Wednesday, June 10, 2009


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Intraday calls for 11-06-09

Posted: 10 Jun 2009 08:55 PM PDT

Buy Bata India around 163-165, target: 175. Stoploss: 160 Buy Bajaj Hindusthan at 202.50, target: 212. Stoploss: 200 If market show weakness later during the day, short sell:
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Nifty touches 52-week high; uptrend to continue

Posted: 10 Jun 2009 07:22 AM PDT

MUMBAI: Bulls extended their winning streak on Wednesday, taking the Indian equity benchmarks to 52-week highs. Traders defied cautious calls from experts that markets are over-heated and a correction is imminent. The rally was led by power, capital goods and banks while broader markets s...

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Market Review for 11th June 2009

Posted: 10 Jun 2009 07:18 AM PDT

BSE Sensex: (15467) the market was UP as expected and so far it does give any sign of weakness but the market is close to a very resistance zone and so I have not be surprised if profit booking comes in…caution is the order of the day and crucial support to watch is 15400 The support f...

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NMDC to acquire stake in Kudremukh Iron Ore

Posted: 10 Jun 2009 04:23 AM PDT

MUMBAI (Reuters) - State-owned NMDC Ltd will acquire a majority stake in Kudremukh Iron Ore Co Ltd (KIOCL), federal steel minister Virbhadra Singh said on Wednesday. “This partnership acquisition will ensure continuous supply of iron ore to KIOCL from NMDC,” he told reporter...

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Hold Aditya Birla; target of Rs 968: Sharekhan

Posted: 10 Jun 2009 04:11 AM PDT

Sharekhan has downgraded its rating on Aditya Birla Nuvo to hold with a price target of Rs 968 in its report dated June 9, 2009. "Aditya Birla Nuvo Ltd's (ABN) board of directors has decided to issue 1.85 crore warrants worth Rs ...

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Fame India a marketperformer: Karvy

Posted: 10 Jun 2009 04:10 AM PDT

Karvy Stock Broking has maintained its marketperformer rating on Fame India with a price target of Rs 26 in its June 10, 2009 research report. “Net sales of the company grew by 33% YoY (lower than our expectations of 41% YoY) and sto...

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Buy Patel Engg, target of Rs 550: Fairwealth Sec

Posted: 10 Jun 2009 03:57 AM PDT

Fairwealth Securities has maintained its buy rating on Patel Engineering with a price target of Rs 550 in its report dated June 8, 2009. “Patel Engineeringn(PE) registered steady growth in 3QFY2009. Consolidated Sales of the comp...

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Satyam faces claims worth Rs 10,000 cr

Posted: 10 Jun 2009 03:11 AM PDT

New Delhi: Euphoria over the Rs 181 crore net profit in October-December 2008 notwithstanding, Satyam is still not out of the woods as it faces legal and other claims that could put a burden of up to Rs 10,000 crore on it. These include claims worth about Rs 400 crore related to four over...

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Stock market seems to be quite bullish: says FM

Posted: 10 Jun 2009 03:08 AM PDT

I hope that the impact of various pro-growth measures would help to turn around the economy soon: FM Following is the text of speech of Finance Minister Shri Pranab Mukherjee at the meeting of Chief Executives of Public Sector Banks/Financial Institutions. "I am pleased to meet you al...

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Global oil reserves fall for 1st time in decade: BP

Posted: 10 Jun 2009 03:06 AM PDT

Oil reserves totaled 1.258 trillion barrels at the end of 2008, compared with a revised 1.261 trillion barrels a year earlier, BP said in its annual Statistical Review of World Energy. oil_reserves BP Plc said on Wednesday that the global proved oil reserves fell last year, the first dr...

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