JK Tyre : Tyre prices to hike by 5-7%

Under: Buzzing Stock, JK Tyre, stock news, Tyre prices,JK Tyre,Price Hike, stock advice, Stock CUES,

JK Tyre

Tyre prices to hike by 5-7%:

In an interview with CNBC-TV18, AK Kinra, Chief Financial Officer of JK Tyre, spoke about the increase in rubber prices and how it impacts the company. Here is a verbatim transcript of an exclusive interview with AK Kinra on CNBC-TV18.

Q: Is a tyre company like yours considering a second round of price increases?
A: This is a very natural phenomena that when the cost goes up the prices of the end products have to go up. Whenever the cost goes up, we first look at internally. So whatever can be absorbed internally we do it but when it cannot be done the prices have to go up. The way the rubber prices have gone up in a couple of week’s time, it’s been hovering around Rs 135 per kg. The price increase of the tyres is almost inevitable.

Q: What would be a commensurate increase in tyres?
A: The price of various categories of tyres will have to go up between 5-7% because the rubber price about six months back was hovering in the range of about Rs 72 to 90 per kg and now its around Rs 130-140per kg. It’s almost doubling the price of natural rubber. I think this warrants a price increase of within 5-7% of the end product prices.

Q: There have been reports that you are planning some sort of another acquisition probably in the South East Asian region. Can you confirm or deny this for us? Do you have any acquisition plans?
A: We acquired a company called Tornel in Mexico last year. We completed the transaction in June 2008. Fortunately the transaction has gone very well the turnaround came in the least possible time. In the current year the company is making profit. We are always on the look out for acquisitions but nothing has been firmed up as yet. We should be looking at something very seriously in the month’s ahead but nothing is firmed up as yet. As soon as we are able to zero in on a target we will be able to share it with the market. We are always on the look out.

Wireless subscription reaches 506.04mn during November

Under: Growth, Buzzing Sector, Telecom, Telecoms sector, Wireless, BroadBand,BSNL,MTNL, PSU operators,

The number of telephone subscribers in India increased to 543.2mn at the end of November-09 from 525.65mn in October-09, thereby registering a growth rate of 3.34%. With this, the overall Tele-density in India reaches 46.32.

Wireless Segment (GSM, CDMA & FWP)

Wireless subscriber base increased from 488.4mn in October-09 to 506.04mn at the end of November-09 at a monthly growth rate of 3.61%. Wireless Tele-density stands at 43.15. Detailed statistics is at Annexure-I.

Category wise Net Additions during the Month of November 2009

Category	Net Additions
	Wireline	Wireless
Circle A	-55159	5215161
Circle B	-45562	7936112
Circle C	-7094	2430753
Metro	10160	2064954
All India	-97655	17646980

Wireline Segment

Wireline subscriber base declined from 37.25 Million in October-09 to 37.16 Million at the end of November-09. BSNL/MTNL, two PSU operators hold 85.35% of the Wireline market share. However, they lost 0.13 Million subscribers in the month of November-09. Overall Wireline teledensity is 3.17. Detailed statistics is at Annexure-II.

Category-wise Growth Rate in Access Service

Category	Monthly Rate of Growth (October-09 to November-09)		Yearly rate of growth (November-08 to November-09)
	Wireline	Wireless	Wireline	Wireless
Circle A	-0.44%	3.1%	-4.2%	47.9%
Circle B	-0.35%	4.3%	-4.1%	53.7%
Circle C	-0.22%	4.0%	-5.3%	68.8%
Metro	0.12%	2.8%	4.8%	36.9%
All India	-0.26%	3.6%	-2.3%	50.6%

Broadband (≥ 256 Kbps download)

Total Broadband subscriber base has increased from 7.40 million in October-09 to 7.57 million in November, thereby showing a growth of 2.26 %.

When Cairn India got Licence to drill

Under: Cairn India Buzzing Stock, stock advice, Stock CUES, stock news, stock Updates

It was the biggest oil find in India in more than two decades. Cairn plc had succeeded where the giant multinational, Shell, had failed. The 2004 oil find in Rajasthan state’s Barmer district not only changed Cairn’s fortunes forever on the London Stock Exchange, it also made the company a darling of the Indian government. The then oil minister, Mani Shankar Aiyar, even asked the state-run Oil and Natural Gas Corp (ONGC) to take lessons from the smaller, nimbler company.

But as expectations built up over the next two years, a realisation dawned that the oil in Barmer was difficult to extract; it solidified even before it was brought up to the surface. Water availability and taking the oil to the market from the Thar were big problems. Chairman Bill Gammell realised that he had to find someone exceptional to get the best out of the prize find.

Escorts accelerates as promoter revokes pledged shares gain more than 4%

Under: Escorts, Buzzing Stock, Escorts stock advice, Stock CUES, Escorts stock news, Escorts stock Updates, Escorts Announcement,

Escorts accelerates as promoter revokes pledged shares: Escorts advanced 4.19% to Rs 125.55 at 12:52 IST on BSE, after the company said one of the promoter group companies revoked a small portion of shares which it had pledged earlier

The company made this announcement during trading hours today, 24 December 2009. Meanwhile, the BSE Sensex was up 19.18 points, or 0.11%, to 17,250.29. On BSE, 11.11 lakh shares were traded in the counter as against an average daily volume of 11.34 lakh shares in the past one quarter.

The stock hit a high of Rs 126.50 and a low of Rs 121 so far during the day. The stock had hit a 52-week high of Rs 134 on 21 October 2009 and a 52-week low of Rs 31.75 on 12 March 2009. The mid-cap stock had outperformed the market over the past one month till 23 December 2009, rising 9.10% as compared to the Sensex's 0.30% rise. It had also outperformed the market in the past one quarter, gaining 29.01% as compared to the Sensex's return of 3.06%.

The company's equity capital is Rs 94.32 crore. Face value per share is Rs 10. The current price of Rs 125.55 discounts the company's Q3 June 2009 annualized EPS of Rs 9.80, by a PE multiple of 12.81. The company manufactures and exports tractors & tractor parts, diesel engines, gears, shafts, gearboxes, engine blocks, crankshafts, cylinder heads, connecting rods and spindles.

Escorts Finance Investments & Leasing, a promoter group company, has revoked 95,000 shares representing 0.10% of the equity capital of the company. Earlier Escorts Finance Investments & Leasing had pledged 39.42 lakh shares representing 4.18% stake in the company.

Escorts Finance Investments & Leasing holds 7.84% of the equity capital of the company. The total promoters shareholding in the company is 32% (as on 30 September 2009). Escorts' net profit jumped 138.7% to Rs 22.22 crore on 10.4% rise in net sales to Rs 582 crore in Q3 June 2009 over Q3 June 2008. The company will declare its Q4 results on 27 December 2009.

Fineotex Chemical plans to enter capital market IPO, IPO News, IPO UPdates,

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Fineotex Chemical plans to enter capital market

Fineotex Chemical is planning to come out with an initial public offer to meet its proposed expansion plans. The company has filed draft paper with the Securities and Exchange Board of India (SEBI). The company plans to set up a manufacturing facility for the production of specialty chemicals with a capacity of 13,125 MT per annum in Maharashtra, according to the draft red herring prospectus (DRHP) filed with market regulator. Fineotex is likely to spend about Rs 7.14 crore towards setting up of a new manufacturing facility.

