News Capsule (07 Sep 10)

The country’s tea exports fell by nearly 20 per cent to Rs 209.8 crore in July, according to data released by the Tea Board today.

Domestic institutional investors (DIIs) were net buyers of Rs 441.14 crore (provisional) today, according to data released by BSE.

Increased area under rain guarding and favourable weather conditions lifted India’s natural rubber production by nearly 12 per cent in August to 72,500 tonnes compared to the same month last year.

The Comptroller and Auditor General (CAG) has sent to the Oil Ministry part of its audit finding of the expenditure that Reliance Industries incurred in developing Krishna Godavari basin D6 gas field, which was at the centre of an inflated billing controversy.

As per IIFL research report Cement stocks have rallied 5-18% on reports that key Southbased players have raised prices by Rs 25-50/bag.

Radio Frequency (RF) cable manufacturer Shilpi Cable Technologies is planning to tap capital market for business expansion.

The Royal Bank of Scotland Plc as trustee of Jupiter India bought 3.4 lakh shares of Phillips Carbon Black at Rs 223.59 per share.

Buy Larsen and Toubro on dips, says Technical Analyst, Ashwani Gujral.

Expect 45-50% upside in JP Associates over the next 1824 months, says Phani Sekhar, Fund Manager, Angel Broking.

Man Industries has bagged order worth Rs 1,200 crore

Buy Excel Crop, Insecticides India, Rallis on declines, says Technical Analyst, Ashwani Gujral.

Buy Karur Vysya Bank on dips, says Technical Analyst, Ashwani Gujral.

Indiabulls Power has support at Rs 26, says Technical Analyst, Ashwani Gujral.

Uttam Galva can touch Rs 180185, says Technical Analyst, Ashwani Gujral.

Gujarat NRE Coke can touch Rs 85, says Technical Analyst, Ashwani Gujral.

Buy India Cements, says Technical Analyst, Ashwani Gujral

Ballarpur Industries can move upto Rs 52, says Technical Analyst, Ashwani Gujral.

Buy Gujarat Mineral Development Corporation (GMDC) with stoploss of Rs 128, says Technical Analyst, Ashwani Gujral.

Sunidhi Securities is bullish on Texmo Pipes and Products and has recommended buy rating on the stock with a target of Rs 70 in its September 7, 2010 research report.

Stay invested in Reliance Industries, says Phani Sekhar, Fund Manager, Angel Broking.

Buy cement stocks, says Phani Sekhar, Fund Manager, Angel Broking.

Stay with ICICI Bank, says Phani Sekhar, Fund Manager, Angel Broking.

Karur Vysya Bank at its meeting held on September 07, 2010 has approved bonus in the ratio of 2:5.

Emirates Telecommunication Corp., the Arab world’s second-largest telecom operator by market value, does not expect a deal with Reliance Communications in 2010, its international chief said on Tuesday.

China’s ICBC Leasing Co., a wholly-owned subsidiary of Industrial and Commercial Bank of China, has extended its agreement with India’s Genpact, a leader in business process and technology management.

Maruti Suzuki unveils new plant in Manesar, to invest $416 mnSuzuki chairman Osamu Suzuki said that Maruti would invest $416 million to build a new factory to meet growing local demand.

Gemini Communication at its meetings held on September 06, 2010 has declared dividend at Re 0.05 paise per share at the face value of Re 1 per share.

Karvy Stock Broking has downgraded Reliance Communications to under performer from market performer with a target of Rs 140, in its September 6, 2010 research report.

On September 6, 2010 Emerging India Focus Funds bought 67000 shares of Crew B.O.S. Products at Rs 134.28. Yesterday the share closed at Rs 133.50.

Fairwealth Securities is bullish on First Leasing Company of India and has recommended buy rating on the stock with a target of Rs 92 in its August 31, 2010 research report.

On September 6, 2010 Narsimha Shibroor Kamath sold 530000 shares of Bliss GVS Pharma at Rs 41.5 on the NSE. Yesterday the share closed at Rs 40.50.

