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Stock Market News & Trends


  1. #1
    insight95in is offline eTI Member

    Stock Market News & Trends


    * RANBAXY : launches the generic version of Glaxo Smithkline's blockbuster drug
    Valtrex (anti-herpes drug) in the US

    * BANKS : Govt will provide Rs 50bn to public sector banks to beef up their
    capital.. this will be in addition to the Rs160bn provided by World Bank

    * TATA POWER : 2Q consolidated PAT Rs 3.68bn v/s 5.28bn, Rev Rs 45.8bn v/s 46.4b

    * SIEMENS : Sep FY09 PAT Rs 7.05bn v/s 6bn, Rev Rs 92.86bn v/s 96.8bn.. board
    meet on 30th Nov to consider merger of Siemens Healthcare

    * VARUN SHIPPING : puts its fleet acquisition plans with capex of Rs 4.6bn in
    FY10 on hold due to credit crisis and economic slowdown

    * PRAKASH INDUSTRIES : plans RS 30bn expansion in power capacity in next 4 yrs

    * IOCL : expected to invest Rs 46.50bn in new petroleum pipeline projects

    * ONGC/OIL INDIA : ONGC Videsh and OINL exploring possibilities of bidding for
    oil and gas fields in Iraq

    * MCLEOD RUSSEL : in battle with Birla grp JayShree Tea for 4 tea gardens in
    Uganda with combined productiojn capacity of 6mn kg a yr

    * DLF : buyers invested in co's commercial office project in S Delhi demanding
    refund alleging project delays & that co doesnt have approval for the same

    * SUN PHARMA : receives tentative US FDA approval for its generic Strattera
    capsules for treatment of attention deficit hyperactivity disorder

    Corporate News – Industry trends

    * MARKETS around the world including India found themselves
    lashed on Thursday by fears of fresh financial trouble, this time with
    its epicentre near home in Dubai, threatening to derail an incipient
    global recovery and holding huge ramifications for India (ET)

    * Bulk drug imports are set to be the next flashpoint between India
    and China. The office of the Drugs Controller General of India has
    roped in, for the first time in its history, the CBI to probe the alleged
    import of “unregistered” bulk drugs from China (BS)

    * Following reports that ITC could make a hostile bid to increase its
    stake in EIH, which runs the Oberoi hotel chain, ITC Chairman Y C
    Deveshwar said his company could even raise its stake to 25% in EIH

    * A move that will help Ranbaxy boost its revenues from the US in the
    next six months, the company has launched the generic version of
    GlaxoSmithKline’s blockbuster medicine Valtrex (valacyclovir
    hydrochloride) in the US (BS)

    * Telstra, the Australian communications major, is planning to re-enter
    India’s telecommunications services space after several years, by
    offering national (NLD) and international long distance (ILD) services.
    It also plans to acquire an internet service provider (ISP) licence in
    India (BS)

    * Indian Oil Corporation, is planning to invest Rs 46.5bn in crude oil
    and petroleum product pipelines over the next three years, Jitin
    Prasada, minister of state for petroleum and natural gas, said in a
    written reply to a question in Parliament (BS)

    * Aiming to expand its portfolio in the executive segment motorcycles,
    Bajaj Auto said it would launch Pulsar in the sub150 cc category early
    next month. The company also said it expected to sell 1 mn units of
    the Pulsar range of bikes in 2010, on the back of the yet-to-be
    launched bike (BS)

    * Tata Steel, for a consecutive quarter, has posted a consolidated net
    loss, of Rs 27.1 bn for the quarter ended September, compared with a
    net profit of Rs 47.0bn in the corresponding quarter last year.
    Consolidated net sales during the period plunged to Rs 252.6bn from
    the previous year’s Rs 440.5bn, down 42.6% (BS)

    * Patni Computer Systems shares continue to be sold by members of
    the promoter family; the family have sold shares accounting for a
    stake of about 0.3% in the open market for a total value of Rs 17.6 bn

    * The state-owned oil exploration major ONGC is eyeing a 20-25% stake
    in a giant Iranian gas field, even as it awaits Tehran’s nod for its plan
    to develop a gas field it had discovered two years ago (BS)

    * Citing steep rise in coal prices, the West Bengal State Electricity
    Distribution Company Ltd, the largest electricity distribution
    company in the state, has decided to hike its power tariff by 22%.
    CESC Ltd, the other power distributor in the state, has also increased
    its tariff by 12%. This is the second time this year that the tariffs have
    been hiked (BS)

    * Port and Dock workers’ unions call for a nationwide strike after
    December 15 to protest at lack of wage revision may be averted, as
    the port authorities have expressed willingness to hold talks before the
    end of this month (BS)

    * Indian corporate raised close to US$2 bn through FCCBs in October
    — the highest since February 2007, riding on the back of an upswing in
    stock prices in the local market (ET)

    * Bharat Sanchar Nigam Ltd has received bids from five companies for
    rolling out WiMax-based broadband services on a franchisee model

    Economic/Regulatory development

    * The YoY inflation in food prices has shot up to 15.58% largely on
    the back of potato prices which have more than doubled in the past
    year. Prices of pulses and onions also rose by over 25% in the
    wholesale market; the annual rate of inflation in the Primary Articles
    group has risen to 11.04% during the week ended November 14,
    higher than the previous week’s annual rise of 9.94% (BL)

    * National Bank for Agriculture and Rural Development has
    sanctioned loans worth Rs 2880 mn under the Rural Infrastructure
    Development Fund (RIDF) (BL)

    International trends

    * China, the world’s biggest polluter, set its first target aimed at slowing
    the growth of carbon dioxide emissions, less than two weeks before
    global leaders meet to negotiate a new climate change treaty (BS)

    Note: More intra-day opportunities will be provided
    live during the market hours

  2. #2
    priya0710 is offline eTI Iron
    Sensex, nifty and bank nifty opened on a positive note today.Trading along the market trend helps to perform well. New traders or less experienced traders should always trade along the market trend until they have a good reason for not doing so.

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