Soaps-to-IT services conglomerate Wipro said Karnataka High Court has approved its demerger scheme aimed at hiving-off non-IT businesses into a separated unlisted company and focus exclusively on information technology. In a filing to the Bombay Stock Exchange on March 21, Wipro said, “Hon’ble High Court of Karnataka has approved the Scheme of Arrangement for demerger of ‘Diversified Business’ of Wipro Limited as provided in the Scheme.” Earlier, in December 2012, the Azim Premji promoted company had secured shareholders’ nod for the demerger plan that involved creation of a new unlisted company—Wipro Enterprises. The new company will include Wipro Consumer Care & Lighting, Wipro Infrastructure Engineering and medical diagnostic product & services business. At 12:26 hours, shares of the company were trading at Rs 433 a piece, down 0.26 per cent from previous close on BSE.

Moreover, the company has also received orders from Transmission Corporation Of Andhra Pradesh Limited for 220 Kv underground cable laying. Further, the company holds orders worth Rs 110 crore from various ongoing jobs in the Water & Solar and Infrastructure Business, the filing added.

EQUITY FUTURE TRADING TIPS 20TH MAR 2013 IFCI CMP–27.65 TAKE FUT PROFITS ON OUR SHORT CALL GIVEN AT 28 LEVELS.

EQUITY FUTURE TRADING TIPS 20TH MAR 2013 AMBUJA CEMENT FUT CMP–178.1 TAKE FULL PROFITS ON OUR SHORT CALL GIVEN AT 180.5 LEVELS. BPP DONE AT 178.2 LEVELS.

EQUITY FUTURE TRADING TIPS 20TH MAR 2013 MC DOWELL CMP–1905.25 TRAKE FULL PROFITS ON OUR SHORT CALL GIVEN AT 1943 LEVELS, BPP DONE AT 1922 LEVELS

EQUITY FUTURE TRADING TIPS 20TH MAR 2013 LUPIN FUT CMP–629.75 TAKE FULL PROFITS ON OUR LONG CALL GIVEN AT 619 LEVELS, BPP DONE AT 626.6 LEVELS

ACE EQUITY TIPS 20TH MAR 2013 SBIN FUT CMP–2169 TAKE FULL PROFITS ON OUR SHORT CALL GIVEN AT 2195 LEVELS, CURRENT PROFIT OF RS 13000/- CALL IS CHARGEABLE.

ACE EQUITY TIPS 20TH MAR 2013  ITC FUT CMP–309.3 TAKE FULL PROFITS ON OUR LONG CALL GIVEN AT 307 LEVELS, CURRENT PROFIT OF RS 9200/- CALL IS CHARGEABLE.

ACE EQUITY TIPS 20TH MAR 2013 REL CAP 340 CALL CMP–11.35 TAKE FULL PROFITS ON OUR SHORT CALL GIVEN AT 14.65 LEVELS, CURRENT PROFIT OF RS 6600/- CALL IS NOT CHARGEABLE.

 STOCK OPTIONS TIPS 20TH MAR 2013 SAIL 65 CALL CMP–3.40 TAKE FULL PROFITS ON OUR LONG CALL GIVEN AT 2.25 LEVELS

STOCK OPTIONS TIPS 20TH MAR 2013 REL CAP 340 CALL CMP–11.2 TAKE FULL PROFITS ON OUR SHORT CALL GIVEN AT 15 LEVELS.

STOCK OPTIONS TIPS 20TH MAR 2013  ITC 340 CALL CMP–9.5 TAKE FULL PROFITS ON OUR LONG CALL GIVEN AT 8 LEVELS.

With this COD, the entire 1080 MW power project at Barmer has been fully completed and subsequently, the company’s aggregate generation capacity stands at 3,140 MW, the filing added.

Gold prices reversed its previous day’s gains, falling by 0.09 per cent on Thursday at the domestic markets as robust US economic data raised concerns that the Fed may scale back its asset purchase program, dimming the appeal of the bullion, which is a hedge against the inflationary risk of monetary stimulus. US retail sales rose by 1.1 per cent in February 2013 from the previous month, following a 0.2 per cent monthly increase in January 2013, the Commerce Department said. Further, US business inventories rose at the fastest pace since May 2011 in January 2013. Gold futures for April 2013 contract, at MCX, were trading at Rs. 29,462 per 10 grams, down by 0.09 per cent after opening at Rs. 29,470 against the previous closing price of Rs. 29,489. It touched the intra-day low of Rs. 29,447 till the trading. (At 11.29 AM today).

