Update 1
Sensex within striking distance of 13,800
The market firmed up further with the Sensex hitting all time high just under 13,800 tracking mostly firm Asian markets.
Cement shares edged higher but NTPC pared gain. Refinery shares were subdued.Asian markets were steady to firm. Key benchmark indices in Japan, Singapore, South Korea and Taiwan were up by between 0.2% to 0.9%.
At 12:21 IST, Sensex was up 93 points at 13,796. Sensex hit a high of 13,798.55 at 12:19 IST which is a new all time high for the barometer index.The market breadth was strong. 1527 shares rose on BSE as compared to 809 shares that declined. 68 shares were unchanged. Gainers outpaced losers by a ratio of 1.88:1.BSE clocked a turnover of Rs 2039 crore.
Bharti Airtel in demand
Bharti Airtel rose 2% to Rs 629 on reports its group company Bharti Enterprises has signed a tie-up deal with US retailer Wal-Mart to open a chain of retail stores across the country.1.45 lakh shares changed hands on the counter on BSE.
The stock witnessed a solid surge in the past two months. From Rs 459.10 on 5 October 2006, it surged 39% to Rs 638.20 by 22 November on sustained buying interest. Here it witnessed profit booking and slipped to Rs 623.05 on 24 November.
For Detailed ArticleClick Here
NTPC fights back, regains number three market cap slot
State run power generation major NTPC today overtook software bellwether Infosys to become the third largest company in India in terms of market capitalization.
If Friday (24 November) marked NTPC regain in the number four slot from Bharti Airtel which it had lost to the latter only recently, today’s trading session marked the company moving one step up further to become the third largest company in terms of market capitalization.
NTPC’s market cap currently stands at Rs 128958.99 crore compared to Infosys’ Rs 123830.56 crore.
Mahindra & Mahindra advances on acquisition
Mahindra & Mahindra (M&M) rose 0.57% to Rs 842.45 after it entered into an agreement to acquire 66% equity stake in DGP Hinoday Industries (Hinoday).
M&M shall acquire the shares from the existing shareholders, DG Piramal Group and India Private Equity Fund Mauritius. Hitachi Metals holds the balance 34% equity stake. The deal size was however not disclosed.17455 shares were traded on the counter on BSE
In the past few days, the stock witnessed a steady rally, as buying continued. From Rs 764.45 on 06 November 2006, the stock surged to Rs 840.20 on 22 November 2006. From here it slipped to Rs 837.65 on 24 November, on profit booking.
For Detailed ArticleClick Here
The market firmed up further with the Sensex hitting all time high just under 13,800 tracking mostly firm Asian markets.
Cement shares edged higher but NTPC pared gain. Refinery shares were subdued.Asian markets were steady to firm. Key benchmark indices in Japan, Singapore, South Korea and Taiwan were up by between 0.2% to 0.9%.
At 12:21 IST, Sensex was up 93 points at 13,796. Sensex hit a high of 13,798.55 at 12:19 IST which is a new all time high for the barometer index.The market breadth was strong. 1527 shares rose on BSE as compared to 809 shares that declined. 68 shares were unchanged. Gainers outpaced losers by a ratio of 1.88:1.BSE clocked a turnover of Rs 2039 crore.
Bharti Airtel in demand
Bharti Airtel rose 2% to Rs 629 on reports its group company Bharti Enterprises has signed a tie-up deal with US retailer Wal-Mart to open a chain of retail stores across the country.1.45 lakh shares changed hands on the counter on BSE.
The stock witnessed a solid surge in the past two months. From Rs 459.10 on 5 October 2006, it surged 39% to Rs 638.20 by 22 November on sustained buying interest. Here it witnessed profit booking and slipped to Rs 623.05 on 24 November.
For Detailed ArticleClick Here
NTPC fights back, regains number three market cap slot
State run power generation major NTPC today overtook software bellwether Infosys to become the third largest company in India in terms of market capitalization.
If Friday (24 November) marked NTPC regain in the number four slot from Bharti Airtel which it had lost to the latter only recently, today’s trading session marked the company moving one step up further to become the third largest company in terms of market capitalization.
NTPC’s market cap currently stands at Rs 128958.99 crore compared to Infosys’ Rs 123830.56 crore.
Mahindra & Mahindra advances on acquisition
Mahindra & Mahindra (M&M) rose 0.57% to Rs 842.45 after it entered into an agreement to acquire 66% equity stake in DGP Hinoday Industries (Hinoday).
M&M shall acquire the shares from the existing shareholders, DG Piramal Group and India Private Equity Fund Mauritius. Hitachi Metals holds the balance 34% equity stake. The deal size was however not disclosed.17455 shares were traded on the counter on BSE
In the past few days, the stock witnessed a steady rally, as buying continued. From Rs 764.45 on 06 November 2006, the stock surged to Rs 840.20 on 22 November 2006. From here it slipped to Rs 837.65 on 24 November, on profit booking.
For Detailed ArticleClick Here
posted by SY at 1:14 PM
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