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Infosys, inflation drag Sensex 310 points lower

noreply@blogger.com (jeevan) — Fri, 15 Apr 2011 16:45:00 +0000

Today’s major focus was on Infosys Technologies’ earnings, which came in below Street’s expectations. Results of the Information Technology (IT) major disturbed the sentiments and led the markets to witness a steep fall. IT stocks were the biggest losers, which kept markets under pressure all throughout the day. A spike in inflation for March also spooked markets, raising expectations of further rate hikes; this led to a fall in the banking stocks.

The Sensex began the session 27 points lower at 19670 and in no time hit the day’s high of 19701. Later, the index traded lower and extended losses to hit the day’s low of 19337 in early afternoon session. Weakness in IT pack led the Sensex to post heavy losses and remain under pressure. The Sensex tumbled by 310 points to settle at 19387 and the Nifty fell by 87 points to close at 5825.

GVK Power gains on buzz of deal with Hancock

noreply@blogger.com (jeevan) — Thu, 07 Apr 2011 08:46:00 +0000

The shares of GVK Power & Infrastructure surged over 4%, hitting the monthly high of Rs30.55, on reports that the company is in talks to buy two Australian coal mines owned by Hancock Prospecting in a deal worth $8.4 billion. Up till now, over 19.72 lakh shares have traded on the BSE as against the two-week average volume of 14.45 lakh shares.GVK and Hancock had entered into an exclusive arrangement for negotiations that would continue till the middle of next month. To organise the initial funds, GVK has approached some foreign and Indian banks.

What experts says? on Dena Bank

noreply@blogger.com (jeevan) — Thu, 07 Apr 2011 06:38:00 +0000

Buy Dena Bank with a 3-4 day target of Rs 118 and stop loss of Rs 108, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 111.35, up 0.2% on the BSE

What experts says?

noreply@blogger.com (jeevan) — Wed, 06 Apr 2011 06:37:00 +0000

Pradeep Pandya says, BUY Delta Corp Ltd. @ Rs90.65 with a target of Rs.101 and stop loss of Rs.87, on CNBC Awaaz

Bulls March! Markets up 9% as FIIs pump money

noreply@blogger.com (jeevan) — Wed, 06 Apr 2011 02:19:00 +0000

The FIIs played a prime role in lifting the markets higher. The FIIs have bought Indian stocks worth a net of Rs6,897.5 crore in March as compared to net sell of Rs4,585.8 crore seen in February. The local investors continued its buying trend in March as they purchased Indian shares worth a net of Rs22 crore as against net buy of Rs1,436.4 crore seen in February.

Voltas surges on raising stake in JV firm

noreply@blogger.com (jeevan) — Wed, 06 Apr 2011 02:16:00 +0000

Voltas shares rose over 4% in early trade, touching the monthly high of Rs187.70, after the company bought additional 11% stake in Lalbuksh Voltas Engineering Services from its joint venture partner Lalbuksh Contracting and Trading Establishment for Rs6.65 crore.
Following the stake hike, Lalbuksh Voltas Engineering Services has become a subsidiary of Voltas effective March 31, 2011. Voltas now holds 60% stake in Lalbuksh Voltas Engineering Services from 49% earlier. Lalbuksh Voltas Engineering Services is engaged in the business of water and oil drilling, water management and landscaping in Oman.

Fortis takes over Oasis Hospitals cardiac centre in Srilanka

noreply@blogger.com (jeevan) — Tue, 05 Apr 2011 07:01:00 +0000

Fortis Malar Hospitals said it has taken over operations and management of cardiac centre at 170-bed Oasis Hospitals in Sri Lanka.
Fortis Malar Hospitals, which is a subsidiary of Fortis Healthcare (India), did not give any details of the financial involved.'We are happy to expand our presence in Sri Lanka and in partnering with Oasis Hospital. This addition is in line with our strategic objectives to expand our reach and provide access to quality healthcare to communities at affordable costs,' Fortis Healthcare (India) Zonal Director Krish Ramesh said.
The Colombo-based centre has been renamed as 'Fortis Oasis Cardiac Centre', Fortis Malar Hospitals said.
The cardiac centre will be fully equipped to cover all aspects of cardiac care ranging from prevention, diagnosis, treatment and rehabilitated cardiac care.

Commenting on the occasion, Oasis Hospitals MD Nayomi Kanchana Edirisinghe said, 'As a front runner in the heart care, Fortis will bring in superior quality care and offer the best in class treatment in cardiac sciences.'
Oasis Hospital offers medical services with special focus on oncology, general medicine, paediatrics and gynecology, besides diagnostic services.