The company also wants to open its sales office in Mumbai at a cost of Rs 1.80 crore. It needs Rs 2.08 crore for working capital requirements. Fineotex group is a leading manufacturer of chemicals for textiles, construction, water-treatment, fertilizer, leather and paint industry. The company also produces adhesives used in several industries like wood and paper.

According to draft papers, the company is considering the private placement of a portion of equity shares with certain investors, prior to the completion of the issue.

Saksoft grants stock options under the Employees Stock Option Plan 2009

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Saksoft grants stock options

the Employees Stock Option Plan 2009 to eligible employees of the company. The Decision is taken Saksoft committee meeting held on 23 December 2009. These options are convertible into equity shares of Rs.10 each at the time of exercise of the option.

Hindustan Construction up on buying interest

Under: Hindustan Construction, Buzzing Stock, stock advice, Stock CUES, stock news, stock Updates Hindustan Construction, Hindustan Construction Upadtes

Hindustan Construction up on buying interest

Hindustan Construction touched an intraday high of Rs 148.45 and an intraday low of Rs 140.90. At 12:30 pm, the share was quoting at Rs 147.10, up Rs 6.65, or 4.73%.

It was trading with volumes of 977,901 shares, compared to its five-day average of 398,959 shares, an increase of 145.11%. Yesterday the share closed up 2.63% or Rs 3.60 at Rs 140.45. Hindustan Construction up on buying interest

Tata Steel can touch Rs 700: Sanjeev Prasad, Kotak Securities

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Tata Steel can touch Rs 700: Sanjeev Prasad, Kotak Securities

Prasad told CNBC-TV18, "We still like Tata Steel and we are looking at somewhere about Rs 70 earnings per share (EPS) in March ’11. I think it can be Rs 700 stock in 12-15 months. If you apply about ten times multiples you are still looking at about Rs 700 for the stock.”

He further added, “Hindalco has done above our target price and now we will have to take call as to how aluminium prices behave over next one year. We have about 2,200 as aluminium price for next year, the aluminium prices currently are slightly above that. So there could be some more scope for credits over there, but I am not too sure if they are significant ones."

Hindustan Tin , Rexam Beverage - Amendment in Joint Venture Agreement

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Hindustan Tin , Rexam Beverage
Amendment in Joint Venture Agreement

Hindustan Tin Works Ltd has informed that pursuant to the approval of its Board of Directors, the Company, Rexam Beverage Can (India Holdings) Ltd (Rexam) and the Joint Venture Company have entered into an addendum to the Joint Venture Agreement on December 24, 2009 pursuant to which the revised shareholding of the Company and Rexam in the Joint Venture Company will be 15% and 85% of the total equity share capital of the Joint Venture Company respectively.

REC FPO to hit markets in Jan-Feb 2010, REC FPO, REC FPO News, REC FPO Updates,

REC FPO, REC FPO News, REC FPO Updates,

Rural Electrification Corporation REC FPO to hit markets in Jan-Feb 2010

The government will come out with a follow-on public offer (FPO) for state owned Rural Electrification Corporation (REC) in January-February 2010, a Power Ministry official has said, reports CNBC-TV18.

Earlier in November, REC CMD P Uma Shankar had also confirmed the FPO would hit market by February 2010.

The company has filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India for FPO of 171,732,000 equity shares of Rs 10 each, constituting 20% of existing paid-up capital on December 03, 2009.

Power Grid may consider FPO plan early FY11

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Power Grid may consider FPO plan early FY11

Sources of Power Grid Corporation told CNBC-TV18 that the company's board is likely to take up FPO (follow-on public offering) plan early FY11.

Government will divest part of its stake with FPO.

The company had raised nearly Rs 3,000 crore from its IPO (initial public offering) in September 2007. Its issue price was at Rs 52.

At 12:23 pm, the share was trading at Rs 109.25, up Rs 3.00, or 2.82%. Its volumes jumped 190% to 958,779 shares, compared to its 5-day average of 330,511 shares. Its current market cap stood at Rs 45,981.59 crore.

Omnitech InfoSolutions allotments of equity shares & convertible warrants

Omnitech InfoSolutions, equity shares allotments, Buzzing Stock, stock advice, Omnitech InfoSolutions Stock CUES, Omnitech InfoSolutions stock news, Omnitech InfoSolutions stock Updates

Omnitech InfoSolutions allots equity shares & warrants

The board of Omnitech InfoSolutions in its meeting on 22 December 2009 has approved the allotment of 8,62,000 convertible warrants and allotment of 2,77,794 equity shares pursuant to conversion of warrants.

Prism Informatics to issue preference shares of Rs. 100 each

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Prism Informatics
Prism Informatics to issue preference shares of Rs. 100 each

The members of Prism Informatics have authorised the board of directors for issue of 20,00,000, 4% non cumulative compulsorily convertible preference shares of Rs. 100 each at par.

This was decided at the extraordinary general meeting held on 22 December 2009.

CRISIL assigns grade 3/5 to Hathway Cables IPO

Hathway Cables, IPO, CRISIL, Buzzing Stock, Rolta India, stock advice, Hathway Cables Stock CUES, stock news, Hathway Cables stock Updates

CRISIL assigns grade 3/5 to Hathway Cables IPO

CRISIL has assigned a CRISIL IPO Grade 3/5 to the proposed IPO of Hathway Cables & Datacom Ltd. This grade indicates that the fundamentals of the IPO are average relative to the other listed equity securities in India. However, this grade is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals. The grade is not a recommendation to buy / sell or hold the graded instrument, or a comment on the graded instrument’s future market price or its suitability for a particular investor.

The IPO grade assigned to Hathway reflects the current position of the company as one of the leading multi service operators (MSOs) in the country. As on March 31, 2009, the company’s paying subscriber base stood at 1.6 million. Of these, the digital subscriber base accounted for 1.0 million. Given its scale, Hathway is well-placed to capitalise on the opportunities arising from consolidation and digitisation in the cable industry. The grading also takes into account the company’s experienced management and its demonstrated ability to acquire and integrate MSOs and local cable operators (LCOs). The company’s efforts to consolidate its subscriber base through the acquisition of MSOs and LCOs, and convert analog subscribers to digital are expected to yield benefits over the medium-term. The ability to execute this strategy within a faster timeframe would be critical for the company’s growth. However, the large scale of acquisitions envisaged is likely to pose significant management challenges. The grading is also constrained by the high competition the company faces, particularly from direct-to-home (DTH) operators, many of whom have strong parentage and financial muscle.

Saksoft grants stock options Movement During The Last 12 Months

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FCCB Repurchase,

Sanjeev Prasad, Kotak Securities,

Under: Buy call, Buzzing Stock,Target, stock advice, Stock CUES, stock news, stock Updates, Recommendation, Target Price, Expert Advice, stock advice, Recommended price,

Buy call, Buzzing Stock,Target, stock advice, Stock CUES, Recommendation, Target Price, Expert Advice, stock advice, Recommended price,

,Mutual Funds, Mutual Fund News, Mutual Fund Updates, Mutual Fund Allocation,

JMDE Packaging & Realties Ltd: JMDE Packaging Board approves Rights Issue

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JMDE Packaging & Realties Ltd "JMDE"
Packaging Board approves Rights Issue

JMDE Packaging & Realties Ltd has informed that the Board of Directors of the Company at its meeting held on December 22, 2009, inter alia, has considered and approved the following matter: 1. Split up the shares of Rs. 10/- (Rupees Ten Only) each into shares of Rs. 1/- (Rupees One Only) each. 2. Issue of further shares to the existing shareholders of the Company on Rights Basis 2 shares for every one shares held by the shareholders. 3. To obtain approval of Shareholders for the above matters by way of Postal Ballot.

