News Capsule (17 Aug 10)

Bhagwati Banquets is set to expand its footprint in India especially in tier 2 cities. For the year FY11, it will invest close to Rs 300 crore towards its expansion plans.

Leading private life insurer HDFC Standard Life today reported 63 per cent growth in first-year premium collection at Rs 692.7 crore for the quarter ended June in this fiscal.

Wal-Mart Stores Inc posted a higher quarterly profit, helped by cost cuts and growth in international markets as sales at US stores open at least a year fell.

Foreign institutional investors (FIIs) were net buyers of Rs 404.09 crore (provisional) today, according to data released by BSE.

UK-based Compass Group Plc has snapped up Indian catering services provider Tirumala Hospitality Services Private Ltd for an undisclosed amount.

Educomp Solutions at its meeting held on August 17, 2010 has declared dividend of Rs 1.75/share (face value of Rs. 2/ each) for the year 2009-10.

Angel Broking has recommended accumulate rating on ABG Shipyard with a target of Rs 271, in its August 13, 2010 research report.

Sika Interplant at its meeting held on August 16, 2010 has declared dividend at 6% for the year ended March 31, 2010.

Vimal Oil Foods has its Board of Directors meeting on August 26, 2010 to consider and approve the audited annual accounts for dividend.

Vama Industries has its Board of Directors meeting on August 25, 2010 to consider and approve the audited annual accounts for dividend.

Aqua Logistics reported standalone net sales of Rs 91.98 crore, up 20% as compared to Rs 76.91 crore in the first quarter ended June 2010. Net profit rose to Rs 6.93 crore versus Rs 4.37 crore, a 59% jump.

Technofab Engineering has bagged order worth Rs 166 crore.

KRChoksey is bullish on Unitech and has recommended buy rating on the stock with a target of Rs 108.

Expect some upside in Bajaj Hindusthan, says Hemen Kapadia of Chartpundit.com.

Tata Capital, a Tata Group company, plans to raise Rs 3000 crore in FY11 to support its business plans, Praveen Kadle, managing director and chief executive officer told reporters on Tuesday.

Kotak Mahindra Bank today announced an across-the-board upward revision of its lending rates by 0.25 per cent to 16 per cent with immediate effect.

ArcelorMittal, the world’s largest steelmaker, is in talks with Chinese Wuhan Iron & Steel Group to jointly develop overseas mining projects to gain more raw material resources and reduce cost risks, a media report said.

Trade deficit widened to $12.93 billion in July as exports fell short of target due to lower demand of leather, handicrafts and readymade garments in the US and Europe.

See higher level in Bank of Baroda, says Salil Sharma, Technical Analyst, Kapur Sharma Co.

Trigyn Technologies has target of Rs 29.30, says Salil Sharma, Technical Analyst, Kapur Sharma Co.

Car maker Mahindra and Mahindra (MM) may have joined the race for Hindustan Motors asset sale

Hindustan Petroleum Corp is looking at buying fuel retail assets of Royal Dutch Shell in Africa, the Indian company’s chairman said on Tuesday.

Bajaj Corp, one of India’s leading producers of hair oils, has fixed August 18 as a listing date for its equity shares, which issued recently via public issue.

Radhika Gupta, Director of Forefront Capital Management is neutral on Jaiprakash Associates.

BPO firm Hinduja Global Solutions, part of diversified Hinduja Group, today opened its second global delivery centre at Durgapur in West Bengal.

Karvy Stock Broking is bullish on Patel Engineering and has recommended buy rating on the stock with a target of Rs 529 in its August 16, 2010 research report.

Emkay Global Financial Services has recommended accumulate rating on Shree Cement with a target of Rs 2200, in its August 17, research report.

Exit Cipla, says Radhika Gupta, Director of Forefront Capital Management.

Kitex Garments has its Board of Directors meeting on August 28, 2010 to consider and approve the audited annual accounts for dividend.

Indian Bank has hiked the interest rates on its deposits of Rs five crore and below the maturity of two years and above by 50 basis points from 7.25 per cent to 7.75 per cent, the bank said today.

In its efforts to further spruce up marketing set-up, RPG Life Sciences has launched its third vertical, Impulse, to focus on the growing cardio-metabolic segment of the pharmaceutical business.

Exports in July grew an annual 13.2 percent to $16.24 billion, Trade Secretary Rahul Khullar told reporters on Tuesday, the ninth straight month of expansion.  Imports for the month rose 34.3 percent to $29.17 billion, he said.

Saregama has hit its previous intermediate top of about Rs 125. If it can cross Rs 125, then we start seeing another 60 point move which could take it to Rs 185-190, says Technical Analyst, Ashwani Gujral.

IIFL is bullish on Shoppers Stop and has recommended buy rating on the stock with a target of Rs 705, in its August 17, 2010 research report.

United Breweries touched a 52week high of Rs 373.90. At 12:33 hrs the share was quoting at Rs 363.70, up Rs 39.20, or 12.08%.

IIFL is bullish on Lanco Infratech and has recommended buy rating on the stock with a target of Rs 75, in its August 17, 2010 research report.

Financial Technologies group’s Singapore Mercantile Exchange today said it will start trading from August 31, 2010, launching contracts in gold, currency and crude oil futures initially.

SKS Microfinance is looking attractive, says Ambareesh Baliga of Karvy Stock Broking.

Gujarat Pipavav Port (GPPL), a developer and operator of APM Terminals Pipavav, is entering capital market with a public issue on August 23, 2010.

Buy Suzlon Energy at around Rs 4849, says Siddharth Bhamre, Angel Broking.

Expect small bounce in Sterlite Industries, says Siddharth Bhamre, Angel Broking.

Sesa Goa has support at Rs 310-305, says Siddharth Bhamre, Angel Broking.

Tata Steel-owned Corus on Tuesday said it will invest 185 million pound (Rs 1,355 crore) in the No 4 blast furnance at Port Talbot steelworks in Wales, that will increase capacity by 400,000 tonnes a year.

Technical analyst Sudarshan Sukhani of Technical Trends advises traders to buy Biocon and Inox. However, he has a sell call on Sun Pharma, Tata Steel and Infosys.

SR Industries has its Board of Directors meeting on August 21, 2010 to consider right issue to increase authorized share capital.

Limited upside in Raymond, says Ambareesh Baliga of Karvy Stock Broking.

Exit sugar stocks on upside, says Ambareesh Baliga of Karvy Stock Broking.

Jayesh Gandhi, Morgan Stanley Invst Mgmt is positive on residential real estate space.

Jindal Steel Power has acquired land to start USD 2.1 billion steel plant in Bolivia, reports The Economic Times.

Biocon has launched new healthcare division for critical illnesses and acute hospital acquired infections, reports CNBCTV18.

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