Wednesday, February 27, 2008

Stock Market Reports Market off the day’s high.

The market has slipped from the day''s high but is till trading in green. The capital Goods, Oil & Gas, and Bank stocks are in heavy demand from the opening trade. However, the IT stocks are out of favor today.The overall market breadth is positive, as 1664 stocks are advancing whereas 1020 stocks that are declining.

Mahindra & Mahindra reported the top gainer from the BSE Sensex pack. It is trading higher by (4.90%) at Rs.661 while Grasim Industries the top loser trading down by (2.81%) at Rs.2,957.05.

At 2.31PM BSE Sensex is at 17,951.43 up by 145.24 points and Nifty is at 5,302.25 up by 32.20 points. The BSE Mid Cap is higher by 60.01 points to 7,750.87 and the Small Cap advanced by 77.64 points to 9,726.13.

The BSE Capital Goods index is the top performer today. It is trading with a gain of 447.52 points at 16,571.88. The main gainers are Siemens up by (5.09%) at Rs.1,694, L&T increased by (3.72%) at Rs.3,657 followed by BHEL and ABB advanced by (3.30%) and (2%) to Rs.2,254 and Rs.1,223.

The most active shares on NSE are Reliance trading at Rs.2599.10 with a total traded quantity of 1810766 shares followed by Reliance Capital trading at Rs.1993.90 with a total traded quantity of 1771954 shares.

Cairn India is trading higher by (1.33%) to Rs.228. The company has entered into the race for acquiring two oil exploration blocks in Sri Lanka.

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Stock Market Commentary : Post Session Stock

Heavy selling pressures towards the end of the session led the Indian market to pare most of its initial gains. The domestic market opened with a bang tracking the favoring cues from the global markets and kept on marching forward at the initial stage. But the market was unable to sustain at the higher level and fell on the back of weak cues European markets that led to the profit booking across the sectoral indices. Also, the Union budget 2008-09, two days down the line led the investors to take calculated steps to book their positions. The Mid Cap and Small Cap also followed the benchmark indices to close with marginal gains. From the sectoral front, the capital goods scrips remained the centre of attraction as most buying was seen from these baskets. The BSE Sensex closed with marginal gains of 19.80 points at 17,825.99 while NSE Nifty closed lower by 1.65 points at 5,268.40. The BSE Mid Cap and Small Cap closed higher by 32.70 points and 25.37 points at 7,723.56 and 9,673.86 respectively.

BSE Capital Goods index closed higher by 382.31 points at 16,506.67. Major Gainers are Elecon Eng (7.23%), Crompton Greaves (4.73%), Siemens (4.01%), BHEL (3.78%) and L&T (3.20%).

BSE Metal index fell by 159 points to close at 16,642.01. Major losers are Gujarat NRE (8.50%), NALCO (3.71%), Sterlite Industries (2.91%), JSW Steel (2.74%).

BSE Oil & Gas index closed higher by 45.16 points at 11,259.92. Gainers are Aban offshore (5.05%), GAIL India (1.62%), ONGC (1.03%), Reliance (0.46%), Cairn India (0.40%)BR>
BSE Bankex index closed lower by 32.96 points at 10,156.52. Losers are SBI (1.76%), Bank of Baroda (1.53%), Allahabad Bank (0.89%), Canara Bank (0.98%), Bank of India (0.88%).

BSE IT index fell by 70.13 points to close at 4,062.67 as Satyam (2.81%), Infosys (2.69%), Patni Comp (2.62%), TCS (2.24%), HCL Tech (1.62%) closed lower.

BSE Realty index closed lower by 36.77 points at 9,979.72. Losers are Unitech (2.06%), Phoenix mill (1.59%), DLF (0.92%), Omaxe (0.87%) and Purvankara (0.40%).
Market

Tuesday, February 26, 2008

Functions of UNCTAD

The UNCTAD was established in 1964 in order to provide a forum where the developing countries could discuss the problems relating to their international trade and economic development. This was set up especially relating to their international trade and economic development. This was set up especially because it was felt that the then existing institutions like GATT and IMF were not properly organist to handle the particular problems of the developing countries. With more than 70 members, UNCTAD is the only body where developed as well as the erstwhile centrally planned countries are members.
The primary objective of UNCTAD is to formulate policies relating to aspects of development including trade, aid, transport, finance and technology. UNCTAD action programmes and priorities are based on every country has the sovereign right freely to dispose of its national resources in the interest of its economic development and well being of its people and freely to trade with other countries.

Time 4 sleep is best in every kind of beds

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ICRA in MOU with State Bank of Travancore

ICRA Ltd has informed that ICRA Ltd (ICRA) and State Bank of Travancore have signed a Memorandum of Understanding (MoU) under which ICRA will assign ratings to the Banks loans and its other exposures under the standardized approach of RBIs New Capital Adequacy Framework for Basel-II.

In this regard the Company has issued the following press release:

Credit rating agency ICRA Ltd (ICRA) and State Bank of Travancore have signed a Memorandum of Understanding (MoU) under which ICRA will assign ratings to the Banks loans and its other exposures under the standardized approach of RBIs New Capital Adequacy Framework for Basel-II.

ICRAs ratings for the standardized approach would be carried out under its Line of Credit rating service and would enable State Bank of Travancore to assign the new risk weights applicable to its borrowers under Basel-II. The risk weights would be linked to the various rating categories and would be as per RBIs Basel II guidelines.

To assist potential and existing of borrowers of State Bank of Travancore in obtaining ratings, ICRA is offering special terms to the clients of State Bank of Travancore.

The MoU between ICRA and State Bank of Travancore would assist the Bank in implementing RBIs New Capital Adequacy Framework under Basel-II.

Jindal Saw Ltd has announced the following Outlook

Industry

Rising Demand for steel pipes is expected to be higher in the medium term on account of increased exploration activities and thrust on setting up infrastructure to transport oil and gas. In India, rapid economic growth faces an urgent need to develop and improve water supply, which would also increase demand for SAW pipes. Depleting oil reserves have led to increased exploration efforts, resulting in more wells in the exploratory rig. Demand for seamless pipes is directly proportional to the increase in digging of wells which is also expected to remain high.

India is expected to see a spurt in construction of pipeline infrastructure as the countrys spending on exploration and production (E&P) and gas related pipeline capex increases. It is expected that water and irrigation offer a very strong business opportunity in India, which will benefit Indian HSAW, ERW and DI pipe manufacturers, in addition to the opportunity from the energy sector.

Company

The Company follows a multi-product approach to pipes - offering a full product portfolio of LSAW (longitudinal submerged are welded), HSAW (helical submerged are welded), seamless, DI pipes, anti-corrosion coatings, connector casings and Hot reduction Bends. Its product portfolio allows it to comfortably straddle between value-driven products (DI and seamless pipes, which are high-margin segments) and volume-driven ones (SAW pipe business).

Besides LSAW and HSAW, It is increasing its focus on the water infrastructure sector in India. Your Company is currently one of the very few pipe manufacturers capable of offering a complete pipe solution to the water sector (ie, spiral pipes, ductile pipes and accessories). The DI pipe business gives your Company an opportunity to take advantage of the strong domestic capital expenditure cycle seen in the water transportation segment in India.

Post session Indian Stock Market Commentary

The Indian market rallied through the trading session to close on an upbeat note. The market opened with heavy gains on the back of favoring cues from the global markets and kept on hovering in the positive territory through out the trading session. The market however pared some of its gains soon after the firm start but gained the momentum soon after the declaration of the Union Railway Budget. The Small Caps and Mid Caps also joined the rally of the benchmark indices as they also posted handsome gains. From the sectoral front, the Capital Goods, Realty and Metal stocks remained in the limelight as most buying was seen from these baskets. The BSE Sensex closed higher by 155.62 points at 17,806.19 and NSE Nifty closed up by 69.35 points at 5,270.05. The BSE Mid Cap and Small Cap closed higher by 96.45 points and 122.21 points at 7,690.86 and 9,648.49 respectively.

