After US market crash between 0.5 to 1% yesterday, Asian markets opened in red and continue to loose.
@8AM
Nikkei 225 13,880.88 -279.21 -1.97%
Hang Seng 24,903.20 -266.26 -1.06%
Straits Times 3,158.38 -41.50 -1.30%
Wednesday, May 21, 2008
US Stocks stumble on record oil, inflation worries-
Wall Street stumbled Tuesday after oil prices spiked to a new record above $129 a barrel and a government report raised investors' concerns about the impact of inflation on consumer spending.
US closing
Dow 12,828.68 -199.48 -1.53%
Nasdaq 2,492.26 -23.83 -0.95%
S&P 500 1,413.40 -13.23 -0.93%
US closing
Dow 12,828.68 -199.48 -1.53%
Nasdaq 2,492.26 -23.83 -0.95%
S&P 500 1,413.40 -13.23 -0.93%
Tuesday, May 20, 2008
Tech Mahindra Q4 loss at Rs 223 cr
Tech Mahindra has announced its Q4 numbers. It has posted loss of Rs 223 crore as against profit of Rs 196 crore. Revenues stood at Rs 990.7 crore versus Rs 911.6 crore. Margins declined at 22.4% from 23%.
Karnataka Bank Q4 PAT at Rs 60.78 cr
Karnataka Bank has declared its results for the quarter ended March 2008 (Q4). The bank's net interest income was down by 8.2% to Rs 118.29 crore from Rs 128.86 crore.
During the same quarter its PAT was up by 127% to Rs 60.78 crore from Rs 26.76 crore. The provisions were down to Rs 25.29 crore from Rs 60.78 crore. Its Q4FY08 EPS was at Rs 4.99.
The bank's FY08 EPS was at Rs 19.85.
During the same quarter its PAT was up by 127% to Rs 60.78 crore from Rs 26.76 crore. The provisions were down to Rs 25.29 crore from Rs 60.78 crore. Its Q4FY08 EPS was at Rs 4.99.
The bank's FY08 EPS was at Rs 19.85.
Kolte-Patil Q4 net profit at Rs 40.09 cr
Kolte-Patil Developers has announced its results for the quarter ended March 2008 (Q4). The company's net sales were at Rs 135.68 crore versus Rs 44.05 crore.
During the same quarter its net profit was at Rs 40.09 crore versus Rs 14.28 crore.
The company's FY08 net sales were at Rs 428.81 crore versus Rs 230.28 crore. Its FY08 net profit was at Rs 132.83 crore versus Rs 83.21 crore.
The company's FY08 EPS was at Rs 21.08.
During the same quarter its net profit was at Rs 40.09 crore versus Rs 14.28 crore.
The company's FY08 net sales were at Rs 428.81 crore versus Rs 230.28 crore. Its FY08 net profit was at Rs 132.83 crore versus Rs 83.21 crore.
The company's FY08 EPS was at Rs 21.08.
Suzlon FY08 cons net profit up 19% at Rs 1030.10 cr
Suzlon Energy has declared its FY08 and fourth quarter results. Its FY08 consolidated net sales were up 71.29% at Rs 13,679.43 crore from Rs 7,985.73 crore, YoY.
Its FY08 consolidated net profit was up 19.22% at Rs 1,030.10 crore versus Rs 864.03 crore, YoY.
The company has order backlog at Rs 18000 crore.
Q4FY08
Its Q4FY08 consolidated net sales stood at Rs 4923.75 crore versus Rs 2915.94 crore. YoY.
Its Q4 consolidated net profit stood at Rs 464.8 crore from Rs 359 crore YoY.
The company's Q4 standalone net profit stood at Rs 483 crore.
Its other income was at Rs 96 crore versus Rs 46.3 crore.
Its FY08 consolidated net profit was up 19.22% at Rs 1,030.10 crore versus Rs 864.03 crore, YoY.
The company has order backlog at Rs 18000 crore.
Q4FY08
Its Q4FY08 consolidated net sales stood at Rs 4923.75 crore versus Rs 2915.94 crore. YoY.
Its Q4 consolidated net profit stood at Rs 464.8 crore from Rs 359 crore YoY.
The company's Q4 standalone net profit stood at Rs 483 crore.
Its other income was at Rs 96 crore versus Rs 46.3 crore.
Bank of Baroda Q4 net profit up 12.35% at Rs 276 cr
Bank of Baroda has announced its fourth quarter results. The company's Q4 net profit was at Rs 276 crore versus Rs 245.66 crore.
Its operating profit at Rs 814 crore.
Its net interest income was down 6.89% from Rs 1104.64 crore to Rs 1028.5 crore.
FY08
Its FY08 net profit was up 39.8% from Rs 1026.47 crore to Rs 1435.08 crore.
The company's net interest income was up 3.32% from Rs 3786.08 crore to Rs 3911.8 crore.
According to CNBC-TV18 estimates, the bank was expected to post net profit of Rs 346.42 crore as against Rs 245.66 crore in same quarter of last year, a growth of 41%.
Its net interest income was seen going down 2.15% to Rs 1080.9 crore from Rs 1104.64 crore.
Its operating profit at Rs 814 crore.
Its net interest income was down 6.89% from Rs 1104.64 crore to Rs 1028.5 crore.
FY08
Its FY08 net profit was up 39.8% from Rs 1026.47 crore to Rs 1435.08 crore.
The company's net interest income was up 3.32% from Rs 3786.08 crore to Rs 3911.8 crore.
According to CNBC-TV18 estimates, the bank was expected to post net profit of Rs 346.42 crore as against Rs 245.66 crore in same quarter of last year, a growth of 41%.
Its net interest income was seen going down 2.15% to Rs 1080.9 crore from Rs 1104.64 crore.
Dr Reddys Labs FY08 cons net profit at Rs 470 cr
Dr Reddys Laboratories has announced its fourth quarter results. The company's Q4 consolidated net profit was at Rs 103 crore versus 325.5 crore (US GAAP).
Its Q4 consolidated net sales were at Rs 1320 crore versus Rs 1557.3 crore(US GAAP).
The company's FY08 consolidated net profit stood at Rs 470 crore.
DRL Q4FY07 numbers included Zofran Exclusivity (Rs 270 crore).
Its Q4 consolidated net sales were at Rs 1320 crore versus Rs 1557.3 crore(US GAAP).
The company's FY08 consolidated net profit stood at Rs 470 crore.
DRL Q4FY07 numbers included Zofran Exclusivity (Rs 270 crore).
Bharat Forge FY08 PAT at Rs 290.8cr
Bharat Forge has announced it FY08 results. It’s consolidated net profit was at Rs 290.8 crore versus Rs 283.5 crore. It’s consolidated net sales was at Rs 4652.3 crore versus Rs 4178.3 crore.
Emkay Shares Q4 net profit at Rs 2.67 cr
Emkay Shares & Stock has announced its results for the quarter ended March 2008 (Q4). The company's net sales were at Rs 31.34 crore versus Rs 15.44 cr on YoY basis and versus Rs 41.87 on QoQ basis.
During the quarter its operating profit was at Rs 4.46 crore versus loss of Rs 1.07 crore on YoY basis and versus a profit of Rs 14.82 on QoQ basis.
In the same quarter the company's net profit was at Rs 2.67 crore versus Rs 22 lakh on YoY basis and versus Rs 9.45 crore on QoQ basis.
During the quarter its other income was at Rs 2.8 crore versus Rs 2.71 crore on QoQ basis.
During the quarter its operating profit was at Rs 4.46 crore versus loss of Rs 1.07 crore on YoY basis and versus a profit of Rs 14.82 on QoQ basis.
In the same quarter the company's net profit was at Rs 2.67 crore versus Rs 22 lakh on YoY basis and versus Rs 9.45 crore on QoQ basis.
During the quarter its other income was at Rs 2.8 crore versus Rs 2.71 crore on QoQ basis.
HT Media Q4 net profit at Rs 41.5 cr
HT Media has declared its standalone results for the quarter ended March 2008 (Q4). The company's standalone sales were at Rs 313 crore versus Rs 319 crore on QoQ basis and versus Rs 275 crore on YoY basis.
The company's Q4 standalone net profit was at Rs 41.5 crore versus Rs 36.8 crore on QoQ basis and versus Rs 24 crore on YoY basis. Its standalone other income was at Rs 12 crore versus Rs 8.7 crore on QoQ basis and versus Rs 9 crore on YoY basis.
The OPM was at 19% versus 18.6% on QoQ basis and versus 15% on YoY basis.
The company's Q4 standalone net profit was at Rs 41.5 crore versus Rs 36.8 crore on QoQ basis and versus Rs 24 crore on YoY basis. Its standalone other income was at Rs 12 crore versus Rs 8.7 crore on QoQ basis and versus Rs 9 crore on YoY basis.
The OPM was at 19% versus 18.6% on QoQ basis and versus 15% on YoY basis.
Post Market Report 20.05.2008
The market could not hold on to the last week's gains as weak
global markets and record high oil prices weighed on the market
sentiment today. Concerns about a further monetary tightening by
the Reserve Bank of India (RBI) heightened after RBI governor Y V
Reddy today said inflation rate was totally unacceptable and the
official data underestimates the actual rise.
The wholesale price index rose 7.83% in 12 months to 3 May 2008,
higher than previous week's annual rise of 7.61%, government data
released on Friday, 16 May 2008, showed. It was the highest since
an annual reading of 7.93% on 6 November 2004.
Crude-oil futures marked their first close above $127 a barrel
Monday 19 May 2008, with the market extending last week's strength
on growing concerns about energy supply and demand from China.
The 30-share BSE Sensex lost 204.76 points or 1.17% at 17,230.18.
Sensex lost 298.68 points at day's low of 17,136.26 touched in late
trade.
The broader based S&P CNX Nifty was down 52.75 points or 1.02% at
5,104.95. Nifty May 2008 futures were at 5102, at a discount of
2.95 points as compared to spot closing of 5104.95.
However, the market breadth was positive. Consumer durables stocks
were mixed. Banking, healthcare and realty stocks declined.
The NSE's futures & options (F&O) segment turnover was Rs 33,290.93
crore, which was lower than Rs 37,876.68 crore on Friday, 16 May
2008.
The BSE Mid-Cap index was down 0.33% to 7,106.06 while the BSE
Small-Cap index rose 0.44% to 8,658.61. Both these indices
outperformed the Sensex
BSE Health Care index (down 1.19% at 4,269.84), BSE PSU index (down
1.82% to 7,651.74), BSE Realty index (down 1.87% at 7,894.10), BSE
Bankex (down 1.98% at 8,763.85) underperformed Sensex.
BSE Consumer Durables index (up 2.7% to 4,706.29), BSE Metal index
(up 0.7% to 15,176.97), BSE Auto index (up 0.13% at 4,763.69), BSE
IT index (down 0.01% to 4,467.15), BSE TecK index (down 0.57% to
3,534.49), BSE Power (down 0.83% to 3,304.79), BSE FMCG index (down
0.93% at 2,484.94), BSE Capital Goods index (down 0.97% at
13,563.48), BSE Oil & Gas index (down 1.06% to 11,169.61)
outperformed Sensex.
European markets were in the red. Key benchmark indices in France,
Germany and UK were down by between 0.93% to 1.3%. Asian markets
were trading lower today, 20 May 2008. Key benchmark indices in
China, Hong Kong, Japan, Singapore South Korean and Taiwan were
down by between 0.24% to 4.48%.
