BLUECHIPS

View for the week (27/09/10 - 01/10/10)

2010-09-27T06:43:00.000+05:30

Nifty has made its 4^th consecutive Bullish candle in weekly charts continuing the trend of higher highs and higher lows. We are now witnessing short covering in under-performing stocks which have shown signs of reversal while other heavyweights consolidate after strong up moves. Nifty PCR is currently at 1.93 and P/E ratio is at 25.41. FII have been buying relentlessly and aggressively writing options. While DII have been selling to such an extent that this year they are Net Sellers to the tune of Rs 7236 crores. Indicating that the retail participant has been bearish through out the year and might enter now sitting on huge cash loads as those who fell they missed out, it also suggests that Govt DII have been accumulating funds for forthcoming FPO for PSU divestment at higher levels. For the week 5980 is an important level and it appears from option positions that the settlement might end near about 6000.

Support for the week comes in at 5770 / 5830 / 5925

Resistance for the week comes in at 6075 / 6130 / 6225

Stock Picks for the week.

RELIANCE CAPITAL (812)

In daily charts the stock has made a bullish candle and shown signs of reversal after a recent pullback. Derivative data also suggests short covering in the stock. Buy for a target of 825 with a stop loss of 800. The stock has potential to do a target of 850 in the short term.

UNITECH (85.55)

In daily charts it has made a bullish pattern. Derivative data suggests fresh long positions in the stock. Buy for a target of 90 with a stop loss of 82. In the short term the stock can target 95.

MCLEOD RUSSEL (234)

In daily charts it’s within a falling wedge. Derivative data suggests fresh long positions. Buy for a target of 243 with a stop loss of 228. Above 248 the stock can target 275.

NHPC (32.15)

In daily charts it appears to have completed its pullback after a recent breakout. The decline has come with lower volume suggesting more upside. Buy for a target of 33.50 with a stop loss of 31.40. In the short term the stock can target 35.

View for the week (20/09/10 - 24/09/10)

2010-09-20T07:28:00.000+05:30

Index has had a very strong week as it broke out above each and every strong weekly resistance. However, the breadth of the market turned negative with Advance Decline Ratio increasing in favour of Declines on daily basis. We have witnessed this week even the weakest of stocks reversing and trapping shorts, while mid caps have had a quiet week. Now almost every trader / investor who was bearish feels remorse that they are “missing the opportunity” to buy stocks. FII continue to buy in robust volume while DII remain sellers almost every session. With advance tax numbers giving out mixed signals, many stocks have already discounted results and are trading at very high levels. Nifty P/E is currently trading at 24. OI is at all time high in F&O while PCR is at 1.75 . Time will tell soon whether market is over-heated or over-bought. Nifty hourly charts indicate 5900 would be a double top only if nifty falls below 5814.Until then trade with strict stop losses stocks which are still rising.

Support for the week comes in at 5715 / 5545 / 5450

Resistance for the week comes in at 5980 / 6070 / 6240

Stock Picks for the week.

IFCI (61.05)

In daily charts it has given a breakout with volume and is trading above all its key moving averages. Derivative data suggests fresh long positions in it. Buy for a target of 64 with a stop loss of 59.40. The stock has potential to rise up to 75 in the medium term.

BALRAMPUR CHINNI (89.50)

In daily charts it is moving in a rising channel with high volume activity. Derivative data suggests short covering in it. Buy for a target of 95 with a stop loss of 86.

BHARTI SHIPYARD (220)

In daily charts after making a series of lower highs and lower lows the stocks has shown a reversal candlestick. Buy for a target of 235 with a stop loss of 213. Investors can accumulate for a target of 350.

NIRMA (213)

In daily charts after making a recent breakout with volume, the stock appears to have completed its pullback. Buy for a target of 225 with a stop loss 208. In the medium term the stock can target 275 its 52 weeks high

View for the week (13/09/10 - 17/09/10)

2010-09-13T07:46:00.000+05:30

Nifty has had a fantastic week, albeit a short one due extended weekend. Not only has it made a new 31 months high, it has aided in mid caps surging ahead with sharp short covering and v big bullish candles. Over the last few months we have had mid caps out-perform large caps and the trend continues. This week have Advance Tax numbers for 2nd Quarter & RBI Policy review so we can see volatility and sector churning among institutions. Nifty gets support at 5565 and as long as nifty trades above 5510 there is still potential for upside as resistance comes in at 5660 / 5700. Trade long in stocks which are showing momentum and avoid bottom picking among stocks which are near all time lows, let them first show some consolidation.
Support for the week comes in at 5530 / 5420 / 5365
Resistance for the week comes in at 5700/ 5755 / 5865

Stock Picks for the week.

IND HOTELS (106)

In daily charts its trading above all its key moving averages and should rise in its major impulse wave up. Buy for a target of 110 with a stop loss of 104. The stock has potential to rise up to 118 if it sustains above 110.

JUBILANT ORGANOSYS (362)

In daily charts it has given a breakout with volume and is now trading above all its key moving averages. Buy for a target of 385 with a stop loss of 348. The stock has potential to trade above 450 in the medium to long term.

BPCL (751)

After a strong rally from 500 to 800, the stock has been an under-performer last week. With crude oil price rising sharply, the stock appears weak and can see further selling. Short for a target of 730 with a stop loss of 764.

SESA GOA (313)

In daily charts it continues to be weak and trades below all its key moving averages. With iron ore prices expected to fall further this year, the stock can see further fall. Short for a target of 304 with a stop loss of 319.

View for the week (06/09/10 - 10/09/10)

2010-09-05T16:47:00.001+05:30

Nifty fell sharply on Monday & Tuesday to bounce back sharply and retrace 75% of its fall. The top formation were hanging man candle stick while the bounce has come from hammer candle stick. Indicating range bound markets. Derivative data suggest 5400 as very strong support, while resistance comes in at 5510/5530. For the week nifty may move within this narrow range. Sustaining below 5420 will trigger profit booking while sustaining above 5530 will lead to heavy short covering and a new high. Large cap banks and IT stocks look weak while mid caps are still showing signs of a rise. For the week, trade within the range and on breakouts with strict stop loss.

Support for the week comes in at 5380/5280/5215.

Resistance for the week comes in at 5545/ 5610 / 5710

Stock Picks for the week.

NHPC (31.10)

In daily charts after a pullback and consolidation the stock is showing signs of a rally. Buy for a target of 32.75 with a stop loss of 30.45.

