Buy Reliance Petroleum at current market price of Rs.175 for short term target of Rs.210.

Reliance Petroleum Ltd has informed exchange that a meeting of Board of Directors of Reliance Petroleum Ltd company will be held 16^th of October 2007 to consider , the disclosures as required under clause 41 and 43 of the listing contract for the last ended quarter. Currently company is growing up and its market price will also touch new peak.

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The BSE’s 30-share Sensex index rose 0.7% to 17,013 points for the first time in opening trade on 26 September led by gains in banking and technology shares. This leaves a hope of high quarterly earnings and continuous overseas fund flows, said dealers. While National Stock Exchange, the 50-compay S&P Nifty index rose 0.5% to 4,964 points in early trade.

Today is the seventh day in the row when the market has witnessed an upward curve led by record overseas fund flows at $11 billion for the year against a setting of continual economic growth of over 9%. Sensex took five sessions to reach from 16,000k to 17,000.

The rise in Oil Index by up 9.5%, CapGoods by 4.63% and Realty by 7.3% buoyed the markets. The biggest Index contribution for the rise in markets goes to RIL at 360 pts and Bharti at 133 pts. The rise from 16,000 was the fastest-ever 1,000-point gain for the Sensex.

The Indian Share jumped 250 points to touch another peak of records after opening on Monday.

The Bombay Stock Exchange (BSE) rose 170 points (1.02%) to close 16,174 while The National Stock Exchange (NSE) was up 0.6.

Gail(India) was up 6% to 373 rupees. Gail(India) sees that its transport business  would increase about 50% till the next financial year.

Ambuja Cement share was down about 1% to 145.50 which is planning to invest 7 billion rupee in Himachal  Pradesh  State to increase its business.

Tata Tea was up 1.75 at 798 rupee on buzz.
Hindustan Petroleun Corp Ltd (HPCL) was trading up 2.48% to 256 rupees.

Bharti Airtel  Company  getting additional spectrum with Vodafone Essar in Mumbai and Delhi  after this report it’s share jumped 2.36% to 940 rupees.

Wipro and Tata Consultancy Services Ltd  share were down 0.6 pct.

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Bombay Stock Exchange (BSE) has closed at 15504.43 lower with 99.37 as well as National Stock Exchange (Nifty) go down 23.35 and closed at 4494.65.Meanwhile BSE Mid cap and Small Mid cap little jumped with 18.37 and 67.47, it closed at 6,915.37 and 8,640.23 respectively. Indian Stock Market was more strong with 1380 stocks advanced.

BSE Bankex index go down by 45.34 points and closed at 8,090.77 such as Andhra Bank (1.52%), PNB (0.83%), SBI (0.42%),ICICI Bank (1.37%), and Oriental Bank (1.95%) closed in green.

BSE IT Index fell by 61.88 points, it closed at 4,387.26 as Patni Computer (2.21%), Wipro (0.18%), Satyam (1.97%), Infosys (1.35%) and TCL Ltd (2.47%) closed.

BSE Auto Index jumped by 11.70 points, it closed at 4,897.17 points. Same as Maruti Udyog (1%), Tata Motors (0.36%), Punjab Tractors (0.71%) Bajaj Auto (0.72%), and Hind Motors (20%) closed in green.

BSE Oil and Gas Index decreased by 15.13 points to close at 8,372.09 points. As well as Reliance Industries (0.30%),

IOCL (0.95%), Reliance Petroleum (0.92%) HPCL (0.75%), and BPCL (0.05%) closed lower.

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