News Capsule (08 Sep 10)

Foreign institutional investors (FIIs) were net buyers of Rs 281.96 crore (provisional) today, according to data released by BSE

On September 7 Cavaal Fininvest Pvt Ltd bought 7,500,000 shares of Piramal Health at Rs 511 on the BSE.

Nectar Lifesciences (NecLife) today got an approval from Korean Food and Drug Administration (KFDA) for Cefuroxime Axetil (Amorphous). The company expects business potential worth $10 billion in South Korea for the approved molecule.

The Bombay High Court has dismissed Vodafone petition challenging the show cause notice issued by income tax department asking them to pay over $2 billion tax on the multi-crore Hutchinson takeover deal.

The gold prices surpassed all previous records as they spurted by Rs 145 to Rs 19,470 per ten grams, on increased buying by jewellers and retailers to accomodate the seasonal demand for upcoming festival and marriage season beginning next month.

Mercator Lines has target of Rs 70, says Shardul Kulkarni of Angel Broking.

Umang Vincom Private Limited sold 3 lakh shares of Jai Balaji Industries at Rs 269.06 per share. At 15:21 hours the share was trading at Rs 271.10, down Rs 3.95, or 1.44%.

Arihant Capital Market is bullish on Polaris Software Lab and has recommended buy rating on the stock with a target of Rs 242 in its August 25, 2010 research report.

Remi Process Plant Machinery at its meeting held on May 21, 2010 has declared dividend at 10% i:e Re 1 per share for the financial year 2009-10.

Bajaj Hindusthan has approved the Scheme of Amalgamation of Bajaj Hindusthan Sugar and Industries Limited with Bajaj Hindusthan Limited.

Exit Wockhardt at around Rs 320, says Technical Analyst, Vijay Bhambwani.

Asahi Infrastructure Projects has bagged order worth Rs 29.50 crore for NH 7 and NH 17.

Finaventure Capital at its meeting held on June 24, 2010 has declared dividend of Re 0.10 per share.

Balrampur Chini Mills has support at Rs 88, says Technical Analyst, Vijay Bhambwani.

Astra Microwave Products has target of Rs 71.5, says Mitesh Thacker

MM Financials Services has target of Rs 660, says Mitesh Thacker

Buy Jindal Steel Power, says Gaurang Shah, Geojit BNP Paribas Financial Services.

On September 7 The Royal Bank Of Scotland N.v. sold 700,000 shares of Silverline Animation Technologies at Rs 21.25. Yesterday it closed at Rs 20.90.

A manufacturer of polycrystalline solar photovoltaic cells Indosolar is entering capital market with a public issue of Rs 357 crore on September 13, 2010.

Abbott India has completed acquisition of Piramal Healthcare Solution

On September 7 Cavaal Fininvest Pvt Ltd bought 7,500,000 shares of Piramal Health at Rs 511 on the BSE. The Swastik Safe Deposit Investments Limited sold 7,500,000 shares at Rs 511. Yesterday the share closed at Rs 510.45.

On September 7 Rare Enterprises bought 1,250,000 shares of KRBL at Rs 29.61 on the NSE. Yesterday it closed at Rs 30.35.

Mahindra Mahindra Financial Services has target of Rs 655, says Jagannadham Thunuguntla, SMC Global Securities.

Suven Life Sciences has got 8th product patent in Australia, Mexico

Jyotivardhan Jaipuria, Head of Research, BoA Merrill Lynch is positive on aviation space.

Buy DLF 320 put, says VK Sharma of HDFC Securities.

Subodh Kant Sahai, minister for food processing industries, has called upon Canadian companies to invest in the fast growing sector of the Indian economy.

Build long positions in Tata Steel on dips, says VK Sharma of HDFC Securities.

Buy Shree Renuka Sugars 75 call, says VK Sharma of HDFC Securities.

Buy Infosys Technologies 2900 call, says VK Sharma of HDFC Securities.

Sell LIC Housing futures, says VK Sharma of HDFC Securities.

Buy Century Textiles 520 call, says VK Sharma of HDFC Securities.

Buy Infosys Technologies 2900 call, says VK Sharma of HDFC Securities.

Prefer Grasim Industries, says VK Sharma of HDFC Securities.

According to data released by the telecom regulator, the wireless subscriber base increased from 635.51 million in June to 652.42 million by the end of July, 2010, registering a growth of 2.66 per cent.

Stay away from Reliance Industries, says Technical Analyst, Sudarshan Sukhani.

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

Mercator Lines has drawn up a $500-million capex plan for expansion in coal sector and offshore activities, subject to contracts it receives, a top executive said.

The Reserve Bank of India (RBI) deputy governor Usha Thorat said on Wednesday deregulation of savings bank deposit rate was on the bank’s radar.

US has said it is looking at India to see what changes can be made in certain provisions in the Nuclear Liability Bill, which was recently passed by the Parliament.

Sun Pharmaceutical Industries Ltd said Israel Supreme court lifts injunction to permit the closing of the offer for Taro. The court also awarded company expenses.

The Foreign Institutional Investors (FIIs) were net buyers of Rs 2,216.15 crore in futures and options segments on Tuesday.

India’s savings in shares and debentures are expected to exceed $50 billion by 2020 from $13 billion in 2008, a research study said.

Public sector lender Bank of Baroda (BoB) says it has the scope to raise up to Rs 4,000-crore capital in the current fiscal.

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