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Moneycontrol News Archive : 8 May, 2009

  • Seeing double-digit growth across portfolio: LG 

    8th May, 2009 21:01

    V Ramachandran, Director – Marketing & Sales, LG Electronics India said this year for LG right through has been quite strong and particularly the summer has been

  • Radio controlled cars: Tech toys for grown-up boys 

    8th May, 2009 19:59

    Think you are too old to be playing with toy cars? Wait till you see what we have for you. The ultimate toys for grown up boys. Radio controlled cars.

  • HUL Mar qtr PAT seen up 17% at Rs 445 cr

    8th May, 2009 19:48

    Hindustan Unilever is to announce its fifth quarter results. The company’s Q5 net sales is seen up 12.62% at Rs 4272.7 crore versus Rs 3793.94 crore.

  • US markets open higher; Dow up 99 points

    8th May, 2009 19:12

    At 19.05 hrs (IST)- The US markets opened higher. The Dow Jones Industrial Average was up 99.25 points, or 1.18%, to 8,509.10. The Nasdaq was up 13.03 points, or 0

  • Sell Elecon Engineering, target of Rs 31: Emkay

    8th May, 2009 18:34

    Emkay Global Financial Services has downgraded its rating on Elecon Engineering Company from reduce to sell with target price of Rs 31. Elecon Engineering reported

  • Buy Great Offshore, target of Rs 435: Emkay

    8th May, 2009 18:21

    Emkay Global Financial Services has maintained its buy rating on Great Offshore with a price target of Rs 435. In a significant development, Bharati shipyard has b

  • Accumulate Union Bank, target of Rs 170: Emkay

    8th May, 2009 17:58

    Emkay Global Financial Services has downgraded its rating on Union Bank of India to accumulate from buy with a price target of Rs 170. Union Bank of India’s report

  • Markets end on a weak note: Nirmal Bang

    8th May, 2009 17:47

    According to Nirmal Bang's report, the benchmark index ended on a weak note sliding 241 points to 11,876, it touched an intra-day high of 12,180 points. The Nifty

  • Sell Bharati Shipyard, target of Rs 79: Emkay

    8th May, 2009 17:35

    Emkay Global Financial Services has maintained its sell rating on Bharati Shipyard with a target price of Rs 79. Bharati Shipyard (BSL) has acquired 14.9% shares @

  • Rupee has support at 48.90-49/$: Commtrendz Research

    8th May, 2009 17:22

    According to Commtrendz Research's report on Indian Rupee, immediate supports are at 48.90-49 followed by 48.50-48.60. Immediate resistance falls around 49.60-49.7

  • See crude in $54-61/bbl range: Shamik Bhose 

    8th May, 2009 17:00

    Shamik Bhose, Advisor – Commodity Markets, Microsec Commerze said USD 61-62 per barrel could be seen as a target for crude if it holds USD 55 per barrel on a daily

  • Hold Phillips Carbon, target of Rs 66: Nirmal Bang

    8th May, 2009 16:56

    Nirmal Bang has recommended a hold rating on Phillips Carbon Black with a price target of Rs 66. Phillips Carbon Black reported total sales of Rs 262.03 crore in Q

  • Sell Shoppers Stop, target of Rs 105: KRChoksey

    8th May, 2009 16:42

    KRChoksey has recommended a sell rating on Shoppers Stop with a target price of Rs 105. Shoppers Stop (SSL) sales grew by 14.4% y-o-y to Rs 330.8 crore despite dec

  • Skindia GDR Index down 1.71% to 1585.43

    8th May, 2009 16:35

    The Skindia GDR Index was down 1.71% to 1585.43 at 3:30 pm IST over the previous day’s 3:30 pm IST Index. The Top DR losers were: Mahindra (-34.58%) and ICICI Bank

  • Buy Shree Cements, target of Rs 995: SKP Securities

    8th May, 2009 16:26

    SKP Securities has maintained its buy rating on Shree Cements with a price target of Rs 995. Shree Cements net sales up 22.19% for Q4FY09 at Rs 811.64 crores. PAT

  • Sell IVRCL Infrastructure, target of Rs 142: PINC Research

    8th May, 2009 16:15

    PINC Research has recommended a sell rating on IVRCL Infrastructure and Projects with a price target of Rs 142. IVRCL's order book as of March '09 stands at Rs 135

