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Moneycontrol News Archive : 29 September, 2009

  • FIIs net buy Rs 3,311.90 cr in equities on Sept 25

    29th September, 2009 20:59

    Foreign institutional investors (FIIs) were net buyers to the tune of Rs 3,311.90 crore in equities on September 25, 2009. They made gross purchase of Rs 5,440.30

  • Experts don't see mkts going down; advise sectors to be in 

    29th September, 2009 19:10

    Markets have kicked off the truncated week on a steady note, with a quiet positive session on dalal street as the markets settled into consolidation mode. The Nift

  • Rupee has resistance at 48.40-48.50/$: Commtrendz Research

    29th September, 2009 18:49

    Commtrendz Research has come out with its report on rupee. According to the report, rupee has immediate supports at 47.70/47.60 followed by 47.30/47.20. Immediate

  • L&T's electronics biz on growth path 

    29th September, 2009 18:37

    It may be a small part of L&T's business universe, but its electrical and electronics business has been on the growth path for the last five years. CNBC-TV18’s Kat

  • L&T Finance signs MoU with DBS Cholamandalam AMC

    29th September, 2009 18:31

    L&T Finance Enters into MoU for Purchase of 100% Stake of DBS Cholamandalam Asset Management

  • Why exactly are Air India pilots striking? 

    29th September, 2009 18:13

    As the standoff between executive pilots and the management of Air India extends to a fourth-day without any sign of resolution—CNBC-TV18 asks Captain VK Bhalla an

  • Rupee, bonds end lower

    29th September, 2009 17:51

    Rupee ended lower against the US dollar as banks bought the greenback to meet demand from importers and as the US unit gained against major currencies. But, banks

  • Buy IDBI Bank with a target of Rs 150: Gujral 

    29th September, 2009 17:25

    Buy IDBI Bank with a target of Rs 150, says Technical Analyst, Ashwani Gujral.

  • Buy Orchid Chemicals with target of Rs 210: Gujral 

    29th September, 2009 17:19

    Buy Orchid Chemicals and Pharmaceuticals with target of Rs 210, says Technical Analyst, Ashwani Gujral.

  • Ranbaxy Lab can touch Rs 455-460: Gujral 

    29th September, 2009 17:14

    Ranbaxy Laboratories can touch Rs 455-460, says Technical Analyst, Ashwani Gujral.

  • Enter in PSU banking on corrections: Gujral 

    29th September, 2009 17:07

    On corrections, PSU banking are good opportunities to enter in, says Technical Analyst, Ashwani Gujral.

  • Crude may find support at USD 65/bbl 

    29th September, 2009 17:00

    Crude prices were trading below USD 67 per barrel. Markets feel that USD 65 per barrel if that holds than the markets might see some support coming in otherwise US

  • How to maintain the perfect promoter professional balance? 

    29th September, 2009 16:55

    A rose by any other name smells just as sweet even if its part of an affiliated florist business model, we have the story of Lakshmi Lobo this week and Spring Blos

  • Put-call ratio declines to 1.22 

    29th September, 2009 16:54

    Today’s F&O action was quite interesting. The put call ratio fell a bit despite the markets actually inching up. The put call ratio fell to 1.22 that is because of

  • Skindia GDR Index down 0.16%

    29th September, 2009 16:50

    The Skindia GDR Index was down 0.16% to 2,445.28 at 3:30 pm IST today while the Nifty was up 0.97%.

  • Govt to borrow Rs 1.23 lakh cr in Oct-Mar programme

    29th September, 2009 16:46

    The government would borrow Rs 1.23 lakh crore (excluding desequester) and would desequester Rs 5,000 crore market stabilisation scheme (MSS) bonds in October-Marc

  • Philips sees India as an export hub to expand footprint 

    29th September, 2009 16:30

    Electronics major Philips is looking at building its Indian operations to an export hub, even as it looks at leveraging global technology and acquisitions for new

  • Have Rs 100cr orderbook currently: Zicom Security Sys 

    29th September, 2009 16:16

    Zicom Electronic Security Systems' orderbook is very robust in the range of Rs 90-100 crore, said its chairman Manohar Bidaye. "We are quite hopeful of building a

  • Oil India to list on Sep 30; experts see meager gains

    29th September, 2009 16:00

    Oil India (OIL) will list on the exchanges on September 30, 2009, Wednesday. It has fixed its issue price at Rs 1,050/share. See what experts say.

