SRF Technically, Looks Great JUST BUY N BUY
No Problem for Bulls !!!!
Buy Back Already Approved, Now, It's Time to Trader to buy the Stock.
REALITY STOCK LOOKS SUPERB
One should expect a choppy trading session be stock specefic,Important levels to watch on the Nifty now are 4800 on the upside and 4630-4635 on the lower side
Bullish or +ve Indices
Bank
Positional Calls
Buy Aartind- 34
Buy Cairn- 282
Buy Essoroil- 249
Buy Indiacem-166
Buy MTNL-96
For target pls subscribe only for memebers
The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,483.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,832.50 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs349.30 Crore) and net debt was Rs0.00 Crore.
Today, BSE Sensex has support at 15,641 and resistance at 16,387.
Market to stay cautious ahead of oil price decision
The fuel hike measure to be decided today is something the markets have to contend with. It’s a bit of a paradox as any increase in fuel prices will help oil PSUs (to a small extent) while at the same time, the move could push inflation towards the double-digit mark. The government will have to do some balancing act (in sentiment at least). What kind of package the Government has in store for the state-run oil firms, we may know by the end of the day.
The market managed to stage a smart comeback after being pounded in early morning trades. Short-covering in the afternoon lifted the key indices from the day's low. The bounce was particularly remarkable considering that most Asian markets were down sharply. It would be interesting to see if the bulls are able to continue the recovery process after the recent reversals. The market breadth remained negative and the sell-off came on much higher volume. The market is expected to go down further given the nervousness over the impending fuel price hike and its fallout on inflation and economic growth.
There are also murmurs of political instability with the Left Front reportedly planning to consider its ties with the Congress-led coalition regime. With general elections due in the first half of next year, this may not happen. In any case, the market is more worried about high oil prices, soaring inflation, slowing GDP growth, global financial turmoil and foreign capital outflows. Though some of these negative factors have already been factored in, each day seems to bring in fresh set of bad news. Technically too, the market appears to be a bit weak. On the Nifty, 4630 is seen as the next big support. Below this level though there could be danger.
Coming to today's outlook, we expect a cautious opening on the back of the overnight fall in US stocks and mixed trend in Asian markets.
AIA Engineering, Orbit Corp, Royal Orchid Hotels and Shasun Chemicals will declare their results today. AIA Engineering will also consider a stock split.
Shares of Anu’s Laboratories Ltd. and Gokul Refoils & Solvent Ltd. will get listed today.
Wednesday, June 4, 2008
Tuesday, June 3, 2008
Float around, don’t fall
Nifty (4740) Supp 4630 Res 4820
BUY IN DIPS IS OUR FUNDA FOR TODAY SPECIFIC STOCK
for more subscribe with us
We expect our market to extend yesterday's selloff, given the plethora of negative factors, both local and global. Also, technical and F&O indicators are far from positive, and signal more pain in the immediate future. Select buying may always take place at lower levels. Review your financial comfort before adding stocks. Remain cautious at this juncture as the undertone has suddenly taken a reverse swing. FIIs continue to be net sellers. Supporting the market at this juncture is not on anyone’s agenda. 4800 was seen as a big support for the Nifty. But, that level was breached quite easily yesterday. The put-call ratio of option contracts expiring in June is also indicating further slide. Nifty futures continues to trade at a discount to the spot index and saw addition in its open interest, suggesting fresh build up in short positions. It remains to be seen if these shorts will get covered over the next few days or will there be further increase. Given this backdrop, one has no choice but to stay on the sidelines before there is more clarity on the market's direction.
Today's Pick - Moser Baer
We recommend a sell in Moser Baer India from a short-term perspective. The stock has been on an intermediate-term down trend from its January 2008 peak at Rs 344.
However, the corrective up move from March low of Rs 119 to May high of Rs 201 in the stock has retraced almost 38.2 per cent fibonacci retracement of its prior down move. After encountering resistance at around Rs 200, the stock resumed the downtrend. It tumbled 5 per cent, penetrating the 21-day moving average on June 2, 2008.
The daily momentum indicator is declining in the neutral region. The moving average convergence and divergence has displayed negative divergence and is indicating a sell. Our short-term outlook for the stock is bearish. We expect the stock to decline further until it hits our price target of Rs 150 in the short-term. Traders with short-term perspective can sell the stock while keeping the stop-loss at Rs 182 leve
Corporate News
Tata Motors has acquired the Jaguar Land Rover business from Ford Motor for a net consideration of US$2.3bn. (ET)
Bharti Airtel and US based VeriSign enter into 3 year arrangement for developing security solutions for Indian corporates. (ET)
Infosys has bagged patents for mobile tech, holography from the US Patent and Trademark Office. (ET)
Axis Bank and Yes Bank are securitizing loans worth over Rs10bn that were extended to HPCL and BPCL. (BS)
Ambuja Cement is set to buy a stake in ACC’s ready-mix concrete subsidiary – ACC Concrete. (ET)
ICICI Bank has raised interest rates on credit cards. (BL)
The financial closure of the Krishnapatnam UMPP of Reliance Power would be achieved in the coming three months. (BL)
SBI has launched its Agriculture Debt Waiver and Debt Relief Scheme-2008 in Jamli village near Indore. (BS)
GAIL India says its 100% subsidiary GAIL Gas will take up city gas distribution projects in 17 cities in the first phase. (BL)
IOC is in initial phase of discussions with ITC for merchandise supplies from the latter’s Choupal Sagar stores for its 2,050 kisan seva kendra (KSK) outlets across the country. (FE)
Videocon-promoted Datacom will invite bids for rolling out 70mn GSM mobile lines envisaging an investment of over Rs120bn in the next four years. (ET)
Jet Airways, SpiceJet, Kingfisher and other airlines have told the government they would curtail services frequency and air routes to cut losses after oil companies raised ATF prices by 18.5%. (BS)
The Kingfisher-Deccan combine has decided to increase fuel surcharge by Rs300-550. (BL)
Jindal Steel & Power is planning to build a Rs50bn, 1,080-mw, coal-fired captive power plant in Orissa. (BS)
Hexaware has appointed Mr P.R. Chandrasekar as the CEO and Vice-Chairman and Prateek Aggarwal as the CFO of the company. (BL)
HCL Info, HP, LG and Zenith are raising prices of personal computers (laptops and desktops), LCDs and plasma TVs, and IT peripherals by up to 13%. (BS)
The Allahabad Bank board has approved the proposal to raise about Rs1.5bn from selling rights shares to stakeholders. (BS)
Emami and a string of entities acting in concert purchased 23.6% stake from one of the promoter groups of Zandu Pharma at Rs6,900 per share for Rs1.3bn. (BL)
The Parikh family, co-promoters of Zandu Pharma is not in favour of selling its stake to Emami. (ET)
Dabur Group and the US-based Liberty Mutual Group have announced their plan to form a non-life insurance company. (BL)
The department of fertilizers has asked RCF to go ahead with the pre-project and pre-investment activities for the revival of Hindustan Fertiliser Corporation’s (HFC) Durgapur plant and Fertiliser Corporation of India’s (FCI) Talcher unit. (FE)
As part of its diversification plans, Omaxe is eyeing the power sector through its new subsidiary Omaxe Power. (BS)
Indus Fila is planning to invest Rs2bn in retail and set up 30-40 retail outlets within a year. (BS)
Sobha Developers is foraying into Mysore realty market with three projects. (BS)
Logix Microsystems will soon open an advanced photography studio in Brussels as part of its plans to enter the European market. (BS)
TDSAT has restrained BSNL from disconnecting Tata Tele over non-payment of access deficit charge. (BS)
Tamil Nadu Newsprint and Papers plans to tie up with other paper mills to get the surplus pulp converted to paper. (BL)
Bharat Gears has wiped out all its accumulated losses and has drawn up capex plans to cater to higher demand as well as technological upgradation. (BL)
The Burmans (Dabur group) plans to foray into clinical services segment through OncQuest, a privately held company. (ET)
Spanco BPO, the hived-off BPO unit of Spanco Telesystems is on the lookout for a Rs1bn KPO buy. (DNA)
Phoenix Mills is in the process of forming a separate company to manage all its real estate assets. (ET)
Vodafone has offered SouthAfrica’s Telkom to buy a further 12.5% stake in mobile operator Vodacom for US$2.47bn. (ET)
Tata Sky has cut its subscription rates.
