Dawn of the Stocks: Be Cautious !!!

Monday, April 12, 2010

Be Cautious !!!

On last trading session Buying in Banking, Auto and Capital goods stocks led Indian indices to trade positive through out the day.

The US market has closed in green on friday,The Dow jones closed at 10997.35, Up by 70.28 points, The Nasdaq ended at 2454.05, Up by 17.24 points, The S&P 500 closed at 1194.37, Up by 7.93 points from its previous close.

Market may open higher on the back of strong global cues.

The Sensex ended at 17933.14, Up by 218.74 points, The Nifty closed at 5361.75, Up by 57.30 points from its previous close.

Some result season will commence soon, So market should be attention on that.

Nifty has Strong Resistance Zone around 5390-5405, Selling pressure is expected in this range. Traders suggested to book profit at higher levels or keep strict stop losses. While Nifty has support around 5335-5325 levels, If Nifty break this support level with volume then it might touch 5290-5275 levels.

Stock for Watch:

AMAR RAJA BA: Stock can touch 195-200 in near term.

ALKALI: Chart Showing tgt 145 and if crosses 146.-147 with volume then it will touch 160 in near term.

ADHUNIK MET: Resistance aroung 133 level If Cross this level with volume then Stock may Blast.

ACC LTD.: High Risk Buy around 955-957 with sl 949 for tgt 975-980.

Petronet: Looking good on chart it can touch 90+ in near term, Buy call given at 83 level.

Also watch: BHEL, Blue Star, Brand House, Cairn, CESC ltd., Havells,

1 comment:

Kiran DhageApril 12, 2010 at 12:09 AM
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News for the Day 30/04/10

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News for the Day 27/04/10

Crude oil price is trading at 83.64 dollars a barrel
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News for the Day 26/04/10

Japanese stocks rise on US home sales
Japanese stocks rose after a surge in US new home sales and a weakening yen boosted the earnings prospects for businesses reliant on overseas demand.

Eid Parry buys majority stake in GMR Ind
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News for the Day 23/04/10

Greece may seek bridge loan: Official
Greece is prepared to ask euro-region governments for a bridge loan as $11.3 billion in bonds come due next month and borrowing costs surge to the highest since 1998, a Greek government official said.

US stocks rise on banking shares
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UK stock market Europe's best
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Japanese Stocks heads to weekly decline
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News for the Day 22/04/10

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UK mkts retreat; BHP Billiton leads drop
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News for the Day 21/04/10

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UK stocks climbed for the first time in three days after SABMiller Plc reported better-than- estimated sales and Associated British Foods Plc posted a surge in first-half profit.SABMiller, the maker of the Grolsch and Peroni beer brands, soared to a record high. AB Foods, the owner of Primark stores, rose by the highest level since at least 1986. Antofagasta Plc and Cairn Energy Plc led commodity shares higher as copper advanced from a three-week low and oil rebounded.

RBI maintains pro-growth stance....
Reserve Bank of India (RBI) today maintained its pro-growth stance, and, at the same time, hiked rates to check rising inflation....The central bank hiked short-term lending and borrowing rates and the portion of money banks deposit with it by 0.25% each in a move aimed at controlling the inflation spiral without choking growth.The apex bank hiked its repo, reverse repo (overnight lending and borrowing rates) to 5.25% and 3.75%, respectively, while the cash reserve ratio (CRR), or the portion of deposits banks park with RBI, to 6% in line with analysts' expectations.The hike in CRR, which will come into effect from April 24, will absorb Rs 12,500 crore cash from the banking system. Banks have already indicated that they may not pass on the increased cost to the borrowers immediately as liquidity still remains sufficient in the system.

News for the Day 16/04/10

US mkts advance over optimism on earning
US stocks rose, sending the Standard & Poor's 500 Index toward its longest weekly winning streak since 2007, as optimism that earnings and the economy are growing overshadowed an unexpected increase in jobless claims.

UK stocks erase advance
UK stocks erased gains, with the FTSE 100 Index little changed at 5,792.86 as of 9:57 am in London.