  • Nifty ends above 5000; IT, pharma, oil & gas gain

    29th September, 2009 15:33

    The Nifty closed above its psychological 5000 mark. Strong buying was seen in IT, pharma, oil &gas, banks, power, capital goods and metal stocks. Reliance, Infosys

  • TVS Motor forges ahead

    29th September, 2009 15:28

    TVS Motor Company touched an intraday high of Rs 62 and an intraday low of Rs 58.70. At 3:24 pm, the share was quoting at Rs 61.40, up Rs 3.55, or 6.14%. It was tr

  • Basmati rice prod remains unaffected by drought: Kohinoor 

    29th September, 2009 15:21

    Satnam Arora of Kohinoor Foods says that drought had no affect on basmati rice production. “85% of Kohinoor revenue comes from rice exports.”

  • GTL Infrastructure up on huge volumes

    29th September, 2009 15:13

    GTL Infrastructure touched an intraday high of Rs 43.40 and an intraday low of Rs 41.35. At 3:12 pm, the share was quoting at Rs 43.05, up Rs 1.70, or 4.11%. It wa

  • Sahara Prime City to raise Rs 3000cr via IPO 

    29th September, 2009 15:13

    Sahara Prime City has filed a draft red herring prospectus (DRHP) for an initial public offer (IPO) with the Securities and Exchange Board of India (SEBI), reports

  • MRPL witnesses buying interest

    29th September, 2009 15:05

    MRPL touched an intraday high of Rs 93.15 and an intraday low of Rs 86.55. At 3:01 pm, the share was quoting at Rs 93, up Rs 6.75, or 7.83%. It was trading with vo

  • How Reva plans to get onto the growth highway 

    29th September, 2009 15:04

    Bangalore-based electric carmaker Reva's plans have got a shot in the arm with its latest alliance with auto giant General Motors. CNBC-TV18’s Sumantra Barooah rep

  • Cipla among major gainers

    29th September, 2009 14:55

    At 2:51 pm, Cipla was among the major gainers on the Nifty. It touched an intraday high of Rs 277.45 and an intraday low of Rs 268. The share was quoting at Rs 276

  • IDBI Bank can touch Rs 170: Shrikant Chouhan 

    29th September, 2009 14:45

    IDBI Bank can touch Rs 170 in six to eight months, says Shrikant Chouhan, Technical Analyst, Kotak Securities. The stock has very good support around Rs 118-120 le

  • Copper declines 8% in Sept 

    29th September, 2009 14:43

    Copper saw a decline of 8% in the month of September. Nickel declined nearly 10-12% in the month of September. The only gainers this month were lead and tin.

  • Gati has target of Rs 100: Shrikant Chouhan 

    29th September, 2009 14:40

    Gati has target of Rs 100, says Shrikant Chouhan, Technical Analyst, Kotak Securities. It can test Rs 80-90 in the near-term. It has support at Rs 57. One can buy

  • Book partial profits in IT stocks: Kapadia 

    29th September, 2009 14:28

    Book partial profits in IT stocks, says Hemen Kapadia, chartpundit.com.

  • GE increases IT budget by 25%: Sources 

    29th September, 2009 14:22

    General Electric (GE) is increasing its IT budget by 25%. GE is known to be one of the toughest negotiators for IT companies. Sources say it is looking to extend c

  • World Bank's infra funding step in right direction: HCC

    29th September, 2009 14:18

    Last week there was news in the market about the World Bank funding and quite a few stocks reacted to that. Commenting on the impact of funding on Hindustan Con

  • Book partial profits in Sesa Goa: H Kapadia 

    29th September, 2009 14:09

    Book partial profits in Sesa Goa, says Hemen Kapadia, chartpundit.com.

