STOCK BUZZ

Unitech 311.05, 314, 317, 320, 326 Sl 307.45 Tata Motors 780.35,799,816 Sl 775.9 Tata Motors can give 20% return if held as a delivery

India has shown a marginal improvement in perceived levels of corruption over 2006, Transparency International’s annual Corruption Perception Index 2007 released today revealed. On a scale of 0 to 10, India has registered an integrity score of 3.5 this year against 3.3 in the previous year and 2.9 in 2005. The country is ranked 72 among 180 countries. Last year, India was ranked at 70 out of 163 countries and in 2005 it was 88 out of 159 countries. “Unlike the developed countries where corruption is restricted to higher levels, in India corruption is rampant at the grassroots level where you have pay a bribe to get a ration card,” R H Tahiliani, chairman, Transparency International India said. On a scale of 0 to 10, Denmark, Finland and New Zealand scored 9.4 and occupied the top slot. Singapore, Sweden and Iceland scored 9.2 and above, indicating very low levels of corruption in developed nations. The scores this year are relatively higher than last year, says the report. While China

In a move that has taken foreign and domestic arms vendors by surprise, the head of the Ministry of Defence’s (MoD’s) high-profile Defence Offsets Facilitation Agency (DOFA), Dr Kiran Chadha, has been prematurely moved out. Exactly a year after DOFA was set up in October 2006, the joint secretary who was promoted to head it and play a pivotal role in the evolution of a new Defence Offsets Policy, has been transferred to the Ministry of Women and Child Development (MoWCD). The transfer order is likely to be served on October 1. This blow to continuity within DOFA seems likely to be followed by more. The incoming head of DOFA, Chaman Kumar, has just one year left in the five-year tenure that civil servants are authorised in Delhi. He is being shifted to DOFA after reportedly having run afoul of his present boss, Minister for Women and Child Development Renuka Chowdhury. According to service rules, Chaman Kumar is due to be posted out of Delhi in mid-2008. The MoD has repeatedly stated th

TCS trying to create Mini India in South America India's largest software company TCS today said it has consolidated its operations in Uruguay and Argentina into a single unit and plans to double its workforce to 2,400 in the next 2-3 years. This unit would focus on providing nearshore services to other Latin America countries as well as to the US and Europe, a company statement said. TCS Vice-President (Business Development) Mario Tucci has been appointed as the country manager of the new unit which comprises a global delivery centre and regional training centre in Montevideo (Uruguay) as well as an extension centre in Buenos Aires (Argentina). The company has plans for a major expansion of this unit in the future. “This region has very highly-trained human resources, English language skills and an attractive cost structure, which makes it a natural base for exporting services to other countries,” Tucci said. “Leveraging these conditions, we intend to grow to 1,200 employees this

There is a lot of shortterm volatility in the global and domestic markets, based on the events and developments in the US market. For example, the news related to the crisis in the sub-prime lending market in the US, interest rates cut by FED, rise/fall in NASDAQ and NYSE etc. These are some fundamental reasons why global markets turn volatile because of developments in the US markets . The US economy is the largest economy in the world. Many small and large countries mainly depend on exports to American markets . As a result, whenever there is any negative news in the American markets, it triggers negative sentiments among the global investors and as a result we see a lot of volatility in global/domestic markets (especially in the short term). The Indian economy is mainly driven by domestic consumption, but US accounts for a large portion of exports. A large number of Indian companies are involved in exporting their products to American markets , and raising funds by listing on the Ne

Buy on Stovec Industries & Target for Rs 370 The stock of the company is trading 15.67 times to its earnings and 2.11 times to its book value. The company is having three main divisions: screen, industrial ma-chinery and graphics. Screen division manufactures and market per-forated rotary and engraved cylindrical screens; industrial machinery division manufactures screen printing machines, plate processor ma-chines, sizing machines, splicer machines and other. Stovec Industries is promoted by Stovec Industries group. The company is engaged in pre-sensitized off-set plates and perforated rotary screens used in the textile printing segment. It manufactures and markets pre-sensitized off-set plates, screens, electronics and other machinery related products. The company, significantly altered it product portfolio of graphic and chemical business and is now focusing on profitable product segments in these categories. This would substantially help the company in strengthening its bottoml

