BSE Sensex expands 1.49% as market in upbeat mode

The BSE Sensex was up 271.22 points or 1.49% to 18,503.28, its highest closing level since 13 May 2011. The Sensex jumped 294.74 points at the day's high of 18,526.80 in late trade. The index rose 34.55 points at the day's low of 18,266.61 in early trade.

The S&P CNX Nifty was up 87.05 points or 1.59% to 5,560.15, its highest closing level since 11 May 2011. The Nifty hit a high of 5,571.60 in late trade.

The BSE Mid-Cap index rose 1.8% and outperformed the Sensex. The BSE Small-Cap index gained 0.99% and underperformed the Sensex.

BSE clocked turnover of Rs 3018 crore, higher than Rs 2467.57 crore on Monday, 30 May 2011.

Market Breadth:

Positive 1835 Negative 1007 Unchanged 104
From the 30 share Sensex pack, 29 rose and rest fell.

Timbor Home IPO invested 50 percent on Day 1

There were so many shareholder interests in the IPO of Timbor Home, a producer-retailer comprising a pan-India presence with over 80 exclusive stores of kitchen, on Day 1. The retail component of the issue has been absolutely invested (1.44 times) on Day 1 as of 5 pm on May 30, 2011.

Scouting for oil-manufacturing assets abroad, Oil India head says

Oil India, an explorer run by the state, is aiming to purchase oil-manufacturing assets abroad, according to Chairman NM Borah on Tuesday, although he did not give any information on the expected locations.

IDBI Bank targeting share sale to enhance capital base

IDBI Bank, a lender business run by the state, may deem over increasing funds via a follow-on share sale in the recent fiscal year to enhance its capital base, according to senior official on Tuesday, joining other lenders collecting tenders to enhance development and achieve increasing credit demands.

R K Bammi is the fresh retail banking ED at Axis Bank

Private sector lender Axis bank has endorsed R K Bammi to the seat of executive director (retail banking) with effect from June 1. He is recently the president and head-retail banking.

Production slashes to keep on for another fortnight

The 1/3 production slash recently being trailed by the spinning mills in the nation is expected to keep on for another fortnight, just as there is minor development in yarn take off.

Banks’ NPAs may increase because of rate hikes, CBI’s Sridhar

Central Bank of India’s Chairman and Managing Director S Sridhar at the moment told that non-performing assets (NPAs) for the business are expected to elevate, as few smaller firms that had borrowed on a low rates regime, seeing it hard to service their loans because of increase in rates.

HSBC assigns Chetan Patni as MD and head of equities

In the latest development, Global banking major HSBC, at the moment declared the scheduled time of Chetan Patni as the Managing Director and Head of its equities in India.

TCS to supply software for Middle East co

Top software services trader Tata Consultancy Services Limited (TCS) on Tuesday has told that a unit of Ahli United Bank had chosen the Indian company’s banking platform for its brokerage operation in Qatar.

IOC to increase petrol costs from June 1

Indian Oil Corporation, owned by the state, the country’s biggest fuel retailer, on Tuesday declared that petrol costs will increase by Rs 1.35 per liter with effect from June 1.

Reliance Communication tells that it obtains offers for venture in tower arm

Debt-laden telecom company Reliance Communications on Tuesday has told that it had obtained a few bids for its 95 percent venture in its tower arm, an action witnessed as targeted at alleviating shareholders following a day that it accounted a fall in revenue.

BoI increases retail deposit rates by 25-75 bps for 2-8 years

Public sector lender Bank of India (BoL), for the first time in 2011-12, increased its retail deposit rates by 25-75 basis points on maturities of two years up to eight years.

Schneider electric to purchase 74 percent venture in Luminous Power

French company Schneider Electric has told on Tuesday will endow Rs 1,400 crore to purchase a 74 percent venture in India’s Luminous Power technologies Private Limited, which is involved in supplying inverters, UPS and power storage systems for dwellings and small and average size industries.

Omaxe expects infra purchase book increase to Rs 18 - 19 billion

Omaxe Limited hopes its infrastructure purchase book increasing to Rs 18-19 billion in Fiscal Year 2012 as it anticipates acquiring a number of administration deals this year, according to a prominent executive on Tuesday.

Master repo deal not must for administration liability repo, RBI says

The Reserve Bank of India has cleared on Tuesday that a master repo deal completed by the Fixed Income Money Market and Derivatives Association of India was not compulsory for repo deals in administration bonds arranged via a central counter party.

Edserv hopes net increase 30 percent in Fiscal Year 2012, administration purchases growing

Education services provider Edserv Softsystems anticipates Indian administration purchases worth Rs 400-500 million in the recent fiscal for skill enhancement services and infrastructure, according to a prominent official on Tuesday.

Sezal Glass sells float glass venture to Saint-Gobain

Sezal Glass has traded its float glass industry to Saint-Gobain India for Rs 686 crore. The trade was completed on slouch sale basis, according to the firm in a notice to stock exchanges. A slouch sale comprises a transfer or sale of an undertaking for a chunk total consideration.

Expert outlooks on March period GDP data

India’s financial system increased by a slower-than-anticipated 7.8 percent in the March period from the previous year, according to the shown government data on Tuesday.

GDP development plunges to 7.8 percent in 4th period as against 8.2 percent in 3rd period

India’s GDP for the 4th period (January - March) increased 7.8 percent (at its most sluggish tempo in five periods), as against with 8.2 percent in the 3rd period.

SCI facilities to collect $ 500 - 600 million Fiscal Year 2012 through ECBs

Shipping Corporation of India, India’s biggest shipping services company, aims to collect $ 500-600 million via external commercial borrowing in fiscal Year 2012 fund increase, according to a prominent experience on Monday.

BSE Sensex dips 0.19% as market sinks to start the week’s trading

The BSE Sensex was down 34.04 points or 0.19% to 18,232.06. The Sensex jumped 114.07 points at the day's high of 18,380.17 in early trade, its highest level since 20 May 2011. The index fell 66.58 points at the day's low of 18,199.52 in mid-morning trade.

The S&P CNX Nifty was down 3 points or 0.05% to 5,473.10. The Nifty hit high of 5,509.30 in early trade, its highest level since 20 May 2011.

The BSE Mid-Cap index rose 0.85% and the BSE Small-Cap index gained 0.55%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2456 crore, lower than Rs 3237.72 crore on Friday, 27 May 2011.

Among the 30-member Sensex pack, 16 stocks fell while the rest of them rose.

Market Breadth:

Positive 1646 Negative 1150 Unchanged 109
From the 30 share Sensex pack, 16 fell and rest rose.

Stay away from Timblor Home IPO, MLR Securities says

Timblor Home (THL), a producer-retailer comprising a Pan-India existence with over 80 exclusive stores of kitchen, door and furniture retail branches, has launched its initial public offer of 36.9 lakh equity shares for subscription.

Run poll to know post-green revolution matters, Pachauri says

Highlighting post-green revolution setbacks such as decreasing water table and water toxicity, noted environmentalist R K Pachauri at the moment recommended the administration performing a poll in a number of states.

Mah Satyam to supply second break to women professionals

With an outlook to move the potential of those women professionals, who look for to start over their career following a gap, Mahindra Satyam, label identity of Satyam Computers, has opened a recruitment initiative, dubbed as ‘Starting Over’.

Hexaware obtains purchase worth $ 25 million

IT solutions provider Hexaware at the moment has told that it has obtained a $ 25 million purchase from an existing client to supply Remote Infrastructure Management Services (IMS).

Geodesic in discussions to purchase mobile payment company based in the US

Communication products manufacturer Geodesic is in discussions to purchase a mobile payments company based in the US and sees to close a transaction by August, according to a prominent executive on Monday.

Lanco Infratech deems offer for Australia’s Premier Coal

Infrastructure developer Lanco Infratech is mulling over an offer to purchase Australia’s Premiere Coal, owned by coal-to-retail corporation Wesfarmers, according to a prominent executive.

Pipavav Shipyard obtains $ 660 million navy purchase

Pipavav shipyard Limited on Monday has told that it acquired a purchase from the Indian Navy worth Rs 2975 crore ($ 659.6 million) and swung to a merged net profit in entire year Fiscal year 2011, sending its share up as much as 3.75 percent.

Take solutions reports more than 100 per cent increase

TAKE Solutions, the Supply Chain Management and Life Sciences provider based in Chennai, has accounted more than 100 per cent increase on its net profits for the year the closed on March 31, 2011.

Gold Gym to launch 25 additional centers in India this year

International fitness chain, Gold Gym, aims to launch 25 additional gyms in India at an endowment of more or less Rs 70 crore this year, according to a senior firm executive.

March period increase expected at 8.2 percent YoY

Median prediction from a survey of 28 economists is for a yearly increase of 8.2 percent in the period through March, unmoved from the previous period.

Sun Pharma expects Fiscal Year 2012 profit increasing 28 - 30 percent

Sun Pharmaceutical Industries sees earnings to increase 28-30 percent in the year that closed in March 2012, according to a prominent firm official on Monday. Earnings in 2010-11 had increased 43 percent to Rs 5,721 crore ($ 1.3 billion).

India’s new trading plans to control carbon emissions

India is taking a special means to control carbon emissions, waging huge on two market-based trading plans to support energy effectiveness and green power.

PVR panel nods share buyback

Multiplex and cinema hall operator PVR limited late on Friday has told its board had commended a buyback from equity shares at a price not surpassing Rs 140 per share for a sum of Rs 2,622 crore.

India arranges to be at the peak coal importer in Indonesia

India will exceed Japan to turn into the leading purchaser of Indonesian coal this year, taking in so far as 60 million ton to help achieve India’s growing power demand, according to the Indonesian Coal Mining Association on Monday.

Goldman, Nomura and CS keep bearish calls on Reliance Power

Reliance Power’s 4th period figures announced Friday beat consensus estimates, but analysts tracking the stock at Credit Suisse, Goldman Sachs and Credit Suisse are not interested. The entire three broking companies have upheld their bearish outlook on the stock.

IVRCL obtains purchase worth Rs 893.66 crore

In the latest development, according to Infrastructure firm IVRCL, its water, buildings, power and transportation sectors have acquire purchases worth Rs 893.66 crore.

