News Capsule (14 Sep 10)

Microsec Financial Services, a brokerage and financial services firms, aims to raise as much as Rs 1.47 billion through an initial share sale to fund their expansion plans, a top official said on Tuesday.

Rahul Mohindar of Viratechindia is of the view that invest in Gammon Infrastructure with long term perspective.

The government’s revenue from indirect taxes which include customs, central excise and service tax, surged nearly 46 percent to Rs.1,24,170 crore in the first five months of this fiscal.

Anish Damania, Business Head Institutional Equity, Emkay Global Financial Services feels that the auto sector will continue to do well ahead.

Vodafone on Tuesday said it has filed an appeal with Supreme Court, after a lower court last week dismissed its petition and ruled that Indian tax authorities had jurisdiction over tax bills in crossborder mergers.

Leading direct-to-home (DTH) service provider Videocon d2h has launched a new range of LCDs, which receive signals directly from the satellite without use of any set top box (STB).

Rahul Mohindar of Viratechindia is of the view that Ashok Leyland can go upto Rs 82-85.

Living Room Lifestyle at its meeting held on June 09, 2010 has declared dividend at 5% i.e Re 0.50 per shares of Rs 10 each.

IIFL is bullish on Sintex India and has recommended add rating on the stock in its September 14, 2010 research report.

Cairn India has broken important support level of Rs 330. So in medium term it does not look too good. Longer term it is in an uptrend and that should continue, says Hemen Kapadia, Chartpundit.com.


Aksh Optifibre has touched an intraday high of Rs 20.50 and an intraday low of Rs 20.05. At 11:50 the share was quoting at Rs 20.35, down Rs 0, or 0% with volumes of 359,185 shares.

As long as Sesa Goa does not break Rs 300 decisively, it should be better and should start looking up. It will stabilize a bit and then slowly start inching up. Have a hold on the stock, says Hemen Kapadia, Chartpundit.com.

On September 13, 2010 Tii Share Holding Trust sold 10,00,000 shares of Tube Investment at Rs 140 on the NSE. Yesterday the stock closed at Rs 138.85.

On September 13, 2010 Saakshi Shares Pvt Ltd bought 390,457 shares of Silverline Animation Technologies at Rs 21.50 on the BSE.

MM and Tata Motors top picks in the auto space, says Akshata Deshmukh, Networth Stock Broking.

Buy Canara Bank, says Akshata Deshmukh, Networth Stock Broking.

Buy Banking stocks on dip, says Akshata Deshmukh, Networth Stock Broking.

Silver prices climbed a new peak record at Rs 32,030 per kg in the national capital today, on brisk buying by stockists.

Ernst & Young India today said that despite the steep fall in headline inflation in August, the Reserve Bank is likely to persist with monetary tightening measures by hiking key policy rates by at least 25 basis points at its mid-quarter review on Thursday.

Amid reports that it may quit India due to mounting losses, new telecom operator Uninor today said its foreign partner Telenor was committed to its investment in the joint venture with Unitech.

The country’s largest carmaker Maruti Suzuki India is understood to be planning to ramp up its output by about 10 per cent to produce over 1,10,000 units every month from October.

Kerala will allot 82 acres to TCS to set up the centre at Thiruvananthapuram. TCS will be setting up a centre which will train 15,000 professionals.

Ford India, which is aiming to become a major player in the Indian car market by 2015, is looking at an agressive expansion of manufacturing capacity and human resource at its Chennai plant.

Axis ITT, Deccan Gold Mines, Bafna Spinning Mills, Gujarat Borosil, Megasoft and Raj Television will be included in T2T from September 17, reports CNBCTV18.

Prabhudas Lilladher is bullish on Rallis India and has recommended accumulate rating on the stock with a target of Rs 1896 in its September 14, 2010 research report.

State-run SAIL today signed an agreement with RITES, a subsidiary of the Indian Railways, for jointly setting up a railway wagon-making unit in Kulti, in West Bengal, at a proposed investment of Rs 120 crore.

In a setback to L&T, the Delhi High Court today refused its plea to stay the bidding process by state-owned NTPC, after the infrastructure major was disqualified from the Rs 25,000 crore power equipment tender.

Sharekhan Ltd has launched a new service called ‘Fortune Finder’ for retail Investors and traders. ‘Fortune Finder’ is a web and SMS based automated tool that will generate unambiguous buy/sell/hold/stay-out and long/short signals on stocks, across NSE and BSE.