FCCB buyback lifts Rolta India nearly 1%

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Rolta India
FCCB buyback lifts Rolta India nearly 1%

The company made this announcement during trading hours today, 24 December 2009. Meanwhile, the BSE Sensex was up 40.23 points, or 0.23%, to 17,271.34. On BSE, 3.92 lakh shares were traded in the counter as against an average daily volume of 10.09 lakh shares in the past one quarter.

The stock hit a high of Rs 193.60 and a low of Rs 189 so far during the day. The stock had hit a 52-week high of Rs 206.25 on 7 October 2009 and a 52-week low of Rs 40.70 on 12 March 2009.

The mid-cap stock had outperformed the market over the past one month till 23 December 2009, rising 9.52% as compared to the Sensex's 0.30% rise. It had also outperformed the market in the past one quarter, gaining 9.33% as compared to the Sensex's return of 3.06%.

The company's equity capital is Rs 161.05 crore. Face value per share is Rs 10. The current price of Rs 192.30 discounts the company's Q1 September 2009 annualized EPS of Rs 19.02, by a PE multiple of 10.11.

The company has bought back foreign currency convertible bonds (FCCBs) at a discount of 15.25% resulting in a gain of $2.80 million (approximately Rs 13 crore). The buy back of FCCBs will help reduce liabilities and interest costs.

In late October 2009, the board of Rolta India had approved raising up to $250 million through various sources from domestic and international market. Early this month, Rolta India signed a pact with French firm Infoterra France for pixel factory, an image processing technology.

Rolta India's net profit fell 28.82% to Rs 76.55 crore on 9.15% rise in net sales to Rs 246.38 crore in Q1 September 2009 over Q4 June 2009. Rolta India provides IT-based solutions and services to the geospatial and engineering segments.

Promoters have pledged more than 40.80 lakh shares representing 2.53% equity capital fo the company. The total promoter shareholding in the company is 41.97% (as on 30 September 2009).

GTL Infrastructure to acquire Aircel’s towers, GTL Infrastructure Stock CUES,

GTL Infrastructure, Buzzing Stock, GTL Infrastructure Stock CUES, stock advice, stock news GTL Infrastructure, stock Updates GTL Infrastructure,

GTL Infrastructure Stock CUES
GTL Infrastructure to acquire Aircel’s towers

GTL Infrastructure, a company that leases out towers to cell phone operators, is planing to acquire Aircel’s towers for Rs 40bn in an all-cash deal,according to a report. The report stated that GTL has outbid rival Tata-Quippo in the negotiations to buy the 17,500 towers of Aircel that will take its total to 33,000 and will give it access to another 20,000 that are being set up. The enterprise value of the deal may be around Rs 85bn, including a debt of Rs 45bn, report adds.

Great Offshore Gain Reach To 12.3%

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Great Offshore
Gain Reach To 12.3%

Great Offshore touched an intraday high of Rs 570.80 and an intraday low of Rs 498.05. At 11:59 am, the share was quoting at Rs 558.35, up Rs 61.45, or 12.37%.

It was trading with volumes of 303,379 shares. Yesterday the share closed up 5.96% or Rs 27.95 at Rs 496.90.

Rolta India repurchases FCCB's worth US$15mn, Rolta India stock Updates,

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Rolta India
further repurchases FCCB's worth US$15mn

Shares of Rolta India have gained by 1.2% to Rs192. The company announced that it has further repurchased US$15mn of the outstanding Foreign Currency Convertible Bonds's (FCCB's), of the original issue of Zero Coupon FCCBs of US$150mn due in 2012.

The Bonds of the accreted value of US$17.8mn have been repurchased at a discount of 15.25% resulting in a gain of US$2.8mn (approx. Rs130mn).

The scrip opened at Rs191 it touched an intra-day high of Rs193 and a low of Rs189 and has recorded volumes of over 1.1mn shares on NSE.

DB Corp fixes IPO price at Rs 212/sh DB Corporation IPO Allotment

Dainik Bhaskar IPO Allotment , DB Corp IPO Allotment , DB Corp IPO Allotment Price, IPO price Buzzing Stock, DB Corp fixes IPO price, DB Corp Stock CUES, stock advice, DB Corp stock news, stock Updates, Fixed shre price, Dainik Bhaskar IPO Allotment

Dainik Bhaskar "DB Corp"
fixes IPO price, IPO Allotment

Dainik Bhaskar publisher, DB Corp has fixed the issue price of Rs 212 per share for its IPO of 1.81 crore shares. This IPO has received overwhelming response from investors and was seen highest subscription among the IPOs of 2009.

The issue was subscribed 39.54 times, on the back of support from qualified institutional investors (QIBs). QIBs' reserved portion was subscribed 68.5 times followed by non-institutional investors with their portion being subscribed 26.17 times. Retail investors' portion was subscribed just 3.42 times. Enam Securities, one of the book running lead managers, garnered 50% of QIB book.

The price band for the issue was at Rs 185-212 per share and the issue was opened during December 11-15, 2009. The issue constituted about 10% of the fully diluted post-issue capital of the company. About 7% of the issue was a fresh offering, while the remaining 3% constituted an offer for sale by Cliffrose Investment Ltd, an affiliate of private equity firm Warburg Pincus.

Hotel Leelaventure Partial Repurchase US$ Zero Coupon FCC Bonds Hotel Leelaventure Stock

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Hotel Leelaventure - Partial
Repurchase of Outstanding US$ Zero Coupon FCC Bonds Due 2012

Hotel Leelaventure Ltd has informed that the Company is considering partial repurchase of outstanding zero coupon Convertible Bonds due in 2012 and listed on the Singapore Stock Exchange. Such purchase shall be effected subject to availability of bonds at terms acceptable to the Company. The Company has appointed Kotak Mahindra UK Ltd. for the same.

Frontline banking good bet with 6-month view: Rahul Mohindar, viratechindia,

Under: Rahul Mohindar, viratechindia, Expert Advice, Banking Sector, Banking funds, Bank, SBI, Medium Term, Long Term Basis

Rahul Mohindar of viratechindia.com is of the view that one can bet on frontline banking stocks with six month perspective.

Mohindar told CNBC-TV18, “I would typically like to look at the frontline banks first, so if I look at an State Bank of India (SBI) or an ICICI Bank I still think there is some work to do but on a different note. I was looking at a sector from a medium to long term basis. It’s an excellent sector to be betting into so even if you are going long into some of these heavyweight banking stocks its not a bad idea if you have a six month plus kind of window.”

He further added, “I would like to go with IDBI here, I don’t see a downside greater than 5-10% lets put it that way and I think it certainly still makes a good investment bet from a medium to long term basis.”

ACC has decent support at Rs 830: Rahul Mohindar, viratechindia,

Under: ACC, Rahul Mohindar, viratechindia, Buy call, Buzzing Stock, ACC cement, ACC stock prices, ACC stock advice, ACC Recommendation, ACC Recommended price, ACC Target, ACC Target Price,

Rahul Mohindar of viratechindia.com is of the view that ACC has decent support at Rs 830. The stock can go upto Rs 875-880.

Mohindar told CNBC-TV18,"ACC has decent support at Rs 830. The stocks may drift another Rs 15-20 odd so average out and buy it but somewhere between Rs 800-830. I would be willing enough to go out and buy the stock keeping in mind that in the short term we could get a blip up to about Rs 875-880.”

