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Moneycontrol News Archive : 23 June, 2009

  • NAVs close mixed; all sectoral funds decline

    23rd June, 2009 22:00

    Equity diversified NAVs closed mixed with advance:decline ratio of 112:116. The benchmark indices ended the session on a flat note after seeing sharp recovery in t

  • Settlement to benefit both RNRL, RIL: SP Tulsian 

    23rd June, 2009 21:14

    SP Tulsian said, "We have been seeing the kind of pressure coming in from the govt & even from the court saying go to your mother (Kokilaben Ambani) or opt for set

  • Mkts clawback; ICICI Bk, HDFC Bk end 4% down

    23rd June, 2009 20:30

    The markets posted a spectacular pullback after starting the day deep in the red. Both benchmark indices closed flat for the day. The Sensex closed at 14,324, down

  • ADAG, AT&T eye equity deal in R-Comm: Sources 

    23rd June, 2009 20:09

    Anil Dhirubhai Ambani Group and AT&T may explore talks for a tie-up, reports CNBC-TV18, quoting sources. Both companies may look at an equity deal in Reliance Comm

  • Another fiscal stimulus package unlikely: KRChoksey

    23rd June, 2009 19:25

    KRChoksey expects government to remain committed in its inclusive growth agenda and “aam aadmi”. Given the revenue constraint faced by the government and already l

  • US markets open higher; Dow up 5 points

    23rd June, 2009 19:10

    At 19.03 hrs (IST)- The US markets opened higher. The Dow Jones Industrial Average was up 5.51 points, or 0.07%, to 8,344.52. The Nasdaq was up 7.32 points, or 0.4

  • 220cc Bajaj Pulsar launched today, unveils sales targets 

    23rd June, 2009 18:35

    Bajaj unveiled its new 220cc Pulsar today. The company is hopeful of boosting its overall sales and also has huge expectations from its Pulsar portfolio. However,

  • New team in place for Mahindra Satyam: An analysis 

    23rd June, 2009 18:26

    There are a lot of good changes with Satyam. It has not just got a brand new name, Mahindra Satyam, but a brand new team as well. CP Gurnani has taken over as the

  • Worried about manufacturing sector: Arun Shourie 

    23rd June, 2009 17:55

    Speaking on the present state of the economy, Arun Shourie, said, "The difficulties are location-specific, sector-specific, and firm-specific." He is of the opinio

  • Mirae Asset launches Short Term Bond Fund

    23rd June, 2009 17:36

    Mirae Asset Mutual Fund has launched Mirae Asset Short Term Bond Fund, an open-ended debt scheme aims to generate returns through an actively managed diversified p

  • Rupee ends higher

    23rd June, 2009 17:07

    The Indian spot rupee ended higher at Rs 48.56 per USD as against its previous close of Rs 48.60.

  • IFCI adds 1 crore shares in open interest 

    23rd June, 2009 17:00

    The short covering was seen in the market in the latter part of the day. IFCI was up nearly Rs 1.50 – the good point was that the stock added nearly 1 crore shares

  • Buy Tata Tea, target of Rs 859: KRChoksey

    23rd June, 2009 16:59

    KRChoksey has maintained its buy rating on Tata Tea, with price target of Rs 859. At the CMP, the stock is trading at 5.1x FY10E earnings of Rs 143.8.

  • BSE to remove seven scrips from F&O segment

    23rd June, 2009 16:56

    The Bombay Stock Exchange (BSE) will remove the scrips like Dr Reddy's Laboratories, Ambuja Cements, Ashok Leyland, Tata Chemicals, Indian Oil Corporation, Canara

  • Buy Opto Circuits, target of Rs 243: Karvy

    23rd June, 2009 16:54

    Karvy Stock Broking has maintained its buy rating on Opto Circuits, with price target of Rs 243. The research firm maintain its consolidated net sales and net prof

  • No much downside risk in ONGC: Mohindar

    23rd June, 2009 16:48

    Rahul Mohindar of viratechindia.com is of the view that there is no too much of a deep downside risk in Oil and Natural Gas Corporation, ONGC.

  • Skindia GDR Index down 2.97% to 1887.97

    23rd June, 2009 16:34

    The gainers are Ranbaxy (+9.68%) and Reliance (+1.88%) and the main losers are Satyam Computers (-10.68%), ITC (-9.81%) and Grasim Industries (-9.57%).

  • Mahindra Holidays' valuations appear to be high: Sharekhan

    23rd June, 2009 16:26

    Sharekhan believes that despite good financials and strong visibility in business, the valuations appear to be a little high, which would limit the upside for an i

  • Delhi hikes VAT on cigarettes; other states to follow? 

    23rd June, 2009 16:16

    The Delhi government has hiked the value-added tax (VAT) on cigarettes to 20% from 12.5%.

  • Buy Reliance closer to Rs 1800: Baliga 

    23rd June, 2009 16:13

    Ambareesh Baliga of Karvy Stock Broking is of the view that one can buy Reliance closer to Rs 1800.

  • US sales at 75% vs 95% during IPO: Renaissance Jewellery 

    23rd June, 2009 15:59

    With respect to their IPO (initial public offering), Sumit Shah, MD of Renaissance Jewellery, said at the time of the IPO, 95% of their sales were coming from the

  • Buy LIC Housing Finance, says Srivastave 

    23rd June, 2009 15:52

    Sarvendra Srivastave, Head-Technical Research, SSKI is of the view that one can buy LIC Housing Finance. There is a lot of upside still left in the stock. This sto

  • Expect 5-10% upside in IDBI Bank: Mohindar 

    23rd June, 2009 15:47

    Rahul Mohindar of viratechindia.com is of the view that one can expect 5-10% upside in IDBI Bank from current level.