BSE Metal index grew by 270.85 points to close at 16,801.01. Major gainers are NALCO (7.37%), Jindal Stainless (7.19%), Gujarat NRE (4.21%), Sterlite Industries (23.89%) and SAIL (2.57%).

BSE Oil & Gas index closed higher by 157.38 points at 11,214.76. Gainers are BPCL (5.38%), Cairn India (5.85%), HPCL (4.75%), Indian Oil (4.17%), RPL (1.51%) and GAIL India (1.93%).

BSE Bankex index closed higher by 76.34 points at 10,189.48. Gainers are Bank of India (4.75%), HDFC Bank (2.27%), Union Bank (1.36%), Kotak Bank (1.31%), Centurion Bank of Punjab (1.04%).

BSE Power index closed up by 95.62 points at 3,706.80 as Suzlon Energy (6.26%), Reliance Energy (4.59%), BHEL (4.58%), GMR Infra (3.63%) and CESC (2.07%) closed in green.

BSE IT index grew by 70.13 points to close at 4,062.67 as Karut Net (5%), HCL Tech (4.52%), I-Flex (3.12%), Infosys (3.02%), Aptech (2.54%), NIIT Tech (1.70%) closed higher.

BSE Realty index closed higher by 247.18 points at 10,016.49. Gainers Indbul Real (11.06%), Omaxe (2.43%), Unitech (2.17%), Purvankara (1.65%), Parsvnath (1.30%).

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Allcargo Global enters into Joint Venture Agreement with Container Corporation of India Ltd

Allcargo Global Logistics Ltd has informed that the Company has entered into a joint venture agreement with Container Corporation of India Ltd (CONCOR), a Public Sector Undertaking engaged in the business of, inter-alia, Container Rail Transportation, ICD operations, Warehousing, Road Transportation, Coastal Shipping and Cold Chain Logistics, for setting up of Container Freight Station (CFS) / Inland Container Depot (ICD) at Dadri, Greater Noida in Uttar Pradesh for catering the container traffic of North India.

The proposed venture would help both the Companies in achieving significant growth in their respective business genre by attracting high volumes of existing NCR LCL Cargo at Dadri CFS / ICD. The said venture is expected to commence operations by January 2009.

In this regard the Company has issued the following Press Release:

Allcargo Global Logistics Ltd (Allcargo) and Container Corporation of India Ltd(CONCOR), both premier players in their respective areas of business, namely, MultiModal Transport Operations & CFS operations and Rail Container Logistics, have formed a Joint Venture Company (yet to be named) for establishment of a CFS at ICD Dadri, Greater Noida in the State of Uttar Pradesh. This facility would be built at the CONCOR ICD at Dadri and would cater to the container traffic of North India.

The state of the art facility would be developed on area of 40,000 sq. mtrs and would have the capacity to handle 84,000 teus pa. This facility is expected to commence operations by Jan09.

Sunday, February 24, 2008

Lidget is best in Concrete Garages

It's well known to everyone that home plays very important role in everyone's life and it's the dream of everyone to make its own house but to make our own house is not a simple task, huge amount of money has required in creation of any house, due to which to which peoples works hard to make their own dream house, to convert their dream in actuality.
Its fact that that home is very important but one most important thing is also present behind the making of house the material which is used in the time of building our home, is it best for home, having good quality or poor quality, you must be serious about all these because strength is also very important for your home.
The most important part of your house Garage is also left; I think it's compulsory in every house because all hard works of any house have been occurred in this part of home that's why strong structure of garage is essential for everyone but to make strong garage or many other places where heavy works have been done, which material you have to use to make it very strong, here is one best option is available for you due to which you can make your strong garage.
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Stock Market

Now a day's stock plays very important role in everyone's life because stock gives you chance to earn more or in other words we can say that it's the bag of uncountable money, just understand the atmosphere of market and put your money in those companies who are in progress or who will become on the top in future due to which you may get huge amount of money.
In stock marketing you set your valuable money in many different companies in a form of shares and due to these shares you become the part of company, it means if companies goes in profit you also get profit or in opposite if company is in loss you also get loss from your company.
I think it's the opposite of gambling but it's a legal gambling in which put how much you want or capacity and look would be happen with you, gain or loss.

Magic loan is best

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Harmful consequences of Multinational corporations

(1) Obsolete Technology: Multinational corporations often transfer outdated technology to host countries. In several cases, technology transferred was unsuitable leading to the waste of scarce capital. Repetitive imports of tech same technology ad nothing to technical knowledge in host countries. Multinationals have failed to develop local technical skills and talent.
(2) Excessive Remittance: Multinational companies extract maximum payment from their subsidiaries and collaborators in the form of royalty, technical fee, dividend, etc. They repatriate profits thereby putting severe pressures on the foreign exchange reserves and the balance of payments of host countries.
(3) Disregard of National Priorities: Multinationals don not invest funds in strategic sectors and backward regions of host countries. They select the more profitable consumer goods industries which is against the goals and priorities of developing countries. Most of the multinationals in India have entered low tech areas such as soft drinks, toilet goods, etc.
(4) Creation of Monopoly: Multinational corporations collaborate with big business houses. They give rise to monopoly and concentration of economic power in developing countries. They kill indigenous firms through superior technology and aggressive advertising. for example, foreign multinationals acquired Parle Soft Drinks and Kwality Ice Cream companies in India.

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Small-cap, mid-cap indices buck market fall

Breaking a three-day winning streak, the market edged lower today on profit taking. The market failed to sustain higher levels after a firm start. A firm opening was triggered by Reliance Power's surprise announcement on Sunday, 17 February 2008, that it would consider bonus issue. The market was down sharply in afternoon trade but managed to cut losses tracking firm European markets, which opened after Indian markets. The benchmark index, BSE Sensex,
dipped below 18,000 mark only to regain that level in mid-afternoon trade.

Reliance Power soared on high volumes. Despite the market fall, the breadth was positive on buying in small-cap and mid-cap stocks. Asian markets were mixed.

The 30-share BSE Sensex was down 67.20 points or 0.37% at 18,048.05. Sensex lost 214.29 points at the day's low of 17,900.96, hit in afternoon trade. Sensex opened 112.96 points higher at 18,228.21 and advanced to hit a high of 18,256.82 in early trade. At the day's high, Sensex rose 141.57 points.

At current 18,048.05, Sensex trades at a PE multiple of 17.18 to 18.04, based on projected FY 2009 EPS of Rs 1000-to-Rs 1050 for 30 Sensex companies.

The broader based S&P CNX Nifty was down 26 points or 0.49% at 5,276.90. Nifty February 2008 futures were at 5280.10, a premium of 3.20 points as compared to sport closing

From 16,608.01 on 12 February 2008, Sensex had advanced 1507.24 points or 9.07% in three trading sessions to 18,115.25 o n Friday, 15 February 2008.

The market breadth was positive on BSE: 1,850 shares advanced as compared to 878 that declined. 46 shares remained unchanged. 19 out of 30 Sensex stocks declined.

The BSE Mid-Cap index was up 0.65% to 7,641.48 and the BSE Small-Cap index gained 1.40% to 9,755.35. Both these indices outperfomed the Sensex

The total turnover on BSE amounted to Rs 4857 crore as compared to Rs 6,415.18 on Friday, 15 February 2008

Turnover on NSE's futures & options segment declined to Rs 32416.67 crore from Rs 42675.67 on Friday, 15 February 2008

Reliance Power surged 6.95% to Rs 411.45, off day's high of Rs 429.60. The counter saw high volumes of 1.12 crore shares on BSE. The company said on Sunday, 17 February 2008, its board would meet on Sunday, 24 February 2008, to decide bonus ratio. The bonus shares will be issued to non-promoter shareholders to compensate the losses suffered by them when the company was listed last week. The stock has been consistently trading at a discount to IPO price
of Rs 450, since its listing on 11 February 2008. Meanwhile, the company has also sought an enquiry by the Securities & Exchange Board of India, the market regulator, into the decline in shares.

