News Capsule (13 Sep 10)

S Kumars Nationwide Ltd has launched a share sale to institutions to raise up to $50 million, two sources with direct knowledge of the matter said on Monday.

The rupee retreated from a one-month high on Monday as importers and oil firms bought dollars after firm global data pushed shares higher and stirred a risk rally across markets.

HCL Infosystems today said it has bagged a contract worth Rs 100 crore from Himachal Pradesh for providing data and IT applications for energy accounting/auditing and IT-based consumer service centres.

India today signed a $72.55 million line of credit agreement with Laos for hydropower projects as part of New Delhi’s efforts to step up its presence in this ASEAN country.

Indian multiplex operator PVR Ltd on Monday said it was evaluating proposals to acquire a cinema chain in the country, a top official said.

MVL has recommended subdivision of the face value of the shares from existing Rs 2 into 2 shares of face value of Re 1 each.

Titan Biotech at its meeting held on September 06, 2010 has declared dividend at 5% on shares i.e Re 0.50 per share for the year 200910.

Asian Hotels (East) at its meeting held on August 04, 2010 has declared dividend at 30% i.e Rs 3 per share.

ICICI Securities is bullish on Corporation Bank and has recommended buy rating on the stock in its September 13, 2010 research report.

ICICI Securities is bullish on Steel Authority of India and has recommended buy rating on the stock with a target of Rs 270 in its September 13, 2010 research report.

ICICI Securities is bullish on State Bank of India and has recommended buy rating on the stock in its September 13, 2010 research report.

Hem Securities is bullish on Royal Orchid Hotels and has recommended buy rating on the stock with a target of Rs 130 in its September 13, 2010 research report.

Asit C. Mehta has recommended hold rating on Apollo Tyres with a target of Rs 89 in its September 13, 2010 research report.

IIFL is bearish on Maruti Suzuki India and has recommended reduce rating on the stock in its September 13, 2010 research report.

VIP Industries can test Rs 600 says Technical Analyst, Ashwani Gujral.

Nirmal Bang is bullish on Cadila Healthcare and has recommended buy rating on the stock with a target of Rs 790 in its September 13, 2010 research report.

HDFC Securities is bullish on SPML Infra and has recommended buy rating on the stock with a target of Rs 290 in its September 6, 2010 research report.

Tata Teleservices has become the fourth largest operator in terms of wireless subscribers with nearly 77 million users and has overtaken state owned BSNL.

Kalpataru Power Transmission (KPTL) today said that it has secured three orders worth over Rs 550 crore from the Kenya Electricity Transmission Company (KETRACO) and Parbati Koldam Transmission Company.

Foodgrain stocks held in government godowns amounted to 50.2 million tonnes at the start of the current month, according to the latest data from the Food Corporation of India.

Kale Consultants said on Friday its promoters have agreed to sell 35.61 percent stake to Spanish firm Accelya Holding World S.L.

Firstcall Research is bullish on Patel Engineering Company and has recommended buy rating on the stock with a target of Rs 451 in its September 6, 2010 research report.

Firstcall Research is bullish on Lupin and has recommended buy rating on the stock with a target of Rs 425.50 in its September 9, 2010 research report.

Coromandel International Ltd said on Monday it has entered into a licence agreement with Shell Research Ltd, an affiliate of Royal Dutch Shell Plc, for manufacturing sulphurenhanced fertilisers.

IIFL is bullish on Core Projects Technologies and has recommended buy rating on the stock with a target of Rs 321 in its September 13, 2010 research report.

IIFL is bullish on Infrastructure Development Finance Company (IDFC) and has recommended buy rating on the stock with a target of Rs 198 in its September 13, 2010 research report.

Alstom Projects jumped nearly 5% after the company signed a 243 million euro contract to supply coaches to the Chennai Metro Rail project

IFGL Refractory has acquired 2 US based co for USD 13 million

Brigade Enterprises is going to sell Bangalore hospital building for Rs 123 crore

Reliance Capital Asset Management has increased its exposure in the oil gas, automotive and pharmaceuticals sector. However, it decreased its exposure in the cement construction, engineering capital goods and utilities space.

HDFC Asset Management Fund enhanced its exposure in the oil gas, automotive and manufacturing sectors, while slashed its coverage in information technology, engineering capital goods, and pharmaceuticals sectors.

Chennai based Education and Placement Company EdServ has announced the completion of fund raising including the closure of the QIP issue.

Realty firm Omaxe today said its fully owned subsidiary, Omaxe Infrastructure and Construction, has bagged a Rs 127.93 crore contract from the Ministry of Defence.

Zinc futures prices spurted by Rs 3.80, or 3.78 per cent, to Rs 104.45 per kg today amid a firming global trend driven by faster-than-expected growth in China’s industrial output.

Oil prices jumped above $77 a barrel on Monday in Asia, extending gains for a second trading day

Shares of Reliance Industries today rose nearly 3 per cent on the BSE, a day after it announced the completion of its deal to acquire a 60 per cent stake in the Marcellus Shale gas asset in the US for $392 million.

Shares of Kale Consultants zoomed over 18 per cent today after the company’s promoters sold their entire 35.61 per cent stake to France-based airline solutions provider Accelya Holding World.

Oil and Natural Gas Corp (ONGC) today said it has sent a reminder to UK’s Cairn Energy Plc regarding the proposed sale of shares of Cairn India Ltd to billionaire Anil Agarwal-led Vedanta Resources.

Buy Mahindra and Mahindra 650 calls, says VK Sharma, HDFC Securities.

Buy McLeod Russel futures at around 261, says VK Sharma, HDFC Securities.

Vishal Retail said on Monday its board has approved sale of its retail trading business to Shriram Group.

Delta Corp, which recently sold its Prabhadevi land for Rs Rs 250 crore to ICICI Lombard, plans to invest part of the money in gaming business.

Hindustan Construction Company (HCC) has received Rs 312.82 crore North Front Railway tunnel contract

Gujarat NRE Coke has approved issuance of FCCB worth USD 100 million

The initial public offering (IPO) of Indosolar, a manufacturer of polycrystalline solar photovoltaic (SPV) cells, has opened for subscription today.

Prefer Chambal Fert, says Technical Analyst, Sudarshan Sukhani.

Technical Analyst, Sudarshan Sukhani is not upbeat on Tata Steel.

Buy Adani Enterprises, says Technical Analyst, Sudarshan Sukhani.

Upmove likely in Videocon Industries, says Technical Analyst, Sudarshan Sukhani.

Reliance Industries (RIL) is going to sign gas supply contract with Essar Oil. It will supply gas to Essar from eastern offshore KG D6 field

Accelya has acquired 35.61% at Rs 172 per share in Kale Consultants


The Indian rupee gained 21 paise to 46.27 against the $ in early trade today on the Interbank Foreign Exchange, supported by fresh capital inflows from foreign funds.

According to a senior Vedanta executive, the supply of bauxite from Gujarat should start this week. The Orissa alumina project needs about 3 million tonnes of bauxite to run at full capacity.

Wipro Ltd said customers remain cautious about technology spending, with budgets flat to slightly higher as they look for transformational projects.

Morgan Stanley believes RBI needs to lift policy rates towards neutral levels over the next 6 months to manage these macro stability risks.

Technical analyst Sudarshan Sukhani of Technical Trends is bullish on Adani Enterprises, Hindalco, Indiabulls Real Estate, Kotak Mahindra Bank and Videocon Industries. He advises traders to buy into these scrips.

HCL has announced an offshore deal with New Zealand to develop IT infra for prison system.

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