Info Edge IPO allotment status is out and can be checked here

• Author: Ganapathy
• Filed under: Uncategorized
• Date: Nov 15,2006

InfoEdge IPO allotment status is out and can be checked here

Welspun Gujarat Secures order worth 4.6 billion ruppes

• Author: Ganapathy
• Filed under: Company News
• Date: Nov 15,2006

Steel pipes maker Welspun Gujarat . said on Wednesday it had secured an offshore pipeline order worth 4.60 billion rupees from Exxon Mobil Corp..The company expects to execute the order for the 120-kilometre pipeline by 2007. Its order book stands at about 25 billion rupees, it said.

BSE sensex ended with a little gain – Bankex raised by almost more than 2 %

• Author: Subramanian
• Filed under: Bank, india
• Date: Nov 15,2006

The BSE Sensex ended with modest gains today, and touched record closing high.Not sure if US stocks and a steep fall in US core producer prices whihc helped the market becasue based on this the fed may decide if they want to increase the rate or not .Sensex gained 43.87 points, to settle at a lifetime closing high of 13,469.37.

BSE banking sector index Bankex hit an all-time high.Bank shares surged due to easing interest rate worries, and as 10-year bond prices scaled a six-month high on Wednesday. State Bank of India jumped 4.6% to Rs 1,179. The stock also struck a record high of Rs 1,184.40.ICICI Bank gained nearly 3% to Rs 880. .

BSE Auto 5327.35 6.33
BSE Bank 7060.23 196.21
BSE Cap Goods 8813.53 20.50
BSE FMCG 2042.58 5.13
BSE Health 3806.29 5.57
BSE Metal 8972.21 6.22
BSE Midcap 5594.08 6.32
BSE Oil & Gas 6217.06 50.60
BSE PSU 6138.47 49.04
BSE Small Cap Index 6501.62 21.66
BSE TECk 3425.28 9.92
CNX Midcap 100 5037.00 13.65

Those Bolded closed in green others closed in Red.

Mutual Fund : HSBC Capital Protection Series 1 and series 2 files for DHRP with Sebi

• Author: Ganapathy
• Filed under: Mutual Fund
• Date: Nov 14,2006

HSBC Capital Protection Series 1 & 2 files for DHRP with Sebi in the row of capital protection Mutual fund HSBC has also filed with sebi for thr part in the Pie.It has been Rated AAA (SO) by Crisil.
Fund Details :
The New Fund Offer is for a close-ended capital protection oriented Scheme viz. HSBC Capital Protection Series 1, for a fixed term of 3 years from the date of allotment. The Plan will comprise a portfolio of securities normally maturing in line with the term of the Plan and equity & equity related securities. The New Fund Offer is for issue of Units for cash plus applicable load, if any. The AMC and the Trustees reserve the right to introduce such further Plans of varying durations as deemed necessary from time to time, in accordance with SEBI Regulations.
The New Fund Offer for HSBC Capital Protection Series 1 will commence from ______, 2006 and close on _____, 2006. The New Fund Offer for HSBC Capital Protection Series 2 will commence at any time within six months from the date of the SEBI clearance letter for the Offer Document. Information with respect to the New Fund Offer for HSBC Capital Protection Series 2 will be communicated to the investors / prospective investors by a notice displayed at the Investor Service Centres and issue of advertisements in 2 newspapers.

HDFC Multiple Yield Fund-Plan 2005 declares dividend

• Author: abhisheak
• Filed under: Mutual Fund
• Date: Nov 14,2006

HDFC Mutual Fund has declared a dividend of 7.5% for individual and HUF and 6.99% for others, per unit of face value of Rs.10, under the dividend option of the HDFC Multiple Yield Fund-Plan 2005.The fund house has fixed 16 November 2006,

Rights issue of Birla VXL Limited (Scrip Code 503796)

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 14,2006

Birla VXL Limited with bsecode of 503796 as fixed record date of 28/11/2006 for the rights issue in the basis of FOUR Equity Shares of Rs.10/- each for cash at par on rights basis for every SEVEN existing equity shares held. so it becomes Cum right from 20/11/2006 and Ex right from 21/11/2006.

