India Desperate To Get Into Russian Construction Business

Moscow: India is desperate to get into the profitable construction business, chiefly to build up world-class hotels, in Russia’s Black Sea resort city of Sochi that will host 2014 Winter Olympics.

Indian ambassador Kanwal Sibal allged, “Ahead of the winter Olympics in Sochi we are keen to build world class hotels here and would like to pick local contacts for this.”

Mr. Sibal was speaking at a business gathering during his visit to the Krasnodar Territory in south Russia, which is also called the country’s breadbasket and seaside resort land.

UP’s CM Favors Quota For Poor Among Upper Castes

UP's CM MayawatiNew Delhi: Apparently setting schedule for the forthcoming elective politics at national level, Uttar Pradesh Chief Minister Mayawati proposed reservation for poor amongst Upper castes as also quota in private sector and ‘other sectors’ for SC and ST.

While addressing a press conference, the BSP chief required the Prime Minister to alter the Constitution to set reservation policy in the 9th Schedule, actually in a bid to put a stop to judicial inquiry.

Pratibha Set to become India’s First Woman President

New Delhi: Pratibha PatilIt’s going to be history in the making as UPA-Left candidate Ms. Patil gets set to be first woman president of India.

For the presidential poll, the counting of votes started at 11 am today.

The 72-year-old lawyer from Maharashtra was opposed against Vice President Bhairon Singh Shekhawat.

Pratibha, who was carefully selected by Congress leader Sonia Gandhi, had the support of the governing UPA, the Left and the BSP.

She is likely to get above six lakh votes, whereas Shekhawat is anticipated to get a little more than 3.5 lakh votes in his name.

Godavari Fertilisers & Chemicals Jumps On Fertile Q1 Result

Godavari FertilisersGodavari Fertilisers & Chemicals & Chemicals was locked at 10% upper circuit of Rs 124 after it declared net profit of Rs 12.97 crore in Q1 June 2007. The fertilizer manufacturer announced the results during market hours today. Godavari Fertilizers is the tenth biggest Indian fertiliser company.

During the day, the intraday low of the scrip was Rs 111.25. The total number of shares traded during the day was 7971. The average daily volume of the stock in past one quarter stood at 950 shares.

Bank Of Baroda To Open Four New Branches

Kolkata: Bank of BarodaBank of Baroda is all set to open four novel branches in the eastern region as part of centenary year celebrations. Three of the new branches will be sited in West Bengal and the fourth will be in Assam.

The bank, which also plans to provide a special deposit scheme (with tenure of 24 months) in addition, has a total network of 140 branches in the region, said G. Nagamal Reddy, General Manager.

In March 2007, BoB clocked a business of about Rs 8,300 crore in the east, and anticipates penetrating new customer segments.

Market Ends Flat After Lackluster Trade

Bombay Stock ExchangeAfter touching an intraday high of 15,683.03 and low of 15,524.68, the BSE Sensex finally settled at 15,565.55 after making a gain of 15.42 points, whereas the broad-based NSE Nifty ended at 4,566.05, up 3.95 points.

Fertiliser Scrips In Limelight, RCF Leads Gainers In 'A' Group

Rashtriya Chemicals and FertilisersToday, fertiliser scrips commanded the gainers list. Rashtriya Chemicals and Fertilisers (RCF) zoomed 20% to Rs 54.05 and lead the gainers in ‘A’ group. The company will declare Q1 June 2007 result on 25 July 2007. National Fertilizer, Exide Industries, Fertilisers & Chemicals Travancore and Thermax are among the other gainers.

According to the recent Indian meteorological department’s (IMD) investigation, the monsoon is likely to be average across the country. This does in favor for whole fertilizer segment because sector’s fortune hinges upon the monsoon in the country.

Tech Mahindra Q1 Net Profit Up By 59.7%

Mumbai: FTech Mahindraor the first quarter ended June 2007, Pune-based Tech Mahindra’s consolidated net profit ascended 59.7 per cent to Rs 170.3 crore as compared to Rs 106.6 crore in June 2006.

Income for the same quarter arose by 49.25 per cent to Rs 876.3 crore from Rs 587.1 crore. The company appended four new customers during the same period.

On a sequential basis, earnings from British Telecom, which is company’s major client, diminished to 64 per cent from 67 per cent of total proceeds.

Productive Q1 Result Spurs Godavari Fertilisers & Chemicals To New High

Godavari FertilisersGodavari Fertilisers & Chemicals & Chemicals gained 10% to Rs 124 in afternoon trading after reporting solid gains in first quarter, which stood at Rs 12.97 crore. The fertilizer manufacturer announced the results in market hours today, 20 July 2007.

During the day, the scrip touched a low of Rs 111.25, and 7971 shares were traded on the BSE counter. In the last three months, the stock showed average daily volume of 950 shares on BSE.

The company’s equity capital is Rs 32 crore with 3.2 crore outstanding shares with a face value of Rs 10 per share.

Rising Markets Stimulate Ranbaxy’s Qauterly Income By 118%

Ranbaxy Laboratories Ltd.New Delhi: Actuated by maturation in key emerging markets, India’s leading pharmaceutical company Ranbaxy Laboratories’ net profit for the quarter ended June 30 climbed up 118 percent to Rs 266.2 crore from Rs 122.11 crore in the corresponding period of the last year.

