Update 4
Sensex witnesses high volatility
The volatility has been high ahead of expiry of November contracts this Thursday (30 November), where open positions are quite large.At 14:41 IST, the barometer index was down 140.77 points (1.02%) to 13633.38.
The Sensex slipped to a fresh intra-day low of 13577.38, a little while ago. It moved in a range of 13577.38 and 13691.12. 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 3155 crore.Market breadth stayed negative with on BSE with 1003 shares advancing as compared to 1482 that declined. 70 remained unchanged. In early trade, the breadth was quite weak.Among the Sensex pack, 23 declined while the rest advanced.
Hero Honda revs up on hopes of cut in fuel prices
Hero Honda rose 1.6% to Rs 745 and car major Maruti Udyog gained 0.4% to Rs 915 on reports the centre is considering reduction in domestic retail fuel prices.
Both Hero Honda and Maruti Udyog (MUL) scrips have recovered from lower level after a recent setback. From a low of Rs 693.90 on 17 November, Hero Honda has risen to current Rs 745. MUL has recovered to current Rs 915 from Rs 870.10 on 20 November.
There are hopes that a cut in retail price of petrol may boost sales of bikes and cars. Reports today suggest that the centre is considering cut in oil prices. Oil Minister Murli Deora will meet Prime Minister Manmohan Singh later on Tuesday to consider a possible cut in retail fuel prices.
Bonus hopes send Godfrey Phillips surging
Godfrey Phillips jumped 10% to Rs 1140.50 following reports in a section of the media that there are rumours of a liberal bonus issue from the company.There were outstanding buy orders for 2,804 shares at the 10% upper limit.
The company has an equity base of Rs 10.40 crore. It has a hefty book value of Rs 344.30 per share, on face value of Rs 10. Since 1991, the company has issued bonus three times. On all the three occasions, the bonus issue was a liberal 1:1. The last bonus was in 1993.
A thinly traded scrip, Godfrey Phillips witnessed high volatility in the past two months due to alternate bouts of buying and selling. The scrip moved between Rs 1031 to Rs 1145 since late September 2006. The average daily volume in the scrip on BSE in the past one year was 1546 shares.
Pondy Oxides to announce 1:10 bonus issue
Pondy Oxides & Chemicals on Tuesday announced the bonus issue in the ratio of 1 share for every 10 equity shares held by the shareholders, subject to the approval of the members in their extra ordinary general meeting to be held on December 28, 2006.
The board of the company at its meeting held on November 16, 2006, had approved the consolidation of equity shares from Rs 2 to Rs 10, subject to the approval of the shareholders. It had also decided to hold the extra ordinary general meeting to get the approval of the shareholders for the same.
The company will list the shares of the company at National Stock Exchange of India and also consolidate the equity shares of the company.
Pondy Oxides & Chemicals is engaged in the production of metallic oxides and plastic additives. The company also provides zinc oxide, lead monoxide, red lead, lead stabiliser, paint driers, metallic stearates and lubricants.
The volatility has been high ahead of expiry of November contracts this Thursday (30 November), where open positions are quite large.At 14:41 IST, the barometer index was down 140.77 points (1.02%) to 13633.38.
The Sensex slipped to a fresh intra-day low of 13577.38, a little while ago. It moved in a range of 13577.38 and 13691.12. 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 3155 crore.Market breadth stayed negative with on BSE with 1003 shares advancing as compared to 1482 that declined. 70 remained unchanged. In early trade, the breadth was quite weak.Among the Sensex pack, 23 declined while the rest advanced.
Hero Honda revs up on hopes of cut in fuel prices
Hero Honda rose 1.6% to Rs 745 and car major Maruti Udyog gained 0.4% to Rs 915 on reports the centre is considering reduction in domestic retail fuel prices.
Both Hero Honda and Maruti Udyog (MUL) scrips have recovered from lower level after a recent setback. From a low of Rs 693.90 on 17 November, Hero Honda has risen to current Rs 745. MUL has recovered to current Rs 915 from Rs 870.10 on 20 November.
There are hopes that a cut in retail price of petrol may boost sales of bikes and cars. Reports today suggest that the centre is considering cut in oil prices. Oil Minister Murli Deora will meet Prime Minister Manmohan Singh later on Tuesday to consider a possible cut in retail fuel prices.
Bonus hopes send Godfrey Phillips surging
Godfrey Phillips jumped 10% to Rs 1140.50 following reports in a section of the media that there are rumours of a liberal bonus issue from the company.There were outstanding buy orders for 2,804 shares at the 10% upper limit.
The company has an equity base of Rs 10.40 crore. It has a hefty book value of Rs 344.30 per share, on face value of Rs 10. Since 1991, the company has issued bonus three times. On all the three occasions, the bonus issue was a liberal 1:1. The last bonus was in 1993.
A thinly traded scrip, Godfrey Phillips witnessed high volatility in the past two months due to alternate bouts of buying and selling. The scrip moved between Rs 1031 to Rs 1145 since late September 2006. The average daily volume in the scrip on BSE in the past one year was 1546 shares.
Pondy Oxides to announce 1:10 bonus issue
Pondy Oxides & Chemicals on Tuesday announced the bonus issue in the ratio of 1 share for every 10 equity shares held by the shareholders, subject to the approval of the members in their extra ordinary general meeting to be held on December 28, 2006.
The board of the company at its meeting held on November 16, 2006, had approved the consolidation of equity shares from Rs 2 to Rs 10, subject to the approval of the shareholders. It had also decided to hold the extra ordinary general meeting to get the approval of the shareholders for the same.
The company will list the shares of the company at National Stock Exchange of India and also consolidate the equity shares of the company.
Pondy Oxides & Chemicals is engaged in the production of metallic oxides and plastic additives. The company also provides zinc oxide, lead monoxide, red lead, lead stabiliser, paint driers, metallic stearates and lubricants.
posted by SY at 3:21 PM
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