Cabinet approves 5 pct govt stake sale in BHEL

Cabinet on Tuesday approved a plan to sell 5 percent of the government's stake in power gear maker

Bharat Heavy Electricals (BHEL) the government said in a statement.

A mighty fall

The government will sell 5 percent of its 67.7 percent holding in BHEL through a follow-on public share offering. At current prices, the stake is valued at about $940 million.

Saluting Steve Jobs

The stake sale is part of the government's plan to raise 400 billion rupees ($8.7 billion) through stake sales in state-run firms in the current fiscal year to March 2012.

BHEL has shortlisted Bank of America Merrill Lynch, Morgan Stanley and two Indian banks to manage the share sale, sources with knowledge of the situation told Reuters last month.

 

HINDALCO

 WE GAVE TODAY DLF 200 CALL BUY AT 5.35, IT WENT TO 7 ABOVE .WE BOOKED PROFIT AT 7.00

BOOK  PROFIT IN HINDALCO 150 CALL AT 4.50, BUY CALL WAS GIVEN AT 3.85

BUY NIFTY 5400 CALL 4 LOTS  AT 11

WE ARE HOLDING  NIFTY 5000 CALL AT 95

GANESH CHATHURTHI

HAPPY GANESH CHATURTHI  !

BUY STATE BANK OF INDIA 2000 CALL AT 64 TARGET 84- 94 STOPLOSS 44.

ABOVE 1959   IT WILL ZOOM TO 1973 -1988

KEEP STOPLOSS AT 1939

BUY DLF AT 190.50 STOPLOSS AT 188 ON CLOSING BASE. DLF ONCE CROSS 193 WITH GOOD VOLLUME IT WILL FLY TO 209 LEVEL NONSTOP.

New Delhi: Both gold and silver tumbled in the bullion market here on Monday due to heavy selling by stockists on reduced offtake at existing higher levels, triggered by a weak trend in overseas markets.

Gold plunged by Rs 600 to Rs 27,490 per 10 grams, while silver lost Rs 1,800 to Rs 62,800 per kg.
Dealers said trading sentiment turned bearish after gold declined in the global markets as the US Federal Reserve Chairman Ben S Bernanke said growth will resume. It boosted speculation that the central bank may not add more stimulus, which eroded the metal's appeal as a safe haven.

Besides sluggish demand at prevailing high levels, investors were seen shifting their funds from bullion to rising equity, which also influenced the trading sentiment, market analysts said.
Gold in global markets, which normally sets the price trend on the domestic front, traded 0.9 per cent lower at $ 1,812 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity tumbled by Rs 600 each to Rs 27,490 and Rs 27,340 per 10 grams, respectively.
The metal had gained Rs 950 in the previous trading session.
Sovereign remained steady at Rs 22,400 per piece of eight grams in limited deals.
Silver ready plummeted by Rs 1,800 to Rs 62,800 per kg and weekly-based delivery was down by Rs 1,870 to Rs 62,030 per kg.
Silver coins also fell by Rs 2,500 to Rs 69,500 for buying and Rs 70,500 for selling of 100 pieces.

GOOD BOUNCE TODAY AFTER ANNA BREAKS FAST WITH GOOD VOLUME. ABOVE 4970 IT WILL KISS 5020 LEVEL.

ITC

ITC  WENT TO 202.50 AND CLOSED AT 201.95

INFOSYS

INFOSYS ZOOMED TO  2315 AND CLOSED AT 2296. EXPECT NONSTOP RALLY UPTO 2400

HINDALCO

 BUY HINDALCO ABOVE 138 TARGET 145- 148. ONCE IF IT CROSS WITH GOOD VOLUME AND  CLOSE ABOVE 148 IT WILL FLY TO 

 155-160.

BUY HINDALCO 150 CALL AT 3.85 TARGET 5.25-6.35-7.50

 Anna breaks fast after 288 hours, nation relieved

Anna breaks fast after 288 hours, nation relieved

Anna Hazare ended his 12-day fast Sunday morning before tens of thousands of cheering supporters at Ramlila Maidan by sipping a glass of coconut water with honey offered to him by two girls.

The nation, particularly the government of Prime Minister Manmohan Singh, heaved a collective sigh of relief at the resolution of a major national cris as the 74-year-old activist ended his fast at around 10.20 a.m. He began his fast Aug 16 morning and completed 288 hours of fasting Sunday.