Indian Stock Market

RSS Feed Homepage

Articles: 1, 2, 3, 4, 5

Reliance Power IPO on track
2007-10-26 17:40:00
The company has announced plans to sell 10.1% of the company making it India’s biggest IPOReliance Power has not changed its plans to list its shares, the Anil Dhirubhai Ambani Group that controls the firm said on 23 October, reacting to market speculation the initial public offer may be postponed.The company has announced plans to sell 10.1% of the company, which media reports have said may raise $2.8 billion, making it India’s biggest IPO.The group, which also has interests in telecoms, financial sector and infrastructure, controls Reliance Power through group companies including Reliance Energy, which has a 50% holding in the firm.There is a “vicious campaign of disinformation underway by vested industrial interests to stall Reliance Power’s IPO”, a spokesman for the group said in a statement.“The campaign is motivated by frustration at continuing success and rising valuations of ADA Group,” he said.Reliance Power is awaiting the approval of the market watchdog for ...
More About: Track

Market Technicals for the week ending 19th October
2007-10-16 18:23:00
Indian Market s Technic alsBoth Nifty & Sensex have become strong at these levels. The trend forfresh buying positions will continue if the markets trade beyond 5326& 18183 . There are chances that Nifty may move 446 - 447 points up &Sensex may move 1322 - 1323 points up. There are chances of a weeklymovement of around 1095 points & 3110 points in Nifty & Sensexrespectively.If the markets sustain above 5651 & 19080 levels, then they will tryto touch 5874 & 19741 levels.On the other hand, market has a weak support at 5103 & 17522 becausethe markets may further fall down to 4777 & 16626 levels from thispoint due to panic selling & profit booking which can act as a strongsupport.Intraday Market Technicals for 16th October Both Nifty & Sensex have very strong at these levels. There arechances that Nifty may open 79 - 80 points down & Sensex may open 165- 166 points down from where it will try to touch 5762 & 19261. Thereare chances of an ...
More About: Week , Ending

Market ends flat amidst volatility
2007-10-16 18:22:00
The weak global markets played a spoilsport for the domestic bourses as they ended flat note today. The market had earlier extended yesterday’s robust gains by opening on a positive note and soon surging to hit its all-time high at the onset of the trading session. It had later slipped into the red before recovering from lower level. Poor corporate earnings and renewed worries about credit hit Asian and European stocks on Tuesday, 16 October 2007, while record high oil prices threatened to add pressure to world growth. Index heavyweight Reliance Industries (RIL) edged lower. ICICI Bank and Hindalco Industries surged in late trade. Power stocks surged. Bharti Airtel recovered from lower level. State Bank of India and Hindustan Unilever were under selling pressure. Mid-cap and small-cap indices outperformed Sensex. Market breadth was weak. Reliance Energy, Reliance Communications, NTPC and ICICI Bank hit fresh all-time highs. The BSE 30-share Sensex lost 6.81 points, or 0.04%, to...
More About: Ends , Flat

High crude price weighs on US stocks
2007-10-16 18:22:00
Market ends lower as oil kisses $86 mark and Citigroup issues fourth quarter earning warning Warning from Citigroup and higher crude prices weighed on the US stocks today and the indices closed lower for the day ending Monday, 15 October, 2007. After opening slightly higher for the day, indices plunged in the morning hours in reaction to Citigroup’s earnings warning. But in the final hours, market tried recovering part of its losses. Crude oil crossed the $86/barrel mark for the first day ever. The Dow Jones industrial Average closed lower by 108.28 points at 13,984.8. The Nasdaq Composite Index, finished lower by 25.63 points at 2,780.05. S&P 500 finished lower by 13.09 points at 1,548.71. Twenty-three of thirty Dow stocks ended in red. General Motors was one of the main losers. Intel and Exxon Mobil were a couple of the seven Dow winners. After the opening bell, the indices registered little gains. But soon the earnings report from Citigroup started taking its toll on the...
More About: Stocks , Price , High , Weigh