  • Ispat sheds 43 lakh shares in open interest 

    8th May, 2009 16:09

    The total market turnover today was about Rs 55,500 crore. Ispat Industries shed about 43 lakh shares in open interest (OI). Hindalco shed about 23 lakh shares in

  • Reduce JSW Steel, target of Rs 356: IIFL

    8th May, 2009 16:00

    IIFL has maintained its reduce rating on JSW Steel with a target of Rs 356. JSW Steel’s 4QFY09 standalone profit of Rs 492 million was boosted by: 1) sale of carbo

  • Gateway Distriparks a marketperformer: Karvy

    8th May, 2009 15:47

    Karvy Stock Broking has maintained its marketperformer rating on Gateway Distriparks with a price target of Rs 84. Gateway Distriparks (standalone) reported the re

  • Re steadiness may stabilize PFC's earnings: Kamlesh Kotak 

    8th May, 2009 15:35

    Kamlesh Kotak, VP-Research, Asian Markets Securities said Power Finance Corporation has posted 32% bottomline growth for Q4, taking the total yearly growth to 12%

  • Instanex FII index down 2.43%

    8th May, 2009 15:28

    At 2 pm, the Instanex FII Index is down 2.43% at 259.94 and the Instanex DII 15 portfolio is down 2.24%. Sensex is down 2.64% and Nifty is down 2.44%.

  • Sterlite Industries has support at Rs 440: A Jain 

    8th May, 2009 15:23

    Anu Jain of India Infoline is of the view that Sterlite Industries has support at Rs 440.

  • Asian markets ended higher

    8th May, 2009 15:18

    Asian markets ended higher. Hong Kong's Hang Seng gained 1% or 171.98 points at 17,389.87. China's Shanghai Composite advanced 1.09% or 28.198 points at 2,625.645.

  • UCO Bank Q4 net profit up at Rs 102 cr

    8th May, 2009 15:02

    UCO Bank has announced its fourth quarter results. The company's Q4 net profit was up at Rs 102 crore versus Rs 85 crore.

  • Mkts plunge; Wipro, SBI, BHEL, ICICI Bk, Bharti, HDFC drag

    8th May, 2009 14:54

    At 14:50 hours IST - the sell-off in financials, power, auto, realty, telecom, oil & gas exploration, cement and select metal stocks was putting huge pressure on t

  • Obama's Buffalo remark creates ripples in India IT circles

    8th May, 2009 14:39

    In an event on tax reforms, US President Barack Obama on Monday, May 7, called for an overhaul in the US tax system only to ruffle feathers here in India. In a dig

  • See FY10 credit growth at around 22-25%: Andhra Bank 

    8th May, 2009 14:37

    RS Reddy, CMD, Andhra Bank, said corporate and SME credit growth were the key revenue drivers in Q4 FY09. He sees FY10 credit growth at around 22-25%.

  • Provogue witnesses buying interest

    8th May, 2009 14:33

    Provogue touched an intraday high of Rs 41.75 and an intraday low of Rs 34.75. At 2:29 pm, the share was quoting at Rs 37.65, up Rs 2.85, or 8.19%. It was trading

  • UCO Bank minting money

    8th May, 2009 14:17

    UCO Bank touched an intraday high of Rs 33.10 and an intraday low of Rs 31.25. At 2:13 pm, the share was quoting at Rs 32.60, up Rs 1.55, or 4.99%. It was trading

  • Reliance Communications plummets

    8th May, 2009 14:00

    Reliance Communications touched an intraday high of Rs 243.90 and an intraday low of Rs 227.05. At 2:01 pm, the share was quoting at Rs 228, down Rs 11.45, or 4.78

  • Hot rolled steel coil prices may slip to $460/tn: MEPS 

    8th May, 2009 13:57

    Peter Fish, MD, MEPS (International) is of the opinion the markets for hot and cold rolled steel, they are pretty flat in most parts of the world, except India and

  • Andhra Bank Q4 net profit up at Rs 201 cr 

    8th May, 2009 13:56

    Andhra Bank has announced its FY09 results. The company's FY09 net profit was at Rs 646 crore.

