India Business

Bank Credit Jump 23.7% As On Jul. 20

As on Jul. 20, 2007, the credit paid out by listed commercial banks developed 23.7% (Rs 3,663.49 billion) on a year-on-year basis that is beneath the increase of aggregate deposits of 24.4%.

Markets To Deal In A Range With An Unconstructive Bias On Monday - Brokers Viewpoint

Karvy Stock Broking Ltd.Sachin Chandsarkar, senior dealer, Karvy Stock Broking, said that today stock market rested explosive because of short covering. NSE Nifty arose 50 points to 4,425, where nonstop selling pressure took place. Major performers comprise Titan Industries, Suzlon and Voltas.

Nifty based stocks saw less interest from dealers. There was no effort envisioned in stocks of Reliance Group. Because of good dispatch numbers by cement companies, buying was seen in ACC and Gujarat Ambuja.

Buy IFCI, India Cements for Short Term

IFCI LimitedSharmila Joshi of Asit C Mehta advocates that IFCI and India Cements are brilliant stocks, and investors can make quick gains once they invest in both at lower levels.

Joshi told, "IFCI and India Cements are buys and one of the reasons why IFCI corrected sharply was the fact that you suddenly had this news item that they would maybe reconsider their stand of selling the stake at all and the whole down turn that one saw was because of that because the results have been strong and the stock has been buzzing on back of this news. If it resurfaces and if gets confirmed then there is a good upside to IFCI."

Unitech’s Support Level at Rs 550

Rahul MohindarUnitech said that ‘Unitech’ has support at Rs 550.

Mr. Mohindar said: “Real estate and infrastructure these are –these are spaces that we linked. On declines we are looking at buying opportunities. We have been commending Unitech for some time, Rs 620-650. Those are the medium term and long term targets respectively. I think the intra-day correction that we have seen today is really an opportunity to buy. There is very big support at about Rs 550 for this stock. So, Unitech would be one, which we will pick in real estate.”

India Can Achieve 10% Growth In 2008-09: P. Chidambaram

Union Finance Minister P. Chidambaram

Forex Reserves Up $937 Mn, Touches $213.5 Bn

Forex TradingOn the back of rise in foreign currency and assets collections, Forex reserves soared

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