Buy Bharathi Shipyard : target for Rs 795 Research Report on Bharathi Shipyard by Anand Rathi Swan Hunter acquisition to add new dimension The company recently acquired Swan Hunter Shipyard (U.K). The machinery as well as the dry dock would be dismantled and shipped to Mangalore. The acquisition, dismantling, transport and re-installing cost would be around Rs 2,500 million. The acquisition would enable Bharati to build vessels up to 100,000 DWT. Robust order book to fuel growth BSL’s order book is Rs 40,000m; the unexecuted portion is Rs 33,000 million (details in annexure). About 50% of the order book will be executed at Mangalore, the rest at other yards. The Mangalore yard would execute the Rs 7,500 million orders for rig. The delivery of rigs is expected by December 2008. The normal revenue recognition formula is 15 x 6 (15% of revenue booked every quarter for six quarters). In FY08, the company posted a turnover of Rs 4,210 million. Of this, Rs 3,540 million arose from its core s

Indian Retail Industry is standing at its point of inflexion, waiting for the boom to take place. The inception of the retail industry dates back to times where retail stores were found in the village fairs , Melas or in the weekly markets. These stores were highly unorganized. The maturity of the retail sector took place with the establishment of retail stores in the locality for convenience. With the government intervention the retail industry in India took a new shape. Outlets for Public Distribution System, Cooperative stores and Khadi stores were set up. These retail Stores demanded low investments for its establishment. The retail industry in India gathered a new dimension with the setting up of the different International Brand Outlets, Hyper or Super markets, shopping malls and departmental stores. Key Players in the Indian Retail Sector: The untapped scope of retailing has attracted superstores like Wal-Mart into India, leaving behind the kiranas that served us for years. Such

The Sensex has scaled 17k today and attained a peak of 17073.87, before cooling off. Reliance Industries contributed 256 points, Bharti 99 points, L&T 79 points and ICICI 67 points to the recent rally. The Sensex has achieved two major milestones of 15k and 16k this year. 15k mark was achieved on July 6, while 16k on Sep 19. While the 14k-15k mark was achieved in 144 days, the 15k-16k took just 53 days. But the last lap of 1,000 points to 17k was truly breath-taking and 16k-17k was achieved in just 6 days. At the start of this year, the Sensex was at 13800 levels and it has gained almost 23% since the starting of the calendar year. Among the major indices, Capital Goods index has risen the most-by 61.21%. The Oil & Gas and Metal indices were also star performers rising 56% and 45% respectively. Amongst the underperformers, the IT index is down 14.62% since the start of the year. An appreciating rupee has taken a toll on the IT stocks. The Auto and Healthcare indices are also l

Market has gone up by around 1200+ points in span of 5 days. This effect is due to US Fed Rate cut which made additional Liquidity available for developing markets. Market is on Bull run from long time. Please book your profit and exit all High risk scripts. It seems federal reserve Governor ( Mr Ben Bernanke ) of US is controlling markets of developing countries .

Today's Buy Buy M&M>778.05,799 SL 769 Buy PFC>206.05,209.9 SL 204 Buy GMR Infra>874.05,880 SL 865. This stock has a potential to touch 1000+ as a delivery but should be purchased by those with higher risk appetite Buy Bajaj Hindustan>190.05,194,199 SL 187.9 Note: Day Trade with caution as market may reverse direction any time as except for liquidity no other fundamental has changed which should lead to such mind boggling rally.

Source : India Economy The bid for procurement of 126 Medium Multi-Role Combat Aircraft at an estimated cost of Rs. 42,000 crores ($10.2 billion) for the Indian Air Force this week has generated a lot of buzz in the international defence market. The NYT reports that- Determined to build a domestic arms industry, India is requiring foreign suppliers to make a sizable portion of any military goods in this country. In the case of the jet fighter contract, the successful bidder must produce goods worth half the contract’s value in India. The NYT report surmises that India will be the world’s largest defence market in another five years- Over the next five years, military analysts expect the country to spend as much as $40 billion on weapons procurement alone, more than its entire annual armaments budget today — upgrading systems as diverse as jet fighters, artillery, submarines and tanks in its largely Soviet-era arsenal. The NYT guesstimate is only 40% of the figure provided by Dr Kiran C

Book Profit on Indowind and Buy NTPC As it was the case with any IPOs, which came at higher valuations, it is the same as Indowind Energy also and the stock also has substantially moved up. The investor having got the stock at Rs 65 should look for profit booking at these levels. If one is looking for any kind of alternative investment from long-term perspective, may be one can look at NTPC which I feel is going to be a multi-bagger from a long-term perspective.

