Stocks that are in BAN Period 26/12/2011

Stocks that are in BAN Period as on 26-12-2011 are
1) ABGSHIP
2) GITANJALI
3) RUCHISOYA

Global Markets 26/12/2011

DJIA Up 124.4 (1.0%) NSDQ Up 19.2 (0.7%) FTSE 100 Up 55.7 (1.0%) Asian Markets as on 8.45 AM NIKKEI Down 64.8 (0.77%) HANG SENG Up 250.9 (1.37%) SGX NIFTY Up 6.

FII Data 26/12/2011

Net Index Futures (79), Net Stock Futures (-101), Derivative Market: Total Open Interest (Rs 1,38,800 cr), Stock Futures Open Interest (Rs 28,822 cr)

INDIAN ADRS UPDATE 26/12/2011

 INFOSYS Up 0.1 (0.2%), WIPRO Up 0.2 (1.6%), ICICI BANK Up 0.0 (0.0%), HDFC BANK Up 0.1 (0.3%)

Buy PANTALOON 23/12/2011

Positional Call  4-5 days  Buy PANTALOON  140.00 - 141.00 Stop-Loss  134.00 Tgt 154.00

Global Markets Update 23/12/2011

 DJIA Up 61.9 (0.5%) NSDQ Up 21.5 (0.8%) FTSE 100 Up 67.2 (1.3%) Asian Markets as on 8.45 AM NIKKEI Down 64.8 (0.77%) HANG SENG Up 202.6 (1.1%) SGX NIFTY Up 21.

Stocks that are in BAN Period as on 23-12-2011

Stocks that are in BAN Period as on 23-12-2011 are;
1) ABGSHIP
2) GITANJALI
3) RUCHISOYA

FII Data 23/12/2011

Net Index Futures (289), Net Stock Futures (-332), Derivative Market: Total Open Interest (Rs 1,36,837.10 cr), Stock Futures Open Interest (Rs 28,149 cr)

INDIAN ADRS UPDATE 23/12/2011

INFOSYS Up 1.7 (3.5%), WIPRO Up 0.2 (1.6%), ICICI BANK Up 1.2 (4.5%), HDFC BANK Up 0.2 (0.9%)

Stocks that are in BAN Period as on 22/12/2011

 Stocks that are in BAN Period as on 22-12-2011 
1) ABAN
2) ABGSHIP
3) GITANJALI
4) PUNJLLOYD
5) RUCHISOYA

FII DATA 22/12/12

Net Index Futures (1494), Net Stock Futures (68), Derivative Market: Total Open Interest (Rs 1,34,156 cr), Stock Futures Open Interest (Rs 27,037 cr)

Indian ADRs Update 22/12/2011

 INFOSYS Down 2.1 (4.1%), WIPRO Down 0.1 (0.5%), ICICI BANK Up 0.7 (2.7%), HDFC BANK Up 0.3 (1.2%)

Global Markets update 22/12/2011

DJIA Up 4.2 (0.0%) NSDQ Down 25.8 (1.0%) FTSE 100 Down 29.9 (0.6%) Asian Markets as on 8.45 AM NIKKEI Down 52.6 (0.62%) HANG SENG Down 118.5 (0.64%) SGX NIFTY Down 44.50.

BUY BhartiAirtel 21/12/2011

Momentum Call in F&O: BUY BhartiAirtel (DEC Futs) @ 333.00 - 331.50 Stop-Loss @ 328.30 Target 350.00

Global Markets Update 21/12/2011

DJIA Up 337.3 (2.9%) NSDQ Up 80.6 (3.2%) FTSE 100 Up 54.6 (1.0%) Asian Markets as on 8.45 AM NIKKEI Up 112.1 (1.34%) HANG SENG Up 274.2 (1.52%) SGX NIFTY Up 88.

FII Data 21/12/2011

Net Index Futures (291), Net Stock Futures (-197), Derivative Market: Total Open Interest (Rs 1,33,509.20 cr), Stock Futures Open Interest (Rs25,446.60 cr)

INDIAN ADRS UPDATE 21/12/2011

INFOSYS Up 2.1 (4.2%), WIPRO Up 0.2 (2.0%), ICICI BANK Up 0.8 (3.3%), HDFC BANK Up 0.9 (3.6%)

Global Markets update 20/12/2011

DJIA Down 100.1 (0.8%) NSDQ Down 32.2 (1.3%) FTSE 100 Down 22.4 (0.4%) Asian Markets as on 8.45 AM NIKKEI Up 54.0 (0.65%) HANG SENG Up 67.0 (0.38%) SGX NIFTY Up 7.5.

FII DATA 20/12/2011

Net Index Futures (-1007), Net Stock Futures (-28), Derivative Market: Total Open Interest (Rs 1,31,445 cr), Stock Futures Open Interest (Rs 25,736 cr)

INDIAN ADRS UPDETE 20/2011

INFOSYS Down 1.0 (1.9%), WIPRO Down 0.4 (3.8%), ICICI BANK Down 0.9 (3.6%), HDFC BANK Down 0.5 (1.8%)

STORT TERM CALL BUY :(532532)JPASSOCIATES19/12/2011

STORT TERM CALL BUY :(532532)JPASSOCIATES 58.10-58.40 STOP-LOSS 56.80
1TGT  59.50 2TGT 61.20

Global Markets update 16/12/2011

DJIA Up 45.3 (0.4%) NSDQ Up 1.7 (0.1%) FTSE 100 Up 34.1 (0.6%) Asian Markets as on 8.45 AM NIKKEI Up 25 (0.3%) HANG SENG Up 87 (0.48%) SGX NIFTY Down 4.

Indian ADRs Update 16/12/2011

INFOSYS Up 0.3 (0.5%), WIPRO Up 0.0 (0.1%), ICICI BANK Up 0.1 (0.4%), HDFC BANK Up 0.1 (0.5%)

FII Data 16/12/2011

Net Index Futures (-699), Net Stock Futures (-6), Derivative Market: Total Open Interest (Rs 1,28,877.70 cr), Stock Futures Open Interest (Rs 26,156.46 cr)

Closing Technical Outlook for Nifty fut 15/12/2011

Sharp momentum has been witnessed once nifty fut. broke out of the range of 4735-4685. Going forward momentum on the downside is likely to resume once below 4685 levels. Whereas a close above 4825 level will unfold higher targets in the coming session. Resistance levels at 4774 /4825 & Support levels at 4685 /4635 for coming trading session.

BANKNIFTY FOR SUPPORT 21/04/2011

BANKNIFTY (2nd Resistance) 10783.57
(1st Resistance) 10642.98
Pivot point 10489.42
(1st Support) 10348.83
(2nd support) 10195.27

NIFTY FOR SUPPORT 21/06/2011

NIFTY (2nd Resistance) 5470.95
(1st Resistance) 5365.5
Pivot point 5273.95
(1st Support) 5168.5
(2nd support) 5076.95

Global Markets update 21/06/2011

DJIA Up 76.0 (0.6%) NSDQ Up 13.2 (0.5%) FTSE 100 Down 21.6 (0.4%) NIKKEI Up 83.06 (0.89%) HANG SENG Up 82.97 (0.38%) SGX NIFTY Down 6

FII DII DATA 21/06/2011

Net Index Futures (790), Net Stock Futures (139), Derivative Market: Total Open Interest (Rs 1,37,818 cr), Stock Futures Open Interest (Rs 32,632 cr)

Indian ADRs Update 21/06/2011

INFOSYS Down 0.9 (1.5%), WIPRO Down 0.0 (0.2%), ICICI BANK Down 0.5 (1.1%), HDFC BANK Down 1.1 (0.7%)

BANKNIFTY FOR SUPPORT 16/06/2011

BANKNIFTY (2nd Resistance) 10920.8
(1st Resistance) 10778.6
Pivot point 10692.8
(1st Support) 10550.6
(2nd support) 10464.8

NIFTY FOR SUPPORT 16/06/2011

 NIFTY (2nd Resistance) 5531.43
(1st Resistance) 5491.02
Pivot point 5464.58
(1st Support) 5424.17
(2nd support) 5397.73

FII DII DATA 16/06/2011

Net Index Futures (-458), Net Stock Futures (-513), Derivative Market: Total Open Interest (Rs 1,31,664 cr), Stock Futures Open Interest (Rs 34,361 cr)

Indian ADRs Update 16/06/2011

INFOSYS Down 1.4 (2.2%), WIPRO Down 0.4 (3.0%), ICICI BANK Down 3.3 (1.5%), HDFC BANK Down 3.7 (2.3%)

Global Markets update 16/06/2011

DJIA Down 178.8 (1.5%) NSDQ Down 47.3 (1.8%) FTSE 100 Down 60.6 (1.0%) Asian Markets as on 8.45 AM NIKKEI Down 80.17 (0.84%) HANG SENG Down 335.98 (1.5%) SGX NIFTY Down 56.50

Tata Motors, Maruti, ONGC and RIL may witness some action today

Tata Nano, billed as the world's cheapest car, entered Sri Lanka's taxi market billed as a more comfortable and safer alternative to rickety three-wheel auto rickshaws.

A strike at car maker Maruti Suzuki's Manesar plant entered its fifth day yesterday, causing a production loss of 4,200 vehicles.

ONGC has launched a massive exploration drive for gas extraction in Tripura to meet the requirement of 726 MW gas-based thermal power project at Palatana in South Tripura, which is scheduled to start power generation by December 2012.

Reliance Industries (RIL) has asked the government to withdraw restriction on movement of expats from one oil and gas block to another as the limitation was hindering its operations.

