BREAKING NEWS

BREAKING NEWS: Banking giant Citigroup says it will sell its India retail banking operation and some of its affiliates to one of the largest European Bank. News from close sources reveral HSBC (Asia-Pacific) could be in the race leading for complete Indian Operations buy out. The deal could be worth Rs33,139 crore plus.

Reliance Industries Hires 17 Banks to Arrange $1 Billion Loan

BREAKING NEWS

BREAKING NEWS:After American Express and Bank of America, Citibank is likely to become the third American Bank to Sell its Banking operations in India-this is a result of Citigroups financial problems in the US, and follows its $ 7 bn sell-off of european operations.

israel attack prepration on iran make europe mkt down by 1% frm high n so the our mkt too.. these days, news n rumours change technicals to opposite side in seconds.. i want tht these news channels should be banned in mkt hours(osi) BETTER SIT BACK AND WATCH. EXIT ALL UR POSITIONS. BE IT BEAR OR BULL.from a frn!!!!!!!!!!!!!!!

MADHUCAN PROJECTS

MADHUCAN PROJECTS GET AN EPC ORDER WORTH 9.89 BILLION (mkt info)

Infosys

Infosys Shares Fall in Mumbai After Morgan Cuts Rating on Demand Concerns Infosys Technologies Ltd., India's second-largest software-services provider, fell in Mumbai trading after Morgan Stanley downgraded the stock on concern that demand from U.S. customers may slow further

News 14-July

14-July-08
News

Headlines for the day

Corporate News Headline
BHEL bagged a contract worth Rs. 217.5 mn to set up a 600 MW thermal power plant in the southern state of Tamil Nadu. (ET)
Tata Steel is planning to acquire an iron ore mine in Western Australia, which has billions of tonnes of reserve of the commodity. (BS)
JSW Steel would explore the possibility of importing iron ore from its mine in Chile and sell it in the local market. (BS)

Economic and Political Headline
The WPI based inflation rate for the week ended 28 June rose to 11.89%, as against 11.63% in the previous week, due to an increase in the prices of primary goods and manufacturing products. (ET)
The growth in the IIP during May, 2008 slipped to 3.8%, as against 10.6% in the same month of 2007. (BS)
The US trade deficit unexpectedly shrank 1.2% to USD 59.8 bn in May from a revised USD 60.5 bn in April as the cheaper dollar spurred gains in exports, helping make up for the soaring cost of imported oil. (Bloomberg)

Walchandnagar Industries Ltd

Walchandnagar Industries Ltd is engaged in the business of manufacturing of Heavy Engineering Products, Foundry & Machine Shop and Others. The Heavy Engineering segment is the major business segment of the Company registering 88.2% of its sales during the fiscal year ended September 30, 2006. Other segments include the unit at Dharwad (India) for manufacturing pressure and temperature gauges and sector mechanisms; Walchand InfoTech services division, and hospitality business.

Net sales went up to Rs. 163 Cr as compared to Rs. 157 Cr on YOY basis a 4% growth. Its net profit went up 38% YOY during Q4FY08.

WIL will be one of the major beneficiaries of Indo-US Nuclear deal passed recently as it will open up new growth avenues in nu}