Update 2
Infosys weakens; Sensex pares gain
The Sensex pared gains as a fall in index heavyweight Infosys offset the gain in Reliance Industries (RIL). IT and auto shares were subdued. However, power equipment makers/solutions providers to the power sector were in demand.
At 12:26 IST, Sensex was up 6 points at 13,955. It came off 13,976 at 12:01 IST. The BSE benchmark index attained a high of 13,987.71 and a low of 13,915.74, during the day.The Sensex although volatile, moved within a compact range in mid-morning and early-afternoon trade.The latest FII-data released shows them to be net buyers worth Rs 433 crore, on 5 December.The BSE clocked Rs 1,915 crore in turnover.Infosys lost 1.4% to Rs 2,213. On Wednesday, Infosys ADR shed 0.8% to $54.65. Wipro shed nearly 1% to Rs 584.50 and TCS shed 0.2% to Rs 1,193.
Granules India upbeat about European alliance
Granules India surged 4.60% to Rs 92.05, as it has signed an agreement with a Dutch firm for joint development and marketing of formulations in Europe.The arrangement will start with the Dutch firm, PharmaMatch, transferring existing marketing authorisations to Granules India, for products such as paracetamol.
A total of 21,341 shares changed hands in the counter on BSE.The stock witnessed a steady decline over the past month. From Rs 108.15 on 28 September 2006, it slipped consistently to Rs 88 by 6 December 2006, as selling continued.
Granules India signed a memorandum of understanding (MoU) with Hubei Biocause Heilen Pharmaceutical Company (Biocause), China. The company is acquiring 50% stake in a joint venture manufacturing and sell APIs, including Ibuprofen. Hubei Biocause Heilen Pharmaceutical Company is one of the world's biggest manufacturer and exporter of Ibuprofen.
Under the agreement, the manufacturing bases of Biocause, located in Jingmen, Hubei province, China, will be transferred to the joint venture entity, where both will hold 50:50 stake. Granules will be responsible for the development and growth of the market manufactured by the joint venture.
Adani Enterprises at life high as block deal spawns interest
Adani Enterprises spurted 5% to an all-time high of Rs 232.50, as a block deal in the counter yesterday stirred interest in the scrip.This is also a new all-time high for the counter. The counter clocked 9.34 lakh shares on BSE, with pending buy orders of 1.26 lakh shares at the maximum limit.
On 6 December 2006, a comprehensive deal involving 52 lakh shares was struck on the counter on NSE at an average price of Rs 200.89 per share. The seller was Lotus Global Investment, a foreign institutional investor while Reliance Growth Fund mopped up 28.37 lakh shares at an average Rs 200.50 per share, while another 15 lakh shares were picked-up by Reliance Long Term Equity Fund also at the same price.
The stock surged a whopping 50.29% in the past month, from Rs 145.75 on 6 November, to Rs 221.45 on 6 December on sustained buying.
L&T gains 0.96% on contract news
L&T gained 0.96% on the BSE (12:32 pm) on the news that the company has won a multi-million contract from China.The shares of the company are trading at Rs 1,476.90 as compared with its previous close of Rs 1,462.85 (Wednesday). As many as 1,96,846 shares have changed hands so far at the bourses.
The company will supply three reactors to Chinese oil and gas giant Sinopec.It is understood that the contract could be worth USD 85 - 95 million.The Tianjin branch of China Petroleum & Chemical Corporation (Sinopec), China`s second-largest state-run oil and gas firm, has signed an agreement to this effect with L&T`s heavy engineering division.
The Chinese company, Sinopec, is setting up two one million tonne capacity ethanol plants each in Tianjin and Zhenhai while L&T will supply reactors which would be critical elements in the company`s massive expansion plans.The stock has shown a rise of 7.85% over the week and 11.68% over the month.
Mazda advances 2.81% on order news
The shares of Mazda are trading higher by 2.81% at BSE (12.06 p.m) on news of securing an order worth Rs 17.5 million.
Currently, the shares are trading at Rs 186.5 at BSE compared to the previous day`s close of Rs 181.4 (Wednesday). A total of 1,41,234 shares have changed hands at the bourses.Mazda announced that it secured a contract for supply of multi-stage ethylene glycol vacuum systems amounting to Rs 17.50 million from Jindal Polyfilms.
The company has developed this advanced technology in its own R & D centre which improves the overall plant performance, reduces running cost and eliminates affluent thereby protecting the environment.The stock has shown a rise of 49.8% over the week and 9 times over the month.