SCI (165.30)

In daily charts its moving in a channel and is now trading above all its key moving averages. Buy for a target of 172 with a stop loss of 161.50

CNX IT (6076)

In daily charts after making a H&S bearish pattern it currently on a throwback. Sell for a target of 5750 with a stop loss of 6230.

ICICI BANK (1001)

In daily charts after completing its 1^st move down, it has done its throwback on market support and is now showing signs of weakness. Sell for a target of 970 with a stop loss of 1022.

View for the week (30/08/10 - 03/09/10)

2010-08-29T20:31:00.000+05:30

Nifty fell sharp last week and has broken its rising trend line in daily charts. For the 1^st time since May 2010 it has closed below its 34days ema. It now faces strong resistance at 5470 / 5520 levels where it might see selling pressure once again. On the downside, support comes in at 5380 / 5340. High Bank NPA, FinMin report about growth curb, US Visa and a strong Dollar are pulling markets down as we have seen CNX IT and BANK NIFTY falling in the last 2 trading sessions. Any rise from here will depend a lot on 2^ND Quarter Corp results of which Advance Tax noes will start coming out from Sept 15 onwards.
Support for the week comes in at 5190/5290/5350.
Resistance for the week comes in at 5510 / 5610 / 5665

Stock Picks for the week.

HDFC LTD (623)

In daily charts the stock is showing weakness after a recent spike, derivative data also suggest new short positions. Sell for a target of 612 with a stop loss of 631.

SAIL (185)

In daily charts its trading below all its key moving averages and has broken and closed below its sub minor bottom. Sell for a target of 176 with a stop loss of 192.

BEML (1004)

In daily charts the stock is trading in a sideways channel and near its key moving averages. Buy for a target of 1040 with a stop loss of 980

ACC (872)

In daily charts the stock is showing signs of an impulse wave rise after a small pull back. Buy for a target of 995 with a stop loss of 856

View for the week (23/08/10 - 27/08/10)

2010-08-22T15:53:00.000+05:30

At the moment, the P/E ratio of nifty is 23.24, the VIX is at an all time low of below 15 (a gauge which measures the confidence of the general public, the lower the VIX the higher the creed) and the OI is at an all time high similar to NOVEMBER 2008. Yet we have the indexes making new 52 week highs week on week with stocks/sectors showing support on regular intervals. What is evident is that a larger correction is on the cards, but when it will happen is every ones guess, it could probably start with a big gap down trapping many on its way down. As of now try to have more cash than stocks in hand, follow the trend and trade long only in rising trend line stocks and avoid catching a falling knife (stocks which are still falling). Caution for longs below 5440. Support for the week comes in at 5435/5340/5285. Resistance for the week comes in at 5585 / 5640 / 5735

FSL (26.55)

The stock is showing good signs of a fresh rally after a pullback and consolidation. It is trading near its key weighted moving average. Buy for a trading target of 28 with a stop loss of 25.75. Medium term investors can buy for a target of 33.

PUNJ LLOYD (115.95)

The stock appears to have made a short term double bottom and is now forming Hammer Candles which is a bullish signal. Buy for a target of 123 with a stop loss of 112.50

Sesa Goa (329.35)

The stock is trading below all its key moving averages and is seeing a lot of selling pressure on rise. Sell for a target of 313 with a stop loss of 339.

Aban Offshore (833.40)

The stock is trading below all its key moving averages. Derivative data suggest un-winding of lonk positions. Short for a target of 810 with a stop loss of 848.

EMCO

2010-06-29T08:50:00.000+05:30

EMCO (84.10)

http://www.emcoindia.com/home.html

The stock has given a break out with volumes. Buy for a 1st target of 88.50 and a 2nd target of 93 with a stop loss of 81.25. Long term investors can hold for a target of 110.

The company has concentrated in its Transformer Business (54% of its turnover) where it has seen revenue rise sharply while it has managed to curb its Meter Business where it has reduced its turnover to 4%. The balance 41% turnover comes from Turnkey Projects. As per data released by the company they have maintained healthy book orders for FY 2010-11.

Regards

TULIP TELECOM

2010-06-25T10:20:00.000+05:30

TULIP TELECOM (853)

http://www.tulip.net/

After a sharp spike in end MAY, the stock has retraced back to key levels and is seeing steady volumes here. Accumulate for a target of 1000 with a stop loss 825.

Regards

UNITED PHOSPHORUS

2010-06-24T10:32:00.001+05:30

UNITED PHOSPHORUS (193)

http://www.uplonline.com/

The stock has given a volume break out above 185 in weekly charts. Buy for a target of 235 with a stop loss of 175.

It is the leading global producer of corp protection products, speciality chemicals and industrial chemicals. Only Indian Co which has a presence in seeds for crop protection and post harvest with presence in 120 countries and revenue coming equally from all continents.

Regards

MRPL

2010-06-23T12:31:00.000+05:30

MRPL (70.90)

http://www.mrpl.co.in/

The stock has given a fresh break out with volumes.In the F&O segment the stock has been seeing short covering since the last 2 days.

The stock has given a buy signal for a target 77 in the short term with a stop loss of 67.

With the Govt planning to go ahead with decontrol of fuel prices the stock is also a very good fundamental investment and can target 110 in the medium to long term.

Regards

NEWS 09-06-2010

2010-06-09T08:52:00.000+05:30

UK needs more ambitious deficit-cutting plan - Fitch
"Both the size of the deficit currently projected for 2011 and the failure to reduce the deficit to 3 percent of GDP within five years are striking," Fitch said.

China Sovereign Fund Wants More to Invest After May, June Loss
China’s $300 billion sovereign wealth fund is asking the government for more funds after a 10 percent mark-to-market loss in May and June amid the European debt crisis, said Executive Vice President Jesse Wang.

India, China to lead Asian recovery: Moody's
The report underlined the need for Asia's policymakers for maintaining balance between inflation and growth.

Prolonged Euro crisis could impact capital flows: Mukherjee
The Finance Minister also highlighted the robust Indian banking sector which stayed immune inspite of deregulation and the global turmoil.

Govt approves 6 new SEZ proposals
The inter-ministerial board of approval, the nodal body for SEZ-related matters, also allowed developers to withdraw four of their SEZ proposals.

Anil Ambani withdraws defamation suit against Mukesh
The withdrawal of the suit comes weeks after the brothers decided to scrap a non-compete agreement between their group companies and pledged to expeditiously renegotiate a gas supply agreement on the lines of the Supreme Court verdict of May 7.

Tata Steel Arm Ups Stake In Canadian Mining Co To 27.4%
Tata Steel currently has a capacity to produce over 28 million tonnes of crude steel per annum. It currently has operations across 26 countries, and commercial presence in over 50 countries globally. The company posted a turnover of $22.8 billion in FY 2010.