  • Tata Power scouting for coal assets overseas, stk gains

    29th September, 2009 14:00

    Tata Power is scouting for coal assets overseas, reports CNBC-TV18. It has touched an intraday high of Rs 1,302.70 and an intraday low of Rs 1,278. At 14:02 pm, th

  • Kolte-Patil Developers up on buying interest

    29th September, 2009 13:51

    Kolte-Patil Developers touched an intraday high of Rs 57.30 and an intraday low of Rs 53. At 1:46 pm, the share was quoting at Rs 55.75, up Rs 3.65, or 7.01%. It w

  • SpiceJet soars high

    29th September, 2009 13:30

    SpiceJet touched an intraday high of Rs 37.35 and an intraday low of Rs 33.50. At 1:27 pm, the share was quoting at Rs 35.85, up Rs 2.75, or 8.31%. It was trading

  • Glenmark Pharma in good health

    29th September, 2009 13:25

    Glenmark has touched an intraday high of Rs 238.40 and an intraday low of Rs 228.70. At 1:22 pm, the share was quoting at Rs 237.70, up Rs 10.30, or 4.53%.

  • Instanex FII Index up 1.17%

    29th September, 2009 13:01

    At 12 noon, the Instanex FII Index was up 1.17% at 354.94 (+1.24% at 11 am) and the Instanex DII 15 portfolio was up 0.76%. Sensex was up 1.02% and Nifty was up 0.

  • Tata Teleservices moves up

    29th September, 2009 12:55

    Tata Teleservice is going to seek shareholder nod for USD 250 million QIP/GDR/ADR issue, reports CNBC-TV18. It touched an intraday high of Rs 36.35 and an intraday

  • European markets trading lower; CAC, DAX down

    29th September, 2009 12:53

    At 12: 48 pm (IST), European markets were trading lower. CAC 40 was down 0.21% or 7.98 points at 3,817.02. DAX declined 0.20% or 11.44 points at 5,724.87. FTSE 100

  • Block deal strengthens Ambuja Cements

    29th September, 2009 12:27

    Ambuja Cements touched an intraday high of Rs 99.85 and an intraday low of Rs 98.10. At 12:24 pm, the share was quoting at Rs 99.50, up Rs 1.15, or 1.17%. There we

  • Why Religare Mutual Fund is bullish on PSUs 

    29th September, 2009 12:22

    Religare MF is launching a fund focusing on public-sector undertakings (PSUs). In an interview to CNBC-TV18, Religare MF’s Vetri Subramaniam said PSU companies had

  • Religare MF launches PSU Equity Fund

    29th September, 2009 12:13

    Religare Mutual Fund has launched Religare PSU Equity Fund, an open-ended equity scheme, that aims to generate capital appreciation by investing in equity and equi

  • Shree Renuka buys 5% stake in NCDEX, stock rises

    29th September, 2009 12:05

    Shree Renuka Sugars touched an intraday high of Rs 205.90 and an intraday low of Rs 196.30. At 11:59 am, the share was quoting at Rs 197.75, up Rs 2.25, or 1.15%.

  • Arvind touches 52-week high

    29th September, 2009 11:50

    Arvind touched a 52-week high of Rs 40.85. At 11:44 am, the share was quoting at Rs 40.35, up Rs 2.55, or 6.75%. It was trading with volumes of 1,667,181 shares. O

  • Buy Orient Paper, target of Rs 67: Sharekhan

    29th September, 2009 11:50

    Buy Orient Paper and Industries with a target of Rs 67, says Sharekhan's research report.

  • Solvay Pharma touches 52-week high

    29th September, 2009 11:47

    Solvay Pharma India touched a 52-week high of Rs 979. At 11:43 am, the share was quoting at Rs 960.10, up Rs 141.85, or 17.34%. It was trading with volumes of 15,9

  • Abbott acquires pharma biz of Solvay Pharma for $ 6.6bn

    29th September, 2009 11:32

    Abbott has acquired pharma business of Solvay Pharma for USD 6.6 billion, reports CNBC-TV18. it touched a 52-week high of Rs 645.75. At 11:28 am, the share was quo

  • BSNL may launch IPO next year 

    29th September, 2009 11:22

    BSNL may launch initial public offer (IPO) next year and is awaiting government approvals, Kuldeep Goyal said adding that he may see fresh issue/government divestm

  • TCS among major gainers

    29th September, 2009 11:12

    At 11:07 am, Tata Consultancy Services,TCS was among the major gainers on the Sensex. It touched an intraday high of Rs 611.10 and an intraday low of Rs 590. The s

  • Gammon India to raise $200m for fund expansion via QIP 

    29th September, 2009 11:00

    Indian construction company, Gammon India is looking at raising the entire USD 200 million via QIP said the company’s Managing Director, Pervez Umrigar, adding tha

  • Invest in Lupin, says Siddharth Bhamre 

    29th September, 2009 10:57

    Invest in Lupin, says Siddharth Bhamre, Angel Broking.

