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Moneycontrol News Archive : 10 June, 2009

  • NAVs advance sharply as mkts surge for 2nd straight day

    10th June, 2009 23:48

    Equity diversified NAVs closed sharply higher with advance:decline ratio of 242:6, as the benchmark indices staged spectacular performance for the second consecuti

  • Expert take: How govt can help boost affordable housing 

    10th June, 2009 21:18

    In a discussion with CNBC-TV18, Kumar Gera of Gera Developers and President of realty body Confederation of Real Estate Developers Association of India (Credai) an

  • QIPs a quicker, cheaper route to raise capital: Experts 

    10th June, 2009 20:31

    R Balachander, Ernst & Young QIPs are a quicker way to raise capital. He added that it was the perfect time for QIPs as there is a huge pent up demand for capital

  • Mkt rally backed by largecaps, +ve global cues 

    10th June, 2009 19:58

    A great follow up to yesterday’s rally, the Nifty jumped another 100 points, takes out the jinx of 4,600 and closes at 4,650. Largecap rallied today, with index st

  • US markets open higher; Dow up 62 points

    10th June, 2009 19:08

    At 19.05 hrs (IST)- The US markets opened higher. The Dow Jones Industrial Average was up 61.82 points, or 0.71%, to 8,826.31. The Nasdaq was up 8.98 points, or 0.

  • Buy Dewan Housing Fin, target of Rs 205: Motilal Oswal

    10th June, 2009 18:48

    Motilal Oswal has maintained its buy rating on Dewan Housing Finance Corporation with a target price of Rs 205. DHFL has been amongst the fastest growing HFC in th

  • Reduce Cummins India, target of Rs 237: Reliance Money

    10th June, 2009 18:26

    Reliance Money has assigned a reduce rating on Cummins India with a price target of Rs 237. Cummins India's comparable Q4FY09 net revenue and net profit reported d

  • A Raja calls PM: Five-year STPI extension on cards? 

    10th June, 2009 18:19

    The IT & Communications Ministry is learned to be pushing for quick decisions on pending policy matters. A Raja called on the Prime Minister Manmohan Singh earlier

  • Crude has immediate resistance at $73-75/bbl 

    10th June, 2009 18:14

    The hurricane, geopolitical concerns, US driving season all had a positive influence on the crude prices. The markets put an immediate resistance around USD 73-75

  • Buy Sun Pharma, target of Rs 1580: Bonanza

    10th June, 2009 18:00

    Bonanza has recommended a buy rating on Sun Pharmaceutical Industries with a target price of Rs 1580. Sun Pharma posted net sales for the quarter ended March'09 on

  • Rupee has support at 46.9-47/$: Commtrendz

    10th June, 2009 17:48

    According to Commtrendz Research's report on Indian Rupee, immediate supports are at 46.9-47 followed by 46.60-46.7. Immediate resistance falls around 47.60-47.7 f

  • IOB to meet on Jun 15 to decide on rate cuts  

    10th June, 2009 17:43

    SA Bhat, CMD, Indian Overseas Bank said that the bank’s ALCO (Asset Liability Committee) would meet on June 15 and have a re-look at the bank’s cost structure and

  • CV segment to pick up by Q3 this year: ANG Auto 

    10th June, 2009 17:33

    Premjit Singh, MD of ANG Auto said that the company was hit badly in the last two quarters but he expected the commercial vehicle segment to pick up by the third q

  • Buy crude around Rs 3,350-3,330/bbl: Motilal Oswal 

    10th June, 2009 17:21

    Kuljeet Kataria, Motilal Oswal Securities said, crude oil prices are running at seven-month highs on the back of declining dollar and economic optimism. “I think,

  • Instanex FII Index up 1.94%

    10th June, 2009 16:59

    FIIs did not seem to be major buyers of Indian shares today. At close, the Instanex FII Index was up 1.94%% at 327.65 (+1.91% at 3 pm) while the Instanex DII 15 po

  • NSE to make change in Nifty Midcap 50

    10th June, 2009 16:56

    The National Stock Exchange (NSE) will made change in the constituent of Nifty Midcap 50 index w.e.f. June 26, 2009.

  • Now, more options to pay loan EMIs 

    10th June, 2009 16:45

    With banks cutting rates, for the first time, home owners will be faced with the prospect of falling equated monthly installments (EMIs). CNBC-TV18’s Neha Bothra r

  • Accumulate Tech Mahindra, target of Rs 845: Angel Broking

    10th June, 2009 16:43

    Angel Broking has upgraded its rating on Tech Mahindra from neutral to accumulate with a target price of Rs 845. On a consolidated basis, net sales stood at Rs 2,4

  • Reduce Thermax, target of Rs 375: Reliance Money

    10th June, 2009 16:37

    Reliance Money has recommended a reduce rating on Thermax, with price target of Rs 375. Thermax has reported Q4FY09 standalone net revenue increase of 3% y-o-y whi

  • Stay invested in Satyam, Tech Mahindra: Choksey 

    10th June, 2009 16:28

    Deven Choksey of KR Choksey Securities is of the view that one can stay invested in Satyam, Tech Mahindra.

  • Enter in NIIT, Aptech on corrections: Sukhani 

    10th June, 2009 16:24

    Technical Analyst, Sudarshan Sukhani is of the view that one can enter in NIIT and Aptech on correction.

