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Showing posts with label market news. Show all posts
Showing posts with label market news. Show all posts
TVS Motor Co. net profit rises
[11/03/2011 11:57:00 PM | ]
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TVS Motor Co, India's No. 3 two-wheeler maker, said on Thursday it posted a 40 percent rise in net profit, riding on an increase in sales during the festival season and said it was confident of achieving a growth of over 15 percent in the current year. TVS, which makes the Flame and Apache range of motorcycles, said it expects to sell over 200,000 vehicles per month in Nov. and Dec.

Stand-alone revenue rose 23.2% to Rs. 1,991.8 crore from a year earlier and 14.1% from the June quarter. Price hikes boosted net average realization by 6.3% from a year ago. This is almost in line with the 6.8% growth in realization seen in the country’s largest motorcycle maker, Hero MotoCorp Ltd. Bajaj Auto Ltd’s realizations grew by only 3.8% during the same period.

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Stock Market Report with Business News
[5/19/2011 06:11:00 PM | ]
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The BSE Indec closed at 18141, with up 55 points, the index touched a high and a low of 18,198.45 and 18,057.82 respectively. While Nifty Index shut up at 5437.75, with little up 7 points, the index touched high and low of 5,452.60 and 5,411.25, respectively.

Market News
Narayana Murthy is reportedly selling part of his stake in Infosys Technologies Ltd. to raise money for its venture capital (VC) fund Catamaran, according to reports.
Domestic News
Narayana Murthy to sell part stake in Infosys: report
Narayana Murthy is reportedly selling part of his stake in Infosys Technologies Ltd. to raise money for its venture capital (VC) fund Catamaran, according to reports. He is likely to raise ~Rs 4-5bn, reports said. Catamaran is reportedly planning a VC fund worth US$400-500mn, which aims to invest in Education, Healthcare and Hospitality sectors.

L&T Q4 Result
Larsen & Toubro Ltd. (L&T) on Thursday announced financial results for the fiscal fourth quarter ended 31st March 2011.

The profit after tax (PAT) in Q4 FY11 stood at Rs. 16.86bn versus Rs. 14.38bn in the same period a year earlier. There was an expectational gain of Rs. 2.26bn, representing gains on the sale of investment in an associate company and partial sale of a strategic investment. Also, the company had an extraordinary gain of Rs. 731.7mn in Q4 FY10.

Net sales for the January to March quarter stood at Rs. 150.78bn as against Rs. 133.75bn in the same quarter last year.

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Dr. Reddy Lab. Q4 double with new deal
[5/14/2011 12:41:00 PM | ]
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Market News
Dr Reddy's Laboratories Limited today reported a 101 per cent jump in consolidated net profit (adjusted) for the quarter ended March 2011 helped primarily by strong margins from new launches. The company's net profit for the fourth quarter stood at Rs 334.5 crore compared to Rs 166.7 crore in the corresponding quarter last year. Revenues grew 23 per cent to Rs 2,017 crore from Rs 1,642.4 crore.

For the full year 2010-11, net profit grew 16.8 per cent to Rs 1,076.2 crore compared with Rs 921.4 crore in the previous year even though there was a moderate rise of six per cent in revenues, which stood at Rs 7,469.3 crore (Rs 7,027.7 crore).The company had a consolidated net profit of Rs 166.7 crore in the same period previous previous fiscal.

The company has also decided to invest Rs 800-850 crore for expanding some of the manufacturing facilities in India and the US this year, Reddy said.

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Stock Suggestion Technical View
[11/24/2010 07:04:00 PM | ]
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Orient Paper & Industries Ltd(Hold)
We have a contrarian call on this stock. It is trading at a very attractive valuation. The company is into paper, cement and electrical business. The paper division of the company suffered because there was water scarcity in the area. It is now back in full swing with the construction of a large water reservoir to take care of future water security. The cement division is also expected to do well on the back of pick-up in demand.

