News Capsule (10 Aug 10)

Anil Ambani group company Reliance MediaWorks today said it, along with two other group firms, has acquired 24,642 fresh equity shares of multiplex chain operator Fame India.

The Orissa government today said it has taken possession of over 1,000 acres of the 4,004-acre land required for the Posco-India project in the state and will set up a joint task force to protect the acquired land from encroachment.

Terming a US proposal to increase visa fees as discriminatory, Commerce and Industry Minister Anand Sharma today said the increase would cost Indian firms $200 million extra a year and make them less competitive.

Hindustan Construction Company (HCC) said on Tuesday it has received a order worth Rs 121 crore from Hindalco Industries.

Tata Motors plans to start assembling Land Rover vehicles in India from next year, where it already sells the vehicles, its chief executive officer said on Tuesday.

All the uncertainties concerning Reliance and the specific news that KG basin gas will take some more time to come out, is hurting the sentiments as far as Reliance is concerned, says Sudip Bandyopadhyay of Convexity Solutions.

Rahul Mohindar of Viratechindia is of the view that Tata Motors may slip to Rs 920.

Auto parts maker Motherson Sumi Systems Ltd plans to spend about Rs 400-500 crore in 2010/11 to set up plants in India and Hungary to meet rising demand, a senior executive said on Tuesday.

The manufacturing sector growth is expected to moderate in July-September period over the previous quarter due to the gradual phasing out of stimulus measures and increase in input cost, a survey by industry body Ficci has said.

Jim Rogers Investment guru Jim Rogers says that opening of the Indian stock market to foreigners will attract more investors, but equities here are not cheap.

Hindustan Unilever today said it has appointed merchant bankers HSBC Securities and Capital Markets India as lead managers for its Rs 630 crore share buy-back.

Hindustan Motors Ltd expects to turn profitable by end of the current fiscal, a top official said on Tuesday.

Indias third largest IT services provider Wipro Technologies, has set up Bluetooth testing facility in India.

IIFL is bullish on Man Industries and has recommended buy rating on the stock with a target of Rs 90, in its August 10, 2010 research report.

Ajmera Realty and Infra India has target of Rs 188, says Investment Advisor, SP Tulsian.

Essar Shipping has target of Rs 138, says Investment Advisor, SP Tulsian.

Oil fell to near $81 on Tuesday as China imports slowed pace in July, raising the prospect of less crude purchases by the world’s second largest energy consumer as economic growth cools in the second half.

Century Plyboards (I), a plywood maker and cement producer, today said it plans to invest Rs 1,200 crore by 2012 mainly to expand cement manufacturing capacity.

Engineering services provider Infotech Enterprises today said its US-based arm has acquired the Arkansas-based firm Wellsco Inc for an undisclosed amout.

IT firm Nucleus Software Exports today said it has bagged an order from a private sector lender Dhanlaxmi Bank for the implementation of its FinnOne products across the bank’s branches.

Book profits in Unitech, says Siddharth Bhamre, Angel Broking.

Autoline Industries has target of Rs 192, says Investment Advisor, SP Tulsian.

Pipavav Shipyard has target of Rs 113, says Investment Advisor, SP Tulsian.

Buy Suzlon Energy in Rs 5657 range, says Siddharth Bhamre, Angel Broking.

Infosys Technologies said the cost resulting from US plans to raise visa application fees on some companies operating in the United States would over time be passed on to customers as it was a industrywide issue.

Tulip Telecom board has approved to raise upto Rs 1000 crore in 1 or more tranches

GMR Infrastructure is going to buy 50% stake in Intergen

The foreign institutional investors (FIIs) were net buyers of Rs 673.71 crore in futures and options segments on Monday.

Aban Offshore has bagged Rs 2,285 crore orders from Petrobas Brazil. The order is for 5 years and will commence during Q4CY10.

Nirmal Bang has come out with a research report on commodities. The broking firm expects precious metals prices to remain under pressure

JSPL has target of Rs 657, says Mitesh Thacker, Technical Analyst

Reliance Capital may correct to Rs 735, says Mitesh Thacker, Technical Analyst

Three crude tankers holding about 1.5 million barrels of crude oil for Bharat Petroleum Corp are stranded at the Mumbai port, which has been shut following an oil spill

Buy GIC Housing Finance, says Technical Analyst, Ashwani Gujral.

Buy Tata Communications with target of Rs 310, says Technical Analyst, Ashwani Gujral.

Century Textiles and Industries has target of Rs 490, says Technical Analyst, Ashwani Gujral.

Parsvnath Developers can test Rs 144, says Technical Analyst, Ashwani Gujral.

Karnataka state aims to permanently ban iron ore exports to conserve the raw material for steel makers such as ArcelorMittal, which will be given land for its plant this month, Chief Minister BS Yeddyurappa told Reuters on Monday.

Educomp Solutions has target of Rs 700, says Mitesh Thacker, Technical Analyst

Raymond has target of Rs 310, says Mitesh Thacker, Technical Analyst

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