Arrow Textile eyes to make twofold its production by year-end

According to the Managing Director of Arrow Textiles, Chand Arora, the firm has been aiming to accumulate principal money in order to accomplish its business widening schemes wherein it eyes to make twofold its production until December this current year.

Diamond Power spends Rs 300 crore in Greenfield ventures

In a statement released by the Managing Director of Diamond Power, Amit Bhatnagar, he revealed that the firm already spent a total of nearly Rs 300 crore in Greenfield ventures as well as more or less Rs 50-60 crore in the transformer purchasing.

BSE Sensex grows 0.95% as all sectors expand except IT

The BSE 30-share Sensex was up 166.81 points or 0.95% at 17,700.90. The Sensex rose 190.95 points at the day's high of 17,725.04 at the fag end of the trading session. The Sensex lost 160.31 points at the day's low of 17,373.78 in early trade.

The S&P; CNX Nifty was up 56.35 points or 1.07% to 5,312.50.

The BSE Mid-Cap index was up 0.46%. The BSE Small-Cap index was up 0.44%. Both the indices underperformed the Sensex.

Barring the BSE IT index, all other sectoral indices on BSE rose. BSE FMCG index (up 1.9%), Oil & Gas index (up 1.62%), and Auto index (up 1.07%), outperformed the Sensex. The BSE Realty index (up 0.93%), Power index (up 0.78%), banking sector index Bankex (up 0.76%), BSE PSU index (up 0.6%), Capital Goods index (up 0.56%), Metal index (up 0.47%), Consumer Durables index (up 0.42%), Healthcare index (up 0.28%), and BSE IT index (down 0.07%), underperformed the Sensex.

BSE clocked turnover of Rs 4901 crore, higher than Rs 4523.16 crore on Tuesday, 29 June 2010.
Market Breadth:
Positive 1609 Negative 1283 Unchanged 89
From the 30 share Sensex pack, 25 rose and rest fell.

Hanung Toys eyes 35-40% increase in topline, PAT in FY11

According to the Chairman and Managing Director of Hanung Toys & Textiles, Ashok Kumar Bansal, the firm has been eyeing a revenue increase of around 35-40% in the financial year 2010-2011 on back of emerging market. Moreover, the firm’s topline and PAT may increase 35-40%.

Kotak Mahindra Bank eyes $300 million fund via stake sale

According to Uday Kotak of Kotak Mahindra Bank, the banking firm will push through with accumulating of more or less USD 300 million by means of selling a stake to Sumitomo Mitsui Banking Corporation of Japan. Moreover, Sumitomo Mitsui Banking Corp eyes to buy nearly 4.5% stake in the firm.

Asian Paints makes 2.8% increase in costs of decorative paints

In the latest development, Asian Paints already increased costs of decorative paints by 2.8% which is set to take effect starting the first of July. In addition to that, the upsurge is greater than the 4.15% increase that took effect last May this current calendar year.

Joy Alukkas Group eyes to accrue funds by means of IPO

In a statement released by the Chief Executive Officer of Joy Alukkas Group, Mr. Rolf W. Schneebeli, he revealed that the firm has been thinking over to accumulate financing by means of its IPO or initial public offering in order to accomplish its business widening scheme.

Canara Bank says base rate to come around 8%

According to the Chairman and Managing Director of Canara Bank, AC Mahajan, since SBI or State Bank of India already declared the base rate at 7.5% every year which will take on effect starting the first day of July, the banking firm’s stand will be around 8%.

Saudi Telecom refutes negotiations with GTL-Reliance Infratel tower arm

In a statement released by the Chief Executive Officer for International Operations of Saudi Telecom Company, Ghassan Hasbani, he revealed that the firm already refuted about the negotiations currently being done regarding the acquisition of a stake in GTL-Reliance Infratel tower arm.

Spice Mobility plans to accrue Rs 300 crore in October

According to the Chairman of Spice Mobility Ltd, Bhupendra Kumar Modi, the telecom conglomerate has been planning to accumulate around Rs 300 crore by October through trading 300 crore treasury shares. Moreover, the firm is the joint venture of Spice Televentures and Spice Mobiles.

Vascon Engineering to build up more than 10 million sq ft by FY11

According to the Managing Director of Vascon Engineers, R Vasudevan, the firm has been aiming to build up greater than 10 million sq ft of space in the financial year 2010-2011. Moreover, the firm already accumulated more or less Rs 165 crore via IPO last January.

BPL Ltd eyes revenue goal of Rs 108 crore in health care

According to the Chief Operation Officer for Health Management Solutions of BPL Ltd, Vijay Simha, the firm already fixed a revenue goal of Rs 108 crore in the health care sector wherein its order book reached above 130% of the production.

Tesla Motors trades 13.3 million shares for USD 17 each

In a statement released by Tesla Motors Inc, an electric vehicle manufacturing firm, it already traded 13.3 million shares for a value of USD 17 apiece wherein it accumulated more or less USD 226 million. Moreover, it only aimed to trade 11.1 million shares for USD 14-16 apiece.

Arvind in merger with B Safal Group for residential development

In the latest development, Arvind already informed the public about an equal shared business enterprise with the B Safal Group this Tuesday as it embarked on developing the residential land at Ahmadabad. Moreover, this venture is worth Rs 225 crore upon consummation.

RCF to construct fertilizer refinery worth USD 1.5 billion in Ghana

According to the Chairman and Managing Director of Rashtriya Chemicals and Fertilizers or RCF, US Jha, the firm has been aiming to construct a gas-based urea along with ammonium nitrate arm worth USD 1.5 billion in Ghana that produces 2.3 million tones every year.

QIP of IDFC concludes, firm accrues USD 575 million

The Infrastructure Development Finance Company’s or IDFC qualified institutional placement (QIP) book already concluded wherein the firm already accumulated USD 575 million by means of the issue with a quantity of more or less 13.7 crore shares. Moreover, Rs 168.25 every share is the price of the issue.

BSE Sensex slumps 1.35% as every sector plummets

The BSE 30-share Sensex fell 240.17 points or 1.35% at 17,534.09. The Sensex rose 3.69 points at the day's high of 17,777.95 in early trade. The Sensex lost 308.53 points at the day's low of 17,465.73 in mid-afternoon trade.

The S&P CNX Nifty fell 77.35 points or 1.45% to 5,256.15.

The BSE Mid-Cap index was down 0.65%. The BSE Small-Cap index was down 0.62%. Both the indices outperformed the Sensex.

All the sectoral indices on BSE were in the red. BSE Metal index (down 2.74%), Realty index (down 1.55%), banking sector index Bankex (down 1.47%), and Power index (down 1.36%), underperformed the Sensex. The BSE Oil & Gas index shed 1.35%, matching the slide in the Sensex. The BSE Capital Goods index (down 0.36%), Consumer Durables index (down 0.42%), FMCG index (down 0.45%), PSU index (down 0.7%), IT index (down 0.76%), Auto index (down 0.85%), and Healthcare index (down 0.96%), outperformed the Sensex.

BSE clocked turnover of Rs 4440 crore, higher than Rs 4248.22 crore on Monday, 28 June 2010.
Market Breadth:
Positive 1139 Negative 1761 Unchanged 92
From the 30 share Sensex pack, 27 fell and rest rose.

ONGC intends to acquire USD 986 million worth rigs

Oil and Natural Gas Corp or ONGC, a government-controlled firm, has been aiming to spend a total of Rs 4,580 crore or USD 986 million in order to acquire 14 oil and gas rigs. Moreover, the firm intends to buy onshore rigs from BHEL.

Shipping Corp Chairman says Baltic Dry Index fall due to slump in Chinese exports

In a statement released by the Chairman and Managing Director of Shipping Corporation of India, S Hajra, he revealed that the decrease in the Baltic Dry Index, which is trading 32% below against last year, was due to the plunge in exportation in China.

Rs 5 billion to be accrued in July 31 by Bajaj Auto Finance

According to the Chief Executive Officer of Bajaj Auto Finance Ltd, Rajeev Jain, the firm could accrue at minimum Rs 500 crore or Rs 5 billion on July 31, 2010 by means of retail debentures such as money markets as well as banks.

Rs 400 crore to be accrued by Pantaloon Retail

According to the biggest listed retailing firm in India, Pantaloon Retail India, the firm already announced that it is all set to accumulate Rs 400 crore or USD 86 million through issuance of convertible warrants to promoters worth Rs 400 apiece.

Ashok Leyland increases by 3% the costs of trucks

In a statement released by Ashok Leyland this Tuesday, the firm revealed that it already increased by nearly 3% to between Rs 20,000 to Rs 50,000 the costs of its vehicles, both medium and heavy, in order to compensate for the price hike in raw materials.

HDFC Bank eyes somewhere 6.75% to 8% base rate

According to the statement released by the Executive Director of HDFC Bank, Paresh Sukthankar, the top-two independent segment lending firm of India has been eyeing majority of the players in the banking industry to set somewhere between 6.75% and 8% the base rate.

Apollo Tyres mulls to increase costs the following week

According to the Chief Financial Officer of Apollo Tyres Ltd, Sunam Sarkar, the nation’s top-two tyre manufacturing firm based on sales has been mulling to hike merchandise costs the following week after costs of rubber rose to Rs 18,000 last Monday, a record high.

Hindustan Media Ventures IPO to be launched in July 5

HT Media’s subsidiary, Hindustan Media Ventures, is all set to introduce its IPO or initial public offering worth Rs 2.7 billion or USD 58 million on July 5, 2010. Moreover, the price range for this issue is still to be determined while the conclusion of this issue will be on July 7, 2010.

Rs 300 crore to be spent for retail business by Gitanjali Gems

In a statement released by the Managing Director of Gitanjali Gems, Mehul Choksi, he revealed that the firm has been aiming to augment 300,000 sq ft of Indian retail sector in 2010 wherein the firm’s entire expenditure will be Rs 300 crore.