  • Buy Patel Engg, target of Rs 550: Fairwealth Sec

    10th June, 2009 16:05

    Fairwealth Securities has maintained its buy rating on Patel Engineering with a price target of Rs 550. It has registered steady growth in 3QFY2009. Consolidated s

  • Why is India Inc taking the QIP route? SMC Cap explains 

    10th June, 2009 15:43

    Jagannadham T, Equity Head, SMC Capitals, said QIPs have found market favour as it is a quick way to raise capital. “In case of an IPO, follow-on public offering),

  • Mkts end 2% up on +ve global cues; commodities, infra gain

    10th June, 2009 15:34

    The benchmark indices staged spectacular performance for the second consecutive day on the back of positive global cues. Strong upmove in commodities and infrastru

  • IVRCL Infrastructure soars high

    10th June, 2009 15:27

    IVRCL Infrastructure and Projects touched an intraday high of Rs 375.80 and an intraday low of Rs 340.40. At 3:24 pm, the share was quoting at Rs 368.65, up Rs 29,

  • Order book has crossed Rs 5,000cr: Voltas 

    10th June, 2009 15:17

    MM Miyajiwala, Executive VP and CFO, Voltas, said the company was present in three business segments. “As on March 31, we had an order book of Rs 4,700 crore of wh

  • Opto Circuits has target of Rs 250: Sethi 

    10th June, 2009 15:13

    Vikas Sethi of Sethi Finmart is of the view that Opto Circuits has target of Rs 250. They had acquired two companies last year, Eurocor in German and Criticare in

  • Prithvi Information plunges 9.7%

    10th June, 2009 15:05

    Prithvi Information Solutions touched an intraday high of Rs 83.45 and an intraday low of Rs 72.90. At 3:01 pm the share was quoting at Rs 72.90, down Rs 7.85, or

  • Mkts surge; infrastructure, metal, cement, FMCG rally

    10th June, 2009 15:00

    At 14:55 hours IST - the benchmark indices were witnessing huge buying interest, as shares of infrastructure, oil & gas exploration, telecom (barring Idea), metal,

  • Prism Cement up on buying interest

    10th June, 2009 14:52

    Prism Cement has touched a 52-week high of Rs 46.75. At 2:48 pm, the share was quoting at Rs 44.85, up Rs 5.45, or 13.83%. It was trading with volumes of 9,714,290

  • Satyam's nos, positive orderbook guidance boost L&T 

    10th June, 2009 14:46

    Satyam, which surprised the street with better-than-expected numbers on Monday, has resulted in a boost for infrastructure major Larsen & Toubro too, which has a s

  • Bhushan Steel has target of Rs 975: Deshmukh 

    10th June, 2009 14:41

    Akshata Deshmukh of Asian Markets Securities is of the view that Bhushan Steel has target of Rs 975.

  • Instanex FII Index up 2.74%

    10th June, 2009 14:39

    At 2 pm, the Instanex FII Index was up 2.74% at 330.21 (+2.49% at 1 pm) and the Instanex DII 15 portfolio was up 3.04% (+2.77% at 1 pm).

  • ACC extends gain

    10th June, 2009 14:28

    ACC touched a 52-week high of Rs 893. At 2:23 pm, the share was quoting at Rs 888.20, up Rs 36.85, or 4.33%. It was trading with volumes of 159,674 shares. Yesterd

  • HCL Technologies surges 6%

    10th June, 2009 14:16

    HCL Technologies touched an intraday high of Rs 213.45 and an intraday low of Rs 196.70. At 2:12 pm, the share was quoting at Rs 206, up Rs 11.75, or 6.05%. It was

  • Mkts rally; RIL, Infy, L&T, ICICI Bank, ONGC gain

    10th June, 2009 14:04

    The markets continued trading strong as capital goods, power, banks, metals, FMCG, pharma and oil & gas stocks were witnessing strong buying interest. Reliance, In

  • BHEL hits 52-week high

    10th June, 2009 13:55

    BHEL touched a 52-week high of Rs 2,349. At 1:51 pm, the share was quoting at Rs 2,342, up Rs 93.20, or 4.14%. It was trading with volumes of 169,071 shares. Yeste

  • Videocon Ind locked at 10% upper circuit

    10th June, 2009 13:44

    At 1:40 pm, Videocon Industries was locked at 10% upper circuit. It touched an intraday high of Rs 196.60 and an intraday low of Rs 180.45. The share was quoting a

  • Concrete gain for India Cements

    10th June, 2009 13:36

    India Cements touched an intraday high of Rs 169.40 and an intraday low of Rs 160.65. At 1:32 pm, the share was quoting at Rs 168.05, up Rs 7.65, or 4.77%. It was

  • Kotak Mahindra Bank minting money

    10th June, 2009 13:31

    Kotak Mahindra Bank touched a 52-week high of Rs 726. At 1:27 pm, the share was quoting at Rs 720.80, up Rs 38.05, or 5.57%. It was trading with volumes of 434,688

  • JSW Steel gushes forth

    10th June, 2009 13:21

    JSW Steel touched an intraday high of Rs 607.50 and an intraday low of Rs 558.40. At 1:16 pm, the share was quoting at Rs 593.10, up Rs 38.20, or 6.88%. It was tra

  • Satyam can touch Rs 80-85: Mohindar 

    10th June, 2009 13:07

    Rahul Mohindar of Viratechindia said that, “Tech Mahindra is good for another 10% or Satyam too could move to something like Rs 80-85. But when you reach those lev

  • Mkts bullish on +ve European cues; Nifty above 4650

    10th June, 2009 12:59

    At 12:53 hours IST - the relentless buying in shares of oil & gas exploration, infrastructure, metal, telecom, financial and technology stocks was keeping the mark

  • European markets trading higher; CAC, DAX gain

    10th June, 2009 12:47

    At 12: 45 pm (IST), European markets were trading higher. CAC 40 was up 1.70% or 56.12 points at 3,352.85. DAX gained 1.30% or 65.11 points at 5,062.97. FTSE 100 r

  • FM asks banks to cut interest rates further 

    10th June, 2009 12:42

    The newly elected Union Finance Minister Pranab Mukherjee said that the impact of stimulus steps might turn around the economy in the near term as the government w

  • Tech Mahindra may reach Wipro's valuations soon 

    10th June, 2009 12:24

    If the current market groove continues then that would lead Tech Mahindra to gravitate towards the higher end of the valuations spectrum. The way it is moving, it

  • How should you trade Satyam, Tech Mahindra now? 