Apollo Tyres will make Dubai its operational hub for the Middle East markets with plans to invest around $1.5 million annually starting this year.

mjunction, the equal joint venture (JV) company held by Tata Steel and Steel Authority of India (SAIL), is scouting for acquisitions in lieu of expansion and has shortlisted two companies in Europe for the purpose.

Indraprastha Gas, promoted by state-run oil firms, has served a legal notice to the petroleum sector regulator for granting city gas distribution licenses in absence of key members on its board, allegedly against a recent Supreme Court order.

The Union environment ministry has asked Naveen Jindal owned Jindal Steel & Power to respond to allegations that the company had built its coal washery at Raigarh in Chhattisgarh without obtaining prior environmental clearance from the ministry.

As the government prepares to issue additional radio licenses and announce new guidelines for the sector, leading FM channel operators such as Entertainment Network India (ENIL) and Reliance Broadcast Network (RBNL) are eying acquisitions.

Viom Networks, a telecom tower JV between Tata Teleservices and the Kanoria Family, who are founders of SREI Infrastructure, confirmed its interest for Reliance Infratel's tower assets.

Private air-carrier SpiceJet will begin regional operations from Tier-2 and 3 cities like Vijayawada, Tirupati, Mysore, Mangalore, Madurai, Nagpur and Indore from mid-July using the Bombardier Q400 Next Gen turboprop aircraft.

Infosys is evaluating options to tap into UK's multi-billion government outsourcing market, as it seeks to compete better with larger domestic rival Tata Consultancy Services by increasing its share of revenues from public sector departments looking to cut costs.

Credit rating agency, ICRA, reduced Reliance Communications' long-term rating to LAA from LAA plus for its Rs 28,116 crore long-term debt and its Rs 5,000 crore non-convertible debenture programme.

Nirma’s delisting of its equity shares from stock exchanges has been kept in abeyance until further notice from market regulator SEBI, following which its exit offer to shareholders has also been deferred.

Infrastructure and real estate company Atlanta was expecting up to 60% growth in revenue as well as net profit year-on-year for the next five years on the back of healthy order book.

Pune-based Garware Motors is looking to forge a joint venture to manufacture the Hyosung range of bikes here in India with Korean S&T Motors Corporation within the next two years.

Jindal Synfuels (JSFL), a subsidiary of Navin Jindal managed JSPL, plans to set up a Coal to Liquid (CTL) plant with an overall capacity of 80,000 barrels per day (bpd) equivalent of key oil products such as Diesel, Naphtha, and LPG near Augul where JSPL is coming up with a steel plant.

The State Bank of India, which shocked investors with a 99% plunge in quarterly earnings, will scrap the annual interest rate reset clause on all loans and move to uniform base rate-linked payments to smoothen out the fluctuations in its profitability.

Gujarat NRE Coke has launched an issue of $50 million direct, unsubordinated, unconditional and unsecured convertible bonds due to matured by 2016.

Shopper's Stop is planning to raise prices of private labels by 10-12% from July 1, 2011. Recently, the company wholly owned subsidiary --Crossword Bookstores-- opened up one 'Crossword' franchisee store at Udaipur.

RPG Group company CESC Ltd has inked a deal to pick up a 4.8% stake in Australia- listed mining company Resource Generation for $10 million.

MindTree Unveils Bluetooth Solutions Suite for In-car Health Applications.

Companies like Ajmera Realty, KLK Industries, Shikhar Leasing & Trading and Sukhjit Starch & Chemicals are going to announce their results today.

Just in: April IIP at 6.3% as per new series

The newly introduced Index of Industrial Production (IIP) with an updated base of 2004-05 starting from the month of April, has expanded at 6.3% pace in April to 167.8 as compared to the level in the month of April 2010. The annual growth for the period April-March 2010-11 stands at 8.2% over the corresponding period of the previous year. However, under the old series, annual industrial output growth in April was 4.4%, lower than the general expectation of around 5%.
According to the data released by Central Statistics Office, the IIP for the Mining, Manufacturing and Electricity sectors for the month of April 2011 stands at 129.1, 178.0 and 146.0 respectively, with the corresponding growth rates of 2.2%, 6.9% and 6.4% as compared to April 2010.
As per Use-based classification, the growth rates in April 2011 over April 2010 are 7.3% in Basic goods, 14.5% in Capital goods and 3.4% in Intermediate goods. The Consumer durables and Consumer non-durables have recorded growth of 3.8% and 2.1% respectively, with the overall growth in Consumer goods being 2.9%, the statement showed.

Indian Overseas Bank launches e-kiosk at Cathedral branch in Chennai

Indian Overseas Bank (IOB), a public sector bank has launched 24x7 cheque depositing machine, E-kiosk at the Cathedral branch in Chennai. eKiosk is a standalone machine which reads MICR data and captures digital image of the deposited cheque and also gives a receipt to the depositor. The bank plans to open 100 such kiosks.

Recently, the company had hiked interest rates payable on select tenures for its domestic term deposits. The bank decided to revise rates payable on domestic term deposit with effect from May 17, 2011.

IOB has reported a growth of 240.79% in its net profit to Rs 434.30 crore for the quarter ended March 31, 2011 as compared to Rs 127.44 crore for the quarter ended March 31, 2010. Total income has surged by 38.40% to Rs 3916.58 crore for the quarter under review whereas the same was at Rs 2829.80 crore in the corresponding previous quarter.

CARE assigns ratings to bank facilities of Tulsyan NEC

Credit rating agency, CARE has assigned ‘CARE BB+’ rating to the long-term bank facilities of Tulsyan NEC for Rs 143.00 crore. The agency has also assigned ‘PR4+’ rating to the short-term bank facilities of the company for Rs 175.00 crore.
The ratings however, draw strength from the established track record of operations, sustained demand for steel products from the infrastructure sector, locational advantage of the company’s steel plant, diversified revenue streams, and the backward integration plans of the company by the setting up of a captive power facility.
Tulsyan NEC has reported net profit for the quarter ended March 31, 2011 at Rs 3.96 crore as compared to profit of Rs 4.03 crore for the quarter ended March 31, 2010 down by 1.73%. The company's total income was up by 85.75% to Rs 373.36 crore for the quarter under review as against Rs 201.00 crore for the similar quarter a period ago.
Tulsyan NEC is a diversified company with business interests in steel and plastic packaging material. The company manufactures thermo mechanically treated (TMT) bars, billets and ingots in the steel division and polypropylene woven sacks, flexible intermediate bulk containers and woven fabric in the synthetic division.

Haria Exports touches the roof on plan of demerging its garment division

Haria Exports is currently locked at its upper circuit limit of Rs 4.92, up by 0.23 points or 4.90% from its previous closing of Rs 4.69 on the BSE.

The scrip opened at Rs 4.92 and has touched a high and low of Rs 4.92 and Rs 4.92 respectively. So far 1513 shares were traded on the counter.

The BSE group 'T' stock of face value Rs 10 has touched a 52 week high of Rs 7.36 on 12-Jul-2010 and a 52 week low of Rs 3.03 on 11-May-2011.

Last one week high and low of the scrip stood at Rs 4.92 and Rs 3.68 respectively. The current market cap of the company is Rs 2.82 crore.

The promoters holding in the company stood at 12.96% while Institutions and Non-Institutions held 0.02% and 87.02% respectively. 

Haria Exports is eyeing for approval for scheme of arrangement involving demerger of its garment division and merger of Best Plastex with the company. For the propose scheme of arrangement the company will hold a board meeting of its directors on June 14, 2011.

Haria Exports offers garments and note books in India and internationally. It manufactures and exports garments comprising men’s and ladies' cotton shirts, towels and napkins as well as cotton fabrics. The company also offers note books.

Glenmark Pharma surges on its arm getting USFDA approval for Mupirocin ointment

Glenmark Pharma is currently trading at Rs. 314.30, up by 5.70 points or 1.85% from its previous closing of Rs. 308.60 on the BSE.

The scrip opened at Rs. 311.00 and has touched a high and low of Rs. 316.70 and Rs. 309.00 respectively. So far 70,486 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 389.75 on 07-Dec-2010 and a 52 week low of Rs. 241.60 on 28-Feb-2011.

Last one week high and low of the scrip stood at Rs. 316.70 and Rs. 304.55 respectively. The current market cap of the company is Rs. 8474.65 crore.

The promoters holding in the company stood at 48.31% while Institutions and Non-Institutions held 37.37% and 14.31% respectively.

Glenmark Generics’ (GGL) United States (US) subsidiary -- Glenmark Generics Inc., (GGI) -- has been granted final approval for its Abbreviated New Drug Application (ANDA) from the United States Food and Drug Administration (USFDA) for Mupirocin ointment USP, 2%.

Mupirocin ointment is indicated for the topical treatment of impetigo due to: Staphylococcus aureus and Streptococcus pyogenes and is available in a 22 gram tube presentation. Mupirocin ointment garnered annual sales of $55 million and achieved a 9% increase in growth compared to the same period last year.

Glenmark’s current portfolio consists of 68 products authorized for distribution in the US marketplace and 39 ANDA’s pending approval with the US FDA. In addition to these internal filings, GGI continues to identify and explore external development partnerships to supplement and accelerate the growth of the existing pipeline and portfolio.

GGL is a subsidiary of Glenmark Pharmaceuticals and aims to be a global integrated Generic and API leader. GGL has an established presence in North America, EU and Argentina and maintains marketing front-ends in these countries.

