News Capsule (15 Jul 10)

  • Way2Wealth is bullish on Allahabad Bank and has recommended buy rating on the stock with a target of Rs 206 in its July 15, 2010 research report.
  • IIFL is bullish on Amara Raja Batteries and has recommended buy rating on the stock with a target of Rs 220 in its July 13, 2010 research report.
  • Ranbaxy Laboratories has launched Lipitor Generic in South Africa.
  • Cabinet has okayed State Bank Of Indore and SBI merger
  • Jai Balaji Industries has received BIS Certification for iron pipe plant
  • Food inflation rises to 12.81 per cent for the week ended July 3 from 12.63 per cent a week earlier.
  • Larsen & Toubro (L&T) has informed the Bombay Stock Exchange that it would be investing about Rs 3,600 crore in the power equipment manufacturing units in India.
  • Tata Motors on Thursday said its global vehicles sales rose 46 per cent in June to 91,608 units, compared with a year ago.
  • Annual food inflation inched up to 12.81 per cent for the week ended July 3, while fuel inflation shot up to 14.27 per cent, reflecting the hike in oil prices.
  • India gold traders refrained from entering into fresh deals as prices edged up to trade comfortably near the $1,210-an-ounce mark, with traders eyeing the rupee for direction, dealers said on Thursday.
  • Fortis Healthcare Ltd today dispatched a voluntary conditional cash offer document to the shareholders of Singapore-based Parkway Holdings, Fortis’ financial adviser RHC Holdings Private said.
  • A report by a senior official in the Planning Commission has said the National Highways Authority of India (NHAI) is heading towards bankruptcy, as its debt is set to increase five times in the next three years.
  • Liquor baron Vijay Mallya today met Oil Secretary S Sundareshan to discuss defaults by his group firm Kingfisher Airlines on payment of jet fuel bills, but did not say when he will clear the outstanding of Rs 176 crore.
  • Reliance Communications may have to lower the value of its tower assets being sold to GTL Infrastructure in view of a likely stake sale in the No. 2 Indian mobile operator to Abu Dhabi’s Etisalat, a business daily reported.
  • Oil prices sank in Asian trade today as traders took profit from yesterday’s rally spurred by a better-than-expected fall in US crude stockpiles, analysts said.
  • Indias spices exports in April-May increased 30 per cent year-on-year, both in terms of volume and value, according to data by the Spices Board.
  • Punjab government has invited EOIs for divesting 44.26% stake in Punjab Alkalies and Chemicals
  • Suzlon Energy has bagged 37.8 MW order from Serum Institute
  • HCL Infosystems has bagged MP UID deal
  • Amrutanjan Health Care has withdrawn buyback offer
  • Karvy Forex Research has come out with a research report on currencies. The broking firm says, rupee will remain volatile during the day
  • HMT has target of Rs 83-85, says Mitesh Thacker, Technical Analyst
  • Union Bank of India on Wednesday said its board has approved the issue of Rs 111 crore of perpetual noncumulative preference shares to the federal government.
  • Nissan Motor India Private Ltd (NMIPL) has announced its product offensive in India with the commercial launch of its first ‘MadeinIndia’ compact hatchback – the new Nissan ‘Micra’.
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