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Centre eases borrowing rules for states

Posted on: August 20th, 2009 and is filed under Press Releases.

This will enable the States to borrow up to 4% of their respective Gross State Domestic Product (GSDP) during 2009-10 The States will have to suitably amend their respective fiscal responsibility legislation if so required The Union Cabinet on Thursday approved the relaxation of the Deb…

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Adani Power shares make disappointing debut

Posted on: August 20th, 2009 and is filed under Stock News.

MUMBAI: Shares in Adani Power bounced around the issue price of 100 rupees after a shaky opening for India’s first large IPO in 18 months, a performance that may prompt other listing hopefuls to lower their valuation expectations. At 0529 GMT, shares in Adani Power, which raised $…

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Intraday calls for 20-08-09

Buy Hindustan Dorr-Oliver at 133.50, target: 138. Stoploss: 131. If markets show weakness later during the day, Sell: Reliance Industries (below 1870) …

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Bitter truth: India drought may trigger world sugar crisis

Posted on: August 20th, 2009 and is filed under Market News.

Beijing: India has enough grain stocks to ride out an expected poor harvest, but the failure of the monsoon adds to global uncertainty about food and grain stocks, the head of an agricultural think tank said on Wednesday. India’s monsoon rains have been 29 per cent below normal sin…

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What the technical charts say?

Posted on: August 19th, 2009 and is filed under Stock Research.

MUMBAI: Ispat Industries has seen two consecutive days of bearish sticks and the stock below the 20-day Daily Moving Average (DMA) levels yesterday. A close below 20-day DMA levels indicates weakness in a stock. Here are few more technical details about the stock and nine others. Ispat…

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Bullish on BGR Energy, Sadbhav Engg: Asian Markets Sec

Posted on: August 19th, 2009 and is filed under Stock Views.

Kamlesh Kotak, Vice President Research, Asian Markets Securities said, BGR Energy was doing phenomenally well because of that captive equipments manufacturing, 50% of the products were manufactured in house. He said, BGR Energy was enjoying around 6% of PAT margins. “We have a target of…

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Adani Power may surge 10-30% over issue price on listing day

Posted on: August 19th, 2009 and is filed under Stock News.

Adani Power, whose IPO lit up the country’s primary market space with good response from investor, is expected to surge in the range of 10-30 per cent over its issue price of Rs 100 when the company lists its shares on bourses tomorrow, experts say. “The pricing of the IPO wa…

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Shanghai shocker stuns Sensex

Posted on: August 19th, 2009 and is filed under Market News.

Sensex slipped 225 points or 1.5% at 14,809 while, Nifty ended lower by 65 points to shut shop at 4,394. Indian markets ended in the red erasing previous day’s gains led by selling in the Oil & Gas, Metal, Auto and Power stocks. Markets cracked after Mainland China’s top sto…

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Sensex extends losses post 5% fall in Shanghai

Posted on: August 19th, 2009 and is filed under Market News.

At 12:20 hours IST, the Sensex extended losses and came closer to Monday’s closing value. Today’s fall could be attributed to Shanghai, which lost over 5% after weak earnings and policy disappointment. Maanshan Steel, China’s fourth largest listed steelmaker plunged 6.9% in…

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Intraday calls for 19-08-09

Sell Tata motors at 440-442, target: 430. Stoploss: 446 If markets show recovery later during the day, buy: Tata Power. …

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