The market breadth was positive on BSE with 1,431 shares advancing
as compared to 1,292 that declined. 66 remained unchanged.
Among the 30-member Sensex pack, 23 declined while the rest gained.
Aa per the provisional figures on NSE, the foreign institutional
investors (FII)'s sold shares worth Rs 320.5 crore while domestic
funds bought shares worth Rs 0.39 crore today 20 May 2008.
India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries declined 1.26% to Rs 2,602. It has
reportedly formed a $1 billion joint venture with New York-based
Vornado Realty Trust to set up a real estate fund.
Consumer durables stocks were mixed. Titan Industries (down 4.79%
to Rs 1,212.40), Gitanjali Gems (down 2.92% to Rs 297.05) edged
lower. However, Videocon Industries (up 16.94% to Rs 410.35) and
Asian Star Company (up 0.08% to Rs 1,266) edged higher.
Banking stocks declined. ICICI Bank (down 1.43% to Rs 927.65) and
HDFC Bank (down 2.51% to Rs 1,464.65) edged lower.
India's largest commercial bank State Bank of India declined 2.85%
to Rs 1,655.45. It has reportedly decided to stop giving loans for
the purchase of tractors and other farm equipment. Due to mounting
non-performing assets in the farm equipment loan segment, the bank
has decided to temporarily put on hold all future advances for farm
equipment like tractors, power tillers and combined harvesters, the
reports suggested.
Realty stocks declined. Indiabulls Real Estate (down 2.52% to Rs
523.70), DLF (down 1.95% to Rs 636.55) and Unitech (down 2.67% to
Rs 279.05) edged lower.
HealthCare stocks declined. Sun Pharmaceuticals Industries (down
2.22% to Rs 1,353.60) and Cipla (down 2.02% to Rs 208.20) edged
lower.
Dr Reddys Laboratories declined 1.75% to Rs 638.85. The company's
net profit fell 39.65% to Rs 162.26 crore on 9.78% slide in total
income to Rs 1038.47 crore in Q4 March 2008 over Q4 March 2007. The
company announced the result during market hours today
India's largest tractor maker by sales Mahindra & Mahindra declined
1.31% to Rs 653.50. It is reportedly eyeing Italian motorcycle
marque brands -- Cagiva and MV Agusta. The Castiglioni family, which
owns flagship MV Agusta and Cagiva motorcycle brands, has been
facing financial troubles for some time and has been on the look
out for a potential acquirer, the reports added.
India's largest car maker by sales Maruti Suzuki India was down
1.06% to Rs 810.25. It has reportedly increased prices of cars by
up to Rs 18,000 because of higher raw material costs.
India's largest engineering and construction firm by sales Larsen &
Toubro declined 0.83% to Rs 2,971.50. The company announced today
it had received electrical project orders worth Rs 640 crore in the
Gulf region.
Satyam Computer Services (up 1.32% to Rs 494.60), Tata Motors (up
1.28% to Rs 678.35), Infosys (up 0.86% to Rs 1,887.20), Tata Steel
(up 0.42% to Rs 894.65), ACC (up 0.35% to Rs 682.45), Ranbaxy
Laboratories (up 0.04% to Rs 510.90), edged higher from the Sensex
pack.
Jaiprakash Associates (down 5,22% to Rs 256), Reliance
Infrastructure (down 4.53% to Rs 1,394.40), Bharat Heavy
Electricals (down 3.28% to Rs 1,736.50), Bharti Airtel (down 2.65%
to Rs 828.75), NTPC (down 2.64% to Rs 186), Tata Consultancy
Services (down 2.4% to Rs 952.75) edged lower from Sensex pack.
Aishwarya Telecom clocked the highest volume of 1.46 crore shares
on BSE. IFCI (1.4 crore shares), Ispat Industries (1.14 crore
shares), Cairn India (91.4 lakh shares), Nagarjuna Fertilisers and
Chemicals (89.36 lakh shares), were the other volume toppers in
that order.
Cairn India clocked the highest turnover of Rs 290.82 crore on BSE.
Mundra Port and Special Economic Zone (Rs 263.59 crore), Housing
Development and Infrastructure (Rs 256.23 crore), Aishwarya Telecom
(Rs 171.34 crore) and Suzlon Energy (Rs 168.38 crore), were the
other turnover toppers in that order.
US markets ended mixed on Monday 19 May 2008 after a late-day
sell-off. Weakness in techs, retail and housing prompted traders to
lock in some profits. The Dow gained 41.36 points, or 0.32%, to
13,028.16. The S&P 500 rose 1.28 points, or 0.09%, to 1,426.63. The
Nasdaq composite index was down 12.76 points, or 0.50%, to
2,516.09.
Back home on Friday 16 May 2008, the 30-share BSE Sensex rose 81.40
points or 0.47% at 17,434.94. The broader based S&P CNX Nifty
advanced 42.45 points or 0.83% at 5,157.70. The market was closed
on Monday, 19 May 2008, for a public holiday.
The BSE Sensex had risen 697.87 points or 4.17% to 17,434.94 in the
week ended Friday, 16 May 2008. The S&P CNX Nifty rose 175.10
points or 3.51% to 5157.70 in the week.
global markets and record high oil prices weighed on the market
sentiment today. Concerns about a further monetary tightening by
the Reserve Bank of India (RBI) heightened after RBI governor Y V
Reddy today said inflation rate was totally unacceptable and the
official data underestimates the actual rise.
The wholesale price index rose 7.83% in 12 months to 3 May 2008,
higher than previous week's annual rise of 7.61%, government data
released on Friday, 16 May 2008, showed. It was the highest since
an annual reading of 7.93% on 6 November 2004.
Crude-oil futures marked their first close above $127 a barrel
Monday 19 May 2008, with the market extending last week's strength
on growing concerns about energy supply and demand from China.
The 30-share BSE Sensex lost 204.76 points or 1.17% at 17,230.18.
Sensex lost 298.68 points at day's low of 17,136.26 touched in late
trade.
The broader based S&P CNX Nifty was down 52.75 points or 1.02% at
5,104.95. Nifty May 2008 futures were at 5102, at a discount of
2.95 points as compared to spot closing of 5104.95.
However, the market breadth was positive. Consumer durables stocks
were mixed. Banking, healthcare and realty stocks declined.
The NSE's futures & options (F&O) segment turnover was Rs 33,290.93
crore, which was lower than Rs 37,876.68 crore on Friday, 16 May
2008.
The BSE Mid-Cap index was down 0.33% to 7,106.06 while the BSE
Small-Cap index rose 0.44% to 8,658.61. Both these indices
outperformed the Sensex
BSE Health Care index (down 1.19% at 4,269.84), BSE PSU index (down
1.82% to 7,651.74), BSE Realty index (down 1.87% at 7,894.10), BSE
Bankex (down 1.98% at 8,763.85) underperformed Sensex.
BSE Consumer Durables index (up 2.7% to 4,706.29), BSE Metal index
(up 0.7% to 15,176.97), BSE Auto index (up 0.13% at 4,763.69), BSE
IT index (down 0.01% to 4,467.15), BSE TecK index (down 0.57% to
3,534.49), BSE Power (down 0.83% to 3,304.79), BSE FMCG index (down
0.93% at 2,484.94), BSE Capital Goods index (down 0.97% at
13,563.48), BSE Oil & Gas index (down 1.06% to 11,169.61)
outperformed Sensex.
European markets were in the red. Key benchmark indices in France,
Germany and UK were down by between 0.93% to 1.3%. Asian markets
were trading lower today, 20 May 2008. Key benchmark indices in
China, Hong Kong, Japan, Singapore South Korean and Taiwan were
down by between 0.24% to 4.48%.
The market breadth was positive on BSE with 1,431 shares advancing
as compared to 1,292 that declined. 66 remained unchanged.
Among the 30-member Sensex pack, 23 declined while the rest gained.
Aa per the provisional figures on NSE, the foreign institutional
investors (FII)'s sold shares worth Rs 320.5 crore while domestic
funds bought shares worth Rs 0.39 crore today 20 May 2008.
India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries declined 1.26% to Rs 2,602. It has
reportedly formed a $1 billion joint venture with New York-based
Vornado Realty Trust to set up a real estate fund.
Consumer durables stocks were mixed. Titan Industries (down 4.79%
to Rs 1,212.40), Gitanjali Gems (down 2.92% to Rs 297.05) edged
lower. However, Videocon Industries (up 16.94% to Rs 410.35) and
Asian Star Company (up 0.08% to Rs 1,266) edged higher.
Banking stocks declined. ICICI Bank (down 1.43% to Rs 927.65) and
HDFC Bank (down 2.51% to Rs 1,464.65) edged lower.
India's largest commercial bank State Bank of India declined 2.85%
to Rs 1,655.45. It has reportedly decided to stop giving loans for
the purchase of tractors and other farm equipment. Due to mounting
non-performing assets in the farm equipment loan segment, the bank
has decided to temporarily put on hold all future advances for farm
equipment like tractors, power tillers and combined harvesters, the
reports suggested.
Realty stocks declined. Indiabulls Real Estate (down 2.52% to Rs
523.70), DLF (down 1.95% to Rs 636.55) and Unitech (down 2.67% to
Rs 279.05) edged lower.
HealthCare stocks declined. Sun Pharmaceuticals Industries (down
2.22% to Rs 1,353.60) and Cipla (down 2.02% to Rs 208.20) edged
lower.
Dr Reddys Laboratories declined 1.75% to Rs 638.85. The company's
net profit fell 39.65% to Rs 162.26 crore on 9.78% slide in total
income to Rs 1038.47 crore in Q4 March 2008 over Q4 March 2007. The
company announced the result during market hours today
India's largest tractor maker by sales Mahindra & Mahindra declined
1.31% to Rs 653.50. It is reportedly eyeing Italian motorcycle
marque brands -- Cagiva and MV Agusta. The Castiglioni family, which
owns flagship MV Agusta and Cagiva motorcycle brands, has been
facing financial troubles for some time and has been on the look
out for a potential acquirer, the reports added.
India's largest car maker by sales Maruti Suzuki India was down
1.06% to Rs 810.25. It has reportedly increased prices of cars by
up to Rs 18,000 because of higher raw material costs.
India's largest engineering and construction firm by sales Larsen &
Toubro declined 0.83% to Rs 2,971.50. The company announced today
it had received electrical project orders worth Rs 640 crore in the
Gulf region.
Satyam Computer Services (up 1.32% to Rs 494.60), Tata Motors (up
1.28% to Rs 678.35), Infosys (up 0.86% to Rs 1,887.20), Tata Steel
(up 0.42% to Rs 894.65), ACC (up 0.35% to Rs 682.45), Ranbaxy
Laboratories (up 0.04% to Rs 510.90), edged higher from the Sensex
pack.
Jaiprakash Associates (down 5,22% to Rs 256), Reliance
Infrastructure (down 4.53% to Rs 1,394.40), Bharat Heavy
Electricals (down 3.28% to Rs 1,736.50), Bharti Airtel (down 2.65%
to Rs 828.75), NTPC (down 2.64% to Rs 186), Tata Consultancy
Services (down 2.4% to Rs 952.75) edged lower from Sensex pack.
Aishwarya Telecom clocked the highest volume of 1.46 crore shares
on BSE. IFCI (1.4 crore shares), Ispat Industries (1.14 crore
shares), Cairn India (91.4 lakh shares), Nagarjuna Fertilisers and
Chemicals (89.36 lakh shares), were the other volume toppers in
that order.