HDFC launches dual rate product 2.0
Housing finance major HDFC today lowered its home loan rate to 8.25% for the first year in its new dual rate scheme, commonly known as teaser loans, applicable on fresh loans.Under the scheme, the country's biggest mortgage provider would offer a fixed rate of 8.25% up to March 2011, then 9% for the next one year and the prevailing floating rate for the remainder of the loan tenure."This is a flexible product with dual rates. The fixed rates are applicable for all new loans irrespective of the loan amount," HDFC said in a statement.

News for the Day 15/04/10

China economy grows 11.9%
China's economic growth accelerated to the fastest pace in almost three years in the first quarter, adding pressure on Premier Wen Jiabao to sever the yuan's peg to the dollar and raise interest rates.

UK stocks advance to 22-month high
UK stocks climbed to 22-month high as Intel Corp.'s sales forecast and JPMorgan Chase & Co.'s earnings beat analysts' estimates and BT Group Plc rallied the most in seven months.

Asian stocks rise on earning hopes
Asian stocks rose, driving the MSCI Asia Pacific Index to a 20-month high, as US earnings reports from JPMorgan Chase & Co. to United Parcel Service Inc. bolstered confidence in the global economy.

News for the Day 13/04/10

Dow above 11,000 for first time since 08
US stocks rallied, giving the Dow Jones Industrial Average its first close above 11,000 since September 2008, as takeovers and a $61 billion rescue for Greece bolstered equities before Alcoa Inc. starts the first-quarter earnings season.

UK stocks advance
UK stocks gained for a second day as a rally among retail companies overshadowed declines at raw- material producers.

Oil trades near $84
Oil traded near $84 a barrel in New York after falling on a forecast of an 11th consecutive weekly gain in US crude supplies, signaling fuel demand in the world's biggest energy consumer may be slow to recover.Oil declined for a fourth day yesterday as analysts predicted U.S. inventories of crude oil probably rose 1.15 million barrels as imports climbed, according to a Bloomberg News survey. It would be the longest stretch of increases in five years. The Energy Department is scheduled to release its weekly report at 10:30 a.m. tomorrow in Washington.

Status quo to be maintained on ULIPs: FM
Finance Minister Pranab Mukherjee today said the chairman of Securities & Exchange Board of India (Sebi) and the chairman of Insurance Regulatory Authority of India (IRDA) have agreed to jointly seek binding legal mandate on jurisdiction.The statement came over the controversy on unit-linked insurance plans (ULIPs) when Sebi, late last Friday, banned 14 insurers from selling the products.IRDA, on Saturday, asked insurers to ignore the ban and continue with the sales of the products. The Finance Minister's statement makes it clear that insurance companies can go ahead and sell the products...

News for the Day 12/04/10

Japanese stocks rise on US economy, Euro
Japanese stocks rose for a second day after metal prices gained, US wholesale inventories climbed and the stronger euro boosted the earnings prospects for electronics makers.

ULIP spat unlikely to impact equity mkt
The turf war between two sectoral regulators SEBI and IRDA over equity-linked insurance scheme (ULIPs) is unlikely to impact the stock market in a big way even as insurance companies would not hardsell the products, analysts said."There will not be any big impact on markets due to this controversy as April is considered as lean month for insurance companies," Bonanza Portfolio Vice President (Equities) R L Narayanan said.ULIPs -- one of the most common insurance plans sold by life insurers, where the money collected from consumers is invested into equity and debt markets and returns are linked to the same -- have become a bone of contention between the two financial sector regulators, with both claiming authority to regulate these schemes.On Friday, capital markets regulator SEBI had banned 14 life insurance companies from selling ULIPs, without its approval. The companies which come under the ban include Reliance Life, SBI Life, ICICI Prudential, Tata AIG and HDFC Standard Life,

3G autions: Top bid at Rs 4,085 cr
Bidding for the high speed spectrum or 3G will re-start on Monday after two days of the auction. The second day for 3G bids closed on Saturday. Bloomberg UTV has learnt that on Day 2, after 5 rounds of bidding, the bid for pan India closed at Rs 4085 cr. No excess bidding took place for the Maharashtra, Tamil Nadu and Karnataka circles. The Delhi circle closes at Rs 392 cr.