29.9 lakh shares IPO of Technofab Engineering launched this day

According to the Chairman and Managing Director of Technofab Engineering, Avinash Gupta, the firm’s 29.9 lakh shares IPO or initial public offering was already launched to be subscribed this day wherein the public issue’s conclusion will be on July 2, 2010. Moreover, Rs 230-240 per share is the price range for the issue.

UK-based Servosteel already acquired by Essar Steel

In a statement released by Essar Steel, the unit of the shipping-to-telecoms firm Essar Group, the company revealed that its subsidiary already acquired a UK-based private steel processing firm Servosteel. Moreover, Servosteel can process steel to a quantity of 500,000 tonne annually.

Tata Motors aims to accrue Rs 2,500 crore

Tata Motors’ top executives has planned to discuss this Monday on the firm’s aim of accumulating Rs 2,500 crore by means of GDR or global depository receipt, FCCB or foreign convertible bond or the QIP or qualified institutional placement. The firm also targets Rs 2,500 crore worth of principal expenditure.

MTN under negotiations with Loop Telecom for stake acquisition

MTN of South Africa has been under negotiations with Loop Telecom in order to acquire a 45% stake in the cellular service provider in India. In addition to that, 10% stake in Loop Telecom is currently owned by Essar Group of India.

Eloxatin generic version to be ceased from sale by Sun Pharma

According to the medicine manufacturing firm in India, Sun Pharmaceutical Industries, it is set to cease putting on sale Sanofi-Aventis’ cancer medicine Eloxatin’s generic version in the United States starting June 30, 2010 to August 2012 as commanded by the court.

Rel Infra to shell out Rs 5,100 crore for freeway sea link

In the latest development, Reliance Infrastructure or Rel Infra already sealed a compromise agreement with Maharashtra State Road Development Corporation or MSRDC in order to enhance the second phase of Mumbai Sea Link. Moreover, Rel Infra is set to shell out Rs 5,100 crore for the freeway sea link.

Rs 58,000 crore to be invested by Power Grid

According to Power Grid, the firm has been aiming to spend Rs 58,000 crore for constructing corridors with nine high capacity. The investments for this venture were being eyed by the firm to come from internal accruals, the World Bank and the Asian Development Bank.

BSE Sensex climbs 1.14% as all sectors but FMCG grow

The BSE 30-share Sensex rose 199.73 points or 1.14% at 17,774.26. The Sensex jumped 220.27 points at the day's high of 17,794.80 in late trade. The Sensex lost 2.68 points at the day's low of 17,571.85 in early trade.

The S&P CNX Nifty rose 64.45 points or 1.22% to 5,333.50.

The BSE Mid-Cap index was up 1.14% and matched the Sensex's rise. The BSE Small-Cap index was up 1.1% and underperformed the Sensex.

Barring the BSE FMCG index, all the other sectoral indices on BSE rose. BSE Consumer Durables index (up 2.83%), BSE Oil & Gas index (up 2.29%), Realty index (up 2.15%), BSE Power index (up 1.94%), BSE PSU index (up 1.78%), BSE Capital Goods index (up 1.45%), and Auto index (up 1.19%), outperformed the Sensex. BSE Metal index (up 1.1%), banking sector index Bankex (up 0.84%), IT index (up 0.75%), Healthcare index (up 0.33%), and FMCG index (down 0.66%), underperformed the Sensex.

BSE clocked turnover of Rs 4201 crore, lower than Rs 4491.90 crore on Friday, 25 June 2010.
Market Breadth:
Positive 1789 Negative 1088 Unchanged 113
From the 30 share Sensex pack, 25 rose and rest fell.

IPO of Bajaj Corp receives 4/5 CRISIL IPO grade

According to the statement released by Bajaj Corp this Monday, the firm revealed that CRISIL Equities already gave its IPO or initial public offer a CRISIL IPO grade of 4/5 which showed that the essentials of firm’s IPO are considered greater than intermediate as compared to other Indian counterparts.

IPO of Aster Silicates obtains complete subscription

Because of the assistance from NIIs or non-institutional investors, the initial public offering of Aster Silicates obtained complete subscription of 1.4 times. Moreover, the firm’s IPO, which was launched last June 24 with a value of Rs 53.10 crore as well as price range of Rs 112-118 every equity share, concluded today.

Technofab Engineering IPO opens on 29th June

Technofab Engineering IPO or TEL wherein it is set to be introduced on June 29, 2010 (Tuesday) and to conclude on July 2, 2010 (Friday). The price range for the issue is Rs 230-240 every share.

Kaushik Basu says fuel price upsurge to bring inflation rise by 0.9 percentage pts

In a statement released by the government’s Chief Economic Adviser, Kaushik Basu, he revealed that the increase in the cost of fuel is set to bring the core inflation every month to surge by 0.9 percentage points or 90 basis points.

Standard Chartered predicts bond yields to reach 7.7% this month

According to the senior official of Standard Chartered Bank, Arvind Sampath, he is expecting that the yields may possibly reach around 7.70% for the remaining of this month of June. Moreover, the bond market witnessed that yields progressed around 3 to 5 basis points across the board this day.

Issuance of shares to be reflected on by Maytas Infra this July 19

According to Maytas Infra, the firm is scheduled to conduct an unusual general assembly on July 19, 2010 in order to reflect on issuance to SBG Projects Investments of 1.54 million shares. In the previous weekend, SBG already approved to acquire 20% stake in Maytas for nearly Rs 300 crore.

Reliance Communication shaved 60% off in international call rates

Reliance Communication already shaved off 60% in international call rates to Rs 1.99 every minute for nations including Canada along with United States. At present, the market call rates were in the range Rs 5-10 every minute for Canada as well as United States.

MVNO policies being worked out by the government

In a statement released by the Telecoms Secretary P.J. Thomas, he revealed that the government has been currently carrying out the policies for MVNO or mobile virtual network operators wherein the issuance is scheduled to be in effect in next to no time.

Provogue merger entity set to develop 300,000 sq ft in Aurangabad

In a statement released by the Managing Director of the clothing seller Provogue India Ltd, Nikhil Chaturvedi, he revealed that the firm’s shared business enterprise Prozone Enterprises is set to develop 300,000 square feet of realty in Aurangabad which will commence this coming October.

ICICI Bank expects 20% increase in home loan demand this FY11

According to the Chief Executive Officer of ICICI Bank, Harshil Mehta, the banking firm has been looking forward to an increase of 20% in home loan demand at the top-two lending firm of India in the financial year 2010-2011 that commenced last April.

10 real estate pacts by end of FY11 to be sealed by IL&FS Investment

According to the Vice Chairman of IL&FS Investment Managers Ltd, Shahzaad Dalal, the firm has been aiming at sealing at minimum 10 real estate pacts before the current financial year concludes at March 31, 2011. As of the moment, the firm already completed 30 pacts.

Due to failed AIA pact, intense pressures lingers AIG Chairman, CEO

In the latest development, there were raised pressures between AIG Chairman Harvey Golub along with AIG Chief Executive Robert Benmosche after the unsuccessful selling by American International Group (AIG) of its Asian Life subsidiary AIA to Prudential PLC via USD 35.5 billion pact.

BSE Sensex plummets 0.88% as majority of sectors decline

The BSE 30-share Sensex fell 155.71 points or 0.88% at 17,574.53. The Sensex fell 15.51 points at the day's high of 17,714.73 in morning trade. The Sensex lost 183.51 points at the day's low of 17,546.73 in late trade.

The S&P CNX Nifty shed 51.55 points or 0.97% to 5269.05.

The BSE Mid-Cap index was down 0.7%. The BSE Small-Cap index was down 0.54%. Both the indices outperformed the Sensex.

Most sectoral indices on BSE fell. Banking sector index Bankex (down 2.19%), Metal index (down 1.85%), BSE IT index (down 1.42%), BSE Realty index (down 1.08%), Capital Goods index (down 0.96%), BSE FMCG Index (down 0.93%), Auto index (down 0.91%), underperformed the Sensex.

BSE Oil & Gas index (up 2.88%), BSE PSU index (up 1.13%), Healthcare index (up 0.2%), Consumer Durables index (down 0.06%), Power index (down 0.23%), outperformed the Sensex.

BSE clocked turnover of Rs 4471 crore, lower than Rs 5046.77 crore on Thursday, 24 June 2010.

Market Breadth:

Positive 1156 Negative 1714 Unchanged 90
From the 30 share Sensex pack, 22 fell and rest rose.

Pfizer targets two-digit sales increase this calendar year

According to the Managing Director of Pfizer Ltd, Kewal Handa, the pharmaceutical company has been looking forward to a two-digit sales increase this current calendar year. Moreover, the firm’s sales increased 19% in the same period last year concluding last May.

Mizuho Financial Group aims to accrue USD 9.6 billion fund

According to the top-two bank of Japan, Mizuho Financial Group, the banking firm has been aiming to accumulate USD 9.6 billion, which is somewhat higher than the target, in order to intensify its shares outstanding by 38%. Moreover, the bank opted to issue utmost 6 billion shares.

Tata Motors aims manufacturing plant in South Africa by FY11

In the latest development, Tata Motors has been planning to construct a manufacturing refinery to be located in South Africa for medium-sized as well as minor vehicles which is expected to be completed by the end of the financial year 2010-2011, according to PM Telang, the firm’s chief in India.

Zenith Birla targets Rs 1,000 crore turnover in FY11

According to the Group Director Finance of Zenith Birla, PVR Murthy, the firm has been targeting to attain a turnover of Rs 1,000 crore from the previous Rs 500 crore in the financial year 2010-2011. Moreover, the margins are expected to rise from 5.5% to 8%.

