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Alkali metals surges 63% after discount listing

Posted on: Thursday, November 6th 2008 and is filed under Stock News.

MUMBAI: Alkali Metals recovered from a weak listing to surge 63 per cent to Rs 167.85 on the BSE at 1:02 pm on Thursday. The high so far is Rs 169.70.The stock had listed at Rs 90, a discount of 12.62 per cent to its issue price of Rs.103 per share. The company had come out with 1.01 cror...

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Intraday calls for 06-11-08

Markets likely to see a gap down opening. Short sell: Tata Communications. If markets show recovery later during the day, buy: Aban Offshore. ...

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Sensex, Nifty ends 5% lower

Posted on: Wednesday, November 5th 2008 and is filed under Market News.

MUMBAI: Benchmarks ended sharply lower on Wednesday as selling emerged in frontline stocks. Reliance Industries was the worst hit after reports that the company shut five of its seven polyester and petrochemical units at Patalganga near Mumbai. Bombay Stock Exchange’s Sensex closed at 1...

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BNP Paribas Q3 profit slides 56% YoY

Posted on: Wednesday, November 5th 2008 and is filed under Stock News.

In all, the financial crisis cost the French major about €1.7bn in provisions and asset writedowns, excluding €123mn of gains from its own debt BNP Paribas said on Wednesday that its third-quarter profit slumped 56%, as provisions for risky loans shot up in the wake of the collapse of...

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Over half of 1,600 stocks trading below book value

Posted on: Wednesday, November 5th 2008 and is filed under Market Outlook.

The stock market crash is defying all conventional wisdom of valuations. Despite the relief rally over last few days, a large no of companies are still trading below their book value which means their market capitalisation is less than their net worth. Put simply, if you could buy these c...

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RIL closes 5 units at Patalganga: report

Posted on: Wednesday, November 5th 2008 and is filed under Stock News.

he move aims at improving the profit margin amid falling demand for polyester products worldwide Reliance Industries (RIL) has reportedly shut down five of its seven polyester and petrochemical units at Patalganga. The move aims at improving the profit margin amid falling demand for polye...

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ArcelorMittal Q3 net income up 29% YoY

Posted on: Wednesday, November 5th 2008 and is filed under Stock News.

ArcelorMittal Q3 net sales up 38% yoy to US$35.2bn. EBITDA of US$8.6bn, up 76% compared with Q307. ArcelorMittal, the world’s leading steel company, has announced results for the three and nine-month periods ended September 30, 2008. Highlights for the three months ended September 30, 2...

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Sept FDI inflows rise 259% to US$2.56bn

Posted on: Wednesday, November 5th 2008 and is filed under Market News.

The FDI equity inflows during April-September 2008 have been US$17.21bn. This represents a growth of 137% over the previous year. The Foreign Direct Investment (FDI) equity inflows in the month of September, 2008 were US$2.56bn.This represents a growth of 259% over the same month in the p...

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IVRCL Infra rallies as promoters hike stake

Posted on: Wednesday, November 5th 2008 and is filed under Stock News.

Shares of IVRCL Infra have rallied by over 20% to Rs146 after the promoters of the company purchased ~29,500 equity shares of the company through open markets in the month October. The scrip has touched an intra-day high of Rs152 and a low of Rs126 and has recorded volumes of over 50,00,0...

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Intraday calls for 05-11-08

Since Obama has been elected US president we might see some profit booking in markets all over. At higher levels short sell: Reliance Industries and RPL. ...

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