Sharekhan maintains `Hold` on Bharti Airtel

Sharekhan has recommended `Hold` on Bharti Airtel with a price target of Rs 383 as against the market price (CMP) of Rs 373 in its report dated Sept. 27, 2010. The brokerage house gave the following investment rationale: Recently, there has been a strong run-up in the stock price of Bharti Airtel (Bharti; +42% in the past three month, +18% in the past one month). The strong performance was on account of a series of factors including improving domestic environment, positive industry news flow (consolidation talks and dilution of Telecom Regulatory Authority of India [TRAI]`s draconian 2G recommendation) and fund houses shoring up the under owned...

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Aircel to spend $500 million for the 3G launch by 2011

New Delhi Sep 29 (IANS) Telecom service provider Aircel Wednesday said it would spend over $500 million to roll out its third generation (3G) service in India in the January-March quarter of 2011. 'We will launch the 3G services in the first quarter of the next year,' said Gurdeep Singh, chief operating officer. The company, which has over 45 million subscribers, expects the number to shoot up to over 75 million customers with the rolling out of the 3G services. The company has won spectrum for 13 new circles across the country, including Delhi (Metro) and Mumbai (Metro). Initially, it will launch the 3G service in top 10 cities...

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It's official, Mahindra Satyam FY10 loss at Rs 125 cr

Mahindra Satyam (formerly Satyam Computer) today reported a consolidated loss of Rs 124.60 crore for year ended March 2010, a far better show from the previous fiscal when it had plunged into a deep crisis after founder B Ramalinga Raju admitted to multi-crore rupee scam. Helped by a sharp reduction in employee cost at Rs 3,981.10 crore in 2009-10 from Rs 6,073.7 crore in the previous year, the company reduced the net consolidated loss from Rs 8,176.8 crore in 2008-09.In FY09, the company had to incur exceptional expenses related to the scam. Cash and bank balances were to the tune of Rs 2,176.8 crore as on March 31, 2010. The loan balance as of March 31, 2010 was Rs 422 crore. The results of Mahindra Satyam were keenly awaited across industry and markets as the real financials were shrouded...

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Expect rally to continue, use dips to buy: Experts

The equity benchmarks continued consolidation for the second consecutive day and closed on a flat note on Tuesday.KR Bharat, MD, Advent Advisors says for India in particular and for equity markets in general, the liquidity situation is likely to prevail for some time going forward. “So, I think this party is going to continue.”He thinks days like today present opportunities for people to get back in.He further says the earning season is unlikely to throw up any unpleasant surprises. “As long as the strength of liquidity continues, I do not think October is going to be a problem.”However, Bharat still expects that big correction to come although not in the near future. “I have changed my mind now about the big correction, I am still very sure it’s going to happen, I just think it’s been pushed...

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L&T Finance to file DRHP for Rs 1500 cr IPO

L&T Finance, the non-banking financial company of L&T is planning to file Draft Red Herring Prospectus (DRHP) for Rs 1500 crore initial public offering (IPO), reports CNBC-TV18 quoting NewsWire18.L&T Finance had listed its non-convertible debentures (NCDs) on the NSE a year ago, closed today at Rs 1085 as against a face value of Rs 1,000 per debenture.L&T Finance to file DRHP for Rs 1500 cr IPOEarlier on August 30 this year, AM Naik chairman of the company had said in an exclusive interview to CNBC-TV18 , "Our IPO will be coming late this year. So, I think investor will know our run rate of profit. L&T brand, which everybody knows is a super brand, also people attach a lot of trust on the world L&T. So, therefore, when they have to come to invest, they feel little more...

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PlayBook Tablet is BlackBerry's Revolution

BlackBerry makers Research in Motion just proved it can innovate with the PlayBook, a major new platform that vaults BlackBerry out of its doldrums and potentially back into the top rank of hot consumer technologies.The 7-inch PlayBook is a radical break for a company that's been used to evolutionary steps, and some of its specs beat the competing iPad and Samsung's Galaxy Tab easily. The PlayBook's dual-core, 1-Ghz ARM Cortex-A9 processor, for instance, is faster than anything the competition has to offer.The PlayBook runs a new operating system, which is based on QNX Neutrino, a product RIM bought earlier this year. Neutrino is a modern, UNIX-like operating system that currently runs in many embedded systems, including cars. According to RIM, developers will be able to build apps for the...

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Anil Ambani mulls public issue, commercial bank for group firms

Mumbai: A public issue, entry in commercial banking and sale of strategic stake to an investor were among a slew of proposals unveiled by the Reliance Anil Dhirubhai Group for three companies during their respective shareholder meetings here Tuesday.Ahead of CWG, it's about slumdogs v millionairesGroup Chairman Anil Ambani, who presided over the back-to-back meetings from 10 a.m. to 3 p.m., also set an ambitious target of 25,000 MW of energy capacity by 2015 and announced a new initiative on infrastructure lending with a target of $11 billion as asset base.Anil Ambani group scrips end higher on plan announcements'The Reliance Anil Dhirubhai Ambani Group is by far the youngest of all large business houses in India, yet we already rank among the top 5 on every important financial and operating...

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