Sell MCX Gold June fut; target Rs 26850: Fortune Financial

Fortune Financial Servies has come out with its special technical report on bullion. According to the research firm, MCX Gold June futures contract is looking sideways on chart, day traders can sell at Rs 27150 for the target of Rs 26950 & Rs 26850 with a stop loss above Rs 27320.

Bullion: Gold futures rose on Wednesday as traders bet that stronger Chinese economic data would lift demand in the world's No. 2 consumer of the metal. The most actively traded contract, for June delivery, was recently up USD 18, or 1.2 percent, at USD 1,466.80 a troy ounce on the Comex division of the New York Mercantile Exchange. Gold futures on MCX rose tracking the COMEX, but the rise was limited due to continuous outflow from exchange-traded funds.

Energy: U.S. crude inventories rose less than expected in the week ended May 3, according to data released Wednesday by the Energy Information Administration unit of the U.S. Department of Energy. Crude oil stockpiles rose 230,000 barrels to 395.5 million barrels, compared with an average survey estimate of a rise of 1.7 million barrels.

Metals: Copper futures rose Wednesday as traders bet that a Chinese trade surplus pointed to higher metals demand from the world's largest consumer. The most actively traded copper contract, for July delivery, recently traded up 7.9 cents, or 2.4 percent, at USD 3.3815 a pound on the Comex division of the New York Mercantile Exchange. Futures traded as high as USD 3.39 a pound, the highest intraday price since April 12.

China swung back to a trade surplus in April, easing concerns that its exportfueled economy was slowing. Exports exceeded imports by USD 18.2 billion, data released Wednesday showed, higher than an expected USD 15.6 billion, with growth in both exports and imports exceeding forecasts.

Also read: Should you buy gold this Akshaya Tritiya? Religare's take

MCX Gold June futures contract is looking sideways on chart, day traders can sell on rise Major support is seen in range of Rs 26820, Rs 26700 and Rs 26540. While important resistance is seen near Rs 27150, Rs 27300 and Rs 27450.

Recommendation - Day traders can Sell at Rs 27150, Target Rs 26950 & Rs 26850 SL above Rs 27320

MCX Silver May futures futures contract is looking weak on chart, day traders can sell on rise Major support is seen in range of Rs 44300, Rs 43600 and Rs 43300. While important resistance is seen near Rs 45200, Rs 45650 and Rs 46300.

Recommendation - Day traders can sell below Rs 44300 Target Rs 43600 & Rs 43300 SL above Rs 44800.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Kesar Enterprises committee meeting on May 13, 2013

May 09, 2013, 02.15 PM IST

Kesar Enterprises board meeting will be held on May 13, 2013 to consider the letters received from the 2 allottees of Zero Coupon Optionally Convertible Preference Shares (OCPS) exercising their option to convert 43,87,500 OCPS allotted to them on Feb 06, 2013, into 9,75,000 Equity Shares of Rs 10 each at a premium of Rs 35 per share.

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Kesar Enterprises committee meeting on May 13, 2013

Kesar Enterprises board meeting will be held on May 13, 2013 to consider the letters received from the 2 allottees of Zero Coupon Optionally Convertible Preference Shares (OCPS) exercising their option to convert 43,87,500 OCPS allotted to them on Feb 06, 2013, into 9,75,000 Equity Shares of Rs 10 each at a premium of Rs 35 per share.

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Kesar Enterprises committee meeting on May 13, 2013

Kesar Enterprises board meeting will be held on May 13, 2013 to consider the letters received from the 2 allottees of Zero Coupon Optionally Convertible Preference Shares (OCPS) exercising their option to convert 43,87,500 OCPS allotted to them on Feb 06, 2013, into 9,75,000 Equity Shares of Rs 10 each at a premium of Rs 35 per share.

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Kesar Enterprises Ltd has informed BSE that a Meeting of the Committee of the Directors of the Company will be held on May 13, 2013 to consider the letters received from the 2 Allottees of Zero Coupon Optionally Convertible Preference Shares "OCPS") exercising their option to convert 43,87,500 OCPS allotted to them on February 06, 2013, into 9,75,000 Equity Shares of Rs.10/- each at a premium of Rs. 35/- per share as per terms & conditions of OCPS.Source : BSE

Read all announcements in Kesar Enterpris

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Nifty consolidates; PNB results lift PSU banks

14:17

Moneycontrol Bureau
Indian shares were taking a breather today after rallying over 10 percent in past one month. Record buying by foreign funds in cash market coupled with recent fall in crude and gold prices were some of the key drivers for this rally, says market watchers.

