3:15 pm: Sonata Software Ltd has announced the opening of a second offsite facility for Microsoft at its new Global Village in Bangalore. The first offsite facility in Sonata's Hyderabad office has been operational since 2006. The new development centre has been designed keeping in mind flexible, scalable and independent operations. The facility will provide design, development, testing, production and maintenance of Microsoft's products.
Sonata Soft shares were down 2.20% at Rs 35.60 on NSE, after rising to Rs 37.40 earlier in the day.
2:35 pm: Hindustan Dorr Oliver Ltd has bagged an order from BALCO (a Vedanta Group company) worth Rs. 130 crores for design, engineering, procurement, manufacturing, supply, civil works, erection/ construction, testing & commissioning of fume treatment plant for their Smelter Expansion Project at Korba. Fives Solios, France a world class expert in this field, is the technology partner for this project. The total order value along with Fives Solios, France is worth Rs. 276 crores. Execution of the project shall be completed within a period of 20 months. The company has already successfully completed similar project with Vedanta group for its existing smelter project at Jharsuguda, Orissa.
Hindustan Dorr Oliver shares were higher by 4.85% at Rs 137.40 on BSE.
2:15 pm: Tata Consultancy Services Ltd has informed that N. Chandrasekaran has taken charge as Chief Executive Officer, taking over from S Ramadorai and who will now take the position of non-executive vice chairman. Shares of the IT major were up 0.67% at Rs 619.45 on NSE.
1:42 pm: Pyramid Saimira Group has announced its strategic partnership with RDB Group for the group’s production company venture PSPIL. With this strategic alliance and with combined expertise, PSPIL plans 1,785 hours of TV content for the fiscal year 2010-2011.
Pyramid Saimira shares were higher by 5.16% at Rs 26.50 on NSE, on the back of this announcement.
1:25 pm: Mphasis Ltd has informed that the legal and statutory requirements for the purchase of 100% shares of AIG Systems Solutions Pvt. Ltd. have been completed on September 30, 2009. The company's share was down 2.01% at Rs 664 on NSE.
1:22 pm: Four Soft Netherlands BV, a subsidiary of Four Soft Ltd, India, has signed a new contract with Smart Logistics to automate its freight forwarding operations by implementing 4S eTrans SME at its multiple locations. Smart Logistics is a Netherlands based freight forwarding company which provides full integrated freight forwarding services and total logistics solutions to its customers. 4S eTrans SME Is a complete, freight forwarding system, designed to automate, streamline and support the multi-modal International freight forwarding operations. It provides the logistics industry with a flexible and complete software solution to manage business efficiently, increase productivity and improve the overall service to their customers.
Four Soft shares were up 1.32% at Rs 23.10 on NSE, on the back of this announcement.
1:11 pm: Suzlon Energy Ltd has signed a repeat order for 57 MW with Ayen Enerji of Turkey. The order will be supplied with 27 units of Suzlon S88-2.1 MW turbine, to be installed at the Seferihisar and Mordogan projects in east Turkey.
However, the company's share was down 2.41% at Rs 85 on NSE.
12:45 pm: Kushagra Software Ltd has procured $3.5 million order for power project works. The company has to implement these works over a period of next 12 months. Shares of the company were trading flat at Rs 8.34 on BSE.
12:38 pm: Larsen & Toubro Ltd's Construction Division has bagged new orders aggregating Rs 1,513 crore during the second quarter of the year 2009-10 for the construction of high rise tower, luxury hotel, hospital and factory building projects. The company has secured a Rs 621 crore contract from DB Hospitality for the construction of India Tower in Mumbai. It has further secured an order from ITC Group for construction of ITC Sonar Hotel at Kolkata amounting Rs 238 crore and secured orders worth Rs 367 crore from NBCC for construction of hospital building at Coimbatore and for upgradation of six hospitals at Haryana.
Shares of the company were down 1.22% at Rs 1634.25 on NSE, despite this news.
12:20 pm: Prism Cement Ltd has posted standalone net profit of Rs. 34.97 crore for the quarter ended September 30, 2009 against Rs. 74.25 crore for the quarter ended June 30, 2009. Net sales for the September quarter was Rs. 228.40 crore against Rs. 271.31 crore in June.
Shares of the company were down 9.81% at Rs 49.20 on NSE.
11:45 am: Nirmal Bang has advised traders to buy Reliance Industries on dips with strict stoploss of Rs 2110. “Buy Reliance Industries on dips with strict stoploss of Rs 2110. If this level breaks then the next level could be Rs 2080‐2040. But if the stock holds firmly above Rs 2150‐2160 then see a target of Rs 2190‐2215,” said the technical report.
