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Most India funds outpace Sensex since March 9

Posted on: Sunday, May 24th 2009 and is filed under Market News.

Out of 150 India equity funds, 89 have outperformed Sensex.International equity funds for India have seen an appreciation of almost 74 per cent in the total value of their assets between March 9 and now, according to data collected from Bloomberg. The total assets of these funds increase...

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Small, mid-cap indices outperform Sensex in FY10 so far

Posted on: Sunday, May 24th 2009 and is filed under Stock Views.

MUMBAI: Midcap and small cap indices have outperformed the benchmark Sensex in this fiscal so far, giving 20 per cent more returns than the blue chip stock index. The BSE Midcap index which comprise 222 companies has given nearly 61 per cent returns so far in 2008-09 and the Small cap i...

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HDIL to raise Rs 2,880 crore in QIP

Posted on: Sunday, May 24th 2009 and is filed under Stock News.

Housing Development & Infrastructure Ltd (HDIL), a Mumbai-based property developer, will sell shares worth $600 million (Rs 2,880 crore) to institutional buyers to reduce debt on its books, a top company official has said. The move comes in the wake of nearly 33 per cent rise in the...

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10,000 excess staff in Satyam, says new owner

Posted on: Sunday, May 24th 2009 and is filed under Press Releases.

Satyam Computer Services’ has more than 10,000 excess staff, new owner Tech Mahindra said on Friday, and the fraud-hit outsourcer’s chairman said revenues remained on a downward slope. Vineet Nayyar, the chief executive of Tech Mahindra which last month won an auction for a controlli...

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Buy Nestle India: Motilal Oswal

Posted on: Sunday, May 24th 2009 and is filed under Brokerage Recommendations.

Motilal Oswal has maintained its buy rating on Nestle India, in its report dated May 18, 2009. “In 1QCY09, Nestle India reported 10.7% (11.8% excluding discontinued products) growth in domestic volumes and 25% decline in export volumes as against overall volume growth of 16.9% in C...

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Buy ABB: Indiabulls Securities

Posted on: Sunday, May 24th 2009 and is filed under Brokerage Recommendations.

Indiabulls Securities Research has upgraded its rating on ABB from hold to buy, in its May 21, 2009 research report. “ABB Limited (India)’s revenues declined 9.2% yoy to Rs 14.1 billion in Q1’09 on account of weak order execution. Net profit of the Company was Rs 784 million, 3...

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Buy Godrej Consumer Products: Motilal Oswal

Posted on: Sunday, May 24th 2009 and is filed under Brokerage Recommendations.

Motilal Oswal has recommended a buy rating on Godrej Consumer Products, in its report dated May 19, 2009. “Godrej Consumer Products net sales grew 26% YoY to Rs 3.4 billion (v/s our estimate of Rs 3.1 billion). Gross margin declined 850bp YoY to 49.1% (up 760bp QoQ). However, lower...

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Hold Bajaj Auto; target of Rs 985: KRChoksey

Posted on: Sunday, May 24th 2009 and is filed under Brokerage Recommendations.

KRChoksey has maintained its hold rating on Bajaj Auto with a price target of Rs 985, in its reports dated May 21, 2009. “Bajaj Auto Ltd (BAL) reported net sales of Rs 1,883 crore which is below our estimates of Rs 1978 crore mainly on account of 22% decline in the volumes of two w...

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Buy Torrent Pharma; target of Rs 210: Karvy

Posted on: Sunday, May 24th 2009 and is filed under Brokerage Recommendations.

Karvy Stock Broking has maintained its buy rating on Torrent Pharmaceuticals with a price target of Rs 210, in its report dated 20 May, 2009. “The net revenues for the quarter delivered decent growth of 24.3% y-o-y to Rs 4050 million compared to our estimates at Rs 3768 million mai...

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No country for small investors!

Posted on: Sunday, May 24th 2009 and is filed under Stock Views.

In a country where the ‘aam admi’ almost invariably gets a raw deal, Midas Touch Investors Association stands out as an exception. The Kanpur-based NGO has long championed the cause of small investors. It fought on their behalf against ‘vanishing companies’ (companies that took in...

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