Gold See The High

Gold See The High

Gold (Aug) High of 12310 Today
Our 2nd Tgt is 12310
What a accuracy
Our Call Was (Buy Gold(Aug) above 12215 Tgt 12280/12310 SL 12165)


Silver also goes upto 24200 Enjoy
Our Call Was (Buy Silver(July) above 24070 Tgt 24270/23360 SL 23940)

Mcx Intraday

Buy Gold(Aug) above 12215 Tgt 12280/12310 SL 12165

Buy Silver(July) above 24070 Tgt 24270/23360 SL 23940

LME

LME STOCK COPPER: DOWN -950 ZINC: DOWN -675 ALUMINIUM : DOWN -1475 NICKEL: DOWN -102 KEDIA LEAD: UP 975 06/06/2008 13:30

United Spirits Ltd

United Spirits Ltd has informed BSE that the Scheme of Amalgamation of Shaw Wallace & Company Ltd and Primo Distributors Pvt Ltd with the Company ("the Scheme") has been sanctioned by the Hon'ble High Court of Karnataka at Bangalore on May 29, 2008, in relation to the company petition filed by the Company. The Scheme is now pending sanction of the Hon'ble High Court of Calcutta and Hon'ble High Court of Bombay in respect of Shaw Wallace & Company Ltd and Primo Distributors Pvt Ltd respectively.

Centurion Bank of Punjab

Centurion Bank of Punjab, CBoP will be suspended from exchanges after trading today as the bank has merged with HDFC Bank. CBoP had got approval from the Reserve Bank of India for the Scheme of Amalgamation with HDFC Bank with effect from May 23, 2008.June 16, 2008 has been fixed as Record Date for the purpose of determining the eligible shareholders of Centurion Bank of Punjab to whom equity shares of HDFC Bank will be allotted as per the Scheme

HEG Ltd

HEG Ltd has approved expansion of capacity from current level of 60,000 tonnes per annum (TPA) to 80,000 TPA at estimated investment of Rs 190 crore at its graphite plant at Mandideep. The capacity expansion will be done by way of brownfield expansions and de-bottlenecking of the existing capacities with an estimated cost of Rs 190 crore which is 40 per cent less than the expansion undertaken two years ago. The new capacity will be operational by the last quarter of 2009. The company proposes to fund its expansions mainly through internal accruals.

Spice Jet

Anil Ambani group eyeing SpiceJet - report
(Reuters) - India's Anil Dhirubhai Ambani group (ADAG) has begun talks to buy low-cost carrier SpiceJet, the Mint daily reported on Friday, without attributing any source.

Kingfisher Airlines and Jet Airways Ltd are also in the race to buy SpiceJet, which is looking to raise funds, the newspaper said.

Inflation

inflation 8.24

BGR Energy

BGR Energy Systems said its oil & gas division has bagged a contract worth $9.29 million for manufacture of 70 oil product storage tanks for Aumara oil products depot in Iraq.

Market Rumours

Rumours That PNB would be bidding For bid For IFCI at 94 rupees

JPT Freeze

JPT Freeze Again
CMP 80.35

Nifty Index Futures up 36 points at 4705 on SGX (Singapore Exchange) at 9:45am

News 6-Jun

Headlines for the day
6-Jun-08
Corporate News Headline
M&M signed an agreement to acquire Italy´s Engines Engineering SpA for an undisclosed sum. (ET)
Sun Pharma purchase of dosage form manufacturing operations of the US-based Able Labs for USD 23.15 mn. (BS)
ONGC would supply 0.5 MT standard cubic meters per day of gas to North Eastern Electric Power Corp´s gas-based power plant at Monarchak in Tripura. (BS)

Economic and Political Headline
India´s central bank governor, Yaga Venugopal Reddy, expressed that the prospects of higher farm output and curbs on food exports would help to contain inflation, playing down chances of an interest rate increase. (BS)
In order to contain non-plan expenditure, the Finance Ministry issued the guidelines on austerity measures to be absorbed by the central govt departments by asking them to effect a mandatory cut in non-plan expenditure. (BS)
The European Central Bank and Bank of England left their key interest rates unchanged at 4% and 5%, respectively, though the concerns over inflation continue to preoccupy bank officials. (WSJ)

Mcx Close 5-Jun

5-Jun-08
CLOSING RATE:- CRUDE:-5398,GOLD:-12180,SILVER:-24007,COPPER:-335.8,ZINC:-84.2,NICKEL:-986, LEAD:-84.05,NATURAL GAS:-533.3