Moreover, stronger dollar makes gold expensive for those holding other currencies, thus reducing demand. The U.S. dollar index, a measure of the value of the United States dollar relative to a basket of foreign currencies, was trading 0.06 per cent higher at 82.935 on the Inter-Continental Exchange (ICE) at 11.30 am IST. However, losses were limited after two opposition parties in Japan supported the nomination of a pro-stimulus official as Bank of Japan’s next deputy governor, raising hopes that the central bank may bolster monetary easing to stem deflation At the Commodity Exchange (COMEX), gold future for April 2013 delivery traded at US$1,585.4 per ounce, down by 0.19 per cent. It opened at US$1,586.7 against the previous closing price of US$1,588.4. It touched the intra-day low of US$1,582.3.

Deutsche Bank sees the deal as a positive development for Tata Steel.

“Apart from gaining access to 14.3 million tones of new attributable iron ore resources located adjacent to its existing deposits, the strategic agreement will also help drive synergies in operations and logistics,” the bank says.

We are addressing not only our global clients here but also Spanish- and Portuguese- speaking markets as we drive business growth in the region. We are fully committed to Costa Rica and look forward to offering our full range of services to our clients across all industries,” Infosys BPO, Head-Latin America, Hurnberto Andrade said.

MUMBAI - Shares in Larsen & Toubro Ltd recovered and were trading around 1 percent higher after falling as much as 2.7 percent in morning trade as the World Bank barred the company from participating in any of the organization’s projects for six months.

L&T said on Saturday the World Bank sanctions were “not expected to have material impact on the Company’s present or future operations or its profitability or financials,” according to an exchange filing.

Gold prices continued its downward journey, falling for the third day on Wednesday at the domestic markets in the midst of subdued physical demand for the bullion in the domestic spot market. Gold futures for April 2013 contract, at MCX, were trading at Rs. 29,558 per 10 grams, down by 0.04 per cent after opening at Rs. 29,565 against the previous closing price of Rs. 29,569. It touched the intra-day low of Rs. 29,535 till the trading. (At 11.34 AM today). Sentiment weakened further on hopes of a strengthening U.S. economic outlook. Service sector activity in the U.S. grew faster-than-expected in February, expanding for the 38th consecutive month signaling an improving US economy.

The Institute of Supply Management said its non-manufacturing purchasing manager’s index rose to 56.0 in February from a reading of 55.2 in January. Gold futures also fell as the need for gold-backed exchange-traded funds remained soft, with the world’s largest gold ETF SPDR Gold Shares reporting a 10th straight daily outflow of bullion holdings. At the Commodity Exchange (COMEX), gold future for April 2013 delivery traded at US$1,577.8 per ounce, up by 0.18 per cent as dollar weakened against other currencies. It opened at US$1,574.9 against the previous closing price of US$1,574.9. It touched the intra-day high of US$1,579.5.

Copper prices fell by 0.46 per cent on Friday at the domestic markets after China Logistics Information Center said that Chinese Manufacturing PMI fell to an annual rate of 50.10, from 50.40 in the preceding month signaling weak manufacturing activity in China, world’s largest consumer of metal which reduced the demand outlook for the metal. At the MCX, copper futures for April 2012 contract were trading at Rs. 429.55 per 1 kg, down by 0.46 per cent, after opening at Rs. 431.20 against the previous closing price of Rs. 431.55. It touched the intra-day low of Rs. 428.50 till the trading. (At 11.17 AM today). Sentiment weakened further on reports that the U.S. economy grew at a slower rate-than-expected during fourth quarter of 2012 which signaled a weak US economy which further dampened the demand prospects for the commodity.

Bureau of Economic Analysis said gross domestic product increased at a seasonally adjusted annual rate of 0.1 per cent in the three months to December, below expectations for growth of 0.5 per cent. Moreover, Ministry of Land, Infrastructure and Transport said that Japanese Housing Starts fell to a seasonally adjusted 5.0 per cent, from 10.0 per cent in the preceding quarter signaling a weak housing market which further reduced the demand outlook for the metal. Prices also fell due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 2350 metric tons to 446700 metric tons.

However, losses in the base metal were curbed after Estadisticas de Chile said that Chilean Industrial Production rose more tan expected to 4.3 per cent, from -2.5 per cent in the preceding month and Chilean Unemployment Rate fell to an annual rate of 6.0 per cent, from 6.1 per cent in the preceding month indicating improving economy in Chile, world’s largest producer of the metal which raised the demand outlook for the metal. At COMEX, copper futures for March 2013 contract traded at US$3.5265 per pound, down by 0.59 per cent. It opened at US$3.5530 against the previous closing price of US$3.5475. It touched the intra-day low of US$3.5225 till the electronic trading.