Buy Rolta for 4 to 6 months investment As per Sastry Rolta is concentrating on the volumes growth. Infact recently they have acquired a company in Canada which is into the systems integration and due to this acquisition the company is going to make atleast on an average basis USD 33 million for the next 3 years. Over and above they are also setting up an IT park near Calcutta. They are also cash surplus and they are sitting on huge funds now to the extent of around USD 150 million which they have raised in the form of GDR/FCCBs. So on and all put together the company is also showing a kind of constant growth trend that is also quite impressive. And keeping all this things in mind I definitely put my bet on this stock and in terms of purchase definitely on correction one can look at acquiring this stock from medium-term to long-term perspective and it can give good returns

Following stocks are for that day ( Quick Buy & Sale ) 1. Central Bank : ( Buy in Bulk ) Buy 148.3 to 149 Stop Loss : 148 Sell : 151 2. SAIL : ( Buy in Bulk ) Buy 198.5 to 200 Stop Loss : 198 Sell : 203 to 205 3. Reliance Infra structure : Buy 1150 to 1152 Sell : 1165 to 1170

Trading Strategies Dow Theory Three Movements Markets fluctuate in more than one time frame at the same time: Nothing is more certain than that the market has three well defined movements which fit into each other. The first is the daily variation due to local causes and the balance of buying and selling at that particular time (Ripple). The secondary movement covers a period ranging from days to weeks, averaging probably between six to eight weeks (Wave). The third move is the great swing covering anything from months to years, averaging between 6 to 48 months. (Tide). 1. Bull markets are broad upward movements of the market that may last several years, interrupted by secondary reactions. Bear markets are long declines interrupted by secondary rallies. These movements are referred to as the primary trend. 2. Secondary movements normally retrace from one third to two thirds of the primary trend since the previous secondary movement. 3. Daily fluctuations are important for short-term tr

Phillips Carbon CMP: Rs 175 Target Price: Rs 213 Angel Broking has initiated coverage on Phillips Carbon Black with a buy recommendation and 12-month price target of Rs 213. “We expect PCBL to grow at a CAGR of 9.8% in topline (net sales) and 78.8% in bottomline (net profit) over FY2007-09E. Growth in bottomline will primarily be aided by contribution from the power division as it will reduce costs as well as provide additional source of revenue with 85-90% EBITDA margin (operating margins),” the broking house said in a note to clients. Angel estimates Phillips’ EPS in 2007-08 at Rs 21.7, as against Rs 9.4 in 2006-07. In 2008-09, the company’s EPS is expected to be Rs 26.6. Transport Corp CMP: Rs 128 Target Price: Rs 140 SSKI Securities has initiated coverage on Transport Corporation of India (TCI) with a buy rating and price target of Rs 140. “TCI is currently trading at 12.8 times FY09 earnings and 7.4 times FY09 EV/EBITDA (enterprise value/earnings before interest, taxation, depre

Buy >> Larsen & Toubro Ltd Expected Growth : 25% to 30% growth by end of year. Reason : Invested 1 Billion for a stake in Mysore based Rangsons Electronics, an electronic manufacturing services (EMS) provider. Rangsons Electronics, part of NR Group, is one of the fasted growing EMS companies in India. Financials : Larsen & Toubro registered a 139.83% growth in net profit to Rs 3,768.5 million for the quarter ended June 2007 from a profit of Rs 1,571.3 million for the quarter ended June 2006. Net sales rose 29.58% to Rs 45,052.1 million for the quarter ended June 2007 from Rs 34,769 million for the quarter ended June 2006. Total income rose 33.83% to Rs 47,166.8 million for the quarter ended June 2007 from Rs 35,243.3 million for the quarter ended June 2006. The earnings per share ( EPS ) of the company stood at Rs 13.3 for the quarter ended June 2007. *******************************************

Rupee driven stocks, IT stocks, in particular, have started getting impacted. They are trading way below their 52-week highs and just hovering near to their 52-week lows. Indian rupee surged nearly 9.6% against the dollar since early - 2007, on the back of strong foreign inflows of nearly USD 10.4 billion.

