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The government is considering a proposal to divest some of its stake in Manganese Ore India Ltd (MOIL) through a share offering in the stock market. Currently, the unlisted company is 81.57 per cent owned by the central government, while the remaining stake rests with governments of Maharashtra and Madhya Pradesh – 9.61 per cent and 8.82 per cent, respectively.

Syndicate Bank is to declare first quarter results. According to CNBC-TV18, the company’s net profit is expected to go down 38.49% from Rs 221.03 crore to Rs 135.95 crore.

Its net interest income is seen down 1.64% from Rs 546.99 crore to Rs 538 crore.

Bank of Baroda is to announce its first quarter results. According to CNBC-TV18 estimates, the company’s Q1 net profit is seen down 12.73% from Rs 330.84 crore to Rs 288.71 crore

Vibhav Kapoor of IL&FS Investsmart is of the view that one can buy stocks in capital goods sector at lower level as long term is still good for it.

Bhushan Steel has announced its FY08. The company’s consolidated net sales were at Rs 4,205.3 crore. Its consolidated net profit was at Rs 423.8 crore.

Vibhav Kapoor of IL&FS Investsmart is of the view that one should accumulate banking stocks gradually at every downtrend. One should invest in attractively priced PSU Banks gradually, he added.

Rural Electrification Corporation, REC has declard its first quarter results. The company’s standalone net sales were at Rs 995.8 crore.

Its standalone was net profit was at Rs 272.6 crore.

Source : MoneyControl

Rahul Mohindar of Viratechindia is of the view that one can hold Polaris Software Lab with stoploss at Rs 90.

Sun TV has announced its first quarter results. The company’s Q1 net profit was at Rs 102 crore.

its total income was at Rs 240 crore.

Source : MoneyControl

Wockhardt has announced its second quarter results. The company’s Q2 consolidated net sales were at Rs 935 crore versus Rs 630.3 crore, YoY.

Its consolidated net profit up at Rs 105.8 crore versus Rs 102.4 crore, YoY.

Source : MoneyControl

Sun Pharma has announced its first quarter results. The company’s Q1 net profit was up at Rs 280.8 crore versus Rs 225.4 crore, YoY.

Its net sales were up Rs 670.8 crore versus Rs 508.8 crore.

Source : MoneyControl

The rupee closed lower on dollar demand from oil companies and foreign funds. But, bouts of profit taking prevented a sharp fall in rupee.

The spot rupee finished lower at Rs 42.54 per USD as against its previous close of Rs 42.26.