Atul Ltd expects sale, capacity to make twofold by 2013

In a statement released by the President of Atul Ltd, Rajesh Bhasin, the chemicals producing firm already purchased Polygrip. In addition to that, the firm has been aiming to make twofold its production as well as sale in the span of two to three years.

Vijaya Bank eyes NIM to increase at maximum of 2.85% by March 2011

According to the Chairman of Vijaya Bank, Albert Tauro, the firm has been aiming to achieve a whole year net interest margin or NIM increasing at maximum of 2.8% or 2.85% by March 2011. However, gross NPA is expected to decline around 2% while net NPA below 1% by March 2011.

Rs 60,000 crore investment in assets aimed by LIC this FY11

In a statement released by the Executive Director of LIC, N Mohanraj, he revealed that the firm will be spending in different asset classes for the present calendar year to the amount of slightly higher than Rs 2 lakh crore wherein the investment is definitely valued at least Rs 60,000 crore in assets.

Dell Inc aims to double ventures in IT, storage, server

According to the Chief Financial Officer of Dell Inc, Brian Gladden, the firm already created a scheme to nearly make twofold its ventures in IT, storage and server with a total value of USD 16 billion by means of embarking on another industry which is selling of low-margin personal computers.

Vindi Banga unites with CD&R for targeted growth in India

Vindi Banga, the ex-President of Unilever’s foods, residence and private care divisions, already united with Clayton, Dubilier & Rice or CD&R, a private equity company, as its managing associate in London because the firm eyes more exposure in emerging countries such as India.

Bharti Airtel to spend USD 150 million in Zambia

According to the statement made by the Chief Executive Officer of Bharti Africa, Manoj Kohli, he revealed that Bharti Airtel is set to invest USD 150 million in order to increase its exposure as well as enhance its network in Zambia by 2012 to 2013.

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Rs 120 crore order from LA Unified School obtained by Core Projects

In a statement released by the Chief Executive Officer of Core Projects and Technologies, Shekhar Iyer, he revealed that the firm already obtained Rs 120 crore worth of order from Los Angeles Unified School which will commence come first day of July.

Jayant Agro expects 30% mixed increase rate in FY11

According to the Chief Financial Officer of Jayant Agro Organics, Vikram Udeshi, the firm has been looking forward on achieving 30% compounded yearly increase rate in the financial year 2010-2011 wherein around 85% of revenues of Jayant Agro will be coming from exportation.

VST Tillers Tractors attains 3 production plants in Bangalore

According to the Chief Financial Officer of VST Tillers Tractors, R Thiyagarajan, the firm already obtained 50% market share in Tillers which is utilized in Indian agriculture segment. Aside from having a merger with Mitsubishi, the firm also attains three producing refineries in Bangalore.

McLeod Russel to end 2010 with 15-20 million kg loss

According to the Chief Financial Officer of McLeod Russel, Kamal Baheti, the firm most probably will conclude this year with a 15-20 million kilogram deficit in Northeast. The present costs stand at around Rs 145-150 every kg which is an increase from Rs 137 every kg last May.

BSE Sensex dips 0.14% same with IT index

The BSE 30-share Sensex was down 25.70 points or 0.14% at 17,730.24. The Sensex rose 89.71 points at the day's high of 17,845.65 in early afternoon trade. The Sensex fell 123.14 points at the day's low of 17,632.80 in late trade.

The S&P CNX Nifty was down 2.55 points or 0.05% to 5,320.60.

The BSE Mid-Cap index was up 0.12%. The BSE Small-Cap index was up 0.17%. Both the indices outperformed the Sensex.

Sectoral indices on BSE were mixed. BSE FMCG Index (up 1.01%), Capital Goods index (up 0.77%), Healthcare index (up 0.3%), Auto index (up 0.08%), Consumer Durables index (up 0.04%), and BSE PSU index (down 0.10%), outperformed the Sensex. BSE IT index declined 0.14%, matching the decline in the Sensex. BSE Realty index (down 0.78%), BSE Oil & Gas index (down 0.66%), banking sector index Bankex (down 0.56%), Metal index (down 0.5%), and Power index (down 0.21%), underperformed the Sensex.

BSE clocked turnover of Rs 4989 crore, higher than Rs 4058.64 crore on Wednesday, 23 June 2010.

Market Breadth:

Positive 1580 Negative 1315 Unchanged 86
From the 30 share Sensex pack, 18 fell and rest rose.

Tata Motors could accrue Rs 2,500 crore to trim debt

In the latest development, Tata Motors will most probably accumulate at maximum Rs 2,500 crore or USD 541 million to trim debt along with enhance debt to equity ratio. Moreover, the firm that acquired Jaguar Land Rover unit from Ford 2 years ago absorbed Rs 18,800 billion rupees net debt last March.

ING putting on sale USD 110 million shares in Kotak Mahindra Bank

A financial services group based in Netherlands, ING, is currently trading shares in Kotak Mahindra Bank Ltd of India to the amount of USD 110 million. Moreover, the shares were put on sale to a price range of Rs 730 to Rs 750 apiece.

Textile Share in India in global trading to reach 7% by 2014

In a statement made by the Chief Financial Officer of Alok Industries, Sunil Khandelwal, he revealed that the modification in currency position by China will bring optimism for corporations in India. The share of India in worldwide trading stood at 3.5% versus China’s 33%. He expects an increase to 7% by 2014 for India.

Reliance Industries in USD 1.15 billion merger deal with Pioneer

According to Reliance Industries Ltd or RIL, the firm already sealed a shared business enterprise to the value of USD 1.15 billion with Pioneer Natural Resources. In addition to that, Pioneer is set to trade 45% interest in eagle Ford Shale.

Aster Silicates IPO introduced today

In the latest development, the IPO or initial public offering of Aster Silicates, a firm that produces sodium silicate, was already introduced this day to be subscribed wherein the price range stands at Rs 112-118 every equity share. The firm has been aiming to accrue Rs 53.10 crore via the issue.

USD 300 million to be shelled out by Reliance to Pioneer

In the latest development, Reliance Industries is set to shell out USD 300 million in ready money and the remaining in capex until 2014. In addition to that, the biggest listed firm of India is expected to acquire 45% of Eagle Ford shale acreage of Pioneer in Texas.

Rs 12,000 crore for refinery to be spent by Titan Industries

According to the Managing Director of Titan Industries Ltd, Bhaskar Bhat, the firm has been aiming to construct a lens manufacturing refinery in Bangalore wherein Rs 12,000 crore will be spent primarily. The refinery is aimed to manufacture around 500 units daily for both trade names Signature and Activ.

BSE Sensex slightly climbs 0.04% as realty, healthcare lead upsurge

The BSE 30-share Sensex was up 6.25 points or 0.04% at 17,755.94. The Sensex rose 32.72 points at the day's high of 17,782.41 in mid-afternoon trade. The Sensex fell 120.50 points at the day's low of 17,629.19 in early trade.

The S&P; CNX Nifty was up 6.60 points or 0.12% to 5,323.15.

The BSE Mid-Cap index was up 0.84%. The BSE Small-Cap index was up 0.7%. Both the indices outperformed the Sensex.

Most sectoral indices on BSE rose. The BSE Realty index (up 1.43%), Healthcare index (up 1.42%), Consumer Durables index (up 0.76%), IT index (up 0.73%), Auto index (up 0.67%), FMCG index (up 0.6%), banking sector index Bankex (up 0.4%), and PSU index (up 0.37%), outperformed the Sensex. The BSE Power index (down 0.07%), Oil & Gas index (down 0.1%), Metal index (down 0.34%) and Capital Goods index (down 1.38%), underperformed the Sensex.

BSE clocked turnover of Rs 4035 crore, lower than Rs 4840 crore on Tuesday, 22 June 2010.

Market Breadth:

Positive 1784 Negative 1083 Unchanged 123
From the 30 share Sensex pack, 20 rose and rest fell.

Exports to account for 25% of sales for TVS Motor by 2015

According to the General Manager for Marketing of the leading two-wheeler firm TVS Motor, HS Goindi, the exports is expected to account for 25% of the entire sales by 2014 to 2015. At present, the exports account only for 14-15% of its entire sales.

Vivendi refutes stake buy in Reliance Communications

According to Vivendi, the biggest entertainment group of Europe, there is no truth about the negotiations to acquire 26% stake in Reliance Communications, a cellular service provider. During the day of trading exchange, the firm’s shares plunged 2.2% at 17.59 euros.

IPO of Agricultural Bank of China Hong Kong unit priced at HK $2.80/share

According to the Vice-President of Agricultural Bank of China, Pan Gongsheng, the banking firm is set to price the Hong Kong unit of its probable record IPO value of USD 23 billion at a maximum amount of HK $2.80 every share.

IOC gets deficits of Rs 115 crore daily on selling fuel

At present, the nation’s largest oil trader, Indian Oil Corp or IOC, has been getting revenue loss everyday on selling fuel in the local market to the amount of Rs 115 crore or USD 24.9 million, according to the firm’s Chairman B.M. Bansal.

Hulu under negotiations with CBS, Viacom, Time Warner

In the latest development, Hulu, a site for uploading visual files without charge, already announced that it is under negotiations with CBS Corp, Viacom Inc as well as Time Warner Inc in order to include the three company’s TV programs to its targeted subscription service with pay.

Rs 25 crore manufacturing refinery in Egypt to be acquired by Emami

In the statement of Promoter of Emami, Mohan Goenka, he revealed during the ICICI Securities Consumer Conference that the firm the Egyptian agreement involved the acquisition of a manufacturing refinery in Egypt. The principal expenditure for this venture is around Rs 10-12 crore wherein Rs 25 crore is the required budget.

