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Moneycontrol News Archive : 4 May, 2009

  • 12-13X PEs show bottoming out has happened: Tata MF 

    4th May, 2009 20:19

    Ved Prakash Chaturvedi, Managing Director of Tata MF, said there are emerging signs that the market may turn around in a year. “Foreign flows are encouraging, and

  • SEBI issues showcause notice to RPL: Sources 

    4th May, 2009 19:52

    Market sources have reported that SEBI, following the completion of its investigation, has issued a showcause notice to Reliance Petroleum for alleged insider trad

  • Crude has resistance at $ 48/bbl on downside: Sharekhan

    4th May, 2009 19:17

    According to Sharekhan's report, crude oil has finally breached the long consolidation pattern on good volume. The likely target of this current up-move is initial

  • Left-out feeling leads to panic buying 

    4th May, 2009 19:00

    this is buying panic. We have been saying continuously for the last one or two months that a lot of people are still sitting on the sidelines, there is still a lot

  • Politics has no interval; is an endless show: Chiranjeevi 

    4th May, 2009 18:41

    Telugu film megastar Chiranjeevi’s entry into electoral politics has galvanised not just the state of Andhra Pradesh but the entire nation. We find out how the pas

  • Markets end on strong note: Nirmal Bang

    4th May, 2009 18:08

    According to Nirmal Bang's report, the benchmark indices ended on a very strong note on the first day of the May series on the back of positive Asian cues and huge

  • Buy Cadila Healthcare, target of Rs 383: Sharekhan

    4th May, 2009 17:55

    Sharekhan has maintained a buy rating on Cadila Healthcare with a price target of Rs 383. The total operating income of the company grew by 28.8% to Rs 723.4 crore

  • Buy Larsen, says R Jain 

    4th May, 2009 17:45

    Rajesh Jain of Pranav Securities is of the view that one can buy Larsen and Toubro. Ahead of the election outcome and the formation of the government, the two spac

  • Rupee ends higher; bonds lower

    4th May, 2009 17:35

    The spot rupee closed higher at Rs 49.90 per USD as against its previous close of Rs 50.08.

  • Hold Bank of India, target of Rs 281: Sharekhan

    4th May, 2009 17:21

    Sharekhan has maintained its hold rating on bank of India with a price target of Rs 281. BoI reported a net profit of Rs 810.4 crore for Q4FY2009, indicating a gro

  • See crude in $55-70/bbl range in Q3: G Chandrashekhar 

    4th May, 2009 17:05

    G Chandrashekhar, Commodities Editor, Business Line expects crude prices to range between USD 55 per barrel and USD 70 per barrel in Q3 (July-August-September).

  • Customers entry decreases by 11% in FY09: Shoppers' Stop

    4th May, 2009 16:55

    The total square feet area covered is 18, 29,000. The customer entry for Shoppers' Stop decreased by 11% for FY09. The transaction size has increased by 9% for the

  • Instanex FII Index up 6.36%

    4th May, 2009 16:52

    At close, the Instanex FII Index was up 6.36% at 269.47 (+6.18% at 3 pm) and the Instanex DII 15 portfolio was up 6.18% (+6.07% at 3 pm). Sensex was up 6.41% (+6.7

  • Pink slips made pain free: HR experts offer some options 

    4th May, 2009 16:42

    Giving the Pink Slip is tough; getting the Pink Slip is even tougher. Learn about laying off with compassion.

  • Experts continue to remain bullish after magnificent Monday 

    4th May, 2009 16:40

    “The Nifty has today achieved the target of 3,650 and the next one could be 3,820,” Technical Analyst Ashwani Gujral said. “Rather than characterizing it as a bear

  • Buy Bharti Airtel, target of Rs 781: Sharekhan

    4th May, 2009 16:36

    Sharekhan has maintained its buy rating on Bharti Airtel with a price target of Rs 781. The consolidated revenues grew by 2% quarter on quarter (qoq) and by 25.6%

  • Indian SME sector in need of more care from government 

    4th May, 2009 16:35

    We are going through perhaps the most difficult times that Indian SMEs (Small and Medium Enterprises) have ever faced. A few stimulus packages have been announced