  • GE Shipping declares results; stk down 4.5%

    8th May, 2009 13:54

    GE Shipping touched an intraday high of Rs 251 and an intraday low of Rs 225.25. At 1:50 pm the share was quoting at Rs 230, down Rs 10.85, or 4.5%. The company's

  • Nifty tests 3600; metals, banks, realty plunge

    8th May, 2009 13:43

    At 13.43 hrs IST, the markets were trading weak as metal, bank, realty, IT, power, capital goods, auto and oil & gas stocks were witnessing selling pressure. Stock

  • Expect upside in Tata Steel: Tulsian 

    8th May, 2009 13:12

    Investment Advisor SP Tulsian is of the view that one can expect better appreciation in Tata Steel from hereon.

  • European markets trading higher

    8th May, 2009 12:55

    At 12:51 pm (IS), European markets were trading higher. CAC 40 was up 1.42% or 46.25 points at 3,297.77. DAX rose 1.05% or 50.38 points at 4,854.48. FTSE 100 gaine

  • See metal stocks return to fair value post 80-100% rally 

    8th May, 2009 12:44

    Its not easy to answer at this point in time, why the metals sector has seen a lot of gains in the last few weeks because stock prices are not where they used to b

  • Instanex FII index down 0.45%

    8th May, 2009 12:40

    At 12 noon, the Instanex FII Index is down 0.45% at 265.21 and the Instanex DII 15 portfolio is down 0.20% and Sensex is down 0.46% and Nifty is down 0.37%.

  • Hindalco Industries trips on selling pressure

    8th May, 2009 12:31

    Hindalco Industries touched an intraday high of Rs 71.60 and an intraday low of Rs 66.65. At 12:28 pm, the share was quoting at Rs 66.65, down Rs 3.55, or 5.06%. I

  • ABG Shipyard up on huge volumes

    8th May, 2009 12:21

    ABG Shipyard was trading with volumes of 1,290,121 shares. It touched an intraday high of Rs 156.75 and an intraday low of Rs 134. At 12:18 pm, the share was quoti

  • Pyramid Saimira locked at 10% upper circuit

    8th May, 2009 12:19

    At 12:15 pm, Pyramid Saimira Theatre was locked at 10% upper circuit. It touched an intraday high of Rs 18.73 and an intraday low of Rs 17.90. The share was quotin

  • Jubilant Organosys gains further ground

    8th May, 2009 12:12

    Jubilant Organosys has continued to gain. It touched an intraday high of Rs 149.80 and an intraday low of Rs 140.05. At 12:08 pm, the share was quoting at Rs 147.7

  • Mkts lacklustre; midcaps, smallcaps outperform

    8th May, 2009 12:01

    At 11:56 hours IST, the benchmark indices were quiet, as both the indices were moving just around their previous closing values and there were no significant moves

  • Essar Shipping gains 6.4%

    8th May, 2009 11:56

    Essar Shipping Ports & Logistics touched an intraday high of Rs 50.40 and an intraday low of Rs 45.95. At 11:52 am, the share was quoting at Rs 48.70, up Rs 2.95,

  • Valuations expensive post recent rally: Schroder Investment 

    8th May, 2009 11:50

    Allan Conway of Schroder Investment Management said valuations in India are on the expensive side after recent market rally. "It is trading at 13 times price to ea

  • Videocon Industries makes smart gain

    8th May, 2009 11:39

    Videocon Industries touched an intraday high of Rs 127.90 and an intraday low of Rs 115.25. At 11:35 am, the share was quoting at Rs 123.90, up Rs 8.05, or 6.95%.

  • United Spirits plunges 5.2%

    8th May, 2009 11:29

    United Spirits touched an intraday high of Rs 722 and an intraday low of Rs 658. At 11:26 am, the share was quoting at Rs 677, down Rs 37.4, or 5.24%. It was tradi

  • Investment to return to offshore biz in 1yr: Mercator Lines 

    8th May, 2009 11:15

    Kaushik Kuchroo, Senior Vice President, Mercator Lines said the present situation of offshore sector is quite comfortable and he sees investment coming back to the

  • Selectively booking profits in rally: SBI Life Insurance 

    8th May, 2009 11:08

    US Roy, MD and CEO, SBI Life Insurance, said the insurer invested a third more in FY09 compared to FY10. He said the company is selectively booking profits in the

  • Sterlite Industries top loser on the Nifty

    8th May, 2009 11:02

    At 11:03 am, Sterlite Industries was the top loser on the Nifty. It touched an intraday high of Rs 531.70 and an intraday low of Rs 491. The share was quoting at R

  • Sell Jeera May around Rs 12050-12100: Bonanza

    8th May, 2009 11:00

    Bonanza has recommended to sell Jeera May at around Rs 12050-12100 with stoploss above Rs 12278 and target of Rs 11900-11820.