Hem Securities advises to disregard IPO of Aster Silicates

According to the sodium silicate producing firm Aster Silicates, the IPO or initial public offering will be introduced on June 24, 2010 wherein its public issue value is Rs 53.10 crore. The conclusion date for its IPO is on June 28, 2010. However, Hem Securities advised share holders to disregard the issue.

61.47% ownership assured by Khorakiwala Holdings: Wockhardt

According to Wockhardt, Khorakiwala Holdings & Investments Private has already committed 67 million shares or 61.47% ownership in the firm which brings its total stake to 96.49%. Moreover, the Chairman HF Khorakiwala already committed 0.4% stake or 0.44 million stake.

Cox & Kings India to buy units abroad and locally

According to the Chief Financial Officer of Cox & Kings India, Anil Khandelwal, the travel operating firm has been looking for investor nod to accumulate Rs 2,000 crore by means of equity as well as debt to support its aim of buying units locally and abroad.

Reliance under negotiations with MTNL for trading 3G services

In a latest development, Reliance Industries, the firm that already gave its nod to acquire Infotel Broadband, has been under primary negotiations with MTNL in order to trade its 3G services as a franchisee. Moreover, MTNL has obtained 3G band in advance of the private firms.

BSE Sensex suffers 0.71% downturn as nearly every sector collapses

The BSE 30-share Sensex fell 126.86 points or 0.71% at 17,749.69. The Sensex fell 8.43 points at the day's high of 17,868.12 in early trade. The Sensex fell 150.92 points at the day's low of 17,725.63 in late trade.

The S&P; CNX Nifty declined 36.75 points or 0.69% to 5,316.55.

The BSE Mid-Cap index was down 0.02%. The BSE Small-Cap index was up 0.07%. Both the indices outperformed the Sensex.

Most sectoral indices on BSE declined. The BSE Metal index (down 1.9%), IT index (down 1.24%), banking sector index Bankex (down 0.81%) and Capital Goods index (down 0.72%), underperformed the Sensex. The BSE Power index fell 0.71%, matching the fall in the Sensex.
The BSE Auto index (down 0.43%), BSE PSU index (down 0.36%), BSE Oil & Gas index (up 0.02%), Healthcare index (up 0.06%), FMCG index (up 0.71%) and Capital Goods index (up 1.01%), outperformed the Sensex. The BSE Realty index was unchanged for the day, thereby outperforming the Sensex.

BSE clocked turnover of Rs 4835 crore, higher than Rs 4112.46 crore on Monday, 21 June 2010.

Market Breadth:

Positive 1317 Negative 1566 Unchanged 101
From the 30 share Sensex pack, 27 fell and rest rose.

Rs 1,500 crore production widening aimed by JK Paper

According to the Managing Director of JK Paper, Harsh Pati Singhania, the firm already witnessed 5% upsurge in EBITDA margin. Moreover, it has been eyeing Rs 1,500 crore investment for production expansion scheme wherein a latest 200,000 tonne capacity pulp mill will be constructed.

Rainbow Papers hikes pulp costs by Rs 5,000 per tonne since January

According to the Chairman and Managing Director of Rainbow Papers, Ajay R Goenka, the costs of pulp already increased to USD 970 every tonne level from USD 350 every tonne level. However, the firm hiked costs by Rs 4,000 to Rs 5,000 every tonne since January this year.

Gemini Communication targets Rs 8,000 crore BSNL by 2014

According to the Group Chairman and Managing Director of Gemini Communication, R Vijay Kumar, the firm has been targeting revenues around Rs 30,000-40,000 crore on the LTE business in India in a span of two to three years. Moreover, the BSNL is expected to be around Rs 8,000 crore.

Nalco predicts costs of aluminum to roll back to $2,000 per tonne

In a statement released by BL Bagra, the Director for Finance of Nalco, he predicted that costs of aluminum will roll back to USD 2,000 every tonne even if the trading value stands at USD 1,960 every tonne as of the moment.

Far East region being targeted by Aqua Logistics for expansion

According to the Vice Chairman of Aqua Logistics, MS Sayad, the conglomerate established in Mumbai has been eyeing to purchase a stake in power sector in the Far East region such as Indonesia, Vietnam, Singapore and Thailand. It also targets above Rs 550 crore topline in FY11.

Biosyntech to be acquired by Piramal Health for $3.9 million

According to the Director for Strategic Alliances and Communications of Piramal Healthcare Ltd, Swati Pirmal, the firm already sealed an absolute deal to buy a stake in BioSynthech of Canada for a value of USD 3.9 million wherein an initial investment was made at Rs 22 crore five years ago.

Bank of Rajasthan, ICICI Bank carry out separate EGMs last Monday

In order to attain the investors’ approval for a recommended joint venture deal, ICICI Bank as well as Bank of Rajasthan already carried out their EGMs or extraordinary general meetings last Monday. EGM of ICICI Bank was in Baroda while EGM of Bank of Rajasthan was in Mumbai.

Rs 827 orders obtained by L&T;

According to the Thermal Power Plant Construction business arm of Larsen & Toubro or L&T;, the firm already obtained two orders from GVK Power to the amount of Rs 827 crore for the broadening scheme of Gautami Combined Cycle Power Plant as well as SEPCO-I for Talwandi Sabo Power Plant in Punjab.

Group of ministers to assemble this Friday about costs of fuel

In a statement released by Murli Deora, the Oil Minister, he revealed that a group of ministers is scheduled to assemble this coming Friday, June 25, 2010, to have volition regarding costs of fuel. Moreover, the shares of Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum increased between 2.7% and 3%.

Technofab Engineering fixes price of IPO at Rs 230-240 per share

According to Technofab Engineering, the range of price of shares for its recommended IPO or initial public offering already got a fixed price of Rs 230-240 every share. In addition to that, the company has been aiming to accumulate Rs 750-800 million and utilize the returns to fund acquisition of building gears.

Sheth Developers eyes anchor occupants for Thane mall venture

In a statement released by the Vice President for Marketing & Leasing of Sheth Developers, JP Biswas, he revealed that the developing company established in Mumbai is already in talks with Shopper’s Stop and Hypercity and Cinepolis to become anchor occupants for the soon-to-rise Vivacity Mall at Thane.

RBS to put on sale its Indian subsidiary to HSBC

In the latest development, Royal Bank of Scotland, an 83% managed by the British government, looms to put on sale its Indian unit to HSBC and could eventually trade its asset bank unit in Chile. It also may possibly take above USD 8 billion from three huge investment trading few months from now.

JP Morgan endorses acquisition on Sintex Index

According to the Managing Director of the brokerage and securities company Sintex Industries, Amit Patel, JP Morgan already endorsed an acquisition on Sintex Index. In addition to that, a price goal of Rs 435 was already set off by the firm.

BEML expects Rs 4,200 crore sales in FY11

In a statement released by the Chairman and Managing Director of BEML Ltd, V. R. S. Natarajan, the company has been anticipating to attain Rs 4,200 crore sales in the current financial year and above Rs 5,000 crore in the financial year 2011-2012.

Future Capital aims to sustain 58-60% EBITDA margin

According to the Chief Financial Officer of Future Capital, Shridhar Narayan, the firm’s present EBITDA stands at 58%. In addition to that, it has been aiming to make twofold its current book at the conclusion of financial year 2010-2011. The firm also aims to maintain 58-60% level of EBITDA margin until 2012.

Elecon Engineering eyes Rs 1,200 crore orders by September 30

According to the Chairman and Managing Director of Elecon Engineering, Prayasvin Patel, the firm has already obtained Rs 1,582 crore in the period until the end of May this year. Moreover, the firm is looking forward to obtain orders worth Rs 1,200 crore by September 30, 2010.

Visa Steel ferrochrome export to China accounts for 20-25% of revenue

In a statement released by the Chairman and Managing Director of Visa Steel, Vishambhar Saran, he revealed that the firm has been exporting ferrochrome to China with a quantity of around 50,000 tonnes annually which accounts for its 20-25% of the entire revenue.

Jyothy Laboratories aims to accrue Rs 300 crore via QIP

According to the Deputy Managing Director of Jyothy Laboratories, Ulhas Kamath, the firm has been aiming to accumulate Rs 300 crore at maximum by means of QIP. Moreover, the firm has already embarked on mosquito repellents, surface cleaners as well as fabricare.

BSE Sensex increases 1.74% in a record 10-week high

The BSE 30-share Sensex rose 305.73 points or 1.74% at 17,876.55, its highest closing level since 9 April 2010. The Sensex rose 348.80 points at the day's high of 17,919.62 in mid-afternoon trade. The Sensex rose 83.99 points at the day's low of 17,654.81 in early trade.

The S&P; CNX Nifty was up 90.70 points or 1.72% to 5,353.30, its highest closing since 9 April 2010. Nifty hit a high of 5,366.75 in mid-afternoon trade.

The BSE Mid-Cap index was up 1.29% and the BSE Small-Cap index was up 1.22%. Both the indices underperformed the Sensex.

BSE clocked a turnover of Rs 4092 crore, lower than Rs 4467.68 on Friday, 18 June 2010.
The BSE Metal index (up 5.16%), Realty index (up 2.66%), Bankex (up 2.04%), Capital Goods index (up 1.77%), outperformed the Sensex.

Auto index (up 1.50%), Power index (up 1.39%), FMCG index (up 1.39%), Consumer Durables index (up 1.25%), Healthcare index (up 0.97%), Oil & Gas index (up 0.88%), IT index (up 0.66%) and PSU index (up 0.57%), underperformed the Sensex.

Market Breadth:

Positive 1828 Negative 1020 Unchanged 138
From the 30 share Sensex pack, 28 rose and rest fell.