  • Mkts end flat post recovery; oil & gas, power gain

    23rd June, 2009 15:37

    The benchmark indices ended the session on a flat note after seeing sharp recovery in the last couple of hours led by oil & gas, power and select financial stocks.

  • Will recover personal loans in 2-3 years: DCB 

    23rd June, 2009 15:22

    Murali M Natrajan, MD and CEO of DCB said that the company has faced major problems from personal loans portfolio and added that the company would be able to recov

  • Asian markets end lower; Hang Seng down 2.89%

    23rd June, 2009 15:19

    Asian markets ended lower. China's Shanghai Composite lost 0.12% or 3.605 points at 2,892.697. Hong Kong's Hang Seng plunged 2.89% or 521.18 points at 17,538.37. J

  • Forbes India picks: Stocks you must own 

    23rd June, 2009 15:13

    Forbes India, in its latest July issue, has released a list that comprises of '20 Stocks You Must Own'. In a discussion with CNBC-TV18, the magazine’s associate ed

  • Nifty adds 55 lakh shares in open interest 

    23rd June, 2009 15:11

    The Nifty saw a net addition of nearly 55 lakh shares in open interest. The Nifty support was coming in at 4,100. Unitech added nearly 50 lakh shares in open inter

  • Grasim Industries advances 4.4%

    23rd June, 2009 15:01

    Grasim Industries touched an intraday high of Rs 2,249 and an intraday low of Rs 2,100.40. At 2:58 pm, the share was quoting at Rs 2,233.70, up Rs 95.05, or 4.44%.

  • IRB Infra has target of Rs 149-150: H Thukral 

    23rd June, 2009 14:56

    Hemant Thukral, VP, Head Derivatives, Asian Market Securtities is of the view that IRB Infrastructure Developers has target of Rs 149-150.

  • Texmaco has target of Rs 123: Gujral 

    23rd June, 2009 14:53

    Technical Analyst, Ashwani Gujral is of the view that Texmaco has target of Rs 123.

  • See tax sops for investment in infra this Budget: Kotak Mah 

    23rd June, 2009 14:50

    Shanti Ekambaram, Group Head – Wholesale Banking, Kotak Mahindra Bank, feels the government should provide tax incentive for investment in infrastructure this Budg

  • Nagarjuna Fert has target of Rs 41.50: H Thukral 

    23rd June, 2009 14:34

    Hemant Thukral, VP, Head Derivatives, Asian Market Securtities is of the view that Nagarjuna Fertilisers and Chemicals has target of Rs 41.50.

  • Titagarh Wagons has target of Rs 430: Gujral 

    23rd June, 2009 14:30

    Technical Analyst, Ashwani Gujral said that, “The target for Titagarh Wagons is more than Rs 430.

  • Instanex FII Index down 0.74%

    23rd June, 2009 14:25

    At 2 pm, the Instanex FII Index was down 0.74% at 304.87 (-0.13% at 1 pm) and the Instanex DII 15 portfolio was down 1.54% (-0.79% at 1 pm).

  • Gulf Oil looks good to invest: Ashish Chugh 

    23rd June, 2009 14:23

    Investment Analyst, Ashish Chugh is of the view that Gulf Oil is looking worth for investments. The company’s industrial explosive plant, which is as big as 821 ac

  • Dishman Pharma forges ahead

    23rd June, 2009 14:08

    Dishman Pharmaceuticals & Chemicals touched an intraday high of Rs 184 and an intraday low of Rs 166.35. At 2:04 pm, the share was quoting at Rs 182, up Rs 9.80, o

  • Buy BEML with target of Rs 970: Gujral 

    23rd June, 2009 14:00

    Technical Analyst, Ashwani Gujral is of the view that one can buy BEML with a target of Rs 970.

  • Mkts lose ground; ICICI Bk, L&T, HDFC Bk, ITC, DLF plunge

    23rd June, 2009 13:49

    At 13:44 hours IST - the markets were still witnessing selling pressure, though they managed to recover some of their losses. There was a bit of volatility in trad

  • NIIT moves down 5.3%

    23rd June, 2009 13:36

    NIIT touched an intraday high of Rs 55.50 and an intraday low of Rs 52.20. At 1:33 pm, the share was quoting at Rs 53.60, down Rs 3, or 5.3%. It was trading with v

  • Nifty may test but won't breach 4,000: CLSA 

    23rd June, 2009 13:33

    Laurence Balanco of CLSA said support for the Nifty stood between the 4,000 and 4,100 level. “That level is a key support that dates back to the lows we saw in 200

  • GMR Infra has target of Rs 154: H Thukral 

    23rd June, 2009 13:28

    Hemant Thukral, VP, Head Derivatives, Asian Market Securtities is of the view that GMR Infrastructure has target of Rs 154. It has been a beaten down stock and has

  • Kalindee Rail has target of Rs 230: Gujral 

    23rd June, 2009 13:23

    Technical Analyst, Ashwani Gujral is of the view that Kalindee Rail has target of Rs 230.