The Sensex was up 2.73 points at 19992 and the Nifty was up 3 points at 6072. About 1109 shares advanced, 1102 shares declined, and 157 shares remain unchanged.

Selective pharma stocks were under pressure on profit booking after touching life highs this week. Shares of Sun Pharma and Lupin were trading lower today.

IT stocks continued their northbound journey in May after relentless selling by traders in April. Cognizant's optimistic revenue guidance of 17 percent lifted sentiments of the sector.

Punjab National Bank, Reliance Infra, HCL Tech, SBI and Bank of Baroda were key gainers in the Nifty. Laggards included

Sun Pharma, NMDC, Jindal Steel, Axis Bank and Ranbaxy Labs, down between 1.5 to 3 percent.

Shares of PSU banks surged in the afternoon trade after India's No. 2 state lender Punjab National Bank reported sharp fall in its gross non performing assets. SBI, Bank of Baroda, Union Bank were up between 2 to 5 percent.

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SVC Resources: Outcome of board meeting

May 09, 2013, 02.18 PM IST

SVC Resources has decided to allot 39,92,335 shares to Sushma Gupta and Alok Gupta at its meeting held on May 08, 2013.

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SVC Resources: Outcome of board meeting

SVC Resources has decided to allot 39,92,335 shares to Sushma Gupta and Alok Gupta at its meeting held on May 08, 2013.

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SVC Resources: Outcome of board meeting

SVC Resources has decided to allot 39,92,335 shares to Sushma Gupta and Alok Gupta at its meeting held on May 08, 2013.

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SVC Resources Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 08, 2013. SVC Resources has decided to allot 39,92,335 shares to Sushma Gupta and Alok Gupta at its meeting held on May 08, 2013.Source : BSE

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Matru Smriti Traders approves bonus issue in ratio 1:1

Matru Smriti Traders Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 08, 2013 have made the allotment of Bonus Equity Shares in the ratio of 1:1 (one new Equity shares for every one equity shares held) to the Public Shareholders (other than those belonging to the Promoter group) whose name appeared in the Register of Members of the Company as on the Record Date, i.e. May 07, 2013.The Shareholders of the Company in their Extra-Ordinary General Meeting held on April 15, 2013 have approved the bonus issue.Source : BSE

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Techno Electric board to consider dividend

Techno Electric & Engineering Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 18, 2013, inter alia, to :1. consider and take on record the Audited Financial Results of the Company for the Quarter and year ended March 31, 2013.2. consider and approve Audited Annual Accounts for the year ended March 31, 2013; and3. consider and recommend payment of Dividend, if any.Source : BSE

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Lakshmi Machine board to consider dividend

Lakshmi Machine board to consider dividend

Lakshmi Machine Works Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 22, 2013, inter alia, to consider and take on record the audited financial results of the Company for the financial year ended March 31, 2013 and also consider recommendation of dividend for the financial year 2012-13.

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Paper Products appoints director

May 08, 2013, 02.25 PM IST

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Paper Products Ltd has informed BSE that the Board of Directors of the Company has appointed Mr. A. Venkatrangan as Executive Director of the Company for a period of 3 years with effect from July 01, 2013.Source : BSE

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Malabar Trading appoints Viral Kapadia as additional director and MD

May 07, 2013, 02.15 PM IST

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Malabar Trading appoints Viral Kapadia as additional director and MD

Malabar Trading Company at its meeting held on May 07, 2013, has accepted the resignation of Mr. Rajeev Agnihotri from the directorship including Managing Director of the Company w.e.f. May 07, 2013 and appointed Mr. Viral Kapadia as an Additional Director and Managing Director of the company w.e.f. May 07, 2013.

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Malabar Trading appoints Viral Kapadia as additional director and MD

Malabar Trading Company at its meeting held on May 07, 2013, has accepted the resignation of Mr. Rajeev Agnihotri from the directorship including Managing Director of the Company w.e.f. May 07, 2013 and appointed Mr. Viral Kapadia as an Additional Director and Managing Director of the company w.e.f. May 07, 2013.