  • Buy Madhucon Projects, target of Rs 122: PINC Research

    4th May, 2009 16:27

    PINC Research has recommended a buy rating on Madhucon Projects, with a price target of Rs 122. At the CMP of Rs 78, Madhucon Projects trades at a P/E of 5x and EV

  • Buy Aban Offshore, target of Rs 492: KRChoksey

    4th May, 2009 16:24

    KRChoksey has recommended a buy rating on Aban Offshore with a price target of Rs 492. Aban’s sales grew 17% y-o-y to Rs 774.1 crore, adversely affected by the idl

  • SFIO blows the lid off the Satyam scandal 

    4th May, 2009 16:21

    The SFIO has blown the lid off the Satyam scandal. In its report which was submitted to the government on the 13 April it has made startling revelations on the rol

  • Buy Gateway Distriparks, target of Rs 85: PINC Research

    4th May, 2009 16:19

    PINC Research has recommended to buy Gateway Distriparks with price target of Rs 85. Gateway Distriparks’ (GDL) results were above estimates as consolidated revenu

  • Obama completes 100 days in office: How did he fare? 

    4th May, 2009 16:16

    On April 29, President Obama completed 100 days in office. There is no doubt that he has established himself as a superstar amongst politicians. But beyond his sty

  • Reduce JP Associates, target of Rs 137: KRChoksey

    4th May, 2009 15:44

    KRChoksey has recommended a reduce rating on Jaiprakash Associates with a target price of Rs 137. Interest outflow and depreciation costs will continue to hit the

  • See scope for Mundu as int'l messaging cost rise: Geodesic 

    4th May, 2009 15:40

    Kiran Kulkarni, Managing Director of Geodesic, briefing on the recently launched Mundu short messaging services, said one can actually send an SMS at a fraction of

  • Mkts see highest close since Oct 2008; Sensex above 12K

    4th May, 2009 15:36

    It was a roaring start for the May series. The benchmark indices saw biggest single day absolute gain since October 31, 2008; the Sensex closed above the 12,000 ma

  • IOB Q4 net profit up at Rs 322.3 cr

    4th May, 2009 15:26

    Indian Overseas Bank (IOB) has announced its fourth quarter numbers. Its net profit went up to Rs 322.37 crore from Rs 305.95 crore, YoY.

  • Instanex FII Index up 6.18%

    4th May, 2009 15:21

    At 3 pm, the Instanex FII Index is up 6.18% at 269.02 (+5.42% at 2 pm) and the Instanex DII 15 portfolio is up 6.07% (+5.54% at 2 pm). Sensex is up 6.71% (+5.71% a

  • IDFC has target of Rs 100: Gujral 

    4th May, 2009 15:18

    Technical Analyst, Ashwani Gujral is of the view that Infrastructure Development Finance Company, IDFC has target of Rs 100.

  • JP Associates has target of Rs 165: Gujral 

    4th May, 2009 15:17

    Technical Analyst, Ashwani Gujral is of the view that Jaiprakash Associates has target of Rs 165.

  • Hold Arshiya International: India Capital Markets

    4th May, 2009 15:01

    India Capital Markets Pvt Ltd has recommended a hold rating on Arshiya International. Arshiya International has reported a sequential decline of 18% to Rs 940 mill

  • Panic buying pushes markets up 

    4th May, 2009 15:00

    It has been a fantastic session, once can use the phrase or talk about panic buying. People who have been left out are just panicking. After the rally of last coup

  • Buy corporate bonds at 8.5 levels: HSBC Asset Management 

    4th May, 2009 14:56

    With regard to ten-year bond prices, Suyash Choudhary, Head-Fixed Income of HSBC Asset Management (India), does not see 6% as a major resistance in the long run; h

  • Instanex FII Index up 5.42%

    4th May, 2009 14:48

    At 2 pm, the Instanex DII 15 portfolio is up 5.54% (+5.17% at 1 pm) and the Instanex FII Index is up 5.42% at 267.10 (+5.09 at 1 pm). Sensex is up 5.71% (+5.31% at

