News Capsule (06 Sep 10)

ArcelorMittal, the world’s largest steel-maker, is in discussions with Indiabulls Group to form a joint venture company for scouting and mining iron ore in Rajasthan and setting up a steel plant.

Film exhibitor, producer and distributor PVR Ltd today said it expects to close a deal to sell its property at Phoenix Mills in Mumbai by March next year, which could fetch it up to Rs 100 crore.

Foreign institutional investors (FIIs) were net buyers of Rs 946.53 crore (provisional) today, according to data released by BSE.

Software firm Prism Informatics today said it will buy a majority stake in the Saudi Arabia-based Al Suwaidi Holding for an undisclosed sum.

The world’s largest bicycle maker, Hero Cycles, on Monday said it plans to enter the US market by the end of this year, for which it is close to signing up with a local partner.

Angel Broking is bullish on Phillips Carbon Black and has recommended buy rating on the stock with a target of Rs 270 in its September 3, 2010 research report.

Raymonds can go upto Rs 450, says Technical Analyst, Ashwani Gujral.

Ceat can go upto Rs 275-280, says Technical Analyst, Ashwani Gujral.

Sistema Shyam Teleservices, the Indian arm of Russia’s Sistema, will decide on an initial public offer (IPO) in India by end-2010, a top official said on Monday.

The oil ministry will take a decision on whether to approve Vedanta Resources’ deal for control in Cairn India in four to six weeks, Oil Minister Murli Deora said on Monday.

Networth Stock Broking is bullish on KSK Energy Ventures and has recommended buy rating on the stock with a target of Rs 214 in its September 6, 2010 research report.

Angel Broking is bullish on PVR and has recommended buy rating on the stock with a target of Rs 226 in its September 3, 2010 research report.

The Asian Development Bank (ADB) wants to exit Petronet LNG Ltd and has offered to sell its 5.2 per cent stake in the country’s largest liquefied natural gas importer to state-owned oil firms IOC, ONGC, GAIL and BPCL.

State-run Power Finance Corp top brass is conducting roadshows in Japan and China to raise $240 million (Rs 1,180 crore) through foreign loans in these markets for funding power projects in India.

LIC housing finance has applied for a license with the Pension Fund Regulatory Authority (PFRDA) to act as an aggregator under the National Pension System (NPS)- Lite, the company said in a notification to the Bombay Stock Exchange.

Bharti Airtel has target of Rs 400, says Technical Analyst, Sudarshan Sukhani.

Jagran Prakashan can achieve Rs 155-156, says Bhavin Shah, CEO of Equirus Securities.

Unitech may touch Rs 100, says Technical Analyst, Sudarshan Sukhani.

Adani Power has target of Rs 169, says Bhavin Shah, CEO of Equirus Securities.

Allied Digital at its meeting held on September 03, 2010 has declared dividend at 20% i:e Re 1 per shares of Rs 5 each.

Hold Jindal Steel Power, says Satish Betadpur of IIR Group.

LKP Shares has maintained an outperformer rating on Exide Industries with a target of Rs 192 in its September 6, 2010 research report.

Mahindra Satyam has target of Rs 100, says Satish Betadpur of IIR Group.

Unitech can reach Rs 90, says Satish Betadpur of IIR Group.

Two Anil Ambani group companies, Reliance Power and Reliance Natural Resources, on Monday said their respective shareholders have approved merger between the two entities, estimated to create a Rs 50,000-crore entity.

Cera Sanitaryware at its meeting held on September 06, 2010 has approved bonus shares in the ratio of 1:1.

State-run Indian Oil Corp shut a 120,000 barrel per day (bpd) crude unit at its northern India refinery late on Sunday for 45 days to boost capacity 25 per cent, its head of refineries B N Bankapur said on Monday.

KEC International may acquire US based SAE Tower for around USD 100-120 million.

Unity Infra has bagged order worth Rs 74.54 crore for the Project of ‘Construction of Hostel  at IIT Powai.

Drugmaker Aurobindo Pharma on Monday said it has entered into licensing and supply agreements with London-based pharmaceutical giant AstraZeneca to supply several solid dosage and sterile products for emerging markets.

Apollo Tyres: Sharekhan has raised their consolidated EPS estimate for FY2012 by 32% to Rs13.3. Their price target of Rs103 per share reflects a price/earnings of 7.7 times FY2012E earnings. Sharekhan maintains Buy recommendation with an upside objective of 25.7% in one year.

