Investors with a horizon of 6-12 months can consider following scrips for their investment. These companies have potential to give higher returns than index over a long term.
TATA Steel has achieved its target of 708

Corporate Highlights

Engineering and construction major Larsen & Toubro (L&T) had inked a joint venture agreement with Japan-based Kobe Steel for manufacturing internal mixers and twin screw roller-head extruders for the tyre and rubber industry for global markets, including India.

Camlin, the country's leading producer of stationery items, has signed a Memorandum of Understanding with Zebra Company Ltd of Japan for marketing the latter's writing instruments in India. Initially, Camlin will be selling Zebra's products in India which could be later expanded to SAARC countries. Both companies have agreed to set up a manufacturing unit in India once Zebra's products are marketed upto expectations.

Navratna PSU Coal India is likely to float tenders for 18 mines that were abandoned despite holding an estimated 1.6 billion tonnes of reserves in April and not this month. In December last year, the coal major said it would float the tenders in January this year.

Drug firm Aurobindo Pharma has received approval from the US health regulator to manufacture and market generic levofloxacin tablets, used for treating bacterial infections, in the American market. The company has received the tentative approval from US Food and Drug Administration (USFDA) to manufacture and market levofloxacin tablets in the strengths of 250 mg, 500 mg and 750 mg.

Aditya Birla Group firm Ultratech Cement will invest around Rs 10,000 crore over the next three years to enahnce its annual capacity by 9.2 million tonnes, expecting up to 10% growth in demand.

Economy Highlights

In a bid to tame prices that has seen annual food inflation soar to double digits, India's central bank on Tuesday hiked its short-term lending and borrowing rates by 25 basis points that could make commercial, housing and auto loans dearer. Reserve Bank of India (RBI) Governor Duvvuri Subbarao hiked the repurchase or repo rate to 6.5% from 6.25% and reverse repo rate to 5.5% from 5.25 % . Other rates like cash reserve ratio and statutory liquidity ratio remained unaltered.