The wholesale price index (WPI) is very close to the 0% mark. Inflation for week ended March 14 came in at 0.27% — still in positive terrain — compared with 0.44% week on week (WoW).
Earlier, a CNBC-TV18 poll saw inflation at 0.09% versus 0.44% (WoW). Last week, the inflation number for the March 7 week had come in at 0.44%, seeing a drastic fall from the week before, which led experts to predicting a fall below the 0% level in the near future.
WPI for all commodities is up 0.1% at 227 (WoW). January 17 WPI inflation has been revised To 4.95% versus 5.64% provisionally.
Thursday, March 26, 2009
Wednesday, March 25, 2009
Patel Engg bags Rs 799-cr order
Patel Engineering has bagged a Rs 799-crore order for tunnelling work from the Narmada Valley Development Authority. The work involves completing the Sleemanabad Carrier Canal (Bargi right bank canal) of the Bargi Diversion Project from 104 km to 129 km, on a turnkey basis. This would include survey, planning, geo-technical investigations, design, estimation, preparation of permanent land acquisition cases, construction of lined tunnel a nd canal (about 13 km) by excavation and cement concrete lining. The project would be executed in a joint venture with SEW Constructions Ltd and is expected to be completed in 36 months.
Expect flat to negative opening
The market may have flat to negative opening today and may remain volatile before the settlement. A lot will depend on the global cues and if they remain supportive we may see some further up side.
The Nifty has supports at 2860-2880 and resistances at 3020 and 3050.
The Nifty has supports at 2860-2880 and resistances at 3020 and 3050.
Tuesday, March 24, 2009
Wall Street gains on treasury plan; S&P 500 up 7%
The US markets rallied as investors cheered details of the government plan to mop up toxic assets from banks' balance sheet. It is the first time since mid-November that all the three major indices finished up more than 6 percent.
The government is planning to loan private firm’s money to buy up to 1 trillion dollars of bad assets then share in the profit or loss when they are sold at a later date.
The government is planning to loan private firm’s money to buy up to 1 trillion dollars of bad assets then share in the profit or loss when they are sold at a later date.
US Treasury's to mop-up $1 trillion bad assets
The US government is planning to loan private firms money to buy up to USD 1 trillion of bad assets, then share in the profit or loss when they are sold at a later date. The plan is two-pronged. One part will focus on purchasing toxic securities, the other on purchasing bad loans.
Monday, March 23, 2009
See Nifty in 2600-3100 range till elections
Investors are looking to buy beaten down midcap stocks. He said he doesn’t see significant risk appetite for a break out on the upside. He see the Nifty range between 2,600 and 3,100 till elections are over.
Thursday, March 19, 2009
About our Mukesh Ambani
Mukesh Ambani is the Chairman, Managing Director and the largest shareholder of Reliance Industries, India`s largest private sector enterprise and a Fortune 500 company. His personal stake in Reliance Industries is 48%. His wealth is valued at US$20.8 billion (according to Forbes), making him the richest man in Asia.
Mukesh and younger brother Anil are sons of the late founder of Reliance Industries, Dhirubhai Ambani. Mukesh also owns the Indian Premier League team Mumbai Indians.
Mukesh Ambani was educated at Abaay Morischa School in Mumbai and completed his graduation with a bachelor`s degree in chemical engineering from the UDCT. Mukesh later enrolled for an MBA from Stanford University but completed only one year of the two year program. Mukesh Ambani joined Reliance in 1981 and initiated Reliance`s backward integration from textiles into polyester fibres and further into petrochemicals. In this process, he directed the creation of 60 new, world-class manufacturing facilities involving diverse technologies that have raised Reliance`s manufacturing capacities from less than a million tonnes to twelve million tonnes per year.
He directed and led the creation of the world`s largest grassroots petroleum refinery at Jamnagar, Gujarat, India, with a present capacity of 660,000 barrels per day (105,000 m�/d) (33 million tonnes per year) integrated with petrochemicals, power generation, port and related infrastructure, at an investment of Rs 100000 crore (nearly $26 billion USD).
