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Hero Honda Motors Ltd (HHML), the world’s largest two-wheeler manufacturer, today reported an impressive bottom line growth to match its robust top line performance during the first quarter (April-June) of the financial year (FY) 2008-09.

Technical Analyst, Ashwani Gujral is of the view that ICICI Bank has target of Rs 725.

Gujral told CNBC-TV18, “In ICICI Bank one can use Rs 554 as a support and probably look at targets of Rs 648 in case that is crossed probably Rs 725. But I do not see it going pass Rs 725 in the short-term.”

Technical Analyst, Ashwani Gujral is of the view that Unitech has support at Rs 136.

ABG Shipyard has declared its results for the quarter ended June 2008 (Q1). The company’s net profit was at Rs 47 crore versus 33.4 crore.

The company’s Q1 total income was at Rs 280 crore versus Rs 206 crore.

Asit C. Mehta has come out with a research report on Nu Tek India’s IPO. It has recommended investors to ignore the issue.

CLSA has kept buy rating on ICICI Bank ; with a target of Rs 840

Citi has kept buy rating on GSPL; with a target of Rs 79

Morgan Stanley has maintained underweight rating on Kotak Bank; with a target of Rs 370

Karvy Stock Broking has maintained its buy rating on Oil and Natural Gas Corporation with a target price of Rs 1500 in its July 30, 2008 research report. “ONGC’s Q1FY09 results reflect the buoyant crude oil price trend, but only partially as it has also borne huge subsidy burden. Still, the results are impressive with 43.0% YoY growth in adjusted net profit to Rs 65,929 million.”

Reliance Natural Resources, RNRL was quoting at Rs 92.70, up Rs 3.05, or 3.40%. It has touched an intraday high of Rs 93.80 and an intraday low of Rs 90.50.

There was a block deal of 23.93 lakh RNRL shares on NSE at Rs 92.75 per share.

Jai Balaji Industries Limited have once again posted impressive results for the quarter ended 30th June , 2008. Total Income for the quarter was Rs 470.74 crore as compared to Rs 252.79 crore in the same period last year, reflecting an increase of 86 %. The profit before tax and net profit for the quarter were Rs 60.55 crore (Rs 35.79 crore) and Rs 46.30 crore (Rs 23.59 crore) respectively, showing a hefty increase of 69% and 96 % respectively. The earning per share has gone upto Rs.9.82 for Rs.5.01 quarter on quarter basis.

CESC has decalred its first quarter results. The company’s Q1 standalone net sales were up at Rs 783 crore versus Rs 717 crore.

Its standalone net profit was up at Rs 94 crore versus Rs 82 crore.

Kolte-Patil Developers has declared its results for the quarter ended June 2008 (Q1). The company’s net profit was at Rs 29.8 crore versus Rs 42 crore.

The company’s net sales were at Rs 72.5 crore versus Rs 135.7 crore.

Portfolio Manager, PN Vijay is of the view that among the rate sensitive, real estate is the most bearish.