Archive for month: March, 2010

Kareena Kapoor turned down lucrative TV show offer

31 March, 2010 (19:22) | Bollywood Gossips, Songs and Music | By: Kamrul

Kareena Kapoor is perhaps one of the busiest actresses in Bollywood. Because of her business and packed schedule, she denied a lucrative offer approached by a TV channel. She denied the offer to star in her very own show on the small screen titled ‘Main Kareena Kapoor Banna Chahti Hoon’. It is not the first time she has been offered a television show. In the past, she was offered too but she hadn’t bitten the bait.

Bollywood queen is busy with films and endorsements. She has no time for television. Perhaps she will consider television after a year-and-a-half or two.

This year seven of her movies will be released. Now, she is busy with ‘Ra1’ film. After that, she will be working in ‘Golmaal 3’, ‘Agent Vinod’ with Saif Ali Khan. She has been cast along with Madhur Bhandarkar in an untitled film.

Kareena Kapoor would have to travel the whole India to communicate with Bollywood candidates if she had accepted the offer.

Most of the top stars in Bollywood have shifted to small screens. May be, Kareena Kapoor will follow their foot steps.

Related article:

TOTAL Filmy

 Kareena Kapoor turned down lucrative TV show offer   thelivedemo.com

U.S. still lags in broadband speed, and pays more, to boot

31 March, 2010 (17:12) | Songs and Music, Technology News | By: Technology Expert

It's bad enough the U.S. continues to lag behind many other countries in broadband speed, considering we (though not Al Gore) basically developed it. It's worse when you consider we pay more, and much more in some cases, for that "privilege."

The Akamai report covers the "State of the Internet 3rd Quarter, 2009." In that report, Akamai noted that the following countries are at the top.
  1. South Korea 14.6 Mbps, up 29% Q2-Q3, up 16 percent year-over-year
  2. Japan 7.9 Mbps, up 8.2 percent Q2-Q3, up 11 percent year-over-year
  3. Hong Kong 7.6 Mbps, up 10 percent Q2-Q3, 13 percent year-over-year
Meanwhile, not only is the U.S. in 18th place with 3.9 Mbps, it was up from Q2-Q3 1.8 percent, but down 2.4 percent year-over-year, not a good trend.

It wouldn't be so bad, perhaps, if the United States' slower connections were also cheaper. Not so, according to the Organization for Economic Cooperation and Development. The slower connection here in the U.S. costs about $45.52 per month on average, while in South Korea an average broadband bill runs about $28.52. That means South Koreans pay more than a third less, yet have broadband that's 3.75x faster than the U.S.

Many have pointed to the obvious fact for the reasons that the U.S. pays more and gets less: lack of competition. For most consumers, they can choose only between a cable company and a telephone company (DSL) when they sign up for broadband. In other countries, including South Korea, the list of choices is much higher.

Yochai Benkler, co-director of the Berkman Center for Internet and Society at Harvard Law School, said the following in a New York Times op-ed:
Affordability is the hard part — because there is no competition pushing down prices. The plan acknowledges that only 15 percent of homes will have a choice in providers, and then only between Verizon’s FiOS fiber-optic network and the local cable company. (AT&T’s “fiber” offering is merely souped-up DSL transmitted partly over its old copper wires, which can’t compete at these higher speeds.) The remaining 85 percent will have no choice at all.

[...] But without a strong commitment to open access, things will get worse. Because of the high price of laying their own next-generation fiber optics, would-be competitors like AT&T and Qwest have largely abandoned their goal of bringing fiber to the home, leaving the highest-speed tiers to the cable companies.

Ameron Reports First Quarter Results

31 March, 2010 (12:03) | Songs and Music, Stocks & Mutual Funds | By: Zander

Ameron International Corporation (AMN 67.39, -0.05, -0.07%) today reported net income of $1.1 million, or $.12 per diluted share, in the quarter ended February 28, 2010, compared to net income of $3.8 million, or $.41 per diluted share, in the quarter ended March 1, 2009. Consolidated sales totaled $109.0 million in 2010, compared to $146.0 million in 2009.
James S. Marlen, Ameron’s Chairman, Chief Executive Officer and President stated, “The first quarter is traditionally Ameron’s slowest quarter due to weather and holiday schedules. The first quarter of 2010 was no exception, as significant rainfall impacted production by the Water Transmission Group. The Company is typically able to recover weather-delayed sales in later periods. In addition to the normal softness of the first quarter, the Company’s businesses faced persistent and challenging market conditions. One bright spot was the Fiberglass-Composite Pipe Group which continued to generate outstanding results.”
The Fiberglass-Composite Pipe Group’s first-quarter sales and segment income totaled $54.5 million and $14.1 million, respectively, in 2010, down about 4% from 2009. Earnings from operations in the U.S. and Europe declined, while earnings from Asian operations improved. Earnings from operations in Brazil also slightly improved. First-quarter demand declined in key onshore oilfield, chemical and industrial market segments around the world. However, marine and offshore markets remained strong, sustained by new vessel construction at Asian shipyards. Looking forward, onshore oilfield demand appears to be strengthening; and backlogs are increasing as energy prices rise. Marine and offshore markets remain relatively healthy. The Fiberglass-Composite Pipe Group is expected to continue to be impacted by the economic environment in 2010 but may be seeing signs of improvement.
The Infrastructure Products Group had lower sales and segment income in the first quarter of 2010, due to soft economic conditions and the impact on residential and commercial construction markets. Sales and segment income of both the Pole Products and Hawaii Divisions were lower in 2010, compared to 2009. Sales declined $9.0 million, or 24%; while segment income declined $2.6 million, or 68%. Demand for aggregates and ready-mix on both Oahu and Maui fell as construction spending in Hawaii softened due to the recessionary economy. Military and governmental spending in Hawaii provided a stable base business; however, residential and commercial construction, including construction of timeshare units, resorts and high-rise condominium projects, was down. The State of Hawaii’s fiscal challenges and the lower level of tourism are expected to delay a recovery in Hawaiian construction. The U.S. residential housing market appears to have bottomed, and demand for Pole Products Division’s decorative concrete poles for residential lighting applications is stabilizing. However, a significant recovery of the residential market is not expected in the short term.
The Water Transmission Group was unprofitable on lower sales in the first quarter of 2010. Sales declined $25.7 million, or 50%. Neither the water pipe nor the wind tower businesses were profitable in 2010 as operating improvements were not able to overcome the lack of sales. Rainy weather impacted pipe production throughout the quarter. Wind tower sales declined in 2010 due to lack of demand. New tower orders remain elusive due to the inability of wind farm developers to obtain project financing. The water pipe business was also affected by the low bid activity in the water and wastewater markets in the western U.S. The lack of bid activity was due to tight municipal and state budgets, the lack of available project financing, and the timing of major water transmission pipelines. While a number of major wind tower and pipe projects are being followed and planning activities have increased, it remains uncertain when owners, water agencies and municipalities will proceed with these projects.
Sales of TAMCO (the Company’s 50%-owned mini mill in Southern California) increased slightly in 2010, compared to 2009, primarily due to accelerated purchases by customers anticipating pricing increases associated with higher scrap metal costs. Shipments in 2010 remain well below TAMCO’s production capacity. TAMCO’s net loss in the first quarter of 2010 totaled $1.7 million, compared to a loss of $5.2 million in 2009. Ameron’s share of TAMCO’s net loss was $.8 million after taxes in 2010, compared to a loss of $2.3 million in 2009. While the steel market appears to be firming in the U.S., demand for steel rebar in TAMCO’s key markets in the western states remains depressed. Given the low level of demand, TAMCO expects to continue to control costs and operate its plant intermittently as incoming orders and inventory levels warrant.
“We continue to focus on reducing costs to maximize profits in spite of the decline in sales. Profit margins were significantly higher in the first quarter of 2010, compared to the same period in 2009, because of Fiberglass-Composite Pipe operations. Looking forward, we believe that our three business segments are well positioned to take advantage of any uptick in demand. We remain optimistic that as the global economy recovers and stabilizes, the Company will capitalize on its strong market positions and achieve superior long-term results,” James S. Marlen concluded.
article source: marketwatch