He further added, “I think there is an upside left for Grasim Industries, they broke out key levels over the and I think lower down there is jut 2-3% on the downside versus lets say 5-6%. So nothing really extravagantly big and traders should really look at the sector as a buy opportunity.”

Stay invested in Glenmark Pharma: , Hold Glenmark Pharma:

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Rahul Mohindar of viratechindia.com is of the view that stay invested in Glenmark Pharma with a target of Rs 320.

Mohindar told CNBC-TV18,"Glenmark Pharma is on some radar for some time and we have been talking about the stock from Rs 220 levels. We are continuing to maintain a bullish stand on it and I would say if you are already invested into a Glenmark stay in it, Rs 320 is the kind of long term target. I would put on this kind of a stock. The stock has support at Rs 250.

He further added, “Orchid Chemicals too there is nothing really negative on the charts right now. But at the same time doesn’t warrant a fresh entry but in the mean pharma is an interesting sector just as technology and metals so I think these are three very exciting spaces for the short term trader.”

Positive on metals, IT, banking Sector : Rahul Mohindar, viratechindia

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Rahul Mohindar of viratechindia.com is positive on metals, technology and banking sector.

Mohindar told CNBC-TV18,"From the frontline, Reliance Industries seems to have got the right kind of support. I think over the next 4-5 sessions we could see some upward price action. But if I have to pick between sectors, the first would be metals, second is technology and third is banking but they will all chip in their own small ways on the upside.”

Buy Bharti Airtel on every decline:

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Ambareesh Baliga of Karvy Stock Broking is of the view that buy Bharti Airtel on every decline and exit the stock around Rs 335-340.

Baliga told CNBC-TV18, "Bharti Airtel at higher levels and we were looking at levels around Rs 310-311 to re-enter Bharti and we got that opportunity yesterday. So at every lower levels we are getting into the telecom stocks especially Bharti. In case of a short-term rally again if Bharti goes up to levels of Rs 335-340, which I do not expect it to go to at least in the near future but in case it goes to those level we will exit although we have short-term targets still of around Rs 420-440 over the next 12-14 months.”

Buy IDFC with long term perspective: Ambareesh Baliga, Karvy Stock Broking,

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Ambareesh Baliga of Karvy Stock Broking is of the view that buy Infrastructure Development Finance Company (IDFC) with long term perspective on 10-12% correction.

Baliga told CNBC-TV18, "I think IDFC is one stock, which we have liked for a while. We believe that going ahead possibly in the next 1.5-2 years IDFC can convert itself into a bank that should be a big trigger for that. At the same time looking at the growth which we are seeing in the infrastructure sector especially over the next four-five years then this is one space to be in and in case it corrects in sort of a correction which we are expecting in the market. In case this stock corrects possibly at 10-12% then it’s a decent buy from a long-term angle.”

Great Offshore can go upto Rs 480: Ambareesh Baliga, Karvy Stock Broking

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Ambareesh Baliga of Karvy Stock Broking is of the view that Great Offshore can go upto Rs 480.

Baliga told CNBC-TV18, "We had said that Great Offshore should go to levels of around Rs 480. I think at these levels it’s more or less fully priced.”

3i Infotech has target of Rs 93-95: Mitesh Thacker

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3i Infotech has target of Rs 93-95, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "3i Infotech came into action after quite some time. We saw very good volumes happening, generally 3-4 times in the normal 10 day average. So very clearly the stock price is looking up.”

He further added, “There is good short-term momentum on charts, Rs 93-95 would be a very good target for this stock price. I would recommend stoploss of around Rs 86 for the trade."

Rs 252.50 stoploss in Yes Bank

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Keep Rs 252.50 stoploss in Yes Bank, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "Yes Bank has been moving in a range of around Rs 275 on the upside and Rs 255 on the downside. Yesterday the stock price took support around the Rs 255 mark and then bounced back from there.”

He further added, “Very clearly, a test of the previous highs around Rs 273 looks to be on the cards. I think the recommended stoploss would be around Rs 252.50."

Shree Renuka may slip to Rs 204-195

Shree Renuka, Buy call, Buzzing Stock, stock prices, Shree Renuka stock advice, Recommendation, Recommended price, Target, Shree Renuka Target Price , Mitesh Thacker, Technical Analyst,

Shree Renuka Sugars may slip to Rs 204-195, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "Shree Renuka Sugars has been looking weak on medium-term charts. We saw good pullback from levels of around Rs 200-220. Yesterday we saw the price taper off again. It seems that the pullback is over and the prices are ready to decline. Again Rs 204 to 195 would be targets on the downside and the stoploss would be around Rs 222."

At 10:08 am, the share was quoting at Rs 216.15, up Rs 0.75, or 0.35% with volumes of 31,502 shares. Its marketcap is Rs 6,849.79 crore. Currently it is 226.26% above the 52-week low of Rs 66.25.

Buy Idea Cellular with target of Rs 65: Mitesh Thacker, Technical Analyst

Under:Idea Cellular, IBuy call, Idea Cellular Buzzing Stock, stock prices, stock advice Idea Cellular , Recommendation, Recommended price, Target, Idea Cellular Target Price

Buy Idea Cellular with target of Rs 65, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "We saw good action in telecom stocks. After a good run up, they were correcting and with yesterday’s move it seems that the correction is over and the stocks are looking to move up again.”

He further added, “Idea Cellular could be a good buy here with targets of Rs 62 and 65 in the short-term. The stoploss would be around Rs 56."

GMDC has target of Rs 155: Mitesh Thacker, Technical Analyst

Under: GMDC Buy call, Buzzing Stock, GMDC stock prices, GMDC stock advice, Recommendation, GMDC Recommended price, GMDC Target, GMDC Target Price

Gujarat Mineral Development Corporation (GMDC) has target of Rs 155, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "GMDC has been consolidating in the narrow range of around Rs 143-144 on the upside and Rs 134 on the downside. Yesterday, we saw very good price action; 6% up with good jump in volumes.”

He further added, “I think Rs 155 would be good short-term target for traders and the recommended stoploss would be around Rs 139."

Technical Bharati Shipyard Stock Up receives 27.56% equity in open offer

Under: Bharati Shipyard, Technical Analysis, intraday , intraday high, ABG Shipyard open offers, Buy call, Buzzing Stock, Bharati Shipyard Stock CUES, Stock in News,Bharati Shipyard stock advice,

Bharati Shipyard touched an intraday high of Rs 221.70 and an intraday low of Rs 217.05. At 10:27 am, the share was quoting at Rs 219.45, up Rs 4.25, or 1.97%.

The company has received 1.02 crore shares in the open offer, which account for 27.56% of the equity, quoting Sources, reports CNBC-TV18.

Bharati holds 23.17% stake in Great Offshore and they will accept 20% shares. Bharati’s stake in Great Offshore will go up to 43% through this exercise.