Sectoral indices on BSE displayed mixed trend. The the BSE Consumer Durables index (up 0.04% to 4,708.56), the BSE PSU index (up 0.24% to 8,572.39), the BSE Auto (up 0.43% at 4,789.13), the BSE FMCG index (up 2.26% at 2,258.26), the BSE Health Care index (down 0.37% at 3,678.31), the BSE Metal index (up 0.50% to 16,247.20), and the BSE Bankex (up 0.56% at 10,944.85), outperformed the Sensex

The BSE Capital Goods index (down 0.58% at 16,322.65), BSE Oil & Gas index (down 0.85% to 11,172.91), the BSE Power (down 0.42% to 3,752.87), the BSE Realty index (down 2.77% at 10,206.95), the BSE IT (down 1.31% to 3,829.24), the BSE TecK index (down 0.56% to
3,332.73), underperformed the Sensex

India's largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) was down 1.65% to Rs 2548 on 4.51 lakh shares. The stock moved in a range of Rs 2537.40 and Rs 2650 so far during the day.

India's top truck marker in terms of sales, Tata Motors slipped 2.56% to Rs 732.10 on 1.29 lakh shares. It was the top loser from Sensex pack.

India's largest public sector engineering company in terms of profit, Bharat Heavy Electricals dropped 1.75% to Rs 2222 despite reports the company has bagged an order worth Rs 650 crore from General Electricity Company, Libya for setting up a 300 megatwatt gas turbine based power plant. The stock hit a high of Rs 2280 in intra-day trade.

India's largest private sector engineering company in terms of outstanding order book position, Larsen & Toubro slipped 0.90% to Rs 3505. The company said on Monday, 18 February 2008, it has bagged an order worth Rs 1250 crore from Oil & Natural Gas Corporation.

State Bank of India (down 2.10% to Rs 2250), Reliance Energy (down 1.38% to Rs 1685.95), and DLF (down 2.38% to Rs 858), were the other losers from Sensex pack.

Mahindra & Mahindra, the country's top tractor maker in terms of sales, extended gains in late trade. It advanced 3.48% to Rs 640. It was the top gainer from Sensex pack. Mahindra & Mahindra today said that Mahindra Defence Systems, a group company, is in talks with WASS for underwater defense joint venture. Mahindra Defence Systems (MDS) makes high mobility and light bullet proof vehicles to the armed forces, paramilitary and police forces.

India's top cigarette manufacturer in terms of sales, ITC staged a sharp rally in late trade. The stock was down for most part of the day but settled with gain of 3.45% to Rs 210.

Bajaj Auto, the country's second largest bike maker in terms of sales, gained 1.16% to Rs 2200 after the Madras High Court on Saturday, 16 February 2008, restrained TVS Motor Company from manufacturing and selling 125 cc 'Flame' motorcycle by using the technology/invention described in the patent granted to Bajaj Auto. TVS Motor Company was down 2.88% to Rs 38.85.

ICICI Bank (up 1.67% to Rs 1211), Hindustan Unilever (up 2.32% to Rs 216.10), and Hindalco Industries (up 3.08% to Rs 184) were the other gainers from Sensex pack.

IT pivotals were subdued. Infosys Technologies (down 0.95% to Rs 1550), TCS (down 2.46% to Rs 850.10), Wipro (down 0.94% to Rs 416.30), and Satyam Computers (down 2.51% to Rs 427), edged lower

Sugar stocks rose on fresh buying. Bajaj Hindustan rose 9.84% to Rs 264.60, Balrampur Chini Mills gained 7.52% to Rs 97.25 and Shree Renuka Sugars advanced 11.30% to Rs 1002.

Reliance Power topped the turnover chart with a turnover of Rs 472 crore followed by Reliance Natural Resources (Rs 376 crore), Essar Oil (Rs 166.50 crore), Reliance Capital (Rs 158.60 crore) and Reliance Petroleum (Rs 153.60 crore), in that order.

Reliance Natural Resources led the volume chart clocking volumes of 2.66 crore shares followed by Ispat Industries (2.22 crore shares), Reliance Power (1.13 crore shares), Nagarjuna Fertilisers (99.25 lakh shares) and Himachal Futuristic Communications (93.70 lakh shares), in that order.

Among the side counters, Panasonic Carbon (up 18.61% to Rs 137), J Kumar Infraprojects (up 18.38% to Rs 118.85), Dish TV (up 20% to Rs 19.95), Wire & Wireless India (up 14.53% to Rs 54), and Praj Industries (up 12.95% to Rs 191) surged.

Provogue India (down 13.02% to Rs 920), Phoenix Mills (down 8.18% to Rs 414.35), Geodesic Information Systems (down 9.35% to Rs 181.05), Ansal Infrastructure (down 7.97% to Rs 215.40) and Mastek (down 6.10% to Rs 248.90), slipped

KNR Constructions settled at Rs 154.35 on BSE, a discount of 9.20% over IPO price of Rs 170. The stock debuted at Rs 180, a premium of 5.8% over the IPO price. The stock hit a low of Rs 155.65 and high of Rs 199. On BSE, 57.56 lakh shares changed hands in the counter.

Disa India galloped 20% to Rs 1826.25 after the company's board of directors at its meeting held on 16 February 2008 recommended a dividend of 2000% or Rs 200 per share in the year ended December 2007.

Unitech declined 4.14% to Rs 399.90 despite the West Bengal government giving possession of 12,500 acres of land at Nayachar Island, near Haldia, in the state to the developer PCR Chemicals.

Educomp Solutions slipped 2.30% to Rs 4068 on reports the company plans to invest up to Rs 800 crore to set up 150 schools in the next four years.

DMC International rose 4.81% to Rs 21.80 after a group company Swen Realty & Media entered into an agreement with Global Infocom to acquire an online portal.

Kalindee Rail Nirman Engineers rose 1.76% to Rs 425 after the company said its board will meet on 18 February 2008 to consider raising Rs 150 crore by issue of equity to qualified institutional
buyers.

Ramco Systems gained 3.13% to Rs 145 after the company launch of India's first full-fledged Software-as-a-Service enterprise resources planning tool viz. Ramco OnDemand ERP.

European markets, which opened after Indian markets, extended early gains. Key benchmark indices in United Kingdom (up 1.89% to 5,896.70), Germany (up 1.70% to 6,948.61), and France (up 1.56% to 4,846.36), advanced.

Asian markets, which opened before Indian markets were mixed today, 18 February 2008. Japan's Nikkei (up 0.09% at 13,635.40), Taiwan's Taiwan Weighted index (up 0.18% at 7,890.90), South Korea's Seoul Composite index (up 0.09% at 1,696.24), and China's Shanghai
Composite index (up 1.58% to 4,568.51), edged higher. However, Hong Kong's Hang Seng (down 1.61% at 23,759.25) and Singapore's Straits Times index (down 0.78% at 3,064.65), declined.

US markets ended Friday's, 15 February 2008 trade on mixed note after economic reports offered bleak views on everything from manufacturing to consumer sentiment. The Dow Jones industrial average declined 28.77 points, or 0.23%, to 12,348.21. The S&P 500 index gained 1.13 points, or 0.08%, to 1,349.99. The Nasdaq Composite index was down 10.74 points, or 0.46%, to 2,321.80.