Mid and smallcaps buck the trend

31 March, 2010 (12:00) | Songs and Music, Stocks & Mutual Funds | By: Zander

Indian markets lost all their early gains and joined to the list of losers in Asia by the close of the session today. Heavyweights across sectors including software, telecom, FMCG and commodities witnessed profit booking and dragged the indices lower.
Thus, while the BSE Sensex closed the day with losses in the region of 62 points (down 0.4%), NSE Nifty edged lower by around 13 points. The BSE Midcap and Smallcap indices, however, managed to buck the trend and ended higher by 0.3% and 0.5% today. Losses were also seen amongst most Asian markets today whereas Europe has also opened on a mixed note. The rupee was seen trading at Rs 44.9 to the dollar at the time of writing.
Crompton Greaves, a leading player in the power transmission and distribution (T&D) equipment and services business in India, has continued with its inorganic growth strategy. It has acquired UK-based electrical engineering firm Power Technology Solutions (PTS) for 30 million pounds (Rs 2 bn). This is the company’s sixth acquisittion since 2005. Crompton Greaves will gain significant consolidation in the engineering, procurement & maintenance (EPM) segment in UK and get access to newer markets. This acquisition is a step forward towards achieving the company’s revenue goal of US$ 8 bn by 2015. Crompton Greaves also has a good track record in turning around companies it has acquired.
Crompton’s earlier acquisitions include Belgian-based Pauwels, Hungary’s Ganz, Irish-based Microsol Holdings and Sonomatra of France. The acquisition of Pauwels (Belgium) in FY06 and Ganz (Hungary) in FY07 has catapulted Crompton Greaves to be amongst the top ten T&D equipment companies in the world. These inorganic growth initiatives formed an important phase of Crompton Greaves’ restructuring strategy, as the company planned to chart out a global presence by acquiring companies with niche presence and having products that complemented its own portfolio.
Sintex Industries a dominant player in the plastic and textile business, is looking to restart two plants of its US subsidiary, Wausaukee Composites, in another 6-7 months. Both the plants manufacture parts of a wind turbine such as cones and nacelles. Although the decline in the wind turbine market has been arrested, the company believes that it will be another six months or so before the demand revives.
Sintex had acquired an 81% stake in Wausaukee in May 2008 for US$ 17 m. Because wind energy is an alternative source of energy, it took a beating when oil prices came down last year. However, Sintex’s management has maintained that the overall business environment remains utterly challenging. While commodity prices have come down, the fact that the company is passing on the benefits of the same to customers has meant that realisations are under pressure. Apart from that, volumes have also come under pressure. Only once the company’s customers start clearing their inventories there will be an increase in orders.
For the first time Indian pharma companies will be challenging fraudulent patents granted to MNCs and small players. Indian Pharmaceutical Association, which has Ranbaxy, Dr Reddy’s and Sun Pharma as its members, will challenge such patent applications in the pre-grant stage itself. Challenging patents after grant is a time-consuming process which is also more expensive.At least 25 pre-grant patent challenges will be filed by the IPA team across four Indian patent offices in April.
A study by IPA claims 86 instances of frivolous patents. These, it says, include patents granted to multinational firms such as Novartis (16 products), Eli Lilly (10), Pfizer (9) and domestic firms Aurobindo (1) and Emcure (1). As pharma companies in Indian compete with their global counterparts in research and development, the patent laws here will also have to get stricter.
article source: equitymaster

