New feature : Stock in news

ACE to debut today on NSE & BSE
Action construction equipment is listing today on NSE & BSE. The shares were alloted at a price of Rs. 130 per share. The issue price is at a P/E multiple of 14. The competitors are quoting at a P/E multiple of 19-24. Investment guru expexts the listing to be in range of 180-200. Any price above 200 shoould be must sell scenario. Investors are advised to book profits on listing.

HFCL
US-based CDMA patent-holder Qualcomm has entered into an agreement with Himachal Futuristic Communications Ltd (HFCL) for developing, manufacturing and selling 3G-enabled CDMA mobile handsets in the country. HFCL is expected to begin manufacturing from April 2007 at its facilities in Solan (Himachal Pradesh) and Chennai. Agency reports quoted HFCL chairman Mahendra Nahata as saying that 4 million devices (a combination of mobile handsets and fixed wireless devices) will be produced in the first year of the agreement

UTI Bank
The bank has firmed up its plan to enter into life insurance biz. UTI Bank had invited most of the private insurance companies to make presentation for a possible partnership. LIC has stated in an communicaton to the Bank board that it should be first considered as a partner.

Pantaloon Retail
The stock is in news on talks of a stock split. Patloon has also been reorganising itself as the leader in retail segment and is posing itself as a nearest competitor to the proposed Reliance retail. The stock is also a good bet in retail spcae considering its growth strategy.