    10th June, 2009 12:15

    Satyam has declared its numbers for the quarter ended October-December 2008. Its October-December standalone net profit stood at Rs 181 crore and its revenue from

  • Wipro continues to gain

    10th June, 2009 12:08

    Wipro touched an intraday high of Rs 444.60 and an intraday low of Rs 424.40. At 12:04 pm, the share was quoting at Rs 442.65, up Rs 18.90, or 4.46%. It was tradin

  • Mkts strong; ONGC, RIL, HDFC, L&T, SAIL, HDFC Bk lead

    10th June, 2009 12:00

    At 11:53 hours IST, the markets were witnessing huge buying interest despite seeing some selling pressure at higher levels. Shares of oil & gas exploration, capita

  • DSP Blackrock MF bullish on infra space for long term 

    10th June, 2009 11:57

    Anup Maheshwari of DSP Blackrock MF said, "From a long-term point of view we are positive on infrastructure space."

  • SAIL makes a solid gain

    10th June, 2009 11:47

    SAIL touched an intraday high of Rs 176 and an intraday low of Rs 168. At 11:46 am, the share was quoting at Rs 173, up Rs 7, or 4.22%. It was trading with volumes

  • Tata Power flares up

    10th June, 2009 11:31

    Tata Power Company touched an intraday high of Rs 1,221.85 and an intraday low of Rs 1,149.80. At 11:28 am, the share was quoting at Rs 1,217.50, up Rs 77.20, or

  • Satyam's fair value at Rs 100 per share: JPMorgan 

    10th June, 2009 11:22

    Bhavin Shah, Managing Director, JP Morgan, seems positively surprised by Satyam’s margins. Satyam's quarterly revenue, he said, can decline to Rs 1500 crore per qu

  • Banking stocks an excellent bet for long term: M Thacker 

    10th June, 2009 11:02

    Mitesh Thacker, Technical Analyst, miteshthacker.com is of the view that banking space is looking an excellent bet from longer term perspective.

  • Rolta has target of Rs 165: M Thacker 

    10th June, 2009 10:56

    Mitesh Thacker, Technical Analyst, miteshthacker.com is of the view that once Rolta manages to move above Rs 150, it has target of Rs 165.

  • Sensex tests 15500; Metal, Cap Goods, Power indices up 3.5%

    10th June, 2009 10:49

    At 10:45 hours IST, huge buying in metal, infrastructure (capital goods and power), realty, auto, banking and oil & gas stocks was helping the markets to extend cu

  • Sterlite Industries advances 5.5%

    10th June, 2009 10:38

    Sterlite Industries touched an intraday high of Rs 695 and an intraday low of Rs 662. At 10:34 am, the share was quoting at Rs 690, up Rs 36.15, or 5.53%. It was t

  • Instanex FII Index up 1.86%

    10th June, 2009 10:32

    At 10 am, the Instanex FII Index was up 1.86% at 327.40 and the Instanex DII 15 portfolio was up 2.13%. Sensex was up 2.48% and Nifty was up 1.81%.

  • Bharti Airtel in pact with Comviva; stk up

    10th June, 2009 10:24

    Bharti Airtel touched an intraday high of Rs 824.90 and an intraday low of Rs 791. At 10:19 am, the share was quoting at Rs 818.50, up Rs 5.70, or 0.70%. The compa

  • Reliance Infra among major gainers

    10th June, 2009 10:18

    At 10:14 am, Reliance Infrastructure was among major gainers on the Sensex. It touched an intraday high of Rs 1,231 and an intraday low of Rs 1,160. The share was

  • Larsen witnesses buying interest

    10th June, 2009 10:12

    Larsen and Toubro touched an intraday high of Rs 1,680 and an intraday low of Rs 1,599.70. At 10:08 am, the share was quoting at Rs 1,667.30, up Rs 93.50, or 5.94%

  • Shri Lakshmi approves Rs 1200cr capex plan; stk down

    10th June, 2009 10:07

    Shri Lakshmi Cotsyn touched an intraday high of Rs 58 and an intraday low of Rs 56.20. At 10:03 am, the share was quoting at Rs 58, down Rs 1.15, or 1.94%. The com

  • Buy Copper MCX June Fut at Rs 246.95: Hem

    10th June, 2009 10:04

    Hem Securities has recommended to buy Copper MCX June Future at Rs 246.95 with a stoploss of Rs 241 and a target of Rs 255.

  • Momentum to continue, see Nifty at 4,790: Mitesh Thacker 

    10th June, 2009 10:01

    Technical Analyst Mitesh Thacker from miteshthacker.com believes 4,600 is the level where crucial supply would come in. “To go up and continue the momentum on the

  • Tech Mahindra surges 10.5%

    10th June, 2009 09:59

    Tech Mahindra touched an intraday high of Rs 825 and an intraday low of Rs 755. At 09:59 am, the share was quoting at Rs 822.55, up Rs 78.55, or 10.56% on the NSE.