BUY IN DIPS IS OUR FUNDA FOR TODAY SPECIFIC STOCK
for more subscribe with us
We expect our market to extend yesterday's selloff, given the plethora of negative factors, both local and global. Also, technical and F&O indicators are far from positive, and signal more pain in the immediate future. Select buying may always take place at lower levels. Review your financial comfort before adding stocks. Remain cautious at this juncture as the undertone has suddenly taken a reverse swing. FIIs continue to be net sellers. Supporting the market at this juncture is not on anyone’s agenda. 4800 was seen as a big support for the Nifty. But, that level was breached quite easily yesterday. The put-call ratio of option contracts expiring in June is also indicating further slide. Nifty futures continues to trade at a discount to the spot index and saw addition in its open interest, suggesting fresh build up in short positions. It remains to be seen if these shorts will get covered over the next few days or will there be further increase. Given this backdrop, one has no choice but to stay on the sidelines before there is more clarity on the market's direction.
Today's Pick - Moser Baer
We recommend a sell in Moser Baer India from a short-term perspective. The stock has been on an intermediate-term down trend from its January 2008 peak at Rs 344.
However, the corrective up move from March low of Rs 119 to May high of Rs 201 in the stock has retraced almost 38.2 per cent fibonacci retracement of its prior down move. After encountering resistance at around Rs 200, the stock resumed the downtrend. It tumbled 5 per cent, penetrating the 21-day moving average on June 2, 2008.
The daily momentum indicator is declining in the neutral region. The moving average convergence and divergence has displayed negative divergence and is indicating a sell. Our short-term outlook for the stock is bearish. We expect the stock to decline further until it hits our price target of Rs 150 in the short-term. Traders with short-term perspective can sell the stock while keeping the stop-loss at Rs 182 leve
Corporate News
Tata Motors has acquired the Jaguar Land Rover business from Ford Motor for a net consideration of US$2.3bn. (ET)
Bharti Airtel and US based VeriSign enter into 3 year arrangement for developing security solutions for Indian corporates. (ET)
Infosys has bagged patents for mobile tech, holography from the US Patent and Trademark Office. (ET)
Axis Bank and Yes Bank are securitizing loans worth over Rs10bn that were extended to HPCL and BPCL. (BS)
Ambuja Cement is set to buy a stake in ACC’s ready-mix concrete subsidiary – ACC Concrete. (ET)
ICICI Bank has raised interest rates on credit cards. (BL)
The financial closure of the Krishnapatnam UMPP of Reliance Power would be achieved in the coming three months. (BL)
SBI has launched its Agriculture Debt Waiver and Debt Relief Scheme-2008 in Jamli village near Indore. (BS)
GAIL India says its 100% subsidiary GAIL Gas will take up city gas distribution projects in 17 cities in the first phase. (BL)
IOC is in initial phase of discussions with ITC for merchandise supplies from the latter’s Choupal Sagar stores for its 2,050 kisan seva kendra (KSK) outlets across the country. (FE)
Videocon-promoted Datacom will invite bids for rolling out 70mn GSM mobile lines envisaging an investment of over Rs120bn in the next four years. (ET)
Jet Airways, SpiceJet, Kingfisher and other airlines have told the government they would curtail services frequency and air routes to cut losses after oil companies raised ATF prices by 18.5%. (BS)
The Kingfisher-Deccan combine has decided to increase fuel surcharge by Rs300-550. (BL)
Jindal Steel & Power is planning to build a Rs50bn, 1,080-mw, coal-fired captive power plant in Orissa. (BS)
Hexaware has appointed Mr P.R. Chandrasekar as the CEO and Vice-Chairman and Prateek Aggarwal as the CFO of the company. (BL)
HCL Info, HP, LG and Zenith are raising prices of personal computers (laptops and desktops), LCDs and plasma TVs, and IT peripherals by up to 13%. (BS)
The Allahabad Bank board has approved the proposal to raise about Rs1.5bn from selling rights shares to stakeholders. (BS)
Emami and a string of entities acting in concert purchased 23.6% stake from one of the promoter groups of Zandu Pharma at Rs6,900 per share for Rs1.3bn. (BL)
The Parikh family, co-promoters of Zandu Pharma is not in favour of selling its stake to Emami. (ET)
Dabur Group and the US-based Liberty Mutual Group have announced their plan to form a non-life insurance company. (BL)
The department of fertilizers has asked RCF to go ahead with the pre-project and pre-investment activities for the revival of Hindustan Fertiliser Corporation’s (HFC) Durgapur plant and Fertiliser Corporation of India’s (FCI) Talcher unit. (FE)
As part of its diversification plans, Omaxe is eyeing the power sector through its new subsidiary Omaxe Power. (BS)
Indus Fila is planning to invest Rs2bn in retail and set up 30-40 retail outlets within a year. (BS)
Sobha Developers is foraying into Mysore realty market with three projects. (BS)
Logix Microsystems will soon open an advanced photography studio in Brussels as part of its plans to enter the European market. (BS)
TDSAT has restrained BSNL from disconnecting Tata Tele over non-payment of access deficit charge. (BS)
Tamil Nadu Newsprint and Papers plans to tie up with other paper mills to get the surplus pulp converted to paper. (BL)
Bharat Gears has wiped out all its accumulated losses and has drawn up capex plans to cater to higher demand as well as technological upgradation. (BL)
The Burmans (Dabur group) plans to foray into clinical services segment through OncQuest, a privately held company. (ET)
Spanco BPO, the hived-off BPO unit of Spanco Telesystems is on the lookout for a Rs1bn KPO buy. (DNA)
Phoenix Mills is in the process of forming a separate company to manage all its real estate assets. (ET)
Vodafone has offered SouthAfrica’s Telkom to buy a further 12.5% stake in mobile operator Vodacom for US$2.47bn. (ET)
Tata Sky has cut its subscription rates.