India’s Stocks Fluctuate; DLF Advances, Hindalco Declines

31 March, 2010 (11:59) | Songs and Music, Stocks & Mutual Funds | By: Zander

March 31 (Bloomberg) — Indian stocks fluctuated. DLF Ltd. gained after the stock was upgraded by a unit of Kotak Securities Ltd., while Hindalco Industries Ltd. slid as aluminum prices fell.
DLF, India’s biggest developer, rose for a third day after Kotak raised the stock to “add” from “reduce,” citing rising home sales. Hindalco, the biggest aluminum producer, fell the most in more than a week as the price of the metal slipped.
The Bombay Stock Exchange’s Sensitive Index, or Sensex, fell 20.78, or 0.1 percent, to 17,569.39 at 2:44 p.m. in Mumbai, swinging between gains and losses at least nine times. The index has risen 0.6 percent this year, set for its smallest gain in five quarters.
“Investors who entered the markets in 2009 were risk takers, but those kinds of returns are not available today,” said Avinash Gupta, an analyst at Bonanza Portfolio Ltd., a stockbrokerage in New Delhi. “Some investors, including foreign funds, are betting on the long-term India growth story, and the markets will likely to stay in a range for some time now.”
Overseas investors were net purchasers of Indian stocks for a 19th day on March 29, buying a net 10.3 billion rupees ($229 million). Their purchases of the equities total 198 billion rupees so far this year, according to the nation’s market regulator.
The S&P CNX Nifty Index on the National Stock Exchange fell 0.1 percent to 5,256.45. The BSE 200 Index lost less than 0.1 percent to 2,202.79.
Kotak Securities said in a note to clients today that it moved 7.5 percent of its model portfolio to cash, citing valuations. The Sensex is trading at 21.3 times estimated earnings, the highest in Asia excluding Japan, according to data compiled by Bloomberg.
DLF rose 0.9 percent to 311.7 rupees, after it was upgraded on higher volume in residential and better pricing in the luxury houses, Kotak said in a note to clients today.
“We find very few strong investment ideas among large-cap names currently, given full-to-rich valuations for the India-specific consumer and investment stories and doubts about sustenance of the commodity cycle,” Kotak analysts led by Sanjeev Prasad said in the note. Prasad has been rated India’s top-ranked analyst in the past four years in Asia Money polls.
Hindalco slid 1.5 percent to 181.2 rupees. Aluminum retreated 0.1 percent in London.
Foreign fund inflows into India’s stock market climbed to a record 834.2 billion rupees in 2009, beating the previous high set two years earlier in local currency terms, as the biggest rally in 18 years lured foreign investors. They sold a record 529.9 billion rupees of shares in 2008, triggering the biggest ever annual decline.
article source: businessweek

Sensex ends 62 pts down after choppy ride

31 March, 2010 (11:57) | Songs and Music, Stocks & Mutual Funds | By: Zander

Stocks moved in a choppy fashion on the major Indian bourses today as investors appeared somewhat clueless about the direction the market would take in the near term. With a long weekend ahead and the reporting season about to start, buying remained highly stock specific during the final session of financial year 2009-2010.
Shrugging off a subdued close on Wall Street overnight and weak Asian markets, stocks opened on a reasonably strong note on the Indian bourses this morning. However, stocks turned subdued and drifted lower around mid morning, and despite staging a recovery of sorts past noon following a positive start in European markets, faltered once again and eventually ended on a weak note.
Stockometer
The Sensex, which rose to 17,699.50 in early trades, but dropped down to around 17,488 during the closing minutes, ended the day at 17,527.77 with a loss of 62.40 points or 0.35%.
The Nifty index of the National Stock Exchange settled at 5249.10, netting a loss of 13.35 points or 0.25%. The Nifty touched a high of 5293.90 and a low of 5235.15 during the session.
Select pharmaceuticals, power and PSU stocks ended on the positive side. Realty stocks opened well and traded firm for nearly three hours before encountering some stiff resistance and sliding down to lower levels.
Metal and bank stocks ended on a mixed note. Capital goods and oil stocks failed to retain early gains, while information technology and FMCG stocks remained weak almost right through the session.
Despite a good start, midcap and smallcap stocks gave up most of their gains due to lack of support at higher levels.
HDFC ended with a sharp gain of 2.85%. Reliance Communications gained 2.65%. NTPC, Sun Pharmaceuticals and HDFC Bank moved up by 1.3% – 2%. Wipro, Maruti Suzuki and Reliance Infrastructure posted modest gains. ONGC and Sterlite Industries ended marginally higher.
Bharti Airtel, which shot up to Rs 319.50 in early trades after the company said it has entered into a legally binding definitive agreement with Zain Group to acquire Zain Africa BV based on an enterprise valuation of US$ 10.7 billion, ended the day with a small gain at Rs 311.90.
Under the agreement, Bharti will acquire Zain’s African mobile services operations in 15 countries with a total customer base of over 42 million. Zain is the market leader in ten of these countries and ranks second in four countries. With this acquisition, Bharti Airtel will be the world’s fifth largest wireless company with operations across 18 countries. Bharti group’s global telecom footprint will expand to 21 countries along with the operations in Seychelles, Jersey, and Guernsey. The company’s network will now cover over 1.8 billion people, the second largest population coverage among Telcos globally.
Tata Consultancy Services ended nearly 2.5% down. ITC lost 2.1%. Hero Honda, Reliance Industries, Hindalco, Infosys Technologies and BHEL ended lower by 1% – 1.25%. Hindustan Unilever, Mahindra & Mahindra, ICICI Bank and Jaiprakash Associates also closed on a weak note. Larsen & Toubro ended 0.8% down despite the company winning a few big orders.
Nifty stocks SAIL, GAIL India, Cairn India, Unitech, HCL Technologies and Ambuja Cements closed with sharp to moderate gains.
Stockometer
Idea Cellular, Jindal Steel, BPCL, IDFC, Reliance Capital and Reliance Power closed weak.
The market breadth was fairly positive today. Out of 2870 stocks traded on BSE, 1578 stocks posted gains. 1187 stocks declined and 105 stocks ended flat.
article source: sify

