Thursday, July 9, 2009



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Intraday calls for 10-07-09

Posted: 09 Jul 2009 08:49 PM PDT

Markets are likely to open flat. Nifty has strong support at 4040 and Resistance at 4100-4120. Buy Reliance Infrastructure at 1100, target: 1130. Stoploss: 1089 Buy Suzlon at 86.30, target: 89.30. Stoploss: 84 View Market hour calls ...

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NTPC overstated its profit by Rs 938 cr in FY08: CAG

Posted: 09 Jul 2009 12:28 PM PDT

State-run power firm NTPC overstated its profits by Rs 938 crore in 2007-08, the Comptroller and Auditor General of India (CAG) said in a report, but categorically stated that chances of Satyam like frauds in PSUs are very remote.The report, which was tabled in Parliament today, said PSUs...

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Govt richer by Rs 3.5 lakh crore as PSU shares soar

Posted: 09 Jul 2009 12:23 PM PDT

The government became richer by over Rs 3.5 lakh crore in 2007-08 as the value of its shares in state-owned listed companies soared by 65 per cent during the year."The total market value of shares held by the government in these companies (35 PSUs listed on stock exchanges) had gone up ...

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Warren Buffett says second stimulus might be needed

Posted: 09 Jul 2009 12:21 PM PDT

WASHINGTON: Legendary investor Warren Buffett said in an interview aired on Thursday unemployment could hit 11 per cent and a second stimulus package might be needed as the economy struggles to recover from recession. Buffett, the billionaire founder of Berkshire Hathaway, said America...

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Punj Lloyd JV bags US$300mn Saudi Aramco order: report

Posted: 09 Jul 2009 04:20 AM PDT

The stock was trading at Rs185.45 on the Bombay Stock Exchange (BSE) at 1:51 pm Dayim Punj Llyod, a JV between the Punj Lloyd and His royal Highness Prince Khalid Bin Bandar Bin Sultan (KBS), Kingdom of Saudi Arabia, announced winning a contract worth Rs12.10bn (US$246.8mn) for engineeri...

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Hold Mahindra and Mahindra: Indiabulls Securities

Posted: 09 Jul 2009 04:20 AM PDT

Indiabulls Securities Research has recommended a hold rating on Mahindra and Mahindra in its July 7, 2009 reports. "We hold a positive outlook on the Company due to the lower interest rates, easing financing terms, and the Company's internal arrangements to finance vehicles. Further,...

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Hold Reliance Industries, target of Rs 1900: Sharekhan

Posted: 09 Jul 2009 04:19 AM PDT

Sharekhan has maintained its hold rating on Reliance Industries with a price target of Rs 1900 in its report dated July 7, 2009. “Union Budget 2009-10 has increased the minimum alternate tax (MAT) including surcharges to 17% from 11.3% earlier. To account for higher incidence of MA...

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Reduce Ashok Leyland, target of Rs 30: IIFL

Posted: 09 Jul 2009 04:18 AM PDT

IIFL has maintained its reduce rating on Ashok Leyland with a price target of Rs 30 in its report dated July 9, 2009. “Management said the company took active steps to completely eliminate dealer-level inventory in 1QFY10. As a result, dealer-level inventory declined from 3,000 veh...

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Shree Cements has support at Rs 1150: Gujral

Posted: 09 Jul 2009 04:17 AM PDT

Technical Analyst, Ashwani Gujral is of the view that Shree Cements has support at Rs 1150. Gujral told CNBC-TV18, “I tend to like some of the midcap type stocks because they give better performance, but obviously the entire cement space is looking strong. For Shree Cement, there i...

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Sesa Goa has support at Rs 170-175: Gujral

Posted: 09 Jul 2009 04:16 AM PDT

Technical Analyst, Ashwani Gujral is of the view that Sesa Goa has support at Rs 170-175. Gujral told CNBC-TV18, “Given the weakness in commodities, metals, oil Sesa Goa has held up quite well, so Rs 170-175 is a good support on the downside. If it can take out Rs 225 and as metals...

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