  • Enter in IDFC at Rs 70: S Sharma 

    4th May, 2009 14:40

    Salil Sharma of Kapur Sharma & Co is of the view that IDFC has seen a lot of gains in the past few weeks and it has strong resistance around Rs 85-86 and it’s very

  • Sensex hovers around 12100; Metal, IT, Bank indices up 6-8%

    4th May, 2009 14:37

    At 14:34 hours IST, relentless buying in technology, metal, banking, realty, FMCG, capital goods and auto was aiding the Sensex and the Nifty to hold their psychol

  • JP Morgan, Citi positive but CLSA circumspect on Indian IT 

    4th May, 2009 14:32

    In a month’s time one would have seen the CNX IT index up close to 16-17% compared to Sensex which is up just 11% and now markets are seeing a whole host of report

  • Shree Renuka Sugars gains 5.4%

    4th May, 2009 14:27

    Shree Renuka Sugars touched an intraday high of Rs 106 and an intraday low of Rs 100. At 2:21 pm, the share was quoting at Rs 103.20, up Rs 5.30, or 5.41%. It was

  • Sell ABB, target of Rs 361: Angel Broking

    4th May, 2009 14:18

    Angel Broking has downgraded its rating on ABB from reduce to sell with a target price of Rs 361. ABB India posted a 9.3% yoy de-growth in its top-line to Rs 1,393

  • Pantaloon Retail up on large volumes

    4th May, 2009 14:11

    Pantaloon Retail was trading with volumes of 873,492 shares. It touched an intraday high of Rs 218 and an intraday low of Rs 192. At 2:07 pm, the share was quoting

  • Gujarat Gas Q1 net profit down at Rs 36 cr

    4th May, 2009 14:10

    Gujarat Gas has announced its first quarter numbers. Its net profit declined to Rs 36 crore from Rs 44.9 crore, YoY.

  • RNRL can touch Rs 67-68: Mohindar

    4th May, 2009 14:00

    Rahul Mohindar of Viratechindia is of the view that RNRL can touch Rs 67-68 in the short-term. One can keep a stoploss of Rs 55 on this stock.

  • Allahabad Bank Q4 net profit up 55.7% at Rs 264 cr

    4th May, 2009 13:54

    Allahabad Bank has announced its fourth quarter numbers. Its net profit went up 55.74% to Rs 264 crore from Rs 169.51 crore, YoY.

  • IDFC shoots up smartly

    4th May, 2009 13:48

    IDFC touched an intraday high of Rs 84.95 and an intraday low of Rs 78.50. At 1:44 pm, the share was quoting at Rs 84.65, up Rs 8.20, or 10.73%. It was trading wit

  • Nifty hovering around 3650; RIL, Infy, ICICI Bank gain

    4th May, 2009 13:12

    At 13.25 hrs IST, the markets were trading strong, as buying was seen across all the sectors. The Sensex continued to trade above the 12,000 mark and the Nifty was

  • Order book currently at Rs 5,163cr: KEC International

    4th May, 2009 13:01

    Ramesh Chandak, MD, KEC International & RPG Transmission, informed CNBC-TV18 that the compnay’s order book currently stands at Rs 5,163 crore.

  • Instanex FII Index up 5.09%

    4th May, 2009 13:00

    At 1 pm, the Instanex DII 15 portfolio is up 5.17% (+4.55% at 12 noon) and the Instanex FII Index is up 5.09% at 266.25 (+4.58 at 12 noon). Sensex is up 5.31% (+4.

  • European markets trading firm; CAC, DAX up

    4th May, 2009 12:49

    At 12:46 pm (IST), European markets were trading firm. CAC 40 rose 0.44% or 14.05 points at 3,173.90. DAX added 0.89% or 42.38 points at 4,811.83.

  • CESC Q4 net profit at Rs 94 cr

    4th May, 2009 12:44

    CESC has announced its fourth quarter and FY09 results. The company's Q4 revenue at Rs 741 crore versus Rs 638 crore.

