Sensex strikes all-time high above 14,200
The market opened firm with the Sensex scaling an all-time high above 14,200 within minutes of commencement of trading. However, it pared gains in volatile early trade.
TCS and HCL Tech advanced after reporting strong Q3 numbers after trading hours on Monday. However, index heavyweight Reliance Industries (RIL) had eased.
At 10:19 IST the Sensex was up 8 points, at 13,138.The market fluctuated between positive and negative zone in early trade. After surging as many as 81.51 points to a high of 14,211.15 in opening trade, the Sensex was sharply off the higher level, at 14,089.63 by 10:14 IST. At 14,089.63, the benchmark index was down 40 points for the day.The market breadth was positive. For 1,084 shares rising on BSE, 735 declined. Just 56 shares were unchanged. Gainers outpaced losers by a ratio of 1.47:1.The BSE clocked a turnover of Rs 539 crore.
Index heavyweight Reliance Industries (RIL) shed 0.7% to Rs 1354.90 on profit-taking after a recent surge. The stock settled at lifetime high of Rs 1364.65 on Monday.
TCS gains as Q3 results meet estimates
TCS rose 2.4% to Rs 1359, after disclosing a new contract while unveiling Q3 net profit, which was at the top end of analysts’ expectations.A strong 90,207 shares changed hands in the counter on BSE.
The stock witnessed a solid pre-results' rally. From Rs 1151.35 on 22 December 2006, it surged 15.3% to a lifetime closing high of Rs 1327.90 on 15 January 2007. The results hit the market after trading hours that day.
After trading hours on Monday, TCS reported a consolidated net profit as per US GAAP of Rs 1104.68 crore in December 2006 quarter, a growth of 11.4% on a sequential basis. The net profit was at the top end of forecasts between 4.4 - 13.9% growth by eight analysts. Consolidated revenue as per US GAAP rose 8.4% on a sequential basis, surpassing an expected 6.2 - 8.2% growth of eight analysts.
TCS also announced an agreement with Banco Pichincha, Ecuador's largest private bank, to provide a comprehensive outsourcing solution, in a contract valued at over $ 140 million for five years.
At the time of announcing Q3 results, TCS officials were upbeat about growth in the months ahead. "All clients are ramping up and we see good growth," N. Chandrasekaran, global head of sales and operations, said. He said the company expected several new contracts. The company said it has 10 deals in the pipeline. TCS added 55 new clients during the quarter. The company also said 7,835 employees joined the company during the year.
Lumax Automotive Technologies overcomes listing blues
Lumax Automotive Technologies was trading at a premium, at Rs 127.30, compared to an issue price of Rs 80.Interestingly, the stock debuted on BSE at Rs 75.50, a discount of 5.63% to its issue price. It also struck a high of Rs 142.10.The counter clocked a volume of 19.10 lakh shares on BSE.
Lumax Automotive Technologies (LATL) is a part of the DK group of companies, engaged in manufacturing components for two, three and four wheeler industries. It manufactures sheet metal products, lighting systems, gear shift levers and parking brakes for two, three and four wheelers. Bajaj Auto, Maharashtra Scooters, Maruti Suzuki and Lumax Industries are its major customers.
Recently, the company came out with a public issue of 30.12 lakh shares, the proceeds of which will be utilized for setting up of a chassis assembly at Bhosari near Pune, expansion and modernization of current facilities and setting up new ones.
The company’s post-issue equity share capital is Rs 24.10 crore, while its post-issue promoter stake is 74.10%.
LATL reported a net profit of Rs 3.84 crore for the year ended March 2006 on total sales of Rs 117.23 crore
TCS and HCL Tech advanced after reporting strong Q3 numbers after trading hours on Monday. However, index heavyweight Reliance Industries (RIL) had eased.
At 10:19 IST the Sensex was up 8 points, at 13,138.The market fluctuated between positive and negative zone in early trade. After surging as many as 81.51 points to a high of 14,211.15 in opening trade, the Sensex was sharply off the higher level, at 14,089.63 by 10:14 IST. At 14,089.63, the benchmark index was down 40 points for the day.The market breadth was positive. For 1,084 shares rising on BSE, 735 declined. Just 56 shares were unchanged. Gainers outpaced losers by a ratio of 1.47:1.The BSE clocked a turnover of Rs 539 crore.
Index heavyweight Reliance Industries (RIL) shed 0.7% to Rs 1354.90 on profit-taking after a recent surge. The stock settled at lifetime high of Rs 1364.65 on Monday.
TCS gains as Q3 results meet estimates
TCS rose 2.4% to Rs 1359, after disclosing a new contract while unveiling Q3 net profit, which was at the top end of analysts’ expectations.A strong 90,207 shares changed hands in the counter on BSE.
The stock witnessed a solid pre-results' rally. From Rs 1151.35 on 22 December 2006, it surged 15.3% to a lifetime closing high of Rs 1327.90 on 15 January 2007. The results hit the market after trading hours that day.
After trading hours on Monday, TCS reported a consolidated net profit as per US GAAP of Rs 1104.68 crore in December 2006 quarter, a growth of 11.4% on a sequential basis. The net profit was at the top end of forecasts between 4.4 - 13.9% growth by eight analysts. Consolidated revenue as per US GAAP rose 8.4% on a sequential basis, surpassing an expected 6.2 - 8.2% growth of eight analysts.
TCS also announced an agreement with Banco Pichincha, Ecuador's largest private bank, to provide a comprehensive outsourcing solution, in a contract valued at over $ 140 million for five years.
At the time of announcing Q3 results, TCS officials were upbeat about growth in the months ahead. "All clients are ramping up and we see good growth," N. Chandrasekaran, global head of sales and operations, said. He said the company expected several new contracts. The company said it has 10 deals in the pipeline. TCS added 55 new clients during the quarter. The company also said 7,835 employees joined the company during the year.
Lumax Automotive Technologies overcomes listing blues
Lumax Automotive Technologies was trading at a premium, at Rs 127.30, compared to an issue price of Rs 80.Interestingly, the stock debuted on BSE at Rs 75.50, a discount of 5.63% to its issue price. It also struck a high of Rs 142.10.The counter clocked a volume of 19.10 lakh shares on BSE.
Lumax Automotive Technologies (LATL) is a part of the DK group of companies, engaged in manufacturing components for two, three and four wheeler industries. It manufactures sheet metal products, lighting systems, gear shift levers and parking brakes for two, three and four wheelers. Bajaj Auto, Maharashtra Scooters, Maruti Suzuki and Lumax Industries are its major customers.
Recently, the company came out with a public issue of 30.12 lakh shares, the proceeds of which will be utilized for setting up of a chassis assembly at Bhosari near Pune, expansion and modernization of current facilities and setting up new ones.
The company’s post-issue equity share capital is Rs 24.10 crore, while its post-issue promoter stake is 74.10%.
LATL reported a net profit of Rs 3.84 crore for the year ended March 2006 on total sales of Rs 117.23 crore
posted by SY at 1:32 PM
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