India presents a vast potential for overseas investment and is actively encouraging the entrance of foreign players into the market. India is also one of the few markets in the world which offers high prospects for growth and earning potential in practically all areas of business Huge investment potential exists in the Media and Entertainment industry, which is all set to more than double its revenues and touch US$ 23.34 billion (Rs. 100,000 crore) by 2011 at the CAGR of 18 per cent. The Indian pharmaceutical industry is another promising sector of the Indian economy. India holds fourth position in terms of volume and thirteenth position in terms of value of production in pharmaceuticals. It is estimated that by the year 2010, the Indian pharmaceutical industry has the potential to achieve over Rs. 1,00,000 crore in formulations and bulk drug production. Steel sector also holds huge investment potential as the government aims to achieve production level of 110 million tonnes by 2019-20

Is Government trying to regulate the cost of Cement to lower the infrastructure cost Government is in dual mode of increasing excise duty and making sure cement cost is locked for year time. Raising the excise duty and expecting the cement industry to not raise prices will give governement additional money. The rise in cement prices is transferred to higher real estate costs, which are already sky high in India. This way, the FM is trying to make money from a flourishing industry without giving them the incentive to raise money and indirectly curbing inflation. This dual Excise structure is absurd and impractical. In fact I firmly believe that the FM was merely trying to increase excise duty rates on Cement. He has managed to paint it as an exercise in price control. A shrewd way of raising the excise and not being blamed for the price rise. Prices of all commodities have sky rocketed but cement seems to be drawing most of the flak. It is probably true that the cement companies are min

Rupee will touch 41.80 By year end . IT stock will under perform due to Rupee appreciation.

S ource : Myiris B ulls eye`, Sensex will touch 15,850 and the next target is 16,150, said Vishwas Agarwal, Technical Analyst, yesterday, just before the US Fed meeting and we have seen what has happened today (a day to remember). Heavy buying interest in heavyweights, strong global cues and cut in Fed rates led the Sensex touch a new high of 16,335.30. India`s benchmark index, Sensex, breached the magical figure of 16,000 mark in the morning trades. The Sensex marched ahead like an unbridled horse in the intraday trades and scaled new highs during the day. Finally, the index ended the day on a sunny note. The journey from 15,000 to the 16,000 mark was completed in 53 days. Commenting on today`s movement Vishwas said, ``I am bullish on Indian market up to September 30, with small possible correction,`` adding ``If the market trades above 16,350 level then the next ending point will be 16,666.`` Clearly on the day for which whole world was waiting, European markets opened with a ba

India is the second largest producer of cement in the world after China, accounting for about 6-7 per cent of the world capacity. The production grew by a record 15% to 94.21 mn tonnes in 1999-2000. A As on March 31, 2000 there were 113 large plants, accounting for 92% of the total capacity and 300 white and mini plants in India. There is a high degree of fragmentation in the industry with over 60 players, but the top 5 players account for over 50% of the capacity. Within the next 3-5 years the industry is expected to be dominated by five to six big players and less than ten companies in all, both Indian and foreign. There has been an increased level of MNC activity in the domestic market, with strategic tie-ups, mergers and acquisitions. Summary : Invest in Cement Sector and expect good returns by year End Based on Sales Sales ( Rs Mn ) % Change Ambuja Cement 62075.70 139.33 ACC Ltd 57169.80 80.91 Ultratech Cement 49090.50 48.63 India Cement 22552.06 47.30 Shree Cement 14030.47 101.93

The just released industrial growth numbers point to a slowdown in the economy. The Central Statistical Organization`s quick estimates of Index of Industrial Production (IIP) for the month of July 2007 fell far below the expectations. The general index stands at 252.2, which was 7.1% in July 2007 compared with 13.2%, a year ago. The cumulative growth for the period April-July 2007-08 witnessed a decline at 9.6% as against 11.1% over the corresponding period of the pervious year. The industrial production for the mining, manufacturing and electricity sectors grew 4.9%, 7.2% and 7.5% respectively in July`07. During the same period in 2006, these sectors posted growth of 5.1%, 14.3% and 8.9% respectively. The cumulative growth during April-July 2007-08 over the corresponding period of 2006-07 in the three sectors has been 3.1%, 10.3% and 8.1% respectively compared with 4%,12.3% and 6.1%, a year ago, which moved the overall growth in the general index to 9.6%. Higher interest rates adverse