News for the Day 09/04/10

US stokcs halt global slide
US stocks halted a global slide as retailers rallied on better than estimated sales, while the euro reversed losses against the dollar as concern over a Greek default subsided. Treasuries fell after a $13 billion auction of 30-year bonds.

UK stocks retreat, led by Xstrata, BP
UK stocks fell the most in more than a month, led by commodity producers, as weaker metals and crude oil prices dragged down raw-material companies and speculation mounted the planned bailout of Greece will unravel.

Japanese stoks rise on US retail sales
Japanese stocks rose after US retail sales jumped in March, raising speculation consumer spending will help sustain the economic recovery.

Sail gets Cabinet nod For Diverstment
After disinvesting stake in the country's largest mining company NMDC, the union cabinet today approved a proposal for disinvesting stake in the country's largest steel producer - Steel Authority of India (SAIL).The government has decided to sell 20% stake of SAIL in two phases through a follow-on public offer.

News for the Day 08/04/10

Us mkts fall on consumer credit concern
US stocks tumbled, with benchmark indexes slumping the most since February, as a bigger-than- estimated decrease in consumer credit and concern Greece may default fueled concern the economic rebound may slow.

Asian stocks fall on US credit data
Asian stocks fell for the first time in six days, led by mining companies and automakers, after consumer credit declined more than expected in the US and the yen strengthened.

Oil drops a second day
Oil declined for a second day after a government report showed a bigger-than-forecast inventory gain in the US, the world's largest energy consumer.Oil dropped for the first time in seven days yesterday as the Energy Department said crude supplies rose 1.98 million barrels to 356.2 million last week. Stockpiles were expected to climb by 1.35 million barrels, according to a Bloomberg News analyst survey. Imports gained 5.5% to 9.56 million barrels a day, the most since September. Refineries operated at the highest rate since October.

UNITED Spirits logs 100 million cases
Vijay Mallya-led UB Group today said it has become the world's second largest liquor maker after Diageo with sales of over 100 million cases in the last 12 months and is certain to be the number one by next fiscal.In the process, group firm United Spirits has overtaken France's Pernod Ricard, Mallya told reporters, adding the company has set its eyes on the number one spot.

News for the Day 07/04/10

Crude oil is trading near $87/ bbl. Gold price is around $1133/ ounce.

Most US stocks rally on Fed plans
Most US stocks rose, led by banks, as investors bet that the Federal Reserve will keep its benchmark interest rate at a record low to safeguard the economic recovery and lenders rallied on analyst upgrades.

Asian stocks rise on Fed rate optimism
Asian stocks gained, driving the MSCI Asia Pacific Index higher for the fifth straight day, as investors bet the Federal Reserve will leave the benchmark US interest rate at a record low.

News for the day 31/03/10

Crude Oil trades above $82
Crude oil traded above $82 a barrel after rising on signs of increasing global economic growth and as an industry-funded report showed fuel-product supplies declined in the US, the world's biggest energy consumer.
Oil climbed as much as 0.7% yesterday as the Conference Board reported that U.S. consumer confidence in March rose more than analysts' forecasts. Japan's Tankan survey of business sentiment may show its fourth straight quarter of improvement tomorrow. U.S. fuel stockpiles dropped last week, according to the American Petroleum Institute.

US stocks rise on economic data
US stocks rose as an improved outlook for industrial companies and better-than-estimated data on consumer confidence and home prices overshadowed concern government deficits will derail the economic recovery. 3M Co. rallied 3.6% as Morgan Stanley said profit may top estimates after Danaher Corp. boosted its earnings forecast, sending the maker of Craftsman tools up 4.5%. Home Depot Inc. and Lowe's Cos. climbed as the S&P/Case-Shiller index of home prices in 20 U.S. cities and the Conference Board's confidence gauge topped economists' estimates.

Asian stocks drop on Valuation concern
Most Asian stocks declined amid concerns a rally that took the MSCI Asia Pacific Index to a 10- week high yesterday had overvalued earnings prospects.

News for the Day 30/03/10

Oil advances after rising on weak dollar
Crude oil climbed for a second day after rising as the dollar fell on European Union plans to help Greece and amid signals that economic growth may accelerate.Oil gained the most in more than five weeks as the dollar dropped against the euro and consumer spending in the US climbed in February for a fifth month. Employers probably added jobs this month for the second time in more than two years, according to economists surveyed before an April 2 report. The Energy Department may say tomorrow US fuel-product stockpiles declined last week, a Bloomberg News survey shows.

