TopNews

After the Commerce Department said consumer spending rose modestly in May, U. S. stocks were flat on Monday.

After a stagnant April, consumers cracked open their wallets a bit in May with spending rising 0.2 percent, while incomes rose 0.4 percent and prices declined less than 0.1 percent.

Permitting the auction of 500 megahertz of the wireless communication spectrum for U. S. commerce, President Barack Obama signed a memorandum on Monday.

The White House said in a statement that a memorandum nearly doubles the spectrum available to commercial uses, with 45 percent of the portion to be auctioned coming from government agencies that have been asked to give up portions of the spectrum.

In a move to fortify its attendance internationally and consolidate its position in India, UFLEX Ltd, a top Indian flexible packaging company, has declared that its aggressive business and investment plans of more than $250 million for the next two years.

Mr. Ashok Chaturvedi, chairman and managing director, UFLEX Ltd said, "We are setting up new units across the globe, primarily to cater to the global market. Our target is to have one billion dollar turnover by the year 2013."

Mr. Chaturvedi didn't discount the opportunity of acquiring units all over the world.

Stock market analyst Nitin Murarka of SMC Global is of the view that investors can buy Indian Oil Corporation Ltd (IOC) stock with target of Rs 420.

According to analyst, the traders can buy the stock on dips to Rs 380-373 with stop loss of Rs 370.

The stock analyst also said that the suggested target can be attained in a period of one month.

Today, the shares of the bank opened at Rs 399.95 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 418.10 and a low of Rs 258.75 on BSE.

Stock market analyst Ashwani Gujral has maintained 'buy' rating on Reliance Power Ltd stock to achieve a short term target of Rs 210.

According to analyst, the investors can hold the stock with stop loss of Rs 160.

Today, the stock of the company opened at Rs 493.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 181.80 and a low of Rs 137 on BSE.

Stock market analyst Vijay Bhambwani has maintained 'hold' rating on Balrampur Chini Mills Ltd stock with targets between Rs 90-120.

According to analyst, the investors can buy the stock with stop loss of Rs 74.

Mr. Bhambwani said that the investors can achieve the said target within a period of 15 to18 months.

The stock of the company, on June 28, closed at Rs 86.15 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 167.30 and a low of Rs 67.10 on BSE.