Big Iron Man 2 Viral Update: Nifty Stark Expo 2010 Website

31 March, 2010 (11:49) | Songs and Music, Stocks & Mutual Funds | By: Zander

starkexpo2010 wallpaperheader tsr Big Iron Man 2 Viral Update: Nifty Stark Expo 2010 Website   thelivedemo.com
Ever since Stark Industries started accepting job applications last July, we’ve been waiting for an Iron Man 2 viral to kick off. Although this new website isn’t necessarily connected to that original site, it looks like this is the only big viral element of Iron Man 2′s online marketing campaign that we’ll see. A brand new website for the Stark Expo 2010 has launched at starkexpo2010.com and it contains some pretty nifty photos, graphics, and a plenty more. There’s a little bit of interactivity and it’s pretty cool to check out, but besides that I don’t think this leads to any other viral websites or anything else exciting. Read on for more details.
The site says the opening date is May 7th, 2010 which is not-so-coincidentally the same day Iron Man 2 arrives in theaters nationwide. There’s a fairly awesome gallery of photos (rather, concept art images) if you click on the may box in the middle of the site. And there’s also a teaser video and interactive 3D map of the expo area for those of you planning out where you’re going to spend time once you get inside. If only they were actually planning on opening this expo for real, that would be awesome. Sadly, I think this website is just a virtual tie-in to the expo in the movie, which we’re guessing plays a very important part in the plot.
As far as we know, no one else has found any hidden clues on the site anywhere, but there maybe some out there, so start looking around. I’ve included some of the concept art photos from the gallery below as well. Head over to the website and let us know if you find anything cool hidden on there (or anywhere else on the web) related to Iron Man 2. There’s only 38 more days left until the sequel arrives in theaters everywhere!
starkexpo2010 artgallery fullsize01 Big Iron Man 2 Viral Update: Nifty Stark Expo 2010 Website   thelivedemo.com
starkexpo2010 artgallery fullsize02 Big Iron Man 2 Viral Update: Nifty Stark Expo 2010 Website   thelivedemo.com
starkexpo2010 artgallery fullsize03 Big Iron Man 2 Viral Update: Nifty Stark Expo 2010 Website   thelivedemo.com
article source: firstshowing