  • Godrej Consumer recovers sharply

    23rd June, 2009 13:15

    Godrej Consumer Products touched an intraday high of Rs 170 and an intraday low of Rs 160.05. At 1:12 pm the share was quoting at Rs 168.60, up Rs 6.70, or 4.14%.

  • Mundra Port tumbles 5.4%

    23rd June, 2009 12:57

    Mundra Port and Special Economic Zone touched an intraday high of Rs 614 and an intraday low of Rs 577.25. At 12:54 pm, the share was quoting at Rs 584, down Rs 33

  • European markets trading flat

    23rd June, 2009 12:51

    At 12: 48 pm (IST), European markets were trading flat. CAC 40 was down 0.24% or 7.48 points at 3,115.77. DAX was flat at 4,694.14. FTSE 100 was flat at 4,230.50.

  • IRB Infra surges on bagging order worth Rs 1500cr

    23rd June, 2009 12:40

    IRB Infrastructure Developers touched an intraday high of Rs 145 and an intraday low of Rs 135.45. At 12:38 pm the share was quoting at Rs 144.80, up Rs 4.95, or 3

  • Larsen and Toubro takes a dip

    23rd June, 2009 12:32

    Larsen and Toubro touched an intraday high of Rs 1,494 and an intraday low of Rs 1,448.15. At 12:28 pm, the share was quoting at Rs 1,451.70, down Rs 58.7, or 3.89

  • Instanex FII Index down 0.81%

    23rd June, 2009 12:25

    At 12 noon, the Instanex FII Index was down 0.81% at 304.65 (-1.50% at 11 am) and the Instanex DII 15 portfolio was down 1.40% (-2.04% at 11 am).

  • Gammon India locked at 5% upper circuit

    23rd June, 2009 12:10

    At 12:06 pm, Gammon India was locked at 5% upper circuit. It touched an intraday high of Rs 161.70 and an intraday low of Rs 149. The share was quoting at Rs 161.7

  • Govt should up infrastructure spend to 9% of GDP: HCC 

    23rd June, 2009 11:47

    Ajit Gulabchand of Hindustan Construction said there is a need to up spending on infrastructure to 9% of GDP from 4.5%. He expects the Finance Ministry to raise th

  • Instanex FII Index down 1.50%

    23rd June, 2009 11:39

    At 11 am, the Instanex FII Index was down 1.50% at 302.54 (-1.61% at 10 am) and the Instanex DII 15 portfolio was down 2.04% (-1.67% at 10 am).

  • Siemens bags Rs 112 crore order; stock down

    23rd June, 2009 11:37

    Siemens touched an intraday high of Rs 460 and an intraday low of Rs 442.25. At 11:34 am, the share was quoting at Rs 454.15, down Rs 6.45, or 1.4%. The company ha

  • Tulsian bullish on non-ferrous metal space 

    23rd June, 2009 11:33

    Investment Advisor SP Tulsian is bullish on non-ferrous metal space. The prices correcting in copper-aluminum, led-zinc on the LME for the last week or ten days an

  • Unitech loses further ground

    23rd June, 2009 11:29

    Unitech touched an intraday high of Rs 76 and an intraday low of Rs 70. At 11:26 am, the share was quoting at Rs 73, down Rs 4.65, or 5.99%. It was trading with vo

  • Power Grid to raise Rs 3,000 cr via FPO

    23rd June, 2009 11:21

    India’s power transmission company and Mini-Ratna Category- I public sector undertaking, Power Grid Corporation is planning to raise Rs 3,000 crore via FPO (follow

  • Subscribe to Mahindra Holidays IPO at lower band: R Money

    23rd June, 2009 11:18

    Reliance Money has come out with a research report on Mahindra Holidays and Resorts India's initial public offering (IPO). The research firm has recommended invest

  • ICICI Pru Power, Balanced declare dividend

    23rd June, 2009 11:15

    ICICI Prudential Mutual Fund has announced a dividend in ICICI Prudential Power Fund and ICICI Prudential Balanced, the record date for the same has been fixed as

  • Axis Bank plunges 4%

    23rd June, 2009 11:00

    Axis Bank touched an intraday high of Rs 760 and an intraday low of Rs 665.90. At 11 am, the share was quoting at Rs 733, down Rs 30.9, or 4.05%. It was trading wi

  • Is your family safeguarded against disasters?

    23rd June, 2009 10:57

    Calamities are a part of everyone’s life. We cannot prevent disasters, but we can prepare ourselves to reduce the adverse impact on our lives.

  • Sobha Developers puts QIP on hold; stk at 5% lower circuit

    23rd June, 2009 10:52

    Sobha Developers was locked at 5% lower circuit. It touched an intraday high of Rs 199 and an intraday low of Rs 194.80. At 10:48 am, the share was quoting at Rs 1

  • IRDA to standardise ULIPs, put cap on charges 

    23rd June, 2009 10:51

    The Insurance Regulatory and Development Authority (IRDA) has cracked its whip again and this time it plans to standardise Unit Linked Insurance Policies (ULIPs) a

  • Price-based royalty to impact oil cos: Subir Raha 

    23rd June, 2009 10:45

    Subir Raha, Former Chairman of ONGC said it would be very difficult to shift from royalty calculation based on wellhead costs to market price and added that the im

  • ONGC top gainer on the Sensex

    23rd June, 2009 10:29

    At 10:24 am, Oil and Natural Gas Corporation, ONGC was the top gainer on the Sensex. It touched an intraday high of Rs 1,042.65 and an intraday low of Rs 978.90. T

  • Instanex FII Index down 1.61%

    23rd June, 2009 10:25

    At 10 am, the Instanex FII Index was down 1.61% at 302.18 and the Instanex DII 15 portfolio was down 1.67%. Sensex was down 1.74% and Nifty was down 1.47%.

