News Capsule (20 Sep 10)

Mobile phone handset maker Micromax Ltd sold a 10 per cent stake in the company to three private equity firms for about Rs 200 crore, Business Director Vikas Jain told Reuters.

Finance Minister Pranab Mukherjee today said that the Indian economy is expected to grow at over 8.5 per cent in the current fiscal on the back of strong factory and foodgrain output.

Divis Lab is looking attractive, says Radhika Gupta, Director, Forefront Capital Management.

HDFC Securities is bullish on Reliance Communications and has recommended buy rating on the stock with a target of Rs 198 in its September 20, 2010 research report.

The 200 DMA of Suzlon Energy is closer to Rs 63, but there is resistance around Rs 59 levels.. So if that gets taken out, then Rs 62 to Rs 65 is possible, says Anu Jain of IIFL Private Wealth Management.

Reliance Industries is an underperformer, says Mitesh Thacker, Technical Analyst

Hexaware is still into that consolidation zone, probably look if there is a breakout over Rs 80 to get into the stock, says Anu Jain of IIFL Private Wealth Management.

VA Tech Wabag, a player in water treatment industry, has fixed a price band of Rs 1,230-1,310 a share for its Rs 472 crore initial public offer, two bankers advising the deal said on Monday.

United Breweries has target of Rs 475, says Technical Analyst, Ashwani Gujral.

Stay invested in banking space, says Vetri Subramaniam, Head of Equity Funds at Religare Mutual Fund.

IndSwift Laboratories has target of Rs 150, says Technical Analyst, Ashwani Gujral.

Orchid Chemicals has target of Rs 230, says Technical Analyst, Ashwani Gujral.

Buy cement, telecom stocks on dip, says Sandeep J Shah, CEO, Sampriti Capital.

Core Projects and Technologies Ltd said on Monday it has acquired two firms in US with combined revenues of $25 million.

IIFL is bullish on Hindustan Unilever and has recommended buy rating on the stock with a target of Rs 302 in its September 20, 2010 research report.

Angel Broking is bullish on Housing Development and Infrastructure (HDIL) and has recommended accumulate rating on the stock with a target of Rs 302 in its September 18, 2010 research report.

Indiabulls Real Estate has target of Rs 200, says Shailesh Kadam, PINC.

Shailesh Kadam, PINC is bullish on BHEL.

Angel Broking has maintained neutral rating on Bajaj Hindusthan in its September 20, 2010 research report.

Hexaware Technologies has increased its Q3 revenue forecast to USD 60 million from USD 58 million

Amtek India board has allotted 54.75 lakh equity at Rs 120.12 per shares upon the conversion of FCCB’s of USD 14.98 million

Aksh Optifibre board has approved fund raising upto USD 333 million

Bharti Airtel is going to foray into handset business

The Uttar Pradesh government will soon invite competitive bids to set up a 2,000-mw thermal power project between Greater Noida and Bulandshahr, alongside the Yamuna Expressway.

Alphageo (India) has bagged order from Jindal Petroleum Operating for onshore 2D seismic data.

Take some profits in private sector banks, says Sandeep J Shah, CEO, Sampriti Capital.

Lupin can move upto Rs 397-400, says Anu Jain of IIFL Private Wealth Management.

Orchid Chemicals has target of Rs 220, says Anu Jain of IIFL Private Wealth Management.

Buy TCS, HCL Tech on dip, says Anu Jain of IIFL Private Wealth Management.

KSK Energy Ventures Ltd said on Monday it had tied up USD 3.6 billion for its 3,600 megawatt thermal power project in central India.

Technical analyst Anu Jain of IIFL Private Wealth Management is bullish on the prospects of DRL, IGL, Shree Renuka, Radico Khaitan and Bajaj Auto Fin.

Riddhi Siddhi Bullion, a major gold dealer, has taken a five per cent stake in the United Stock Exchange (USE), which will go live with currency trading from tomorrow

Indian conglomerate Sahara India Pariwar is in discussions about buying the debt of struggling film studio MetroGoldwynMayer for $1.5 billion to $2 billion, according to two people familiar with the matter.

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