, 2009 08:53

    the rupee is likely to remain weak on month-end demand from oil companies and importers. Negative global cues will further dampen sentiment says Sharma.

  • Cos benefiting from govt packages will gain today: PN Vijay 

    27th February, 2009 08:43

    The market may open soft but is likely to firm up later. Companies benefiting from govt packages will gain. I like PSU banks at current levels, PN Vijay said.

  • Indian M&A deals saw $25bn valuation loss in 3 years: Study

    27th February, 2009 08:41

    Volatile capital markets are hurting the merger and acquisition deals done by listed Indian companies over the last three years. A recent report by SMC capitals sa

  • DoT wants audit report on RCom in 3 months

    27th February, 2009 08:36

    The Department of Telecom has asked the special auditors examining the books of Reliance Communication to submit its report within three months.

  • Order conversion into business slow: TCS

    27th February, 2009 08:33

    Drawing a bleak picture for the year ahead Mr S. Ramadaroi, Chief Executive Officer and Managing Director of the Tata Consultancy Services, said on Thursday that t

  • Market cues: FIIs net sell $112 mn

    27th February, 2009 08:31

    Market cues: FIIs net sell $112 million and MFs net buy Rs 130 crore on February 25.

  • Spot rubber declines further

    27th February, 2009 08:25

    Spot rubber declined further on Thursday. According to sources, the domestic market fell in the absence of follow up support from major consuming industries though

  • Support for Sensex at 8750-8630: Gaba

    27th February, 2009 08:24

    The support for the Sensex is 8750-8630 and the resistance to the up move is at 9030-9157.

  • Expect flat to negative opening: Gujral

    27th February, 2009 08:21

    Market may have flat to negative opening today. Supports are at 2700-2730 and resistance is at 2830-2860.

  • Crude hits one-month high, trades at $45/bbl 

    27th February, 2009 08:16

    Crude jumped to settle above USD 45 per barrel, a month high. Crude rose on expectations that the Organization of the Petroleum Exporting Countries (OPEC) will cut

  • US mkts fall as Obama proposed $1 trn in higher taxes

    27th February, 2009 08:14

    US markets plunged nearly 3% from day's high after US President Barack Obama proposed $1 trillion in higher taxes over 10-years & predicted $1.75 trillion

  • Asian markets trading firm; Nikkei, Hang Seng up

    27th February, 2009 08:04

    Asian markets were trading firm. Hong Kong's Hang Seng rose 0.69% or 89.56 points at 12,984.50. Japan's Nikkei advanced 0.71% or 53.27 points at 7,511.20. South Ko

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