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Malabar Trading Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 07, 2013, inter alia, has taken the following decisions:1. Accepted the resignation of Mr. Rajeev Agnihotri from the Directorship including Managing Director of the Company w.e.f. May 07, 2013; and2. Appointed Mr. Viral Kapadia as an Additional Director and Managing Director of the Company w.e.f. May 07, 2013.Source : BSE

Read all announcements in Malabar Trading

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Atul board recommends 60% dividend

Atul Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 07, 2013, inter alia, has recommended a dividend of Rs. 6.00 per share (60%) subject to approval of the shareholders.Source : BSE

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Adi Rasayan: Updates on reduction of capital

With reference to the earlier announcement dated March 25, 2013 regarding reduction of capital, Adi Rasayan Ltd has now informed BSE that the Board of Directors have reconsidered its decision of reduction of capital and now decided to put on hold the proposal for reduction of capital till further intimation / notice.Further the Company has informed that, necessary intimation will be given to stock exchange as and when the Board of Directors decides to proceed with the said proposal of reduction of capital if any.Source : BSE

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Supertex Industries clarifies on increase in price

May 07, 2013, 02.19 PM IST

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Supertex Industries clarifies on increase in price

With reference to increase in price, Supertex Industries has clarified that no significant events have taken place in the organization in the recent past that had a bearing on the operation/ performance of the Company which could effect the price/volume behavior in the Company's scrip.

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Supertex Industries clarifies on increase in price

With reference to increase in price, Supertex Industries has clarified that no significant events have taken place in the organization in the recent past that had a bearing on the operation/ performance of the Company which could effect the price/volume behavior in the Company's scrip.

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With reference to Increase in Price, Supertex Industries Ltd has clarified to BSE that no significant events have taken place in the organization in the recent past that had a bearing on the operation/ performance of the Company which could effect the price/volume behavior in the Company's scrip. Further, there is no pending price sensitive information pertaining to the operations/performance of the Company.Source : BSE

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Sell Chilli, RMSeed on rally; Jeera below Rs 13000: Geojit

Geojit Comtrade has come out with its report on agricultural commodities. The research firm has recommended to sell Chilli, RMSeed on rally and Jeera below Rs 13000 in its report dated May 06, 2013.

Chilli Jul NCDEX: Prices broke the crucial horizontal support of 6250 and if persist to trade below the same might see selling pressure pointing to 6100/6000 levels.

RM seed June NCDEX: Rmseed prices slumped on Saturday and settled at 3471. As long as prices stay below 3500, could see sharp selloffs towards 3450 followed by 3422/3400 levels. Meanwhile, daily RSI is in neutral zone, which may hinder the downside moves. However, a direct rise above 3500 could see short covering rallies to 3545 levels. Major bullish rally would kick in only on a break above 3560 levels.

Jeera June NCDEX: If prices break the support of 13000, could see lower correction towards 12825.

Cardamom May MCX: After an initial weak trading session, prices gained momentum and closed the day at 760.1. It is now required to break the trend line support of 750 for triggering selloffs towards 725 followed by 700 levels. The daily RSI indicator is also supporting the same view. On the other side, if unable to break 750, expect rallies to 800 levels during the day. Major upside moves expected only on a close above 830 regions in the near term.

Strategy: Sell Chilli, RMSeed on rally and Jeera below Rs 13000

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Orient Green Power: Updates on open offer

Axis Capital Ltd ("Manager to the Open Offer") on behalf of Shriram Industrial Holdings Private Ltd ("SIHPL"/"Acquirer") and Orient Green Power PTE. Ltd. ("OGPTE") and Shriram Venture Ltd ("SVL"), has informed this Announcement to the public Shareholders of Orient Green Power Company Ltd ("Target Company"), pursuant to Regulations 18(7) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ("SEBI (SAST) Regulations"), in respect of the open offer ("Offer") to acquire up to 14,77,00,345 fully paid-up equity shars of face value of Rs. 10 each ("Equity Share") of the Target Company. The datiled public statement ("DPS") with respect to this Offer was published on March 01, 2013.Source : BSE

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DCB's AGM on June 05, 2013

May 06, 2013, 02.21 PM IST

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Development Credit Bank Ltd has informed BSE that the 18th Annual General Meeting (AGM) of the Bank will be held on June 05, 2013.Source : BSE

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Mahavir Impex: Outcome of EGM

Mahavir Impex: Outcome of EGM

Mahavir Impex at its EGM held on May 06, 2013 has considered the subdivision of equity shares capital such that each equity share of the company of face value of Rs 10 each is sub-divided into 2 equity share of face value of Rs 5 each.

