News Capsule (23 Aug 10)

Foreign institutional investors (FIIs) were net buyers of Rs 318.23 crore (provisional) today, according to data released by BSE.

JRG Securities is bullish on Ahluwalia Contracts India and has recommended buy rating on the stock with a target of Rs 258, in its August 23, 2010 research report.

Technical Analyst, Sudarshan Sukhani is of the view that one can buy Apollo Tyres on correction.

Technical Analyst, Sudarshan Sukhani is upbeat on Biocon, Wockhardt.

Sadbhav Infrastructure Project (SIPL) today said it has entered into a binding agreement to receive Rs 400 crore from the two global investors, Norwest Venture Partners (NVP) and The Xander Group (Xander).

Godrej Agrovet (GAVL), the agri- business arm of the Godrej group, is eyeing two-fold growth of its oil palm plantation business in the next 2-3 years, a top company official said.

Anil Ambani-group firm Reliance Energy today said it added 23,071 consumers across categories in the June quarter, of which 17,970 were retail customers.

Tata Group’s retail venture Trent that operates Westside, plans to invest around Rs 275-crore over the next three-years in its hypermarket format Star Bazaar, a top company official said.

Buy Wipro in case it is trading around Rs 385-380 and on that additional quantity, with 23% kind of stop loss that is the level where the risk reward is very favourable, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Buy Suzlon Energy at lower levels, says Satish Betadpur of IIR Group.

Hold Tata Steel, says VK Sharma of HDFC Securities.

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

ARSS Infrastructure Projects today said it has bagged an order worth Rs 103.65 crore from the National Highways, Orissa.

ITI has bagged orders worth Rs 270 crore from BSNL

Atlas Cycles at its meeting held on August 20, 2010 has declared dividend at Rs 4.50 per share i.e 45% for the year ended March 31, 2010.

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

PM Manmohan Singh today assured the Orissa govt of faster clearances to Posco steel project and Vedanta bauxite mining, chief minister Naveen Patnaik said.

Buy ILandFS Investment Managers says Technical Analyst, Sudarshan Sukhani.

Keep Mahindra and Mahindra in portfolio, says Satish Betadpur of IIR Group.

HDFC is a safe stock to keep in the portfolio, says Satish Betadpur of IIR Group.

Tata Global Beverages (previously known as Tata Tea) is likely to expand its range of products. Its chairman Ratan Tata has said that the beverage company is likely to foray into foods business

Stay with ACC for long term, says VK Sharma of HDFC Securities.

Cipla Ltd has informed BSE that a meeting of the board of directors of the company will be held on August 25 to consider special interim dividend for the financial year 2010-2011 to commemorate 75th anniversary of the company.

Gujarat Pipavav has raised about Rs 92.3 crore ($20 million) from anchor investors as part of an initial public offering to raise as much as $107 million.

Shri Lakshmi Cotsyn has its Board of Directors meeting on August 30, 2010 to consider and approve the audited accounts share warrants.

Eldeco Housing Industries at its meeting held on August 21, 2010 has declared dividend at 10% per shares for the financial year 20092010.

Acknit Ind at its meeting held on August 20, 2010 has declared dividend at 15% i.e Rs 1.50 per share for the year ended March 31, 2010.

Wockhardt has resistance closer to Rs 293, says Technical Analyst, Ashwani Gujral.

The rupee today appreciated by 5 paise to 46.62 a dollar at the Interbank Foreign Exchange market in early trade on capital inflows by foreign funds.

Larsen and Toubro (LT) has bagged order worth Rs 1,195 crore from ONGC

ARSS Infrastructure Projects has bagged order worth Rs 104 crore

Shree Renuka Sugars can touch Rs 75-80, says Rajesh Jain, Independent Mkt Strategist.

Ambuja Cements can move upto Rs 135, says Rajesh Jain, Independent Mkt Strategist.

Tata Global Beverage can test Rs 120, says Rajesh Jain, Independent Mkt Strategist.

SpiceJet has target of RS 77, says Aashish Tater, Fort Share Broking.

Empee Distilleries has target of Rs 170, says Aashish Tater, Fort Share Broking.

Hikal has target of Rs 456, says Aashish Tater, Fort Share Broking.

IndSwift Laboratories has target of Rs 102, says Aashish Tater, Fort Share Broking.

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