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Equity benchmarks were extremely volatile in trade at 14:54 hours. Capital goods, metal, FMCG and healthcare companies' shares were putting pressure on the markets.
CRISIL Research has come out with its report on Chaman Lal Setia Exports. The research firm has initiated coverage with a valuation grade of ‘4/5’, indicating that the market price has ‘upside’ from the current levels.
Foreign Exchange Turnover Data
BGR Energy environmental engineering division has bagged order worth Rs 29.76 crore from Powergen Infra.
Comments on Budget 2011-12 for Visual effects and 3D industry by Nishant Fadia, CFO, Prime Focus ltd
The government today sought Parliament's nod for the sanction of an additional Rs 79,590 crore to meet extra expenses related to oil and fertiliser subsidies during the current fiscal, over and above the funds allocated earlier.
Berger Paints India has fixed March 15, 2011 as the 'Record Date' for payment of interim dividend.
Orient Abrasives has fixed March 15, 2011 as the 'Record Date' for payment of interim dividend.
Sushil Finance is bullish on Mphasis and has recommended buy rating on the stock with a target of Rs 550 in its February 28, 2011 research report.
LG Electronics India expects its mobile phones division to clock 40% growth to achieve a turnover of around Rs 3,000 crore this year, against Rs 2,000 crore recorded last year, reports Financial Chronicle.
Electronic chip maker ST Microelectronics said its business is expected to grow by 25%, driven by direct-to-home (DTH) and security segments, in the Indian market this year, reports The Economic Times.
About 18 Indian companies will participate in the 2011 edition of the International Home & Housewares Show taking place at the McCormick Place Convention Center from March 6 to 8, reports The Economic Times.
Adidas plans to expand its retail reach in India by opening 125 new exclusive stores by the end of this year, reports The Economic Times.
Consumer durables major Samsung India is expanding its senior management team in the country, reports The Economic Times.
With the recent acquisition of ICP, a hair care and cosmetics company, Marico is working towards building regional brands as against global brands in the near term, reports Business Standard.
While the government tried to synchronise the duty structure of by-products of edible oil refining with imported products, it is the domestic edible oil refineries that will be hit, reports Business Standard.
Public sector oil exploration and marketing companies are likely to see a near doubling of under-recoveries to Rs 30,000 crore this quarter, because of soaring crude oil prices, according to a report by rating agency CRISIL.
FMCG firms, GCPL and Emami, have expressed interest in acquiring Chennai-based Henkel India's haircare business, reports Business Standard.
Hindustan Unilever has quietly opened a 'Bru World Café' outlet on a pilot basis at Juhu, an upmarket western suburb of Mumbai, reports The Economic Times.
The benchmark Nifty was sailing through choppy waters at 14:07 hours. Capital goods, FMCG, metal and select healthcare companies' shares were witnessing selling pressure.
The 2011–12 Budget was largely positive for most companies FMCG companies with peak excise duty remaining unchanged, only a marginal hike in MAT rate (from 18% to 18.5%), and an increase in tax exemption for individual taxpayers (raising disposable incomes), reports The Economic Times quoting Religare Capital Markets’ reports.
Parle-G, the glucose biscuit brand from Parle Products , has consolidated its position as the world's largest selling biscuit brand, says a report by Nielsen, reports The Economic Times.
Reliance Power touched an intraday high of Rs 119.10 and an intraday low of Rs 114.25. At 14:08 hrs the share was quoting at Rs 118.10, up Rs 4.50, or 3.96%.
ABB touched an intraday high of Rs 748.90 and an intraday low of Rs 682.15. At 14:03 hrs the share was quoting at Rs 741.00, up Rs 52.45, or 7.62%.
Larsen and Toubro (L&T) was the top loser on the Sensex. It touched an intraday high of Rs 1,683.10 and an intraday low of Rs 1,610.75. At 13:54 hrs the share was quoting at Rs 1,612.80, down Rs 49.20, or 2.96%.
