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MARKETS
RECOMMENDATION:
Allied Digital Services (Rs 750): Buy
We recommend a buy in Allied Digital Services from a short-term horizon. It is apparent from the charts of the stock that it has been consolidating sideways in a broad range between Rs 700 and Rs 920 since late January. The support at Rs 700 ...
RECOMMENDATION:
Day Trading Guide
Initiate fresh long-position only if the stock exceeds Rs 739, with stiff stop-loss. ...
ASSET MANAGEMENT COMPANIES:
EPFO defers transfer of funds to new managers
Special meeting of trustees convened on Sept 18. New Delhi, Sept. 8 The Employees Provident Fund Organisation (EPFO) that had appointed three new private sector fund managers last month has postponed transfer of funds to the newly appointed ...
IPOS:
Adani Power gets SEBI nod for IPO
Issue size may be Rs 5,630 cr. Kolkata/Ahmedabad. Sept. 8 Adani Power Ltd – an Adani Enterprises company - has received SEBI approval for the proposed Rs 5,630-crore IPO. ...
STOCK MARKETS:
Waiver gives fillip to stocks; Sensex up 461 points
Mumbai, Sept. 8 The waiver for India from the Nuclear Supplier’s Group (NSG) and the decision of the US Government to bail out mortgage finance companies Fannie Mae and Freddie Mac gave a boost to Indian stocks on Monday. ...
STOCKS:
Companies cut conversion price to resolve FCCB tangle
Foreign Currency Convertible Bonds (FCCBs), which in a bull market were seen as a low-cost option for Indian companies to raise funds, are now turning out to be millstones around their necks. Faced with ballooning debt after the stock prices ...
STOCKS:
Gujarat Govt order weakens State PSUs
Cos may have to share profit for social responsibility. Mumbai, Sept. 8 With Gujarat Government requesting State-owned companies to contribute up to 30 per cent of their profit before tax towards welfare activities, sentiment has turned ...
STOCK MARKETS:
Investors rush for power stocks
Mumbai, Sept. 8 NSG clearance to India to pursue nuclear commerce with nuclear fuel and technology-rich nations led investors to rush for power company stocks on ...
STOCKS:
SC order boosts sugar stocks
Production in 2008-09 is estimated to fall by 20%. Mumbai, Sept. 8 Sugar company stocks hogged the limelight on the bourses on the back of the Supreme Court interim order directing Uttar Pradesh sugar companies to pay Rs 110 a quintal against ...
FINANCIAL SERVICES:
JM Financial opens branch in Vizag
IPOS:
Chemcel Biotech plans Rs 25-cr IPO, sets issue price at Rs 16/share
Mumbai, Sept. 8 Chemcel Biotech Ltd, a company engaged in the business of agro-chemicals, announced on Monday that it will be entering the capital market with an IPO of 1.54 lakh equity shares of Rs 10 each at a premium of Rs 6 a share. ...
BUYBACK:
R Systems, Valiant announce buyback plans
Mumbai, Sept. 8 Technology firms Valiant Communications and R Systems on Monday said their respective company boards have approved the buyback of shares from the capital ...
MUTUAL FUNDS:
Sundaram BNP ties up with Shamrao Vithal Co-op Bank
Mumbai, Sept. 8 Sundaram BNP Paribas Mutual Fund has tied up with Shamrao Vithal Co-operative Bank Ltd for distribution of its mutual fund products. ...
DERIVATIVES MARKETS:
Nifty sees emergence of call writers
Most stock futures add long positions. Chennai, Sept. 8 Despite the market gaining sharply, turnover dipped marginally to Rs 45,977.13 crore against Friday’s turnover of Rs 46,868.19 crore. The Nifty September future, however, widened ...
STOCKS:
Near-term earnings upside for Aban
Rigs rentals continue to remain strong. Aban Offshore has won an order for deployment of its newly-built jack-up rig ‘Deep Driller 7’ in offshore Thailand. ...
STOCKS:
Rolta could benefit from nuclear deal
Its clientele include L&T, BHEL. Rolta India could be one of the less prominent beneficiaries from the nuclear deal. Rolta India derives 32 per cent of its revenues from providing engineering design and automation software and may have ...
STOCKS:
Correction
With reference to the news item captioned “Resurgere Mines turns volatile after strong debut” published in these columns on September 5, it was wrongly reported that the share price of Diana Tea rose by 162 per cent. It rose by ...
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