  • Nifty above 4600 led by infrastructure, metals, financials

    10th June, 2009 09:50

    The markets opened on a strong note on the back of positive Asian cues and continued their uptrend for the second straight day. Metal, infrastructure, realty and s

  • IDBI Bank has target of Rs 119: M Thacker 

    10th June, 2009 09:48

    Mitesh Thacker, Technical Analyst, miteshthacker.com is of the view that IDBI Bank has target of Rs 119. It has moved up very nicely yesterday and is now very clos

  • Buy Gold August around Rs 14550: Bonanza

    10th June, 2009 09:46

    Bonanza has recommended to buy Gold August at around Rs 14550 with stoploss below Rs 14475 and target of Rs 14660-14750.

  • Sensex may test 15260-15320: Angel

    10th June, 2009 09:37

    According to Angel Broking's Technical Analysis report, on the upside if indices trade convincingly above 15161 / 4562 then it is likely to test 15260 – 15320 / 46

  • Satyam's nos restore investors' confidence:Udayan Mukherjee 

    10th June, 2009 09:36

    Udayan Mukherjee, Managing Editor, CNBC-TV18 said Satyam's numbers have restored confidence among the brokerage firms and the investors. The data was better than w

  • Nifty has resistance at 4585: Reliance Money

    10th June, 2009 09:30

    According to Reliance Money's Morning Notes, as for today’s trade, support for the day exists far lower around levels of 4490-4500 range. While hurdle continues to

  • Book profits and exit from long position: FinQuest Sec

    10th June, 2009 09:23

    According to FinQuest Securities' report, one should book profits and exit from long positions.

  • Now, stock exchanges, MFs under RTI umbrella 

    10th June, 2009 09:19

    CNBC-TV18’s Priyal Guliani reports that in a landmark judgement, the Central Information Commission (CIC) has brought stock exchanges, brokers, and mutual funds un

  • Mayajaal IPO gets least grade from CARE

    10th June, 2009 09:15

    Rating agency CARE has assigned the initial public offering of Mayajaal Entertainment the least grade (Grade 1), which indicates “poor fundamentals”, reports The H

  • Budget expectations to drive mkt sentiment: Tata MF 

    10th June, 2009 09:14

    Ved Prakash Chaturvedi, Managing Director, Tata Mutual Fund, said factors such as expectations from the Budget, the Prime Minister’s statement on growth, etc will

  • Pre-budget rally can extend upto 4,900-5,000: IL&FS 

    10th June, 2009 09:01

    A pre-budget rally can get extended on the Nifty upto 4,900-5,000. Satyam looks good post unaudited numbers. Focus is likely to be back on large caps in the near-t

  • 10-year yield seen between 6.65-6.70%: HDFC Bank

    10th June, 2009 08:56

    Ashish Vaidya, HDFC Bank, expects the bond market to be rangebound. The range for the 10-year yield is seen between 6.65-6.70%.

  • Rupee may range between 47.35-47.55: Verity Analytics

    10th June, 2009 08:55

    According to Vikram Nanivadekar, Verity Analytics, the pullback in the dollar is a positive for the rupee, but rising crude prices and flat global equities may wei

  • Infosys BPO looks for rural partners

    10th June, 2009 08:49

    As part of its concerted bid to tap the rapidly growing domestic market, Infosys BPO, the back office outfit of Infosys Technologies Ltd proposes to tie-up with th

  • GM bets big on mini-car for India

    10th June, 2009 08:42

    General Motors India is betting big on its global mini-car that is scheduled to debut towards the end of this calendar.

  • Nifty has resistance at 4620-4789: Gaba

    10th June, 2009 08:33

    The support for the Sensex is 15000 and the resistance to the up move is at 15480-16046. The support for the Nifty is at 4500 and the resistance to the up move is

  • Stocks in news: HDFC, ING Vysya Bank, Merck, HCC

    10th June, 2009 08:28

    HDFC, ING Vysya Bank, Merck, HCC, Shri Lakshmi Cotsyn, Satyam, Tata Motors, Asian Electronics and Aro Granite are stocks, which are in the news today.

  • ONGC Mittal to start exploration in Nigeria soon

    10th June, 2009 08:27

    ONGC Mittal Energy Ltd (OMEL) intends to start the first phase of hydrocarbon exploration in Nigeria by August in OPL-285.

  • BO Report: A big thumbs down

    10th June, 2009 08:23

    Team - The Force, Anubhav and Maruti Mera Dosst failed to evoke interest

  • Market cues: NSE F&O Open Int up by Rs 3139 cr

    10th June, 2009 08:22

    Market cues: NSE F&O Open Int up by Rs 3,139 crore at Rs 77,312 crore.

