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Moneycontrol News Archive : 2 March, 2009

  • Life insurance industry's outlook muted, LIC shines 

    2nd March, 2009 22:47

    The outlook for life insurance industry looks muted for the fourth quarter. Traditionally, Q4 is when insurers make their most collections. Meanwhile, India's bigg

  • Edserv IPO: Will 50% allotment to QIBs affect stock ahead?

    2nd March, 2009 22:30

    E-learning company EdServ Softsystems fought all the odds and came with an initial public offering (IPO) on February 5. Esderve raised Rs 23.8 crore from the IPO a

  • Commerce Ministry in favour of easing ban on wheat

    2nd March, 2009 22:07

    Commerce Secretary GK Pillai, said the Commerce Ministry is in favour of easing ban on wheat exports. The Ministry said it has adequate buffer stocks of wheat avai

  • RIL-RPL merger is tax-neutral: E&Y India 

    2nd March, 2009 20:59

    Rajeev Memani, E&Y India, is of the view that RIL-RPL merger is tax-neutral. He said the book for RIL after all adjustments is Rs 765, which has been factored-in.

  • See RIL in 50 most profitable cos list in 2 yrs: Agarwal 

    2nd March, 2009 20:22

    Alok Agarwal, CFO, RIL, sees the company over the next 1-2 years becoming one of the 50 most profitable companies in the world post the merger with RPL. "It is abo

  • Dow plunges below 7K on US banking sector woes

    2nd March, 2009 20:04

    Stock markets in the US opened in the red yet again, as traders continued to worry about the health of the economy, and the effect this would have on financial ins

  • Reduce Tata Steel, target of Rs 215: IIFL

    2nd March, 2009 19:31

    IIFL has recommended a reduce rating on Tata Steel with a target price of Rs 215. Tata Steel reported a consolidated profit of Rs 8.14 billion for 3QFY09.

  • Are Fixed Income investments safe now?

    2nd March, 2009 19:12

    Sujoy Kumar Das, Head - Fixed Income at Bharti Axa Investment Managers discusses the volatility in the fixed income market, rate cuts, inflation, debt investments

  • Buy GVK Power, target of Rs 23.9: IIFL

    2nd March, 2009 18:55

    IIFL has recommended a buy rating on GVK Power & Infrastructure with target price of Rs 23.9. The government has approved levy of a development fee (ADF) at Mumbai

  • Rupee has resistance at 52.40/52.5: Commtrendz

    2nd March, 2009 18:49

    According to Commtrendz Research's report on Indian Rupee, immediate supports are now around 51.20/51.30 followed by 50.70/50.8. Resistances come around 52.40/52.5

  • StanChart on hiring spree in recession  

    2nd March, 2009 18:30

    At a time when most companies plan to freeze fresh hiring, Standard Chartered is looking to place 1500 professionals this year across the country.

  • Reduce Tata Steel, target of Rs 146: Angel Broking

    2nd March, 2009 18:24

    Angel Broking has downgraded its rating on Tata Steel from neutral to reduce with a target price of Rs 146. Tata Steel posted yoy consolidated Top-line growth of 4

  • Mkts may hit past lows, don't buy now: Pranav Sec 

    2nd March, 2009 17:53

    Rajesh Jain, Pranav Securities, feels there is a complete absence of buyers and that’s why this market is probably looking to check out previous lows. Over the nex

  • Pak responds to terror dossier: How should India react? 

    2nd March, 2009 17:31

    How should India’ assess Islamabad’s response to India’s terror dossier? Have the extent of the investigations and the candid revolutions taken the Indian governme

  • Jan export no dips by 16%, FY09 7.1% GDP target impossible 

    2nd March, 2009 17:12

    Indian exports continue to be on a declining trend, contracting by 16% in January. With the dollar trading strong against the rupee, the trade deficit has decrease

  • Overdrive on a road trip in Mahindra Xylo and Toyota Innova 

    2nd March, 2009 16:55

    On Overdrive this week: the team heads out for a picnic in the Mahindra Xylo and the Toyota Innova. Bertrand D’Souza checks out the new Captiva Automatic and Siris

  • Prabhudas Lilladher underweight on cement sector

    2nd March, 2009 16:24

    Prabhudas Lilladher has maintained its underweight rating on the cement sector. Given the strong demand from the infrastructure sector, prices are expected to rema

  • The sound of Slumdog Millionaire: Resul Pookutty  

    2nd March, 2009 16:22

    My guest today is Resul Pookutty and unless you have been living under a rock you know that he is one of India’s and now one of the world’s best audiographers or s

  • Indianomics on shocking GDP nos. & dwindling global banks 

    2nd March, 2009 16:18

    Growth was always expected to slowdown. But, policy makers always maintained, India could manage growth close to 7% this year and close to 6% next year. However, t

  • Lower levels ahead in ICICI Bank: Sukhani 

    2nd March, 2009 16:15

    Technical Analyst, Sudarshan Sukhani is of the view that there are lower levels ahead in ICICI Bank.

  • Asian currencies trading at 11-year lows 

    2nd March, 2009 16:11

    The rupee was not falling much before the weak trade data which was released last week. It is really the Asian flu, across the Asian continent you are seeing lot o

  • Lok Sabha polls to begin from April 16: Analysis 

    2nd March, 2009 16:00

    General Elections in India for the fifteenth Lok Sabha will be held in five phases, starting from April 16 and concluding on May 13.