Mahindra & Mahindra Ltd(Hold)
Hold the counter with a stop-loss of 735. The stock has support at 740 and resistance at Rs. 800.

Suzlon Energy Ltd(Hold)
The company’s revival is far off. The debt levels are high. Sell at 53-54 levels. Most negatives have already been factored in the stock price. The stock is unlikely to go below 50 levels and the breakout is at 65-70 levels after which a target of 200-250 is possible in 3-5 years.

Karuturi Global Ltd(Hold)
The utilisation of flowers is expected to go up. The company’s revenue from exports is likely to grow by 30 per cent (YoY basis). Hold with a short term target of 35 The stock is likely to be range bound between 39-30 levels for 3-4 months. The stop loss is far off at 23.50 so sell.

Bank Sector Review
Shares of banks and real estate players tumbled on Wednesday following raids by the Central Bureau of Investigation (CBI) to investigate an alleged multi-crore fake home loans scandal.

The CBI raids were conducted at New Delhi, Mumbai, Kolkata and Chennai.Senior officials of LIC Housing Finance, Central Bank of India and Bank of India were being interrogated.


Shares of LIC Housing Finance are trading at Rs 1,067.10, down Rs 241.05, or 18.43% at the Bombay Stock Exchange (BSE) on Wednesday at 3:12 p.m.

Shares of Central Bank Of India are trading at Rs 193.20, down Rs 21.95, or 10.20% at the Bombay Stock Exchange (BSE) on Wednesday at 3:03 p.m.

Shares of D B Realty are trading at Rs 255, down Rs 57, or 18.27% at the Bombay Stock Exchange (BSE) on Wednesday at 3:22 p.m.

Shares Orbit CorporationRs 6.95, or 7.34%, to trade at Rs 87.70. The total volume of shares traded was 286,304 at the BSE 3.22 p.m.

Shares of UCO Bank declined Rs 5.8, or 3.93%, to trade at Rs 141.70. The total volume of shares traded was 2,003,671 at the BSE 3.26 p.m.

Shares of Canara Bank dropped Rs 41.85, or 5.41%, to trade at Rs 731.05. The total volume of shares traded was 173,720 at the BSE 3.28 p.m.

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Relaince Q2 Result made profit, Stocks For Tomorrow
[10/30/2010 03:24:00 PM | ]
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Reliance Q2 Result

Energy major Reliance Industries posted record profit for the September quarter, beating estimates, bolstered by higher gas output from its field off India's east coast and improved refining margins.The conglomerate, India's largest listed company, has been investing overseas in shale gas assets and has been looking to widen its businesses beyond petrochemicals, refining, oil and natural gas exploration, and retail. "Improved refining margins and high operating rates at all our manufacturing facilities led to a record quarter," Chairman Mukesh Ambani said in a statement.

Total turnover increased to Rs 57,479 crore during the second quarter ended September 30, 2010 from Rs 46,848 crore in the same quarter ended September 30, 2009. As on September 30, 2010, the company has a strong cash position of Rs 13,636 crore. Mukesh Ambani-led Reliance Industries Ltd has reported a 27.8 per cent growth in its net profit at Rs 4,923 crore for the July-September quarter this fiscal.The net profit stood at Rs 3,852 crore in the corresponding period previous fiscal, RIL said in a filing to the Bombay Stock Exchange.

Mahindra & Mahindra
Rationale for call: Stock had generated trend line breakout on its daily chart. Oscillator on daily and weekly chart depicts bullishness with RSI and Stochastic generating bullish crossovers.
Buying is recommended at CMP of Rs 733.7 with target of Rs 780 and stop loss of Rs 700.

Oriental Bank Of Commerce
Rationale for call: Stock had been in continues uptrend since October 2010 which is depicted by higher top & higher bottom on its chart. It had bounced back multiple times from its 20 DEMA indicating strong support for short term. Further, it is forming triangle pattern on its daily chart and can witness breakout if it crosses Rs 509.Oscillator on weekly chart continue to trend upward after generating bullish cross which further support our view of possible triangle breakout mentioned above.
Buying is recommended at CMP of Rs 498.9 with target of Rs 550 and stop loss of Rs 475.

