After forming a “hammer” pattern the prices of this counter bottomed out and the upward movement gained strength after overcoming resistance of 40-week SMA in March’09 forming a bullish candle. The stock since then moved up nicely only to find resistance in Oct’09 of an ascending Gann line (from Jan’08 high) and we can note [...]
West Coast Paper Mills Ltd (WCPM) is the flagship company of Kolkata based S K Bangur group, which also owns Rama Newsprint & Papers Ltd. The company is primarily engaged in manufacturing paper and pulp. Its products include various kinds of paper such as printing, writing and wrapping paper. It also supplies paper for industrial [...]
The benchmark Nifty closed strong for third consecutive day on short covering and positive global cues. The index rallied 259 points in three days and got back above the 5050 level while for the week it gained just 134 points. The Sensex closed at 16863, up 196 points and the Nifty was at 5066, up [...]
The benchmark Nifty showed magnificent recovery in last two days and closed above 5,000 mark on May expiry day, led by strong global cues and buying in heavyweights. Global cues led the support today’s as well. European markets rallied 2-2.4% at the time of closing of Indian equities post China’s comments on investments in Europe [...]
JMC Projects is a construction and engineering major having expertise in varied segments such as roads, bridges, power, industrial construction and housing and commercial construction. A healthy order-book, tie-ups with bigger companies for better projects, repeat orders from clients, kick-off into build-own-operate projects are factors that boost the prospects of this company. Increased infrastructure spending [...]
On CNBC-TV18’s special show ‘Your Stocks’, A Balasubramaniam, CEO, Birla Sun Life AMC, revolves investors’ queries on mutual fund investment. Below is a verbatim transcript. Q: I am investing in Reliance Growth Mutual Fund for the past eight-nine months, I have done a SIP (Systematic Investment Plan) of Rs 1000 per month, and can you just [...]
The following bulk deals were transacted at the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on May 21: V S NET bought 2,000,000 shares at Rs 97.1 a share of Ruchi Soya Industries.(BSE) V S NET bought 1,400,000 shares at Rs 96.89 a share of Ruchi Soya Industries. (NSE) JPMSL On Account [...]
Abbott India has acquired Piramal’s Healthcare Solutions business (Domestic Formulations) for an up-front payment of USD2.12 billion and an additional USD400 million annually for the next four years. The acquisition will accelerate Abbott’s emerging markets growth following the recent acquisition of Solvay Pharmaceuticals and announcements last week of Abbott’s collaboration with Zydus Cadila. “This strategic [...]
Jaypee Infratech, a subsidiary of Jaiprakash Associates, listed at Rs 98, below its issue price of Rs 102. In an exclusive interview with CNBC-TV18, Sanju Verma, CEO-Institutional Business, Proactive Universal Group and SP Tulsian, sptulsian.com, speak about the company and give their outlook going forward. Here is a verbatim transcript of the exclusive interview on CNBC-TV18. [...]
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Pramerica Mutual Fund to start Operations
Pramerica Asset Managers Private Limited (PAMPL), the Indian asset management venture of U.S.-based Prudential Financial, Inc. (Pramerica Financial) is the latest one to have announced its foray into the mutual fund industry. The company has received the certificate of registration from market watchdog Securities and Exchange Board of India (Sebi). In a press communiqué, the [...]