  • Merger proposal with RPL has no rating impact on RIL: S&P

    2nd March, 2009 15:58

    Standard & Poor's Ratings Services said today that there is no immediate impact on its corporate credit ratings on Reliance Industries Ltd. (RIL, BBB/Negative/--)

  • Watch out for AIG nos, ISM mfg data in US 

    2nd March, 2009 15:49

    Important data to watch out for in US markets will be AIG numbers. But on the economic side we have the ISM (Institute for Supply Management) manufacturing index w

  • EdServ Softsystems ends with 129% premium

    2nd March, 2009 15:45

    EdServ Softsystems, an e-learning company has ended its first trading session with a huge premium of 129.50% to its issue price of Rs 60. The share closed at Rs 13

  • Relentless pressure from global mkts hammered Nifty 

    2nd March, 2009 15:37

    The relentless pressure from the global equity markets turned out to be too overwhelming for our stock market. The Nifty plunged 100 points and the Sensex too lost

  • Fortis Healthcare has target of Rs 80-82: Mathew 

    2nd March, 2009 15:35

    Technical Analyst, E Mathew is of the opinion that Fortis Healthcare has made a smart move in such a bad market that it is up almost 6%. It moves smartly above the

  • See no order growth next quarter: Gokaldas Exports 

    2nd March, 2009 15:32

    Rajendra Hinduja, Executive Director, Gokaldas Exports, said there will be no growth in terms of orders next quarter. However, he was quick to add that the company

  • Franklin Templeton announces Top Mgmt changes

    2nd March, 2009 15:18

    Franklin Templeton announces Senior Management appointments in India and Ceemea.

  • Punj Lloyd extends losses

    2nd March, 2009 15:10

    Punj Lloyd has touched a 52-week low of Rs 73.50. At 3:02 pm, the share was quoting at Rs 73.75, down Rs 5.35, or 6.76%. It was trading with volumes of 1,158,088

  • JSW Steel plunges 7.5%

    2nd March, 2009 15:04

    JSW Steel had touched an intraday high of Rs 188.05 and an intraday low of Rs 173.55. At 2:55 pm, the share was quoting at Rs 173.90, down Rs 14.15, or 7.52%. It w

  • Subex maintains its march ahead

    2nd March, 2009 14:58

    Subex had touched an intraday high of Rs 22.15 and an intraday low of Rs 20.70. At 2:50 pm, the share was quoting at Rs 22, up Rs 0.90, or 4.27%. It was trading wi

  • Kirloskar Oil continues to gain

    2nd March, 2009 14:51

    Kirloskar Oil Engines had touched an intraday high of Rs 46.70 and an intraday low of Rs 42.40. At 2:42 pm, the share was quoting at Rs 45.80, up Rs 2.85, or 6.64%

  • Sadbhav Engg JV gets Rs 1571 cr order; stk up

    2nd March, 2009 14:42

    Sadbhav Engineering had touched an intraday high of Rs 315 and an intraday low of Rs 300. At 2:34 pm, the share was quoting at Rs 307.95, up Rs 7.95, or 2.65%. The

  • Welspun Guj melts down 6.5%

    2nd March, 2009 14:39

    Welspun Gujarat Stahl Roh had touched a 52-week low of Rs 57.60. At 2:31 pm, the share was quoting at Rs 57.90, down Rs 4.05, or 6.54%. It was trading with volumes

  • Mercator Lines slips on profit booking

    2nd March, 2009 14:36

    Mercator Lines has slipped today. It had touched an intraday high of Rs 27.70 and an intraday low of Rs 25.95. At 2:28 pm, the share was quoting at Rs 26, down Rs

  • Nifty slips below 2700 mark on low volumes 

    2nd March, 2009 14:29

    It has been a tough day expectedly for the market. Reliance has come and gone but the Nifty is stuck below that 2,700 mark. It has not collapsed to be fair, but do

  • S Majumder underweight on Idea Cellular

    2nd March, 2009 14:16

    Shubham Majumder of Macquarie Research is underweight on Idea Cellular.

  • See 2500-3000 band for Nifty in near-term: Emkay Global 

    2nd March, 2009 14:14

    Anish Damania, Emkay Global Financial Services said the Nifty will move in a 2,500 to 3,000 band for sometime. "While a few global markets have broken their lows t

  • Mkts extend losses on weak European cues

    2nd March, 2009 14:04

    Markets have extended losses further, as sell-off continues in banking, metal, telecom, technology, oil & gas, power and capital goods stocks. Midcap and small cap

  • TCS takes a dip

    2nd March, 2009 14:01

    TCS had touched an intraday high of Rs 482 and an intraday low of Rs 460.30. At 1:59 pm, the share was quoting at Rs 462.80, down Rs 20.3, or 4.2% on the Nifty. It

  • Asian mkts trading weak on banking and economy concerns 

    2nd March, 2009 14:00

    Asian markets are trading weak on banking as well as economy concerns. In Japanese markets heavy selling pressure was seen in the banking stocks following the US p

  • Suzlon Energy slips further

    2nd March, 2009 13:54

    Suzlon Energy had touched an intraday high of Rs 40 and an intraday low of Rs 38.70. At 1:45 pm, the share was quoting at Rs 38.85, down Rs 1.7, or 4.19%. It was t

  • Hrithik moves away from dad!

    2nd March, 2009 13:42

    Hrithik Roshan it seems have moved a bit further in life. That is, his old office next to his father's to a brand new building in Oshiwara. Well, the buzz around t

  • RPL shareholders to gain from diversification: Uday Kotak 

    2nd March, 2009 13:39

    Sharing his views on the biggest news of the day––the RIL-RPL merger, Uday Kotak, VC and MD of Kotak Mahindra Bank, said the timing of merger is appropriate. He po

  • Reliance Money negative on IT Sector

    2nd March, 2009 13:30

    Reliance Money has maintained its negative view on IT sector. In the last one year it’s been quite a roller-coaster ride for the world economy , with US economy ge

  • Reliance Money negative on automobile sector

    2nd March, 2009 13:17

    Reliance Money has maintained its negative outlook on the automobile sector. The Automobile industry has been facing weak demand. The research firm assesses the ma

