Tata Global Beverages Q3 profit down to Rs.71.93 crores

Tata Global Beverages Ltd has announced the Audited financial results for the quarter ended December 31, 2010.The Company has posted a profit after tax of Rs 471.50 million for the quarter ended December 31, 2010 as compared to Rs 367.50 million for the quarter ended December 31, 2009. Total Income has increased from Rs 4713.50 million for the quarter ended December 31, 2009 to Rs 5272.10 million for the quarter ended December 31, 2010.The Group has posted consolidated net profit of Rs 719.30 million for the quarter ended December 31, 2010 as compared to Rs 922.30 million for the quarter ended December 31, 2009. Total Income has increased from Rs 15543.00 million for the quarter ended December 31, 2009 to Rs 16116.10 million for the quarter ended December 31, 2010.The stock closed the day...

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Investment Philosophy of Rakesh Juhunjuhunwala

Although he claims to put only a minuscule of his networth on the table for trading activity, he has often leveraged his own capital and managed to make a fortune from his calls, more often than not. His stock picking strategy is influenced by the lessons from Mr George Soros's trading strategies and Dr Marc Faber's analysis of economic history. He endorses the thumb rule of 'trend is my best friend'. He is the poster boy of the Indian bull run but admits to have been a bear in the Harshad Mehta days and believes that a person in the market should be like a chameleon. He calls the markets as temples of capitalism and believes that they are the ultimate arbitrators. Much like Mr Warren Buffet, he buys into the business model of a company and for judging the longevity and growth potential, he...

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Midvalley Entertainment ends 17% lower on debut

Media and entertainment company Midvalley Entertainment started the first session on a positive note but rally fizzled out in last one hour of trade today. The stock settled at Rs 58.05, down 17% from issue price of Rs 70 a share on Bombay Stock Exchange. It has touched an intraday high of Rs 76.50 and low of Rs 55. Traded volume was nearly four times to 3,38,71,723 equity shares as against issue size of 85,71,429 shares. Chairman, Datuk K Keetheswaran said the company's net profit would grow by 12-15% in FY11. "We will open 200 screens by 2012," he said. Midvalley is a film production, distribution and exhibition company, actively engaged in the media and entertainment industry in South India. It has presence in the media and entertainment...

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Black Money - Pranab says can’t reveal names

Finance minister Pranab Mukherjee said the tax department would launch prosecution proceedings in relevant cases from the names of account holders given by foreign banks.Ahead of a Supreme Court hearing on a public interest litigation (PIL) on black money, finance minister Pranab Mukherjee at a press conference on Tuesday detailed the government’s strategy to deal with black money and said the tax department would launch prosecution proceedings in relevant cases from amongst names of account holders given by foreign banks. The government has the names of account holders in Liechtenstein’s LGT Bank and information given by German banks. Mukherjee...

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Sensex dips below 19,000 on hike in RBI key rates; down 182 points

Trading sentiment turned bearish and the Bombay Stock Exchange benchmark Sensex fell 181.83 points to 18,969.45 on heavy selling in pivotals led by banks after the RBI increased key policy rates to a two-year high and revised upwards its inflation forecast. Besides, investors unwound their pending positions in the derivatives segments ahead of the current month settlement expiry, and a weakening global trend. Opening on a higher note, the gauge climbed to 19,340.99 before ending with losses as the Reserve Bank of India (RBI) raised the key lending and borrowing rates by 0.25 percentage points and forecast inflation at 7 per cent by March 31, higher than the earlier prediction of 5.5 per cent. Similarly, the broad-based National Stock Exchange index Nifty lost 55.85 points...

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As expected, RBI raises repo rates by 25bps

To curb rising inflation, the RBI raised repo and reverse repo rates by 25 basic points (6.5% and 5.5% respectively) in its first monetary policy review of 2011. This move is in line with what analysts expected in the last few days. The apex bank also warned that higher food prices could become fixed if steps to improve output are not taken. The cash reserve ratio (which is the percentage of their deposits that banks must keep with the RBI as cash) and statutory liquidity ratio (SLR) have been left unchanged. Thus, CRR and SLR continue to stand at 6% and 24%, respectively. The Reserve Bank of India also upped its inflation forecast to 7% from the current 5.5%. This is likely to moderate in Q1FY12, RBI says. "Policy action will contain spill over to generalised inflation." It also stated that...

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BSNL, RCom bear initial brunt of mobile number portability

Bharat Sanchar Nigam Ltd and Reliance Communications have emerged the biggest losers as a result of Mobile Number Portability (MNP), introduced a month ago in Haryana. According to initial numbers, BSNL has lost a net of over 20,000 subscribers, while RCom has lost nearly 13,500 subscribers as on January 16. Idea Cellular, which was the first to start an advertising campaign on MNP, has a net loss of 1,863 subscribers with 15,604 subscribers leaving its network and 13,741 coming in. Even new players, including Sistema Shyam, Loop Telecom and Datacom (Videocon), have ended up with a net loss in numbers as a result of MNP. Though these are initial...