Cairn India clocked the highest turnover of Rs 290.82 crore on BSE.
Mundra Port and Special Economic Zone (Rs 263.59 crore), Housing
Development and Infrastructure (Rs 256.23 crore), Aishwarya Telecom
(Rs 171.34 crore) and Suzlon Energy (Rs 168.38 crore), were the
other turnover toppers in that order.
US markets ended mixed on Monday 19 May 2008 after a late-day
sell-off. Weakness in techs, retail and housing prompted traders to
lock in some profits. The Dow gained 41.36 points, or 0.32%, to
13,028.16. The S&P 500 rose 1.28 points, or 0.09%, to 1,426.63. The
Nasdaq composite index was down 12.76 points, or 0.50%, to
2,516.09.
Back home on Friday 16 May 2008, the 30-share BSE Sensex rose 81.40
points or 0.47% at 17,434.94. The broader based S&P CNX Nifty
advanced 42.45 points or 0.83% at 5,157.70. The market was closed
on Monday, 19 May 2008, for a public holiday.
The BSE Sensex had risen 697.87 points or 4.17% to 17,434.94 in the
week ended Friday, 16 May 2008. The S&P CNX Nifty rose 175.10
points or 3.51% to 5157.70 in the week.
Market extends losses
The market extended losses in afternoon trade with the key benchmark indices drifting to lowest level of the day. The market had witnessed a recovery from lower level in mid-morning trade after weak Asian markets and record high oil prices had pulled it down in early trade. The market breadth was positive. Banking, capital goods, power and realty stocks declined. European markets which opened after Indian market were weak.
At 13:24 IST, the 30-share BSE Sensex was down 220.72 points or 1.27% at 17,214.22. Sensex lost 245.49 points at day’s low of 17,189.45 touched in afternoon trade.
The broader based S&P CNX Nifty was down 65.25 points or 1.27% at 5,092.45.
The market breadth was positive on BSE with 1,322 shares advancing as compared to 1,263 that declined. 84 remained unchanged.
Among the 30-member Sensex pack, 24 declined while the rest gained.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries declined 1.39% to Rs 2,599.20. It has reportedly formed a $1 billion joint venture with New York-based Vornado Realty Trust to set up a real estate fund.
Power stocks were mixed. Tata Power Company (up 2.14% to Rs 1,482.10) and Reliance Power (up 2.1% to Rs 426) edged higher. However, PowerGrid Corporation of India (down 0.53% to Rs 102.50), Reliance Infrastructure (down 4.49% to Rs 1,395) and NTPC (down 2.7% to Rs 185.80) edged lower.
Capital goods stocks declined. Bharat Heavy Electricals, India's biggest power equipment maker in terms of revenue, declined 3.02% to Rs 1,741.
However, Suzlon Energy rose 1.23% to Rs 311.60. The company’s net profit rose 10.21% to Rs 482.55 crore on 32.86% rise in total income to Rs 2786.83 crore in Q4 March 2008 over Q4 March 2007. The company announced the results during trading hours today.
India’s largest engineering and construction firm by sales Larsen & Toubro declined 1.54% to Rs 2,950.30. The company announced today it had received electrical project orders worth Rs 640 crore in the Gulf region.
Banking stocks declined. ICICI Bank (down 2.15% to Rs 920.90) and HDFC Bank (down 2.02% to Rs 1,472) edged lower.
India’s largest commercial bank State Bank of India declined 2% to Rs 1,670. It has reportedly decided to stop giving loans for the purchase of tractors and other farm equipment. Due to mounting non-performing assets in the farm equipment loan segment, the bank has decided to temporarily put on hold all future advances for farm equipment like tractors, power tillers and combined harvesters, the reports suggested.
Realty stocks declined. Indiabulls Real Estate (down 3.24% to Rs 519.85), DLF (down 2.13% to Rs 635.40) and Unitech (down 3.31% to Rs 277.20) edged lower.
India’s largest tractor maker by sales Mahindra & Mahindra declined 1.39% to Rs 653. It is reportedly eyeing Italian motorcycle marque brands — Cagiva and MV Agusta. The Castiglioni family, which owns flagship MV Agusta and Cagiva motorcycle brands, has been facing financial troubles for some time and has been on the look out for a potential acquirer, the reports added.
India’s largest car maker by sales Maruti Suzuki India rose 0.1% to Rs 819.80. It has reportedly increased prices of cars by up to Rs 18,000 because of higher raw material costs.
ACC (up 0.67% to Rs 686), Infosys (up1.22% to Rs 1,894), Satyam Computer Services (up 0.72% to Rs 491.65), Tata Steel (up 0.68% to Rs 896.95) Ranbaxy Laboratories (up 0.25% to Rs 512) edged higher from the Sensex pack.
Jaiprakash Associates (down 4.04% to Rs 259.15), Bharti Airtel (down 3.93% to Rs 817.80), Hindalco Industries (down 3.19% to Rs 197.20), Tat Consultancy Services (down 2.17% to Rs 955) edged lower from Sensex pack.
Deep Industries rose 2.64% to Rs 163, after it won an exploration licence for a coal-bed methane block in Madhya Pradesh.
European markets opened weak. Indices in France, Germany and UK were down by between 0.79% to 1.02%
At 13:24 IST, the 30-share BSE Sensex was down 220.72 points or 1.27% at 17,214.22. Sensex lost 245.49 points at day’s low of 17,189.45 touched in afternoon trade.
The broader based S&P CNX Nifty was down 65.25 points or 1.27% at 5,092.45.
The market breadth was positive on BSE with 1,322 shares advancing as compared to 1,263 that declined. 84 remained unchanged.
Among the 30-member Sensex pack, 24 declined while the rest gained.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries declined 1.39% to Rs 2,599.20. It has reportedly formed a $1 billion joint venture with New York-based Vornado Realty Trust to set up a real estate fund.
Power stocks were mixed. Tata Power Company (up 2.14% to Rs 1,482.10) and Reliance Power (up 2.1% to Rs 426) edged higher. However, PowerGrid Corporation of India (down 0.53% to Rs 102.50), Reliance Infrastructure (down 4.49% to Rs 1,395) and NTPC (down 2.7% to Rs 185.80) edged lower.
Capital goods stocks declined. Bharat Heavy Electricals, India's biggest power equipment maker in terms of revenue, declined 3.02% to Rs 1,741.
However, Suzlon Energy rose 1.23% to Rs 311.60. The company’s net profit rose 10.21% to Rs 482.55 crore on 32.86% rise in total income to Rs 2786.83 crore in Q4 March 2008 over Q4 March 2007. The company announced the results during trading hours today.
India’s largest engineering and construction firm by sales Larsen & Toubro declined 1.54% to Rs 2,950.30. The company announced today it had received electrical project orders worth Rs 640 crore in the Gulf region.
Banking stocks declined. ICICI Bank (down 2.15% to Rs 920.90) and HDFC Bank (down 2.02% to Rs 1,472) edged lower.
India’s largest commercial bank State Bank of India declined 2% to Rs 1,670. It has reportedly decided to stop giving loans for the purchase of tractors and other farm equipment. Due to mounting non-performing assets in the farm equipment loan segment, the bank has decided to temporarily put on hold all future advances for farm equipment like tractors, power tillers and combined harvesters, the reports suggested.
Realty stocks declined. Indiabulls Real Estate (down 3.24% to Rs 519.85), DLF (down 2.13% to Rs 635.40) and Unitech (down 3.31% to Rs 277.20) edged lower.
India’s largest tractor maker by sales Mahindra & Mahindra declined 1.39% to Rs 653. It is reportedly eyeing Italian motorcycle marque brands — Cagiva and MV Agusta. The Castiglioni family, which owns flagship MV Agusta and Cagiva motorcycle brands, has been facing financial troubles for some time and has been on the look out for a potential acquirer, the reports added.
India’s largest car maker by sales Maruti Suzuki India rose 0.1% to Rs 819.80. It has reportedly increased prices of cars by up to Rs 18,000 because of higher raw material costs.
ACC (up 0.67% to Rs 686), Infosys (up1.22% to Rs 1,894), Satyam Computer Services (up 0.72% to Rs 491.65), Tata Steel (up 0.68% to Rs 896.95) Ranbaxy Laboratories (up 0.25% to Rs 512) edged higher from the Sensex pack.
Jaiprakash Associates (down 4.04% to Rs 259.15), Bharti Airtel (down 3.93% to Rs 817.80), Hindalco Industries (down 3.19% to Rs 197.20), Tat Consultancy Services (down 2.17% to Rs 955) edged lower from Sensex pack.
Deep Industries rose 2.64% to Rs 163, after it won an exploration licence for a coal-bed methane block in Madhya Pradesh.
European markets opened weak. Indices in France, Germany and UK were down by between 0.79% to 1.02%
Market fails to sustain higher level
The market plunged in early afternoon trade to touch new intra-day low. The market had witnessed a recovery from lower level in mid-morning trade after weak Asian markets and record high oil prices had pulled it down in early trade. The market breadth was strong. IT stocks were mixed. Banking, capital goods and realty stocks declined.
At 12:22 IST, the 30-share BSE Sensex was down 159.69 points or 0.93% at 17,272.45. Sensex lost 193.44 points at day’s low of 17,241.50 touched in early afternoon trade.
The broader based S&P CNX Nifty was down 54.05 points or 1.05% at 5,103.65.
The market breadth was strong on BSE with 1,427 shares advancing as compared to 1,076 that declined. 84 remained unchanged.
Among the 30-member Sensex pack, 22 declined while the rest gained.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries declined 1.1% to Rs 2,608. It has reportedly formed a $1 billion joint venture with New York-based Vornado Realty Trust to set up a real estate fund.
IT stocks were mixed. Infosys (up 1.83% to Rs 1,905.40) and Satyam Computer Services (up 1.2% to Rs 493) edged higher. Wipro (down 1.71% to Rs 497.50) and Tata Consultancy Services (down 1.67% to Rs 959.80) edged lower.
Banking stocks declined. ICICI Bank (down 1.44% to Rs 928) and HDFC Bank (down 1.48% to Rs 1,480.75) edged lower.
India’s largest commercial bank State Bank of India declined 2% to Rs 1,670. It has reportedly decided to stop giving loans for the purchase of tractors and other farm equipment. Due to mounting non-performing assets in the farm equipment loan segment, the bank has decided to temporarily put on hold all future advances for farm equipment like tractors, power tillers and combined harvesters, the reports suggested.
Realty stocks declined. Indiabulls Real Estate (down 1.27% to Rs 530.45), DLF (down 0.85% to Rs 643.70) and Unitech (down 2.16% to Rs 280.45) edged lower.
Capital goods stocks declined. Larsen & Toubro (down 1.11% to Rs 2,963.05) and Bharat Heavy Electricals (down 2.3% to Rs 1,754) edged lower. However Suzlon Energy rose 0.89% to Rs 310.70.
India’s largest tractor maker by sales Mahindra & Mahindra declined 1.54% to Rs 652. It is reportedly eyeing Italian motorcycle marque brands — Cagiva and MV Agusta. The Castiglioni family, which owns flagship MV Agusta and Cagiva motorcycle brands, has been facing financial troubles for some time and has been on the look out for a potential acquirer, the reports added.
India’s largest car maker by sales Maruti Suzuki India rose 0.22% to Rs 820.75. It has reportedly increased prices of cars by up to Rs 18,000 because of higher raw material costs.