News on Unity infra:Expecting 1000-1500 cr worth orders this fiscal: COO, Unity Infra

noreply@blogger.com (jeevan) — Mon, 04 Apr 2011 08:06:00 +0000

The stock has not performed well in the last month or so but I think that is true of the sector in general. As far as the order position currently goes this year we have already added 1000 crore of orders this fiscal to date plus we as a lowest bidder in another 500 crore of orders which we expect to materialise shortly.
In addition to that we are also bidding on an ongoing process for around 2000 to 3000 crore of bids per month. So we do expect that in the next 3 months we should be able to significantly cover up our order book position and as of now the order book stands at Rs 3835 crore which is more than 2.5 times of revenues for us. So we are fairly comfortable in terms of our order book position currently and given the visibility that we have as I mentioned the lowest bids plus the new bids that we keep putting in we are fairly confident of keeping up the fresh order inflow position.

What experts says? Unity Infra showing strenth; target Rs 102 in short term: Hemant Kale,MD,Maia Financial Services

noreply@blogger.com (jeevan) — Mon, 04 Apr 2011 07:53:00 +0000

Unity Infra, of course, has been beaten down quite a lot and the primary intermediate trend is currently down but on the shorter term, the chart is definitely showing some signs of strength. It is picking up well. On the shorter term, the price target is around Rs 102 level where profit booking can be done by a short-term player but longer-term players can definitely stay put in this stock.

4 Stocks For Next Week

noreply@blogger.com (jeevan) — Sun, 03 Apr 2011 04:55:00 +0000

Unity Infraprojects Ltd,
Cmp:67.15,
Action:Buy,
Target:150.
Delta Corp Ltd,
Cmp:85.80,
Action:Buy,
Target:125.
Fortis Healthcare Ltd,
Cmp:156.65,
Action:Buy,
Target:---
Denabank Ltd,
Cmp:106.30,
Action:Buy,
Target:150.

FIIs propel markets to new highs this week

noreply@blogger.com (jeevan) — Sat, 02 Apr 2011 03:15:00 +0000

The Indian markets maintained its uptrend for the second week in a row. Strong buying by foreign institutional investors (FIIs) played a major role in boosting the markets. Positive global cues and a decline in food inflation provided further support. The markets witnessed good rollovers on March F&O expiry day. The key indices attained new highs this week on the back of robust FIIs, with the Sensex crossing 19400 levels and the Nifty above the 5800 mark. The Sensex fluctuated around 775 points between a high of 19575 and a low of 18800 and closed the week at 19420, higher by 605 points or 3.21%. The Nifty swung about 229 points and ended the week at 5826, up 172 points or 3.04%

Voltas plans new investments

noreply@blogger.com (jeevan) — Mon, 28 Mar 2011 17:27:00 +0000

Voltas said a limited liability company-Voltas Oman LLC-was incorporated in the Sultanate of Oman with an initial capital of Omani Royal 500,000 to be held in the proportion of 65% by Voltas Group and the balance 35% by Mustafa Sultan Group.The JV will engage in the business of executing electro-mechanical projects in the Sultanate of Oman, it said.In May last year, a memorandum of understanding was executed between Voltas and Mustafa Sultan Group to form a joint venture in the Sultanate of Oman, after completing the lega procedures Upon receipt of requisite approvals and capital contribution from both the joint venture partners, the board of Voltas Oman LLC has allotted shares totaling Omani Riyal 500,000 to the joint venture partners in the aforesaid proportion, whereby Voltas Oman LLC became a subsidiary of Voltas effective March 27, 2011.

Punj Lloyd clinches a Rs 735 crore BOT Annuity project from NHA

noreply@blogger.com (jeevan) — Wed, 23 Mar 2011 07:16:00 +0000

Punj Lloyd Group subsidiary, Punj Lloyd Infrastructure Limited (PLIL), which has been set up for implementing Infrastructure Development projects, announced that it has received a Letter of Award from National.Highways Authority of India (NHAI) for upgradation of NH-31 from Khagaria to Purnea in Bihar to a two-laned, undivided carriageway with paved shoulders, under the NHDP III (National Highways
Development Programme – III) on BOT Annuity basis. The estimated cost of the project is Rs 735 crore. The scope of work involves Design, Build, Finance, Operate and Transfer of the 140 km section of the National Highway. PLIL will form a Special Purpose Vehicle (SPV), which will be signing a Concession Agreement with NHAI for 17 years and will be entitled to semi annual annuities of Rs 56 crore

Markets on a uphill after 3-day fall

noreply@blogger.com (jeevan) — Tue, 22 Mar 2011 16:45:00 +0000

It was a stable day for the Indian market which, on positive cues from the US and Asia, traded firm on the back of buying in most sectors, but more particularly in realty, pharma and infrastructure. Frontline stocks led the gainers in today's session but the market, however, gave up some gains in afternoon trade and closed off the day's high. Sensex shut shop at 17988, up 149 points and Nifty at 5413, up 49 points from the previous close.