  • FIIs net buy Rs 955.31 cr in equities on Tuesday (prov) 

    10th June, 2009 08:16

    The markets made an excellent comeback and recovered all of Monday's losses to close at day's high. FIIs were net buyers to the tune of Rs 955.31 crore while DIIs

  • US semiconductor Index climbs 4.5% 

    10th June, 2009 08:11

    US semiconductor Index climbed 4.5% post Texas Instruments raising outlook. Texas Instruments shot up 6.3%. The company raised its earnings and revenue targets for

  • Asia trading higher; Hang Seng, Nikkei up

    10th June, 2009 08:04

    At 8: 02 am (IST), Asian markets were trading higher. China's Shanghai Composite was up 0.78% or 21.65 points at 2,809.54. Hong Kong's Hang Seng gained 1.74% or 31

  • L&T to sell UltraTech Cement stake on Thursday: Sources 

    10th June, 2009 21:36

    Larsen & Toubro will sell its stake in UltraTech Cement on Thursday, reports CNBC-TV18 quoting sources. The stake sale would take place via book-building process w

  • BPO player look to increase focus on India ops 

    10th June, 2009 20:41

    The second day of the Nasscom BPO saw a lot of top BPO players including Genpact and Aegis said they were looking at significantly increasing their focus on India

  • Nuke deal windfall: Int'l banks woo NPC with funds 

    10th June, 2009 20:11

    The Indo-US nuclear deal has opened new fund-raising doors for state-owned Nuclear Power Corporation (NPC). For the first time since inception, it plans to raise m

  • SBI, Bank of Maharashtra indicate rate cuts post FM meet 

    10th June, 2009 19:27

    Finance Minister Pranab Mukherjee today had a quarterly review meeting of the performance of the public sector banks (PSBs) across all parameters. The issue of int

  • FIIs net buy Rs 990.70 cr in equities on June 9

    10th June, 2009 18:59

    On June 09, 2009, foreign institutional investors (FIIs) were net buyers to the tune of Rs 990.70 crore in equities. They made gross purchase of Rs 3815.30 crore a

  • Mkt may reach 4750 if 4610 holds: KR Choksey Sec 

    10th June, 2009 18:37

    Deven Choksey of KR Choksey said the Nifty may face profit booking at current levels, 4,660, but added that if it manages to stay above 4,610, it may proceed to 4,

  • Tata Tea FY09 standalone PAT at Rs 159.06 cr

    10th June, 2009 18:20

    Tata Tea has announced its FY09 numbers. Its standalone net sales stood at Rs 1,361.53 crore and net profit at Rs 159.06 crore.

  • Buy Thermax, target of Rs 460: Bonanza

    10th June, 2009 18:18

    Bonanza has recommended a buy rating on Thermax with a price target of Rs 460. Thermax is Indian engineering MNC providing solutions in Energy and Environment sect

  • Baroda Pioneer launches Treasury Advantage Fund

    10th June, 2009 18:08

    Baroda Pioneer AMC launches Baroda Pioneer Treasury Advantage Fund, which has a credit risk rating of mfA1+ from ICRA, aims to provide optimal returns and liquidit

  • Markets end strong: Nirmal Bang

    10th June, 2009 17:53

    According to Nirmal Bang's report, the benchmark indices ended on a very strong note for the second consecutive day on the back of positive Asian and European cues

  • Rupee ends higher, bonds lower

    10th June, 2009 17:44

    The Indian rupee ended higher as banks sold dollars for FIIs noting that shares ended firm and dollar fell overseas. But, dollar demand from importers and oil comp

  • Hold Divis Labs, target of Rs 1089: Emkay Global

    10th June, 2009 17:35

    Emkay Global Financial Services has maintained its hold rating on Divis Laboratories with a target price of Rs 1089. Divi’s reported revenue of Rs 3.2 billion (up

  • Buy Gujarat Industries Power, target of Rs 130: IIFL

    10th June, 2009 17:30

    IIFL has maintained its buy rating on Gujarat Industries Power Co with a target price of Rs 130. GIPCL may undertake some CSR projects instead of direct payment to

  • Maytas Infra seeks Rs 800cr additional funding from banks 

    10th June, 2009 17:00

    The promoters of Maytas infrastructure are seeking more time from lenders to make equity investments worth Rs 30-40 crore. CNBC-TV18 learns that Teja Raju and fami

  • Buy Coromandel Fertilisers, target of Rs 263: Emkay Global

    10th June, 2009 16:59

    Emkay Global Financial Services has maintianed its buy rating on Coromandel Fertilisers with a price target of Rs 263. Despite the recent upsurge in the stock pric

  • Hold Sesa Goa, target of Rs 195: Reliance Money

    10th June, 2009 16:49

    Reliance Money has recommended a hold rating and buy at declines on Sesa Goa with a target price of Rs 195. Rio- Tinto and BHP- Billiton have stunned the world by

  • LIC Housing Fin builds up 35% in open interest 

    10th June, 2009 16:44

    On the Nifty front, the premium was sustaining around 7-8 points. LIC Housing Finance saw good build up of nearly 35% in open interest.

  • Need more fiscal stimulus: Montek Singh Ahluwalia 

    10th June, 2009 16:40

    Deputy Chairman of the Planning Commission Montek Singh Ahluwalia feels that the economy needs more fiscal stimulus. He added that it was for the Finance Ministry

  • Vishal Information Tech to buy 3 European cos in 3 months 

    10th June, 2009 16:36

    Dilip Parekh, ED of Vishal Information Technologies, said the company was looking to buy out three companies in Europe. “We have identified three companies and hav

  • Fame India a marketperformer: Karvy

    10th June, 2009 16:24

    Karvy Stock Broking has maintained its marketperformer rating on Fame India with a price target of Rs 26. Net sales of the company grew by 33% YoY (lower than expe

  • Hold Aditya Birla; target of Rs 968: Sharekhan

    10th June, 2009 16:14

    Sharekhan has downgraded its rating on Aditya Birla Nuvo to hold with a price target of Rs 968. Aditya Birla Nuvo's board of directors has decided to issue 1.85 cr