  • Exit Suzlon Energy on rallies: M Thacker 

    29th September, 2009 10:48

    Exit Suzlon Energy on rallies, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

  • Nifty holds 5000 mark; RIL, Infosys, TCS, ICICI Bank gain

    29th September, 2009 10:43

    At 10.40 hrs IST, the Nifty continued to trade strong and was holding the 5000 mark. The BSE Sensex gained over 200 points and was climbing towards the 16900 level

  • CESC has target of Rs 405: Siddharth Bhamre 

    29th September, 2009 10:36

    CESC has target of Rs 405, says Siddharth Bhamre, Angel Broking.

  • Sun Pharma top gainer on Nifty

    29th September, 2009 10:32

    At 10:29 am, Sun Pharmaceutical Industries was the top gainer on the Nifty. It touched an intraday high of Rs 1,409.50 and an intraday low of Rs 1,310. The share w

  • Orbit Corporation has target Rs 307: Mitesh Thacker 

    29th September, 2009 10:26

    Orbit Corporation has target Rs 307, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

  • CLSA cautious on valuations, says stay on sidelines

    29th September, 2009 10:15

    Russell Napier, Strategist at CLSA, advises caution in the short term but added that the stocks were likely to get cheaper in the long term.

  • Gold has support at Rs 15425/10 gms: Nirmal Bang

    29th September, 2009 10:11

    Gold has support at Rs 15425 per 10 grams, says Nirmal Bang's report.

  • Block deal in Era Infra Engg; stk down 8.3%

    29th September, 2009 10:08

    There was a block deal of 32.7 lakh Era Infra Engineering shares on BSE at Rs 145 per share, reports CNBC-TV18. It touched an intraday high of Rs 156.20 and an int

  • Buy Asahi India Glass: Mitesh Thacker 

    29th September, 2009 10:00

    Buy Asahi India Glass with a stoploss below Rs 59, says Mitesh Thacker, Technical Analyst, miteshthacker.com. It has short-term targets of Rs 74 and Rs 79.

  • Buy Aurobindo Pharma, says Mitesh Thacker 

    29th September, 2009 09:57

    Buy Aurobindo Pharma, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

  • Nifty breaches 5000 mark in early trade

    29th September, 2009 09:54

    At 9:56 am, the Nifty opened with good gains and breached the 5000 mark in the early trade. Strong buying was seen in realty, metal, IT, banks, pharma and power s

  • Stay long if Nifty holds 5000: Karvy

    29th September, 2009 09:50

    Traders are advised to stay long if Nifty holds 5000, says Karvy Stock Broking's Technical Analysis report.

  • ADAG accuses RIL of short-changing govt on gas mktg margins

    29th September, 2009 09:48

    The Anil Dhirubhai Ambani Group (ADAG) has written to the Petroleum Ministry asking it to resolve the issue of marketing margin expeditiously. ADAG said that RIL w

  • Accumulate Educomp at lower levels: astrostocktips

    29th September, 2009 09:42

    Accumulate Educomp & Kingfisher at lower levels, says Satish Gupta of www.astrostocktips.in.

  • Nifty could test 4875-4810: Nirmal Bang

    29th September, 2009 09:39

    For the very intermediate term 4,910-4,900 with be the crucial point to watch out, if this level gets broken with huge volumes then we could even test 4875-4810, s

  • Nifty 4900 Put adds 7.5 lakh shares in OI 

    29th September, 2009 09:34

    FIIs were net sellers to the tune of Rs 359 crore in Nifty Futures and Rs 359 crore in stock futures. Nifty 4900 Put added 7.5 lakh shares in open interest and Nif

  • Abbott Labs to acquire Solvay for $6.6bn; both stocks up 

    29th September, 2009 09:31

    American healthcare major Abbott Laboratories is all set to buy the pharmaceutical business of Belgium-based Solvay Group for USD 6.6 billion. The transaction is e