Hindalco to spend Rs 10k cr in FY11; scouts for mines
Hindalco operates copper mines in Australia under its unit, Aditya Birla Minerals. The company currently requires about 4 lakh tonne of copper, for which it has about 1 lakh tonne of copper concentrate.

HCC in pact with Egypt's Orascom Construction

The two companies will also explore a scope of partnership with the intent of jointly creating a portfolio of infrastructure assets across different sectors in India, HCC said in statement.

Bharti buys Zain's Africa biz for $10.7 bn
The Zain acquisition, the second largest by an Indian entity after Tatas' Corus deal, would take the revenue of the combined entity to an estimated $13 billion.

NEWS 08-06-2010

2010-06-08T08:51:00.000+05:30

Investors Pick America Over BRICs in Global Bloomberg User Poll

The U.S. has supplanted China and Brazil as the most attractive market for investors as confidence in the global economic recovery wanes in the wake of the Greek debt crisis.

Ratings agencies concerned about Hungary

Moody's said comments made by officials in Hungary's new centre-right Fidesz government suggesting the country was close to a Greek-style economic meltdown were "inflammatory" and came at "a delicate time" for global markets.

The Beijing Blues

"In many ways the financial crisis and the discrediting of the American model has been bad for us. You see, we don't really have an ideology anymore. We don't know what we believe in. We used to think it was some version of the American Dream—liberalize, open up, grow. But then you had your crisis. We can say, it proves we're strong. But where do we go now?"

Brainard Warns Asia Against Resuming Reliance on U.S. Demand
The U.S. Treasury’s top international official warned Asian nations against resuming reliance on exports to America as a main source of economic growth, singling out China and urging a more flexible yuan.

IMF urges tough action on Europe's debt crisis
"Crisis management is not an alternative to the corrective policy actions and fundamental reforms needed to reinforce the foundation of the European Monetary Union (EMU)."

Elliott Wave Intl. President says gold could fall 40%
"In terms of timing, the time to get excited about gold was back in 2001 when no one wanted it, and now everyone seems to want it, so I don't."

BP Spending Picks Up on Spill as Capture Rate Rises
About 40 billion pounds ($58 billion) has been wiped off the value of BP since the accident. The spill may cost the company as much as $37 billion in cleanup and litigation costs, Credit Suisse estimated on June 2.

India’s Rupee Slides on Speculation Fund Outflows to Accelerate

India’s rupee slid the most in a week on speculation fund outflows from local stocks will accelerate as investors shun emerging-market assets amid concern the global economic recovery may stall.

India must hike rates: World Bank
South Asian economies, including India and Pakistan, need to raise borrowing costs to contain inflation and cut budget deficits to endure future shocks to growth, the World Bank said.

New listing norms may find few investors
"With incremental flows strongly dependent on the global macro (situation), there could be few takers for the additional capital of Rs 58,500 crore ($12.5 billion) on offer this fiscal...,"

Govt to pump money into 7 banks

The exact amount, the mode of capitalisation and other terms would be decided in consultation with the banks at the time of infusion. The Rs 15,000-crore fund infusion in tier I capital instruments of PSBs would enable them to expand their credit growth by about Rs 1,85,000 crore. This additional credit availability is likely to benefit employment-oriented sectors, especially agriculture, micro and small enterprises and entrepreneurs.

Oil Trades Near Lowest in Week on Concern Debt Will Hurt Demand
Crude oil traded near its lowest level in more than a week in New York amid concern the government debt crisis in Europe will spread and curtail the recovery in global fuel demand.

No hike in petrol, diesel prices for now
It was noted at the meeting that under-recoveries of oil marketing companies on account of current price structure and burden faced the government by way of compensating the companies during the period 2003-04 to 2009-10 was in excess of Rs 3.45 lakh crore. The possible inflationary impact of rise in the prices of petroleum products was also discussed.

Reliance Plans On Entering Nuclear Energy
Reliance industries’ which is promoted by Mukesh Ambani might enter into nuclear energy after being untied from an agreement with ADAG (Anil Dhirubani Ambani group). This group reportedly barred it from certain business like power.

GAIL to start work on Dabhol-Bidadi project
"We have opened a office in Bangalore and have recruited a team of 60 officials to start work on the project. The work will simultaneously commence at 10 locations along the proposed route for the gas pipeline. We are very confident that the project will be completed by March 2012 and the gas available for end-users,"

Govt plans windfall tax on miners
On the heels of Australia announcing 40% tax on bumper profits of miners, the mines ministry is proposing a similar windfall tax on iron ore.

India eyeing coal assets in Australia
"For one million tonnes of coal, an investment of $100-200 million is required." NTPC, which has cash reserves of Rs 18,000 crore (Rs 180 billion), has earmarked a capital expenditure of Rs 29,000 crore (Rs 290 billion) for the current fiscal.

RCom, AT&T in informal merger talks
The Wall Street report cited a person privy to the development saying that RCom was in stake sale talks with Abu Dhabi-based Emirates Telecommunications Corp (Etisalat) for about two months, but is now courting other foreign telecom firms including AT&T.

Drug firms on outsourcing high
According to data put together by Business Standard, the country's top 30 drug makers are investing over Rs 5,500 crore (Rs 55 billion) in expanding capacity, partly to meet outsourcing calls, while the next rung of companies have lined up investments of around Rs 5,000 crore (Rs 50 billion).

The Costliest Pharma Deal of all times.
Piramal Healthcare sells off-patent and inexpensive drugs also known as generics. This makes the 3.7 billion dollar offer from Abbott one of the most expensive ever, one reason why the meager 4 hours spent by Piramal on creating the 3 page note with the help of his daughter, so surprising.

DOW JONES

2010-05-28T13:14:00.001+05:30

Dow Jones (10258)

DJIA is showing a possible H&S Bearish pattern where a sell off can come near 10700 approx 1120 for S&P. If this pattern holds true then the target for DJIA is 8200 and 850 for S&P.

Since we tend to move according to global markets trends the area of 5100 might act as a tough resistance. Also the above pattern suggests a very big downside which may trigger another 10% fall in our markets. Hence this rally should be used to exit from long positions specially those with leveraged/funding long positions.

Also FII figures in NSE/BSE Cash segment show that they have been selling even in the bounce from 4800. Domestic Institutions buying is mainly due to pressure to hold PSU stocks inline for divestment, while retail and HNI get trapped in bulk by averaging there long positions at every fall.