  • ICICI Bank among major losers

    23rd June, 2009 10:11

    At 10:09 am, ICICI Bank was among major losers on the Sensex. It touched an intraday high of Rs 715 and an intraday low of Rs 692. The share was quoting at Rs 693.

  • Delay won't affect monsoon's performance: MET 

    23rd June, 2009 10:07

    The MET department has said that the monsoon is reviving after a two week delay and is likely to cover Maharashtra, Karnataka and Andhra Pradesh in the next two-th

  • ABG Ship makes counter offer for Great Offshore; stk up

    23rd June, 2009 10:01

    ABG Shipyard touched an intraday high of Rs 218.15 and an intraday low of Rs 205.90. At 09:56 am, the share was quoting at Rs 217.50, up Rs 8.10, or 3.87%. The com

  • Indian GDRs: Satyam down 10.6%, Tata Comm down 7%

    23rd June, 2009 09:49

    The main losers were Satyam Computers (-10.68%), Tata Communication (-7.08%) and Sterlite Industries (-6.99%). However, just ITC gained 0.72%.

  • Support for Nifty at 4180: Nirmal Bang

    23rd June, 2009 09:44

    According to Nirmal Bang's report, the intraday support for Nifty is at 4180 and strong resistance is at 4310.

  • ABG Shipyard makes counter offer for Great Offshore 

    23rd June, 2009 09:37

    ABG Shipyard says it wants to acquire a 32.1% stake in Great Offshore at a price of about Rs 335 price -- this is at a discount of the current market price.

  • Stock futures shed 3.5 cr shares in OI 

    23rd June, 2009 09:28

    Stock futures shed 3.5 crore shares in OI (open interest). Stock futures rollover stood at 21% and Nifty futures rollover at 19%. Long unwinding was seen in Suzlon

  • Great Offshore to get better price post ABG's counter offer 

    23rd June, 2009 09:18

    ABG Shipyard has made a counter offer for Great Offshore at Rs 375 per share while Bharati Shipyard open offer was at Rs 344/share. Managing Editor of CNBC-TV18, U

  • Power Ministry may push for 5% customs duty waiver for LNG 

    23rd June, 2009 09:08

    The Power Ministry may push for a customs duty waiver on liquefied natural gas or LNG. The ministry has taken feedback from various departments and ministries and

  • 10-yr yield seen between 6.85-6.95%: Sundaram BNP Paribas

    23rd June, 2009 09:01

    According to K Ramkumar, Sundaram BNP Paribas, bonds likely to remain lacklustre for next couple of days due to lack of direction. The range for the 10-year yield

  • Correction in commodities may drag global mkts: AMP Cap 

    23rd June, 2009 09:00

    Global markets are going through a correction phase and we expect profit taking to continue. India will mirror global equities in the near-term. Cyclical correctio

  • Rupee may breach 49/$ today: Verity Analytics

    23rd June, 2009 08:59

    According to Vikram Nanivadekar, Verity Analytics, the rupee may breach Rs 49 per dollar today unless state-run-bank support emerges. Weak stock market to give fur

  • Fund Action witnessed in Kalindee Rail, Piramal Health

    23rd June, 2009 08:39

    Fund Action witnessed in Kalindee Rail and Piramal Healthcare.

  • Nifty likely to witness range of 4325-4150: Bhambwani

    23rd June, 2009 08:34

    The coming session is likely to witness a range of 4325 on advances. Support is likely at 4150 on declines. The bullish pivot for the session will be at the 4300 a

  • Nifty has supports at 4100-4160: Gujral

    23rd June, 2009 08:29

    The market will have negative opening today on account of weak global cues. Nifty has supports at 4100-4160 and resistances are at 4330-4350.

  • AI targets Rs 500-cr wage cost reduction

    23rd June, 2009 08:28

    Air India is targeting a reduction of almost 17 per cent or Rs 500 crore of its annual wage bill of more than Rs 3,000 crore. The airline is passing through a seve

  • Market cues: FIIs net sell $5.4 million

    23rd June, 2009 08:23

    Market cues: FIIs net sell USD 5.4 million and MFs net buy Rs 408 crore in equities on June 19.

  • Copper, Aluminium, Nickel, Zinc decline 5-6% 

    23rd June, 2009 08:19

    Copper declined 6%, to trade around $4730/tonne, at 4-week lows. Aluminium was down 6.2%, to trade around $1574/tonne. Nickel fell 5% to trade around to &#

  • Nifty has major support at 4100-4200 

    23rd June, 2009 08:10

    The Nifty is close to important support level of 4,200; 4100-4200 is seen as major support zone for the Nifty. FIIs selling spree in cash market continued. FIIs we

  • US mkts slide on GDP cut from World Bank; Dow down 200pts

    23rd June, 2009 08:07

    The Wall Street suffered its worst day in two months as markets closed deep in the red, the S&P 500 slipped below 900. Financials and commodities led the stocks do