  • Galaxy-sized loophole in ADR/ GDR rules: Sandeep Parekh

    29th September, 2009 09:28

    I appeared on the Firm on the 25th of September 2009 discussing the 12 year long unfairness in the takeover regulations which gives exemption from a compulsory ten

  • Abbott-Solvay deal positive for us: Dishman Pharma 

    29th September, 2009 09:25

    American healthcare major Abbott Laboratories is all set to buy the pharmaceutical business of Belgium-based Solvay Group for USD 6.6 billion. How does the acquisi

  • Buy Torrent Pharma, target of Rs 390: Emkay Global

    29th September, 2009 09:18

    Buy Torrent Pharmaceuticals with a price target of Rs 390, says Emkay Global Financial Services' report.

  • Contrary to perception, FIIs selling in emerging markets 

    29th September, 2009 09:09

    With the global economy showing signs that the worst may be over, global fund houses are changing their focus. Data compiled over the last two months suggests valu

  • NYMEX Crude Oct contract up 1.2% at $66.84/bbl 

    29th September, 2009 09:09

    The NYMEX Crude October contract was up 1.2% at USD 66.84 per barrel. Gold was off two -week low of USD 984.70 per ounce as dollar rebounded from 8-month lows vers

  • Rupee opens at Rs 48.02 per dollar

    29th September, 2009 09:01

    The Indian rupee opened at Rs 48.02 per dollar versus Rs 47.97 Friday.

  • Add Nagarjuna Construction, target of Rs 160: IIFL

    29th September, 2009 08:56

    IIFL has recommended an add rating on Nagarjuna Construction Company, with 12-month price target of Rs 160.

  • Sensex can go upto 18000: LGT Bank

    29th September, 2009 08:53

    The US markets are ahead of themselves, as they are pricing in a V-shaped recovery. Fundamentals of Asian markets are better, but valuations are no longer cheap. H

  • Sensex has Sep 2010 target of 18800: Nomura Fin

    29th September, 2009 08:51

    We have arrived at a new Sep 2010 Sensex target of 18,800 as we see earlier than expected revival of corporate capex, with ensuing capital flows to drive the rupee

  • US mkts end higher on M&A news; Asian mkts surge 

    29th September, 2009 08:49

    On the global front, US markets ended higher on M&A news and Asian markets opened higher after yesterday's selloff. Crude was up over 1.3%, close to USD 67 per bar

  • 2 US acquisitions in 3 months and Lupin scouts for more

    29th September, 2009 08:46

    With two acquisitions of new drug applications in the US in three months, Lupin’s appetite for more is “far from satiated,” says Mr Nilesh Gupta, Lupin’s Group Pre

  • Coonoor tea prices drop on inadequate demand

    29th September, 2009 08:41

    Prices dropped by Rs 2 a kg at Sale No: 39 of the auctions of Coonoor Tea Trade Association (CTTA) on Friday as demand was inadequate to absorb the huge offer of 1

  • Ganeshaspeaks: Market prediction for Sept 29

    29th September, 2009 08:40

    From opening to 11:47, Ganesha sees Nifty trade below the surface limit. From 11:47 to 14:50, the market sentiments may try to push Nifty upwards.

  • Stocks in news: Bharti, Gammon India, Abbott

    29th September, 2009 08:32

    Bharti | Gammon India | Abbott | Idea | Tata Power | Shree Renuka | Pfizer | Television Eighteen | WWIL | Greycells Entertainment and Sujana Metal are stocks, whi

  • Market cues: FIIs net buy $ 274.9 million

    29th September, 2009 08:26

    Market cues: FIIs net buy USD 274.9 million and MFs net sell Rs 792 crore in equities on September 24.

  • What's up for the week ahead on India Business Week 

    29th September, 2009 08:15

    The South Africa recognises that dual listing may not be possible in the Bharti-MTN deal. Markets lose the momentum this week. The Nifty ends less than half a perc

  • Indian ADRs: Satyam up 6.2%, Tata Comm up 3.7%

    29th September, 2009 08:00

    Indian ADRs ended in green on Monday. In the IT space, Satyam Computers was up 6.26% at $ 6.62, Infosys was up 2.81% at $ 47.95, Wipro was up 3.24% at $

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