Fresh shorts see in Maruti, TCS, Hindalco
Maruti Suzuki was down 2%, with open interest rising by 18%. The stock tumbled nearly 5% from day's high as it saw fresh shorts. CLSA has downgraded Maruti to underperform from outperform and cut target to Rs 1265 from Rs 1430.
CLSA downgrades Maruti to underperform from outperform
CLSA downgraded Maruti Suzuki to underperform from outperform and cut target to Rs 1,265 from Rs 1,430. At 14:54 hours the share was trading at Rs 1,170, down Rs 23.15, or 1.94%.
Jyoti Structures gets new contracts worth Rs 524 crore
Jyoti Structures has won contracts worth Rs 524 crore from various transmission and distribution companies.
Long road ahead: India eyes record road network expansion
The government will award a record 7,300 kms of road building contracts this year worth about USD 12 billion, as a huge privatisation drive makes developers more willing to take on projects and foreign funds eager to invest, a top official at the National Highways Authority of India said.
Sensex weak amid choppy trade; TCS, RIL, ONGC, Infosys dip
Indian equity benchmarks extended sell-off for third consecutive session today, pulled down majorly by oil & gas and technology companies' shares. The 50-share NSE Nifty was inching back closer to 5350 level, reacting to weak global cues.
Jyoti Structures bags order worth Rs 524 crore
Jyoti Structures touched an intraday high of Rs 91.40 and an intraday low of Rs 85.65. At 14:24 hrs the share was quoting at Rs 88.50, up Rs 2.25, or 2.61%.
Nikkei hits 3-month low as Greece worries rattle investors
The Nikkei stock average fell to a three-month low on Friday as investors moved into safer assets with worries over Greece's debt problems compounding jitters that the global economy may be slowly headed for a sustained slowdown.
StanChart hires Saurabh Agrawal from BofA
Standard Chartered has hired a former Bank of America Merrill Lynch investment banker as head of corporate finance for South Asia, two sources with direct knowledge of the matter said on Friday.
CLSA downgrades Ashok Leyland to outperform
Ashok Leyland touched an intraday high of Rs 55.65 and an intraday low of Rs 49.25. At 14:12 hrs the share was quoting at Rs 49.40, down Rs 1.15, or 2.27%.
EU postpones decision on rescue package for Greece
Amid growing political unrest in Greece and escalating protests against the government's austerity measures, the European Union has postponed a decision on a second multi-billion euro rescue package for the debt-ridden nation at least until mid-July.
Rahul's birthday to be celebrated as Kisan Adhikar Diwas
With a view to garner support of the rural masses, Congress is planning to celebrate Rahul Gandhi's birthday by holding a 'chaupal' in every panchyat of the state to hear grievances of farmers on June 19.
Milk price likely to increase
The West Bengal Cooperative Milk Producers Federation (WBCMP), which recommends the retail price of milk, has submitted a suggestion for a hike to protect the interest of the government dairies.
SEC could file civil fraud charges against some raters
US regulators could file civil fraud charges against some credit-rating agencies for their role in developing mortgage-bond deals that helped bring about the financial crisis, the Wall Street Journal reported, citing people familiar with the matter.
Motilal Oswal neutral on Gammon India, target of Rs 117
Motilal Oswal has maintained neutral rating on Gammon India with a target price of Rs 117, in its June 14, 2011 research report.
CRISIL assigns valuation grade of 5/5 to JM Financial
CRISIL Research has come out with its report on JM Financial. The research firm has initiated coverage on the company with a valuation grade of ‘5/5’ and maintained the fair value of Rs 42 per share, in its June 14, 2011 report.
Sharekhan's top equity fund picks
In the current domestic and global turmoil there exist numerable equity funds that would fetch us good returns in long term. In the wake of volatile scenario, Sharekhan picks up the best equity-oriented schemes for investment.
Govt cancels two more coal blocks of NTPC
The government has cancelled another two coal blocks allocated to power major NTPC for not developing them within the stipulated time frame.
Nifty trades weak; IT, oil & gas, pharma down
It seems that bears are taking charge of Indian equity markets. Traders are looking uncomfortable after Nifty broke psychologically important mark 5400. It is drifting towards 5350 with selling in IT, oil & gas, pharma, realty and capital goods stocks.
Reliance Industries dips further, stock down 1%
Reliance Industries touched a 52-week low of Rs 875.60. At 13:10 hrs the share was quoting at Rs 876.50, down Rs 11.05, or 1.25%, on the NSE.
New takeover rules likely by end-June: Official
The Securities and Exchange Board of India (SEBI) may finalise takeover rules by end-June, a senior finance ministry official said on Friday, adding the trigger point for making open offers may be raised to 25% from 15% currently.
In Bahrain, a symbol at the heart of revolt
Until a few months ago, the twin towers of the Bahrain Financial Harbour development -- clad in green glass and shaped like over-sized toy sea-horses -- were symbols of the island state's role as a regional financial hub.
Grasim Industries cracks, stock down 2%
Grasim Industries touched an intraday high of Rs 2,168.70 and an intraday low of Rs 2,095.20. At 13:10 hrs the share was quoting at Rs 2,100, down Rs 60.20, or 2.79%.
Euro, stocks drop as Greece worries build
The euro fell on Friday, with investors still largely unconvinced that Greece can dodge a debt default without more political stability in Athens, keeping equity and commodity prices in a near-term downtrend.
EU postpones decision on rescue package for Greece
Amid growing political unrest in Greece and escalating protests against the government's austerity measures, the European Union has postponed a decision on a second multi-billion euro rescue package for the debt-ridden nation at least until mid-July.
IDFC in pact with Africa Finance Corp
Infrastructure Development Finance Co has signed an agreement with Africa Finance Corp (AFC) to help Indian companies enter the continent to expand in infrastructure, logistics, mining, power and telecom, it said late on Thursday.