India's wholesale price index rose 4.07% in the 12 months to 2 February 2008, marginally lower than the previous week's rise of 4.11%, government data released on Friday, 15 February 2008 showed

Sensex garners 1507 points in three days

Posting gains for the third successive session, the key benchmark indices settled on a firm note today. Major support to the marketcame in from the metal and oil sector stocks. Buying was witnessedin mid-caps and small-caps, as reflected in the strong market breadth. After sliding in early trade tracking weak Asian stocks, the market moved higher in the later half of the trading session as buyingintensified after Asian markets recovered. European markets, which opened after Indian markets, were trading in the green. India's wholesale price index rose 4.07% in the 12 months to 2 February 2008, marginally lower than the previous week's rise of4.11%, government data released today afternoon showed. The 30-share BSE Sensex rose 348.62 points or 1.96% at 18,115.25. Sensex rose 376.29 points at day's high of 18,142.92, at the fag
end of the session. Sensex lost 321.58 points at the day's low of 17,445.05, hit in early trade. The broader CNX S&P Nifty was up 100.90 points or 1.94% at 5302.90. From a recent low of 16,608.01 on 12 February 2008, Sensex has advanced 1507.24 points or 9.07% in three trading sessions. The BSE Mid-Cap index rose 1.87% to 7,592.08. It underperformed the Sensex. The BSE Small-Cap rose 2.27% at 9,621.13. It outperformed the Sensex. The market breadth was strong: On BSE, 1983 stocks advanced as compared to 763 that declined. 47 stocks remained unchanged. BSE clocked a turnover of Rs 6372 crore as against Rs 5,735.81 crore on Thursday, 14 February 2008. The Nifty February 2008 futures were at 5276.90, at a discount of
26 points as compared to the spot closing of 5302.90. The NSE's futures & options (F&O) segment turnover was Rs 42675.67 crore, which was higher than Rs 37973.36 crore on Thursday, 14 February 2008. India's largest private sector firm by market capitalization and
oil refiner Reliance Industries rose 3.02% at Rs 2,590.55. The company has reportedly secured approval from the Supreme Court to build part of an underground pipeline from the Krishna Godavari basin through a bird sanctuary. India's largest private sector bank by assets ICICI Bank rose 2.48% to Rs 1,191.15. Among the other Sensex gainers, Hindalco Industries (up 9.01% to Rs 178.50), Tata Steel (up 5.12% to Rs 818.50), Bajaj Auto (up 4.78% to Rs 2,174.75), State Bank of India (up 4.21% to Rs 2,297.95) and Ranbaxy Laboratories (up 4.20% to Rs 396.15), advanced. Among the Sensex losers, Maruti Suzuki (down 2.13% to Rs 812.75), Grasim Industries (down 1.13% to Rs 2,814.20), TCS (down 0.30% to Rs 871.50), Ambuja Cements (down 0.30% to Rs 115.85) and Satyam Computer (down 0.05% to Rs 438.20), declined. The BSE Metal index rose 3.49% to 16,167.16. It outperformed the Sensex. Hindustan Zinc (up 4.53% to Rs 591), Jindal Saw (up 4.12% to Rs 821.90), Ispat Industries (up 3.69% to Rs 43.60), National Aluminum Company (up 3.52% to Rs 361.65) and Steel Authority of India (up 3.32% to Rs 220.85), edged higher. Oil stocks moved up after the government announced hike in petrol
and diesel prices by Rs 2 and Rs 1 respectively on Thursday, 14 February 2008. The BSE Oil & Gas index rose 3.08% to 11,269.09. It outperformed the Sensex. Essar Oil (up 9.77% to Rs 234.90), Indian Oil Corporation (up 4.45% to Rs 560.65), Gail India (up 4.15% to Rs 427.95), HPCL (up 3.75% to Rs 308.75), Reliance Natural Resources (up 3.71% to Rs 136.95) and ONGC (0.74% to Rs 1,033.30), gained. The BSE Realty index rose 3.49% to 10,497.27. It outperformed the Sensex. Unitech (up 6.72% to Rs 417.15), Ansal Properties and Infrastructure (up 5% to Rs 234.05), Mahindra Lifespace Developers (up 2.81% to Rs 650.85), Omaxe (up 2.42% to Rs 273.35) and DLF (up 1.63% to Rs 878.95), moved up. Real estate developer Indiabulls Real Estate spurted 5.24% to Rs 656.55 after it sold 37.5% in its power unit for Rs 1580 crore to
two investors including to private equity venture of steel magnate Laxmi Mittal.

Software stocks lagged behind following overnight decline in the US market. The BSE IT index rose merely 0.95% to 3,879.98. It underperformed the Sensex. Infosys Technologies (up 1.13% to Rs 1,564.75) and Wipro (up 1.08% to Rs 420.25), gained. TCS (down 0.30% to Rs 871.50) and Patni Computer (down 0.45% to Rs 256.35), declined. Indian IT firm earn more than half of their revenues from the US market.

Anil Dhirubhai Ambani Group firm Reliance Power rose 3.96% to Rs 384.70 on volume of 1.17 crore shares on BSE. On Monday, 11 February 2008, the stock had debuted at Rs 547.80, a premium of Rs 21.73% over the IPO price of Rs 450.

Another ADAG firm Reliance Capital rose 4.33% to Rs 2080.95. Reliance Capital Asset Management Company today said it has mopped up Rs 5,660 crore in its new fund offer Reliance Natural Resources Fund.

Reliance Power clocked the highest turnover of Rs 444.54 crore on BSE. Reliance Natural Resources (Rs 395.85 crore), Reliance Energy (Rs 260.65 crore), Reliance Petroleum (Rs 253.30 crore) and Reliance Capital (Rs 241.27 crore), were the turnover toppers on BSE in that order.

Reliance Natural Resources reported highest volume of 2.95 crore shares on BSE. Ispat Industries (1.76 crore shares), Reliance Petroleum (1.53 crore shares), IFCI (1.36 crore shares) and Reliance Power (1.17 crore shares), were the volume toppers on BSE in that order.

In Europe, key indices in UK, France and Germany were up 0.22% to 0.38%.

Asian markets recovered from initial fall. Key indices in Hong Kong, Singapore and Taiwan were up 0.14% to 1.46%. Key indices in South Korea, China and Japan were down by 0.03% to 1.21%.

The Dow Jones industrial average plunged 175.26 points, or 1.40%, to 12,376.98 on Thursday, 14 February 2008. The Standard & Poor's 500 index slipped 18.35 points, or 1.34%, to 1,348.86, and the Nasdaq composite index dropped 41.39 points, or 1.74%, to 2,332.54.

Reiterating the government's target for average expansion in the next few years, Prime Minister Manmohan Singh told media on Thursday, 14 February 2008 that India can sustain close to 9%
economic growth. India's economy expanded 9.6% in the last fiscal year.

The market may slide following weak global cues.

The market may slide following weak global cues. Volatility is also expected to remain high, as it had been in the recent past.

Meanwhile, annual inflation data, based on the wholesale price index, for the week ended 2 February 2008 is due today, 15 February 2008. Inflation gained 4.11% in the week ended 26 January 2008 from 3.93% in the week ended 19 January 2008.

Asian markets were trading weak today, 15 February 2008. Hang Seng (down 1.98% at 23,546.53), Japan's Nikkei (down 1.49% at 13,423.93), Taiwan's Taiwan Weighted (down 0.25% at 7,845.32), South Korea's Seoul Composite (down 0.95% at 1,681.38), Singapore's Straits Times (down 0.22% at 3,038.80) and China's Shanghai Composite (down 1.81% to 4,470.05), all edged lower

US markets slumped on Thursday, 14 February 2008, as stocks fell after Federal Reserve Chairman Ben Bernanke alluded to the possibility of US nearing a recession, indicating the Fed may continue to ease interest rates. Bernanke and Treasury Secretary Paulson continued to forecast slow growth. Financial stocks were under pressure after Swiss banking giant UBS reported a quarterly loss of $11.12 billion in Q4 December 2007.

The Dow Jones industrial average plunged 175.26 points, or 1.40%, to 12,376.98. The Standard & Poor's 500 index slipped 18.35 points, or 1.34%, to 1,348.86, and the Nasdaq composite index dropped 41.39 points, or 1.74%, to 2,332.54.