The Sensex pared gains as a fall in index heavyweight Infosys offset the gain in Reliance Industries (RIL). IT and auto shares were subdued. However, power equipment makers/solutions providers to the power sector were in demand.
At 12:26 IST, Sensex was up 6 points at 13,955. It came off 13,976 at 12:01 IST. The BSE benchmark index attained a high of 13,987.71 and a low of 13,915.74, during the day.The Sensex although volatile, moved within a compact range in mid-morning and early-afternoon trade.The latest FII-data released shows them to be net buyers worth Rs 433 crore, on 5 December.The BSE clocked Rs 1,915 crore in turnover.Infosys lost 1.4% to Rs 2,213. On Wednesday, Infosys ADR shed 0.8% to $54.65. Wipro shed nearly 1% to Rs 584.50 and TCS shed 0.2% to Rs 1,193.
Granules India upbeat about European alliance
Granules India surged 4.60% to Rs 92.05, as it has signed an agreement with a Dutch firm for joint development and marketing of formulations in Europe.The arrangement will start with the Dutch firm, PharmaMatch, transferring existing marketing authorisations to Granules India, for products such as paracetamol.
A total of 21,341 shares changed hands in the counter on BSE.The stock witnessed a steady decline over the past month. From Rs 108.15 on 28 September 2006, it slipped consistently to Rs 88 by 6 December 2006, as selling continued.
Granules India signed a memorandum of understanding (MoU) with Hubei Biocause Heilen Pharmaceutical Company (Biocause), China. The company is acquiring 50% stake in a joint venture manufacturing and sell APIs, including Ibuprofen. Hubei Biocause Heilen Pharmaceutical Company is one of the world's biggest manufacturer and exporter of Ibuprofen.
Under the agreement, the manufacturing bases of Biocause, located in Jingmen, Hubei province, China, will be transferred to the joint venture entity, where both will hold 50:50 stake. Granules will be responsible for the development and growth of the market manufactured by the joint venture.
Adani Enterprises at life high as block deal spawns interest
Adani Enterprises spurted 5% to an all-time high of Rs 232.50, as a block deal in the counter yesterday stirred interest in the scrip.This is also a new all-time high for the counter. The counter clocked 9.34 lakh shares on BSE, with pending buy orders of 1.26 lakh shares at the maximum limit.
On 6 December 2006, a comprehensive deal involving 52 lakh shares was struck on the counter on NSE at an average price of Rs 200.89 per share. The seller was Lotus Global Investment, a foreign institutional investor while Reliance Growth Fund mopped up 28.37 lakh shares at an average Rs 200.50 per share, while another 15 lakh shares were picked-up by Reliance Long Term Equity Fund also at the same price.
The stock surged a whopping 50.29% in the past month, from Rs 145.75 on 6 November, to Rs 221.45 on 6 December on sustained buying.
L&T gains 0.96% on contract news
L&T gained 0.96% on the BSE (12:32 pm) on the news that the company has won a multi-million contract from China.The shares of the company are trading at Rs 1,476.90 as compared with its previous close of Rs 1,462.85 (Wednesday). As many as 1,96,846 shares have changed hands so far at the bourses.
The company will supply three reactors to Chinese oil and gas giant Sinopec.It is understood that the contract could be worth USD 85 - 95 million.The Tianjin branch of China Petroleum & Chemical Corporation (Sinopec), China`s second-largest state-run oil and gas firm, has signed an agreement to this effect with L&T`s heavy engineering division.
The Chinese company, Sinopec, is setting up two one million tonne capacity ethanol plants each in Tianjin and Zhenhai while L&T will supply reactors which would be critical elements in the company`s massive expansion plans.The stock has shown a rise of 7.85% over the week and 11.68% over the month.
Mazda advances 2.81% on order news
The shares of Mazda are trading higher by 2.81% at BSE (12.06 p.m) on news of securing an order worth Rs 17.5 million.
Currently, the shares are trading at Rs 186.5 at BSE compared to the previous day`s close of Rs 181.4 (Wednesday). A total of 1,41,234 shares have changed hands at the bourses.Mazda announced that it secured a contract for supply of multi-stage ethylene glycol vacuum systems amounting to Rs 17.50 million from Jindal Polyfilms.
The company has developed this advanced technology in its own R & D centre which improves the overall plant performance, reduces running cost and eliminates affluent thereby protecting the environment.The stock has shown a rise of 49.8% over the week and 9 times over the month.
posted by SY at 1:19 PM
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