Monday, June 2, 2008
Nifty 4700 or 5100 ,To Know Subscribe with Us
Keep eyes on sterlite ind,Bhushan steel, Ispat Ind
Nifty (4870) Sup 4780 Res 4910
Bulls look to carry momentum
Today's Pick - TV18
We recommend a buy in TV 18 from a short-term perspective. We note that the stock has been on an intermediate-term downtrend form its January 2008 high of Rs 599 levels. However, the stock found support at around Rs 300 level in late April and again in mid May the stock found support just above this level.
The stock has formed a falling wedge pattern spanning over the past four months, which is a bullish pattern. Falling wedge pattern has occurred at the bottom of the downtrend indicating reversal in the current trend. The daily momentum indicator has found support at 40 levels recently and bounced up. The daily moving average convergence and divergence is displaying positive divergence, supporting our bullish view.
We are bullish on the stock in the short-term. We expect the stock to rally to our price target of Rs 360 in the upcoming trading sessions. Traders with short-term perspective can buy the stock while keeping the stop-loss at Rs 300
Market's worst fears have turned out to be a case of false alarm. We are of course talking about the GDP numbers, which came in ahead expectations. At 9%, the FY08 GDP growth beat all optimistic forecasts. That too when most were expecting a contraction due to a slowdown in industrial activity. An improved show by the farm sector helped as did the continued momentum in services. For the current fiscal year, expectations are for 8-8.5% GDP growth. This is pretty good considering the fact that it will come on top of the high base of last year. What's more, the strong growth momentum underscores India's long-term macro-economic fundamentals amid a slew of headwinds and a slowing global economy. So, in that sense, the bulls should be happy.
Of course, ground reality remains that rising inflation is reducing the weight of wallets across the board. Inflation has the potential to touch double-digits in a few week's time. If inflation does spiral out of control, the RBI will have no choice but to resort to some tightening measures. The RBI may even hike the repo rate, which may not please India Inc and the bulls.
For the day, we expect the market to open on a cautious to flat note as most global markets are sluggish. Thereafter, the trend will turn sideways and rangebound. With the GDP data out of the way, the focus will be on crude oil prices and whether the Government manages to bite the bullet and increase retail fuel prices.
Corporate News
Sterlite Industries to buy operating assets of Asarco, a US based mining, smelting and refining firm for US$2.6bn. (BL)
Essar Oil bids for an offshore block in Australia; in talks with foreign companies to explore for oil in Egypt and Yemen. (BS)
Emaar MGF plans to develop 31mn sq.ft of commercial, residential, SEZs and hospitality spaces in South India at an investment of Rs125bn.(FE)
HDFC Venture has picked up 49% stake in two subsidiaries of Godrej Properties, the real estate arm of Godrej group.(BS)
Government asks NTPC to resolve all its disputes with foreign vendors.(ET)
JSW Steel to invest US$500mn over next three years to expand capacity of iron ore mines acquired in Chile.(BL)
L&T plans to invest Rs25bn in the current fiscal to augment capacities at its growth centers.(DNA)
Bajaj Auto posts 7.6% growth in motorcycles sales in May; Hero Honda motorcycles sales growth rises 9.5%.(BS)
Tata Steel to raise its Jamshedpur plant capacity to 10mn tons pa by 2010.(BL)
M&M defers its plan to build a Rs4bn tractor facility in Chennai.(BS)
Apollo Gleneagles to invest Rs14bn in the next two years to set up 2,000 more beds.(BL)
Alstom Power is likely to enter into a US$500mn JV with Bharat Forge.(ET)
BSNL may go for a listing as trade unions likely to respond positively to the government’s call in this regard.(TOI)
Godrej Properties files a draft prospectus for its IPO; estimated to raise up to Rs6bn.(FE)
Air India announces hike in fare prices as ATF prices go up.(Mint)
Essar Oil to raise fresh debt of up to US$5bn through ECB.(BL)
Rashtriya Ispat Nigam is mulling a merger with NMDC.(BL)
Emami group acquires 27.5% stake in Zandu Pharmaceutical.(TOI)
Satyam Computers takes on lease 0.4mn sq ft of office space in Chennai SEZ.(BL)
UB Group in talks with France based EADS Socata to invest US$200mn to co-develop business for jets.(DNA)
BPCL may improve capacity utilization after merger with IOC. (BL)
L&T on look out for a JV with Indian Railways to manufacture equipment for the railways.(ET)
Elder Pharmaceuticals to invest Rs250mn in API space.(DNA)
Times of India group buys UK based Virgin Radio for Rs4.5bn.(TOI)
Genpact, EXL Services may buy a major stake in Infovision.(ET)
Sun Pharma to file 30 ANDAs in FY09.(DNA)
MRTPC issues notification to Dish TV over misleading advertisement of its free set-top box offer.(TOI)
DHL is planning to make an offer to shareholders of Blue Dart.(ET)
Mercator Lines renews a vessel charter to ArcelorMittal for two more years.(BL)
WNS Holdings emerges as the highest bidder for Aviva’s BPO operations with an offer of US$200mn.(ET)
Economic News
Fiscal deficit touches Rs329bn for April; constitutes 24.7% of the fiscal 2009 target.(FE)
Government allowssoftware developers, hotels and hospitals to raise up to US$100mn for import of capital goods.(ET) Government is believed to have decided to impose 15% export duty on iron ore.(TOI)
Air fares to go up with the government announcing an 18.5% average increase in ATF prices.(FE)
India turns into a net importer of steel with imports of 7mn tons in 2007-08.(BS)
Committee of Secretaries decides to remove export duty on most steel products.(DNA)
JNPT to invest Rs70bn in an up gradation drive.(ET)
Kerala and West Bengal government may reduce sales tax on petrol and diesel.(BS)
Department of Post in talks with Deutsche Postbank to enter into housing loan business.(FE)
Government to consider uniform state laws for liquor.(BS)
Finance ministry turns down a proposal from DIPP to give 35% abatement on excise duty to cement manufacturers.(ET)
Government announces 1% reduction in central sales tax.(FE)
RBI issues new draft norms to review current stipulations to minutely monitor off-balance sheet exposures of banks.(ET)
GoM to take a call on whether foreign and domestic companies can participate in the auction for 3G spectrum.(FE)
Indian shipping firms would meet a global deadline to phase out all single-hull tankers by 2010
Nifty (4870) Sup 4780 Res 4910
Bulls look to carry momentum
Today's Pick - TV18
We recommend a buy in TV 18 from a short-term perspective. We note that the stock has been on an intermediate-term downtrend form its January 2008 high of Rs 599 levels. However, the stock found support at around Rs 300 level in late April and again in mid May the stock found support just above this level.