On consolidated basis, the group’s net profit after tax for the year ended March 31, 2011 increased marginally by 38.30% at Rs 457.83 crore as compared to Rs 331.03 crore for the previous year. Total income for the year increased by 21.93% at 3089.59 crore as compared to Rs 2533.81 crore for the previous year.

Phoenix Mills ascends on getting an upgradation in its fundamental grade to 3 /5

Phoenix Mills is currently trading at Rs 194.25, up by 3.45 points or 1.81% from its previous closing of Rs 190.80 on the BSE.
The scrip opened at Rs 196.90 and has touched a high and low of Rs 197.75 and Rs 193.00 respectively. So far 4176 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 269.25 on 09-Sep-2010 and a 52 week low of Rs 160.00 on 14-Mar-2011.
Last one week high and low of the scrip stood at Rs 197.75 and Rs 183.20 respectively. The current market cap of the company is Rs 2810.73 crore.
The promoters holding in the company stood at 65.92% while Institutions and Non-Institutions held 27.44% and 6.64% respectively.
Rating agency, CRISIL Equities has upgraded Phoenix Mills CRISIL IER fundamental grade to 3/5 from 2/5. The grade indicates that the company’s fundamentals are good relative to other listed equity securities in India. The rating agency has also assigned a valuation grade of 4/5 to the company.
The rating agency has revised the company’s fundamental grade following consistently strong performance by its consumption centre High Street Phoenix (HSP) in Mumbai, encouraging pre-leasing activities in upcoming market city projects and the company`s strong balance sheet despite it being in an asset-heavy retailing business.
The assigned grade factors in strong cash flows from HSP, an established retail destination housing marquee tenants such as Zara, Diesel, Manchester United CafA, Hamleys, etc. with more than 1 million footfalls a month.
Phoenix Mills engaged in property development in India. Its activities include planning, execution, and marketing of projects, property rental and management, and maintenance and sale of the completed properties.

Gujarat NRE Coke rises on the bourses

Gujarat NRE Coke is currently trading at Rs. 50.80, up by 1.25 points or 2.52% from its previous closing of Rs. 49.55 on the BSE.

The scrip opened at Rs. 50.00 and has touched a high and low of Rs. 51.50 and Rs. 50.00 respectively. So far 1,76,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 72.00 on 05-Jan-2011 and a 52 week low of Rs. 41.00 on 25-Feb-2011.

Last one week high and low of the scrip stood at Rs. 51.50 and Rs. 48.80 respectively. The current market cap of the company is Rs. 2668.64 crore.

The promoters holding in the company stood at 47.50% while Institutions and Non-Institutions held 29.14% and 23.36% respectively.

Gujarat NRE Coke has launched an issue of $50 million direct, unsubordinated, unconditional and unsecured convertible bonds due to matured by 2016. However, issue is subject to an over allocation of $10 million worth bonds convertible into ordinary equity shares of the company quoted in Indian Rupees. First International Group and UBS AG are appointed as the Joint Book runners for the offering of the bonds.

The bonds are proposed to the listed on the Singapore Exchange Securities Trading and the equity shares of the company to be issued upon conversion of the bonds shall be listed on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).

Further, the issue of the bonds and issuance at the equity of the company upon conversion of the bonds was authorized by a resolution of the Board of Directors of the company at a meeting held on October 21, 2010 and by a special resolution of the shareholders passed by postal ballot the result of which was declared on December 13, 2010. Further the opening of the issue has been authorized by a resolution of the management committee of the Board of Directors of the Company passed at a meeting held on June 09, 2011.

MMTC rises on the bourses

MMTC is currently trading at Rs. 916.00, up by 4.85 points or 0.53% from its previous closing of Rs. 911.15 on the BSE.
The scrip opened at Rs. 918.00 and has touched a high and low of Rs. 918.00 and Rs. 912.00 respectively.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1935.00 on 29-Jul-2010 and a 52 week low of Rs. 867.80 on 25-Mar-2011.
Last one week high and low of the scrip stood at Rs. 928.90 and Rs. 901.10 respectively. The current market cap of the company is Rs. 91115.00 crore.
The promoters holding in the company stood at 99.33% while Institutions and Non-Institutions held 0.52% and 0.15% respectively.
MMTC, the country’s largest foreign trading company, is planning to take a major leap in the non-conventional energy sector, after its successful pilot project in Karnataka. The company will invest around Rs 240 crore in the next two years to set up new wind mill units across the country, as a part of diversification.
The company has already commenced its first 15-MW wind farm project in Gajendragad, Karnataka. For the last four years the state-owned firm owns 100 acres of wind farm with 54 wind mills generating over 102 million units of power. It supplies electricity to HESCOM/KPTCL, a unit of Hubli Electricity Supply Company of the Karnataka.
The company’s new investment plan comes in the wake of the success of its 15 MW windmill plant in Karnataka. The pilot project comprising of 25 windmill units was set up in Gajendragad in Gadag district with an investment of Rs 68.75 crore in 2007.

FII DII DATA 09/06/2011

Net Index Futures (-268), Net Stock Futures (-270), Derivative Market: Total Open Interest (Rs 1,26,408 cr), Stock Futures Open Interest (Rs 33,383 cr)

Indian ADRs Update 09/06/2011

 INFOSYS Down 0.5 (0.8%), WIPRO Up 0.1 (0.4%), ICICI BANK Down 0.6 (1.2%), HDFC BANK Down 0.1 (0.0%)

Global Markets update 09/06/2011

 DJIA Down 21.9 (0.2%) NSDQ Down 26.2 (1.0%) FTSE 100 Down 55.8 (1.0%) Asian Markets  NIKKEI Down 27.87 (0.29%) HANG SENG Down 119.74 (0.53%) SGX NIFTY Down 16.50

BANKNIFTY FOR SUPPORT 09/06/2011

BANKNIFTY (2nd Resistance) 10959.48
(1st Resistance) 10879.47
Pivot point 10814.78
(1st Support) 10734.77
(2nd support) 10670.08

NIFTY FOR SUPPORT 09/06/2011

NIFTY (2nd Resistance) 5581.08
(1st Resistance) 5555.47
Pivot point 5533.38
(1st Support) 5507.77
(2nd support) 5485.68

FII DII DATA 08/04/2011

Net Index Futures (-269), Net Stock Futures (-359), Derivative Market: Total Open Interest (Rs 1,26,204 cr), Stock Futures Open Interest (Rs 33,253 cr)

Indian ADRs Update 08/04/2011

 INFOSYS Up 0.1 (0.2%), WIPRO Down 0.1 (0.4%), ICICI BANK Up 0.1 (0.3%), HDFC BANK Down 2.3 (4.1%)

Global Markets update 08/04/2011

DJIA Down 17.3 (0.1%) NSDQ Down 3.7 (0.1%) FTSE 100 Down 33.8 (0.6%) Asian Markets as on 8.45 AM  NIKKEI Up 88 (0.91%) HANG SENG Up 161 (0.66%) SGX NIFTY Up 1.5

FII DII DATA 07/04/2011

Net Index Futures (-117), Net Stock Futures (-305), Derivative Market: Total Open Interest (Rs 1,24,609 cr), Stock Futures Open Interest (Rs 32,812 cr)

Indian ADRs Update 07/04/2011

INFOSYS Down 0.3 (0.4%), WIPRO Down 0.1 (0.6%), ICICI BANK Down 0.6 (1.2%), HDFC BANK Down 0.6 (0.4%)

Global Markets update 07/04/2011

DJIA Up 32 (0.3%) NSDQ Up 8.6 (0.3%) FTSE 100 Up 34.1 (0.6%) Asian Markets as on 8.45 AM  NIKKEI Up 55 (0.57%) HANG SENG Down 41 (0.17%) SGX NIFTY Down 2

Global Markets update 06/04/2011

DJIA Down 6.1 (0.1%) NSDQ Up 2.0 (0.1%) FTSE 100 Down 9.9 (0.2%) Asian Markets as on 8.45 AM  NIKKEI Down 21 (0.21%) HANG SENG Up 54 (0.23%) SGX NIFTY Up 21

Ashok Leyland gains on its plans to be among top 10 truck-makers globally

Ashok Leyland is currently trading at Rs. 59.25, up by 0.85 points or 1.46% from its previous closing of Rs. 58.40 on the NSE.

The scrip opened at Rs. 59.00 and has touched a high and low of Rs. 59.80 and Rs. 58.70 respectively. So far 11,76,244 shares were traded on the counter.

The NSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 81.90 on 08-Nov-2010 and a 52 week low of Rs. 45.10 on 24-Feb-2011.

Last one week high and low of the scrip stood at Rs. 59.80 and Rs. 56.10 respectively. The current market cap of the company is Rs. 7849.00 crore.

The promoters holding in the company stood at 38.61% while Institutions and Non-Institutions held 31.33% and 16.62% respectively.

Ashok Leyland in a bid to break into the list of top 10 global truck manufacturers and top five bus makers in the next 5-10 years is adopting a three-pronged strategy. The company is currently among list of top 20 in truck manufacturing and among top 10 in bus manufacturing globally.

The three-prolonged strategies on which the company will be working would be - focusing on delivering quality products, developing and managing people, and leveraging the value of products by adopting new branding exercise.

Ashok Leyland had set a target of selling around 1.10 lakh to 1.20 lakh units during this financial year (2011-12). Till March 31, the company has sold 94,100 units with exports contributing over 10,000. The company has also ramped up the capacity of its Pant Nagar facility to produce 30,000-40,000 vehicles from next year from the present 2,600 units.

