Update 4
Sensex registers small gain
Sensex ended with small gain of 14.78 points to settle at 13,616.73 in volatile trade. After surging over 100 points at the onset of trading tracking firm Asian markets, it gradually pared gains later and it even slipped into the red at one point of time at the fag end of the trading session. It recovered from the red and moved into the green again at close.
Sensex hit a low of 13,586.04 and high of 13,711.76.Liquidation of positions in the November 2006 derivatives contracts ahead of expiry of November contracts on Thursday weighed on the bourses. Five Sensex heavyweights Infosys, ICICI Bank, ONGC, Bharti Airtel and Reliance Industries (RIL) slipped into the red. Cement shares rose on firm cement prices. Auto scrips edged higher after the government cut retail fuel prices.
The broad market depicted bullish trend as gainers outpaced losers by a ratio of 1.77:1 on BSE. Select side counters surged.BSE clocked a turnover of Rs 4388 crore compared to Tuesday’s Rs 4161 crore.
Tie-up with Dr Reddy's Lab boosts Torrent Pharma
Torrent Pharma rose 4.39% to Rs 198.60 after it signed an agreement with Dr Reddy's Lab for exclusive commercialization of Listril and Listril Plus in Russia
The counter saw volume of 62401 shares on BSE. The stock had surged to Rs 206.10 in intra-day trade.The stock slipped in the past few days, from Rs 206.95 on 15 November to Rs 187.30 on 23 November on selling pressure. Here it found support and started moving higher to Rs 190.05 on 28 November.
Bongaigaon Refinery runs out of fuel on setting merger ratio
Bongaigaon Refinery and Petrochemicals slumped 5.50% to Rs 50.65 after Indian Oil Corporation’s board recommended a swap ratio of four IOC shares for every 37 shares held in Bongaigaon Refinery, for merger of Bongaigaon Refinery in IOC.
As many as 3.97 lakh shares were traded on the counter on BSE.Bongaigaon Refinery stock declined from Rs 56.30 on 15 November to Rs 53.60 on 28 November.Bongaigaon Refinery is 74.46% subsidiary of PSU oil refinery and marketing IOC. The company has presence in refinery, petrochemicals and polyster staple fibre.Bongaigaon Refinery & Petrochemicals (BRPL) posted 2.30% rise in net profit to Rs 50.29 crore for Q2 September 2006 as compared to Rs 49.16 crore for Q2 September 2005. Total income increased 40.60% to Rs 1754.89 crore (Rs 1247.89 crore).
NIIT signs pact with ITI, Cairo for building ICT manpower
NIIT has tied up with Information Technology Institute (ITI), Cairo, under the Ministry of Communications & Information Technology, Govt. of Egypt to build a pool of skilled professionals for the ICT industry in the country.
The tie-up is aimed at facilitating and developing a meaningful and mutually beneficial relationship to foster ICT capacity-building by way of class-room and online learning through the `NIIT Inside` model. This innovative business model from the company has its curriculum and training methodology embedded in programmes offered by a large number of universities and colleges in 30 countries across the globe.
L&T JV bags Rs 4.56 bn order from NTPC
Larsen & Toubro, in joint venture (JV) with Alpine Mayreder Bau GmbH, Austria has secured contract valued at Rs 4.56 billion from NTPC (a Government of India enterprise) for the execution of 4 x 130 MW Tapovan Vishnugad hydropower project in Uttaranchal.
The project includes construction of a concrete lined head race tunnel of approximately 11.3 km length and 5.6 m finished diameter, using, partly by, tunnel boring machine and partly by Roadheader or drill and blast. The project is located in district Chamoli on the Dhauliganga river, a major tributary of Alaknanda.
This is the second hydropower project the company will execute in Uttaranchal. The earlier project, Singoli Bhatwari project being implemented through BOT route, is located 125 km from Tapovan Vishnugad.
SBI launches SBI Life’s ‘Bancassurance Online’
SBI Life Insurance Co, India`s leading private life insurance company, announced the launch of `Bancassurance Online` the first e-initiative of its kind with its bancassurance promoter, State Bank of India.
Commenting on the launch, O. P. Bhatt, Chairman SBI said `Bancassurance Online` is a significant step towards integrating insurance with banking and it will provide my staff member’s information as well as education on life insurance.