Maytas Infra in tactical merger deal with Saudi Bin Laden Group

According to the Chief Executive Officer of Maytas Infrastructure, Vimal Kaushik, the firm already formed a joint venture with Saudi Bin Laden Group for a tactical merger. Saudi Bin Laden Group will be providing the technological know-how in the construction segment and get 20% stake in Maytas Infrastructure.

Berkshire Hathaway’s Indian subsidiary to buy company agency license

According to Berkshire Hathaway Inc, it is targeting to create a 100% controlled Indian subsidiary which is aimed to purchase a company agency license from Baja Allianz General Insurance. Moreover, Berkshire’s Indian subsidiary aims to put on sale motor insurance and to invest Rs 50,000 crore for setting up a support hub.

Costs of cement to slump even more by Rs 10-15 every bag

A significant sign of the progress of the nation’s building activity, the costs of cement, already slumped by Rs 5-40 every bag in the same period last month wherein the costs are being anticipated to decrease even more by Rs 10-15 every bag.

GVK Power gives Rs 3,200 crore power venture to its unit

According to GVK Power, its subsidiary GVK Gautam was already given a Rs 3,200 crore pact for constructing an 800 Megawatt power venture in Andhra Pradesh, which is based on gas, to Hyundai Engineering and Larsen & Toubro. It is anticipated to run in quarter one of 2013.

Aster Silicates aims to launch Rs 53.10 public issue

In a statement released by the sodium silicate producing firm Aster Silicates, it already revealed about the scheduled launching on June 24, 2010 of Rs 53.10 crore public issue with a fixed price range of Rs 112-118 every equity share. The conclusion for this issue will be on June 28, 2010.

HCL Tech in joint venture talks with HCL Infosystems

In the latest development, HCL Technologies, which is classified among the major Information Technology firm of India, has been under negotiations for joint venture pact with HCL Infosystems, its listed unit. Moreover, HCL Technology could possibly assigned two banking entities to take a look on the joint venture.

Rs 20 crore to be spent by International Finance Corp in Aadhar Housing

In a statement released by Dewan Housing Finance Corporation Ltd, the firm revealed that the International Finance Corporation already gave consent on spending utmost Rs 20 crore through acquisition of 2 million shares at maximum in Aadhar Housing Finance Private Ltd or AHFL.

Fortis Healthcare to get $2 billion from Indian banks for Parkway offer

Fortis Healthcare was already guaranteed to get USD 2 billion from Indian banks for its offer to control Parkway Holdings of Singapore. In addition to that, Parkway Holdings already set a deadline of giving complete tender to Fortis in July 30.

Anil Ambani Group to trade stake in Reliance Comm to GTL, PE

In a statement released by Anil Dhirubhai Ambani Group, it has been aiming to put on sale a stake in Reliance Communications telecoms tower arm by means of mixture of money along with stock to GTL Infrastructure as well as a private equity share holder.

Laskowski assigned by Citigroup as its COO for Asia Pacific

According to Citigroup, it already assigned Chris Laskowski to become its COO or Chief Operating Officer as well as the chief of Financial Entrepreneurs Group for Asia Pacific ex-Japan. Moreover, Laskowski will be coming back to Hong Kong from the Chicago office of Citigroup.

Stake in Hindustan Motors being targeted by Isuzu Motors, GM, Mitsubishi

In the latest development, three car manufacturing firms namely GM, Mitsubishi and Isuzu Motors have been targeting to acquire a stake in Hindustan Motors wherein they are currently under primary negotiations already. The Thiruvallur refinery of Hindustan Motors looms to be the investment-acquire choice.

Alcatel-Lucent to establish services centers in India until 2013

According to the Chief Executive Officer of Alcatel-Lucent, Ben Verwaayen, the firm has been mulling over about establishing its international services centers in India wherein more or less USD 500 million must be spent in a span of three years.

Bank loans in India increase 19.1% year-on-year until June 4

According to the weekly statistical supplement or WSS of central bank, the bank loans in India increased 19.1% until June 4 in the same period last year. Moreover, deposits climbed 14.3% and outstanding loans increased Rs 57,896 crore in the same period last year.

Tata AutoComp to invest Rs 3 billion in FY11 for capacity increase

According to the Chief Executive Officer of Tata AutoComp Systems, RS Thakur, the firm is set to invest Rs 3 billion principal expenditure in the financial year 2010-2011 to increase capacity by establishing fresh Indian refineries while vehicle manufacturing firms struggle a serious output decline.

VIP Industries aims 15% growth in sales in FY11

According to the Chairman of VIP Industries, Dilip G Piramal, the travel bags and luggage manufacturing firm already announced its quarter four results in the financial year 2009-2010 wherein its PAT stood at Rs 9.9 crore versus Rs 1 crore, an 800% increase year-on-year. Its sales are targeted to reach 15% expansion in FY11.

Tata Teleservices, Future Group to introduce cellular services tomorrow

According to Tata Teleservices as well as Future Group, both firms are going to introduce primarily in Andhra Pradesh their cellular telephony services tomorrow. The merger of both firms was made public in the beginning of this year while T24 will be their trademark on GSM platform.

Unity Infraprojects obtains Rs 412 crore orders

The engineering, acquisition as well as building firm, Unity Infraprojects Ltd, already informed the public that it has obtained four latest orders accruing to Rs 412 crore. Therefore, the firm’s order book already surged to a value of Rs 3,890 crore.

Deepak Parekh says inflation is controlled by 75 bps rate surge

In a statement released by the Chairman of Housing Development Finance Corporation or HDFC, Deepak Parekh, he revealed that the present stiffness in the liquidity condition is momentary. Moreover, the inflation is expected to be controlled if there will be a 75 bps climb in rates.

Hindustan Copper to augment mine output to 12 million by 2016

According to the Chairman and Managing Director of Hindustan Copper, Shakeel Ahmed, the firm has been planning to augment the mine outputs to 12 million tonnes yearly from 3.2 million tonnes yearly five to six years from now. Moreover, the firm is looking forward to have a revenue increase of 10-15% within that period.

April to June credit increase expected to be even by Corporation Bank

According to the Executive Director of Corporation Bank, Narendra Singh, the banking firm has been anticipating an even credit increase in the quarter from April to June as against Rs 63,000 crore credit increase in the January to March quarter.

BSE Sensex slumps 0.26% on downbeat market

The BSE 30-share Sensex was down 45.87 points or 0.26% to 17,570.82. The index advanced 105.30 points at the day's high of 17,721.99 in morning trade, its highest level since 27 April 2010. The Sensex lost 91.40 points at the day's low of 17,525.29 in mid-afternoon trade.

The S&P; CNX Nifty was down 12.25 points or 0.23% to 5,262.60. Nifty struck a high of 5,302.30 in early trade, its highest level since 28 April 2010.

The BSE Mid-Cap index fell 0.51% and the BSE Small-Cap index declined 0.50%. Both these indices underperformed the Sensex.

Sectoral indices displayed mixed trend. The BSE Capital Goods index rose the most, by 0.62%.
The BSE Metal index declined the most, by 1.18%.

The total turnover on BSE amounted to Rs 4446 crore, lower than Rs 4577.70 crore on Wednesday, 16 June 2010.

Market Breadth:

Positive 1019 Negative 1784 Unchanged 96
From the 30 share Sensex pack, 18 fell and rest rose.

Reliance Industries aims to acquire 26% stake in Fortis

According to the billionaire brothers in India, Malvinder and Shivinder Singh, the owners of Fortis Healthcare, Reliance Industries is likely to embark on a healthcare venture by acquiring a 26% stake in hospital unit, Fortis Healthcare. Moreover, Fortis has been planning to accumulate utmost USD 1.2 billion.

Uflex aims Rs 4,600 crore revenue in FY13

In a statement released by the President for Finance of Uflex, RK Jain, he revealed that as the firm attained net revenues of Rs 2,300 crore in the financial year 2009-2010, it has been aiming to make twofold the revenue to around Rs 4,600 crore in the financial year 2012-2013.

Rs 1,394 crore pact attained by Punj Lloyd Group

According to the Chairman of Punj Lloyd Group, Atul Punj, the firm’s unit Sembawang Engineers and Constructors already attained a key pact with a value of Rs 1,394 crore from Resorts World Sentosa, a Genting Group’s unit. Moreover, Sembawang is among the major engineering and construction firms in Southeast Asia and MENA.

L&T; obtains fresh orders with value of Rs 1,440 crore

According to Larsen & Turbo or L&T;, the Buildings & Factories Operating company, its Construction Division subsidiary, already obtained orders with an amount of Rs 1,440 crore for the purpose of building residential towers, rural community as well as refinery structures.

26% stake in Pipavav to be acquired by Reliance Industries

In a latest development, according to the Chairman of SKIL Infrastructure, Nikhil Gandhi, the Reliance Industries has been mulling over to acquire 26% stake in Pipavav Shipyard, a shipbuilding firm. In addition to that, SKIL Infrastructure has been managing Pipavav at present.

Arvind to invest Rs 200 crore to increase fabric capacity

According to the Chief Financial Officer of Arvind Ltd, Jayesh Shah, the textiles manufacturing firm has been planning to invest Rs 200 crore in the financial year 2010-2011 in order to increase fabric production in pants as well as shirts by 10%.

CEO of Sony Corp receives $4.5 million in FY10

According to the statement made by Sony Corp, Howard Stringer, the chief executive officer of the firm, already received USD 4.5 million in the financial year 2009-2010 which is the largest among the senior official working in a Japanese company.

Jaypee Fertilisers acquires 50% stake in Duncans Industries

According to the statement made by the Chairman of Duncans Industries, GP Goenka, he revealed that Jaypee Fertilisers already acquired 50% in the firm wherein the revenues are being expected to hit more or less Rs 200 crore in the financial year 2010-2011.

