Infosys, inflation drag Sensex 310 points lower

Today’s major focus was on Infosys Technologies’ earnings, which came in below Street’s expectations. Results of the Information Technology (IT) major disturbed the sentiments and led the markets to witness a steep fall. IT stocks were the biggest losers, which kept markets under pressure all throughout the day. A spike in inflation for March also spooked markets, raising expectations of further rate hikes; this led to a fall in the banking stocks.

The Sensex began the session 27 points lower at 19670 and in no time hit the day’s high of 19701. Later, the index traded lower and extended losses to hit the day’s low of 19337 in early afternoon session. Weakness in IT pack led the Sensex to post heavy losses and remain under pressure. The Sensex tumbled by 310 points to settle at 19387 and the Nifty fell by 87 points to close at 5825.

GVK Power gains on buzz of deal with Hancock

The shares of GVK Power & Infrastructure surged over 4%, hitting the monthly high of Rs30.55, on reports that the company is in talks to buy two Australian coal mines owned by Hancock Prospecting in a deal worth $8.4 billion. Up till now, over 19.72 lakh shares have traded on the BSE as against the two-week average volume of 14.45 lakh shares.GVK and Hancock had entered into an exclusive arrangement for negotiations that would continue till the middle of next month. To organise the initial funds, GVK has approached some foreign and Indian banks.

What experts says? on Dena Bank

Buy Dena Bank with a 3-4 day target of Rs 118 and stop loss of Rs 108, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 111.35, up 0.2% on the BSE

What experts says?

Pradeep Pandya says, BUY Delta Corp Ltd. @ Rs90.65 with a target of Rs.101 and stop loss of Rs.87, on CNBC Awaaz

Bulls March! Markets up 9% as FIIs pump money

The FIIs played a prime role in lifting the markets higher. The FIIs have bought Indian stocks worth a net of Rs6,897.5 crore in March as compared to net sell of Rs4,585.8 crore seen in February. The local investors continued its buying trend in March as they purchased Indian shares worth a net of Rs22 crore as against net buy of Rs1,436.4 crore seen in February.

Voltas surges on raising stake in JV firm

Voltas shares rose over 4% in early trade, touching the monthly high of Rs187.70, after the company bought additional 11% stake in Lalbuksh Voltas Engineering Services from its joint venture partner Lalbuksh Contracting and Trading Establishment for Rs6.65 crore.
Following the stake hike, Lalbuksh Voltas Engineering Services has become a subsidiary of Voltas effective March 31, 2011. Voltas now holds 60% stake in Lalbuksh Voltas Engineering Services from 49% earlier. Lalbuksh Voltas Engineering Services is engaged in the business of water and oil drilling, water management and landscaping in Oman.

Fortis takes over Oasis Hospitals cardiac centre in Srilanka

Fortis Malar Hospitals said it has taken over operations and management of cardiac centre at 170-bed Oasis Hospitals in Sri Lanka.
Fortis Malar Hospitals, which is a subsidiary of Fortis Healthcare (India), did not give any details of the financial involved.'We are happy to expand our presence in Sri Lanka and in partnering with Oasis Hospital. This addition is in line with our strategic objectives to expand our reach and provide access to quality healthcare to communities at affordable costs,' Fortis Healthcare (India) Zonal Director Krish Ramesh said.
The Colombo-based centre has been renamed as 'Fortis Oasis Cardiac Centre', Fortis Malar Hospitals said.
The cardiac centre will be fully equipped to cover all aspects of cardiac care ranging from prevention, diagnosis, treatment and rehabilitated cardiac care.

News on Unity infra:Expecting 1000-1500 cr worth orders this fiscal: COO, Unity Infra

 The stock has not performed well in the last month or so but I think that is true of the sector in general. As far as the order position currently goes this year we have already added 1000 crore of orders this fiscal to date plus we as a lowest bidder in another 500 crore of orders which we expect to materialise shortly.

What experts says? Unity Infra showing strenth; target Rs 102 in short term: Hemant Kale,MD,Maia Financial Services

Unity Infra, of course, has been beaten down quite a lot and the primary intermediate trend is currently down but on the shorter term, the chart is definitely showing some signs of strength. It is picking up well. On the shorter term, the price target is around Rs 102 level where profit booking can be done by a short-term player but longer-term players can definitely stay put in this stock.

4 Stocks For Next Week

Unity Infraprojects Ltd,
Cmp:67.15,
Action:Buy,
Target:150.
Delta Corp Ltd,
Cmp:85.80,
Action:Buy,
Target:125.
Fortis Healthcare Ltd,
Cmp:156.65,
Action:Buy,
Target:---
Denabank Ltd,
Cmp:106.30,
Action:Buy,
Target:150.