Reckitt Benckiser hopes to sell Paras’s individual care industry

British consumer merchandise industry Reckitt Benckiser, which purchased privately owned Indian ointments and personal care firm Paras Pharmaceuticals for more or less $ 726 million in the previous year, is aiming to sell the latter’s individual care business, the news said.

Oil may obtain this week on Asian demand, according to poll

Oil costs may obtain this week as shareholders anticipate sturdier Asian demand to hoist the slack from a hold back in the improved market, the results of the newest poll said.

Monsoon rains strike mainland two days in advance

India’s yearly monsoon rains have strike Kerala two days in advance than anticipated, according to weather officials on Sunday, enhancing opportunities for a harvest that could spur Asia’s third-largest economy.

BSE Sensex rises 1.23% as market in green for two straight days

The BSE Sensex was up 221.46 points or 1.23% to 18,266.10, its highest closing level since 20 May 2011. The Sensex jumped 254 points at the day's high of 18,298.64 in mid-afternoon trade. The index rose 42.52 points at the day's low of 18,087.16 in early trade.

The S&P CNX Nifty was up 63.75 points or 1.18% to 5,476.10, its highest closing level since 20 May 2011. The Nifty hit a high of 5,485.80 in intraday trade.

The BSE Mid-Cap index rose 1.48% and outperformed the Sensex and the BSE Small-Cap index gained 0.89% and underperformed the Sensex.

BSE clocked turnover of Rs 2564 crore, lower than Rs 2679.76 crore on Thursday, 26 May 2011.

Market Breadth:

Positive 1716 Negative 1085 Unchanged 130
From the 30 share Sensex pack, 23 rose and rest fell.

Cement demand is expected to increase by 8-9 percent in Fiscal Year 2012, JK Lakshmi

JK Lakshmi cement on Friday has told that demand for cement is expected to increase by 8 percent to 9 percent in the recent monetary year, but the cost of the building material will still be stable in the lack of any pricing conflict.

Indo Asian Fusegear demerge its metering, power industry

Indio Asian Fusegear, an electrical appliance manufacturer, Friday demerger its metering, institutional industry and suggested power venture from the firm for unlocking investor value and tapping additional increase opportunities with effect from April 1.

Oil companies warn to impede jet fuel supplies to Air India

Oil firms owned by the state have been warned to impede jet fuel supplies to Air India following the crash-strapped national carrier constantly defaulted on imbursement of fuel bills.

ABB to endow $ 24 million to arrange new facility in India

ABB will endow more or less $ 24 million (RS 115 crore) to arrange a new facility, which will produce power circuit breakers and surge protection gadgets.

Educomp, India Today create deal to arrange 30 schools

Educomp Solutions Limited has told on Friday its unit Educomp Infrastructure and School Management Limited (EISML) has gone into an agreement with an India Today Group company to arrange schools across India.

Xerox in meetings to transfer ‘few hundred’ jobs to HCL Tech

Xerox Corporation, best known for its printing merchandises, is in talks with HCL Technologies to transfer “a few hundred Xerox people” to India’s No. 4 software services company, according to the Xerox spokesperson.

Jaguar Land Rover to source parts from India, CEO says

In the latest development, Land Rover, a unit of Tata Motors, will source parts from India, according to its Chief Executive Officer or CEO Ralph Speth on Friday.

CLSA lowers Tata Motor to surpass; slashes cost target

CLSA on Friday demoted Indian auto manufacturer Tata Motors to surpass from purchase and cut its cost target to Rs 1,320 from Rs 1,500, quoting lower India volumes and margins.

BHEL expands India’s 1st ultra high voltage transformer

BHEL, a firm run by the state, on Friday has told that it has expanded and tested India’s first very high voltage transformer to be provided to the central transmission efficacy Power Grid Corporation.

Apple iPhone 4 started on in India

Apple’s iPhone 4 is now available at store in India on Friday, almost a year prior to the next generation version of the well-known smart phone was released across the nations.

Reliance Communications gets third tranche of finance from China bank

Reliance Communications has drawn Rs 1,200 crore in the third tranche of financing from China Development Bank to refinance short-term liability the Anil Ambani firm get for purchasing third generation or 3G spectrum.

Dubai’s Rostamani Group looks for to spread out in India

AW Rostamani (AWR), a firm based in Dubai, has told that it will push forward with business opening out schemes in the India after its current acquirement of the dealership rights for Honda vehicles in Delhi.

Crompton greaves purchases US-based QEI for $ 30 million

Electrical equipment manufacturer Crompton greaves has purchased US-based QEI Incorporation for an enterprise worth of more or less $ 30 million. QEI supplies automation systems and merchandises for the management of electric transmission and distribution networks.

Suzon energy approves initial South African wind turbine agreement

Indian wind turbine producer Suzlon Energy has approved its initial South African agreement for supplying turbines and is in meeting with four other clients.

Tiger stakes on fledging Indian e-commerce division

Venture capital company Tiger global Management, supporter of India’s largest online retailer Flipkart, has headed a $ 16 million funding round for Exclusively.in, a members-only Indian fashion and lifestyle e-retailer.

Airtel creates network sharing firm for Africa operation

In the latest development, Telecom major Bharti Airtel will be aggressive on his intensification schemes in Africa. Airtel is expected to have created a network sharing firm for Africa operations.

Aluminum manufacturer Novelis intensifying aptitude

Novelis Incorporated, which recycles beverage cans to produce aluminum merchandises, is intensifying its sheet metal aptitude to hold an anticipated growth in international demand from automakers, according to the firm on Thursday.

Coal M&A;: As companies pursue foreign mines

India’s coal, steel power companies has been looking for coal assets in the foreign land to feed power facilities at home. The nation, which is hungry for energy, focuses to halve a near-14 percent peak-hour power discrepancy within two years.

IIFL may demerge institutional wing

Nirmal Jain-promoted IIFL (once India Infoline Limited) is allowing for a suggestion to demerge its institutional broking industry as well as sell a strategic venture in that body.

Morgan Stanley slashes Tata Motors aim cost to Rs 1,324

Morgan Stanley has slashed the cost aim for Indian automaker Tata Motors to Rs 1,324 from Rs 1,345 although, maintained its “overweight” rating on the stock based on its conventional local sales expectations.

BSE Sensex surges 1.11% as market gains

The BSE Sensex was up 197.40 points or 1.11% to 18,044.64. The index jumped 225.37 points at the day's high of 18,072.61 in late trade. The Sensex rose 15.64 points at the day's low of 17,862.88 in morning trade.

The S&P CNX Nifty was up 63.40 points or 1.19% to 5,412.35.

BSE clocked turnover of Rs 2664 crore, lower than Rs 2885.74 crore on Wednesday, 24 May 2011.

Market Breadth:

Positive 1495 Negative 1286 Unchanged 117
From the 30 share Sensex pack, 24 rose and rest fell.

Aanjaneya Lifecare IPO to register on Friday

In the latest development, the initial public offering or IPO of Aanjenaya, a unit of Finaventure Capital, will be registered on Friday (May 27, 2011) on the BSE and NSE.

Timblor Home IPO arranges price band at Rs 54-63 a share

Timblor Home, a producer-retailer comprising a Pan-India presence with over 80 exclusive stores of kitchen, door and furniture retail branches, is suggesting to launch on May 30, 2011, an initial public offer of 36, 90, 000 Equity Shares of face value of Rs 10 each for cash at price oer Equity Share to be mull over via the Book Building Process.

Diesel, LPG costs is expected to increase from the following month

Following petrol, cost of diesel, LPG and kerosene are expected to be increased the following month when a ministerial panel led by Finance Minister Pranab Mukherjee convenes to deem on passing increase in crude rates to customers.

AAI evaluations ongoing expansion, upgrading vocation

Airports Authority of India (AAI) Chairman V P Agarwal at the moment evaluated the continuing development and upgrading works at the airport in Chennai, according to the officials.

Honda to almost twofold India bike aptitude by 2013

Japan’s Honda Motor Corporation’s Indian bike unit will almost make its production to twofold aptitude for motorbikes in India to 4 million by the first half of 2013, as well as through the construction of a third factory, to achieve the nation’s increasing demand.

Lanco solar consortium obtains Rs 885 crore Mahagenco deal

Lanco Infratech subsidiary Lanco Solar on Thursday will arrange a 75-MW solar power venture at Maharashtra together with Juwi Renewable India at a price of Rs 884.18 crore.

Suven obtains four patent approvals for CNS molecules

Suven Life Sciences on Thursday has told that it has obtained four patents from various nations for its new chemical entities (NCEs) which could be utilized in curing different central nervous system disorders.

Claris obtains approval from Russia to market two generic drugs

Claris Lifesciences has told on Thursday that it has obtained approval from the Russian Ministry of Health to market two intravenous injections, Fluconazole IV and Levofloxacin IV, used to cure different fungal and bacterial diseases, respectively, in Russia.

Zee, Star in joint venture for TV channels allocation

India’s prominent entertainment and distribution firm Zee Turner and Star Den Media Services have created a 50:50 joint venture to be called Media Pro Enterprise India to merge allocation of the channel bouquets of Star and Zee in the nation.

Food inflation increases to 8.55 percent for week that lasted on May 14

Food inflation shot up to 8.55 percent for the week that lasted on May 14, the highest level in four weeks, as costs of fruits, cereals and protein-based merchandises increased.

Suven obtains 4 product patents for several chief market

Suven Life Science has told on Monday it obtained product patent for its new chemical unit, 5-HT compounds applied to cure neurodegenerative diseases such as Parkinson and Schizophrenia from Europe, New Zealand, Australia and Korea.

Lanco Infra association obtains Rs 884 crore solar venture

Lanco Solar, a subsidiary of Lanco Infratech, in association with Juwi Renewable India has been granted a 75 mega watt solar power venture in Dhule area by Marahashtra State Power Generation Corporation.

Accessibility, cost of funds: IFCI’s main concerns

Atul Kumar Rai, Chief Executive Officer & Managing Director of IFCI in an interview told about the effect of loftier interest rates on firm’s profitability.

Coal India aims 477 million ton coal sales in Fiscal Year 2012

Coal India accounted a merged net profit Rs 10,867 crore for 2010-11, up 13 percent more than the previous year. The firm featured the development in bottomline to higher sales from e-auctions and washed coal, which give way better margins than the coal sold beneath the FSA (Fuel Supply Agreement) based advised price sale.