Supreme Infrastructure IPO opens on Sep. 21 Supreme Infrastructure India (SIIL) announced its intent to enter capital market by floating initial public offering (IPO), reports Economic Times. This construction firm would issue 3,475,000 equity shares in a price band of Rs 95 and Rs 108 and plans to raise Rs 320 million to Rs 370 million through the IPO. The IPO opens on September 21 for subscription and will close on September 26. The issue constitutes 25.05% of the post issue paid-up capital of the company and the proceeds of the issue will be utilized to finance its expansion plans and meet its long-term financial needs. SIIL is into infrastructure development, engaged in construction of roads, highways, widening of highways and execution of contracts under National Highway Authority of India (NHAI), Mumbai Metropolitan Region Development Authority (MMRDA) and others.

Source : MoneyControl The IPO investors in the Indowind Energy Limited, a wind power project and green power company, have gained 80.76% on the very first day of listing on stock exchanges here today. The equity opened on BSE at Rs 80.25 against the issue price of Rs 65 and it shot up to Rs 124.50 intraday before closing for the day at Rs 114.05 with a trading volume of 40.39 million equity shares. On NSE it opened at Rs 75 and moved up to Rs 124 before closing for the day at Rs 117.50 with a trading volume of 48.41 million equity shares. UTI Securities Limited was the BRLM, Canara Bank was the Co-BRLM and Keynote Corporate Services Ltd was the Advisor to the Issue. Indowind Energy Limited, a producer of wind power (`Green Power') and suppliers to its customers including State Electricity Boards and Corporates, is currently in the process of implementing additional capacity of 9 MW Wind Farm Project at Chitradurga in Karnataka. It also proposes to purchase Hydraulic cranes and ac

Invest in Power sector as it has good growth rate 2008 Quarterly Aggregates Latest Quarter Sales (Rs Mn) >>> 163633.40 PAT (Rs Mn) >>> 25729.27 Operating Margin (%) >>> 9.29 Net Margin (%) >>> 15.72 Sector Report Per capita consumption of electrical power in India is still far behind that of developed countries, India’s per capita is at 347 kWh, while that of developed countries is in the region of more than 10,000 kWh. Un-viable tariff structure has lead to precarious balance sheets of SEBs, leading to huge losses in the revenues and reduction in the future expansion of capacity by SEBs. SEBs have become structural impediments, adversely affecting the very flow of private capital that the power sector requires to meet the needs of the country. Total installed capacity of power generation stations under different ut

Godawari Power and Ispat Limited NSE : 211.05 , BSE : 210.20 ********************************* Bank of India Bank of India signed the acquisition deed for acquiring 76% stake in PT Bank Swadesi, Indonesia. Bank Swadesi is a well run mid sized bank, operating in Indonesia for the last 38 years,having 16 outlets. Bank Swadesi holds the licence for forex business and is listed on the Jakarta Stock Exchange. ***************************************************** Future Plans The Mumbai based Rs 4.6 billion plus pharma company; Elder Pharmaceutical is expanding its research and development facility at Navi Mumbai, with the investment of around Rs 100 million. The new expansion will be complete within six months. The company is targeting a turnover of Rs 10 billion by 2010

Adlabs Films Limited has informed the Exchange regarding a press release dated September 13, 2007, titled "Adlabs records 166% growth in FY07".

Dhanus Technologies knocked the doors of the capital market via IPO to raise fund up to Rs 1,131.32 million. It plans to float 3,835,000 shares of face value of 10 each at price band of Rs 280 to Rs 295 a share. Incorporated in 1993, DTL commenced telecom based services and software businesses in 1996. In June, 2004, it launched its world`s prepaid calling cards product. Thereafter, DTL build-up an extensive network of dealers, agencies and direct marketing associates in India , South East Asia and West Asia . DTL has wireless license for launching FleeTrac services, which aims at the Indian logistics segment.

