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Fund houses hike brokerages to 3-4%

CB — Fri, 10 Jul 2009 14:45:25 +0000

Fear lower collections after the entry load ban.Fund houses have aggressively started hiking brokerages for distributors to increase collections. The reason: They fear a lull in inflows after the ban on entry load comes into effect from August 1. Industry sources said many fund houses we...

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Indian shares post biggest weekly fall in 8 mths

CB — Fri, 10 Jul 2009 14:42:35 +0000

MUMBAI: Indian shares fell 1.8 per cent on Friday and posted their biggest weekly fall in more than eight months as concern about the economy kept investors jittery, but Infosys bucked the trend and rallied on strong quarterly result. Infosys Technologies, the country’s No. 2 outso...

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Buy Dr Reddys Laboratories: Indiabulls Securities Research

CB — Fri, 10 Jul 2009 14:41:08 +0000

Indiabulls Securities Research has upgraded its rating on Dr Reddys Laboratories to buy in its July 07, 2009 research report. “Dr Reddy’s Laboratories (DRL)’s top line increased by an impressive 51.6% yoy, for the second quarter on the trot, in Q4’09, surpassing our expectat...

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Hold Tata Power Company: Indiabulls Securities

CB — Fri, 10 Jul 2009 14:40:20 +0000

Indiabulls Securities Research has downgraded its rating on Tata Power Company from buy to hold in its July 08,2009 research report. “Tata Power Company delivered a solid set of numbers on the back of strong performance in the coal business. Consolidated net profit increased 27% y-...

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Hold NTPC, target of Rs 212: Indiabulls Securities

CB — Fri, 10 Jul 2009 14:39:10 +0000

Indiabulls Securities Research has recommended a hold rating on NTPC with a target of Rs 212 in its July 7, 2009 report. “NTPC’s stock is currently trading at a forward P/E of 18x and 15.4x for FY10E and FY11E, respectively. For our DCF based valuation we have assumed a 14% cap o...

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DIIs and FIIs continue selling

CB — Fri, 10 Jul 2009 10:32:43 +0000

Of the 15 components of the Instanex FII Index 11 were down and four were up. Instanex At 3 pm, domestic institutional investors and FIIs seem to have increased their sales. The Instanex DII 15 portfolio was down 1.57% (+0.28% at 2 pm) and the Instanex FII Index was down 1.24% at 292.51...

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Infosys adds 27 clients in Q1

CB — Fri, 10 Jul 2009 10:11:19 +0000

UMBAI: The country’s second largest software exporter Infosys today said it has added 27 new clients during the first quarter ended June 30, “27 clients were added during the quarter by Infosys and its subsidiaries,” Infosys said in a statement. However, on a quarter-o...

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Markets oversold; chances of rebound high: Nirmal Bang

CB — Fri, 10 Jul 2009 05:22:17 +0000

MUMBAI: Nirmal Bang is of the opinion that the market are little bit oversold and chances of a rebound is very high. Selling at lower levels around the support region should be avoided, it says. “The trend is weak as huge selling pressure is witnessed in Nifty around the 4110-4150 reg...

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HCC surges on bagging order worth Rs 387.5 crore

CB — Fri, 10 Jul 2009 05:15:27 +0000

Hindustan Construction Company, HCC touched an intraday high of Rs 103.90 and an intraday low of Rs 101.60. At 10:36 am, the share was quoting at Rs 102.90, up Rs 1.25, or 1.23%. The company has bagged Rs 387.5 crore order for power plant in Bhutan, reports CNBC-TV18. It was trading wit...

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Infosys Q1 net up 17.2%, sequentially down 5.3%

CB — Fri, 10 Jul 2009 05:12:45 +0000

Infosys Technologies, India’s second largest software services exporter, has posted a 17.2 per cent increase in net profit to Rs 1,527 crore for the first quarter ended 31 March, 2009 when compared with the corresponding quarter a year ago.Total Income for the first quarter has inc...

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