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Mahindra Aerospace to roll-out first aircraft by March

Mahindra Aerospace, the first Indian private firm to manufacture small civil aircraft for the domestic aviation market, is likely to roll-out its first aircraft by March this year. "We are hopeful of rolling-out our first indigenous small aircraft by March this year. But we should make sure that the aircraft is properly certified for airworthiness standards," Mahindra and Mahindra's President (Systech Sector), Hemant Luthra, said on the sidelines of an event here. "We will provide the aircraft at a price at least 20 per cent lesser than a Cessna aircraft," Luthra said. Mahindra Aerospace is the first Indian private...

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Bharti Airtel aims 3G in all licensed zones by March

Bharti Airtel aims to launch 3G wireless services across all its 13 telecoms zones in India by March and expects the premium offering to help stabilise its average revenue per user (ARPU). The No 1 mobile operator in India, which spent USD 2.7 billion last year to buy third-generation (3G) radio airwaves in an auction, on Monday launched the services in southern Karnataka state, whose capital is the technology hub of Bangalore.The company hopes to cover 40 cities by March, and expand the services to 1,500 cities and towns by a year later, a senior company official said. 3G services facilitate faster Internet on mobile phones and let customers...

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India Bajaj Auto Q3 profit up 40 pct

* Targets exports of $1 bln in current fiscal * Sees achieving oper margins of 20 pct for FY11 * Shares rise as much as 2.3 pct MUMBAI, Jan 19 (Reuters) - Bajaj Auto (BAJA.BO), India's second largest two-wheeler maker, met estimates with a 40 percent jump in third-quarter profit, and expects a rise in vehicle sales next year, signalling confidence in the country's growing auto market. The company expects unit sales in 2012 to grow to 5 million vehicles, Rajiv Bajaj, vice chairman and managing director, told the CNBC-TV18 channel. It has a target of 4 million unit sales for the current fiscal ending March 2011."They have just hiked prices...

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Sensex down 114 points; Infosys, RIL lead the fall

stThe BSE benchmark Sensex today washed out nearly half of its last two days of gains and closed about 114 points down to end at 18,978.32, following late sell-off in some heavyweight counters on continued fears of interest rate hike in view of high inflation. Selling in Infosys Tech, RIL, L&T, SBI, HDFC Bank, HDFC and ONGC contributed largely to the fall. However, smart rise in ICICI Bank, Hindalco, Sterlite Ind, TCS, Bajaj Auto and DLF cushioned the dip to some extent.Brokers said that fears of rise in key interest rates by the apex bank RBI in its quarterly monetary policy review on January 25 continued to daunt the market sentiment.The Bombay Stock Exchange 30-share barometer initially moved in a narrow range but selling after mid-session pulled it down to close at 18,978.32, a net...

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HCL Tech Q2 net profit seen up at Rs 366.7 cr

India's fourth largest software services exporter HCL Technologies is set to announce its results for the quarter ended December 2010. According to CNBC-TV18 estimates, its net profit is expected to go up at Rs 366.7 crore in Q2 as against Rs 331 crore in Q1FY11. Revenues in terms of dollar are seen going up at USD 857.42 million versus USD 804 million and in ruppe terms, revenues are likely to be at Rs 3840 crore as against Rs 3708 crore.Earning before interest, depreciation, tax and amortisation (EBIDTA) is expected to go up at Rs 611 crore from Rs 603.3 crore. Q2FY11 expectations* Expect revenue growth of 6% in dollar terms...

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Omkar Speciality Chemicals IPO to open on Jan 24

Omkar Speciality Chemicals is entering capital market with an initial public offering of 81 lakh equity shares of Rs 10 each on January 24. The issue constitutes 41.27% of the fully diluted post issue paid-up capital of the company. The company has fixed price band at Rs 95-98 per equity share for the issue, which closes on January 27. Bids can be made for minimum 60 equity shares and in multiples of 60 equity shares therafter. Omkar Speciality hopes to raise Rs 76.95-79.38 crore through issue, which are proposed to be deployed for setting up of new manufacturing facility at Unit 4 at Badlapur,...

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Mobile number portability to come in force from Jan 20: TRAI

After a long wait, the Mobile Number Portability (MNP), which allows a mobile subscriber to change his service provider without changing his number, is all set to come in force all over India from January 20.According to a notification issued by the Telecom Regulatory Authority of India (TRAI), the MNP would come into force all over the country from January 20.'The authority in exercise of powers conferred by clause(b) of sub regulation(2) of regulation (1) of the Telecommunications Mobile Number Portability Regulations 2009 (08 of 2009) and for ensuring compliance with the terms and conditions of the licence and for protecting the interests of the consumers of the telecom sector hereby directs that regulations 6, 7, 8, 9, 10, 11, 12 and 13 of the Telecommunications Mobile Number Portability...