  • Instanex FII Index opens listless

    8th May, 2009 10:52

    At 10 am, the Instanex DII 15 portfolio is up 0.26% and the Instanex FII Index is up 0.09% at 266.65. Nifty is up 0.38% and Sensex is up 0.22%.

  • Uttam Galva continues to gain

    8th May, 2009 10:50

    Uttam Galva Steel touched an intraday high of Rs 39 and an intraday low of Rs 37. At 10:46 am, the share was quoting at Rs 37.80, up Rs 1.45, or 3.99%. It was trad

  • Indian GDRs: Sterlite up 3.3%, ICICI Bank down 4.7%

    8th May, 2009 10:38

    Indian GDRs: Sterlite, Dr Reddys and Gail gained, while ICICI Bank, Grasim, ITC, Infosys, SBI and Tata Motors slipped.

  • Monnet Ispat can test Rs 260-265: Gujral 

    8th May, 2009 10:35

    Technical Analyst, Ashwani Gujral is of the view that Monnet Ispat can test Rs 260-265.

  • Rally to sustain unless elections disappoint: Kotak Inst Eq 

    8th May, 2009 10:30

    Sanjeev Prasad, ED and Company Head, Kotak Institutional Equities, is surprised by the extent of rally and said he would be comfortable when the Sensex is at 11,00

  • Power Grid top gainer on the Nifty

    8th May, 2009 10:28

    At 10:30 am, Power Grid Corporation of India was the top gainer on the Nifty. It touched an intraday high of Rs 100.75 and an intraday low of Rs 96.55. The share w

  • Suzlon Energy has target of Rs 100-105: Gujral 

    8th May, 2009 10:20

    Technical Analyst, Ashwani Gujral is of the view that Suzlon Energy has target of Rs 100-105.

  • Sun TV FM radio arm get FIPB nod; stk up

    8th May, 2009 10:12

    Sun TV Network touched an intraday high of Rs 241 and an intraday low of Rs 223. At 10:08 am, the share was quoting at Rs 234.25, up Rs 14.70, or 6.70%. The compan

  • Only buyers in Indiabulls Financial; stk up 5%

    8th May, 2009 10:05

    At 10:06 am, Indiabulls Financial Services was locked at 5% upper circuit. It touched an intraday high of Rs 137.55 and an intraday low of Rs 137.55. The share was

  • Crude may trade between US$ 53-50 /bbl: Ajay Jain

    8th May, 2009 10:00

    According to Lt Col Ajay CEO www.astromoneyguru.com as per financial astrology Today 8th day of May 2009 is represented by planet known as Saturn. Year 2009 is re

  • See Nifty moving to 3750-3820: Ashwani Gujral 

    8th May, 2009 09:58

    Technical Analyst Ashwani Gujral expects the market to move higher towards 3750-3820. He said markets would get to a point where there would be a big blow-off rall

  • Sensex has support at 11900-11730: ICICIdirect.com

    8th May, 2009 09:55

    According to ICICIdirect.com's report, the Sensex has supports at 11900 and 11730 and resistances at 12270 and 12550. The Nifty has supports at 3640 and 3600 and r

  • See rupee in a tight range of 49-49.30: IndusInd Bank

    8th May, 2009 09:50

    According to Mr. J. Moses Harding, Head Global Markets Group, IndusInd Bank, for today, would look for gains in Sensex to be limited to 12200 for side-ways trading

  • Nifty has support at 3615: Nirmal Bang

    8th May, 2009 09:43

    According to Nirmal Bang's report, one should be cautious in building positions as the markets are quite overstretched. This intermediate trend will be under threa

  • US markets end lower 

    8th May, 2009 09:42

    Stocks taking a hit on Wall Street, the Dow down 102 points, the Nasdaq slipping by 43 and the S&P 500 loosing 12 points.