Mukesh Ambani set up one of the largest telecommunications companies in India in the form of Reliance Communications (formerly Reliance Infocom) Limited. However, Reliance Infocom now is under Anil Dhirubhai Ambani Group post the brothers` split. Under him Reliance Retail has also launched a new chain called Delight stores and also signed a letter of intent with NOVA Chemicals to make energy-efficient structures for Reliance Retail. Ambani owns the Indian Premier League team Mumbai Indians.
Achievements
Chosen the businessman of the year 2007 by a public poll in India conducted by NDTV Conferred the United States-India Business Council (USIBC) leadership award for Global Vision 2007 in Washington.
Ranked 42nd among the World`s Most Respected Business Leaders and second among the four Indian CEOs featured in a survey conducted by Pricewaterhouse Coopers and published in Financial Times, London, November 2004.
Conferred the World Communication Award for the Most Influential Person in Telecommunications in 2004 by Total Telecom, October, 2004.
Chosen Telecom Man of the Year 2004 by Voice and Data magazine, September 2004.
Ranked 13th in Asia`s Power 25 list of The Most Powerful People in Business published by Fortune magazine, August 2004.
Conferred the Asia Society Leadership Award by the Asia Society, Washington D.C., USA, May 2004.
Ranked No.1 for the second consecutive year, in The Power List 2004 published by India Today, March 2004.
Recorded as the first Trillionaire in India, June 2007.
Awarded the Chitralekha Person of the Year Award -- 2007 by Gujarat Chief Minister Narendra Modi
Book your Nano, follow these steps
Everyone is waiting with bated breath for the cheapest car, the Nano's launching on March 23. Here’s how you can book your Nano.
Where you can book your Nano
· At any authorised Tata motors dealer
· At a Croma store
· At a Westside outlet
· Bookings can be made online
How to book a Nano
Fill out the Rs. 300 application form
With it, include a 70 per cent-80 per cent deposit of the Nano's price.
Paymment can be made through cheque/demand draft.
Deposit the form from where you bought it, or at any SBI branch
Remember to include an address proof
Voter ID
Passport
Driving license
However, be prepared. Even if you book a Nano you might not get it in the first slot as the allotment will be through a lottery system. Once allotted, the car will be at your doorstep in two months. The only drawback, no one gets more than one Nano.
Wednesday, March 18, 2009
Sensex at one-month high
Key benchmark indices extended gains to hit day's high in mid-morning trade led by buying in metal, banking and realty stocks. The barometer index BSE Sensex breached the psychological 9,000 level as index heavyweight Reliance Industries surged. Overnight rally in US stocks, rally in Asian stocks and buying by foreign funds boosted the domestic bourses. The BSE 30-share Sensex was up 191.86 points, or 2.16% and was near the day's high. The barometer index today hit its highest level in nearly a month.
Expectations of further cut in policy rates by the central bank remain with sharply falling headline inflation.
Foreign institutional investors (FIIs) bought shares worth a net Rs 415.12 crore on Tuesday, as per the provisional data released by the stock exchanges. The substantial buying follows easing of FII selling vigour in the past few days.
But the upside on the domestic bourses will be capped in the next two months due to political uncertainty ahead of parliamentary election to be held between mid-April 2009 to mid-May 2009.
Tuesday, March 17, 2009
Praj Industries secures order worth Rs 20 crore
Praj Industries has received an order for downstream processing equipment from Range Fuels, USA for approximately Rs 20 crore.
The company made this announcement during the trading hours today, 17 March 2009.
The company made this announcement during the trading hours today, 17 March 2009.
Today's market "profit booking"
Market may have flat to positive opening today. Some profit booking is expected after a three-day rally. It may trade in a range and consolidate here before making its next move. The Nifty may see upward momentum again if it manages to trade above 2800.
Supports for the Nifty are at 2700-2730 and resistances are at 2800-2830-2860.
Supports for the Nifty are at 2700-2730 and resistances are at 2800-2830-2860.
Friday, March 13, 2009
Thursday, March 12, 2009
today's gain the Banking, auto shares
Indian equities opened firm today, playing a catch-up with global markets after a two-day break on 10 and 11 March 2009 on account of local holidays. The market surged in early afternoon trade after the latest data showed a sharp fall in inflation which will provide room for the central bank to reduce policy rates further. However, the market soon cut gains as the data showed industrial production declined for the second month in a row in January 2009
Industrial production declined for the third time in fours months in January 2009. Index of industrial production (IIP) declined 0.5% against a upwardly revised 0.6% decline in December 2008, government data released a little while ago showed. Industrial production had risen 6.8% in January 2008.
