Update 1
Sensex takes 26 trading sessions to reach 14,000 from 13,000
The Sensex came off the higher level after striking the psychologically important level of 14,000 in opening trade.At 10:24 IST, Sensex was up 69 points at 13,943. Sensex opened with an upward gap of 154.14 points at 14,028.47, a record high.
It took just 26 trading sessions for the Sensex to reache 14,000 level after it had first struck 13,000 mark on 30 October. The 1,000 points point rally came in without any worthwhile correction. Strong FII inflow, healthy corporate earnings and continued strong economic data fuelled the surge. The latest surge on the bourses was also fuelled by expectations of reduction in transport costs for corporates after the government last week cut diesel price by rupee one litre and petrol price by Rs 2 per litre.
The cumulative FII inflow in 2006 has reached $8.9 billion compared to a record inflow of $10.7 billion in 2005. Strong global liquidity has aided FII inflow.
The latest 1,000 points surge in Sensex came in at a much faster pace compared to the previous 1,000 points from 12,000 to 13,000 which took little over 6 months thanks to a major setback on the bourses in May-June 2006.
Block deal powers Bharat Bijlee
Bharat Bijlee jumped 4.29% to Rs 1240.55 after a block deal was struck on the counter.A block deal of 1.45 lakh shares was struck on the counter at Rs 1180 per share on BSE by 10:23 IST. The stock had surged to intra-day high of Rs 1275 just after the block deal was executed.
The stock surged in the past few days from Rs 1089.40 on 20 November to Rs 1205 on 1 December as buying continued. Here it witnessed profit booking and slipped to Rs 1189.55 on 4 December.
Bharat Bijlee had inaugurated its new transformer factory on 22 March 2006, increasing its manufacturing capacity to more than 8,000 MVA per annum.
With enhanced transformer production capacity, the company is set to benefit from the growing demand for transformers, triggered by strong investment in pipeline in the power sector.Bharat Bijlee is a leading manufacturer of transformers and motors.
Bharat Bijlee reported 75.60% rise in net profit to Rs 8.62 crore for Q2 September 2006 as compared to a net profit of Rs 4.91 crore in Q2 September 2005. Net sales jumped 103.80% to Rs 110.15 crore (Rs 54.05 crore).
The Sensex came off the higher level after striking the psychologically important level of 14,000 in opening trade.At 10:24 IST, Sensex was up 69 points at 13,943. Sensex opened with an upward gap of 154.14 points at 14,028.47, a record high.
It took just 26 trading sessions for the Sensex to reache 14,000 level after it had first struck 13,000 mark on 30 October. The 1,000 points point rally came in without any worthwhile correction. Strong FII inflow, healthy corporate earnings and continued strong economic data fuelled the surge. The latest surge on the bourses was also fuelled by expectations of reduction in transport costs for corporates after the government last week cut diesel price by rupee one litre and petrol price by Rs 2 per litre.
The cumulative FII inflow in 2006 has reached $8.9 billion compared to a record inflow of $10.7 billion in 2005. Strong global liquidity has aided FII inflow.
The latest 1,000 points surge in Sensex came in at a much faster pace compared to the previous 1,000 points from 12,000 to 13,000 which took little over 6 months thanks to a major setback on the bourses in May-June 2006.
Block deal powers Bharat Bijlee
Bharat Bijlee jumped 4.29% to Rs 1240.55 after a block deal was struck on the counter.A block deal of 1.45 lakh shares was struck on the counter at Rs 1180 per share on BSE by 10:23 IST. The stock had surged to intra-day high of Rs 1275 just after the block deal was executed.
The stock surged in the past few days from Rs 1089.40 on 20 November to Rs 1205 on 1 December as buying continued. Here it witnessed profit booking and slipped to Rs 1189.55 on 4 December.
Bharat Bijlee had inaugurated its new transformer factory on 22 March 2006, increasing its manufacturing capacity to more than 8,000 MVA per annum.
With enhanced transformer production capacity, the company is set to benefit from the growing demand for transformers, triggered by strong investment in pipeline in the power sector.Bharat Bijlee is a leading manufacturer of transformers and motors.
Bharat Bijlee reported 75.60% rise in net profit to Rs 8.62 crore for Q2 September 2006 as compared to a net profit of Rs 4.91 crore in Q2 September 2005. Net sales jumped 103.80% to Rs 110.15 crore (Rs 54.05 crore).
posted by SY at 11:21 AM
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