News Capsule (11 Aug 10)

The US dollar slid to a 15-year low against the yen Wednesday, dragged down by the anemic recovery in the world’s biggest economy.

FMCG major Nestle today said it will invest Rs 350 crore to set up a manufacturing plant in Karnataka to produce the ‘Maggi’ range of food products.

Foreign institutional investors (FIIs) were net sellers of Rs 85.81 crore (provisional) today, according to data released by BSE.

Cox King could easily now get up to levels of Rs 720 and you could keep a stop loss around Rs 595600 levels, says Ashwani Gujral, Technical Analyst.

Book partial profits in Tata Motors, says Prakash Diwan, HeadInstitutional Business, Networth Stock Broking.

GIC Housing Finance can easily touch levels of Rs 180 from here and its now in a parabolic kind of move. Just keep a stop of about Rs 125, says Ashwani Gujral, Technical Analyst.

Firstcall Research has recommended hold rating on Larsen and Toubro with a target of Rs 2020, in its August 09, 2010 research report.

Hindalco is in middle of the range. It generally becomes a good buy around Rs 140-145 and then tends to go up to Rs 185. This rally should continue, says Ashwani Gujral, Technical Analyst.

Infosys has decent support around Rs 2750, says Shardul Kulkarni, Angel Broking.

PINC Research has recommended hold rating on Piramal Healthcare with a target of Rs 540, in its August 10, 2010 research report.

IIFL is bullish on GAIL India and has recommended buy rating on the stock with a target of Rs 462, in its August 11, 2010 research report.

IIFL is bullish on Century Textiles and Industries and has recommended buy rating on the stock with target of Rs 495, in its August 11, 2010 research report.

JRG Securities is bullish on Sterlite Technologies and has recommended buy rating on the stock with a target of Rs 132 in 12months, in its August 10, 2010 research report.

Buy Provogue, says Technical Analyst, Ashwani Gujral.

Cosmo Films has target of Rs 140, says Technical Analyst, Ashwani Gujral.

Way2Wealth has recommended Accumulate rating on Hindustan DorrOliver with a target of Rs 164, in its August 10, 2010 research report.

The Steel Ministry today expressed hope that South Korean steel major Posco’s Rs 54,000 -crore proposed project in Orissa could get environmental clearance in a month to go off the ground.

Bank of America-Merrill Lynch on Wednesday said it has raised its price objective on Tata Motors to Rs 1,100 from Rs 924, while reiterating a buy rating, a note seen by Reuters showed.

Engineering and Construction Company Niraj Cement Structurals today said that it has received a Rs 71.27 crore contract from the Public Works Department of Bastar Circle, Jagdalpur.

KSK Energy Ventures is looking cheap, says Satish Betadpur, MD of IIR Group.

Hold Adhunik Metaliks for long term, says Satish Betadpur, MD of IIR Group.

Ashok Leyland has bagged 1000 bus order from Sri Lanka

Subex is going to issue 8 million shares to Rayed Holdings at Rs 80 per share

Kaveri Seed can test Rs 500, says Satish Betadpur, MD of IIR Group.

S Kumars can test Rs 105-110, says Technical Analyst, Ashwani Gujral.

ONGC Mittal Energy Ltd (OMEL) is looking to build a 180,000 barrelperday (bpd) refinery in Nigeria, oil minister Murli Deora said on Tuesday.

Exit Hindalco Industries, says Dilip Bhat, Prabhudas Lilladher.

Asian Hotels (East) today listed at Rs 200 on the Bombay Stock Exchange.

Alok Industries said on Wednesday its unit has formed a joint venture with US-based Next Creations to strengthen business opportunities in the textile products segment in the US market.

Hindustan Construction Company has bagged contract worth Rs 121.2 crore

Remain caution in Tata Motors, says Biren Mehta of Kotak Institutional Equities.

Tata Motors on Tuesday said it will ramp-up capacity at its Sanand (in Gujarat) facility that manufactures its low-cost car, Nano, to over 20,000 units per month and 2.5-lakh units annually by this fiscal.

Sahara Group, an Indian conglomerate that sponsors the national cricket team, has pulled out from the race to acquire the English Premier League team Liverpool Football Club due to debt concerns, people familiar with the matter said.

Technical analyst Ashwani Gujral is bullish on UltraTech Cement, JB Chemicals, Canara Bank, Century Textiles and Sobha Developers. He advises traders to buy into these scrips.

HOV Services has target of Rs 110, says SP Tulsian

Shyam Telecom has target of Rs 84, says SP Tulsian

Nirmal Bang has come out with a premarket research report. The broking firm says, support for Nifty is seen at 5,416 and resistance is seen at 5,490.

Bharti Airtel to acquire Telecom Seychelles for $62 million. Telecom Seychelles is the leading telecom operator in Seychelles.

The Indian rupee eased by 10 paise to Rs 46.49 a dollar in early trade at the Interbank Foreign Exchange market today following dollar’s gains against other major currencies.

China’s industrial production growth slowed in the year to July, but consumer inflation accelerated back above the the government’s annual target of 3%.

India’s headline inflation should ease faster than expected by the RBI, and this will reduce the pressure to further tighten monetary policy, a government adviser said.

Tata Teleservices said on Wednesday there was no truth to a media report that Japan’s NTT DoCoMo will invest an additional $1 billion in the Indian firm.

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