Shri Bal kishan Agarwal Glass Industries Limited IPO ( BK Glass ipo)

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 14,2006

Shri Bal kishan Agarwal Glass Industries Limited or simply called as BK Glass files for DHRP with sebi. The Company is managed by Promoters & Directors, well experience for decades in the field of glass manufacturing, employing experienced professional in various disciplines, enjoying a reputation of reliable quality products supplier.
It was incorporated in the year 1990 as a Private Limited Company. The manufacturing facility is located at Firozabad, which is main centre for glass ware in the country. It started with production of Glass Tumblers initially with a 30 MT per day capacity furnace and three MDP machines with feeder fed automatic process in the year 1991. Over the years, the company progressively expanded the capacity to 65 MT per day with 8 MDP machines by producing complete range of press ware until the year 2003.

They are the manufacturer of various transparent glass products for various utilities and also planning to export those items.They manufacture Glass Products including Press & Thin Glass Tumblers, Domestic and Industrial Bottles & Bowls, Handicraft and Gift Articles in different shapes and sizes, on a very high scale.Thr fully automatic machines have the capacity to make Press & Thin walled tumblers of all shapes & designs ranging from 6 oz to 16 oz capacity.

Indian Bank IPO to hit the market in 2007 first QTR

• Author: Subramanian
• Filed under: Bank, IPO
• Date: Nov 14,2006

Indian Bank IPO may tap the capital market with an initial public offering (IPO) sometime in the first quarter of 2007.
As on September 30 this year, Indian Bank’s total business crossed Rs 70,000 crore. Net profit of the bank for the six-monthperiod ended September 30, stood at Rs 334 crore, which represented a 37.94 per cent increase on year-on-year basis.

Sobha Developers Ltd IPO Fixes price band at rs 550 to rs 640 per share

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 14,2006

The Bangalore-based Sobha Developers Ltd (SDL) is coming out with a public issue of 88,93,332 equity shares of Rs 10 each through book building process in the price band of Rs 550-Rs 640 per share.The issue comprises a reservation of up to 8,89,300 equity shares for SDL’s permanent employees and a net issue to the public of 80,04,032 equity shares. It constitutes 12.20 per cent of the post-issue paid-up capital of the company.
The issue opens for subscription on November 23 and closes on November 29.Out of the net issue, at least 60 per cent would be allocated on a proportionate basis to FIIs and domestic Qualified Institutional Buyers.
About 10 per cent of the total issue will be available for allocation on a proportionate basis to non-institutional bidders and 30 per cent will be available for allocation on a proportionate basis to retail individual bidders.

BSE Sensex hit another all time high in a oscillating

• Author: Ganapathy
• Filed under: india
• Date: Nov 14,2006

Today when the market opened the market was in good high and also during noon it was touching the all time high of 13,486.74, but BSE Sensex gained 26.50 points (0.20%), to end at 13,425.50, a lifetime closing high. it ws just oscillating for 106 points.

DLF IPO going to file for DHRP by december end.

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 14,2006

India’s largest real estate developer DLF – DLF IPO will file fresh draft prospectus by December end, according to sources. The allotment of debentures will be done to DLF minority shareholders by December.May be they want a pie of infrastructure IPO boom .They might hit the market before this year ends.

Mawana Sugars announces 2006 Q4 results with a huge loss

• Author: kalyan
• Filed under: Results
• Date: Nov 14,2006

Mawana Sugars has announced its Q4 results. Its net loss is at Rs 11.4 crore vs profit of Rs 8 crore. Its net sales are at Rs 84.2 crore vs Rs 122 crore.Its operating loss is of Rs 12 crore vs profit of Rs 13 crore.

Tata Consultancy Services won a 100 million dollar order from Kimberly-clark

• Author: Ganapathy
• Filed under: Company News, Technology
• Date: Nov 14,2006

Top Indian software services exporter, Tata Consultancy Services Ltd has won a $100 million contract from U.S. firm Kimberly-Clark Corp a source close to the transaction told Reuters on Tuesday.