  • Govt should increase public investments: Sitaram Yechury 

    23rd June, 2009 21:14

    Commenting on the state of the Indian economy, Sitaram Yechury, Rajya Sabha MP and Sr Politburo Member, CPI (M), said it was in a very bad shape which would worsen

  • Bharati Shipyard buys 4.58% in Great Offshore at Rs 403/sh 

    23rd June, 2009 20:36

    The bidding war for Great Offshore is getting hotter. Now, ABG Shipyard has come up with a counter offer at Rs 375. CNBC-TV18 learns that Bharati has countered thi

  • Subscribe to Mahindra Holidays IPO at lower band: KRChoksey

    23rd June, 2009 20:30

    KRChoksey has come out with its research report on Mahindra Holidays and Resorts India's initial public offering (IPO). Mahindra Holidays has opened for subscripti

  • Oil Min to push for new subsidy formula prior to price hike 

    23rd June, 2009 19:54

    The Oil Ministry may push for new subsidy formula prior to a price hike, sources told CNBC-TV18's Nayantara Rai. The new subsidy formula will move in sync with cru

  • MFs net buy Rs 120.80 cr in equities on June 22

    23rd June, 2009 19:12

    On June 22, 2009, mutual funds (MFs) were net buyers to the tune of Rs 120.80 crore in equities. They made gross purchase of Rs 647.60 crore and gross sales of Rs

  • FIIs net sell Rs 197 cr in equities on June 22

    23rd June, 2009 19:07

    On June 22, 2009, foreign institutional investors (FIIs) were net sellers to the tune of Rs 197 crore in equities. They made gross purchase of Rs 1,617 crore and g

  • Kotak Sec, Karvy differ on short-term mkt trend 

    23rd June, 2009 18:32

    R Venkat Subramanian of Kotak Securities said a pullback is possible in markets. "I think the first significant pullback will be bought into. So from that point of

  • RNRL asks RIL for settlement meeting: Sources 

    23rd June, 2009 18:07

    Reliance Natural Resources Ltd (RNRL) has invited Reliance Industries Ltd (RIL) for talks on a possible settlement. CNBC-TV18’s Nayantara Rai reports that RNRL has

  • Govt prepares backup plans to counter deficient monsoon 

    23rd June, 2009 17:54

    The markets and corporate India have been growing increasingly worried over the delayed onset and likelihood of sub-par monsoons. Now, even the government is takin

  • RIL-NTPC case: Govt wants Oil Min to consider KG gas supply 

    23rd June, 2009 17:22

    The verdict of the RIL-RNRL gas imbroglio was out on June 15. But there was an interesting development in a related gas dispute i.e. RIL-NTPC gas dispute, which wa

  • Conference biz to push occupancy levels up: Royal Orchids 

    23rd June, 2009 17:00

    The hotel industry suffered a huge jolt and remained under pressure since the financial crises rolled out. Commenting on the same, CK Baljee, Chairman of Royal Orc

  • Shree Renuka Sugars to increase sugar refining capacity

    23rd June, 2009 17:00

    Shree Renuka Sugars will expand its existing sugar refining capacity at its Athani unit in Karnataka from 1,000 tpd to 2,000 tpd and set up sugar refining capacity

  • Instanex FII Index ends flat

    23rd June, 2009 16:58

    The Instanex FII Index closed flat, up just 0.13% at 307.54 (+0.46% at 3 pm) whereas the Instanex DII 15 portfolio was down 0.49% (-0.21% at 3 pm).

  • Buy GIPCL, target of Rs 130: IIFL

    23rd June, 2009 16:56

    IIFL has maintained its buy rating on Gujarat Industries Power Co. (GIPCL), with 12-month price target of Rs 130. GIPCL’s proposed 250MW expansion has been delayed

  • KEC International bags new orders worth Rs 110cr

    23rd June, 2009 16:51

    KEC International Ltd. (KEC), a global leader in the power transmission EPC business and an RPG group company, has bagged three orders totaling to Rs 110 crore - o

  • Reliance has resistance at Rs 2080-2100: Mohindar

    23rd June, 2009 16:39

    Rahul Mohindar of viratechindia.com is of the view that Reliance Industries has resistance at Rs 2080-2100.

  • RCom a good medium-term bet: Mohindar 

    23rd June, 2009 16:28

    Rahul Mohindar of viratechindia.com is of the view that Reliance Communications is a good medium-term bet for about a 20-25% upside.

  • Oderbook at Rs 9,500 crore: BGR Energy

    23rd June, 2009 16:19

    BG Raghupathy, CMD, BGR Energy Systems in an exclusive interview with CNBC-TV18 said the company’s current orderbook stood at Rs 9,500 crore. “The top five clients

  • Hold Great Offshore: Baliga

    23rd June, 2009 16:15

    Ambareesh Baliga of Karvy Stock Broking is of the view that one can hold Great Offshore.

  • Avoid public sector banks: Subramanian 

    23rd June, 2009 15:59

    R Venkat Subramanian, Head-Alternate Investments Group, Kotak Securities is of the view that before the budget one should ignore public sector banks.

  • GMR Infra has support at Rs 127-128: Srivastave 

    23rd June, 2009 15:54

    Sarvendra Srivastave, Head-Technical Research, SSKI is of the view that GMR Infra has support at Rs 127-128.