  • Great Offshore a great property 

    8th May, 2009 09:33

    Great Offshore is a great property. It’s a good business. The balance-sheet is not leveraged as Aban. It’s not very expensive, trades at 4 PE and has got an excell

  • DRL arm Betapharm bags five contracts from A-O-K 

    8th May, 2009 09:31

    Indian drug maker Dr Reddy's German subsidiary Betapharm has received five contracts for bulk supply of drugs to German insurer A-O-K. These are five of the eight

  • Sensex has support at 3600: Angel

    8th May, 2009 09:28

    According to Angel Broking's Technical Analysis report, on the downside, 11900 / 3600 levels may act as support for the short term.

  • Nifty may trade between 3600-3800: Karvy

    8th May, 2009 09:21

    According to Karvy Stock Broking's Technical Analysis report, the Nifty may trade between 3600-3800 levels for the day.

  • Global mkts calm post stress test result 

    8th May, 2009 09:15

    There has been no great damage across global markets because of the bank stress test. Equity markets are not stressed this morning. Today is the last trading sessi

  • DLF stands to get re-rated if promoters sell stake 

    8th May, 2009 09:10

    Sources said that DLF promoters are looking to offload stake and looking to raise $400-700 million and stake sale proceeds to be ploughed into DAL. If this hap

  • 10-year yield seen between 6.25-6.30%: Sundaram BNP Paribas

    8th May, 2009 09:02

    According to K Ramkumar, Sundaram BNP Paribas, the bond market is expected to move on the back of the auction today. The liquidity situation is comfortable. The ra

  • Reliance Life sees 14% rise in loss in FY09 vs FY08 

    8th May, 2009 09:00

    Reliance Life's high gear expansion has come to a halt. While the company has jumped on the ranking charts, expansion plans are now frozen. However, there has been

  • Rupee may trade in a narrow range: Pinnacle Forex

    8th May, 2009 09:00

    According to N Subramaniam, Pinnacle Forex, the rupee will continue to be in a narrow range. However, on back of the stress test results, profitbooking is likely t

  • Support for Nifty seen at 3600: Karun Mutha

    8th May, 2009 08:57

    Call writing has been seen around 3800 and this may act as a level for profit booking. Support is seen at 3600. Volatility continues to be high, Karun Mutha said.

  • ONGC may exit Rajasthan block over royalty issue

    8th May, 2009 08:48

    ONGC has written to the Petroleum Ministry seeking reimbursement of royalty that it has to pay on behalf of Cairn India Ltd in the prolific Rajasthan block.

  • Bongaigaon refinery to get Cairn crude from KG basin

    8th May, 2009 08:44

    Cairn India Ltd, subsidiary of Cairn Energy, is despatching its production from the Ravva offshore oil field in the Krishna-Godavari basin to the Bongaigaon Refine

  • F&O cues: Futures Open Int up by Rs 418 cr

    8th May, 2009 08:36

    F&O cues: Futures Open Int up by Rs 418 crore, Options Open Int up by Rs 1948 crore. Stock Futures add 3.4 cr shares in Open Int.

  • Lower demand keeps molasses prices under check

    8th May, 2009 08:34

    The crisis in sugar has not spilt over to alcohol, with liquor companies managing to source rectified spirit and molasses at virtually last year’s rates, if not lo

  • Support for Nifty at 3600: Gaba

    8th May, 2009 08:23

    The support for the Sensex is 12000 and the resistance to the up move is at 12569-12857. The support for the Nifty is at 3600 and the resistance to the up move is

  • FIIs net buy Rs 383.3 cr in equities on May 7 (prov) 

    8th May, 2009 08:19

    FIIs were net buyers to the tune of Rs 383.3 crore and DIIs net bought Rs 42.4 crore in the cash market on May 7 (provisional figures).

  • Ten US banks need to raise $74.6 bn in capital

    8th May, 2009 08:08

    US regulators said 10 of the top 19 banks will need to raise a total of USD 74.6 billion in capital over the next six months. The USD 74.6 billion amount was small

  • Expect flat to negative opening: Gujral

    8th May, 2009 08:02

    The markets may have flat to negative opening today. Nifty has supports at 3550-3600 and resistances are at 3730-3780.

  • NAVs surge higher as markets end strong

    8th May, 2009 01:58

    Equity diversified NAVs surged and their advance:decline ratio stood at 234:1. The benchmark indices closed on a strong note ahead of US banks' stress test results

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