Recently, Ashok Leyland and Japanese auto-maker Nissan Motor Company rolled out their first light commercial vehicle under the brand, 'Ashok Leyland - DOST'. The company’s net profit for the quarter ended December 31, 2010 has plunged by 58.55% at Rs 43.37 crore as compared to Rs 104.63 crore for the quarter ended December 31, 2009.

Gravita India jumps on acquiring K. M. Udyog, Jammu

Gravita India is currently trading at Rs. 410.80, up by 8.70 points or 2.16% from its previous closing of Rs. 402.10 on the BSE.
The scrip opened at Rs. 406.05 and has touched a high and low of Rs. 412.90 and Rs. 406.05 respectively. So far 51,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 421.85 on 04-Apr-2011 and a 52 week low of Rs. 165.70 on 10-Dec-2010.
Last one week high and low of the scrip stood at Rs. 421.85 and Rs. 335.60 respectively. The current market cap of the company is Rs. 547.66 crore.
The promoters holding in the company stood at 73.52% while Institutions and Non-Institutions held 7.45% and 19.03% respectively.
Gravita India together with its subsidiary company - Gravita Exim has acquired 60% stake in K. M. Udyog, Jammu. The installed lead manufacturing and refining capacity of K. M. Udyog, Jammu is 7200 MT per annum.
With this acquisition, the enhanced capacity of the company will be 45,900 MT per annum. The addition of K. M. Udyog, Jammu is expected to improve the top and bottom line of Gravita India by around rupees sixty five crores and rupees three crores respectively during the financial year 2011-12.
In January this year, Gravita India’s subsidiary - Gravita Exim - has completed the disinvestment of 287,450,000 shares of ZMK 1 each, held by the said subsidiary in Gravita Zambia on December 25, 2010. Gravita Zambia, a wholly owned subsidiary of Gravita Group of Companies, is a growing name in Lead Recycling & Process industries of Zambia. The company is promoted to manufacture Remelted Lead & Plastic Recycling.
Gravita India manufactures lead metal using recycling and smelting process, besides it also makes other lead based products and lead alloys. Lead is the second most recycled metal in the world and is also most widely used across in industrial sectors, especially automobiles.

FII DII DATA 05/04/2011

Net Index Futures (1393), Net Stock Futures (-511), Derivative Market: Total Open Interest (Rs 1,17,370 cr), Stock Futures Open Interest (Rs 31,992 cr)

Indian ADRs Update 05/04/2011

INFOSYS Up 0.3 (0.4%), WIPRO Up 0.0 (0.1%), ICICI BANK Up 0.6 (1.2%), HDFC BANK Up 4.0 (2.3%)

Global Markets update 05/04/2011

DJIA Up 23 (0.2%) NSDQ Down 0.4 (0.0%) FTSE 100 Up 7.1 (0.1%) Asian Markets as on 8.45 AM  NIKKEI Down 112 (1.15%) HANG SENG Up 349 (1.46%) SGX NIFTY Up 0.50

FII DII DATA 04/04/2011

Net Index Futures (-123), Net Stock Futures (-648), Derivative Market: Total Open Interest (Rs 1,08,445 cr), Stock Futures Open Interest (Rs 30,428 cr)

Indian ADRs Update 04/04/2011

 INFOSYS Up 1.4 (2.0%), WIPRO Up 0.3 (1.9%), ICICI BANK Up 0.3 (0.5%), HDFC BANK Up 2.5 (1.4%)

Global Markets update 04/04/2011

DJIA Up 57 (0.5%) NSDQ Up 8.5 (0.3%) FTSE 100 Up 101.2 (1.7%) Asian Markets as on 8.45 AM  NIKKEI Up 70 (0.72%) HANG SENG Up 250 (1.05%) SGX NIFTY Up 11

FII DII DATA 01/04/2011

Net Index Futures (1338), Net Stock Futures (-463), Derivative Market: Total Open Interest (Rs 1,67,061 cr), Stock Futures Open Interest (Rs 35,192 cr)

Indian ADRs Update 01/04/2011

INFOSYS Up 0.9 (1.3%), WIPRO Up 0.1 (0.8%), ICICI BANK Down 0.2 (-0.4%), HDFC BANK Up 2.5 (1.5%)

Global Markets update 01/04/2011

DJIA Down 31 (0.3%) NSDQ Up 4.3 (0.2%) FTSE 100 Down 39.5 (0.7%) Asian Markets as on 8.45 AM  NIKKEI Down 10 (0.11%) HANG SENG Up 13 (0.05) SGX NIFTY Up 5.50

Supreme Infrastructure surges on revision in ratings assigned to the bank facilities of the company by CARE

Supreme Infrastructure is currently trading at Rs. 210.15, up by 1.20 points or 0.57% from its previous closing of Rs. 208.95 on the BSE.
The scrip opened at Rs. 207.55 and has touched a high and low of Rs. 216.50 and Rs. 207.55 respectively. So far 5200 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 319.80 on 20-Aug-2010 and a 52 week low of Rs. 175.00 on 01-Apr-2010.
Last one week high and low of the scrip stood at Rs. 216.50 and Rs. 195.25 respectively. The current market cap of the company is Rs. 359.95 crore.
The promoters holding in the company stood at 56.61% while Institutions and Non-Institutions held 12.23% and 31.16% respectively.
Credit rating agency, CARE has revised the ratings of Rs 224.75 crore long term bank facilities of Supreme Infrastructure to ‘BBB-‘from ‘BB+’. The rating agency has also revised the ratings of Rs 300 crore short term bank facilities of the company to PR3 from PR4.
The rating revision takes into account the improved financial performance of the company in terms of sales, profitability during FY10 and 9M FY11 and improved leverage position and average collection period in 9M FY11. The ratings continue to factor in the promoters’ long experience in execution of construction contracts, qualified management team, revenue visibility in the medium term, comfortable profitability margins and growth prospects of the infrastructure sector in general.
Supreme Infrastructure is engaged in the construction of highways, roads and bridges and engineering works. It also manufactures crushed metals, ready-mix concrete, asphalt and wet mix macadam.

Aurobindo Pharma gains on getting final approval from USFDA for Fosinopril Sodium

Aurobindo Pharma is currently trading at Rs 194.50, up by 0.70 points or 0.36% from its previous closing of Rs 193.80 on the BSE.
The scrip opened at Rs 198.40 and has touched a high and low of Rs 198.50 and Rs 192.75 respectively. So far 235783 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 275.00 on 05-Jan-2011 and a 52 week low of Rs 156.50 on 25-Feb-2011.
Last one week high and low of the scrip stood at Rs 203.95 and Rs 184.65 respectively. The current market cap of the company is Rs 5649.21 crore.
The promoters holding in the company stood at 54.40% while Institutions and Non-Institutions held 35.80% and 9.81% respectively. Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Fosinopril Sodium Tablets USP 10mg, 20mg and 40mg.
Fosinopril Sodium Tablets USP 10mg, 20mg, and 40mg is the generic version of Bristol-Myers Squibb Company Pharmaceutical Research Institute’s Monopril tablets 10mg, 20mg, and 40mg. The product falls under the cardiovascular (CVS) therapeutic category and is indicated for the treatment of hypertension. The product has a market size of about $20 million for the twelve months ending September 2010.

Reliance MediaWorks climbs on plans to raise Rs 500-Rs 600 crore through sale of equity

Reliance MediaWorks is currently trading at Rs. 151.90, up by 0.65 points or 0.43% from its previous closing of Rs. 151.25 on the BSE.

The scrip opened at Rs. 153.50 and has touched a high and low of Rs. 154.00 and Rs. 151.30 respectively. So far 60,354 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 309.00 on 06-Oct-2010 and a 52 week low of Rs. 122.25 on 09-Feb-2011.

Last one week high and low of the scrip stood at Rs. 154.00 and Rs. 148.05 respectively. The current market cap of the company is Rs. 700.43 crore.

The promoters holding in the company stood at 62.23% while Institutions and Non-Institutions held 6.07% and 31.70% respectively.

Reliance MediaWorks is in talks with strategic investors to raise Rs 500 crore to Rs 600 crore through a sale of equity. Some large global media services firms based in the United States and Europe are showing interest in buying a stake in the company.

Reliance MediaWorks has been discussing with the global firms from the last three months and the deal may be signed by the middle of the fiscal that begins in April. The company which operates cinemas, film and media services, and television production is seriously thinking of turning the media services business into a separate subsidiary, which can then offload a stake, although nothing has been finalized yet.

In January this year, the company was all set to open the country’s most modern studio that may invite several Hollywood and European filmmakers with its affordable international-standard production facilities.

Reliance MediaWorks is India’s fastest growing film and entertainment services company. It operates BIG Cinemas, the largest cinema chain of the country with over 525 screens spread across India, US, Malaysia, Nepal and Netherlands. 

Equity indices continue to trade firm; Nifty above 5800 mark

The domestic equity bourses have maintained their rally for the eight consecutive day with the BSE Sensex surpassing the 19,400 mark and the NSE Nifty trading well above 5800 milestone in the mid morning session. After making a firm start tracking positive cues from global indices, the Indian equity markets are continuing the rally some mild profit booking too has appeared but recovery was instant and the indices are trading on a firm note. It seems that bulls have taken total grip of the bourses and are in no mood to relent. However market may see some volatility in the latter part of the trade due to expiry of March F&O series.
Meanwhile, the rally in the domestic market continues on buying supported from institutional, domestic and retail front. The FIIs on Wednesday were the net buyers in equities. The Asian markets were trading mostly in green, barring Shanghai Composite that has plunged by more than a percent.