  • Maintain buy on RIL, target price Rs 1550: CLSA

    2nd March, 2009 13:14

    Following the Reliance Industries (RIL) and Reliance Petroleum (RPL) merger, CLSA (Credit Lyonnais Securities Asia) has said they will keep a buy on RIL post swap

  • Do not invest in Ranbaxy: Srivastava 

    2nd March, 2009 13:01

    Ajay Srivastava, Dimensions Consulting is of the view that one shouldn’t invest in Ranbaxy Laboratories because let the international scenario clear out and so let

  • HCL Tech strikes 52-week low

    2nd March, 2009 13:00

    HCL Technologies has touched a 52-week low of Rs 96. At 12:52 pm, the share was quoting at Rs 96.20, down Rs 3.7, or 3.7%. It was trading with volumes of 29,790 sh

  • Buy Jubilant Organosys, target of Rs 165: Karvy

    2nd March, 2009 12:53

    Karvy Stock Broking has maintained its buy rating on Jubilant Organosys with a price target of Rs 165. Jubilant has repurchased its FCCB issue worth USD 59.4 milli

  • Indian GDRs: Satyam plunges 19%, Grasim down 6%

    2nd March, 2009 12:45

    Indian GDRs: Satyam plunged 19.25% at USD 1.30, Grasim declined 5.93% at USD 27.28, Tata Motors slipped 5.14% at USD 3.51, Sterlite was down 3.16% at USD 4.60, RIL

  • RIL-RPL merger: New entity to emerge stronger, say experts 

    2nd March, 2009 12:39

    The RIL-RPL merger will strengthen the books and cash flows for Reliance.

  • TVS Motor gears up

    2nd March, 2009 12:26

    TVS Motor Company had touched an intraday high of Rs 21.10 and an intraday low of Rs 19.25. At 12:18 pm, the share was quoting at Rs 20.90, up Rs 1.55, or 8.01%. I

  • Orbit Corporation up on buying interest

    2nd March, 2009 12:22

    Orbit Corporation had touched an intraday high of Rs 54 and an intraday low of Rs 39.30. At 12:13 pm, the share was quoting at Rs 46.90, up Rs 5.90, or 14.39%. It

  • Need for cash led to lowering ASARCO bid: Sterlite

    2nd March, 2009 12:12

    Sterlite Industries which is a part of the Vedanta Group has cut its bid for ASARCO. The new bid is in the region of USD 1.4 billion and USD 1.5 billion; earlier,

  • Mkts under pressure; RIL, ONGC, Bharti drag

    2nd March, 2009 12:02

    Continuous underperformance in banking, technology, telecom, metal, oil & gas, power and capital goods stocks is putting pressure on the benchmark indices. The Nif

  • Buy Reliance Industries: Tulsian 

    2nd March, 2009 11:58

    Investment Advisor SP Tulsian is of the view that one can start buying RIL today at even these levels because the issue of being favorable for RPL shareholder and

  • ONGC extends losses

    2nd March, 2009 11:49

    ONGC had touched an intraday high of Rs 685.25 and an intraday low of Rs 655.20. At 11:41 am, the share was quoting at Rs 668.40, down Rs 22.75, or 3.29%. It was t

  • Highlights of RIL-RPL merger

    2nd March, 2009 11:41

    Highlights from the RIL-RPL merger: a). RPL shareholders to get 1 Share of RIL for every 16 shares held b). RIL to cancel holding in RPL c). RIL to extinguish 13%

  • Block deal in Cairn India; stk slips 3%

    2nd March, 2009 11:27

    Cairn India had touched an intraday high of Rs 166 and an intraday low of Rs 161.10. At 11:15 am, the share was quoting at Rs 161.95, down Rs 5.1, or 3.05%. There

  • PNB among major losers

    2nd March, 2009 11:18

    PNB is among major losers on the Nifty. At 11:16 am, the share was quoting at Rs 325.75, down Rs 11.85, or 3.51%. It had touched an intraday high of Rs 338 and an

  • ACC takes further dip

    2nd March, 2009 11:10

    ACC has continued to fall. It had touched an intraday high of Rs 529 and an intraday low of Rs 516.80. At 11:02 am, the share was quoting at Rs 522.30, down Rs 17.

  • Sterlite cuts bid for Asarco to $ 1.5 bn; stk down

    2nd March, 2009 11:00

    Sterlite Industries had touched an intraday high of Rs 242 and an intraday low of Rs 236.55. At 10:58 am the share was quoting at Rs 239.35, down Rs 5.65, or 2.31%

  • Infosys cuts 5% work force in Australian unit; stk slips

    2nd March, 2009 10:59

    Infosys Technologies had touched an intraday high of Rs 1,219.70 and an intraday low of Rs 1,201.10. At 10:59 am, the share was quoting at Rs 1,206.55, down Rs 24.

  • Reliance Infrastructure loses further ground

    2nd March, 2009 10:56

    Reliance Infrastructure had touched an intraday high of Rs 480 and an intraday low of Rs 470. At 10:49 am, the share was quoting at Rs 476.30, down Rs 14.3, or 2.9

  • Power Grid trips on selling pressure

    2nd March, 2009 10:52

    Power Grid has slipped today. It had touched an intraday high of Rs 94.40 and an intraday low of Rs 92.15. At 10:44 am, the share was quoting at Rs 92.70, down Rs

  • Thai company eyes stake in United Spirits; stk down

    2nd March, 2009 10:35

    United Spirits had touched an intraday high of Rs 616 and an intraday low of Rs 599. At 10:35 am, the share was quoting at Rs 604.90, down Rs 17.85, or 2.87% on th

  • Sell Crude MCX 1st Month Future at Rs 2259: Hem

    2nd March, 2009 10:30

    Hem Securities has recommended to sell Crude MCX 1st Month Future at Rs 2259 with a stoploss of Rs 2284 and a target of Rs 2222.