The stock has formed a falling wedge pattern spanning over the past four months, which is a bullish pattern. Falling wedge pattern has occurred at the bottom of the downtrend indicating reversal in the current trend. The daily momentum indicator has found support at 40 levels recently and bounced up. The daily moving average convergence and divergence is displaying positive divergence, supporting our bullish view.
We are bullish on the stock in the short-term. We expect the stock to rally to our price target of Rs 360 in the upcoming trading sessions. Traders with short-term perspective can buy the stock while keeping the stop-loss at Rs 300
Market's worst fears have turned out to be a case of false alarm. We are of course talking about the GDP numbers, which came in ahead expectations. At 9%, the FY08 GDP growth beat all optimistic forecasts. That too when most were expecting a contraction due to a slowdown in industrial activity. An improved show by the farm sector helped as did the continued momentum in services. For the current fiscal year, expectations are for 8-8.5% GDP growth. This is pretty good considering the fact that it will come on top of the high base of last year. What's more, the strong growth momentum underscores India's long-term macro-economic fundamentals amid a slew of headwinds and a slowing global economy. So, in that sense, the bulls should be happy.
Of course, ground reality remains that rising inflation is reducing the weight of wallets across the board. Inflation has the potential to touch double-digits in a few week's time. If inflation does spiral out of control, the RBI will have no choice but to resort to some tightening measures. The RBI may even hike the repo rate, which may not please India Inc and the bulls.
For the day, we expect the market to open on a cautious to flat note as most global markets are sluggish. Thereafter, the trend will turn sideways and rangebound. With the GDP data out of the way, the focus will be on crude oil prices and whether the Government manages to bite the bullet and increase retail fuel prices.
Corporate News
Sterlite Industries to buy operating assets of Asarco, a US based mining, smelting and refining firm for US$2.6bn. (BL)
Essar Oil bids for an offshore block in Australia; in talks with foreign companies to explore for oil in Egypt and Yemen. (BS)
Emaar MGF plans to develop 31mn sq.ft of commercial, residential, SEZs and hospitality spaces in South India at an investment of Rs125bn.(FE)
HDFC Venture has picked up 49% stake in two subsidiaries of Godrej Properties, the real estate arm of Godrej group.(BS)
Government asks NTPC to resolve all its disputes with foreign vendors.(ET)
JSW Steel to invest US$500mn over next three years to expand capacity of iron ore mines acquired in Chile.(BL)
L&T plans to invest Rs25bn in the current fiscal to augment capacities at its growth centers.(DNA)
Bajaj Auto posts 7.6% growth in motorcycles sales in May; Hero Honda motorcycles sales growth rises 9.5%.(BS)
Tata Steel to raise its Jamshedpur plant capacity to 10mn tons pa by 2010.(BL)
M&M defers its plan to build a Rs4bn tractor facility in Chennai.(BS)
Apollo Gleneagles to invest Rs14bn in the next two years to set up 2,000 more beds.(BL)
Alstom Power is likely to enter into a US$500mn JV with Bharat Forge.(ET)
BSNL may go for a listing as trade unions likely to respond positively to the government’s call in this regard.(TOI)
Godrej Properties files a draft prospectus for its IPO; estimated to raise up to Rs6bn.(FE)
Air India announces hike in fare prices as ATF prices go up.(Mint)
Essar Oil to raise fresh debt of up to US$5bn through ECB.(BL)
Rashtriya Ispat Nigam is mulling a merger with NMDC.(BL)
Emami group acquires 27.5% stake in Zandu Pharmaceutical.(TOI)
Satyam Computers takes on lease 0.4mn sq ft of office space in Chennai SEZ.(BL)
UB Group in talks with France based EADS Socata to invest US$200mn to co-develop business for jets.(DNA)
BPCL may improve capacity utilization after merger with IOC. (BL)
L&T on look out for a JV with Indian Railways to manufacture equipment for the railways.(ET)
Elder Pharmaceuticals to invest Rs250mn in API space.(DNA)
Times of India group buys UK based Virgin Radio for Rs4.5bn.(TOI)
Genpact, EXL Services may buy a major stake in Infovision.(ET)
Sun Pharma to file 30 ANDAs in FY09.(DNA)
MRTPC issues notification to Dish TV over misleading advertisement of its free set-top box offer.(TOI)
DHL is planning to make an offer to shareholders of Blue Dart.(ET)
Mercator Lines renews a vessel charter to ArcelorMittal for two more years.(BL)
WNS Holdings emerges as the highest bidder for Aviva’s BPO operations with an offer of US$200mn.(ET)
Economic News
Fiscal deficit touches Rs329bn for April; constitutes 24.7% of the fiscal 2009 target.(FE)
Government allowssoftware developers, hotels and hospitals to raise up to US$100mn for import of capital goods.(ET) Government is believed to have decided to impose 15% export duty on iron ore.(TOI)
Air fares to go up with the government announcing an 18.5% average increase in ATF prices.(FE)
India turns into a net importer of steel with imports of 7mn tons in 2007-08.(BS)
Committee of Secretaries decides to remove export duty on most steel products.(DNA)
JNPT to invest Rs70bn in an up gradation drive.(ET)
Kerala and West Bengal government may reduce sales tax on petrol and diesel.(BS)
Department of Post in talks with Deutsche Postbank to enter into housing loan business.(FE)
Government to consider uniform state laws for liquor.(BS)
Finance ministry turns down a proposal from DIPP to give 35% abatement on excise duty to cement manufacturers.(ET)
Government announces 1% reduction in central sales tax.(FE)
RBI issues new draft norms to review current stipulations to minutely monitor off-balance sheet exposures of banks.(ET)
GoM to take a call on whether foreign and domestic companies can participate in the auction for 3G spectrum.(FE)
Indian shipping firms would meet a global deadline to phase out all single-hull tankers by 2010
Friday, May 30, 2008
Rs. 1000/- a Day, Can Earn HAPPINESS For You
FOR Pre Market Watch - May 30 2008 VISIT
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http://www.freewebs.com/jgs-investments/marketwhisper.htm
Good News
Paid trial for one week is Rs.1750/-
Add Rs.175/- towards Bank Charges if Depositing Cash
Or Subscribe here
http://www.freewebs.com/jgs-investments/ratesservices.htm
For Intraday service,we are taking 1000 rs fees in advance
( fees of 2-3 calls in advance).
