Showing great resilience, the Indian bourses concluded the terror-struck week on a positive note as key indices bounced back from their three-year lows after the US proposed fresh rescue plans for the financial sector, and Q2 GDP growth was above expectations at 7.6%. The bounce during mid-week was triggered by growing optimism that many governments, [...]
The Bombay Stock Exchange (BSE) and National Stock Exchange markets will be closed on Thursday, a spokesman for Securities and Exchange Board of India said, after a series of attacks killed at least 86 people in the financial capital Mumbai. “It has been decided there will not be any trading today in the two exchanges,” [...]
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Kotak Securities has maintained its Buy rating on Satyam Computer with a target price of Rs 373. A report released on November 25 said: “Satyam maintained that, the macro scenario has remained challenging with the crisis in the US BFSI sector spreading globally and to other verticals. While the spending decisions are getting delayed, the [...]
Pinc Research has maintained its Hold rating on Tata Chemicals. A report released on November 25 said: “Tata Chemicals announced successful refinancing of the $300mn bridge loan it had taken for funding the General Chemicals Industrial Products Inc (GCIP) acquisition in March 2008. The syndicated loan facility has been raised at LIBOR plus margin grid [...]
Kotak Securities has maintained its Reduce rating on UTV with a revised target price of Rs 350. A report released on November 18 said: “At the current price levels, the stock is trading at 12x our consolidated FY10E and 15x FY09E earnings, respectively. Stripped of deferred tax write-backs availed in Q2FY09, the stock post its [...]
The bellwether index closed lower by 207.59 points at 8,695.53, with heavyweight Reliance Industries taking a big hit of over 6% After a promising start, the Bombay Stock Exchange benchmark Sensex on Tuesday fell by over 250 points on fag-end selling across counters barring consumer durables. The bellwether index closed lower by 207.59 points at [...]
Subex Azure’s Q2FY09 results came in below expectations. While EBIDTA was marginally higher, lower other income component impacted net profit. Mark-to-market (MTM) loss on foreign borrowings stood at Rs706 million for the quarter. Order booking higher q-o-q but we remain concerned about the macro headwinds. Management maintains FY09 products revenue guidance of Rs 5 billion [...]
Reliance Industries (RIL) has closed five of its seven polyester and petrochemical units at Patalganga near Mumbai soon after offering exit option to employees.The move, which comes in the backdrop of a global slowdown, aims to improve profit margin amidst falling demand for polyester products worldwide.According to reports the company has shut down plants for [...]
IPCA Laboratories’ total income for during Q2FY09 grew 21.4% to Rs3.48 billion as compared to Rs2.86 billion in Q2FY08, led by better performance in domestic as well as international formulation business. Revenue from international markets grew 19.6% to Rs1.65 billion as compared to Rs1.38 billion, contributing 46% of total sales. Domestic sales grew 18.7% to [...]
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