Nifty closes below 5250; RIL, TCS, ITC, Infy dip

31 March, 2010 (11:39) | Songs and Music, Stocks & Mutual Funds | By: Zander

The benchmark Nifty closed last session of the fiscal year 2009-2010 with modest losses on the back of stock specific selling. It slipped below the 5250 level and continued profit booking for the second consecutive day. However, the benchmark indices showed outstanding performance in FY10, rallied over 70%.
In today’s trade, heavyweights dragged the index into negative terrain. Reliance Industries, TCS, Infosys, ITC, BHEL, ICICI Bank and HUL were the losers while NTPC, SAIL, HDFC, HDFC Bank, Bharti, Wipro and Reliance Communications were gainers in trade.
The 30-share BSE Sensex shed 62.40 points to close at 17,527.77 and the 50-share NSE Nifty fell 13.35 points to settle at 5,249.10. However, the benchmark indices outperformed the benchmark indices today as well; the BSE Midcap index was up 0.25% and Smallcap up 0.5%.
Weak Asian cues also weighed on the markets. Straits Times lost 1.6%. Shanghai, Hang Seng, Jakarta, Kospi and Taiwan were down 0.4-0.75%. Nikkei was flat. European markets were flat in trade, at the time of closing of Indian equities.
Reliance Industries from the oil & gas space declined 1.3% and BPCL was down 0.78% while GAIL and Cairn India went up 2-2.55%. ONGC was flat.
TCS from the technology segment slipped 2.4% and Infosys lost 1%. HCL Tech was down 0.25% while Wipro rose 0.76%.
In the banking space, ICICI Bank went down 0.76%; SBI and Axis Bank were down 0.2-0.4%. However, HDFC went up 3%. HDFC Bank was up 1.4% and PNB up 0.5%.
BHEL and L&T from the capital goods segment moved down 0.4-0.75% while ABB gained 0.65%.
FMCG space also witnessed selling pressure; ITC tumbled over 2% and HUL was down nearly 1%.
Jindal Steel and Hindalco from the metal pack slipped 1-1.5%. Tata Steel was down 0.4% while SAIL rallied 3.4%. Sterlite Industries rose 0.5%.
M&M and Hero Honda from the auto segment declined 1.2-1.5% while Maruti Suzuki was up 0.7% and Tata Motors up 0.2%.
Idea Cellular from the telecom pack lost 1.65%. However, Bharti Airtel gained 0.55%, as ; the company inked a definitive agreement to acquire Zain Africa on Tuesday. The Indian telecom major will become the world’s 5th largest wireless company post the Zain buy. Reliance Communication also rose 2%.
NTPC was the top leading counter on the Nifty, gained 2%. Among other power stocks, Power Grid and Reliance Infrastructure gained 0.4-0.65% while Suzlon and Reliance Power fell 0.4-0.6%.
In the healthcare segment, Sun Pharma went up 2.2% while Cipla and Ranbaxy Labs were flat. Unitech from the realty pack gained 1.1% while DLF was flat.
The market breadth was positive; about 1634 shares advanced while 1270 shares declined on the BSE. Nearly 325 shares remained unchanged.
Top percentage gainers – Josts Engineers, Ennore Coke, Camson Bio Tech and TCP shot up 20% each. Shirpur Gold was up 19.61% and HB Estate Dev up 17.82%.
In the midcap space, Kansai Nerolac rose 13.73%. Essar Shipping, Asian Star, Honeywell Automation and State Bank of Bikaner were up 5-6.7% while MVL, Gujarat NRE Coke, REI Six Ten, Blue Star and Balrampur Chini lost 3.5-6%.
In the smallcap space, Oriental Hotels, Finolex Industries, Vikas WSP and Rollatainers went up 10-13.7% while Swaraj Mazda, Carol Info, ISMT, HBL Power and Hinduja Foundries lost 5-10%.
The markets reported total turnover of Rs 83,903.65 crore. This included Rs 13,254.81 crore from the NSE cash segment, Rs 66,792.46 crore from the NSE F&O and the balance Rs 3,856.38 crore from the BSE cash segment.
Nifty volatile; NTPC, SAIL, HDFC, HDFC Bank, GAIL up
At 14:30 hours IST, the benchmark Nifty was lacklustre in trade on the back of two-way moves and even due to lack of global cues. On the one side, technology, FMCG, capital goods and select metal companies’ shares along with Reliance Industries, ICICI Bank, Idea Cellular, BPCL, M&M and Jaiprakash Associates were witnessing selling pressure.
However, buying in NTPC, SAIL, HDFC, HDFC Bank, Sun Pharma, SBI, Wipro, DLF, Reliance Infrastructure, Bharti, Maruti, Unitech, Ambuja Cements, Tata Power, ABB and ACC was helping the indices.
The Sensex was trading at 17546, down 44 points and the Nifty was at 5249, down 13 points. The Nifty April future was trading with 15 points premium.
Top gainers among the largecaps – HDFC, SAIL, Sun Pharma, NTPC and GAIL rose 2-2.7%. Reliance Infrastructure and DLF were up 1% each.
The market breadth was positive; about 1699 shares advanced while 1205 shares declined on the BSE. Nearly 325 shares were unchanged.
In the midcap space, P&G gained 10.4%. Puravankara Projects, Essar Shipping, Sun Pharma Advanced and HT Media went up 3.5-5%.
However, Gujarat NRE Coke, Corporation Bank, REI Six Ten, MVL and Dishman Pharma fell 2.5-4%.
In the smallcap space, Shirpur Gold, Finolex Industries, Rollatainers, Mukand and Graviss Hospital were up 9-11%.
However, Swaraj Mazda, ISMT, Subhkam Capital, Modern India and JMD Telefilms declined 4-10%.
Stocks in news:
Srinivasa Hatcheries gained 4%, as it has approved 1-for-1 bonus share issue.
KSK Energy has started power production for 135 MW lignite fired Rajasthan project. The share rose 4%.
Nirma went up 2.4%; the company approved merger of Nirma Credit Cement, Mining operations with self.
Himadri Chemicals rallied nearly 4%, as Bain Capital acquired additional 10% in open offer totaling USD 35 million at Rs 400/share in the company.
Ahluwalia Contracts has bagged projects worth Rs 425 crore. The stock shot up 4.6%.
Rana Sugars surged 13.5%, as it has entered into agreement with Tata Power for sale of power.
Compact Disc promoter group shareholding hiked to 24.69% from 20.01%. The share rallied 4.6%.
Sensex flat; realty, auto, power, pharma shine
At 12.53 hrs IST, Nifty was trading flat with positive bias. The Nifty was trading in a band of 5240-5290. The markets took a breather yesterday after a 4-day winning streak which took Nifty to record 52-week high of 5329.
Buying was seen in realty, auto, power, consumer durables and pharma stocks. Selling was seen in FMCG, IT and metal stocks. BSE Midcap and Smallcap index were trading in green.
The Sensex was up 40.21 points or 0.23% at 17630.38, and the Nifty up 8.60 points or 0.16% at 5271.05. About 1730 shares advanced, 1151 shares declined, and 348 shares were unchanged.
In the largecap space, Sun Pharma was the top gainer. HDFC, NTPC, DLF and Bharti Airtel were up 1-2%. On the losing side, Idea Cellular, Jindal Steel, Hindalco, ITC and BPCL were down 1-2%.
Hindustan Lever was trading at Rs 238.90 down 0.77% from its previous close of Rs 240.75. Index heavyweight Reliance was trading at Rs 1,081.70 down 0.57% from its previous close of Rs 1,087.85.
Tech major Infosys was trading at Rs 2,628.50 down 0.58% from its previous close of Rs 2,643.90. Cigarette major ITC was trading at Rs 266.00 down 1.08% from its previous close of Rs 268.90. Refinery major HPCL was trading at Rs 317.70 up 0.25% from its previous close of Rs 316.90.