The BSE Sensex is currently trading at 19,422.80, up by 132.62 points or 0.69%. The index has touched a high of 19,443.48 and a low of 19,339.75 respectively. 19 stocks were advancing against 11 declines on the index.

In the broader markets, BSE Mid cap and Small cap indices climbed 0.34% and 0.66% respectively.

The top gaining sectoral indices on the BSE were, CG up by 1.17%, IT up by 1.09%, Realty up by 0.91%, Oil & Gas up by 0.82% and CD was up by 0.80%. While the Auto index remained the sole loser in the space down 0.50%.

The top gainers on the Sensex were Hero Honda up by 3.24%, TCS up by 2.25%, BHEL up by 1.70%, ONGC up by 1.66% and L&T was up by 1.47%.

On the flip side, M&M down by 2.77%, Cipla down by 1.88%, RCom down by 1.73%, Bharti Airtel down by 1.54% and Maruti Suzuki down by 1.47% were the top losers on the index.

Meanwhile, despite the Indian government looking to further ease the regulations governing the foreign direct investment (FDI), the direct capital inflows into the country declined for a second consecutive month in February to $1.2 billion. The figure is about 30% below the FDI worth $1.7 billion received in the same month a year ago.

Various agencies have been raising concerns over declining FDI amidst a widening current account deficit (CAD). Cumulative FDI into India during the first 11-months of the current fiscal year has declined by 25% to $18.3 billion, putting pressure on the government to fine-tune its policies in order to attract greater amount of overseas investment. The country had received FDI worth $24.6 billion during the corresponding period of last financial year.

The Reserve Bank of India (RBI) had said recently that it preferred greater amount of long-term and stable flows through FDI into the country rather than often short-term oriented foreign institutional investment (FII) to bridge the current account deficit (CAD) that the country faces. The Governor of the central bank D Subbarao said that while inflow of foreign capital was welcome for bridging the CAD, the RBI would always prefer the stable inflows in terms of FDI, which comes with a long term commitment, rather than volatile portfolio inflows which can reverse in case of even a small change in either domestic of global economic scenario.

The decline in FDI in India has been rather against the trend seen in other developing countries. A recent report by the United Nations Conference on Trade and Development (UNCTAD) had observed that in the last calendar year, emerging market economies (EMEs) attracted more foreign investment than developed countries for the first time in history as the global economic engine shifts to the EMEs. Despite this, the FDI into India has seen a decline.

Meanwhile, the government is set to release a revised FDI policy circular later in the day hoping to attract greater amount of foreign funds in the next financial year beginning April 1. Among other modifications, the third edition of the Consolidated FDI Policy Circular (CFPC) may contain guidelines on domestic companies issuing shares to foreign entities for considerations other than cash, a move aimed at checking possible misuse of FDI policy to engage in money laundering.

The S&P CNX Nifty is currently trading at 5,823.65, higher by 36 points or 0.62%. The index has touched a high of 5,830.80 and a low of 5,803.05 respectively. There were 29 stocks advancing against 21 declines on the index.

The top gainers of the Nifty were Grasim up by 3.15%, Hero Honda up by 3%, TCS up by 2.30%, ONGC up by 2.02% and L&T up by 1.83%.

M&M down by 2.85%, HCL Tech down by 2.10%, RCom down by 1.87%, Cipla down by 1.85% and Bharti Airtel was down by 1.54%, were the major losers on the index.

Asian markets were trading mostly in the green zone; Hang Seng added 22.68 points or 0.10% to 23,474.11, Jakarta Composite climbed 22.67 points or 0.62% to 3,663.65, KLSE Composite advanced 4.71 points or 0.31% to 1,536.34, Nikkei 225 rose 26.97 points or 0.28% to 9,735.76, Straits Times gained 1.96 points or 0.06% to 3,097.28 and Seoul Composite moved up 6.36 points or 0.30% to 2,097.74.

On the other hand, Shanghai Composite plunged 28.62 points or 0.97% to 2,927.15 and Taiwan Weighted shed 12.12 points or 0.14% to 8,634.19.

Benchmarks make firm start tracking positive cues from global indices

The Indian equity markets have made a firm start tracking positive cues from global indices. The US markets extended their gains overnight supported by good jobs data, even though European concerns resurfaced with Portugal nearing a bailout. However, the Asian markets were trading on a mixed note. Back home, Nifty surged to its two and a half month high and breached its crucial 5,800 level supported by sustained buying by foreign funds which boosted investors’ sentiments and India’s win over Pakistan in the cricket’s World Cup semi finals also aided the sentiments. Consumer durables witnessed the maximum gain in trade followed by software and capital goods with no losers on the BSE sectoral space. The broader indices were going neck to neck with benchmarks. Meanwhile, Paper stock, AP Paper Mills again touched the roof in the early trade and gained about 20% as in a surprising deal of International Paper Company, the US based paper and packaging giant, has bought 53.5% stake in Andhra Pradesh Paper Mills from its promoters for around Rs 1160 crore. Other Paper stocks viz., Tamil Nadu Newsprint, JK Papers and West Coast Paper mills were also trading with good gains. The market breadth on the BSE was positive; there were 1,119 shares on the gaining side against 467 shares on the losing side while 72 shares remained unchanged.

The BSE Sensex opened at 19,339.75; about 49 points higher compared to its previous closing of 19,290.18, and has touched a high of 19,443.48 while low remain its opening.

The index is currently trading at 19,420.49, up by 130.31 points or 0.68%. There were 20 stocks advancing against 10 declines on the index.

The overall market breadth has made a strong start with 67.49% stocks advancing against 28.17% declines. The broader indices were trading in line with benchmarks; the BSE Mid cap and Small cap indices surged 0.49% and 0.80% respectively. 

The top gaining sectoral indices on the BSE were, CD up by 2.06%, IT up by 1.03%, CG up by 0.87%, Realty up by 0.86% and Bankex was up by 0.84%. While there were no losers on the index.

The top gainers on the Sensex were TCS up by 2.05%, Hero Honda up by 1.70%, ONGC up by 0.66%, Jaiprakash Associates up by 1.41% and HDFC was up by 1.25%.

On the flip side, Bharti Airtel down by 1.38%, M&M down by 1.34%, Wipro down by 0.94%, RCom down by 0.50% and Sterlite Industries down by 0.49% were the top losers on the index.

Meanwhile, Government has once again delayed a decision on levying service tax on transport of goods by rail to July 1. The move to defer the levy of tax came after Railway Minister Mamata Banerjee put pressure on the government to waive off service tax as it had done in the previous year. This is the fourth time that the government is postponing a decision on service tax on rail freight which was to be implemented from April 1, 2010.

Earlier in Budget 2009-10, the government had proposed a 10% service tax on goods carried by the railways to provide a level-playing field to transport of goods by road. However, it exempted rail freight from service tax in September 2009. However, in Budget 2010-2011, Pranab Mukherjee announced that the exemption from service tax would be withdrawn.

The service tax attracted an abatement of 70% of the gross value of freight charged on goods (other than exempted goods). This translated to a tax on only 30% of the value of transported goods. The service tax on rail would result in an increase in freight rates between 6-7%, in case the railway decides to pass it on to the consumers. With high food inflation, which has again entered double digits at 10.05% for the week ended March 12, while the overall wholesale price inflation stood at 8.31% in February, this would have further fuelled prices.

The exchequer has already lost around Rs 800 crore in 2010-11 as the finance ministry decided not to levy service tax on transport of goods through rail this fiscal. Service Tax is a form of indirect tax imposed on specified services called 'taxable services'. The objective behind levying service tax is to reduce the degree of intensity of taxation on manufacturing and trade without forcing the government to compromise on the revenue needs. The intention of the government is to gradually increase the list of taxable services until most services fall within the scope of service tax.

The S&P CNX Nifty opened at 5,803.05; about 16 points higher compared to its previous closing of 5,787.65, and has touched a high of 5,830.80 while low remain its opening.

The index is currently trading at 5,823.70, higher by 36.05 points or 0.62%. There were 36 stocks advancing against 14 declines on the index.

The top gainers of the Nifty were TCS up by 2.18%, Hero Honda up by 1.63%, ONGC up by 1.63%, Sesa Goa up by 1.32% and HDFC up by 1.27%.

M&M down by 1.50%, Bharti Airtel down by 1.34%, Wipro down by 1.03%, Sterlite Industries down by 0.64% and Power Grid was down by 0.64%, were the major losers on the index.

Asian markets were trading on a mixed note; Hang Seng was up 22.68 points or 0.10% to 23,474.11, Jakarta Composite was up 15.81 points or 0.43% to 3,656.79, KLSE Composite was up 5.36 points or 0.35% to 1,536.99 and Seoul Composite was up 2.04 points or 0.10% to 2,093.42.

On the flip side, Shanghai Composite was down 28.62 points or 0.97% to 2,927.15, Nikkei 225 was down 26.46 points or 0.27% to 9,682.33, Straits Times was down 1.42 points or 0.05% to 3,093.90 and Taiwan Weighted was down by 23.86 points or 0.28% to 8,622.45.

Glenmark Pharma surges on its arm discovering IND enabling studies of NBE

Glenmark Pharma is currently trading at Rs. 286.00, up by 4.45 points or 1.58% from its previous closing of Rs. 281.55 on the BSE.

The scrip opened at Rs. 284.00 and has touched a high and low of Rs. 290.10 and Rs. 281.55 respectively. So far 94,756 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 389.75 on 07-Dec-2010 and a 52 week low of Rs. 241.60 on 28-Feb-2011.