It was trading with volumes of 26,837 shares. Yesterday the share closed up 0.19% or Rs 0.40 at Rs 215.20.

hare Price Movement During The Last 12 Months
Period	Price	Latest Price	Gain/Loss (Rs.)	% Gain/Loss
3-Days	217.25	219.45	2.20	1.01
5-Days	214.85	219.45	4.60	2.14
7-Days	221.60	219.45	-2.15	-0.97
15-Days	223.20	219.45	-3.75	-1.68
1-Month	170.30	219.45	49.15	28.86
3-Month	211.75	219.45	7.70	3.64
6-Month	171.10	219.45	48.35	28.26
9-Month	53.60	219.45	165.85	309.42
1-Year	69.75	219.45	149.70	214.62

Orchid Chemicals can test at Rs 200-205: Mitesh Thacker, Technical Analyst,

Under: Orchid Chemicals, Buy call, Buzzing Stock, Orchid Chemicals stock prices, stock advice, Recommendation, Recommended price, Orchid Chemicals Target, Target Price, Buy call, Orchid Chemicals Target Price,

Orchid Chemicals can test at Rs 200-205, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "Orchid Chemicals bounced back from strong support levels of around Rs 180. So very clearly after falling form levels of Rs 230 the stock was quite oversold. There was strong support of Rs 180 which was earlier a breakout level for this stock price, so bounce back from those levels probably can hit Rs 200-205. In the short-term people who have been stuck will probably get an exit around Rs 200 plus level.”

He further added, “Glenmark Pharma still looks pretty good. The stock price has been moving in a good uptrend for quite some time now; I think Rs 290-295 would be the short-term supply areas for this stock price."

Nifty inching towards 5050

Under: Nifty tareget, Nifty short term Target, Nifty Resistance Level, Nifty Future, NIffty,

buying in all sectors was helping the Nifty to extend gains and inch up towards the 5,050 level. Metal, power, technology, oil & gas, banking and realty were prominent sectors in rally; respective indices gained 1-1.6%. The broader indices were trading in line with benchmark indices, up 1% each.

Positive Asian markets were also supportive; Shanghai, Straits Times and Taiwan Weighted were up 0.6% each. Kospi, Hang Seng and Jakarta were flat in trade.

The market breadth was positive; about 1,991 shares advanced while 871 shares declined on the BSE. Nearly 576 shares were unchanged.The 30-share BSE Sensex was trading at 16,880, up 188 points and the Nifty was at 5,042, up 57 points.

In the midcap space, Gujarat NRE Coke, Emami, Indian Bank, Sobha Developer and Prakash Industrise were up 3.4-5.6% while Rei Agro, Mahindra Holiday, Shree Cements, Corporation Bank and Novartis India fell 1-2%.

In the smallcap space, Hinduja Venture, Jolly Boards, Usha Martin, JSW Holdings and Action Construction gained 7.5-12% while Zodiac Clothing, Seamec, GMR Industries, Aegis Logistics and Shristi Infra lost 3-6%. Nifty back above 5000 on positive global cues

The Sensex started the day on a positive note and continued its yesterday's rally further. The Nifty has touched the 5,000 mark on the back of buying in across all sectors.

At 9:56 am, the Nifty was trading at 5,015, up 29 points and the Sensex was at 16,781, up 89 points. The CNX Midcap Index gained 39 points to 7,264, as about 600 shares advanced while 100 shares declined on the NSE.

Among the frontliners, ICICI Bank, Infosys, Suzlon, NTPC, Reliance Power, SAIL and Unitech were gainers in early trade. However, ITC, Grasim, ONGC and HUL fell.

Midcap & Smallcap space:

The twin open offer for Great Offshore closed yesterday. Sources told CNBC-TV18 that Bharati Shipyard's offer was successful. Bharati has received 1.02 crore shares in the open offer, which account for 27.56% of the equity. Bharati’s stake in Great Offshore will go up to 43% through this exercise.

The other bidder, ABG Shipyard, which dropped out of the race the day before the open offer opened by selling almost its entire stake, said it would retain its stake if it gets less than 5% but sell the stake in case the open offer garners more than 5%.

Great Offshore rose 3%. Bharati Shipyard was up 2% and ABG Shipyard up 1%.

3i Infotech and Orchid Chemical gained 1-3%

Hotel Leela gained 3% as there were reports that Hotel Leela Venture promoters are raising stake in company to 55% via creeping acquisition.

Yes Bank, IDBI Bank and PTC India went up 1-2%.

ITI rose 4% and Nelco gained 5%. Easun Reyrolle shot up 6%.

However, STC India lost 1% and Havells down 1%.

Global cues:

Asian markets were trading higher. Shanghai, Straits Times and Taiwan were up 0.4-0.5%. Kospi, Hang Seng and Jakarta were flat. Nikkei was shut today.

The US markets ended higher after positive home sales data and shrugged off lower GDP (gross domestic product) data. The S&P 500 hit a fresh 52-week high at 1,120.27 during the day.

The Dow Jones industrial Average ended up 51 points at 10,465. The Nasdaq Composite rose 15 points at 2,253 and the S&P 500 was up 4 points at 1,118.

US 3Q Final GDP was up 2.2% against preliminary GDP at 2.8% & advance estimate of 3.5%.

Existing home sales rose 7.4% in November to 6.54 million units against expected 6.25 million units.

Commodities:

Crude oil was up $1 at $74.5/bbl. OPEC decided to leave output levels unchanged.

February Gold was down 0.8% at $1086.7/ounce.

March silver was down 0.3% at $17.93/ounce.

Baltic Dry Index was down 2.9%.

Market cues:

-FIIs net sell USD 55.2 million on December 21
-Total F&O Open Int up by Rs 1070 crore at Rs 1,16,909 crore
-FIIs net sell Rs 110 crore in cash on December 22 (prov)
-DIIs net buy Rs 510.6 crore in cash on December 22 (prov)
-FIIs net buy Rs 1197 crore in F&O on December 22

F&O cues:

-Total Futures Open Int up by Rs 543 crore, Total Options Open Int up by Rs 527 crore
-Nifty up 0.7%, Futures Open Int down by 1.5%
-Nifty Dec futures trading at 5 pt premium versus 4 pt discount
-Nifty Open Int PCR at 1.15 versus 1.12
-Nifty Calls shed 4.8 lakh shares, Nifty Puts add 13.8 lakh shares
-Nifty 4900 Dec Put adds 8.5 lakh shares
-Nifty 5000 Dec Call adds 3.8 lakh shares
-Nifty 5000 Dec Put adds 3.9 lakh shares in Open Int (Had shed 9.2 lakh shares on Monday)
-Nifty 5700 March Call adds 2 lakh shares
-Stock futures add 2 crore shares in Open Int
-FIIs net buy Rs 421 crore in Nifty Futures on December 22
-Nifty Futures Open Int down by 3688 contracts on December 22
-FIIs net buy Rs 234 crore in Nifty Options on December 22
-Nifty Options Open Int up by 1715 contracts on December 22
-FIIs net buy Rs 542 crore in Stock futures on December 22
-Stock Futures Open Int down by 1283 contracts on December 22
-FIIs net sell Rs 1 crore in Stock Options on December 22
-FII contribution to total F&O turnover at 22.1% versus 16.8% on Friday

Reliance industries has support at Rs 975: Mitesh Thacker, Technical Analyst

Under: Reliance Industries, , Buy call, Target Price, Buzzing Stock, stock prices, stock advice, Recommendation, Recommended price, Target, Reliance IndustriesTarget Price

Reliance industries has support at Rs 975, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "The most important observation for Reliance is that the stock price has been under performing the markets, in general it has been under performer for quite some time now, and still there are no signs of reversal over there.”

He further added, “The stock has been taking time and again support at the 200 DMA around the Rs 975 mark. As long as the stock holds above this level, I think there is no immediate downside to this stock price and probably Reliance will be one good stock which will shape the future movements of Nifty.”

