Update 2
Market breadth recovers from early trade
Although the market breadth was negative, it has recovered from that of opening session, as buying support emerged for small-cap and mid-cap stocks.
At 12:35 IST, the barometer index was down 96.82 points (0.71%) to 13676.88. After declining to an intra-day low of 13588.51 in early trade, the Sensex recovered smartly as buying support emerged at lower level. It moved in a range of 13588.51 and 13690.67. Weakness across global bourses and fall in Indian ADRs on Monday weighed on the bourses in early trade.
The total turnover on BSE was Rs 2029 crore.Market breadth was negative with on BSE with 1044 shares advancing as compared to 1285 that declined. 77 remained unchanged. In early trade, the breadth was quite weak.Among the Sensex pack, 22 declined while the rest advanced.
Order win lifts IVRCL Infrastructures
IVRCL Infrastructures & Projects gained 1.6% to Rs 417.50 after the company bagged orders worth Rs 388 crore from the irrigation department of the Andhra Pradesh government.
The orders will be executed along with its joint venture partners, the company said.
6.7 lakh shares changed hands in the counter on BSE.Ahead of the news, the stock had lost 3.2% to Rs 410.90 on 27 November. The stock had surged in the past few days on market talks it considering a listing for its real estate subsidiary that will help unlock value for the shareholders. From Rs 324.90 on 17 November, the stock rose 30.7% in a short while to Rs 424.70 on 24 November.
As per reports, IVR Prime the real estate arm of IVRCL Infrastructures is likely to file its prospectus in the next few weeks and it is reportedly scouting for a private equity investor for pre-IPO placement.
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China's ZTE bags $700 mn order from Reliance
China telecom equipment provider ZTE Corp has signed deals to supply $700 million in telecommunications hardware to Indian conglomerate Reliance Industries, Chinese media reported on Tuesday.
Combined, the deals are believed to be the largest overseas order ever for a Chinese telecommunications firm, the Beijing News reported.They include equipment for more than 4,300 base stations and 2.5 million handsets, the paper said. ZTE is China's largest listed telecommunications equipment company.
Although the market breadth was negative, it has recovered from that of opening session, as buying support emerged for small-cap and mid-cap stocks.
At 12:35 IST, the barometer index was down 96.82 points (0.71%) to 13676.88. After declining to an intra-day low of 13588.51 in early trade, the Sensex recovered smartly as buying support emerged at lower level. It moved in a range of 13588.51 and 13690.67. Weakness across global bourses and fall in Indian ADRs on Monday weighed on the bourses in early trade.
The total turnover on BSE was Rs 2029 crore.Market breadth was negative with on BSE with 1044 shares advancing as compared to 1285 that declined. 77 remained unchanged. In early trade, the breadth was quite weak.Among the Sensex pack, 22 declined while the rest advanced.
Order win lifts IVRCL Infrastructures
IVRCL Infrastructures & Projects gained 1.6% to Rs 417.50 after the company bagged orders worth Rs 388 crore from the irrigation department of the Andhra Pradesh government.
The orders will be executed along with its joint venture partners, the company said.
6.7 lakh shares changed hands in the counter on BSE.Ahead of the news, the stock had lost 3.2% to Rs 410.90 on 27 November. The stock had surged in the past few days on market talks it considering a listing for its real estate subsidiary that will help unlock value for the shareholders. From Rs 324.90 on 17 November, the stock rose 30.7% in a short while to Rs 424.70 on 24 November.
As per reports, IVR Prime the real estate arm of IVRCL Infrastructures is likely to file its prospectus in the next few weeks and it is reportedly scouting for a private equity investor for pre-IPO placement.
To Read MoreClick Here
China's ZTE bags $700 mn order from Reliance
China telecom equipment provider ZTE Corp has signed deals to supply $700 million in telecommunications hardware to Indian conglomerate Reliance Industries, Chinese media reported on Tuesday.
Combined, the deals are believed to be the largest overseas order ever for a Chinese telecommunications firm, the Beijing News reported.They include equipment for more than 4,300 base stations and 2.5 million handsets, the paper said. ZTE is China's largest listed telecommunications equipment company.
posted by SY at 12:43 PM
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