ONGC Moves Up 33 Ranks On Fortune Listing

Oil and Natural Gas CorporationNew Delhi: Oil and Natural Gas Corporation (ONGC) lifted 33 notches to 369th position in the newly issued 2007 version of Fortune Global 500 list.

According to the company release, “After making a debut in the turnover-based annual Fortune Global club two years ago (with a rank of 459), ONGC has moved up steadily, thanks to its advancing topline.”

Market Ends Marginally Up After Weak Performance

Bombay Stock ExchangeThe BSE share index opened its eyes on a positive note at 15,295.03. Later on, it slipped into depressing zone and continued to trade flat for most part of the day. It also touched an intra-day high of 15,341.38 to end the day on a positive note.

Cement stocks were in the public interest, whereas IT, pharma and banking stocks led the declines. Auto stocks displayed mixed inclination.

TCS Q1 Income Up, Declares Dividend

Tata Consultancy Services LtdTata Consultancy Services Ltd (TCS) has annunciated the following audited outcomes for the quarter ended June 30, 2007. The consolidated results are as follows:

North Korea Shuts Down Its Nuclear Reactor

U.S. National Security Advisor Stephen Hadley said it seems the North Korean have indeed close down their major plutonium reprocessing facility at Yongbyon, about 100 km north of Pyongyang.

Ford To Sell Volvo, Reports

Ford Motor Co.Dearborn, Mich. - Ford Motor Co. is setting to sell its moneymaking Volvo luxury brand as it works to return its North American operations to profitability, according to reports.

The Sunday Times reported, the decision to sell Volvo, a part of Ford’s Premier Automotive Group, was made in the past two weeks, but that the timings of the sale had still to be decided,

Thrilling Q1 Figures Turn On PFC

Power Finance CorporationPower Finance Corporation made 14.07% to Rs 199.85 after its quarterly net earnings soared 103.18%. The company announced its quarterly results during the market hours today, 16 July 2007.

Today, the intraday peak of the scrip was Rs 199.90, and an intrady low of Rs 177. It has has its 52-week low of Rs 101 on 3 April 2007.

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News in Focus

IRFC, IREDA, RITES, Dredging Corporation, BPCL Share Price Jumps on Strong Buying

Indian markets witnessed strong buying in select public sector companies on Monday. Nifty closed 0.47 percent higher after touching intraday high at Rs 24,526.

State Bank of India (SBI) Share Price Target at Rs 915: Motilal Oswal Research

State Bank of India’s (SBIN) fourth-quarter performance delivered a nuanced mix of stability and pressure.

JSW Infrastructure Share Price Target at Rs 345: ICICI Securities

ICICI Securities has reiterated its BUY recommendation for JSW Infrastructure (JSWIL) with an upgraded target price of Rs 345, reflecting a 17% up

Adani Power Share Price at Rs 610: ICICI Securities

Adani Power continues to assert its dominance in India’s thermal generation sector, riding high on operational scale-ups, improving efficiencies, and robust long-term capacity planning.

Centre Asserts All Betting Equals Gambling: Fantasy Sports Face Crucial Tax Reckoning in Supreme Court

In a landmark submission to the Supreme Court, the Government of India has challenged the long-standing distinction between games of skill and chance by asserting that any form of betting amounts t