  • ICICI Bank among majoe losers

    2nd March, 2009 10:28

    ICICI Bank is among major losers on the Sensex. It had touched an intraday high of Rs 321.65 and an intraday low of Rs 313. At 10:20 am, the share was quoting at R

  • Punj Lloyd may slip to Rs 65: Gujral 

    2nd March, 2009 10:20

    Technical Analyst, Ashwani Gujral is of the view that below Rs 80 Punj Lloyd may slip to Rs 65.

  • RBI allows FIIs to buy further shares of SBI; stk plunges

    2nd March, 2009 10:13

    SBI has touched a 52-week low of Rs 991. At 09:56 am, the share was quoting at Rs 993, down Rs 34.1, or 3.32%. RBI has allowed FIIs to buy further shares of the ba

  • Tata Steel melts down 4%

    2nd March, 2009 10:10

    Tata Steel had touched an intraday high of Rs 170.75 and an intraday low of Rs 165.15. At 10:10 am, the share was quoting at Rs 165.80, down Rs 7, or 4.05% on the

  • RIL slips on merger news with RPL

    2nd March, 2009 09:59

    RIL had touched an intraday high of Rs 1,249.70 and an intraday low of Rs 1,215.10. At 09:59 am, the share was quoting at Rs 1,237.90, down Rs 28.15, or 2.22% on t

  • RIL has support at Rs 1200: Gujral 

    2nd March, 2009 09:55

    Technical Analyst, Ashwani Gujral is of the view that Reliance Industries, RIL has support at Rs 1200. This news will not have any effect beyond first half an hour

  • Sensex has support at 8820-8770: ICICIdirect.com

    2nd March, 2009 09:52

    According to ICICIdirect.com's report, the Sensex has supports at 8820 and 8770 and resistances at 8930 and 8980.

  • Sell Gold April around Rs 15580-15600: Bonanza

    2nd March, 2009 09:48

    Bonanza has recommended to sell Gold April at around Rs 15580-15600 with stoploss above Rs 15705 and target of Rs 15405-15220.

  • Sell USD March at 51.20-51.30: Bonanza

    2nd March, 2009 09:38

    Bonanza has recommended to sell USD March at 51.20-51.30 with stoploss above 51.70 and target of 50.50, 50.

  • Nifty likely to trade between 2700-3000: FinQuest Sec

    2nd March, 2009 09:32

    According to FinQuest Securities' report, on the lower side Nifty has been finding support at 2700-2680 zone. Thus in the bigger picture, Nifty is likely to trade

  • Nifty has support at 2680-2700: Reliance Money

    2nd March, 2009 09:25

    According to Reliance Money's Morning Notes, NIFTY is still trading very close to its mentioned support range of 2680-2700 levels. Only sustained close below this

  • Nifty to break down to 2635-2550 levels: Gujral 

    2nd March, 2009 09:18

    Technical Analyst Ashwani Gujral said the markets may open gap down. "The Nifty Put Call is at around 1.4. We may now break down from 2,700-2,800 to about 2,635-2,

  • Expect stocks to fall today: Mohoni

    2nd March, 2009 09:07

    European markets declined on Friday, and the US indices also went down. Asian markets are also down quite heavily this morning, and the global short-term trend is

  • RIL-RPL merger not a material event for shareholders 

    2nd March, 2009 09:01

    But next week, one will speak less and less about RIL-RPL merger because much that the analysts are putting out lots of notes about how this is positive or negativ

  • 10-year yield seen between 6.25-6.35%: Sampat

    2nd March, 2009 08:57

    The RBI buyback of Rs 9,000 crore and MSS conversion will be positive for bond yields. Call rates are seen between 4.10-4.15%. The range for the 10-year yield is s

  • Sajiv Dhawan suggests selling on every rally

    2nd March, 2009 08:55

    Market lacks conviction on the upside, suggest selling on every rally, Sajiv Dhawan said.

  • Fund Action witnesses in Satyam, Aban Offshore

    2nd March, 2009 08:51

    Fund Action witnessed in Satyam, Aban Offshore, Asian Electronic, Karur Vysya Bank, SREI Infrastructure, Union Bank of India, Navneet Publications, United Brewerie

  • Sensex has support at 8631: Gaba

    2nd March, 2009 08:36

    The supports for Sensex are at 8631 and resistance to the up move is at 9157-9284. From a trading point of view I would be cautious, as the sideways market is alwa

  • Support for Nifty at 2730-2685: Gaba

    2nd March, 2009 08:34

    The support for the Nifty is at 2730-2685 and the resistance to the up move is at 2824.

  • Nifty has support at 2680-2700: Gujral

    2nd March, 2009 08:28

    Market may have negative opening today. Supports for Nifty are at 2680-2700 and resistances are at 2800-2830.

  • S&P 500 loses 18.6% YTD

    2nd March, 2009 08:24

    S&P ended at 12-year low as US GDP declined 6.2% in 4Q and government increased stake in Citi, GE slashed its dividend.

  • Market cues: FIIs net sell $59 mn

    2nd March, 2009 08:20

    Market cues: FIIs net sell USD 59 million and MFs net buy Rs 65 crore in equity on February 26.

  • Transaction-based pricing in favour: Infosys BPO

    2nd March, 2009 08:15

    Infosys BPO said it was seeing traction with transaction-based pricing model as customers look to convert their capital expenditure to operational expenditure whil

  • Asia trading weak; Nikkei tumbles 3.2%

    2nd March, 2009 08:13

    Asian markets were trading weak. China's Shanghai Composite fell 0.89% or 18.50 points at 2,064.34. Hong Kong's Hang Seng plunged 2.82% or 361.58 points at 12,449

  • FIIs net sell Rs 463 cr in cash markets on Friday

    2nd March, 2009 08:07

    Reliance Industries, RIL board meet will consider merger with Reliance Petroleum, RPL. The combined entity will be 16.8% of market cap of all Sensex companies.