Reliance Industries to supply gas to Reliance ADAG’s power plants

In a statement released by Chairman Mukesh Ambani of the leading power firm in India, Reliance Industries, he stated that the conglomerate is all set to supply gas to energy refineries being managed by Reliance ADAG, a firm run by his brother Anil Ambani.

Trade secretary says exports in May increase 35% year-on-year

According to Trade Secretary Rahul Khullar, the exports last May increased 35% to a value of USD 16.1 billion in the same period last year while the imports stood at USD 27.4 billion. The nation’s loss in trade broadened to USD 11.3 billion. India aims to achieve around 15% export expansion in FY11.

Indraprastha Gas increases CNG costs by Rs 5.6 per kg

Indraprastha Gas has been planning to increase retail costs of CNG or Compressed Natural Gas by Rs 5.6 every kilogram starting Thursday because of natural gas costs hike. Moreover, in Delhi, the cost of one kilogram of CNG is Rs 27.50 while in neighboring areas it is Rs 30.60.

Reliance Comm could remove from group its DTH, IPTV units to form new firm

Reliance Communications may possibly remove from its group its DTH and IPTV ventures to a separate conglomerate Reliance Digital Works, which could offer 25% stake to international share holders as well as 10% stake to digital cable subscription of MSOs or multi-system operators.

MindTree obtains IT pact from UID

According to the Chief Financial Officer of MindTree, Rostow Ravanan, the firm already obtained an IT pact from unique identity project or UID ‘Aadhaar’. Moreover, the UID order can be considered as among the biggest orders, with reasonable huge value in revenue, from the Indian Government.

Banking, petro, metals, IT, auto to advance by FY11

According to the head of research at brokerage KR Choksey, Kunal Dalal, company earnings in the financial year 2010-2011 may possibly increase by 26.5% with advancements coming from banking, petrochemicals, metals, IT and auto while deficits may be witnessed by cement and telecom firms.

Atul Auto aims to double auto production by 2012

In a statement released by the Director of Atul Auto, Vijay Kedia, he verified that the firm is currently holding a principal expenditure of around Rs 30 crore in the financial year 2010-2011. At present, the firm has produced 24,000 autos and plans to double the output by 2012.

Reliance Power unit to construct 1,200 MW Rosa Power Project in 2012

Reliance Power already commenced producing energy emanating from Rosa Power Project’s unit II wherein 300 Megawatt output was brought into line last June 15, 2010. Moreover, the 100% subsidiary of Reliance Power, Rosa Power Supply Company, will construct 1,200 Megawatt Rosa Power Project in UP in 2012.

Simbhaoli Sugar in talks with global firms for stake sale in SPV

According to the Chief Financial Officer of Simbhaoli Sugar Mills, Sanjay Tapriva, the firm has been under negotiations with international conglomerates to put on sale its 45% stake in Kandla refinery SPV. Moreover, the firm looms to maintain its 55% stake in the SPV.

India’s food price index climbs 16.12% year-on-year

In the statistics made public by the government, it showed that the food price index of India increased 16.12% until June 5 in the same period last year whereas the fuel price index soared 13.18% year-on-year. Moreover, the primary articles index rose 16.86%.

Fortis finds difficulties to have merger for international financing

According to Fortis Healthcare, the firm is currently experiencing difficulties to have a joint venture for its international financing wherein it could possibly merge at present for the Parkway offer. Moreover, the firm entails USD 2.4 billion to create a common open offer for Parkway.

BSE Sensex climbs 0.88% as market remains upbeat again

The BSE 30-share Sensex jumped 153.82 points or 0.88% to 17,616.69, its highest closing since 27 April 2010. The index advanced 184.55 points at the day's high of 17,647.42 in late trade.
The Sensex fell 67.97 points at the day's low of 17,394.90 in afternoon trade.

The S&P; CNX Nifty was up 41.50 points or 0.79% to 5,274.85, its highest closing since 30 April 2010. It struck a day's high of 5,285.55 in late trade.

The BSE Mid-Cap index gained 0.41% and the BSE Small-Cap index rose 0.58%. Both these indices underperformed the Sensex.

Except the BSE Consumer Durables index, all the other sectoral indices on BSE logged gains. The BSE Consumer Durables index lost 0.10%. The BSE Auto index surged the most, by 1.78%.
The total turnover on BSE amounted to Rs 4556 crore, lower than Rs 4821.86 crore on Wednesday, 16 June 2010.

Market Breadth:

Positive 1544 Negative 1339 Unchanged 104
From the 30 share Sensex pack, 21 rose and rest fell.

ICICI Venture leases services of past head of Babcock India

According to the Chief Executive Officer of ICICI Venture, Vishakha Mulye, ICICI Bank’s private equity unit already leased the services of the previous head of India subsidiary of Babcock & Brown Infrastructure, Manikkan Sangameswaran, to lead ICICI Venture’s infrastructure operations.

Quippo-WTTIL seals 5-year pact with IBM

In a statement released by Quippo-WTTIL, a telecoms tower conglomerate, this Thursday, the firm already sealed a pact with IBM for five years with a value of multi-million dollar. In addition to that, IBM has been tasked to give technical aid to fix Quippo-WTTIL’s IT network system.

AOL looms to put on sale Bebo to Criterion Capital

AOL Inc seems likely to put on sale Bebo, a social networking website, to Criterion Capital Partners, a private assets conglomerate. Moreover, Bebo was acquired by AOL around 2008 for a value of USD 850 million. AOL has been planning currently to restructure its operations.

HSBC targets profit expansion, more exposure in China

According to the Chairman of HSBC Holdings, Stephen Green, the firm has been expecting a profit expansion as well as more exposure in China. In addition to that, HSBC has been planning to list its shares in Shanghai wherein its IPO may possibly be launched by December 2010.

Joint venture to be announced on Thursday by Fujitsu, Toshiba

Fujitsu Ltd, a firm based in Japan, as well as Toshiba Corp already gave its consent to have a joint venture for their cellular phone operations four months from now wherein the pact is scheduled to be announced this coming Thursday.

ArcelorMittal targets to acquire stake in Ramsarup Industries

In a latest development, the global leader in manufacturing steel, ArcelorMittal, has been targeting to acquire a stake in Ramsarup Industries, steel and wire manufacturing firm India. Moreover, Ramsarup is currently under negotiations with international conglomerates for tactical stake sale.

Aptech to make more exposure in Russian market

In a statement released by a senior official of Aptech, he revealed that the firm has been planning to make twofold its exposure in the market of Russia two years from now. Furthermore, the firm already sealed partnerships with 15 universities and aims to increase its centers to 75 in FY11 from 25.

Standard Chartered, Agricultural Bank seal tactical merger deal

In a statement released by Standard Chartered Bank Plc, the firm already embarked on a deal with Agricultural Bank of China for purpose of creating a tactical shared business enterprise. Both banks already approved to look for mutual development of emerging industries.

Pipavav says IPO of SKIL Infra to be introduced by December 2010

According to the Chairman of Pipavav Shipyard, Nikhil Gandhi, the initial public offer or IPO of SKIL Infrastructure has been being anticipated to be introduced by December 2010. Moreover, Pipavav Shipyard looms to submit DRHP of Skil Infra with SEBI until August 2010.

DHRP for FPO already submitted by Engineers India

In a statement released by Engineers India Ltd or EIL, the firm revealed that it already submitted DRHP or Draft Red Herring Prospectus for its FPO or Follow-on Public Offer with SEBI. Moreover, the FPO is comprised of 33,693,660 equity shares with a value of Rs 5 apiece.

Afghanistan, India under talks for gas, oil, minerals

The Mining Ministers of Afghanistan as well as India is under negotiations this Tuesday because Afghanistan desires firms in India for gas, oil and valuable minerals discovery process. Moreover, BK Handique, the Mines Minister of Afghanistan, stated that a geologist group from its country will arrive in India next month.

25-30% revenue expansion in FY11 aimed by TTK Prestige

According to the Managing Director of TTK Prestige, S Ravichandran, the firm is currently expanding on a rate range of 25% to 30% since 2003-2004. Moreover, it has been anticipating a 40% expansion in stoves and electrical sectors as well as 20-25% growth in pressure cookers and cookware sector.

Rs 500 crore top-line in FY11 eyed by TT

In a statement released by the Joint Managing Director of TT, Sanjay Kumar Jain, he revealed that the firm has been expecting to attain around Rs 500 crore top-line in the financial year 2010-2011 which is more or less 30-40% rise as compared in the FY10.

Standard Chartered’s PE subsidiary targets 3-4 Indian firms in 2010

According to the Managing Director of the Indian subsidiary Standard Chartered Private Equity, Nainesh Jaisingh, the firm has been aiming to acquire stakes in three to four corporations in India by the conclusion of this year. Moreover, the firm controls around USD 2 billion in Asian investments.

Emami Group to increase exposure in Egypt, Africa

In a statement released by the President and Chief Financial Officer of Emami Group, NH Bhansali, he revealed that the firm has been targeting to increase its exposure in Egypt by means of constructing a refinery as well as to embark on emerging markets in Africa.

Everest Industries eyes Rs 900 crore revenues in FY11

According to the Managing Director of Everest Industries, ML Gupta, the firm has been eyeing to achieve Rs 900 crore revenues in the financial year 2010-2011 wherein it also plans to introduce fresh merchandise in 2010 and to embark on exportation of its products.

NTPC eyes to acquire stake in coal mines in Australia

In a statement released by the Chairman of the nation’s leading energy unit NTPC Ltd, R S Sharma, the firm has been targeting to acquire stakes in Australian coal mines particularly in New South Wales as well as Queensland because of several assets of black coal in the area.

IRB Infra to embark on cement, power industry

IRB Infrastructure Developers, a toll-road operating firm in India, has been aiming to embark on cement as well as power industry while the firm targets to increase its exposure in some emerging parts of road and rail network segment of India, according to its Chairman Virendra Mhaiskar.