For Positional Calls service, we are taking 1000 rs in advance
( fees of 2-3 call in advance).
Note :
Foreign Clients Please Inform Us By E-Mail After Sending Money Through Western Union Money Transfer About Allocation Number.
Indian Clients Please Inform Us By E-Mail After Sending Money Or After Deposit Of Money In Our ICICI Bank Account.
You will be added in our list instantly
Mukesh Ambani - Most Expensive Home
Owners of 168 cars
The house is 173.12 metres tall, equal to a 60-floor building. However, his home will have only 27 floors, meaning that every floor will have an extremely high ceiling.
The first six floors are intended exclusively as a parking area, for cars which belong to the Mukesh family. A total of 168.
The eighth floor is an entertainment centre with a mini theatre and about 50 seats. The ceiling of the mini theatre is a garden and above it are three more balconies with special gardens – a replica of the gardens of Babylon.
27 floors for a 6-member family
The ninth floor was created for emergency rescue, while two floors above it are reserved for treatments and health.
One of them is furnished with sports equipment, halls and a swimming pool, while the other is a cutting edge gym. Above the health floors are guest rooms which have glass walls instead of classic ones.
The first four floors have a wonderful view of the Arabian Sea and the city itself. These floors are intended for Mukesh, his wife Neeta, their three children and Mukesh`s mother Kokilaben.
600 servants
The top two floors will be maintenance rooms and a control room, which will assist helicopters as they land on the roof
A 600-man permanently employed staff is necessary for maintenance. The home took four years to be built. Atilla does not only impress with its size, but with its most luxurious interior design.
Mukesh owns Reliance Industries, the largest Indian private oil and bio technology company. During the time of Mukesh`s father Dhiru Bhai, wealthy Indians used to hide their fortune.
Obviously, this trend has changed and those who have money want to show it to the entire world
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Thursday, May 29, 2008
Our Btst Tatasteel,Nifty .......
Buy In Truck TATA Steel
The coming session is likely to witness a range of 4975 on advances and 4860 on declines. The 4890 level will be a bullish pivot, above which the markets may remain firm.
Today, Nifty has support at 4,831 and resistance at 5,016 and BSE Sensex has support at 16,217 and resistance at 16,939.
WELSPUN GUJARAT....................
Buy around 358 to 360
ACC LTD..........................
Buy Around 668 to 670
GMR INFRA......................
BSE Code : 532754 (140.70)
Buy Around 140 to 140.50
STERLING BIOTECH.....................
Buy Around 207 to 208
NILE
LTD..........................
Buy Around 154 to 155
Today's Pick - Monnet Ispat
We recommend a buy in Monnet Ispat from a short-term perspective. From the charts of the stock, we observe that it has been on a long-term up trend from its November 2006 low of Rs 143. Moreover, in the intermediate-term, the stock has been trending upward from its January 2008 low of Rs 360. Both long-term and intermediate-term up trend lines are intact. The daily and weekly momentum indicators are giving positive signals indicating that the stock is a good buy from a sho rt as well as a medium-term perspective. The volume has spurted higher over the past two trading sessions. The stock is presently trading well above the 50- and 200-day moving average. Considering the above facts, our near-term view on the stock is bullish and we expect it to rally to our price target of Rs 645 in the forthcoming trading sessions. Traders with short-term perspective can buy the stock while keeping the stop-loss at Rs 548
Tata Steel gets mineral concession approval Commodity Online
MUMBAI: The government has given mineral concession approval to Tata Steel for two large mines, one for iron ore in Jharkhand and the other for chromeore in Manipur.
As per the present rule, the company ought to apply directly to the Ministry for mining leases after completion of prospecting work and outlining estimated reserves. Mineral Ministry has given the Prospecting Licences for both the mines to Tata Steel.
The concession for Jharkhand mine was granted on April 16. It has total area of 1,808 hectare. The one for chromite in Manipur has a total area of 55.445 sq km. The concession was granted on April 24.
Key Results Today: Adlabs, Aegis Logistics, Anant Raj Industries, Banswara Syntex, Cinemax, HPCL, IPCA Labs, Lanco Infra, L&T, National Fertilizers, NTPC, Orchid Chem, Power Grid Corp and TN Newsprint.
FIIs were net sellers of Rs8.83bn (provisional) in the cash segment on Wednesday while local institutions were net buyers of Rs5.28bn. Foreign funds were net buyers of Rs15.01bn in the F&O segment yesterday.
IOC to ration supplies in order to cut revenue losses. (BL)
Tata Motors plans 3 types of rights issue having differential voting rights as part of its plan to raise Rs72bn for the Jaguar-Land Rover acquisition. (BL)
ITC raises the prices of 3 of its cigarette brands by 10%. (BS)
Sun Pharmaceuticals’ US$454mn proposal to acquire Israeli drug-maker Taro has been called off. (BL)
Ranbaxy gets mixed verdict on Pfizer’s Lipitor in Australia. (BL)
Tata Steel-Corus raised prices for structural sections by £90 per ton from its Europe operations. (BL)
Unitech is in final stages of negotiation with Lehman for a US$500mn PE investment in its two commercial projects in Mumbai. (BL)
ONGC may reimburse part of service tax to shipping companies. (BL)
Tata Power to invest Rs5bn for wind power expansion. (BL)
GMR to set up ONGC’s proposed refinery in Kakinada. (BL)
HPCL-Mittal energy JV has approached the Petroleum Ministry to seek tax incentives.