  • Roche vs Cipla: Dispute over Valcyte's patent 

    2nd March, 2009 22:38

    A solution to drug-maker Roche's dispute with Cipla over anti-infective drug Valcyte will take a while. The Supreme Court has asked Roche not to push for an injunc

  • The Phantom Coupe rolls out! 

    2nd March, 2009 22:16

    2009 has been a flat year for super luxury car maker Rolls Royce, but the company hopes to sell 14 cars this year, including its latest offering -- The Phantom Cou

  • See FY09, FY10 EPS at Rs 15/sh: Edserv Softsystems 

    2nd March, 2009 21:36

    S Giridharan, CEO of Edserv Softsystems, said the company’s FY09 and FY10 EPS is likely to be over Rs 15 per share. He said the company’s share base was 1.2 crore

  • Mkts end deep in red, near Oct ’08 lows 

    2nd March, 2009 20:30

    It was a dismal Monday on Dalal Street. Global markets cracked sharply and our markets too fell in line with their global peers. The Nifty closed at 2,674 down 89

  • IDBI Bank reduces interest rates

    2nd March, 2009 20:15

    IDBI Bank Ltd. has reviewed its Retail Lending rates on Home Loans and has reduced the floating interest rates by 100 bps for loans up to Rs 20 lakh.

  • Buy Sintex Industries, target of Rs 112: Emkay Global

    2nd March, 2009 20:01

    Emkay Global Financial Services has maintained its buy rating on Sintex Industries with a target price of Rs 112. The research expects stumbling blocks in key busi

  • Markets end weak: Nirmal Bang

    2nd March, 2009 19:19

    According to Nirmal Bang's report, the Sensex ended the day at 8,607 down 285 points or 3% after hitting an intraday low of 8,563.The NSE Nifty at last broke the c

  • SBI lowers deposit rates by 40-50 bps in few maturities

    2nd March, 2009 18:57

    State Bank of India has revised its deposit rates downwards by 40 bps to 50 bps in a few maturities effective March 9 .

  • Hope to produce 500 tonne of silver by 2011-12: Vedanta 

    2nd March, 2009 18:53

    Vedanta Group has recently discovered silver and with its arm Hindustan Zinc, the company may be the 'silver king' by 2013. Anil Agarwal, Chairman Vedanta Group, s

  • RIL, RPL merger comprehensive analysis 

    2nd March, 2009 18:37

    The mega merger is announced, Reliance Petroleum shareholders will get one reliance share for every 16 shares held and Reliance will extinguish treasury stock.

  • RIL, RPL merger: A comprehensive CNBC-TV18 analysis

    2nd March, 2009 18:25

    Reliance Petroleum shareholders will get one Reliance share for every 16 shares held. That means a dilution of 4.4% of fully diluted RIL equity. The management mad

  • Cement production up 9.53% at 29.24L in Feb

    2nd March, 2009 18:17

    Cement companies have announced its February sales numbers. Production for February rose by 9.53% at 29.24 lakh million tonne. Dispatches are up by 10.08% at 29.19

  • RPL adds 27 lakh shares in OI 

    2nd March, 2009 17:35

    F&O turnover at Rs 35000 crore. The PCR is just hovering around 1.40 mark. Reliance Industries has added 7 lakh shares in open interest and RPL has added 27 lakh s

  • Re fall due to global risk aversion to EMs, no aid from RBI 

    2nd March, 2009 17:30

    The rupee has been falling much before the trade data began to show weakness last week. A lot of currencies across the Asian continent fell. This fall in Asian cur

  • Rupee ends at record low  

    2nd March, 2009 17:10

    The rupee plummeted to a record low for the second consecutive session today, close to the 52 per USD mark. The spot rupee ended at new record low of Rs 51.92 per

  • Instanex FII Index down 3.07%

    2nd March, 2009 16:52

    FIIs seemed to have followed domestic investors and speculators today, pressing sales, but not leading the market lower.

  • Lows seen by global mkts to persist: MF Global 

    2nd March, 2009 16:24

    Manus Cranny of MF Global Spread feels the lows which global markets are seeing will persist.

  • Sell banking stocks on rallies: Sukhani 

    2nd March, 2009 16:20

    Technical Analyst, Sudarshan Sukhani is of the view that one should sell banking stocks on rallies.

  • Bank stocks crash; Syndicate, ICICI Bk, Axis Bk down 7-14%

    2nd March, 2009 16:15

    The markets have closed weak as all sectoral stocks witnessed heavy sell-off. The banking stocks were hammered badly. Selling pressure was also seen in metal, capi

  • Experts deconstruct the RIL-RPL merger

    2nd March, 2009 16:13

    “The timing of this merger has been very appropriate. RIL is a diversified company, and post this merger, it will be among the top-10 refiners in the world,” Uday

  • Thomas Cook’s operating profit up 19% YoY 

    2nd March, 2009 16:08

    Madhavan Menon, MD, Thomas Cook said operating profit of the company is up 19% over the previous year. He also pointed out that room-rates as well as transportatio

  • Orissa Sponge can grow into 4m tn steel plant: Monnet Ispat 

    2nd March, 2009 15:59

    Sandeep Jajodia, Executive Vice-Chairman and Managing Director, Monnet Ispat & Energy, said there is a lot of potential to grow Orissa Sponge in the business itsel

  • Buy Mphasis, target of Rs 240: Emkay Global

    2nd March, 2009 15:54

    Emkay Global Financial Services has maintained its buy rating on Mphasis with a price target of Rs 240. Net profits at Rs 2100 million (+14.7% QoQ, +271.1% YoY) be

  • Mohit Verma quits as CIO-Debt of JM Financial MF

    2nd March, 2009 15:47

    Mohit Verma has resigned from the services of JM Financial Asset Management with effect from February 25, 2009