India GDP spotted at 8.2 percent in Fiscal Year 2012, RBI survey says

India’s GDP is expected to increase at 8.2 percent in 2011 -12, as a substitute of 8.5 percent anticipated formerly, the survey of professional forecaster says on macroeconomic gauge, carried out by the Reserve Bank of India (RBI).

India economic development at 8.5 percent in 2011-12: OECD

OECD, a think tank in Paris, at the moment pegged India’s development at 8.5 percent for the recent monetary, signifying that economic expansion would be more sluggish.

Tata Steel executive tells raw material costs to be still high

Tata Steel sees raw materials costs to be still lofty in the recent and the following period, according to its Europe operations Chief Executive Karl-Ulrich Kohler on Wednesday.

RBI reveals interest rate, fx offshoots reporting roposal

A Reserve Bank of India committee honing over the counter interest rate and forex derivative accounting suggested on Wednesday that the Clearing Corporation of India should be the assigned repository of such deals.

BSE Sensex dips 0.91% on lackluster market again

The BSE 30-share Sensex lost 164.73 points or 0.91% to 17,847.24, its lowest closing level since 21 March 2011. The Sensex declined 225.84 points at the day's low of 17,786.13 in afternoon trade, its lowest level since 28 February 2011. The index fell 35.61 points at the day's high of 17,976.36 in early trade.

The S&P CNX Nifty was down 45.90 points or 0.85% to 5,348.95, its lowest closing level since 28 February 2011. The Nifty hit a low of 5,328.70 in intraday trade.

BSE clocked turnover of Rs 2872 crore, higher than Rs 2607.78 crore on Tuesday, 24 May 2011.

Market Breadth:

Positive 1080 Negative 1662 Unchanged 138
From the 30 share Sensex pack, 25 fell and rest rose.

Increase in FDI will lead in informed investments, Hathway says

The information and broadcasting ministry allowed the suggestion by the Telecom Regulatory Authority of India (TRAI) to enhance foreign direct investment (FDI) ceiling for direct-to-home TV internet protocol TV and teleport from 49 percent to 79 percent.

Zuari Industries open to inorganic prospects in fertilizer industry

The board of Zuari Industries has sanctioned the demerger of its non-fertilizer industry. The firm will be conveying the shares of different joint venture firms and unit to its fully-owned unit, Zuari Holdings.

Makemytrip to create follow-on offer of 6 million shares on Nasdaq

In the latest development, according to Nasdaq-listed online tour agency MakeMyTrip, it has been aiming to sell a further 6 million shares to shareholders as a follow-on offer.

Suzlon to arrange wind turbines in South Africa

Suzlon Energy has approved a deal with African Clean Energy Development, or ACED, for the supply and construction of 76 wind turbines of its 2 mega watt sequence in South Africa.

FSDC sub-commission to fortify regulatory structure

The Reserve Bank of India (RBI) has told that the sub-commission of the Financial Stability Development Council (FSDC) has concurred to fortify regulatory structure for wealth management activities in its second conference which happened Tuesday.

Indian non-life insurance division is a goldmine, S&P; says

The Indian non-life insurance division has considerable expansion probability since market penetration is still low, running off important space for additional development, according to an article published by Standard & Poor’s Rating Service with the title “The Indian Non-life Insurance Sector Is A Goldmine of Growth Potential.”

BSE Sensex rises 0.1% as market slightly recovers

The BSE 30-share Sensex was up 18.64 points or 0.1% to 18011.97. The index rose 117.06 points at the day's high of 18,110.39 in afternoon trade. The Sensex fell 59.39 points at the day's low of 17,933.94 in mid-afternoon trade, its lowest closing level since 22 March 2011.

The S&P CNX Nifty was up 8.30 points or 0.15% to 5,394.85. The Nifty hit low of 5,367.45 in intraday trade, its lowest level since 21 March 2011.

The BSE Mid-Cap index was flat. The BSE Small-Cap index fell 0.04%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2592 crore, lower than Rs 2607.78 crore on Monday, 23 May 2011.

Market Breadth:

Positive 1301 Negative 1448 Unchanged 127
From the 30 share Sensex pack, 16 rose and rest fell.

Sanghvi Forging ends with 32 percent increase on debut

Sanghvi Forging, a new firm increased 32 percent on opening. The issue price was Rs 85. Its stock should keep an eye on in the following days as one anticipated further fireworks in this counter.

ONGC FPO is expected in first week of July, according to Finance Ministry sources

The market stipulations will take part in a main role in shaping the administration’s disinvestment plan. The Finance Ministry is at the moment firming up the divestment schedule for the whole year.

Maha farmers’ problem: NABARD objects to MSCB loans this year

Loans to Maharashtra farmers may be batter this year, according to reports citing sources in National Bank for Agriculture and Rural Development (NABARD).

Diesel demands may rush forward as subsidies quicken switch

Diesel demand will rush forward in India this summer as subsidies make it cheaper than fuel oil for burning in power plants and factories, probably stiffening concentrated supplies in Asia if New Delhi does not move soon to increase domestic taxes.

Tantia Constructions aims Rs 800 - 850 crore topline in Fiscal 2012

Tantia Constructions has accounted a sales revenue of Rs 271.77 crore and a net profit of Rs 10.23 crore for the period that lasted in March 2011.

Srei BNP Paribas increases benchmark rate by 50 bps

Srei BNP Paribas, an equal joint venture between Srei Infrastructure Finance and BNP Paribas, increased its benchmark major lending rate by 50 basis points to 16 percent with instantaneous result.

ITN Mark a totally debt free firm, Crore Projects says

Crore Projects & Technologies is arranging to obtain an educational consulting service in UK, ITN Mark worth $ 25 million. Director Finance of Core Projects & Technologies told that he feels about the agreement and how will that help the firm develop.

Nucleus Software in planned joint venture with Wipro

Nucleus Software, provider of software solution to banks, has gone into a planned joint venture with Wipro to supply cost effective customized solutions to banking clients, according to the firm in a press release on Tuesday.

Tata Chemicals may finish USD 375 million fund raising before July

Tata Chemicals has declared its Fiscal Year 2011 outcomes. The firm’s Fiscal Year 2011 merged net profit was up 8 percent at Rs 653 crore as against to Rs 606 crore and its merged net sales were up 15 percent at Rs 10,895 crore as against to Rs 9,448 crore.

Aurobindo obtains last approval from US FDA on generic drug

Aurobindo Pharma obtain a last nod from the US Food & Drug Administration (US FDA) to produce and market generic drug, Piperacillin and Tazobactam injection of changeable strength packed in single use vials, according to the firm in a press release on Tuesday.

Kingfisher not aiming at liability alterations any longer, CFO says

Kingfisher Airlines is not aiming at additional liability alterations from banks, though it has yet discretionary exchangeable liability costing Rs 700 crore, according to Ravi Nedungadi, group president and CFO of Kingfisher Airlines.

Venus Remedies obtains European patent for painkiller drug

Venus Remedies obtains patent for research drug, Achnil, a once-a-day painkiller injection particularly for the old ones, till 2025 from the European Patent Office (EPO), according to the firm in a press release to the stock exchange on Tuesday.

Coal block viable bidding soon, Administration says

The recommended viable bidding round for coal blocks in the nation will happen soon, according to Coal Minister Sriprakash Jaiswal last night. The offering will be called soon, according to Jaiswal when inquired regarding the status of the administration’s scheme for allocation of coal blocks through competitive offering.

Battery venture may drive development for Fiscal Year 2012, Eveready Industries says

Battery producer Eveready Industries India placed a fourth period (January - March) net profit of Rs 3.87 crore, down 96 percent year-on-year because of lower sales and a one-time outstanding growth in the previous period a year ago.

Zee Learns eyes to make a twofold topline in advance

The educational wing of Essel group, Zee Learn, accounted a discrepancy of Rs 1.48 lakh in the period that lasted in March 2011. The firm accounted revenue of Rs 27 lakh in the previous period.

Everonn anticipates subsidiaries to be in black in Fiscal Year 2012

Learning solutions provider Everonn Education in Chennai accounted a merged net profit of Rs 68 crore in Fiscal Year 2011 logging a year on year (YoY) development of 49 percent. Its merged earning stood at Rs 425 crore for Fiscal Year 2011 versus Rs 294 crore for Fiscal Year 2010, increase of 45 percent (YoY).

ENIL predicts 35 percent EBITDA increase in Fiscal Year 2012

Executive director & CEO of Entertainment Network India Limited (ENIL), Prashant Panday has told that the radio industry has taken advantage from cricket World Cup 2011 in fourth period.

Strides Arcolab tells “no effect” of DEPB plan withdrawn

Strides Arcolab has made clear on Monday that the firm would not be affected if the administration of India takes out Duty Entitlement Pass Book (DEPB) plan from June 30 while all its trades are from 100 percent Export Oriented Unit (EOU).

JB Chemicals to trade Russia OTC venture to J&J;’s Cilag

JB Chemicals & Pharmaceuticals will trade its over-the-counter or OTC venture in Russia to Cilag Gmbh International, a unit of Johnson & Johnson, for Rs 938.51 crore. The firm will as well trade international rights and registrations of 3 OTC brands, Doktor Mom, Rinza, and Fitovit - to Cilag for further Rs 6.07 crore.

BSE Sensex plummets 1.82% as market in deep downturn

The BSE 30-share Sensex was down 332.76 points or 1.82% to 17,993.33, its lowest closing level since 22 March 2011. The Sensex shed 355.07 points at the day's low of 17,971.02 in afternoon trade. The index fell 57.03 points at the day's high of 18,269.06 in early trade.

The S&P CNX Nifty was down 99.80 points or 1.82% to 5,386.55, its lowest closing level since 21 March 2011. The Nifty hit a low of 5,373 in intraday trade.

BSE clocked turnover of Rs 2012 crore, lower than Rs 2776.46 crore on Friday, 20 May 2011.

Market Breadth:

Positive 808 Negative 1986 Unchanged 108
From the 30 share Sensex pack, 29 fell and rest rose.

Sasken’s modifies shares cash in closing date to May 26

Sasken Communication modified forward the closing date of its continuing equity shares cash in program to Mat 26 from October 20 earlier, according to the firm in its press release to the stock exchange.