  • HDFC Bank makes smart gain

    4th May, 2009 12:36

    HDFC Bank touched an intraday high of Rs 1,178.20 and an intraday low of Rs 1,119. At 12:32 pm, the share was quoting at Rs 1,167.35, up Rs 66.65, or 6.06%. It was

  • SENSEX HITS 12,000 MARK

    4th May, 2009 12:25

    At 12:23 hours IST, the 30-share BSE Sensex touched the 12,000 mark for the first since October 7, 2008. Metal, realty, technology, banking, capital goods and FMCG

  • ITC up on buying interest

    4th May, 2009 12:23

    ITC touched an intraday high of Rs 202.45 and an intraday low of Rs 190. At 12:19 pm, the share was quoting at Rs 202.45, up Rs 13.35, or 7.06%. It was trading wit

  • Indian GDRs: Mahindra up 9%, Tata Motors down 3.5%

    4th May, 2009 12:09

    Indian GDRs: Mahindra was up 9.07% at $ 10.58, Ranbaxy gained 2.86% at $ 3.60 and Gail gained 2.91% at $ 31.80, while Tata Motors declined 3.50% at 

  • Kolhapur to host international film fest

    4th May, 2009 12:05

    Kolhapur in Maharashtra will host its first international film festival from June 3–9, 2009 at the Shahuji Smarak auditorium. The weeklong festival will be held jo

  • Instanex FII Index outperforms other Asian indices

    4th May, 2009 12:01

    Outperforming other Asian markets, India’s Instanex FII Index is up 4.58% at 264.96 (+4.75% at 11 am) and the Instanex DII 15 portfolio is up 4.55% (+4.51% at 11 a

  • Hold Educomp Solutions: Bhambwani 

    4th May, 2009 11:58

    Technical Analyst, Vijay Bhambwani is of the view that one can hold Educomp Solutions with a stoploss at Rs 2150. As long as it remains above the Rs 2150 levels on

  • Wipro moves up smartly

    4th May, 2009 11:54

    Wipro touched an intraday high of Rs 357.95 and an intraday low of Rs 333.15. At 11:50 am, the share was quoting at Rs 352.20, up Rs 21.70, or 6.57%. It was tradin

  • See slow uptrend in steel prices in next 3-6 mths: JJ Irani 

    4th May, 2009 11:48

    JJ Irani, Director, Tata Sons doesn't see any scope for steel prices to fall further globally, nor does he see a further fall in local steel prices. He feels India

  • Maytas approves draft debt restructuring package; stk up

    4th May, 2009 11:41

    Maytas Infra has touched an intraday high of Rs 39 and an intraday low of Rs 37.55. At 11:37 am, the share was quoting at Rs 37.90, up Rs 0.65, or 1.74%. The compa

  • Unitech flares up 7.5%

    4th May, 2009 11:37

    Unitech touched an intraday high of Rs 47.80 and an intraday low of Rs 45.95. At 11:33 am, the share was quoting at Rs 47.40, up Rs 3.30, or 7.48%. It was trading

  • Dhanus Tech locked at 5% upper circuit

    4th May, 2009 11:26

    At 11:22 am, Dhanus Technologies was locked at 5% upper circuit. It touched an intraday high of Rs 21.95 and an intraday low of Rs 21. The share was quoting at Rs

  • Nifty has resistance at 3605–3612: Mitesh Thacker

    4th May, 2009 11:24

    According to Mitesh Thacker's report, the Nifty has support at 3385 / 3310 – 3290 / 3150 – 3120 and resistance at 3505 – 3525 / 3605 – 3612 / 3750 / 3820.

  • Instanex FII Index up 4.75%

    4th May, 2009 11:19

    At 11 am, the Instanex FII Index is up 4.75% at 265.39 (+4.60% at 10 am) and the Instanex DII 15 portfolio is up 4.51% (+4.22% at 10 am). Sensex is up 4.75% (+4.33

  • Hindalco among major gainers

    4th May, 2009 11:12

    At 11:08 am, Hindalco Industries was among the major gainers on the Sensex. It touched an intraday high of Rs 58.75 and an intraday low of Rs 55.85. The share was

  • Buy Jeera May around Rs 12100-12000: Bonanza

    4th May, 2009 11:05

    Bonanza has recommended to buy Jeera May at around Rs 12100-12000 with stoploss below Rs 11810 and target of Rs 12300-12460-12600.