  • BO Report: Audience give Siddharth-KPK a miss

    2nd March, 2009 15:45

    The films maintained 6-8% occupancy

  • Don't see foreign fund inflows in emerging mkts: LGT Cap 

    2nd March, 2009 15:37

    Roger Groebli, Executive Director, LGT Capital Management the markets in Middle East and the emerging markets are not only facing general problems because of the e

  • Nifty ends below 2700; Metal, Bank indices dip over 4%

    2nd March, 2009 15:34

    Markets have witnessed huge selling pressure and have fallen in sync with the global markets. Relentless selling was seen in banking, metal, capital goods, power a

  • Govt lifts ban on import of China toys; Hanung Toys up

    2nd March, 2009 15:27

    Hanung Toys and Textiles had touched an intraday high of Rs 34.50 and an intraday low of Rs 26.25. At 3:16 pm, the share was quoting at Rs 31, up Rs 1.20, or 4.03%

  • Sensex tests 8600; bank, metal, O&G, CG slip

    2nd March, 2009 15:11

    The benchmark indices are trading with southward bias on account of downtrend in banking, metal, power, capital goods and oil & gas stocks. L&T has broken Rs 600 m

  • Apollo Tyres to consider buyback; stk rises 16%

    2nd March, 2009 15:09

    Apollo Tyres had touched an intraday high of Rs 17.80 and an intraday low of Rs 14.75. At 3:08 pm, the share was quoting at Rs 17.50, up Rs 2.45, or 16.28% on the

  • Sandeep Sabharwal separates from JM Financial MF

    2nd March, 2009 15:00

    JM Financial Mutual Fund has announced the change in the key personnel of the AMC

  • Asian markets end lower; Straits Times down 4.43%

    2nd March, 2009 14:57

    Asian markets have ended lower. Hong Kong's Hang Seng tumbled 3.86% or 494.11 points at 12,317.46. Japan's Nikkei lost 3.81% or 288.27 points at 7,280.15. Singapor

  • Nifty futures trading with 30 pts discount 

    2nd March, 2009 14:50

    The F&O turnover stood at Rs 26,660 crore and Rs 33,770 crore in total. The Nifty futures are constantly trading with discount of over 30 points. It has added abou

  • Macquarie ups weightage on telecom cos: An analysis 

    2nd March, 2009 14:42

    Macquarie is re-looking at India as a part of the Asian telecom market and has upped its weightage of India. Shubham Mujumdar, Analyst, Macquarie Research, said in

  • ICICI Banks adds 7 lakh shares in open interest

    2nd March, 2009 14:36

    RPL's 75 Call and 80 Call are very aggressive. Nifty 2,600 put has added nearly 22% in OI. ICICI Banks has added 7 lakh shares in open interest. Tata Steel has add

  • Axis Bank plunges 7%

    2nd March, 2009 14:34

    Axis Bank has touched a 52-week low of Rs 321. At 2:26 pm, the share was quoting at Rs 323, down Rs 24.95, or 7.17%. It was trading with volumes of 375,909 shares.

  • Larsen touches 52-week low

    2nd March, 2009 14:23

    Larsen and Toubro had touched a 52 week low of Rs 588.50. At 2:23 pm, the share was quoting at Rs 589.70, down Rs 24.05, or 3.92% on the NSE. It was trading with v

  • Only buyers in HMT, stock up

    2nd March, 2009 14:15

    HMT is locked at 10% upper circuit. It has touched an intraday high of Rs 31.90 and an intraday low of Rs 29.30. At 2:06 pm, the share was quoting at Rs 31.90, up

  • European mkts trading weak; CAC, FTSE down 3%

    2nd March, 2009 14:08

    European markets were trading weak. CAC 40 plunged 2.90% or 78.27 points at 2,624.21. DAX declined 2.55% or 98.19 points at 3,745.55. FTSE 100 tumbled 3.02% or 115

  • RIL has support at Rs 1210-1220: Bhambwani 

    2nd March, 2009 14:02

    Technical Analyst, Vijay Bhambwani is of the view that Reliance Industries has support at Rs 1210-1220. Unless and until this support is violated a trader could at

  • Jain Irrigation plans to raise $45m from IFC

    2nd March, 2009 14:01

    Jain Irrigation Board today approved allotment of upto 2mn Equity Shares of Rs 10 each to International Finance Corporation, Washington on a prefere

  • SAIL extends losses

    2nd March, 2009 14:00

    SAIL had touched an intraday high of Rs 74.80 and an intraday low of Rs 72.75. At 1:58 pm, the share was quoting at Rs 73.30, down Rs 2.7, or 3.55%. It was trading

  • FIIs selling aggressively, Index dips 2.5%

    2nd March, 2009 13:43

    FIIs seem to have begun selling aggressively. At 1pm, the Instanex FII Index has fallen to 195.72, down 2.49% and the more broad-based Nifty is down 2.45% and Sens

  • Reliance Comm among major losers

    2nd March, 2009 13:41

    Reliance Communications is among major losers on the Sensex. It has touched a 52-week low of Rs 148.60. At 1:32 pm, the share was quoting at Rs 149, down Rs 6.45,

  • Kolte-Patil Dev shoots up smartly

    2nd March, 2009 13:35

    Kolte-Patil Developers had touched an intraday high of Rs 24.60 and an intraday low of Rs 21.15. At 1:27 pm, the share was quoting at Rs 23.50, up Rs 2.30, or 10.8

  • Crude has support at USD 40/bbl 

    2nd March, 2009 13:23

    In the near-term, it is USD 40/bbl on the lower side, which should continue to hold as support and on the higher side, USD 47 /bbl is the resistance.