Shree Renuka Sugars announces 2007 Q2 results

• Author: kalyan
• Filed under: Results
• Date: Nov 13,2006

Shree Renuka Sugars has announced a 8.89% rise in net profits for the quarter ended September 30, 2006.During the quarter, the company`s net profits increased to Rs. 90.91 million compared with Rs. 83.49 million in the corresponding quarter.
Net sales for the quarter rose 9.07% to Rs. 2.389 billion compared with the corresponding quarter, a year ago.Total income for the quarter rose 8.87% to Rs. 2.394 billion compared with the corresponding quarter, a year ago.EPS for the quarter declined to Rs. 4.07 compared with Rs. 4.31, a year ago.
Shree Renuka Sugars has recommended a final dividend of 20% (i.e. Rs 2 per share) on the equity shares of the company for the year ended September 30, 2006.

Mutual Fund Updates : Tata Select Equity Fund pays dividend of 2.5 per unit

• Author: abhisheak
• Filed under: Mutual Fund
• Date: Nov 13,2006

Tata Asset Management Ltd. on Monday said it would pay a dividend of Rs 2.50 per unit in its Tata Select Equity Fund and has fixed November 17 as the record date.

Company News : Nagarjuna Construction , L&T , PBA infra , IVRCL all bags some or other orders.

• Author: Ganapathy
• Filed under: Company News
• Date: Nov 13,2006

>Nagarjuna Construction Company Ltd on Monday said it has bagged two orders worth Rs 226 crore from the Andhra Pradesh government and the Central Public Works Department.
>Engineering giant Larsen & Toubro (L&T) said on Monday that it has signed an agreement with the Japanese conglomerate Mitsubishi Heavy Industries Ltd (MHI) for technology transfer of supercritical boilers used in coal-fired power plants.The investment in the venture would be about Rs 450 crore, and the two companies might form a joint venture, L&T informed the BSE. this will help them in increasing more projects where they would be using this technlogy abnd thus reducing the cost using the technology shared.
>Subash Chandra-promoted Zee Telefilms on Monday announced acquisition of 50 per cent stake in Dubai-based Ten Sports for Rs 256.5 crore as part of efforts to cement its position in sports broadcasting business.
>PBA Infrastructure Ltd said on Monday that it had won two road project orders worth Rs 101 crore from the Jammu and Kashmir government.
>Construction firm IVRCL Infrastructures and Projects Ltd (IVRCL) said on Monday that it had secured new orders worth Rs 343 crore $76.4 million). They included projects for environment improvement in Kolkata, water supply in Bangalore and power t ransmission in the eastern state of Bihar, the company said in a statement.
>Nitco Tiles Ltd on Monday said it has entered into a second contract manufacturing arrangement (CMA) with China-based Foshan Lungo Ceramics for a period of three years.

Raj Television Network IPO – Updates

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 13,2006

Raj Television Network plans to raise Rs 1 billion through its initial public offering, IPO. The issue proceeds will be used for launching a niche youth channel, producing telefilms, distribution of TV channels in overseas markets, creating a studio facility, strengthening existing content, and exporting films, reports Indiantelevision.com.

Puravankara Projects IPO plans rs 1250 crore

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 13,2006

Puravankara Projects IPO is planning to join the realty IPO bandwagon. The Bangalore-based developer is expected to hit the capital market in a couple of months to raise Rs 1,250 crore through an initial public offer, IPO.Think based on the success of parsvnath Builders IPO there might be lot of Infrastructure ipo’s coming in .

BseIndia and Nseindia sensex and Nifty hit yet another new high

• Author: Ganapathy
• Filed under: india
• Date: Nov 13,2006

So the market was up for the seocnd day ina row today after friday , rally in bse30 index and blue chip stocks triggered a 116 point rally , so again Nse india and Bseindia clocked a new high.The 30-share BSE Sensex jumped 116.09 points (0.87%), to settle at 13,399, a lifetime closing high. The BSE Sensex also hit 13,410.08, which is an all-time high for the scrip.Market was supported by FII and also good earnings from the companies.The S&P CNX Nifty rose 24 points (0.63%), to end at 3,858.75, a lifetime closing high.
> Infosys rose 1.2% to Rs 2,165.30. The stock reached Rs 2,170, a lifetime high for the scrip.Think the ADR issue also would have supported it , even i recieved a letter from infosys regarding that , dint go thru it fully.
>Bharti Airtel rose 4.6% to Rs 569.10. The stock hit Rs 570, an all-time high for the scrip. It may be because of the Bharti Airtel and Microsoft Corporation, to offer software and other services to small and medium scale businesses in India.
> Reliance Communications (RCL) rose 3% to Rs 403.50. The stock also hit Rs 404.40, a lifetime high for the scrip. This might be because of the joint aggrement between RCL and state-run BSNL, for the access of 1-800 numbers or toll free numbers provided by either operator.
> Reliance Industries (RIL), hmm dint see any spark in reliance if that would have happen then may be it would have toched a 200 point raise.The stock was flat at Rs 1,287.15.

