News Capsule (16 Jul 10)

  • Tata Motors to hike Nano prices by up to 4% Tata Motors had said the first 1- lakh customers are price-protected and they would get their cars at the price range of Rs 1.23-Rs 1.72 lakhs. Nano factory at Sanand
  • Ever since the Supreme Court delivered its verdict on 7 May in the RILRNRL gas case, all analysts were guessing that ADAG may just not go ahead with the proposed 8000 mw power plant at Dadri.
  • Citigroup Inc posted a $2.7 bn quarterly profit, down 37 percent from the same quarter last year, hurt by lower revenue in its investment banking business.
  • Foreign institutional investors (FIIs) were net buyers of Rs 676.44 crore (provisional) today, according to data released by BSE.
  • Tata Steel today said its Singapore-based subsidiary NatSteel Holdings has sold about 27 per cent stake in Malaysian firm Southern Steel Berhad for $72 million.
  • Asit C. Mehta has recommended hold rating on MindTree with a target of Rs 588 in its July 15, 2010 research report.
  • Sunidhi Securities is bullish on Hyderabad Industries and has recommended buy rating on the stock with a target of Rs 900 in its July 14, 2010 research report.
  • Andhra Pradesh Paper Mills informed the Bombay Stock Exchange that the shareholders at the 46th Annual General Meeting (AGM) held on July 15 have approved a dividend of Re 1 per share on over 3 crore shares of Rs 10 each aggregating to Rs 327.52 lakh.
  • Punjab Alkalies & Chemicals has informed the Bombay Stock Exchange that the Government of Punjab (Directorate of Disinvestment) has issued a global invitation for Expression of Interest (EoI) on July 15, for the disinvestment of Punjab State Industrial Development Corporation’s (PSIDC) entire stake of 44.26 per cent in the company.
  • Cera Sanitaryware is considering to expand existing sanitary ware capacity from 2 million to 2.7 million pieces at its plant at Kadi, Gujarat. The approximate cost of this expansion is estimated at Rs 40 crore.  It is considering 1:1 bonus and 50% dividend.
  • ILandFS Transportation Networks has bagged order worth Rs 536 crore from NHAI
  • Yes Bank is still going in the range of Rs 260 to about Rs 295300. Once it can move out of Rs 300 consistently, then next target could be Rs 360, says Technical Analyst, Ashwani Gujral.
  • Critical law and order situation in Jamshedpur caused by Maoist rebels is impacting business at Tata Steel, with suppliers and customers reluctant to visit its Jamshedpur plant, a business daily reported on Friday quoting the firm’s top executive.
  • Buy Hindalco Industries, says Technical Analyst, Sudarshan Sukhani.
  • Book profits in Axis Bank, ICICI Bank and HDFC Bank, says Technical Analyst, Sudarshan Sukhani.
  • With an intention of selling its noncore assets, Godrej is learnt to be in exploratory talks to exit Geometric Software by selling the 38.4% stake it holds in the latter.
  • Exit Axis Bank on upside, says Atul Badkar, Edelweiss.
  • Life Insurance Corporation (LIC) is nudging Swiss engineering firm ABB to raise the open offer price made to public shareholders of its Indian arm, in which the insurer holds 16.3%.
  • Technofab Engineering (TEL), specialises in engineering, procurement and construction services, listed on the bourses today at Rs 276 per share. Issue price was fixed at Rs 240 per share, at higher end of price band of Rs 230-240.
  • Exide Industries has approved acquisition of 46.8 lakh shares of Leadage Alloys India Ltd.
  • Suzlon Energy has bagged 19.2 MW order from Baidyanath Group
  • Raamdeo Agrawal, Director and Cofounder, Motilal Oswal Financial Services, feels it is too early to compare Infosys and TCS based on their Q1 earnings.
  • Buy Exide Industries on dips, says Technical Analyst, Sudarshan Sukhani.
  • Buy 3i Infotech, says Technical Analyst, Sudarshan Sukhani.
  • Larsen & Toubro (L&T), said on Thursday it would seek shareholders approval on August 26 to raise as much as $600 million.
  • Domestic institutional investors (DIIs) were net sellers of Rs 588.46 crore (provisional) yesterday, according to data released by BSE.
  • JSW Energy, a part of the diversified Jindal group, has earmarked an investment of Rs 8,000 crore in business across the power spectrum with plans to add over 2,000 MW of generation capacity in FY11, a top company official said.
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  • By Mortgage 101 on July 16, 2010 at 10:39 am

    News Capsule (16 Jul 10)…

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