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Finance Minister Pranab Mukherjee said that disinvestment target is pegged at Rs 40,000 crore for the year 2011-12. The realisation of disinvestment receipts is estimated at Rs 22,400 crore for the year ending March 2011.
The benchmark Nifty was hovering around the 5350 level during the Finance Minister Pranab Mukherjee Union Budget speech. FM said would be taking steps to simplify tax, tariff procedures. "We need to ensure sustained private investment," he said.
Emkay Global Financial Services is bullish on Jubilant Foodworks and has recommended accumulate rating on the stock with a target of Rs 600 in its February 28, 2011 research report.
He has a challenging economic situation to contend with. On the plus side, there has been a rebound in growth. But global crude oil prices are near USD100 a barrel, inflation is high, as is the current account deficit. And there has been little progress on policy reform.
Finance Minister Pranab Mukherjee is clearly the man of the moment as he presents the Union Budget 2011-12 in Parliament.
The benchmark Sensex remained firm with the gain of 150 points as Finance Minister Pranab Mukherjee's budget speech begins. He said economy got back to pre crisis growth trajectory and economy regained pre crisis growth momentum.
Aditya Birla Money is bullish on Housing Development Finance Corporation (HDFC) and has recommended buy rating on the stock with a target of Rs 680 in its February 28, 2011 research report.
Finance Minister Pranab Mukherjee is clearly the man of the moment as he presents the Union Budget 2011-12 in Parliament.
Emkay Global Financial Services is bullish on Kajaria Ceramics and has recommended buy rating on the stock with a target of Rs 100 in its February 28, 2011 research report.
Chemicals and tyre-cord maker SRF said on Monday it received board approval to invest Rs 6.65 billion for expansion, including setting up of a packaging film plant in South Africa.
Aditya Birla Money is bullish on Ashok Leyland and has recommended buy rating on the stock with a target of Rs 51 in its February 28, 2011 research report.
Ramesh Damani, member of BSE says expectations are fairly low at this point from the Union Budget.
Warren Buffett is looking for acquisitions as an outlet to deploy his USD 38 billion cash pile, the legendary investor said in his annual letter to Berkshire Hathaway Inc shareholders on Saturday.
The benchmark Nifty has touched the 5350 level ahead of union budget 2011 today, pushed up by oil & gas, capital goods, power, FMCG, technology and select financial companies' shares.
British actor Colin Firth won the Academy Award on Sunday for his lead role as stammering wartime monarch King George VI in The King's Speech.
The King's Speech won four Oscars including best film on Sunday during Hollywood's biggest night when many front-runners claimed glory including Colin Firth and Natalie Portman for best actor and actress.
Provogue (India) touched an intraday high of Rs 42.30 and an intraday low of Rs 40. At 10:34 hrs the share was quoting at Rs 41.75, up Rs 2.25, or 5.70%.
Alpari has come out with a report on USD/INR Daily Report.
Power Grid Corporation of India was among major gainers on the Nifty. It touched an intraday high of Rs 104.40 and an intraday low of Rs 99.70. At 10:36 hrs the share was quoting at Rs 103.80, up Rs 4.60, or 4.64%.
Angel Broking is bullish on Mphasis and has recommended buy rating on the stock with a target of Rs 623 in its February 25, 2011 research report.
Coal India, the world's largest coal miner, said on Monday it would get Rs 62 billion (USD 1.4 billion) in additional revenue in the next fiscal year that begins in April after revision in coal prices, sending its shares up more than 11%.
Areva T&D Q4 PAT was up 29.2% at Rs 88 crore versus Rs 68.1 crore, reports CNBC-TV18. IT touched an intraday high of Rs 285 and an intraday low of Rs 276.75. At 10:08 hrs the share was quoting at Rs 277.80, down Rs 6.10, or 2.15%.
Natalie Portman won the best actress Academy Award on Sunday for her role as an unhinged ballerina in Black Swan.
The rupee was stuck in a narrow band on Monday as traders were reluctant to enter market before the budget is unveiled around 0530 GMT.
The 50-share NSE Nifty extended gains a bit ahead of Union Budget 2011 today at 10:05 hours. Market expects some announcements towards the DTC, GST, FDI in retail, banking license, oil subsidy and fertiliser subsidy.