Record Date and Dividend Info Furnished with BSEIndia For coming weeks

• Author: abhisheak
• Filed under: Bonus, BookClosure, Dividend
• Date: Nov 13,2006

Binani Industries – Binani Cement Ltd IPO files for DHRP

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 13,2006

Binani Cement Ltd (BCL), a subsidiary of the Binani Limited has filed a draft red herring prospectus (DRHP) in connection with the public offer of 20,500,000 equity shares of Rs 10 each of BCL through an ‘Offer for Sale’ by JP Morgan Special Situations (Mauritius) Ltd on November 10, 2006.

Indus Fila planning for Indus Fila IPO or for a Private Equity

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 13,2006

The Bangalore-based apparel maker and exporter Indus Fila is planning to tap the capital market to raise money to part fund its Rs 180-crore expansion programme. The company has plans to double its capacity on all fronts in the next 18 months.It is getting ready to file DHRP with SEBI or it might just go in for a Private equity .

Dividend – ICSA (India) Ltd infrorms interim dividend of 12 per cent

• Author: abhisheak
• Filed under: Company News, Dividend
• Date: Nov 13,2006

ICSA (India) Ltd has announced that its board of directors has recommended an interim dividend of 12 per cent on the back of good second quarter results.
>And also has bagged an order worth Rs. 17.65 crore from Kerala State Electricity Board.

Mutual Fund Updates – Franklin India Prima Plus Pays dividend and new fund Lotus India Liquid Fund

• Author: abhisheak
• Filed under: Mutual Fund
• Date: Nov 13,2006

>Franklin Templeton Investments announced a tax-free dividend of Rs 6 per unit in its fund Franklin India Prima Plus. The record date for the same is November 15.
>Lotus India Mutual has launched its maiden scheme – Lotus India Liquid Fund. to invest in a liquid portfolio of money market instruments, government securities and corporate debt,open from November 13-16.

Lanco infratech IPO retail oversubscibed by 2.50 times

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 11,2006

Qualified institutional buyers : 18.48
Non institutional investors : 1.68
Retail individual investors : 2.48
Employee Reservation : 1.05
Total oversubscribed by : 11.88

Parsvnath Builders IPO retail subscribed by 10 times

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 11,2006

Parsvnath Builders IPO Subscription details
Qualified institutional buyers : 81.45
Non institutional investors : 100.43
Retail individual investors : 10.94
Employee Reservation : 2.67
Total oversubscription at : 61.84 times

So BSEINDIA and NSEINDIA settles at a lifetime High

• Author: Ganapathy
• Filed under: india
• Date: Nov 10,2006

The BSE Sensex surged 145.42 points (1.11%), to end at 13,295.36. This is also its all-time closing high, the low for the day being 13,104.98.See the volatality that happened today , i took a good chance of booking some profit in Jain irrigation , ADLABS and some more shares.
>Index heavyweight Reliance Industries (RIL) surged 2.13%, to Rs 1,288.25
BSE Sectoral Indices Close Change %
AUTO 5,323.64 20.69 0.39
BANKEX 6,736.57 159.7 2.43
CD 3,263.56 31.54 0.98
CG 8,831.19 133.12 1.53
FMCG 2,072.54 1.02 0.05
HC 3,766.08 34.38 0.92
IT 4,859.29 9.58 0.2
METAL 9,220.00 86.06 0.94
OIL&GAS 6,264.08 77.42 1.25
PSU 6,051.31 51.73 0.86
TECk 3,332.97 15.52 0.47

IVRCL Prime IPO – It can be either IPO or Private Equity

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 10,2006

IVRCL Infrastructure and Pojects, Mr Sudhir Reddy says, they are looking at raising money via IVRCL Prime IPO and expect to have a topline of Rs 160-170 crore, and bottomline of Rs 40 crore.It can be any one IPO or Private Equity plan.

