News Capsule (27 Aug 10)

Motilal Oswal is bullish on Cummins India and has recommended buy rating on the stock with a target of Rs 840, in its August 25, 2010 research report.

India’s iron ore exports in the first four months of the current financial year that began in April was at 32.86 million tonnes against 31.39 million tonnes a year ago, data released by a trade body on Friday showed.

Lumax Industries plans to set up two automotive lighting plants in two years, Senior Executive Director Anmol Jain told reporters on Friday.

Auto components maker Jamna Auto today said it will invest Rs 200 crore to set up new facilities and expand the existing ones to enhance its capacity by over 70 per cent in the next two years.

KRChoksey is bullish on Sterlite Industries and has recommended buy rating on the stock with a target of Rs 210, in its August 26, 2010 research report.

Technical Analyst, Ashwani Gujral is of the view that Eicher Motors has target of Rs 1300.

Technical Analyst, Ashwani Gujral is of the view that IndusInd Bank can go upto Rs 253.

Technical Analyst, Ashwani Gujral is of the view that Punj Lloyd may slip to Rs 98.

Technical Analyst, Ashwani Gujral is of the view that one can sell Everest Kanto with a stop of Rs 115.

Technical Analyst, Ashwani Gujral is of the view that Jyoti Structures can go upto Rs 160-165.

Technical Analyst, Ashwani Gujral is of the view that DLF may slip to Rs 285-290.

Indiabulls Financial Services, one of India’s leading nonbanking financial companies (NBFCs), raised Rs 1,280 crore through a qualified institutional placement (QIP) of nonconvertible debentures (NCDs) and warrants.

Godrej Properties, a part of the $2.5 billion Godrej group, will raise up to Rs 1,000 crore of debt through qualified institutional placement (QIP) in the next 18 to 24 months, Group Chairman Adi Godrej said today.

Sources indicate that British Telecom is likely to slash its financial year 2011 global information technology (IT) budget by 50% to USD 500 million and reduce rates by as much as 910%. The move could impact IT companies including Infosys and Tech Mahindra negatively.

Tata Power Ltd, is in talks to buy a 50% stake in US based power utility InterGen NV for USD 1 billion to USD 1.2 billion, a source with direct knowledge of the situation said on Thursday.

NTPC, may set up a thermal power project at Gadarwara, in Madhya Pradesh, a source in-the-know of the development said.

Eyeing business potential in the fast growing telecom sector, footwear major Liberty group has tied up with Israel-based Runcom Technologies to offer WiMax mobile broadband and communication services.

Larsen & Toubro Ltd, India’s top engineering and construction company, plans to foray into the banking sector when laws allow the entry of new private players, chairman A M Naik said on Thursday.

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