Breaking News & Stocks

rakeshmalik · #**411** 19th February 2008, 02:28 PM

market not consolidating.seems going in negetive.

rakeshmalik · #**412** 19th February 2008, 02:29 PM

HM to expand Mitsubishi dealerships

New Delhi, Feb 18: CK Birla group company Hindustan Motors on Monday said it would expand dealerships for Mitsubishi products to 45 by the end of this year as part of its plans to shore up sales in India.

Currently, it has 33 Mitsubishi dealerships in the country.

"By the end of calendar year 2008, we will have 45 dealer locations pan-India and North India will continue to be in our focus where we already have 10 dealerships," HM Managing Director Ravi Santhanam said.

HM and Mitsubishi have a partnership under which the Indian firm sells the Japanese auto maker's products, including Lancer, Cedia, Pajero and Montero.

The company today opened its relocated dealership in Gurgaon.

Bureau Report

kkseal · #**413** 19th February 2008, 02:42 PM

Quote:

Originally Posted by rakeshmalik

metal stocks are good.plz hold on.

Not so sure Commodities may come down in the days ahead.

rakeshmalik · #**414** 19th February 2008, 03:47 PM

can be but chances are rare.holding is better then you sell.

rakeshmalik · #**415** 19th February 2008, 04:28 PM

europe still weak:FTSE 100 5,912.80 -33.80 -0.57%

rakeshmalik · #**416** 19th February 2008, 05:27 PM

China`s inflation rate at 7.1 % in January: Govt

Beijing, Feb 19: China's inflation rate hit 7.1 percent in January, the National Bureau of Statistics said Tuesday, the highest figure in over 11 years.

The consumer price index was pushed up by an 18.2 percent rise in food prices, with the cost of pork jumping 58.8 percent compared with a year ago, the bureau said.

The January inflation rate of 7.1 percent was up from 6.5 percent in December, and was the highest since September 1996, when the index rose 7.4 percent.

Inflation in China has continued to rise sharply despite a wide range of government measures to keep a lid on prices and rein in the nation's economy, which expanded at a 13-year high of 11.4 percent in 2007.

As part of those efforts, China last year raised interest rates six times and increased the amount of money commercial banks needed to set aside in reserves 10 times.

But taming inflation became far tougher in China in January when large swathes of the country endured their coldest winter weather in more than 50 years.

In south and southwestern China, which suffered the worst of the weather, snow and ice destroyed crucial winter crops such as wheat, rapeseed and fruit.

And as China struggles to control rising prices, there are increasing concerns that it is exporting its inflation problem.

With the cost of raw materials, food and energy rising in China, its vast array of exports are in danger of becoming far more expensive, although the massive source of cheap labour helps to absorb some of those pressures.

Bureau Report

rakeshmalik · #**417** 19th February 2008, 05:29 PM

World oil prices above USD 96 in Asian trade

Singapore, Feb 19: World oil prices were higher at above USD 96 in Asian trade on Tuesday on persistent worries over the outlook for crude supplies, dealers said.

In morning trade, New York`s main contract, light sweet crude for delivery in march, rose 65 cents to USD 96.15 a barrel in electronic deals on the New York Mercantile Exchange (NYMEX).

It had touched an intra-day high of USD 96.45 a barrel.

Floor trading at NYMEX was shut yesterday for the president`s day public holiday.

Brent north sea crude for April delivery was up two cents at USD 94.93 per barrel.

"There has been no major news to affect the market today but concerns about recent supply disruption in Nigeria and Venezuela are still supportive of pricing," said David Moore, a commodity strategist at Commonwealth bank of Australia in Sydney.

Oil-producer Venezuela has cut off oil supplies to US energy giant ExxonMobil over a legal dispute, highlighting supply concerns.

The legal battle relates to ExxonMobil`s bid to secure compensation after Venezuela`s government nationalised key oil fields in the Orinoco basin, including two ExxonMobil operation.