  • Dhanalakshmi Bank to raise Rs 4000cr capital in 4-5 years 

    10th June, 2009 16:00

    Amitabh Chaturvedi, CEO and MD, Dhanalakshmi Bank, said the bank is raising Rs 3000-4000 crore in capital over the next four to five years. "This will be used for

  • See Rs 100cr turnover from SPV biz this yr: Surana Telecom 

    10th June, 2009 15:40

    Commenting on the company's foray into solar equipment production, Narender Surana of Surana Telecom said this year they are targeting about 25–30% capacity utilis

  • China's auto sales numbers boost commodities 

    10th June, 2009 15:28

    Base metals like copper, nickel, zinc, lead, tin, all of them are trading at 2009 highs, aluminum is just on the brink of a breakout there, auto sales from China s

  • Focus on valuations, don't ride momentum: Birla Sun Life 

    10th June, 2009 15:23

    Balasubramanian cautioned investors against getting carried away with momentum and recommended keeping a clear focus on the clear focus on valuations.

  • Punj Lloyd moves further up

    10th June, 2009 15:15

    Punj Lloyd touched an intraday high of Rs 226.35 and an intraday low of Rs 214.15. At 3:10 pm, the share was quoting at Rs 222.25, up Rs 9.50, or 4.47%. It was tra

  • Sintex India has target of Rs 350: Sethi 

    10th June, 2009 15:10

    Vikas Sethi of Sethi Finmart is of the view that Sintex India has target of Rs 350. The company has a very strong balance sheet with around Rs 1,700 crore in cash

  • Asian markets end higher; Hang Seng up 4%

    10th June, 2009 15:04

    Asian markets ended higher. China's Shanghai Composite gained 1.02% or 28.36 points at 2,816.247. Hong Kong's Hang Seng advanced 4.03% or 727.17 points at 18,785.6

  • ITC, Bharti Airtel, Punj Lloyd top buys: HDFC MF

    10th June, 2009 14:53

    HDFC Mutual Fund reduced its exposure to food & beverages, auto and chemical while increased its exposure to engineering & capital Goods, Telecommunication and med

  • Kotak Mahindra can test Rs 780: Deshmukh 

    10th June, 2009 14:47

    Akshata Deshmukh of Asian Markets Securities is of the view that Kotak Mahindra can test Rs 780 in the near term. Yes Bank is consolidating very well above Rs 125

  • Ispat sheds 40 lakh shares in OI 

    10th June, 2009 14:41

    Ispat shed 40 lakh shares, Jaiprakash Hydro shed 36 lakh shares and Cairn India shed 11 lakh shares in OI.

  • Need new approaches to divestment: E&Y

    10th June, 2009 14:40

    Divesting has always been an important part of corporate development but in today’s economic climate it is absolutely central to corporate strategy. Unprecedented

  • Biocon has target of Rs 325: Deshmukh

    10th June, 2009 14:38

    Akshata Deshmukh of Asian Markets Securities is of the view that Biocon has target of Rs 325 because the price volume action in this chart also supports the same.

  • Educomp Solutions marches ahead

    10th June, 2009 14:23

    Educomp Solutions touched an intraday high of Rs 3,144.00 and an intraday low of Rs 2,960. At 2:18 pm, the share was quoting at Rs 3,127.50, up Rs 192.80, or 6.57%

  • IDFC maintains its march ahead

    10th June, 2009 14:13

    IDFC touched an intraday high of Rs 139.80 and an intraday low of Rs 132.05. At 2:09 pm, the share was quoting at Rs 137.20, up Rs 6.10, or 4.65%. It was trading w

  • Exuberance in Satyam will stop at Rs 75-76: Tulsian 

    10th June, 2009 14:00

    Investment Advisor SP Tulsian is of the view that the irrational exuberance should stop in Satyam maybe at a level of Rs 75-76, though it is frozen upward today at

  • HUL adds 13 lakh shares in open interest 

    10th June, 2009 13:50

    The Nifty added nearly 25 lakh shares in OI and the premium was still holding up nearly 6-7 point. Hindustan Unilever (HUL) was up nearly Rs 10 with a build up of

  • S Kumars makes smart gain

    10th June, 2009 13:41

    S Kumars Nationwide touched an intraday high of Rs 51.85 and an intraday low of Rs 48.25. At 1:38 pm, the share was quoting at Rs 51.75, up Rs 2.45, or 4.97%. It w

  • Instanex FII Index up 2.16%

    10th June, 2009 13:36

    At 1 pm, the Instanex FII Index was up 2.49% at 329.434 (+1.78% at 12 noon) and the Instanex DII 15 portfolio was up 2.77% (+2.20% at 12 noon).

  • Dr Reddys Lab touches 52-week high

    10th June, 2009 13:28

    At 1:24 pm, Dr Reddys Laboratories touched a 52-week high of Rs 755. It touched an intraday high of Rs 755 and an intraday low of Rs 716. The share was quoting at

  • ABB gains further ground

    10th June, 2009 13:08

    ABB touched an intraday high of Rs 783.60 and an intraday low of Rs 740. At 1:04 pm, the share was quoting at Rs 770, up Rs 34.15, or 4.64%. It was trading with vo

  • Cairn India advances 4.5%

    10th June, 2009 13:02

    Cairn India touched an intraday high of Rs 259.45 and an intraday low of Rs 251.50. At 12:58 pm, the share was quoting at Rs 257.90, up Rs 11.15, or 4.52%. It was

  • Kotak Mahindra picks cement, engg; sells tobacco, bank

    10th June, 2009 12:51

    Kotak Mahindra Asset Management Company enhanced its exposure to cement & construction, real estate and engineering & capital goods space. However, it slashed its

  • Instanex FII Index up 1.78%

    10th June, 2009 12:47

    At 12 noon, the Instanex FII Index was up 1.78% at 327.15 (+2.01% at 11 am) and the Instanex DII 15 portfolio was up 2.20% (+2.55% at 11 am).