Back home, the market rallied on the back of strong global cues. The 30-share BSE Sensex surged 817.49 points or 4.82% at 17,766.63, recording its fourth biggest rise in percentage terms on Thursday, 14 February 2008. The broader CNX S&P Nifty rose 272.55 points or 5.53% at 5202 for the day.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth Rs 60.99 crore on Thursday, 14 February 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 205.03 crore on that day.

Crude oil prices fell in Asian trade today, 15 February 2008 amid continuing concerns about the ailing US economy. In morning trade, New York's main contract, light sweet crude for delivery in March fell 34 cents to $95.12 per barrel. London's Brent North Sea crude for March delivery was down 25 cents to $94.91.

Market remains subdued

The market recovered from lower level in early afternoon trade. Earlier today after a firm start the market had lost ground on selling pressure at higher level. A firm opening was triggered by Reliance Power's surprise announcement on Sunday, 17 February 2008, that it would consider bonus issue. The benchmark index, BSE Sensex, dipped below 18,000 mark only to regain that level as buying support emerged at lower level.

Reliance Power soared on high volumes. The market breadth was positive. Asian markets were trading mixed.

At 12:29 IST, the 30-share BSE Sensex was down 45.42 points or 0.25% at 18,073.15. Sensex lost 129.94 points at the day's low of 17,985.31, hit in mid-morning trade. It opened 112.96 points higher at 18,228.21 and advanced to hit a high of 18,256.82 in early trade. At the day's high, Sensex rose 141.57 points.

The broader based S&P CNX Nifty was down 16.85 points or 0.32% at 5,286.05.

The market breadth was positive on BSE: 1,761 shares advanced as compared to 775 that declined. 48 shares remained unchanged. 17 out of 30 Sensex stocks declined.

The total turnover on BSE amounted to Rs 2287 crore as compared to Rs 1539 by 11:30 IST

Reliance Power surged 8.58% to Rs 417.70, off day’s high of Rs 429.60. The counter saw high volumes of 67.76 lakh shares on BSE. The company said on Sunday, 17 February 2008, its board would meet on Sunday, 24 February 2008, to decide bonus ratio. The bonus shares will be issued to non-promoter shareholders to compensate the losses suffered by them when the company was listed last week. The stock has been consistently trading at a discount to IPO price of Rs 450, since its listing on 11 February 2008.

India’s top truck marker in terms of sales, Tata Motors slipped 2.75% to Rs 730.45 on 32,765 shares. It was the top loser from Sensex pack.

ITC (down 1.48% to Rs 200), Bharat Heavy Electrical (down 1.76% to Rs 2221.50), and DLF (down 1.48% to Rs 865.80), were the other losers from Sensex pack.

Reliance Energy, the country’s largest private sector power utility company in terms of sales, rose 2.60% to Rs 1753.90. It was the top gainer from Sensex pack. Reliance Energy holds about 45% stake in Reliance Power.

Tata Steel (up 1.53% to Rs 831), and ICICI Bank (up 2.01% to Rs 1215), were the other gainers from Sensex pack.

India’s largest private sector engineering company in terms of outstanding order book position, Larsen & Toubro rose 0.20% to Rs 3543 after the company said on Monday, 18 February 2008, it has bagged an order worth Rs 1250 crore from Oil & Natural Gas Corporation. The company made this announcement before market hours today, 18 February 2008.

Bajaj Auto, the country’s second largest bike maker in terms of sales, rose 0.80% to Rs 2191.95 after the Madras High Court on Saturday, 16 February 2008, restrained TVS Motor Company from manufacturing and selling 125 cc ‘Flame’ motorcycles by using the technology/invention described in the patent granted to Bajaj Auto. TVS Motor Company stock was down 2.12% to Rs 39.15.

India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) was down 0.68% to Rs 2572.90 on 2.21 lakh shares. The stock moved in a range of Rs 2552 and Rs 2650 so far during the day.

IT pivotals stayed subdued. Infosys Technologies (down 0.40% to Rs 1558.55), TCS (down 1.43% to Rs 859), Wipro (down 1.56% to Rs 413.20), and Satyam Computers (down 1.22% to Rs 432.85), edged lower

KNR Constructions was hovering at Rs 160 on BSE, a discount of 5.88% over IPO price of Rs 170. The stock debuted at Rs 180, a premium of 5.8% over the IPO price. The stock hit a low of Rs 155.65 and high of Rs 199, so far in the day. On BSE, 37.19 lakh shares changed hands in the counter.

DMC International rose 4.81% to Rs 21.80 after a group company Swen Realty & Media entered into an agreement with Global Infocom to acquire an online portal.

India Foils surged 5% to Rs 16.40 after the company said Madras Aluminium Company, the promoter of the company, has decided to join hands with Eee Dee Aluminium to work towards the revival of the company.

Asian markets were trading mixed today, 18 February 2008. Japan's Nikkei (up 0.09% at 13,635.40), Taiwan's Taiwan Weighted index (up 0.18% at 7,890.90), South Korea's Seoul Composite index (up 0.09% at 1,696.24), and China’s Shanghai Composite index (up 1.74% to 4,575.44), edged higher. However, Hong Kong's Hang Seng (down 0.90% at 23,930.09), Singapore's Straits Times index (down 0.09% at 3,085.95), declined.

US markets ended Friday’s, 15 February 2008 trade on mixed note after economic reports offered bleak views on everything from manufacturing to consumer sentiment. The Dow Jones industrial average declined 28.77 points, or 0.23%, to 12,348.21. The S&P 500 index gained 1.13 points, or 0.08%, to 1,349.99. The Nasdaq Composite index was down 10.74 points, or 0.46%, to 2,321.80.

Back home, the 30-share BSE Sensex jumped 348.62 points or 1.96% at 18,115.25 on Friday, 15 February 2008. The broader CNX S&P Nifty was up 100.90 points or 1.94% at 5302.90 on that day.

The market ended its four-week losing streak to post gains in the week ended Friday, 15 February 2008 as global markets rallied following an unexpected rise in US retail sales in January 2008. The BSE Sensex surged 650.36 points or 3.72% to 18,115.25 in the week ended Friday, 15 February 2008. S&P CNX Nifty rose 182.55 points or 3.56% to 5,302.90 in the week.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth Rs 261.20 crore on Friday, 15 February 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 138.66 crore on that day.

FIIs were net buyers to the tune of Rs 174.42 crore in the futures & options segment on Friday, 15 February 2008. They were net buyers of index futures to the tune of Rs 205.57 crore and sold index options worth Rs 5.29 crore. They were net sellers of stock futures to the tune of Rs 40.30 crore and bought stock options worth Rs 14.44 crore.

India's wholesale price index rose 4.07% in the 12 months to 2 February 2008, marginally lower than the previous week's rise of 4.11%, government data released on Friday, 15 February 2008 showed.

Market slightly lower in volatile trade


The market opened on a firm note boosted by Reliance Power’s surprise announcement of bonus issue on Sunday, 17 February 2008. However it was not able to sustain at higher level and slipped in the red. Asian markets were trading mixed today, 18 February 2008. The market breadth was strong on BSE. Power generation stocks rose. However IT pivotals slipped.

At 10:29 IST, the 30-share BSE Sensex was down 32.04 points or 0.18% at 18,083.21. It opened 112.96 points higher at 18,228.21 and advanced to hit a high of 18,256.82 in early trade. At the day’s low of 18,035.61, the Sensex lost 79.64 points.

The broader based S&P CNX Nifty was down 14.08 points or 0.28% at 5,286.50.

The market breadth was strong on BSE: 1,326 shares advanced as compared to 425 that declined. 32 shares remained unchanged. 17 out of 30 Sensex stocks advanced.

The total turnover amounted to Rs 670 crore on BSE

India’s largest private sector steel maker in terms of total production Tata Steel surged 3.12% to Rs 844 on 2.44 lakh shares. It was the top gainer from Sensex pack.