  • Mah and Mah leads gainers on the Sensex

    2nd March, 2009 13:15

    Mahindra and Mahindra is top gainer on the Sensex. It had touched an intraday high of Rs 325.50 and an intraday low of Rs 297.30. At 1:06 pm, the share was quoting

  • Fortis Healthcare up on huge volume

    2nd March, 2009 13:05

    Fortis Healthcare had touched an intraday high of Rs 75 and an intraday low of Rs 64.75. At 12:57 pm, the share was quoting at Rs 69.00, up Rs 4.05, or 6.24%. It w

  • Mkts southbound; Bank, IT, metal, oil & gas plunge

    2nd March, 2009 13:01

    The markets are still trading weak. The Nifty continues to trade below 2700 mark. Except auto, all other sectoral indices are trading negative. The BSE Bankex is w

  • Rupee at all-time low of 51.80/$; Citi sees 54/$ ahead

    2nd March, 2009 12:55

    The Indian rupee is at a record low of Rs 51.80 per dollar on the back of dollar buying by oil companies. Most other Asian currencies fell too on global risk avers

  • Puravankara Projects bounces back

    2nd March, 2009 12:50

    Puravankara Projects had touched an intraday high of Rs 45.20 and an intraday low of Rs 36.60. At 12:41 pm, the share was quoting at Rs 40.55, up Rs 2.15, or 5.60%

  • TV Today Network puts on a good show

    2nd March, 2009 12:41

    TV TodayNetwork had touched an intraday high of Rs 62.95 and an intraday low of Rs 55. At 12:33 pm, the share was quoting at Rs 58.50, up Rs 4.05, or 7.44%. It was

  • Wipro looks weak: PN Vijay 

    2nd March, 2009 12:38

    Portfolio Manager, PN Vijay is of the view that Wipro is looking weak.

  • Do not buy Ranbaxy: PN Vijay 

    2nd March, 2009 12:25

    Portfolio Manager, PN Vijay is of the view that one shouldn't buy Ranbaxy Laboratories.

  • Hindustan Zinc advances 6%

    2nd March, 2009 12:14

    Hindustan Zinc had touched an intraday high of Rs 342.80 and an intraday low of Rs 318. At 12:06 pm, the share was quoting at Rs 340.40, up Rs 19.40, or 6.04%. It

  • Dewan Housing to consider rights issue, stock up

    2nd March, 2009 12:07

    Dewan Housing Finance Corporation had touched an intraday high of Rs 56 and an intraday low of Rs 51.55. At 11:58 am, the share was quoting at Rs 54.80, up Rs 1.90

  • Merger with RPL positive for RIL: Dimensions Consulting 

    2nd March, 2009 11:59

    Ajay Srivastava, Dimensions Consulting said RIL-RPL deal is positive for RIL and RIL will benefit from the cash flows.

  • Reliance Capital touches 52-week low

    2nd March, 2009 11:54

    Reliance Capital has touched a 52-week low of Rs 336. At 11:45 am, the share was quoting at Rs 339, down Rs 13, or 3.69%. It was trading with volumes of 499,678 sh

  • Do not buy RPL, says Tulsian

    2nd March, 2009 11:42

    Investment Advisor SP Tulsian feels that there is no point in buying further stocks of RPL because if it moves from Rs 75 to Rs 100 obviously you will see the equi

  • Below Rs 145-150, Tata Steel may slip to Rs 125-130: Gujral 

    2nd March, 2009 11:34

    Technical Analyst, Ashwani Gujral is of the view that below Rs 145-150, Tata Steel may slip to Rs 125-130.

  • Glenmark in good health

    2nd March, 2009 11:23

    Glenmark Pharma had touched an intraday high of Rs 150.90 and an intraday low of Rs 140. At 11:14 am, the share was quoting at Rs 150.45, up Rs 6.10, or 4.23%.

  • RIL-RPL merger ratio should have been 1:20, says SP Tulsian 

    2nd March, 2009 11:15

    SP Tulsian of sptulsian.com said book value is the right way of taking a call on the swap ratio.“For FY10, if I take the equity of RIL, it will be about Rs 130, bu

  • RPL merger to unlock synergies in crude sourcing: RIL 

    2nd March, 2009 11:05

    RIL, CFO, Alok Agarwal, in a press conferernce stated that the promoter holding in RIL would now reduce to 47% from 49%. According to him, the integrated energy co

  • Buy Jeera March between Rs 11100-11150: Bonanza

    2nd March, 2009 11:00

    Bonanza has recommended to buy Jeera March in the range of Rs 11100-11150 with stoploss below Rs 11000 and target of Rs 11350-11450.

  • RIL-RPL deal will have potential tax benefits: Anand Rathi 

    2nd March, 2009 10:59

    Commenting on the RIL-RPL merger, Ratnesh Kumar, CEO–Institutional Equities at Anand Rathi Financial Services, said the RIL-RPL deal is positive for operational sy

  • Nifty struggles @ 2700; bank, IT, power, RIL, ONGC dip

    2nd March, 2009 10:56

    The markets are trading sharply lower, as the sell-off continues in banking, metal, telecom, technology, oil & gas, FMCG and power stocks. Broader indices are also

  • Nano launch won't affect our sales: Maruti Suzuki 

    2nd March, 2009 10:43

    With regard to the launch of Tata Nano, RC Bhargava of Maruti Suzuki, said it is a product which has definitive segment for itself. He, thus, does not expect the e

  • HDFC Bank declines 4%

    2nd March, 2009 10:30

    HDFC Bank had touched an intraday high of Rs 876.95 and an intraday low of Rs 850.10. At 10:31 am, the share was quoting at Rs 852.55, down Rs 36.95, or 4.15% on t

  • FIIs not aggressive sellers today, Index down 2.3%

    2nd March, 2009 10:30

    While FIIs have continued their selling, they do not seem to be aggressive sellers today. At 10am, the broad-based Nifty is down 2.50%, the Instanex FII Index is d

  • Car, Two Wheelers Feb '09 sales surge

    2nd March, 2009 10:26

    Four Wheelers and Two Wheelers auto companies have announced its February sales numbers. Four Wheeler giant Maruti Suzuki India February sales were up at 79,190 un

  • Zee Entertainment continues to fall

    2nd March, 2009 10:16

    Zee Entertainment Enterprises has continued to fall. It had touched an intraday high of Rs 106.50 and an intraday low of Rs 101. At 10:17 am, the share was quoting

  • Market may test 2630 and bounce back: KR Choksey 

    2nd March, 2009 10:11

    Deven Choksey of KR Choksey Securities said the market may test 2,630 and bounce back from that level.

