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Market Review for 11th June 2009

Posted on: Wednesday, June 10th 2009 and is filed under Market Outlook.

BSE Sensex: (15467) the market was UP as expected and so far it does give any sign of weakness but the market is close to a very resistance zone and so I have not be surprised if profit booking comes in…caution is the order of the day and crucial support to watch is 15400 The support f...

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NMDC to acquire stake in Kudremukh Iron Ore

Posted on: Wednesday, June 10th 2009 and is filed under Stock News.

MUMBAI (Reuters) – State-owned NMDC Ltd will acquire a majority stake in Kudremukh Iron Ore Co Ltd (KIOCL), federal steel minister Virbhadra Singh said on Wednesday. “This partnership acquisition will ensure continuous supply of iron ore to KIOCL from NMDC,” he told re...

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Hold Aditya Birla; target of Rs 968: Sharekhan

Posted on: Wednesday, June 10th 2009 and is filed under Brokerage Recommendations.

Sharekhan has downgraded its rating on Aditya Birla Nuvo to hold with a price target of Rs 968 in its report dated June 9, 2009. “Aditya Birla Nuvo Ltd’s (ABN) board of directors has decided to issue 1.85 crore warrants worth Rs ...

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Fame India a marketperformer: Karvy

Posted on: Wednesday, June 10th 2009 and is filed under Brokerage Recommendations.

Karvy Stock Broking has maintained its marketperformer rating on Fame India with a price target of Rs 26 in its June 10, 2009 research report. “Net sales of the company grew by 33% YoY (lower than our expectations of 41% YoY) and sto...

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Buy Patel Engg, target of Rs 550: Fairwealth Sec

Posted on: Wednesday, June 10th 2009 and is filed under Brokerage Recommendations.

Fairwealth Securities has maintained its buy rating on Patel Engineering with a price target of Rs 550 in its report dated June 8, 2009. “Patel Engineeringn(PE) registered steady growth in 3QFY2009. Consolidated Sales of the comp...

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Satyam faces claims worth Rs 10,000 cr

Posted on: Wednesday, June 10th 2009 and is filed under Stock News.

New Delhi: Euphoria over the Rs 181 crore net profit in October-December 2008 notwithstanding, Satyam is still not out of the woods as it faces legal and other claims that could put a burden of up to Rs 10,000 crore on it. These include claims worth about Rs 400 crore related to four over...

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Stock market seems to be quite bullish: says FM

Posted on: Wednesday, June 10th 2009 and is filed under Market News.

I hope that the impact of various pro-growth measures would help to turn around the economy soon: FM Following is the text of speech of Finance Minister Shri Pranab Mukherjee at the meeting of Chief Executives of Public Sector Banks/Financial Institutions. “I am pleased to meet you al...

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Global oil reserves fall for 1st time in decade: BP

Posted on: Wednesday, June 10th 2009 and is filed under Press Releases.

Oil reserves totaled 1.258 trillion barrels at the end of 2008, compared with a revised 1.261 trillion barrels a year earlier, BP said in its annual Statistical Review of World Energy. oil_reserves BP Plc said on Wednesday that the global proved oil reserves fell last year, the first dr...

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RIL allots 21,173 shares to employees under ESOS

Posted on: Wednesday, June 10th 2009 and is filed under Stock News.

Diversified business conglomerate Reliance Industries (RIL) today said it has allotted 21,173 equity shares to its employees under the Employees Stock Option Scheme (ESOS). The company has allotted 21,173 shares of Rs 10 each to its employees on June 1, RIL said in a filing to the Bom...

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DSP Blackrock MF bullish on infrastructure space

Posted on: Wednesday, June 10th 2009 and is filed under Stock Views.

Anup Maheshwari of DSP Blackrock MF is bullish on infrastructure space. Maheshwari told CNBC-TV18, “It is safe to say there is some exuberance in infrastructure sector. We are very bullish on infrastructure, we have a fund as well there but valuations are running a little ahead of ...

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