Fundamental triggers like Delayed monsoon in INDIA, Strengthening US Dollar, Fear of stagflation across EUROPE (similar to what JAPAN is witnessing for the last 20 years) and Pressure on CHINA to reduce control on YUAN and Declining COMMODITY prices are key reasons why we can witness further correction in global markets.

Nifty stocks 200 days EMA

2010-05-25T08:54:00.000+05:30

Nifty is now trading below its 200days EMA. In the past we have seen whenever a stock trades below its significant moving average it tends to correct heavily and for a longer duration of time. Recent examples are BHARTI AIRTEL, DLF, IDEA, STERLITE, SUZLON & UNITECH. Now NIFTY, RELIANCE and several other stocks have started trading below key moving averages. One should be very careful with long positions cause if any hopes of recovery fail then markets can correct both in terms of price and time.
Regards

NEWS 17-05-2010

2010-05-17T08:29:00.000+05:30

The Real European Stalemate
To solve Greek-style crises, Europe needs more power over national governments. To keep the euro zone afloat, Germany has to put off the tax cuts German voters clearly want. To get EU growth going, Germany cannot do all the exporting.

Ignoring The Elephant In the Euro
What makes Greek problems so intractable is the fact that there’s little hope for growth for years to come, because Greek costs and prices are out of line and will need years of painful deflation to get back in line.

Greece says to probe U.S. banks role in debt crisis
Greece may investigate U.S. investment banks and their role in the run-up to the Greek debt crisis which has shaken faith in euro zone economies

EU prepares to vote on new hedge fund rules

Critics of the proposed changes say that, if approved, the laws would see many funds flee London to Switzerland or elsewhere outside the EU.

$1 trillion rescue package only buys time: ECB

In the past few days, Merkel has repeatedly urged euro-zone countries to trim their budget deficits. She also called for greater cooperation in financial and economic policy across Europe to ensure the currency's long-term stability.

When Dollar Rises and Euro Falls, U.S. Stocks Will Take a Hit
While a strong dollar lowers U.S. interest rates and sends down the price of dollar-denominated commodities such as oil, it also makes it harder for big U.S. exporters to sell their goods overseas.

China revaluation would hurt US: World Bank
Economists have warned for years that China's large reserves, currently more than $2 trillion, and large deficits in countries such as the United States posed a threat to global economic stability.

Forex reserves drop by $3.4 billion
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies, such as euro, sterling and yen, held in the reserves, the RBI said.

Government, companies eye Rs 1.2 lakh cr from share sale: I-Sec
Share sale targets for the current financial year include IndianOil, MMTC, Coal India, SAIL, RINL, Shipping Corporation, Engineers India, Hindustan Copper, PowerGrid, Manganese Ore India and MMTC.

Shocker! Govt may cut income tax relief
This is to make up for the possible concessions the ministry may extend in other areas like exempting long-term savings from tax at the time of withdrawal and the way Minimum Alternate Tax is calculated, sources said

SBI net profit drops 21 per cent
Baring agriculture, the amount of NPA will keep going down, but the provisioning requirement may remain the same over the next few quarters,

Gas to Anil firm if available: FM
Mukherjee said the EGoM had fixed price for five years and decided on users for all the gas for this period. After this period and upon increase in availability, a new gas price may emerge.

Crude price could touch 3-digits in near future: Mukesh Ambani
"Crude oil prices are well above the $70 mark. We foresee an increase in crude price to three digits in the near future,"

Reliance and Russia's Sibur in rubber venture
The energy giant Reliance Industries Ltd and Russian petrochemical firm Sibur have agreed to set up a joint venture to make butyl rubber in India amid rising demand from the auto industry, the firms said on Sunday.

5 Indian oil cos may face US sanctions
The US administration has named India's oil and gas flagship ONGC and Indian Oil Corp among the 41 firms worldwide having energy ties with Iran, an act for which it may impose sanctions on them.

RComm Q4 net drops 20%
However, on a sequential basis, the company showed an improvement of 10% compared with a profit of Rs 1,108 crore in December 2009 quarter.

New urea policy will allay industry fears on gas price: Jena
Industry sources said at least half-a-dozen fertiliser firms have proposed to undertake expansion but expressed concern regarding pricing and firm availability of gas before taking final investment decision. There are 28 urea units currently operating with an installed capacity of 20 million tonne per annum.

Fertiliser imports in place before rains
India is the deciding factor and will decide the price movement, he added. Awasthi, who has been heading the company since 1993, said with overseas supplies assured, there was no scarcity of fertilisers in the country.

Indian pharma’s emerging foray
These markets are expected to grow at a pace of 14-17% through 2014, while major developed markets will grow at 3-6%, reports IMS Health. Importantly, they are expected to represent 12% of the global pharmaceutical market by 2011

DLF Q4 net surges, sees more growth
With the Indian economy projected to grow at a higher pace, we expect the real estate sector to further strengthen which will inturn strengthen DLF's growth across all segments.

DLF plans to sell non-core assets to reduce debt
Mr Chawala said the current debt equity ratio stands at 0.53:1, which will increase to about 0.75:1 in this quarter

NEWS 14-05-2010

2010-05-14T08:11:00.000+05:30

NY attorney general launches probe against eight banks
The report said that while those investigations focused on interactions between the banks and clients who bought mortgage securities, this one expands the scope of scrutiny to the interplay between banks and the agencies that rate their securities.

Bank Of England Chief: The US Faces The Same Issues As Greece, And Europe Has Only Kicked The Can Down The Road

one of the concerns in financial markets is clearly – how will this enormous stock of public debt be reduced over the next few years? And it’s very important that governments, both here and elsewhere, get to grips with this problem, have a clear approach and a very clear and credible approach to reducing the size of those deficits over

Bailout bad for euro: Jim Rogers
“This means that they’ve given up on the euro, they don’t particularly care if they have a sound currency, you have all these countries spending money they don’t have and it’s now going to continue.”

India can gain from the crisis
We have seen in the Western world private and consumer debt shifting to banking sector, banking debt shifting to the government's balance sheet and, now, a weak government's debt shifting to a stronger government's balance sheet. This is the last frontier. If it fails, high inflation, social chaos and protectionism will hound the world.

Greek crisis not to change RBI's exit roadmap: Gokarn
The Reserve Bank of India [ Get Quote ] on Thursday said the Greek debt crisis would not change its roadmap to exit from the accommodative stance, as the central bank has already factored in the impact of global uncertainties in its exit-policy.