National Thermal Power Corporation (up 2.25% to Rs 208.65), Reliance Energy (up 2.08% to Rs 1745), and Ranbaxy Laboratories (up 1.73% to Rs 403), were the other gainers from Sensex pack.

India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) was up 0.13% to Rs 2593.95 on 57,268 shares.

India’s largest oil exploration company in terms of market capitalisation Oil & Natural Gas Corporation slipped 2.39% to Rs 1008.65. It was the top loser from Sensex pack.

IT pivotals slipped on fresh selling. Infosys Technologies (down 0.82% to Rs 1551.90), TCS (down 0.63% to Rs 863), Wipro (down 1.25% to Rs 415), and Satyam Computers (down 0.45% to Rs 436.25), edged lower

Reliance Power surged 9.89% to Rs 422.75 on high early volumes of 36.21 lakh shares after it scheduled board meet on Sunday, 24 February 2008, to decide bonus ratio. The bonus shares will be issued to non-promoter shareholders to compensate the losses suffered when the company was listed a week ago. The stock has been consistently trading at a discount to IPO price of Rs 450, since its listing on 11 February 2008.

Asian markets were trading mixed today, 18 February 2008. Japan's Nikkei (up 0.10% at 13,635.72), Taiwan's Taiwan Weighted index (up 0.36% at 7,904.69) and China’s Shanghai Composite index (up 1.42% to 4,561.35), edged higher. However, South Korea's Seoul Composite index (down 0.35% at 1,688.86), Hong Kong's Hang Seng (down 0.96% at 23,915.47), Singapore's Straits Times index (down 0.28% at 3,080.12), declined

US markets ended Friday’s, 15 February 2008 trade on mixed note after economic reports offered bleak views on everything from manufacturing to consumer sentiment. The Dow Jones industrial average declined 28.77 points, or 0.23%, to 12,348.21. The S&P 500 index gained 1.13 points, or 0.08%, to 1,349.99. The Nasdaq Composite index was down 10.74 points, or 0.46%, to 2,321.80.

Back home, the 30-share BSE Sensex jumped 348.62 points or 1.96% at 18,115.25 on Friday, 15 February 2008. The broader CNX S&P Nifty was up 100.90 points or 1.94% at 5302.90 on that day.

The market ended its four-week losing streak to post gains in the week ended Friday, 15 February 2008 as global markets rallied following an unexpected rise in US retail sales in January 2008. The BSE Sensex surged 650.36 points or 3.72% to 18,115.25 in the week ended Friday, 15 February 2008. S&P CNX Nifty rose 182.55 points or 3.56% to 5,302.90 in the week.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth Rs 261.20 crore on Friday, 15 February 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 138.66 crore on that day.

FIIs were net buyers to the tune of Rs 174.42 crore in the futures & options segment on Friday, 15 February 2008. They were net buyers of index futures to the tune of Rs 205.57 crore and sold index options worth Rs 5.29 crore. They were net sellers of stock futures to the tune of Rs 40.30 crore and bought stock options worth Rs 14.44 crore.

India's wholesale price index rose 4.07% in the 12 months to 2 February 2008, marginally lower than the previous week's rise of 4.11%, government data released on Friday, 15 February 2008 showed.

The market may head higher as the sentiment may be boosted after Reliance Power


The market may head higher as the sentiment may be boosted after Reliance Power,, on Sunday evening 17 February 2008, announced bonus issue for its shareholders to compensate the losses they suffered when the company was listed a week ago. The company's board will meet on Sunday, 24 February 2008, to decide bonus ratio. Most Asian markets were trading higher today.

Most Asian markets were trading higher today, 18 February 2008. Japan's Nikkei (up 1.28% at 13,797.28), Hong Kong's Hang Seng (up 0.63% at 24,300.44), Taiwan's Taiwan Weighted index (up 0.61% at 7,924.54), Singapore's Straits Times index (up 0.46% at 3,103.01). However South Korea's Seoul Composite index slipped 0.06% at 1,693.75

US markets ended Friday's, 15 February 2008 trade on mixed note after economic reports offered bleak views on everything from manufacturing to consumer sentiment. The Dow Jones industrial average declined 28.77 points, or 0.23%, to 12,348.21. The S&P 500 index gained 1.13 points, or 0.08%, to 1,349.99. The Nasdaq Composite index was down 10.74 points, or 0.46%, to 2,321.80.

Back home, the 30-share BSE Sensex jumped 348.62 points or 1.96% at 18,115.25 on Friday, 15 February 2008. The broader CNX S&P Nifty was up 100.90 points or 1.94% at 5302.90 for the day.

The market ended its four week loosing streak to posting gains for the week ended Friday, 15 February 2008 as global markets rallied following an unexpected rise in US retail sales in January 2008. The BSE Sensex surged 650.36 points or 3.72% to 18,115.25 in the week ended Friday, 15 February 2008. S&P CNX Nifty rose 182.55 points or 3.56% to 5,302.90 in the week.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth Rs 261.20 crore on Friday, 15 February 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 138.66 crore on that day.

FIIs were net buyers to the tune of Rs 174.42 crore in the futures & options segment on Friday, 15 February 2008. They were net buyers of index futures to the tune of Rs 205.57 crore and sold index options worth Rs 5.29 crore. They were net sellers of stock futures to the tune of Rs 40.30 crore and bought stock options worth Rs 14.44 crore.

India's wholesale price index rose 4.07% in the 12 months to 2 February 2008, marginally lower than the previous week's rise of 4.11%, government data released on Friday, 15 February 2008 showed.

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Saturday, February 23, 2008

Garware Offshore enters into MoU for Acquisition of Vessel

Garware Offshore Services Ltd has informed that the Company has entered into a Memorandum of Understanding (MoU) for the acquisition of one Anchor Handling Tug Cum Supply Vessel (AHTSV) of 60 Tons Bollard Pull fitted with Fire Fighting Equipment (FIFI 1)and Dynamic Position System (DP1).

The Vessel is schedule to be delivered to the Company in February, 2009.

ICSA India secures orders

ICSA India Ltd has informed that the Company has secured following work order(s) for a total contract value of Rs 43.97 Crores from Northern Power Distribution Company of A P Ltd, Warangal on System Improvement Project for supply and erection of 33/11 kv Substations with connected 33 kv & 11 kv lines for the project funded by Japan Bank for International Cooperation on 100% turnkey basis and erection of 132 kv Substation from Transmission Corporation of Andhra Pradesh, Hyderabad.

- Name of the Work : Supply and erection of 33/11 kv Substations with connected 33 kv & 11 kv lines and erection of 132 kv Substation

- Aggregate value of Contracts: Rs 43.97 Crores.

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Post Session Stock Market Commentary dated 22/02/2008

The market closed on a disappointing note with heavy losses across the sectoral indices. Taking the negative cues from the global markets, the domestic market opened with a heavy gap down and kept on hovering in the negative territory through out the trading session. Lack of investor''s interest in buying to book their positions led the frontline indices to close in the negative territory. Also, the weekly inflation figures that rose 4.35% for the week ended February 9, 2008 from 4.07% last week also add to the negative sentiments in the market. Also, the Union Budget 2008-09 due next week on Feb 29 led the investors to take calculative steps to book their positions. This budget will be last full-fledged budget from the Congress led UPA government before general elections, which is scheduled to be held early next year. From the sectoral front, the bankex, Oil & Gas, CG and IT were the most hit as most selling was seen from heses counters. The BSE Sensex closed lower by 385.61 points at 17,349.09 and NSE Nifty closed down by 81.05 points at 5,110.75. The BSE Mid Cap and Small Cap closed lower by 74.48 points and 97.58 points at 7,594.45 and 9,595.41 respectively.

BSE Bankex index fell by 328.72 points to close at 10,150.22. Major losers are HDFC bank (4.40%), ICICI bank (3.89%), Oriental bank (3.34%), Axis bank (3.12%).