Top gainers on the BSE Midcap: Procter and Gamble, Sun Pharma Advance, JK Bank, Phoenix Mills and Havells India were up 3.35-4.86%.
Top losers on the BSE Midcap: MVL, Corporation Bank, Dishman Pharma, Gujarat NRE Coke and Jindal Saw were down 2-4%.
Top gainers on the BSE Smallcap: Mukand, Graviss Hosp, Smartlink Net, Finolex Industries and Vikas WSP were up 8-9%.
Top losers on the BSE Smallcap: Swaraj Mazda, Subhkam Capital, JMD Telefilms, Richa Industries and Hinduja Foundri were down 4-9%.
Nifty tests 5250 amid choppy trade; RIL, ITC, Infy slip
At 11:28 hours IST, the 50-share NSE Nifty slipped marginally into the red amid choppy trade on the back of weak Asian cues and selling in heavyweights. It tested the 5250 level as well.
Among the Asian markets, Shanghai, Jakarta, Straits Times, Kospi and Hang Seng lost 0.4-0.6%. Nikkei and Hang Seng were flat.
Heavyweight Reliance Industries was down over 1%. Technology companies’ shares also declined again; TCS, Infosys and HCL Tech fell 0.5-0.7%.
ITC and HUL from the FMCG segment were down 0.85% each. Even metal stocks were witnessing profit booking; Sterlite, Hindalco, Jindal Steel and Tata Steel lost 0.5-1.4%.
However, auto, capital goods, realty, select pharma and banking & financial stocks were quite supportive to the markets. NTPC, Bharti and DLF went up 1.4-1.8%. Wipro, BHEL, SBI, HDFC and HDFC Bank gained 0.4-0.7%.
The Sensex was trading at 17569, down 21 points and the Nifty was at 5252, down 10 points. The Nifty April future was trading with 6 points premium.
The market breadth was in favour of advances; about 1645 shares advanced while 1215 shares declined on the BSE. Nearly 369 shares were unchanged.
Top percentage gainers – Josts Engineers and TCP rallied 20%. Ennore Coke was up 18.55% and Shiva Texyarn up 18.93%. D-Link India, Camson Bio, MRO-TEK and Aarvee Denim were up 11-17%.
Top percentage losers – Choice Financial fell 19.16%. Hipolin, Parsoli CapandF, Swaraj Mazda, VXL Instruments, Eurotex, Blue Coast and Novopan were down 4.5-12%.
Sensex consolidates; RIL, Hindalco, HUL dip
At 10:18 hours IST, the 30-share BSE Sensex was consolidating at current levels. Buying in technology, power, realty, auto, capital goods, pharma and select cement stocks was supporting the markets. Bharti Airtel, ONGC, HDFC Bank, HDFC, SBI and Reliance Communications were the other gainers.
Bharti Airtel gained further; was up 1.8%, it has inked a definitive agreement to buy Zain Africa. The Indian telecom major will become the world’s 5th largest wireless company post the Zain buy. The enterprise value of Zain Africa BV is USD 10.7 billion.
Technology stocks were seeing buying interest. Infosys and Wipro went up 0.8% each. TCS rose 0.3%.
However, selling in Reliance Industries, Jindal Steel, Hindalco, HUL, Axis Bank, PNB, BPCL, Tata Steel, ITC, Idea and Grasim wiped out some of the early gains.
The Sensex was trading at 17630, up 40 points and the Nifty was at 5270, up 7.7 points. The Nifty April future was trading with 8 points premium.
On the global front, Asian markets were marginally weak. Shanghai, Hang Seng, Jakarta, Straits Times, Kospi and Taiwan fell 0.1-0.6% while Nikkei gained 0.3%.
The broader indices were outperforming the benchmark indices; the BSE Midcap Index was up 0.4% and the Smallcap was up 0.8%. About 1749 shares advanced while 1087 shares declined on the BSE. Nearly 392 shares were unchanged.
In the midcap space, Sun Pharma Advanced, LIC Housing Finance, Havells India, J&K Bank and Essar Shipping were up 3-5% while MVL, Gujarat NRE Coke, Polaris, Financial Tech and Dishman Pharma fell 1.7-8.5%.
In the smallcap space, Rollatainers was locked at 10% upper circuit. Mukand, Smartlink Network, Finolex Industries and Shrenuj went up 6.7-9%. However, Subhkam Capital, Swaraj Mazda, Ruchinfra, Heritage Foods and Prraneta Industries lost 2.5-5%.
Nifty bounces back; Infy, Bharti, ICICI Bank gain
The benchmark Nifty recouped some of its Tuesday’s losses and was trading below the 5300 mark. Technology shares bounced back after two-day losses on rupee appreciation. Realty, select banking and auto stocks were also witnessing buying interest.
At 9:02 hours IST, the Nifty was trading at 5278, up 16 points and the Sensex was at 17649, up 59 points.
The CNX Midcap went up 38 points to 7707. About 550 shares advanced while 150 shares declined on the NSE.
Among the frontliners, DLF, Hero Honda, ICICI Bank, Tata Motors, Infosys, TCS, M&M, Jaiprakash Associates, Unitech, Jindal Steel & Power and SBI were the gainers.
Bharti Airtel has inked a definitive agreement to acquire Zain Africa. The enterprise value of Zain Africa BV is USD 10.7 billion, Bharti said in a press release. The Indian telecom major will become the world’s 5th largest wireless company post the Zain buy. The stock rose over 1%.
However, HDFC, ONGC, Tata Power, ITC and HDFC Bank were the losers in the early trade.
Midcap & Smallcap Space:
NMDC gained 1.5% and was near to Rs 300 level, after seeing sell-off in the last few days.
3i Infotech gained 2.5%, as its QIP book opened. The deal size is Rs 120-180 crore and floor price fixed Rs 78.60/share.
Valecha Engineering rallied 5%. SREI Infra gained 1%.
Chola DBS was up 4%, as Murugappa group will buy over 37.48% stake in company at Rs 91/share.
However, recently listed ITNL lost 0.5% on profit booking.
Global cues:
Asian markets were mixed in trade. Shanghai, Jakarta and Straits Times fell 0.3-0.5% while Hang Seng and Nikkei gained 0.2-0.3%. Kospi and Taiwan were flat.
The US markets ended flat amid better-than-expected consumer confidence report. The US dollar made a move up from negative territory to finish with a 0.3% gain.
The Dow Jones Industrial Average ended up 11.5 points at 10907. The Nasdaq was up 6 points at 2411 and S&P 500 closed flat at 1173.
Commodities
CRB Commodities Index gained 0.3%.
May Crude oil was up 0.2% at USD 82.37/bbl.
April gold was down 0.5% at USD 1104.5/ounce.
May silver fell 0.3% at USD 17.33/ounce.
May natural gas was up 1.5% at USD 3.98 per MMBtu, has been recovering from 6-month low at USD 3.85.
Natural gas fell 36% since early January.
Market cues:
FIIs were net buyers of USD 229 million in equities on March 29
Total F&O Open Int was up by Rs 2100 crore to Rs 91934 crore
As per provisional data of March 30, FIIs were net buyers of Rs 580 crore; DIIs were net buyers of Rs 100 crore in cash markets. FIIs were net sellers of Rs 69 crore in F&O.
F&O cues:
-Total Futures Open Int was down by Rs 453 crore
-Total Options Open Int ws up by Rs 2553 crore
-Stock Futures add 40 lakh shares in Open Int
-Nifty down 0.7%, Open Int down 2%
-Nifty Open Int PCR at 1.17 from 1.16
-Nifty Calls add 18.4 lakh shares in Open Int
-Nifty Puts add 22 lakh shares in Open Int
-Nifty April 5400 Put adds 8.6 lk shrs in Open Int
-Nifty April 5300 Call adds 6.8 lk shrs in Open Int
-Nifty April 5200 Put adds 4.4 lk shrs in Open Int
-Nifty May 5100 Put adds 2.2 lk shrs in Open Int
article source: moneycontrol