ACC (up 0.93% to Rs 686.50), Tata Steel (up 0.6% to Rs 896.25) Ranbaxy Laboratories (up 0.32% to Rs 512.35), Reliance Communications (up 0.17% to Rs 602.90) edged higher from the Sensex pack.
Reliance Infrastructure (down 3.53% to Rs 1,409), Jaiprakash Associates (down 3.18% to Rs 261.40), Hindalco Industries (down 3.04% to Rs 197.15), Bharti Airtel (down 2.16% to Rs 832), NTPC (down 2.02% to Rs 187.20)edged lower from Sensex pack.
Educomp Solutions declined 0.31% to Rs 4,072.20. The company has acquired a 51% stake in Learning.com.for $ 25 million which includes the purchase of existing shares as well as infudsion of new capital into the company.
Bank of Baroda rose 1.2% to Rs 299. The bank's net profit rose 12.52% to Rs 276.44 crore on 26.57% rise in total income to Rs 3885.7 crore in Q4 March 2008 over Q4 March 2007.
At 12:22 IST, the 30-share BSE Sensex was down 159.69 points or 0.93% at 17,272.45. Sensex lost 193.44 points at day’s low of 17,241.50 touched in early afternoon trade.
The broader based S&P CNX Nifty was down 54.05 points or 1.05% at 5,103.65.
The market breadth was strong on BSE with 1,427 shares advancing as compared to 1,076 that declined. 84 remained unchanged.
Among the 30-member Sensex pack, 22 declined while the rest gained.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries declined 1.1% to Rs 2,608. It has reportedly formed a $1 billion joint venture with New York-based Vornado Realty Trust to set up a real estate fund.
IT stocks were mixed. Infosys (up 1.83% to Rs 1,905.40) and Satyam Computer Services (up 1.2% to Rs 493) edged higher. Wipro (down 1.71% to Rs 497.50) and Tata Consultancy Services (down 1.67% to Rs 959.80) edged lower.
Banking stocks declined. ICICI Bank (down 1.44% to Rs 928) and HDFC Bank (down 1.48% to Rs 1,480.75) edged lower.
India’s largest commercial bank State Bank of India declined 2% to Rs 1,670. It has reportedly decided to stop giving loans for the purchase of tractors and other farm equipment. Due to mounting non-performing assets in the farm equipment loan segment, the bank has decided to temporarily put on hold all future advances for farm equipment like tractors, power tillers and combined harvesters, the reports suggested.
Realty stocks declined. Indiabulls Real Estate (down 1.27% to Rs 530.45), DLF (down 0.85% to Rs 643.70) and Unitech (down 2.16% to Rs 280.45) edged lower.
Capital goods stocks declined. Larsen & Toubro (down 1.11% to Rs 2,963.05) and Bharat Heavy Electricals (down 2.3% to Rs 1,754) edged lower. However Suzlon Energy rose 0.89% to Rs 310.70.
India’s largest tractor maker by sales Mahindra & Mahindra declined 1.54% to Rs 652. It is reportedly eyeing Italian motorcycle marque brands — Cagiva and MV Agusta. The Castiglioni family, which owns flagship MV Agusta and Cagiva motorcycle brands, has been facing financial troubles for some time and has been on the look out for a potential acquirer, the reports added.
India’s largest car maker by sales Maruti Suzuki India rose 0.22% to Rs 820.75. It has reportedly increased prices of cars by up to Rs 18,000 because of higher raw material costs.
ACC (up 0.93% to Rs 686.50), Tata Steel (up 0.6% to Rs 896.25) Ranbaxy Laboratories (up 0.32% to Rs 512.35), Reliance Communications (up 0.17% to Rs 602.90) edged higher from the Sensex pack.
Reliance Infrastructure (down 3.53% to Rs 1,409), Jaiprakash Associates (down 3.18% to Rs 261.40), Hindalco Industries (down 3.04% to Rs 197.15), Bharti Airtel (down 2.16% to Rs 832), NTPC (down 2.02% to Rs 187.20)edged lower from Sensex pack.
Educomp Solutions declined 0.31% to Rs 4,072.20. The company has acquired a 51% stake in Learning.com.for $ 25 million which includes the purchase of existing shares as well as infudsion of new capital into the company.
Bank of Baroda rose 1.2% to Rs 299. The bank's net profit rose 12.52% to Rs 276.44 crore on 26.57% rise in total income to Rs 3885.7 crore in Q4 March 2008 over Q4 March 2007.
Market opens lower
Weak Asian markets pulled the domestic markets down in early trade. US crude closed at a record above $127 a barrel on Monday, 19 May 2009, raising concerns about its impact on consumer spending and corporate profits. However, market breadth was strong. Metal stocks rose while capital goods stocks declined.
At 10:21 IST, the 30-share BSE Sensex was down 150.60 points or 0.86% at 17,284.34. Sensex lost 163.41 points at day’s low of 17271.53 touched in early trade.
The broader based S&P CNX Nifty was down 33.7 points or 0.65% at 5,124.
The market breadth was strong on BSE with 1016 shares advancing as compared to 604 that declined. 54 remained unchanged.
Among the 30-member Sensex pack, 25 declined while the rest gained.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries declined 0.84% to Rs 2,613. It has reportedly formed a $1 billion joint venture with New York-based Vornado Realty Trust to set up a real estate fund.
Metal stocks rose. Sterlite Industries (up 5.52% to Rs 945), Steel Authority of India (up 2.53% to Rs 190.60), Tata Steel (up 1.48% to Rs 905.25) edged higher. However, India’s largest aluminium manufacturer in terms of sales Hindalco Industries declined 0.1% to Rs 203.50.
India’s largest state-run aluminium maker by sales National Aluminium Company rose 0.42% to Rs 525.95. It has raised prices of the metal by 5.8% a tonne to about Rs 1.44 lakh a tonne to match a rise in prices in the global markets.
Capital goods stocks declined. Larsen & Toubro (down 0.81% to Rs 2,972), Suzlon Energy (down 0.54% to Rs 306.30) and Bharat Heavy Electricals (down 1.41% to Rs 1,770) edged lower.
India’s largest commercial bank State Bank of India declined 1.53% to Rs 1,678. It has reportedly decided to stop giving loans for the purchase of tractors and other farm equipment. Due to mounting non-performing assets in the farm equipment loan segment, the bank has decided to put on hold all future advances for farm equipment like tractors, power tillers and combined harvesters, the reports suggested.
India’s largest tractor maker by sales Mahindra & Mahindra declined 0.33% to Rs 660. It is reportedly eyeing Italian motorcycle marque brands — Cagiva and MV Agusta. The Castiglioni family, which owns flagship MV Agusta and Cagiva motorcycle brands, has been facing financial troubles for some time and has been on the look out for a potential acquirer, the reports added.
India’s largest car maker by sales Maruti Suzuki India rose 0.73% to Rs 824.90. It has reportedly increased prices of its cars by as much as Rs 18,000 because of higher raw material costs.
ACC (up 1.73% to Rs 691.80), Ranbaxy Laboratories (up 1% to Rs 515.50), and Tata Motors (up 0.61% to Rs 673.85) edged higher from the Sensex pack.
Wipro (down 2.39% to Rs 494.05), Bharti Airtel (down 2.04% to Rs 834), Jaiprakash Associates (down 2.15% to Rs 264.30), Reliance Communications (down 1.47% to Rs 593) and Reliance Infrastructure (down 1.77% to Rs 1,434.75) edged lower from Sensex pack.
IL&FS Investsmart declined 1.33% to Rs 196.20. Global financial giant HSBC reportedly plans to acquire 73.21% stake in the domestic brokerage firm for a consideration of around Rs 1,002.5 crore. HSBC will acquire 43.85% from a Mauritius-based unit of E*Trade Financial Corporation and the rest from the Indian brokerage's founder, Infrastructure Leasing & Financial Services, for Rs 200 a share, the reports added. HSBC will also make an offer to buy an additional 20% from other shareholders, the reports suggested.
Asian markets were trading lower today, 20 May 2008. Key benchmark indices in China, Hong Kong, Japan, Singapore, South Korean and Taiwan were down by between 0.27% to 2.07%.
At 10:21 IST, the 30-share BSE Sensex was down 150.60 points or 0.86% at 17,284.34. Sensex lost 163.41 points at day’s low of 17271.53 touched in early trade.
The broader based S&P CNX Nifty was down 33.7 points or 0.65% at 5,124.
The market breadth was strong on BSE with 1016 shares advancing as compared to 604 that declined. 54 remained unchanged.
Among the 30-member Sensex pack, 25 declined while the rest gained.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries declined 0.84% to Rs 2,613. It has reportedly formed a $1 billion joint venture with New York-based Vornado Realty Trust to set up a real estate fund.
Metal stocks rose. Sterlite Industries (up 5.52% to Rs 945), Steel Authority of India (up 2.53% to Rs 190.60), Tata Steel (up 1.48% to Rs 905.25) edged higher. However, India’s largest aluminium manufacturer in terms of sales Hindalco Industries declined 0.1% to Rs 203.50.
India’s largest state-run aluminium maker by sales National Aluminium Company rose 0.42% to Rs 525.95. It has raised prices of the metal by 5.8% a tonne to about Rs 1.44 lakh a tonne to match a rise in prices in the global markets.
Capital goods stocks declined. Larsen & Toubro (down 0.81% to Rs 2,972), Suzlon Energy (down 0.54% to Rs 306.30) and Bharat Heavy Electricals (down 1.41% to Rs 1,770) edged lower.
India’s largest commercial bank State Bank of India declined 1.53% to Rs 1,678. It has reportedly decided to stop giving loans for the purchase of tractors and other farm equipment. Due to mounting non-performing assets in the farm equipment loan segment, the bank has decided to put on hold all future advances for farm equipment like tractors, power tillers and combined harvesters, the reports suggested.
India’s largest tractor maker by sales Mahindra & Mahindra declined 0.33% to Rs 660. It is reportedly eyeing Italian motorcycle marque brands — Cagiva and MV Agusta. The Castiglioni family, which owns flagship MV Agusta and Cagiva motorcycle brands, has been facing financial troubles for some time and has been on the look out for a potential acquirer, the reports added.
India’s largest car maker by sales Maruti Suzuki India rose 0.73% to Rs 824.90. It has reportedly increased prices of its cars by as much as Rs 18,000 because of higher raw material costs.
ACC (up 1.73% to Rs 691.80), Ranbaxy Laboratories (up 1% to Rs 515.50), and Tata Motors (up 0.61% to Rs 673.85) edged higher from the Sensex pack.
Wipro (down 2.39% to Rs 494.05), Bharti Airtel (down 2.04% to Rs 834), Jaiprakash Associates (down 2.15% to Rs 264.30), Reliance Communications (down 1.47% to Rs 593) and Reliance Infrastructure (down 1.77% to Rs 1,434.75) edged lower from Sensex pack.
IL&FS Investsmart declined 1.33% to Rs 196.20. Global financial giant HSBC reportedly plans to acquire 73.21% stake in the domestic brokerage firm for a consideration of around Rs 1,002.5 crore. HSBC will acquire 43.85% from a Mauritius-based unit of E*Trade Financial Corporation and the rest from the Indian brokerage's founder, Infrastructure Leasing & Financial Services, for Rs 200 a share, the reports added. HSBC will also make an offer to buy an additional 20% from other shareholders, the reports suggested.