C&C; Construction eyes 50% rise in PAT in FY11

In a statement released by the Chairman of C&C; Construction, GS Johar, the firm has been expanding 45-50% in compounded growth rate as of the present time wherein 45% is eyed to be sustained during the current financial year as well as 50% rise in PAT.

BSE Sensex surges 0.29% on compounded market

The BSE 30-share Sensex was up 50.04 points or 0.29% to 17,462.87, its highest closing since 30 April 2010. The index advanced 117.55 points at the day's high of 17,530.38 at the onset of the trading session. The Sensex lost 5.53 points at the day's low of 17,407.30 in afternoon trade.

The S&P; CNX Nifty was up 11 points or 0.21% to 5,233.55, its highest closing since 30 April 2010. Nifty struck a day's high of 5,255.65 in early trade.

The BSE Mid-Cap index gained 0.13% and the BSE Small-Cap index rose 0.17%. Both these indices underperformed the Sensex.

The total turnover on BSE amounted to Rs 4802 crore, lower than Rs 5052 crore on Tuesday, 15 June 2010.

Sectoral indices on BSE displayed mixed trend. The BSE Auto index surged the most, by 1.29% while the BSE PSU index declined the most, by 0.64%. Reliance Infrastructure (down 0.89%), Cipla (down 1.44%), and NTPC (down 1.19%), edged lower from the Sensex pack.

Market Breadth:

Positive 1520 Negative 1388 Unchanged 100
From the 30 share Sensex pack, 16 fell and rest rose.

Indian subsidiary of Vedanta targets importation of 300,000 tonnes coal

In a statement released by an executive officer of the subsidiary in India of Vedanta Resources Plc, a firm that is based in London, the conglomerate has already made an issuance of mark offer for importation of 300,000 tonnes of steam coal.

2.99 million shares in IPO to be tendered by Technofab Engineering

According to the Technofab Engineering, is set to tender an IPO or initial public offering with 2.99 million shares that is scheduled to be launched by June 29 and will conclude in July 2. Moreover, the conglomerate has been aiming to accrue Rs 75-80 crore though IPO.

Crompton Greaves national profit may increase to 70% by 2012

In a statement released by the Managing Director of Crompton Greaves, SM Trehan, he revealed that the firm has been targeting 15-20% guidance this financial year 2010-2011 for national operations. Therefore, the 33% profit from international units at present may decline to 30% by 2012 while 67% national profit may rise to 70%.

Hero Group optimistic to close merger extension deal with Honda

According to the Chairman of Hero Corporate Services, Sunil Munjal, Hero Group has been aiming to look at opportunities for merger extension with Honda Motor Company of Japan wherein both firms are optimistic to seal a deal three years from now.

Government approves EU exportation of 10,000 tonnes of white sugar

According to the government, it confirmed that it allowed a trade panel to sell 10,000 tonnes of white sugar overseas particularly to European Union this 2010 by September. Thus, Indian Sugar Exim Corp Ltd will be following this policy if its imports are also of the same amount in FY10.

CEO of SpiceJet decides to postpone monetary accumulation

In a statement released by the Chief Executive Officer of SpiceJet Ltd, Sanjay Aggarwal, the firm already decided to postpone its schemes of accumulating USD 75 million funds which it aimed last month by means of selling shares in the country or abroad.

Reliance Comm may possibly merge towers with GTL

India’s Reliance Communications’ telecoms tower arm may possibly merge its tower equities with GTL Infra, its minor competitor, to get a return money worth Rs 15,000 crore or USD 3.2 billion as well as an essential stake in the latest subsidiary.

Etisalat targets to increase stake in merger unit in India

In the recent development, Etisalat Group of UAE already made volition to increase its stake in its shared business enterprise in India with DB Realty. As of the moment, the firm has a 44.73% ownership in Etisalat DB as it aims to eventually run the business of Etisalat DB.

Twilight Litaka Pharma eyes Rs 2,500 crore turnover in FY13

In a statement released by Gopal Rammourti, the Managing Director of Twilight Litaka Pharma, the firm has already aimed to attain around Rs 2,500 crore through turnover in the financial year 2012-2013. Moreover, it anticipates around 20% or more EBIT until 2014 and PAT of nearly 10%.

DQ Entertainment International seals an agreement with Sun TV Network

According to the statement released by DQ Entertainment International, an animation as well as gaming services provider, the firm already sealed an agreement with Sun TV Network for the purpose of offering animated content. Thus, the firm has now increased its shares at around 8%.

50-60% revenue expansion in FY11 targeted by Everonn Education

According to the Managing Director of Everonn Education, P Kishore, the firm has been targeting to attain more or less 50-60% expansion of revenue in the financial year 2010-2011. Moreover, it achieved around 103% revenue increase in the previous financial year 2009-2010.

Cipla to purchase 40% and 25% stakes in two biotech firms

According to the Chairman and Managing Director of Cipla, Dr YK Hamied, the leading pharmaceutical firm already spent USD 65 million in order to purchase nearly 40% stake in a biotech conglomerate in India and 25% stake in a firm established in Hong Kong.

HDFC Asset acquires telecom, oil & gas businesses

In the latest development, according to HDFC Asset Management Fund, the firm already improved its exposure in telecommunication and oil & gas businesses while it put on sale its shares in automotive, banking & financial services and engineering & capital goods businesses.

Birla Sun Life puts on sale its food & beverages business

According to Birla Sun Life Asset Management Company, the firm witnessed buying interest from investors in its chemicals, oil & gas and banking & financial services businesses while it put on sale its food & beverages, engineering & capital goods and metals & mining businesses.

Reliance Capital puts on sale metal, mining, engineering businesses

In a statement released by Reliance Capital Asset Management, the firm already put on sale its businesses in engineering and capital goods, services segments and metal & mining while the company witnesses buying interest from banking & financial services, automotive segment as well as oil & gas.

IPO of Fatpipe Networks India retracted already

According to the statistics released by the NSE website, the public issue of Fatpipe Networks India with a value of Rs 49 crore was already retracted by the firm because its IPO or initial public offering only obtained 0.88 times subscription which was short from at least 0.9 times subscription mark.

BSE Sensex witnesses 0.43% expansion as majority of the sectors rise

The BSE 30-share Sensex was up 74.66 points or 0.43% to 17,412.83, its highest closing since 30 April 2010. The index jumped 104.33 points at the day's high of 17,442.50 in late trade.
The Sensex fell 88.71 points at the day's low of 17,249.46 in early afternoon trade.

The S&P; CNX Nifty was up 24.65 points or 0.47% to 5,222.35 its highest closing since 3 May 2010. Nifty struck a day's high of 5,231.45 in late trade.

The BSE Mid-Cap index gained 0.38%, underperforming the Sensex. The BSE Small-Cap index rose 0.85%, outperforming the BSE Sensex.

Nine out of 13 sectoral indices on BSE logged gains. The BSE Realty index (up 2.60%), the BSE PSU index (up 1.61%), and the BSE FMCG index (up 1.55%), were the top gainers among the sectoral indices on the BSE

The BSE Oil & Gas index (down 0.55%), the BSE IT index (down 0.54%), and the BSE Auto index (down 0.23%), were the top losers among the sectoral indices on the BSE

Market Breadth:

Positive 1669 Negative 1234 Unchanged 93
From the 30 share Sensex pack, 21 rose and rest fell.

Fortis Healthcare 140 to 152 in 2 days

Our Free Stock Tip:

9th June

Buy & Hold around 140 for short to medium term

Expect returns from 10% to 30%

11th June

Fortis Healthcare touched 152 in just 2 days

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BSE Sensex climbs 0.84% as oil & gas, banking sectors progress

The BSE 30-share Sensex rose 142.87 points or 0.84% to 17,064.95. The Sensex rose 209.48 points at the day's high of 17,131.56 in mid-morning trade. The Sensex rose 71.99 points at the day's low of 16,994.07 in early trade.

The S&P CNX Nifty rose 40.75 points or 0.8% to 5119.35.

The BSE Mid-Cap index rose 0.28%. The BSE Small-Cap index rose 0.44%. Both the indices underperformed the Sensex.

Most of the sectoral indices on BSE rose. BSE Oil & Gas index (up 1.67%), Banking sector index Bankex (up 1.04%), Capital Goods index (up 1.01%), Auto index (up 0.98%), Power index (up 0.87%) outperformed the Sensex.

BSE Healthcare index (down 0.55%), Teck index (down 0.48%), Realty index (down 0.26%), Consumer Durables index (down 0.24%), PSU index (down 0.02%), IT index (up 0.08%), Metal index (up 0.22%), FMCG index (up 0.31%), underperformed the Sensex.

BSE clocked turnover of Rs 4147 crore, higher than Rs 3602.05 crore on Thursday, 10 June 2010.

Market Breadth:

Positive 1539 Negative 1326 Unchanged 104
From the 30 share Sensex pack, 21 rose and rest fell.

Reliance Industries purchases almost all stake in Infotel Broadband

In the latest development, Reliance Industries or RIL already purchased almost all the stake in Infotel Broadband in order to embark on the telecoms industry. In addition to that, the official public declaration about this firm’s key acquisition will be coming out in next to no time.

SK Telecom refutes negotiations with Videocon Telecommunications

In a statement released by the senior official of SK Telecom, the leading cellular service provider of South Korea, he revealed that the firm refuted about the negotiations to acquire a 26% ownership in Videocon Telecommunications, a blossoming cellular service provider in India.

VE Commercial Vehicles to spend Rs 290 crore for capacity rise

According to the merger of Eicher Motors of India and Volvo of Sweden, VE Commercial Vehicles, the firm is set to spend Rs 290 crore in order to accrue production by 85,000 engines annually starting 2012. The firm’s present output in its Pithampur refinery in Madhya Pradesh is 40,000 engines annually.