Tata Power Company leads gainers in 'A' group
2007-10-16 18:21:00
Power generation and distribution firm Tata Power Company surged 23.49% to Rs 1,370.90 and it topped gainers in the BSE’s A group shares. The company is reportedly one of the bidders for 4,000-mega watt Krishnapatnam ultra mega power project in Andhra Pradesh. Gas distribution firm Gujarat Gas Company soared 15.99% to 358.80. It was the second biggest gainer in A group. Engineering firm Siemens spurted 12.02% to Rs 1,695.80 and came third among top gainers in A group. State run power generation firm Neyveli Lignite Corporation moved up 10.55% to Rs 123.15. It was the fourth biggest gainer in A group. State run mining firm Gujarat Mineral Development Corporation rose 10% to Rs 2,239.90. It was the fifth biggest gainer in A group.
More About: Power , Leads , Group

Power Grid Corporation of India tops volume on BSE
2007-10-16 18:21:00
Power Grid Corporation of India was the volume topper on BSE, notching total volume of 3.55 crore shares. The stock surged 11.18% to Rs 128.25. As per reports, Power Grid Corporation of India (PGCIL) is planning equity investments to the tune of Rs 16500 crore over the next five years to fund a slew of transmission projects, aimed at nearly trebling the country’s inter-regional transmission capacity. Tata Teleservices (Maharashtra) clocked volume of 3.52 crore shares. The stock jumped 5.85% to Rs 44.30. The company’s board of directors recently approved the issue and allotment of an aggregate of 1.51 crore equity shares of Rs 10 each to investors who have exercised their right to convert foreign currency convertible bonds (FCCBs) of $83.59 lakh into equity shares. It was the second most traded counter on BSE in terms of volume. IFCI came third in terms of total volumes on BSE. The stock declined 2.67% to Rs 85.80 on 1.76 crore shares. IFCI, has, reportedly given an option to it...
More About: Power , Tops

Are shipping stocks sailing smoothly?
2007-10-16 18:20:00
The shipping space is being seen a lot of buying in the past few weeks. CNBC-TV18 analysts brought attention to the shipping sector on the September 7 and since the last 26 trading days, GE has increased the stock price by about 25%; there is a gain of about 68% in case of Mercator Lines.These are the two stocks which the analysts had particularly focused on and SCI has increased by around 30% in the stock price.The fundamentals remain the same except that there is one more factor, which got added in - the tanker freight performance has started going up in the recent past. The BDI Index has performed; YTD, it gave a return of 147%. This is the index, which actually covers the spot prices among the freights all across the globe and this month, it has actually gained about 16%.Particularly this week, it has gained about 12% so that is the robustness that CNBC-TV18 analysts see in the BDI Index. The correction which it had; about 22% correction in May, seems to be a small blip in front...
More About: Stocks , Sailing , Shipping

Stocks to buy: IDFC, Tata Steel, Infosys
2007-10-16 11:11:00
IDFC Research: Morgan Stanley Rating: Overweight CMP: Rs 177 Morgan Stanley has maintained its ‘overweight’ rating on Infrastructure Development and Finance Corporation (IDFC) with an increased price target of Rs 200. IDFC is entering a phase where loan growth is strong, spreads are improving and fees are very strong. During financial year 2005 and 2007 , IDFC delivered the best core earnings progression among Indian private banks and financial institutions at a 55% componded annual growth rate (CAGR). This trend will continue, resulting in out-performance. Morgan Stanley has raised it FY08 earnings estimates by 5%. IDFC has launched the first tranche of its proposed $2 billion project equity fund along with Citi. This will result in a doubling of assets under management in 1-2 months. Moreover, its investment in the National Stock Exchange (NSE) is performing strongly, as NSE’s turnover is now averaging close to $18 billion. Given IDFC’s 8% stake in NSE...
More About: Stocks , Steel , Infosys , Tata