Simhapuri Energy Private Ltd has achieved the financial closure of its 300 MW Phase II thermal power plant at Krishnapatnam, Andhra Pradesh.

KRChoksey is bullish on Prakash Industries and has recommended buy rating on the stock with a target of Rs 245 in its September 14, 2010 research report.

Hold Sesa Goa, says Radhika Gupta, Director, Forefront Capital Management.

Shasun Chemicals is a strong stock. It has been moving sideways between Rs 74 and Rs 90. Once it can stay above this zone of Rs 9093, then Rs 110 is possible, says Technical Analyst, Ashwani Gujral.

Abb has approved the proposal of acquisition of the business of M/s. Metsys Engineering and Consultancy Private Limited (Metsys), based in Bangalore.

Radhika Gupta, Director, Forefront Capital Management is bullish on steel sector.

KEC International to acquire railway signaling Company; strengthens Railway Infrastructure business.

Buy Bengal and Assam, says Aashish Tater of Fort Share Broking.

Power plant equipment major BHEL has bagged a Rs 2,665 crore order for supply and installation of the main plant package for Dainik Bhaskar Power Limited’s 2×600 MW coal-based thermal power project at Baradarha, in Janjgir district of Chhattisgarh.

Alcatel-Lucent has announced the appointment of Sarvdeep Garg as vice president Services, India. Based in Gurgaon, he will report to Vivek Mohan, president of Alcatel-Lucents Services activities.

Indian developer Lavasa Corp. will file a draft prospectus on Tuesday with the stock market regulator for an initial public offer to raise up to Rs 2000 crore ($425 million), two sources with direct knowledge of the matter said.

Aksh Optifibre has touched an intraday high of Rs 20.50 and an intraday low of Rs 20.05. At 11:50 the share was quoting at Rs 20.35, down Rs 0, or 0% with volumes of 359,185 shares.

RIL can test Rs 1100, says Sanjay Dutt, Director, Quantum Securities.

On September 13, 2010 Saakshi Shares Pvt Ltd bought 390,457 shares of Silverline Animation Technologies at Rs 21.50 on the BSE.

On September 13, 2010 Idfc Small And Mid Cap Equity Sme Fund bought 10,00,000 shares of Lakshmi Energy and Foods at Rs 93.80 on the BSE.

On September 13, 2010 Jaypee Capital Services Ltd bought 8,709,599 shares of Ispat Industries at Rs 21.85 and sold 8,047,919 shares at Rs 21.88. Yesterday the share closed at Rs 21.95.

IIFL is bullish on Larsen and Toubro and has recommended buy rating on the stock with a target of Rs 1965 in its September 14, 2010 research report.

IIFL is bullish on Sesa Goa and has recommended buy rating on the stock with a target of Rs 340 in its September 14, 2010 research report.

Suzlon Energy has received 50 MW repeat order from Chinese Power Producer

Short ACC at around Rs 980-990, says Siddharth Bhamre, Angel Broking.

Short HUL at around Rs 278-280, says Siddharth Bhamre, Angel Broking.

Chennai Petroleum Corporation can test Rs 272-275, says Siddharth Bhamre, Angel Broking.

DQ Entertainment (International) Ltd said on Tuesday it has signed a home video distribution agreement for its 3D animated series of ‘Iron Man-Armoured adventures season 1’ with Thailand-based TIGA Entertainment Co Ltd.

The Indian rupee gained 3 paise to 46.36 against the US $ in early trade today, supported by continued foreign capital inflows and dollar losses overseas.

United Spirits, the world’s second-largest spirits maker by volume, said on Tuesday it agreed to buy 54.7 per cent in Pioneer Distilleries at Rs 101 a share.

The Foreign Institutional Investors (FIIs) were net buyers of Rs 1,425.26 crore in futures and options segments on Monday.

VIP Industries can head upto Rs 570-580, says Mitesh Thacker, Technical Analyst

Housing Development and Infrastructure (HDIL) has opened its QIP to raise between USD 150-250 million

Sonata Software promoters are looking to exit company, appoints KPMG as advisors, reports The Economic Times.

SKF India is upbeat about India’s growth story and is investing additional Rs 120 crore to set up a new plant and a technical centre in India. The company is eyeing medium sized companies as acquisition targets in areas like bearing, seals, and lubricants.

ARSS Infrastructure Projects Limited, focusing on construction of roads, highways, bridges, has announced that it has received a new work order from Rajasthan State Road Development Construction Corporation, Jaipur on Sept. 07, 2010 for Rs 93.72 crore.

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