Jyothy Labs to turnaround Henkel biz

noreply@blogger.com (jeevan) — Tue, 22 Mar 2011 07:47:00 +0000

The Mumbai-based Jyothy Laboratories, which last week acquired a 14.9% stake in Henkel India, is looking to aggressively turnaround the business if it triumphs in its bid for parent Henkel AG's 50.97% in the Indian unit.
Jyothy Laboratories's Vice-Chairman Ulhas Kamath said the firm was looking to turn Henkel profitable in a year or two. 'It has to happen as quickly as possible. For that we will use every lever possible from manufacturing to distribution to brand-building,' he said.Mr Kamath admitted that Jyothy Laboratories would have to invest substantially in the first year to revive the health of the business, something that has made investors jittery since the 14.9% acquisition last week.

Jyothy Labs rises on buying Diamond Fabcare

noreply@blogger.com (jeevan) — Tue, 22 Mar 2011 07:30:00 +0000

Jyothy Laboratories' arm Jyothy Fabricare Services acquired 100% stake in Delhi-based laundry player Diamond Fabcare to enhance presence in the northern market.
Reacting to this, the shares of Jyothy Laboratories gained over 4% to touch the day's high of Rs208. Till now, over 0.42 lakh shares have traded on the BSE as against the two-week average volume of 1.12 lakh shares.

Jyothy Laboratories said the acquisition of Delhi based Diamond Fabcare will help Jyothy Fabricare Services' growth geographically and spread the reach in northern belt. The financial details were not mentioned. Commenting on the development, M P Ramachandran Chairman and Managing Director of Jyothy Laboratories said there is lot of synergy between Jyothy Fabricare Services and Diamond Fabcare.
Diamond Fabcare, a member of Dry Cleaning & Laundry Institute, USA, has 62 outlets across Delhi, Noida, Gurgaon and Gaziabad. It has significant presence in both institutional and retail segment with Wardrobe being its most popular brand. The Delhi-based laundry player has collaboration with international players for technical expertise. Diamond Fabcare's expertise and domain knowledge will help Jyothy Fabricare to further grow in the northern market, the company said.
Jyothy Fabricare Services, a 75% subsidiary of Jyothy Laboratories, provides laundry services.

4 Stocks For This Week

noreply@blogger.com (jeevan) — Sun, 20 Mar 2011 17:52:00 +0000

Voltas Ltd,
Cmp:157.60
Action:Buy,
Target:---
Shakthi Pumps India Ltd,
Cmp:128.85,
Action:Buy,
Target:----
Punj Lloyd Ltd,
Cmp:61.60,
Action:Sell.
Jyothy Laboratories Ltd,
Cmp:196.70,
Action:Buy on dips
Target:---

Vodafone leads in number portability

noreply@blogger.com (jeevan) — Sun, 20 Mar 2011 05:51:00 +0000

Vodafone's India unit has so far gained the most following India's move allowing mobile users to retain their numbers even when they switch carriers, data from an industry body showed on Friday (March 18, 2011).
But, mobile number portability (MNP), which was launched in a northern state in late November and nationwide from January 20, was not a 'game changer' for the industry, the Cellular Operators Association of India (COAI) said in a statement.
The COAI said less than 5 million subscribers, or less than 1% of the country's total customers, had opted to switch carriers.
Of these, a net 192,761 customers switched to India's third-largest mobile carrier Vodafone Essar, while sixth-ranked Idea Cellular was next, with net gains of 150,789 customers.
Top mobile operator Bharti Airtel gained a net 148,215 customers in MNP, but No. 2 Reliance Communications was a net loser of 306,417 customers, data showed.
With 771 million mobile subscribers as of January, India is the world's second-biggest market for mobile services and with monthly additions averaging 19 million in the past one year, it is the world's fastest growing market.