Bajaj Auto
Rationale for call: Stock broke the resistance of 1,510 with huge volumes as well as short term averages had given a buy signal. On the daily chart Oscillator had given a positive divergence, as well as ADX had given a buy signal, thus going forward this stock is looking strong and in the coming days we will witness further upside.
Buying is recommended at CMP 1,511 with target of Rs 1,615 and stop loss of Rs 1,470. 

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Stocks Tips With Market Trend
[10/19/2010 07:56:00 PM | ]
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Stocks tips For Tomorrow

Buy TATA MOTOR -Intraday
at - 1163.25
TGT - 1170.50, 1176.40, 1186.50
SL - 1154.20

Sell – Reliance Industries Ltd.
At - 1041.25
Tgt – 1,036.85, 1030.10,1024.25
SL- 1052.10

Coal India IPO Review
The nation's largest public issue so far is here.Coal India plans to raise up to Rs. 51.54bn (US$3.5bn) through an IPO. On Tuesday, the Government set a price band of Rs. 225 to Rs. 245 a share for the Coal India IPO.
Coal India Ltd. Chairman Partha Bhattacharyya said on Wednesday that the company has set aside US$1.2bn for overseas acquisitions in the current fiscal year. He further added that the focus will be on expansion of profit margins in the future and that Coal India will go for washing of coal in a big way. Margin growth will be a dominant focus in future, he said. The IPO would surpass Reliance Power Ltd.’s Rs. 116mn IPO in January 2008. 

Paramnt Comn Meeting on Oct 29, 2010
Paramount Communications Ltd has informed that a meeting of the Board of Directors of the Company will be held on October 29, 2010, inter alia, to consider, the un-audited standalone and consolidated financial results for the quarter and half year ended on September 30, 2010 and to allot 35,20,000 warrants convertible into equity shares on preferential basis to the identified promoter / promoter group Companies.

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Stock Tips With Market News
[10/15/2010 08:43:00 PM | ]
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Stock Future tips
Buy Rolta India Ltd(15-20 days )
At – (167-172)
Tgt – 180.25, 188.30,204.40
SL- - 152.50

Havells India is currently trading at Rs 416.75, up by 4.65 points or 1.13% from its previous closing of Rs 412.10 on the BSE.The scrip opened at Rs 410.25 and has touched a high and low of Rs 430 and Rs 408.50 respectively. So far 69,787 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 893.00 on 05-Oct-2010 and a 52 week low of Rs 280.40 on 03-Nov-2009. Last one week high and low of the scrip stood at Rs 436.00 and Rs 408.50 respectively. The current market cap of the company is Rs 5258.01 crore.

Areva T&D India is currently trading at Rs 316.20, up by 9.70 points or 3.16% from its previous closing of Rs 306.50 on the BSE. The scrip opened at Rs 309.00 and has touched a high and low of Rs 320.35 and Rs 303.20 respectively. So far 288282 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs 339.70 on 16-Oct-2009 and a 52 week low of Rs 232.50 on 25-May-2010. Last one week high and low of the scrip stood at Rs 331.45 and Rs 303.20 respectively. The current market cap of the company is Rs 7472.00 crore.

Compuage Infocom Ltd has informed that the Board of Directors of the Company at its meeting held on October 15, 2010, has decided to seek approval of members through the Postal Ballot process for the following 2 items: 1. Increase in the limit of Investment by Foreign Institutional Investors (FIIs) in the Companys Equity Share Capital. 2. Increase in the limit of Investment by NRIs and PIOs in the Companys Equity Share Capital. 
 


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Nifty Trend For Tomorrow, Market NEWS
[10/12/2010 08:11:00 PM | ]
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Nifty Trend For Tomorrow

The nifty's further movement will decide only by the dollar movement. if dollar weaken further see upmove in nifty and any strenth in dollar will bring slip down as per sources forex market is very much larger than equity market. fii's who are holding longs in dollar hedging their position by buying asian equities. if dollar starts to get stenthening they will release hedging by selling asian equities.