Don't compare India & China: FM
Coming to the impact of the volatility of capital flow, no doubt, India would emerge as an important destination for investment. Therefore, we shall have to watch the situation very carefully

What A Rising Yuan Means For You

Although potential inflation may result, many argue that an increase in the price levels of Chinese supplies will allow United States manufacturing to gain global market share.

Govt lays ground for $11 bn push to infrastructure
“There is always a shortage of long-term finance in infrastructure projects. The objective is to meet this demand. It’s too early to comment on the constitution of the committee or its functioning,” he added.

The gas in the Reliance case
The government cannot exercise the sovereign right twice over, once in determining the price, in which it will get its share, and again in fixing the price at which the company can sell its share to a party of its choice and at a price of its choice.

MRPL: Refinery expansion to boost margin

As part of this expansion, the company is also setting up a 450,000 TPA polypropylene unit at a capital cost of Rs 1800 crore. The company has received Rs 5,000 crore of loan from ONGC and Rs 200 crore from Oil Industry Development Board at discounted interest rate.

Gujarat NRE sees FY11 revenue at 20 bln rupees
Meanwhile, the Kolkata-based company is planning to set up a new coke manufacturing facility in Andhra Pradesh with an estimated investment of 8-10 billion rupees, Jagatramka said.

Tata Steel’s Canada, Mozambique buys to buoy Europe ops
Tata Steel’s European operations, which, at present, lack enough captive raw material resources, are likely to be benefitted from the company’s acquisition of iron ore and coal mines in Canada and Mozambique from next year onwards.

Bill on mining regulator this session
“The government feels that the mining sector—which has been opened up to private participation in the past—needs a regulator,” said a source.

Govt may provide duty sops to domestic power equipment cos
The problem of domestic manufacturers, including BHEL and Larsen and Toubro, is accentuated by 14 per cent cost advantage due to nil duty imports.

REC to borrow Rs 21,000 cr in FY'11
The company borrowed Rs 24,000 crore in the previous financial year (2009-10), even as it disbursed loans of about Rs 18,500 crore during the same period.

Thermax sees good FY11 despite margin pressure
"Raw material prices have gone up, covered for most of the important material in terms of forward booking, but structural steel is not forwardly booked...I am expecting one or two more increases there," Managing Director M.S. Unnikrishnan told Reuters.

HCC hives off IT division into new unit
Hindustan Construction Co has hived off its IT division into a separate firm, Highbar Technologies, to provide services to clients in the infrastructure sector, a top official said on Thursday.

Mahindra Satyam reeling under severe attrition
Another major reason is that after Raju's softer reign, many Satyamites are finding it difficult to work with the "conservative and frugal" approach of the Mahindra Satyam top brass.

Parts crunch bump on auto growth
Chairman of the country’s largest carmaker Maruti Suzuki India, RC Bhargava, said that the shortage is a concern but constant engagement with vendors was keeping the company well stocked. “Whether the shortage in components is a key issue for carmakers, I would say it is only partly true. The situation is showing signs...

3G bid: Govt set to earn over Rs 60,000 crore
After the auction for 3G is closed, the government would start the auction for BWA for which as many as 11 operators are in the fray. The reserve price for BWA spectrum has been fixed at Rs 1,750 crore (Rs 17.50 billion) and only two slot of 20 MHz each are on the block.

Great Eastern Shipping unit plans $80-$100 mln IPO
The offshore services provider operates 14 support vessels and two rigs, used for exploration and production of oil and gas. It has placed orders for seven vessels, which are scheduled to be delivered in 2011 and 2012

NEWS 10-05-2010

2010-05-08T06:00:00.060+05:30

IMF approves 30 billion euro loan for Greece
The Greek bailout package is the biggest in history and comes with stringent conditions that include a combination of spending cuts and revenue increases.

The End of the Euro
A single monetary policy would likely amplify, rather than diminish, the fundamental differentials between highly productive Germany and the less efficient periphery.

Germany,France want more supervision to prevent another crisis

They called upon their euro zone partners to consider reinforcing fiscal surveillance within the euro area, including a provision for more effective sanctions against those members who repeatedly violate the group's stability criteria.

Euro crisis may trip fundraising plans
"Conditions are not stable. Valuations are not forthcoming. Institutional investors are driving a hard bargain. The euro crisis makes the job difficult. It will impact world markets, including India."

Obama: Strong U.S. economy will lead to strong dollar
"My basic principle is to focus on the fundamentals of the economy. I think that if we have a strong U.S. economy we're going to have a strong dollar,"

Has Gold become a new reserve currency?
The price of gold rose to $1,210 an ounce on Friday. The terms "flight to quality" and "safe haven" are increasingly being used for the precious metal as investors flee all of the major global paper currencies.

New inflation basket to have 676 items
"The existing series has some obsolete items. They will not figure in the new series," the official added.

The next decade belongs to India: Deepak Parekh
"I am not saying that everything is gung-ho and there are no problems. We have enough problems which we need to tackle, but we are the second fastest growing nation for the last so many years."

Ambani gas war: Blow to Anil, order favours Mukesh
"The Supreme Court verdict upholds the fact that gas belongs to the government and the people. No matter what campaign one ran against the government, the nation is supreme."

Govt may tweak gas policy to power Anil's Dadri plant
Reliance Power’s proposed 7,480 mw Dadri project is the single-largest gas-based power plant at a single location in the world.

Reliance producing 60-63 mmscmd gas from KG Basin
Reliance Industries is currently producing 60-63 million metric standard cubic metres a day (mmscmd) of natural gas from its field in the Krishna-Godavari basin

K-G gas fully sold for five years
There is an unallocated quota of 10 mscmd gas which is meant for use by captive power plants if the production goes up. RIL’s gas production is not expected to exceed 80 mscmd till eight years.

Maruti asks component suppliers to reduce costs
But, if we don’t go for a reduction and raw material prices go up and the foreign exchange regime is not in our favour, the total impact would mean the cost of the car would go up and so could prices.”

S&P rating on Infosys to 'BBB+'; outlook stable
"We expect Infosys to register a 15% revenue growth, with revenue of more than USD 5.5 billion in the fiscal year ending March 31, 2011, as the global economy improves and companies globally further outsource IT functions," said Standard & Poor's credit analyst Suzanne Smith. In addition, we expect growth to continue to be 10%-15% in the next four to five years.

Fertiliser cos in JV talks with global firms
Several Indian fertiliser companies are in talks with foreign firms to set up production units jointly, the government said.

Cipla To Buy 2 Facilities For Rs 82Cr
The formulations manufacturing facility at Sikkim, with capabilities in tablets, capsules, oral liquids, injections, liquid and ointments/creams, will be bought for Rs 51.38 crore. The facility is eligible for a 10-year tax holiday under the Income Tax Act, 1961 commencing from 2009-10.