RIL drags Sensex 150 points lower

noreply@blogger.com (jeevan) — Fri, 18 Mar 2011 06:32:00 +0000

The Indian markets turned red after positive opening as losses of 4% in index heavyweight Reliance Industries led to major decline. Oil & gas, technology and banking stocks were under pressure while some buying was seen in auto, metal and consumer durables.

MindTree loses Japanese contract; stock slips 5%

noreply@blogger.com (jeevan) — Thu, 17 Mar 2011 06:17:00 +0000

The shares of MindTree declined by 5% and hit the 52-week low of Rs355, after the company lost contract from Japan based Kyocera. So far, 0.11 lakh shares have traded on the BSE as against the two-week average volume of 0.21 lakh shares.

2010 Global rebound makes Sensex’s day, ends 191 pts up

noreply@blogger.com (jeevan) — Wed, 16 Mar 2011 17:33:00 +0000

Things remained good in today’s trade as compared to the previous panic day. Sentiments improved led by positive global cues after recovery in Japanese stocks. Short covering after a sharp sell-off was witnessed today. Major support came in from realty, auto and banking stocks. However, some profit booking was seen in late trade at higher levels, which could be because of rising crude oil prices again, reacting to Middle East tensions.The Sensex closed at 18358, up 191 points from its previous close, and Nifty shut shop at 5511, up 61 points.

Siemens Healthcare merges with Siemens

noreply@blogger.com (jeevan) — Tue, 15 Mar 2011 17:12:00 +0000

Siemens Healthcare Diagnostics said today it has merged with Siemens with effect from March 14, 2011.
'With effect from March 14, 2011, company stands amalgamated with Siemens and the legal entity of the company stands dissolved without winding up,' Siemens Healthcare Diagnostics said in a filing to the Bombay Stock Exchange (BSE).It further added that the entire business and undertaking of the company gets transferred to and in the name of Siemens.

The company and Siemens have filed a certified copy of the respective orders of the Bombay High Court and Gujarat High Court with the concerned Registrars of Companies on March 14, 2011.In an earlier filing to the BSE, it had said the said amalgamation was to be effective only after the certified copies of the orders of both the High Courts were filed with the respective Registrars of Companies.
Siemens is the Indian arm of Siemens AG, a German infrastructure solutions company, which recently announced an open offer to buy nearly a 20% stake in Siemens at a price of Rs930 per share, translating into a total cost of Rs6,200 crore.

Tyre makers speed up on fall in rubber prices

noreply@blogger.com (jeevan) — Tue, 15 Mar 2011 06:54:00 +0000

Six tyre companies’ shares rose 2.65% to 11.50% on the BSE on fall in rubber prices.At 11.12 am, JK Tyre & Industries up 11.50%, Dunlop India up 7.79%, CEAT up 6.01%, Goodyear India up 4.62%, MRF up 4.14% and Apollo Tyres up 2.65%.The fall in rubber prices on Monday (March 14, 2011) to Rs185 per kilogram from Rs201 last week benefited the domestic tyre manufacturers like Apollo, Ceat and JK Tyres among others.A fall of over Rs16 per kilogram in a day will help companies improve their operating profit margins in the first and second quarter of next financial year.

Suzlon promoters sell Rs178 cr shares; stock down

noreply@blogger.com (jeevan) — Tue, 15 Mar 2011 05:15:00 +0000

Tulsi Tanti-owned Suzlon Energy has announced that two of its promoters sold 40 million shares in the company, which accounts to 2.25% of its paid-up capital.Vinod Ranchhodhbhai Hindu undivided family (HUF) and Sanman Holdings, who form a part of the promoter group, sold 2 crore shares each. With this, the promoter group's holding in the company reduced to 54.84% of the paid-up capital.According to data available on the National Stock Exchange (NSE) under the block deals, the promoters sold their shares at Rs44.7 per share, thereby rising around Rs178 crore.

Shares of Wockhardt fell by 10%

noreply@blogger.com (jeevan) — Mon, 14 Mar 2011 16:19:00 +0000

Shares of Wockhardt Ltd fell by 10% and hit the monthly low of Rs312.50 in early trades on media reports that the Bombay High Court (HC) on Friday (March 11, 2011) admitted a winding-up petition filed by the company's foreign currency convertible bond (FCCB) holders.A group of three FCCB holders, or unsecured creditors led by Singapore-based hedge fund QVT, Sun Pharma and Syndicate Bank, had filed the petition in January 2010, according to reports. The three hold bonds worth $42 million, the reports addedWockhardt had to redeem $110 million worth of FCCBs by October last year. Though it managed to settle with several creditors, FCCBs worth about $75 million is still under dispute, as per reports.