Update 2
GDP data, IT scrips keep the Sensex busy
IT stocks advanced on renewed buying, even as the Sensex gained further ground, boosted by robust GDP figures.
The domestic economy grew by 9.2% in the July-September quarter from a year earlier, higher than market expectations of 8.90%, data showed. The annual growth rate in the second quarter of the 2006/07 financial year was higher than the April-June rate of 8.9%.
At 12:27 IST the Sensex was up 69.36 points, at 13,686.09. It was off the higher level after hitting 13,745.16, the day's high, within minutes of commencement of trade. Its low for the day was 13,630.90. However, volatility is likely during the latter part of trading as investors square off their positions, or roll over the November 2006 derivative contracts to the December series. The November derivatives contracts expire today. As per reports, NSE F&O Open Interest has shot up by Rs 1,008 crore, to Rs 60,719 crore.
The market-breadth was strong. For 1,354 shares rising on BSE, 1,000 declined. As many as 93 shares were unchanged.The BSE clocked a turnover of Rs 2,153 crore.Among the 30-Sensex pack, 19 advanced while the rest declined.
GDP grows at 9.2% in Q2, agri declines to 1.7%
The country's economy grew by a robust 9.2 per cent in July-September 2006-07 compared to 8.4 per cent in the second quarter of last year on the back of high growth in manufacturing and services sectors.
However, growth in the farm sector, which accounts for about a fifth of the economy, declined to 1.7 per cent during the second quarter this fiscal compared to 4.0 per cent in the same period of 2005-06.
Manufacturing, which contributes 17 per cent in the GDP, registered a growth of 11.9 per cent in July-September 2006 as against 8.1 per cent in the corresponding period of 2005-06.
Patni Computer allots equity shares under ESOP
Patni Computer Systems, an IT services provider company, has allotted 61,130 equity shares of par value of Rs 2 each to certain employees of the company pursuant to the exercise of the options granted to them under the company`s stock option plan 2003 (Patni ESOP 2003).
The compensation committee of directors of the company has allotted the above mentioned shares on November 23, 2006.Patni Computer Systems provides information technology services and business solutions in domains like insurance and other financial services, manufacturing, telecom, logistics, retail etc.
On November 15, the company implemented mySAP ERP solution at Gujarat Reclaim and Rubber Products, the largest producer of reclaimed rubber in Asia. The deployment makes Gujarat Reclaim the first company in the reclaimed rubber Industry to have implemented mySAP.
Dr Reddy`s up on second ADS issue
The shares of Dr Reddy`s Labs were trading higher by 2.23% after it announced that it has issued additional 18 lakh ADSs. The shares are currently trading at Rs 751 (11.57 pm), compared with their previous close of Rs 734.65 (Wednesday). A total of 1,04,582 shares have changed hands at the bourses so far.
Dr Reddy`s Labs, on November 29 2006, announced the issuance of an additional 18 lakh american depositary shares to the underwriters at a public offer price of USD 16 per ADS pursuant to the exercise of the over-allotment option that the company had granted to the underwriters in a previously- announced offering completed on November 22, 2006. A total of 143 lakh ADSs have been issued under the offering (including this issuance).
On November 16, 2006, the company announced the pricing of the public offering of 125 lakh ADSs (excluding the underwriter`s over-allotment option) at a public offer price of USD 16 per ADS.The stock has gained 1.85% over the week and a fall of 0.05% over the month.
IT stocks advanced on renewed buying, even as the Sensex gained further ground, boosted by robust GDP figures.
The domestic economy grew by 9.2% in the July-September quarter from a year earlier, higher than market expectations of 8.90%, data showed. The annual growth rate in the second quarter of the 2006/07 financial year was higher than the April-June rate of 8.9%.
At 12:27 IST the Sensex was up 69.36 points, at 13,686.09. It was off the higher level after hitting 13,745.16, the day's high, within minutes of commencement of trade. Its low for the day was 13,630.90. However, volatility is likely during the latter part of trading as investors square off their positions, or roll over the November 2006 derivative contracts to the December series. The November derivatives contracts expire today. As per reports, NSE F&O Open Interest has shot up by Rs 1,008 crore, to Rs 60,719 crore.
The market-breadth was strong. For 1,354 shares rising on BSE, 1,000 declined. As many as 93 shares were unchanged.The BSE clocked a turnover of Rs 2,153 crore.Among the 30-Sensex pack, 19 advanced while the rest declined.
GDP grows at 9.2% in Q2, agri declines to 1.7%
The country's economy grew by a robust 9.2 per cent in July-September 2006-07 compared to 8.4 per cent in the second quarter of last year on the back of high growth in manufacturing and services sectors.
However, growth in the farm sector, which accounts for about a fifth of the economy, declined to 1.7 per cent during the second quarter this fiscal compared to 4.0 per cent in the same period of 2005-06.
Manufacturing, which contributes 17 per cent in the GDP, registered a growth of 11.9 per cent in July-September 2006 as against 8.1 per cent in the corresponding period of 2005-06.
Patni Computer allots equity shares under ESOP
Patni Computer Systems, an IT services provider company, has allotted 61,130 equity shares of par value of Rs 2 each to certain employees of the company pursuant to the exercise of the options granted to them under the company`s stock option plan 2003 (Patni ESOP 2003).
The compensation committee of directors of the company has allotted the above mentioned shares on November 23, 2006.Patni Computer Systems provides information technology services and business solutions in domains like insurance and other financial services, manufacturing, telecom, logistics, retail etc.
On November 15, the company implemented mySAP ERP solution at Gujarat Reclaim and Rubber Products, the largest producer of reclaimed rubber in Asia. The deployment makes Gujarat Reclaim the first company in the reclaimed rubber Industry to have implemented mySAP.
Dr Reddy`s up on second ADS issue
The shares of Dr Reddy`s Labs were trading higher by 2.23% after it announced that it has issued additional 18 lakh ADSs. The shares are currently trading at Rs 751 (11.57 pm), compared with their previous close of Rs 734.65 (Wednesday). A total of 1,04,582 shares have changed hands at the bourses so far.
Dr Reddy`s Labs, on November 29 2006, announced the issuance of an additional 18 lakh american depositary shares to the underwriters at a public offer price of USD 16 per ADS pursuant to the exercise of the over-allotment option that the company had granted to the underwriters in a previously- announced offering completed on November 22, 2006. A total of 143 lakh ADSs have been issued under the offering (including this issuance).
On November 16, 2006, the company announced the pricing of the public offering of 125 lakh ADSs (excluding the underwriter`s over-allotment option) at a public offer price of USD 16 per ADS.The stock has gained 1.85% over the week and a fall of 0.05% over the month.
posted by SY at 12:50 PM
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