Forex Reserves Drop $346 Mn with in a week Ending Aug 10

As on Aug 10, 2007, Forex reserves went down USD 346 million to USD 228.996 billion, mainly on the back of declension in foreign currency and assets accumulations on a weekly basis.

According to the RBI’s weekly statistical supplement released on Aug. 17, 2007 the foreign currency and assets decreased USD 221.653 billion.

The gold reserves and the IMF reserve position remained flat at USD 6,887 million and USD 455 million correspondingly during the same period.

Stock Markets Sign Off In Volatile Mood, Metal, IT Linger

BSE SensexIndian stocks turned down for the third day, with the key index witness its

VISA Steel Enters JV With Baosteel

Baosteel GroupKolkata: Visa Steel has entered into a joint venture contract with China’s Baosteel Trading and VISA Comtrade of Switzerland for establishing a 1 lakh tonne-per-annum ferro chrome facility in Orissa.

The joint venture company will be named ‘VISA BAO,’ in which VISA Steel will hold a 51% stake, while Baosteel Trading and VISA Comtrade will hold 35% and 14% stakes, correspondingly.

Reshuffle At Satyam Computers Top Level

Satyam Computer ServicesHyderabad: Satyam Computer Services annunciated that four of the

I Have Complete Faith In A Higher Force, Says PM

PM Manmohan SinghNew Delhi: Manmohan Singh stated that although the Oppositio

Bank Credit Climb Up 23.4%

The credit paid out by listed commercial banking institutions arose 23.4% (Rs 3,654.48 billion) on a yearly basis on Aug. 3, 2007 that is under the growth of combined bank deposits of 24.3%.

Pages

News in Focus

Arvind Limited Share Price Target at Rs 670: Motilal Oswal

Motilal Oswal Financial Services has reiterated a BUY on Arvind, setting a target of Rs 670 against a market price of Rs 557, an upside of about 20 percent.

State Bank of India (SBI) Share Price Could Reach Rs 1,272: DRChoksey Research

DRChoksey Research has maintained a BUY on State Bank of India, setting a sum-of-the-parts target of Rs 1,272 against a market price of Rs 1,062, an upside of about 20 percent.

Fusion Finance Share Price Target at Rs 240: ICICI Securities

ICICI Securities has maintained a BUY on Fusion Finance, holding a target of Rs 240 against a ruling price of Rs 206, an upside of about 17 percent.

Gokaldas Export Share Price Target at Rs 1,110: Motilal Oswal

Motilal Oswal Financial Services has reiterated a BUY on Gokaldas Export, setting a target of Rs 1,110 against a ruling price of Rs 761, an eye-catching upside of about 46 percent.