Asian markets were trading lower today, 20 May 2008. Key benchmark indices in China, Hong Kong, Japan, Singapore, South Korean and Taiwan were down by between 0.27% to 2.07%.
Market pares losses
A recovery from lower level was witnessed on the bourses in mid-morning trade. Earlier, weak Asian markets and record high oil prices had pulled the domestic markets down in early trade. The market breadth was strong. Metal stocks rose while banking, capital goods and realty stocks declined.
At 10:23 IST, the 30-share BSE Sensex was down 88.63 points or 0.55% at 17,339.13. Sensex lost 178.65 points at day’s low of 17,256.29 touched in mid-morning trade.
The broader based S&P CNX Nifty was down 24.3 points or 0.47% at 5,133.40.
The market breadth was strong on BSE with 1333 shares advancing as compared to 998 that declined. 83 remained unchanged.
Among the 30-member Sensex pack, 22 declined while the rest gained.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries declined 0.61% to Rs 2,619. It has reportedly formed a $1 billion joint venture with New York-based Vornado Realty Trust to set up a real estate fund.
Banking stocks declined. ICICI Bank (down 1.4% to Rs 928) and HDFC Bank (down 1.49% to Rs 1,479) edged lower.
India’s largest commercial bank State Bank of India declined 1.98% to Rs 1,670.30. It has reportedly decided to stop giving loans for the purchase of tractors and other farm equipment. Due to mounting non-performing assets in the farm equipment loan segment, the bank has decided to temporarily put on hold all future advances for farm equipment like tractors, power tillers and combined harvesters, the reports suggested.
Capital goods stocks declined. Larsen & Toubro (down 1.05% to Rs 2,966) and Bharat Heavy Electricals (down 2.24% to Rs 1,756) edged lower. However Suzlon Energy rose 0.39% to Rs 309.15.
Realty stocks declined. Indiabulls Real Estate (down 0.38% to Rs 535.20), DLF (down 0.72% to Rs 644.50) and Unitech (down 1.94% to Rs 281.15) edged lower.
Metal stocks were mixed. Sterlite Industries (up 4.95% to Rs 939.50), Tata Steel (up 1.54% to Rs 905.25) edged higher. However, Hindalco Industries (down 1.82% to Rs 200) and Steel Authority of India (down 0.38% to Rs 185.20) edged lower.
India’s second largest aluminium maker by sales National Aluminium Company declined 1.27% to Rs 517.15. It has raised prices of the metal by 5.8% a metric ton to about Rs 1.44 lakh to match a rise in prices in the global markets.
India’s largest tractor maker by sales Mahindra & Mahindra declined 1.39% to Rs 653. It is reportedly eyeing Italian motorcycle marque brands — Cagiva and MV Agusta. The Castiglioni family, which owns flagship MV Agusta and Cagiva motorcycle brands, has been facing financial troubles for some time and has been on the look out for a potential acquirer, the reports added.
India’s largest car maker by sales Maruti Suzuki India declined 0.1% to Rs 818.10. It has reportedly increased prices of cars by as much as Rs 18,000 because of higher raw material costs.
ACC (up 1.62% to Rs 691.10), Infosys (up 1.54% to Rs 1,900), Satyam Computer Services (up 1.01% to Rs 493.10), Ranbaxy Laboratories (up 1% to Rs 515.50), Tata Motors (up 0.63% to Rs 673.85) edged higher from the Sensex pack.
Jaiprakash Associates (down 2.7% to Rs 262.80), Reliance Infrastructure (down 2.29% to Rs 1,427.15), Bharti Airtel (down 2.04% to Rs 834), ONGC (down 1.46% to Rs 937), Wipro (down 1.37% to Rs 499.50), NTPC (down 1.15% to Rs 188.80) edged lower from Sensex pack.
HT Media rose 1.38% to Rs 143.05. The company’s net profit rose 73.6% to Rs 41.59 crore on 13.9% rise in sales to Rs 313.35 crore in Q4 March 2008 over Q4 March 2007. The company announced the result on Friday, 16 May 2008.
Kolte Patil Developers rose 7.15% to Rs 128.80. The company reported a net profit of Rs 40.09 crore on sales of Rs 118.82 crore in Q4 March 2008. Figures for the corresponding previous year period were not available. The company announced the result on 19 May 2008.
Karnataka Bank rose 0.41% to Rs 207. The company’s net profit rose 127.1% to Rs 60.78 crore on 20.5% rise in opearating income to Rs 475.18 crore in Q4 March 2008 over Q4 March 2007. The company announced the result on 19 May 2008.
Redington India rose 1.77% to Rs 376.30. The company’s net profit rose 68.5% to Rs 26.04 crore on 17.8% rise in sales to Rs 1,659.22 crore in Q4 March 2008 over Q4 March 2007. The company announced the result on 16 May 2008.
At 10:23 IST, the 30-share BSE Sensex was down 88.63 points or 0.55% at 17,339.13. Sensex lost 178.65 points at day’s low of 17,256.29 touched in mid-morning trade.
The broader based S&P CNX Nifty was down 24.3 points or 0.47% at 5,133.40.
The market breadth was strong on BSE with 1333 shares advancing as compared to 998 that declined. 83 remained unchanged.
Among the 30-member Sensex pack, 22 declined while the rest gained.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries declined 0.61% to Rs 2,619. It has reportedly formed a $1 billion joint venture with New York-based Vornado Realty Trust to set up a real estate fund.
Banking stocks declined. ICICI Bank (down 1.4% to Rs 928) and HDFC Bank (down 1.49% to Rs 1,479) edged lower.
India’s largest commercial bank State Bank of India declined 1.98% to Rs 1,670.30. It has reportedly decided to stop giving loans for the purchase of tractors and other farm equipment. Due to mounting non-performing assets in the farm equipment loan segment, the bank has decided to temporarily put on hold all future advances for farm equipment like tractors, power tillers and combined harvesters, the reports suggested.
Capital goods stocks declined. Larsen & Toubro (down 1.05% to Rs 2,966) and Bharat Heavy Electricals (down 2.24% to Rs 1,756) edged lower. However Suzlon Energy rose 0.39% to Rs 309.15.
Realty stocks declined. Indiabulls Real Estate (down 0.38% to Rs 535.20), DLF (down 0.72% to Rs 644.50) and Unitech (down 1.94% to Rs 281.15) edged lower.
Metal stocks were mixed. Sterlite Industries (up 4.95% to Rs 939.50), Tata Steel (up 1.54% to Rs 905.25) edged higher. However, Hindalco Industries (down 1.82% to Rs 200) and Steel Authority of India (down 0.38% to Rs 185.20) edged lower.
India’s second largest aluminium maker by sales National Aluminium Company declined 1.27% to Rs 517.15. It has raised prices of the metal by 5.8% a metric ton to about Rs 1.44 lakh to match a rise in prices in the global markets.
India’s largest tractor maker by sales Mahindra & Mahindra declined 1.39% to Rs 653. It is reportedly eyeing Italian motorcycle marque brands — Cagiva and MV Agusta. The Castiglioni family, which owns flagship MV Agusta and Cagiva motorcycle brands, has been facing financial troubles for some time and has been on the look out for a potential acquirer, the reports added.
India’s largest car maker by sales Maruti Suzuki India declined 0.1% to Rs 818.10. It has reportedly increased prices of cars by as much as Rs 18,000 because of higher raw material costs.
ACC (up 1.62% to Rs 691.10), Infosys (up 1.54% to Rs 1,900), Satyam Computer Services (up 1.01% to Rs 493.10), Ranbaxy Laboratories (up 1% to Rs 515.50), Tata Motors (up 0.63% to Rs 673.85) edged higher from the Sensex pack.
Jaiprakash Associates (down 2.7% to Rs 262.80), Reliance Infrastructure (down 2.29% to Rs 1,427.15), Bharti Airtel (down 2.04% to Rs 834), ONGC (down 1.46% to Rs 937), Wipro (down 1.37% to Rs 499.50), NTPC (down 1.15% to Rs 188.80) edged lower from Sensex pack.
HT Media rose 1.38% to Rs 143.05. The company’s net profit rose 73.6% to Rs 41.59 crore on 13.9% rise in sales to Rs 313.35 crore in Q4 March 2008 over Q4 March 2007. The company announced the result on Friday, 16 May 2008.
Kolte Patil Developers rose 7.15% to Rs 128.80. The company reported a net profit of Rs 40.09 crore on sales of Rs 118.82 crore in Q4 March 2008. Figures for the corresponding previous year period were not available. The company announced the result on 19 May 2008.
Karnataka Bank rose 0.41% to Rs 207. The company’s net profit rose 127.1% to Rs 60.78 crore on 20.5% rise in opearating income to Rs 475.18 crore in Q4 March 2008 over Q4 March 2007. The company announced the result on 19 May 2008.
Redington India rose 1.77% to Rs 376.30. The company’s net profit rose 68.5% to Rs 26.04 crore on 17.8% rise in sales to Rs 1,659.22 crore in Q4 March 2008 over Q4 March 2007. The company announced the result on 16 May 2008.
Pre Market Report 20/05/2008
The market may edge lower on weak Asian markets. The market had shown some resistance last week despite higher inflation data and spiraling crude prices.
Market had remained closed on Monday, 19 May 2008, on account of Buddha Purnima.
The wholesale price index rose 7.83% in 12 months to 3 May 2008, higher than previous week's annual rise of 7.61%, government data released on 16 May 2008, showed. It was the highest since an annual reading of 7.93% n 6 November 2004. The annual inflation rate was 5.74% during the corresponding week of the previous year.
Asian markets were trading lower today, 20 May 2008. Indices in China, Hongkong, Japan, Singapore and Taiwan were down by between 0.8% to 1.91%. While South Korea's Strait Times rose 0.24% to 3,215.25.
US markets ended the day on Monday 19 May 2008 nearly unchanged following a late-day sell-off. Weakness in techs, retail and housing prompted traders to lock in some profits.
The Dow gained 41.36 points, or 0.32%, to 13,028.16. The S&P 500 rose 1.28 points, or 0.09%, to 1,426.63, and Nasdaq composite index was down 12.76 points, or 0.50%, to 2,516.09.
Back home on Friday 16 May 2008, The 30-share BSE Sensex rose 81.40 points or 0.47% at 17,434.94. The broader based S&P CNX Nifty advanced 42.45 points or 0.83% at 5,157.70.
The BSE Sensex had risen 697.87 points or 4.17% to 17,434.94 in the week ended Friday, 16 May 2008. The S&P CNX Nifty rose 175.10 points or 3.51% to 5157.70 in the week.
As per provisional data, foreign funds purchased shares worth a net Rs 475.87 crore on 16 May 2008. Domestic funds bought shares worth a net Rs 392.1 crore on that day.
Crude-oil futures had marked their first close above $127 a barrel Monday 19 May 2008, with the market extending last week's strength on growing concerns about energy supply and demand from China.
Meanwhile , polling began from 16 May 2008, in 66 Assembly constituencies in ten districts of Karnataka in the second phase of election. Third and final phase of election will be held on 22 May 2008 in 69 constituencies spread across eight districts. Counting of votes for all the 224 segments will be held on 25 May 2008.
Market had remained closed on Monday, 19 May 2008, on account of Buddha Purnima.