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Hold Godrej Consumer Products, says Ventura

Ventura has recommended hold rating on Godrej Consumer Products  (GCPL), in its May 03, 2013 research report. The research firm expects, the company to post robust set of numbers in its domestic business going ahead on the back of new launches and increased A&P spends, continued distribution synergies and its focus in crème format.

During the quarter, GCPL launched a disruptive innovation in HI category (HIT Anti Roach Gel). Moreover, Godrej Consumer Products Ltd (GCPL) has displayed its consistency by clocking double digit revenue growth. We expect GCPL to post robust set of numbers in its domestic business going ahead on the back of new launches and increased A&P spends, continued distribution synergies and its focus in crème format (under hair colours category). In the international business, integration of operations in Africa and Argentina is expected to bring synergies over the next few quarters. Also, we remain positive on the Indonesian operations on the back of regular innovations and distribution expansions.

Given the fact that GCPL has a large number of brands under its umbrella (across emerging market geographies), we expect cross-pollination to play out over the next 2-3 years and add further scale to GCPL's operations. At a CMP of Rs 844, GCPL trades at a PE multiple of 33.0x and 28.1x its estimated earnings for FY14 and FY15. Given the rich valuations enjoyed by the company and limited upside from current levels, we recommend a HOLD on the stock. However, owing to the robust long term outlook for the company we recommend to add the stock on declines with a potential target of Rs 900.

GCPL continued its strong growth momentum during Q4FY13 by recording 29.7 percent YoY growth in revenues to Rs 1,715.5 crore led by robust 18.1 percent YoY growth in its domestic business (HI 26 percent YoY; Soaps 17 percent YoY with volume growth of ~4 percent and Hair Colors 27 percent YoY), which contributes ~55 percent to its consolidated revenues. Increased other expenses (+50.8 percent YoY) and higher A&P expenses (+9.5 percent of sales v/s 8.3 percent in Q4FY12) led to a contraction of GCPL's EBITDA margins to 16.2 percent (-260 bps YoY; -60 bps QoQ). While EBITDA grew by 12.2 percent YoY, PAT grew by 70 percent YoY on account of exceptional income of Rs 133.7 crore (sale of non-core food business in Indonesia) and lower provision for tax (-11.7 percent YoY).

As stated earlier, domestic business grew by 18.1 percent YoY led by robust growth in all its key segments - Home Insecticides (+26 percent YoY; ~2.1x category growth), Personal Wash Soaps (+17 percent; ~1.3x category growth) and Hair Colors (+27 percent; 2x category growth). Household Insecticides segment witnessed growth on the back of continued distribution synergy benefits and we expect this category to maintain healthy growth on the back of penetration and new innovative launches (latest launch being 'HIT Anti Roach Gel'). On the other hand, GCPL's soaps segment witnessed growth of 17 percent YoY primarily led by volume. The highlight for the quarter was Hair colors category as it witnessed strong turnaround (27 percent v/s 13 percent category growth; albeit on a low base) on the back of positive response from crème format (recent entry)," says Ventura research report.

Institutional holding more than 40% in Indian cos

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Buy Gujarat Pipavav Port, target Rs 70: GEPL Capital

GEPL Capital is bullish on Gujarat Pipavav Port and has recommended buy rating on the stock with a target price of Rs 70 in its May 03, 2013 research report.

"Gujarat Pipavav Port, in Q1CY13, GPPL reported 24 percent y-o-y growth in total revenues to Rs 1,245 mn as compared to Rs 1,004 mn in Q1CY12. Container volumes for the Q1CY13 witnessed a marginal drop of 2 percent y-o-y to 161,000 TEUs as compared to 165,000 TEUs in Q1CY12, however, on sequential basis the volume increased by 3 percent. There were in-all 7 vessels which skipped Pipavav Port in Q1CY13, which was due to the impact of Chinese New Year. Pipavav Rail Corporation (PRCL) witnessed 250 rakes operated in Q1CY13 (highest so far), which carried 103,911 TEUs to the hinterland.

On the other hand, Dry-bulk Volumes in Q1CY13 witnessed 10 percent slide y-o-y and stood at 0.56 mn tonnes as compared to 0.63 mn tonnes in Q1CY12. This decline was mainly due to deteriorating coal volumes which was the result of rail freight differentials. However, the impact of volume decline on revenue was not significant as the effect of lower volumes (of coal) was neutralized due to change in the handling of commodity mix. In Q1CY13, there was significant mix of Wheat and Fertilisers in the dry cargo, which enabled higher realizations and hence subsided the effect of volume decline.