Bbreak-out above 6244 or break-down below 6044 will take market another 200points in the same direction. the stoploss for bulls and the fresh entry point for bears now placed at 6044. the stoploss for bears placed at 6244-spot.

Tata DoCoMo's 3G service Up To Diwali

The country's fourth-largest telecom operator, Tata Teleservices (TTSL),  today said it has crossed the 80 million subscribers mark with the addition of 2.14 million new subscribers in September this year. TTSL added 2.14 million new wireless and wireline subscribers in the month of September to take its client base to 80,306,495 users, TTSL said in a statement. Tata DoCoMO is the first private mobile service provider to announce the date for launching the much anticipated third-generation (3G) mobile services.  The company aims to get a head-start and plans to introduce high-end services such as ultra-fast internet, videoconferencing and other 3G services by Diwali (November 5th 2010), its executive president, mobility business division, Deepak Gulati told ET.

NSE & BSE Will Start 15 Minute pre-market call auctions
[10/08/2010 10:21:00 PM | ]
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Market News

The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have decided to implement ‘pre-market call auctions’ which is a special 15-minute trading window starting at 9:00 am from October 18.
This also means that all other segments, including derivatives and non-index stocks, will trade only at 9:15 am.

National Stock Exchange and Bombay Stock Exchange will start the 15-minute pre-open session call auction from October 18.

In July this year, capital market regulator Securities and Exchange Board of India had given its green signal for the introduction of pre-open session call auction on the bourses. 

In a call auction practice, participants indicate their willingness to buy or sell units of a security by placing an order for a number of units at the prevailing price before the opening of trade. The mechanism, known as 'pre-open session call auction', will last for a duration of 15 minutes (from 9:00 am to 9:15 am) and will be introduced on a pilot basis by the BSE and NSE. So how does this work? Here is the break-up of these 15 minutes. At 9:00 am, investors will be able to place their ‘buy’ and ‘sell’ orders for Nifty or Sensex stocks for a period of seven minutes. During these seven minutes, no trades will be executed.

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Market Current News
[10/07/2010 08:50:00 PM | ]
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Market News

Kalpataru Power Transmission said that the company has decided to invest Rs.90,04,50,000 in JMC projects towards preferential issue of 43,50,000 equity shares of Rs.10 each at a premium of Rs.197.00 per share.

Corporation Bank said that it has raised its Benchmark Prime Lending Rate (BPLR), COBAR, to 12.75% from existing rate of 12.50%, with effect from October 08, 2010.

Gail India on Wednesday placed orders for Rs.677 crore for laying of pipelines for Dabhol-Bangalore pipeline project. "The placement of construction contract marks a significant step towards execution of the pipeline project and is a testimony of Gail's commitment to bring gas supplies to Karnataka by 2012", said the company Chairman and Managing Director B.C. Tripathi.
The 1,400-km Dabhol-Bangalore pipeline project was approved by the Gail Board in June 2009 at an estimated cost of Rs.5,000 crore with a capacity of 16-MMMSCMD of natural gas transmission.
Applications for obtaining statutory permission for Railway, Highway, River Crossings have been made, said the company with a filing with the BSE.

Stocks Review with Market Update
[10/06/2010 07:12:00 PM | ]
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Market Update
The board of Binani Industries in its meeting on 06 October 2010 decided to acquire / purchase the entire public equity shareholding of its subsidiary, Binani Cement by giving an exit opportunity to the public shareholders of Binani Cement.
Stocks Report
  • Movies and music distributor Eros International Media also debuts on the bourses today. It had priced its IPO at Rs 175 per share. 

  • ICICI Bank has increased its base rate by 25 basis points (bps) to 7.75%. It has also increased its deposit rates by 25-50 bps effective 6 October 2010. Andhra Bank has hiked its base rate by 25 bps to 8.5%. 

