Torrent Cables Soars To A 52-Week High On Strong Q1 Results

Torrent CablesTorrent Cables rose 2.47% to Rs 224.20 in afternoon trading after it announced a 178.63% increase in net profit in Q1 June 2007. The company announced the results during the market hours.

In the meantime, the BSE Sensex was down 12.47 points, or 0.08%, to 15,298.75.

The scrip touched an intraday high of Rs 240.65, which was its 52-week high, and an intraday low of Rs 220.15 during the day. The stock had hit a 52-week low of Rs 94 on 27 July 2006.

India Calls For Making ‘Hindi’ Official UN Language

New York: India has asked all UN member states to take prompt and substantial steps for making Hindi, the second most spoken language in the world. It also made an eager and ardent appeal to all Indians settled overseas to put pressure on their respective governments for backing the proposition.

The offer would take time as the politicians and representatives would have to persuade other countries to get their accompaniment.

Haneef’s Lawyers To Holdup His Bail Posting

Melbourne: Lawyers for Mohammed Haneef may holdup posting his bail as they plan a plea against Immigration Minister Kevin Andrews' assessment to terminate the Indian doctor's work permit.

The move will suggest the Gold Coast-based doctor, who is charged with backing up a terrorist group, will stay in police custody in Brisbane.

Magistrate Jacqui Payne settled Haneef bail yesterday on a $10,000 warranty but the Immigration minister’s resolution means he will be shifted to Sydney’s Villawood immigration detention centre once his bail is stationed.

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. International inspectors have arrived in North Korea.  

Hadley said, “The inspectors from the International Atomic Energy Agency are on the scene with their equipment,” “They will go to the facility and they will be able to confirm that in the next few days, but it appears that the facility is shut down.”

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.

Allahabad Bank declared Net Profit of Rs 200 Cr In Q1

Allahabad bankMumbai: Allahabad bank has declared its quarterly earnings on Saturday. It recorded 56.26 per cent enhancement in net earnings that stood at Rs 200.39 crore for the quarter ended June 30, against Rs 128.24 crore in the same period of the last year.

For the first quarter ended June 30, 2007, the bank’s total income zoomed 40.16 per cent to Rs 1535.10 crore from Rs 1095.20 crore in the same period last year.

Shares of the bank closed after making a profit of 3.27 per cent at Rs 91.70 on yesterday.

July Print Edition Preview : Third Edition for July

In the edition of current week, Topnews takes a look at the Results for the Quater for several sectors and finds out the best investment bets for you. With markets on their All Time Highs, it becomes difficult to choose some investment options. Finance Minister is confident about India Growth Story and aims at achieving 10% rise in GDP.

Editior's Picks of the week.

Haneef's Wife Appeals To Manmohan For Help

Prime Minister Manmohan SinghBangalore: On Saturday, Mohammed Haneef's wife Firdaus requested to Prime Minister Manmohan Singh and Defence Minister A K Antony to assist her ‘guiltless husband’ who has been charged with backing up a terrorist group in Australia.

Britain, US relations Will Become Stronger, Says British PM

British cabinet ministerTony Blair & George Bush said a nation’s strength depends on the alliances, not military might, but Prime Minister Gordon Brown has denied his government was moving its foreign policy away from the US.

British media suggested the speech by International Development Secretary Douglas Alexander was a subtle critique of US President George W. Bush’s policies, and a signal that Brown wants to avoid being labeled Bush’s “poodle”, as former prime minister Tony Blair was.

OBC To Focus On Priority Section

Oriental Bank of CommerceKolkata: Hampered by the shocking record in priority segment lending in eastern region, Oriental Bank of Commerce (OBC) held a meeting of all the 44 section heads in the region including West Bengal, Sikkim and Assam to fix up schemes to raise the bank’s exposure towards this sector.

Markets Expected To Touch 15,500 this Monday

According to Bharat Thakur, assistant manager, Karvy Stock Broking the stock market is likely to lift up further on coming Monday (July 16).

He said that BSE Sensex breached 15,300 level and is expected to touch 15,500 on Monday.

According to Mr. Thakur, NDTV India and Opto Circuits are likely to trade well on Monday and holds confident view on media sector in particular.

Ashwin Gada, senior dealer, Networth Stock Broking said expects some correction to happen on Monday. Lower level buying can be done in real estate and construction companies.

Sotheby’s Auctions Mahatma’s Letters

Mahatma Gandhi
London: The handwritten drafts of a series of articles and autographed letters of the father of the nation – Mahatma Gandhi were auctioned by Sotheby’s on Thursday, 12 July 2007, as part of its English Literature and History sale.

Prime Minister To Visit Jammu On Sunday

Prime Minister ManmohanPrime Minister Manmohan Singh Singh arrives in Jammu on Sunday to receive an honorary doctorate of letters (D Litt) at a special ceremonial occasion in Jammu University.

Dr. Manmohan Singh has been the recipient of honorary doctorate degrees from various National as well as International universities.

Government To Launch ‘Green India’

Green IndiaNEW DELHI: The Government has planned to undertake a major afforestation programme for greening 6 million hectares of degraded forest land; It would be one of the world’s largest afforestation efforts in recent times, said Prime Minister Manmohan Singh on Friday.

UNPA To Abstain From Voting

New Delhi: United National Progressive AllianceAfter a decisive meeting on finalization of presidential election policy, the leaders of the United National Progressive Alliance (UNPA) has decided to keep off voting and not support NDA backed presidential confident Vice President Bhairon Singh Shekhawat.

Considering Prathibha Patil’s contention, the UNPA leaders stated they are taking a “witting” decision to not back up the UPA candidate.

The UNPA leaders also clarified that they would plan their own independent applicant for the Vice-Presidential elections.

Pervez Musharraf A Valued Partner, Says US

President Pervez MusharrafThe Bush administration said its views on significance of Pakistan in war on terror have remained unchanged after the operation of Lal Masjid, and restated that President Pervez Musharraf was a valued partner and ally.

State Department Deputy Spokesman Tom Casey said, “I don’t think our views on Pakistan are any different today than they were yesterday or last week.”

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