NEWS 06-05-2010

2010-05-06T07:50:00.000+05:30

Can the Euro be Saved?
The Greek financial crisis has put the very survival of the euro at stake. At the euro’s creation, many worried about its long-run viability. When everything went well, these worries were forgotten.

'More turmoil ahead in global financial markets'
Eventually the euro, unfortunately, is going to break up because it keeps weakening itself from within. If they would let Greece go bankrupt, for instance, it would strengthen the euro, it would strengthen the Eurozone because then people would know you have to maintain a sound economy.

India: External deficit widens but the rupee appreciates sharply!

Normally, when a country runs a moderately high current account deficit and relatively rapid inflation is weakening its competitiveness, one expects to see a depreciation of its currency to bring about an adjustment in imbalances

India Stocks Face Greater Inflation Risk Than China, HSBC Says

India will increase interest rates by 150 basis points in the next 12 months to contain rising prices fueled by accelerating economic growth, HSBC forecasts

Cost rises impact cement firms in March quarter

The cost of power and fuel was lower by over three per cent on account of stock adjustment. Imported coal cost rose to $110 a tonne from $90 a tonne in the third quarter.

Now, Irda focuses on policyholder protection
The regulator has identified 22 major and 150 minor complaints for which it proposes to strengthen the redressal mechanism, an Irda official said.

Banks may get more teeth as govt speeds up loan recovery
Rating agency CRISIL expects gross NPAs of Indian banking system to swell to around 5% of the advances in March 2011. Currently, banks need permission of the relevant Chief Metropolitan Magistrate or the district magistrate for seizing an asset. The new rule will require the district administration to carry out due diligence and take a decision within 120 days of the request.

VC, PE firms lining up for mass exit
India has never seen more than 20 VC exits in a year. But in the first three months of 2010 alone, there have been 10 VC exits against three last year, according to research firm Venture Intelligence.

Govt to divest stake in 10 more PSUs
As per criteria, 60 state-run companies are eligible for disinvestment. Last fiscal, the government had raised Rs 25,000 crore through stake sale in PSUs like Oil India, NMDC, REC and NTPC.

Govt to give Rs 14,000 cr more to oil PSUs

Of this, the finance ministry had previously released Rs 12,000 crore (Rs 120 billion) in cash and today they agreed to give an additional Rs 14,000 crore.

RIL, RNRL gas dispute all set for court finale

If the three-judge panel, which reserved judgment in the lawsuit after arguments concluded on December 18, upholds the Bombay high court verdict, RIL will have to supply gas to RNRL's proposed Dadri power plant at $2.34 per mmBtu - 44 per cent lower than the government set price.

Govt to add 74K MW power capacity in XIth Plan
"With best efforts, we would add about 12,000-13,000 MW power generation capacity over the likely addition of 62,000 MW in the current five-year plan. This would be at 74,000 MW near to the original target of electricity generation capacity of 78,577 MW,"

Wind energy sector targets 5k MW capacity by 2015
He said the cost of production of a MW power would be Rs 5 to 6.5 crore which is much cheaper than the solar energy.

3i Infotech to shift focus on IT Solutions.
“We will focus on IT solutions and transaction services business as we see pick up in demand in these areas, though, we are not doing away with products.”

Are telcos paying too much for 3G spectrum?
The valuation metric used globally for the evaluation of 3G auctions is dollar per MHz of spectrum per population covered. This metric reached as high as $4/MHz/pop for auctions in the UK, which left the participating carriers nearly bankrupt.

NEWS 03-05-2010

2010-05-03T08:53:00.000+05:30

HIGHLIGHTS - Greek PM says reached deal with EU, IMF
Greece has reached a multi-billion euro deal with the EU and the IMF, Prime Minister George Papandreou said on Sunday.

Buffett worried on inflation, Greek 'high drama'
Unlike other prominent investors like hedge fund manager George Soros, Buffett has steered clear of large currency bets in recent years, and has said that while he looks worldwide for investments, he would be happy making investment bets mainly in the United States.

Buffett defends Goldman investment, CEO Blankfein

"I don't care if John Paulson is shorting these bonds," he said. Referring to Federal Reserve Chairman Ben Bernanke, he added: "If they told me Ben Bernanke was on the other side of this trade, it wouldn't make a difference to me."

Warren Buffett puts India on his radar, to visit in March
Buffett did not rule out India as a possible destination for Berkshire investments. Further, Buffett was quoted as saying that his company had looked at Indian insurance business. Berkshire's main businesses are in insurance and reinsurance areas.

The New Silk Road
The planned rail deals will vastly improve China's ability to transport crucial energy resources from suppliers in developing countries. "If the system is completed, it'll be more convenient for us to tap into natural resources, especially oil and gas, in Myanmar, Iran, and Russia," says Wang Mengshu, a Jiaotong University professor and consultant to China's high-speed-rail projects.

FII inflows highest ever, but Greece casts shadow
The money that FIIs have pumped in beats the previous record of $4.21 billion that came in during January-April in 2004, when the markets were in the middle of a bull rally, according to data released by the markets regulator, the Securities and Exchange Board of India (Sebi). This doesn’t include the numbers for 30 April, which will come out on Monday.

SEBI brings parity between investors
Retail and institutional investors will be treated alike in terms of bidding for shares in public offers from tomorrow, a move also likely to bring down the exorbitant levels of over subscriptions in the primary market.

Market eyes SC verdict on RIL-RNRL gas row
A sharp move, either ways, in shares of Reliance Industries , which have the highest weightage on the Sensex at 12.78%, has a corresponding impact on the indices because of its large weightage

Reliance plans to sell gas in U.S. market - report
The gas retail market in the United States is dominated by global majors such as Exxon Mobil and BP who have spent decades building a network and pipelines, the paper said.

ICICI Bank, HDFC Bank not Indian-owned: Govt
Earlier reports had said that the Reserve Bank of India [ Get Quote ] may come to the rescue of banks, such as ICICI and HDFC Bank, which are majority owned by foreign funds or entities.

Govt eyes Rs 18,000 cr from SAIL stake sale
At present the Centre holds about 85 per cent stake in the Navratna steel major. The Centre is likely to go ahead with divestment in 12-15 public sector units, including SAIL, Coal India, Hindustan Copper [ Get Quote ], SJVNL and EIL among others in the current fiscal to raise about Rs 40,000 crore (Rs 400 bilion).

