News Capsule (27 Sep 10)

  • LT Finance to file Draft Red Herring Prospectus (DRHP) for Rs 1500 crore Initial public offering (IPO).
  • KGN Industries at its meeting held on August 27, 2010 has declared dividend at Re 0.01 per share on equity share of Rs 1 each.
  • Raamdeo Agrawal, Motilal Oswal Financial Services is bullish on NTPC.
  • Sunidhi Securities is bullish on Maithan Alloys and has recommended buy rating on the stock with a target of Rs 200 in its September 27, 2010 research report.
  • Engineering and construction company Larsen and Toubro has bagged a Rs 1,610 crore order from Visa Power, a Visa Steel and Power Group Company, for its 2×600 MW power plant being set up in Chhattisgarh.
  • India has contracted to import a whopping 2 lakh tonnes of wheat–27% more than in the entire 2009-10– in the first half of the current fiscal.
  • Jaihind Projects today said it has bagged orders worth Rs 33.70 crore for construction related works in Assam and Haryana.
  • State-owned trading firm MMTC today said it has started selling imported black mapte (Urad) through the National Spot Exchange Ltd (NSEL) in a bid to reach Pan-India buyers and fetch better prices.
  • TCS today said it has bagged a contract from the state of Karnataka for establishing and managing a proposed State Data Centre (SDC).
  • S Ranganathan, Head of Research, LKP Securities is not optimistic on sugar pack.
  • Blend Financial Services has filed draft red herring prospectus (DRHP) with the market regulator Securities Exchange Board of India (SEBI) .
  • VST Industries has target of Rs 713, says S Ranganathan, Head of Research, LKP Securities.
  • ILandFS Investment Managers has target of Rs 67, says S Ranganathan, Head of Research, LKP Securities.
  • KPIT Cummins Infosystems has acquired USbased CPG Solutions for USD 13.2 million
  • State Bank Of Bikaner And Jaipur has declared dividend at 72% i:e Rs 7.2 per share on equity share of Rs 10 each.
  • Aanjaneya Lifecare proposes to enter capital markets with an initial public offering of 50 lakh shares of Rs 10 each.
  • Book profits in Asian Paints, says Technical Analyst, Vijay Bhambwani.
  • Buy Elgi Equipment with foursix quarter perspective, says Technical Analyst, Vijay Bhambwani.
  • Senior ministers are likely to take a decision on the contentious issue of cotton exports tommorrow, in the backdrop of demand from the textiles industry to curb global shipments of the natural fibre.
  • Vegetable oil imports are likely to increase to 93-95 lakh tonnes during the next oil year, ending October, 2011, an expert said.
  • The government has imposed anti- dumping duty of up to $ 0.671 per kg on imports of a chemical used in the manufacture of household cleaning products from China to protect the domestic industry.
  • The rupee met with strong resistance from importers and oil firms when it breached the 45 per dollar mark on Monday
  • Mercedes-Benz India today said it will start bus body-building by the second half of next year, for which it will set up a new unit at its Pune plant.
  • Exit Aban Offshore at Rs 875, says Investment Advisor, SP Tulsian.
  • Investment Advisor, SP Tulsian is positive on GMR Infra.
  • Godrej Consumer Products Ltd, which has made four overseas acquisitions this year, is also interested in buying domestic firms to boost growth, the chairman of the USD 2.5 billion diversified group said on Monday.
  • Prefer Lakshmi Vilas Bank in private banking space, says Investment Advisor, SP Tulsian.
  • Firstcall Research is bullish on Bajaj Auto and has recommended buy rating on the stock with a target of Rs 1735 in its September 24, 2010 research report.
  • IIFL is bullish on Wipro and has recommended buy rating on the stock with a target of Rs 475 in its September 24, 2010 research report.
  • Godrej Properties expects revenue to jump more than 50% in the fiscal year ending in March as rising incomes boost demand for housing, the chairman of the USD 2.5 billion diversified group said on Monday.
  • Dalmia Cement has transferred its cement, power and other businesses into Dalmia Bharat Enterprises (DBEL) which should be listed by November this year, said its managing director Puneet Dalmia.
  • Biocon Ltd said on Monday it had strengthened its existing research partnership with Cuba-based Center of Molecular Immunology (CMI) to create a product pipeline focused on autoimmune diseases and cancer.
  • PINC Research is bullish on Siemens and has recommended buy rating on the stock with a target of Rs 900 925 in its September 24, 2010 research report.
  • Reliance Money is bullish on ARSS Infrastructure Projects and has recommended buy rating on the stock with a target of Rs 1444 in its September 22, 2010 research report.
  • IIFL is bullish on Sterlite Technologies and has recommended buy rating on the stock with a target of Rs 130 in its September 23, 2010 research report.
  • Aban Offshore can test Rs 920-930, says Hemant Thukral, Asian Market Securities.
  • Short Jindal Steel Power, says Hemant Thukral, Asian Market Securities.
  • Navin Fluorine International board has approved buyback at Rs 400 per share
  • Hindustan Construction Company (HCC) has awarded two new contracts worth Rs 660 crore from GMR (Badrinath) Hydro Power Generation
  • BPCL plans to invest Rs 50k-cr in the next 5 yrs for expansion of refinery capacity, overseas acquisitions of assets and setting up power projects, reports the Economic Times.
  • The Indian rupee appreciated by 8 paise to Rs 45.17 a dollar in the early trade today on the Interbank Foreign Exchange, supported by fresh capital inflows from foreign funds.
  • India aims to halve its peak power deficit within two years but environmental clearances for power plants could significantly impact future capacity addition, the head of the Central Electricity Authority said on Monday.
  • Textiles maker Arvind Ltd said on Monday it plans to to set up a denim manufacturing plant in Bangladesh with a investment of $60 million over three years.
  • Rolta India Ltd expects to grow by more than 15 per cent in fiscal 2012, as the licenses signed this year start bringing in revenue as the IT firm taps opportunities in a resurgent domestic market, its chief financial officer said.
  • Navin Fluorine International board has approved buyback at Rs 400 per share
  • Expect upmove in Balrampur Chini, says Technical Analyst, Sudarshan Sukhani.
  • Enter Bajaj Auto, says Technical Analyst, Sudarshan Sukhani.
  • Do not buy IDFC, says Technical Analyst, Sudarshan Sukhani.
  • Berger Paints India is going to invest Rs 350 crore in AP. The investment will be made in 5 years, reports CNBCTV18.
  • Karvy Forex Research has come out with a research report on currencies.
  • Buy South Indian Bank on significant correction, says Technical Analyst, Sudarshan Sukhani.
  • Foreing Institutional Investors (FIIs) were net sellers of Rs 1047 cr in futures on options.
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