“On the upside Rs 1,100 is the key levels. So its been moving in a contracting range, Rs 1,100 is the breakout on the upside level and if that were to happen probably I will bet again big on the Oil & Gas sector leading the markets to much higher highs than what we have seen till now."

Indian IT firms on global talent hunt Infosys on top

Under: Indian IT firms, global, talent hunt, Infosys,open IT contracts, Us revenue, Stock CUES, Stock in News, stock advice, Buzzing Stock,

Engineering campuses are not the only place Indian IT companies are returning to. They are also aggressively hiring in the US and other global markets. CNBC-TV18’s Sunanda Jayaseelan reports.

It's a trillion dollar opportunity, one IT companies cannot, and are not ignoring. The US government is throwing open IT contracts and analysts say Indian technology firms are jumping on this as an opportunity to ramp up revenues from the US. More and more companies are now hiring Americans for these projects. Infosys, for one, has set itself aggressive targets to hire locally in the US.

V Balakrishnan, Chief Financial Officer, Infosys Technologies, said, “The US is a large opportunity, today about 5% of all our employees are local. Going ahead 15% of all our employees will be foreign nationals. This will hold true for our newly formed subsidiary in the US too.”

IT consultants estimate that tier-one Indian IT firms will hire between 5,000-10,000 people, and tier-II and tier-III firms will hire upto 1,000 people over the medium to long term in the US alone.

Siddharth Pai, Managing Director, TPI India, said, “Depending on the company and the business strategy of course, anything between 15-20% of workforce will be foreign hires.”

The US may not be the only playing field. Infosys, for instance, says it will look at more local hiring in the Europe as well, especially as it starts seeing demand picking up from these markets.

ICICI Bank gooing to recruit 3,500 by Q1 2010

Under CICI Bank, Expanssion Plan, Bank Sector, Stock CUES, Stock in News,

CICI Bank is back on recruitment mode, albeit cautiously, learns CNBC-TV18. However, by April next year, it will be full blown recruitment, and the bank is looking to increase its headcount by around 3500 employees by Q1 of 2010, reports CNBC-TV18's Gopika Gopakumar.

he bank is looking at adding personnel to its growth areas, like the home loan, car loan and transaction business. The country’s largest private bank has increased its headcount from 34,500 to 35,500. Officials at the bank said that the recruitments are taking place to replace attrition in the last nine months. The bank is not expecting to touch the 41,000 headcount that it had in 2007 any time soon, they said. It is looking at a balance sheet growth of 15-20% in FY11, said the bank’s officials.

Wall Street S&P hits 52-wk high : ains on +ve home sales data

Under: Wall Street, S and P, 52-wk high,Global Opinion, Global Markets, Global Cues,

Broad-based buying sent the S&P 500 to fresh 52-week highs despite a surprise downward revision to third quarter GDP and a gain by the greenback. The higher than expected existing home sales supported sentiment. Also Read - How ADRs performed

The Dow Jones Industrial Average added 50.79 points, or 0.5%, to 10,464.93. The Standard & Poor's 500 index rose 3.97 points, or 0.4%, to 1,118.02, while the Nasdaq Composite Index was up 15.01 points, or 0.7%, to 2,252.67. The market mood was tempered by news that third quarter GDP was determined to have increased at a slower-than-expected annualized rate of 2.2%, lower than consensus prediction.

The housing data of course provided some relief. It showed that existing home sales climbed at a stronger-than-expected clip of 7.4% month-over-month. That lifted the annualized rate to 6.54 million units.

The dollar index fell after hitting fresh 3-month highs but continues to trade around the 78 mark. In intra-day trade yesterday, the index rose to a high of 78.44, the most since September 4. The dollar's gains led to a selloff in commodities, crude slipped almost a percent but it is trading above the USD 74. The base metals too were impacted by the dollar's strength.

Great Offshore, Bharati Shipyard's, ABG Shipyard open offers

The twin open offer for Great Offshore closed yesterday. Bharati Shipyard's offer was successful reports CNBC-TV18’s Gautam Broker. Sources say, Bharati has received 1.02 crore shares in the open offer, which account for 27.56% of the equity. From this, Bharati will accept 20% shares on a pro-rata basis at Rs 590 per share. Bharati’s stake in Great Offshore will go up to 43% through this exercise.

Here is a verbatim transcript of Gautam Broker’s comments on CNBC-TV18 Bharati Shipyard had asked for about 78 lakh shares, the 20% of the equity, but have got about 1.2 crore shares. That’s almost 27% of equity. So almost 73% of all shares send out will be accepted in the open offer and Bharati will be shedding out somewhere close to Rs 460 crore. Their overall holding in the company now rises to 43.19%.

Interesting thing to note in this entire dealing would be how much ABG Shipyard has gained in its open offer because their open offer was about 32% and its unlikely that the whole portion would have been tendered in that open offer.

So we will have to keep an eye on what kind of stakes ABG is able to garner through the open offer and what it does to with that stake. Remember, competitor holding up even 5-6% stake in Great Offshore would make Bharati uncomfortable. Another thing to watch out for would be the possible open offer under regulation 12 for management control by Bharati. ABG said it would retain its stake if it gets less than 5% but sell the stake in case the open offer garners more than 5%.

The other bidder, ABG Shipyard, which dropped out of the race the day before the open offer opened by selling almost its entire stake, said it was not expecting to get more than 5% in the open offer.

Ganeshaspeaks: Market prediction for Dec 23, 24, 29 and30.

On December 20, 2009, Jupiter is changing its sun sign. And its effects will start showing from December 18, 2009 onwards. The market will go haywire. You will not know what to do. Ganesha advises you to avoid taking a long-term stand on anything. Square your positions daily.

Last week, Nifty average was 26 points and Nifty total will 130 points. So over all, it was mostly a waste of time. Now you know why Ganesha was saying what it said in the last week's prediction.

Nifty will be particularly unpredictable on December 21, 22, 23 and 30. Don't take a position on bank Nifty on December 23, 24, and 29.

Stick to delivery-based intraday during the next week.

A forgettable day. Your best option is intra-day, but provided you have the strength to take the delivery. Don't hold a position in bank Nifty.

10:05 to 11:25- Ignore all recommendations. Wait for the market to open, says Ganesha. The market will drop from the point it opens, thus it will follow an up-down pattern.

11:25 to 13:25- The market trend is likely to move step-by-step in the upward direction, except when there is a Nifty breakout. But the weightage is less, so don't get your hopes high and keep on exiting.

13:25 to 14:45- The graph of trends at Nifty will form a W, so close watch Nifty's behaviour before making a decision.