ArcelorMittal exploring tie-up with SAIL
Steel Minister Virbhadra Singh had earlier this year said that Sail is open to joining hands with a global steel firm to set up a steel project to meet the country's rising steel demand.

Sugar prices are falling: Agriculture Minister
The country’s second-biggest producer by capacity, Balrampur Chini Mills Ltd has said that the Indian government is expected to remove the restrictions on the sale of sugar.

Bharati Shipyard open to acquiring more Great Offshore shares

"We will look for the right opportunity to acquire more shares of GOL. However, our Board (Bharati Shipyard) has not taken any decision yet," Bharati Shipyard's Managing Director, P C Kapoor, told reporters here today.

Nano proving an expensive dream for Tata
When Tata had conceived Nano [ Images ], the "people's car" in 2003, hot-rolled steel, a benchmark product used in making car body panels, was priced at $399 a tonne. Seven years and 30,000 Nanos later, the price of hot-rolled steel has almost doubled, and is still surging.

NTT close to buying out Patni promoters
Patni's current market capitalisation stands at close to Rs 6,950 crore, and the promoters' combined stake at today's rates would fetch around Rs 3,230 crore.

MindTree pips Accenture, IBM to bag first UID project
The ADM multi-billion-rupee project involves the complete application lifecycle -- from designing, developing, testing, maintaining and supporting the UID application to providing help desk services from the UIDAI's (Unique Identification Authority of India [ Images ]) Bangalore Technology Centre.

Industry hails tax concession on construction
"Exemption of service tax on low-cost housing is a positive step towards improving urban infrastructure and fulfilling housing requirement in urban areas," said Navin M Raheja, managing director.

Massive drop in bank lending to real estate sector
The RBI, in its third quarter review of macro economic and monetary development, had highlighted that there has been a definitional change to the concept of lending to commercial real estate sector

NEWS 30-04-2010

2010-04-30T07:36:00.000+05:30

Warren Buffett at a glance
Berkshire's market value is roughly $189 billion, Reuters data show. Berkshire owns roughly 80 companies, including railroad company Burlington Northern

A Catastrophe Delayed
The weak economies want low interest rates, and wouldn’t mind a bit of inflation; but Germany is dead set on maintaining price stability at all cost.

Greece crisis: Is there an exit?
The only way to reduce those shortfalls is a severe programme of fiscal austerity. But since the spending cuts already announced have provoked widespread strikes and protests, the government in Athens may not have the stomach for further tightening.

Rising debt leads to inflation: Roubini
If the issue isn't addressed, nations will either fail to meet obligations or experience higher inflation as officials "monetize" their debts, or print money to tackle the shortfalls.

Rating agencies: Who made them so powerful?
By now I would hazard that a few of you will be shouting at the screen that these are surely the same rating agencies which gave AAA ratings to many tens of billions of dollars of tranches of collateralised debt obligations and issues of residential mortgage backed securities that turned out to be a very bad joke.

India faces lengthy path to cutting deficit: S&P
“It will take several years even if they follow the 13th Finance Commission’s recommendations to go back to the 5.4% levels recorded in 2006-07,” he said.

India to produce more MNCs than any other country: PwC
“It is encouraging to know that India will replace China as the largest source of new multinationals in the emerging world from 2018 onwards. The key drivers for this are the relative increase in both investment intensity and openness that the Indian economy offers.”

India Food Inflation Slows; Rains Seen Cooling Prices

“Indications of softening of food inflation are clearly visible,” Mukherjee said in Parliament yesterday. “The outlook is further brightened by the fact that a normal monsoon is predicted this year.”

India's Urban Awakening
India's cities could face a shortage of 38 million affordable homes for low income citizens, leave 70% to 80% of sewage untreated, and face a 6,000 kilometer gap in rail-based mass transit.

Ulip war in law ministry as Sebi, Irda fail to agree
With fading hopes of the regulators jointly moving the “appropriate court” — as suggested by finance minister Pranab Mukherjee — North Block on Thursday referred the issue to the law ministry for advice.

Iron ore prices may not react to India tax hike

The move is designed to make more of the steel-making raw material available for domestic steel makers, currently facing shortage in ore supplies and firm prices as a result.

Tata, Actis to bid for $2 bln road projects
TRIL Roads Pvt Ltd, a unit of unlisted Tata Realty & Infrastructure, will invest $122.5 million and Actis will contribute $77.5 million for the roads and highway projects, the two companies said in a joint statement.

Patni Computer evaluating 2-3 cos for buys - CFO

Patni has almost $500 million in cash, which would be used to fund any buys, Singh said after the firm posted a estimate beating net profit of 1.57 billion rupees, more than double from a year earlier, aided by forex gains and cost controls.

Maruti has domestic supply shortage ahead
“For us, the most critical year is 2011-12. If the market grows by 10-12 per cent this year, then we have to grow as well. The growth projection is the same for next year, too,” said Nakanishi.

Balrampur Chini 2009/10 output up 10 pct - official
"Margins will definitely be under pressure. Cost of production is very high, sugar price is very volatile," he said.

NTPC-BHEL JV expects orders worth Rs 7k cr
he company plans to achieve a turnover of Rs 10,000 crore by the year 2014-15 with an estimated profit of Rs 630 crore, it said.

Orchid Chemicals Resolves Lawsuit against Forest Labs over Alzheimer's Drug

The Indian generic drug manufacturer said in a statement that Orchid will be able to begin retailing memantine pills, the general form of Namenda in January 2015, or prior in certain conditions.

Realty players want prices to fall!
The last six months have seen a steady increase in both demand and prices of new homes... and prices are not coming down in a hurry!

NEWS 29-04-2010

2010-04-29T08:07:00.000+05:30

Fed's economic view brightens, rates to stay low

Against the backdrop of rising financial turmoil in Europe, the U.S. central bank held benchmark borrowing costs in a zero to 0.25 percent range but said consumer and business spending were picking up steam.

S&P Cuts Spain's Rating One Notch on Economic View

The outlook is negative, reflecting the possibility of another downgrade if Spain's fiscal position worsens more than S&P currently expects, the agency said in a statement.

Monsoon may start 7-10 days early - expert

If rains begin before the usual date, it helps early sowing and harvesting of crops such as rice, soybean, and corn and shields them from any dry spell towards the end of the season

Sebi drops legal option on Ulips
Sebi has decided against filing a joint application before a court to resolve its dispute with the Insurance Regulatory and Development Authority over unit-linked insurance plans.

Insurers must reveal ULIP commission: IRDA
Mutual funds have been complaining that the hefty cut paid to agents as commission on Ulips has led to agents pushing only unit-linked plans.

