Sugar stocks may move up

 The following stocks be in the limelight in today's trade.

Sugar stocks may see an upside on reports that cabinet ministry has approved relief package for sugar Industry. Government makes 10% ethanol blending in petrol mandatory from 8 October 2007 and 5% ethanol blending in petrol mandatory with immediate effect.

As pre reports, iGate Global Solutions has reported a net profit of 126.73% to Rs 22.9 crore in Q2 September 2007 as against Rs 10.1 crore in Q2 September 2006. Revenue declined 1.4% to Rs 200 crore in Q2 September 2007 from Rs 203 crore in Q2 September 2006. The company will officially announce the Q2 September 2007 results today.

Reliance Energy (REL) has reportedly bagged transmission project worth Rs 2,000 crore. As per reports, Jyoti Structures will provide EPC services for REL project.

Cummins, one of the principal customers and shareholders of Kpit Cummins, is reportedly looking to raise its stake in the latter to near 15% from about 13% currently. Kpit Cummins' board will meet on 17 October to consider preferential allotment to Cummins.

Moser Baer Entertainment is reportedly in talks with all electronic majors including Philips, LG, Samsung and Mirc to jointly collaborate and launch a low-end VCD and DVD player, priced around Rs 1,000 and Rs 1500 respectively.

The Board of Control for Cricket in India (BCCI) has reportedly decided to blacklist Zee Sports form participating in the bidding of the broadcast rights for the Indian Premier League (IPL) — BCCI's version of the Twenty20 game in view of the ongoing fracas between BCCI and the Subhash Chandra-owned Indian Cricket League (ICL).

Almondz Global Securities has entered into an agreement with Noble Group, an independent investment bank in the UK. It plans to jointly set up two foreign institutional investor desks in Mumbai and London, start primary equity operations and a fund.

DS Kulkarni Developers' board approved the merger of Oyster Promoters & Developers with itself.

S Kumars Natiowide reportedly sees its net profit at Rs 190-200 crore on revenue of Rs 1700 crore in 2007/08, driven by its brands and garment business.

Foreign institutional investors were net buyers of equity worth Rs 1416.72 crore on Tuesday, 9 October 2007 while domestic institutional investors net sold Rs 529.38 crore, according to provisional data on NSE.