14:45 to 15:30- The weightage for this line is around -0.01, which is close to zero. So, don't expect earth shattering profits at Nifty. Keep on jobbing if you still want to trade at Nifty.
Read Disclaimer:

South Asian Petrochem Ltd

DTIL, DIML, SAPL, DPL, Stock in News, Stock CUES, South Asian Petrochem Ltd, share price

Dhunseri Tea & Industries Ltd ('DTIL') has informed BSE that the Board of Directors of the Company at its meeting held on December 15, 2009, inter alia, have approved of a Scheme of Arrangement between DTIL, DI Marketing Ltd ('DIML'), South Asian Petrochem Ltd ('SAPL') and Dhunseri Polycarbonate Ltd. ('DPL') and their respective shareholders entailing demerger and amalgamation from April 01, 2009 ('the Appointed Date') as under: The demerger will be followed by Amalgamation of SAPL and DPL with DTIL as part of the Scheme. In consideration of the amalgamation, DTIL will issue and allot to the shareholders of SAPL, One (1) Equity Share of Rs. 10/- each in DTIL credited as fully paid up for every Ten (10) Equity Shares of Rs. 10/- each fully paid-up held by them in the capital of SAPL. The shares of SAPL in lieu of which such new shares in DTIL shall be issued in consideration of the amalgamation shall include the shares constituting 50.21% of the total equity of SAPL transferred to DIML as part of the demerger. Such new shares in DTIL shall be accordingly allotted to DIML. In terms of the Scheme, the demerger and transfer of the Demerged Undertaking of DTIL to DIML shall be deemed to have taken place and come into effect prior to amalgamation of SAPL and DPL with DTIL. No shares shall however be issued in lieu of the shares of DPL since all shares issued by DPL are held by and between DTIL and SAPL and the entire share capital of DPL shall stand cancelled upon the Scheme becoming effective. The Scheme is subject to and conditional upon the requisite approvals being received therefor, including approval of shareholders and sanction of the Hon'ble High Court at Calcutta pursuant to Sections 391 to 394 of the Companies Act, 1956. Accordingly, the Scheme although operative from the Appointed Date shall come into effect on the Effective Date, being the date or last of the dates on which certified copies of the orders sanctioning the Scheme are filed by DTIL, DIML, SAPL and DPL with the Registrar of Companies. South Asian Petrochem Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 15, 2009, inter alia, have approved of a Scheme of Arrangement between Dhunseri Tea & Industries Ltd ('DTIL'), DI Marketing Ltd ('DIML'), South Asian Petrochem Ltd ('SAPL') and Dhunseri Polycarbonate Ltd ('DPL') and their respective shareholders entailing demerger and amalgamation from April 01, 2009 ('the Appointed Date').

Arrangement between Dhunseri Tea & Industries Ltd DTIL, DI Marketing Ltd ('DIML'), South Asian Petrochem Ltd ('SAPL') and Dhunseri Polycarbonate Ltd.

DTIL, DIML, SAPL, DPL,Stock in News, Stock CUES, stock advice,

Dhunseri Tea & Industries Ltd ('DTIL') has informed BSE that the Board of Directors of the Company at its meeting held on December 15, 2009, inter alia, have approved of a Scheme of Arrangement between DTIL, DI Marketing Ltd ('DIML'), South Asian Petrochem Ltd ('SAPL') and Dhunseri Polycarbonate Ltd. ('DPL') and their respective shareholders entailing demerger and amalgamation from April 01, 2009 ('the Appointed Date') as under: The demerger will be followed by Amalgamation of SAPL and DPL with DTIL as part of the Scheme. In consideration of the amalgamation, DTIL will issue and allot to the shareholders of SAPL, One (1) Equity Share of Rs. 10/- each in DTIL credited as fully paid up for every Ten (10) Equity Shares of Rs. 10/- each fully paid-up held by them in the capital of SAPL. The shares of SAPL in lieu of which such new shares in DTIL shall be issued in consideration of the amalgamation shall include the shares constituting 50.21% of the total equity of SAPL transferred to DIML as part of the demerger. Such new shares in DTIL shall be accordingly allotted to DIML. In terms of the Scheme, the demerger and transfer of the Demerged Undertaking of DTIL to DIML shall be deemed to have taken place and come into effect prior to amalgamation of SAPL and DPL with DTIL. No shares shall however be issued in lieu of the shares of DPL since all shares issued by DPL are held by and between DTIL and SAPL and the entire share capital of DPL shall stand cancelled upon the Scheme becoming effective. The Scheme is subject to and conditional upon the requisite approvals being received therefor, including approval of shareholders and sanction of the Hon'ble High Court at Calcutta pursuant to Sections 391 to 394 of the Companies Act, 1956. Accordingly, the Scheme although operative from the Appointed Date shall come into effect on the Effective Date, being the date or last of the dates on which certified copies of the orders sanctioning the Scheme are filed by DTIL, DIML, SAPL and DPL with the Registrar of Companies.

ETC Networks Ltd acquisition of Cornershop Entertainment Company Pvt. Ltd.,

ETC Networks, Cornershop Entertainment Company,Acquisition , Buzzing Stock, Stock CUES, stock advice, Stock in News,

ETC Networks Ltd acquisition of 100% equity stake in Cornershop Entertainment Company Pvt. Ltd.,

ETC Networks Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 17, 2009, has considered and approved acquisition of 100% equity stake in Cornershop Entertainment Company Pvt. Ltd., which is into the animation business. Further, post such acquisition the Board of Directors of the Company has also considered and approved a Scheme of Amalgamation under Section 391-394 of the Companies Act, 1956 of Cornershop Entertainment Company Pvt. Ltd., together with its wholly owned subsidiaries i.e. Cornershop Animation Company Pvt. Ltd., Digital Media Convergence Ltd. and Re-Med Services Pvt. Ltd. with the Company as on the appointed date January 01, 2010. Since all the above amalgamating Companies are direct / indirect wholly owned subsidiaries of the Company, no shares would be issued by the Company pursuant to the scheme of Amalgamation. The said Scheme of Amalgamation shall be subject to the approval of the shareholders of the transferor Companies, the approval of jurisdictional High Court(s) and requisite consent and approval of the statutory and regulatory authorities as may be required for the implementation of the Scheme.

Shirpur Gold Refinery Board of Directors meeting on December 15, 2009,

Shirpur Gold Refinery. Shirpur Gold Refinery Problem. Shirpur Gold Refinery Board Meeting, Shirpur Gold Refinery stock price, Shirpur Gold Refinery share price

Shirpur Gold Refinery Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 15, 2009, inter alia, has considered and approved the Scheme of Arrangement between Kala Kosh Auctions Pvt Ltd ('Kala Kosh') and Shirpur Gold Refinery Ltd ('Shirour Gold' or 'the Company') and their respective Shareholders and Creditors ('Scheme') under sections 391 to 304 of the Companies Act, 1956. The salient features of the Scheme are as under:
1. The Scheme envisages the amalgamation of Kala Kosh with Shirpur Gold with effect from the Appointed Date i.e. April 01, 2009.
2. The share exchange ratio will be 152 (One Hundred Fifty Two) fully paid equity shares of Rs. 10 each of Shirpur Gold for every 100 (One Hundred) equity shares of Rs. 10/- each of Kala Kosh based on the valuation done by the independent valuers M/s. BDO Consulting Pvt. Ltd. and fairness opinion issued by the Independent merchant bankers M/s. Fortune Financial Services (India) Ltd.
3. The Scheme is subject to requisite consent, approval of the requisite majority of the shareholders of the companies, the Hon'ble High Court of Judicature at Bombay, the permission or approval of any other statutory or regulatory authorities, which by law may be necessary for the implementation of the Scheme.

Zandu Pharma Decline | Zandu Pharmaceutical breakout| Zandu Pharma Price Chart

Zandu Pharma Share Decline | Zandu Pharma Share Price | Zandu Pharma Live Quotes | Zandu Pharma BSE Code | Zandu Pharma NSE Symbol | Zandu Pharma Price Chart | Zandu Pharmaceuticals Works | stock prices | F&O Qoute | Zandu Pharma Historic price charts | NSE | BSE

After the storm of sharp up move, comes the consolidation period which is characterized by small downside pressure with in a tight narrow range as show in chart attached above. This consolidation phase is driven on the back of declining volumes. Next stage is breakout on the upside as continuation of the prior trend.