  • Federal Bank has reportedly hiked its base rate by 25 bps to 8% and Canara Bank has increased its base rate by 50 bps to 8.5% effective 1 October 2010. Also, UCO Bank has hiked base rate by 50 bps to 8.5%. 

  • The Cabinet Committee on Economic Affairs (CCEA) has reportedly given its go-ahead to divestment of Shipping Corporation of India (SCI). It approved issue of fresh equity of 10% by SCI of its existing equity and sale of 10% of the existing equity out of the government shareholding. 

  • The income tax department has reportedly raised a demand of about Rs 570 crore on Mahindra Satyam for illegally claiming tax credit on fictitious income between 2003-04 and 2008-09. 

  • Godrej Properties has signed a development agreement for a 1.35-acre plot in Chembur, Mumbai. The property, which is on the Sion-Trombay highway, has development potential of around 1,50,000 sq. ft. 

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Bullish Market Review, Stock Option News
[9/20/2010 05:34:00 PM | ]
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Market on High
At 2:30 pm, National Stock Exchange’s Nifty was at 5959.80, up 74.85 points or 1.27 per cent. The broader index touched intraday high of 5965.35 and low of 5885.05.Bombay Stock Exchange’s Sensex was at 19845.81, up 251.06 points or 1.28 per cent. It hit a high of 19864.13 and low of 19445.42 in trade so far.

The Sensex, which rose to 19,927.30, its best intra-day level since 17 January 2008, ended the session with a gain of 311.35 points or 1.59% at 19,906.10, its highest close since 16 January 2010. The Nifty ended with a big gain of 95.50 points or 1.62% at 5980.45, slightly off the day's high of 5989.50.

Stock Option News
IDFC grants 100000 Stock Options under ESOS

Infrastructure Development Finance Company Ltd has announced that on September 20, 2010, pursuant to IDFC Employee Stock Option Scheme 2007, the Company has granted to its employees 1,00,000 options equivalent to 1,00,000 equity shares at a price of Rs. 193.45 per equity share.

The stock was trading at Rs.193.70, up by Rs.0.35 or 0.18%. The stock hit an intraday high of Rs.194.80 and low of Rs.192.60.

Lupin allots 102800 Equity Shares


Lupin Ltd has announced that the Allotment Committee of Directors at Its meeting held on September 20, 2010 has allotted 102800 fully paid up equity shares of Rs. 2/- each. These shares have been allotted upon exercising of options granted to the employees under Stock Option plans of the Company.

In view of the above, the issued and paid up capital of the Company has been increased to Rs. 89,13,50,840 consisting 44,56,75,420 equity shares of Rs. 2/- each. The stock was trading at Rs.389.85, up by Rs.2.25 or 0.58%. The stock hit an intraday high of Rs.396 and low of Rs.387.05.
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CAG completes RIL gas field cost audit - Market News
[8/06/2010 08:42:00 PM | ]
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Comptroller and Auditor General(CAG) -"The audit is complete at CAG end. We are currently in the final compilation stage after which the report will be sent to the Oil Ministry for comments," a CAG official said.

CAG, which went into the $8.8 billion cost incurred by Reliance in producing gas from the nation's largest field, had examined and received replies on its audit comments from the Mukesh Ambani-led firm. The CAG plans to complete the entire audit process, which will include incorporating oil ministry's comments on its findings, by November.

CAG started audit of Krishna Godavari basin D6 field on December 21 last year. It, however, faced some difficulty in accessing new documets it sought after completing the first round of scrutiny. But within a month, RIL complied and the premier auditor made good progress thereafter.

RIL had on August 17 agreed to an audit by CAG but the nation's premier auditor could put its house in order for the audit only by December.

CAG's scope of audit of PSC in respect of the block KG-DWN-98/3 (KG-D6) awarded to RIL, for two financial years - 2006-07 and 2007-08, with access to records of previous years linked to transactions of these years.
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