Sanwaria Agro Oils - Multibagger
2007-10-15 19:53:00
Sanwaria Agro Oils : Reco Price Rs. 67.90 CMP: Rs.74.65 (Gain 9.94%) by Deven Choksey, KR Choksey Sanwaria Agro Oils has been growing at a rapid pace in the recent past and is expected to do so in the coming two-three years due to the economics of packaged edible oil sector.Sanwaria Agro Oils Ltd (SAOL) is part of the Sanwaria Group, which has presence in energy (Sanwaria Energy Limited), infrastructure (Sanwaria Infrastructure Limited), edible oils (Sanwaria Agro Oils Limited) and foods (Sanwaria Foods Limited). SAOL is a solvent extraction and refining company. It is primarily engaged in Soybean processing for and Soy Oil & Soy Meal are its two main products. Soy Oil is one of the largest edible oils consumed in India Soybean Meal is mainly used for cattle feed. Besides, the company also produces and exports Soy lecithin, which is used as an emulsifier, used to increase product shelf life, reduce fat content, etc.The Company has been growing at a rapid pace in the recent ...
More About: Sanwa

Punj Lloyd - Multibagger
2007-10-15 19:49:00
Punj Lloyd : Reco Price Rs. 353.80 CMP: Rs.393.25 (Gain 11.15%) by India InfolineFor Q1FY08, the consolidated income of Punj Lloyd stood at Rs 1,394 crore, a rise of 73%, while its PAT before minority interest was at Rs 59 crore. On back of rising OPM, international presence, significant experience and strong order book, a buy rating is recommended with a price target of Rs 420.Company Discription:Punj Lloyd incorporated in 1998 is one of the largest engineering companies in India providing integrated construction and project management services to energy industry and infrastructure projects. The company has its marketing operations spread across 12 locations in and outside India. The company has acquired Sembcorp Engineers & Construction; a Singapore based company and has entered into JV with Royal Highness Prince of Saudi Arabia.Shareholding Pattern:As on 30th June 2007 Holding (%) No of shares (in lakhs) Promoter 25.7 134.2 Foreign Promoter 29.1 152 FII and MF 21.2 110....

Mkts witness profit booking
2007-10-14 11:54:00
Markets witnessed profit booking in a volatile day of trade. The Sensex was down nearly 400 points at 18419 and the Nifty was down 97 points at 5428. The CNX Midcap Index was down 1.4% and the BSE Small-cap Index was down 0.24%. The BSE Realty Index was down 3.3% and the BSE Cap Goods, Bank Indices were down 2.7% each/New listing: Koutons Retail closed at Rs 586 vs listing price of Rs 519 (issue price Rs 415). Inflation For the week ended Sep 29 was at 3.26% vs 3.42% and the market estimated 3.36%. NSE Advance Decline ratio was at 1:2. Markets recorded second highest turnover in history at Rs 122730.99 crore. Aug IIP numbers came in higher than expectations.Currency MovementYen depreciated by 10 bps at 117.4. Rupee depreciated by 33 bps at 39.43F&O SnapshotNifty Futures premium was at 29 points vs 25 points premium yesterday and added 18.6 lakh shares in OI. Fresh shorts were seen in GMR Infra, IDBI, Reliance Communication, RIL. Long unwinding was seen in TTML, IFCI, RPL.Most Bu...
More About: Profit , Witness , Booking

Q2 results to dictate near term trend
2007-10-14 11:51:00
Given that the market has witnessed a sharp and swift surge over the past few days, correction is inevitable after the sharp spurt. Q2 September 2007 results remain the key near term trigger for the market. The near term activity on the bourses is likely to be stock-specific based on Q2 result expectations. Decent to strong Q2 results are expected from cement, steel, and telecom firms. Cement and steel firms are seen reporting strong Q2 numbers on the back of firm prices whereas robust subscription growth is expected to drive earnings of cellular services providers. IT firms are seen reporting good numbers on the back of volume growth and also because September 2007 quarter is seasonally the strongest of the four quarters for IT firms. On the other hand, auto firms are seen reporting dismal numbers due to fall in volumes arising from higher interest rates. FII inflow may remain strong due to ample global liquidity further enhanced by US Federal Reserve’s last month’s steep cut...
More About: Results , Trend , Term , Result