To Read MoreClick Here
Sensex ended with small gain of 14.78 points to settle at 13,616.73 in volatile trade. After surging over 100 points at the onset of trading tracking firm Asian markets, it gradually pared gains later and it even slipped into the red at one point of time at the fag end of the trading session. It recovered from the red and moved into the green again at close.
Sensex hit a low of 13,586.04 and high of 13,711.76.Liquidation of positions in the November 2006 derivatives contracts ahead of expiry of November contracts on Thursday weighed on the bourses. Five Sensex heavyweights Infosys, ICICI Bank, ONGC, Bharti Airtel and Reliance Industries (RIL) slipped into the red. Cement shares rose on firm cement prices. Auto scrips edged higher after the government cut retail fuel prices.
The broad market depicted bullish trend as gainers outpaced losers by a ratio of 1.77:1 on BSE. Select side counters surged.BSE clocked a turnover of Rs 4388 crore compared to Tuesday’s Rs 4161 crore.
Tie-up with Dr Reddy's Lab boosts Torrent Pharma
Torrent Pharma rose 4.39% to Rs 198.60 after it signed an agreement with Dr Reddy's Lab for exclusive commercialization of Listril and Listril Plus in Russia
The counter saw volume of 62401 shares on BSE. The stock had surged to Rs 206.10 in intra-day trade.The stock slipped in the past few days, from Rs 206.95 on 15 November to Rs 187.30 on 23 November on selling pressure. Here it found support and started moving higher to Rs 190.05 on 28 November.
Bongaigaon Refinery runs out of fuel on setting merger ratio
Bongaigaon Refinery and Petrochemicals slumped 5.50% to Rs 50.65 after Indian Oil Corporation’s board recommended a swap ratio of four IOC shares for every 37 shares held in Bongaigaon Refinery, for merger of Bongaigaon Refinery in IOC.
As many as 3.97 lakh shares were traded on the counter on BSE.Bongaigaon Refinery stock declined from Rs 56.30 on 15 November to Rs 53.60 on 28 November.Bongaigaon Refinery is 74.46% subsidiary of PSU oil refinery and marketing IOC. The company has presence in refinery, petrochemicals and polyster staple fibre.Bongaigaon Refinery & Petrochemicals (BRPL) posted 2.30% rise in net profit to Rs 50.29 crore for Q2 September 2006 as compared to Rs 49.16 crore for Q2 September 2005. Total income increased 40.60% to Rs 1754.89 crore (Rs 1247.89 crore).
NIIT signs pact with ITI, Cairo for building ICT manpower
NIIT has tied up with Information Technology Institute (ITI), Cairo, under the Ministry of Communications & Information Technology, Govt. of Egypt to build a pool of skilled professionals for the ICT industry in the country.
The tie-up is aimed at facilitating and developing a meaningful and mutually beneficial relationship to foster ICT capacity-building by way of class-room and online learning through the `NIIT Inside` model. This innovative business model from the company has its curriculum and training methodology embedded in programmes offered by a large number of universities and colleges in 30 countries across the globe.
L&T JV bags Rs 4.56 bn order from NTPC
Larsen & Toubro, in joint venture (JV) with Alpine Mayreder Bau GmbH, Austria has secured contract valued at Rs 4.56 billion from NTPC (a Government of India enterprise) for the execution of 4 x 130 MW Tapovan Vishnugad hydropower project in Uttaranchal.
The project includes construction of a concrete lined head race tunnel of approximately 11.3 km length and 5.6 m finished diameter, using, partly by, tunnel boring machine and partly by Roadheader or drill and blast. The project is located in district Chamoli on the Dhauliganga river, a major tributary of Alaknanda.
This is the second hydropower project the company will execute in Uttaranchal. The earlier project, Singoli Bhatwari project being implemented through BOT route, is located 125 km from Tapovan Vishnugad.
SBI launches SBI Life’s ‘Bancassurance Online’
SBI Life Insurance Co, India`s leading private life insurance company, announced the launch of `Bancassurance Online` the first e-initiative of its kind with its bancassurance promoter, State Bank of India.
Commenting on the launch, O. P. Bhatt, Chairman SBI said `Bancassurance Online` is a significant step towards integrating insurance with banking and it will provide my staff member’s information as well as education on life insurance.
To Read MoreClick Here
posted by SY at 4:23 PM
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