11:38 am: Gammon Infrastructure Projects Ltd has concluded the purchase of 2,28,77,500 equity shares of Rs.10 each of Vizag Seaport Pvt. Ltd. from International Port Services Pvt Ltd, the investment arm of Portia Management Services Services of UK. The shareholding of Gammon Infra in VSPL stand increased to 73.76%, making VSPL a subsidiary of the company with effect from October 1, 2009. VSPL owns two berths handling bulk cargo at the Visakhapatnam Port and presently handles more than 5 million tonnes of cargo on annualized basis. The concession of the project is for a period of thirty years till end November 2031 Gammon Infra has two other port assets viz. (i) the Indira Container Terminal Private Limited, where the company has 50% equity stake, which is setting up two offshore container berths at the Mumbai Port besides managing the existing Ballard Pier Station Container Terminal: and (ii) the Blue Water Iron Ore Terminal Pvt Ltd, where the company has 31% equity stake, which is setting up a dedicated iron ore berth at the Paradip Port in Orissa.
Despite this news, Gammon Infra shares were down 2.09% at Rs 95.85 on NSE in line with the weak market.
11:20 am: Nirmal Bang has advised traders to buy and hold shares of Adhunik Metaliks. The stock has the potential of hitting Rs 135 in the short term, it says.
“Buy and hold Adhunik Metals as huge delivery based action is being seen. The stock has support at Rs 95-92. If the stock maintains above Rs 110 in the near term then expect a short-term target of Rs 135,” the brokerage said.
11:00 am: Emkay Global Financial Services is of the view that though the daily charts have given a sell signal, short term upside target on Nifty is seen at 5160 and then 5298. “On the daily chart Stochastic oscillator had given sell signal and Nifty had already retraced 50% of the recent rally from 4904 to 5110, thus now Nifty has support at 4982 which is 61.80% of the above mentioned rally. However as mentioned earlier that Nifty is continuously forming Higher tops and Higher bottom and still trading above the short term averages, thus we maintain our short term upside targets 5160 and above that 5298, and we believe that any downside correction will be good buying opportunity. Downside in short term level of 4900 will play as an important support,” the report said.
10:50 am: JIK Industries Ltd informs that the company has paid off its last secured creditor and is totally debt free with respect to secured creditors. The company embarked on a restructuring process after facing difficulty in the year 2004. The company’s total secured debt was to the tune of around Rs. 73 crore in 2005 and in just within 4 years has managed to settle all its secured debts. The company had arrived at settlement of dues with banks and Financial Institutions like Stressed Asset Stabilization Fund, Bank of India, Canara Bank, Life Insurance Corporation of India, Arcil . The company implemented Scheme of Arrangement sanctioned by the Bombay High Court for the value Rs.29.68 crores. The company is now looking to focus on its product line of Crystal Glassware and allied products which fall within the luxury goods industry, where it sees maximum product potential.
However in line with the market weakness, JIK Industries shares were down 0.41% at Rs 24.15 on NSE.
10:40 am: Lupin Ltd has granted Salix Pharmaceuticals Ltd the exclusive rights for the US to its bioadhesive drug delivery technology for us with Rifaximin. Lupin and Salix have entered into an agreement under which the two companies will collaborate in the development and commercialisation of an extended release product incorporating Refaximin and utilising Lupin's proprietary bioadhesive technology. Salix has made a $5 million up-front payment and will make additional regulatory milestone payments to Lupin. In addition, Salix will pay royalties on net sales of the bioadhesive Rifaximin product to Lupin.
This news saw Lupin shares rise by 3.81% at Rs 1,218.05 on NSE. The stock touched a high of Rs 1,232 in trade so far.
10:20 am: Indiabulls Real Estate Ltd's subsidiary, Indiabulls Power Ltd filed a Red Herring Prospectus with the office of the Registrar of Companies, Delhi & Haryana, on October 1 for an Initial Public Offering of equity shares.
This announcement, however, did not move the Indiabulls Real Estate stock much, which was up 0.23% at Rs 264.60 on NSE.
10:05 am: The biggest losers were from the telecom sector following TRAI's ruling that service providers charge users per second instead of the per minute billing system followed now. These included Reliance Communications (-9.07%), Bharti Airtel (-7.91%), Idea Cellular (-7.24%), Tata Communications (-0.64%). The other big losers were BPCL, HDFC Bank, Ambuja Cements, Tata Motors.
10:04 am: Top gainers among the Nifty constituents were Hindalco Industries (3.39%), ITC (2.64%), Sterlite Industries (2.15%), Ranbaxy Laboratories, SAIL, Tata Consultancy Services, Mahindra & Mahindra, ICICI Bank, Hindustan Unilever, Wipro.
9:58 am: The Sensex was trading at 16,956.72, up 90.31 points or 0.54% from Monday. The BSE sensitive index had opened for trade at 16,879.38 versus the previous close of 16,866.41. The 30-share index saw a high of 16,965.53 and low of 16,879.38 in the early minutes.
9:58 am: Indian stock market bounced back on Tuesday, tracking gains on Wall Street and its positive effect on other Asian markets. The Nifty opened flattish at 5003.65 against the previous close of 5003.20 and moved up to 5033.90. The NSE benchmark index traded at 5028.65, up 25.45 points or 0.51%.
No comments:
Post a Comment