Renault India sees to sell 1 lakh units by end of 2013

French car manufacturer Renault’s Indian unit is likely to sell 1,000,000 vehicles by the end of 2013, a prominent executive has told at the moment, following it started its first independent model in the globe’s second-quickest developing auto market.

Auto parts companies strike Joint Ventures for tech; merge becomes visible

Huge domestic auto parts manufacturer are creating joint ventures to enhance their technological know-how and develop merchandise range as the mostly splintered sector is at full aptitude and in front of a capital chomp.

Magma Fincorp collects Rs 439 through PE for development schemes

Magma Fincorp collected Rs 439 crore through equities from a private equity in US, Kohlberg Kravis Roberts & Company (Rs 236 crore) and International Finance Corporation (Rs 203 crore) to support its development plans.

Mahindra Satyam positive of better agreement pipeline in Fiscal Year 2012

Technology major Mahindra System placed a net loss of Rs 327 crore in the fourth period (January - March) in opposition of a net profit of Rs 58.9 crore quarter-on-quarter, regardless of loftier net sales and operating margins.

FDI plunges 32 percent in January-March to $ 3.39 billion

India obtained foreign direct investment (FDI) worth $ 3.39 billion in January - March 2011, an immersion of 32 percent vis-à-vis the identical quarter in the previous year, the recent data from the industry ministry has said.

Jet Airways to lease two aircrafts to Thai Air

Carrier Jet Airways Limited has told on Monday it has implemented a deal with Thai Airways International for dry lease of two of its B 777-300ER airplane.

US FDA wishes for development scheme for Aurobindo’s unit

Drug manufacturer Aurobindo Pharma has told that on Monday it has obtained an advisory letter from the US FDA based on a field alert account for packaging and labeling conformity for unit-ill, looking for a detailed scheme for development.

Aditya Birla, JSW in 2nd round offering for Bandanna

India’s Aditya Birla, JSW Steel and Jindal Steel and Power are one of the companies shortlisted to offer for Australian coal explorer Bandanna Energy as component of a billion-dollar- plus sale, according to sources on Monday.

EGoM might have a conference this week to deem on increasing LPG rates

A week following the sheer increase in petrol costs by Rs 5 per liter, the administration at the moment has told that a ministerial board is expected to have a conference in the following days to deem on increasing diesel, LPG and kerosene prices.

MMTC invites offers for import of indefinite quantity of DAP

In advance of the launch of the kharif season in June, MMTC a firm owned by the administration has invited offers for the import of an unspecified quantity of di-ammonium phosphate (DAP).

Morgan Stanley relegates Ashok to ‘underweight

Morgan Stanley relegated Ashok Leyland, India’s second biggest commercial vehicle manufacturer by two notches to ‘underweight’, telling that there were no optimistic set off for the stock in the future.

Orix aims TPG venture in India Shriram Transport Finance

Japan’s Orix Corporation is in discussions to purchase US private equity firm TPG Capital’s venture in Indian commercial vehicle lender Shririam Transport Finance in agreement valued at over Rs 3,000 crore ($ 664 million).

Sunteck to charge four ventures, aims Mumbai low-cost market

Kamal Khetan advertised Sunteck realty, is aiming to suggest residential flats with a ticket size of Rs 1-1.5 crore for 1100 - 1200 square feet, according to a firm representative.

Air India gets by way of difficult phase, Prime Minister says

Prime Minister Manmohan at the moment acknowledged the national carrier Air India was getting by a difficult phase but wanted to place the fault for the condition on global recession and high cost of operation.

Administration pegs GDP development in UPA rule at 8.5 percent

Pegging the nation’s standard economic development rate at 8.5 percent in the UPA rule so far, the administration at the moment has told that it was determined to take India to the chosen league of “middle income countries.”

32 public CPSEs to collect Rs 5551 crore earnings in 2010-11

The administration has told that 32 operating central public sector enterprises (CPSEs) are expected to collect yearly revenue of Rs 5,551 crore in 2010-11.

Economic development on track; additional actions to check inflation, Prime Minister says

Bullish on an economic development rate of 8.5 percent in the past seven years of its leadership, the UPA administration has told that high costs still remain a major concern and suggested at additional actions to control inflation, particularly for the poor and vulnerable sections.

Administration fights to get back impetus with land reform

The Congress party-led alliance on Sunday vowed to thrust an essential land reform bill it the July session of parliament, attempting to get back the initiative following months of corruption scandals and demonstration on price.

ITC, Mangalore Refinery and Petrochemicals, Karur Vysya Bank declared results today

ITC
Net profit was at Rs 1,281.48 crore
Net sales were at Rs 5,836.26 crore

Mangalore Refinery and Petrochemicals
Net profit was up at Rs 553 crore versus Rs 253 crore
Net sales were up at Rs 12,413 crore versus Rs 8,712 crore

Karur Vysya Bank
Net profit was up at Rs 115 crore versus Rs 99 crore

BSE Sensex lifts 1.02% as market ends the week on rise

The BSE 30-share Sensex was up 184.69 points or 1.02% to 18,326.09. The index gained 288.07 points at the day's high of 18,429.47 in mid-afternoon trade. The Sensex rose 19.98 points at the day's low of 18,161.38 in early trade.

The S&P CNX Nifty was up 56.25 points or 1.04% to 5,484.35.

The BSE Mid-Cap index rose 0.61% and the BSE Small-Cap index gained 0.49%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2764 crore, higher than Rs 2432.79 crore on Thursday, 19 May 2011.

Overseas service providers descended 4th period earnings, Dolphin Offshore says

Dolphin Offshore declared its fourth period outcomes on Friday. The firm that offers underwater services to the Indian oil gas industry, and supplies marine service gets 4th period earnings dropped at Rs 93 crore as against to Rs 114 core.

Galaxy Surfactants pulls out IPO prior to a day of its closing

In an astonishing action, specialty chemical manufacturer Galaxy surfactants has pullet out its initial public offering (IPO) prior to a day of its closing on May 19.

SEBI holds back listing of Vaswani Industries

Market watchdog Securities and Stock Board of India (SEBI) has held back the listing of sponge iron producer Vaswani Industries, according to reports.

Strauss-Kahn gave bail, demanded home custody

Past IMF Chief Dominique Strauss-Kahn was given $ 1 million bail under severe circumstances, which comprises tagging him with an electronic gadget, following he was officially accused on the entire seven counts of sexually harassing a hotel maid here.

Parikh shows disapproval to administration increasing subsidy burden

The administration has increased the contribution of upstream oil firms toward fuel subsidies to 38.8 percent for financial year 2010-11. Dr. Kirit Parikh, Constituent, Planning Commission, Administration of India has told that upstream firms are being requested to pay further. It surely doesn’t make much economic significance.

Morgan Stanley’s outlook over Oil, GAIL post subsidy increase

In an action that might spook Oil and Natural Gas Corporation’s (ONGC) set up public offering, the administration has increased contribution of upstream oil firms toward fuel subsidies to 38.8 percent for fiscal year 2010 -11.

IOC to endure subsidy burden of Rs 3,800 crore this year

The administration has increased the contribution of upstream oil firms toward fuel subsidies to 38.8 percent for financial year 2010 - 11 wherein IOC plans to carry the subsidy burden to the amount of Rs 3,800 crore.

Karur Vysya Bank waits to keep up 30 percent loan development in advance

Karur Vysya Bank’s 4th period was up at Rs 99 crore. Its net interest income (NII) was up at Rs 212 crore as against to Rs 164 crore. Its gross NPA was stood at 1.26 percent as against to 1.72 percent.

Power supply must be achieve prior to e-auctioning, Power Minister says

The planning commission, power ministry and private sector manufacturers are all ranged in opposition to India’s biggest coal manufacturer Coal India’s e-auction of coal.

Administration ups upstream oil firms subsidy share to 38.8 percent

In an action that may spook Oil and Natural Gas Corporation’s (ONGC) arranged public offering, the administration has increased the contribution of upstream oil firms toward fuel subsidies to 38.8 percent for 2010-11 financial year.

Transactions in final phases with Starbucks, Tata Coffee says

The firm has accounted its fourth period outcomes which saw a sales earning of Rs 100.64 crore and a net profit of Rs 13.53 crore for the period that lasted in March 2011. In January, Starbucks Corporation in Seattle approved a deal with Tata coffee to purchase coffee from India and explore opportunity in retail stores in the nation.

Voltas expects Fiscal Year 2012 earnings developing according on global factors

Air conditioning merchandises manufacturer Voltas’ 2010-11 (April - March) merged net profit plunged 6 percent year-on-year to Rs 357.24 crore.

ICICI Bank collects USD 1 billion foreign bond issue

India’s biggest private sector lender ICICI Bank collected $ 1 billion or more or less Rs 4,492 crore via a foreign bond issuance of 5.5 years conveying a coupon of 4.75 percent.

Wire & Wireless India predict 30 percent earnings increase in Fiscal Year 2012

Wire and Wireless India accounted an advance of 13 percent (YoY) in its earnings at Rs 88.4 crore as against to Rs 67.6 crore for the fourth period that lasted in March 31, 2011.

62K MW power in 11th Plan, halt e-auction of coal, Shinde says

The continuing quarrel amid Coal India and the power ministry on e-auctioning of coal might keep on for a while. As Coal India upholds there is adequate coal on hand to feed the captive power facilities and censures need of infrastructure to convey the supply.

Banks and MFIs fight over personal pledge in CDR

In advance of the deadline (June 06) for loan-restructuring as mandated by the Reserve Bank of India (RBI), advertisers of microfinance firms (MFIs) and banks are yet to achieve any deal on whether corporate debt restructuring (CDR) is to be protected by Personal Guarantee, according to accounts.

WWIL anticipates sales to increase by 30 percent in Fiscal Year 2012

Wire and Wireless (India) Limited, one of the India’s biggest Multi System Operator, declared its fourth period outcome at the moment. The firm marked a loss of Rs 118.1 million for the fourth period this year as against to Rs 527.8 million in the corresponding period last financial year.

Posco work keeps on regardless of road blockade by oppositions

Land acquirement for Posco’s mega steel facility kept on for the second day at the moment regardless of the demonstration and road blockade by the protesters.