  • Lotte India buy back to open today; stk hits 52-week high

    4th May, 2009 10:58

    Lotte India Corporation touched a 52-week high of Rs 515. At 10:51 am, the share was quoting at Rs 500, up Rs 5.75, or 1.16%. The company's buy back is going to op

  • ABB top loser on the Nifty

    4th May, 2009 10:55

    At 10:57 am, ABB was the top loser on the Nifty. It touched an intraday high of Rs 494.90 and an intraday low of Rs 468.30. The share was quoting at Rs 470.75, dow

  • Buy USD May around 50.10-50.20: Bonanza

    4th May, 2009 10:44

    Bonanza has recommended to buy US Dollar at around 50.10-50.20 with stoploss below 49.70 and target of Rs 50.40-50.60-50.75.

  • Era Infra Engg continues to rise

    4th May, 2009 10:36

    Era Infra Engg has continued to rise. It touched an intraday high of Rs 83.70 and an intraday low of Rs 79.55. At 10:32 am, the share was quoting at Rs 80.65, up R

  • PNB cuts PLR to 11%; stk advances

    4th May, 2009 10:32

    PNB touched an intraday high of Rs 505 and an intraday low of Rs 485.50. At 10:28 am, the share was quoting at Rs 489.80, up Rs 11.70, or 2.45%. The bank has cut P

  • Sweet gains in Balrampur Chini

    4th May, 2009 10:30

    Balrampur Chini Mills touched an intraday high of Rs 74.35 and an intraday low of Rs 71.40. At 10:26 am, the share was quoting at Rs 73.50, up Rs 3.70, or 5.30%. I

  • Sterlite Ind maintains its march ahead

    4th May, 2009 10:24

    Sterlite Industries touched an intraday high of Rs 450.15 and an intraday low of Rs 417.25. At 10:20 am, the share was quoting at Rs 447.30, up Rs 38.25, or 9.35%.

  • Ranbaxy recalls Nitrofurantoin capsules from US; stk rises

    4th May, 2009 10:15

    Ranbaxy Laboratories touched an intraday high of Rs 171.10 and an intraday low of Rs 167.60. At 10:11 am, the share was quoting at Rs 168.60, up Rs 2.65, or 1.60%.

  • Rupee's strength to remain intact: IndusInd Bank

    4th May, 2009 10:14

    According to Mr. J. Moses Harding, Head Global Markets Group, IndusInd Bank, today, 3 day bunched up nostro supplies should keep the market in supply mode. Sensex

  • HDFC top gainer on the Nifty

    4th May, 2009 10:10

    At 10:12 am, HDFC was the top gainer on the Nifty. It touched an intraday high of Rs 1,948 and an intraday low of Rs 1,761.25. The share was quoting at Rs 1,878.05

  • Siemens bags Rs 1380cr order from Adani Power; stk up

    4th May, 2009 10:01

    Siemens touched an intraday high of Rs 339.90 and an intraday low of Rs 315. At 10:03 am, the share was quoting at Rs 334, up Rs 25.90, or 8.41% on the NSE. The co

  • Nifty hits 3600 for 1st time since Oct 14, 2008

    4th May, 2009 09:59

    Positive Asian cues lifted the benchmark indices strongly higher. Buying was seen in metal, banking, capital goods, oil & gas and power stocks. The Nifty tested th

  • Stay away from sugar stocks: Sukhani 

    4th May, 2009 09:54

    Technical Analyst, Sudarshan Sukhani is of the view that one should stay away from sugar stocks.

  • Nifty faces resistance at 3499-3532: India Capital Mkts

    4th May, 2009 09:52

    According to India Capital Markets' Technical Analysis report, Nifty has a support at 3441 & 3412 and faces resistance at 3499 & 3532. Nifty above 3516 will set a

  • Core Projects Q4 standalone net profit was at Rs 24.37cr

    4th May, 2009 09:48

    Core Projects has announced its fourth quarter results. It Q4 standalone net profit was at Rs 24.37 crore versus Rs 16.51 crore, QoQ.