IFCI to invest Rs 1k cr in Bangalore project
IFCI’s facility would come up on 50 acres of the total 150-acre district, where more than a dozen banks, including global ones, have evinced interest to set up operations, besides insurance firms, financial institutions and stock market operators, he told reporters in Bangalore.

After a decade, HDFC board to consider stock-split
The country's largest mortgage lender, Housing Development Finance Corporation (HDFC), today said it may consider a sub-division of shares at is forthcoming board meet.

Reliance discovers more oil in Cambay basin
India’s biggest conglomerate whose businesses span petrochemicals, refining, oil and gas exploration and retail said the current flow was at 300 barrels of oil per day (bopd) at the onland exploratory block in the Cambay basin in Gujarat state

Reliance ADAG plans Rs 1.5k-cr cement plant
During the last year's annual general meeting, Anil Ambani disclosed the company's intention of creating cement capacity of 20 million tonne per annum with an investment of nearly Rs 10,000 crore over the next five years. If this target is achieved, Reliance Cementation has a chance to become one of the top five players in the country.

Suzlon forms JV to tap Bulgaria’s energy mkt
“Suzlon’s existing infrastructure and experience from already erected turbines in Bulgaria will be beneficial for the development process”.

NMDC to start work on steel plant in Oct
The Chattisgarh plant will begin production within 40 months of construction work starting, the government statement said.

Ranbaxy to launch 100 new products this year

Global consultancy firm PriceWaterhouseCoopers (PWC) estimates India's drug market to touch $50 billion by 2020, a 163 percent increase in the next 10 years, to become one of the world's 10 largest pharmaceutical markets.

Bharti net profit hit by tariff war
“The average revenue from data is far higher than that of voice,” the analyst added. “Data can go up to 40% of total revenue and we expect to keep hearing about this in the quarters to come. That is where the margins are.”

Tech Mahindra slips 4.3% as AT&T sells 7% stake
“With AT&T exiting from Tech Mahindra, AT&T is now free to consider the Indian IT services vendor at par with any other competing vendor,” said Ankur Rudra, IT research analyst at Execution Noble, the UK-based investment bank.

Dabur sees 15-20 sales growth in FY11, Q4 net up 10 pct
The weather office has forecast normal monsoon rains this year. A good monsoon means better harvest for farmers and a higher consumption in rural areas, which comprise half of Dabur's domestic market. International business contributes a fifth of total sales.

NEWS 28-04-2010

2010-04-28T07:52:00.000+05:30

Inflation's Coming V-Shaped Recovery
Inflation has made an even more salient comeback than the economy has. While the Standard & Poor's 500 has risen 80% since its March 2009 low, inflation indicators across the board have also gone into overdrive.

S&P cuts Greek debt to junk, downgrades Portugal

Markets in Europe and the United States tumbled in reaction to signs that the Greek debt crisis was spreading to other highly indebted states on the periphery of the euro zone.

VIX Surges 31% in Biggest Jump Since 2008 on Greece Downgrade

The VIX, as the benchmark index for U.S. options is known, surged 31 percent to 22.81, the highest level since Feb. 11. The index measures the cost of using options as insurance against declines in the Standard & Poor’s 500 Index,

The Cohesion Crisis
What we’re really seeing now is a crisis of the “cohesion countries” — the countries that entered the EU relatively poor, and for a time received substantial aid in the form of “cohesion funds”.

Govt will pay brokers to sell PSU shares
“Retail participation has been poor in the past issues. We have decided to pay a commission of 35 basis points for retail and 15 basis points for HNIs (high networth individuals) to ensure higher participation,” said Sidhartha Pradhan, joint secretary in the disinvestment department in the ministry of finance.

The fisc strikes back

RBI governor D. Subbarao, in a speech in Washington, DC, on Monday, noted how it’s only since 1997 that fiscal policy stopped dominating the monetary side. RBI no longer automatically monetizes deficits, and Parliament has set clear rules for fiscal discipline.

India Plans to Sell Stake in Biggest Company by March

India may sell a stake in the nation’s biggest company as part of a plan to raise a record 400 billion rupees ($9 billion) from asset sales and use the proceeds to reduce the government’s budget deficit.

Gas highway authority plan put on back burner
We already have pipeline connectivity in the northern and western regions. By 2012, large areas of southern region will also get covered as a result of new pipelines that are being set up by GAIL and Reliance Gas Transportation Infrastructure Ltd (RGTIL).

Jindal Steel, RCI In Pact For Three Projects
While Jindal will provide 50 acres land at its existing coal handling and washing plant in Raigarh, RCI will act as a project manager during construction phase and provide technical back-up.

Govt rules out hike in export duty on iron ore fines
The minister acknowledged that the sharp rise in steel prices was an issue of concern which has been discussed by a group of ministers chaired by finance minister Pranab Mukherjee.

Welspun Guj eyes buys in Middle East, America
Investments by Indian firms in the oil and gas sector are growing at a rapid clip, with top-listed conglomerate Reliance Industries agreeing to pay $1.7 billion to take a 40 percent stake in U.S.-based Atlas Energy's operations in the booming Marcellus shale gas project.

Shree Renuka Q2 jumps, price slide seen weighing
In Kolhapur, a key market in top sugar producer Maharashtra, the price of the most traded S-variety has fallen over a third since a record high of 3,972.3 rupees on Jan. 7 due to government curbs to control price rise

Yes Bank targets loan growth of 40-45 pct in FY11
Yes Bank's loans in the March quarter rose 78.9 percent, while interest margin was at 3.2 percent on higher disbursements to corporates and trade finance, Kapoor said.

Power Finance to seek infrastructure fin co status
Following the RBI nod, it expects to tap capital markets in a year's time as it would require additional capital to meet capital adequacy norms for infrastructure companies, he added.

Infy eyeing at least two deals every quarter
Enterprise solutions, which consist of consulting services and packaged implementation, accounted for 26 per cent of the company's revenue for the quarter ended March 31, 2010.

Cipla ties up with Stempeutics for stem cell therapies
The expected current stem cell therapy market in India is about $540 million (Rs 2,395 crore) and will grow rapidly, said Jaideep Gogtay, medical director, Cipla. Stempeutics is currently developing eight stem cell based therapies. Of this, two products are under clinical trial in India and another two in Malaysia.

Unitech sold property worth Rs 7,033 crore
Of the total sales booked, nearly Rs 5,000 crore (Rs 50 billion) came from housing, while the non-residential segment contributed Rs 2,056 crore (Rs 20.56 billion) to overall sales, the presentation said.