Update 1
Trade turns range-bound
The market was range-bound in early-afternoon trade. However, cement shares had cut loose while power-equipment and media shares were also in fashion.
At 12:24 IST the Sensex was up 38 points, at 13,744. It had moved in a narrow range of 13,724 and 13,746, since 11:30 IST. The bellwether index had also hit an all-time high of 13,790.82, in opening trade amid high volatility.
The market-breadth was positive. For 1,303 shares rising on BSE, 1,035 declined. As many as 76 shares were unchanged. Gainers outpaced losers by a ratio of 1.25:1.The BSE clocked a turnover of Rs 3,137 crore, boosted by a large block deal of 92.7 lakh in the FII-segment in ICICI Bank, at Rs 880.50. Select cement shares firmed up. Grasim gained 1% to Rs 2,704, and ACC rose 0.2% to Rs 1,076.
Tata Power bullish on power-project deal with Tata Steel
Tata Power advanced 2.10% to Rs 575, on a joint venture agreement with Tata Steel for captive power plants in Chattisgarh, Orissa & Jharkhand.
As many as 39,917 shares were traded in the counter on BSE.The stock witnessed a steady rally since late-October. From Rs 528.15 on 26 October, it steadily rose to Rs 563.20 by 22 November 2006 as buying continued.This joint venture aims to meet the power and steam requirements, to facilitate expansion of Tata Steel in the three states.
To Read MoreClick Here
L&T up 3.12% on news of Rs 20 bn investment in new shipyard
The shares of L&T are trading up 3.12% at Rs 1416.00, compared to the previous close of Rs 1373.20 on Wednesday. A total of 275,978 shares have been traded on the bourses so far. The stock moved up after it announced its plans of a Rs 20 billion investment in a new shipyard. (11.34 am)
L&T had yesterday announced its plans to set up a large shipyard at an investment of about Rs 20 billion to capitalise on the expected demand for vessels with the growth in international trade.The company is looking for land in the coastal states of Tamil Nadu, Andhra Pradesh, Maharashtra and Gujarat.The shares of the company rose 4.71% over the week and 11.12% over the month.
Zee Telefilms edges forward on restructuring
Zee Telefilms advanced 2.31% to Rs 356.70, after it said that a demerger scheme became effective from 22 Nov 2006.
The counter clocked 7.06 lakh shares on BSE, even as it surged to an intra-day high of Rs 358.50.The stock has been on an intermittent up-trend since late-October 2006, on the back of strong buying demand. From Rs 300.65 on 30 October, the stock surged to Rs 348.65 by 22 November, as buying continued.
To Read MoreClick Here
The market was range-bound in early-afternoon trade. However, cement shares had cut loose while power-equipment and media shares were also in fashion.
At 12:24 IST the Sensex was up 38 points, at 13,744. It had moved in a narrow range of 13,724 and 13,746, since 11:30 IST. The bellwether index had also hit an all-time high of 13,790.82, in opening trade amid high volatility.
The market-breadth was positive. For 1,303 shares rising on BSE, 1,035 declined. As many as 76 shares were unchanged. Gainers outpaced losers by a ratio of 1.25:1.The BSE clocked a turnover of Rs 3,137 crore, boosted by a large block deal of 92.7 lakh in the FII-segment in ICICI Bank, at Rs 880.50. Select cement shares firmed up. Grasim gained 1% to Rs 2,704, and ACC rose 0.2% to Rs 1,076.
Tata Power bullish on power-project deal with Tata Steel
Tata Power advanced 2.10% to Rs 575, on a joint venture agreement with Tata Steel for captive power plants in Chattisgarh, Orissa & Jharkhand.
As many as 39,917 shares were traded in the counter on BSE.The stock witnessed a steady rally since late-October. From Rs 528.15 on 26 October, it steadily rose to Rs 563.20 by 22 November 2006 as buying continued.This joint venture aims to meet the power and steam requirements, to facilitate expansion of Tata Steel in the three states.
To Read MoreClick Here
L&T up 3.12% on news of Rs 20 bn investment in new shipyard
The shares of L&T are trading up 3.12% at Rs 1416.00, compared to the previous close of Rs 1373.20 on Wednesday. A total of 275,978 shares have been traded on the bourses so far. The stock moved up after it announced its plans of a Rs 20 billion investment in a new shipyard. (11.34 am)
L&T had yesterday announced its plans to set up a large shipyard at an investment of about Rs 20 billion to capitalise on the expected demand for vessels with the growth in international trade.The company is looking for land in the coastal states of Tamil Nadu, Andhra Pradesh, Maharashtra and Gujarat.The shares of the company rose 4.71% over the week and 11.12% over the month.
Zee Telefilms edges forward on restructuring
Zee Telefilms advanced 2.31% to Rs 356.70, after it said that a demerger scheme became effective from 22 Nov 2006.
The counter clocked 7.06 lakh shares on BSE, even as it surged to an intra-day high of Rs 358.50.The stock has been on an intermittent up-trend since late-October 2006, on the back of strong buying demand. From Rs 300.65 on 30 October, the stock surged to Rs 348.65 by 22 November, as buying continued.
To Read MoreClick Here
posted by SY at 12:58 PM
0 Comments:
Post a Comment
<< Home