  • Unitech to sell Delhi office; stk down

    2nd March, 2009 10:05

    Unitech had touched an intraday high of Rs 28 and an intraday low of Rs 27.30. At 10:05 am, the share was quoting at Rs 27.70, down Rs 0.55, or 1.95% on the NSE. T

  • EdServ Softsystems lists at issue price of Rs 60

    2nd March, 2009 09:59

    EdServ Softsystems, an e-learning company listed at Rs 60 on the NSE at its issue price. At 9.59 am the share was trading at Rs 64 on the NSE at a premium of 6.67%

  • Mkts slip on weak global cues; Nifty below 2700

    2nd March, 2009 09:53

    The benchmark indices have opened lower in sync with the global markets. Asian markets have slipped 3-5% barring Shanghai that lost just 0.4% while on Friday, S&P

  • RIL-RPL merger good in the long run: PN Vijay 

    2nd March, 2009 09:48

    Portfolio Manager PN Vijay said the RIL-RPL merger is good in the long run though in the short term, RIL’s EBITDA may take a hit, given its low refining margins.

  • Network18 board approves hike in FII limit to 49%

    2nd March, 2009 09:46

    Network18 said board approves hike in FII limit to 49% and approved issue of 2.5 crore equity shares inclusive preferential allotment, reports CNBC-TV18.

  • Asian markets plunge; Nikkei, Seoul Composite slip 4%

    2nd March, 2009 09:37

    Asian markets were trading lower. China's Shanghai Composite slipped 0.37% or 7.71 points at 2,075.08. Hong Kong's Hang Seng tumbled 3.73% or 477.83 points at 12,3

  • See 8-10% upside in Tata Steel in near term 

    2nd March, 2009 09:25

    Tata Steel could get another 8-10% kind of upside in the near-term on the back of better than reported results and some short covering.

  • Expect weak opening: Karvy

    2nd March, 2009 09:20

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

  • RIL seems to be a better bet than RPL: Anagram

    2nd March, 2009 09:13

    According to Anagram Research's report, as of now, RIL seems to be a better bet than RPL.

  • Rupee at all-time low at 51.80/$; Citi sees 54/$ ahead

    2nd March, 2009 09:01

    The Indian Rupee is at a record low of Rs 51.80 per dollar versus Rs 51.11 Friday. According Subramaniam Sharma, Greenback Forex Services, the rupee will continue

  • Asian mkt recovery still dependent on US: Stephen Davies 

    2nd March, 2009 09:00

    Stephen Davies, CEO at Javelin Wealth Management believes that for Asia to recover we need to see offshore demand recover and export demand from Asia beginning pic

  • Global cues, RIL-RPL merger to watch out for 

    2nd March, 2009 08:57

    There may be a tussle between cues today––global markets are plunging on the one hand and there is a likely RIL-RPL merger on the other. Thus, it will be an intere

  • Re to remain under pressure: Greenback Forex

    2nd March, 2009 08:53

    According Subramaniam Sharma, Greenback Forex Services, the rupee will continue to remain under pressure. Negative global market cues and pressure from importers w

  • Nifty can go down to 2300 in medium-term: IL&FS

    2nd March, 2009 08:49

    The sentiment remains negative and the market is likely to fall further from here. The Nifty can go down to 2,300 in the medium-term.

  • RIL-RPL merged: Swap ratio fixed at 1:16

    2nd March, 2009 08:35

    The RIL-RPL boards have decided the swap ratio at 1:16 which implies that RPL shareholders will get one RIL share for every 16 shares held in RPL. RIL has decided

  • Pull-back before a further fall: Vasudeo

    2nd March, 2009 08:31

    Weekly resistance will be at 9053 and 9433. The first resistance coincides with the retracement of 9045, which will act as an important resistance. On further fall

  • Avoid big ticket trades: Bhambwani

    2nd March, 2009 08:26

    The outlook for the markets today is that of guarded optimism as overseas cues must be firm to facilitate an up move. Big ticket trades must be ignored.

  • F&O cues: NSE F&O Open Int up by Rs 3430 cr

    2nd March, 2009 08:22

    F&O cues: NSE F&O Open Int up by Rs 3,430 crore to Rs 45,541 crore. Nifty March futures trading at a 28 point discount versus 20 point discount.

  • Nokia collects 3 tonnes mobile waste in 45 days

    2nd March, 2009 08:17

    With most Indians changing their mobile handsets every 18 months, the need to find safe ways to dispose of old mobile phones has grown.

  • Stocks in news: RIL, RPL, Satyam, Tata Steel, Sterlite

    2nd March, 2009 08:14

    Stocks in news: RIL board meet will be today to mull merger with RPL. Satyam board has arrived at a decision on sale process, sources said. Sterlite cut bid for As

  • Positive trend likely in pepper prices

    2nd March, 2009 08:09

    Good domestic demand, tight availability of indigenously produced physical pepper, weak rupee against dollar crossing Rs 51 level, making imports costlier and relu

  • Thomas Cook Q4 cons net profit at Rs 4.3 cr

    2nd March, 2009 07:25

    Thomas Cook has announced its fourth quarter numbers. Its Q4 consolidated net profit went down at Rs 4.3 crore versus Rs 21.4 crore and income stood at Rs 72.8 cro

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