News Capsule (16 Sep 10)

Atlanta on Thursday said its consortium had received an order worth Rs 163 crore from the Mizoram government to construct a two-lane 33 km long highway in the state.

Diversified infrastructure and waste management solutions provider Ramky Infrastructure has fixed a price band of Rs 405-468 a share for its initial public offer.

Orchid Chemicals can test Rs 220, says Mitesh Thacker, Technical Analyst

ARSS Infra has bagged order worth Rs 163.11 crore from Office of the Chief Engineer, PWD, Highway, Mizoram.

PINC Research is bullish on Apollo Tyres and has recommended buy rating on the stock with a target of Rs 110 in its September 15, 2010 research report.

PINC Research is bullish on NIIT Technologies and has recommended buy rating on the stock with a target of Rs 243 in its September 15, 2010 research report.

Angel Broking is bullish on Tata Motors and has recommended buy rating on the stock with a target of Rs 1214 in its September 16, 2010 research report.

Angel Broking is bullish on Prakash Industries and has recommended buy rating on the stock with a target of Rs 232 in its September 16, 2010 research report.

Nirmal Bang has come out with a research report on commodities. The broking firm expects industrial metals to remain bearish.

Angel Broking has maintained neutral rating on Cairn India in its September 16, 2010 research report.

On September 15, 2010 Sundaram Bnp Paribas Mutual Fund sold 70,000 shares of Nitin Fire Protection Industries at Rs 334.41.

The partially convertible rupee was at 46.22/23 per dollar, after rising to 46.20, its strongest since August 9. It had closed at 46.35/36 on Wednesday.

Air-conditioning and cooling products maker Voltas Ltd, part of the diversified Tata Group, is going slow in bidding for electromechanical projects in the Middle East as rising competition in the region squeezes profit margins, a top official told Reuters.

Bharti Airtel, India’s top mobile operator, is looking to sell the telecoms towers of its African operations to a subsidiary for USD 2.6 billion to USD 3.2 billion, the Economic Times reported on Thursday.

IndusInd Bank has raised USD 250 million in a share sale to institutional investors, two sources with direct knowledge of the situation said on Thursday.

Kotak Securities said on Thursday it had downgraded Bajaj Auto, India’s second-largest motorcycle maker, to “reduce” from “add” on unattractive risk-reward ratio.

The rupee weakened by 4 paise to 46.39 against the US $ in early trade at the Interbank Foreign Exchange today as the dollar firmed up against major world currencies.

IVRCL Assets and Holdings Ltd, a unit of IVRCL Infrastructures & Projects, said on Thursday it won an order worth Rs 1,500 crore for extension of the Pune-Mumbai expressway.

The Foreign Institutional Investors (FIIs) were net sellers of Rs 1,772.77 crore in futures and options segments on Wednesday.

Mumbai’s realty sector, which is slowly recovering from the financial slowdown, is set to receive a major boost. At least 100 million sq ft of additional floor space, valued at `1 lakh crore, will be available immediately for the redevelopment of 19,000 old and dilapidated buildings, slums, fishermen colonies and other structures situated in the Coastal Regulation Zone.

Enter Kohinoor Foods with a stoploss of Rs 54, says Mitesh Thacker, Technical Analyst

Alok Industries can test Rs 24.50, says Mitesh Thacker, Technical Analyst

Karvy Forex Research has come out with a research report on currencies. The broking firm expects rupee to depreciate against the dollar.

Mercator Lines has target of Rs 60, says Mitesh Thacker, Technical Analyst

Mudra Lifestyle is in talks with Korean company ELand group for stake sale, reports The Economic Times

HCL Tech can test Rs 445, says Mitesh Thacker, Technical Analyst

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