  • Religare Securities advises caution in near-term 

    4th May, 2009 09:47

    Amitabh Chakraborty of Religare Securities is cautious about the near-term given the uncertainty of the election results and the increase in risk premium due to ge

  • Nifty may move towards 3650-3700, if 3517 breaks: FinQuest

    4th May, 2009 09:43

    According to FinQuest Securities' report, a breach of Doji high at 3517 would lead to Nifty moving up towards 3650- 3700 levels.

  • Markets likely to open on strong note: Karvy

    4th May, 2009 09:34

    According to Karvy Stock Broking's Technical Analysis report, Domestic markets are likely to open on strong note following the strong moves among the global indice

  • US banks need to see more write-downs: BlackRock 

    4th May, 2009 09:24

    Robert Doll, Vice-Chairman and Global CIO-Equity, BlackRock, said the US markets won't test new lows. US banks, he feels, needs to see more write-offs. "Banks will

  • US markets end higher 

    4th May, 2009 09:07

    A late day bounce at the close helped a market that had been flat until the final hour of the trading day. An increase in consumer sentiment helped off set another

  • Rupee likely to open stronger today: Standard Chartered

    4th May, 2009 08:55

    According to Agam Gupta, Standard Chartered Bank, the rupee is likely to open stronger today due to dollar weakness against major currencies. Risk appetite returni

  • Nifty may breach 3520: Siddharth Bhamre

    4th May, 2009 08:54

    Siddharth Bhamre of Angel Broking expects a gap up opening, which may be followed by a breakout as Nifty looks set to breach the resistance level of 3,520.

  • Rally to continue till disbelief sets in: Emkay Global 

    4th May, 2009 08:47

    Krishna Kumar Karwa, MD, Emkay Global Financial Services, feels the rally will continue until there is disbelief in the rally. According to him, retail participat

  • RCom told to clarify on GSM service launch in J&K

    4th May, 2009 08:35

    The Department of Telecom has sought clarification from Reliance Communications as to why the company has started its GSM based mobile services in Jammu and Kashmi

  • Fund Action witnessed in Unitech, Balaji Tele

    4th May, 2009 08:30

    Fund Action witnessed in Unitech, Balaji Tele, Educomp, Escorts and Gateway Distriparks.

  • F&O cues: Market-wide rollover at 76%

    4th May, 2009 08:25

    F&O cues: Market-wide rollover at 76% versus 77% last series. Nifty Rollover at 74% versus 70% last series.

  • Crude at $53.33/bbl

    4th May, 2009 08:23

    Commodities rebound, crude rose to a five-week high, base metals too show strong gains. Crude is currently trading at USD 53.33 per barrel, down 0.13 per barrel at

  • US mkts gain 2.5% in last 3-day

    4th May, 2009 08:22

    The US markets gained on the back of incremental positive economic data, crude & base metals rally and Asian currencies rally. The US markets had gained nearly 2.5

  • Amara Raja Electronics invests Rs 35 cr in expansion

    4th May, 2009 08:18

    Amara Raja Electronics — the instant power source division of the Rs 1,080-crore Amara Raja Batteries Ltd, is investing Rs 35 crore to expand its facility.

  • Pepper futures close higher on volatility

    4th May, 2009 08:14

    The pepper futures market after witnessing high volatility during the week closed marginally higher at the weekend close.

  • Nifty likely in range of 3365-3565: Bhambwani

    4th May, 2009 07:44

    The coming session is likely to witness a range of 3565 on advances and 3365 on declines. The bullish pivot will be at the 3440 levels above which the outlook will

  • Godrej Consumer Q4 cons net profit up at Rs 59.36 cr

    4th May, 2009 07:32

    Godrej Consumer has declared its Q4FY09 numbers. Its consolidated net profit increased to Rs 59.36 crore from Rs 40.82 crore, YoY.

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