ONGC jumps over 4% on proposal to invest Rs 100 cr for super specialty hospital in Sibsagar

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Shares of public sector oil major Oil & Natural Gas Corporation (ONGC) gained over 4 per cent in early trade on Bombay Stock Exchange (BSE) after the company announced to pump in Rs 100 crore for 300-bed multi-specialty hospital in Upper Assam's Sivasagar district. "The hospital project is aimed at bringing super-specialty medical facilit

Oil India rallies over 12% on diesel price hike

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oilShares of state-owned oil marketing company Oil India surged over 12 per cent in early trade on Bombay Stock Exchange (BSE) after the public sector oil retailer increased diesel retail prices by 45 paise a litre from Saturday. This is the second increase in diesel price since February 16th and third since January. Buoyed by development, shares of t

Hero MotoCorp up over 2% on expansion plans

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Shares of India’s largest two-wheeler maker Hero MotoCorp were trading up over 2 per cent on BSE on reports that company has set capital expenditure at Rs 1,100 crore for 2013-14 to expand its capacity and launch new models to maintain its leadership. Media reports said that capital expenditure includes an investment of Rs 600 crore on an upcom

NHPC tanks nearly 7% on corruption charges

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Shares of state-run c fell nearly 7 per cent on Bombay Stock Exchange (BSE) after government revealed that as many as 19 cases of alleged corruption and irregularities have been reported in its projects. Power Minister Jyotiraditya Scindia told Lok Sabha that the alleged corruption charges related to construction work of various projects of company du

RCFL dips nearly 3% on likely outstanding subsidy burden

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Shares of state-owned fertiliser maker Rashtriya Chemicals and Fertilizers Limited (RCFL) slipped nearly 3 per cent in early trade on Bombay Stock Exchange (BSE) on reports that the subsidy payment is likely to remain outstanding this fiscal year. The Ministry of Chemicals and Fertilizer on Thursday informed Parliament that fertiliser subsidy payment

TBZ nosedives over 15% on HSBC stake sale

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Shares of Tribhovandas Bhimji Zaveri (TBZ), an Indian jeweller and jewellery retail chain operator, plunged over 15 per cent in early trade on Bombay Stock Exchange (BSE) after HSBC Global Investments sold around 2 per cent of its stake in the company. “HSBC Global Investments Funds Mauritius has sold a total 1.27 million shares representing 1.9

MMTC tanks 5% on concerns of discounted offer-for-sale price

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Shares of state-owned trading company Metals and Minerals Trading Corporation of India (MMTC) dipped 5 per cent in early trade on Bombay Stock Exchange (BSE) on concerns of the offer-for-sale price being at a steep discount to the market price. The analysts have estimated that floor price for MMTC OFS may be fixed by the government not more than Rs 17

Kingfisher Airlines spurts over 4% after Mallya promises for revival plan

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Shares of troublesome domestic carrier Kingfisher Airlines jumped over 4 per cent in early trade on Bombay Stock Exchange (BSE) after the company’s chairman Vijay Mallya assured to pay pending salaries to employees soon. Mallya re-assured that he will personally submit the long pending revival plan to the airport regulator by next week. Riding h

Sadbhav Engineering jumps over 5% on bagging order from NHAI

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Shares of engineering and construction firm Sadbhav Engineering spurted over 5 per cent in early trade on Bombay Stock Exchange (BSE) after the company bagged a Rs 382 crore order from NHAI for widening of an 80-km stretch of NH-210 in Tamil Nadu. "The company has been declared the successful bidder in respect of the bid invited by National Highw

Bharti Airtel up over 3% on launch of 4G mobile broadband services

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Shares of Bharti Airtel spurted over 3 per cent on Bombay Stock Exchange (BSE) after the telecom major launched the fourth generation (4G) mobile broadband services in Chandigarh, Mohali and Panchkula. The country’s largest telecom operator by subscribers, which had earlier launched 4G services in Kolkata, Bangalore and Pune, is now readying to

MTNL jumps over 4% on proposal to offer sovereign guarantee bonds

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Shares of state-controlled telecom operator Mahanagar Telephone Nigam Limited (MTNL) spurted over 4 per cent in early trade on Bombay Stock Exchange (BSE) after the company said that its board will meet on March 25 to consider a proposal on raising Rs 3,000 crore through sovereign guarantee bonds. The company will raise bonds for 10 years covered by s

Balmer Lawrie soars over 10% on bonus issue plan

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Shares of state-controlled diversified company Balmer Lawrie & Company surged over 10 per cent in early trade on Bombay Stock Exchange (BSE) after the company said that its board will consider a maiden bonus issue. The board of directors of company will meet on March 26, 2013, for consideration of 'Declaration of Bonus Shares',” Balm