Interest outgo of Rs 95 mn was down by 54 percent y-o-y. On cost front the company witnessed 22 percent y-o-y growth in total operating expenses to Rs 675 mn in Q1CY13. Operating cost which comprised of 55 percent of total cost, witnessed 37 percent increase on y-o-y basis on account of increase in equipment hire charges and high power and fuel cost. However, EBITDA margins witnessed 90bps jump to 45.8 percent vs 44.9 percent in Q1CY12.

Outlook: Timely expansion of port capacities and logical diversification in liquid logistics business is expected to augur well for GPPL over a period of time. Situation at the macro level seems changing with declining commodity prices and in tandem movement of inflation has already given the much awaited rate cuts, which is already auguring well for the economy. We strongly believe that with interest rate cycle on the reverse mode and some reformist steps taken by the government will turn the tables for the business climate. We maintain our buy rating and price target of Rs 70," says GEPL Capital research report.

Shares held by Central Governments/State Governments

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India's rating upgrade unlikely anytime soon: SP

Amid high public-debt levels and concerns about deficit and subsidies, the India growth story still remains positive, global rating agency Standard and Poor's (S&P) said today. However, the rating agency ruled out rating upgrade of India anytime soon.

India's growth track record is good in current circumstances as the RBI attempts to counteract loose fiscal policy . The market has factored in one ore two rate cuts this year, the agency added.

However, S&P warn that reform announcements recently made by the government did not suffice to ensure growth. The agency also pointed out that a large number of infrastructure projects were stuck and those in the pipeline were "historically bad".

Investments must be unlocked for growth and the government must find short to mid-term solutions of problems in the infrastructure, power and coal sectors.

Offering a global perspective, S&P said that Asia-Pacific growth would not be impacted by problems in the US and eurozone and in fact, forecasts Asia Pacific economies to perform better from hereon. "Nobody expects the eurozone to recover by next year and will muddle through while the US economy will pick up going ahead," the agency said.

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Taking away capital mgmt from RBI not advisable: Subbarao

Moneycontrol Bureau

Reserve Bank of India Governor Duvvuri Subbarao, who is known to have mind of his own, and has many times been at odds with the Finance Minister today voiced his discontent about the Financial Sector Legislative Reform Commission(FSLRC's) recommendations regarding capital inflows.

In an interview with CNBC-TV18's Latha Venkatesh, he stressed that taking away capital management from Reserve Bank of India is not advisable and that the central bank had made this suggestion to FSRLC when it was consulted.

"So we submitted but they have decided, the way they have decided. Now I believe the government will call for consultation and we will certainly not only put across our point but argue our point," he said.

FSLRC which was set up to rewrite and update all the archaic Indian financial sector laws has recommended that the government and not the RBI should make rules with respect to capital inflows. This recommendation is irrespective of whether the inflows are FDI, FII, forex loans or NRI deposits.

This recommendation has been strongly criticized by many economic and baking sector scholars including KJ Udeshi and YH Malegam. Subbarao said that FSLRC's argument on this is that external sector management with capital inflows has bearing on monetary policy, on financial stability and on bank regulation and hence RBI should not be handling capital inflows. 

Also read: Barring FDI, RBI must control all capital flows: YH Malegam

On Friday, RBI cut the repo rate by 25 basis points and pointed that further room for monetary easing was very little. Upside risk to inflation and high current account deficit (CAD) were sighted as two key reasons by RBI for its hawkish stance.

Today, Subbarao said that CAD could come close to 5 percent in 2012-13 and stressed that any improvement below 5 percent would be a good improvement on CAD. He said although India was able to finance 6.7 percent CAD up till January due to higher liquidity in global system, we can not depend on mere foreign capital flows. "We must have low and steady CAD financed by stable flows," he added.

Diesel price hike was seen as one of the key step in controlling the twin deficit-CAD and fiscal deficit, however oil retailers have declared on three prices hike since the fuel was deregulated. Subbarao also learned that diesel price hike was deferred on the back of fall in global crude oil prices, which gave oil retailers leeway to postpone the price hike. He however said that it would have been better if scheduled rise in April was taken by oil retailers.

On the recent cobrapost expose which involved leading private sector banks like ICICI Bank, Axis Bank, and HDFC Babk, Subbarao said that RBI was determined to take strict action against erring banks and will soon introduce systematic improvement in know your customer norms.

