Update 3
Sensex down 105 pts at 13,688.52
The market is still trading in the negative zone. It has touched a low of 13,588.51. Selling pressure is being witnessed across the board. Banking, IT, pharma, steel, telecom and auto stocks are trading lower.
The BSE Sensex is currently trading at 13,688.52, down 105.07 points (12.54 p.m).Out of the total 2449 stocks traded on the bourses so far, 1090 have moved up, 1284 have dropped and 75 remained unchanged.
Leaders on the index include Hero Honda, which inched up 0.94% to Rs 740, Grasim, which moved up 0.72% to Rs 2713 and Reliance, which gained 0.68% to Rs 1260.25. Maruti, Bharti Airtel and Gujarat Ambuja also ruled the gainers` charts.
Laggards on the BSE Sensex were Wipro, that declined 2.61% to Rs 585.95, Infosys, that dipped 2.25% to Rs 2177 and Satyam, that slid 2.01% to Rs 455.15. ICICI Bank, NTPC and Tata Steel were among the other losers.
Force Motors in top gear
Force Motors jumped 5% to Rs 439.75 after the company’s board approved the transfer of assets and liabilities of the heavy commercial vehicles division to its subsidiary Man Force Trucks.
The company also approved investment of Rs 100 crore as equity capital in this subsidiary.1,707 shares changed hands in the counter on BSE.A solid surge in the scrip in the second half of September 2006 proved short lived when the scrip slipped to Rs 408.70 on 9 November from Rs 523.25 on 6 October. The scrip moved between Rs 410 to Rs 438 since early this month.
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Infotrek Syscom to invest USD 5 mn
Infotrek Syscom, the e-waste management and re-cycling company, has planned to invest more than USD 5 million for having main equipments in their plant. They would comprise equipments like sheer, hammer mill, magnetic current separation system, baler, CRT separation system, cable stripper, material handling equipments and testing tools for the proposed capacity of 7,200 tons on two shift basis.
The company proposes to have eight collection centers spread over India in the next one year, to facilitate seamless e-waste management.
The company is working on the structured recycling process in collaboration with Global Electric Electronic Processing (GEEP). With GEEP`s expertise, this project would be known for Waste Electrical & Electronic Equipments (WEEE) Recycling Revolution in the organized sector in India. The company is associated with GEEP for setting up this facility for the first time in India, wherein 98-99% of all the basic ingredients will be recovered.
Infotrek Syscom is the only member of International Association of Electronic Recyclers, USA from India and is a promoter of a concept called E-Exchange India in association with Re-cyclenet Corporation, USA.
Hindustan Zinc clears ECB worth USD 125 mn
Hindustan Zinc on Tuesday said that it has made repayment of external commercial borrowing (ECB) of USD 125 million, which includes prepayment of USD 95 million.
The company posted a net profit of Rs 12,980 million during the quarter ended September 30, 2006 as compared with Rs 1,960 million for the quarter ended September 30, 2005.Total income has increased to Rs 24870 million for the quarter ended September 30, 2006 from Rs 7060 million for the quarter ended September 30, 2005.
Hindustan Zinc is India`s leading zinc producer. The company is a part of Vedanta Resources, a London-listed metals and mining major with aluminium, copper and zinc operations in UK, India and Australia. It is engaged in mining and refining ore to produce non-ferrous metals, zinc, lead and silver.
The market is still trading in the negative zone. It has touched a low of 13,588.51. Selling pressure is being witnessed across the board. Banking, IT, pharma, steel, telecom and auto stocks are trading lower.
The BSE Sensex is currently trading at 13,688.52, down 105.07 points (12.54 p.m).Out of the total 2449 stocks traded on the bourses so far, 1090 have moved up, 1284 have dropped and 75 remained unchanged.
Leaders on the index include Hero Honda, which inched up 0.94% to Rs 740, Grasim, which moved up 0.72% to Rs 2713 and Reliance, which gained 0.68% to Rs 1260.25. Maruti, Bharti Airtel and Gujarat Ambuja also ruled the gainers` charts.
Laggards on the BSE Sensex were Wipro, that declined 2.61% to Rs 585.95, Infosys, that dipped 2.25% to Rs 2177 and Satyam, that slid 2.01% to Rs 455.15. ICICI Bank, NTPC and Tata Steel were among the other losers.
Force Motors in top gear
Force Motors jumped 5% to Rs 439.75 after the company’s board approved the transfer of assets and liabilities of the heavy commercial vehicles division to its subsidiary Man Force Trucks.
The company also approved investment of Rs 100 crore as equity capital in this subsidiary.1,707 shares changed hands in the counter on BSE.A solid surge in the scrip in the second half of September 2006 proved short lived when the scrip slipped to Rs 408.70 on 9 November from Rs 523.25 on 6 October. The scrip moved between Rs 410 to Rs 438 since early this month.
To Read MoreClick Here
Infotrek Syscom to invest USD 5 mn
Infotrek Syscom, the e-waste management and re-cycling company, has planned to invest more than USD 5 million for having main equipments in their plant. They would comprise equipments like sheer, hammer mill, magnetic current separation system, baler, CRT separation system, cable stripper, material handling equipments and testing tools for the proposed capacity of 7,200 tons on two shift basis.
The company proposes to have eight collection centers spread over India in the next one year, to facilitate seamless e-waste management.
The company is working on the structured recycling process in collaboration with Global Electric Electronic Processing (GEEP). With GEEP`s expertise, this project would be known for Waste Electrical & Electronic Equipments (WEEE) Recycling Revolution in the organized sector in India. The company is associated with GEEP for setting up this facility for the first time in India, wherein 98-99% of all the basic ingredients will be recovered.
Infotrek Syscom is the only member of International Association of Electronic Recyclers, USA from India and is a promoter of a concept called E-Exchange India in association with Re-cyclenet Corporation, USA.
Hindustan Zinc clears ECB worth USD 125 mn
Hindustan Zinc on Tuesday said that it has made repayment of external commercial borrowing (ECB) of USD 125 million, which includes prepayment of USD 95 million.
The company posted a net profit of Rs 12,980 million during the quarter ended September 30, 2006 as compared with Rs 1,960 million for the quarter ended September 30, 2005.Total income has increased to Rs 24870 million for the quarter ended September 30, 2006 from Rs 7060 million for the quarter ended September 30, 2005.
Hindustan Zinc is India`s leading zinc producer. The company is a part of Vedanta Resources, a London-listed metals and mining major with aluminium, copper and zinc operations in UK, India and Australia. It is engaged in mining and refining ore to produce non-ferrous metals, zinc, lead and silver.
posted by SY at 1:27 PM
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