Update1
Sensex sets new record; trades above 13,800
The BSE Sensex surged over a 100 points by early-trade and even struck a record high above 13,800, as banks firmed up.
Blue chips rose on renewed buying, inspired by a stronger-than- expected 9.2% GDP growth rate for Q2 ended September 2006. The data was released on Thursday during trading hours. Index heavyweights Reliance Industries, Infosys and ICICI Bank firmed up.
At 10:59 IST the Sensex was up 116 points, at 13,812. It had struck an all-time high (13,819.06), exceeding its previous best at 13,799.08 of Monday's trading.The market-breadth was strong. For 1,436 shares that rose on BSE, 652 declined. As many as 51 shares were unchanged. Gainers outpaced losers by a ratio of 2.2:1.The BSE clocked a turnover of Rs 1,156 crore.Reliance Industries rose 1.4% to Rs 1,262.50. As many as 2 lakh shares changed hands in the counter on BSE.Bajaj Auto edged higher after its bike sales rose 36% in November 2006, to 2.14 lakh units from 1.57 lakh units in November 2005.Software major Infosys gained 1% to Rs 2,203. On Thursday, Infosys ADR rose 0.39% to $53.53.
MUL inches forward on healthy Nov sales
Maruti Udyog rose 0.7% to Rs 932, extending its rebound after the company reported selling 55,033 vehicles in November, a 16.1% rise y-o-y.A total of 15,687 shares changed hands in the counter on BSE.The company said domestic sales rose an annual 20.7% to 52,574, but exports fell 35.7% to 2,459 units.
The stock had witnessed a strong rebound from the lower level in the past few days. Recently, the upmove in the scrip was aided by hopes of a pick up in sales after the government on Wednesday announced a cut of Rs 2 per litre in petrol. From a low of Rs 870.10 on 20 November, it had surged to Rs 924.95 by 30 November 2006.Earlier, Maruti scrip had witnessed a setback early last month after Nissan Motor Company said it had discontinued talks with Suzuki Motor Corporation for a project in India.
Indiabulls Financial jumps as foreign funds acquire stake in realty arm
Indiabulls Financial Services rose 2.95% to Rs 589, after it sold 13.33% stake in its wholly-owned unit, Indiabulls Infrastructure Development, for Rs 447 crore.
Karrick and FIM Holding B will buy this stake (13.33%) in Indiabulls Infrastructure Development. While Karrick will buy 3.33% equity for Rs 111.75 crore on behalf of LN Mittal, FIM Holding B, a wholly-owned subsidiary of Farallon Funds and managed by Farallon Capital Management based in San Francisco, US, will acquire 10% equity for Rs 335.25 crore.
Post the new investments, the shareholding of the company (Indiabulls Financial Services) in Indiabulls Infrastructure Development will decrease from 100% to 86.67%. Karrick will be allotted a total of 25 lakh shares at a premium of Rs 437 per share of Rs 10 each. FIM Holding B will be allotted a total of 75 lakh shares at a premium of Rs 437 per share, of face value Rs 10.
The counter clocked 6.76 lakh shares on BSE.The stock surged sharply in the past two days ahead of such allotment by the company. From Rs 528.05 on 28 November, the stock surged to Rs 572.10 by 30 November on strong demand.
TO READ MORE CLICK HERE
Thomas Cook India cuts loose on takeover speculation
Thomas Cook India jumped 5.30% to Rs 540, amid reports that it will buy stake in unlisted Travel Corporation of India.As many as 2,388 shares changed hands in the counter on BSE.The stock had declined in the last few days, after the company reported poor October quarter results. From Rs 552.70 on 14 November, the scrip declined to Rs 512.80 by 30 November, as selling continued.
Interestingly, the company has scheduled a meeting of the board of directors on 1 December 2006 (today), to consider merger/acquisition proposals.
TO READ MORE CLICK HERE
Bajaj Auto gathers pace on Nov sales
Bajaj Auto rose 1.62% to Rs 2,683.25, after its sales for November rose 33% from a year ago.Motorcycle sales rose 36% to 2,14,321 units, while that of all two-wheelers grew 29% to 2,14,329 units, the company said in a statement today. Sales of three-wheelers were up 71% at 29,384 units, while exports rose 56% to 36,086.As many as 20,777 shares changed hands in the counter on BSE.
The stock recovered steadily after a sharp fall, after it expected margins to remain under pressure at the time of Q2 results. From Rs 2,562.45 on 17 November, the stock recovered steadily to Rs 2,644.75 on 30 November, as buying continued. Also, the latest cut of Rs 2 per litre in petrol, will help improve sales.
