Update 2
Sensex regains further ground
The BSE Sensex staged a smart recovery on strong buying support for the index pivotals at lower level and is now above the 13550 mark. Earlier during the day, it had plunged close to 200 points to touch an intra-day low of 13416.40
At 12:39 IST, Sensex was up down 47.06 points at 13,567.46. It opened 81.08 points higher at 13,695.60 and advanced to hit an intra-day high of 13,725.67. But soon from here, it started declining, on intense selling pressure.
The total turnover on BSE amounted to Rs 1765 crore.Market breadth was negative, thought it had recovered from initial weakness, as buying resumed for small-cap and mid-cap stocks. On BSE, 1304 shares declined as compared to 1025 that advanced. 74 shares remained unchanged.Among the Sensex pack, 18 declined while the rest advanced.
Tata Motors revs up
Tata Motors rose 1.6% to Rs 871.80 after the company said on Monday it had entered a joint venture with Thailand's Thonburi to make pick-up trucks.1.6 lakh shares changed hands in the counter on BSE.The stock had recovered from lower level in the past three days following a broad market recovery. From Rs 820.50 on 12 December, the scrip had surged 4.5% to Rs 857.80 by 15 December. Earlier, the stock had lost 8% in three days when Sensex had plunged 977 points.
Tata Motors will hold 70 percent of the venture with Thonburi, which assembles automobiles. The pick-up trucks will be made at Thonburi's facility in Thailand and will be sold locally and exported to other markets in the region. Production will start in a year's time, Tata Motors said in a statement. No financial details were disclosed. "The joint venture will enable the company to address the Thailand market, the second-largest pick-up market in the world after the US," Tata Motors said.
Last week Tata Motors said its joint venture with Fiat will invest Rs 4,000 crore in a car and engine making facility at Ranjangaon, Pune. The Tata Motors-Fiat JV will have an annual capacity in excess of 1,00,000 cars and 200,000 engines and transmissions, and production will start from the beginning of 2008.
Tata Motors also said it will continue discussions with Fiat for cooperation in Latin America. Fiat in November said, it would make Tata Motors' new 1-tonne pick-up truck at its plant in Argentina, from the second half of fiscal 2008.
KPIT Cummins Infosystems to announce bonus
KPIT Cummins Infosystems has decided to have a board meeting on Dec. 26, 2006 to fix and announce the record date for sub-division of shares from Rs 5 each to Rs 2 each.
The meeting will also consider the announcement of bonus equity shares in the ratio of one bonus share for one equity share of the company.
KPIT Cummins Infosystems was established in 2002 following the merger of KPIT Infosystems with Cummins Infotech, a subsidiary of Cummins, USA. It has development centers in India, with global subsidiaries in USA, UK, Asia Pacific and the Middle East.
The company is engaged in providing advanced technology solutions, business IT & intelligence and outsourcing services in the verticals of manufacturing and diversified financial services. It has strategic partnerships with Cummins, Lehman Brothers, SAP, Oracle, Microsoft and SH Mobile.
Shares of the company were last trading up Rs 10.70, or 1.80% at Rs 604.90 at BSE. (11.42 am, Monday). The volume of the shares trading at BSE is 41,749.
The BSE Sensex staged a smart recovery on strong buying support for the index pivotals at lower level and is now above the 13550 mark. Earlier during the day, it had plunged close to 200 points to touch an intra-day low of 13416.40
At 12:39 IST, Sensex was up down 47.06 points at 13,567.46. It opened 81.08 points higher at 13,695.60 and advanced to hit an intra-day high of 13,725.67. But soon from here, it started declining, on intense selling pressure.
The total turnover on BSE amounted to Rs 1765 crore.Market breadth was negative, thought it had recovered from initial weakness, as buying resumed for small-cap and mid-cap stocks. On BSE, 1304 shares declined as compared to 1025 that advanced. 74 shares remained unchanged.Among the Sensex pack, 18 declined while the rest advanced.
Tata Motors revs up
Tata Motors rose 1.6% to Rs 871.80 after the company said on Monday it had entered a joint venture with Thailand's Thonburi to make pick-up trucks.1.6 lakh shares changed hands in the counter on BSE.The stock had recovered from lower level in the past three days following a broad market recovery. From Rs 820.50 on 12 December, the scrip had surged 4.5% to Rs 857.80 by 15 December. Earlier, the stock had lost 8% in three days when Sensex had plunged 977 points.
Tata Motors will hold 70 percent of the venture with Thonburi, which assembles automobiles. The pick-up trucks will be made at Thonburi's facility in Thailand and will be sold locally and exported to other markets in the region. Production will start in a year's time, Tata Motors said in a statement. No financial details were disclosed. "The joint venture will enable the company to address the Thailand market, the second-largest pick-up market in the world after the US," Tata Motors said.
Last week Tata Motors said its joint venture with Fiat will invest Rs 4,000 crore in a car and engine making facility at Ranjangaon, Pune. The Tata Motors-Fiat JV will have an annual capacity in excess of 1,00,000 cars and 200,000 engines and transmissions, and production will start from the beginning of 2008.
Tata Motors also said it will continue discussions with Fiat for cooperation in Latin America. Fiat in November said, it would make Tata Motors' new 1-tonne pick-up truck at its plant in Argentina, from the second half of fiscal 2008.
KPIT Cummins Infosystems to announce bonus
KPIT Cummins Infosystems has decided to have a board meeting on Dec. 26, 2006 to fix and announce the record date for sub-division of shares from Rs 5 each to Rs 2 each.
The meeting will also consider the announcement of bonus equity shares in the ratio of one bonus share for one equity share of the company.
KPIT Cummins Infosystems was established in 2002 following the merger of KPIT Infosystems with Cummins Infotech, a subsidiary of Cummins, USA. It has development centers in India, with global subsidiaries in USA, UK, Asia Pacific and the Middle East.
The company is engaged in providing advanced technology solutions, business IT & intelligence and outsourcing services in the verticals of manufacturing and diversified financial services. It has strategic partnerships with Cummins, Lehman Brothers, SAP, Oracle, Microsoft and SH Mobile.
Shares of the company were last trading up Rs 10.70, or 1.80% at Rs 604.90 at BSE. (11.42 am, Monday). The volume of the shares trading at BSE is 41,749.
posted by SY at 12:57 PM
0 Comments:
Post a Comment
<< Home