News Capsule (29 Jul 10)

HCC receives total cost of the project is Rs 126.225 Crores and will be completed in 16 months.

Hero Honda Motors has announced its first quarter Q1 results. The company’s Q1 net profit was down at Rs 492 crore versus Rs 500 crore, yearonyear, YoY.

Lanco Infratech Ltd., one of India’s fastest growing integrated infrastructure enterprises, has bagged a contract from Maharashtra State Power Generation Co Ltd (Mahagenco) for Balance of Plant (BOP) package for three new units of 660 MW each being set up for Mahagenco’s Koradi Thermal power Plant near Nagpur.

Oil and Natural Gas Corporation’s (ONGC) April to June net sales were down 8% at Rs 13,666 crore as compared to Rs 14,879 crore yearonyear (YoY). Net profit was down 24% at Rs 3,661 crore as against Rs 4848 crore YoY

S.E.Investments Ltd announced that Punjab National Bank has enhanced the Fund Based Limit from Rs 300 million to Rs 450 million and sanctioned Term Loan of Rs 600 Million.

The rupee strengthened to its highest level in nearly a month on Thursday afternoon boosted by the dollar’s sharp losses against major currencies and some gains in the local sharemarket.

Essar Oil, Australia’s Arrow Energy and Great Eastern Energy will invest $158 million in seven coal bed methane (CBM) blocks, for which contracts were signed with the government today.

Domestic institutional investors (DIIs) were net sellers of Rs 920.35 crore (provisional) today, according to data released by BSE.

Plans for an initial public offering by No 3 Indian telecoms firm Vodafone Essar is in a preliminary stage, the chief executive of Essar Group, Prashant Ruia, said on Thursday.

Retailer Trent Ltd, part of the diversified Tata Group, said on Thursday its Managing Director Noel Tata will step down effective Aug 12 to take over as MD of Tata International Ltd.

Motilal Oswal has recommended neutral rating on Reliance Industries with a target of Rs 991 in its July 27 research report.

Buy Cairn India, says Monal Desai of Prabhudas Lilladher.

As part of its financial restructuring plan to reduce debt burden, Kingfisher Airlines will infuse equity amounting to Rs 350 crore during this financial year.

Hexaware Technologies is aiming for 7.5 per cent growth in the third quarter on the back deals worth USD 200-million signed in the last quarter.

Global Holdings and communications services provider Tulip Telecom will buy 13 per cent each in newly formed Qualcomm’s local unit

Apollo Tyres Ltd would invest Rs 1,100 crore this year in its nine plants in India and abroad, besides expanding its operations in Asia, a top company official  said today.

Engineers India Ltd’s up to $211 million follow-on share sale was subscribed 1.6 times by Thursday afternoon, exchange data showed.

A major mortgage lender says that average house prices in Britain fell by half a percent in July, the first drop since February.

HCL Technologies can retest Rs 405-410, says Mitesh Thacker

Exit Idea Cellular, says Mitesh Thacker, Technical Analyst

Kalyani Steels has target of Rs 155160, says Mitesh Thacker, Technical Analyst

Sun Pharmaceutical Industries Ltd expects to meet its guidance of 18-20% revenue growth in 2010/11, Managing Director, Dilip Shanghvi said on an analysts call on Thursday.

State-run explorer Oil India Ltd has set aside $2 billion for overseas acquisitions, its head N M Borah told reporters on Thursday.

British media buying group Aegis has made a A$363 million ($324 million) takeover bid for Australian rival Mitchell Communication Group as it seeks to strengthen its presence in emerging Asian markets.

Airline group Deutsche Lufthansa AG says it made a net profit of euro194 million ($252 million) in the second quarter, more than twice last year’s euro89 million, as ticket sales recovered.

Century Textiles is planning to restart shipping business  (market rumor)

Saudi Aramco has signed contract with international firms to build a multi-billion dollar refinery at Yanbu on Saudi Arabia’s Red Sea coast and Dayim Punj Lloyd, a unit of Punj Lloyd, is one of them.

Sun Pharma today claimed victory over Eli Lily and Co in a patent litigation over Gemzar, used in cancer treatment, with a US federal court ruling in its favour.

July 17 food articles inflation at 9.67% Vs 12.47% (WoW). Primary articles inflation at 14.5% Vs 16.48%.

India’s fuel price index rose 14.29 percent in the year to July 17, while the food price index climbed 9.67 percent, government data released on Thursday showed.

HPCL can test Rs 490, says Technical Analyst, Sudarshan Sukhani.

The Indian rupee opened at Rs 46.73 per dollar versus Rs 46.76 yesterday.

Short India Infoline, says Technical Analyst, Sudarshan Sukhani.

Andhra Cement is going to consider preferential issue to HDFC and IDFC on 30 July

Exide Industries has target of Rs 155-156, says Hemant Thukral of Asian Markets Securities.

Prakash Steelage has fixed the price band between Rs 100 and Rs 110 per equity share for a public issue of 62.5 lakh equity shares.

Reliance Industries will be able to ramp up natural gas output from its KrishnaGodavari deepsea fields to peak capacity of 80 million metric standard cubic metres a day (mmscmd) in the fiscal year to March 2013, Oil Secretary S. Sundareshan said on Wednesday.

Buy Petronet LNG, says Technical Analyst, Sudarshan Sukhani.

According to Angel Broking report, if Nifty trades below 5430 levels for the first halfanhour of trade then it may correct up to 5408-5386 levels.

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