CMP: Rs 882.90 Target price: Rs 630 Goldman Sachs has reiterated its ‘sell’ rating on ONGC with a 12-month target price of Rs 630, citing regulatory uncertainty and muted volume growth as the main concerns. “We continue to believe that key positive catalysts for the stock, such a…

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Emkay Global Financial Services has reduced its rating on Bank of India to hold with a target price of Rs 260 in its May 08, 2009 research report. “Bank of India (BOI) reported a net profit of Rs 8.1 billion for Q4FY09 was in line with our expectations. However, the operating perfo…

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Emkay Global Financial Services has maintained its buy rating on Great Offshore with a price target of Rs 435 in its May 08, 2009 research report. “In a significant development, Bharati shipyard (BSL) has bought 14.89% @ Rs 315/share in Great Offshore, by acquisition of pledged sha…

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PINC Research has recommended a buy rating on Bhushan Steel with a price target of Rs 504 in its May 06, 2008 research report. “Bhushan Steel’s Q4FY09 results were above expectations as net sales declined marginally by 8% to Rs 12.1 billion. The decline was arrested by higher sal…

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Emkay Global Financial Services has downgraded its rating on Union Bank of India to accumulate from buy with a price target of Rs 170 in its May 08, 2009 research report. “Union Bank of India’s (UBI) reported net profit of Rs 4.7 billion for Q4FY09, decline of 10.8% yoy. Although…

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Emkay Global Financial Services has maintained its sell rating on Bharati Shipyard with a target price of Rs 79 in its May 08, 2009 research report. “Bharati Shipyard (BSL) has acquired 14.9% shares @ Rs 315 in Great Offshore (GOL) pledged with itself against a loan of Rs 2000 mill…

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PINC Research has recommended a buy rating on JSW Steel with a price target of Rs 525 in its May 08, 2009 research report. “JSW Steel (JSW) reported net sales of Rs 32.3 billion for Q4FY09, a YoY decline of 9%. The drop was primarily due to the 15% decline in average realisations a…

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PINC Research has recommended a sell rating on IVRCL Infrastructure and Projects with a price target of Rs 142 in its May 08, 2009 research report. “IVRCL’s order book as of March ’09 stands at Rs 135 billion (2.8x FY09E Revenues). While water supply & environmenta…

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NEW YORK (Reuters) – U.S. stocks rose on Friday, and the Nasdaq capped its longest stretch of weekly gains in a decade as stress test results and reassuring jobs data fueled hopes the worst is over for banks and the economy. …

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Topline in line with expectation: Biocon posted its Q4 FY09 numbers. The topline of the company grew at a robust rate of 76% to Rs 468 crore compared to Rs 266.6 crore. The bio pharma segment of Biocon recorded a growth of 86.6% to …

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