News Capsule (18 Aug 10)

MIC Electronics Limited,global leader in design, development manufacturing of LED Video displays high end Electronic Telecommunication equipment has secured 17 different orders collectively worth Rs 18.63 cr from the Indian Railways in the second quarter of FY 2010-11 till date.

The government on Wednesday said foreign direct investment inflows in the services sector in 2009-10 dipped by 28.19 per cent to USD 4.39 billion.

Foreign institutional investors (FIIs) were net buyers of Rs 674.52 crore (provisional) today, according to data released by BSE.

Oil and Natural Gas Corp (ONGC) may seek management control of the giant Rajasthan oilfields in lieu of allowing UK’s Cairn Energy to sell majority stake in its Indian arm that now operates the field, to a non-oil firm, Vedanta Resources for $8.48 billion.

The $7.1 billion Mahindra Group, one of Indias leading business houses, today revealed its plans to launch new models to augment its presence in the automobile market in Sri Lanka.

Technical Analyst, Vijay Bhambwani is of the view that Tata Motors can touch Rs 1240.

Eros Group on Wednesday said it will invest about Rs 650 crore to develop an affordable housing project in Greater Noida.

Gillette India at its meeting held on August 18, 2010 has declared dividend of Rs 15 per equity share for the year ended June 30, 2010.

Govind Poy Oxygen at its meeting held on August 07, 2010 has declared dividend at 15% for the year ended March 31, 2010.

MVL at its meeting held on August 18, 2010 has decided to acquire majority stake in a telecom company namely MVL Telecom.

Twin Roses Trades Agencies has its Board of Directors meeting on September 02, 2010 to consider and approve the audited annual accounts dividend.

Varun Mercantile has its Board of Directors meeting on September 02, 2010 to consider and approve the audited annual accounts dividend.

Nexxoft Infotel has its Board of Directors meeting on September 01, 2010 to consider and approve the audited annual accounts dividend.

Technical Analyst, Vijay Bhambwani is of the view that Tata Motors can touch Rs 1240.

Technical Analyst, Vijay Bhambwani is of the view that one can buy Tata Chemicals at around Rs 383-385.

Shares of Bajaj Corp, one of India’s leading producers of hair oils, witnessed good buying interest on its debut on expected lines.

Anil Ambani Group’s life insurance venture Reliance Life has registered a 33 per cent rise in its total premium income to Rs 1,201 crore for the quarter ended June this fiscal.

Personal computer sales in India touched 23.7 lakh units during April-June 2010, recording a 34 per cent year-on-year growth, consulting firm IDC India said today.

British Airways and Kingfisher Airlines, are likely to announce a codeshare agreement next month which would facilitate seamless travel for passengers, who can also enjoy benefits while travelling on each other’s networks.

Budget carrier IndiGo has received the government’s nod to buy 150 aircraft over the next 2 to 3 years as it looks to fly international routes, a company executive said on Wednesday.

Buy Patni Computer Systems, says Harmendra Gandhi, Research Analyst, Nomura.

Mphasis has target of Rs 760, says Harmendra Gandhi, Research Analyst, Nomura.

India Capital Markets is bullish on Allcargo Global Logistics and has recommended buy rating on the stock with a target of Rs 204, in its August 18, 2010 research report.

There was a block deal of 53 lakh Tulip Telecom shares on BSE at Rs 180 per share

There was a block deal of 43.5 lakh Thomas Cook shares on BSE at Rs 62 per share

Stay with SBI, says Rajesh Jain, Independent Market Strategist.

Stay invested in Sterlite Industries, says Rajesh Jain, Independent Market Strategist.

GKB Ophthalmics has its Board of Directors meeting on August 31, 2010 to consider and approve the audited annual accounts dividend.

Hold SKS Microfinance, says Rajesh Jain, Independent Market Strategist.

Tantia Constructions has bagged order worth Rs 50 crore from Metro Railway, Kolkata for Execution of Civil Engineering Works of PSC.

