News Capsule (06 Aug 10)

Bank of Baroda has decided to increase its benchmark prime lending rate (BPLR) by 50 basis points from existing 12 per cent per annum to 12.50 per cent per annum with effect from today i.e. August 06, 2010. The bank said in a BSE filing.

Cox and Kings (India) has target of Rs 740, says Technical Analyst, Ashwani Gujral.

Book profits in Tata Steel, says Phani Sekhar, Angel Broking.

Wipro and NTT are in advanced talks to acquire Kale Consultants

Sushil Finance is bullish on Genus Power Infrastructures and has recommended buy rating on the stock with a target of Rs 320, in its August 04, 2010 research report.

Asit C. Mehta is bullish on Godawari Power Ispat and has recommended buy rating on the stock with a target of Rs 269, in its August 06, 2010 research report.

Prabhudas Lilladher is bullish on Bombay Rayon Fashions and has recommended buy rating on the stock with a target of Rs 338, in its August 05, 2010 research report.

Andhra Bank has nominated N Rajagopal Reddy as Officer Employee Director on the Board of Directors of Andhra Bank for a period of three years from the date of notification or until he ceases to be an Officer of the Bank or until further orders, whichever is the earliest. The bank said in a BSE filing.

Shirdi Industries Ltd (SIL), the manufacturer of Asis brand furnishing solutions, plans to enter the capital market next month to raise Rs 110 crore. The company is currently awaiting approval from the capital market regulator the Securities and Exchange Board of India (SEBI).

JIK Industries Ltd, a manufacturer of crystal glassware and allied products, has announced restoration in its luxury products to its prominent customers like major star hotels and prestigious retail stores. The company in a BSE filing said on Friday that the unfortunate accident that had reduced it to ashes overnight in 2004, has restructured its facility and is now debt free.

The company, which is India’s largest car exporter, has planned to reduce overseas shipments by 8 per cent this year at 250,000 units in order to meet domestic demand.

Tata Teleservices, India’s fifthbiggest mobile phone operator, has added about 2.5 million mobile subscribers in July, Managing Director Anil Sardana said on Thursday.

ICSA can test Rs 150, says Siddharth Bhamre, Angel Broking.

There was a block deal of 15 lakh Max India shares at Rs 156

GVK Power Infrastructure is planning to raise upto Rs 1,500 crore via convertible issue

Angel Broking is bullish on Madras Cements and has recommended buy rating on the stock with a target of Rs 139, in its August 05, 2010 research report.

Buy Mercator Lines, says Technical Analyst, Sudarshan Sukhani.

Reliance Industries is looking weak, says Technical Analyst, Sudarshan Sukhani.

Japan’s Mitsui and Co Ltd and its Indian partner have firmed up plans to build a special economic zone in India that will house a $1 billion steel complex, the Mint newspaper reported on Friday.

Bussan Auto Finance India, which is providing finance services to customers and dealers of India Yamaha Motor, today said it targets Rs 100 crore of financing of Yamaha customers this fiscal.

Sell Lanco Infratech, says Technical Analyst, Sudarshan Sukhani.

Sell Kotak Mahindra Bank, says Technical Analyst, Sudarshan Sukhani.

Buy Bombay Rayon, says Technical Analyst, Sudarshan Sukhani.

Buy BEML, says Technical Analyst, Sudarshan Sukhani.

Buy S Kumars Nationwide, says Technical Analyst, Sudarshan Sukhani.

Tulip Telecom has won RAPDRP projects worth Rs 158.2 crore for Uttar Pradesh and Gujarat

BAG Films and Media board has approved preferential allotment of 50 lakh shares to promoters

Foreign Direct Investment (FDI) in India’s textiles sector increased 11 per cent to Rs 968.7 crore in 2009, compared to the previous year.

Tata Realty and Infrastructure (TRIL), a wholly-owned subsidiary of Tata Sons, would execute projects worth Rs 30,000 crore in the country over the next five years, a top company official said here today.

Domestic institutional investors (DIIs) were net sellers of Rs 187.81 crore (provisional) yesterday, according to data released by BSE.

Direct tax collection has shot up 15.75 per cent to Rs 85,647 crore in the first four months of the fiscal, driven by a healthy 21 per cent jump in corporate income tax realisation.

Jain Irrigation Systems today said that it has bagged a Rs 168.3-crore order from Neeravari Nigam, a division of the Karnataka water department.

The Uttar Pradesh Power Corporation (UPPCL) today approved investments of Rs 2,900 crore for building power infrastructure in the state.

According to Angel Broking report, if Nifty trades below 5459 levels for the first halfanhour of trade then it may correct up to 5431-5415 levels.

Indian Hotels Co Ltd, owner of the Taj luxury chain, plans to selectively expand across the globe but would have to improve its profit margins further, Chairman Ratan Tata said on Thursday.  Indian Hotels Co will spend nearly Rs 960 crore over three years to selectively expand across the globe, Chairman Ratan Tata said on Thursday.

Hyundai Motor India Ltd, the country’s second largest car manufacturer and the largest passenger car exporter continued to be on a growth trajectory with the domestic sales growing by 24.2% over the same month last year.

Vodafone is open to selling its 4% stake in Bharti Airtel

At 7: 41 am (IST), Asian markets were trading mixed. China’s Shanghai Composite was down 0.25% or 6.47 points at 2,614.28. Hong Kong’s Hang Seng was up 0.11% or 24.23 points at 21,575.95. Japan’s Nikkei shed 0.49% or 47.16 poinst at 9,606.76. Singapore’s Straits Times slipped 0.50% or 15.09 points at 2,991.67.

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