Company news – Simplex infra and Punjab Lloyd Bags Order

• Author: Ganapathy
• Filed under: Company News
• Date: Nov 10,2006

>Simplex Infrastructures Ltd has informed the BSE that the company has secured a contract worth Rs 212.11 crores from Delhi Metro Rail Corporation Ltd.
>Punj Lloyd Ltd on Friday said it has bagged an order valued at Rs 803.70 crore from Qatar Petroleum for a gas pipeline project.

Rights issue IPO : Gujarat NRE Coke – Gujarat NRE Mineral Resources Ltd

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 10,2006

To part finance the cost of acquisition, future development and exploration of oil and gas blocks it acquired in the Canning Basin, Western Australia, through its wholly-owned subsidiary NRE Resources Pty Ltd, Gujarat NRE Mineral Resources Ltd (GNMRL) is going in for a rights issue.
Issue Detail
To issue two million equity shares
>5,000 equity shares for every shareholder as on the record date of October 27 2006.
>Issue price per equity share of Re 1 Each.
>Premium of Re 1 per share

Dividend : Torrent Power Ltd – declared results and 12 % dividend

• Author: abhisheak
• Filed under: Dividend, Results
• Date: Nov 10,2006

Torrent Power Ltd, the umbrella company of the newly amalgamated generation, transmission and distribution businesses of the Torrent Group, has announced its maiden financial results for the 18 months ended September 30, 2006. It has registered a profit after tax of Rs 179 crore and declared a dividend of 12 per cent per share.

Parsvnath IPO and Lanco Infratech IPO Subscription detail.

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 10,2006

Parsvnath IPO receives the best response; Oversubscribed for whooping 54 times
Lanco Infratech IPO oversubscribed 11.5 times
More info on the Retail subscription detail will be published tomorrow.

Blue Bird IPO (India) opens on Nov 16th and closes on Nov 22th 2006

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 10,2006

Blue Bird (India) IPO, a leading manufacturer of paper-based notebook and stationery products with the highest market share of 48% amongst large, organised players in India, is entering the capital market with a public issue of 87,75,000 equity shares of Rs 10 each for cash at a premium to be decided through the 100% book-building process, as pre press release.The price band for the issue has been fixed at Rs 90 to Rs 105. The issue opens for subscription/bids on November 16, 2006 and closes on November 22, 2006.

Mutual fund – Prudential ICICI Equity and Derivatives fund

• Author: Ganapathy
• Filed under: Mutual Fund
• Date: Nov 10,2006

Prudential ICICI AMC today unveiled Prudential ICICI Equity and Derivatives fund, an open-ended equity scheme. It aims to generate low volatility returns by investing in cash equities, equity derivatives and debt markets.The new fund offer closes on December 7.

Bonus Announcement – Tera Software announces 1:4 Bonus

• Author: Geetha
• Filed under: Bonus
• Date: Nov 9,2006

Tera Software Ltd has informed the BSE that the members at the AGM of the company have authorised to allot one equity share of Rs 10 each for every four equity shares of Rs 10 each fully paid up held by the members as fully paid bonus shares.

Dividend – Usha International Ltd has announced 125 percent dividend.

• Author: abhisheak
• Filed under: Dividend
• Date: Nov 9,2006

Usha International Ltd has informed the BSE that the board of directors of the company has declared interim dividend at the rate of 125 per cent. Further the company informed that November 23, 2006 has been fixed as the record date (RD) for the p urpose of above said dividend payment.

Results Declared Today – Cybertech and ITDC

• Author: kalyan
• Filed under: Results
• Date: Nov 9,2006

Cybertech Systems & Software swings to profit in Sep`06 qtr
India Tourism Development Corp. swings to profit in Sep`06 qtr

Financial Technologies IPO – QIP – They are trying to Fund for thr expansion.

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 9,2006

Financial Technologies is looking for merger and acquisition opportunities and plans to raise $ 200 million through equity to fund its expansion, if any, in the next 6 to 7 months, said Mr Jignesh Shah, Chairman and Managing Director, Financial Technologies and MD and CEO, Multi Commodity Exchange.
Think they are waiting for the Government and Sebi to clear the proposal and bill which will allow for the FII to invest money in commdites market and MCEx.