Koutons Retail India ends with 42% premium
2007-10-14 11:47:00
Koutons Retail India settled at Rs 590.45 on BSE, a premium of 42.28% over the IPO price of Rs 415. The stock debuted at Rs 515, a premium of 24.09% over the IPO price. It touched a high of Rs 649 and a low of Rs 515. On BSE, 41.67 lakh shares of the scrip were traded. At the current price of Rs 590.45, the PE multiple works out to 52.25, based on the year ended March 2007 EPS of Rs 11.3. The company had fixed its initial public offer issue (IPO) price at Rs 415 per share, at the upper end of the Rs 370-415 price band. Koutons Retail India IPO ended on 21 September 2007 with 45.52 times subscription. It received total bids for 16.04 crore shares as against the IPO size of 35.24 lakh shares. The qualified institutional buyers (QIBs) category was subscribed over 66 times. The non-institutional investors category was subscribed 19 times. The retail investors category was subscribed 15 times. The employees category was subscribed 1.11 times. Koutons Retail India (Koutons) desig...
More About: Ends , Premium , Remi

NSE F&O Cues: Futures OI up Rs 2,465 Cr; Options OI up Rs 1,202 Cr; Sto
2007-10-11 17:49:00
Stock Futures added 2.2 crore shares in OI while Stock Options added 1.2 crore shares in OI. Stock Options OI was at Rs 4,644 crore. In Stock Options, Call OI was at Rs 3,860 crore while Put OI was at Rs 784 crore. Intra-day trading in Call premiums, Call rollovers were seen. Futures OI was up Rs 2,465 crore while Options OI was up Rs 1,202 crore. Nifty Futures OI was unchanged for third day running. Nifty OI Put-Call ratio stood at 1.39 vs 1.33. Nifty Puts added 11.6 lakh shares in OI while Nifty Calls added 1.4 lakh shares in OI.Nifty 5300 Put added 6.2 lakh shares in OI; Nifty 5400 Put added 4.8 lakh shares in OI; Nifty 5500 Put added 3.5 lakh shares in OI; Nifty 5600 Call added 4 lakh shares in OI; Nifty 5500 Call added 3.5 lakh shares in OI.Net buy by the FIIs in Nifty Futures were Rs 441.5 crore and the OI was up 31,211 contracts. Net sell by the FIIs in Stock Futures were Rs 643 crore and the OI was up 7,170 contracts.Stock Option Call Option Premium OI (lk) R...

US Market closes mixed with crude prices slipping
2007-10-10 18:03:00
Technology sector remains the sole gainer for the day with support from Apple, Google and RIMM It was a good day for Technology stocks today, 8 October, 2007 with Google crossing the $600 mark for the first time and closing at a record high. Weakness in crude oil and gold prices with the dollar strengthening partly against euro led US stocks take a hint and slip lower. Market closed mixed with only Nasdaq gaining. Nine out of ten economic sectors posted losses today. Technology remained the sole winner. The Dow Jones industrial Average closed lower by 22.28 points at 14,043.73. The Nasdaq Composite Index, finished higher by 7.07 points at 2,787.37. S&P 500 finished lower by 5.01 points at 1,552.58. Twenty-four of thirty Dow stocks ended in red. H-P, Intel and IBM were three of the six Dow performers ending in green. Alcoa headed Dow’s decliners followed by Citigroup and Wal-Mart. Trading was relatively quiet in light volume due to the Columbus Day holiday. Both U.S. governm...
More About: Mixed , Lippi , Slip , Mixe