The company’s business in the rising market segments developed 44 per cent in the quarter, adding as much as 54 percent to its worldwide sales.

UNPA Applicant To File Nomination For VP Poll

New Delhi: The Samajwadi Party leader Mohan Singh said that UNPA’s Vice Presidential candidate Rasheed Masood will file his nomination documents today.

He also that that all the UNPA leaders, comprising Telugu Desam Party chief N Chandrababu Naidu, Samajwadi Party president Mulayam Singh Yadav, AGP chief Brindaban Goswami and INLD chief Om Prakash Chautala are expected to be present on the function.

The Vice President poll will took place on August 10.

Market Opens Above 15,600 Mark, Gains Further Strength

Today, the 30-share BSE Sensex opened its eyes at 15,625.63. In early trades, it was trading on a sturdy note supported by strong buying interest in index heavyweights. It also touched a record high of 15,683.03. Stocks from telecom, IT, banking, cement and auto led the advancements.

According to Rahul Agarwal, Vice President, institutional sales, LKP Shares said that 15,500 was a target level. As market covered this level, it is most likely headed in the direction of 16,000 level.

Strong Q1 Figures Take Finolex Cables To New Highs

Finolex CablesFinolex Cables arose 0.66% to Rs 99.50 on recording 41% growth in net earnings in Q1 June 2007. The results were declared in the market hours today 20 July 2007.

In the meantime, the BSE 30-share Sensex was up 90.08 points to 15,639.

The scrip hit an intraday high of Rs 102.4 and an intraday low of Rs 97.6 during the day. It touched its 52 week high of Rs 109.98 on 2 January 2007 and a 52 week low of Rs 49.20 on 24 July 2006.

I’ll Take Two Small Suitcases With Me, Says Abdul Kalam

President A P J Abdul KalamNew Delhi: On Thursday, President A P J Abdul Kalam said, “I will go with two small suitcases” as he set to leave Rashtrapati Bhawan with an aspiration to see India as a highly-developed country by 2020.

In possibly his last communal function as the state head, Kalam had a suggestion for the countrymen – “don't take gifts that come with a purpose and build families with character and good value system.”

P-Sec Recommends Buy for Ashok Leyland

P-Sec is bullishAshok Leyland on Ashok Leyland and maintained buy rating on stock. The stock trades at 9.3x its FY09P earnings.

P-Sec report on Ashok Leyland:

Ashok Leyland reported Q1FY08 slightly below expectations. Topline grew by 14% yoy account of increase in realization of 2.6 % yoy. EBITDA margins increased by 224bps yoy improved realization and regular volume growth.

Bottomline was below expectation due to higher interest during quarter. The stock trades at 9.3x its FY09P earnings.

PTC Achieves a Record High with Fund Recommendation

Today, PTC IndiaPTC India zoomed 10.23% to Rs 98.60, expanding its surge over the past few days.

The scrip hit a high of Rs 104, which is its all-time high, and a low of Rs 90.40 during the day. It touched a 52-week low of Rs 46 on 13 December 2006.

On BSE, there were 50.4 lakh shares for trading on the counter today. During the last three months, the scrip showed an average daily volume of 2.50 lakh shares.

On an average, about 28.93 lakh shares were traded in the last four trading sessions till yesterday, 18 July 2007, when the stock arose aggressively.

Good Numbers for Q1 increase operator activity in L&T

Larsen & ToubroLarsen & Toubro ascended 2.81% to Rs 2,395 in afternoon trading after announcing a 139.83% increase in net earnings in Q1 June 2007 quarter. It announced the quarterly results during market hours today, 19 July 2007.

During the day, the scrip touched an intraday high of Rs 2,420 and an intraday low of Rs 2,350. On 13 July 2007, the stock has had its 52-week high of Rs 2,450 and a 52-week low of Rs 978 on 24 July 2006.

TN To Emerge With Novel Plan For Small And Medium Enterprises

Tiruchirapalli: According to a senior representative that Tamil Nadu government would shortly emerge with a policy on micro, small and medium enterprises.

M Raman, state Commissioner for Industries and Commerce stated that the Cabinet was talking over the draft policy and the declaration is expected to come out within four to six weeks.

The main stress of the policy draft would be to reinforce infrastructure, improve industrial space, perk up credit flow and improve skills, among others, he added.

N Korea Promises To Break Up All Nuke Plans In 6-Months

Beijing: Joint talks on North Korea's nuclear disarmament opened up in an optimistic mood on Wednesday after Pyongyang close down all its five nuclear plants and expressed enthusiasm to come clean on its divisive atomic programme in the coming six months.

Chun Yung Woo, chief negotiator of South Korea said, “North Korea has demonstrated its willingness to disable its nuclear facilities and declare all its nuclear programmes in five to six months.”

MP Assembly Adjourns After Paying Honor To Deceased Leaders

Bhopal: On Wednesday, Madhya Pradesh assembly was adjourned for the day after members paid honor to various deceased leaders, comprising past Prime Minister Chandra Shekhar.

Speaker Ishwardas Rohani ended the House after members observed a two-minute silence as mark of honor to the departed leaders, including Chandra Shekhar, former Delhi chief minister Sahib Singh Verma, state legislators Dilip Bhatere and Prakash Sonkar.

As the House gathered on the first day of monsoon session, Rohani remembered the part of the leaders in political and social fields.

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