Friday, March 6, 2009

Stocks in action for the day: Tata Motors, Satyam, Maruti, Sobha Dev, Wall Street Finance and Hotel counter to be under pressure.

Tata Motors for down: S1: 136, S2: 132, S3: 127, R1: 145, R2: 150, R3: 154
Moody's on Tata Motors: -Downgrades Tata Motors' rating to B3 from B1
-Says Tata Motors' rating outlook remains negative Agreement between JLR, unions to cut costs & save jobs finalised JLR may get $1.25 billion lifeline from UK government as part of auto package.

Selling pressure continues in Satyam: S1:33.7, S2: 32.3, S3: 29.7, R1: 37.6, R2: 40.2, R3: 41.6

Satyam: -Nissan, Pfizer may exit Satyam, invite bids from other vendors. Sundaram says will continue to oppose appt of IL&FS in Maytas Infra board

Action seen in Sobha Developers: S1: 76.4, S2: 73.5, S3: 70, R1: 82.8, R2: 86.3, R3: 89.2

Sobha Developers promoters may sell 26% stake to raise Rs 600 crore

Price War keeps Maruti in action:
S1: 654, S2: 641, S3: 618, R1: 690, R2: 713, R3: 727
Maruti likely to cut price of Alto to take on Nano, but mark down only in 2010.

In Focus: Wall Street Finance:
S1: 46.2, S2: 44.8, S3: 42.7, R1: 49.7, R2: 51.8, R3: 53.2
ADAG set to take control over Wall Street Finance

Hotel counter to be under pressure. Hotel Leela, East India Hotel & Taj GVK

Hotel occupancies fall 58%, room rates 14% - Citigroup report

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