Power Grid Corporation of India (Power Grid) Based in New Delhi received 9.24 times over subscription for its initial public offer (IPO) till 4 p.m., on the third day, Sep. 12, 2007. The IPO received 5,303,495,250 bids as against the issue size of 573,932,895 shares. A total of 178,369,375 bids were received at cut off price.

Source : Moneycontrol.com Centurion Bank of Punjab is quoting at Rs 41.25, up Rs 1.65, or 4.17%. It has touched an intraday high of Rs 42.40 and an intraday low of Rs 39.70. It is trading with volumes of 829,538 shares

Source Myiris Chennai-based Dhanus Technologies (DTL), a telecom and IT enable services provider, received 2.65 times oversubscription for its initial public offer (IPO) on the second day. The IPO received 10,150,740 bids, as against issue size of 3,835,000 shares. A total of 715,120 bids were received at cut off price. Dhanus Technologies knock the doors of capital market via IPO route to raise fund up to Rs 1,131.32 million. It plans to float 3,835,000 shares of face value 10 each, at price band of Rs 280 to Rs 295 a share. It invited investors to subscribe to the issue up to September 12. Incorporated in 1993, DTL commenced telecom-based services and software business in 1996. In June, 2004, it launched world prepaid calling cards product. Thereafter, DTL has build up an extensive network of dealers, agencies and direct marketing associates in India, South East Asia and West Asia. DTL has wireless license for launching FleeTrac services, aimed at the Indian logistics segment.

Kaveri Seed is one of the few recognised Agri input company of India. Please invest and expect gain upto 30% in next 1 to 2 month

PGCIL reported a CAGR revenue growth of 19.52% over FY05- 07. During FY07, PGCIL reported a EBITDA and PAT margin of 82.13% and 30.30% respectively. At the price band of Rs 44-Rs 52, the issue is priced at 15.17x and 17.93 x its FY 2007 earnings per share (EPS) of Rs 2.9. Taking post issue diluted EPS of Rs 2.58, P/E will be 17.05 x and 20.15 x respectively, the broker said.

Archisa Investments bought 1,585,978 shares at Rs 34.45 a share and LIC sold 1,585,978 shares at Rs 34.45 a share of Uttam Galva Steels at the BSE

Reilance Petroleum will cross Rs 130 and will go up to range of Rs135 - Rs 138

Satyam planning to make Malaysia its largest software hub .....

Source Moneycontrol Applying thought to applied innovation - Wipro is taking its new brand identity global now. A recent survey it did, showed Wipro's brand recognition was only 50 percent among its target audience in the US. So, it's working on its image. Jesse Paul, Chief Marketing Officer, Wipro, says, “In the next 5 years, we expect to see top 5 brands emerge globally and that is likely to have 3 international and 2 Indian players….and we would really like for Wipro to be in that top 5." New initiatives are on the cards. Wipro has identified key sectors that business travelers frequent and these visuals will greet them at airports all over the world. The Wipro logo will scream out at business class travelers from magazines and billboards. In India, company buses and buildings will be wrapped in the new banners. A similar initiative is planned in New York. Although officials won't comment on the ad-spend, Wipro has increased marketing budgets 70 percent. And it hope

Buy Grasim Cement and target Rs 3558 Grasim’s core businesses – cement and VSF – are witnessing strong business upcycle. The performance of its sponge iron and chemicals businesses is also set to improve. We estimate EPS at Rs281.7 for FY08 and Rs274.7 for FY09. Our SOTP-based valuation of Rs3,558 indicates an upside of 21%. We reiterate Buy. Cement – timely capacity addition to drive growth: With inflation waning, we see signs of attenuation of state intervention in cement pricing. Demand-supply remains in the industry’s favor, and given the strong demand drivers and possible delays in new capacity additions, the upturn in the cement cycle could be prolonged. Grasim's timely capacity addition would help drive volume growth, and cost cutting would enhance competitiveness.