Parsvnath builders IPO and Lanco Infratech IPO Bidding details

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 9,2006

Parsvnath Builder IPO is still in the race by subscribing totally more then 13 times and lanco infratech IPOby mere 4.67 times , will see the final bidding details tomorrow night .
Source : Web

Celestial Labs IPO – to enter the capital market – but crisil rating of 1 for 5

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 9,2006

Celestial Labs IPO proposes to enter capital market with a public issue of 50,00,000 equity shares at a targeted price of Rs 60 per share aggregating Rs 300 million, as per press release.Same as below hotel IPO the crisil rating for this 1 out of 5 whihc is considered as a bad rating.

Bhagwati Banquets and Hotels IPO – crisil Rating of 1 for 5

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 9,2006

Bhagwati Banquets and Hotels IPO proposes to enter capital market with a public issue of 23 million equity shares at a target price of Rs 30 per share aggregating Rs 690 million, as per press release.
Crisil has assigned a CRISIL IPO grade 1/5 grade to the proposed initial public offer, IPO of Bhagwati Banquets and Hotels, BBHL. This grade indicates that the fundamentals of the issue are poor relative to other listed equity securities in India.

Bharat Hotels IPO – soon in the pipeline

• Author: Ganapathy
• Filed under: IPO
• Date: Nov 9,2006

Bharat IPO is soon in the pipeline – A decision to raise funds by way of a private placement or an initial public offering, IPO will be taken by the Bharat Hotels Group within the next 3-4 weeks, according to Ms Jyotsna Suri, chairperson and managing director of Bharat Hotels Group, reports The Hindu Business Line.

Sensex – Bseindia – Market closed on a firm note – supported by global market.

• Author: Ganapathy
• Filed under: india
• Date: Nov 9,2006

Today market opened on a postive note and so very good gain but lostsome gain in the end , still closing the day on a firm note Bank, FMCG stocks supported the Upward swing in the market.The Sensex ended at 13137 & the Nifty at 3796 points, both up 0.5%.

TCS and Satyam and oracle wins Qantas Order

• Author: Ganapathy
• Filed under: Technology
• Date: Nov 9,2006

Out of the whole order details TCS shares 90 million us $ for 7 years and oracle wins 30 million us $ and Satyam wins 40 million US $ all the order will span over 7 years.The contract is for the Applications Services & Transformation (AST) outsourcing program launched by Qantas and it is the largest single contract awarded to an Indian outsourcing company in Australia to date.

Democrats win the Snate and the house – Wall street Update for elections

• Author: Ganapathy
• Filed under: World Market
• Date: Nov 9,2006

Americans have answered like tamilnadu this year in the US mid term elections 2006 Democrats have won both the senate and the house , which is infact good news for the Wall Street whihc has advanced for a third straight session on Wednesday, with dow jones setting a new closing high. Driving stocks was confidence that a victory by Democrats in congressional elections would result in political gridlock, and likely prevent any major changes that could hurt businesses.Think you guys understand why its postive news for the Stock market , because its just 2 more years and they go to poll again that being the case they will try to prove them selves both are good and they will not disturb any reforms or business so they can win the next poll that will add value to the business and the stock market.
Dow Jones industrial average rose 19.77, or 0.16 percent, to 12,176.54.
Standard & Poor’s 500 index rose 2.88, or 0.21 percent, to 1,385.72.
Nasdaq composite index rose 9.06, or 0.38 percent, to 2,384.94.

