News Capsule (01 Sep 10)

Technical Analyst, Ashwani Gujral advices book some profit in Jet Airways.

Technical Analyst, Ashwani Gujral is of the view that Tata Steel can go upto Rs 550.

Technical Analyst, Ashwani Gujral is upbeat on Jubilant Foodworks.

Gateway Distriparks has its Board of Directors meeting on September 04, 2010 to consider payment of first interim dividend for the year 2010-11.

Foreign institutional investors (FIIs) were net buyers of Rs 359.81 crore (provisional) today, according to data released by BSE.

Bharti Airtel today said its shareholders have given their consent to pay a final dividend of Rs 1 per share on the face value of Rs 5 each.

Firstcall Research is bullish on Gati and has recommended buy rating on the stock with a target of Rs 90 in its August 27, 2010 research report.

Tata Chemicals plans to invest Rs500 million to set up a new water purifier-making plant in 2010-11, a top official said on Wednesday.

Som Distilleries Breweries at its meeting held on September 01, 2010 has declared dividend at 5% i.e Re 0.50 per share of Rs 10 for the year 2009-10.

Mold Tek Technologies at its meeting held on September 01, 2010 has declared dividend at 15% i.e Rs 1.50 per share for the year ended March 31, 2010.

AdManum Finance at its meeting held on August 31, 2010 has declared dividend at 10% on shares i.e Re 1/shares for the year ended on March 31, 2010.

On August 31, 2010 Highpoint Trading Company Private Ltd bought 200,000 lakh shares of Vakrangee Software at Rs 199.97 and Morgan Stanley Mauritius Company Limited sold 182,898 shares at Rs 200 on the BSE.

TATA Motors’ total passenger vehicles sales in the domestic market stood at 25,196 units in August against 17,364 units in the same month last year, a jump of 45.10 per cent, the company said in a statement.

Mahindra and Mahindra (MM) is looking safe, says Rajesh Jain, Independent Market Strategist.

Invest in Mahindra and Mahindra (MM) at around Rs 600, says Mitesh Thacker, Technical Analyst

Reliance Industries may slip to Rs 875, says Mitesh Thacker, Technical Analyst

Carmaker Ford India today reported a three-fold jump in August sales at 7,925 units on the back of its latest small car Figo, which is getting a good response.

Fortis Healthcare Ltd will list its diagnostics business unit Super Religare Laboratories (SRL) in 2011, Chairman Malvinder Singh told reporters on Wednesday. SRL had acquired diagnostics business of Piramal Healthcare for Rs 600 crore in April-June.

Engaged in textile activities, Mohit Industries Ltd has placed orders of two DTY (polyester textile yarn) machines for Rs 2.1 crore. Out of these machines, one is already installed and the second one will be installed in next 15 days.

Two-wheeler maker Suzuki Motorcycle India today reported a 50.78 per cent growth in sales for August at 19,314 units compared to 12,809 units in the same month last year.

Power utility JSW Energy’s four Maharashtra power units and six Rajasthan ones are expected to be operational by March 2011. To augment raw material supplies, the firm, which had acquired a majority stake in South African Coal Mining Holding in April, is on the lookout for more coal mines.

Buy Reliance Industries, says Prabhat Awasthi, Head of Equity Research MD, India, Nomura Financial Advisories.

In an interview to CNBCTV18, Prabhat Awasthi, MD India and Head of Equity Research, Nomura Financial Advisories said that Indian market has a risk of FII outflow.

Regulators have warned the US unit of Indian drugmaker Sun Pharmaceutical about manufacturing problems uncovered at a plant in New Jersey, a letter released on Tuesday said.

Bajaj Electricals said on Wednesday it has won orders worth Rs 4.08 billion for rural electrification and street lightings, sending its shares up as much as 6.6 percent.

The country’s largest car maker Maruti Suzuki India today reported its highest ever monthly sales at 1,04,791 units in August, registering 23.56 per cent jump over the year-ago period.

Tata Communications today said it has opened a data centre in Singapore to meet the growing IT outsourcing needs of enterprises.

Australia’s economy surged 1.2 percent in the June quarter and 3.3 percent over the year, smashing analyst forecasts, figures showed Wednesday, sending share prices and the local dollar higher.

Kingfisher Airlines will immediately seek to raise up to USD 250 million by way of GDR

The Indian rupee opened at Rs 46.92 per dollar versus Rs 47.07 yesterday.

Buy Apollo Tyres, says Technical Analyst, Sudarshan Sukhani.

Buy Indian Hotels on dips, says Technical Analyst, Sudarshan Sukhani.

The government will start allotting third generation (3G) spectrum from Wednesday to successful bidders, including Bharti Airtel, Reliance Communications and Vodafone Essar, among others. A senior DoT official, said the allotment of 3G spectrum will start on Wednesday.

TVS Motor said on Wednesday total vehicle sales in August rose 34 per cent to 170,735 units.

Buy Dabur future at around Rs 210, says VK Sharma, HDFC Securities.

Avoid telecom space, says Technical Analyst, Sudarshan Sukhani.

Correction possible in aviation stocks, says Technical Analyst, Sudarshan Sukhani.

Auto stocks continue to outperform, says Technical Analyst, Sudarshan Sukhani.

Buy Sun TV, says Technical Analyst, Sudarshan Sukhani.

Nirmal Bang has come out with a premarket research report. The broking firm says, immediate support for Nifty is seen at 5,350 and resistance at 5,460.

Asian markets are trading in the green on back of positive cues from wall street.

Coffee exports from India has registered a 56 per cent rise to 204, 519 tonne during January- August period of this year against 130,672 tonne exported during the corresponding period last year on the back of sound demand growth from European economies like Italy and Germany.

The government on Tuesday raised the minimum price for exporting onion by $55 to an average of $275 a tonne for September to step up availability of the commodity in domestic markets.

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