Asian Stoks rise on growth optimism
Asian stocks rose, driving the MSCI Asia Pacific Index to its highest level in 10 weeks, after US consumer spending increased for a fifth month and European confidence in the economic outlook improved.Canon Inc. and Samsung Electronics Co., which both get more than 20% of sales in the Americas, gained at least 1%. Mitsubishi Corp., Japan’s largest commodities trader, and BHP Billiton Ltd., the world’s No. 1 mining company, rose more than 1% after oil and metal prices climbed. Kobe Steel Ltd., a Japanese steelmaker, climbed 3.1% after narrowing its full-year loss forecast.

UK stocks erase gains
UK stocks erased gains as a sell off in Whitbread, Royal Bank of Scotland Group and Burberry Group countered a rally in mining companies.The benchmark FTSE 100 Index lost 3.51, or 0.1%, to 5,699.51 at 1:00 p.m. in London, having gained as much as 0.5% earlier.

News for the Day 29/03/10

Nikkei opens lower

Japanese share prices opened lower today, with the benchmark Nikkei-225 index falling 86.93 points, or 0.79%, to 10,909.44 in the first minutes of trading.

Japan retail sales rise at fast pace

Japan's retail sales gained at the fastest pace in more than a decade in February as the economic recovery spread to households.

Sales rose 4.2% from a year earlier, the Trade Ministry said today in Tokyo. That was the biggest monthly jump since March 1997, when they advanced 12.4%, according to Bloomberg data. The median estimate of 12 economists surveyed was for a 1.6% climb.

An export-fueled recovery and government stimulus spending are beginning to create jobs and support wages, improving prospects for companies including Dydo Drinco Inc. A turnaround in employment will continue to support consumer spending, according to economist Julian Jessop.

"Even though the boost will fade, you're still going to get a lasting positive impact" from the stimulus, Jessop, chief international economist at Capital Economics Ltd. in London, said before the report.

China tightens lending rules

China's banking regulator ordered lenders to take more care when making real-estate loans, widening efforts to prevent property speculators from causing asset bubbles and bad debt.Banks should not lend to developers found by state agencies to have held land without building houses, the government said in a statement posted online late on March 26. They should also stop approving new lines of credit to 78 government-controlled companies whose core business isn't property development if they use collateral other than construction projects already in progress, according to the statement.

News for the Day 26/03/10

US stocks fall on treasury auction
US stocks fell for a second day as a disappointing Treasury auction and discord among European leaders about how to rescue Greece erased a rally in the final half hour of the session. The 10-year note's yield climbed to the highest level since June, and the dollar rallied.

Oil is steday as equity markets gain
rude oil was little changed as equity markets advanced, bolstering optimism the economy will continue to grow, and as the dollar gained versus the euro, reducing the appeal of commodities as an alternative investment.

News for the Day 25/03/10

US stocks fall on European debt concern
US stocks fell, pulling benchmark indexes down from 18 month highs, on concern government deficits will hamper a global recovery as Fitch Ratings cut Portugal's credit rating and a UBS AG economist said Greece will default.Procter & Gamble Co., the world's biggest consumer-products maker, and Chevron Corp., the second-largest U.S. energy company, helped lead the Dow Jones Industrial Average lower. General Mills Inc. slid 1.9% after the maker of Lucky Charms cereal forecast earnings that disappointed investors. Equities extended declines as an auction of five-year Treasury notes sold at a lower-than-forecast price, pushing yields higher.

Oil falls on bigger-than-forecast supply
Crude oil fell after a government report showed a bigger-than-forecast increase in US supplies and the dollar surged to a 10-month high against the euro.Stockpiles rose 7.25 million barrels to 351.3 million last week, the Energy Department said. That was more than four times what was estimated in a Bloomberg News survey. The greenback strengthened after Fitch Ratings cut Portugal's credit grade. A strong dollar curbs the appeal of commodities to investors.