On the new banking licenses Subbarao said that RBI would constitute committee that will vet all applications only after June. He said that RBI would issue enough licenses to instill competition but would also make sure that they don't outnumber the existing players.

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KFA LENDERS INVOKE MALLYA'S PERSONAL GUARANTEE!



Friday: 10.30 pm, Saturday: 11.30 am

& Sunday: 11.00 pm

Published on Sat, May 04,2013 | 14:18, Updated at Sat, May 04 at 14:20Source : Moneycontrol.com |   Watch Video :

In a rare act of aggression, lenders to Kingfisher Airlines have invoked the personal guarantee offered by promoter Vijay Mallya. I say rare, because in this country bankers have hardly ever taken action against non-performing business promoters. Kingfisher Airlines that has been out of operation since October last year owes over 17 bank lenders approximately Rs 7000 crores. Of that, bankers claim they have collateral worth Rs 6350 crores, not counting the Kingfisher brand.  Last month, after having waited long and hard for Kingfisher to service its loans, banks sold some UB group shares that were pledged against the loans but that yielded them just about 550 crores. This week CNBC TV18 banking correspondent Gopika Gopakumar reported that banks have invoked Vijay Mallya's personal guarantee and a corporate guarantee offered by UB holdings, the group holding company. It seems at the time of offering a personal guarantee Mallya's networth was Rs 1500 crores, whereas UB holding's shares in group companies were worth Rs 8316 crores. So do bankers finally stand a good chance of recovering their money or rather depositors' money? To discuss that I am joined by Pramod Rao, Partner Indus Law and Former General Counsel of ICICI Bank and H Jayesh of Juris Corp both men well versed in matters of non-performing promoters and recovery proceedings.

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Buy SpiceJet, may hit Rs 45 soon: Tulsian

SP Tulsian of sptulsian.com feels SpiceJet has good potential to hit Rs 45 in next one week. He advised buying the stock.

Tulsian told CNBC-TV18, "The second stock which I feel that still has good upside potential in spite of having seen a good run up in this last one week is SpiceJet. The stake sale news may surface and apart from that company is gearing up to import the aviation turbine fuel (ATF). That will be seen quite positive and good cost reduction can be seen by the company on that account. The buying can make the stock to move to a level of Rs 45 in next one week to 10 days."

The stock rallied 6.4 percent to close at Rs 40.50 on Bombay Stock Exchange on Friday.

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Tata Steel can correct to Rs 300: Tulsian

SP Tulsian of sptulsian.com feels Tata Steel can correct to about Rs 300 in next week to 10 days. He advised going short in the stock.

Tulsian told CNBC-TV18, "I have gone short on Tata Steel because I do not see any reason for these ferrous metal stocks having moved up last week. The metal index has moved up because of the European Central Bank (ECB) cut rate by 25 bps and that has seen all the ferrous metal stocks having moved up. Tata Steel can correct to the level of about Rs 300 in next week to 10 days. So those who want to have a positional short can go short on that."

The stock gained 2.22 percent to close at Rs 311.20 on Bombay Stock Exchange on Friday.

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EXCLUSIVE INTERVIEW WITH IOSCO CHAIRMAN



Friday: 10.30 pm, Saturday: 11.30 am

& Sunday: 11.00 pm

Published on Sat, May 04,2013 | 14:17, Updated at Sat, May 04 at 14:21Source : Moneycontrol.com |   Watch Video :

The Global Securities Markets are shifting. At least the Global Primary Equity Markets are to this part of the world. In the 90s, 80% of global IPO's were done in OECD countries, now that's down to 40%. In 2006 the value of emerging market IPO's was roughly equal to that of US based IPO's. Now US based IPO's are down to half. This is but one big change facing securities regulators from across the world. The other is technology driven innovation, so High Frequency Trading, Dark Pools and what not! I spoke to Greg Medcraft, Chairman of the Board of IOSCO – the International Organisation of Securities Commissions as well as the Chairman of the Australian Securities & Investment Commission about the key challenges facing regulators today.