Tata Motors skids nearly 5% on offering discount to meet targets

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Shares of country’s leading car maker Tata Motors dipped nearly 5 per cent in early trade on Bombay Stock Exchange (BSE) after the company announced huge discounts to push sales. With sales down in February, the company is making effort to end the financial year in March on positive note by pushing sales number by availing lucrative offer to cus

SAIL slips 2% ahead of stake sale

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Shares of state-controlled steel producer Steel Authority of India Limited (SAIL) dipped 2 per cent in early trade on Bombay Stock Exchange (BSE) ahead of the government’s stake sale plan via Offer for Sale (OFS) route which will hit the markets on Friday. The government proposes to sell its 5.82 per cent stake or 24 crore equity shares in the s

Kingfisher Airlines rebounds nearly 5%

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Shares of domestic carrier Kingfisher Airlines bounced back nearly 5 per cent and locked in upper circuit on Bombay Stock Exchange (BSE) after employees asked the government to prosecute promoter Vijay Mallya and threatened to disrupt IPL matches. Frustrated over not getting salary for last 10 months, employees of the airline threatened to disrupt IPL

Aeonian Investments rallies 20% on voluntary winding up plan

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Shares of Aeonian Investments Company zoomed 20 per cent and locked in upper circuit in early trade on Bombay Stock Exchange (BSE) after it proposed a voluntary winding up of the company. “The board of directors of investment firm is schedule to meet on March 26, 2013, to consider voluntary winding up of the company,” Aeonian Investments C

Muthoot Finance dips over 6% on growth concerns

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Shares of country’s leading gold financing company Muthoot Finance tanked over 6 per cent in early trade on Bombay Stock Exchange (BSE), after analyst raised concern over profit for the March quarter. One of rival, Manappuram Finance has warned that it expect an under recovery of revenue on certain gold loan port folios due to correction in the

Manappuram Finance plunges over 13% on loan losses

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Shares of Manappuram Finance, India's Largest Listed and Highest Credit Rated Gold Loan Company, crashed over 13 per cent in early trade on Bombay Stock Exchange (BSE), after the company announced large loan losses with some investors before an analyst call. The sentiments were further dampened after the management of a leading gold financier iss

ICICI bank rebounds nearly 2% on stock upgrade by Deutsche Bank

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Shares of private sector lender ICICI bank bounced back nearly 2 per cent in early trade on Bombay Stock Exchange (BSE) after global brokerage Deutsche Bank retained its "buy" call on the stock. Among the financial pack, most of stocks were trading higher on hopes of a repo rate cut by the Reserve Bank of India monetary policy due later in t

Gammon India up over 3% on debt recast proposal

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Shares of construction and engineering major Gammon India gained over 3 per cent in early trade on Bombay Stock Exchange (BSE) on reports of talks with its lenders to recast its debt aggregating to Rs 3,500 crore through the corporate debt restructuring (CDR) route. The loss-making construction firm is likely to get a breather from the banks on debt r

SKS Microfinance spurts nearly 4% on relief from Supreme Court

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Shares of SKS Microfinance, India’s only listed microfinance firm, jumped nearly 4 per cent in early trade on Bombay Stock Exchange (BSE) after the company received an interim order from the Supreme Court to resume operations in Andhra Pradesh. The move came after SKS Microfinance approached SC against AP’s Microfinance Law which was hamp

SKS Microfinance jumps nearly 12% on SCs order in Andhra Pradesh case

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Shares of SKS Microfinance Ltd, India’s only listed microfinance firm, gained nearly 12 per cent during the intra-day trading on the Bombay Stock Exchange (BSE) after Supreme Court asked the Andhra Pradesh government not to take tough steps against the company. The move came after SKS Microfinance approached SC against AP’s Microfinance La

Sugar shares rally on hopes of decontrol; Dhampur Sugar Mill surges 8%

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Shares of sugar stocks moved up and were trading higher between 1-4 per cent on Bombay Stock Exchange (BSE) on hope that the Union Cabinet may discuss a partial decontrol of the sugar sector today. As per media reports, the Union Cabinet may discuss today the much-awaited measure to abolish the levy-sugar mechanism, under which private millers are req

Bharti Airtel down over 3% ahead of Delhi HC hearing on DoT notice

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Shares of country’s leading telecom operator Bharti Airtel dipped over 3 per cent on Bombay Stock Exchange (BSE) ahead of the Delhi High Court (HC) decision on notice issued by the Department of Telecommunications (DoT) to the company to stop 3G services in seven circles. The DoT has issued show-cause notice to telecom firm to stop 3G services w

ICICI Bank extends loss, slips nearly 3% on money laundering probe

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Shares of private sector lender ICICI Bank continued its losing streak for second day, slipping further nearly 3 per cent in early trade on Bombay Stock Exchange (BSE), on reports that bank has suspended 18 employees pending an inquiry into suspected money laundering. The bank has taken this move following a report by news website Cobrapost that purpo