Last one week high and low of the scrip stood at Rs. 290.10 and Rs. 273.25 respectively. The current market cap of the company is Rs. 7629.78 crore.

The promoters holding in the company stood at 48.32% while Institutions and Non-Institutions held 37.92% and 13.75% respectively.

Glenmark Pharmaceuticals SA (GPSA), a wholly owned subsidiary of Glenmark Pharmaceuticals India has discovered and initiated IND enabling studies of a Novel Biological Entity (NBE) lead candidate, GBR401 and anti-CD19 monoclonal antibody. GBR 401 is developed completely in-house by Glenmark’s Biologics Research Centre located in Switzerland.

The disease areas primarily targeted by GBR 401 are lymphomas and leukemia’s of B-cell origin. Lymphomas are cancers originating from the lymphatic system. Non-Hodgkin’s lymphoma (NHL), a type of B cell lymphoma, is the most common form of blood cancer.

GBR 401 shows great promise to emerge as a valuable therapeutic option to treat patients affected with B-cell malignancies. GBR 401 has demonstrated strong anti-tumour potency and anti-proliferative apoptotic activity in several in-vito and in-vivo studies. CD19 is known to be expressed earlier and more broadly in B-cell development than CD20, the latter being the target of the world’s second largest selling anti-cancer biotech product rituximab whose annual 2010 sales were in excess of $6 billion.

Mahindra Satyam, Cairn, Hindalco and Titan Industries to hog the limelight todayI

In a major setback to Mahindra Satyam, the Andhra Pradesh High Court asked the company to issue bankers' cheques worth Rs 350 crore to the Central Board of Direct Taxes (CBDT). The company was also asked to provide an unconditional bank guarantee worth Rs 267 crore to the tax authorities.

In a blow to Cairn Energy, the government's law officers have held that Edinburgh-based firm needs state-owned ONGC's consent to sell its majority stake in Cairn India to Vedanta Resources.

AV Birla Group's flagship company Hindalco is planning to raise Rs 8000 crores for Aditya Aluminium project. The fund raising is expected to close in Q1FY12. This comes soon after the financial closure of the Mahan project. Hindalco is on a fund raising spree to put all their domestic projects on a fast track.

Indian Oil Corp (IOC) plans to shut a kerosene unit at its Haldia refinery for maintenance from mid-April, prompting the firm to float a rare jet fuel tender.

Tanishq, the jewellery retail chain arm of Titan Industries, under Tata Group, is planning to invest around Rs 150-200 crore for setting up around 15 showrooms in various parts of the country in next fiscal year.

National Aluminium Company (Nalco) is likely to increase the price of the metal by Rs 2,000-3,000 a tonne with effect from April, in sync with firming global prices.

In a bid to increase its footprint, the country's second largest lender HDFC Bank opened 275 branches in the current fiscal taking its total network to 2,000.

Pune-based chemicals maker Deepak Fertilisers and Petrochemicals Corp said on Wednesday it would invest about $350 million to set up a technical ammonium nitrate (TAN) manufacturing unit in Australia, pushing its shares up more than 4%.

Indian Oil Corporation and Engineers India have placed order with Fernas Construction India worth Rs 300 crore for laying of pipelines and composite works for south jetty pipeline project.

Religare Commodities (RCL), a wholly-owned subsidiary of Religare Securities ( RSL ), was awarded the prestigious award for the 'Best Commodity Broker of the Year' at the recently-concluded Bloomberg UTV's Financial Leadership Awards 2011 - The Final Word in Money.

Cognizant, which counts Walmart among its top retail customers, has doubled its revenues from the segment in the last two years, and is set to challenge rivals like TCS, Infosys in increasing business from top retailers in the world.

US listed software firm iGate's open offer for 20.6 per cent in India's Patni Computer Systems will open on April 8 and close on April 27.

Bharti Airtel, Vodafone Essar and Idea Cellular are close to signing an agreement to share their third-generation radio bandwidth.

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Galantamine Tablets USP 4mg, 8mg and 12mg.

Nexxoft Infotel has decided to sell 30% of its stake in Elsoft Technologies at a cost of Rs 20 per share. The company holds a total of 75% stake held in Elsoft Technologies out of which it has decided to sell 30% of its stake.

CARE revises ratings assigned to the bank facilities of Supreme Infrastructure

Credit rating agency, CARE has revised the ratings of Rs 224.75 crore long term bank facilities of Supreme Infrastructure to ‘BBB-‘from ‘BB+’. The rating agency has also revised the ratings of Rs 300 crore short term bank facilities of the company to PR3 from PR4.

The rating revision takes into account the improved financial performance of the company in terms of sales, profitability during FY10 and 9M FY11 and improved leverage position and average collection period in 9M FY11. The ratings continue to factor in the promoters’ long experience in execution of construction contracts, qualified management team, revenue visibility in the medium term, comfortable profitability margins and growth prospects of the infrastructure sector in general.

Supreme Infrastructure is engaged in the construction of highways, roads and bridges and engineering works. It also manufactures crushed metals, ready-mix concrete, asphalt and wet mix macadam

Indian Oil Corp to close the kerosene unit at its Haldia refinery

Indian Oil Corp (IOC) is likely to close the kerosene hydro-desulphurization unit at its Haldia refinery for maintenance from mid-April, prompting the firm to float a rare jet fuel tender. The firm plans to shut the unit at its 150,000 barrels per day coastal plant for a month.

In April and May the state-run firm has floated a tender seeking 29,000 tonnes of jet fuel via three parcels for delivery. It is India's biggest refiner with a capacity to process 1.294 million bpd oil from its 10 refineries.

Recently, IOC considered deferring shutdown of units at some of its refineries to meet local demand. IOC has to re-look at their shutdown plans when Indian fuel demand is rising at a fast face along with international fuel prices, company officials quoted. 

KEC International bags new orders worth Rs 801 crore

KEC International, the flagship company of PRG Group has bagged new orders worth aggregating Rs 801 crore in the areas of Transmission (domestic and international) and cables.
In India, the company has secured three orders from Power Grid Corporation of India (PGCIL) aggregating Rs 224 crore and one order from state utility Aptransco worth Rs 84 crore on Turnkey basis. In International markets, the company has bagged order aggregating worth Rs 386 crore from Saudi Arabia, South Africa, United States and Brazil.
The company has won supply orders for extra high voltage power cables, high tension, low tension and telecom cables from various customers worth Rs 107 crore.
KEC is in the business of manufacture of transmission towers and erection and laying of power transmission lines on an EPC basis. It is a global leader in the power transmission engineering, procurement and construction (EPC) business. The company is one of the largest Power Transmission EPC companies in the world.

Smartlink Network to sell its structured cabling business

Smartlink Network Systems has received its board’s approval for the sale of the structured cabling business comprising of manufacture, sale and marketing of structured cabling products carried on by it, under the brand name - Diglink - hereinafter referred to as the (Digilink Business) to Schneider Electric India.
The Digilink Business together with its respective assets and liabilities shall be transferred to Schneider, as a going concern on a slump sale basis, on a cash free and debt free basis, for a total consideration of Rs 503 crore.
Smartlink Network is engaged in the business of designing, manufacturing and marketing of advanced networking, broadband, digital, voice and data communications solutions. Company caters the global networking and connectivity needs of digital home consumers, small office professionals, small- to medium-sized businesses and enterprise environments.

Titan Industries’ retail chain arm - Tanishq to invest Rs 200 crore in next fiscal year

The jewellery retail chain arm of Titan Industries - Tanishq, is planning to set up around 15 showrooms in various parts of the country with an investment of Rs 150 - 200 crore in the next fiscal year.

The area of proposed showrooms would range from 3,000 sq ft to 20,000 sq ft, including four to five large showrooms spanning total area of over 8,000 sq ft each. The largest of the upcoming outlets would be a 20,000 sq ft showroom in Mumbai.

The company had recently launched its sixth showroom in Chennai, at Chromepet. With launch of the new showroom in Chennai, Tanishq retail chain presently has 123 exclusive boutiques in 76 cities. The new showroom in Chennai, of 4,000 sq ft, would provide a range of traditional Bengali jewellery, wedding jewellery in plain gold, diamonds, polki and kundan. The new showroom would also provide facilities including Karatmeter, a device to measure the purity of gold, for its customers.

Tanishq is a prominent jewellery brand of India and a division of Titan Industries.  It pioneered the concept of branded jewellery and ornaments in India. Tanishq, India’s largest, most trusted and fastest growing jewellery brand, offers traditional as well as trendy designs in gold, diamond and platinum.  

Nalco likely to hike aluminum prices by Rs 2000 - 3000 per tonne

National Aluminium Company (Nalco), second-biggest producer of aluminum is expected to increase the metal prices by Rs 2,000 - 3,000 a tonne with effect from April, in sync with firming global prices.

The price hike was essential to guarantee parity with import prices and to pass on the rise in input costs. Dollar weakness has also contributed to the rise in aluminum prices. At the London Metal Exchange (LME), aluminum is currently hovering at around $2,570 a tonne.

The existing global production of aluminum stands at 39-40 million tonne per annum and demand also stands at around the same level. Meanwhile, some smelters have been closed in China in the recent past leading to firming up of prices. This small demand-supply mismatch is only a temporary phenomenon as with the firming up of the price, the closed smelters have again resumed operation. The company also raised prices in January, but corrected them in the third week of the month itself as the global price slackened. It again raised the price by Rs 6,000 to around Rs 1.21 lakh a tonne in February, but reduced the rate by Rs 2,500 per tonne in March.