Sensex, Nifty come off higher levels

31 March, 2010 (11:35) | Songs and Music, Stocks & Mutual Funds | By: Zander

With a few front line stocks drifting lower on profit taking, the market, which moved up fairly sharply in early trades, has shed a portion of gains now.
The Sensex, which surged to 17,699.50, is up 32.82 points or 0.19% at 17,622.99 at present. At 5267.90, well off the day’s high of 5293.90, the Nifty is now up 5.45 points or 0.1% over its previous closing mark.
Realty stocks are among the prominent gainers this morning. Power, auto, consumer durables, PSU and information technology stocks also figure in the gainers list.
Pharmaceuticals and capital goods stocks are also attracting buyers. Bank and oil stocks are off their highs. FMCG and metal stocks are quite subdued so far.
A fair amount of buying is seen at several counters in midcap and smallcap segments. The market breadth is quite strong. Out of 2143 stocks seen in action on BSE, 1445 stocks are up in positive territory. 635 stocks have declined and 63 stocks are trading flat.
Bharti Airtel rules firm with a sharp gain of 1.8%. Hero Honda has come off its high, but at Rs 1990, remains fairly well placed in positive territory with a gain of 1.2%. Reliance Infrastructure, DLF and NTPC are also up by over 1%.
ACC, Infosys Technologies, Mahindra & Mahindra, Reliance Communications, Tata Motors, Wipro, ONGC, BHEL, HDFC Bank, HDFC, Sun Pharmaceuticals and Tata Consultancy Services are also trading in positive territory.
Hindalco has lost a little over 1% at Rs 181.75. Hindustan Unilever, Reliance Industries, ITC, Tata Steel, Maruti Suzuki, Tata Power, Grasim Industries and Larsen & Toubro are also trading weak.
Nifty stocks GAIL India, ABB, Reliance Power, Cipla, Ambuja Cements and Unitech are up with modest gains. Jindal Steel, BPCL, Punjab National Bank, Idea Cellular, Axis Bank, HCL Technologies and Reliance Capital are trading weak.
Midcap stock LIC Housing Finance has gained 4.2% to Rs 897. J&K Bank is up 4.1% at Rs 686. Sun Pharma Advanced Research, Havells India, Shriram Transport Finance, BGR Energy, United Breweries, Essar Ship Ports, Procter & Gamble, Glenmark Pharmaceuticals, Atlas Copco, Torrent Pharma, SKF India, JM Financial Services, Emami, Andhra Bank and Godfrey Philips are among the other prominent gainers in the midcap space.
article source: sify