Mkts end strong; Sensex, Nifty at all-time high
2007-10-10 18:02:00
Today Markets ended strong, Sensex went up nearly 380 pts at 18658.2; rallies nearly 1200 pts in 2 days. Nifty up 114 pts at 5441.5; rallies nearly 350 pts in 2 days. CNX Midcap Index up 1%, BSE Small-cap Index up 0.51%. BSE Cap Goods Index up 4.37%, BSE IT Index up 3.25% ahead of Infosys result. Index Gainers; Tata Power up 12%, RPL up 7.3%, L&T up 6.5%, Infosys up 3.8%. NSE Advance Decline ratio at 1:1. Total market turnover at Rs 109515.65 crCURRENCY MOVEMENTRupee appreciates by 35 bps at 39.31Yen depreciates by 15 bps at 117.38F&O SNAPSHOTNifty futures premium at 15 pts; add 26 lakh shares in OISugar stocks rally on short coveringIT Stocks witness action within the last hour of tradeNifty 5500 Call adds 3.69 lakh shares in OIMOST BUZIZNG STOCKAdlabs up 24%; add 4.4 lakh shares in OIPatel Eng up 15%; add 2 lakh shares in OIJP Associates up 13%; add 2.2 lakh shares in OITata Power up 12%; add 7.3 lakh shares in OIArvind Mills up 8%; add 35 lakh shares in OIHigh est OI Addit...
More About: Time , Strong

No stopping the bulls; Sensex gains 378 points
2007-10-10 18:02:00
After Tuesday (9 October 2007)'s solid surge, the market firmed up further today. The market hit new all-time high towards the latter part of the trading session. Easing of political worries and firm Asian markets boosted the bourses for the second day in a row. IT stocks edged higher ahead of Infosys' results which are due tomorrow, 11 October 2007. Capital goods, banking, realty and metal stocks surged. Auto stocks underperformed. The market breadth turned negative in the latter part of trade. The market had pared gains in mid-morning trade after an initial surge to a record high. Mid-cap and small-cap indices underperformed the Sensex . European markets, which opened after Indian markets, were subdued today. Asian markets, which opened before Indian markets, ended on positive note. MSCI's measure of Asia Pacific stocks excluding Japan hit a record high today. The BSE 30-share Sensex rose 378.01 points, or 2.07%, to 18,658.25, a record closing high. Sensex opened with an upwa...
More About: Bulls , Points , Topping

iGate: De-listing to bring simplicity in structure & governance; SG&
2007-10-10 17:59:00
miGate announced its results today. The Q2 (QoQ) net profit stood at Rs 22.9 crore vs Rs 14.3 crore. CNBC-TV18 poll saw net profit at Rs 16.8 crore. The Q2 revenue (QoQ) of iGate stood at Rs 200.8 crore vs Rs 199.4 crore. CNBC-TV18 poll saw revenue at Rs 204.3 crore. iGate is to de-list its India entity via buyback.i-Gate management says the overall plan of delisting Indian entity is to restructure capital, simplify structure and governance. Company is going to buy-back 18.9% of Indian entity and will continue to list in North America. Delisting is part of capital restructuring exercise. iGate Corp is reasonably serious to buy-back shares.Shareholders’ meeting for demerger is scheduled on Nov 16.Higher utilisation rates, a 100 bps improvement contributed to EBITDA. SG&A down to 16.9% of revenue and hedging strategy. Management further said that 2008 IT budget is going to be flat compared as compared to 2007. From offshoring perspective, the demand continues to be strong.iGate ...
More About: Simplicity , Governance , Listing , Structure

News Roundup
2007-10-09 07:32:00
Radico Khaitan acquires 36% in Greenfield distillery for Rs 160 Cr India’s second largest spirits marketer, Radico Khaitan, will take 36% stake in a mega greenfield distillery project in Maharashtra. Radico will be the largest shareholder in a three-way joint venture in which leading distributor and bottler, Ashok Jain-led NV Group and Riddhi Siddhi, are the other stakeholders.The greenfield JV, Radico NV Distilleries Maharashtra Ltd, will be located in Aurangabad with an installed annual capacity of 36 million litre across rectified spirit, extra neutral alcohol and ethanol. The project cost is estimated at Rs 160 crore and the venture, catering to both molasses and grain-based spirits, is expected to become operational in the next 12 months.The other two partners, Ashok Jain and Riddhi Siddhi, will hold 32% stake each in the JV. This will be Radico’s second distillery after the original facility at Rampur in Uttar Pradesh. Besides primary and secondary distillations, the ...
More About: News , Roundup

