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May 17, 2010 by | No Comments
Renuka Sugars may pay Rs 1,000-1,100 crore for Equipav versus Rs 1,530 crore earlier, reports CNBC-TV18, quoting sources. The deal could be called off if Equipav does not agree. On February 21, the Karnataka-based sugar firm agreed to buy 51% in Equipav for USD 329 million. It nudged out Hong Kong’s Noble Group in the [...]
May 17, 2010 by | No Comments
Wind-power company, Suzlon has restructured its foreign currency convertible bonds, sources told CNBC-TV18′s Pankaj Poddar. The conversion price is between Rs 95 and Rs 100 per share. CNBC-TV18 learns that the covenants have been relaxed for the entire tenure. Suzlon will pay 1% fees to bondholders for the waiver. Sources said the new price is [...]
May 16, 2010 by | No Comments
Nifty sold off right after getting back into the channel. This means that the earlier move was an X wave, whose probability we discussed earlier. It gave a whipsaw to the downward parallel channel and is now heading lower conservatively for wave Z. The weekly momentum indicator continues to be in sell mode and the [...]
May 16, 2010 by | No Comments
CYBERMATE INFOTEK LTD. (BSE Code: 532271) . Cybermate Infotek Ltd trading in BSE at 3/- Target of 7/-, 10/- & 35/- Face Value Rs. 10/- Book value 17/- Market Capital 22 Cr; But Company Assets above 50 Cr. Profit making Company Company Asstes Commerical Space at Cyber Towers, HITEC City , Hyderabad and Building with [...]
May 16, 2010 by | No Comments
Crude oil prices may soon rise to $100 a barrel due to increasing costs of exploration and production, and businesses should be prepared for higher energy prices than what they were used to in the last 20 years, Reliance Industries chairman Mukesh Ambani said on Friday. In Asia, crude oil prices have fallen below $74 [...]
May 14, 2010 by | No Comments
Coal India’s initial public offer (IPO) is likely to hit the market in August. Merchant bankers have estimated the entire valuation of the IPO at USD 30-50 billion. Partha Bhattacharya, Chairman, Coal India says that it will be the largest government IPO till date. Six investment banks have been short-listed for the IPO. The banks [...]
May 11, 2010 by | No Comments
Nifty reversed from the upper downtrend line retracing exactly 61.8% of the fall from 5342 to 4984. Now, 5206 is a crucial resistance on the upside, whereas, 5046 is a crucial support on the lower end. Hence, Nifty is now stuck in a range of 5206-5046, finding resistance at the mean of the Bollinger band [...]
May 10, 2010 by | No Comments
Private-sector lender Dhanalaxmi Bank plans to raise Rs 350-400 crore via a qualified institutional placement (QIP) to fund loan growth in 2010/11, a senior official said on Tuesday. The board approved issue of about 210 crore shares to institutional investors by September 2010 to augment the tier I capital base, Bipin Kabra, chief financial officer. “We have [...]
May 8, 2010 by | No Comments
The close which the bears were eyeing has come i.e. Nifty has posted a negative weekly close that too below its 20 weekly exponential moving average (WEMA), which I crucial level. The market catches cold with an overdose of VIX, which is a sign of trend reversal. The level to watch out now is the [...]
May 6, 2010 by | 1 Comment
Today, Nifty has broken the yesterday’s low of the hammer candlestick pattern formed on the daily charts. The break of 5056 and a new low 5037 in this fall continue to be impulsive. On the upside 5137, 5170 and 5202 are the crucial resistances and till all these levels are not taken off, the trend [...]
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