Infosys Technologies to implement Finacle Universal Banking Solutions at BVA. (BS)
RIL and HPCL bid for control of three state-run sugar factories in Bihar. (BS)
Orbit Corp to foray in beachfront projects through SPV. (BS)
Reliance Communication to start due diligence of MTN.(BS)
Parsvnath to buy 30% stake in Nano City. (BS)
Adani Energy has been slapped with legal proceedings claiming US$100mn in losses by Petronas for violating an agreement to buy and sell LNG. (Mint)
Baring Asia has picked up 12% stake in Sharekhan at Rs17bn. (BS)
Cipla has filed pre-grant oppositions for over 50 drugs. (ET)
Air India is expected to reduce basic fares from Kerala and Andhra Pradesh by up to 83% after the two states reduced sales tax on aviation turbine fuel to 4%. (ET)
BSNL will be exempted from taking part in the auction of spectrum for 3G mobile services. (ET)
BSNL has sought exemption from Trai from paying any entry fee or license fee for its upcoming WiMAX as it planned to provide these services largely to rural India. (ET)
Airbus maker EADS to shift some manufacturing to India. (BL)
Economic News
PMO asks RBI to relax restrictions on ECBs imposed last year. (FE)
The government decided to give fertiliser sector top priority in allocation of natural gas to be produced from the gas fields. (FE)
The RBI fixes the marked-to-market spread for valuation of oil bonds at 25 basis points over sovereign borrowings. (BL)
RBI raises the spread for interest cost on trade credit, easing norms for foreign currency loans. (BS)
DoT has summoned executives from RIM to demand an explanation over its recent communication to its customers that it would be unable to accommodate any request for a copy of a customer’s encryption. (ET)
DoT approved unlimited number of bandwidth resellers in the country. (BL)
Trai invites consultation process to create a revenue share for Value added service providers. (FE)
The Cabinet Committee on Economic Affairs to Bengal projects in today’s meeting. (FE)
The Department of Atomic Energy to commercialise all uranium mines discovered by Atomic Minerals Division. (BS)
Rs95bn Dharavi makeover project to be delayed by a few months. (BS)
Government tightens norms for import of cars and sports utility vehicles. (BS)
The Union Cabinet is expected to take up a bail out package for oil companies which could include price hike, duty reductions and additional bonds. (ET)
The Punjab government cleared six industrial and five agro-industrial projects to be set up at a total cost of Rs111.7bn. (ET)
Interest coverage ratio for India Inc has declined from 11.6 times in the quarter ended March 2007 to 10.4 times in the quarter ended March 2008. (ET)
Carbon credit prices have hit an all time high as expensive natural gas pushes European power plants to shift to cheaper but dirtier coal which raises the demand for pollution offsets.
The coming session is likely to witness a range of 4975 on advances and 4860 on declines. The 4890 level will be a bullish pivot, above which the markets may remain firm.
Today, Nifty has support at 4,831 and resistance at 5,016 and BSE Sensex has support at 16,217 and resistance at 16,939.
WELSPUN GUJARAT....................
Buy around 358 to 360
ACC LTD..........................
Buy Around 668 to 670
GMR INFRA......................
BSE Code : 532754 (140.70)
Buy Around 140 to 140.50
STERLING BIOTECH.....................
Buy Around 207 to 208
NILE
LTD..........................
Buy Around 154 to 155
Today's Pick - Monnet Ispat
We recommend a buy in Monnet Ispat from a short-term perspective. From the charts of the stock, we observe that it has been on a long-term up trend from its November 2006 low of Rs 143. Moreover, in the intermediate-term, the stock has been trending upward from its January 2008 low of Rs 360. Both long-term and intermediate-term up trend lines are intact. The daily and weekly momentum indicators are giving positive signals indicating that the stock is a good buy from a sho rt as well as a medium-term perspective. The volume has spurted higher over the past two trading sessions. The stock is presently trading well above the 50- and 200-day moving average. Considering the above facts, our near-term view on the stock is bullish and we expect it to rally to our price target of Rs 645 in the forthcoming trading sessions. Traders with short-term perspective can buy the stock while keeping the stop-loss at Rs 548
Tata Steel gets mineral concession approval Commodity Online
MUMBAI: The government has given mineral concession approval to Tata Steel for two large mines, one for iron ore in Jharkhand and the other for chromeore in Manipur.
As per the present rule, the company ought to apply directly to the Ministry for mining leases after completion of prospecting work and outlining estimated reserves. Mineral Ministry has given the Prospecting Licences for both the mines to Tata Steel.
The concession for Jharkhand mine was granted on April 16. It has total area of 1,808 hectare. The one for chromite in Manipur has a total area of 55.445 sq km. The concession was granted on April 24.
Key Results Today: Adlabs, Aegis Logistics, Anant Raj Industries, Banswara Syntex, Cinemax, HPCL, IPCA Labs, Lanco Infra, L&T, National Fertilizers, NTPC, Orchid Chem, Power Grid Corp and TN Newsprint.
FIIs were net sellers of Rs8.83bn (provisional) in the cash segment on Wednesday while local institutions were net buyers of Rs5.28bn. Foreign funds were net buyers of Rs15.01bn in the F&O segment yesterday.
IOC to ration supplies in order to cut revenue losses. (BL)
Tata Motors plans 3 types of rights issue having differential voting rights as part of its plan to raise Rs72bn for the Jaguar-Land Rover acquisition. (BL)
ITC raises the prices of 3 of its cigarette brands by 10%. (BS)
Sun Pharmaceuticals’ US$454mn proposal to acquire Israeli drug-maker Taro has been called off. (BL)
Ranbaxy gets mixed verdict on Pfizer’s Lipitor in Australia. (BL)
Tata Steel-Corus raised prices for structural sections by £90 per ton from its Europe operations. (BL)
Unitech is in final stages of negotiation with Lehman for a US$500mn PE investment in its two commercial projects in Mumbai. (BL)
ONGC may reimburse part of service tax to shipping companies. (BL)
Tata Power to invest Rs5bn for wind power expansion. (BL)
GMR to set up ONGC’s proposed refinery in Kakinada. (BL)
HPCL-Mittal energy JV has approached the Petroleum Ministry to seek tax incentives.
