Sensex off lower level
The market remained weak in afternoon trade. Dr Reddy’s Lab, Ranbaxy, Bhel and L&T recovered from lower level. IT, telecom and auto stocks remained weak.
At 13:38 IST, Sensex was down 198 points at 13,662. Sensex recovered from lower level after it had lost as much as 260.65 points to a low of 13,599.87 at 12:01 IST.The market breadth was strong. 1672 shares rose on BSE as compared to 911 shares that declined. 45 shares were unchanged. Gainers outpaced losers by a ratio of 1.8:1.BSE clocked a turnover of Rs 2457 crore.
Punj Lloyd Ltd fell 2.4% to Rs 1,002.95 on alloting 5,633 equity shares to the eligible employees under ESOP 2005.
JSW Steel Ltd fell 2% to Rs 389 after successfully commissioning 1.3 mtpa project, increasing the Slab making capacity from 2.5 mtpa to 3.8 mtpa.
Pratibha Industries surged 5% to Rs 229.10 on announcing that Rajasthan had awarded it a construction contract worth Rs 331.64 crore.
Infosys Technologies Ltd fell 3% to Rs 2,206 after Infosys BPO and HVS International announced a strategic alliance to offer outsourcing solutions in the hospitality industry.
Infosys flags off the earnings season on 11 Jan 2006. According to Citigroup’s Q3 IT sector preview, volume growth will remain strong for the IT sector in Q3, but an appreciation of the rupee against the US dollar will impact operating margins by 90 basis points. Citigroup expects a marginal uptick in pricing of the last few quarters to continue and opines that more clarity on price increases will be a key to the stocks' performance.
Manappuram General Finance & Leasing Ltd jumped 10% to Rs 56.15 on plans to consider offering bonus issue of equity shares in the ratio of 1:1.
Nagarjuna Construction Company Ltd declined 1.3% to Rs 225.50, on securing two new orders from Maharashtra Airport Development Company Ltd and GESCOM, aggregating Rs 260 crores.
Himatsingka Seide jumped 3.3% to Rs 136 boosted by a news report that it is in advanced talks to buy an Italian home furnishing firm.
At 13:38 IST, Sensex was down 198 points at 13,662. Sensex recovered from lower level after it had lost as much as 260.65 points to a low of 13,599.87 at 12:01 IST.The market breadth was strong. 1672 shares rose on BSE as compared to 911 shares that declined. 45 shares were unchanged. Gainers outpaced losers by a ratio of 1.8:1.BSE clocked a turnover of Rs 2457 crore.
Punj Lloyd Ltd fell 2.4% to Rs 1,002.95 on alloting 5,633 equity shares to the eligible employees under ESOP 2005.
JSW Steel Ltd fell 2% to Rs 389 after successfully commissioning 1.3 mtpa project, increasing the Slab making capacity from 2.5 mtpa to 3.8 mtpa.
Pratibha Industries surged 5% to Rs 229.10 on announcing that Rajasthan had awarded it a construction contract worth Rs 331.64 crore.
Infosys Technologies Ltd fell 3% to Rs 2,206 after Infosys BPO and HVS International announced a strategic alliance to offer outsourcing solutions in the hospitality industry.
Infosys flags off the earnings season on 11 Jan 2006. According to Citigroup’s Q3 IT sector preview, volume growth will remain strong for the IT sector in Q3, but an appreciation of the rupee against the US dollar will impact operating margins by 90 basis points. Citigroup expects a marginal uptick in pricing of the last few quarters to continue and opines that more clarity on price increases will be a key to the stocks' performance.
Manappuram General Finance & Leasing Ltd jumped 10% to Rs 56.15 on plans to consider offering bonus issue of equity shares in the ratio of 1:1.
Nagarjuna Construction Company Ltd declined 1.3% to Rs 225.50, on securing two new orders from Maharashtra Airport Development Company Ltd and GESCOM, aggregating Rs 260 crores.
Himatsingka Seide jumped 3.3% to Rs 136 boosted by a news report that it is in advanced talks to buy an Italian home furnishing firm.
posted by SY at 1:56 PM
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