BofA - Merill slashes L&T; aimed cost

Bank of America - Merrill Lynch slashes its aimed cost on Indian engineering and Construction Corporation Larsen & Tourbo following the firm advised stiff competition and increasing prices would tuck margins from earning witnessed increasing by a period this year.

India Incorporated to be in front of no new tax debt from IFRS

The Ministry of Corporate Affairs has told that India Inc. is not going to be in front of new tax debt from International Finance Reporting Standards (IFRS) to any further extent, according to accounts.

Emami, Ashok Leyland, OCL India, Larsen and Toubro, Lakshmi Vilas Bank declared results today

Emami
Net profit was up at Rs 51.6 crore versus Rs 40.2 crore
Net sales were up at Rs 331 crore versus Rs 271 crore

Ashok Leyland
Net profit was at Rs 298.23 crore
Net sales were at Rs 3,828.53 crore

OCL India
Net profit was down at Rs 33.9 crore versus Rs 55.4 crore
Net sales were up at Rs 432.4 crore versus Rs 417.7 crore

Larsen and Toubro
Net profit was at Rs 1686 crore

Lakshmi Vilas Bank
Net profit was at Rs 27 crore

BSE Sensex surges 0.31% as market still on weak performance

The BSE 30-share Sensex was up 55.20 points or 0.31% to 18,141.40. The index gained 112.25 points at the day's high of 18,198.45 in early trade. The Sensex fell 28.38 points at the day's low of 18,057.82 in morning trade.

The S&P CNX Nifty was up 7.50 points or 0.14% to 5,428.10.

The BSE Mid-Cap index fell 0.7% and the BSE Small-Cap index declined 0.54%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2420 crore, lower than Rs 2614.85 crore on Wednesday, 18 May 2011.

Market Breadth:

Positive 1071 Negative 1697 Unchanged 145
From the 30 share Sensex pack, 17 fell and rest rose.

Air India liabilities recast “in final stage”, witnessed in the end of June

Air India has told on Thursday that it is in “final stages” of talks with banks for reforming Rs 20,000 crore liabilities and anticipates completing the official procedures by the end of June.

Crompton Greaves purchases Sweden’s Emotron Group

Electrical Equipment manufacturer Crompton Greaves has purchased power electronics and engineering firm in Sweden, Emotron Group, at an enterprise cost of 57.8 million euro.

Ambuja searches for additional time for Nadikudi Greenfield cement facility

Cement major, Ambuja cements has requested a time extension from the state administration for implementing its suggested Greenfield cement facility at Nadikudi in the district of Guntur, according to reports.

ManpowerGroup poll discloses talent deficiency in R&D;

ManpowerGroup India on Thursday made public the outcomes of its sixth yearly deficiency poll, disclosing 67 percent of employers in India are undergoing uneasiness satisfying task, vital positions inside their organizations.

State Bank of India rating unaltered, S&P; says

Standard & Poor’s Rating Services has told that its rating on State Bank of India (SBI; BBB-/Stable/A-3) was not altered by the bank’s remarkable deficit in financial year 2011 that lasted on March 31.

Cement costs to increase by 1.7 - 3.3 percent in Fiscal Year 2012, Elara Securities says

Cement cost are expected to increase remarkably in the recent monetary as an outcome of subdued demand for the construction material, Brokerage Company Elara Securities has told in its account.

Food, non-food inflation on beg off, Pranab Mukherjee said

Food and non-food inflation is begging off, according to Finance Minister Pranab Mukherjee on Thursday, adding he does not provide much reliability to weekly fluctuations in the inflation account.

Syndicate Bank goes into MoU with KPSC

Public sector Syndicate Bank has gone into an MoU with Karnataka State Public Service Commission (KPSC) to receive application charge across its entire branches in the nation.

Food inflation trips to 7.47 percent for week that lasted on May 7

Keeping on its descending route, food inflation in the nation tripped further to 7.47 percent for the week that lasted on May 7 on the back of more inexpensive pulses, vegetables and wheat.

UBS improves Reliance Industries to “buy”

UBS Investment Research has told on Thursday that it has enhanced its rating on Reliance Industries to “buy” from “neutral,” provided the stock’s striking appraisals compared to Asian peers.

Bank of America Merrill slashes Bajaj Auto cost aim

Bank of America Merrill Lynch has told on Tuesday that it has slashed the price objective for motorcycle manufacturer Bajaj Auto to Rs 1,340 from Rs 1,480 on anticipations of margin pressures and a sales slowdown in the recent financial year.

Cable Corporation obtains Rs 140 crore purchase from Tamil Nadu

In the latest development, according to Cable Corporation India, it has already received a purchase with an amount of Rs 140 crore from Tamil Nadu Electricity Board.

International accounting body whips India for suspending on IFRS

The International Accounting Standards Board (IASB) on Wednesday whipped India’s faltering on executing international accounting norms IFRS and has told that it is going to deflate the nation’s international standing.

Administration begins land acquirement for Posco venture

Orissa at the moment kept on land acquirement for the Rs 52,000 crore Posco steel facility in the middle of rigid security, as United Action Committee (UAC), a grouping of villagers previously supporting the venture, has gone violent and threatened demonstration in opposition of the drive tomorrow.

Saint Gobain tells advertisers proposition delisting from BSE

Automotive glass manufacturer Sain Gobain Sekurit India has told on Wednesday that its advertisers Saint Gobain Glass India and Saint-Goblai Security S.A. France have offer to delist the firm from the Bombay Stock Exchange.

TCS first period will be IFRS acquiescent, Mahalingam says

Even as the administration is yet to declare the fresh date for executing the international accounting standards IFRS, nation’s biggest software trader TCS told that it will adopt the same from the June period.

IL&FS; Group arm obtains fiscal closure for 5 ventures

IL&FS Financial Services (IFIN), the shareholder banking wing of the IL&FS Group, at the moment pronounced fiscal closure for its five ventures costing Rs 7.430 crore.

End to DEPB trade tax split draws antagonism

The administration has told that it will finish a tax split for traders since the USD 250 billion sector no longer requires it, drawing stinging disparagement from producers.

Marg, DB Corp, Bajaj Auto, Ind-Swift, Orchid Chemicals and Pharmaceuticals declared results today

Marg
Net profit was down at Rs 18 crore versus Rs 29 crore
Net sales were up at Rs 361 crore versus Rs 210 crore

Orchid Chemicals and Pharmaceuticals
Net profit was down at Rs 156 crore versus Rs 339 crore

DB Corp
Net profit was up at Rs 46.7 crore versus Rs 40.9 crore
Net sales were up at Rs 310 crore versus Rs 245 crore

Bajaj Auto
Net profit was at Rs 1,400 crore
Net sales were at Rs 4,051.74 crore

Ind-Swift
Net profit was up at Rs 11.5 crore versus Rs 11 crore
Net sales were up at Rs 236 crore versus Rs 200 crore

BSE Sensex slips 0.28% as market falters for third successive day

The BSE 30-share Sensex was down 51.15 points or 0.28% to 18,086.20, its closing lowest level since 22 March 2011. The index fell 116.56 points at the day's low of 18,020.79 in afternoon trade. The Sensex gained 80.85 points at the day's high of 18,218.20 in early trade.

The S&P CNX Nifty was down 18.35 points or 0.34% to 5,420.60, its lowest closing level since 22 March 2011. The Nifty hit a low 5,401.25 in intraday trade.

The BSE Mid-Cap index declined 0.61% and the BSE Small-Cap index fell 0.8%. Both these indices underperformed the Sensex.

The total turnover on BSE amounted to Rs 2605 crore, lower than Rs 2797.54 crore on Tuesday, 17 May 2011.

Market Breadth:

Positive 1017 Negative 1764 Unchanged 132
From the 30 share Sensex pack, 16 fell and rest rose.

Innoventive Industries closes less than 13 percent issue price on first appearance

Multi product engineering firm in Pune, Innoventive Industries, let down shareholders on listing day. It was witnessed wherein the share hangs in less than the issue price all through the session.

PFC costs FPO at peak of range at Rs 203 a share

Power Finance Corporation (PFC) valued its FPO share sale at Rs 203 per share, the peak of the price range, according to the firm on Saturday.

Invest to Galaxy Surfactants IPO: Hem Securities says

Galaxy Surfactants is conveying the issue at price band of Rs 325-340 a share at p/e multiple of 13-14 at post issue annualized eps of Rs 24.12. Aiming at the sturdy future outlooks of the firm, Hem Securities has suggested shareholders to invest the issue for endowment rationale.

Cairn India aims development into east Africa

In the latest development, Cairn India, majority managed by Cairn Energy, is engrossed in widening its business into east Africa, according to a senior firm executive on Wednesday.

RIL disproves DGH’s KG-D6 account, aims en route for BP for responses

Reliance Industries has counteracted an account that the oil regulator, the DGH, utilized to aim it for plunging gas manufacturing from the KG-D6 fields, telling that the research was done devoid of visiting the field and the firm was not provided with a chance to introduce its outlooks.

Reliance ADAG to endow in mining infrastructure in Indonesia

Reliance ADA Group, a prominent Indian corporation, is going to endow amid $ 5 billion and $ 10 billion in mining infrastructure in Indonesia, the investment chief of Southeast Asia’s largest fiscal system told on Wednesday.

Varun Shipping obtains transaction from Brazil’s Petrobras

Varun Shipping Company has approved Rs 690 crore four year deal with Brazil state company Pterobras to provide three anchor handling towing and provide vessels.

Agco aims USD 200 million for M&A; desires to augment in US

Farm equipment manufacturer Agco Corp wants undersized, $ 50 - $100 million acquirements, and might pay out more or less $ 200 million on transactions this year, according to its CEO.

Administration chooses to halt tax incentive plan for trades

The administration has chose to halt a tax incentive plan for traders on June 30, according to the nation’s revenue secretary on Wednesday, while the trade industry in Asia’s third-biggest financial system was doing fine and required no inducements.

HPCL tells that it is going to import 12.5 million tons of crude oil in Fiscal Year 2012

HPCL is going to import 12.5 million tons of crude oil in 2011/12, as well as one million tons from the spot market, according to its head of refineries K. Murali on Wednesday.

TCS, HDFC referred to as India’s best managed firms

IT giant TCS and monetary services major HDFC have been entitled as India’s two best managed firms in a yearly survey conducted by Finance Asia magazine.