Infosys Technologies to implement Finacle Universal Banking Solutions at BVA. (BS)
RIL and HPCL bid for control of three state-run sugar factories in Bihar. (BS)
Orbit Corp to foray in beachfront projects through SPV. (BS)
Reliance Communication to start due diligence of MTN.(BS)
Parsvnath to buy 30% stake in Nano City. (BS)
Adani Energy has been slapped with legal proceedings claiming US$100mn in losses by Petronas for violating an agreement to buy and sell LNG. (Mint)
Baring Asia has picked up 12% stake in Sharekhan at Rs17bn. (BS)
Cipla has filed pre-grant oppositions for over 50 drugs. (ET)
Air India is expected to reduce basic fares from Kerala and Andhra Pradesh by up to 83% after the two states reduced sales tax on aviation turbine fuel to 4%. (ET)
BSNL will be exempted from taking part in the auction of spectrum for 3G mobile services. (ET)
BSNL has sought exemption from Trai from paying any entry fee or license fee for its upcoming WiMAX as it planned to provide these services largely to rural India. (ET)
Airbus maker EADS to shift some manufacturing to India. (BL)
Economic News
PMO asks RBI to relax restrictions on ECBs imposed last year. (FE)
The government decided to give fertiliser sector top priority in allocation of natural gas to be produced from the gas fields. (FE)
The RBI fixes the marked-to-market spread for valuation of oil bonds at 25 basis points over sovereign borrowings. (BL)
RBI raises the spread for interest cost on trade credit, easing norms for foreign currency loans. (BS)
DoT has summoned executives from RIM to demand an explanation over its recent communication to its customers that it would be unable to accommodate any request for a copy of a customer’s encryption. (ET)
DoT approved unlimited number of bandwidth resellers in the country. (BL)
Trai invites consultation process to create a revenue share for Value added service providers. (FE)
The Cabinet Committee on Economic Affairs to Bengal projects in today’s meeting. (FE)
The Department of Atomic Energy to commercialise all uranium mines discovered by Atomic Minerals Division. (BS)
Rs95bn Dharavi makeover project to be delayed by a few months. (BS)
Government tightens norms for import of cars and sports utility vehicles. (BS)
The Union Cabinet is expected to take up a bail out package for oil companies which could include price hike, duty reductions and additional bonds. (ET)
The Punjab government cleared six industrial and five agro-industrial projects to be set up at a total cost of Rs111.7bn. (ET)
Interest coverage ratio for India Inc has declined from 11.6 times in the quarter ended March 2007 to 10.4 times in the quarter ended March 2008. (ET)
Carbon credit prices have hit an all time high as expensive natural gas pushes European power plants to shift to cheaper but dirtier coal which raises the demand for pollution offsets.
Wednesday, May 28, 2008
Bulls or Bear Subscribe to know more
INDAG RUBBER....................
BSE Code : 509162 (89.30)
Buy around 92.50 to 94
AISHWARYA TELE
BSE Code : 532975 (108.75)
Totally, Manipulated Stock , But Can Give u Good Return in Today's Trade.
Buy Around 108 to 108.50
TULSI EXTRUSION.................
BSE Code : 532948 (64.45)
Buy Around 64 to 64.50
Target for clients only
NIFTY FUTURES (F & O):
Hurdle at 4862 level. If bulls can able to absorb selling at above this level then expect relief rally up to 4899-4901 zone.
Support at 4828 & 4832 levels. Break below this level can create some unwinding up to 4818 level.
Multiple Support Zones at 4780-4782 zone (or) at 4792-4794 zone and these zones should not be allowed to break at any cost.
On Positive Side, rally up to 4935-4937 zone can be used to sell. Stop Loss at 4947-4949 zone.
Bulls and bears are all out to try and checkmate each other. As expected, the bulls failed to sustain the buying momentum and the key indices tumbled from a day's high even as Asian markets closed mostly higher. A similar trading pattern may continue today and perhaps over the following two days.
Thursday's F&O expiry and the release of GDP and inflation data will determine the market's mood. On the global front, US stocks rose and Asian markets are mixed. Oil prices have softened a little and are hovering under $129 per barrel.
On the whole, the bulls still appear to be lacking in conviction in the wake of mounting worries over inflation and its impact on the economy (and even on politics). A weakening rupee coupled with the worsening fiscal situation are also worrisome.
FII inflows are yet to turn positive though domestic funds are providing some support. 'Stay cautious and sell into any rally' should be the ideal strategy. Having said that, select stock-centric buying can be done from a long-term perspective.
Lack of follow-up buying and continued sell-off by the FIIs contributed to the fall on Tuesday. The small-cap and mid-cap indices suffered even more. Market breadth too was highly negative. And, barring few defensive sectors like IT, FMCG and Pharma, other sectoral indices finished in the red. Banking was the biggest loser, followed by Real Estate and Oil & Gas shares.
Key Results Today: Adani Enterprise, Britannia, Emami, Godrej Industries, Harrison Malayalam, Hindustan Dorr Oliver, ICRA, IOC, IVR Prime, IVRCL Infra, JM Financial, M&M, Monsanto, Mundra Port, Pidilite, Tata Motors, Ucal Fuels and Visa Steel.
