Monthly Archives: August 2010

News Capsule (31 Aug 10)

Sandeep Singal, Cohead Institution Equities, Emkay Global is of the view below Rs 900, one can buy Reliance Industries with a long term perspective.

Rahul Mohindar of Viratechindia is of the view that Punj Lloyd may see another 8-10% fall.

Rahul Mohindar of Viratechindia feels that Jaiprakash Associates may correct pretty quickly.

The Asian Development Bank (ADB) said on Tuesday it approved a USD 100 million for a crossborder electricity initiative between Bangladesh and India that will provide impetus for increased power trading in South Asia.

Hero Group and Honda Motor denied a television report the Japanese auto maker was looking to sell its stake in joint venture Hero Honda, helping the Indian company’s shares wipe out losses.

Coral Laboratories at its meeting held on August 31, 2010 has declared dividend at 15% i.e Rs 1.50 per shares of Rs 10.

Rama Pulp at its meeting held on August 31, 2010 has declared dividend at Re 0.50 i.e 5%/share having face value of Rs 10 each for the year 2009-10.

Iron ore exports from Mormugao Port in Goa may rise 10.8% to 46 million tonnes in the current financial year, from 41.5 million tonnes a year earlier on increased shipments, the head of Mormugao Port Trust (MPT) said on Tuesday.

Trading in the equity shares of Sulzer India will be discontinued from September 3, on account of its delisting from the Exchange pursuant to SEBI (Delisting of Equity Shares) Regulations 2009.

India’s fiscal deficit from April to July was Rs 90,915 crore ($19.3 billion), or 23.8 per cent of the full-year target, the government said in a statement on Tuesday.

The Bombay Stock Exchange (BSE) on Tuesday said it has excluded Sulzer India from the BSE small-cap index with effect from September 3.

Inducto Steel at its meeting held on August 30, 2010 has declared dividend at Rs 2 per share of Rs 10 each for the financial year ended March 31, 2010

JBF Industries is looking attractive, says Kartik Mehta, AVP Research, Sushil Financial Services.

Short Nagarjuna Constructions with a stoploss of Rs 154, says Amit Harchekar, Sr Technical Analyst, India Infoline.

Maharashtra Seamless at its meeting held on August 31, 2010 has declared dividend at Rs 6 per share i:e 120% on shares of Rs 5 each.

Hariyana Ship Breakers at its meeting held on August 30, 2010 has declared dividend at Rs 2 per share of Rs 10 each for the year ended March 31, 2010.

Inducto Steel at its meeting held on August 30, 2010 has declared dividend at Rs 2 per share of Rs 10 each for the financial year ended March 31, 2010

Nilkamal has target of Rs 420, says Kartik Mehta, AVP Research, Sushil Financial Services.

Bangalore-headquartered Subex Ltd, a global provider of business support systems, today said it has been selected by the Ecuador-based telecom service provider to implement its industry leading ROC (Revenue Operations Centre) fraud management solution.

Bharti Airtel has launched data services in Thailand and Malaysia,

Karur Vysya Bank has board meeting on September 7 to consider bonus, rights issue

India’s economy is on track to grow 8.5 percent in the current fiscal year to end-March, said Finance Minister Pranab Mukherjee

Tata Communications has signed a two-year deal with the mobile services operator group, Axiata from Malaysia to build and manage an internet protocol (IP)-based network in select markets in Asia Pacific. These include- Dialog Telekom in Sri Lanka, PT XL Axiata in Indonesia, Celcom Axiata in Malaysia and MobileOne in Singapore.

IT firm Sonata Software today said it has opened a new office in Netherlands’ capital city Amsterdam in order to cater to the needs of the company’s growing number of customers.

Hotel chain operator Royal Orchid Hotels Ltd expects to raise room rentals by 10-15 per cent across its 14 properties in the country, President Keshav Baljee told Reuters on Tuesday.

Daiichi Sankyo, Japan’s number 3 drugmaker, said on Tuesday it has upgraded its revenue and profit outlook for the April-September first half thanks to strong earnings at its Indian unit Ranbaxy Laboratories.

Shares of Hero Honda fell more than 6 per cent on Tuesday, after a television channel reported that Hero and private equity firm KKR are in talks to buy out Japan’s Honda Motor’s stake in the company.

The economic growth rate of 8.8 per cent during the first quarter ended June is almost in line with the expectations of Dalal Street, analysts said.

IT major HCL Technologies today said it will merge its subsidiary, HCL Technoparks with itself.

Religare Capital Markets, the investment banking arm of financial services group Religare Enterprises, said on Tuesday it had appointed Nalin Nayyar as head of India investment banking.

REpower Systems AG, a Suzlon group company informed the National Stock Exchange today about the inauguration of a new technology centre in Germany on August 25. The centre will bring together 470 employees from the research and development and technical support and services functions, earlier spread across different offices.

India’s economy could grow better than 8.5 per cent in the fiscal year that ends in March 2011, the deputy chairman of the Planning Commission Montek Singh Ahluwalia said on Tuesday.

GHCL fell after the stock turned ex-dividend today, 31 August 2010, for a dividend of Rs 2 per share for the year ended March 2010.

Rasoi plunged  after the stock turned ex-dividend today, 31 August 2010, for a final dividend of Rs 1 per share for the year ended March 2010.

Tantia Construction advanced  after the company secured an order worth Rs 15.01 crore from Executive Engineer, Rashtriya Sam Vikas Yojna, CPWD, for development of state highways in Bihar

Ruchi Infrastructure at it meeting held on August 30, 2010 has declared dividend at 8% i:e Re 0.08/share capital for the year ended March 31, 2010.

Cipla is going to acquire 25% in its Metpro manufacturing unit

IIFL is bullish on Tata Steel and has recommended buy rating on the stock with a target of Rs 546, in its August 31, 2010 research report.

IIFL is bearish on Nagarjuna Construction Company and has recommended sell rating on the stock with a target of Rs 145, in its August 31, 2010 research report.

On August 30, 2010 Paramount Pharma Private Limited bought 10,000,000 shares of Piramal Healthcare at Rs 491 and Phl Holdings Private Limited sold 10,000,000 shares at Rs 491. Yesterday the stock ended at Rs 490.65.

The rupee weakened by 10 paise to Rs 47.01 a dollar in the early trade on Tuesday at the Interbank Foreign Exchange market.

State-run Coal India Ltd’s initial public offering will begin on October 18 and close on October 21, the firm’s chairman Partha Bhattacharya told reporters on Tuesday.

Kwality Dairy (India) board has approved fund raising up to Rs 1000 crore via rights, QIP, GDR, FCCB

Gitanjali Gems is planning to acquire Italian Jewellery house, reports Business Standard.

Gujarat Pipavav Port has fixed the issue price for its 500 crore public issue at Rs 46 a share while price band was at Rs 42-48.

Kalindee Rail Nirman has bagged order worth Rs 180 crore from Vedanta group

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