Sharekhan has advised investors to book profit in Aban Offshore in its June 11, 2009 research report. “ERHC Energy Inc (ERHC) has informed that the contract for Aban Abraham, the deepwater oil rig of Aban Offshore, with Addax has been cancelled. The rig was contracted for a period …

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Sharekhan has recommended a buy rating on Tata Tea with a target price of Rs 853 in its June 10, 2009 research report. “Tata Tea’s Q4FY2009 numbers (derived from FY2009 and M9FY2009 numbers) are below our expectations. The top line grew by 9.4% year on year (yoy) to Rs 1,226.1 c…

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Reliance Money has recommended a buy rating on Orchid Chemicals and Pharmaceuticals with a target price of Rs 176 in its June 12, 2009 research report. “Orchid Chemicals & Pharmaceuticals (Orchid) is an integrated pharmaceutical company with core competencies in the cephalospo…

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Nirmal Bang has recommended a buy rating on ITC with a target price of Rs 250 in its June 10, 2009 research report. “At the CMP of Rs 194 per share, the stock is currently trading at a PE of 17.1x FY10E & 14.6x FY11E, which looks quite attractive when compared to the peers in …

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Reliance Money recommended a sell rating on National Aluminium Company (NALCO) with a target price of Rs 287 in its June 12, 2009 research report. “National Aluminium Co. Ltd. (Nalco) has delivered its worst ever performance in last 16 quarters – courtesy low LME Aluminium pr…

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HONG KONG/MUMBAI: While investors hope that consumer spending growth in China will eventually balance its export dependence, in the short term it is India that presents more opportunity. Economists crow over the long-term domestic growth prospects in both emerging Asian giants, which is …

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MUMBAI: The National Stock Exchange (NSE) has received in-principle approval from the Bombay Stock Exchange (BSE) to develop a solution that would allow NSE/BSE brokers to trade on multiple exchanges. This would enable simultaneous trading in NSE and BSE-listed companies, said persons fam…

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Sensex slipped 173 points or 1.3% to end at 15,238 while Nifty slipped 61 points or 1.3% to shut shop at 4,576. Indian markets faltered for the second straight trading session on Friday led by selling in the interest rate sensitive stocks. Even the Mid-Cap and the Small-Cap stocks witnes…

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NEW DELHI: Anil Ambani group firm Reliance Infratel is looking to raise about Rs 5,000 crore (close to one billion dollars) through sale of shares, for which it is in talks with a number of private equity firms. Reliance Infratel, a subsidiary of the group’s telecom arm RCOM, is lo…

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Hemen Kapadia of Chartpundit.com is of the view that Tata Communications has strong support at Rs 462. Kapadia told CNBC-TV18, “I have a hold on Idea cellular because we had an intermediate uptrend. The indicators are supporting it move. It is above short and medium term moving av…

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