SBI set up a new branch in New York.

Washington, January 26: India's largest lender SBI has received the US central bank's approval to set up a new branch in New York.
The approval for SBI comes nearly three months after ICICI Bank, largest private sector lender in the country, got approval to start its branch operation in New York.
"The proposed Jackson Heights branch (of SBI) would offer a range of banking products and services, including permissible deposit accounts and small business loans," the Federal Reserve said in an order issue late last night.
The branch would also undertake business of remittance, investment advisory and trade-related services, it said.
SBI maintains offices in 32 countries outside India and already has a branch in New York.
Besides, the Mumbai-based company has a branch in Chicago, an agency in California and a representative office in Washington.
The bank, which already had clearance from RBI for expanding its branch operation in New York, also operates a wholly-owned subsidiary from California.

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Currently some blue chip compnay at lower level.So buy this stocks for medium to long term.

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JP Hydro tgt : Rs 130

Gmr Infra tgt : Rs 300

Essar Oil tgt : Rs 350

Ispat Ltd. tgt : Rs 80

Gspl tgt : Rs 110

Religare tgt : Rs 800

Hindustan Oil Exploration Co. Ltd ( HOEC) tgt: Rs 170

Neyveli Lignite Corporation Limited tgt : Rs 240

Wockhardt Hospitals IPO Subscription on Jan 31, 2008 to Feb 05, 2008

Wockhardt Hospitals IPO price band has been fixed at Rs. 280 to 310 per share and Face Value : 10 rs.Wockhardt Hospitals is likely to emerge as the market leader since its much bigger in sheer balance sheet size when compared to Apollo Hospitals and Fortis Healthcare. Wockhardt Hospitals Limited is a part of the Wockhardt Group which already has two group companies listed and traded on the Indian stock markets. Wockhardt Hospitals IPO Subscription closes on Tuesday, February 05, 2008. Post IPO, Wockhardt Hospitals Limited will be listed on both the NSE and the BSE. Wockhardt Hospitals IPO Subscription Details and Wockhardt Hospitals IPO Allotment Status will be available here Hence do keep checking this space often.

12 hospitals at Mumbai, Bangalore, Hyderabad, Kolkatta and Nagpur, Surat and Rajkot. Several new hospitals / facilities are in the pipeline.

Annual Trends (Rs. in crore)

Year Ends (Months)	2007/03/12	2006/03/12	2005/03/12	2004/03/12
Equity Capital	50.00	50.00	25.00	6.00
Reserves & Surplus	21.30	5.76	-8.62	-9.93
Operating Income	236.48	158.68	129.10	82.25
Operating Profit	39.21	28.25	21.64	11.67
Other Income	0.22	0.49	0.13	0.08
Reported PAT	15.54	14.37	1.31	-8.66
OPM (%)	16.58	17.8	16.76	14.19
NPM (%)	6.56	9.02	1.01	-10.52
EPS (Rs.)	3.11	2.87	0.52	-14.44
Return on Networth	21.79	25.77	8.01	0

Ashok Leyland Q3 Net Up 14% In Sales

Ashok Leyland Ltd., the flagship of Hinduja Group and India's second biggest bus and truck maker. announced financial results for the third-quarter ended December 31, 2007, reporting higher net profit on marginal increase in sales, backed by higher proportion of fully built vehicles as also larger volumes in engines and spares sales.

The Chennai-based company posted third-quarter net profit of Rs.120.22 crores, up 14% from Rs.105.26 crores in the third-quarter of 2006.

The company's net sales during the quarter increased marginally to Rs.1,800.08 crores from Rs.1,775.59 crores in the year-ago quarter. Other income during the quarter, helped by sale of shares in IndusInd Bank Ltd., was Rs.43.70 crores, compared to Rs.6.35 crores in the prior year quarter.

Nine Months Results
For the first nine months, the company's net profit increased 7% to Rs.288.74 crores from Rs.269.77 crores for the comparable period a year-ago. Total income rose 6% to Rs.5,229.51 crores from Rs.4,931.08 crores in the corresponding period last year.

BSE Code : 500477 NSE Code : ASHOKLEY Industry : Auto - LCVs/HCVs

Satyam Computer lists on Euronext

IT firm Satyam Computer Services Ltd today announced that it has listed its American Depositary Shares (ADSs) on Euronext Amsterdam, which is part of New York Stock Exchange Euronext.

The listing and trading of the ADSs on Euronext Amsterdam commenced on January 23, 2008 at 12.30 p.m. Satyam's ADSs are also listed on the NYSE, the company said in a filing to the Bombay Stock Exchange.

The listing makes Satyam the first company to be listed on each of the NYSE, Euronext Amsterdam and India's National Stock Exchange (NSE). NYSE owns a 5-per cent stake in the NSE.

BUY to ITC for target Rs 242

ITC for a target price of Rs 242, an upside of 14 per cent to the market price of Rs 213 considered by the brokerage.

ITC reported sales of Rs 3,460 crore in October-December quarter of 2007 as against the brokerage's estimate of Rs 3,580 crore. Profit after tax was Rs 830 crore against the estimated Rs 797 crore. Other income increased from Rs 69.8 crore to Rs 137.4 crore, led by higher yield on treasury investments in debt instruments.

CRISIL assigns highest IPO grade to Acme Tele Power Ltd

Proposed public issue of 17,283,580 equity shares of face value Rs 2 targeted at an issue price in the range of Rs 800 to Rs 950 per share

For the year ended March 31, 2007, ATPL reported a net profit of Rs.2.30 billion on a turnover of Rs.6.43 billion, as compared with a net profit of Rs.1.16 billion and revenues of Rs.3.85 billion in the previous year.

CRISIL has assigned a CRISIL IPO Grade "5/5" (pronounced "five on five") to the proposed initial public offer of Acme Tele Power Ltd. (ATPL). This grade indicates that the fundamentals of the issue are strong relative to other listed equity securities in India.

ATPL, incorporated in January 2003, was promoted by Mr. Manoj Upadhyay. The proposed IPO is in the form of an offer for sale of 17.3 million shares by the promoters. Subsequent to the IPO, the promoters' stake in the company will reduce to 84.6 per cent from 94.7 per cent.

At the core of ATPL's offering to customers is a packaged solution, 'Green Shelter', consisting of: - A fibreglass reinforced plastic or a nano-cooled enclosure that houses the BTS and other electronic equipment at cell sites- A power management system called the power interface unit- A thermal management system with phase change material, and- Two air conditioners.The utility of each of these products is distinct, and therefore the company also sells them individually.