Indian equities belled the week on a positive note in line with global peers.

Metal, oil and select capital goods, power segments edged higher this morning, while realty, pharma and IT went down.

BSE Midcap and Smallcap index gained 0.78% and 0.76% respectively as a host of stocks from these segments climbed on keen buying enquiries.

Asian stocks also gained led by higher commodity prices. US plans to shore up the world’s largest economy, a weaker yen boosted the positive sentiments.

Stock market analysts have maintained ‘buy’ rating on Ashok Leyland stock with a short term target of Rs 16.5.

According to analysts, interested investors can purchase the stock on declines with a stop loss of Rs 14.3. If the stock market remains positive in the coming days, the stock pricing becomes more attractive, and reach above Rs 17.5.
 

With the intention to revivify and expand the agro-based industries in Bihar, state-run Hindustan Petroleum Corporation Limited (HPCL) has signed a memorandum of understanding (MoU) with the Bihar State Sugar Corporation Ltd and Bihar government.

The MoU was signed to take over sugar mills situated at Sugauli and Lauriya in East and West Champaran for 60 years lease (that could be extended for another 30 years).

Infrastructure conglomerate Jaiprakash Associates Ltd (JAL) has announced the results for the three month period ended December 31, 2008.

The flagship of Jaypee Group has posted a growth of six per cent (6%) in profit after tax (PAT) for the three month period, which stood at Rs 165.51 crore from Rs 155.8 crore the previous year.

There was an increase by 44.49 per cent to Rs 1,447.12 crore from Rs 1,001.57 crore the previous year in the total inclone of the company for the quarter.

Technology giant LG has recently released its two new budget handsets, the GB110 and the GB106 for its Indian users.

Targeting low to mid range customers, both candybar phones comes equipped with quite a few features.

The new LG GB106 mobile phone, which is cheaper of the two, sports a decent 1.5 inch 65k color screen and has 1.5MB of memory.

The phone also features a built-in FM Radio and a five-way D-pad. Moreover, the users do not require connecting the handset to listen to radio broadcasts on this phone.

BSNL landline phone service would offer a rent rebate to Pune customers whose phones had been dead or faulty for 15 days at a stretch during April 2007 to July 2008.

The Bharat Sanchar Nigam Limited (BSNL) has issued an interim circular to give a “rent rebate” to 22,700 customers whose telephones had gone dead for three or more days in a row. The telephones went dead due to technical faults, and occurred intermittently over a 14-month period.