Nalco expected to clock an over 23% rise in net profit in the current fiscal to Rs 1,005 crore on higher metal prices. The company, which reported Rs 814.22 crore net profits in FY10, aims to clock Rs 1,098.24 crore net profit next fiscal and Rs 1,252 crore in 2012-13. Nalco, in which the government owns an around 87% stake, also hopes that its net sales will go up by 14.27% to Rs 5,777.31 crore in FY11 against Rs 5,055.66 crore in FY10. 

HDFC Bank expands its branch network

The country's second largest lender HDFC Bank in a bid to increase its footprint has opened 275 branches in the current fiscal taking its total network to 2,000. The bank had a total of 1,780 branches by the end of December 2010 compared to its distribution network of 1,725 branches in 779 cities as on March 2010. About 220 branches were added to the network in the last few months.

Besides having an overseas presence in Hong Kong and Bahrain, the bank’s reach after the opening of new branches has crossed 1,000 cities. As per the annual report for 2009-10, the bank opened over 300 new branches during the year. The bank's focus on semi-urban and under-banked markets continued, with 68 per cent of the bank's branches now outside the top nine Indian cities.

The bank, which has over 1.8 crore customers, acquired Centurion Bank of Punjab leading to the integration of 404 branches in 2008. Recently, HDFC bank has won the 'Best Retail Bank in India' award for the fifth year in a row beating a host of other competitors in Asia Pacific, Middle-East, Central Asia and Africa on a range of parameters.

HDFC Bank has also paid higher advance corporate tax for the fourth quarter. The company has paid Rs 500 crore as advance corporate tax, higher by 66.67% as compared to Rs 300 crore paid during same quarter last year.

ICRA assigns LAAA (Stable) rating to the bank facilities of Power Finance Corporation

Credit rating agency, ICRA has assigned the rating of LAAA with ‘Stable’ outlook to the Rs 31,500 crore (enhanced from Rs 28,000 crore) long term borrowing programme for the financial year 2010-11 of Power Finance Corporation (PFC). The rating agency has an outstanding rating of LAAA with ‘Stable’ outlook on the various outstanding long term bonds and long term bank borrowings, an outstanding rating of MAAA (pronounced M triple A) on the fixed deposits programme and an outstanding rating of A1+ (pronounced A one plus) on the Rs 5,000 crore Commercial Paper / Short Term Debt programme of the corporation.

The highest credit quality ratings assigned by the rating agency continue to reflect the company’s majority sovereign ownership and its strategically important role in the implementation of various Government of India (GoI) schemes for the development of the power sector such as Ultra Mega Power Projects (UMPP’s) and the R-APDRP scheme.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.

Glenmark Pharma’s arm discovers IND enabling studies of NBE

Glenmark Pharmaceuticals SA (GPSA), a wholly owned subsidiary of Glenmark Pharmaceuticals India has discovered and initiated IND enabling studies of a Novel Biological Entity (NBE) lead candidate, GBR401 and anti-CD19 monoclonal antibody. GBR 401 is developed completely in-house by Glenmark’s Biologics Research Centre located in Switzerland.
The disease areas primarily targeted by GBR 401 are lymphomas and leukemia’s of B-cell origin. Lymphomas are cancers originating from the lymphatic system. Non-Hodgkin’s lymphoma (NHL), a type of B cell lymphoma, is the most common form of blood cancer.
GBR 401 shows great promise to emerge as a valuable therapeutic option to treat patients affected with B-cell malignancies. GBR 401 has demonstrated strong anti-tumour potency and anti-proliferative apoptotic activity in several in-vito and in-vivo studies. CD19 is known to be expressed earlier and more broadly in B-cell development than CD20, the latter being the target of the world’s second largest selling anti-cancer biotech product rituximab whose annual 2010 sales were in excess of %6 billion.

Welspun Corp bags orders worth Rs 1,182 crore

Welspun Corp the second largest line pipe company in the world, has won pipe orders worth Rs 1,182 crore (approx 155 KMT) largely from international clients. These new orders are likely to be executed over a period of one year.

With the addition of these orders the current order book of the company stands at Rs 6,153 crore (approximately 932 KMT for pipes and external plate orders of 40 KMT) without excluding the orders being executed in Q4 FY 2011.

The company will continue to open newer avenues and deliver superior customer value and sustain the leadership position in the world markets.

Welspun Corp is engaged in manufacturing of pipes. The company was declared the 2nd largest steel pipe producer in the world (Large Diameter) by Financial Times. The company is among the top 3 SAW pipe company in the world according to CLSA Asia Pacific Market Research.

Welspun Corp has posted a net profit of Rs 146.52 crore for the quarter ended December 31, 2010 whereas the same was at Rs 166.83 crore for the quarter ended December 31, 2009, down 12.17%.

Puravankara Projects launches Purva Midtown Residences

Puravankara Projects launched a new mid segment property which institutes the idea of Smart Living - Purva Midtown Residences in East Bangalore. The total project value is Rs. 135 crore and this launch follows the launch of Purva Windermere, a luxury project in Chennai.
This property comprises a total of 307 apartments which is centrally located off Old Madras Road, near C.V. Raman Nagar on a 4.2 acre land parcel. The mix of 2 and 3 bedroom apartments are ranging from 1208 sq. ft. to 1677 sq. ft. and are the epitome of comfort, convenience with an elegance attached to it. These apartments have been designed keeping in mind the double income working population of Bangalore.
Recently, Puravankara Projects has launched a new luxury property - Purva Oceana - in the most premium location on Marine Drive, Kochi. Purva Oceana which is strategically timing the launch closer to completion will be ready for occupation shortly. Purva Oceana, a 12 storied building, with 2 levels of parking, is located on the picturesque Marine Drive waterfront overlooking the Bolgatty Palace and the Marina.
Since inception in 1975, Puravankara has one mantra for success, part from this, values like uncompromising business ethos, focused customer centric approach, robust engineering, in house Research and Development has created the leading real estate brand

Ruchi Strips & Alloys completes its slump sale of the steel business

Ruchi Strips & Alloys has transferred its steel business as a going concern to its wholly owned subsidiary - RSAL Steel. The result of slump sale of the steel business was declared on March 05, 2011 following the ordinary resolution passed through postal ballot.

The key benefit envisaged from the hiving off the steel division is to enhance the potential to raise further funds and attract an investor for the growth of business and/or combining with a larger entity/strategic partner.

Ruchi Strips manufactures cold rolled full hard (CRFH) coils as per international standards, suitable for manufacturing of galvanized sheets of different applications. Cold rolled closed annealed steel (CRCA) coils & sheets of international standards, suitable for automobile application.  

Gloster Jute Godown Mill in Bauria reports fire incident

Gloster has reported an incident of fire at one of its Jute Godown Mill at Bauria in West Bengal on March 29, 2011 causing damage to raw material stock and the godown. The fire came under control in the early morning on March 30, 2011 but fire fighting is under way.
The company has further informed that the operations of mill are not disturbed and work is going on normally. The extent of damage/loss is yet to be ascertained and company has adequate coverage of insurance for the properties/ stock.
Gloster is a professionally managed company engaged in the manufacture of jute and allied products. The company presently has two business units along with one Captive Power Plant (CPP) which is used as standby situated in the district of Howrah.

Titan Industries shine on its retail arm planning to invest Rs 200 crore in next fiscal year

Titan Industries is currently trading at Rs 3,875.50, up by 32.50 points or 0.85% from its previous closing of Rs 3,843.00 on the BSE.

The scrip opened at Rs 3,850.00 and has touched a high and low of Rs 3,953.95 and Rs 3,836.35 respectively. So far 1,06,833 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 4,244.00 on 11-Nov-2010 and a 52 week low of Rs 1,827.25 on 31-Mar-2010.

Last one week high and low of the scrip stood at Rs 3,953.95 and Rs 3,492.00 respectively. The current market cap of the company is Rs 17302.95 crore.

The promoters holding in the company stood at 53.41% while Institutions and Non-Institutions held 19.00% and 27.58% respectively.

The jewellery retail chain arm of Titan Industries - Tanishq, is planning to set up around 15 showrooms in various parts of the country with an investment of Rs 150 - 200 crore in the next fiscal year.

The area of proposed showrooms would range from 3,000 sq ft to 20,000 sq ft, including four to five large showrooms spanning total area of over 8,000 sq ft each. The largest of the upcoming outlets would be a 20,000 sq ft showroom in Mumbai.

The company had recently launched its sixth showroom in Chennai, at Chromepet. With launch of the new showroom in Chennai, Tanishq retail chain presently has 123 exclusive boutiques in 76 cities. The new showroom in Chennai, of 4,000 sq ft, would provide a range of traditional Bengali jewellery, wedding jewellery in plain gold, diamonds, polki and kundan. The new showroom would also provide facilities including Karatmeter, a device to measure the purity of gold, for its customers.

Tanishq is a prominent jewellery brand of India and a division of Titan Industries.  It pioneered the concept of branded jewellery and ornaments in India. Tanishq, India’s largest, most trusted and fastest growing jewellery brand, offers traditional as well as trendy designs in gold, diamond and platinum. 

KEC International soars on bagging new orders worth Rs 801 crore

KEC International is currently trading at Rs 84.80, up by 3.70 points or 4.56% from its previous closing of Rs 81.10 on the BSE.

The scrip opened at Rs 83.00 and has touched a high and low of Rs 86.25 and Rs 80.60 respectively. So far 2,62,242 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 123.40 on 30-Jul-2010 and a 52 week low of Rs 70.30 on 22-Mar-2011.

