News Capsule (13 Aug 10)

IIFL is bullish on Biocon and has recommended buy rating on the stock with a target of Rs 355, in its August 13, 2010 research report.

IIFL is bullish on Indian Oil Corporation, (IOC) and has recommended buy rating on the stock with a target of Rs 402, in its August 13, 2010 research report.

Europe’s main stock markets advanced at the start of trading on Friday, as investors welcomed news of record second-quarter growth in eurozone powerhouse economy Germany.

Cairn Energy may need approval from the Indian government to sell a stake in its Indian arm, Petroleum Secretary S. Sundareshan said on Friday.

Reliance Communication has received a nod from the Department of Telecommunication (DoT) to buy equipments from Chinese supplier ZTE under new security norms

Hawkins Cooker can test Rs 1400, says Satish Betadpur, MD of IIR Group.

Enter Indian Hotels at around Rs 96-97, says Mitesh Thacker, Technical Analyst

Subex has bagged multi million dollar order from Idea with IBM India

Exit Tata Motors, says Vikas Pershad, Veda Investments.

Patni Computer Systems has announced special dividend at Rs 63 per share. It had cash of around Rs 167 per share on books

Reliance Ada Group Trustees Private Limited bought 249,938 shares of Reliance Media World at Rs 79.79. The stock closed at Rs 79.05.

Union Bank of India can test Rs 345350, says Mitesh Thacker, Technical Analyst

Neyveli Lignite Corporation has target of Rs 177, says Mitesh Thacker, Technical Analyst

Biocon has target of Rs 360, says Mitesh Thacker, Technical Analyst

MRPL can touch Rs 86-88, says Mitesh Thacker, Technical Analyst

Domestic institutional investors (DIIs) were net sellers of Rs 656.05 crore (provisional) on Thursday, according to data released by BSE.

The foreign institutional investors (FIIs) were net buyers of Rs 812.58 crore in futures and options segments on Thursday.

On August 12, 2010 Sudarshan Securities Private Limited bought 1,420,331 shares of Asahi India at Rs 77.34 on the BSE. The stock closed at Rs 81.55.

Siyaram Silk Mill has target of Rs 367, says SP Tulsian

Parekh Aluminex has target of Rs 346, says SP Tulsian

The Reserve Bank of India (RBI) said on Thursday it will consider applications from firms in the hotel, hospital and software sectors to avail external commercial borrowings of more than USD 100 million via External Commercial Borrowings under automatic route.

The rupee is likely to be weak on muted equity market cues. I expect the rupee to remain between 46.7047.30/$, says Pramit Brahmbhatt, Alpari India.

Software and communication services provider Tulip Telecom Ltd will invest around Rs 4 billion in FY11 to set up telecom infrastructure, a top official said on Thursday.

Avantel Ltd has informed BSE that the Company has received an order from Bharat Electronics Ltd, Hyderabad for supply service of electronic products worth Rs 133.70 million.

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