Market Buzz: 06-02-2012

Market Buzz

  • SBI waives service fee on SME loans.
  • RIL has proposed to charge a $0.15 levy in lieu of marketing costs on the sale of gas produced from coal seams (CBM).
  • Tata Power has said the flagship 4,000-MW Mundra UMPP couldbecome a “non-performing asset” if no decision is taken on increasing tariffs for electricity from the plant.
  • NMDC Ltd, is scouting for mineral assets in Brazil, Mozambique, Russia, the United States and South Africa.
  • Central Bank of India may go in for restructuring of some of itsloans given to power companies in the current quarter.
  • Bhushan Steel has put its proposed Rs 20,000 cr. steel plant in West Bengal on hold.
  • Fortis is investing 70 million Singaporean dollars (about Rs 274 cr.) in two colorectal centres in Singapore this year.
  • Kingfisher Airlines Ltd has put on hold plans to join the global oneworld alliance.
  • The government will finalise new royalty rates for major minerals other than coal, lignite and sand by August this year, which willboost its revenues significantly.
  • Godrej Industries Q3 net up 40% at Rs 85 cr.
  • U.S. jobless rate fell from 8.5% to 8.3%, the lowest it has been since February 2009.
  • European leaders maintained pressure on Greece to accept terms demanded by international lenders during a weekend of talks to avert a financial collapse.

FOR THE DAY: 06-02-2012


Trade long in Nifty above 5380 levels else from 5350 levels with stop loss placed at 5320 levels for targets of 5400 and 5430 levels.