Insurance companies lap up NMDC stock
Shares of NMDC, a state-owned iron ore producer, have rebounded from recent lows. There is talk that insurance companies, both private and public sector, have lapped up the stock in recent sessions amid speculation that the company could move to quarterly pricing in line with the recently-introduced global practice. Grapevine has it that an insurance major has bought the stock, when it fell to around Rs 283 last week. On Tuesday, the stock rose 1.6% to Rs 303.20.
Bears seen sniffing around SBI counter
With the market on an uptrend, bears are looking for some stocks they can safely short sell, without losing much sleep. After a quick reading, this group appears to have arrived at the consensus that State Bank of India best fits the bill. The recent RBI rule that banks should pay interest on savings deposits on a daily basis, is expected to pinch SBI the most, as the bank has the most number of savings accounts, so feel the bears. Grapevine is that the Old Fox, and the owner of the Big ‘Bang’ brokerage are said to be among those building short positions in the stock.
Religare’s banking unit on a poaching spree
The investment banking and institutional broking arm of Religare Enterprises continues to aggressively ramp up its senior level, even as rivals are amazed at the salaries being offered by the Delhi-head quartered financial services firm. The company, which has in the recent past poached key personnel from foreign brokerages to beef up its talent pool, is once again looking in that direction for its new strategist. The buzz on the Street is that the new hire is the second in command of the research team at a leading investment bank which claims to have trouble getting sleep.
Networth’s Satish Pasari moves to rival firm
Satish Pasari, who heads the institutional business at BSE-listed Networth Stock Broking, is said to have put in his papers, and will shortly be joining a rival firm. The low-profile Mr Pasari is said to have been instrumental in setting up the retail, wealth management and institutional businesses of the brokerage. When contacted, Mr Pasari declined to comment. Networth had recently hired around two dozen professionals in sales, dealing and research to spruce up its presence in the derivative and quant-trading segments.
(Contributed by Nishanth Vasudevan, Santosh Nair, Deeptha Rajkumar & Apurv Gupta)
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Top 5 picks | Mid-term picks
Top 10 Equity Funds in 2009-10
Nifty to trade in 5200-5400 range
Godrej Consumers should make a new 52-week high: Devangvisaria.com
Mahindra & Mahindra, Escorts look very promising: Angel Broking
This year is going to be exceptional for TVS Motor: Angel Broking
Expect modest correction: CLSA
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New teen CEOs | Gen Y CEOs | World's top 10 billionaires
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Bull's Eye: Stocks to buy today
Everyday, on this special segment, Bull's Eye, CNBC-TV18 brings you trading/investing calls from investment analysts. Today, we bring you calls
from:
Mitesh Thacker, Technical Analyst, miteshthacker.com.
Investment Advisor, SP Tulsian.
Mitesh Thacker, Technical Analyst, miteshthacker.com.
Buy MTNL with a target of Rs 83
Buy IFGL Refractories with a target of Rs 67
Buy Rel Comm with a target of Rs 186
Investment Advisor, SP Tulsian.
Buy Lloyd Electric with target of Rs 80
Buy ITD Cementation with target of Rs 255
Buy KNR Constructions with target of Rs 182
Buy Essar Shipping with target of Rs 100
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Daily News Roundup - Apr 7 2010
Not in the best of health!
Aditya Birla Chemicals
Src: ET and DP blog etc