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After taking a pause on Monday, the domestic stock market finally regained its strength and closed the day with strong gains backed by the comments from Prime Minister Manmohan Singh that India can achieve a growth of 8% to 9% with a high savings rate.

The BSE Sensex closed higher by 461.08 points or 3.14% at 15,127 while NSE Nifty settled at 4,550.95, up 121.05 points or 2.73%. The BSE Sensex touched intraday high of 15,161.22 and intraday low of 14,526.69.

Kishore Biyani-promoted Pantaloon Retail has finally received nod for raising additional long-term funds of up to Rs 1,000 crore.

Yesterday, the company has secured the approval from its board for raising funds through issuance of equity-based securities to its investors by various means, including public or private offerings or qualified institutional placement.

Recently, the company raised Rs 368 crore by issuing equity shares and warrants to promoters and select investors.    

Diamond Cables has bagged an order worth Rs 140 crore from the Assam Electricity Board for electrification related work.     

The company has informed that it picked the order of a large power infrastructure project entailing electrification of North Cachar, Demaji and Kamrup districts of Assam.

The scope of work includes survey, re-engineering and laying of power infrastructure in these districts under the aegis of the Assam Electricity Board.     

Hyderabad-headquartered Infotech Enterprises Limited (IEL) has secured a multi-million dollar contract from Malaysia-based inCONTROL Tech (iTEC) for implementing GIS information system for Tonaga National Berhad (TNB), an electric Utility in Malaysia.

The implementation is considered as a part of TNB's long term GIS roll out plan for all their circles nationwide.

Stock market analysts have suggested traders to buy Satyam Computer to achieve an intraday target of Rs 71.

According to them, interested traders can buy the stock above Rs 66 with a stop loss of Rs 64.

If stock market remains positive, the stock pricing may become more attractive, and reach above Rs 73.

Shares of the company, on Tuesday (June 09), closed at Rs 66.85, up Rs 6.05 from its previous closure of Rs 60.80 on the Bombay Stock Exchange (BSE).

Tokyo  - Japan's key machinery orders hit their lowest level in 22 years in April as companies have cut their capital investments amid the global economic slowdown, the Cabinet Office said Wednesday.

Core orders, which exclude those for ships and power equipment, dropped to 688.8 billion yen (7.03 billion dollars), down 5.4 per cent in April from the previous month.

The figures were down 32.8 per cent in unadjusted terms compared with a year before.