Monday, December 10, 2007

Buy Rain Calcin



For tomorrow’s trading buy Rain Calcin , TTML ( Tata Tele service) and Ashok Leyland for quick gains. News reports say that Tata Teleservices is to file a petition against DoT in TDSAT. The petititon will challenge DoT's 2:1 spectrum allocation for CDMA operators. Tata Teleservices had applied for GSM spectrum for 20 circles. The petition will also challenge GSM operations for spectrum in excess of 6.2 MHz. The petition will ask DoT to continue processing CDMA applications.

Huge negative news for Eicher Motors. Eicher Motor says that there are no plans to list Volvo JV Company, reports CNBC TV18. Eicher is going to hive off its CV Assets & Component business to the new JV company. In addition Volvo is going to acquire 8.1% stake in Eicher Motors. Volvo will transfer the entire truck & bus operations valued at $ 75 million to the JV. Volvo is going to contribute $ 275 million in cash to the JV. So, Volvo will own 50% via direct & indirect holding in JV & Eicher Motors.

And now, Eicher Motors has announced that the Volvo JV company will not be listed, Volvo shall remain as a holding company. Also, there won't be value unlocking of the new JV company. Thus, making the deal only a transfer of a segment by Eicher to Volvo. Today at NSE the stock exhibited huge volatility with intra day High and low of Rs. 644 and Rs.446 and settled at Rs.477 . Stay away from the stock for time being.

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Posted By R John Christy at 6:14 PM Labels:

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