TO READ MORECLICK HERE
The BSE Sensex surged over a 100 points by early-trade and even struck a record high above 13,800, as banks firmed up.
Blue chips rose on renewed buying, inspired by a stronger-than- expected 9.2% GDP growth rate for Q2 ended September 2006. The data was released on Thursday during trading hours. Index heavyweights Reliance Industries, Infosys and ICICI Bank firmed up.
At 10:59 IST the Sensex was up 116 points, at 13,812. It had struck an all-time high (13,819.06), exceeding its previous best at 13,799.08 of Monday's trading.The market-breadth was strong. For 1,436 shares that rose on BSE, 652 declined. As many as 51 shares were unchanged. Gainers outpaced losers by a ratio of 2.2:1.The BSE clocked a turnover of Rs 1,156 crore.Reliance Industries rose 1.4% to Rs 1,262.50. As many as 2 lakh shares changed hands in the counter on BSE.Bajaj Auto edged higher after its bike sales rose 36% in November 2006, to 2.14 lakh units from 1.57 lakh units in November 2005.Software major Infosys gained 1% to Rs 2,203. On Thursday, Infosys ADR rose 0.39% to $53.53.
MUL inches forward on healthy Nov sales
Maruti Udyog rose 0.7% to Rs 932, extending its rebound after the company reported selling 55,033 vehicles in November, a 16.1% rise y-o-y.A total of 15,687 shares changed hands in the counter on BSE.The company said domestic sales rose an annual 20.7% to 52,574, but exports fell 35.7% to 2,459 units.
The stock had witnessed a strong rebound from the lower level in the past few days. Recently, the upmove in the scrip was aided by hopes of a pick up in sales after the government on Wednesday announced a cut of Rs 2 per litre in petrol. From a low of Rs 870.10 on 20 November, it had surged to Rs 924.95 by 30 November 2006.Earlier, Maruti scrip had witnessed a setback early last month after Nissan Motor Company said it had discontinued talks with Suzuki Motor Corporation for a project in India.
Indiabulls Financial jumps as foreign funds acquire stake in realty arm
Indiabulls Financial Services rose 2.95% to Rs 589, after it sold 13.33% stake in its wholly-owned unit, Indiabulls Infrastructure Development, for Rs 447 crore.
Karrick and FIM Holding B will buy this stake (13.33%) in Indiabulls Infrastructure Development. While Karrick will buy 3.33% equity for Rs 111.75 crore on behalf of LN Mittal, FIM Holding B, a wholly-owned subsidiary of Farallon Funds and managed by Farallon Capital Management based in San Francisco, US, will acquire 10% equity for Rs 335.25 crore.
Post the new investments, the shareholding of the company (Indiabulls Financial Services) in Indiabulls Infrastructure Development will decrease from 100% to 86.67%. Karrick will be allotted a total of 25 lakh shares at a premium of Rs 437 per share of Rs 10 each. FIM Holding B will be allotted a total of 75 lakh shares at a premium of Rs 437 per share, of face value Rs 10.
The counter clocked 6.76 lakh shares on BSE.The stock surged sharply in the past two days ahead of such allotment by the company. From Rs 528.05 on 28 November, the stock surged to Rs 572.10 by 30 November on strong demand.
TO READ MORE CLICK HERE
Thomas Cook India cuts loose on takeover speculation
Thomas Cook India jumped 5.30% to Rs 540, amid reports that it will buy stake in unlisted Travel Corporation of India.As many as 2,388 shares changed hands in the counter on BSE.The stock had declined in the last few days, after the company reported poor October quarter results. From Rs 552.70 on 14 November, the scrip declined to Rs 512.80 by 30 November, as selling continued.
Interestingly, the company has scheduled a meeting of the board of directors on 1 December 2006 (today), to consider merger/acquisition proposals.
TO READ MORE CLICK HERE
Bajaj Auto gathers pace on Nov sales
Bajaj Auto rose 1.62% to Rs 2,683.25, after its sales for November rose 33% from a year ago.Motorcycle sales rose 36% to 2,14,321 units, while that of all two-wheelers grew 29% to 2,14,329 units, the company said in a statement today. Sales of three-wheelers were up 71% at 29,384 units, while exports rose 56% to 36,086.As many as 20,777 shares changed hands in the counter on BSE.
The stock recovered steadily after a sharp fall, after it expected margins to remain under pressure at the time of Q2 results. From Rs 2,562.45 on 17 November, the stock recovered steadily to Rs 2,644.75 on 30 November, as buying continued. Also, the latest cut of Rs 2 per litre in petrol, will help improve sales.
TO READ MORECLICK HERE
posted by SY at 12:02 PM
0 Comments:
Post a Comment
<< Home