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Renault soft pedals its role in Bajaj small car

Bajaj Auto’s ultra low-cost car project may have a bumpy ride ahead, with partner Renault India still to take a final call on branding and marketing the vehicle.“We have not seen the car being developed by Bajaj. We will take a decision on whether to partner on branding and marketing the vehicle only when we see the final product. The product being developed by Bajaj has to be a car for us to go ahead with the agreement,” said Jerome Stoll, executive vice-president (sales & marketing) at Renault. According to a 2008 agreement, Renault and Nissan will brand, sell and market the Bajaj car. However, launch of the vehicle has been postponed twice...

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Tata Steel FPO opens tomorrow: Should you subscribe?

World's seventh largest steel maker Tata Steel's follow-on public offer (FPO) is set to open for subscription tomorrow. It has fixed price band of Rs 594-610 a share for its FPO of 5.7 crore ordinary equity shares of Rs 10 each. The company aims to raise Rs 3385.8-3477 crore through the issue, which will close on January 21. Experts are divided on the issue. Deven Choksey of KR Choksey and Manish Bhatt of Prabhudas Lilladher are positive on it while Investment Advisor, SP Tulsian has given a thumps down to the same. "We are not excited by this Tata Group company’s FPO plans, as there is not enough...

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GAIL Q3 net profit jumps 12.56% at Rs 968 cr

State-run GAIL has announced its results for the quarter ended December 2010. It has reported standalone net profit of Rs 968 crore as against Rs 860 crore, a growth of 12.56% on year-on-year basis (YoY). Standalone net sales rose 35.19% to Rs 8,365 crore from Rs 6,187.8 crore (YoY).Numbers were slightly above their estimates; CNBC-TV18 was expecting profit after tax at Rs 945 crore and sales at Rs 7800 crore. In a press conference GAIL said:-Profit boosted by gas trading, transmission-All pipeline projects are on stream as of December 2010-Will add additional 1500 km pipeline by December 2011-Successfully completed bond issue of...

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Sensex regains 19,000 level help by TCS, ITC, Infosys

The Sensex extended gains and is trading above the crucial 19,000 mark. IT, teck and metal stocks traded higher.At 2.56 p.m., the Sensex was trading up 156.75 points or 0.83% at 19,039 with 21 components gaining. Meanwhile, the Nifty was trading higher by 52.20 points or 0.92% at 5,706.95 with 36 components gaining. The 30-share benchmark index, BSE Sensex opened with a gain of 100.95 points or 0.53% at 18,983.20, while the broad based NSE Nifty started with a rise of 27.80 points or 0.49%, at 5,682.55. Sensex Movers Tata Consultancy Services contributed rise of 48.25 points in the Sensex. It was followed by I T C (25.4 points), Infosys Technologies...

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India software giant TCS net profit up near 30%

MUMBAI: India's largest software exporter Tata Consultancy Services on Monday said consolidated net profit rose 29.8 percent in the third quarter, beating forecasts, as outsourcing orders strengthened.Net profit was 23.69 billion rupees ($526 million) for the three months to December, up from 18.24 billion rupees a year earlier.Turnover for the quarter rose 29 percent to 98.57 billion rupees, a statement to the Mumbai stock exchange said.Analysts expected TCS to show profit of about 22 billion rupees."We have delivered another stellar quarter, capturing volumes. Demand continues to be strong," the company's chief executive N Chandrasekaran said...

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Vibrant Gujarat 2011: Mahindra to invest Rs 3,000 cr

AHMEDABAD: Farm equipment-to-software group Mahindra & Mahindra on Wednesday said it will invest Rs 3000 crore in Gujarat to step up presence in the hospitality and real estate sectors in the state. "Our group companies have signed six MoUs with the Gujarat government totaling an investment of Rs 3000 crore," Mahindra & Mahindra Vice-Chairman and Managing Director Anand Mahindra said here at the 5th Global Summit of Vibrant Gujarat. He, however, did not specify the time frame for these investments. Mahindra Lifespaces , the real estate development arm of USD 7.1 billion Mahindra Group , has signed two MoUs with the...

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The Mahindra Thar Adventure Off Roader

Indian off road enthusiasts for long have been left with minimum choice really. Apart from the very affordable and capable Maruti Gypsy, there is a serious dearth of choices in the sub 10 Lakh rupee SUV segment. So, Indian off roading enthusiasts, in their quest for off road vehicles have had to look at rebuilding de-commissioned Mahindra army jeeps or buy new Maruti Gypsys with nothing really in between. Mahindra answered many a fervent prayer and unveiled the Mahindra Thar at the 2010 Indian Auto Expo. Powering the Mahindra Thar is a powerful diesel CRDe engine displacing 2498cc. This powerful engine generates 105 Bhp at...

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Mahindra Thar Launches in Kerala

Mahindra & Mahindra , market leader in utility vehicles today introduced the Thar CRDe , 4x4 offroader in the Kerala market. It is priced at Rs 6.11 lakh for BS IV variant (ex-showroom price) Kochi. Kerala has been the largest market for such vehicles and the company was totally geared to meet any requirements,Behram Dhabher, General Manager (Vehicle Development) told reporters here. The Thar aims to play a significant role in shaping the lifestyle vehicle segment both in urban and rural India. Consumers are looking for a different lifestyle as they seek adventure and a fun experience which the vehicle will...

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