The last stage is a breakout from the consolidation zone as continuation on the trend established prior to consolidation. Even this last stage can be as furious and fast as the breakout witnessed during the formation of the prior Flag pole marked before consolidation. The length and ‘likely targets’ for the 2nd Flag pole could be as big as the price movement witnessed during the 1st Flag pole.

Sensex trades higher; Bharti, SAIL, Tata Steel top gainers

continuous buying in telecom, metal, banking, power, realty and select auto stocks along with heavyweights RIL & L&T was helping the Sensex to maintain about 100 points gains. However, selling in select stocks like technology, cement stocks along with ONGC, BHEL and Ranbaxy Labs capped the gains to some extent, which was also adding some volatility.

The market breadth was positive; about 1,840 shares advanced while 1,072 shares declined on the BSE. Nearly 526 shares were unchanged. Among the broader indices, the BSE Midcap rose 0.8% and Smallcap up 1%.

The 30-share BSE Sensex was trading at 16,703, up 102 points and the Nifty was at 4,985, up 32 points. European markets were also trading higher in early trade.

Buy Call Hindalco Industries at Rs 125: Technical Analyst, Sudarshan Sukhani.

Buy Hindalco Industries at Rs 125: Technical Analyst, Sudarshan Sukhani. Buzzing Stock, stock advice, Stock CUES, Stock in News, Buy Call, Target,Recommended price
Buy Hindalco Industries at Rs 125,
says Technical Analyst, Sudarshan Sukhani.
Sukhani told CNBC-TV18, "Hindalco and Nalco had gone up. Hindalco had rallied a lot. It was going up even when the Nifty was falling. I think that part or that period is over. Somewhere around Rs 125, the stock would probably become a buying opportunity again. So you just have to be a little patient."

Aban Offshore repays Rs 800cr Norwegian debt

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Aban Offshore touched an intraday high of Rs 1,216.70 and an intraday low of Rs 1,165. At 12:09 pm, the share was quoting at Rs 1,210.30, up Rs 49.85, or 4.30%.

The company has repaid Rs 800 crore Norwegian debt with interest, reports CNBC-TV18.

It was trading with volumes of 361,144 shares. Yesterday the share closed down 0.52% or Rs 6.05 at Rs 1,160.45.

Share Price Movement During The Last 12 Months
Period	Price	Latest Price	Gain/Loss (Rs.)	% Gain/Loss
3-Days	1176.05	1210.30	34.25	2.91
5-Days	1241.60	1210.30	-31.30	-2.52
7-Days	1230.40	1210.30	-20.10	-1.63
15-Days	1300.75	1210.30	-90.45	-6.95
1-Month	1369.00	1210.30	-158.70	-11.59
3-Month	1592.70	1210.30	-382.40	-24.01
6-Month	850.55	1210.30	359.75	42.30
9-Month	308.00	1210.30	902.30	292.95
1-Year	751.80	1210.30	458.50	60.99

Tata Steel top gainer on the Sensex : Tue, Dec 22, 2009

Top Gainers, Sensex, Buzzing Stock, stock advice, Tata Steel, Stock CUES, Stock in News,
Tata Steel was the top gainer on the Sensex

At 12:13 pm, Tata Steel was the top gainer on the Sensex. It touched an intraday high of Rs 574.45 and an intraday low of Rs 558.15. The share was quoting at Rs 572.55, up Rs 17, or 3.06%.

It was trading with volumes of 1,362,985 shares. Yesterday the share closed down 1.36% or Rs 7.65 at Rs 555.55.

Share Price Movement During The Last 12 Months
Period	Price	Latest Price	Gain/Loss (Rs.)	% Gain/Loss
3-Days	557.55	572.55	15.00	2.69
5-Days	544.65	572.55	27.90	5.12
7-Days	545.60	572.55	26.95	4.94
15-Days	583.35	572.55	-10.80	-1.85
1-Month	546.90	572.55	25.65	4.69
3-Month	518.05	572.55	54.50	10.52
6-Month	389.00	572.55	183.55	47.19
9-Month	176.30	572.55	396.25	224.76
1-Year	222.10	572.55	350.45	157.79

More steam left in Dish TV: Technical Analyst, Sudarshan Sukhani.

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More steam left in Dish TV, says Technical Analyst, Sudarshan Sukhani.

Sukhani told CNBC-TV18, "Dish TV has been bouncing up and down and then it has seen a good rally. I think there is some more steam left in the stock. If you are a high beta player and if you want to take aggressive bets then Dish TV is a long side play."

He further added, "Zee Entertainment Enterprises gives the impression that the worst is over and it is likely to be an investment idea rather than a trading idea. You want to buy them on dips."

Sasken Comm hits 52-week high

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Sasken Communication Technologies has touched a 52 week high of Rs 200.40. At 1:01 pm, the share was quoting at Rs 198.90, up Rs 14.40, or 7.80%. It has touched an intraday high of Rs 200.40 and an intraday low of Rs 187.

It was trading with volumes of 1,267,271 shares, compared to its five-day average of 434,139 shares, an increase of 191.90%.

Yesterday the share closed up 2.50% or Rs 4.50 at Rs 184.50.

Share Price Movement During The Last 12 Months
Period	Price	Latest Price	Gain/Loss (Rs.)	% Gain/Loss
3-Days	176.15	198.90	22.75	12.92
5-Days	173.50	198.90	25.40	14.64
7-Days	175.50	198.90	23.40	13.33
15-Days	166.40	198.90	32.50	19.53
1-Month	149.00	198.90	49.90	33.49
3-Month	165.00	198.90	33.90	20.55
6-Month	96.35	198.90	102.55	106.43
9-Month	53.35	198.90	145.55	272.82
1-Year	62.25	198.90	136.65	219.52

Daryl Guppy: Tata Motors has target of Rs 850

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Tata Motors has target of Rs 850, says Daryl Guppy, Founder & Director of guppytraders.com.

Guppy told CNBC-TV18, "In Tata Motors the initial target is Rs 850. But that just an initial target, the strength in the trend can carry price much beyond that level."

At 11:28 am, the share was quoting at Rs 729.80, up Rs 3.50, or 0.48% with volumes of 158,890 shares. Its marketcap is Rs 37,523.27 crore. Currently it is 479.21% above the 52-week low of Rs

Share Price Movement During The Last 12 Months
Period	Price	Latest Price	Gain/Loss (Rs.)	% Gain/Loss
3-Days	709.05	729.80	20.75	2.93
5-Days	710.45	729.80	19.35	2.72
7-Days	710.95	729.80	18.85	2.65
15-Days	705.40	729.80	24.40	3.46
1-Month	646.20	729.80	83.60	12.94
3-Month	598.95	729.80	130.85	21.85
6-Month	328.60	729.80	401.20	122.09
9-Month	176.45	729.80	553.35	313.60
1-Year	173.60	729.80	556.20	320.39

Support for the Nifty at 4850: Technical Analyst, Prakash Gaba

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Nifty (4953): We said ‘The market still looks weak and can come down to around 4850 levels’. Interestingly our support on the Nifty of 4950 and on Sensex of 16600 has been achieved. So far the market does not display any strength. But the market can bounce back as the market is stretched on the downside.

The crucial support on the downside for the Nifty is 4850 and resistance at 5000.