  • HDIL slips on profit booking

    10th June, 2009 12:39

    HDIL touched an intraday high of Rs 293.50 and an intraday low of Rs 268.15. At 12:33 pm, the share was quoting at Rs 272.90, down Rs 10.95, or 3.86%. It was tradi

  • Tata Tele unveils new brand, stock rises

    10th June, 2009 12:19

    TataTeleservice touched an intraday high of Rs 38.50 and an intraday low of Rs 36.30. At 12:14 pm, the share was quoting at Rs 37.90, up Re 1, or 2.71%. NTT DoCoMo

  • ONGC maintains its march ahead

    10th June, 2009 12:13

    ONGC touched an intraday high of Rs 1,182.00 and an intraday low of Rs 1,131.40. At 12:09 pm, the share was quoting at Rs 1,178.50, up Rs 47.10, or 4.16%. It was t

  • JPMorgan overweight on Satyam 

    10th June, 2009 12:07

    Bhavin Shah of JPMorgan said, "Satyam is now an investable stock in our view and we have reinitiated with an 'overweight' and a price target of Rs 100."

  • JM Financial extends losses

    10th June, 2009 12:00

    At 11:55 am, JM Financial was frozen at 5% lower circuit. It touched an intraday high of Rs 60.50 and an intraday low of Rs 54.80. The share was quoting at Rs 54.8

  • ING likely to sell ING Vysya Bank; stk up

    10th June, 2009 11:53

    ING Vysya Bank touched an intraday high of Rs 198.80 and an intraday low of Rs 174.95. At 11:47 am, the share was quoting at Rs 186.30, up Rs 15.80, or 9.27%. Acco

  • Instanex FII Index up 2.01%

    10th June, 2009 11:46

    At 11 am, the Instanex FII Index was up 2.01% at 327.86 (+1.86% at 10 am) and the Instanex DII 15 portfolio was up 2.55% (+2.13% at 10 am). Nifty was up 2.63% (+1.

  • Need duty structure to avoid dumping: JSW Steel 

    10th June, 2009 11:28

    Seshagiri Rao, Joint Managing Director and Group CFO, JSW Steel, feels exports from China are likely to increase after the export rebate. He stated that the duty s

  • Indian GDRs: Satyam up 33.8%, Mahindra up 10.3%

    10th June, 2009 11:09

    Indian GDRs: Satyam, Mahindra, Ranbaxy, L&T, Infosys, Dr Reddys, Gail, RIL, SBI and Tata Comm surged, while Grasim fell.

  • Yes Bank forges ahead

    10th June, 2009 10:57

    Yes Bank touched an intraday high of Rs 136 and an intraday low of Rs 132. At 10:56 am, the share was quoting at Rs 135.75, up Rs 6, or 4.62%. It was trading with

  • Infrastructure stks may correct in short term: Chaturvedi 

    10th June, 2009 10:53

    Ved Prakash Chaturvedi, MD, Tata Mutual Fund is of the opinion that one bright spot in the Indian market over the next 5 years and 3 years will continue to be infr

  • Mkts to see 20% pullback in short term: Superfund Fin 

    10th June, 2009 10:40

    Speaking on equities, Aaron Smith, Managing Director, Superfund Financial, said a pullback of 20% is expected in equity markets shortly. He said he is very cautiou

  • Rally has more steam, see sideways trade: Forsyth Partners 

    10th June, 2009 10:33

    Jacqueline Aldhous of Forsyth Partners sees more steam left in India. “Markets are likely to trade sideways with bouts of intermediate profit taking.”

  • Upside left in Infosys: M Thacker

    10th June, 2009 10:31

    Mitesh Thacker, Technical Analyst, miteshthacker.com is of the view that Infosys is trading close to a technical supply area of around Rs 1,800 and there is still

  • Correction would be healthy for mkts now: DSP BlackRock MF 

    10th June, 2009 10:24

    Anup Maheshwari, DSP BlackRock MF said overseas investors were long term positive but were skeptical about getting in at these levels. “Midcaps have shown a decent

  • Asian Elect board meet to consider fund raising; stk up

    10th June, 2009 10:15

    Asian Electronic touched an intraday high of Rs 50.70 and an intraday low of Rs 48. At 10:10 am, the share was quoting at Rs 49.95, up Rs 1.65, or 3.42%. The compa

  • HDFC Bank top gainer on the Nifty

    10th June, 2009 10:10

    At 10:09 am, HDFC Bank was the top gainer on the Nifty. It touched a 52-week high of Rs 1,549. The share was quoting at Rs 1,503.35, up Rs 83.10, or 5.85%. It was

  • HDFC to raise Rs 4000cr via NCDs; stk gains

    10th June, 2009 10:05

    HDFC touched an intraday high of Rs 2,455 and an intraday low of Rs 2,392. At 10:01 am, the share was quoting at Rs 2,425, up Rs 69.60, or 2.95%. The company is go

  • Satyam locked at 10% upper circuit

    10th June, 2009 10:02

    At 10 am, Satyam Computer Services was locked at 10% upper circuit. It touched an intraday high of Rs 73.50 and an intraday low of Rs 73.50. The share was quoting