Vadilal to submit Rs 10 crore to develop mango processing unit

Vandilal Industries is aiming to develop its mango processing aptitudes to 150 tons a day from 100 tons at an endowment of Rs 10 crore due to augment in demand, according to the firm in a press release to the stock exchanges on Wednesday.

Leaving Infosys is fond of daughter’s marriage, Narayana Murthy says

Sending-off Infosys to N R Narayana Murthy was resembled to as parents sending away their daughter after her marriage, the founder and sociable chairman has told that in his last letter to the firm’s shareholder.

Oil cost increase fuels India’s inflation affliction

In the previous week, Tarachand, an engineer who is 52 years of age, got up to the bitter news that India’s government-run oil marketing firms has increased pertrol cost by 8 percent at once.

Orissa to continue land acquirement for Posco on May 18

The Orissa administration is expected to continue following nine months of land acquirement to keep away from the process, according to a senior representative.

Suven Life finalizes phase I trial for Alzheimer drug

Suven Life finished phase I clinical trial of Suvn-502, a new chemical unit for Alzheimer’s disease cure, and told that it is submitting files for Investigational New Drug application with the US Food and Drug Administration.

Experts expect ad-hocism in oil subsidy sharing to keep on

Along with reports doing the rounds that the administration may increase upstream oil firms’ contribution on the way to oil marketing company’s subsidy weight to 38.5 percent from 33 percent at the moment has affected stocks such as ONGC, Oil India and Gas Authority of India.

L&T; obtains Rs 1,450 crore deal from GSPC

Engineering and construction major Larsen & Tourbo has obtained Rs 1,450 crore deal from Gujarat State Petroleum Corporation (GSPC).

Coal India pips ONGC to turn into most valued PSU

Coal India at the moment exceeded oil and gas major ONGC to turn into the nation’s most valued public sector firm together with a market capitalization of Rs 2.5 lakh.

RCF expects Fiscal Year 2012 sales up 25 percent; may arrange fresh SSP unit

Rashtriya Chemicals and Fertilizers sees sales to increase 20 percent to 25 percent to more or less Rs 7,000 crore in Fiscal Year 2012 on higher imports, according to its prominent officials on Tuesday.

Subsidized fuel may delay IOC’s expansion plans

India’s largest oil refiner and fuel retailer Indian Oil Corporation could delay some local expansion ventures as the firm incurs heavy losses on the sale of subsidized fuel, according to its head of finance on Tuesday.

Eicher expects commodity cost alleviating, no additional price hike

Eicher Motors, which has of late been after an aggressive pricing strategy, expects no additional price hike in the near term, as it thinks commodity costs have began alleviating, according to its chief executive on Tuesday.

IL&FS; Engineering & Construction obtains USD 100 million deal

IL&FS Engineering and Construction Firm (IECC) at the moment has told that it has obtained a deal worth $ 100 million from Prime Star Energy FZE for construction of Storage Tank Terminal at Fujairah, UAE.

Aurobindo obtains Australia’s TGA approval for 2 generic drugs

Aurobindo Pharma has got official sanction for its generic drugs, Risperidone and Alendronate tablets, used to cure schizophrenia and osteoporosis, respectively, from Australia’s Therapeutic Goods Administration, according to the firm in a press release to the stock exchange on Tuesday.

SBI might postpone USD 4.5 billion rights share sale

State Bank of India, the nation’s biggest lender, might have to postpone an arranged USD 4.5 billion rights share issue to the following fiscal year as a cash-starved administration, its largest investor, is not capable of putting in cash, according to reports on Tuesday.

Income Tax advisories to Bhave routine affair, CBDT says

The Income Tax Department (ITD) has told that it had submitted advisories to past SEBI chairman C B Bhave to furnish data in aid of his return filed for the 2009-10 assessment year.

Posco’s land acquirement action strikes hurdles

Orissa administration’s action to continue land acquirement for Posco steel facility from Wednesday was in front of a dilemma at the moment with villagers advocating the project declaring non-cooperation and opponents claiming relocation of the suggested facility site from the fertile land.

2G scam: CBI investigates on close aides of Kanimozhi

Stiffening the noose surrounding DMK head Kanimozhi in the 2G spectrum scam, the CBI at the moment investigated a Malaysia-based NRI and a chartered accountant, who are believed to be close to past Tamil Nadu chief minister M Karunanidhi’s family, only days advance of an anticipated verdict on her bail application.

Himachal Tourism department aims 1.50 crore tourists in 2011

The Himachal Tourism department has prepared a goal of 1.50 crore tourists this year, according to the officials. Himachal Pradesh logged 1.32 crore tourists, twofold of the state population, in the previous year.

Nitish claims 50 percent share of power from NTPC in the state

Bihar Chief Minister Nitish Kumar at the moment claimed a 50 percent share of power manufactured by NTPC utilities in the state to achieve the needs of the customers.

Jet Airways reschedules flights with Mumbai and Delhi

Private carrier Jet Airways on Monday has told that it has postponed two of its Boeing 737 afternoon flights from and to Mumbai and Delhi on the report of closure of the runway at Sardar Vallabhbhai Patel international airport in Ahemadabad up to June 15.

Raw materials at higher value could affect margins, JSW Steel says

Steel manufacturer JSW Steel at the moment has told that raw materials at a higher value are expected to hold margins pressurized in the period of June.

Spicejet puts Nagpur on service map

Cheap-fare airline, Spicejet has opened direct flights from Nagpur to Bangalore and Delhi utilizing new generation Boeing 737-800 aircraft, according to firm’s prominent executive, Neil Mills, the city was the 21st destination on the service map of the company.

Speak Asia makes something clearer on wrongly claiming clients

Survey group Speak Asia Online (SAOL) at the moment has told that it has worked for firms like Bata, Nestle, Airtel, ICICI, and ING Vysya but has not given commissioned services to them despite media accounts that the firm has mistakenly claimed them as their clients.

India promises $ 1.25 lakh for GFCS

India at the moment declared a grant of $ 1.25 lakh for arranging the secretariat of an international network of specialist for enhancing projections on climate change and its effect on different socio-economic sectors.

RBI hints at additional actions as April inflation still too lofty

Reserve Bank Governor Duvvuri at the moment has told that April inflation at 8.66 percent was too lofty and stressed upon the central bank’s action to batten it down to a comfortable rate, signifying that he will keep on with the hawkish financial stance.

HSBC India increases base rate to 9 percent

Banking major HSBC India at the moment has told that it has increased its based rate to 9 percent per annum from 8.5 percent per annum with effect from May 12.

Administration permits tax exemption on 9.5 percent interest on PF for 2010-2011

Providing relief to 4.71 crore investments of EPFO, the administration has permitted tax exemption on the 9.5 percent interest income on PF deposits for 2010-2011.

Amara Raja Batteries, Bajaj Finance, Hindustan Motors, Hikal declared results today

Amara Raja Batteries
Net profit was up at Rs 41.1 crore versus Rs 36.7 crore
Net sales were up at Rs 501 crore versus Rs 431.7 crore

Bajaj Finance
Net profit was up at Rs 71 crore versus Rs 25.2 crore

Hindustan Motors
Net sales were down at Rs 163 crore versus Rs 185 crore

Hikal
Net profit was down at Rs 14.07 crore versus Rs 19.99 crore
Net sales were down at Rs 151.54 crore versus Rs 163.81 crore

BSE Sensex dips 1.13% as market stumbles again

The BSE 30-share Sensex was down 207.68 points or 1.13% to 18,137.35, its lowest level since 22 March 2011. The index lost 260.36 points at the day's low of 18,084.67 in mid-afternoon trade. The Sensex gained 90.77 points at the day's high of 18,435.80 in morning trade.

The S&P CNX Nifty was down 60.05 points or 1.09% to 5,438.95, its lowest level since 22 March 2011. The Nifty hit a low of 5,421.05 in intraday trade.

The BSE Mid-Cap index fell 0.66% and the BSE Small-Cap index declined 0.61%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 2783 crore, higher than Rs 2112.54 crore on Monday, 16 May 2011.

Market Breadth:

Positive 1075 Negative 1733 Unchanged 108
From the 30 share Sensex pack, 19 fell and rest rose.

BSE Sensex drops 1.01% as feeble market starts the week

The BSE 30-share Sensex was down 186.25 points or 1.01% to 18,345.03. The index lost 211.40 points at the day's low of 18,319.88 in mid-afternoon trade. The Sensex fell 38.60 points at the day's high of 18,492.68 in early trade.

The S&P CNX Nifty was down 45.75 points or 0.83% to 5,499 after gyrating between 5,541.80 and 5,487.65 during the day.

The BSE Mid-Cap index fell 0.77% and the BSE Small-Cap index fell 0.74%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 2102 crore, lower than Rs 2840.45 crore on Friday, 13 May 2011.

Market Breadth:

Positive 1054 Negative 1723 Unchanged 117
From the 30 share Sensex pack, 26 fell and rest rose.

Aviva i-life introduced by Aviva Life as its cyber term plan

According to Gaurav Rajput, the Aviva India Director Marketing, Aviva Life Insurance has already introduced Aviva i-life, its cyber term plan, wherein the payment will be at least Rs 25 lakh without higher boundary as well as 35-year utmost term.

JSW Steel aims to finance more projects until 2014

According to Sajjan Jindal, the Group’s vice-chairman as well as managing director of JSW Steel, the firm has been looking forward to steady costs of steel. And until 2014, the company aims to keep on financing for more projects.

Tata Steel files for approval to manufacture Greenfield Airport

The top steel manufacturer, Tata Steel, already filed registration to the Aviation Ministry for a Greenfield Airport for DPR or detailed project report last May 13. According to the firm, the airport will be occupying more than 300 acres at the suburb of Jamshedpur with an approximate cost of about Rs 800 crore.

CEO of Genpact resigns due to personal cause

The Chief Executive Officer of Genpact, Pramod Bhasin, already resigned from his post. His successor will be Tiger Tyagarajan. According to Bhasin, the cause of his resignation was private and he plans to use around one-third of his life at the firm.

Keerthi Industies January-March 2011 sales at Rs 32.43

Keerthi Industries has accounted sales revenue of Rs 32.43 crore and a net profit of Rs 2.44 crore for the period that lasted in March 2011. For the period that lasted in March 2010 the sales earning was Rs 13.39 crore and net loss was Rs 2.45 crore.