ExxonMobil said it has won court orders in New York, London, the Netherlands and the Netherlands Antilles freezing some USD 12 billion of assets of Venezuela`s state-owned oil producer Pdvsa in those jurisdictions.

In Nigeria, unrest rekindled market worries about output from Africa`s largest crude oil producer. Instability and violence have resulted in Nigeria`s oil output being slashed by a quarter in 2007.

Bureau Report

rakeshmalik · #**418** 19th February 2008, 06:10 PM

Oil to be explored in Brahmaputra river basin: Aiyar

Duliajan (Assam), Feb 18: The Centre is planning to start oil exploration work in the Brahmaputra river basin to increase production, DONER Minister Mani Shankar Aiyar said.

Addressing the golden jubilee function of Oil India Limited (OIL) here on Monday, Aiyar said the basin has huge potential of oil reserve which had to be exploited.

Exploration work will start as soon as the required environmental clearance was given, he said.

Aiyar said oil exploration work was also slated to be started in Tirap and Changland districts of Arunachal Pradesh but the expert team for the purpose was chalking out a plan to counter the hilly and difficult terrain in that state.

Noting that there was no dearth of oil reserve in the country, Aiyar expressed satisfaction at the striking of new reserves in Andhra Pradesh, Kaveri basin, Rajasthan and Gujarat.

Bureau Report

rakeshmalik · #**419** 19th February 2008, 06:15 PM

AP
Wal-Mart 4Q Profit Rises 4 Pct
Tuesday February 19, 7:36 am ET
Wal-Mart Posts 4 Percent Rise in 4Q Profit As Revenue Climbs More Than 8 Pct

BENTONVILLE, Ark. (AP) -- Wal-Mart Stores Inc., the world's largest retailer, said Tuesday its focus on low prices paid off with a 4 percent rise in profit for its fourth quarter. International growth also helped boost profit and sales.

Wal-Mart said net income in the quarter ended Jan. 31 rose to $4.096 billion, or $1.02 per share, compared to $3.94 billion, or 95 cents a share, a year earlier.

Net sales grew 8.3 percent to $106.27 billion, helped by 18.8 percent international growth and 5.0 percent growth at U.S. Wal-Mart stores. Overall revenue including membership fees rose to $107.43 billion from $99.078 billion a year earlier.

Analysts surveyed by Thomson Financial had expected profit of $1.02 per share on revenue of $106.9 billion.

Wal-Mart forecast earnings per share for the 2009 fiscal year of $3.30 to $3.43. The range of 23 analyst estimates for the full year was $3.30 to $3.55, according to Thomson.

Chief Executive Lee Scott said Wal-Mart's decision last year to refocus on low prices after a brief foray into fashion and trendier merchandise had paid off in a time of mounting economic uncertainty.

"The price leadership strategy we put in place at the beginning of the year was exactly the right strategy for our customers around the world in a tough economic environment," Scott said.

Scott said the economy remains a critical issue for consumers this year.

"Customers were more cautious in their spending in January. In a volatile economy, I believe we are well positioned to succeed."

rakeshmalik · #**420** 19th February 2008, 06:18 PM

REC IPO fully subscribed

Mumbai, Feb 19: The Initial Public Offer (IPO) of Rural Electrification Corporation, a state-run power sector lender, got fully subscribed within about half an hour of the start of book building process on Tuesday.

REC is looking to raise about Rs 1,640 crore through sale of 15.6 crore equity shares in a price band of Rs 90-105 in the IPO.

According to investment bankers associated with the offer, the issue saw robust demand right from the beginning this morning and was fully subscribed within 27 minutes.

The book building process, which opened today, is scheduled to close on February 22.

The issue would constitute about 18.18 percent of the fully diluted post-issue capital of REC.

Bureau Report

View Poll Results: sensex 18000 in sight.do you agree ?
yes	7	77.78%
no	2	22.22%
Voters: 9. You may not vote on this poll