Big Expectations From Reliance Energy - Gujral

Technical Analyst Ashwani GujralTechnical Analyst, Ashwani Gujral is of the view that Reliance Energy can touch Rs 720.

Mr. Gujral said that Tata Power and Reliance Energy are the strongest options. Reliance Energy beyond Rs 580 is poised to go up to Rs 720 and for Tata Power, Rs 620 is a key level that should probably be headed in the direction of Rs 750-760.

“I think some rub off from the capital goods space, those electrical equipment stocks is now rubbing off even to the energy stocks,” He added.

Congress Wins Madurai West Seat By 31,115 votes

CongressMadurai: Congress applicant K.S.K Rajendran won the Madurai West assemblage electorate by a margin of 31,115 votes over his closest AIADMK opponent Sellur K Raju.

The Congressional applicant, part of the DMK-led Democratic Progressive Alliance, was chairing since the vote counting process started at 8 am today.

The by-poll on June 26 was required because of the death of revolutionary AIADMK member S.V. Shanmugham.

HDFC To Reach Rs 2200 Shortly

Technical AnalystHDFC Bank, Ashwani Gujral is of the opinion that Housing Development Finance Corporation (HDFC) has aim of Rs 2200.

Gujral stated, “I think definitely financial space has a lot of strength, the PSU sector was lagging but now with inflation coming down, I think PSU banks will also catch up.”

One will see Rs 1350 shortly on HDFC Bank as it has made a fresh breakout, and HDFC is now hovering to attain a target of 2200.

C & C Constructions Shoot Up On New Order

C & C constructionsC & C constructions trading up 2.04% to Rs 209.60 after its combined deal secured a Rs 400-crore road pact in north India from the National Highways Authority of India.

The scrip touched a high of Rs 214 and a low of Rs 200.15 during the day. On BSE, 1.75 lakh shares of the scrip were traded. In the last one quarter, the stock had an average daily volume of 81,195 shares on BSE.

Torrent Pharma Top Gainer at BSE

Torrent PharmaTorrent Pharma ascended 6.61% to Rs 257.95 and topped gainers in BSE’s ‘A’ group shares. The other gainers in the list were ABB, LIC Housing Finance, Reliance Energy and GMR Infrastructure.
Freshly, Torrent Pharma Ahmedabad based healthcare company had instigated Rimonabant, which is an anti-obesity molecule, for the first time in India under the trade name Rimoslim. The drug aims many cardio-metabolic risk factors that can lead to obesity, type 2 diabetes or dyslipidaemia.

Red Fort Gets World Heritage Site Rank

Red FortNew Delhi: The UNESCO has given the world heritage status to the the 17th century Mughal wonder, Red Fort on Thursday.

Opposed against 45 other sites from all over the world, the 'Red Fort' is among the four cultural sites that were picked out by UNESCO's World Heritage Committee that is presently assembling in New Zealand to select the next heritage sites.

Glenmark Pharmaceuticals Soars High As USFDA Okays New Drug

Glenmark PharmaceuticalsGlenmark Pharmaceuticals climbed up 1.05% to Rs 430.50 after getting final approval from the US Food and Drug Administration for its abbreviated novel drug applications.

The scrip touched an intraday high of Rs 668 and an intraday low of Rs 648.10 during the day. On June 2007, it touched a 52-week high of Rs 735 and a 52-week low of Rs 265.50 on 28 June 2006.

There were over 1.14 lakh shares for trading on the BSE counter. In the last one quarter, the average daily volume in the stock was 2.03 lakh shares. The scrip turned down from Rs 680.60 on 15 June 2007 to Rs 650.70 on 28 June 2007.

Sun TV Shines Vibrantly On Strong Q4 Results

Sun TVIn early trades, Sun TV Network climbed 5.41% to Rs 1,610 on recording a 310.9% increase in net profit in Q4 March 2007. The results were declared after market hours on Thursday 28 June 2007.

The scrip touched a high of Rs 1,641 and a low of Rs 1,545 during the day. Its 52-week high was Rs 1,849 on 8 February 2007 and 52-week low Rs 950 on 28 June 2006. Strong Q4 results lets sun TV shines brightly.

Sun TV Network’s share price ascended from Rs 1,322.15 on 8 June 2007 to Rs 1,620.85 on 26 June 2007. The stock had slumped since then to Rs 1,527.35 on 28 June 2007.

Bajaj Auto Loses on Lack of Activity

Bajaj AutoAfter turning ex-dividend, Bajaj Auto lost 1.61% to Rs 2,095 in afternoon trading. The company announced a dividend of RS 40 a share of face value Rs 10 in May 2007.

During the day, the scrip touched an intraday high of Rs 2,133, and an intraday low of Rs 2,088. There were 37,418 shares on the counter. It had an average daily volume of 1.20 lakh shares on BSE in the last one quarter.

At the existing price of Rs 2,095, the scrip trades at a PE multiple of 17.13, which is based on year ended March 2007 earning per share of Rs 122.27.

Reliance Petroleum Continues Its Recent Upsurge

Reliance PetroleumContinuing its recent rise, Reliance Petroleum gained 3.26% to Rs 112.60 in afternoon trading.

Today, the scrip had touched its all-time high of Rs 112.50. It hit a low of Rs 109.30 during the day thus far. It has had its 52-week low was Rs 51 on 25 July 2006.