The wholesale price index rose 7.83% in 12 months to 3 May 2008, higher than previous week's annual rise of 7.61%, government data released on 16 May 2008, showed. It was the highest since an annual reading of 7.93% n 6 November 2004. The annual inflation rate was 5.74% during the corresponding week of the previous year.
Asian markets were trading lower today, 20 May 2008. Indices in China, Hongkong, Japan, Singapore and Taiwan were down by between 0.8% to 1.91%. While South Korea's Strait Times rose 0.24% to 3,215.25.
US markets ended the day on Monday 19 May 2008 nearly unchanged following a late-day sell-off. Weakness in techs, retail and housing prompted traders to lock in some profits.
The Dow gained 41.36 points, or 0.32%, to 13,028.16. The S&P 500 rose 1.28 points, or 0.09%, to 1,426.63, and Nasdaq composite index was down 12.76 points, or 0.50%, to 2,516.09.
Back home on Friday 16 May 2008, The 30-share BSE Sensex rose 81.40 points or 0.47% at 17,434.94. The broader based S&P CNX Nifty advanced 42.45 points or 0.83% at 5,157.70.
The BSE Sensex had risen 697.87 points or 4.17% to 17,434.94 in the week ended Friday, 16 May 2008. The S&P CNX Nifty rose 175.10 points or 3.51% to 5157.70 in the week.
As per provisional data, foreign funds purchased shares worth a net Rs 475.87 crore on 16 May 2008. Domestic funds bought shares worth a net Rs 392.1 crore on that day.
Crude-oil futures had marked their first close above $127 a barrel Monday 19 May 2008, with the market extending last week's strength on growing concerns about energy supply and demand from China.
Meanwhile , polling began from 16 May 2008, in 66 Assembly constituencies in ten districts of Karnataka in the second phase of election. Third and final phase of election will be held on 22 May 2008 in 69 constituencies spread across eight districts. Counting of votes for all the 224 segments will be held on 25 May 2008.
world market at 8.30 AM IST
STI 3,218.29 +10.86 (+0.34%)
SESDAQ 206.88 +206.88 (0.00%)
BT-SRI 1,788.37 1,788.37 (0.00%)
KLSE Comp 1,300.67 +6.52 (+0.50%)
Nikkei 225 14,224.12 -45.49 (-0.32%)
Hang Seng 25,295.37 -446.86 (-1.74%)
Dow 13,028.16 +41.36 (+0.32%)
Nasdaq 2,516.09 -12.76 (-0.50%)
SESDAQ 206.88 +206.88 (0.00%)
BT-SRI 1,788.37 1,788.37 (0.00%)
KLSE Comp 1,300.67 +6.52 (+0.50%)
Nikkei 225 14,224.12 -45.49 (-0.32%)
Hang Seng 25,295.37 -446.86 (-1.74%)
Dow 13,028.16 +41.36 (+0.32%)
Nasdaq 2,516.09 -12.76 (-0.50%)
Asian trading in negative
Nikkei 225 14,224.12 -45.49 -0.32%
Hang Seng 25,235.28 -506.95 -1.97%
Straits Times 3,219.75 +12.32 +0.38%
Hang Seng 25,235.28 -506.95 -1.97%
Straits Times 3,219.75 +12.32 +0.38%
US Stocks finish mixed following tech pullback
Wall Street ended mixed Monday after weakness in the technology sector punctured some of the market's enthusiasm over a report that suggested the economy could still be growing.
US closing
Dow 13,028.16 +41.36 +0.32%
Nasdaq 2,516.09 -12.76 -0.50%
S&P 500 1,426.63 +1.28 +0.09%
US closing
Dow 13,028.16 +41.36 +0.32%
Nasdaq 2,516.09 -12.76 -0.50%
S&P 500 1,426.63 +1.28 +0.09%
Monday, May 19, 2008
Bafna Pharmaceuticals Limited IPO
Incorporated in 1995, Bafna Pharmaceuticals Limited is engaged in the business of manufacturing pharmaceutical formulations of Betalactum and Non Betalactum products.
In 2006, Bafna has set up an 100% EOU unit at Madhavaram for the production of tablets and capsule with a capacity of 6973.20 lacs and 2462.40 lacs. The unit has been WHO GMP certified and also ISO 9000 certified. The products manufactured in this factory caters to the markets of Srilanka, Ghana and Ukraine. Bafna was involved in the execution of contracts for the generic division of M/s. Croslands from the period 1994 to 2001. Bafna was awarded the WHO GMP certification during the year 1995. Presently around 57 products of the company are registered in Srilanka, 4 products in Ukraine, 1 product in Ghana. The company received the Best Supplier award from the Srilankan Government during 2005.
Bafna Pharmaceuticals Ltd IPO Information
»» Public Issue Open: May 27, 2008 to May 30, 2008
»» Public Issue Type: Fixed price
»» Public Issue Size: 64,00,000 Equity Shares of Rs. 10/-
»» Face Value: Rs. 10/-
»» Public Issue Price: Rs 40/-
»» Maximum Subscription Amount for Retail Investor: Rs 100,000/-
»» Listing: BSE
»» Lead Manager: Keynote Corporate Services Ltd, Ashika Capital Ltd
»» Registrar: Cameo Corporate Services Ltd (Ph: +91-44-28460390 Email: cameo@cameoindia.com)
Objects of the Issue:
The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital:
To undertake Brand Building exercise in domestic & international markets;
To part finance the cost of obtaining MHRA approval for Grantlyon unit;
To set up a Research & Development unit at Grantlyon;
To repay high cost debt;
To meet the working capital requirement;
To meet expenses of the Issue in order to achieve the benefits of listing on the Stock Exchanges;
General corporate purposes
In 2006, Bafna has set up an 100% EOU unit at Madhavaram for the production of tablets and capsule with a capacity of 6973.20 lacs and 2462.40 lacs. The unit has been WHO GMP certified and also ISO 9000 certified. The products manufactured in this factory caters to the markets of Srilanka, Ghana and Ukraine. Bafna was involved in the execution of contracts for the generic division of M/s. Croslands from the period 1994 to 2001. Bafna was awarded the WHO GMP certification during the year 1995. Presently around 57 products of the company are registered in Srilanka, 4 products in Ukraine, 1 product in Ghana. The company received the Best Supplier award from the Srilankan Government during 2005.
Bafna Pharmaceuticals Ltd IPO Information
»» Public Issue Open: May 27, 2008 to May 30, 2008
»» Public Issue Type: Fixed price
»» Public Issue Size: 64,00,000 Equity Shares of Rs. 10/-
»» Face Value: Rs. 10/-
»» Public Issue Price: Rs 40/-
»» Maximum Subscription Amount for Retail Investor: Rs 100,000/-
»» Listing: BSE
»» Lead Manager: Keynote Corporate Services Ltd, Ashika Capital Ltd
»» Registrar: Cameo Corporate Services Ltd (Ph: +91-44-28460390 Email: cameo@cameoindia.com)
Objects of the Issue:
The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital:
To undertake Brand Building exercise in domestic & international markets;
To part finance the cost of obtaining MHRA approval for Grantlyon unit;
To set up a Research & Development unit at Grantlyon;
To repay high cost debt;
To meet the working capital requirement;
To meet expenses of the Issue in order to achieve the benefits of listing on the Stock Exchanges;
General corporate purposes
Results on 19th May
Tech Mahindra, Karnataka Bank, S Kumars Nation, Lakshmi Machine, MIC Electronics, Magma Leasing, Kolte-Patil, Action Const, Gemini Comm
Anu's Laboratories Ltd IPO - Option to withdraw application
Anu's Lab IPO has got some trouble due to some legal issues. Company published a letter to its investors giving the option to withdraw from the public issue because company failed to disclose a pending law suit in its Red herring prospectus. The law suit was files by Sunmoon Chemicals Pvt. Ltd in Nov 2007 and this case is still pending. Anu's lab failed to disclose this in its offer document.
Due to define rules by SEBI, Company has given an option to its investors to withdraw the application with in 10 days from May 16, 2008.
This may cause some delay in share allotment and refund for Anu's lab IPO. Investors who do not want to block their money may withdraw their IPO application in next 10 days.
Due to define rules by SEBI, Company has given an option to its investors to withdraw the application with in 10 days from May 16, 2008.
This may cause some delay in share allotment and refund for Anu's lab IPO. Investors who do not want to block their money may withdraw their IPO application in next 10 days.
Sunday, May 18, 2008
Edelweiss Capital Q4 net profit at Rs 82.6 cr
Edelweiss Capital it has announced its Q4 numbers. It has posted Q4 net profit of Rs 82.6 crore versus Rs 37.4 crore on YoY basis and versus Rs 96.4 crore on QoQ basis.
During the same quarter its net sales were at Rs 405.8 versus Rs 135.9 crore on YoY basis and versus Rs 323.2 crore on QoQ basis.
Its FY08 net profit stood was at Rs 273.2 crore versus Rs 109.9 crore. Its FY08 sales were at Rs 1,088.9 crore versus Rs 371.8 crore.
The company's FY08 diluted EPS was at Rs 39.99 versus Rs 20.76.
During the same quarter its net sales were at Rs 405.8 versus Rs 135.9 crore on YoY basis and versus Rs 323.2 crore on QoQ basis.
Its FY08 net profit stood was at Rs 273.2 crore versus Rs 109.9 crore. Its FY08 sales were at Rs 1,088.9 crore versus Rs 371.8 crore.
The company's FY08 diluted EPS was at Rs 39.99 versus Rs 20.76.
SAIL Q4 net profit up 25% at Rs 2376.8 cr
Steel Authority of India has announced its fourth quarter results. The company's Q4 net profit up 25% at Rs 2376.8 crore versus Rs 1901.8 crore.
Its net sales were up at Rs 13350 crore from 10385 crore.
Its Q4 other income was up at Rs 618 crore from Rs 640 crore.
For FY08, the company's net profit stood at Rs 7536.8 crore as against Rs 6202.3 crore
Its FY08 net sales at Rs 39508 crore versus Rs 33923 .
According to CNBC-TV18 estimates, its Q4FY08 net sales were seen up 20.34% at Rs 12497.53 crore from Rs 10385 crore.
The company's Q4FY08 PAT was expected to go up 37% at Rs 2606.1 crore from Rs 1901.8 crore.
Its net sales were up at Rs 13350 crore from 10385 crore.
Its Q4 other income was up at Rs 618 crore from Rs 640 crore.
For FY08, the company's net profit stood at Rs 7536.8 crore as against Rs 6202.3 crore
Its FY08 net sales at Rs 39508 crore versus Rs 33923 .
According to CNBC-TV18 estimates, its Q4FY08 net sales were seen up 20.34% at Rs 12497.53 crore from Rs 10385 crore.
The company's Q4FY08 PAT was expected to go up 37% at Rs 2606.1 crore from Rs 1901.8 crore.
BRPL FY08 net profit at Rs 294.3 cr
Bongaigaon Refineries and Petrochemicals has announced its Q4 and FY08 results. The company's FY08 standalone net profit stood at Rs 30.4 crore from Rs 18.1 crore.
Its net sales stood at Rs 1,839.9 crore versus Rs 1,195.6 crore.
For FY08, net profit stood at Rs 294.3 crore Vs Rs 185 crore while net sales stood at Rs 6,029.8 crore Vs Rs 5,788.4 crore.
Its net sales stood at Rs 1,839.9 crore versus Rs 1,195.6 crore.