Karvy Stock Broking is bullish on Dr Reddys Laboratories and has recommended buy rating on the stock with a target of Rs 1775 in its September 3, 2010 research report.

Anik Industries at its meeting held on September 03, 2010 has declared dividend at 6% on shares of the company.

Clutch Auto has settled its dispute with one of its key patrons Tata Motors, informs its vice chairman and managing director Vijay Kishan Mehta.

Karvy Stock Broking is bullish on Dr Reddys Laboratories and has recommended buy rating on the stock with a target of Rs 1775 in its September 3, 2010 research report.

JVL Agro Industries board has approved stock split in 10:1 ratio

IIFL is bullish on Bharti Airtel and has recommended buy rating on the stock with a target of Rs 355 in its September 6, 2010 research report.

Hotel Leela Venture can test Rs 60-64, says Mitesh Thacker

Kilburn Engineering has target of Rs 82, says Mitesh Thacker

IIFL is bullish on Hindustan Unilever and has recommended buy rating on the stock with a target of Rs 297 in its September 6, 2010 research report.

Hotel Leela Venture has target of Rs 60, says Gaurang Shah, Geojit BNP Paribas Financial Services

Dish TV has target of Rs 58, says Gaurang Shah, Geojit BNP Paribas Financial Services.

Anik Industries at its meeting held on September 03, 2010 has declared dividend at 6% on shares of the company.

Gateway Distriparks at its meeting held on September 04, 2010 has declared dividend at 10% i.e Re 1/share of Rs 10 each for the financial year 2010.

Keep Rs 29 stoploss in Nagarjuna Fertilisers, says K Anant Rao, Kurtosis Analytics Advisors.

K S Oils Limited at its meeting held on September 04, 2010 has declared dividend at 18% i.e Re 0.18 per share for the year ended on March 31, 2010.

Buy PSU banks on dip, says K Anant Rao, Kurtosis Analytics Advisors.

Mobile Tele Communications at its meeting held on September 03, 2010 has declared dividend at 5% on shares of Re 1 each.

Tanla at its meeting held on September 05, 2010 has declared dividend at Re 0.10/share of face value Re 1 each for the year ended on March 31 2010.

Koutons Retail India at its meeting held on September 04, 2010 has declared dividend at 2% on the face value of the shares for the F.Y. 2009-10.

Hindalco can move upto Rs 182-184, says Anu Jain, IIFL Private Wealth Management at India Infoline.

K S Oils Limited at its meeting held on September 04, 2010 has declared dividend at 18% i.e Re 0.18 per share for the year ended on March 31, 2010.

Oman and India today agreed to deepen their trade and investment partnership, including investing about $3 billion by Muscat for revival of fertilisers plants in India.

Business Line recommends: ‘Investors with medium-term perspective can consider buying the stock of Usha Martin (Rs 88.5).

Aurobindo Pharma Ltd said on Monday it has signed licensing and supply agreements with AstraZeneca to supply finished dosage products to emerging markets.

Anant Raj Industries has acquired Jubilant Software Pvt. Ltd. for Rs 81 crore

Jindal Poly Films has approved bonus issue in the ratio of 1:1 and fund raising of Rs 2000 crore via equity

Zee Entertainment can test Rs 295-296, says Anu Jain, IIFL Private Wealth Management at India Infoline.

Sujana Towers has bagged order worth Rs 148.3 crore

The Indian rupee opened at Rs 46.55 per dollar versus Rs 46.63 Friday.

Buy State Bank of India (SBI) on dips, says Anu Jain, IIFL Private Wealth Management at India Infoline.

Keep Rs 60 stoploss in Kingfisher Airlines, says Anu Jain, IIFL Private Wealth Management at India Infoline.

Buy Television Eighteen (TV 18) on dips, says Anu Jain, IIFL Private Wealth Management at India Infoline.

Firodia Group has big plans for its two companies CVmaker Force Motors and componentmaker Kinetic Engineering. The company is investing over Rs 2,000 crore for expansion in both listed entities in the next three to four years and says that promoters will not be averse to selling stake to raise funds if required.

Suzuki Motor Corp is planning to build a new factory in India capable of producing more than 250,000 vehicles a year, the Nikkei business daily reported on Sunday.

Nirmal Bang has come out with a premarket research report. The broking firm says, resistance for Nifty continues to be in the range of 5,530-5,555.

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