TopNews

Rahul Mohindar said that ‘Unitech’ has support at Rs 550.

Mr. Mohindar said: “Real estate and infrastructure these are –these are spaces that we linked. On declines we are looking at buying opportunities. We have been commending Unitech for some time, Rs 620-650. Those are the medium term and long term targets respectively. I think the intra-day correction that we have seen today is really an opportunity to buy. There is very big support at about Rs 550 for this stock. So, Unitech would be one, which we will pick in real estate.”

Seattle: Amazon.com Inc.’s recorded three-fold increase in its profit for the second quarter ended June 30, 2007.

The company stated that its income boosted on the back of healthy sales of books, music and electronics internationally. The company’s stock surged 12.5 percent in after-hours trading.

The web retailer’s earnings for the three months mounted to $78 million, or 19 cents a share, as compared to $22 million, or 5 cents a share in the same period last year.

The quarterly results exceeded Wall Street’s outlooks. Analysts estimate a profit of 16 cents per share.

The 30-share index opened unenthusiastically and trading weak. Select stocks from IT led the advancements while auto, cement, telecom and banking led the declines.

Asian markets also turned down in the early sessions on fears of the rejection in the housing demand in USA.

Bharat Thakur, assistant manager, Karvy stock broking told that some profit booking is expected to take place today. He is confident on power sector and commends Reliance Energy and HDFC for trading.

Pratibha Patil will become India’s first woman President as she will be sworn in as the 12th Preside

Castrol India zoomed 11.03% to Rs 280.35 and lead gainers path in BSE's ‘A’ group shares.

Ambareesh Baliga of Karvy Stock Broking is of the view that investors wi