Invest at Galaxy Surfactants IPO, MLR Securities says

According to Galaxy Surfactants, it has already produced surfactants as well as specialty chemicals in India for the personal and home care business. The firm has gone into capital market with its initial public offering of 59.3 lakh equity shares.

Shree Digvijay January-March 2011 sales at Rs 98.55 crore

Shree Digvijay Cement Company has accounted sales revenue of Rs 98.55 crore and net profit of 12.26 crore for the period that lasted in March 2011. For the period that lasted in March 2010 the sales earning was Rs 90.59 crore and net profit was Rs 16.28 crore.

PFC costs FPO at peak edge of range at Rs 203 a share

In the latest development, Power Finance Corporation or PFC has already priced its share sale at Rs 203 per share wherein it is considered as the peak edge of the cost range, according to the firm on Saturday.

Tata Coffee January-March 2011 earnings at Rs 100.64 crore

Tata Coffee has accounted sales revenue of Rs 100.64 crore and a net profit of Rs 13.53 crore for the period that lasted in March 2011. For the period that lasted in March 2010 the sales earning was Rs 89.64 crore and net profit was Rs 6.48 crore.

Petrol costs increase suspended because of elections, Nitish Kumar says

Bihar Chief Minister Nitish Kumar on Monday accused that the UPA administration had suspended the increase in cost of petrol, in effect at the moment, due to elections in five states.

DCW, Vishal Retail, PSL Limited, JSW Steel, Jaiprakash Associates, Areva T&D; declared results today

DCW
Net profit was down at Rs 3.1 crore versus Rs 8.6 crore
Net sales were up at Rs 295 crore versus Rs 275 crore

Vishal Retail
Net profit was down at Rs 10 crore versus Rs 128 crore
Net sales were down at Rs 157.9 crore versus Rs 254.6 crore

Globus Spirits
Net profit was down at Rs 6 crore versus Rs 11.5 crore
Net sales were down at Rs 108 crore versus Rs 114 crore

PSL Limited
Net profit was at Rs 4.7 crore
Net sales were at Rs 729 core

Ruchi Soya Industries
Net profit was at Rs 21.77 crore
Net sales were at Rs 4,811.55 crore

Patel Engineering Company
Net sales were up at Rs 1596 crore versus Rs 1197 crore

Areva T&D
Net sales were up at Rs 995 crore versus Rs 777 crore

Jaiprakash Associates
Net profit was at Rs 301.95 crore
Net sales were at Rs 3905.32 crore

JSW Steel
Net profit was at Rs 794 crore
Net sales were at Rs 7,209.35

Unichem Laboratories
Net profit was up at Rs 178 crore versus Rs 174 crore

Hikal
Net profit was down at Rs 14.07 crore versus Rs 19.99 crore
Net sales were down at Rs 151.54 crore versus Rs 163.81 crore

Le Waterina Resorts & Hotels
Net profit was up at Rs 0.98 crore versus Rs 0.13 crore
Net sales were up at Rs 2.66 crore versus Rs 1.97 crore

Adi Finechem
Net profit was at Rs 2.54 crore
Net sales were up at Rs 19.28 crore versus Rs 7.51 crore

Integra Capital Management
Net profit was down at Rs 0.03 crore versus Rs 0.22 crore
Net sales were down at Rs 0.07 crore versus Rs 0.10 crore

Indraprastha Medical Corporation
Net profit was up at Rs 9.43 crore versus Rs 7.23 crore
Net sales were up at Rs 121.21 crore versus Rs 103.67 crore

India Tourism Development Corporation Ltd
Net profit was down at Rs 12.06 crore versus Rs 13.07 crore
Net sales were up at Rs 105.39 crore versus Rs 77.93 crore

Innovative Tech Pack
Net profit was up at Rs 2.14 crore versus Rs 0.43 crore
Net sales were up at Rs 13.65 crore versus Rs 9.26 crore

Jagsonpal Pharmaceuticals
Net profit was down at Rs 0.39 crore versus Rs 3.56 crore
Net sales were down at Rs 31.85 crore versus Rs 39.58 crore

Jindal Photo
Net profit was up at Rs 7.66 crore versus Rs 4.08 crore
Net sales were down at Rs 108.27 crore versus Rs 109.73 crore

Kiri Industries
Net profit was up at Rs 10.35 crore versus Rs 6.67 crore
Net sales were up at Rs 182.34 crore versus Rs 104.41 crore

Power Finance FPO completely invested

Power Finance Corporation Limited, which is operated by the government, is up to USD 1 billion share sale was completely wrapped by afternoon on Thursday, the third day offer.

Servalakshmi Paper falls down 37 percent on launching

It was a frustrating session for the Servalakshmi Paper and its volume was rather big on Day 1. A share has been witnessed large swing in an intraday trade at the moment, prior to the closing at Rs 18.20, down 37 percent as against to issue price of Rs 29.

Shah Alloy 4th period PAT up 36 percent at Rs 38 crore

Shah Alloy has announced its fourth period outcomes. The firm’s fourth period Fiscal Year 2011 earnings were up 2 percent at Rs 207 crore against Rs 203 crore, year-on-year, YoY.

Administration gathers Rs 7.90 lakh crore in taxes in Fiscal Year 2011, Finance Minister says

The administration has gathered an “unprecedented” Rs 7.90 lakh crore in taxes in 2010-11 as funds worth Rs 74,000 crore has been issued in the fiscal, according to Finance Minister Mukherjee on Wednesday.

Innoventive Industries to register shares on Friday

Innoventive Industries, a multiproduct engineering firm in Pune, is going to register its equity shares on exchanges on May 13. The matter was launched for investment in April 26 - 29.

Invest to Power Finance FRPO, Nirmal Bang says

The follow-on-public offer of Power Finance Corporation (PFC) - prominent monetary institution in India aimed on the power sector, launched for subscription. Nirmal Bang has suggested investing the matter with an average to long-term outlook, according to its research account.

Eduexel Infotainment March 2011 earnings at Rs 42.37 crore

Eduexel Infotainment has accounted a sales revenue of Rs 42.37 crore and a net profit of Rs 0.58 crore for the period that lasted in March 2011.

Tata Investment Corporation March 2011 earnings at Rs 31.21 crore

Tata Investment Corporation has accounted a sales revenue of Rs 31.21 crore and a net profit of Rs 22.59 crore for the period that lasted in March 2011. For the period that lasted in March 2010 the sales revenue was Rs 31.88 crore and net profit was Rs 26.10 crore.

Torrent Power March 2011 earnings at Rs 1,722.12 crore

Torrent Power has accounted a sales revenue of Rs 1,722.12 crore and a net profit of Rs 339.60 crore for the period that lasted in March 2011. For the period that lasted in March 2010 the sales revenue was Rs 1,716.91 crore and net profit was Rs 287.96 crore.

Tera Software March 2011 earnings at Rs 50.91 crore

Tera Software has accounted a sales revenue of Rs 50.91 and a net profit of Rs 2.92 crore for the period that lasted in March 2011.

Nexxoft March 2011 earnings at Rs 18.77 crore

Nexxoft Infotel has accounted a sales revenue of Rs 18.77 crore and a net loss of Rs 5.00 crore for the period that lasted in March 2011.

Asian Granito 4th period revenue down at Rs 4.4 crore

Asian Granito has declared its fourth period quarter outcomes. The firm’s fourth period was down at Rs 4.4 crore as against to Rs 5 crore.

Unijolly Investments March 2011 earnings at Rs 0.15 crore

Unijolly Investments Company Limited has accounted a sales revenue of Rs 0.15 crore and a net profit of Rs 0.14 crore for the period that lasted in March 2011. For the period that lasted in March 2010 the sales revenue was Rs 0.04 crore and net profit was Rs 0.04 crore.

IND-AGIV Commerce March 2011 earnings at Rs 1.67 crore

IND-AGIV Commerce has accounted a sales revenue of Rs 1.67 and a net profit of Rs 0.37 crore for the period that lasted in March 2011. For the period that lasted in March 2010 the sales revenue was Rs 0.57 crore and net loss was Rs 0.01 crore.

Vaibhav Gems March 2011 earnings at Rs 31.93 crore

Vaibah Gems has accounted a sales revenue of Rs 31.93 and a net profit of Rs 17.53 crore for the period that lasted in March 2011.

Netlink Sol March 2011 earnings at Rs 0.09 crore

Netlink Solutions has accounted a sales revenue of Rs 0.09 crore and a net loss of Rs 0.02 crore for the period that lasted in March 2011.

Vakrangee March 2011 earnings at Rs 269.76 crore

Vakrangee Software has accounted sales revenue of Rs 269.76 crore and a net profit of Rs 13.90 crore for the period that lasted in March 2011.

Jubilant Life March 2011 earnings at Rs 563.45 crore

Jubilant Life Sciences has accounted sales revenue of Rs 563.45 crore and a net profit of Rs 51.68 crore for the period that lasted in March 2011. For the period that lasted in March 2010 the sales revenue was Rs 604.83 crore and net profit was Rs 92.01 crore.

Vista Pharma March 2011 earnings at Rs 2.61 crore

Vista Pharmaceuticals has accounted a sales revenue of Rs 2.61 crore and a net profit of Rs 0.15 crore for the period that lasted in March 2011. For the period that lasted in March 2010 the sales revenue was Rs 0.00 crore and net loss was 0.36 crore.

Vishnu Sugar March 2011 earnings at Rs 19.73 crore

Vishnu Sugar Mills has accounted sales revenue of Rs 19.73 crore and a net profit of Rs 5.61 for the period that lasted in March 2011. For the period that lasted in March 2010 the sales revenue was Rs 28.47 crore and net loss was Rs 4.85 crore.

Vision Techno March 2011 sales at Rs 0.62 crore

Vision Technology India has accounted sales revenue of Rs 0.62 and a net profit of Rs 0.02 crore for the period that lasted in March 2011.

Waterbase March 2011 sales at Rs 11.12 crore

Waterbase has accounted a sales revenue of RS 11.12 crore and a net profit of Rs 3.12 crore for the period that lasted in March 2011. For the period that lasted in March 2010 the sales revenue was 4.21 crore and net loss was Rs 0.84 crore.