Nifty volatile; NTPC, SAIL, HDFC, HDFC Bank, GAIL up

31 March, 2010 (11:32) | Songs and Music, Stocks & Mutual Funds | By: Zander

At 14:30 hours IST, the benchmark Nifty was lacklustre in trade on the back of two-way moves and even due to lack of global cues. On the one side, technology, FMCG, capital goods and select metal companies’ shares along with Reliance Industries, ICICI Bank, Idea Cellular, BPCL, M&M and Jaiprakash Associates were witnessing selling pressure.
However, buying in NTPC, SAIL, HDFC, HDFC Bank, Sun Pharma, SBI, Wipro, DLF, Reliance Infrastructure, Bharti, Maruti, Unitech, Ambuja Cements, Tata Power, ABB and ACC was helping the indices.
The Sensex was trading at 17546, down 44 points and the Nifty was at 5249, down 13 points. The Nifty April future was trading with 15 points premium.
Top gainers among the largecaps – HDFC, SAIL, Sun Pharma, NTPC and GAIL rose 2-2.7%. Reliance Infrastructure and DLF were up 1% each.
The market breadth was positive; about 1699 shares advanced while 1205 shares declined on the BSE. Nearly 325 shares were unchanged.
In the midcap space, P&G gained 10.4%. Puravankara Projects, Essar Shipping, Sun Pharma Advanced and HT Media went up 3.5-5%.
However, Gujarat NRE Coke, Corporation Bank, REI Six Ten, MVL and Dishman Pharma fell 2.5-4%.
In the smallcap space, Shirpur Gold, Finolex Industries, Rollatainers, Mukand and Graviss Hospital were up 9-11%.
However, Swaraj Mazda, ISMT, Subhkam Capital, Modern India and JMD Telefilms declined 4-10%.
Stocks in news:
Srinivasa Hatcheries gained 4%, as it has approved 1-for-1 bonus share issue.
KSK Energy has started power production for 135 MW lignite fired Rajasthan project. The share rose 4%.
Nirma went up 2.4%; the company approved merger of Nirma Credit Cement, Mining operations with self.
Himadri Chemicals rallied nearly 4%, as Bain Capital acquired additional 10% in open offer totaling USD 35 million at Rs 400/share in the company.
Ahluwalia Contracts has bagged projects worth Rs 425 crore. The stock shot up 4.6%.
Rana Sugars surged 13.5%, as it has entered into agreement with Tata Power for sale of power.
Compact Disc promoter group shareholding hiked to 24.69% from 20.01%. The share rallied 4.6%.
Sensex flat; realty, auto, power, pharma shine
At 12.53 hrs IST, Nifty was trading flat with positive bias. The Nifty was trading in a band of 5240-5290. The markets took a breather yesterday after a 4-day winning streak which took Nifty to record 52-week high of 5329.
Buying was seen in realty, auto, power, consumer durables and pharma stocks. Selling was seen in FMCG, IT and metal stocks. BSE Midcap and Smallcap index were trading in green.
The Sensex was up 40.21 points or 0.23% at 17630.38, and the Nifty up 8.60 points or 0.16% at 5271.05. About 1730 shares advanced, 1151 shares declined, and 348 shares were unchanged.
In the largecap space, Sun Pharma was the top gainer. HDFC, NTPC, DLF and Bharti Airtel were up 1-2%. On the losing side, Idea Cellular, Jindal Steel, Hindalco, ITC and BPCL were down 1-2%.
Hindustan Lever was trading at Rs 238.90 down 0.77% from its previous close of Rs 240.75. Index heavyweight Reliance was trading at Rs 1,081.70 down 0.57% from its previous close of Rs 1,087.85.
Tech major Infosys was trading at Rs 2,628.50 down 0.58% from its previous close of Rs 2,643.90. Cigarette major ITC was trading at Rs 266.00 down 1.08% from its previous close of Rs 268.90. Refinery major HPCL was trading at Rs 317.70 up 0.25% from its previous close of Rs 316.90.
Top gainers on the BSE Midcap: Procter and Gamble, Sun Pharma Advance, JK Bank, Phoenix Mills and Havells India were up 3.35-4.86%.
Top losers on the BSE Midcap: MVL, Corporation Bank, Dishman Pharma, Gujarat NRE Coke and Jindal Saw were down 2-4%.
Top gainers on the BSE Smallcap: Mukand, Graviss Hosp, Smartlink Net, Finolex Industries and Vikas WSP were up 8-9%.
Top losers on the BSE Smallcap: Swaraj Mazda, Subhkam Capital, JMD Telefilms, Richa Industries and Hinduja Foundri were down 4-9%.
Nifty tests 5250 amid choppy trade; RIL, ITC, Infy slip
At 11:28 hours IST, the 50-share NSE Nifty slipped marginally into the red amid choppy trade on the back of weak Asian cues and selling in heavyweights. It tested the 5250 level as well.
Among the Asian markets, Shanghai, Jakarta, Straits Times, Kospi and Hang Seng lost 0.4-0.6%. Nikkei and Hang Seng were flat.
Heavyweight Reliance Industries was down over 1%. Technology companies’ shares also declined again; TCS, Infosys and HCL Tech fell 0.5-0.7%.
ITC and HUL from the FMCG segment were down 0.85% each. Even metal stocks were witnessing profit booking; Sterlite, Hindalco, Jindal Steel and Tata Steel lost 0.5-1.4%.
However, auto, capital goods, realty, select pharma and banking & financial stocks were quite supportive to the markets. NTPC, Bharti and DLF went up 1.4-1.8%. Wipro, BHEL, SBI, HDFC and HDFC Bank gained 0.4-0.7%.
The Sensex was trading at 17569, down 21 points and the Nifty was at 5252, down 10 points. The Nifty April future was trading with 6 points premium.
The market breadth was in favour of advances; about 1645 shares advanced while 1215 shares declined on the BSE. Nearly 369 shares were unchanged.
Top percentage gainers – Josts Engineers and TCP rallied 20%. Ennore Coke was up 18.55% and Shiva Texyarn up 18.93%. D-Link India, Camson Bio, MRO-TEK and Aarvee Denim were up 11-17%.
Top percentage losers – Choice Financial fell 19.16%. Hipolin, Parsoli CapandF, Swaraj Mazda, VXL Instruments, Eurotex, Blue Coast and Novopan were down 4.5-12%.
Sensex consolidates; RIL, Hindalco, HUL dip
At 10:18 hours IST, the 30-share BSE Sensex was consolidating at current levels. Buying in technology, power, realty, auto, capital goods, pharma and select cement stocks was supporting the markets. Bharti Airtel, ONGC, HDFC Bank, HDFC, SBI and Reliance Communications were the other gainers.
Bharti Airtel gained further; was up 1.8%, it has inked a definitive agreement to buy Zain Africa. The Indian telecom major will become the world’s 5th largest wireless company post the Zain buy. The enterprise value of Zain Africa BV is USD 10.7 billion.
Technology stocks were seeing buying interest. Infosys and Wipro went up 0.8% each. TCS rose 0.3%.
However, selling in Reliance Industries, Jindal Steel, Hindalco, HUL, Axis Bank, PNB, BPCL, Tata Steel, ITC, Idea and Grasim wiped out some of the early gains.
The Sensex was trading at 17630, up 40 points and the Nifty was at 5270, up 7.7 points. The Nifty April future was trading with 8 points premium.
On the global front, Asian markets were marginally weak. Shanghai, Hang Seng, Jakarta, Straits Times, Kospi and Taiwan fell 0.1-0.6% while Nikkei gained 0.3%.
The broader indices were outperforming the benchmark indices; the BSE Midcap Index was up 0.4% and the Smallcap was up 0.8%. About 1749 shares advanced while 1087 shares declined on the BSE. Nearly 392 shares were unchanged.
In the midcap space, Sun Pharma Advanced, LIC Housing Finance, Havells India, J&K Bank and Essar Shipping were up 3-5% while MVL, Gujarat NRE Coke, Polaris, Financial Tech and Dishman Pharma fell 1.7-8.5%.
In the smallcap space, Rollatainers was locked at 10% upper circuit. Mukand, Smartlink Network, Finolex Industries and Shrenuj went up 6.7-9%. However, Subhkam Capital, Swaraj Mazda, Ruchinfra, Heritage Foods and Prraneta Industries lost 2.5-5%.
Nifty bounces back; Infy, Bharti, ICICI Bank gain
The benchmark Nifty recouped some of its Tuesday’s losses and was trading below the 5300 mark. Technology shares bounced back after two-day losses on rupee appreciation. Realty, select banking and auto stocks were also witnessing buying interest.
At 9:02 hours IST, the Nifty was trading at 5278, up 16 points and the Sensex was at 17649, up 59 points.
The CNX Midcap went up 38 points to 7707. About 550 shares advanced while 150 shares declined on the NSE.
Among the frontliners, DLF, Hero Honda, ICICI Bank, Tata Motors, Infosys, TCS, M&M, Jaiprakash Associates, Unitech, Jindal Steel & Power and SBI were the gainers.
Bharti Airtel has inked a definitive agreement to acquire Zain Africa. The enterprise value of Zain Africa BV is USD 10.7 billion, Bharti said in a press release. The Indian telecom major will become the world’s 5th largest wireless company post the Zain buy. The stock rose over 1%.
However, HDFC, ONGC, Tata Power, ITC and HDFC Bank were the losers in the early trade.
Midcap & Smallcap Space:
NMDC gained 1.5% and was near to Rs 300 level, after seeing sell-off in the last few days.
3i Infotech gained 2.5%, as its QIP book opened. The deal size is Rs 120-180 crore and floor price fixed Rs 78.60/share.
Valecha Engineering rallied 5%. SREI Infra gained 1%.
Chola DBS was up 4%, as Murugappa group will buy over 37.48% stake in company at Rs 91/share.
However, recently listed ITNL lost 0.5% on profit booking.
Global cues:
Asian markets were mixed in trade. Shanghai, Jakarta and Straits Times fell 0.3-0.5% while Hang Seng and Nikkei gained 0.2-0.3%. Kospi and Taiwan were flat.
The US markets ended flat amid better-than-expected consumer confidence report. The US dollar made a move up from negative territory to finish with a 0.3% gain.
The Dow Jones Industrial Average ended up 11.5 points at 10907. The Nasdaq was up 6 points at 2411 and S&P 500 closed flat at 1173.
Commodities
CRB Commodities Index gained 0.3%.
May Crude oil was up 0.2% at USD 82.37/bbl.
April gold was down 0.5% at USD 1104.5/ounce.
May silver fell 0.3% at USD 17.33/ounce.
May natural gas was up 1.5% at USD 3.98 per MMBtu, has been recovering from 6-month low at USD 3.85.
Natural gas fell 36% since early January.
Market cues:
FIIs were net buyers of USD 229 million in equities on March 29
Total F&O Open Int was up by Rs 2100 crore to Rs 91934 crore
As per provisional data of March 30, FIIs were net buyers of Rs 580 crore; DIIs were net buyers of Rs 100 crore in cash markets. FIIs were net sellers of Rs 69 crore in F&O.
F&O cues:
-Total Futures Open Int was down by Rs 453 crore
-Total Options Open Int ws up by Rs 2553 crore
-Stock Futures add 40 lakh shares in Open Int
-Nifty down 0.7%, Open Int down 2%
-Nifty Open Int PCR at 1.17 from 1.16
-Nifty Calls add 18.4 lakh shares in Open Int
-Nifty Puts add 22 lakh shares in Open Int
-Nifty April 5400 Put adds 8.6 lk shrs in Open Int
-Nifty April 5300 Call adds 6.8 lk shrs in Open Int
-Nifty April 5200 Put adds 4.4 lk shrs in Open Int
-Nifty May 5100 Put adds 2.2 lk shrs in Open Int
article source: moneycontrol