FIIs propel markets to new highs this week

The Indian markets maintained its uptrend for the second week in a row. Strong buying by foreign institutional investors (FIIs) played a major role in boosting the markets. Positive global cues and a decline in food inflation provided further support. The markets witnessed good rollovers on March F&O expiry day. The key indices attained new highs this week on the back of robust FIIs, with the Sensex crossing 19400 levels and the Nifty above the 5800 mark. The Sensex fluctuated around 775 points between a high of 19575 and a low of 18800 and closed the week at 19420, higher by 605 points or 3.21%. The Nifty swung about 229 points and ended the week at 5826, up 172 points or 3.04%

Voltas plans new investments

Voltas said a limited liability company-Voltas Oman LLC-was incorporated in the Sultanate of Oman with an initial capital of Omani Royal 500,000 to be held in the proportion of 65% by Voltas Group and the balance 35% by Mustafa Sultan Group.The JV will engage in the business of executing electro-mechanical projects in the Sultanate of Oman, it said.In May last year, a memorandum of understanding was executed between Voltas and Mustafa Sultan Group to form a joint venture in the Sultanate of Oman, after completing the lega procedures Upon receipt of requisite approvals and capital contribution from both the joint venture partners, the board of Voltas Oman LLC has allotted shares totaling Omani Riyal 500,000 to the joint venture partners in the aforesaid proportion, whereby Voltas Oman LLC became a subsidiary of Voltas effective March 27, 2011.

Punj Lloyd clinches a Rs 735 crore BOT Annuity project from NHA

 Punj Lloyd Group subsidiary, Punj Lloyd Infrastructure Limited (PLIL), which has been set up for implementing Infrastructure Development projects,  announced that it has received a Letter of Award from National.Highways Authority of India (NHAI) for upgradation of NH-31 from Khagaria to Purnea in Bihar to a two-laned, undivided carriageway with paved shoulders, under the NHDP III (National Highways
Development Programme – III) on BOT Annuity basis.  The estimated cost of the project is Rs 735 crore. The scope of work involves Design, Build, Finance, Operate and Transfer of the 140 km section of the National Highway. PLIL will form a Special Purpose Vehicle (SPV), which will be signing a Concession Agreement with NHAI for 17 years and will be entitled to semi annual annuities of Rs 56 crore

Markets on a uphill after 3-day fall

It was a stable day for the Indian market which, on positive cues from the US and Asia, traded firm on the back of buying in most sectors, but more particularly in realty, pharma and infrastructure. Frontline stocks led the gainers in today's session but the market, however, gave up some gains in afternoon trade and closed off the day's high. Sensex shut shop at 17988, up 149 points and Nifty at 5413, up 49 points from the previous close.

Jyothy Labs to turnaround Henkel biz

The Mumbai-based Jyothy Laboratories, which last week acquired a 14.9% stake in Henkel India, is looking to aggressively turnaround the business if it triumphs in its bid for parent Henkel AG's 50.97% in the Indian unit.
Jyothy Laboratories's Vice-Chairman Ulhas Kamath said the firm was looking to turn Henkel profitable in a year or two. 'It has to happen as quickly as possible. For that we will use every lever possible from manufacturing to distribution to brand-building,' he said.Mr Kamath admitted that Jyothy Laboratories would have to invest substantially in the first year to revive the health of the business, something that has made investors jittery since the 14.9% acquisition last week.

Jyothy Labs rises on buying Diamond Fabcare

Jyothy Laboratories' arm Jyothy Fabricare Services acquired 100% stake in Delhi-based laundry player Diamond Fabcare to enhance presence in the northern market.
Reacting to this, the shares of Jyothy Laboratories gained over 4% to touch the day's high of Rs208. Till now, over 0.42 lakh shares have traded on the BSE as against the two-week average volume of 1.12 lakh shares.

4 Stocks For This Week

Voltas Ltd,
Cmp:157.60
Action:Buy,
Target:---
Shakthi Pumps India Ltd,
Cmp:128.85,
Action:Buy,
Target:----
Punj Lloyd Ltd,
Cmp:61.60,
Action:Sell.
Jyothy Laboratories Ltd,
Cmp:196.70,
Action:Buy on dips
Target:---

Vodafone leads in number portability

Vodafone's India unit has so far gained the most following India's move allowing mobile users to retain their numbers even when they switch carriers, data from an industry body showed on Friday (March 18, 2011).
But, mobile number portability (MNP), which was launched in a northern state in late November and nationwide from January 20, was not a 'game changer' for the industry, the Cellular Operators Association of India (COAI) said in a statement.
The COAI said less than 5 million subscribers, or less than 1% of the country's total customers, had opted to switch carriers.
Of these, a net 192,761 customers switched to India's third-largest mobile carrier Vodafone Essar, while sixth-ranked Idea Cellular was next, with net gains of 150,789 customers.
Top mobile operator Bharti Airtel gained a net 148,215 customers in MNP, but No. 2 Reliance Communications was a net loser of 306,417 customers, data showed.
With 771 million mobile subscribers as of January, India is the world's second-biggest market for mobile services and with monthly additions averaging 19 million in the past one year, it is the world's fastest growing market.

RIL drags Sensex 150 points lower

The Indian markets turned red after positive opening as losses of 4% in index heavyweight Reliance Industries led to major decline. Oil & gas, technology and banking stocks were under pressure while some buying was seen in auto, metal and consumer durables.

MindTree loses Japanese contract; stock slips 5%

The shares of MindTree declined by 5% and hit the 52-week low of Rs355, after the company lost contract from Japan based Kyocera. So far, 0.11 lakh shares have traded on the BSE as against the two-week average volume of 0.21 lakh shares.