indian stock market

SAIL signs Joint Venture Agreement Announcement: Steel Authority of India Ltd (SAIL) has informed BSE that on January 14, 2009 the Company has signed a Joint Venture Agreement with Coal India Ltd, Rashtriya Ispat Nigam Ltd, NMDC Ltd and NTPC Ltd for setting up of a Special Purpose Vehicle i.e. International Coal Ventures Pvt. Ltd (ICVL) for acquisition of coal mines/block overseas for securing coal supplies. The Company will have its registered office in the National Capital Territory of Delhi and will be incorporated with an authorized capital of Rs 1 crore, which shall be increased from time to time depending upon needs of the Joint Venture Company.

  Investors with a two-year horizon can buy the shares of 3i Infotech, considering its strong business prospects and very attractive valuation. At Rs 40, the share trades at just three times its likely 2008-09 earnings. Concerns over the IT sector in general and worries about 3i Infotech's BFSI (banking, financial services and insurance)-centric business model has caused the stock to be beaten down considerably to the point of being quite undervalued. However, the company's lower US dependence, focus on basic banking and insurance operations, and inorganic growth prospects render it attractive. 3i Infotech has a robust business model comprising a blend of products, services and transaction processing offerings. The service-mix features near-equal contribution from IT products, services and transaction processing. Transaction processing is a low-margin service, yet it may be less prone to a cut in discretionary spends of clients. Its inorganic moves are also tar...

Seven realty shares rose by 2.71% to 14.19%, on hopes a decision to offer lower interest rate on some home loans will revive housing demand At 13:18 IST, the BSE Realty index was up 5.82% at 5,571.72, outperforming the Sensex, which was up 1.55% at 9,840.10. DLF, Unitech, Indiabulls Real Estate, Omaxe, Sobha Developers, Ansal Properties & Infrastructure, Puravankara Projects were up by 2.71% to 14.19%. Indian state-run banks will offer special rates on some loans to home buyers and small businesses, as part of a government-led initiative to boost economic growth and shore up confidence amid a global liquidity crisis. Public sector banks will offer home loans up to Rs 5 lakh at 8.5% and between Rs 5 lakh to Rs 20 lakh at 9.25%. The new home loan rates, part of a move to stimulate demand in the affordable housing segment, will be effective until 30 June 2009. Currently, loans in that category cost borrowers more than 10%. The banks will take a 10% margin on home lo...

Investors can buy the shares of Educomp Solutions, considering the bright growth prospects for its key verticals and the stock's sizeable valuation discount to its historic levels. At Rs 2,088, the stock trades at 26 times its likely 2008-09 earnings. This is not cheap under current market conditions. But Educomp has locked into most if its contracts where it licenses digital teaching content on long-term basis, typically over a five-year period. Continuing triple digit growth in high-margin segments such as Smart Class and retail & consulting, a healthy order pipeline for its services that cater to IT-enablement of government schools, support the valuations. Educomp's focus on the education sector also lends resilience against any broader slowdown as schools are unlikely to scale down investments in innovative teaching methods. With the Government's IT-enablement programme continuing on course, the company appears well placed to ride out the p...

Analysts now bet on rate cuts. Our Bureau Mumbai, Dec. 12 Indian equities reacted sharply to negative global cues and the poor Index of Industrial Production (IIP) figures for October 2008. The Sensex fell more than 350 points intraday on Tuesday (from its previous close), though it recovered towards the close of trading aided by substantial gains in some of the index heavyweights. The IIP figure for October fell by 0.4 per cent, its growth rate entering the negative territory for the first time in 15 years. It had risen 12 per cent in October 2007. "The markets opened sharply lower on the back of weak global cues and the sentiment got even more sour by dismal IIP data at noon. However a smart recovery was seen in second half of the trading," said a report by Ambit Capital. "This is the first contraction since the index began in FY-94. On a cumulative basis, growth during April-October was 4.1 per cent versus 9.9 per cent during the s...

Kalindee Rail Nirman Engineers galloped 15.49% to Rs 129 at 13:38 IST on BSE after a block deal of 4.97 lakh shares, or 4.43% of the equity, was struck at Rs 115 on NSE. Meanwhile, the BSE Sensex was down 194.27 points, or 2.09%, to 9,096.74. On BSE, 3.75 lakh shares were traded in the counter. The stock had an average daily volume of 23,721 shares in the past one quarter. The stock hit a high of Rs 131 and a low of Rs 107.30 so far during the day. The stock has a 52-week high of Rs 600 on 1 January 2008 and a 52-week low of Rs 85 on 10 October 2008. The small-cap stock had outperformed the market over the past one month till 17 November 2008, gaining 3.38% as compared to the Sensex's decline of 6.86%. It had underperformed the market in the past one quarter, declining 46.77% as compared to the Sensex's decline of 36.90%. The company's current equity is Rs 11.22 crore. Face value per share is Rs 10. The current price of Rs 129 discounts the company's ...

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