Oswal Chemicals and Fertilisers touched an intraday high of Rs 20.60 and an intraday low of Rs 18.90. At 09:54 hrs the share was quoting at Rs 20.35, up Rs 1.55, or 8.24% on the NSE.
There was a block deal of 3.5 crore (13.6% Eq) Oswal Chem shares at Rs 19.50 per share,
The block deals is executed in FII window.
It was trading with volumes of 720,520 shares. Yesterday the share closed up 0.53% or Rs 0.10 at Rs 18.80.
Share Price Movement During The Last 12 Months
An integrated healthcare company Biocon has announced its results for the quarter ended September 2010. It has reported consolidated net profit of Rs 89.2 crore as against Rs 74 crore, a growth of 20.54% on year-on-year basis (YoY).
Consolidated net sales jumped 17.07% to Rs 679 crore from Rs 580 crore (YoY).
Bottomline numbers were better-than-expectations while topline was in-line;
Biocon's operating margins improved to 22% versus 19.5%.
We are the Best share market tips and stock tips provider in India for Intraday trading of cash , Nifty future and Nifty Options.We give only sure shot tips so that you can trade with high volumeRaymond touched an intraday high of Rs 405.50 and an intraday low of Rs 381.40. At 09:50 hrs the share was quoting at Rs 401.75, up Rs 23.25, or 6.14%.
It was trading with volumes of 917,208 shares. Yesterday the share closed up 1.49% or Rs 5.55 at Rs 378.50.
Share Price Movement During The Last 12 Months
Housing Development and Infrastructure (HDIL) touched an intraday high of Rs 276.80 and an intraday low of Rs 268.25. At 09:38 hrs the share was quoting at Rs 270.50, down Rs 4.15, or 1.51%.
There was a block deal of 1.1 crore HDIL shares on BSE at Rs 272.90 per share, reports CNBC-TV18.
It was trading with volumes of 12,870,039 shares. Yesterday the share closed up 2.16% or Rs 5.80 at Rs 274.65.
Share Price Movement During The Last 12 Months
We are the Best share market tips and stock tips provider in India for Intraday trading of cash , Nifty future and Nifty Options.We give only sure shot tips so that you can trade with high volumeDr C Rangarajan, chairman of Prime Minister's Economic Advisory Council and former governor of RBI, to discuss the issue.
Below is a verbatim transcript of the interview. Also watch the video.
Q: With regards to the external environment, what several people are calling the potential of a currency war breaking down or breaking out?a race to the bottom?how de-stabilising do you anticipate this could be to the global growth situation and what implications could it have for India?
A: If that is all-out currency war, it will be very damaging to the world economy. The growth process, which is still very slow in the developed economies, will be severely affected and it will also affect the developing economies. But one only hopes that it will not blow into or emerge into a full scale currency war.
Q: This is going to be the focus of talks in the upcoming G20 meet. The US-China debate aside several emerging nations have either imposed some form of capital control or are considering some form of capital control. You had what is going on in Brazil and Thailand?analysts are expecting Taiwan, Korea and maybe even Indonesia to start looking at some for of capital controls. How do you assess the chances of a currency war breaking out? Of course it breaks out like you pointed out, it would be disastrous, but what are the chances currently in your assessment of such a thing happening?
A: I think some compromise will be worked out the G20 meetings. Neither United States not China would be interested in pushing this to the brink. I don?t particularly think that the possibility of a full-fledged currency war bursting on the world economy. As far as capital controls are concerned, that is based on a different set of consideration the emerging markets feel that possibly because of the liquidity available in the world system. There will be more influx of funds into the countries and they are keen and anxious to limit these inflows or to ensure that the impact of these inflows is not too much on the economy.
Q: Coming to India view and starting first with the rupee as well as the intervention issue before going into the capital control?s point of view. We have seen about 5% appreciation on the rupee this year. It?s at mid-44 levels. We have seen one bought of interventions by the RBI last week. What rupee level are you building into your assessment? Where do you think the exchange rate is likely to go and settle, over the short-term at least, considering that the flood of liquidity coming in from some of the developed nations is unlikely to be stemmed in any fashion?
A: As far as the appreciation of the rupee is concerned, it is very much in relation to the dollar. In relation to the other currencies, it has been a zigzag. It is not in any one direction. On the whole, the trade deficit has a tendency to widen and therefore in this particular context we need to ensure that the rupee in terms of the dollar does not appreciate in nominal terms. Perhaps we should say more or less at the same level that we had at the beginning of the fiscal year. Therefore the first step is to ensure that the rupee does not appreciate in nominal terms.
In real effective terms of course the rupee has appreciated. That is precisely because of the high level of inflation in this country. Only when inflation in India comes down very substantially, the real effective appreciation can be stopped. But in nominal terms, I would suggest that the RBI should take such action as will be necessary to ensure that it doesn?t appreciate.
Q: What is that such action? Is it more direct intervention that you are referring to?
A: Yes, if the capital inflows are very large, then the Reserve Bank of India (RBI) should be willing to intervene in the market and accumulate the reserves. But let us also understand that until the end of August the capital inflow into India was not that strong. The addition to the foreign exchange reserves at end of August was very minimal. The surge is seen only in September and in October.
But also let us look at the capital inflows in the context of widening current account deficit perhaps the current account deficit of India in this year will be close to 3% of the GDP. This will be equivalent to something like USD 45 billion and therefore we need capital inflows to finance the current account deficit of that particular order and some addition to the foreign exchange reserves over and above covering the current account deficit will also be needed.
There is still some scope for the Reserve Bank of India to absorb the capital flows into the reserves.
We are the Best share market tips and stock tips provider in India for Intraday trading of cash , Nifty future and Nifty Options.We give only sure shot tips so that you can trade with high volumeBhushan Steel has target of Rs 590,
Bhushan Steel is the strongest steel stock, which is almost at new highs, so we buy this a stoploss of about Rs 504. While other metal stocks got hammered last 2-3 days this one is sideways and started moving up yesterday. The target in the short term could be closer to Rs 590."
The company's trailing 12-month (TTM) EPS was at Rs 40.65 per share. (Jun, 2010). The stock's price-to-earnings (P/E) ratio was 13.36. The latest book value of the company is Rs 186.24 per share. At current value, the price-to-book value of the company was 2.92. The dividend yield of the company was 0.09%.
We are the Best share market tips and stock tips provider in India for Intraday trading of cash , Nifty future and Nifty Options.We give only sure shot tips so that you can trade with high volume
Sasken Communication Technologies touched an intraday high of Rs 235.50 and an intraday low of Rs 214.05. At 09:44 hrs the share was quoting at Rs 214.05, down Rs 14.8, or 6.47%.
The company has declared its consolidated second quarter result. Its Q2 net profit was down at Rs 15.7 crore versus Rs 23 crore, QoQ. Its net sales were down at Rs 133.8 crore versus Rs 145.8 crore, QoQ,.
It was trading with volumes of 172,984 shares. Yesterday the share closed up 0.02% or Rs 0.05 at Rs 228.85.
Share Price Movement During The Last 12 Months
We are the Best share market tips and stock tips provider in India for Intraday trading of cash , Nifty future and Nifty Options.We give only sure shot tips so that you can trade with high volume