  • ISB's Mohali campus plan hits hurdle

    10th June, 2009 10:01

    The Indian School of Business’ plans to set up a new campus at Mohali has hit a hurdle as the state government has held back 70 acres of land allotted to the insti

  • Sesa Goa has target of Rs 200: M Thacker 

    10th June, 2009 09:51

    Mitesh Thacker, Technical Analyst, miteshthacker.com is of the view that Sesa Goa has target of Rs 200. It is a good stock to trade long, even fresh longs can be t

  • Parliamentary Comm tables report on stock mkt scam 

    10th June, 2009 09:49

    The Finance Minister tabled the twelfth progress report on the action taken in the stock market scam on the recommendation of the Joint Parliamentary Committee (JP

  • ING may sell its stake in ING Vysya Bank: Sources 

    10th June, 2009 09:47

    Is ING looking to exit India? CNBC-TV18’s Latha Venkatesh reports that the rumour stems from a presentation made by ING to international investors. In the presenta

  • Nifty has resistance at 4580: Nirmal Bang

    10th June, 2009 09:42

    According to Nirmal Bang's report, for todayfs intraday trading, support for nifty is at 4515 & 4470 and resistance is placed at 4580.

  • Metal and banks are still positive: Ajay Jain

    10th June, 2009 09:36

    According to Lt Col Ajay, CEO, www.astromoneyguru.com, as per financial astrology metal, banking, power, real state sectors are still attractive to remain invested

  • US markets end flat 

    10th June, 2009 09:36

    The market shrugged off news that 10 banks are repaying the government rescue funds, the Dow closed flat and the Nasdaq up by 17 points.

  • Trade short in the Nifty from 4430-4450: Karvy

    10th June, 2009 09:26

    According to Karvy Stock Broking's Technical Analysis report, one can trade short in the Nifty from 4430-4450 levels with a stop loss placed above 4500 levels targ

  • Sensex has resistance at 15250-15750: Anagram

    10th June, 2009 09:19

    According to Anagram Research's report, there are series of resistances between 15250 – 15750 range and that is going to make trading more difficult.

  • Stock futures add 7.2 cr shares in open interest 

    10th June, 2009 09:15

    Fresh long positions were seen in Voltas, IDBI Bank, NIIT, Jaiprakash Hydro and IFCI. Cost of carry (CoC) of all these stocks also went up. Stock futures added 7.2

  • Momentum returns to markets 

    10th June, 2009 09:14

    The bulls have returned in full force. Yesterday, there was new found momentum in the market. The Sensex crossed the 15,000 mark while the Nifty is back above 4,50

  • Mkts may move up 2-5%: Dipan Mehta 

    10th June, 2009 09:04

    The markets may break out from highs of 4,600 and move 2-5% further. We can expect gradual build-up heading into budget as a lot of money is waiting on sidelines,

  • Rupee opens at Rs 47.31 per dollar

    10th June, 2009 09:01

    The Indian rupee opened at Rs 47.31 per dollar versus Rs 47.49 yesterday.

  • Toyota Kirloskar scales down small car projections

    10th June, 2009 08:56

    Toyota Kirloskar Motor has scaled down annual projections for its small car, scheduled to debut in early 2011, from one lakh units to 70,000 units.

  • REC seeks Power Ministry nod to raise Rs 3Kcr 

    10th June, 2009 08:55

    Rural Electrification Corporation (REC) is seeking the Power Ministry's approval for a follow-on public issue or QIP to raise Rs 2,500-3,000 crore. This could be t

  • Fund Action witnessed in Tata Steel, Aban Offshore

    10th June, 2009 08:44

    Fund Action witnessed in Tata Steel, Aban Offshore, Karuturi Global, IBN18, ANG Auto, DS Kulkarni, Himadri Chem, ICSA (India, Maytas Infra, IOL Chem and Lok Housin

  • New iPhone with better features

    10th June, 2009 08:33

    Apple has introduced a new version of iPhone. Apple claims the iPhone 3G S is “the fastest, most powerful iPhone yet”, with improved speed and performance.

  • Nifty likely to witness range of 4675-4430: Bhambwani

    10th June, 2009 08:29

    The coming session is likely to witness a range of 4675 on advances. Support is likely at 4430 on declines. The bullish pivot for the session will be at the 4490 a

  • F&O cues: Futures Open Int up by Rs 2327 cr

    10th June, 2009 08:27

    F&O cues: Futures Open Int up by Rs 2,327 crore, Options Open Int up Rs 811 crore. Stock Futures add 7.2 crore shares, shed 6 crore shares in last 2 trading sessio

  • Crude rises 3% to settle at $70.01/bbl 

    10th June, 2009 08:26

    Reuters CRB index gained 1.6% led by metals, crude, wheat and cocoa. Nymex crude July contract settled at $70.01 a barrel, up 3%. Dollar Index declined 1.6%.

  • Spot rubber rules firm

    10th June, 2009 08:22

    Physical rubber prices finished unchanged on Tuesday. According to observers, the market remained firm lacking fresh incentives specific to the commodity.

  • Indian ADRs: Satyam gains 33.8%, Patni up 10%

    10th June, 2009 08:16

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

  • Tata Power sees revenues from power trading rising

    10th June, 2009 08:16

    Tata Power Company sees revenues from its power trading business increasing with more merchant power generating capacity becoming available.

  • US markets end flat after a choppy session

    10th June, 2009 08:08

    After a choppy session the US markets ended flat. Most financials traded in the green after ten banks were allowed to repay capital they received through the troub

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