Tuesday, August 26, 2008

Infosys, Oil & Natural, Tata Motors, Bosch: India Stock Preview

By Pratik Parija and Saikat Chatterjee

Bloomberg - The following stocks may have unusual changes in Mumbai trading. Stock symbols are in brackets and prices refer to the close as of yesterday. The preview includes news that broke after markets shut.

The Bombay Stock Exchange's Sensitive Index, or Sensex, rose 0.3 percent to 14,450.35. The S&P CNX Nifty Index on the National Stock Exchange added 0.2 percent to 4,335.35. SGX Nifty futures for August delivery fell 0.6 percent to 4,302.50.

Overseas investors sold a net 1.14 billion rupees ($26 million) of Indian stocks on Aug. 22, increasing their net outflow this year from equities to $7.07 billion, according to the nation's stock market regulator.

Bosch Ltd. (BOS IN): The automobile-parts maker will consider a proposal to buyback some shares in a board meeting on Sept. 2. The stock fell 42.5 rupees, or 1.2 percent, to 3,635.8.

Infosys Technologies Ltd. (INFO IN): The nation's second- largest computer-services provider offered to buy Axon Group Plc, a U.K.-based business adviser for companies that run SAP AG software, for 407.1 million pounds ($755 million) in cash. Infosys rose 9.95 rupees, or 0.6 percent, to 1,706.45.

Oil & Natural Gas Corp. (ONGC IN): The country's biggest explorer will spend 4.23 billion rupees to refurbish a rig and the repair job will be carried out by Hindustan Shipyard Ltd. Oil & Natural Gas fell 4.65 rupees, or 0.5 percent, to 1,014.55.

RayBan Sun Optics India Ltd. (BL IN): Ray Ban Indian Holdings Inc., which owns 70.5 percent of RayBan Sun, plans to acquire the shares it doesn't already hold in the unit and end trading of the company's stock on the Bombay Stock Exchange.

Ray Ban Indian Holdings plans to buy more than 7.21 million outstanding shares at a price of 140 rupees apiece. RayBan Sun Optics rose 1.85 rupees, or 1.4 percent, to 131.1.

Tata Motors Ltd. (TTMT IN): The carmaker may move its small- car factory from West Bengal if the situation over land acquisition from farmers does not improve in two weeks, the Economic Times reported, citing unidentified people. The shares rose 6.35 rupees, or 1.5 percent, to 433.70.

Courtesy: bloomberg.com

1 comments:

share said...

Hi,

Once again after crash Nifty has started going up. Now we suggest all rises should be used as an opportunity to exit old long positions.
This bull run will continue for few more days. Overall market is in bearish mood as in medium term its just a small rally due to short covering
and result season.


Happy Trading,

ShareGyan

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