Thursday, June 11, 2009



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Intraday calls for 12-06-09

Posted: 11 Jun 2009 08:47 PM PDT

Buy Chambal Fertilizers at 71.80, target: 74. Stoploss: 70.50 Buy Bharat Petroleum Corporation (BPCL) at 426, target: 440. Stoploss: 419 View Market ho...

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Top Satyam executive to sell shares in open offer

Posted: 11 Jun 2009 08:29 AM PDT

NEW YORK: One of the top executives of Satyam Computer is considering selling his shares in the open offer beginning tomorrow, even as the scam-hit IT firm is trying to come out of woods under its new owner and guided by government-appointed directors. Without naming the executive, NYSE-...

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Sugar sector bailout costs govt Rs 10000 crore in 2.5 years

Posted: 11 Jun 2009 08:28 AM PDT

NEW DELHI: The sugar economy has already cost the exchequer a whopping Rs 3300 crore plus thus far this year in high priced raw sugar imports to the tune of 1.5 million tonnes and some quantities of white sugar. In 2007, the sugar sector cost the economy a collosal Rs 5000 crore plus i...

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NSE slashes lot sizes of 143 stocks; F&O volumes to rise

Posted: 11 Jun 2009 08:27 AM PDT

In a move that may give relief to retail participants in the market, the National Stock Exchange (NSE) has reduced the lot sizes for derivative contracts of 143 stocks. The move came after a nearly two-fold rise in stock prices of many companies in the past couple of months. The lot-size...

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Market Review for 12th June 2009

Posted: 11 Jun 2009 08:09 AM PDT

BSE Sensex: (15411) the market has traded sideways with no sign of any direction…technically the trend is still intact Up but the market is also against a strong zone of resistance…looks like more of a sideways movement with profit booking coming in… The support for the Sensex is 1...

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Dr Reddys Labs an outperformer, target of Rs 925: Karvy

Posted: 11 Jun 2009 05:08 AM PDT

Karvy Stock Broking has recommended an outperformer rating on Dr Reddy’s Labs with a price target of Rs 925 in its report dated June 11, 2009. “Dr Reddys Lab has received the USFDA approval for Omeprazole OTC. Shipment of this product will commence in Q2 FY2010. This is a USD...

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Accumulate IVRCL Infra, target Rs 399: Angel Broking

Posted: 11 Jun 2009 05:08 AM PDT

Angel Broking has recommended an accumulate rating on IVRCL Infrastructure with a price target of Rs 399 in its report dated June 10, 2009. “We have used SOTP methodology to value the company owing to its diversified portfolio. Our SOTP-based target price for IVRCL works out to Rs ...

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Buy JP Associates, target of Rs 227: Motilal Oswal

Posted: 11 Jun 2009 05:07 AM PDT

Motilal Oswal has maintained its buy rating on Jaiprakash Associates with a price target of Rs 227 in its June 10, 2009 research report. “We expect JPA to report standalone PAT of Rs 9.9 billion in FY10E (up 16% YoY) and Rs 9 billion in FY11E (down 9% YoY). Using SOTP, we arrive at...

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Hold HDFC, target of Rs 2517: Sharekhan

Posted: 11 Jun 2009 05:06 AM PDT

Sharekhan has recommended a hold rating on Housing Development Finance Corporation (HDFC) with a price target of Rs 2517 in its June 10, 2009 report. “HDFC has received an in-principle nod from its Board of Directors for a combined offering of secured redeemable non-convertible deb...

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Satyam spike to spoil Tech Mahindra’s public offer

Posted: 11 Jun 2009 02:41 AM PDT

BANGALORE (Reuters) - A sharp surge in the shares of Satyam Computer Services means its new parent will likely need a second preferential issue to gain a majority stake in the company at the centre of India’s biggest corporate fraud. Tech Mahindra won a auction in April for contro...

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