Zain board clears asset sale to Bharti
Bharti Airtel is one step closer to an agreement to acquire Kuwaiti telecom operator Zain's African assets for $9 billion.The board of Zain has approved the sale of most of its African assets to Bharti Airtel, sources said on Wednesday.

News for the Day 22/03/10

Crude oil & Gold
Crude oil is trading around $80.14/ bbl. Gold is at around $1106.20/ ounce.

Airtell ties up &8.3 bn debt for Zain deal
Bharti Airtel today announced tying up of $8.3 billion debt for the proposed acquisition of the Kuwait-based Zain Telecom's African unit. "The financing was over-subscribed with major international banks committing to underwrite the total amount," the company said in a statement here.

RBI begins battle to contain inflation
Reserve Bank of India Governor Duvvuri Subbarao may add to his first interest rate increase since the end of the global recession after falling in danger of being judged too slow to contain accelerating consumer prices.The next move may come as soon as next month, according to Morgan Stanley and IHS Global Insight. The Reserve Bank of India boosted the benchmark reverse repurchase rate to 3.5% from a record-low 3.25% and the repurchase rate to 5% from 4.75% on March 19, saying curbing inflation has become "imperative."The announcement followed Nomura Holdings Inc. saying the RBI was "behind the curve" after inflation hit a 16-month high and exceeded the rate in all other Group of Twenty economies. Stocks may tumble today as investors anticipate higher borrowing costs, with the benchmark Sensitive Index at risk of a 200-point drop, according CNI Research (India) Ltd. in Mumbai.

Asian stocks drop over stimulus concern
Asian stocks fell after an International Monetary Fund official said advanced economies face "acute" challenges tackling public debt and on concern central banks in Asia may step up efforts to curb inflation.BHP Billiton Ltd., the world's largest mining company, fell 1.4% in Sydney as commodity prices slumped after India's central bank unexpectedly raised interest rates last week. Rio Tinto Group, the third-biggest, dropped 1.2%. Newcrest Mining Ltd. lost 1.1% in Sydney after gold prices tumbled the most in six weeks in New York on March 19. Posco, Asia's biggest maker of stainless steel, declined 1.5% in Seoul on speculation global demand will slow.

Newsh for the Day 19/03/10

Oil falls a second day on declining US d

Crude oil dropped for a second day in New York amid concern fuel demand in the US, the world's biggest energy consumer, was slipping and as a firmer dollar damped the investment appeal of commodities.

Oil traded below $82 a barrel after the dollar gained against the euro on speculation Greece may fail to secure financial assistance from the European Union. Commercially held U.S. crude inventories rose last week to the highest since August, the Energy Department said March 17.

Asian stocks rise after US jobless data

Asian stocks rose, driving the MSCI Asia Pacific Index toward a fourth weekly advance, after U.S. jobs and manufacturing reports boosted confidence in a global economic recovery.

News for the Day 17/03/10

US stocks rise as Fed to Keep rates low

US stocks rose, with the Standard & Poor's 500 Index reaching a 17-month high, as the Federal Reserve said it will leave its main interest rate near zero for an extended period to safeguard the economic recovery.

Fed to Keep rate low for extended period
Federal Reserve officials repeated their pledge to keep the main interest rate near zero for an "extended period" and confirmed that emergency measures to prop up the housing market will end as planned this month.

News for the Day 16/03/10

US stocks gain as financials trim loss

US stocks erased losses in the final hour as financial shares reversed declines, while consumer companies rallied on an analyst upgrade of Wal-Mart Stores Inc. and PepsiCo Inc.'s plan to return more money to investors.

Jet Airways may fly high as passenger traffic increases

Jet Airways India posted a nearly 31% growth in international passenger traffic, while domestic passenger traffic grew 22% in February 2010 over February 2009. Passenger traffic at Jet Airways rose for the fifth straight month in February as the economic recovery helped drive traffic growth, it said in a statement. The airline, which operates 89 aircraft and flies to 61 destinations globally, will be launching new flights to Saudi Arabia and South Africa in the next 30 days.

Shree Cement has commissioned its 1.8 million tonne per annum (MTPA) clinker-grinding unit in Haridwar district of Uttarakhand state.

