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Market Review for 27th February 2009

Posted on: Thursday, February 26th 2009 and is filed under Market Outlook.

BSE Sensex: (8955) the market has unfolded yet again volatile and directionless and has not displayed any signs of direction so far…the market has some supports near 8750 levels but by and large it is direction less… ...

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ONGC to sell 19% in chemical venture to Gail

Posted on: Thursday, February 26th 2009 and is filed under Stock News.

GAIL is seeking a 26 % stake in the venture, said the company. ONGC has agreed to sell a 19% stake in its chemical venture to GAIL India. GAIL is seeking a 26 % stake in the venture, said the company. Gail also announced that it would supply regasified gas to 4 fertilizer units and would...

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Tata Steel an outperfomer: HDFC Securities

Posted on: Thursday, February 26th 2009 and is filed under Brokerage Recommendations.

HDFC Securities has maintained its outperfomer rating on Tata Steel with a target price of Rs 224 in its February 26, 2009 research report. “Government has announced 2% reduction in excise duty, thereby lowering the tax impact on steel products from 10% to 8%. The duty cut will brin...

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Buy Vesuvius India: Angel Broking

Posted on: Thursday, February 26th 2009 and is filed under Brokerage Recommendations.

Angel Broking has maintained its buy rating on Vesuvius India in its February 26, 2009 research report. esuvius India’s (Vesuvius) Top-line declined 8.5% yoy during 4QCY2008 to Rs 82.2 crore (Rs 89.8 crore). ...

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Reduce Ranbaxy Laboratories, target of Rs 168: KRChoksey

Posted on: Thursday, February 26th 2009 and is filed under Press Releases.

KRChoksey has maintained its reduce rating on Ranbaxy Laboratories with a price target of Rs 168 in its February 25, 2009 research report. “The US Food and drug Administration (USFDA) has announced that it has stopped reviewing drug from the facility owned by Ranbaxy, an Indian drug...

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Sell Hindalco, target of Rs 32: Reliance Money

Posted on: Thursday, February 26th 2009 and is filed under Brokerage Recommendations.

Reliance Money has recommended a sell rating on Hindalco Industries with a target price of Rs 32 in its February 26, 2009 research report. “Hindalco reported Net Sales Revenues of Rs 41.2 billion (YoY decline of 9.1%), an EBIDTA of Rs 7.8 billion (YoY cut of 2.7%) and profit after t...

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Angel Broking neutral on Tata Motors

Posted on: Thursday, February 26th 2009 and is filed under Brokerage Recommendations.

Angel Broking has maintained its neutral rating on Tata Motors and Ashok Leyland in its February 26, 2009 research report. “Commercial Vehicle (CV) manufacturers have proposed price cuts following the government slashing Excise Duty. ...

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Nifty has resistance at 2790-2810: ICICIdirect.com

Posted on: Thursday, February 26th 2009 and is filed under Brokerage Recommendations.

According to ICICIdirect.com’s report, the Nifty has supports at 2730 and 2700 and resistances at 2790 and 2810. ICICIdirect.com’s report: Indian markets are likely to open flat on the back of mixed global cues. Asian markets were on the advance in the morning despite a fall ...

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Inflation at 15-month low of 3.36%

Posted on: Thursday, February 26th 2009 and is filed under Press Releases.

Inflation declined to about a 15-month low of 3.36 per cent mainly due to fall in the prices food articles like fruit and vegetables, pulses, and some manufactured items, raising hopes of cuts in the key policy rates by the RBI. ...

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Tata Motors gains 2.6% on Nano launch announcement

Posted on: Thursday, February 26th 2009 and is filed under Stock News.

MUMBAI: Shares of Tata Motors rose on Thursday on reports that the company would be launching its most awaited low-cost car Nano later in March. Tata Motors said the Tata Nano will be launched in Mumbai on March 23. The car drew global attention for being the cheapest at around Rs 100,00...

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