BSE Sensex expands 0.39% as trading ends on a bright note

The BSE 30-share Sensex was up 72.19 points or 0.39% to 18,584.96. The index rose 109.67 points at the day's high of 18,622.44 in late trade. The Sensex fell 57.84 points at the day's low of 18,454.93 in morning trade.

The S&P CNX Nifty was up 23.80 points or 0.43% to 5,565.05.

The BSE Mid-Cap index rose 0.56% and the BSE Small-Cap index gained 0.73%. Both these indices outperformed the Sensex.

NTPC, Tata Power Company and ONGC skidded by between 1.3% to 1.86%.

BSE clocked turnover of Rs 2781 crore lower than Rs 2792.50 crore on Tuesday, 10 May 2011.

Market Breadth:

Positive 1616 Negative 1198 Unchanged 121
From the 30 share Sensex pack, 23 rose and rest fell.

BSE Sensex slightly advances 0.05% amidst market’s weak performance

The BSE 30-share Sensex was up 10.15 points or 0.05% to 18,528.96. The index rose 124.77 points at the day's high of 18,643.58 in early trade. The Sensex fell 151.60 points at the day's low of 18,367.21 in morning trade.

The S&P CNX Nifty was down flat at 5551.10.

The BSE Mid-Cap index rose 0.12% and outperformed the Sensex. The BSE Small-Cap index was flat and underperformed the Sensex.

BSE clocked turnover of Rs 2168 crore lower than Rs 3349.16 crore on Friday, 6 May 2011.

Market Breadth:

Positive 1281 Negative 1520 Unchanged 104
From the 30 share Sensex pack, 18 fell and rest rose.

INL, NBC is expected to go public in fiscal year 2012, Government says

The Union Cabinet is conferring bids to obtain state-owned firms Rashtriya Ispat Nigam (RINL) and National Buildings Construction (NBC) public this financial year, Sumit Bose, Secretary of department of Disinvestment said in a press conference in Mumbai on Monday.

Sanghvi Forging and Engineering IPO sails throughout

The Rs 36.9 crore initial public offering of Sanghvi Forging and Engineering , a forging merchandises maker, has obtained lukewarm retort from shareholders. Non-institutional (NIIs) and retail shareholders assisted the matter to sail through on final day.

GVK Power and Infra to offer for 25 road ventures in fiscal year 2012

GVK Power and Infrastructure aims to bid for 25 road ventures in Fiscal Year 2012 and is likely to monetize a component of Mumbai airport land in the following two - three months, according to a prominent official on Monday.

Impractical to deliver inflation aim in short term, RBI says

The Reserve Bank of India (RBI), which had increased rates by a heavy 50 basis points in the previous week, will not be able to deliver an inflation aim in the short term since price pressure are typically supply-driven, according to its governor.

Hindustan Unilever to offshoot FMCG exports industry

Hindustan Unilever, a unit of Anglo-dutch Unilever Plc., has told its board had sanctioned a recommendation to offshoot its fast moving consumer goods (FMCG) exports industries.

Thangamayil Jewellery 4th period net profit up at Rs 7.9 crore

Thangamayil Jewellery has declared its fourth period outcomes. The firm’s 4th period net profit was up at Rs 7.9 crore against Rs 3.7 crore. Its net sales were up at Rs 187 crore against Rs 111 crore.

High input prices hauled HUL 4th period net down 2 percent

Hindustan Unilever accounted a lower-than-expected net profit of Rs 569 crore for the fourth period (January - March), down 2 percent year-on-year due to rush forward in price of raw materials and higher excellent increases in the previous year of the quarter.

Sobha Developers 4th period PAT seen down at Rs 45.56 crore

Sobha Developers is to declare its fourth Fiscal Year 2011 outcomes. The firm’s January - March period earnings are seen down 2 percent to Rs 355.61 crore versus Rs 362.9 crore, quarter-on-quarter, QoQ.

Whirlpool 4th period net profit down at Rs 47 crore

Whirlpool of India has announced its fourth period outcomes. The firm’s 4th period net profit was down at Rs 47 crore against Rs 58 crore.

Adani power 4th period net profit up Rs 174 crore

Adani power has announced its 4th period outcomes. The firm’s fourth period net profit was up at Rs 174 crore against Rs 98 crore. Its net sales were down at Rs 856 crore against Rs 201 crore.

Mundra Port 4th period net profit up 74 percent on rush forward in cargo traffic

Mundra Port and Special Economic Zone’s fourth period (January - March) net profit increased 74 percent year-on-year to Rs 335 crore, as cargo traffic to the private sector rushed forward.

Car sales up 13 percent Year-on-Year in April, sluggish in almost 2 years

Car sales in India increased at its most sluggish speed in almost 2 years, increasing 13.2 percent prior to a year in April, as higher interest rates, fuel costs and vehicle prices tucked demand in the globe’s biggest developing auto market.

Hindalco 4th period PAT seen up 26 percent at Rs 578 crore

Aditya Birla group’s flagship firm and globe’s biggest aluminum rolling firm Hindalco Industries is expected to post fine increase in topline and EBITDA on quarter-on-quarter basis.

PTC India 4th period PAT seen up 74 percent at Rs 24 crore

PTC India, which is run by the government, is expected to post sturdy development in topline and bottomline for the period that lasted in March 2011. PTC is expected account 74 percent increase in January - March period net profit of Rs 24 crore versus Rs 14 crore in the previous year’s quarter.

Walchandnagar Industries 4th period PAT up 1.5 times at Rs 5 crore

Walchandnagar Industries has declared its fourth period outcomes. The firm’s 4th periods of fiscal year 2011 net sales were up 1.4 times at Rs 287 crore against Rs 119 crore.

KSK Energy Vent 4th period consolidated PAT down 51 percent at Rs 49 crore

KSK Energy Ventures has declared its fourth period outcomes. The firm’s 4th quarter of Fiscal Year 2011 merged net sales was twofold at Rs 337 crore against Rs 163 crore.

Suryalaksmi Cotton Mills 4th period PAT doubled at Rs 8 crore

Suryalaksmi Cotton Mills has declared its fourth period outcomes. The firm’s 4th period of Fiscal Year 2011 net sales were up 57 percent at Rs 184 crore against Rs 117 crore.

VK Power 4th period up 11 percent at Rs 37 crore

GVK Power has declared its fourth period outcomes. The firm’s 4th period net profit was up 11 percent at Rs 36.38 crore against Rs 33.1 crore.

BSE Sensex gains 1.69% as market emerges strong

The BSE 30-share Sensex was up 308.23 points or 1.69% to 18,518.81. The index rose 357.90 points at the day's high of 18,568.48 in late trade. The Sensex gained 61.10 points at the day's low of 18,271.68 in afternoon trade.

The S&P CNX Nifty was up 91.60 points or 1.68% to 5,551.45.

The BSE Mi-Cap index rose 0.93% and the BSE Small-Cap index gained 0.67%. Both these underperformed the Sensex.

BSE clocked turnover of Rs 2990 crore higher than Rs 2734.96 crore on Thursday, 5 May 2011.

Market Breadth:

Positive 1636 Negative 1172 Unchanged 121
From the 30 share Sensex pack, 24 rose and rest fell.

Paramount Printpackaging to file shares on May 9

Paramount Printpackaging will list its equity shares, submitted a moment ago through public issue, on exchanges on Monday, May 9. T has arranged issue price at higher end of price band of Rs 32-35 per share.

Piramal Health Fiscal Year 2011 PAT up at Rs 12,883.4 crore

Piramal Healthcare has declared its Fiscal Year 2011 merged outcomes. The firm’s merged net sales were down 32 percent at Rs 2,509.9 crore against Rs 3,671.1 crore.

DCM Shriram Consolidated fourth period net profit at Rs 19.5 crore

DCM Shriram Consolidated has declared its fourth period outcomes. The firm’s fourth period net profit was at Rs 19.5 crore against loss of Rs 13 lakh.

NIIT Tech Fiscal Year 2011 consolidated net profit up 44 percent at Rs 182 crore

NIIT Technologies has declared its Fiscal Year 2011 outcomes. The firm’s merged net profit was up at Rs 182 crore against Rs 126 crore.

Tata Sponge fourth period net profit up 30 percent at Rs 43 crore

Tata Sponge has declared its fourth period outcomes. The firm’s fourth period net profit was up 30 percent at Rs 43 crore against Rs 33 crore.

GSK Pharma first period net profit down at Rs 46 Lk

GlaxoSmithKline Pharmaceuticals has declared its first period outcomes. The firm’s first period net profit was down at Rs 46 lakh against Rs 161.2 crore, year-on-year, YoY.

Usher Agro fourth period net profit up at Rs 9.8 crore

Usher Agro has declared its fourth period outcomes. The firm’s fourth period net profit was up at Rs 9.8 crore against Rs 6.4 crore.

Cadilla Health 4th period consolidated PAT up 50 percent at Rs 179 crore

Cadila Healthcare has announced its fourth period outcomes. The firm’s fourth period merged net profit was up 50 percent at Rs 179 crore against Rs 119 crore.

Rolta India third period consolidated APAT up 7 percent at Rs 84 crore

Rolta India has declared its third period outcomes. The firm’s third period merged APAT was up 7 percent at Rs 84 crore against Rs 78.1 crore, quarter-on-quarter, QoQ.

Taro takes legal action over Life Sciences for patent violation

Taro Pharmaceuticals has filed a lawsuit against Suven Life Sciences in Hyderabad to halt it from opening a generic version of Ovide malathion lotion, which is applied to kill head lice.

Union Bank fourth period net profit up at Rs 597 crore

Union Bank of India, which is owned by the government, has accounted fourth period of Rs 597 crore versus Rs 594 crore in identical period in a year ago.

Debt, competition concerns haul Jyothy Lab down 3.5 percent

Jyothy Laboratories shares plunged 3.5 percent to Rs 215.50 on NSE Friday on fears that the detergent manufacturer will be weighed down with so many liabilities following taking over German Henkel Ag’s venture in Henkel India.

Manappuram mislays gleam on plunging gold, stock down 4 percent

Manappuram General Finance and Leasing (MGFL) shares plunges down 4 percent to Rs 128 in early trade Friday on fears that gold costs could plunge additionally. If that occurs, the Kerala-based loan-against-gold firm’s assets under management (AUM) could shrink, according to analysts tracking the stock.