  • Unitech has support at Rs 65-70: Srivastave 

    23rd June, 2009 15:49

    Sarvendra Srivastave, Head-Technical Research, SSKI is of the view that Unitech has support at Rs 65-70. If that holds then this stock could actually bounceback to

  • Hold IDFC with target of Rs 155-160: Mohindar 

    23rd June, 2009 15:39

    Rahul Mohindar of viratechindia.com is of the view that one should stay invested in the IDFC with target of Rs 155-160.

  • Instanex FII Index up 0.46%

    23rd June, 2009 15:28

    At 3 pm, the Instanex FII Index was up 0.46% at 308.55 (-0.74% at 2 pm) and the Instanex DII 15 portfolio was down 0.21% (-1.54% at 2 pm).

  • Firstsource signs Rs 145 cr agreement with Idea, stock up

    23rd June, 2009 15:21

    Firstsource Solutions touched an intraday high of Rs 25.25 and an intraday low of Rs 22.30. At 2:18 pm, the share was quoting at Rs 24.55, up Rs 1.15, or 4.91%. Th

  • IDFC minting money

    23rd June, 2009 15:16

    IDFC touched an intraday high of Rs 137.80 and an intraday low of Rs 123.25. At 3:12 pm, the share was quoting at Rs 136.50, up Rs 8.70, or 6.81%. It was trading w

  • KEC up on bagging order worth Rs 110 crore

    23rd June, 2009 15:12

    KEC International touched an intraday high of Rs 383.10 and an intraday low of Rs 358.50. At 3:06 pm, the share was quoting at Rs 380, up Rs 14.20, or 3.88%. The c

  • IndusInd Bank touches 52-week high

    23rd June, 2009 15:05

    At 3:02 pm, IndusInd Bank touched a 52-week high of Rs 90.80. The share was quoting at Rs 89.15, up Rs 8.15, or 10.06%. It was trading with volumes of 2,109,240 sh

  • Markets bounce back; heavyweights lead recovery 

    23rd June, 2009 15:00

    The markets were recovered in the second half of the day, which is pretty much the opposite of what happened yesterday. At least on two occasions the Nifty has alm

  • Reliance among major gainers

    23rd June, 2009 14:55

    At 2:51 pm, Reliance Industries was among major gainers on the Sensex. It touched an intraday high of Rs 2,029.80 and an intraday low of Rs 1,901.10. The share was

  • Tata Motors leads gainers on Sensex

    23rd June, 2009 14:52

    At 2:50 pm, Tata Motors was top gainer on the Sensex. It touched an intraday high of Rs 347 and an intraday low of Rs 321.60. The share was quoting at Rs 346.80, u

  • Mkts choppy despite recovery; RIL, ONGC, NTPC, BHEL, SBI up

    23rd June, 2009 14:42

    At 14:36 hours IST - the benchmark indices showed smart recovery on the back of buying in Reliance Industries, ONGC, NTPC, BHEL, SBI, HDFC, Grasim, Tata Motors, Ta

  • Sell crude on rally in near term 

    23rd June, 2009 14:33

    Crude was trading at 67 per barrel. Many analysts felt that on the lower side USD 62 per barrel to USD 65 per barrel was a good support. On the higher side, it wou

  • Offers galore for ABG Shipyard; Bharti Shipyard ups ante 

    23rd June, 2009 14:28

    The competition for Great Offshore has been the breaking story all morning on the stock markets. First, an offer from Bharati Shipyard which came quite some time b

  • Nifty goes free-float: How the heavyweights stack up now 

    23rd June, 2009 14:24

    Nifty index calculation methodology – when it will get converted into free float on June 26, 2009. The weightage will go up for some stocks like ICICI Bank, L&T, I

  • Hindalco Industries continues to slide

    23rd June, 2009 14:13

    Hindalco Industries touched an intraday high of Rs 83.15 and an intraday low of Rs 78.80. At 2:10 pm, the share was quoting at Rs 80.80, down Rs 3.55, or 4.21%. It

  • Suzlon Energy has target of Rs 115: H Thukral 

    23rd June, 2009 14:04

    Hemant Thukral, VP, Head Derivatives, Asian Market Securtities is of the view that Suzlon Energy has target of Rs 115. Among all the power stocks this stock is sho

  • Suzlon Energy among major losers

    23rd June, 2009 13:58

    At 1:57 pm, Suzlon Energy was among major losers on the Nifty. It touched an intraday high of Rs 107.45 and an intraday low of Rs 102.50. The share was quoting at

  • HDFC Bank slips further

    23rd June, 2009 13:41

    HDFC Bank touched an intraday high of Rs 1,511 and an intraday low of Rs 1,460. At 1:38 pm, the share was quoting at Rs 1,465, down Rs 75.2, or 4.88%. It was tradi

  • Bajaj Hindusthan loses sweetness

    23rd June, 2009 13:33

    Bajaj Hindusthan touched an intraday high of Rs 208 and an intraday low of Rs 192.40. At 1:30 pm, the share was quoting at Rs 196.55, down Rs 13.65, or 6.49%. It w

  • Instanex FII Index down 0.13%

    23rd June, 2009 13:30

    At 1 pm, the Instanex FII Index was down 0.13% at 306.73 (-0.81% at 12 noon) and the Instanex DII 15 portfolio was down 0.79% (-1.40% at 12 noon).