For FY08, net profit stood at Rs 294.3 crore Vs Rs 185 crore while net sales stood at Rs 6,029.8 crore Vs Rs 5,788.4 crore.
Redington FY08 cons net profit up at Rs 136.07 cr
Redington has announced its FY08 results. The company's consolidated net profit was up at Rs 136.07 crore.
The company's net sales were at Rs 10870 crore.
The company's net sales were at Rs 10870 crore.
DCW Q4 net profit at Rs 2.9 cr
DCW has announced its Q4 and FY08 numbers. It has posted Q4 net profit of Rs 2.9 crore as against Rs 5 crore YoY.
For FY08, the company reported net profit of Rs 35.8 crore and net sales of Rs 748 crore.
For FY08, the company reported net profit of Rs 35.8 crore and net sales of Rs 748 crore.
Niraj Cement IPO opens on May 22; price band Rs 175-190
Niraj Cement Structurals, an engineering and construction company, will enter the capital market with an initial public offering, IPO of 32,50,000 equity shares of face value Rs 10 each on on May 22, 2008. The price band has been fixed at Rs 175-Rs 190 per equity share. The issue will close for subscription on May 28, 2008.
The issue price is 17.5 times the face value at the lower end of the price band and 19 times the face value at the higher end of the price band.
The issue comprises a reservation for eligible employees of 3,25,000 equity shares and net issue to the public of 29,25,000 equity shares. The issue would constitute 31.42% of the total post issue paid-up equity capital of the company.
The equity shares offered through this issue are proposed to be listed on the BSE. The issue has been graded by CARE and has been assigned the ‘CARE IPO GRADE 1’.
The book running lead manager to the issue is Allbank Finance Limited and Intime Spectrum Registry Limited is registrar.
The issue price is 17.5 times the face value at the lower end of the price band and 19 times the face value at the higher end of the price band.
The issue comprises a reservation for eligible employees of 3,25,000 equity shares and net issue to the public of 29,25,000 equity shares. The issue would constitute 31.42% of the total post issue paid-up equity capital of the company.
The equity shares offered through this issue are proposed to be listed on the BSE. The issue has been graded by CARE and has been assigned the ‘CARE IPO GRADE 1’.
The book running lead manager to the issue is Allbank Finance Limited and Intime Spectrum Registry Limited is registrar.
Post Market Report 16.05.2008
Rally in Asian and European markets, and firm US stock futures
indicating higher opening of US stocks today helped Indian market
shrug off a surge in inflation to highest level in more than three
years. Shares from banking and metal advanced on renewed buying.
The Dow Jones Industrial Average futures were up 25 points to 13017
while Nasdaq futures were up 4.25 points to 2040.
The 30-share BSE Sensex rose 81.40 points or 0.47% at 17,434.94.
The barometer index opened with an upward gap of 122.87 points at
17,476.41. It struck a high of 17,497.36 in early trade. At the
day's high, Sensex gained 143.82 points. Sensex lost 38.02 points
at day's low of 17,315.52 touched in early afternoon trade.
The broader based S&P CNX Nifty advanced 42.45 points or 0.83% at
5,157.70. Nifty May 2008 futures were at 5148 a discount of 9.70
points as compared to spot closing
As per provisional data, foreign funds bought shares worth a net Rs
475.87 crore today, 16 May 2008. Domestic funds bought shares worth
Rs 392.10 crore.
The BSE Sensex has gained 682.08 points or 4.07% in three trading
sessions from 16752.86 on 13 May 2008, on firm global markets and
due to depreciation of the rupee against the dollar which has
lifted export driven IT shares.
The wholesale price index rose 7.83% in 12 months to 3 May 2008,
higher than previous week's annual rise of 7.61%, government data
released today, 16 May 2008, showed. It was the highest since an
annual reading of 7.93% n 6 November 2004. Meanwhile, the
government also revised inflation for the week ended 8 March 2008
sharply upwards to 7.78% as compared to 5.92% reported earlier.
The market breadth was strong on BSE with 1521 shares advancing as
compared to 1160 that declined. 86 remained unchanged.
The BSE Mid-Cap index was up 0.70% to 7,129.70 while the BSE
Small-Cap index gained 0.86% to 8,620.26. Both these indices
outperformed the Sensex.
The total turnover on BSE amounted to Rs 6085 crore as compared to
Rs 6,484.97 crore yesterday, 15 May 2008. Turnover in NSE's futures
& options segment amounted to Rs 37876.68 crore as compared to Rs
38196.16 crore yesterday, 15 May 2008
All sectoral indices on BSE logged gains barring the BSE IT index
which shed 0.42% to 4,467.55.
The BSE Oil & Gas index (up 0.75% to 11,289.58), BSE Bankex (up
1.54% at 8,941.28), BSE Capital Goods index (up 0.71% at
13,696.75), BSE FMCG index (up 0.55% to 2,508.25), BSE Auto (up
0.57% at 4,757.30), BSE Health Care index (up 0.83% at 4,321.48),
BSE Metal index (up 1.90% to 17,058.01), BSE Power (up 0.89% to
3,332.49), and BSE Consumer Durables index (up 0.75% to 4,582.72s),
outperformed the Sensex.
The BSE Realty index (up 0.02% at 8,044.25), BSE TecK index (up
0.06% to 3,555.01), BSE PSU index (up 0.40% to 7,793.86),
underperformed the Sensex.
Among the 30-member Sensex pack, 16 gained while the rest slipped
India's largest bulk drug maker in terms of sales, Ranbaxy
Laboratories advanced 3.04% to Rs 509.50 on 7.61 lakh shares. It
was the top gainer from Sensex pack.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries (RIL) was up
0.72% to Rs 2641.45 on 6.52 lakh shares. The stock moved in a range
of Rs 2601 and Rs 2646 so far during the day.
Metal shares rose on fresh buying. Sterlite Industries (up 2.08% to
Rs 891.10), Tata Steel (up 0.98% to Rs 890.50), and Sesa Goa (up
0.55% to Rs 4280) gained.
Steel Authority of India jumped 7.97% to Rs 187 on reporting 24.97%
rise in net profit to Rs 2376.76 crore on 30.42% increase in total
income to Rs 13855.25 crore in Q4 March 2008 over Q4 March 2007.
The company announced the results during trading hours today, 16
May 2008.
India's largest cellular services provider in terms of market
capitalisation Reliance Communications gained 2.73% to Rs 605.10
after its 95% infrastructure subsidiary Reliance Infratel
reportedly secured the Securities and Exchange Board of India
(Sebi)'s nod for public issue. The Anil Ambani group company may
offload a 10.05% stake in Reliance Infratel to raise Rs 5,000-6,000
crore through the IPO.
India's largest cellular services provider in terms of market
capitalisation Bharti Airtel shed 1.13% to Rs 846.50. The company's
plan for taking over South African telecom major MTN has reportedly
entered into a crucial negotiation phase. While Bharti Airtel is
ready to acquire 51% stake, MTN's management wants it to buyout the
entire company.
Banking shares shrugged off data showing a surge in inflation. HDFC
Bank (up 1.61% to Rs 1500), and State Bank of India (up 1.31% to Rs
1701) advanced
ICICI Bank, the country's largest private sector bank in terms of
net profit was up 1.22% to Rs 940. As per reports, the bank's the
private equity arm ICICI Venture Fund Management, will raise as
much as $3 billion for an infrastructure and a real estate fund.
IT pivotals slipped after firm start on profit taking. Infosys
(down 1.28% to Rs 1867.10, off day's high of Rs 1918.40), Wipro
(down 0.66% to Rs 505.50, off day's high of Rs 515), and TCS (down
1.05% to Rs 975.10, off day's high of Rs 1000.15), declined.
However India's fourth largest software services exporter Satyam
Computer Services rose 0.64% to Rs 487.
The Indian rupee fell to a 13-month low against the dollar today,
16 May 2008. A depreciating rupee augurs well for IT companies as
they derive over 50% of their revenues from exports to US.
India's largest private sector engineering company in terms of
outstanding order book position Larsen & Toubro slipped from day's
high of Rs 3033. It closed with gain of 0.56% to Rs 2997. The
company said it had entered into a partnership agreement with GE
Energy, a unit of General Electric, for power plant control systems
in India.
Hindustan Unilever (up 1.47% to Rs 242.10) and Jaiprakash
Associates (up 1.67% to Rs 270.05), edged higher from Sensex pack.
India's largest dedicated housing finance company in terms of total
income Housing Development Finance Corporation fell 1.55% to Rs
2750 on 63,625 shares. It was the top loser from Sensex pack.
NTPC, the country's largest power generation company in terms of
sales, slipped 0.16% to Rs 191.35 on reports the Finance Ministry
has turned down its proposal for selling 4.75% stake through
follow-on public offer. The Government holds 89.5% in the utility
(as at end March 2008).
Ambuja Cements (down 1.07% to Rs 110.90), and Cipla (down 1.12% to
Rs 211.30) edged lower from Sensex pack.
Aishwarya Telecom was the top traded counter on BSE with turnover
of Rs 357.30 crore followed by Housing Development Infrastructure
(Rs 177.66 crore), Steel Authority of India (Rs 171.22 crore),
Reliance Industries (Rs 171.20 crore), and Reliance Communications
(Rs 169.78 crore), in that order.
Bank of India vaulted 5.66% to Rs 358.20 on reporting 76.87% rise
in net profit to Rs 1959.84 crore on 38.26% rise in total income to
Rs 14528.41 crore, on a consolidated basis, in the year ended March
2008 over year ended March 2007
Zylog Systems declined 4.62% to Rs 282.85 on reporting 21.67% fall
in net profit to Rs 18.36 crore on 1.37% rise in net sales to Rs
162.08 crore in Q4 March 2008 over Q3 December 2007. The company
announced the results after trading hours on Thursday, 15 May 2008.
Voltas dropped 2.71% to Rs 163.20 on reporting 53.8% fall in net
profit to Rs 55.41 crore on 16.7% rise in net sales to Rs 842.11
crore in Q4 March 2008 over Q4 March 2007.
Chennai Petroleum Corporation rose 0.26% to Rs 351 on reporting
81.9% surge in net profit to Rs 343.92 crore on 48% increase in net
sales to Rs 8367.89 crore in Q4 March 2008 over Q4 March 2007. The
company announced the results after trading hours on Thursday, 15
May 2008.
Edelweiss Capital declined 2.08% to Rs 793 despite reporting 88.51%
rise in net profit to Rs 10.01 crore on 252.64% rise in total
income to Rs 71.2 crore in Q4 March 2008 over Q4 March 2007.
Tata Investment Corporation surged 5.35% to Rs 577.50 after the
company said its board will raise Rs 448 crore through rights issue
of zero-coupon convertible bonds in the ratio of 1:5.
Tech Mahindra gained 2% to Rs 952 on reports the company has bagged
a $700-million contract from BT Group to improve its IT
infrastructure.
Kinetic Motor Company jumped 5% to Rs 30.75 on reports Sanyang
Industry Company, a Taiwan-based two-wheeler maker, has expressed
keen interest in acquiring controlling stake in the Pune-based
company.
Bongaigaon Refinery & Petrochemicals galloped 9.54% to Rs 62 after
the company today, 16 May 2008, announced a divided of Rs 5 per
share for the year ended March 2008
In a development that can boost the stock market, the government is
reportedly set to review the restrictions imposed on participatory
notes (P-notes), as foreign institutional investor (FII) have
pressed substantial sales from Indian markets in calendar year
2008. In October 2007, FIIs were barred from issuing P-notes in the
derivatives market. The finance ministry has asked the Securities &
Exchange Board of India (Sebi) to examine whether those
restrictions have hindered investments by FIIs.