There were 55.22 lakh shares for trading on the BSE counter. In the past one quarter, the normal daily volume in the stock was 33.94 lakh shares on BSE.

Pfizer Bounces On Strong Q2 Results

PfizerOn reporting a 618.19% increase in net profit in Q2 May 2007, Pfizer lifted 1.18% to Rs 820.10 in afternoon trades. The quarterly results were declared during the market hours.

During the day, the scrip touched an intraday high of Rs 840 and an intraday low of Rs 808. It has had its 52-week high of Rs 965 on 10 October 2006 and 52-week low Rs 666.10 on 28 July 2006.

On BSE, there were 93,947 shares for trading on the counter. In the last one quarter, the standard daily volume in the stock was 9,795 shares. Its share price declined from Rs 852.20 to Rs 802.60 on 22 June 2007. It rose from here to reach Rs 810.50 on 27 June 2007.

Manmohan Will Soon Finalize Indo-US Nuclear Deal

Prime Minister Manmohan SinghNew Delhi: With discussions on two-sided contract to operationalize Indo-US civil nuclear deal, Prime Minister Manmohan Singh stated that that it would be done soon.

“There are one or two issues to be resolved,” Mr. Manmohan said referring to the planned 123 arrangement.

While addressing the reporters on the sidelines of a book release function, he showed sureness that the deal will be nailed down in a little while.

He added that he would take Parliament into confidence after the deal gets finalized.

Nirma Declines On Quarterly Net Loss

Nirma Ltd.Today, Nirma Ltd touched a low of Rs 181 after the soaps and detergents maker posted an unaudited net loss of Rs 93.45 crore for the March quarter.
For the year-ago quarter, the company had recorded a net profit of 95.17 crore on an unaudited basis. The shares are now trading 3.5 per cent lower at Rs 186.55.

Sensex Gains 105 Points In Early Trading

Mumbai: On BSE Sensexrapid buying by funds in heavy-weight stocks led by cement sector, the BSE Sensex soared by more than 105 points in early trade. Select stocks from cement, banking, telecom and pharma traded strong while auto stocks led the declines.
The BSE-30 share index, Sensex, which had vanished more than 70 points on yesterday’s closing, rise dramatically by 105.98 points at 14,537.04 in the first five minutes of trading. In the same way, the wide-based National Stock Exchange's index Nifty shot up by 42.45 points at 4,291.40.

Shiv Sena In No Mood To End Coalition With BJP

Shiv Sena chief Bal ThackerayMumbai: The Shiv Sena cleared up that it did not wish to cease its grouping with the Bharatiya Janata Party (BJP) over the president selection matter. On Monday night, the political party made a decision to back up the UPA applicant Pratibha Patil as she was a woman and a Maharashtrian.

BSE Consumer Durables Index Hits All-Time High

BSE Consumer Durables closed at its all-time high of 4,216 after gaining 52.71 points, or 1.27%.

The index also hit a peak of 4,261.51 during the day.

The components taking the index to achieve its all-time high were Titan Industries, which climbed up 3.92% to Rs 1329.40, Rajesh Exports that arose 0.13% to Rs 525.85, Gitanjali Gems benefited 0.37% to Rs 204.20 and Lloyd Electric gained 3.92% to Rs1329.40.

In BSE Consumer Durable index, Titan Industries, Rajesh Exports, Gitanjali Gems and Lloyd Electric showed high weightages of 34.01%, 8.14%, 5.03% and 4.03%, correspondingly.

CPI Panel Backs Panel Reports On Suspension

New Delhi: Communist Party of IndiaYesterday, the central committee of the Communist Party of India (Marxist) supported the Polit Bureau’s verdict to suspend Kerala Chief Minister V.S. Achuthanandan and party State secretary Pinarayi Vijayan. However, the party did not set any time period for the action of the corrective action.

While talking to the media at the end of the committee’s three-day meeting general secretary, Prakash Karat stated that the organizational situation in Kerala was also conferred. At its next meeting, the group would take stock of the situation.

AIA Engineering At 52-Week High

AIA Engineering LimitedToday, AIA Engineering has touched its 52-week high of Rs 1,718. At 12:31 pm, the share is trading at Rs 1,685.50, up Rs 83.95, or 5.24%.
The scrip is trading with volumes of 95,302 shares. Yesterday the share closed after gaining 0.20% or Rs 3.20 at Rs 1,601.55.

Market May Remain Volatile – Ashwani Gujral

Ashwini GujralThe stock market (BSE) has followed the same volatile pattern once more. It remains strong throughout the week, and analysts have suggested a strong resistance level at 14595.
The support for the Sensex is at 14425, and the resistance to the up move at 14526-14540-14584-14594. On the other hand, the support for the Nifty is at 4236 and resistance to the up move at 4286-4290-4322.
According to Ashwani Gujral the Nifty would trade in a higher place at 4,300, before any major rectification kicks in.

No Impact Of JV Deal On Sail Stock Value

In early tradeSteel Authority of India, Steel Authority of India was trading nearly flat at Rs 133.10 after it signed up an memorandum of understanding (MoU) with Manganese Ore India to form a joint venture to manufacture ferro-manganese and silico-manganese.
During the day, the scrip touched a high of Rs 134 and a low of Rs 132.70. The scrip has had its 52-week high of Rs 149.95 on 28 May 2007 and a 52-week low of Rs 64.25 on 24 July 2006.

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