03 Mar 2008 : Indian Stock Market News Round up

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Loan waiver will not lead to collapse of banks: FM
Finance Minister P Chidambaram on Sunday sought to allay apprehensions that the Rs 60,000 crore farmers' package will lead to collapse of the cooperative and scheduled commercial banks and weaken the banking system

JMC Projects: Buy
JMC Projects has managed a successful turnaround, transitioning from a company with eroding net worth to one with a strong balance sheet in two years.

UTV Software: Hold
UTV Software, which has firmly established itself in the movie production business, is inching faster towards its ambition of becoming a global integrated media player with a presence spanning television content, broadcasting, films, gaming and animation

Divi’s Laboratories: Buy
Investments with a two-three year perspective can be considered in the stock of Divi’s Laboratories, a leading player in the pharma contract manufacturing space

Allcargo Global: Buy
Investments with a two-three year perspective can be considered in the stock of Allcargo Global Logistics, a leading integrated logistics solution provider

Infotech Enterprises: Hold
Shareholders can continue to hold the Infotech Enterprises stock with a 12-18 month horizon

Tata undecided about reducing Nano price
Following the reduction in excise duties in the union budget, automobile major Tata Motors has slashed the prices of its Indica and SUV models. However, the company Saturday said it was undecided about lowering the price of its forthcoming model Nano, already considered the world's cheapest car at Rs 100,000 ($2,500).…

RIL, Essar raise petrol prices
Within a couple of weeks, the two private sector petroleum companies Reliance Industries and Essar Oil have again resorted to a hike in petrol and diesel prices. Reliance has raised petrol price by Rs 4.5 per litre and left diesel price untouched.

Commodity trading to turn a costly affair
Introduction of commodity transaction tax (CTT) similar to that of securities transaction tax (STT) seems to have not gone well with the exchanges and broking firms alike

The Financial Express
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OEH wont let Tatas take over
Luxury hotel chain Orient-Express, in which the Tatas have become the second-largest shareholder, has said talks about its possible acquisition could affect its share price although its anti-takeover measures are firmly in place

Dalal Street to follow global cues, say analysts
The Indian Stock market is likely to follow global cues in the coming weeks, while the Budget proposals for 2008-09 are unlikely to have any prolonged impact on investor sentiments, said analysts

Securities transaction tax to help boost govts earnings
Despite the sluggishness in manufacturing and a lower growth projection, along with additional spending due to projected rise in food and oil prices, the government hopes to earn Rs 6,02,935 crore though tax and non tax revenues, a 14.8% rise in its earnings.

Kamath sees no rate cuts soon
The chief executive of ICICI Bank Ltd, India's biggest private-sector bank, said on Friday he did not expect the country's central bank to ease interest rates soon

Market corrections are part and parcel of long-term bull markets
The recent correction has been around 20%, while the May '06 correction was over 25%. This is not alarming as Indian equity markets have a history of sharp corrections ranging from 20-25%

The Economic Times
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Virgin Mobile enters India, partners Tata Teleservices
Sir Richard Branson decided to hang in front of a five-star hotel in Mumbai on Sunday, to announce the launch of his brand in India’s mobile phone market

Nano effect: Tatas can stand by Rs 1-lakh car promise
A 4% reduction in excise duty on small cars has augured well for the Nano, the Rs 1 lakh car of Tata Motors

It's pay-back time as FM caps mkt speculation
The increase in short-term capital gains tax and no reduction in corporate tax are sentimentally negative for capital markets

International News:
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Asian stocks savaged as dollar plumbs new depths (Reuters)
The dollar fell to a record low against a basket of currencies on Monday, dragging Asian stock markets down and compounding worries about a likely U.S. recession and more write-downs in the global financial sector

Singapore shares down on US economy worries
Singapore shares were down 2.8 per cent in opening trade early Monday over concerns about the US economy and financial sector

RK
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