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16.02 | 0 komentar | Read More

Yes Bank fixes book closure for final dividend AGM

Yes Bank Ltd has informed BSE that the Register of Members & Share Transfer Books of the Bank will remain closed from May 27, 2013 to June 08, 2013 (both days inclusive) for the purpose of Payment of Final Dividend & 9th Annual General Meeting (AGM) of the Bank to be held on June 08, 2013.Further, dividend for FY 2012-13, if any, declared by the shareholders at the Annual General Meeting will be paid to the shareholders of the Bank during June 10, 2013 to June 14, 2013.Source : BSE

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JSW Energy fixes book closure for dividend AGM

JSW Energy Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from July 16, 2013 to July 25, 2013 (both days inclusive) for the purpose of Payment of Dividend & 19th Annual General Meeting (AGM) of the Company to be held on July 25, 2013.The Dividend, if approved by the shareholders of the Company, shall be paid on July 30, 2013.Source : BSE

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Info Edge recommends dividend

Info Edge (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 03, 2013, inter alia, has recommended a dividend for FY 2012-13 @ Re. 1.00 per share (face value Rs. 10 per share).Source : BSE

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BSE Sensex down 100; Tata Motors, SBI, BPCL top losers

14:19

Moneycontrol Bureau
Key equity benchmarks were trading volatile after RBI's credit policy announcement. The central bank left the cash reserve ratio unchanged at 4 percent and slashed the repo rate by 25 basis points to 7.25 percent.

The Nifty was down 50 points within minutes of policy announcement. However, it recovered all the losses in the early noon trade. The selling activity further picked up around 6000 levels and the Nifty was further down 1 percent demonstrating the volatile nature of the market. Bank Nifty, the barometer of banking stocks was down 2 percent.

The Sensex was down 127 points or 0.64% at 19608, and the Nifty was down 44 points or 0.74% at 5955. About 930 shares advanced, 1244 shares declined, and 142 shares remained unchanged. 

Key gainers in the Nifty were Jindal Steel, HCL Tech, Tata Steel, Sesa Goa and Hindalco.

Laggards included Tata Motors, SBI, BPCL, PNB and ICICI Bank, down between 3-4 percent.

Ambuja Cements disappointed the street with its first quarter earnings both on the topline and bottomline front. The company reported net income of Rs 488 crore and sales of Rs 2545 crore, way below estimates. The stock was down 1 percent.

JSW Energy reported 49 percent year-on-year growth in March quarter profit to Rs 336 crore boosted by higher tariff at Barmer plant and lower interest costs.

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BSL not recommended any dividend for March 2013

May 02, 2013, 02.28 PM IST

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Seshasayee Paper board to consider dividend

May 02, 2013, 02.28 PM IST

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HT Media: Updates on scheme of arrangement

May 02, 2013, 02.28 PM IST

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SRS Real Infrastructure changes its correspondence address

May 02, 2013, 02.28 PM IST

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SRS Real Infrastructure changes its correspondence address

SRS Real Infrastructure has informed that the Company's Correspondence Address has been changed from SRS Multiplex, Top Floor, City Centre, Sector 12, Faridabad to SRS Tower, 3rd floor, Near Metro Station Mewala Maharajpur, GT Road, Faridabad, (NCR Delhi) 121003.

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SRS Real Infrastructure changes its correspondence address

SRS Real Infrastructure has informed that the Company's Correspondence Address has been changed from SRS Multiplex, Top Floor, City Centre, Sector 12, Faridabad to SRS Tower, 3rd floor, Near Metro Station Mewala Maharajpur, GT Road, Faridabad, (NCR Delhi) 121003.

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SRS Real Infrastructure Ltd has informed BSE that the Company's Correspondence Address has been changed from " SRS Multiplex", Top Floor, City Centre, Sector 12, Faridabad. to SRS Tower, 3rd floor, Near Metro Station Mewala Maharajpur, GT Road, Faridabad, (NCR Delhi) 121003.Source : BSE

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From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

The latest earning numbers FIRST on CNBC-TV18

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Pope accepts Peres' invitation to Israel

Israeli President Shimon Peres invited Pope Francis on Tuesday to visit Israel, at his first meeting with the new pontiff who has appealed for peace in the Middle-East.

The Pope accepted the invitation "with willingness and joy," a Vatican spokesman said, but there was no indication when a trip would be made.

"I am expecting you in Jerusalem, not just me, but the whole country of Israel," Peres told the Pope in the presence of reporters after 30 minutes of private talks in the Vatican's Apostolic Palace.

Francis, the former Cardinal Jorge Bergoglio of Argentina, made an appeal for peace between Israelis and Palestinians in his Easter address.

A Vatican statement said they discussed prospects for a resumption of negotiations for a solution that would respect "the legitimate aspirations of the two Peoples, thus decisively contributing to the peace and stability of the region".