US Midterm election 2006 – Whats in there for India

• Author: Ganapathy
• Filed under: World Market
• Date: Nov 9,2006

Democrats take over the House and most proabably the Senate also , if that happens it will be very tough for BUSH.
Some priorities set by Democrats if they are in power are as follows.
Military: Force an immediate drawdown of troops in
Iraq and conduct oversight hearings on missteps on the war. The announcement Wednesday that Defense Secretary Donald Rumsfeld was resigning met Democratic demands that he step down to take responsibility for the situation in Iraq.
Intelligence: Increase attention given to emerging terrorist threats in Africa and Southeast Asia and devote more resources to North Korea and Iran. More oversight of terrorism and government surveillance.
Homeland security: Boost security for rail and mass transit systems. Tougher oversight of the Department of Homeland Security, potential restructuring of the
Federal Emergency Management Agency.
Judiciary: Conduct oversight hearings on treatment of terrorism detainees, domestic surveillance programs and President Bush’s use of “signing statements” affecting some requirements in the laws he signs.
Minimum wage. Pass legislation to raise the minimum wage from the current $5.15 an hour to $7.25.
Veterans affairs: Increase oversight with detailed budget accountings. More funding for veterans’ health care, including additional mental health counseling for vets returning from Iraq and Afghanistan.
Health: Allow the Medicare program to negotiate directly with drug companies for lower prices. Pass a vetoed embryonic stem cell research bill again. Require insurance companies to provide benefits for treating mental illnesses equal to other medical and surgical benefits.
Transportation: Consolidate air traffic control facilities. Allow more foreign control of airlines. Limit the number of Transportation Security Administration airport screeners to 45,000. More oversight hearings on the
Federal Aviation Administration.
Taxes: Increase education-based tax breaks. Close the so-called $345 billion tax gap, the estimated amount that people and companies owe but avoid paying each year.
Trade: Let a law expire that forbids Congress from amending trade agreements negotiated by the president. Create a chief enforcement officer in the office of the U.S. trade representative.
Energy and environment:Increase incentives for biodiesel, ethanol and other alternative fuels as well as wind, solar, geothermal and other sources of alternative energy. Renegotiate oil and gas leases that waived royalty payments to the government. Impose a national cap on industrial carbon dioxide emissions. Resist Bush’s efforts to open more public lands to oil exploration.
Agriculture: Increase conservation programs and require more corn-based ethanol in motor fuel blends.

so from all this we have to see what happens to our Nuclear Deal that is to go to senate on november 16th or 17th .
On the IT front have to see what happens to all those works that are coming to india , think IT company has to be on the watch now for another month or so and see no new bill affects the company.
For sugar company i see some relief as democrats support new form of fuel like ethanol.
Bad for indian DRUG stocks which are doing business in US

Results Declared Today

• Author: kalyan
• Filed under: Results
• Date: Nov 9,2006

Artson Engineering`s net rises 14.26% in Sep`06 qtr
ICSA net jumps 4.41 times in Sep`06 qtr
Rayban Sun Optics Q2 net zooms 1.08 times
Mysore Paper Mills swings back to profit in Sep`06 qtr
Shree Ganesh Forgings Q2 net up 3.08 times
Empower Industries Q2 profit falls 95.72%
Ansal Buildwell Q2 net zooms up by 10.24 times

Reliance Communication to launch Video Streaming Tomorrow

• Author: Ganapathy
• Filed under: Reliance
• Date: Nov 8,2006

Reliance Communication is going to reach another milestone by launching video streaming tomorrow to all thr million subscribers , ADAG’s Reliance Communications Ltd (Rcom) will tomorrow launch online video streaming on mobile phones, a service that would allow the company to mobile cast events to all its subscribers.
The launch will be kickstarted by a mobile cast of Microsoft CEO Mr Steve Ballmer’s keynote address, which can be viewed by millions of Reliance mobile customers across the country, the company sources said.

Kpit Cummins Infosystems – Bonus and Stock split details

• Author: Geetha
• Filed under: Bonus
• Date: Nov 8,2006

Kpit Cummins Infosystems Ltd has informed the BSE that the board of directors has approved 1:1 bonus issue, i.e. one bonus equity share for each equity share held in the company, and stock split from existing par value of Rs 5 per equity share to Rs 2 per equity share.

Mutual Fund – SBI Capital Protection Fund , SBI Debt Fund Series and more

• Author: Ganapathy
• Filed under: Mutual Fund
• Date: Nov 8,2006

On 08-Nov-2006
SBI Capital Protection Fund – Series I
and SBI Debt Fund Series
and ABN Amro Dual Advantage Fund
and OptiMix Multi Manager Equity Fund
files for Draft prospectus with SEBI , out of this 4 i feel SBI Capital Protection Fund should be pretty inpressive , will see when it comes out.