News for the Day 12/03/10

US STOCKS gain as S&P 500 rallies

US stocks rose, sending the Standard & Poor's 500 Index to the highest level since October 2008, as Citigroup Inc. led a bank rally and investors speculated that health-care reform will be harder to pass.

JPMorgan, Citigroup Helped Cause Lehman Collapse,Report says

JPMorgan Chase & Co. and Citigroup Inc. helped cause the failure of Lehman Brothers Holdings Inc. by demanding more collateral and changing guarantee agreements, according to a court-ordered report on the biggest bankruptcy in U.S. history.

News for The Day 11/03/10

Nifty futures will be traded on the CME

National Stock Exchange (NSE) has signed a cross-listing pact with the Chicago Mercantile Exchange. Nifty futures will be traded on the CME, while the Dow Jones and S&P 500 futures will be traded on the NSE. The move is a step towards alignment to global markets.

UK stocks climb to 21 month high

UK stocks rose, pushing the FTSE 100 Index to the highest level in almost 21 months, as Royal Bank of Scotland Group Plc gained and inter-dealer brokers ICAP Plc and Tullett Prebon Plc rallied.

Oil trades below $82

Crude oil traded below $82 a barrel after rising on a government report that showed US fuel supplies declined, adding to signs of demand recovery in the biggest energy-consuming nation.

Oil rose to an eight-week high yesterday as gasoline inventories dropped 2.96 million barrels last week, the Energy Information Administration said. Crude stockpiles increased 1.4 million barrels compared with a Bloomberg News survey forecast of a 2 million-barrel gain. Prices also gained as total Chinese exports climbed 46% in February.

News for the Day 10/03/10

Asian Stocks Fluctuate as Oil, Cargo Rates Drop; Telstra Gains

Asian Stocks fluctuated as shipping lines declined after a measure of cargo-transport-rates fell, while Australia’s largest telephone company rose on speculation it will avoid a forced break-up.

Oil trades near $81

Oil traded near $81 a barrel after falling as the dollar strengthened and an industry-funded report showed an increase in US crude supplies, fanning concern that demand in the world's biggest energy user is slow to recover.

US stocks advance amid optimism

US stocks rose on the anniversary of the 2009 bear-market low for the Standard & Poor's 500 Index amid speculation the economy will continue to recover from the worst contraction since the Great Depression.

News for the Day 09/03/10

SBI Bill reintroduced to pare govt holding to 51%. The Bill will reduce the Centre's shareholding in the bank from the current level of 55 % to 51 % in sync with the minimum threshold for other banks. Without the Bill, the bank can raise resources only through rights issue. Post the passage of the Bill, SBI plans to raise Rs 10,000 -15,000 crore in 2010-11, out of the Rs 40,000 crore it plans to raise within next three years.

Reliance MediaWorks ups Fame open offer quantity by one lakh more shares to 2.17 crore, representing 52.72% in the multiplex operator.

IL&FS Transportation IPO will hit the capital market on March 11, 2010. The Rs 700 crore public issue consists of an offer for sale of 42.78 lakh shares by private equity shareholder Trinity Capital. The price band will be between Rs 242 and Rs 258, which implies the company will issue about 2.8 lakh shares.

DQ Entertainment issue was subscribed 0.69 times on the first day of its subscription. The issue received bids worth 90.8 lakh shares against the total issue size of 1.32 crore shares. The issue has a face value of Rs 10 with a price range of Rs 75 to Rs 80.

L&T Power plans to install power projects of 5000 mega watt (mw) capacity by 2015 and could invest around Rs 30,000 crore on it.

Exide Industries is selling up to 50 million shares at 107-108 rupees each to institutions to raise approximately $120 million . Bank of America-Merrill Lynch and Morgan Stanley are among arrangers for the deal.

Wipro Infotech gets turnkey project to set up a financial intelligence network for the finance intelligence unit of the from the finance ministry.

Government bonds fell pushing yields to a 17-month high as investors fear that high borrowing by the Central government and likely demand From companies for expansion due to accelerating economic growth will push up interest rates further. RBI may soon follow by raising policy rates. The yield on the 6.35% benchmark 2020

News for the day 07/03/10

Zee Entertainment is in talks to acquire 9X's Hindi general entertainment space. The deal is valued at Rs 65-75 crore.