  • Gateway Distriparks recoups losses

    23rd June, 2009 13:24

    Gateway Distriparks touched an intraday high of Rs 102.80 and an intraday low of Rs 94. At 1:21 pm, the share was quoting at Rs 101.85, up Rs 4.20, or 4.30%. It wa

  • Deccan Chronicle gushes forth

    23rd June, 2009 13:19

    Deccan Chronicle Holdings touched an intraday high of Rs 77.50 and an intraday low of Rs 71.10. At 1:16 pm, the share was quoting at Rs 77.50, up Rs 3.50, or 4.73%

  • RCom to bid for Zain's African operations; stk down

    23rd June, 2009 13:07

    Reliance Communications touched an intraday high of Rs 292.85 and an intraday low of Rs 282.55. At 1:05 pm, the share was quoting at Rs 291.65, down Rs 4.55, or 1.

  • Govt should de-control petrol prices: Rakesh Jhunjhunwala 

    23rd June, 2009 12:52

    Speaking on the Budget, Rakesh Jhunjhunwala, Investor and Trader, said the budget will be first serious policy statement of the government. It was not important fr

  • S Kumars Nation back on track

    23rd June, 2009 12:47

    S Kumars Nationwide touched an intraday high of Rs 45.20 and an intraday low of Rs 40.80. At 12:47 pm, the share was quoting at Rs 44.90, up Rs 1.65, or 3.82%. It

  • Mkts weak amid volatility; RIL, ONGC, NTPC, BHEL up

    23rd June, 2009 12:37

    At 12.42 hrs IST, the markets were trading in negative terrain amid volatility. Selling pressure was seen in realty, metal, bank, capital, FMCG, IT and auto stocks

  • DLF slips further

    23rd June, 2009 12:26

    DLF touched an intraday high of Rs 320 and an intraday low of Rs 304. At 12:22 pm, the share was quoting at Rs 307.40, down Rs 15.65, or 4.84%. It was trading with

  • Hindustan Dorr wins Rs 53 crore order; stk down

    23rd June, 2009 12:19

    Hindustan Dorr-Oliver touched an intraday high of Rs 89.45 and an intraday low of Rs 83.45. At 12:16 pm, the share was quoting at Rs 86.55, down Rs 1.25, or 1.42%

  • MindTree marches ahead

    23rd June, 2009 11:59

    MindTree touched an intraday high of Rs 462.75 and an intraday low of Rs 420. At 11:55 am, the share was quoting at Rs 455, up Rs 22.75, or 5.26%. It was trading w

  • Great Offshore bounces back

    23rd June, 2009 11:43

    Great Offshore touched an intra day high of Rs 423.90 and an intra day low of Rs 379.50. At 11:37 am, the share was quoting at Rs 416.50, up Rs 33.25, or 8.68%. It

  • Mkts under pressure; ICICI, L&T, DLF, ITC, Sterlite dip

    23rd June, 2009 11:37

    At 11:32 hours IST - the sell-off in metal, banking, infrastructure, realty and cement stocks was putting pressure on the benchmark indices. The Nifty has been tra

  • New gas pricing formula difficult to implement: Tulsian 

    23rd June, 2009 11:35

    Analyst SP Tulsian said implementing the new gas pricing formula would be difficult for the government to implement. "When it comes to the NELP and the discoveries

  • Tata Steel extends losses

    23rd June, 2009 11:32

    Tata Steel touched an intraday high of Rs 394.90 and an intraday low of Rs 384.15. At 11:29 am, the share was quoting at Rs 386.35, down Rs 16.2, or 4.02%. It was

  • Advent Advisors bullish on infrastructure space 

    23rd June, 2009 11:27

    KR Bharat, MD, Advent Advisors is bullish on infrastructure space.

  • Buy Suzlon Energy on dips: Bose 

    23rd June, 2009 11:20

    Technical Analyst, Rajat K Bose is of the view that one can buy Suzlon Energy on dips with a target of Rs 135-140.

  • Advent Advisors bullish on midcap stocks 

    23rd June, 2009 11:16

    KR Bharat, MD, Advent Advisors is bullish on midcap stocks.

  • Worst not over; mkt may see more correction: Advent 

    23rd June, 2009 11:01

    KR Bharat, MD, Advent Advisors said he does not believe the worst for the market is over. He fears a single crisis could spur the momentum of correction further a

  • Correction in commodities likely to continue: KR Bharat 

    23rd June, 2009 10:59

    KR Bharat, MD, Advent Advisors feels that the correction in commodities is likely to continue.

  • Sell Gold August around Rs 14525: Bonanza

    23rd June, 2009 10:53

    Bonanza has recommended to sell Gold August at around Rs 14525 with stoploss above Rs 14570 and target of Rs 14405.

  • Mahindra Holidays IPO looks expensive: SP Tulsian 

    23rd June, 2009 10:52

    Investment Advisor, SP Tulsian feels that valuations of Mahindra Holidays are quite stretched. Its price band shouldn’t have been more than anywhere between Rs 200

  • Above Rs 210, see further upswing in Punj Lloyd: Bose 

    23rd June, 2009 10:48

    Technical Analyst, Rajat K Bose is of the view that if Punj Lloyd remains above Rs 210 then there will be further upswing in it.