BSE Oil & Gas index dropped by 239.26 points to close at 10,673. Scrips that lost are Cairn Ind (3.08%), Gail India (3%), Reliance Inds (2.87%), RNRL (2.43%).

BSE Metal index slipped by 70.44 points to close at 16,368.94 as Gujrat NRE (3.87%), Welspun Guj (3.42%), Ispat Inds (2.14%), JSW Steel (2.38%), Maharash Sea (2.24%) closed lower.

BSE IT index closed lower by 123.69 points at 3,918.28 as HCL Tech (4.97%), Mphasis (4.94%), Rolta Ind (4.78%), Satyam (4.23%), Mosear Baer (3.23%) and TCS (2.28%) closed in red.

BSE CG dropped by 181.74 points to close at 15,656.16. Losers are BEML (4.15%), Crompton Greaves (3.51%), Thermax (3.38%), Areva (3.04%) and BHEL (1.59%).

Friday, February 22, 2008

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Thursday, February 14, 2008

Punj Lloyd Group awarded S$ 400 Million (INR 1119.2 crore) Project by Marina Bay Sands Pte Ltd, Sing

Punj Lloyd Ltd has announced that its wholly-owned subsidiary Company Sembawang Engineers & Constructors Pts Ltd has been awarded a Singapore Dollar 400 million (INR 1119.2 crore) contract by Marina Bay Sands Pte Ltd to construct and build the North Podium of Marina Bay Sands Pte Ltd to construct and build the North Podium of Marina Bay Sands integrated report comprising to casino, theatres and retail arcades in Singapore.Press Release follows.....

Market opens with a huge gap up

The market today opens with a heavy gap up backed by the strong positive global cues. The BSE Sensex open with a heavy gap up of more than 600 points. All the BSE indices are trading in green in the opening trade. The Realty, Metal, capital Goods and Oil & Gas stocks are the most demanding stocks today. The overall market breadth is positive as 1,494 stocks are advancing whereas 533 stocks are declining on BSE.

At 10.32AM, the BSE Sensex was up by 615 points at 17,564 and the Nifty was up by 193.05 points to 5,122.50.The BSE Mid Cap increased by 243 points to 7,319 and the BSE Small Cap advanced by 246 points to 9,296.

DLF reported the top gainer from the BSE Sensex pack. It was up by (7.24%) at Rs.874 followed by Hindalco Industries grew by (6.67%) at Rs.160.

BSE Capital Goods index surged by 588.53 points to trade at 15,730.34. The top gainers are BHEL inclined by (5.92%) to Rs.2,092, L&T increased by (4.15%) at Rs.3,413 followed by Siemens and ABB up by (3.74%) and (2.26%) to Rs.1,525 and Rs.1,313.

BSE Metal index advanced by 577.06 points to trade at 15,351.37. The major gainers are Hindalco Industries, SAIL, NALCO and Sterlite Industries grew by (6.67%), (5.03%), (4.88%) and (3.81%) to Rs.160, Rs.209, Rs.344 and Rs.762 respectively

NTPC advanced by (3.72%) to Rs.195. The company plans to pump in Rs.475 crores in Ratnagiri Gas & Power Pvt. Ltd. in order to increase in capacity charge.

Wednesday, February 13, 2008

Dredging Corporation Board to consider interim dividend

Dredging Corporation of India Ltd has informed that a meeting of the Board of Directors of the Company will be held on February 23, 2008, inter-alia, to consider declaration interim dividend for the financial year 2007-08 and also for fixation of record date, for the purpose of ascertaining the Members and beneficial holders who are entitled for interim dividend, if declared at the Board Meeting.

Balaji Telefilms - Notice of Postal Ballot

Balaji Telefilms Ltd has informed that the members of the Company will consider to approve by way of Postal Ballot the Special Resolution for the increase in the remuneration of Ms. Ekta Kapoor, Creative Director of the Company on account of the surrender values of the Key Man Insurance Policies to be assigned by the Company to Ms. Ekta Kapoor, the Creative Director, in accordance with the terms of remuneration approved by the members at their meeting held on February 25, 2005, subject to necessary provisions and approvals.

All other terms of appointment of Ms. Ekta Kapoor, the Creative Director, as approved by the members till date shall remain unaffected.

The Board of Directors has appointed Mr. Nilesh Shah, the Practising Company Secretary as Scrutinizer for conducting the Postal Ballot process.

The Postal Ballot form duly completed should reach the Scrutinizer not later than the close of working hours on March 14, 2008.

TCS - Notice of Postal Ballot

Tata Consultancy Services Ltd (TCS) has informed that the members of the Company will consider to approve, by way of Postal Ballot, the following Ordinary Resolution :

1. To increase the existing Authorised Share Capital of Rs 120,00,00,000/- (Rupees One Hundred Twenty Crores only) divided into 120,00,00,000 (One Hundred and Twenty Crores) equity shares of Re 1/- (Rupee One only), each to Rs 220,00,00,000/- (Rupees Two Hundred and Twenty Crores only) divided into 120,00,00,000 (One Hundred and Twenty Crores) Equity Shares of Re 1/ -(Rupee One only) each and 100,00,00,000 (One Hundred Crores) Redeemable Preference Shares of Re 1/- (Rupee One only) each by the creation of 100,00,00,000 (One Hundred Crores) Redeemable Preference Shares of Re 1/- (Rupee One only) each and consequential amendment in the Clause V of the Memorandum of Association and Articles of Association of the Company.

2. To alter the Articles of Association of the Company in the following manner :

(a) Amendment in Article 3 consequent to increase in authorised share capital of the Company.

(b) Inset the Article 5A. Rights attached to Redeemable Preference Shares after the existing Article 5.

3. To create, offer, issue and allot up to 100,00,00,000 (One Hundred Crores) Redeemable Preference Shares of the face value of Re 1/- (Rupee One only) each, at par and for cash, to the promoters of the Company, Tata Sons Ltd, in one or more tranches on a private placement basis and on such terms and conditions including the number of Redeemable Preference Shares to be issued, as may be determined by the Board and that the Board may finalize all matters incidental thereto as it may in its absolute discretion think fit, subject to necessary provision and approvals.

The Company has appointed Ms. Shirin Bharucha, Legal Advisor, as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.


Stock Market off the day’s high.

The market is trading choppy. The large cap stocks managed to trade higher from the opening trade while the significant selling witnessed in the Mid Cap and Small Cap stocks. The Realty, Metal Capital Goods and Oil & gas stocks are the top performers today.The overall market breadth remains negative, as 662 stocks are advancing whereas 1,991 stocks that are declining.

Tata Steel reported the top gainer from the BSE Sensex pack. It is trading higher by (5.41%) at Rs.748.85 while Reliance Communication the top loser trading down by (3.51%) at Rs.555.50.

At 2.31PM BSE Sensex is at 16,850.54 up by 242.53 points and Nifty is at 4,894.80 up by 56.55 points. The BSE Mid Cap is lower by 15.96 points to 7,042.42 and the Small Cap slipped by 152.53 points to 9,021.15.

The BSE Realty index is the top performer today. It is trading with a gain of 475.60 points at 9,518.44. The main gainers are Unitech Ltd up by (17.61%) at Rs.364, Purvankara increased by (2.63%) at Rs.304 followed by DLF and Parsavnath advanced by (2.16%) and (2.06%) to Rs.810 and Rs.262 respectively.

The most active shares on NSE are Reliance trading at Rs.2,385 with a total traded quantity of 3849170 shares followed by Jay Prakash Associates trading at Rs.262.75 with a total traded quantity of 30747027 shares.

City Union Bank Board to consider interim dividend

City Union Bank Ltd has informed that a meeting of the Board of Directors of the Bank will be held on February 22, 2008, inter alia, to consider the following:

1. To consider declaration of interim dividend for the financial year 2007-08 and also for fixation of record date, for the purpose of ascertaining the Members and beneficial holders who are entitled for interim dividend, if declared at the board Meeting.