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Essar Group to buy US's Trinity Coal for Rs 2,750 cr. Essar Minerals, Delaware, a subsidiary of the Essar Group has entered into an agreement with private equity firm Denham Capital to acquire 100 per cent ownership of US based Trinity Coal for $600 million (Rs 2,750 crore).With this, the Ruias investment and commitment in the US would cross $4 billion (Rs 18,400 crore).

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RBI puts off rollout of base rate to July 1

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Aditya Birla Retail stake sale : Retail chain store operator Aditya Birla Retail is open to selling a 10% to 15% stake to private equity firms.

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Jindal sells 1.58% in JSW Steel : Vice-chairman and managing director of JSW Steel, Sajjan Jindal, diluted his stake in the company by 1.58% on March 3. In a filing to the stock exchanges, Jindal has said that he sold 3.75 lakh shares to Sun Investments for Rs 1,113 per share.

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Zicom to sell two of its biz units to Schneider Electric for about 2.25 billion rupees, lifting its shares by nearly a fifth. Zicom's two units, catering to governmental and institutional markets, together have an order book of about 800 million rupees and nearly 200 employees.

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News for the Day 05/03/10

Apollo Hospitals keen to foray into medical education

Aurobindo will soon be entering the $8-billion oral contraceptive market .The company would be initially targeting the US which accounts for about 45% of the total oral contraceptive market.

Govt plans wheat and rice exports even as food inflation soars to 17.9%

NMDC to spend Rs 26.5k cr in 5 yrs, eyes overseas mines

Suzlon Energy said it has bagged a contract from Gujarat State Petronet Ltd for setting up 52.5 mw wind energy project inGujarat.

PSU oil firms will invest over Rs 77,500 crore for adding 44.2 million tonne of refining capacity by 2012, petroleum minister was quoted sayin.

Strides to buy Aspen'sBrazil unit for $75 m to acquire the latter's facility in Campos,Brazil, along with its products and intellectual property in line with Strides' strategy to focus on core specialty injectable business.

Hindustan Construction Co Ltd won two orders worth about 3 billion rupees from Hindalco Industries for structural work at the latter's aluminium smelter project in Orissa

India's food price index rose 17.87 percent in the 12 months to Feb. 20, while the fuel price index was up 9.59 percent,

The direct tax collections were up 7.52 per cent in the first 11 months against Rs 2.58 lakh crore in the same period last fiscal.News:

News for the Day 04/03/10

Reliance Capital has about 13.79% stake in Fame India , while it first started accumulating shares their stake was only 3.5%

Punj Lloyd says secures $223 mln plant deal to construct a 600-megawatts power plant in western Maharashtra state.

Bajaj Corp files for IPO of 4.5 mln shares.The price range of the IPO was not yet decided.The IPO proceeds would be used for product expansion and acquisitions.

Jaiprakash Associates jumped 6.1 percent as its cement shipments in February jumped 61 percent, while ACC fell 0.2 percent as its cement shipments dropped 2.3 percent.

There was a news that Ranbaxy Laboratories would not be able to launch a generic version of a urinary drug in the United States as per schedule in the absence of a final approval from the U.S. drug regulator.

ARSS Infrastructure Projects listed at 650 rupees on the BSE, 44.4 percent higher than its issue price of 450 rupees. The stock closed at 736.30 rupees.

Ashok Leyland firmed 1.1 percent to 52.65 rupees as it was reported that the company and Japan's Nissan Motor Co were in talks for developing a small car.

8 PSBs will see fresh capital infusion by May as part of the Rs 16,500-crore recapitalisation plan announced by finance minister Pranab Mukherjee in the Budget. The government will inject almost 60% of these funds. Bank of Maharashtra, Central Bank of India, Dena Bank, Indian Overseas Bank , Syndicate Bank, Uco Bank, Vijaya Bank and IDBI Bank are likely to benefit first from recapitalisation.

Reliance Industries has no plans to increase its bid for LyondellBasell after creditors rejected a $14.5 billion offer.

Steel Authority of India Ltd (SAIL) has raised product prices by Rs500-600 a tonne, after factory gate duties were raised in the Budget

Dawn of the Stocks