Meanwhile, polling began for the second phase from today, 16 May
2008, in 66 Assembly constituencies in ten districts of Karnataka.
Third and final phase of election will be held on 22 May 2008 in 69
constituencies spread across eight districts. Counting of votes for
all the 224 segments will be held on 25 May 2008.
European markets which opened after Indian markets, extended early
gains. Key benchmark indices in United Kingdom (up 1.47% to
6,342.80), Germany (up 1.32% to 7,174.62), and France (up 0.87% to
5,101.36), edged higher.
Asian markets settled mixed today, 16 May 2008. Hang Seng (up 0.41%
at 25,618.86), Straits Times (up 0.91% at 3,236.56), Seoul
Composite (up 0.14% at 1,888.43) and Taiwan Weighted (up 0.44% at
9,197.41) edged higher.
However China's Shanghai Composite (down 0.36% at 3,624.33) and
Nikkei 225 Average (down 0.23% at 14,219.48), declined.
indicating higher opening of US stocks today helped Indian market
shrug off a surge in inflation to highest level in more than three
years. Shares from banking and metal advanced on renewed buying.
The Dow Jones Industrial Average futures were up 25 points to 13017
while Nasdaq futures were up 4.25 points to 2040.
The 30-share BSE Sensex rose 81.40 points or 0.47% at 17,434.94.
The barometer index opened with an upward gap of 122.87 points at
17,476.41. It struck a high of 17,497.36 in early trade. At the
day's high, Sensex gained 143.82 points. Sensex lost 38.02 points
at day's low of 17,315.52 touched in early afternoon trade.
The broader based S&P CNX Nifty advanced 42.45 points or 0.83% at
5,157.70. Nifty May 2008 futures were at 5148 a discount of 9.70
points as compared to spot closing
As per provisional data, foreign funds bought shares worth a net Rs
475.87 crore today, 16 May 2008. Domestic funds bought shares worth
Rs 392.10 crore.
The BSE Sensex has gained 682.08 points or 4.07% in three trading
sessions from 16752.86 on 13 May 2008, on firm global markets and
due to depreciation of the rupee against the dollar which has
lifted export driven IT shares.
The wholesale price index rose 7.83% in 12 months to 3 May 2008,
higher than previous week's annual rise of 7.61%, government data
released today, 16 May 2008, showed. It was the highest since an
annual reading of 7.93% n 6 November 2004. Meanwhile, the
government also revised inflation for the week ended 8 March 2008
sharply upwards to 7.78% as compared to 5.92% reported earlier.
The market breadth was strong on BSE with 1521 shares advancing as
compared to 1160 that declined. 86 remained unchanged.
The BSE Mid-Cap index was up 0.70% to 7,129.70 while the BSE
Small-Cap index gained 0.86% to 8,620.26. Both these indices
outperformed the Sensex.
The total turnover on BSE amounted to Rs 6085 crore as compared to
Rs 6,484.97 crore yesterday, 15 May 2008. Turnover in NSE's futures
& options segment amounted to Rs 37876.68 crore as compared to Rs
38196.16 crore yesterday, 15 May 2008
All sectoral indices on BSE logged gains barring the BSE IT index
which shed 0.42% to 4,467.55.
The BSE Oil & Gas index (up 0.75% to 11,289.58), BSE Bankex (up
1.54% at 8,941.28), BSE Capital Goods index (up 0.71% at
13,696.75), BSE FMCG index (up 0.55% to 2,508.25), BSE Auto (up
0.57% at 4,757.30), BSE Health Care index (up 0.83% at 4,321.48),
BSE Metal index (up 1.90% to 17,058.01), BSE Power (up 0.89% to
3,332.49), and BSE Consumer Durables index (up 0.75% to 4,582.72s),
outperformed the Sensex.
The BSE Realty index (up 0.02% at 8,044.25), BSE TecK index (up
0.06% to 3,555.01), BSE PSU index (up 0.40% to 7,793.86),
underperformed the Sensex.
Among the 30-member Sensex pack, 16 gained while the rest slipped
India's largest bulk drug maker in terms of sales, Ranbaxy
Laboratories advanced 3.04% to Rs 509.50 on 7.61 lakh shares. It
was the top gainer from Sensex pack.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries (RIL) was up
0.72% to Rs 2641.45 on 6.52 lakh shares. The stock moved in a range
of Rs 2601 and Rs 2646 so far during the day.
Metal shares rose on fresh buying. Sterlite Industries (up 2.08% to
Rs 891.10), Tata Steel (up 0.98% to Rs 890.50), and Sesa Goa (up
0.55% to Rs 4280) gained.
Steel Authority of India jumped 7.97% to Rs 187 on reporting 24.97%
rise in net profit to Rs 2376.76 crore on 30.42% increase in total
income to Rs 13855.25 crore in Q4 March 2008 over Q4 March 2007.
The company announced the results during trading hours today, 16
May 2008.
India's largest cellular services provider in terms of market
capitalisation Reliance Communications gained 2.73% to Rs 605.10
after its 95% infrastructure subsidiary Reliance Infratel
reportedly secured the Securities and Exchange Board of India
(Sebi)'s nod for public issue. The Anil Ambani group company may
offload a 10.05% stake in Reliance Infratel to raise Rs 5,000-6,000
crore through the IPO.
India's largest cellular services provider in terms of market
capitalisation Bharti Airtel shed 1.13% to Rs 846.50. The company's
plan for taking over South African telecom major MTN has reportedly
entered into a crucial negotiation phase. While Bharti Airtel is
ready to acquire 51% stake, MTN's management wants it to buyout the
entire company.
Banking shares shrugged off data showing a surge in inflation. HDFC
Bank (up 1.61% to Rs 1500), and State Bank of India (up 1.31% to Rs
1701) advanced
ICICI Bank, the country's largest private sector bank in terms of
net profit was up 1.22% to Rs 940. As per reports, the bank's the
private equity arm ICICI Venture Fund Management, will raise as
much as $3 billion for an infrastructure and a real estate fund.
IT pivotals slipped after firm start on profit taking. Infosys
(down 1.28% to Rs 1867.10, off day's high of Rs 1918.40), Wipro
(down 0.66% to Rs 505.50, off day's high of Rs 515), and TCS (down
1.05% to Rs 975.10, off day's high of Rs 1000.15), declined.
However India's fourth largest software services exporter Satyam
Computer Services rose 0.64% to Rs 487.
The Indian rupee fell to a 13-month low against the dollar today,
16 May 2008. A depreciating rupee augurs well for IT companies as
they derive over 50% of their revenues from exports to US.
India's largest private sector engineering company in terms of
outstanding order book position Larsen & Toubro slipped from day's
high of Rs 3033. It closed with gain of 0.56% to Rs 2997. The
company said it had entered into a partnership agreement with GE
Energy, a unit of General Electric, for power plant control systems
in India.
Hindustan Unilever (up 1.47% to Rs 242.10) and Jaiprakash
Associates (up 1.67% to Rs 270.05), edged higher from Sensex pack.
India's largest dedicated housing finance company in terms of total
income Housing Development Finance Corporation fell 1.55% to Rs
2750 on 63,625 shares. It was the top loser from Sensex pack.
NTPC, the country's largest power generation company in terms of
sales, slipped 0.16% to Rs 191.35 on reports the Finance Ministry
has turned down its proposal for selling 4.75% stake through
follow-on public offer. The Government holds 89.5% in the utility
(as at end March 2008).
Ambuja Cements (down 1.07% to Rs 110.90), and Cipla (down 1.12% to
Rs 211.30) edged lower from Sensex pack.
Aishwarya Telecom was the top traded counter on BSE with turnover
of Rs 357.30 crore followed by Housing Development Infrastructure
(Rs 177.66 crore), Steel Authority of India (Rs 171.22 crore),
Reliance Industries (Rs 171.20 crore), and Reliance Communications
(Rs 169.78 crore), in that order.
Bank of India vaulted 5.66% to Rs 358.20 on reporting 76.87% rise
in net profit to Rs 1959.84 crore on 38.26% rise in total income to
Rs 14528.41 crore, on a consolidated basis, in the year ended March
2008 over year ended March 2007
Zylog Systems declined 4.62% to Rs 282.85 on reporting 21.67% fall
in net profit to Rs 18.36 crore on 1.37% rise in net sales to Rs
162.08 crore in Q4 March 2008 over Q3 December 2007. The company
announced the results after trading hours on Thursday, 15 May 2008.
Voltas dropped 2.71% to Rs 163.20 on reporting 53.8% fall in net
profit to Rs 55.41 crore on 16.7% rise in net sales to Rs 842.11
crore in Q4 March 2008 over Q4 March 2007.
Chennai Petroleum Corporation rose 0.26% to Rs 351 on reporting
81.9% surge in net profit to Rs 343.92 crore on 48% increase in net
sales to Rs 8367.89 crore in Q4 March 2008 over Q4 March 2007. The
company announced the results after trading hours on Thursday, 15
May 2008.
Edelweiss Capital declined 2.08% to Rs 793 despite reporting 88.51%
rise in net profit to Rs 10.01 crore on 252.64% rise in total
income to Rs 71.2 crore in Q4 March 2008 over Q4 March 2007.
Tata Investment Corporation surged 5.35% to Rs 577.50 after the
company said its board will raise Rs 448 crore through rights issue
of zero-coupon convertible bonds in the ratio of 1:5.
Tech Mahindra gained 2% to Rs 952 on reports the company has bagged
a $700-million contract from BT Group to improve its IT
infrastructure.
Kinetic Motor Company jumped 5% to Rs 30.75 on reports Sanyang
Industry Company, a Taiwan-based two-wheeler maker, has expressed
keen interest in acquiring controlling stake in the Pune-based
company.
Bongaigaon Refinery & Petrochemicals galloped 9.54% to Rs 62 after
the company today, 16 May 2008, announced a divided of Rs 5 per
share for the year ended March 2008
In a development that can boost the stock market, the government is
reportedly set to review the restrictions imposed on participatory
notes (P-notes), as foreign institutional investor (FII) have
pressed substantial sales from Indian markets in calendar year
2008. In October 2007, FIIs were barred from issuing P-notes in the
derivatives market. The finance ministry has asked the Securities &
Exchange Board of India (Sebi) to examine whether those
restrictions have hindered investments by FIIs.
Meanwhile, polling began for the second phase from today, 16 May
2008, in 66 Assembly constituencies in ten districts of Karnataka.
Third and final phase of election will be held on 22 May 2008 in 69
constituencies spread across eight districts. Counting of votes for
all the 224 segments will be held on 25 May 2008.
European markets which opened after Indian markets, extended early
gains. Key benchmark indices in United Kingdom (up 1.47% to
6,342.80), Germany (up 1.32% to 7,174.62), and France (up 0.87% to
5,101.36), edged higher.
Asian markets settled mixed today, 16 May 2008. Hang Seng (up 0.41%
at 25,618.86), Straits Times (up 0.91% at 3,236.56), Seoul
Composite (up 0.14% at 1,888.43) and Taiwan Weighted (up 0.44% at
9,197.41) edged higher.
However China's Shanghai Composite (down 0.36% at 3,624.33) and
Nikkei 225 Average (down 0.23% at 14,219.48), declined.
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