Bank of Baroda has room to raise up to Rs 3,000-4,000 crore in FY11, Chairman and Managing Director M D Mallya told reporters on Tuesday.

Buy Wockhardt, says Gaurang Shah, Geojit BNP Paribas Financial Services.

Rana Sugars has sold carbon credits for Rs 11.3 crore

Hotel Leela Venture has target of Rs 62, says Gaurang Shah, Geojit BNP Paribas Financial Services.

Indraprastha Gas has target of Rs 376, says Gaurang Shah, Geojit BNP Paribas Financial Services.

Essel Propack has target of Rs 54.80, says Mitesh Thacker

State Bank of Travancore said on Tuesday it has raised its benchmark prime lending rate to 12.75 per cent from 12.50 per cent from September 3.

Back office provider Firstsource Solutions has clinched a five-year outsourcing agreement with Axis Bank, India’s third-largest private sector bank.

Etisalat considers Idea Cellular for India mobile expansion. “An acquisition in India would allow Etisalat to become ‘an active player’ in India”  outlined  Chairman Mohammed Omran.

Phillips Carbon Black has target of around Rs 270, says Siddharth Bhamre, Angel Broking.

Mphasis can move upto Rs 700, says Siddharth Bhamre, Angel Broking.

Buy Raymond on dips, says Technical Analyst, Sudarshan Sukhani.

See higher levels in tyre stocks, says Technical Analyst, Sudarshan Sukhani.

Multiplex operator PVR is targetting an around Rs 100 crore revenue from its bowling alley arm, PVR BLu O, by 2011-12, a top company official said.

ArcelorMittal, the world’s largest steelmaker, is in talks with Indiabulls Real Estate to form a joint venture to acquire iron ore and coal mines in India, the Economic Times reported on Tuesday.

The rupee today weakened by 5 paise to 46.59 a dollar in early trade as the US currency firmed up against other major world currencies.

BNP Paribas Securities said on Tuesday it had lowered its target price on India’s Reliance Communications to Rs 140 from Rs 175, while retaining its ‘reduce’ rating.

Asian stocks hovered near one-month highs on Tuesday as investors awaited Chinese data, while the euro took a hit after a newspaper report rekindled fears about the weakness of European banks.

The Foreign Institutional Investors (FIIs) were net buyers of Rs 3,859.94 crore in futures and options segments on Monday.

Leading paint manufacturer Kansai Nerolac Paints (KNPL) today said it plans to invest Rs 600 crore to enhance its production capacity by 50 per cent over the next three years.

Indian Oil Group firm Chennai Petroleum Corporation (CPCL) has lined up an investment of Rs 20,000 crore over the next five years for capacity expansion, a top company official said here today.

C K Birla Group firm Hyderabad Industries (HIL) today said it has signed a lease deed for acquiring a fibre cement sheets manufacturing facility in Saidpur, Punjab, for an undisclosed amount.

Gujarat NRE Coke has board meeting on September 10 to issue FCCB and Convertible warrants to promoters

Andhra Cement has allotted 31 lakh shares at Rs 24 per share to HDFC and IDFC against outstanding obligation

Kale Consultants has okayed to sell logistics operations to Kale Logistics

KEC International is going to buy SAE towers for USD 95 million

Invest in Hindalco Industries, says Technical Analyst, Sudarshan Sukhani.

Reliance Communications seeks shareholder nod to raise funds via QIP issue

Buy Geodesic on dips, says Technical Analyst, Sudarshan Sukhani.

Buy Uflex, says Technical Analyst, Sudarshan Sukhani.

Fairwealth Securities is bullish on Orient Ceramics and Industries and has recommended buy rating on the stock with a target of Rs 130 in its September 6, 2010 research report.

The Indian healthcare sector is expected to become a $280 billion industry by 2020 with spending on health estimated to grow 14 per cent annually, according to a report by industry chamber Ficci.

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