Market wipes out losses
The Sensex staged an intra-day rebound, making its way back into the green. Index heavyweight Infosys Tech held firm. ACC, ITC and Tata Steel had firmed up. Car major Maruti Udyog recovered from a post-results' fall. Bharti Airtel recovered from the lower level.
At 13:40 IST the Sensex was up 28 points, at 14,211, up from a low of 14,111.75 at 12:22 IST.The market-breadth was strong. For 1,454 shares rising on BSE, 1,126 declined. Just 66 shares were unchanged. Gainers outpaced losers by a ratio of 1.29:1.The BSE clocked a turnover of Rs 2402 crore.
Maruti Udyog (MUL) was up 0.4% to Rs 914.80. The stock rose from a lower level after losing as much as 1.8%, to Rs 893.90, by 13:12 IST soon after Q3 results hit the market. A strong 3.5 lakh shares changed hands in the counter on BSE. MUL reported 11% growth in net profit in December 2006 quarter, to Rs 376.40 crore (Rs 339.10 crore). The company's profit-before-tax in December 2006 quarter, was arrived at after deducting losses of the erstwhile wholly-owned subsidiary, Maruti Suzuki Automobiles India (MSAIL), for April - December 2006 period, amounting to Rs 54.61. MSAIL was merged into MUL.
Colgate Palmolive advances on robust results
Colgate Palmolive India gained 2.36% to Rs 384.35, on posting 20.60% rise in net profit for Q3 December 2006.A strong 60,913 shares were traded in the counter on BSE.
The stock declined ahead of the results. From Rs 384.10 on 15 January, the stock declined to Rs 375.50 by 19 January.
Colgate Palmolive India reported 20.6% rise in net profit for Q3 December 2006 to Rs 50.3 crore, from Rs 41.7 crore in Q3 December 2005. Total income increased to Rs 338.94 crore (Rs 296.57 crore).
Colgate is a market-leader in toothpastes with 47% share.Recently, Colgate hiked prices of toothpastes by about 4% across all brands, except Cibaca, that caters to the lower end of the market on the back of higher input costs.
At 13:40 IST the Sensex was up 28 points, at 14,211, up from a low of 14,111.75 at 12:22 IST.The market-breadth was strong. For 1,454 shares rising on BSE, 1,126 declined. Just 66 shares were unchanged. Gainers outpaced losers by a ratio of 1.29:1.The BSE clocked a turnover of Rs 2402 crore.
Maruti Udyog (MUL) was up 0.4% to Rs 914.80. The stock rose from a lower level after losing as much as 1.8%, to Rs 893.90, by 13:12 IST soon after Q3 results hit the market. A strong 3.5 lakh shares changed hands in the counter on BSE. MUL reported 11% growth in net profit in December 2006 quarter, to Rs 376.40 crore (Rs 339.10 crore). The company's profit-before-tax in December 2006 quarter, was arrived at after deducting losses of the erstwhile wholly-owned subsidiary, Maruti Suzuki Automobiles India (MSAIL), for April - December 2006 period, amounting to Rs 54.61. MSAIL was merged into MUL.
Colgate Palmolive advances on robust results
Colgate Palmolive India gained 2.36% to Rs 384.35, on posting 20.60% rise in net profit for Q3 December 2006.A strong 60,913 shares were traded in the counter on BSE.
The stock declined ahead of the results. From Rs 384.10 on 15 January, the stock declined to Rs 375.50 by 19 January.
Colgate Palmolive India reported 20.6% rise in net profit for Q3 December 2006 to Rs 50.3 crore, from Rs 41.7 crore in Q3 December 2005. Total income increased to Rs 338.94 crore (Rs 296.57 crore).
Colgate is a market-leader in toothpastes with 47% share.Recently, Colgate hiked prices of toothpastes by about 4% across all brands, except Cibaca, that caters to the lower end of the market on the back of higher input costs.
posted by SY at 2:25 PM
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