Last one week high and low of the scrip stood at Rs 86.25 and Rs 74.20 respectively. The current market cap of the company is Rs 2108.12 crore.

The promoters holding in the company stood at 41.65% while Institutions and Non-Institutions held 43.13% and 15.22% respectively.

KEC International, the flagship company of PRG Group has bagged new orders worth aggregating Rs 801 crore in the areas of Transmission (domestic and international) and cables.

In India, the company has secured three orders from Power Grid Corporation of India (PGCIL) aggregating Rs 224 crore and one order from state utility Aptransco worth Rs 84 crore on Turnkey basis. In International markets, the company has bagged order aggregating worth Rs 386 crore from Saudi Arabia, South Africa, United States and Brazil.

The company has won supply orders for extra high voltage power cables, high tension, low tension and telecom cables from various customers worth Rs 107 crore.

KEC is in the business of manufacture of transmission towers and erection and laying of power transmission lines on an EPC basis. It is a global leader in the power transmission engineering, procurement and construction (EPC) business. The company is one of the largest Power Transmission EPC companies in the world.

Smartlink Network makes new high on getting nod to sell its structured cabling business

Smartlink Network Systems is currently trading at Rs 83.75, up by 5.45 points or 6.96% from its previous closing of Rs 78.30 on the BSE.
The scrip opened at Rs 80.30 and has touched a high and low of Rs 93.95 and Rs 76.00 respectively. So far 2294949 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 93.95 on 31-Mar-2011 and a 52 week low of Rs 40.50 on 31-Mar-2010.
Last one week high and low of the scrip stood at Rs 93.95 and Rs 65.00 respectively. The current market cap of the company is Rs 249.94 crore.
The promoters holding in the company stood at 67.33% while Institutions and Non-Institutions held 0.02% and 32.65% respectively. Smartlink Network Systems has received its board’s approval for the sale of the structured cabling business comprising of manufacture, sale and marketing of structured cabling products carried on by it, under the brand name - Diglink - hereinafter referred to as the (Digilink Business) to Schneider Electric India.
The Digilink Business together with its respective assets and liabilities shall be transferred to Schneider, as a going concern on a slump sale basis, on a cash free and debt free basis, for a total consideration of Rs 503 crore.
Smartlink Network is engaged in the business of designing, manufacturing and marketing of advanced networking, broadband, digital, voice and data communications solutions. Company caters the global networking and connectivity needs of digital home consumers, small office professionals, small- to medium-sized businesses and enterprise environments

HDFC Bank rises on expanding its branch network

HDFC Bank is currently trading at Rs 2,360.00, up by 22.15 points or 0.95% from its previous closing of Rs 2,337.85 on the BSE.

The scrip opened at Rs 2,345.00 and has touched a high and low of Rs 2,370.00 and Rs 2,345.00 respectively. So far 10,535 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 2,518.00 on 04-Oct-2010 and a 52 week low of Rs 1,785.00 on 25-May-2010.

Last one week high and low of the scrip stood at Rs 2,370.00 and Rs 2,197.00 respectively. The current market cap of the company is Rs 110188.70 crore.

The promoters holding in the company stood at 23.40% while Institutions and Non-Institutions held 40.23% and 18.90% respectively.

The country's second largest lender HDFC Bank in a bid to increase its footprint has opened 275 branches in the current fiscal taking its total network to 2,000. The bank had a total of 1,780 branches by the end of December 2010 compared to its distribution network of 1,725 branches in 779 cities as on March 2010. About 220 branches were added to the network in the last few months.

Besides having an overseas presence in Hong Kong and Bahrain, the bank’s reach after the opening of new branches has crossed 1,000 cities. As per the annual report for 2009-10, the bank opened over 300 new branches during the year. The bank's focus on semi-urban and under-banked markets continued, with 68 per cent of the bank's branches now outside the top nine Indian cities.

The bank, which has over 1.8 crore customers, acquired Centurion Bank of Punjab leading to the integration of 404 branches in 2008. Recently, HDFC bank has won the 'Best Retail Bank in India' award for the fifth year in a row beating a host of other competitors in Asia Pacific, Middle-East, Central Asia and Africa on a range of parameters.

HDFC Bank has also paid higher advance corporate tax for the fourth quarter. The company has paid Rs 500 crore as advance corporate tax, higher by 66.67% as compared to Rs 300 crore paid during same quarter last year.

Welspun Corp zooms on bagging orders worth Rs 1,182 crore

Welspun Corp is currently trading at Rs 204.20, up by 6.00 points or 3.03% from its previous closing of Rs 198.20 on the BSE.
The scrip opened at Rs 204.90 and has touched a high and low of Rs 212.40 and Rs 202.10 respectively. So far 177357 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 295.70 on 07-Apr-2010 and a 52 week low of Rs 144.35 on 18-Jan-2011.
Last one week high and low of the scrip stood at Rs 212.40 and Rs 196.00 respectively. The current market cap of the company is Rs 4228.46 crore.
The promoters holding in the company stood at 41.08% while Institutions and Non-Institutions held 32.75% and 26.17% respectively. Welspun Corp the second largest line pipe company in the world, has won pipe orders worth Rs 1,182 crore (approx 155 KMT) largely from international clients. These new orders are likely to be executed over a period of one year.
With the addition of these orders the current order book of the company stands at Rs 6,153 crore (approximately 932 KMT for pipes and external plate orders of 40 KMT) without excluding the orders being executed in Q4 FY 2011.
The company will continue to open newer avenues and deliver superior customer value and sustain the leadership position in the world markets.
Welspun Corp is engaged in manufacturing of pipes. The company was declared the 2nd largest steel pipe producer in the world (Large Diameter) by Financial Times. The company is among the top 3 SAW pipe company in the world according to CLSA Asia Pacific Market Research.

Puravankara Projects gain on launching Purva Midtown Residences

Puravankara Projects is currently trading at Rs. 111.00, up by 0.40 points or 0.36% from its previous closing of Rs. 110.60 on the BSE.

The scrip opened at Rs. 111.00 and has touched a high and low of Rs. 113.00 and Rs. 110.55 respectively. So far 2,703 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 145.25 on 27-Sep-2010 and a 52 week low of Rs. 76.40 on 01-Jun-2010.

Last one week high and low of the scrip stood at Rs. 118.80 and Rs. 101.25 respectively. The current market cap of the company is Rs. 2397.82 crore.

The promoters holding in the company stood at 89.96% while Institutions and Non-Institutions held 8.46% and 1.57% respectively.

Puravankara Projects launched a new mid segment property which institutes the idea of Smart Living - Purva Midtown Residences in East Bangalore. The total project value is Rs. 135 crore and this launch follows the launch of Purva Windermere, a luxury project in Chennai.

This property comprises a total of 307 apartments which is centrally located off Old Madras Road, near C.V. Raman Nagar on a 4.2 acre land parcel. The mix of 2 and 3 bedroom apartments are ranging from 1208 sq. ft. to 1677 sq. ft. and are the epitome of comfort, convenience with an elegance attached to it. These apartments have been designed keeping in mind the double income working population of Bangalore.

Recently, Puravankara Projects has launched a new luxury property - Purva Oceana - in the most premium location on Marine Drive, Kochi. Purva Oceana which is strategically timing the launch closer to completion will be ready for occupation shortly. Purva Oceana, a 12 storied building, with 2 levels of parking, is located on the picturesque Marine Drive waterfront overlooking the Bolgatty Palace and the Marina.

Since inception in 1975, Puravankara has one mantra for success, part from this, values like uncompromising business ethos, focused customer centric approach, robust engineering, in house Research and Development has created the leading real estate brand. 

Deepak Fertilisers gains on establishing its global foot print

Deepak Fertilisers & Petrochemicals is currently trading at Rs. 165.60, up by 6.95 points or 4.38% from its previous closing of Rs. 158.65 on the BSE.

The scrip opened at Rs. 162.00 and has touched a high and low of Rs. 167.80 and Rs. 161.00 respectively. So far 56,486 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 212.40 on 03-Nov-2010 and a 52 week low of Rs. 102.15 on 25-May-2010.

Last one week high and low of the scrip stood at Rs. 167.80 and Rs. 152.10 respectively. The current market cap of the company is Rs. 1402.02 crore.

The promoters holding in the company stood at 42.61% while Institutions and Non-Institutions held 21.14% and 36.25% respectively.

Deepak Fertilisers & Petrochemicals Corporation (DFPCL) proposing to “go global” is accordingly working  towards setting up 300 kpta TAN plant is South Australia in the State of Australia to enable the state to realize its ambitious growth plans in resource (minning) and infrastructure sectors. This would be first such plant in SA and will provide cost-effective TAN supplies primarily to local end users. Beyond supplies, the company will also bring in deep knowledge base of products application engineering in mines.

The government of SA has indentified a potentially suitable site for the project, which will be the subject for further feasibility study. The site is close to a deep sea port and nearby city having a long established industrial history with complete infrastructure, skilled workforce etc, thereby providing the project with a more favorable cost competitive construction and operating environment compared to many parts of Australia.

This positive step from the government of SA will enable the company to proceed with the Detailed Feasibility Report (DFR), Environment Impact Assessment (EIA) study and other statutory clearance in the course of next 12-15months and the project will be completed 24 months thereafter. The estimated cost of the projects is around $350 million. While the project is expected to bring in significant socio-economic benefits to the region, the SA state and Australia as a nation, it will enable DFPCL to establish a global foot prints.