They also agreed on the need for a political solution to the civil war in neighbouring Syria.

Both of Francis's two immediate predecessors, John Paul II and Benedict XVI, visited the Holy Land, including Palestinian territories, in 2000 and 2009 respectively.

Peres asked Francis "to pray for all of us" and told the pope that he would pray for him during a trip on Wednesday to the central Italian city of Assisi, where he will visit the tomb of St Francis, whose name Bergoglio adopted when elected Pope.

Francis will travel to Rio de Janeiro in July to preside at the Roman Catholic Church's World Day of Youth, a gathering of young people from around the world. He is expected to visit his native Argentina in early 2014.

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Unilever-HUL deal largest Indian inbound MA on record

Unilever Plc's USD 5.4 billion bid for a 23-percent stake in Hindustan Unilever is the largest Asia Pacific cross border inbound merger and acquisition (M&A) deal so far this year and is the fifth largest India Inbound M&A transaction on record till date.

According to global deal tracking firm Dealogic, Unilever is the the fifth largest India Inbound M&A transaction on record, the largest being, Vodafone's 67 percent stake acquisition in the Hutchison-Essar Ltd (HEL) from Hong Kong-based Hutchison Group in 2007.

Also read:  Offer of Rs 600/shr for HUL fair; won't raise it: Unilever

Moreover, the Unilever deal is the second largest Asia (ex-Japan) targeted transaction in 2013, behind CP All plc's USD 6.6-billion takeover bid for Siam Makro pcl, announced on April 23.

On April 30, Anglo-Dutch consumer goods giant Unilever Plc will spend USD 5.4 billion (over Rs 29,380 crore) to hike stake in its Indian arm Hindustan Unilever to 75 percent through an open offer.

Unilever will pay Rs 600 a share in an open offer to raise its stake in Hindustan Unilever to 75 percent from the current 52.48 percent.

Some of the major inbound deals wherein a foreign company or its subsidiary had acquired an Indian entity in the past, includes BP's USD 9 billion acquisition of Reliance Industries' oil & gas assets and the acquisition of Cairn India by NRI billionaire Anil Agarwal led-Vedanta Resources for over USD 8 billion.

The United Kingdom has been one of the top acquirers of Indian assets over the years as another most prominent inbound deal also involved a UK entity Vodafone Group.

Other key inbound transactions include Japanese drug major Daiichi Sankyo Company's acquisition of majority stake in Ranbaxy Laboratories Ltd for up to USD 4.6 billion and US-based Abbott's acquisition of Piramal Healthcare's domestic formulation business for USD 3.72 billion.

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5.8 magnitude earthquake felt in JK

A moderate intensity earthquake rocked Jammu and Kashmir today but there were no reports of any casualties so far. "A tremor measuring 5.8 on the richter scale was recorded at 12.27 PM today," an official of the MET office said.

He said the epicentre of the earthquake was Baderwah area of the state and located 10 kms deep. Tremors were felt around from 1227 hours to 1234 hours, officials said. As per the intitial reports, about six buildings have suffered minor damages including 2 schools in Bhaderwah. The tremor shook the buildings in Srinagar and other parts of the Valley, prompting the residents to come out. Police said there are no reports of anyone getting hurt and any damage to the property due to the tremor in Srinagar. Yeaterday, an earthquake measuring 4.3 on the Richter scale had been felt in Bhaderwah and adjoining areas of Doda district.

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Mumbai's Metro rail service to begin in September: Chavan

The first phase of Versova-Andheri-Ghatkopar Metro Rail service is likely to commence by September this year and the entire phase will be operational by the year end, Maharashtra Chief Minister Prithviraj Chavan said here today. "We will start full passenger service by September and the entire stretch (11.4 kilometres Versova-Andheri-Ghatkopar corridor) by December," Chavan said after flagging off the first safety trial run of the Mumbai Metro here.

Chavan said the process of obtaining all mandatory safety certifications are underway, adding that the service will be functional once these certifications are received. He also said that the work on Navi Mumbai Metro project has also begun, adding that the project worth Rs 5,500 crore will be thrown open to the public this year. The first phase, Versova to Saki Naka, will have seven stations. The Mumbai Metro transit system under construction is designed to reduce traffic congestion in the city. The first phase of the Mumbai Metro project is being constructed by Mumbai Metropolitan Region Development Authority (MMRDA) and Reliance Infrastructure under public-private participation mode.

Also read: BHEL to focus on metro rail projects this year

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