Stock Picks for today 23 August :-
- IRB BUY ABV 126 TGT 129 SL 125
- JSWSL BUY ABV 730 TGT 740 SL 726(CMP 729)
- Buy HDFC Fut @ 733-734 SL: 730.
- BUY BANKINDIA @ 283-283.5 SL:279 TGTS: 290-292
Major Results Today:
Gillette India, Navneet Pub., P&G, Shree Cement.
News Update:
- A fall in thermal coal prices by 25% in the past few months has helped power generators in India to cut production costs
- The FM cleared a proposal to raise foreign direct investment limit in insurance and pension sectors to 49%.
- NPAs of PSU banks have gone up by nearly Rs110 bn to over Rs1.23 tn at June-end.
- BSNL and MTNL to reduce their workforce by 1,21,000 by offering VRS to staff will cost them over Rs174.45 bn.
- 7 Foreign banks have been given approval to open new branches in the country in 2012 till mid-August, 2012.
- IndiaInfoline is in talks with commodity exchange NMCE’s promoter to pick up part of his stake in the bourse.
- CairnIndia plans to invest $2bn over the next 2 years in oil & gas exploration and production both in India as well as abroad.
- Alstom India bagged a Rs7 bn contract to be implemented alongwith BHEL for supplying power equipment to Nuclear Power Corp.
- Transglobal Securities sold 74,52,261 of Kingfisher Airlines at Rs 9.98 apiece valuing the deal at over Rs74.4 mn.
- Jaypee Group has reached an understanding with CRH to sell 51% stake in its Gujarat cement facility for Rs 42 bn.
- AxisBank joined its larger peers like SBI and ICICI Bank to sell overseas dollar bonds, mopping up $250mn at a coupon of 5.13%
- Kamdhenu Ispat is in talks with PE firms to raise Rs1bn for setting up a plant to produce raw material for paints & WC needs.
- Vedanta Group may spend Rs216bn; 25% more than planned for buying Government's remaining stakes in HindustanZinc & Balco
- Ranbaxy Laboratories has withdrawn 27 drugs from the US market due to commercial reasons.
You can fill the form here on the blog to get free tips on your mobile for next week 27 August - 31st August 2012 and for Tomorrow too 24 August 2012..... Have a Happy Trade!!! :)
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