Costs of cement in South India decrease by Rs 15-20 every bag

The costs of cement from corner to corner of South India already plunged by Rs 15-20 every bag. On the other hand, in the western part of the country, specifically in Pune, the costs fell by Rs 15 every bag. Moreover, the cement costs are even in the north and central regions.

Tata Metaliks seals MoU with Karnataka government

According to the Chief Financial Officer of Tata Metaliks, Subhra Sengupta, the firm already sealed a MoU or memorandum of understanding with the Karnataka government in order to construct a consolidated steel venture of 3 MTPA but there is no exact date for the commencement of the project.

India’s industrial production increases for the seventh straight month

According to the Managing Director of Thermax, MS Unnikrishnan, the industrial production of India increased for the seventh successive month until April which is greatly quicker than the anticipated rate at 17.6% as against 13.5% in the previous month in the same period last year.

NAVs wrapped up the day emphatically

While the benchmark Nifty concluded the session around 80 points above amid of acquisition among every sector, equity diversified NAVs wrapped up the day emphatically soaring with advance:decline ratio of 250:1. In addition to that, every sector witnessed significant attention from buyers.

Hindustan Copper anticipates Rs 4,000 crore fund from issue

According to the Chairman and Managing Director of Hindustan Copper, Shakeel Ahmed, the firm has been anticipating to accrue nearly Rs 4,000 crore via the public issue to be launched in the market this September. The firm also aims to sell 10% stake and accumulate 10% new assets.

StanChart IDR listed at RS 106 versus Rs 104 issue price

StanChart IDR was listed at Rs 106 as compared to Rs 104 issue price. Moreover, Standard Chartered, a banking leader based in Britain, already accumulated Rs 2,490 crore that came from 24 crore receipts.

Rs 330 crore top-line being eyed by Usher Agro in June 30

In a statement released by the Managing Director of Usher Agro, Vinod Chaturvedi, the firm has been targeting to attain above Rs 330 crore for its top-line this year in June 30 while its profitability is being eyed to an approximate value of Rs 24-25 crore.

Reliance Power, Sugico Group of Indonesia in coal mines pact

Reliance Power, a subsidiary in India, already sealed a deal with Sugico Group of Indonesia to purchase three coal mines with a 5 billion rupees advance recompense. The entire amount of the pact will increase to USD 1.6 billion in cases payment is made by Reliance Coal Resources and accomplished goals in capacity.

Orbit Corp aims to accrue Rs 1,000 crore through QIP

According to the Managing Director of Orbit Corporation, Pujit Aggarwal, the top level management of the realty developing firm has set to have a conference in June 18 for giving nod to accumulate Rs 1,000 crore by means of QIP or qualified institutional placement.

Rs 575 crore to be spent by IL&FS Fund in property subsidiary

IL&FS Milestone Fund, a private equity company, has been aiming to spend Rs 575 crore or USD 122.3 million to acquire 74% stake in property subsidiary of Hindustan Construction Co. Moreover, the agreement is anticipated to be informed in the public this Thursday.

Infosys Technologies arm eyes 15-20% revenue in FY11

According to the Chief Executive of Infosys BPO, D. Swaminathan, the subsidiary of India’s top-two software exporting firm Infosys Technologies has been eyeing revenue to increase 15-20% in the current financial year until March next year. The net profit margin is targeted at 20-22%.

Kalanidhi Maran of Sun TV eyes stake acquisition in SpiceJet

In a statement released by Sun TV promoter, Kalanidhi Maran has been eyeing to acquire a stake in SpiceJet from WL Ross as well as India Asset Recovery Fund (IARF) wherein the agreement will possibly be closed in the coming days.

Food, fuel price index improve until May 29 YoY

According to the figures revealed by the government this Thursday, the fuel price index surged 14.23% until May 29 in the same period last year as against the 14.14% recorded last week YoY. Moreover, the food price index expanded 16.74% versus the previous 16.55%.

Mahindra & Mahindra to commence appropriate industry on Ssangyong

According to Pawan Goenka, the President of Mahindra & Mahindra, the leading auto and truck manufacturer of India is scheduled to commence the appropriate industry in one month or one and a half month on Ssangyong Motor, an SUV manufacturing firm in Korea.

Government suspends judgment on selling of stake in Coal India

According to BK Handique, the Mines Minister, the government suspended a judgment on selling of stake in Coal India, a nation-controlled firm, as well as Hindustan Copper Ltd wherein the value of the deal may possibly have been at maximum of USD 3.7 billion.

Bharti Airtel, VMware in joint venture for cloud computing business

In a statement released by Bharti Airtel, it revealed that the company has already made a tie-up with the American software manufacturing firm, VMware Inc, in order to concentrate on the cloud computing industry. Moreover, VMware is the leading manufacturer of virtualization software.

Rs 747 crore order obtained by Larsen & Tourbo

According to the full-time Director and President-Construction (ECC) of Larsen & Tourbo, KV Rangaswami, the leading construction firm already obtained an order with a value of Rs 747 crore for material handling ventures wherein around Rs 200 crore from this is to be carried out this FY11.

Orient Green Power to be listed this year: Shriram EPC

According to T Shivaraman, the engineering as well as construction company Shriram EPC, has been anticipating to list Orient Green Power, its 35.8% subsidiary, this year. The unit of Shriram EPC is undertaking a 200 Megawatts wind and biomass venture with Rs 9 billion IPO documents filed last April.

IPO of Fatpipe closing date reset from June 9 to June 14

Fatpipe Networks India will be lengthening Fatpipe IPO, its public issue, from conclusion schedule in June 9 to June 14 since gloomy reactions were witnessed from stockholders. Moreover, the firm altered its price range from Rs 82-85 to Rs 80-85 each share.

Parabolic Drugs scheduled to launch IPO in June 14

Parabolic Drugs recommends to embark on principal trade exchanges by means of an initial public offer or IPO of equity shares in order to accumulate fund with utmost value of Rs 200 crore. Moreover, the IPO is scheduled on June 14, 2010 to be launched and subscribed. The conclusion is on June 16-17, 2010.

Hotel Leela eyes high level of occupancy to be maintained this FY11

According to the Vice Chairman and Managing Director of Hotel Leela, Vivek Nair, the firm witnessed an increase in revenues in the first quarter of the financial year 2010-2011 starting last April with 80-90% occupancy. The firm also believes that high level of occupancy will be maintained this financial year.

Government targets selling of shares in 35 firms until 2015

In a statement released by Arun Yadav, the Minister of State for heavy trades and communal businesses, the government has been targeting to have shares sale in 35 nation-controlled firms until 2015 wherein around USD 32 billion is aimed to be accrued.

Manufacturing at Chennai refinery continued by Hyundai Motors

According to the representative of Hyundai Motors, the manufacturing at the firm’s Chennai refinery already continued amid the resumption of strike for some laborers in the minority group on the third day. In addition to that, the majority of the laborers got back to perform their duties.

Indian Oil Corp excluded in government list for stake sale

According to Sumit Bose, the Disinvestment Secretary, the government-managed oil trading firm Indian Oil Corp is presently excluded in the list of companies in which the government will make stake sale. Moreover, the government already fixed a goal of around USD 8.5 billion from it.

Fortis aims to accrue Rs 2,750 crore via securities

According to Ranjit Kapadia, the equities analyst with HDFC Securities, Fortis Healthcare has been aiming to accumulate Rs 2,750 crore or USD 585 million through issuance of securities. Moreover, the firm’s top level management already gave consent on augmenting its borrowing maximum value to Rs 6,000 crore.

 

Free Stock Tip:

 

Buy & Hold around 140 for short to medium term

Expect returns from 10% to 30%

Rs 20,000 crore rights issue eyed to be introduced by SBI in FY11 H2

According to the latest statement by Chairman of State Bank of India or SBI, OP Bhatt, the nation’s biggest lending firm has been anticipating to introduce Rs 20,000 crore rights issue in the months ranging from July to December of the financial year 2010-2011.

Vishal Retail eyes Rs 360 crore sales in Q1 FY11

According to Vishal Retail’s Chairman, RC Agarwal, the firm has been making progress concerning the sales front wherein its sales in the quarter one of the financial year 2009-2010 was Rs 265 crore and now being predicted to attain an increase to Rs 360 crore this current financial year.

BSE Sensex climbs 0.25% as metal, healthcare sectors lead surge

The BSE 30-share Sensex rose 40.79 points or 0.25% to 16,657.89. The Sensex rose 200.59 points at the day's high of 16,817.69 in early afternoon trade. The Sensex fell 25.84 points at the day's low of 16,591.26 in mid-afternoon trade.

The S&P CNX Nifty gained 13.20 points or 0.26% to 5,000.30.

The BSE Mid-Cap index rose 0.48%. The BSE Small-Cap index rose 0.29%. Both the indices outperformed the Sensex.

Most sectoral indices on BSE rose. BSE Metal index (up 1.54%), Healthcare index (up 1.36%), Oil & Gas index (up 1.28%), Realty index (up 0.92%), PSU index (up 0.7%), Capital Goods index (up 0.68%), Banking sector index Bankex (up 0.63%), Auto index (up 0.35%), and Consumer Durables index (up 0.26%), outperformed the Sensex.

BSE FMCG index (down 2.41%), IT index (down 1.26%), Power index (down 0.22%), Teck index (down 0.19%), underperformed the Sensex.

BSE clocked turnover of Rs 3882 crore, higher than Rs 3464.09 crore on Tuesday, 8 June 2010.

Market Breadth:

Positive 1483 Negative 1309 Unchanged 108
From the 30 share Sensex pack, 19 rose and rest fell.