Nifty has support at 5020
2007-10-09 07:32:00
The bulls extended their winning streak to the seventh week and the Sensex has now gained a massive 25.7 per cent (3,632 points) during the period.The Sensex began last week on a cautious note and dropped to a low of 17,145. However, unabated buying thereafter saw the index come within striking distance of another milestone of 18,000. The index hit a fresh all-time intra-day high of 17,979, just 21 points short of the 18,000-mark.The intra-week swing for the index was a good 835 points. The Sensex finally ended the week with a gain of 2.8 per cent (482 points) at 17,773.This could be the key week for the markets, as the earnings season kicks off. The markets may rally further or consolidate at current levels in case the results met expectations. However, in the event of any disappointment, the markets may take a sharp dip.The Sensex is moving in unchartered territory with key support at the 17,000 levels, a break of which could see the index dropping to 15,800. On the upside, the in...
More About: Support , Nifty

Trading Spotlight
2007-10-09 07:29:00
Gainers:Adani EntStock up 9.1%; del vol of 25%NSE vol of 14 lakh shares Vs 10-day avg of 7 lakh sharesRecent news is that it is considering IPO for its power and real estate businessiGateStock up 8.8%; del vol of 54%NSE vol of 1 lakh shares Vs 10-day avg of 30 thousand sharesStock up ahead of resultsTake SolutionsStock up 11%; del vol of 39%NSE vol of 2.3 lakh shares Vs 10-day avg of 88 thousand sharesElgi EquipStock up 9.6%; del vol of 80%NSE vol of 1.3 lakh shares Vs 10-day avg of 63 thousand sharesUp 23% in one monthAmtek IndiaStock up 8.2%; del vol of 94%NSE vol of 45 lakh shares Vs 10-day avg of 92 thousand sharesWarburg Pincus buys 38 lakh shares @ Rs 159.5/sh (4.13% stake)Stiching Pension Funds Abp sells 38 lakh shares @ Rs 159.5/shLosers:JSW SteelStock down 6.6%; del vol of 46%NSE vol of 4.4 lakh shares Vs 10-day avg of 7.5 lakh sharesUp 29% in one month; Announced good Q2 production numbers last thursday;Speculators might have off loaded their positions or company might hav...
More About: Trading , Spotlight

Fund Action
2007-10-09 07:29:00
Power GridJanus Special Equity Fund buys 2.85 cr shares @ Rs 103/shAmtek IndiaWarburg Pincus buys 38 lakh shares @ Rs 159.5/sh (4.13% stake)Stichting Pension Funds Abp sells 38 lakh shares @ Rs 159.5/shTorrent PharmaICICI Securities buys 26 lakh share s@ Rs 186/sh (3% stake)Mavi Inv sells 26 lakh shares @ Rs 186/shDabur IndiaICICI Prudential Life Insurance buys 1.51 cr shares @ Rs 107/sh (1.75% stake)Recent Fund Action :Merrill Lynch Capital Markets buys 1 cr shares @ Rs 107/sh (1.16 % stake) on 4th OctC & CBear Sterns buys 1 lakh shares @ Rs 215/shIndowind EnergyUBS Sec buys 5 lakh shares @ Rs 150/shEmcoFranklin Templeton MF buys 5 lakh shares @ Rs 1060/sh (4.9% stake)Morgan Stanley MF sells 5.43 lakh shares @ Rs 1060/shGateway DistriparksLIC buys 5.8 lakh shares @ Rs 144/sh (0.5% stake)Murudeshwar CeramicsKotak Mahindra buys 2.16 lakh share s@ Rs 136.8/shRecent Fund Action:Morgan Stanley Dean Witter bought 1 lakh shares @ Rs 139.04/sh on 3rd OctNava Bharat VenturesBear Sterns ...