  • Mkts southbound; metals, realty, banks, IT, telecom dip

    23rd June, 2009 10:37

    At 10:30 hours IST, the markets were witnessing selling pressure despite showing some recovery from the lows of the day. The recovery was led by heavyweights Relia

  • ITC trips on selling pressure

    23rd June, 2009 10:26

    ITC touched an intraday high of Rs 201 and an intraday low of Rs 192.60. At 10:23 am, the share was quoting at Rs 195.50, down Rs 7.3, or 3.6%. It was trading with

  • NTPC buys 44.6% stake in Kerala-based company; stk up

    23rd June, 2009 10:24

    NTPC touched an intraday high of Rs 194.80 and an intraday low of Rs 186.55. At 10:21 am, the share was quoting at Rs 193.70, up Rs 2.70, or 1.41%. The company has

  • Sterlite Ind top loser on the Sensex

    23rd June, 2009 10:10

    At 10:07 am, Sterlite Industries was the top loser on the Sensex. It touched an intraday high of Rs 580.05 and an intraday low of Rs 565. The share was quoting at

  • Block deal in Great Offshore; stk rises 5.6%

    23rd June, 2009 10:07

    Great Offshore touched an intraday high of Rs 404.80 and an intraday low of Rs 379.50. At 10:02 am, the share was quoting at Rs 404.75, up Rs 21.50, or 5.61%. Ther

  • Nifty slips below 4200 on weak global cues

    23rd June, 2009 09:53

    The markets opened sharply lower following negative global cues led by steep fall in commodities prices in international markets. Realty, infrastructure, metal and

  • Nifty in good stead till 3980 holds: Rajat Bose 

    23rd June, 2009 09:45

    Rajat Bose of Rajatkbose.Com said that the major support area around 4185 may be broken by a gap-down.

  • US markets slip on World Bank comment 

    23rd June, 2009 09:38

    The major factor behind the sell-off on Wall Street was the World Bank saying that the global economy is in the worst shape than it had been previously thought and

  • Mahindra Holidays IPO looking overvalued: Udayan Mukherjee 

    23rd June, 2009 09:30

    Managing Editor, Udayan Mukherjee, CNBC-TV18, said going by the valuations Mahindra Holidays’ IPO price band was looking stretched. “But it will still sell around

  • Nifty has crucial support at 4050-4100: Karvy

    23rd June, 2009 09:21

    According to Karvy Stock Broking's Technical Analysis report, Nifty has a crucial support placed at 4050-4100 levels which if held, speculative long positions may

  • Mahindra Holidays IPO opens for subscription

    23rd June, 2009 09:08

    Mahindra Holidays and Resorts India, one of the leading leisure hospitality providers in India offering quality family holidays and a part of Mahindra Group, has o

  • Global cues to determine near-term mkt trend:Andrew Holland 

    23rd June, 2009 09:04

    A correction is desirable as markets had run up sharply. I am concerned about the volatility in currencies, Andrew Holland said.

  • Rupee opens at Rs 48.83 per dollar

    23rd June, 2009 09:01

    The Indian rupee opened at Rs 48.83 per dollar versus Rs 48.62 yesterday.

  • Nifty may get close to 4100 

    23rd June, 2009 09:00

    With the global backdrop not looking too good, the Nifty might open below 4,200. Commodities have sold-off, Asian markets are not looking good either and the SGX i

  • World Bank pats India for improving investor sentiment

    23rd June, 2009 08:44

    The World Bank says the reform agenda of the newly-elected Indian Government has already improved investor sentiment and could yield an even stronger recovery in i

  • Renault puts India car plans on the fast track

    23rd June, 2009 08:36

    French carmaker Renault has completely recast its plans for India as part of a new, aggressive approach that will see it producing cars in its Chennai plant by 201

  • Support for Sensex at 14188-14000: Gaba

    23rd June, 2009 08:32

    The support for the Sensex is 14188-14000 and the resistance to the up move is at 14727-14894. The support for the Nifty is at 4200 and the resistance to the up mo

  • Stocks in news: Great Off, Sobha, REC, Bharti, NTPC

    23rd June, 2009 08:28

    ABG Shipyard, Great Offshore, Sobha Developers, Bharati Shipyard, REC, Bharti Airtel, Reliance Communications, Siemens, Hindustan Dorr Oliver, NTPC, Gremach Infra,

  • F&O cues: Futures Open Int down by Rs 1407 cr

    23rd June, 2009 08:25

    F&O cues: Futures Open Int down by Rs 1407 crore, Options Open Int up by Rs 1378 crore. Stock Futures shed 3.5 cr shares in Open Int.

  • Spot rubber turns weak

    23rd June, 2009 08:22

    The domestic rubber prices turned weak on Monday. In spot the market slipped following the bearish reports from its futures on NMCE.

  • World Bank predicts 2.9% contraction in global economy 

    23rd June, 2009 08:17

    The US markets slid post World Bank prediction. The World Bank warned that prospects for the global economy remained "unusually uncertain" despite signs of improve

  • Indian ADRs: Satyam slips 10.6%, Tata Comm down 7%

    23rd June, 2009 08:08

    Indian ADRs ended lower on Monday. In the IT space, Satyam Computers was down 10.68% at $ 3.26, Wipro was down 6.08% at $ 10.66, Infosys was down 2.99% at

  • Asia trading weak; Hang Seng, Nikkei down 3%

    23rd June, 2009 08:02

    At 8: 00 am (IST), Asian markets were trading weak. China's Shanghai Composite was down 0.83% or 23.96 points at 2,872.33. Hong Kong's Hang Seng plunged 3.24% or 5

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