2. To consider further issue of equity shares subject to the applicant laws and regulations including RBI & SEBI Guidelines.

Post Session Stock Market Commentary

The Indian market closed on an upbeat note backed by heavy buying across the sectoral indices scrips. The market opened with a bang taking the favoring cues from the global markets. The market pared some of its early gains towards the mid session but again gained the momentum towards the final trading hours of the session. The Small Caps remained out of favor as they reported most selling across the counters. The large Caps breached the five-day losing trend to close with hand some gains. From te sectoral front, Metal, Realty, Oil & Gas and Bankex remained the centre of attraction as most buying was seen from these baskets. The BSE Sensex closed higher by 341.13 points at 16,949.14 and NSE Nifty grew by 91.2 points to close at 4,929.45. The BSE Mid Cap closed up by 17.15 points at 7,075.53 while BSE Small Cap indices closed lower by 123.98 points at 9,049.70.

BSE Metal index surged 501.26 points to close at 14,774.31 as Tata Steel 6.72%, SAIL 5.95%, Jindal Steel 5.28%, Gujarat NRE 4.49%, Sterlite Inds 4.46% and Bhushan Steel 4.35% closed higher.

BSE Realty index grew by 386.05 points to close at 9,428.89 as Unitech (14.52%), HDIL (5.57%), Ansal Infra (4.45%), Purvankara (3.14%), Anant Raj (3.01%), Penland (2.02%) closed in green.

BSE Bankex index closed higher by 275.71 points at 10,143.07. Gainers are BOB 6.59%, BOI 5.70%, HDFC bank 4.87%, Cent BOP 3.99%, ICICI bank 3.34%, Kotak bank 3.03%, SBI 2.89%.

BSE CG grew by 268.60 points to close at 15,141.81. Gainers are Thermax Ltd (10.17%), Kirloskar BR (8.30%), BHEL (5.52%), Suzlon Energy (4.62%0, Alstom Projects (3.63%), AIA Engineering (3.44%).

BSE Oil & Gas index advanced by 250.66 points to close at 10,176.98. Scrips that gained are Essar Oil (12.63%), Aban Offshore (3.18%), Cairn India (2.73%), Reliance Inds (2.70%) and Gail India (2.02%).

BSE IT index closed up by 17.91 points at 3,807.89 as Rolta India (5.93%), Satyam Comp (2.82%), HCL Tech (0.88%), TCS (0.48%), Infosys (0.24%), Tech Mahindra (0.24%).

Rajesh Exports - Allotment of Bonus shares

Rajesh Exports Ltd has informed that the Board of Directors of the Company at its meeting held on February 13, 2008, has approved the allotment of 147814000 equity shares of Re 1/- each of the Company as Bonus Shares by Capitalization of the profits to all the shareholders of the Company whose names appeared on the Register of Members of the Company on the record date of February 05, 2008.

Centum Electronics - Joint Venture Agreement with Rakon

Centum Electronics Ltd has informed that pursuant to the shareholders approval received through postal ballot for the transfer of the Frequency Control Products (FCP) Business to a new wholly owned subsidiary, the Company has signed definitive documents to transfer the FCP Business to a wholly owned subsidiary, Centum Frequency Products Pvt Ltd.

Further, the Company, on February 13, 2008, has signed definitive joint venture agreements with Rakon Ltd, New Zealand to manage the subsidiary, Centum Frequency Products Pvt Ltd to design and to manufacture Frequency Control Products (FCP) alongside the Companys existing product lines in Bangalore.

Rakon is a world leader in the development of frequency control solutions for a wide range of applications. Rakon has leading market positions in the supply of crystal oscillators to the GPS, telecommunications network timing / synchronization and aerospace markets.

The joint venture will combine Centums existing design and manufacturing capability for frequency control products with Rakons OCXO design and manufacturing expertise developed and currently undertaken in France.

In this regard the Company has issued the following Press Release:

Centum Frequency Products Pvt Ltd., a wholly owned subsidiary of the Company has entered into a Joint Venture (JV) with New Zealand based multinational Company; Rakon Ltd to design and manufacture Frequency Control Products (FCP) alongside its existing product lines in Bangalore.

Centum Electronics will hold 51% of the JV and Rakon will hold the remaining 49%. The Company will be named Centum Rakon Pvt Ltd.

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Tuesday, February 12, 2008

Stock Market Commentary: Post Session

The Indian market tumbled in the final trading hours of the session to close in the negative territory. Taking the favoring cues from the global markets, the Indian market opened on a firm note but unable to sustain at higher levels and pare all its gains. The volatility gripped the market throughout the trading session. The favoring cues from the domestic scenario like India''s industrial output rose 7.6% in December 2007 from a year earlier, accelerating from the previous month''s downwardly revised 5.1% also failed to hold the gains of the market. From the sectoral front, the bankex stocks remained in the limelight as most buying is seen from these baskets. The Small Caps and Mid Caps were the most hit as they face heavy selling pressures across the counters. The BSE Sensex closed lower by 22.90 points at 16,608.01 and NSE Nifty fell by 18.75 points to close at 4,838.25. The BSE Mid Cap and Small Cap indices closed lower by 161.45 points and 266.42 points at 7,058.38 and 9,173.68 respectively.

BSE Bankex index closed higher by 122.48 points at 9,867.36. Gainers are Axis bank (6.65%), ICICI bank (2.71%), Kotak bank (2.46%), Andhra bank (2.32%), IOB (1.52%).

BSE Metal index closed marginally lower by 1.20 points at 14,273.05 as Welspun Guj (6.38%), Sesa Goa (5.82%) and JSW Steel (3.01%) closed higher while Jindal Saw (4.09%) and Jindal Stainless (3.46%) closed lower.

BSE Realty index dropped by 125.49 points to close at 9,042.84. Losers are Penland (7.93%), Ansal Infra (7.41%), Sobha Dev (3.54%), Indbul Real (3.40%), HDIL (1.75%).

BSE CG plunged by 160.86 points to close at 14,873.21. Scrips that fell are BEML (4.91%), Kalpataru Power (4.36%), Lakshmi Machines (4.12%), Punj Lloyd (3.96%).

BSE Oil & Gas index inched up by 40.52 points to close at 9,926.32. Scrips that gained are Cairn India (5.26%), HPCL (2.20%), Reliance Inds (2.17%) and Gail India (1.09%).

BSE IT index closed lower by 58.18 points at 3,789.98 as NIIT (7.51%), Patni Comp (5.84%), Karut Net (5%) closed lower.

Idea Cellular - Limited Review for the quarter ended Dec 31, 2007

Idea Cellular Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:

Attention is invited to note 4 of the statement. As detailed in the said note, pending the transfer of Telecom licenses of erstwhile Idea Mobile Communications Ltd, BTA Cellcom Ltd and Idea Telecommunications Ltd in the name of the Company, the Company has given effect to the scheme of Amalgamation w.e.f. April 01, 2006 the appointed date. Implications if any, in the event of non-transfer of the licenses are not ascertainable at this stage.

Universal Cables - Change in Directorate

Universal Cables Ltd has informed that Shri. Sushil Kumar Daga and Shri. Shankar Prasad Tamrakar have ceased to be Alternate Directors to Shri. S N Prasad and Shri. Dinesh Chanda respectively w.e.f. January 29, 2008 and they have been re-appointed as Alternate Directors with effect from January 30, 2008 to act for Shri. S N Prasad and Shri. Dinesh Chanda respectively during their absence.

Kirloskar Ferrous Board to consider interim dividend

Kirloskar Ferrous Industries Ltd has informed that a meeting of the Board of Directors of the Company will be held on February 20, 2008, inter alia, to consider the payment of Interim Dividend on Equity Shares of the Company for the financial year 2007 2008.