Market newz 22 april 08

Sensex marked a other then direction what analyst were expecting on monday before opng bell, neglecting the effect of the CRR hike the sensex took its direction from the positive global cues and trded very strongle througout the day ..
The nifty closed well abv the magical figure of the 5000 ,, though the today trade will be favoured by the bears and wall street lost some its gains on account of the bad cues and nos by the bank of america whose profit fell 70% in qOQ basis ,,
Though wall street trading abv 12750 is termed as same as nifty trading abv 5000 mark ..
FII are cvring their shorts and that can be decesively seen from the figures still lots of shorts are pending any jump abv 5090 mark will take huge shrt cvring to be carried out ..

Yesterday nos by RIL were good eneough the profits raised mainly due to refinery margins..
RIL's net profit rose to Rs.3912 crore from Rs.3156 crore, a year-on-year (YoY) growth of 23.95 percent. Reliance Industries chairman and managing director Mukesh Ambani said he sees the company's key investments in oil and gas development and refining to commission this year, and added he expects them to be key drivers to deliver earnings growth in the near future...
At the same time nos from the TCS were not that much good enough and if we compare it to infosys they were not that much encouraging...


Sasken Communication Technology surged 32.62% to Rs 190.90 after its board approved a proposal for buyback of shares from open market at a price not exceeding Rs 260 per share for an aggregate amount of Rs 40 crore.

Shipping Corporation of India rose 9.64% to Rs 241.75 on reports the company may consider a bonus issue in the near future. ..

Dish TV India jumped 17.51% to Rs 64.90 after the company said its board will meet on 24 April 2008 to consider the proposal for raising funds through rights issue. The company made this announcement after market hours on Thursday, 17 April 2008. ..we gv our buy call on dish tv few days back.. hope moneygurus readers got a good profit..

Biocon soared 12.8% of Rs 504.85 after the company said it has scheduled a board meet on 22 April 2008 to consider bonus issue. ..
...

Royal Group of UAE and Netherlands-based GTC Real Estate are in the race to acquire 26% stake in the Delhi-based Raheja group’s engineering SEZ in Gurgaon for Rs 500 crore..

Binani may buy Indonesia mine for over $400 mn ..

CRR hike likely to hit ICICI Bank, SBI most, says Goldman Sachs..
..

Reliance Power Ltd (RPL), part of the Reliance-Anil Dhirubhai Ambani Group (R-Adag), plans to build power plants in Ethiopia through a deal with the local government as part of its effort to grow its presence outside India

Israeli holding company Koor Industries has said it has halted negotiations for buying a stake in Tata Teleservices ..
..

Russian communications major Sistema-controlled Shyam Telecom is learnt to be in advanced talks with Reliance Telecom Infrastructure Ltd (RTIL), Reliance Communications’ hived off tower arm, for a Rs 5,000-crore deal spread over 10 years..

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