Lanco Industries Ltd.
2007-10-09 07:26:00
Lanco Industries Ltd. - Multibagger (Ashish Chugh)CMP – Rs. 45.70 Lanco Industries Ltd. is a part of Electrosteel Castings Group and manufactures Ductile Iron Pipes, Pig Iron, Cement and Coke.The company was originally promoted by Hyderabad based Lanco Group in 1992. The company set up a Mini Blast Furnace (MBF) in 1994 with a capacity of 90,000 TPA to manufacture Pig Iron. The company later entered into an arrangement to supply Molten Iron and Pig Iron to Lanco Kalahasthi Castings Limited, a group company whose manufacturing operations were located in the same premises as Lanco Industries. Lanco Kalahasthi Castings was originally engaged in the business of Iron Castings and Forgings, added high technology Ductile Iron Pipes manufacturing to its portfolio.In 2002, both Lanco Industries Ltd. and Lanco Kalahasthi Castings Ltd. saw a change in ownership - Electrosteel Castings Limited entered into a strategic alliance with Lanco Industries and Lanco Kalahasthi Castings by acquiring 4...
More About: Trie

Analysts` corner
2007-10-09 07:26:00
Bajaj AutoReco price: Rs 2,541Current price: Rs 2,612Target price: NABrokerage: Motilal OswalBajaj Auto has taken aggressive steps to re-invent itself. From playing the volumes game in the entry level segment, it has shifted focus to strengthening its dominance in the premium motorcycle segment.The company has also created an identity for Indian motorcycles in the global market, where it is targeting 10 per cent market share by the year 2010. While its core business profitability is expected to improve from here on, its insurance business is a potential value driver.The report also includes the improvement in operating margins at 14.7 per cent in 2HFY08 and 15 per cent in FY09. The broking house arrived at an SOTP-based price target of Rs 3,065.Its auto business is valued at Rs 1,190 per share (15 times FY09E earnings), financial services at Rs 683 per share and holding company at Rs 1,191 per share. Its SOTP valuation indicates a 21 per cent upside from the recommended price. 3i In...
More About: Corner , Anal

Correction could continue
2007-10-09 07:23:00
There is strong support at Nifty 5065 and it is quite likely that the market will oscillate between 5120-5220.A burst of sustained buying on Wednesday propelled the market to new highs. Thursday and Friday saw more muted trading and some profit-taking.The Nifty moved above 5200 to 5260 levels before easing back to 5185 points for a week-on-week gain of 3.28 percent. The Sensex hit highs of 17979 before closing at 17773 for a gain of 2.79 per cent. The Defty was up 3.85 per cent as the rupee continued to gain muscle.Domestic and foreign investors showed contrasting attitudes. The FIIs remained very positive while the Indian funds were consistent sellers through the week. Overall advance-declines ratios were positive and volumes were good.The BSE 500 was up 2.31 per cent. The Nifty Junior crossed 10,000 before actually seeing a weekly decline of 1.47 per cent – the Bank Nifty saw a sell-off of 2.45 per cent, which was reflected in the Junior because of the high bank representation i...
More About: Conti , Rect

iGate Global Solutions leads gainers in 'A' group
2007-10-09 07:23:00
Software firm iGate Global Solutions soared 9.76% to Rs 264.25 and it topped gainers in the BSE’s A group shares. The company will announce its Q2 September 2007 results on 10 October 2007. Infrastructure firm Lanco Infratech jumped 4.02% to Rs 406.40. It was the second biggest gainer in the A group. On 5 October 2007, the company announced bagging a Rs 7.30-crore order from Tirupati, India for constructing a university. Sponge iron maker Jindal Steel & Power gained 3.47% to Rs 6693.30 and it came third among top gainers in A group. As per recent reports, the company will spend $600 million to build an electricity plant in Turkey, which would help power company’s planned factories to make chrome and stainless steel in Turkey. IT firm Satyam Computer moved up 2.50% to Rs 455.55. It came fourth among top gainers in A group. The company will declare Q2 September 2007 results on 23 October 2007. Food processing firm Nestle India rose 2.28% to Rs 1299.90. It was the fifth bigges...
More About: Leads , Group