Inflation based on the wholesale price index (WPI) rose 2.43% in the year through 28 February 2009, much lower than previous week's 3.03% rise, data released by the government today, 12 March 2009, showed. It was the smallest annual rise in inflation since 8 June 2002 when inflation was at 2.18%. Its lowest ever was 1.13% on 2 February 2002. However, the inflation for the year through 3 January 2009 was revised upwards to 5.33% from 5.24%.
Industrial production declined for the third time in fours months in January 2009. Index of industrial production (IIP) declined 0.5% against a upwardly revised 0.6% decline in December 2008, government data released a little while ago showed. Industrial production had risen 6.8% in January 2008.
Inflation based on the wholesale price index (WPI) rose 2.43% in the year through 28 February 2009, much lower than previous week's 3.03% rise, data released by the government today, 12 March 2009, showed. It was the smallest annual rise in inflation since 8 June 2002 when inflation was at 2.18%. Its lowest ever was 1.13% on 2 February 2002. However, the inflation for the year through 3 January 2009 was revised upwards to 5.33% from 5.24%.
Bajaj Hindusthan appoints new director
The board of Bajaj Hindusthan has appointed Sanjeev Kumar as whole-time director of the company with effect from 12 March 2009.
He was appointed at the board meeting held on 12 March 2009.
He was appointed at the board meeting held on 12 March 2009.
Monday, March 9, 2009
Friday, March 6, 2009
Dewan Housing Finance capitalises on rights issue plan
Dewan Housing Finance Corporation jumped 5.93% to Rs 50 at 14:59 IST on BSE, having recovered from the session's low of Rs 45.10, after the company said its board approved raising upto Rs 105 crore by way of issuing equity shares on rights basis.
out look for todays trade
Daily trend of the market is down.
Inspite of Repo, Reverse Repo cut the markets are unable to move up as over all trend is down. Let us see whether the ECB rate cut today is able to give some boost to the market, but it is doubt as sentiment and confidance is too low. On top of it the statement of bankruptcy by General Motors would also weigh on the market.
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Inspite of Repo, Reverse Repo cut the markets are unable to move up as over all trend is down. Let us see whether the ECB rate cut today is able to give some boost to the market, but it is doubt as sentiment and confidance is too low. On top of it the statement of bankruptcy by General Motors would also weigh on the market.
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Wednesday, March 4, 2009
Monday, March 2, 2009
mid day market "Bears in command"
Bears continued to rule the roost in afternoon trade. The BSE 30-share Sensex was down 216.26 points, or 2.43%. Weak global markets weighed on the domestic bourses. Trading in US index futures indicated the Dow could slide 93 points at the opening bell on Monday, 2 March 2009, also weighed on sentiment.
Yet, the market was off the day's lows as fears of heavy selling by foreign funds eased to some extent as a report showed neither foreign institutional investors' (FIIs) nor domestic funds' selling had pulled the market lower at the onset of the trading session. Sensex was off close to 30 points from the day's low.
Banking, IT and metal stocks led the decline on the domestic bourses today, 2 March 2009. Index heavyweight Reliance Industries (RIL) was down after its board approved a swap ratio for merger of Reliance Petroleum (RPL) with the company, with the merger ratio being more favourable to RPL. But auto stocks gained on jump in February 2009 vehicle sales of Maruti Suzuki and Hero Honda Motors.
Yet, the market was off the day's lows as fears of heavy selling by foreign funds eased to some extent as a report showed neither foreign institutional investors' (FIIs) nor domestic funds' selling had pulled the market lower at the onset of the trading session. Sensex was off close to 30 points from the day's low.
Banking, IT and metal stocks led the decline on the domestic bourses today, 2 March 2009. Index heavyweight Reliance Industries (RIL) was down after its board approved a swap ratio for merger of Reliance Petroleum (RPL) with the company, with the merger ratio being more favourable to RPL. But auto stocks gained on jump in February 2009 vehicle sales of Maruti Suzuki and Hero Honda Motors.
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