Market Buzz: 14-02-2012

Market Buzz 

  • HCL Technologies has bagged an infrastructure management services contract from Norway-based Statoil.
  • IRB Infrastructure Developers subsidiary has tied up the Rs 3,300 cr. required to execute a project awarded by the National Highways Authority of India.
  • Maruti Suzuki hikes dealers’ margin on petrol cars by 10%
  • Cipla Ltd has posted a 16% year-on-year increase in net profit to Rs 269.91 cr. for the quarter ended December 31, 2011.
  • Axis Bank said it has entered into a partnership with Singapore based DBS Bank to facilitate money transfer from Singapore to India through AxisRemit Online.
  • Muthoot Finance to raise Rs 500-cr via public issue of secured non-convertible debentures.
  • SAIL plans Rs 145 billion capex in FY13.
  • Amrutanjan Health Care has merged its beverage business entity and subsidiary – Siva’s Soft Drink, manufacturers of fruit juices under the brand ” Fruitnik”, with the company.
  • Power Ministry asks NTPC to speed up coal production from mines.
  • Indian Oil Corporation has asked the government to compensate for revenue losses incurred on selling gasoline below market prices.
  • Moody’s cut the debt ratings of six European countries including Italy, Spain and Portugal and revised its outlook on the U.K.’s and France’s top AAA ratings to “negative,” citing Europe’s debt crisis.

FOR THE DAY: 14-02-2012

FOR THE DAY:

Trade long in Nifty above 5380 levels else from 5350 levels with stop loss placed at 5330 levels for targets of 5420 and 5450 levels.