Diamond Power has its Board of Directors meeting on August 31, 2010 to consider and approve the audited annual accounts dividend.

Kemrock Industries has its Board of Directors meeting on August 31, 2010 to consider and approve the audited annual accounts dividend.

Karvy Stock Broking has recommended an outperformer rating KPIT Cummins Infosystems with a target of Rs 210, in its August 17, 2010 research report.

JRG Securities is bullish on Gayatri Projects and has recommended buy rating on the stock with a target of Rs 544, in its August 17, 2010 research report

Angel Broking has recommended accumulate rating on Allcargo Global Logistics with a target of Rs 195, in its August 16, 2010 research report.

IIFL is bullish on TV Today Network and has recommended buy rating on the stock with a target of Rs 100, in its August 18, 2010.

IIFL is bullish on Oil India and has recommended buy rating on the stock with a target of Rs 1510, in its August 18, 2010.

Orbit Corporation can test Rs 150-152, says Hemant Thukral, Asian Markets Securities.

Fortis Health can move upto Rs 170-175, says Hemant Thukral, Asian Markets Securities.

Shares of Cairn India Ltd were up 1.24 per cent at Rs 342.60 on the National Stock Exchange, after Vedanta and Sesa Goa made an open offer to acquire 20 per cent from the open market.

Indiabulls Finacial Services today zoomed by nearly 6 per cent on the Bombay Stock Exchange amid reports that the company is close to selling its 26 per cent stake in Indian Commodity Exchange (ICEX) to an ADAG firm.

The rupee today depreciated by 2 paise against the dollar in early trade as the US currency strengthened against major world currencies.

Time Technoplast is eyeing 2 more acquisition overseas this fiscal, reports DNA.

Madhucon Projects is going to start mining at Sumatra block in 23 months, reports DNA.

MindTree is in talks to raise billing rates, reports DNA.

Accord Capital Markets Ltd sold 200,000 shares of Surana Telecom at Rs 19.62 on the BSE, Corum Securities Pvt. Ltd. sold 200,000 shares at Rs 19.65 on the NSE and Pilot Consultants Private Limited sold 195,778 shares at Rs 20.48 on the NSE. Yesterday it closed at Rs 21.10.

Shares of Bajaj Corp Ltd listed at Rs 760 on the National Stock Exchange, a premium of Rs 100 or over 15 per cent.

The Malaysian High Court in Kuala Lumpur on Tuesday ruled that a local firm, Faiza Sdn Bhd, should not use the ‘Ponni’ label for its rice products, on an application by the Agricultural and Processed Food Products Export Development

Gandhinagar Hotels  said it has entered into a tie-up with ITC’s Fortune chain of hotels for assistance in marketing and operations.

BPCL can go up to Rs 720, says Technical Analyst, Ashwani Gujral.

Trent can touch Rs 1400-1450, says Technical Analyst, Ashwani Gujral.

Suzlon Energy may slip to Rs 3738, says Technical Analyst, Ashwani Gujral.

Gujarat Pipavav Port issue will be opening for subscription on August 23, 2010.

Merrill Lynch Capital Markets Espana Sa Sv bought 1,156,400 shares of Bank of Rajasthan at Rs 201 on the NSE. Yesterday the stock closed at Rs 200.75.

HCC may correct to Rs 55, says Technical Analyst, Ashwani Gujral.

Buy Indian Overseas Bank, says Technical Analyst, Ashwani Gujral.

Buy Canara Bank with stoploss of Rs 496, says Technical Analyst, Ashwani Gujral.

Buy OnMobile Global, says Technical Analyst, Ashwani Gujral.

Bajaj Corp will be listing its shares on exchanges today and has fixed issue price at Rs 660 per share.

Ethanol manufacturers and sugar mills yesterday welcomed the Union cabinets approval for five per cent blending of petrol with ethanol and said they were prepared to meet the oil marketing companies (OMCs) requirement of 1,044.5 million litres (of ethanol) between September 1 and August 31 next year.

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