Source : Moneycontrol Edelweiss Research has recommended buy rating on Satyam Computers. Satyam currently trades at 18.6x FY08E and 14.4x FY09E. Edelweiss report on Satyam Computers: Since declaring Q1FY08 results on July 20, 2007 Satyam Computer Services has returned -7.8% (negative 7.8%), underperforming the BSE-IT index slightly (-6%), the Sensex (flat) and Infosys (-4.8%). We felt that some amount of correction was due given the run-up prior to the results which we believe has happened. Satyam derives a relatively smaller proportion of its revenues from the BFSI segment relative to its peers such as Infosys and TCS, which is about 24% of overall revenues. Thus, should it not be better placed relative to peers in the current environment? We spoke to Mr. V Srinivas, CFO to understand if Satyam senses any incipient impact of the ongoing weakness in the sub-prime mortgage segment in the US . We also wanted to understand whether the company is doing anything differently to deal wit

By Economictimes Reliance Industries said on Tuesday it had bought a majority stake and management control of east African oil retailer Gulf Africa Petroleum Corp (GAPCO) for an undisclosed sum. The company said in a statement that GAPCO was a strategic acquisition which would give it access to the rapidly growing economies of east Africa , where demand for petroleum products is rising. "These markets are easily accessible from India and in that sense provide a strategic fit for exports from India ," it said. GAPCO owned and operated large storage terminalling facilities and a retail distribution network in countries including Tanzania , Uganda and Kenya , Reliance said. It said GAPCO had more than 250 outlets catering to retail and industrial segments.

TCS bags deal from Roche, to help in global capacity building. The company will provide clinical programming, data management to Roche

Jyoti Structures : A weekly close of Rs 211 well above the 20-day moving average appears to be crucial, which may propel the stock above Rs 225. Stop loss at Rs 190-195 India Cements : The scrip has formed a deep rounding bottom on the daily chart, indicating an upmove after crossing important resistance levels (Rs253-259). Near-term support is at Rs 228 GE Shipping : The stock has been on a strong uptrend. A move above the resistance level of Rs 322 could take the stock to 360-365 levels. Stop loss of Rs 296 Tata Tea : The stock appears set for a pullback rally. Trading long in the scrip is recommended with support of Rs 730 and Rs 710 and an initial target of Rs 810 and then Rs 840 KLG Systel : We recommend a buy taking into consideration the company’s immense growth potential. At the current market price of Rs 445, the stock is trading at 11 times estimated FY08 earnings

NTPC has touched a 52week high of Rs 180.20. At 1 pm, the share is quoting at Rs 178.85, up Rs 5.55, or 3.20%. It will cross Rs 200 ( Stay Invested )

The bank, formerly known as The United Commercial Bank, Ltd., was founded in 1943 and is headquartered in Kolkata, India. The bank provides its banking services for customers, including corporate, NRIs, overseas corporate bodies, foreign companies/individuals, and foreign banks. It has approximately 34 regional offices in India, 1700 odd branches, and international financial centers in Hong Kong and Singapore UCO Bank provides commercial banking services in India. It offers various deposit products, including current deposits, savings bank accounts, money back recurring deposits, two-way deposit scheme, special deposit scheme for senior citizens, fixed deposits in foreign currency, and flexible fixed deposit scheme. Expectation UCO bank the next significant resistance is around Rs 34-35, if those levels can be crossed probably levels Rs 42 are possible. But right now, its in that range of about Rs 25-35 its been doing one year on so that would take some time crossing.

Gitanjali Gems Limited has informed the Exchange that: "The Company has received in-principle approval from Ministry of Commerce, Board of Approvals for establishing 1000 hectors SEZ at Nagpur for Multi Products and 50 hectors SEZ at Aurangabad for Gems & Jewellery.

Bajaj Auto second largest bike manufacturer, has announced August sales numbers. It has sold 1.95 lakh units in August 2007 compared to 2.08 lakh units in same month of previous year. In the overseas market, it has sold 56,452 units versus 32,283 units YoY. Bajaj Auto has targetted sales of 20,000 units of new 125 cc DTS-Si bikes. Particulars Aug, 07 Aug, 07 % Change MOTORCYCLES 167,483 180,570 -7 TOTAL 2 WHEELERS 170,203 182,013 -6 3 WHEELERS 25,504 26,150 -2 TOTAL 2&3 WHEELERS 195,707 208,163 -6 Exports out of the above 56,452 32,283 75