FIIs were net sellers of Rs4.97bn (provisional) in the cash segment on Tuesday while local institutions were net buyers of Rs5.3bn. Foreign funds were net buyers of Rs1.49bn in the F&O segment yesterday
Corporate News
RIL Australia, a subsidiary of Reliance Industries, pays US$3.45mn in cash to acquire 49% stake in 4 exploration licenses of Uranium Exploration Australia Ltd. (BL)
OVL, subsidiary of ONGC has established commerciality of its Iranian asset, which is estimated to have 22tcf (trillion cu ft) of gas. (ET)
BHEL and Italian company in race for a Rs13bn order for supplying boilers to Neyveli Lignite. (BL)
Tata Steel gets mineral concession approvals from ministry of mines for two large mines in Jharkhand and Manipur. (DNA)
Omaxe is planning to raise Rs15bn in FY09 for various projects; promoters may dilute 5-10% stake via QIP. (DNA)
EKC is planning to invest Rs1.75bn in expanding capacities across plants in US, Dubai, China and India. (DNA)
PNB is keen to take a 51% stake in the proposed JV for setting up a bank in Bhutan. (BL)
SRF to acquire Thailand based tyre cord company for Rs1bn. (DNA)
Gujarat NRE Coke to raise fresh equity to fund its operations and expansion plans in Australia. (DNA)
BK Modi promoter of Spice Tele may sell its stake to AT&T or Etisalat. (ET)
Repro India to invest US$50mn to buyout digital printing solution firms abroad. (DNA)
Tesco in talks with Wadias, Parsvnath and Kalpataru Properties to enter the Indian market. (ET)
IT Department issues notice to Sesa Goa seeking information on the Vedanta deal. (ET)
DE Shaw raises its stake in Orient Express Hotel by ~2% to 7.6%. (ET)
GVK group is looking for opportunities in overseas airport development projects. (ET)
Jindal Drilling Singapore JV may explore opportunities for raising funds and listing. (BS)
Maytas Infrastructure wins contract for washery reject coal based power project. (BS)
Kirloskar Brothers gets order worth ~Rs1bn form Nuclear Power Corporation. (BS)
Elecon Engineering may acquire a European company. (BS)
Godrej Appliances plans to foray into selling chillers, deep freezers and other cold storage appliances. (BS)
Educomp Solution forms a 50:50 JV with Raffles Education. (BS)
Economic News
Fertilizer Ministry expects fertilizer subsidy to double in FY09 to Rs950bn. (ET)
The Government is considering an option of including cess or surcharge on income tax and corporate tax to bailout oil marketing companies. (BL)
The Government has eased the ban on cement export by allowing shipment through ports in Gujarat. (DNA)
India’s crude oil import bill jumps over 40% to US$68bn in FY08. (ET)
Jet Airways, chairman Naresh Goyal expects aviation industry to incur losses in excess of US$2bn
BSE Code : 509162 (89.30)
Buy around 92.50 to 94
AISHWARYA TELE
BSE Code : 532975 (108.75)
Totally, Manipulated Stock , But Can Give u Good Return in Today's Trade.
Buy Around 108 to 108.50
TULSI EXTRUSION.................
BSE Code : 532948 (64.45)
Buy Around 64 to 64.50
Target for clients only
NIFTY FUTURES (F & O):
Hurdle at 4862 level. If bulls can able to absorb selling at above this level then expect relief rally up to 4899-4901 zone.
Support at 4828 & 4832 levels. Break below this level can create some unwinding up to 4818 level.
Multiple Support Zones at 4780-4782 zone (or) at 4792-4794 zone and these zones should not be allowed to break at any cost.
On Positive Side, rally up to 4935-4937 zone can be used to sell. Stop Loss at 4947-4949 zone.
Bulls and bears are all out to try and checkmate each other. As expected, the bulls failed to sustain the buying momentum and the key indices tumbled from a day's high even as Asian markets closed mostly higher. A similar trading pattern may continue today and perhaps over the following two days.
Thursday's F&O expiry and the release of GDP and inflation data will determine the market's mood. On the global front, US stocks rose and Asian markets are mixed. Oil prices have softened a little and are hovering under $129 per barrel.
On the whole, the bulls still appear to be lacking in conviction in the wake of mounting worries over inflation and its impact on the economy (and even on politics). A weakening rupee coupled with the worsening fiscal situation are also worrisome.
FII inflows are yet to turn positive though domestic funds are providing some support. 'Stay cautious and sell into any rally' should be the ideal strategy. Having said that, select stock-centric buying can be done from a long-term perspective.
Lack of follow-up buying and continued sell-off by the FIIs contributed to the fall on Tuesday. The small-cap and mid-cap indices suffered even more. Market breadth too was highly negative. And, barring few defensive sectors like IT, FMCG and Pharma, other sectoral indices finished in the red. Banking was the biggest loser, followed by Real Estate and Oil & Gas shares.
Key Results Today: Adani Enterprise, Britannia, Emami, Godrej Industries, Harrison Malayalam, Hindustan Dorr Oliver, ICRA, IOC, IVR Prime, IVRCL Infra, JM Financial, M&M, Monsanto, Mundra Port, Pidilite, Tata Motors, Ucal Fuels and Visa Steel.
FIIs were net sellers of Rs4.97bn (provisional) in the cash segment on Tuesday while local institutions were net buyers of Rs5.3bn. Foreign funds were net buyers of Rs1.49bn in the F&O segment yesterday
Corporate News
RIL Australia, a subsidiary of Reliance Industries, pays US$3.45mn in cash to acquire 49% stake in 4 exploration licenses of Uranium Exploration Australia Ltd. (BL)
OVL, subsidiary of ONGC has established commerciality of its Iranian asset, which is estimated to have 22tcf (trillion cu ft) of gas. (ET)
BHEL and Italian company in race for a Rs13bn order for supplying boilers to Neyveli Lignite. (BL)
Tata Steel gets mineral concession approvals from ministry of mines for two large mines in Jharkhand and Manipur. (DNA)
Omaxe is planning to raise Rs15bn in FY09 for various projects; promoters may dilute 5-10% stake via QIP. (DNA)
EKC is planning to invest Rs1.75bn in expanding capacities across plants in US, Dubai, China and India. (DNA)
PNB is keen to take a 51% stake in the proposed JV for setting up a bank in Bhutan. (BL)
SRF to acquire Thailand based tyre cord company for Rs1bn. (DNA)
Gujarat NRE Coke to raise fresh equity to fund its operations and expansion plans in Australia. (DNA)
BK Modi promoter of Spice Tele may sell its stake to AT&T or Etisalat. (ET)
Repro India to invest US$50mn to buyout digital printing solution firms abroad. (DNA)
Tesco in talks with Wadias, Parsvnath and Kalpataru Properties to enter the Indian market. (ET)
IT Department issues notice to Sesa Goa seeking information on the Vedanta deal. (ET)
DE Shaw raises its stake in Orient Express Hotel by ~2% to 7.6%. (ET)
GVK group is looking for opportunities in overseas airport development projects. (ET)
Jindal Drilling Singapore JV may explore opportunities for raising funds and listing. (BS)
Maytas Infrastructure wins contract for washery reject coal based power project. (BS)
Kirloskar Brothers gets order worth ~Rs1bn form Nuclear Power Corporation. (BS)
Elecon Engineering may acquire a European company. (BS)
Godrej Appliances plans to foray into selling chillers, deep freezers and other cold storage appliances. (BS)
Educomp Solution forms a 50:50 JV with Raffles Education. (BS)
Economic News
Fertilizer Ministry expects fertilizer subsidy to double in FY09 to Rs950bn. (ET)
The Government is considering an option of including cess or surcharge on income tax and corporate tax to bailout oil marketing companies. (BL)
The Government has eased the ban on cement export by allowing shipment through ports in Gujarat. (DNA)
India’s crude oil import bill jumps over 40% to US$68bn in FY08. (ET)
Jet Airways, chairman Naresh Goyal expects aviation industry to incur losses in excess of US$2bn
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